Stocks tumbled on Wednesday as a gloomy retail sales report revived recent anxiety about the economy's struggle and caused a broad sell-off that accelerated late in the session.
General Motors Corp and Chrysler plan to shed as many as 3,000 U.S. dealers, Reuters reported.
America is more than a country; it is the ideal of liberty. In economic terms, liberty translates into the entrepreneurial spirit of hard work, risk taking and self-reliance.
EU regulators on Wednesday slapped a record 1.06 billion euro ($1.45 billion) fine on Intel Corp for antitrust violations and ordered it to halt illegal efforts to squeeze out arch-foe AMD.
Honda Motor Co (7267.T) is taking steps to raise output in Japan in preparation for a likely uptick in demand if a bill to offer consumers cash to replace old cars becomes law, its chief financial officer said on Wednesday.
Stocks tumbled on Wednesday as worse-than-expected retail sales hurt shares in the sector, including Wal-Mart Stores Inc, and dampened recent enthusiasm over the economic outlook.
Now that European, South Korean and Japanese authorities have moved against chip giant Intel Corp for breaking antitrust laws, the question is: Are U.S. officials feeling pressure to take action, too?
With General Motors Corp planning to end production of Saturns and Pontiacs at its Delaware plant which employs more than 1,000 people, state leaders are scrambling to win new work at the facility or persuade the company to move other operations to the region.
U.S. mortgage application demand slid to the lowest level since mid-March, driven by a drop in requests to refinance loans even as borrowing costs dipped toward record lows last week, the Mortgage Bankers Association said on Wednesday.
EU regulators on Wednesday fined Intel Corp a record 1.06 billion euros ($1.45 billion) for antitrust violations and ordered it to halt illegal practices used to squeeze out rival AMD.
Stocks slumped on Wednesday after retail sales data came in worse than expected, hurting shares in the sector including Wal-Mart Stores Inc and blurring the economic outlook.
Democrats at the U.S. Energy and Commerce Committee have agreed on a renewable energy standard, greenhouse gas emissions cap and allowances distribution on the climate bill, Chairman Henry Waxman said yesterday evening.
Online classified site Craigslist will replace its erotic services ads with a new adult category to bar flagrant prostitution and porn, the Connecticut attorney general's office said on Wednesday.
The CEO of AIG tried to reassure the U.S. Congress on Wednesday that the bailed-out insurer will be able to repay taxpayer aid within three to five years if the economy permits.
Big emerging countries like China, India, Brazil and South Africa must do more to open their markets to secure a new global trade deal, the U.S. trade chief said on Wednesday.
U.S. stocks retreated on Wednesday after key U.S. retail sales data came in worse than expected, dampening hopes of a quick economic recovery.
Frontier Communications Inc has agreed to buy 4.8 million access lines from Verizon Communications Inc for $5.25 billion in stock, in a deal that triples its size and makes it the largest U.S. communications provider serving rural areas.
Sales at U.S. retailers fell for a second straight month in April, pulled down by sluggish gasoline and electronic goods purchases, government data showed on Wednesday.
The ruling Congress-led coalition was slightly ahead of the opposition Hindu-nationalist alliance in India's general election, but both groups fell short of a parliamentary majority, early projections said on Wednesday.
The U.S. financial system has completed a big part of the painful adjustment away from its excessively leveraged state, and lending is starting to improve, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
The United States now has 3,009 confirmed cases of the new H1N1 influenza across 45 states and Washington, D.C., the Centers for Disease Control and Prevention reported on Tuesday.
Pope Benedict witnessed the watchtowers and high walls that seal Bethlehem off from Jerusalem on Wednesday as he entered the Israeli-occupied West Bank and pressed his call for a Palestinian state.
