U.S. stocks rallied but lost steamon Wednesday after the Federal Reserve said it would keep rates near zero for an extended period even as it expressed confidence in the economic recovery.
The Australian Dollar opens higher today at 0.9120 against the greenback. As expected, the US Federal Reserve left interest rates unchanged at the current setting of zero to 0.25 per cent. The Aussie moved to an offshore high at time of writing of 0.9143. During the domestic session on Wednesday, the unit slid down to 0.8970 as retail trade fell 0.2 per cent in September. The disappointing number does not support the case for a third consecutive hike in interest rates by the Reserve Bank of Aust...
U.S. clean energy legislation could help create 850,000 manufacturing jobs around the country, a report from a group representing business and environmental interests said on Wednesday.
Kraft Foods Inc faces a tougher task winning over Cadbury Plc shareholders after disappointing results reinforced the view that it will formalize its existing offer for the British chocolatier next week rather than present a higher bid.
U.S. stocks mostly eked out a gain on Wednesday, giving back a big slice of the day's advance after the Federal Reserve reiterated its intent to keep rates low, but gave investors few new reasons to boost holdings.
Comcast Corp's quarterly profit rose a better-than-expected 22 percent, as it sold more phone and Internet subscriptions, helping to fight competition from phone and satellite companies.
News Corp reported lower revenue on Wednesday because of advertising declines at its television stations and newspapers, while profit rose because of stronger performance at its cable television, movie and book units as well as cost cuts.
The U.S. services sector grew modestly for a second month in a row in October and private sector employers cut jobs at the slowest pace in more than a year, adding to signs the economy is crawling back to health.
Chrysler is making an operating profit and building cash, the No. 3 U.S. automaker's boss told reporters and industry executives on Wednesday as he unveiled a five-year plan to turn the company around.
U.S. stocks briefly touched session highs on Wednesday after the Federal Reserve said it would keep borrowing costs near zero for an extended period even though it expressed confidence the U.S. economic recovery was gaining momentum.
Bruce Springsteen is dusting off his catalog once again, as he and the E Street Band have announced two more full-album performances this coming weekend at Madison Square Garden in New York.
Molson Coors Brewing Co said beer volumes continue to decline in the current fourth quarter as consumers remain focused on value, pushing shares down 7 percent despite a better-than-expected quarterly profit.
The top U.S. securities regulator on Wednesday called on Corporate America to modernize its proxy voting practices to give shareholders a greater voice in governing the companies they own.
The Energy Information Administration's (EIA) U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Proved Reserves, 2008 reports that proved reserves of crude oil fell by more than 10 percent in 2008, primarily because of low end-of-year prices used to estimate proved reserves, even though discoveries of crude oil rose for the third year in a row. In contrast, proved reserves of natural gas rose by 3 percent in 2008, despite low end-of-year prices.
The mood in the global automotive industry has shifted to cautious optimism, marked by the unveiling on Wednesday of Chrysler's turnaround plan and General Motors' plan to keep its Opel unit.
Stocks resumed their climb back toward session highs on Wednesday after the Federal Reserve held its stance to keep borrowing costs near zero for an extended period even though it expressed confidence the U.S. economic recovery was gaining steam.
The Obama White House on Wednesday attempted to play down election losses in Virginia and New Jersey in contests that analysts said served as a warning shot to Democrats looking ahead to 2010 voting.
There's a simple way to get Americans to drive fuel-efficient cars, according to auto executives, but they are not going to like it -- sharply hike the gas tax.
(Corrects Molson's ranking to fifth-largest brewer, not third-largest, paragraph 5)
European Union lawmakers approved a list on Wednesday of EU industries that stand to receive help with meeting the cost of permits to emit carbon dioxide.
World powers have a very good chance of reaching a political deal to target global curbs in carbon emissions at a U.N. conference in Copenhagen next month, British climate change expert Nicholas Stern said on Wednesday.
Service Sector Grows; Cuomo Hits Intel; Time Warner Beats Street
