from Antigua to St. Croix in the U.S. Virgin Islands to Miami.
TOKYO - Japan sank deeper into recession with its worst quarterly contraction since the oil crisis in the 1970s, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.
Hillary Clinton, in Tokyo on her first trip abroad as U.S. secretary of state, said Asia and the United States must fight the global crisis together.
The U.S.-Japanese relationship was...
suggesting they still have an immediate need for another $5 billion.
Brad Coulter, director of the Detroit-based turnaround firm Okeefe & Associates, said the final price tag for a GM bailout could approach $50 billion if the market remains depressed.
My real interest in this is how much cash has to be put in, Coulter said.
A parallel set of talks have been under way at GM's smaller r...
PESHAWAR, Pakistan (Reuters) - Pakistan agreed on Monday to restore strict Islamist law in the Swat valley to pacify a revolt by Taliban militants, and a suspected U.S. drone fired missiles in the region killing at least 26 people.
World stocks and the euro fell on Monday while safer government bonds rose as dismal Japanese growth data and fresh concerns about the financial sector fanned worries about the deteriorating global economy.
ABOARD AIR FORCE ONE - President Barack Obama could announce his new auto task force later on Monday, his spokesman said.
I think the unveiling will come later today, Robert Gibbs told reporters on board Air Force One when asked when the president would formally announce his new strategy.
He said the announcement would likely be in a written statement.
Obama has decided to launch a governm...
LONDON - U.S. oil prices slipped toward $37 a barrel on Monday as a raft of bearish economic data focused attention on declining global oil demand.
Japan's economy shrank in the last quarter by its most since the first oil crisis in 1974, hit by an unprecedented slump in exports, which is likely to lead to more calls for extra stimulus steps to fight the deepening recession.
The impact of the ...
WASHINGTON - The $7.2 billion in funding to promote high-speed Internet in the stimulus package is just the first step in the Obama administration's effort to fuel expansion of telecommunications services, an adviser to the president said on Monday.
Despite new federal money, the amount is but a fraction of what is needed to establish the United States in terms of broadband versus other dev...
ROME - U.S. House Speaker Nancy Pelosi defended the United States against accusations of protectionism during a trip to Italy on Monday, following concerns about a Buy American provision in the U.S. stimulus plan.
Somewhere in the mix of things, someone has decided that America has become, is becoming, more protectionist. I don't think that is the case, Pelosi told reporters at the Ital...
Negotiators for General Motors Corp and the United Auto Workers union, staring down a Tuesday deadline for the struggling automaker to submit a plan for its survival to the U.S. government, were making progress in high-stakes talks aimed at cutting GM's costs and debt, a person familiar with the matter said.
LONDON - U.S. oil prices climbed toward $38 a barrel on Monday after the International Energy Agency said there could be an oil market supply crunch from next year once global oil demand begins to recover.
The IEA warning gave upward momentum to a market undermined by a raft of bearish economic data from Asia.
Japan's economy shrank in the last quarter by its most since the first oil crisis i...
TOKYO - Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed on Monday, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.
The grim Japanese figures, coupled with disappointment over the lack of coordinated action from the G7 and worries about bank rescue plans pushed European shares down by 0.6 percent in...
BEIJING - Chinese official media on Monday welcomed the relatively mild line on the yuan currency from a G7 meeting as vindication for its policies, while continuing to pillory Buy American provisions in U.S. rescue plans.
Chinese government officials have so far avoided public comment on the Group of Seven industrialized nations meeting on the weekend that praised China's fiscal measures...
LONDON - U.S. oil prices stayed above $37 a barrel on Monday, as bearish economic data from Asia slowed the upward momentum after a sharp rally at the end of last week.
Japan's economy shrank in the last quarter by its most since the first oil crisis in 1974, hit by an unprecedented slump in exports, which is likely to lead to more calls for extra stimulus steps to fight the deepening recession...
U.S. oil prices climbed above $38 a barrel on Monday after the International Energy Agency (IEA) said there could be an oil market supply crunch from next year once global oil demand begins to recover.
U.S. oil giant Exxon Mobil Corp will not cut back on investments in new crude production, despite the collapse in oil prices, the company's regional head of exploration said on Monday.
As cash-strapped U.S. consumers think twice before buying a coffee or a newspaper, and banks fight for survival, Visa Inc and MasterCard Inc are cutting costs to sustain earnings. In their latest quarterly results, the world's largest payment networks beat expectations by slashing expenses and increasing prices.
President Barack Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.
Consumer demand for data services on mobile phones, such as accessing email or browsing the Web on the go, is rising despite the global economic downturn, a survey released Monday found.
As cash-strapped U.S. consumers think twice before buying a coffee or a newspaper, and banks fight for survival, Visa Inc and MasterCard Inc are cutting costs to sustain earnings.
Merrill Lynch is shifting a majority of its contracts from troubled Indian software firm Satyam Computer Services Ltd to rival Tata Consultancy Services, the Economic Times reported on Monday.
Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed on Monday, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.
