American International Group Inc
is selling most of its consumer finance unit to hedge fund and private equity firm Fortress Investment Group at a deep discount and taking a $1.9 billion pretax loss due to the sale.The Obama administration on Wednesday nearly doubled to $4.1 billion the size of its foreclosure prevention program to help struggling homeowners hardest hit by falling home prices and rising unemployment.
Stocks tumbled 2 percent and turned negative for the year on Wednesday as softer Chinese factory data and a weaker outlook from the Federal Reserve increased worries about the recovery.
(Corrects to say softer instead of softer-than-expected Chinese factory data in first paragraph)
Google Inc said on Wednesday it will sell advertising spots on 11 cable networks carried by satellite television operator DirecTV Group.
Unemployed homeowners in 17 U.S. states and the District of Columbia will soon be eligible for government help to avert foreclosure under a $2 billion program announced on Wednesday.
Stocks dropped more than 2 percent on Wednesday as worse-than-expected Chinese factory data and a weaker outlook from the Federal Reserve added to worries about the economic recovery.
U.S. securities regulators said on Wednesday they are moving forward with technical fixes to the still-unexplained May flash crash, but some market players say they want a more wholesale review of high-speed trading.
Stocks dropped more than 2 percent on Wednesday as worse-than-expected Chinese factory data and a weaker outlook from the Federal Reserve added to worries about the economic recovery.
U.S. job openings were flat in June while the number of new hires slipped, according to a government report on Wednesday that underscored the persistent weakness in the labor market.
As dozens of U.S. billionaires pledge their fortunes to charity and the country struggles to shake off recession, philanthropy is a growing status symbol of the rich, experts say.
Stocks fell sharply on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve heightened fears of a lackluster global economic recovery.
U.S. job openings were flat in June while the number of new hires slipped, according to a government report on Wednesday that underscored the persistent weakness in the labor market.
Securities regulators on Wednesday said they are moving forward with technical fixes in the wake of the still-unexplained May flash crash, but some market players say they want a more wholesale review of high-speed trading.
Macy's Inc quarterly results on Wednesday showed that the department store retailer boosted sales and gained market share without relying as much on discounts as it rivals did to get shoppers into stores.
The Bank of England left the door open on Wednesday for more monetary easing, cutting its forecast for UK economic growth and predicting that inflation would fall well below its 2 percent target in two years.
Stocks indexes were set to fall more than 1 percent at the open on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve underscored a lackluster global economic recovery.
Stock index futures dropped sharply on Wednesday as weaker manufacturing data in China and a gloomier economic outlook from the Federal Reserve led to mounting concerns about the health of the global economy.
Money managers, academics and regulators converged here on Wednesday to discuss the flash crash that three months ago sent the stock market plunging 700 points within minutes and shook investors' confidence.
China has been buying record amounts of Japanese government debt because it is less risky than U.S. debt, at least in the short term, a Chinese government economist said on Wednesday.
The trade deficit widened a surprising 18.8 percent in June on a surge of consumer goods from China and other suppliers, suggesting second-quarter economic growth was much weaker than previously thought.
The tax investigator thinks she's nearly cracked it. For months the civil servant has pored over storage inventories, confiscated computer files and the bank records of Greek doctors pointing to millions of euros not explained by their pay slips.
General Motors Co is preparing to report second-quarter results that will show a substantial gain over the first quarter in a report it will use to bolster its bid to return to capital markets and pay back taxpayers, two people familiar with the matter said.
Irrespective of the bleak global economic prospects, global oil demand is likely to rise by 2.2 percent for the rest of the year, said the International Energy Agency.
Kazakhstan expected to succumb to Russian pressure for barring wheat exports outside the Commonwealth of Independent states in order to establish monopoly on their grain supplies.
British inflation will fall well below its 2 percent target in two years, even if interest rates remain at record lows, the Bank of England said on Wednesday, leaving scope for further policy easing if the economy worsens.
Corrects level of interest rate to 0.5 percent from 2.0 in 11th paragraph
A New Jersey insurance regulator has concluded that Prudential Financial Inc properly handled life-insurance benefits in a controversial matter involving a U.S. soldier killed in Afghanistan, the Wall Street Journal said on Tuesday.
India is on the cusp of a gold boom this week. With the onset of festival season in India on August 24 (Raksha Bandhan), bullion market is set to boom as demand for the yellow metal will shoot up in the country.
The worried and hassled world of bullion investors heaved a sigh of relief following the release of US Federal Reserve report this week following which the gold prices showed signs of gains.
