Officials at UPS said in October that its growth this peak season would be slower than in the previous four years. FedEx last week cut its forecast for the company's current quarter that ended November 30, citing fuel costs and weak freight volumes in its trucking unit.
Stricken British bank Northern Rock (NRK.L) has received more rescue proposals, but warned that one of them contemplated an offer well below Tuesday's closing price, sparking a new slide in its shares on Wednesday.
Deere & Co. (DE.N) reported better-than-expected earnings on Wednesday, and provided an upbeat outlook for the coming year, as strong sales to farmers worldwide offset a downturn in construction sales, especially in the United States.
The mood among consumers hit the skids in November as gasoline prices soared and the housing market downturn threatened to ensnare more Americans, a report showed on Wednesday.A drop in weekly mortgage applications, signs of stress in the labor market and crude oil prices on the cusp of $100 per barrel threw up caution flags on the eve of the critical holiday spending rush.
Shares in Malaysian state-controlled carmaker Proton sank to a near seven-year-low on Wednesday, a day after the government ended talks with Germany's Volkswagen over a possible alliance.
Shares of Freddie Mac fell as much as 9.5 percent on Wednesday after analysts slashed their price targets on the stock, saying an unexpectedly wide third-quarter loss may make it tough for the No. 2 U.S. home funding company to inject the liquidity needed to rescue an ailing housing market.
Mitsubishi UFJ Financial Group Inc, Japan's largest bank, posted a 49 percent drop in first-half profit on Wednesday, hit by subprime-related investments and hefty losses at its credit card unit.
Mary-Kate Olsen, one-half of the acting Olsen twins who gained fame on 1990s television show Full House, has been hospitalized in New York City for a kidney infection, her representative said on Tuesday.
GM's electric car will launch by 2010 despite internal skeptics and worriers, a company chief says
The dollar hit a record low against the euro and a basket of major currencies on Wednesday and the yen rose sharply as concerns on the health of the U.S. economy and global credit markets saw investors flea risky carry trades.
The Internet has become a key teaching tool for Islamist militants who are using it to educate recruits in cyber training camps, crime and security experts said on Wednesday.
Hewlett-Packard Co's better-than-expected quarterly results may raise the bar for competitor Dell Inc , which is more vulnerable to U.S. economic woes and reports earnings next week.
Israeli authorities plan to issue a new anti-hijack identification system to incoming aircraft which they say is foolproof, but some experts are not convinced it will plug all the security holes on the horizon.
India and the International Atomic Energy Agency agreed on Wednesday to start negotiations on putting Indian reactors under IAEA safeguards, clearing a key hurdle to closing a U.S.-Indian nuclear supply pact.
Asset manager BlackRock is set to be signed up as the manager of a $75 billion fund being put together by U.S. banks to help struggling structured investment vehicles (SIVs), the Financial Times said, without citing the source of the information.
Stocks slid on Wednesday as fears of more credit losses and mortgage defaults sunk shares of financial services companies, while worries about the impact of near record crude oil prices hit retailers and shares of big manufacturers.
Dubai raised almost $5 billion selling a stake in port operator DP World in the Middle East's largest IPO, setting the scene for perhaps the biggest test for the emirate's two-year-old bourse where the shares will trade.
World stocks and the dollar tumbled on Wednesday while the yen and government bonds soared as concerns for the health of the U.S. economy stirred the biggest wave of risk aversion since August in global financial markets.
Gold briefly traded over $800 an ounce on Wednesday, bringing recent 28-year highs back into view as oil topped $99 per barrel and the dollar plumbed record lows against the euro.
U.S. oil surged to a nominal all-time high of $99.29 a barrel on November 21, boosting the annual average price to $69.97.
Chrysler LLC's recent decision to cut up to 10,000 factory jobs and slash production in North America tested the credibility of the automaker's new private equity owner, the head of the Canadian Auto Workers said on Tuesday.
Oil held above $98 a barrel on Wednesday, after closing in on the $100 milestone as the dollar hit new lows and cold weather in the United States, the world's biggest fuel consumer, stirred anxiety over winter supplies.
