President Barack Obama won support from top bankers on Friday for his efforts to rid financial institutions of bad debts, but differences remained over broader U.S. plans for the financial industry.
Wall Street capped a strong week on a down note on Friday as investors booked profits in the wake of the recent upward surge and bank shares dropped after bank executives indicated March had been a tougher month for the industry than the previous two.
President Barack Obama will announce the next steps to help General Motors Corp and Chrysler LLC on Monday, the White House said, amid signs of progress for GM in talks aimed at slashing its debt and cutting costs in response to slack demand.
U.S. stocks slid on Friday as investors booked profits in the wake of a recent surge, and bank shares dropped after several bank executives indicated March had been a tougher month than the previous two.
Technology companies like Sybase and VeriSign are looking to tap robust growth in the nascent U.S. mobile banking market as text message use rises and banks aggressively explore ways to save.
Stocks slipped on Friday as investors took profits following a recent surge, and energy shares drooped along with the price of oil.
U.S. stocks fell on Friday as investors booked profits following a recent rapid surge, while the energy sector dropped along with the price of oil.
Japan on Friday ordered its military to prepare to intercept any dangerous debris that might fall on its territory if a rocket launch planned by North Korea goes wrong.
President Barack Obama will quiz top U.S. bankers on Friday about developments in the economy and their businesses as his administration seeks broader authority to regulate the financial system.
Wall Street was set for a lower open on Friday as investors assessed the strength of a recent surge that has March on track to see the biggest monthly percentage gain since 1974.
Japan slipped to the brink of deflation and inflation in Europe slid closer to zero, underlining a threat to the world economy before next week's G20 summit which is supposed to produce a cure for the crisis.
Stock index futures pointed to a lower open on Friday as investors reassessed a recent surge that has March on track to see the biggest monthly percentage gain since 1974.
U.S. stock index futures pointed to a lower open on Wall Street on Friday following the previous session's strong gains, with futures for the S&P 500 down 0.6 percent, Dow Jones futures down 0.6 percent and Nasdaq 100 futures down 0.7 percent at 1000 GMT (6 a.m. EDT).
Japan slipped to the brink of deflation and inflation in Europe slid closer to zero, underlining a threat to the world economy before next week's G20 summit which is supposed to produce a cure for the crisis.
Wall Street faces curbs on risk taking and the prospect of lower profits under sweeping U.S. proposals to prevent a repeat of the credit crisis.
President Barack Obama said on Thursday the administration would unveil its next steps to help the troubled U.S. auto industry in the coming days, provided the companies push ahead with a sweeping restructuring.
President Barack Obama said on Thursday that struggling U.S. auto companies could expect some government aid if they commit to restructuring their businesses and that an announcement on the issue was coming soon.
Treasury Secretary Timothy Geithner on Thursday called for broad reforms to curb risk taking on Wall Street, including a new regulator to oversee the entire financial system in a bid to restrain behavior that led to the worst credit crisis since the 1930s.
Iran said on Thursday it would attend a U.N. conference on the future of Afghanistan which was proposed by Tehran's old foe the United States and called for a regional solution to the crisis.
President Barack Obama defended his strategy of tackling multiple challenges instead of focusing solely on fixing the U.S. economy in a return on Wednesday to the political fund-raising that helped elect him.
Treasury Secretary Timothy Geithner said sweeping new rules of the game are required to make sure the financial system is regulated tightly enough that it cannot again threaten the entire economy.
A key congressional committee on Wednesday approved a $3.45 trillion budget framework for next year that embraces many of President Barack Obama's priorities but spends slightly less than he sought.
