The Obama administration may report somewhat better fiscal news when it delivers its mid-session budget review later this week, but the United States still faces a massive deficit and rising debt.
Higher corporate taxes and Wall Street's quick repayment of a taxpayer bailout could see the projected 2010 U.S. budget deficit fall a bit when the review is released on Friday.
The Australian Dollar opens lower against the greenback at 0.8780.
A U.S. judge on Wednesday released former media baron Conrad Black from prison on $2 million bond, while she decides whether to throw out his 2007 conviction for defrauding shareholders.
BP Plc defended its embattled chief executive on Wednesday and denied a report he would leave soon as the company explored a new approach in the Gulf of Mexico to end the worst oil spill in U.S. history.
Britain has pulled an interactive website asking the public to suggest ways of cutting government spending citing attacks after it attracted a range of bizarre proposals and rants against minorities.
American International Group Inc is set to elevate Goldman Sachs Group Inc to the top role for handling the initial public offering of its Asian life insurance unit, sources said on Wednesday, a deal that could raise around $15 billion.
BP denied a report its embattled chief executive would leave soon, as it lined up $7 billion in asset sales to help pay for the worst oil spill in U.S. history, lifting its shares on Wednesday.
More than $12 billion in airplane orders from lessors and Asia-Pacific carriers dominated the third day of the Farnborough Airshow, as manufacturers stood ready to raise their forecasts for the year on the back of strong demand.
Government-controlled British bank Royal Bank of Scotland acknowledged being the mystery buyer of nearly $8 billion in new passenger jets, as an expected flurry of new orders shook up the third day of the Farnborough Airshow.
Asian stocks rose on Wednesday as investors cheered Apple's strong earnings and on optimism that China may roll back policy tightening measures later this year, while the euro firmed ahead of euro zone's bank stress test results late in the week.
BP Chief Executive Tony Hayward will step down within the next 10 weeks, the Times newspaper reported, as the company battles to remain independent after the worst oil spill in U.S. history.
BP Chief Executive Tony Hayward is to step down within the next 10 weeks, The Times reported on Wednesday.
The Aussie sprung to life either side of the Reserve Bank release of the July board meeting minutes moving to an intraday high of 0.8745 before slipping back towards US87 cents.
Goldman Sachs could turn out to be a mere mortal after all.
Large commercial airplane orders stole the show at the Farnborough Airshow on Tuesday, as Airbus raised its orders guidance for the year with the help of a resurgent leasing industry.
Goldman Sachs could turn out to be a mere mortal after all.
Large commercial airplane orders stole the show at the Farnborough Airshow on Tuesday, with Latin American companies sharing the spotlight with a resurgent leasing industry.
Penguin launched on Tuesday the first electronic book with a video tie-in, as the embattled book publishing industry bets on multimedia ebooks to revive flagging growth and boost readership.
French lawmakers began closed-door deliberation on President Nicolas Sarkozy's disputed pensions reform on Tuesday with the government saying it would accept only minor amendments.
Goldman Sachs Group Inc posted lower second-quarter earnings, hurt by its settlement of U.S. Securities and Exchange Commission fraud charges and the UK tax on bank executive bonuses.
Goldman Sachs Group Inc said quarterly earnings tumbled 82 percent, coming in well short of expectations, as trading and underwriting revenue slumped, raising questions about how well Wall Street's preeminent bank can navigate a shifting industry landscape.
Goldman Sachs Group Inc posted lower second-quarter earnings, hurt by its settlement of U.S. Securities and Exchange Commission fraud charges and the UK tax on bank executive bonuses.