More From IBT Staff Reporter
Economy bottoming, pay reform needed: BofA CEO
Bank of America Corp Chief Executive Kenneth Lewis, whose bank sold $13.47 billion of common stock this month, on Wednesday said the worst of the economic downturn has likely passed and that conditions will not worsen as much as feared.
May 20, 2009
Google partners with utilities for its Power Meter
Google announced its first partnership with eight utility companies in the United States, India and Canada, to introduce its Power Meter to monitor household electricity usage.
May 20, 2009
Geithner says US making headway in battling crisis
U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in calming financial markets and would have a program to cleanse toxic assets from banks' balance sheets up and running by July.
May 20, 2009
Beauty business helps puts pretty face on recession
As the economy gets ugly, droves of out-of-work Australians, male and female, are finding a career in beauty really pays.
May 20, 2009
Geithner says making headway in battling crisis
Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in settling financial markets and said a program to cleanse so-called toxic assets from banks' balance sheets will start operating over the next six weeks.
May 20, 2009
Obama vehicle plan another pothole for ethanol
President Barack Obama's tough fuel economy program for vehicles could put another damper on the struggling ethanol business, because the alternative fuel packs a lower energy content than gasoline.
May 20, 2009
Oil pushes above $62 on U.S. inventory data
Oil prices briefly pushed above $62 a barrel on Wednesday to touch a new six-month high on bullish inventory data and a spate of refinery accidents in the United States, in spite of weak market fundamentals.
May 20, 2009
Green
The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.
May 20, 2009
Target posts better-than-expected profit, shares rise
Target Corp reported a better-than-expected quarterly profit on Wednesday, as the No 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.
May 20, 2009
Target, BJ's Wholesale results beat the Street
Target Corp reported a better-than-expected profit on Wednesday as the No. 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.
May 20, 2009
Microsoft 'Kumo' search engine hopes to shake up Google's market share
Microsoft is set to unveils its long-awaited next-generation search technology, code-named Kumo, next week at the D: All Things Digital technology conference in California, according to reports.
May 20, 2009
Opel bidders line up ahead of Wednesday deadline
Italy's Fiat , car parts group Magna and investment firm RHJ were all expected to submit offers for Opel, the German unit of U.S. carmaker General Motors , by a Wednesday deadline.
May 20, 2009
Novartis buys cancer drug unit, gets generics boost
Novartis AG is buying the injectable generic cancer drugs business of Austria's EBEWE Pharma and may pursue other similar deals as it fleshes out a planned diversification away from brand-name treatments.
May 20, 2009
Verizon CFO says happy with second quarter so far
Verizon Communications Inc Chief Financial Officer John Killian said he is happy with growth trends so far in the second quarter and he expects 2009 to be a good year for revenue and cash flow growth.
May 20, 2009
Verizon CFO says happy with Q2 so far
Verizon Communications Inc Chief Financial Officer John Killian said he is happy with growth trends so far in the second quarter and he expects 2009 to be a good year for revenue and cash flow growth.
May 20, 2009
WaMu asks bankruptcy court to rule on dispute with JPMorgan
Washington Mutual Inc has asked a bankruptcy court to rule on its dispute with JPMorgan Chase & Co over more than $4 billion in deposits, according to court documents on Wednesday.
May 20, 2009
China signs $10 bln loan-for-oil deal with Brazil
BEIJING, May 19 (Reuters) - China agreed to lend $10 billion to Brazil's Petrobras (PETR4.SA)(PBR.N) in return for guaranteed oil supply over the next decade, in a deal cemented on Tuesday as Brazilian President Luiz Inacio Lula da Silva ended a state visit.Lula and Chinese President Hu Jintao signed 13 agreements in all, covering science, space, law, ports and farm products, the official Xinhua news agency said. It did not provide details.The loan will come from China Development ...
May 20, 2009
Pfizer strikes deals in generics, emerging markets
Pfizer Inc has struck licensing agreements with two Indian-based companies, as the world's largest drugmaker seeks new avenues of growth in generics and emerging markets.
May 20, 2009
Fiat expansion stirs resentment in Italy's south
Staring at the locked gates of a Fiat car factory, Mimmo Vacchiano says many families in this poor corner of southern Italy face a stark choice unless its turnstiles reopen.
May 20, 2009
Verizon CFO says happy with growth so far in Q2
Verizon Communications Inc Chief Financial Officer John Killian said he is happy with growth trends so far in the second quarter and he expects 2009 to be a good year for revenue and cashflow growth.
May 20, 2009
Russia links nuclear talks to U.S. anti-missile plan
The United States must allay Russian concerns over its planned anti-missile system in Europe if the two sides are to achieve a breakthrough on cutting nuclear weapons, Russia's foreign minister said on Wednesday.
May 20, 2009
Serbia seeks new ties with U.S. during Biden visit
Serbia's president told visiting U.S. Vice President Joe Biden on Wednesday he hoped to open a new page in relations with Washington, ten years after NATO bombed the Balkan country over its conduct in Kosovo.
May 20, 2009
Wall Street rises on banks
Stocks rose on Wednesday after a successful share offering from Bank of America boosted optimism about the financial sector, and McDonald's and Procter & Gamble jumped after bullish analyst comments.
May 20, 2009
Obama sees some return to normalcy in markets
U.S. President Barack Obama said on Wednesday he saw some return to normalcy in financial markets but there was still much long-term work ahead to right the shaky economy.
May 20, 2009
Terminated Chrysler dealerships to challenge sale
Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.
May 20, 2009
U.S. appeals in anti-dumping compliance case at WTO
The United States launched an appeal Wednesday in a dispute with Japan at the World Trade Organization over its treatment of unfairly-priced imports.
May 20, 2009
Roadside bomb kills two Americans outside Kabul
A roadside bomb killed two Americans, including a soldier, in an attack on a U.S. military convoy on the outskirts of the Afghan capital on Wednesday, officials said.
May 20, 2009
Myanmar junta allows glimpse of Suu Kyi trial
Army-ruled Myanmar opened the trial of opposition leader Aung San Suu Kyi on Wednesday in an apparent bid to calm growing international outrage at the regime and its latest crackdown on the Nobel Peace laureate.
May 20, 2009
Opel bidders line up ahead of deadline
Italy's Fiat , car parts group Magna and investment firm RHJ were all expected to submit offers for Opel, the German unit of U.S. carmaker General Motors , by a Wednesday deadline.
May 20, 2009
India PM meets president to form new government
Indian prime minister-elect Manmohan Singh said Wednesday his coalition had support for a clear majority in parliament after he formally sought approval from the president to form the next government.
May 20, 2009
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