General Motors should focus on making money and repaying U.S. Treasury loans before turning to public markets to sell the taxpayer's stake in the automaker, a senior government official said.
Aetna Inc on Wednesday said it expects to eliminate roughly 1,250 jobs by the end of March 2010, reflecting weak economic conditions and the potential impact of health care reform.
The U.S. House Financial Services Committee voted on Wednesday to approve a proposal that would empower government regulators to break up large financial firms that threaten economic stability.
New U.S. housing starts in October unexpectedly fell to their lowest level in six months, weighed down by a sharp decline in construction activity for both single-family and multi-family dwellings, a government report showed on Wednesday.
The U.S. recession that began in December 2007 cost the top metropolitan areas all of the 2.29 million jobs they had gained in the previous expansion, according to a report released on Wednesday.
Iraq's Sunni Arab vice president vetoed an election law on Wednesday, prompting poll workers to halt some preparations and casting new doubt on whether the vote can take place in January.
Cuba's Raul Castro has kept the system his brother Fidel used to repress critics, refusing to free scores of people imprisoned years ago and jailing others for dangerousness, Human Rights Watch said in a report issued on Wednesday.
President Barack Obama said on Wednesday he believes the U.S. military prison at Guantanamo Bay, Cuba, can be closed next year, but he acknowledged that he will not meet his original January deadline.
Republican Senator John McCain on Wednesday strongly defended the top advisers from his 2008 presidential campaign in the face of sharp criticism from his vice presidential running mate, Sarah Palin.
Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
U.S. stocks broke three days of gains on Wednesday following worrisome outlooks from two major software makers and a surprising drop in home construction last month.
Third quarter Wage Cost Index data came in right on expectations increasing by 0.7% for the quarter and 3.6% on an annualised basis keeping the Aussie between 0.9290 and 0.9320 during morning trade. A story on Bloomberg quoting Chinese Central Bank adviser Fan Gang, who also heads the National Institute of Economic Research, as saying double digit growth in China would not be good as it poses a risk of promoting a property and commodity market bubble put a dampener on the AUD. With Chinese eco...
DirecTV Group Inc said on Wednesday it will appoint PepsiCo Inc executive Michael White as its new chief executive starting on January 1.
Microsoft Corp has been ordered by a Chinese court to stop selling versions of its Windows operating systems that include fonts designed by a local company, citing a violation of licensing agreements.
Private equity firms will need to become more like asset managers, offering buyouts as just part of their portfolio, or else focus tightly on specific sectors in order to prosper, industry participants said.
Michael Jackson's family was aware of his drug addiction, intervened to stop him but was not successful, Janet Jackson said in an interview airing tonight on ABC's Good Morning America.
A sustained U.S. economic recovery is unlikely until all banks, and not just the big institutions bailed out with government funds, start to recover from the effects of the financial crisis, according to longtime investment strategist Don Coxe.
U.S. stocks fell on Wednesday, threatening to end three days of gains, following worrying outlooks from two major software makers and a surprise drop in home construction last month.
Capacity to produce fuel ethanol from corn nearly tripled between January 2006 and January 2009. However, over the past 18 months, a combination of surplus production capacity, the decline of gasoline prices from their mid-2008 peak level, and high corn prices that boosted producers' input costs have resulted in a sharp decline in ethanol margins. The combination of economic pressures on capacity led some producers to idle plants, and in some cases, file for bankruptcy.
BJ's Wholesale Club Inc reported a 37 percent drop in quarterly profit on Wednesday, hurt by a charge for a proposed legal settlement regarding worker pay.
Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
The Obama administration wants a fast-track initial public offering of General Motors Co GM.UL shares to reduce its majority stake in the automaker, a senior official said.
