IBT Staff Reporter

101731-101760 (out of 154954)

Sen. Rockefeller attacks 'rapacious' health industry

Sen. Jay Rockefeller of West Virginia unleashed an attack on the health insurance industry and the need for more regulation on Thursday during a health summit of top politicians convened by President Barack Obama.

Senators urge US to combat China currency policy

A group of 15 U.S. senators on Thursday insisted that China's currency practices are effectively a subsidy, and urged Commerce Secretary Gary Locke to take action. There can be no doubt that China's policy of large-sale intervention in the exchange markets and the significant undervaluation of its currency acts as a subsidy to Chinese exports, the senators said in a letter.

FOREX-Euro reverses losses vs dollar, touches session high

The euro reversed losses against the U.S. dollar on Thursday and touched a peak for the session so far as U.S. stocks cut declines in afternoon trading. The euro hit a high of $1.3571 and was last changing hands at $1.3555, up 0.1 percent on the day, as the three main benchmark U.S. stock indexes pared declines.

Stock market pares losses as Greece fear subsides

Greece woes returned to the headlines Thursday as reports of massive protests troubled investors and the threat of an S&P downgrade loomed. However, by the afternoon session, sentiments rebounded as U.S. stock pared losses.

The Street's jobless recovery

When Matt Prendergast was laid off in 2008 after Bear Stearns collapsed, he expected to find a new job right away. With more than 20 years' experience as an investment banker, he thought he was sitting pretty.

Weak data raises worries about recovery

Demand for a wide range of U.S. manufactured goods unexpectedly fell in January, while new applications for jobless benefits rose again last week, the latest data to suggest a step back in the economy's recovery.

Stocks cut losses on materials, Apple

Wall Street pared losses on Thursday as materials and healthcare sectors edged off session lows and worries eased about the strength of an economic recovery.

Oil falls over 2 percent on recovery concerns

Oil dropped more than 2 percent on Thursday to below $78 a barrel as weak U.S. employment and durable goods data raised more concerns about a recovery in the world's top energy consumer.

Palm cuts revenue outlook on weak phone sales

Palm Inc slashed its revenue targets on weak demand for its smartphones, renewing concerns about its ability to compete against rivals like Apple Inc and sending shares down 16 percent.

Oil falls 3 percent on recovery concerns

Oil fell more than 3 percent on Thursday to $77 a barrel, dragged lower by concerns over the outlook for the European economy and about the pace of U.S. recovery after a surprise jump in U.S. unemployment.

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