Switzerland's largest bank, UBS , confirmed a first-quarter net loss of 2 billion Swiss francs ($1.76 billion) on Tuesday on the back of yet more writedowns, as client withdrawals continued, and said it remained cautious.
The officials cited expectations of renewed consumer spending and said the Fed would have to work to avoid inflation when the recovery begins.
Pending sales of previously owned homes rose for a second straight month in March, while construction spending edged higher, according to reports on Monday that suggested moderation in the long housing slump.
The U.S. dollar edged up from a six-week low on Tuesday after news the U.S. Treasury will instruct about 10 banks to raise more capital injected caution into markets and capped gains in Asian stocks.
The U.S. Department of Energy granted $13 million to Universities in the U.S. for combustion and emission controls research and development projects that will increase vehicle fuel economy in the near to mid-term, the department said Monday.
American International Group Inc is expected to post a first-quarter loss on Thursday, but the insurer's results will not trigger a new capital injection from the U.S. government, a source familiar with the matter said on Monday.
U.S. regulators have deemed that about 10 of the 19 U.S. banks being stress tested will need to raise more capital, according to a source familiar with official talks.
The Research In Motion (RIM) BlackBerry Curve has outsold the Apple iPhone in the first quarter of 2009, according to a NPD report.
Citigroup may put more employees on commission or offer them larger base salaries as it tries to retain key staffers without running afoul of laws limiting executive pay at banks that receive government funds.
Like prodigal sons, China's exporters are returning home to sell their products as global economic gloom takes a toll on their overseas orders.
Bank of America Corp , denying a media report, said it had no plans to raise $10 billion in common equity, while another report said Citigroup Inc was looking to raise capital from private investors.
Corrects 2nd para to show US regulators asked Wells Fargo to raise capital
General Motors on Monday said it will proceed to sell its Saturn unit, in a secured agreement with a specific buyer later this year, which has 400 retailer locations in the U.S. and Canada.
Australian Dollar: The Aussie dollar shrugged off some woeful local economic data yesterday to continue its recent surge higher.
U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.
President Barack Obama's administration will face a big test on fighting climate change when it seeks to determine if ethanol, the top U.S. alternative motor fuel, cuts greenhouse gas emissions.
The largest U.S. banks made the case to regulators on Monday that they have the financial firepower to withstand a deeper recession, as Bank of America denied a report it was trying to raise capital of $10 billion.
Chrysler asked the U.S. Bankruptcy Court on Monday for a swift hearing into its planned sale to Italy's Fiat SpA , eliciting immediate objections from some secured lenders.
China increased its goal for wind power generation capacity by the year 2020 to as much as 100 000 megawatts, from 30 000 megawatts that the Chinese government had set 18 months ago, Chinese newspaper China Daily reported on Monday.
Democrats in the U.S. House of Representatives will seek passage in coming weeks of $94.2 billion in emergency money for the wars in Iraq and Afghanistan and other programs, including $2 billion more to prepare for an influenza pandemic.
U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.
U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.
