Americans could face higher unemployment for some time to come, President Barack Obama warned on Wednesday, underscoring the tough challenges the country faces even as the economy shows signs of stabilizing.
U.S. investigators searched the New York offices of FTC Capital Markets Inc for evidence in a suspected investment fraud possibly involving hundreds of millions of dollars, a source familiar with the probe said on Wednesday.
Israel is ready to open peace talks with Syria immediately and without preconditions, Prime Minister Benjamin Netanyahu said on Wednesday after talks with U.S. President Barack Obama.
The Federal Reserve said on Wednesday that it saw modest improvements in the U.S. economy last month, but considered increasing purchases of mortgage-related and government debt to spur recovery.
Although well off their all-time highs, American stocks are now marginally up for the current year.
Stocks rose on Wednesday as shares of McDonald's Corp and Procter & Gamble Co advanced on positive broker comments, but profit-taking in financials and the Federal Reserve's cautious comments on the economy kept gains in check.
A bankruptcy court judge on Wednesday said she may rule by next month on efforts by Washington Mutual Inc to get back more than $4 billion in cash deposits to which it lost access when the bank was sold to JPMorgan Chase & Co last year.
The pursuit of German carmaker Opel appears to have narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.
Oil rose 2 percent on Wednesday to touch a six-month high over $62 a barrel as government data showed a steep drop in U.S. crude and gasoline inventories ahead of the summer driving season.
U.S. stocks pared gains on Wednesday as a pullback in financial shares offset positive broker comments on bellwethers McDonald's and Procter & Gamble.
Bank of America Corp Chief Executive Kenneth Lewis, whose bank sold $13.47 billion of common stock this month, on Wednesday said the worst of the economic downturn has likely passed and that conditions will not worsen as much as feared.
Google announced its first partnership with eight utility companies in the United States, India and Canada, to introduce its Power Meter to monitor household electricity usage.
U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in calming financial markets and would have a program to cleanse toxic assets from banks' balance sheets up and running by July.
Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in settling financial markets and said a program to cleanse so-called toxic assets from banks' balance sheets will start operating over the next six weeks.
President Barack Obama's tough fuel economy program for vehicles could put another damper on the struggling ethanol business, because the alternative fuel packs a lower energy content than gasoline.
Oil prices briefly pushed above $62 a barrel on Wednesday to touch a new six-month high on bullish inventory data and a spate of refinery accidents in the United States, in spite of weak market fundamentals.
The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.
Target Corp reported a better-than-expected quarterly profit on Wednesday, as the No 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.
Target Corp reported a better-than-expected profit on Wednesday as the No. 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.
Italy's Fiat , car parts group Magna and investment firm RHJ were all expected to submit offers for Opel, the German unit of U.S. carmaker General Motors , by a Wednesday deadline.
Washington Mutual Inc has asked a bankruptcy court to rule on its dispute with JPMorgan Chase & Co over more than $4 billion in deposits, according to court documents on Wednesday.
BEIJING, May 19 (Reuters) - China agreed to lend $10 billion to Brazil's Petrobras (PETR4.SA)(PBR.N) in return for guaranteed oil supply over the next decade, in a deal cemented on Tuesday as Brazilian President Luiz Inacio Lula da Silva ended a state visit.Lula and Chinese President Hu Jintao signed 13 agreements in all, covering science, space, law, ports and farm products, the official Xinhua news agency said. It did not provide details.The loan will come from China Development ...
