U.S. securities regulators will seek public comment on five proposals to curb short selling, blamed by some lawmakers and executives for deepening the financial crisis and driving down share prices.
Federal Reserve policy-makers agreed at their March 17-18 meeting that substantial additional purchases of a range of longer-term assets was appropriate to deal with a steep drop in economic activity across all sectors, minutes of the meeting showed on Wednesday.
Oil rose more than $1 a barrel on Wednesday after a U.S. government report showed a surprise draw in commercial distillate stockpiles and equities markets rallied.
Proposals for curbing short selling, blamed by some U.S. lawmakers and executives for worsening the financial crisis and driving down share prices, will be issued for public comment.
Banks and cellphone companies have a long way to go to persuade U.S. consumers to use their cellphones for banking, as many worry about security and extra fees and others are not even aware they can.
The U.S. Treasury said on Wednesday some life insurers have met requirements for government capital investments under an existing rescue plan, clarifying that it is not launching a new bailout for the sector.
General Motors Corp is working hard to meet a June 1 deadline to present an accelerated restructuring plan that is vital for the company whether it goes bankrupt or not, a senior executive said on Wednesday.
Somali pirates hijacked a U.S.-flagged, Danish-owned container ship on Wednesday with 20 American sailors on board, but a Pentagon official said the crew appeared to have retaken control of the vessel.
Leaders of California's scenic Santa Barbara County, site of a 1969 oil spill that galvanized the modern environmental movement, voted on Tuesday to reverse a decision backing new offshore energy development.
Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday.
Banks and cell phone companies have a long way to go to persuade U.S. consumers to use their cell phones for banking, as many worry about security and extra fees and others are not even aware they can.
U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed.
U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed.
The U.S. economy is grim, and the Federal Reserve is duty bound to apply every tool to clean up the financial system and clear a path for a return to sustainable growth, Richard Fisher, president of the Dallas Fed, said on Wednesday.
The U.S. Treasury said on Wednesday some life insurers have met requirements for government capital investments under an existing rescue plan, clarifying that it is not launching a new bailout for the sector.
U.S. stocks rose on Wednesday, lifting the Nasdaq up more than 2 percent, as investors snapped up technology shares following the market's two-day sell-off.
U.S. Interior Secretary Ken Salazar highlighted the potential of offshore wind power in the Atlantic Ocean at a public hearing in Atlantic City, signaling it could replace the amount of energy generated by 3,000 coal-fired plants.
U.S. securities regulators were considering proposed curbs on short selling at a meeting on Wednesday, weighing steps that could restrict a type of investing blamed by some lawmakers and executives for worsening the financial crisis and driving down share prices.
Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday.
Constellation Brands Inc posted a quarterly profit that just missed Wall Street estimates, as a 16 percent drop in wine sales in Europe during the holiday season offset a slight gain in North America, sending shares down 4 percent.
Stocks rose slightly on Wednesday after news of government aid for some life insurers and a merger among homebuilders spurred optimism that offset a quarterly loss from Alcoa .
Chrysler is working around the clock to complete an alliance with Italy's Fiat SpA that would also result in a new board for the U.S. automaker, Vice Chairman Jim Press said on Wednesday.
