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Greenberg and Congress spar over AIG mess

Maurice Greenberg, the former chief executive of American International Group Inc and creator of the doomed unit whose investments triggered its downfall, came under fire from U.S. lawmakers on Thursday who questioned his claims of ignorance.

Factory orders rise in February

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New orders received by U.S. factories rose in February, government data showed on Thursday, breaking a six-month streak of declines and bolstering hopes the economy may be beginning to crawl out of the depths of a recession.
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U.S. factory orders rise

New orders received by U.S. factories rose in February, government data showed on Thursday, breaking a six-month streak of declines and bolstering hopes the economy may be beginning to crawl out of the depths of a recession.
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Car stocks advance as recovery hopes swell

Shares of major carmakers rallied on Thursday after better-than-expected sales in the United States and Europe encouraged hopes that a global auto market collapse could be nearing an end.
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Monsanto beats expectations

Monsanto Co , the world's biggest seed company, posted better-than-expected profit on Thursday as revenues grew in its key corn and soybean seed businesses and it benefited from a low tax rate.
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Accounting rulemakers finalize mark-to-market changes

An independent board that sets U.S. accounting standards bowed to congressional pressure on Thursday and discussed ways to give banks more flexibility to determine the value of toxic assets that have forced billions of dollars in writedowns.
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Senators agree on patent changes

Leaders of the U.S. Senate Judiciary Committee said on Wednesday they had reached agreement on key elements of a bill to revise U.S. patent law.
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Israel's Lieberman links peace with disarming Hamas

Israeli Foreign Minister Avigdor Lieberman said in remarks published Thursday it would be difficult to make progress in peace talks with Palestinians as long as armed Hamas Islamists control the Gaza Strip.
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BofA's Lewis says repaying U.S. may take a while

Bank of America Corp Chairman and Chief Executive Kenneth Lewis said it may take several quarters for the bank to repay its $45 billion of federal bailout money, though he believes the U.S. economy may bottom out in the second half of this year.
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Greenberg says AIG problems not his fault

Maurice Greenberg said he was not responsible for problems at American International Group since they occurred after he left, the Wall Street Journal reported citing an interview with the former chief of the company.
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Wall Street climbs on G20, accounting rules hope

Stocks rose for a third straight session on Thursday on optimism the G20 meeting in London will agree on ways to temper the economic crisis and that new U.S. accounting guidance will favor banks.
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Rite Aid posts loss

Rite Aid Corp posted its seventh straight quarterly loss on Thursday, one that fell short of Wall Street's expectations, as it booked significant non-cash charges and as shoppers continued to curtail spending.
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Mark-to-market rule set to lose a few teeth

U.S. accounting rulemakers are set to crumple on Thursday in the face of ultimatums from lawmakers, liberalizing rules that will give banks leeway to report smaller losses and asset writedowns.
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Wall Street set to rise on G20 hopes

Stock futures pointed to a higher open on Thursday on optimism the leaders at the G20 meeting underway in London will agree on ways to temper the economic crisis.
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Futures point to rise at Wall Street open

Dow Jones futures rose 2.2 percent by 6:40 a.m, EST, S&P 500 futures were up 2.1 percent, and Nasdaq futures were up 2.2 percent, pointing to Wall Street opening higher on Thursday, building on the previous session's gains.
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Oil jumps to above $51 as G20 meets

Oil rose more than $3 per barrel to above $51 on Thursday as rising equities markets bolstered sentiment during a G20 summit which investors hoped would deliver measures to restore global growth.
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AIG problems not his fault, says Greenberg

Maurice Greenberg said he was not responsible for problems at American International Group since they occurred after he left, the Wall Street Journal reported citing an interview with the former chief of the company.
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U.S. jobless claims rise to 26-year high last week

The number of U.S. workers filing new claims for jobless benefits unexpectedly rose to its highest level in over 26 years last week and so-called continued claims jumped to a record high in March, according to data that underscored the labor market deterioration.

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