Oil jumps over $56 on jobs, EIA data
Oil rose above $56 a barrel on Wednesday, after news that private sector job losses slowed in April and government data showing an unexpected drawdown in gasoline stocks last week boosted hopes for a turnaround in the economy.
S&P and Dow up, Nasdaq trims loss
Stocks extended gains and the Nasdaq trimmed losses on Wednesday as financial shares gained a day before the release of stress test results while energy shares rose in sync with oil prices' 4 percent jump.
EU launches new tool to stimulate online shopping
The European Commission Tuesday launched a new tool the eYouGuide to stimulate consumer's shopping online and give practical advice on the digital rights consumers have under EU law.
Mexico takes all available measures to restore battled economy
The Federal Government of Mexico has used all available tools to cope with the contingency of flu outbreak and took aggressive measures to restore economy confidence, the Finance Secretary said Tuesday at a press conference.
Data and Disney lift Dow and S&P, but Nasdaq slips
The Dow and S&P 500 gained on Wednesday on reassuring labor market data and Walt Disney's better-than-expected profit, while the Nasdaq dipped as investors took profits on Apple and other bellwether names.
Bell Mobility to sell Palm's Pre
Palm Inc said on Wednesday that Canada's Bell Mobility would start selling its upcoming Pre smartphone in the second half of this year.
Amazon rolls Kindle DX, announces 3 newspaper deals
Amazon on Wednesday launched a next generation Kindle, an e-reader with a large, textbook, magazine and newspaper-friendly screen called the DX.
AIG to post $5 billion loss: source
American International Group Inc is expected to post a first-quarter net loss of about $5 billion when it reports results on Thursday, much lower than the record hit it took in the previous quarter, a source familiar with the matter said on Wednesday.
BofA and Citi need capital
Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, as the U.S. government prepares to release results of industrywide stress tests.
Mexico opens for business after five-day flu shutdown
The Mexican capital began to stir back to life on Wednesday with the streets again clogged with traffic and taco vendors working the sidewalks after authorities lifted a five-day shutdown to try to contain the deadly H1N1 flu.
Befriend Robots on Facebook: The future of social networking?
Facebookers could soon receive a rather strange friend request from a new kind of “friend”, a robot.
Regional airlines hit by falling travel demand
U.S. regional airlines, ExpressJet Holdings Inc and SkyWest Inc said on Wednesday their first-quarter results were weakened by shrinking travel demand in the recession.
U.S. planned layoffs fall to 6-month low in April
Planned layoffs at U.S. firms fell for a third consecutive month in April, hitting their lowest since last October and providing yet another sign that the world's largest economy may be bottoming out.
Daily Forex Commentary - 7 May
Australian Dollar: In what has been a tumultuous 24 hour period the Aussie dollar survived an Asian sell off yesterday to an intraday low of 0.7335 to bounce back in dramatic fashion during offshore trade.
Maersk says raises Asia-Europe shipping rates
Maersk Line, the world's largest container shipper, said on Wednesday it was raising freight rates from Asia to the Mediterranean and on services from Northern Europe to North Africa and the Mediterranean.
Porsche drops goal of dominating VW - sources
Porsche Automobil Holding SE has abandoned its target of reaching a 75 percent majority holding in Volkswagen AG, sources familiar with the matter told Reuters on Wednesday.
Oil jumps to $56 on jobs, EIA data
Oil broke through $56 a barrel on Wednesday, bouncing up from early trade around $54 after separate U.S. data releases showed private sector job losses had slowed in April and crude inventories rose only slightly.
EU telecoms reform goes back to negotiating table
The European Parliament sent a major reform of EU telecoms rules back to the negotiating table on Wednesday due to concerns over perceived inadequate rights for Internet users.
Swedish Pirate Party may get seat in EU Parliament
Sweden's Pirate Party, which wants to reform copyright law, could ride a wave of discontent over tighter control of computer file-sharing all the way into the European Parliament in June.
Crucell posts unexpected Q1 profit, outlook held
Dutch biotech firm Crucell reported a surprise first-quarter profit on Wednesday, its third in a row, on strong sales of paediatric vaccines and the company, widely viewed as a takeover target, reiterated its outlook.
GM to reopen talks with UAW this week
General Motors is set to resume negotiations with the United Auto Workers union this week and believes everything should be open for discussion, the company's chief executive said on Tuesday.
Ericsson urges Bangladesh to issue 3G licences
Ericsson, the world's biggest mobile network maker, called on Bangladesh on Wednesday to issue 3G licences so operators can launch mobile broadband services there.
Nasdaq hurt by profit taking, but data lifts Dow, S&P
The Nasdaq fell on Wednesday, weighed down by profit taking in shares of bellwether names, including Apple, but the Dow and S&P 500 were near breakeven, helped by reassuring news on the labor market and Walt Disney Co's better-than-expected profit.
Italy's UniCredit inks WWF deal to slash emissions
Italian bank UniCredit signed a deal with conservation group WWF on Wednesday to slash its carbon dioxide emissions by 30 percent by 2020, and provide green loans to boost energy efficiency in homes and businesses.
8 students contract Swine flu in New York, WHO prepares vaccine
New York City Mayor Michael Bloomberg said Sunday federal health officials have found that eight prep school students in New York have contracted swine flu, the same flu that has killed more than 80 people in Mexico and infected 1,300 more.
Heritage Oil says makes big Iraq find, shares soar
British oil explorer Heritage Oil (HOIL.L: Quote, Profile, Research, Stock Buzz) said on Wednesday it has discovered up to 4.2 billion barrels of oil in the Kurdish area of Iraq, adding to pressure on Baghdad and the autonomous region to unblock a legal impasse stalling oil projects.
New flu kills 2nd person in US, spreads globally
A Texas woman with the new H1N1 flu died earlier this week, state health officials said, the second death outside of Mexico, where the epidemic appeared to be waning.
Ford plans $550 million plant upgrade
Ford Motor Co on Wednesday unveiled a $550 million investment to convert an SUV plant near Detroit to build a new generation of Focus small cars next year and a battery-electric Focus in 2011.
Flu virus kills Texan, European cases rise
A Texan with H1N1 flu died earlier this week, state officials said, only the second death outside Mexico where the epidemic appeared to be waning.
Pakistan says kills 64 Taliban ahead of U.S. talks
Pakistani security forces attacked Taliban fighters on Wednesday killing at least 64 of them, the military said, after the United States called on the government to show its commitment to fighting militancy.