Exclusive: Senate investigating HSBC for money laundering
- HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
Housing data points to slowdown in sales
Signed contracts for the sale of existing U.S. homes retreated from a 1-1/2-year high in December and demand for home loans fell last week, pointing to a moderation in home sales after recent hefty gains.
Morgan Stanley CEO sees better markets in 2012
Capital markets in 2012 are better than they were in 2011, Morgan Stanley Chief Executive James Gorman said on Wednesday, adding that his bank is in a very good position for Basel III standards.
Apple lifts Nasdaq in cautious market
The Dow and S&P 500 fell on Wednesday on concerns over Greek debt talks, stalling a strong rally from last year, but the Nasdaq rose on Apple's forecast-beating results.
Joe Biden on GOP Candidates: Are Gingrich and Romney the Same?
Are Newt Gingrich and Mitt Romney the same? Vice President Joe Biden thinks so, and a side-by-side comparison of their positions shows more similarities than differences.
Manufacturers top Street's profit forecasts
Three major U.S. manufacturers reported better-than-expected profit and stuck to their forecasts of earnings growth this year, with solid emerging market demand and a modest U.S. recovery offsetting weakness in Europe.
Delta, US Air beat Street views on higher fares
Delta Air Lines and US Airways Group reported much stronger-than-expected fourth-quarter results on Wednesday as both carriers raised fares, offsetting a surge in fuel prices.
Xerox sees 2012 EPS growth after solid 4th quarter
Xerox Corp aims to increase earnings this year by potentially more than 9 percent after it reported fourth-quarter results in line with estimates on the back of solid growth in its services business.
AT&T Bashes Sprint over Plans to Use Wireless Roaming
Beginning in March, devices of Sprint customers will roam on other wireless networks in many parts of Kansas and all but the metropolitan areas of Oklahoma. AT&T is calling a foul on the plan.
Pending home sales retreat from 1-1/2 year high
Pending sales of existing U.S. homes fell more than expected in December, industry data showed on Wednesday, pointing to a moderation in home sales after recent hefty gains.
Senate Investigating HSBC for Money Laundering
HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
Fed set to push back timing of eventual rate hike
The Federal Reserve looks set to keep monetary policy on hold on Wednesday, even as it releases forecasts expected to show interest rates will be near zero for at least two more years.
Greece Hopes for Debt Deal Soon, Talks to Resume
Greece hoped on Wednesday it could wrap up tortuous negotiations on a debt swap as early as this week when private creditors return to Athens for a fresh round of talks to avert a chaotic default.
Boeing profit up, but guidance disappoints
Plane-maker Boeing Co reported a quarterly profit that topped Wall Street forecasts on stronger commercial airplane deliveries, but its 2012 earnings forecast was lower than expected.
Core suppliers savor bigger Apple pie
Suppliers basked in the reflection of Apple's glowing results on Wednesday after the company's gold standard iPhones and iPads flew off the shelves over the holiday sales season.
Mortgage applications retreated last week: MBA
Applications for home mortgages retreated last week, giving back some of the previous week's surge as interest rates rose, an industry group said on Wednesday.
Apple lifts Nasdaq futures in hesitant market
Dow and S&P 500 index futures edged lower on Wednesday as the market continues to show signs of fatigue this week after a strong run from late last year, but the Nasdaq rose on forecast-beating results from Apple Inc .
Global firms sharpen currency hedging on euro concern
International firms are spending more time at the highest levels discussing how to hedge currency risk, particularly euro-denominated earnings and transactions, in readiness for a worst case scenario of a euro zone breakup.
EU exec sticks to size of taxpayer part of 2nd Greek bailout
The European Commission stands by the size of euro zone taxpayers' contribution of up to 130 billion euros ($169 billion) to the second Greek bailout, a Commission spokesman said on Wednesday.
Apple returns to form, blows Street targets away
Apple Inc's quarterly results blew past Wall Street's expectations after U.S. consumers snapped up near-unprecedented numbers of iPhones and iPads, sending its shares up 8 percent into record territory.
SAP Bullish on 2012 after Record Results
SAP, the world's biggest maker of business software, was upbeat on its topline growth this year citing its investment in new technologies and robust corporate spending.
Ericsson Q4 profit halves as slowdown bites
Ericsson, the world's biggest maker of equipment for mobile phone networks, stunned markets with a 50 percent drop in quarterly profit, adding to signs from the corporate world that economic growth may be grinding to a halt.
Japan's first trade deficit since 1980 raises debt doubts
Japan first annual trade deficit in more than 30 years calls into question how much longer the country can rely on exports to help finance a huge public debt without having to turn to fickle foreign investors.
Strong Business Morale Shows Germany Will Avoid Recession
German business sentiment rose for the third month in a row in January, beating expectations and offering fresh evidence that Europe's largest economy is shrugging off a sovereign debt crisis that has hammered growth in other euro zone countries.
Citi mulls more cuts in securities and banking
Citigroup Inc said it may make further cuts in its securities and banking unit in 2012 if revenue does not pick up meaningfully, as the prospect of more layoffs looms large over investment banks globally.
Roche offers $5.7 billion to buy gene firm Illumina
Roche Holding AG is offering $5.7 billion in cash to buy U.S. gene sequencing company Illumina Inc in an unfriendly takeover bid that marks a major play by the Swiss drugmaker into the gene technology field.
Citi mulls further cuts in securities and banking unit
Citigroup Inc may consider further restructuring of its securities and banking unit if the business does not see meaningful revenue recovery over the course of 2012, Chief Financial Officer John Gerspach said on a conference call.
Come for coffee, don't forget the cocaine, Dotcom joked
Kim Dotcom, the founder of file-sharing site Megaupload.com who faces a lengthy jail term in the United States if convicted of racketeering, money laundering and Internet piracy, seems to have a mischievous sense of humor.
Stock index futures signal mixed Wall Street open
Stock index futures pointed to a mixed open for equities on Wall Street on Wednesday, with futures for the S&P 500 down 0.2 percent, the Dow Jones futures down 0.1 percent and the Nasdaq 100 futures up 0.6 percent.
SAP Sets Sights on Fresh Profit Record
SAP, the world's biggest maker of business software, aims to set a fresh profit record this year as it banks on robust corporate spending on technology.
