MARKETS / FINANCE

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Senate launches debate on Wall Street bill

The Senate opened debate on Wall Street reform on Thursday with an amendment to bar use of taxpayer funds in any future government actions to dismantle financial mega-firms that get into trouble.

Wall Street rallies on earnings, Greece aid hopes

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U.S. stocks chalked up their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports, while Greece appeared close to a bailout deal, easing fears about a wider sovereign debt crisis.

Goldman, other banks to face munis case

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Goldman Sachs & Co, Citigroup Inc and other high-profile banks must defend against allegations by 15 California cities and counties that they conspired to rig bids for municipal investment contracts and derivatives, a U.S. judge ruled.
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Wall Street jumps on earnings, Greece aid

U.S. stocks rose on Thursday as investors welcomed a string of solid earnings reports, while debt-laden Greece appeared to be nearing a bailout deal, easing fears about the stability of the euro zone.
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Goldman set to settle SEC fraud case soon: report

Goldman Sachs may soon settle its fraud case with the U.S. regulator, the New York Post reported on Thursday, opting to end a legal fight rather than endure a repeat of the public flogging it received this week.
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Jobless claims fall, slow recovery seen

The number of U.S. workers submitting new claims for unemployment benefits fell slightly last week, implying only a gradual labor market improvement even as the economic recovery broadens out.
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Motorola smartphone sales rise

Motorola Inc reported a surprising quarterly profit on better-than-expected demand for its higher-margin smartphones, vindicating its strategy of relying on Google Inc's Android software system.
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A job in video games might not be a virtual dream

If your dream job is to work in the video game industry then the future is looking brighter with industry players seeing a pick-up in the number of jobs becoming available although salaries remain flat.
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Greece readies austerity measures, markets steady

Greece readied severe austerity measures Thursday to secure a multi-billion euro aid package needed to avoid default, providing relief to financial markets but drawing threats of a mighty battle from Greek unions.
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Lehman case backs accounting convergence

The use by Lehman Brothers bank of a U.S. accounting device to strengthen its balance sheet would not have worked under global accounting rules, a top industry official told the Reuters Global Financial Regulation Summit on Thursday.
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Foreclosures fall in most of top metro areas

Foreclosure activity fell in 14 of the top 20 U.S. metropolitan areas in the first quarter compared with a year earlier, even though total U.S. foreclosures rose, RealtyTrac said on Thursday.
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Stand out by projecting your personality

The challenge: She had created a functional résumé, presenting her experience in an Accomplishments section and leaving her work history to fall to the end of her résumé.
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Jobless claims underscore fragile labor market

The number of U.S. workers filing new applications for unemployment insurance fell slightly less than expected last week, government data showed on Thursday, implying only a gradual labor market improvement.
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U.S. jobless claims fall 11,000 last week

The number of U.S. workers filing new applications for unemployment insurance fell slightly less than expected last week, government data showed on Thursday, implying only a gradual labor market improvement.
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Greece readies new austerity measures

Greece readied severe austerity measures on Thursday to secure multi-billion dollar aid, providing relief to financial markets but drawing threats of a mighty battle from Greek unions.
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Investors pile back into stocks, shed bonds

U.S. fund managers increased their already high exposure to equities in April and decreased bond allocations on signs the economic recovery is sustainable, a Reuters poll showed on Thursday.
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ECB's Weber urges swift Greek aid to prevent contagion

ECB Governing Council member Axel Weber said on Thursday the impact of any Greek debt default on other states would be incalculable and urged quick approval of an aid package to prevent market upheaval and contagion to other states.
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Prudential gets Korea anti-trust nod for AIA deal: FTC

Prudential Plc has secured South Korean anti-trust approval for its planned $35.5 billion takeover of American International Group Inc's Asian life insurance business, a Korean Fair Trade Commission official told Reuters on Thursday.
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Stock futures higher after Fed, Visa earnings

U.S. stock index futures rose on Thursday, looking to add to gains in the previous session after the Federal Reserve pledged to keep rates low for an extended period and Visa reported strong quarterly results.
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US may rake in army to tackle oil leak crisis

The US National Oceanic and Atmospheric Administration has today declared that the oil spill in the Gulf of Mexico is heavily leaking crude oil roughly 5000 feet below the surface. The agency maintained that the oil is leaking at the rate of 5000 barrels per day and not 1000 bpd as had been estimated earlier. Speaking to media, Rear Admiral Mary E Landry of the Coast Guard informed that the new estimate came from observations made in flights over the slick, studying the trajectory of the spill a...
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Gold prices mixed in Asian trade

Gold prices remained mixed in Asian trade Thursday after Greek debt worries was countered by hopes of speedy recovery in US economy. Gold for immediate delivery was seen trading at $1165.10 an ounce at 12.00 noon Singapore time after a notional close of $1,164.45 on Wednesday. However US gold futures for June delivery dropped in early trade and was at $1166 an ounce at the same time.
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Wall Street futures signal gains, earnings in focus

Stock futures pointed to a stronger start for Wall Street on Thursday, adding to gains in the previous session after a pledge by the Federal Reserve to keep rates low, with investors expected to focus on further corporate earnings.
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Euro steady, Greek yields ease on bailout hope

Greece's borrowing costs fell on Thursday and the euro was off its one-year low on optimism that a bailout plan for Athens would be finalized soon, though Spain's risk premium rose after S&P's debt rating downgrade.
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Euro edges up, stocks waver on Greek concerns

The euro inched higher on Thursday from a one-year low the previous day as senior European officials gave assurances that they were serious about helping Greece find a way out of its escalating debt crisis.

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