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Wall Street jumps as EU vows support for Greece

Stocks rose on Thursday as appetite for riskier assets returned after a pledge by European leaders to support debt-ridden Greece eased fears of a possible sovereign default.

EU pledges to support Greece, but offers no details

European leaders sought to prop up Greece with words of support at a summit on Thursday but failed to offer concrete proposals to help the country tackle its debt crisis, prompting a negative market reaction.

Jobless claims drop raises hopes on recovery

The number of U.S. workers filing new claims for unemployment benefits fell more than expected last week, welcome news for the White House as it predicted more than 1 million jobs will be created this year.

Business Council CEO survey finds U.S. hiring wariness

Top U.S. executives say their companies are moving out of the defensive position they adopted during the recent worldwide downturn and are aggressively planning to grow, according to the latest semiannual survey by the Business Council.

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Wall Street up as labor market data boosts shares

Stocks rose in choppy trading on Thursday as uncertainty over details of a deal European leaders struck to aid debt-ridden Greece was offset by an improving U.S. labor market picture.

Marriott beats Wall Street estimates, lifts outlook

Marriott International Inc posted higher-than-expected fourth-quarter earnings and lifted its 2010 outlook on Thursday as business improved, especially at its international hotels.

Senate banking chief hopeful for financial reform bill

Senate Banking Chairman Christopher Dodd voiced optimism on Thursday that his committee could craft a bipartisan financial reform bill.

U.S. stocks dip; still no definitive Greece bailout plan

U.S. stocks edged lower in morning trading on Thursday as European leaders today still have not yet confirmed a specific plan to bailout Greece.

Wall Street falters as looks for Greece details

Stocks slipped on Thursday as details remained murky of a deal to provide financial aid to debt-laden Greece, but declines were offset by a tumble in first-time claims for jobless benefits.

Nortel sees $1 billion more from business sales

Bankrupt Nortel Networks Corp said it was expecting about $1 billion more from the sale of some of its remaining businesses, including the Optical Networking and Carrier Ethernet service.

Jobless claims fall sharply in latest week

The number of U.S. workers filing new applications for jobless benefits tumbled last week, a government report showed on Thursday, reversing a recent spike that had raised concerns about renewed labor market weakness.

Wall Street to open higher on Greece deal, jobs data

Wall Street was set to open higher on Thursday as key euro zone officials struck a deal to help Greece with its debt crisis, and U.S. data showed claims for first-time jobless benefits fell more than expected last week.

China CPI inflation slows but lending brisk

Chinese consumer inflation unexpectedly slowed last month, but a leap in lending and a rise in factory-gate inflation will keep policymakers alert to the risk of credit-fueled overheating in the world's third-largest economy.

EU leaders reach deal to rescue Greece

European leaders have reached a deal to provide aid to Greece, EU president Herman Van Rompuy said on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro.

UBS stake may be worth 70 percent less as GIC converts

Singapore sovereign wealth fund GIC will convert 11 billion Swiss francs ($10.33 billion) worth of UBS notes into shares next month at a price that may erode the value of its stake in the Swiss bank by 70 percent.

AutoNation reports earnings beat, Toyota progress

AutoNation Inc , the largest U.S. auto dealership group, on Thursday posted quarterly results that exceeded analysts' expectations and said Toyota Motor Corp was making progress in its repair program.

Swiss minister says U.S. insists on UBS tax deal: report

The Swiss government will probably have to turn to parliament to resolve a legal impasse threatening a deal struck with the U.S. to hand over data from UBS clients, a minister was quoted as saying.

How the poor can get poorer, and be OK about that

Moody's upgraded the outlook for Lithuania's debt rating recently, but that means nothing to people like Lijandra Garniene.

Stock futures rise on Greece deal as jobs data in focus

Stock index futures rose on Thursday as key euro zone officials struck a deal to help Greece with its debt crisis, while investors awaited data on the health of the labor market.

AutoNation quarterly earnings exceed expectations

Credit Suisse says at strongest since crisis hit

Credit Suisse boss Brady Dougan said the Swiss bank was winning client money and transactions faster than at any point since the financial crisis began, putting a positive sheen on weak quarterly earnings.

Stock futures up with Greece, jobs data in focus

Stock index futures rose on Thursday with the spotlight on a European summit that could set the blueprint for aid to debt-laden Greece, while investors awaited data on the health of the labor market.

Euro zone in deal on help for Greece: EU president

Several key euro zone officials have reached a deal to help Greece in its debt crisis, European Union President Herman Van Rompuy said on Thursday.

MySpace CEO steps down

News Corp has replaced the CEO of the social networking site MySpace less than a year after hiring him, and said a discussion of his priorities led both sides to agree to a parting.

EU finance ministers agreed IMF role in Greek aid: source

Euro area finance ministers agreed their countries would take determined and coordinated action to help Greece, drawing on IMF expertise but not the Fund's money, an EU government source said on Thursday.

EU summit gets to grips with Greece rescue plan

European Union leaders will lay the foundations for a financial bailout of Greece at a summit in Brussels on Thursday, but any package will demand deep fiscal and economic adjustments by Athens in return.

Stocks, euro firmer ahead of EU Greek debate

World stocks hit a one-week high while the euro rose broadly on Thursday as investors looked to European Union leaders to lay the foundations for a financial rescue of Greece at a summit in Brussels.

EU summit to get to grips with Greece rescue plans

European Union leaders are expected to lay the foundations for a financial rescue of Greece at a summit in Brussels on Thursday, but any package of support is likely to require major economic adjustments by Athens.

Rio Tinto half-year profit slides 23 percent, beats forecasts

Global miner Rio Tinto reported a 23 percent slide in half-year profit on Thursday, its worst second-half profit in three years, dented by a sharp drop in iron ore prices, but the result beat analysts' forecasts.

Credit Suisse profit slows in fourth quarter

Credit Suisse missed forecast by posting its lowest quarterly profit in 2009 as market conditions toughened, but it continued to attract client flows while rival Swiss bank UBS struggled.

Twitter names Pixar executive as CFO

Internet microblogging service Twitter named a chief financial officer on Wednesday, as the 2-1/2-year-old company steps up its efforts to make money.

AIG launches new system for incentive pay

American International Group Inc has launched a new system to determine how employees get incentive pay, a move that follows public outcry over retention payments the bailed-out insurer made to some staff.

PNC says finished repaying U.S. bailout funds

PNC Financial Services Group Inc said on Wednesday that it had completed the repayment of $7.6 billion in bailout funds to the U.S. government.

Activision results top Street, starts dividend

Activision Blizzard Inc posted better-than-expected results on Wednesday, fueled by its hit holiday release Call Of Duty: Modern Warfare 2, and shares rallied as the company said it would start paying an annual dividend.

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