Oil fell to around $48 a barrel on Wednesday after U.S. data showing swollen crude stocks, and analysts said there was little sign global demand would soon rise to soak up the excess.
Stock index futures pointed to a higher open on Wednesday after news of government aid for life insurers and a merger among homebuilders spurred optimism and offset a quarterly loss from Alcoa .
U.S. President Barack Obama needs to convince Americans to spend now and save later in order to get the U.S. economy back on solid footing.
Pulte Homes said it would buy Texas-based builder Centex for $1.3 billion in stock, against the backdrop of a troubled industry.
Kimberly-Clark Corp is going green in toilet paper, napkins and paper towels, launching a line of consumer paper products that uses recycled material.
GM edged closer to preparations for possible bankruptcy on Wednesday, a source familiar with the company's plans said, while Germany extended its subsidy for scrapping old cars.
Aluminum producer Alcoa Inc reported a second consecutive quarterly loss on Tuesday, as metal prices and the autos industry slumped and global demand fell in the economic downturn.
Stock index futures pointed to a lower open on Wall Street on Wednesday, as mounting fears over corporate results knocked down stock markets around the world.
More U.S. data showing swollen crude stocks pushed oil below $48 a barrel on Wednesday, and analysts said there was little sign demand would soon rise to soak up the excess.
U.S. securities regulators meet on Wednesday to consider restrictions on short selling, a type of investing blamed by some lawmakers and executives for exacerbating the financial crisis and driving down share prices.
U.S. securities regulators meet on Wednesday to consider restrictions on short selling, a type of investing blamed by some lawmakers and executives for exacerbating the financial crisis and driving down share prices.
World stocks slipped for a third session in a row on Wednesday and government bonds and the low-yielding yen gained as poor earnings from U.S. aluminum group Alcoa sparked concerns about other corporates.
Oil fell by over a dollar below $48 a barrel on Wednesday, adding to Tuesday's 3.7 percent loss on falls for equities and after weekly data showed U.S. crude inventories up far more than expected.
Asian stocks tumbled on Wednesday and the U.S. dollar climbed, with investors bailing out of recent positions and camping on the sidelines to await company outlooks as what is expected to be a grim results season begins.
Oil fell by over a dollar toward $48 a barrel on Wednesday, adding to Tuesday's 3.7 percent loss on falls for equities and after weekly data showed U.S. crude inventories up far more than expected.
Asian stocks slid for a second day on Wednesday while the U.S. dollar climbed, with investors fleeing to the sidelines to await companies' business outlooks as what is expected to be a grim results season begins.
Oil fell by over a dollar toward $48 a barrel on Wednesday, adding to Tuesday's 3.7 percent loss on falls for equities and after weekly data showed U.S. crude inventories up far more than expected.
Libyan leader Muammar Gaddafi Tuesday called Barack Obama a flicker of hope in the middle of the imperialist darkness, but said he feared the president could be assassinated.
The U.S. government has launched an unprecedented array of actions to salvage the economy and stabilize the financial sector that could put up to $10.903 trillion of taxpayers' money at risk.
There's still bad news ahead for the U.S. economy and the bear market for stocks is not over yet, according to a prominent economist who foretold much of the current turmoil.
North Korea says somewhere up in the sky, a satellite it launched at the weekend is beaming to earth two revolutionary paeans: “Song of General Kim Il-sung” for the founder of the reclusive state and “Song of General Kim Jong-il,” for the son who succeeded him when he died.
Bed Bath & Beyond Inc reported a quarterly profit on Tuesday that easily topped Wall Street estimates, as sales were not as bad as feared, helping to send shares of the home furnishings retailer up 13.7 percent in after-hours trading.
