Gold shot up above $1,500 an ounce on Wednesday for the first time ever as worries over the health of the global economy boosted the metal as a safe haven.
Shares of Biogen Idec Inc. (NASDAQ: BIIB) touched a new life-time high of $83.99 on Tuesday. The company said it received positive opinion for Avonex Pen against multiple sclerosis from the European Medicines Agency’s Committee for Medicinal Products for Human Use.
Spot gold prices breached $1,500 for the first time and silver hit a 31-year high on Wednesday, supported by a weak dollar and concerns over a sovereign debt crisis in the euro zone.
A repeat of a corporate tax holiday that found little success in stimulating the economy in 2005 is still a long-shot to jump-start a stagnant U.S. economy, says a University of Illinois expert in corporate and international taxation.
U.S. stock markets gained for the first time in four days on Tuesday as stronger-than-expected report on new home starts and encouraging quarterly results from Johnson & Johnson helped lift the markets.
Roche Holding AG's arthritis and cancer drug, Rituxan, received approval from the U.S. Food and Drug Administration (FDA) to treat two rare disorders that cause blood vessel inflammation.
Stock index futures pointed to a stronger open on Wall Street on Wednesday, with futures for the S&P 500 up 0.8 percent, Dow Jones futures up 0.5 percent and Nasdaq 100 futures up 0.8 percent at 0847 GMT.
Several media outlets have decried the Federal crackdown of online poker in the recent gambling indictment in line with the 2006 UIGEA law.
Power company AES Corp. (NYSE: AES) announced an agreement to acquire smaller rival DPL Inc. (NYSE: DPL) for $3.5 billion, or $30 a share, in cash. The deal is the latest in the wave of consolidation in the power industry, as companies seek to add customers to offset high regulatory barriers and aging power grids.
Upbeat earnings from companies including chip maker Intel lifted stocks and boosted appetite for riskier assets on Wednesday, driving commodities higher and the Australian dollar to a 29-year high versus the dollar.
Bank of America Corp plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesday.
The high-profile insider trading trial of hedge fund manager Raj Rajaratnam enters its closing phase on Wednesday and will turn on whether prosecutors or defense lawyers can summarize their case in a way that most resonates with jurors.
President Barack Obama may face a tough audience when he brings his tax-hike-for- billionaires message to Facebook on Wednesday -- Silicon Valley is full of the sort of people the president wants to pay more taxes.
Japan's exports fell in March at a faster pace than economists expected, in a sign that shipments will continue to weaken and hurt economic growth after last month's earthquake and tsunami sparked a nuclear crisis and disrupted supply chains for many manufacturers.
Asian stocks rose on Wednesday as strong results from chip maker Intel Corp prompted a rally in tech shares, while renewed strength in metals prices boosted materials companies and also lifted the commodity-linked Australian dollar.
Iran, prominent member of the oil cartel Organization of Petroleum Exporting Countries (OPEC) and long-time adversary of the U.S, has objected to the move by certain members of the oil exporting cartel to raise output in order to clam markets and ease oil prices.
Luxury car makers that have learned the ropes in the familiar markets of Europe and the United States are having to adapt to new ways in China, but with the market expected to boom, they have little choice but to get on board.
Japan's exports fell in March from a year earlier at a faster pace than economists expected, in a sign that shipments will continue to weaken and hurt economic growth after last month's earthquake and tsunami sparked a nuclear crisis and disrupted supply chains for many manufacturers.
Yahoo Inc posted quarterly earnings that topped Wall Street targets, and its shares rose more than 3 percent as Chief Executive Carol Bartz said the number of users and time spent at Yahoo sites rose from a year ago.
Fiat SpA's plans to get majority ownership of U.S. No.3 car maker Chrysler are likely to continue to attract investors' attention when the Italian carmaker reports first quarter results on Wednesday.
Yahoo Inc posted quarterly revenue slightly ahead of Wall Street targets and shares rose 3 percent.
Global makers of products from motorcycles to mobile phones are finding it harder to get the parts they need after Japan's earthquake and tsunami wrecked supply chains, and investors worry that the worst is yet to come for earnings.
