Retailer Sears Holdings Corp posted stronger-than-expected quarterly results on Thursday as it cut costs during the recession, and said it was closing 24 additional stores.
The company controlled by hedge fund manager Edward Lampert reported net income of $190 million, or $1.55 a diluted share, for the fourth quarter ended January 31, compared with $426 million, or $3.17 a share, a ...
General Motors Corp said on Thursday it expects auditors to cast doubt on the automaker's ability to remain viable as it endures the worst market in decades.
GM posted a deeper-than-expected quarterly loss as revenue plunged by more than a third. The automaker also warned its pension plans for hourly and salaried workers were underfunded by about $12.4 billion as of the end of 2008.
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U.S. President Barack Obama's call for sweeping investment in clean energy and for carbon cap-and-trade legislation won praise from analysts and the renewables industry, saying it is a rallying call for other nations.
President Barack Obama will forecast a 2009 deficit of $1.75 trillion in a budget proposal on Thursday that sets goals of overhauling the healthcare system and shoring up the U.S. economy.
Oil rose above $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.
Retailer Sears Holdings Corp posted a lower quarterly profit on Thursday as sales fell and it took charges for store closures.
The company controlled by hedge fund manager Edward Lampert reported net income of $190 million, or $1.55 a diluted share, for the fourth quarter ended on January 31, compared with $426 million, or $3.17 a share, a year earlier.
The results included charges ...
Oil rose to $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March.
Abu Dhabi National Oil Co , the main oil supplier in the UAE, said it will sell customers less of its flagship Murban crude oil and three other main grades in April than in March.
The move ca...
Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a source close to the matter.
whether Obama's package is able to put a floor to the slide in the broader economy.
whether Obama's package is able to put a floor to the slide in the broader economy.
Deutsche Post said it was still in talks over a possible cooperation with United Parcel Service , providing a sought-for update on its drawn-out negotiations.
But a tie-up with other providers was also a viable option, Europe's biggest mail and express delivery company said in presentation slides on Thursday.
In 2008, Deutsche Post and UPS agreed to cooperate on air ...
Asian stocks edged lower on Thursday after an early rally fizzled and investors found few incentives to make long-term bets with economic and corporate profit prospects worsening.
U.S. banking regulators are not pursuing nationalization of troubled institutions struggling to shed toxic assets from their balance sheets, the chairman of the Federal Deposit Insurance Corp said on Wednesday.
Nationalization means different things for different people but nationalization is not the route we're pursuing now, FDIC Chairman Sheila Bair told reporters after speaking to a group ...
U.S. banking regulators are not pursuing nationalization of troubled institutions struggling to shed toxic assets from their balance sheets, the chairman of the Federal Deposit Insurance Corp said on Wednesday.
Asian stocks edged up on Thursday as investors bet government stress tests of U.S. banks will bring the ailing industry closer to a fix, while the dollar extended its rally against the yen.
Mounting economic damage and prolonged political uncertainty in Japan have tarnished the yen's safe haven reputation, sending investors back into the dollar despite America's own economic troubles.
An upw...
whether Obama's package is able to put a floor to the slide in the broader economy.
American International Group and U.S. authorities are in advanced discussions over a radical restructuring that would split the insurer into at least three government-controlled divisions in an attempt to keep it afloat, the Financial Times reported on its website, citing people close to the situation.
Citigroup Inc is closing in on an agreement to boost the U.S. government's stake in it to as much as 40 percent, the Wall Street Journal reported on its website, citing people familiar with the situation.
US Treasuries fell in Wednesday's session, after the results of the government's sale of $32 billion of five year notes, the debt instruments considered to be on the long end of the recession /recovery curve
Fashion sales fell victim to consumer cutbacks during the holidays and no respite is in sight this year, but upscale store chain Saks Inc and off-price retailer TJX Cos Inc signaled to investors they were working hard to weather the storm.
Two money managers who oversaw investments for Carnegie Mellon University and other institutions were arrested on Wednesday on charges of running an estimated $550 million, decade-long swindle, the latest in a wave of big financial fraud cases.
Surrounded by wreckage and many destroyed buildings and infrastructure, Palestinians are now seeking to rebuild the destroyed territory and seeking roughly $2.8 billion in foreign aid.
