The broader U.S. stock market was flat after an earlier rebound fizzled out on Thursday on concerns about technology spending in the new year and anxiety that Friday's payrolls data will offer fresh evidence the economy is headed into a recession.
Crude oil futures rose to a new record of $100 a barrel on Thursday after an Energy Department report showed that crude inventories fell by 4 million barrels last week, ahead of the 1.7 million barrel decline analysts had expected.
Gold futures escalated to a new 28-year high on Thursday, increasing their gains after rallying more than $20 in the previous session as investors snapped up the precious metal on record breaking oil prices and amidst concerns of further tension in Pakistan, analyst said.
Kenya's President Mwai Kibaki offered to talk to political rivals on Thursday as corpses lay in the street and smoke rose from burning slums after a day of battles between police and anti-government protesters.
General Motors Corp Chief Executive Rick Wagoner said on Thursday the No. 1 U.S. automaker expects overall 2008 U.S. auto sales to be about the same as the depressed levels of 2007, even as global sales hit a new high.
There are some obvious reasons for concern, but on balance I suspect '08 will be similar to '07 in total, although likely weaker in the first half and stronger in th...
Oil prices broke above $100 a barrel for the first time on Thursday after a U.S. government report showed a steep slide in crude inventories in the world's biggest energy consumer.
China's Lenovo Group Ltd introduced its first consumer computers in the United States on Wednesday, expanding in a region it entered in 2005 with the purchase of IBM's PC business. The unveiling of three new notebook computers with advanced features is part of a broader expansion by Lenovo into the global consumer PC market. The company also plans to sell the new consumer computers in ...
Factory production shrank in December for the first time in nearly a year as tighter lending conditions and a slowing economy took their toll, according to a national survey published on Wednesday.
National City Corp, one of the 10 largest U.S. banks, on Wednesday said it will cut its common stock dividend 49 percent and eliminate 900 jobs as it stops offering mortgages through brokers, and it plans to raise more capital to cope with weakened credit markets. The Cleveland-based company cut the quarterly dividend to 21 cents per share from 41 cents. Chief Executive Peter Raskind said the cut ...
Stocks looked set to open lower on Wednesday, with the focus on economic data for clues about the outlook for growth and the Federal Reserve's next monetary policy move. Worries about the still escalating U.S. housing crisis and its implications for the overall economy point to a subdued start to the new year, Germany's Postbank said in a daily note.
The storied rivalry between Jay Leno and David Letterman takes a new twist on Wednesday when the two stars of U.S. late-night television return to the air two months into a bitter strike by TV and film writers.
Pakistan plans to postpone next week's election after Benazir Bhutto's killing sparked turmoil in the nuclear-armed country, but officials put off a final announcement until Wednesday to consult parties.
The Federal Communications Commission has approved new rules giving broadcasters more flexibility in making the switch to digital television from traditional analog signals.
The pace of existing home sales edged up in November from a record low, according to a report on Monday that offered some tentative signs of stabilization in the still-ailing housing market.
As more banks report write-downs tied to the global credit crunch, analysts say Wachovia Corp may have losses lurking in an area that has garnered less investor attention.
U.S. and European banks including Citigroup Inc and HSBC Holdings PLC are considering selling off
President George W. Bush intends to veto defense authorization legislation over a provision that would imperil Iraqi assets held in the United States, the White House said on Friday.
Benazir Bhutto was laid to rest next to her father in the family mausoleum on Friday after the opposition leader's assassination plunged Pakistan into crisis and triggered violent protests.
About 38 percent of U.S. consumers are watching TV shows online, 36 percent use their cell phones as entertainment devices and 45 percent are creating online content like Web sites, music, videos and blogs for others, according to a new-media survey from Deloitte & Touche.
U.S. and European banks including Citigroup Inc and HSBC Holdings PLC are considering selling off parts of their businesses as they prepare for tough times ahead, the Wall Street Journal reported.
Economic pressures and online deals might have led consumers to sharply limit their trips to retailers in the week leading up to Christmas, data tracker ShopperTrak RCT said on Thursday.
Pakistan opposition leader Benazir Bhutto was assassinated by a suicide bomber on Thursday, plunging the nuclear-armed country into chaos ahead of a general election she hoped to win.
