U.S. Treasury plans no GM bankruptcy next week: source
The U.S. Treasury Department has no plans to push General Motors Corp into a bankruptcy filing next week and the outcome of the automaker's restructuring efforts may not be known until a June 1 deadline, a source familiar with the situation said early on Friday.
Treasury plans no GM bankruptcy next week
The U.S. Treasury Department has no plans to push General Motors Corp into a bankruptcy filing next week and the outcome of the automaker's restructuring efforts may not be known until a June 1 deadline, a source familiar with the situation said early on Friday.
Credit card firms to lose billions in fees under new law: report
Credit card companies will lose billions of dollars in fees to customers after a bill expected to become law this Friday is signed, an industry analyst told the Wall Street Journal Thursday.
Federal judge weighs DVD copying case
A Federal District Court judge in California weighed arguments in a contentious DVD copyright case between Hollywood movie companies and RealNetworks Inc on Thursday, but did not indicate when she might rule.
U.S. to steer GM toward bankruptcy: report
The Obama administration is preparing to steer General Motors Corp into bankruptcy next week, The Washington Post reported on Thursday, citing sources familiar with the discussions.
Oil steady, off 6-month peak on weak U.S. data
Oil hovered above $61 a barrel on Friday, down from Thursday's six-month highs, as disappointing jobs and factory data dented hopes that the economy of the United States, the world's top energy user, was set for a quick rebound.
Fed's Rosengren expects 'slow recovery,' higher unemployment this year
Federal Reserve Bank of Boston President Eric Rosengren said Thursday that “rather slow recovery is likely” for the economy.
Plosser sees perils in Fed's massive rescue efforts
The Federal Reserve's myriad emergency programs for the U.S. economy threaten the central bank's independence, raising the risk of future inflation, Philadelphia Federal Reserve President Charles Plosser said on Thursday.
Geithner says Obama, Congress will reduce deficit in 2011
U.S. Treasury Secretary Timothy Geithner said Thursday that the Obama administration and Congress will be working together to reduce the nation’s deficits once the recovery is underway.
U.S. may send GM into bankruptcy next week: report
The Obama administration may send General Motors Corp. into bankruptcy next week, giving the company billions of dollars in bailout funds to re-emerge as a viable firm, sources familiar with the matter told the Washington Post.
U.S. closes BankUnited, sells to private equity
U.S. bank regulators seized troubled Florida lender BankUnited FSB and sold it to some of the most powerful private equity firms in the world.
Nikkei edges lower, exporters pressured
Japan's Nikkei stock average edged down 0.1 percent on Friday, with Canon Inc and other exporters hit by a stronger yen but defensive shares holding their own amid a sense the overall trend remains unchanged.
Pimco’s Gross says US may eventually lose top credit rating
The co-chief investment officer of Pacific Investment Management Co. said on Thursday that the United States may eventually lose its ‘AAA’ credit rating.
BBC's Birds headed for U.S. YouTube screens
The BBC is making a limited number of full-length episodes of natural history program The Life of Birds available to U.S. Internet users, marking the first time such long-form BBC content will have appeared online.
U.S. federal judge weighs DVD copying case
A Federal District Court judge in California weighed arguments in a contentious DVD copyright case between Hollywood movie companies and RealNetworks Inc on Thursday, but did not indicate when she might rule.
Nikkei slips as stronger yen pressures exporters
Japan's Nikkei stock average fell 1.2 percent on Friday, with Canon Inc and other exporters hit by a stronger yen as worries about U.S. debt levels grew after a credit agency warned Britain's rating could be cut.
U.S. pours $7.5 billion into auto lender GMAC
The U.S. Treasury Department said on Thursday it has put another $7.5 billion into auto lender GMAC to enable it to support both Chrysler LLC , and General Motors Corp Corp car buyers and partly meet a shortage of capital.
FBI and US Marshals networks hit by virus
A Mystery computer virus infected FBI and the U.S. Marshals computers forcing them to shut down part of their networks as a precautionary measure.
AIG CEO Liddy to step down
American International Group Inc said on Thursday that Chief Executive Edward Liddy plans to step down, signaling the end to a short and tumultuous tenure running the government-rescued insurer.
Huawei takes third spot in mobile telco gear market
China's Huawei Technologies took the No. 3 position in the ailing mobile network gear market in the first quarter, doubling its market share from a year ago and bypassing Alcatel-Lucent .
Myanmar slams doors for Suu Kyi's trial
Diplomats and journalists were barred again from the court inside Insein prison in Myanmar, a day after the military government opened the trial for the first time since it began on Monday.
GMAC to get $7 billion in aid from treasury
The Treasury Department is set to give GMAC LLC at least $7 billion in aid allowing it to expand lending to customers.
Reports hint U.S. recovery will be a rutted road
Data on Thursday underscored that the U.S. economic recovery, when it arrives, will be a long slog, with a key factory index showing only marginally less weakness and unemployment tipped to hit double-digit levels.
Hard Times for Nursing Hires Doesn't Signal End to Shortage
In spite of fewer openings for new nurses at hospitals -- a result of the economic recession -- there is still a nursing shortage, according to Deloras Jones, RN, MS, executive director of the California Institute for Nursing & Health Care (CINHC).
OpenTable soars, best IPO debut in 18 months
Shares of OpenTable Inc closed their first trading session up 59 percent on Thursday following the restaurant reservation company's initial public offering, in the best first day performance for a U.S. company in over 18 months.
Soaring costs raise stakes for healthcare revamp
Forecasts of dramatic jumps in U.S. medical costs are pushing lawmakers to reach a deal on a major healthcare revamp that seeks to extend coverage to all Americans, a leading U.S. senator said on Thursday.
BankUnited collapses marking the year’s biggest failure
Troubled Florida thrift BankUnited was on Thursday seized by federal regulators handing control over to a private equity group led by John Kanas and WL Ross & Co.
Physicians are Less Concerned about H1N1 Swine Flu
Results from a new national study among 688 physicians revealed that over the past few weeks, doctors continue to be less concerned about the impact that the H1N1 swine flu will have on themselves and their families.
Indian PM Singh to be sworn in for second term
Manmohan Singh will be sworn in for a second term as Indian prime minister on Friday after a key southern ally said it would leave the ruling alliance due to a row over ministerial positions.
Wall St falls on fiscal worries
Stocks slid in a broad sell-off on Thursday as investors, concerned about the U.S. budget deficit, exited dollar-denominated assets across the board.
