New York City should invest more of its pension funds in international equities and other assets because improving returns would help the city with its soaring contributions, Deputy Mayor Robert Steel said on Thursday.
Federal Reserve Chairman Ben Bernanke warned Congress on Thursday that overzealous cuts to government spending could derail an already fragile recovery and said a U.S. debt default could wreak financial havoc.
The number of Americans claiming initial unemployment benefits dropped last week, but remained elevated and retail sales barely rose, suggesting the economy would struggle to regain speed in the second half.
American voters believe former President George W. Bush is primarily responsible, not President Barack Obama, for the U.S. economy's poor condition, a poll released Thursday indicated. What's more, 48 percent of those polled said they would blame the Republicans if the debt ceiling is not raised, while 34 percent would blame the Democrats.
Stocks were little changed on Thursday as Federal Reserve Chairman Ben Bernanke delivered congressional testimony for the second day and worries about hitting the U.S. debt ceiling dogged investors.
Lean, green, music machine Spotify has landed in the US and its best social features and free music service look set to woo away music lovers from rivals such as Pandora and Rhapsody.
Italy's austerity budget passed its first parliamentary hurdle Thursday but the opposition says Prime Minister Silvio Berlusconi's government is in a shambles and should resign after it is finally approved.
Former Gov. Sarah Palin, R-Alaska, redeployed her controversial gunplay rhetoric Wednesday, saying conservatives should not compromise and agree to raise the U.S. debt ceiling. Palin also said she isn't convinced that a U.S. Government default would be a calamity.
WikiLeaks and the Icelandic IT company DataCell filed a formal complaint to the European Commission on Thursday, saying payment companies Visa Europe and MasterCard Inc violated EU antitrust laws by blocking donations.
Federal Reserve Chairman Ben Bernanke renewed his promise on Thursday that the central bank could put more monetary stimulus into play if the economic recovery stumbles.
Chinese e-commerce company Alibaba.com Ltd said on Thursday that it has signed an agreement with payment provider Western Union for its AliExpress wholesale platform.
U.S. retail sales edged up 0.1 percent in June, after dipping 0.1 percent in May, as a rebound in receipts from auto dealers offset the biggest drop in gasoline sales in a year, the Commerce Dept said.
Wall Street stocks rose on Thursday as higher profit from JPMorgan offset concern after Moody's threatened to downgrade the United States' top credit rating if the federal borrowing limit is not raised.
Stock index futures were little changed on Thursday ahead of earnings from JPMorgan, the first big bank to report its quarterly scorecard as investors look for signs of weakness after a slowdown in the economy.
Los Angeles' car culture is bracing for the temporary closure of Interstate 405, known locally as 'the 405.' The shutdown is needed so workers can expand the highway -- a classic example of short-term pain, for long-term gain.
Stocks rose after the open on Thursday as higher profit from JPMorgan offset concern about Moody's threat to downgrade the United States' top credit rating if the federal debt ceiling is not raised.
Wall Street was set to rise on Thursday as higher profit from JPMorgan offset concern about closing the U.S. budget deficit after Moody's threatened to downgrade the United States' top credit rating.
German media tycoon Leo Kirch died on Thursday after years of illness and without ever resolving his protracted battle with Deutsche Bank, one of Germany's most bitter, drawn-out corporate disputes.
Moody's Investors Service has placed the Aaa bond rating of the U.S. Government on review for a possible downgrade, due to the debt deal talks stalemate in Washington, and the possibility of a U.S. debt default, the credit rating agency announced. Fed Chairman Ben Bernanke also said a default would trigger a major crisis.
Stock index futures rose on Thursday as higher profit from JPMorgan offset concern about the U.S. budget deficit talks and Europe's sovereign debt crisis.
JPMorgan Chase & Co posted higher-than-expected quarterly profit as it wrote off fewer bad mortgages and credit card loans.
China posted a fiscal surplus of 1.25 trillion yuan ($193.3 billion) in the first half of the year as steady economic growth and rising prices lifted government revenues, the Ministry of Finance said on Thursday.
Stock index futures were little changed on Thursday ahead of earnings from JPMorgan, the first big bank to report its quarterly scorecard as investors look for signs of weakness after a slowdown in the economy.
Swedish regulators have raided leading local bourse operator Nasdaq OMX Group in a competition probe sparked by a complaint from a small local rival, officials said on Thursday.
The Windows Phone 7 powered smartphones without a contract, usually, cost around $300-400 and a few cost around $200.
UBS is set to cut around 5,000 jobs to save 1 billion Swiss francs ($1.20 billion) while rival Credit Suisse is planning to axe about 1,000 staff, Swiss newspapers reported on Thursday.
The search engine giant made an official announcement about the website on Wednesday in its official blog.
President Barack Obama clashed with Republican lawmakers on Wednesday in a fierce White House meeting on deficit reduction that left a deal in question as the clock ticked toward a debt default.
When JPMorgan Chase & Co reports second-quarter results on Thursday, Wall Street will care more about its forecasts than its earnings, looking for clues on the direction of the U.S. lending business.
Japanese Finance Minister Yoshihiko Noda warned on Thursday that recent yen strength does not reflect economic fundamentals, escalating a verbal campaign to cool the rising yen although traders saw little immediate chance that authorities would intervene directly in the market.
