Small investors angry with Wall Street about their battered portfolios see little relief coming from the U.S. Congress as it attempts the most sweeping overhaul of financial regulation since the 1930s.
Warren Buffett has a great saying, that when the tide goes out, we get to see who's been swimming naked, said Adam Butler, a director of wealth management and associate portfolio manager at Richardson GMP.
The Australian Dollar opens lower today at 0.8210 after another turbulent session. A positive lead from local equities helped to support the currency above US82 cents on Wednesday.
American International Group is on its way to repaying government bailout money, its chief executive said on Wednesday, but a Treasury official warned taxpayers could still face losses.
Treasury Secretary Timothy Geithner and Italian Prime Minister Silvio Berlusconi sought to support the battered euro on Wednesday, but the currency extended its decline on a report that China was reviewing its euro holdings.
The end is not near for the distressed debt cycle, as many middle-market U.S. companies will still have to be restructured because of debt taken on during the credit boom, fund manager PIMCO said on Wednesday.
Wall Street staged yet another late-day reversal on Wednesday to end lower as news suggesting China was reassessing its euro-zone debt holdings pushed investors into profit-taking mode.
Sales of new U.S. homes scaled their highest level in nearly two years in April, while orders for long-lasting manufactured goods surged, giving the economy a firmer foundation to resist possible contagion from Europe's debt crisis.
Wall Street staged yet another late-day reversal on Wednesday to end lower as news suggesting China was reassessing its euro-zone debt holdings pushed investors into profit-taking mode.
A Walt Disney Co employee and her boyfriend have been charged with trying to sell insider information to over 30 hedge funds, including a tip Disney was in advanced talks to sell its struggling ABC television network -- which Disney said was false.
Media conglomerate Tribune Co plans to pay top managers $16.2 million in bonuses and incentives when it exits bankruptcy under its plan of reorganization, according to court documents.
Gold has exploded recently, making new highs against every major currency in the world.
Securities regulators proposed improving market surveillance on Wednesday by tracking stock orders across all U.S. equity markets in real time.
In the depths of what United Parcel Service calls its Primary Matrix, not a soul stands alongside the intricate grid of belts 155 miles long conveying more than a million packages into and out of the hub here daily.
A Walt Disney Co employee and her boyfriend have been charged with trying to sell insider information to over 30 hedge funds, including a tip that the media and consumer giant was in advanced talks to sell its struggling ABC TV network.
One in six American mobile phone users have been shocked by surprise fees and charges in their monthly bills, according to a survey that regulators said highlights the need for more transparency by wireless companies.
American International Group Chief Executive Robert Benmosche said on Wednesday that after the bailed-out insurer repays the government it will no longer be too big to fail.
Wall Street rose on Wednesday as investors scooped up shares battered in the recent correction and data showed new home sales climbed to their highest level in almost two years.
Stocks rose on Wednesday as investors bought shares of beaten-down companies following recent losses, and after new home sales rose last month to their highest in almost two years.
Some of Wall Street's biggest names said they are frightened and worried by the debt crisis in Europe, but still do not expect a double-dip recession in the United States.
Stocks rose on Wednesday as investors snapped up shares of beaten-down companies following recent losses, and after new home sales rose last month to their highest in almost two years.
Bailed-out insurance giant American International Group has slashed its exposure to credit derivatives by nearly two-thirds under government ownership, but a full recovery for taxpayers remains uncertain, a senior U.S. Treasury official said on Wednesday.
Sales of newly built single-family homes rose in April to their highest level in nearly two years, as buyers benefited from a popular government tax credit.
Stocks rose on Wednesday, a day after markets clawed back from a steep sell-off and as Treasury Secretary Timothy Geithner flew to Europe to press for united action to tackle the region's deepening debt crisis.
New orders for long-lasting U.S. manufactured goods rose more than expected in April, boosted by bookings for expensive aircraft, government data showed on Wednesday, but fell for the first time in three months excluding transportation.
New U.S. home sales surged to their highest level in nearly two years in April, while orders for long-lasting manufactured goods rose sharply, pointing to resilience in the economic recovery amid the debt turmoil in Europe.
Treasury Secretary Timothy Geithner said that financial markets wanted to see how a $1 trillion EU/IMF plan to provide back-up financing for euro zone governments put into action.
The public spotlight on Goldman Sachs is making things uncomfortable for the secretive bank's wealth managers and may crack open the door for rivals looking to lure business away.
Bailed-out insurance giant American International Group has slashed its exposure to credit derivatives by nearly two-thirds under government ownership, but a full recovery for taxpayers remains uncertain, a senior U.S. Treasury official said on Wednesday.
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