Morehead Port closed, evacuated after explosive material incident
The Morehead port in North Carolina was shut down and evacuated by officials on Tuesday after nine containers of highly explosive materials were damaged.
Fed paid record $46.1 billion to Treasury in 2009
The Federal Reserve paid a record $46.1 billion to the U.S. Treasury last year as aggressive bond purchases and lending to fight the financial crisis swelled its net income by 46.8 percent.
FDIC floats plan to tie bank pay to fee levels
U.S. banks whose compensation plans encourage excessive risk-taking would have to pay more for deposit insurance under a proposal floated by the Federal Deposit Insurance Corp on Tuesday.
U.S. trade gap widens in November on import jump
The U.S. trade deficit ballooned in November, as the price of imported oil jumped more than $5 per barrel and revived consumer and manufacturer demand pushed imports to their highest in nearly a year.
Wall St must pay mad scientists well: lobbyist
Some Wall Street executives in line for fat bonuses are akin to mad scientists whose brilliance justifies the size of their pay packages, the head of the U.S. Chamber of Commerce said on Tuesday.
BlackRock president sees stronger emerging markets
The president of the world's largest money manager, BlackRock Inc , said on Tuesday that emerging markets are a bright spot for investment and warned U.S. real estate prices are likely to fall further.
Entrepreneur trades sex for solar
As an entrepreneur, Gary Kremen knows something about growth industries.
In boost to Kraft, Ferrero out of Cadbury race
Italy's Ferrero has decided not to bid for Cadbury Plc
SEC sues Bank of America again, on Merrill losses
The Securities and Exchange Commission sued Bank of America Corp for a second time over its takeover of Merrill Lynch & Co, accusing the bank of failing to disclose huge losses at Merrill before shareholders voted on the merger.
Calls grow for inquiry into Fed role in AIG issue
Calls for an inquiry into whether the New York Federal Reserve improperly urged insurer AIG to limit discussions of payments to banks grew on Tuesday as a senior lawmaker issued a subpoena for fuller disclosure.
Airbus sees steady 2010 after record year
Airbus is delivering more aircraft than ever to its global roster of clients and plans to keep production steady, the European aerospace firm reported today.
Small U.S. business owners end 2009 downbeat
The sentiment of U.S. small business owners stalled in December, hurt by weak sales and worries about government policies, according to a survey released on Tuesday.
Senator urges SEC probe NY Fed over AIG emails
U.S. regulators should investigate whether laws were violated when the New York Federal Reserve Bank under Timothy Geithner urged insurer AIG to limit discussions about payments to banks, a Republican lawmaker said on Tuesday.
Genii working to improve bid for Saab
Luxembourg-based Genii Capital is working to improve its offer for ailing Swedish carmaker Saab, a spokesman for the investment firm said on Tuesday.
Detroit auto show brings optimism and caution
U.S. automakers and officials at the Detroit auto show struck an optimistic yet cautious tone on Monday as they sought to put a toxic year of slumping sales and massive government aid behind.
Honda says new hybrid coupe is fun, efficient
Honda 2011 Honda CR-Z sport hybrid coupe made its debut on Monday, launching a vehicle designed with fun and energy efficiency in mind.
Hitachi develops battery for plug-in hybrid cars
Japan's Hitachi Ltd said it has developed lithium-ion batteries for plug-in hybrid vehicles and plans to start commercial production by 2013, aiming to take a slice of a market with strong growth potential.
U.S. job hiring picks up in November
More U.S. business hired people in November, but workers had limited choices as the number of jobs open fell despite an economy inching forward, government data showed on Tuesday.
Cadbury says has support against current Kraft bid
Bid-target Cadbury Plc said on Tuesday it had good support from its shareholders in repelling the hostile bid from Kraft Foods and should be able to deliver on its financial targets for 2010.
Italy's solar power capacity rises to 796 MW -GSE
Italy's total capacity of the photovoltaic (PV) installations that turn sunlight into power has risen to 795.6 megawatts from 700 MW at the end of November, the state energy management agency GSE's data showed on Tuesday.
Cadbury CEO has investor support to reject Kraft
Bid-target Cadbury Plc stressed on Tuesday it had good support from its shareholders in repelling the hostile bid from Kraft Foods and should be able to deliver on its financial targets for 2010.
Sino-Forest buys Chinese wood products co for $7.1 mln
Sino-Forest Corp on Tuesday said it acquired Homix Ltd, a Chinese company engaged in research and development and manufacturing of wood products, for about $7.1 million, sending the forest operator's shares to a two-year high.
Retailers see innovation, speed as keys to growth
Retailers are using a host of strategies in adapting to the downturn -- from improving their products to expanding their e-commerce businesses -- which they hope will better position themselves for a rebound in the economy.
Cadbury rejects Kraft, reports robust trading
Cadbury made its final case against Kraft Foods' hostile takeover offer, delivering higher margins and promising a raised dividend, but the U.S. food group was still expected to succeed by slightly improving its offer.
Tiffany, Signet holiday sales grow as splurges return
Tiffany & Co and Signet Jewelers Ltd saw holiday sales rise as shoppers began splurging on luxury items again and both jewelers said their profits should top expectations.
Wall Street lower on earnings and bank jitters
Stocks fell on Tuesday, halting a six-day streak of gains, after weaker-than-expected results from Alcoa Inc and on concerns banks could face fees from the government to recoup losses tied to bailouts.
KB Home posts profit, but orders disappoint
KB Home posted its first profit in almost three years on Tuesday, beating Wall Street estimates, but its shares fell as orders for its new line of smaller, cheaper houses came in lower than expected.
Small is beautiful for buyout returns
Mega buyout funds have been a bad bet over the past year, generating the worst returns when compared with small and mid-market funds, a study by research firm Preqin said on Tuesday.
GM Europe CEO sees drop in 2010 sales
GM Europe's GM.UL Vauxhall and Opel car sales may fall as much as 5 percent in 2010, as tentative signs of economic recovery are offset by the end of scrapping incentive schemes, its CEO said on Tuesday.
Italy fashion to exit crisis first: industry body
Italy's fashion industry called for government help last year as the global financial crisis sapped demand for its clothes, shoes and handbags.