U.S. stocks climbed on Wednesday after grim growth data offered hints of future expansion, a prospect reinforced by the Federal Reserve's hopeful comments.
Fiat SpA and Chrysler LLC are prepared to complete a merger deal by Thursday that would be taken into bankruptcy court as a key element of the U.S. automaker's restructuring plan if needed, a person with direct knowledge of the preparations said.
U.S. stocks climbed on Wednesday after grim growth data offered hints of future expansion, a prospect reinforced by the Federal Reserve's hopeful comments.
Diversified U.S. manufacturers Textron Inc and Rockwell Automation Inc slashed their 2009 profit targets, saying they saw no sign of the global recession ending any time soon.
Bank of America Corp Chief Executive Kenneth Lewis appeared to survive a push by angry shareholders to push him off the bank's board -- though they may strip him of his job as chairman of the largest U.S. bank.
U.S. stocks rose on Wednesday as the Federal Reserve said the pace of economic deterioration appeared to be slowing, lifting the S&P 500 to levels last seen in January.
Wal-Mart Stores Inc's U.S. customers are spending more on discretionary items as payroll taxes come down and gasoline prices fall, the head of the discounter's U.S. supercenters said on Wednesday.
Oil prices climbed toward $51 per barrel on Wednesday as optimism that the U.S. recession was easing boosted markets and raised expectations of a rebound in energy demand from the world's largest consumer.
Morgan Stanley is not likely to pursue a retail bank acquisition while it scrambles to complete its joint venture with Citigroup Inc brokerage unit Smith Barney, Morgan Chief Executive John Mack said.
U.S. airline shares rallied on Wednesday, partially erasing two days of steep losses, as markets decided that the swine flu outbreak might not significantly crimp travel demand.
Oil prices climbed toward $51 per barrel on Wednesday as optimism that the U.S. recession was easing boosted markets and raised expectations of a rebound in energy demand from the world's largest consumer.
U.S. financial markets are stabilizing as data suggest the recession's worst may be over, but a surprise event like a flu outbreak or fresh bank troubles could send them tumbling anew, bankers and analysts said on Wednesday.
Bank of America Corp CEO Kenneth Lewis, facing a vote that could strip him of the chairmanship of the largest U.S. bank, defended his management decisions before thousands of shareholders at the bank's annual meeting on Wednesday.
Time Warner Inc posted a stronger-than-expected quarterly profit, as a rise in cable network revenue helped offset declines in advertising sales at its AOL Internet and Time Inc publishing units.
U.S. Rep. Barney Frank, chairman of the House of Representatives Financial Services Committee, said on Tuesday he would introduce a bill next week to overturn a three-year-old U.S. ban on Internet gambling.
A Mexican toddler in Texas has died of the new swine flu virus, the first confirmed death outside Mexico, as the World Health Organization said the outbreak showed clear signs of spreading around the world.
(Corrects last paragraph of April 28 story to reflect non-prosecution agreement announced April 7 between PartyGaming
Oil prices climbed toward $51 per barrel on Wednesday, supported by rising stock markets and a bigger-than-expected decline in U.S. gasoline inventories.
U.S. drugmaker Wyeth reported higher-than-expected first-quarter earnings, boosted by cost-cutting, but revenue fell short of forecasts as the stronger dollar hurt overseas sales.
U.S. stocks rose on Wednesday as government data showed a rise in consumer spending and suggested that companies may start to rebuild inventories, even as the economy contracted more than expected in the first quarter.
Diversified U.S. manufacturers Textron Inc and Rockwell Automation Inc slashed their 2009 profit targets, saying they saw no sign of the global recession ending any time soon.
Time Warner Inc posted a stronger-than-expected quarterly profit, as a rise in cable networks revenue helped offset declines in advertising sales at its AOL Internet and Time Inc publishing units.
