IBT Staff Reporter

U.S. house prices tumbled nearly 19 percent in February but for the first time in 16 months the fall did not set a new record, suggesting the housing market might be closer to a bottom.

Apr 28, 2009

Bristol-Myers Squibb Co on Tuesday said its first-quarter profit slipped 3 percent, as negative foreign exchange factors and falling sales of its Erbitux cancer medicine more than offset higher revenue from other medicines.

Apr 28, 2009

Wall Street was set for a drop of about 1 percent at the open on Tuesday as a report that Bank of America Corp and Citigroup Inc may need more capital revived fears about the stability of the struggling financial sector.

Apr 28, 2009

Office Depot Inc reported a quarterly loss on Tuesday as consumers and small business customers reduced their spending on large ticket items like furniture and computers.

Apr 28, 2009

Pfizer Inc reported a better-than-expected first-quarter profit on Tuesday, as cost-cutting helped offset sharply lower sales of its Lipitor cholesterol fighter and its Chantix smoking-cessation drug.

Apr 28, 2009

Prices of U.S. single-family homes fell 18.6 percent in February from a year earlier but the rapid pace of decline slowed, perhaps indicating the housing market may be nudging closer to a bottom, according to Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday.

Apr 28, 2009

Prices of U.S. single-family homes fell 18.6 percent in February from a year earlier but the rapid pace of decline slowed, perhaps indicating the housing market may be nudging closer to a bottom, according to Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday.

Apr 28, 2009

Global airlines were warned on Tuesday of significant falls in traffic due to the outbreak of swine flu, and their shares took another hit on fears that the fallout could be at least as bad as that of the 2003 SARS crisis.

Apr 28, 2009

Japanese power companies will this week report for the first time the cost of buying carbon emissions offsets, a sum likely to rise in coming years as a recession does little to help them achieve self-imposed targets.

Apr 28, 2009

ScottishPower, a unit of Spain's Iberdrola, said on Monday its Whitelee wind farm near Glasgow is to be completed ahead of schedule in the next few weeks.

Apr 28, 2009

Idemitsu Kosan Co (5019.T: Quote, Profile, Research, Stock Buzz) said on Tuesday it plans to invest as much as 600 billion yen ($6.2 billion) over the next three years, mostly on exploration and refining overseas.

Apr 28, 2009

The U.S. Environmental Protection Agency said on Monday it would reconsider three rules issued under the Bush administration that affect how coal-fired power plants account for their air emissions.

Apr 28, 2009

World Energy Solutions Inc, an operator of online exchanges for energy and environmental commodities, hopes to conduct auctions should a U.S. cap and trade market in greenhouse gases develop, its chief executive said in an interview.

Apr 28, 2009

A proposed federal mandate to force power companies to provide up to 25 percent renewable energy by 2025 is likely to have little impact on electric prices though 2020 and negligible impact after 2030, the Energy Information Administration said in a study Monday.

Apr 28, 2009

Oil prices fell toward $49 on Tuesday, extending Monday's losses as declines on global stock markets heightened expectations of a further drop in demand for oil products.

Apr 28, 2009

U.S. regulators have told Bank of America Corp and Citigroup Inc they may need to raise more capital following stress testing of the two banks, The Wall Street Journal reported.

Apr 28, 2009

Fears about a possible global flu crisis and renewed worries over the capital health of some U.S. banks combined on Tuesday to rattle economists' hopes the financial system was stabilizing.

Apr 28, 2009

Removes references in paragraph 2 to Citigroup needing billions of dollars in new capital

Apr 28, 2009

British oil major BP Plc said it was learning to live with oil at $50 per barrel by slashing costs, after the crude price collapse sent first-quarter profit plummeting and debt levels higher.

Apr 28, 2009

Nokia Oyj , the world's biggest mobile phone maker, said on Tuesday it would reduce investment in creating new services, helping it to cut further 450 jobs.

Apr 28, 2009

Pfizer Inc reported a better-than-expected first-quarter profit on Tuesday, as cost-cutting helped offset sharply lower sales of its Lipitor cholesterol fighter and its Chantix smoking-cessation drug.

Apr 28, 2009

The U.S. Treasury Department will on Tuesday tap a $50 billion housing rescue fund to pay off mortgage investors and reduce monthly payments for millions of borrowers, said a senior administration official.

Apr 28, 2009

Stock futures pointed to a lower open on Tuesday as a report that Bank of America Corp and Citigroup Inc may need more capital revived fears about the stability of the struggling financial sector.

Apr 28, 2009

Fears about a possible global flu crisis and renewed worries over the capital health of some U.S. banks combined on Tuesday to rattle economists' hopes the financial system was stabilizing.

Apr 28, 2009

Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 1.3-1.7 percent, pointing to a sharply lower start on Wall Street.

Apr 28, 2009

Japan and China are looking at cooperating on next-generation cellphone services, which would help China develop its wireless technology and Japanese makers expand in China, a Japanese government official said.

Apr 28, 2009

General Motors Corp on Monday offered its final plan to reorganize outside bankruptcy by slashing bond debt, cutting over 21,000 more U.S. jobs and emerging as a nationalized automaker under majority control by the U.S. government.

Apr 28, 2009

Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 1.3-1.7 percent, pointing to a sharply lower start on Wall Street.

Apr 28, 2009

U.S. regulators have told Bank of America Corp and Citigroup Inc they may need to raise more capital following stress testing of the two banks, the Wall Street Journal reported.

Apr 28, 2009