More From IBT Staff Reporter
Oil hovers above $62 on optimism about economic recovery
Oil hovered little changed near a six-month high above $62 a barrel on Wednesday, as a jump in U.S. consumer confidence buoyed hopes that the global economy was on its way to recovery and demand for oil would rise.
May 26, 2009
Borders beats Street, posts narrower loss
Bookseller Borders Group Inc reported a smaller-than-expected loss that beat Wall Street estimates as cost cuts offset a protracted slump in book sales.
May 26, 2009
GM bankruptcy nears as bondholders shun tender offer
General Motors Corp has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy within days.
May 26, 2009
HP says executive from EMC cleared to start work
Hewlett-Packard Co said on Tuesday a Massachusetts court has cleared a top executive who was lured away from rival EMC Corp to begin working for the company, although his role at least initially will be different.
May 26, 2009
Canada deficit to hit $50B record
Canada's deficit this year will reach its biggest ever this year of more than $50 billion because of the deep economic recession, Finance Minister Jim Flaherty said Tuesday.
May 26, 2009
US Equities Futures Report 05/26/2009
US EQUITIES rallied back from the long opening weekend of summer. Initial pressures from escalating geo-political tensions
May 26, 2009
U.S. accuses Texas professor, lawyer of fraud
Two Texas men defrauded investors of some $19.5 million by faking bank records to show that their business, PrivateFX Global One, achieved annual returns of more than 23 percent in foreign exchange trading, U.S. regulators said on Tuesday.
May 26, 2009
Inspur International raised HK $44 mln for acquisitions
Inspur International raised HK $44 mln for acquisitions
Inspur International got its stock suspended on Tuesday in Hong Kong, raising up to 44.3 million HK dollars ($5.71 million) for future acquisitiso wons and general operations
May 26, 2009
David Donatelli Joins HP after court released prohibition
HP announced on Tuesday David Donatelli is to begin working at the company after the Suffolk County Superior Court of Massachusettsreleased its prohibition on the matter.
May 26, 2009
Ralph Lauren director resigns following White House appointment
Polo Ralph Lauren announced Tuesday the resignation of Judith McHale from the Polo Ralph Lauren Board of Directors following her recent appointment to the White House.
May 26, 2009
Take-Two tops forecasts, but delays 2 titles
Video game publisher Take-Two Interactive Inc reported stronger-than-expected quarterly results but cut its fiscal year revenue forecast as it delays the release of two titles.
May 26, 2009
Jury Orders Microsoft to pay $200M in damages to i4i
Jury Orders Microsoft to pay $200M in damages to i4i
i4i, the Toronto-based software firm announced on Tuesday it received a $200 million patent infringement verdict from a federal jury who found Microsoft Corp., the world' largest software maker, willfully infringed on an i4i patent.
May 26, 2009
Stocks jump as confidence data fuels economy hopes
Stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.
May 26, 2009
Facebook sells 2 percent stake for $200 million
Facebook Inc., said Tuesday, received an investment of $200 million from Russia’s Digital Sky Technologies that values the networking service at $10 billion.
May 26, 2009
French police arrest 90 in pedophile web swoop
French police said they had arrested 90 people across the country on Tuesday in an operation targeting a network trading pedophile pictures on the Internet.
May 26, 2009
EIB provides €100M to mitigate climate change in Vietnam
The European Investment Bank (EIB) signed an agreement valued for €100 million with the Socialist Republic of Vietnam, aiming to mitigate climate change in this region.
May 26, 2009
Defiant North Korea fires rockets, blames U.S.
North Korea defied international condemnation of its latest nuclear test by firing two short-range missiles off its east coast on Tuesday and major powers considered tougher action against the isolated communist state.
May 26, 2009
Wall Street gains over 2 percent on confidence data
Stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.
May 26, 2009
California Supreme Court makes prop 8 decision; gay marriage ban remains
The California Supreme Court in one of the most anticipated court decision upheld a voter-approved ban on same-sex marriage Tuesday.
May 26, 2009
Take-Two tops forecasts, revenue forecast cut
Video game publisher Take-Two Interactive Inc reported stronger-than-expected quarterly results but cut its fiscal year revenue forecast as it delays the release of two titles.
May 26, 2009
U.N.'s Ban urges North Korea to return to talks
North Korea must return to negotiations with its neighbors and the United States following its nuclear and missile tests, U.N. Secretary-General Ban Ki-moon said on Tuesday.
May 26, 2009
Intel to produce new, more powerful server chip
Intel Corp will start producing a new, more powerful version of its Xeon multiprocessor chip for servers in the second half, a spokesman said on Tuesday.
May 26, 2009
Greenback Slumps on Equity Rally
The greenback relinquished gains against the euro and Aussie on the Tuesday session as UK and US markets returned from holiday.
May 26, 2009
GM bondholders shun tender offer; bankruptcy nears
General Motors Corp has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy within days.
May 26, 2009
Santander's Optimal to pay $235 million to trustee for Madoff victims
A Banco Santander SA investment management company will pay $235 million to the trustee winding down the securities business formerly run convicted swindler Bernard Madoff.
May 26, 2009
Oil hits 6-month high on consumer confidence
Oil hit a fresh six-month high on Tuesday, bolstered by U.S. consumer confidence data and comments from OPEC kingpin Saudi Arabia that prices may continue to rise.
May 26, 2009
Germany presses Opel suitors, China bid emerges
Germany pressed suitors of General Motors unit Opel to improve their offers and a fourth bidder from China emerged on the eve of a top-level meeting to decide the fate of the carmaker.
May 26, 2009
SEC accuses Texas professor, lawyer of fraud
Two Texas men defrauded investors of some $19.5 million by faking bank records to show that their business, Global One, achieved annual returns of more than 23 percent in foreign exchange trading, the U.S. Securities and Exchange Commission said on Tuesday.
May 26, 2009
Stocks jump over 2 percent on confidence data, Apple
Stocks rose on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.
May 26, 2009
Nokia opens App Store rival, response slow
Nokia opened its online software and content store on Tuesday, hoping to follow the success of Apple Inc's App Store, but the opening was overshadowed by technical glitches and negative reviews.
May 26, 2009
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