Fund sues banks for $1.2 billion loss tied to subprime
A hedge fund is taking aim at the world's biggest banks in an effort to recoup $1.2 billion it lost on subprime mortgages, entering a legal fight where so far Wall Street has largely been unscathed.
Alcoa posts profit, beats Wall Street estimates
Alcoa Inc , the largest U.S. aluminum producer, posted a stronger-than-expected second-quarter profit on Monday and raised its estimate for global aluminum consumption, sending its shares up 3 percent.
CSX profit jumps 36 percent, beats view
U.S. railroad CSX Corp said on Monday that its profit rose 36 percent in the second quarter, beating analysts' expectations, as volume improved across the varied markets the company serves.
U.S. issues new drilling ban
The Obama administration issued a new moratorium on deepwater oil drilling on Monday, a move the industry said was unnecessary and would place tens of thousands of jobs at risk.
Corrected: Bernanke says spurring credit key to rebound
(Corrects 4th paragraph to delete that Fed Governor Elizabeth Duke and Jeffrey Lacker spoke at the same conference; they spoke at different events)
Alcoa posts profit as sales rise 22 percent
Alcoa Inc , the largest U.S. aluminum producer, posted a second-quarter profit on Monday, as sales rose 22 percent despite a recent drop in aluminum prices.
CORRECTED: Alcoa posts profit as sales rise 22 percent
(Corrects headline, first paragraph to show sales rose 22 percent, not 18 percent)
Morgan Stanley private equity co-head to resign
Steve Trevor is resigning as co-head of Morgan Stanley's private equity division, the latest change as the Wall Street firm overhauls its investment management unit.
U.S. government issues new offshore oil drilling ban
The U.S. Interior Department on Monday formally issued its new offshore oil drilling moratorium, saying it would end by November 30 or sooner and it would no longer be based on water depths.
Citigroup loses bid to dismiss big bondholder suit
A Manhattan federal judge on Monday rejected Citigroup Inc's bid to dismiss a class-action lawsuit by bondholders who said the bank misled them about its exposure to toxic mortgages.
Wall Street ekes out gain as caution rules before results
Caution prevailed in the U.S. stock market on Monday, with indexes edging higher as investors kept bets to a minimum in front of earnings.
Playboy bidding war looms
A bidding war for the bunny may be about to break out.
U.S. Interior Dept issues new offshore drilling ban
The U.S. Interior Department on Monday formally issued its new drilling moratorium, saying it would end by November 30 or sooner and it would no longer be based on water depths.
Euro EFSF seen ready in July, Slovaks to discuss Wednesday
The euro zone's emergency loan facility should be operational this month, finance ministers said on Monday, expressing hope Slovakia would cease to block the activation of the 440 billion euro ($554 billion) fund.
Warning out on use of Chinese weight loss supplement
The U.S. Food and Drug Administration (FDA) has issued a public warning on the use of the weight loss herbal supplement Que She.
Diabetes drug linked to heart problem
Two recent studies linking the diabetes drug Avandia to heart ailments prompted the U.S. Food and Drug Administration (FDA) to consider withdrawing it from the market.
Playboy bidding war looms; shares rise
A bidding war for the bunny may be about to break out.
Wall Street edges up as caution prevails before earnings
Caution ruled in the U.S. stock market on Monday, with indexes edging higher as investors kept bets to a minimum in front of earnings.
Campbell to launch new V8 drinks
Campbell Soup Co is introducing new V8 juice drinks and other products to boost sales in the United States.
U.S. to issue new drilling ban
The Obama administration prepared a new moratorium on deepwater oil drilling on Monday, seeking to make the industry safer while protecting thousands of jobs during the worst spill in U.S. history.
Consumer Reports will not recommend Apple iPhone 4
Consumer Reports said it cannot recommend Apple's iPhone 4 to buyers after tests confirmed the device's well-publicized reception glitches.
EU plans to toughen investor protection
Account holders in the European Union who are faced with a run on their bank would get their money back within a week under a draft EU law published on Monday to protect consumers in the wake of the global crisis.
BP in talks to sell assets, new drill ban pending
BP Plc is in talks with U.S. energy company Apache Corp and others to sell assets worth up to $10 billion as it grapples with the cost of the worst oil spill in U.S. history.
FDIC grows backup role at large, risky banks
U.S. bank regulators would have more power to examine the largest and riskiest institutions, under a new interagency memorandum approved on Monday.
ECB slows controversial bond buying to near halt
The European Central Bank slowed the pace of its controversial buying of government bonds to a near halt last week, adding substance to suggestions from one of its top policymakers that the programme could soon be phased out.
UK recession worse, Q1 growth relied on government spending
Britain's recession was deeper than previously thought, new data showed on Monday, while a top central banker warned that euro zone weakness and looming government spending cuts could send the recovery into reverse.
Al Qaeda targets American recruits with English magazine
An Al Qaeda magazine posted online with articles such as make a bomb in the kitchen of your mom is a bid to recruit Americans to launch attacks in the United States, a senior U.S. lawmaker said on Monday.
Wall Street flat, caution prevails before earnings
Stocks were little changed on Monday as China's weakening demand for materials weighed on resource shares and as the imminent start of earnings season pushed investors to the sidelines.
Wall Street flat as caution prevails before earnings
Stocks were little changed on Monday as China's weakening demand for materials weighed on resource shares and as the imminent start of earnings season pushed investors to the sidelines.
Wall Street sags as global concerns wipe out early gains
Stocks slipped on Monday, erasing earlier gains as China's weakening demand for materials and concerns over Europe's fiscal issues weighed on sentiment.
