Stocks jumped on Thursday after Wells Fargo said it expects to report a record quarterly profit, fueling a month-long rally prompted by hopes that deterioration in the financial sector was abating.
Wells Fargo & Co said it expects to post a record $3 billion first-quarter profit, causing its shares to soar 31.7 percent and providing a welcome jolt to the stock market and a still-troubled banking sector.
Regulators opened a debate on Wednesday on how the United States, trailing many industrialized countries in access and adoption of high-speed Internet, can extend the technology to low-income and other under-served areas.
President Barack Obama, saying he was committed to a strong U.S. auto industry, announced on Thursday the government would buy 17,600 new fuel-efficient vehicles from ailing American automakers by June 1.
3M Co said on Thursday that it had offered early retirement packages to about 3,600 U.S. employees, or 11 percent of its workforce, as the diversified manufacturer continues to respond to reduced demand for its products brought on by the economic downturn.
U.S. stocks jumped on Thursday after Wells Fargo said it expects to report a record quarterly profit, fueling a month-long rally prompted by hopes that deterioration in the financial sector was abating.
Oil prices rose nearly 5.8 percent on Thursday, fueled by a rally on Wall Street and data showing that the number of workers filing new claims for unemployment benefits fell last week.
A day after Warren Buffett's Berkshire Hathaway Inc lost its triple-A credit rating, its shares rose to the highest since mid-January after Wells Fargo & Co , one of its largest investments, projected a surprise $3 billion first-quarter profit.
Somali pirates defied international naval powers on Thursday to keep an American ship captain hostage on a lifeboat in the Indian Ocean after their first seizure of U.S. citizens.
The head of the U.S. spy satellite agency, the National Reconnaissance Office, has announced his resignation, a spokesman said on Thursday.
U.S. energy costs for gasoline and electricity are lowest in the state of Wyoming, while Hawaii ranks the highest, according to a new survey focusing on individuals, families and small businesses.
As automakers unveil smaller electric cars and hybrids at the New York International Auto Show this week, Volkswagen’s President and chief executive insists the industry not only should develop those vehicles, but also improve fuel-efficient gas and diesel models.
General Motors Corp is preparing a new offer to bondholders for a debt restructuring critical to its turnaround that may be far worse than terms the automaker had provided previously, CNBC reported on Thursday.
Many U.S. retailers posted smaller-than-expected sales declines for March in a sign that shoppers may be regaining confidence to open their wallets after more than a year of recession.
Stocks jumped on Thursday after Wells Fargo said it expects to report a record quarterly profit, providing a ray of hope for the struggling financial sector and adding fuel to the month-long rally.
Led by traditional banking activities, Wells Fargo & Co. said Thursday that its business in the first quarter was strong, adding that the purchase of Wachovia had exceeded expectations.
The U.S. recession is likely to grind on for some time, especially as strains in credit markets continue, a top Federal Reserve policy-maker said on Thursday.
Russia opposes new sanctions against North Korea and believes that imposing sanctions would be counterproductive, the Russian foreign minister said Wednesday.
What's better than listening to a $20 relaxation CD at home? Having a relaxing massage for half the price on a white-sand beach. Boracay, one of the most commercialized islands of the Philippines, is a seven-kilometer-long paradise island where tourists flock to
Oil prices rose more than 3.5 percent on Thursday, fueled by a rally on Wall Street and data showing that the number of workers filing new claims for unemployment benefits fell last week.
Stocks rallied on Thursday as Wells Fargo gave preliminary first-quarter results that were stronger than expected, providing a ray of hope in the struggling financial sector.
