North Korea said on Tuesday it was preparing to launch a satellite on one of its rockets, which analysts have said would actually be the test-firing of a long-range missile designed to strike U.S. territory.
U.S. consumer confidence plunged to another record low in February with expectations that already dire economic conditions will continue to weaken and the jobs market will further deteriorate.
The Conference Board, an industry group, said on Tuesday that its sentiment index fell to 25.0 from a downwardly revised 37.4 in January. The median forecast of economists polled by Reuters was for a readin...
American International Group, rescued twice last year by the U.S. government, is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter in corporate history.
hence time to resolution may take longer than expected, they said in a note.
Toward $100 PER SHARE?
We are not surprised to see Genentech refuse Roche's lower offer, said Andrew Weiss, analyst at Swiss bank Vontobel.
We continue to believe that the Genentech asking price of $112 is too high, and that eventually Roche will need to improve its offer to $95-100.
Genentech shares trade...
Prices of U.S. single-family homes plunged 18.5 percent in December from a year earlier as the monthly pace accelerated, according to a Standard & Poor's/Case-Shiller home price index on Tuesday.
The S&P/Case Shiller composite index of 20 metropolitan areas fell 2.5 percent in December from November, compared with a 2.3 percent decline in the previous period, S&P said in a statement....
As U.S. regulators prepare for a stress test of big banks, the head of the Federal Deposit Insurance Corp said on Tuesday these institutions need adequate buffers against severe economic conditions.
As of this date ... all these large banks exceed regulatory standards for being well-capitalized, so for right now they're fine, FDIC chief Sheila Bair said on CBS television's Early Show.
...
By Jonathan Stempel
NEW YORK - JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.
The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Sha...
Yahoo is set to unveil several tools on Tuesday to help marketers better target their online adverts, as the Internet company tries to win back business during a recession, the Wall Street Journal said, citing senior company officials.
Yahoo, the leading provider of online display advertising, has been under pressure for nearly a year as it held fruitless merger or partnership talks with Microsof...
Oil ticked up above $38 on Tuesday as investors took a fresh look at OPEC's greater than expected success in cutting supplies.
Prices had tumbled earlier following Monday's fall in U.S. stocks to a 12-year low.
The plunge on the Wall Street on Monday overshadowed figures from Petrologistics that OPEC producers were likely to pump less oil in February than January.
A Reuters calculation based ...
is down 52.39 percent or $10.4 trillion.
Diminishing confidence that the U.S. government will be able to stabilize the financial system helped drive the S&P 500 and the Dow to their lowest closes since the spring of 1997 on Monday.
U.S. President Barack Obama set the goal: double U.S. renewable energy production in three years. Congress provided the incentives as part of the $787 billion stimulus package.
The volume of carbon dioxide traded globally this year will increase by 20 percent to 5.9 billion metric tons from 4.9 billion in 2008, research group Point Carbon said on Tuesday.
Top home improvement retailer Home Depot Inc delivered better-than-expected quarterly results on Tuesday as it held down expenses, but said per-share operating profit would fall in 2009.
Home Depot, which is cutting 7,000 jobs as it shutters its Expo Design Center chain and trims corporate costs, also said it would open fewer new stores this year.
The retailer posted a net loss of $...
Yahoo Inc is set to unveil several tools on Tuesday to help marketers better target their online adverts, as the Internet company tries to win back business during a recession, the Wall Street Journal said, citing senior company officials.
President Barack Obama takes center stage on Tuesday to try to sell the American people on his broader agenda for jolting the United States out of deep recession and confronting long-term economic challenges.
The government must swiftly begin spending $83 billion in the stimulus law for cleantech, or recent growth in the sector will quickly turn into bankruptcies, according to a study released on Tuesday.
UBS named Oswald Gruebel, who masterminded a turnaround at rival Credit Suisse, as chief executive on Thursday, replacing under-fire Marcel Rohner as it struggles to end a run of crises.
President Barack Obama has pulled out his most potent weapon -- the dry federal budget -- to try to carry out his promise of change, including winding down the Iraq war, expanding health care and tackling global warming.
UBS AG shares fell to a new all-time low on Tuesday after news the Swiss bank will have to wait until July to fight in court a U.S. bid to force it to disclose client names in a tax fraud probe.
Oil fell toward $38 on Tuesday as global markets tumbled, dragged down by Monday's fall in U.S. stocks to a 12-year low.
Economic worries grew after Wall Street sank on Monday as news the U.S. government was set to raise its stake in Citigroup failed to offset fears that a number of embattled U.S. banks could be nationalized.
European stocks fell on Tuesday and Asian shares hit a th...
Oil prices extended declines on Tuesday, sliding toward $38 on growing economic worries after U.S. stocks slumped to a 12-year low at the previous day's close.
Wall Street shares tumbled on Monday as optimism over reports that the U.S. government could take a bigger stake in Citigroup gave way to fresh questions about whether Washington is doing enough to stabilize the ailing banking...
UBS AG may face a mini-trial in a U.S. court in July as it fights efforts to force it to disclose the names of 52,000 U.S. clients suspected of offshore tax evasion, the New York Times reported on Tuesday.
UBS, the world's largest banker to the rich, agreed last week to pay a $780 million fine and disclose the identity of about 300 of its U.S. clients to avert crimi...
