BP's Continued Existence Seen Coming Under Threat as Gulf Oil Spill Continues
The continued failure of BP's efforts to stop the Gulf oil spill and mounting political pressure are putting the very future of the British-based oil giant in question. BP shares plunged again on Tuesday, wiping $17 billion off the market capitalization of the company. Premiums on credit default swaps to insure the company's debt soared 75% to $178,000 for $10 million as analysts began to question whether the company can survive the financial and reputational costs of the Deepwater Horizon catas...
AgBank IPO draft forecasts '10 net profit up 28 percent
Agricultural Bank of China , preparing for the world's largest-ever IPO, unveiled key financial figures on Friday, detailing plans to issue up to 47.6 billion new shares and forecasting a sharp rise in yearly net profit.
Opel gets more time to lobby Germany on aid
The German government has delayed a vote which was expected to rule out federal aid for General Motors' European unit Opel, giving Opel's supporters a few more days to lobby Berlin to change its mind.
GM and Chrysler real chance for growth: Obama adviser
General Motors and Chrysler are reasonably positioned for growth after U.S. intervention saved the companies last year, and government support for the auto sector will begin to be pulled back, the manufacturing adviser to the president said on Thursday.
Honda to resume China car production on Friday
Honda Motor Co said it will resume car output at four plants in China on Friday but the outlook for next week remains uncertain as some workers at a parts factory have not yet agreed to a full return to work.
Carmakers, suppliers in electric car power struggle
Electric cars offer a chance to develop lucrative new technologies, and suppliers would benefit from grabbing more of this work -- but they will have to fight carmakers keen to hold on to control of future profits.
Corrected: J&J sees fast-growing device market
In third to last paragraph, corrects that Schering-Plough, not J&J, hired Hassan in 2003
Tesla says not affected by CEO's divorce dispute
Electric carmaker Tesla Motors said on Wednesday it does not expect the contentious divorce of its chief executive, Elon Musk, to affect its plans to list its shares and does not rely on him to provide further funding.
Lehman plans contemporary art sale at Sotheby's
Bankrupt financial group Lehman Brothers Holdings Inc plans to sell about 450 works by contemporary artists including Robert Rauschenberg at an auction in September, according to court documents.
Market falls on jobs data and European worries
U.S. stocks fell 2 percent on Friday as a disappointing May payrolls report and another possible debt crisis, this time in Hungary, intensified fears about the stability of the economic recovery.
At Wal-Mart meeting, flash mixes with cash
Thousands of Wal-Mart Stores Inc employees gathered in a basketball arena in Arkansas on Friday, looking for big-name entertainment and pep-rally motivation, while shareholders were looking for more cash.
Wal-Mart sets new $15 billion repurchase plan
Wal-Mart Stores Inc announced a new $15 billion share repurchase plan at its annual meeting on Friday, as shareholders look for greater returns from the world's largest retailer.
Private hiring weak
U.S. private employers hired fewer workers than expected in May, a setback for the labor market recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.
Payrolls rise on Census but private hiring weak
Private employers hired fewer workers than expected in May, a setback for the labor market recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.
Instant View: May payrolls short of expectations
U.S. nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply, disappointing investors looking for a stronger figure.
Chile raises 2010 copper view to $3.20 a lb
Chile's state copper think tank Cochilco said Friday it raised its forecast for copper prices to $3.20 per lb in 2010 despite the ongoing market volatility stemming from Europe's debt woes. Cochilco, which helps set price views for the world's top copper miner Codelco [CODEL.UL], said it also raised its 2011 average copper price forecast to $3.30 from $3.20.
Nonfarm payrolls hit 10-year high on Census
Nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply as businesses opted to increase hours rather than hire new workers.
Payrolls hit 10-year high on Census
Nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply as businesses opted to increase hours rather than hire new workers.
Markets tumble on weak jobs data
Stocks fell sharply on Friday after the May payrolls report showed private hiring was much lower than expected, raising fears about the strength of the economic recovery.
Census hiring to boost payrolls in May
Nonfarm payrolls likely rose at their fastest pace in nearly 27 years in May as the government ramped up hiring for the census and businesses grew more optimistic about the economy, a Reuters survey showed.
Corrected: Census hiring to boost payrolls in May
Corrects number of private jobs created in April in 5th paragrap
Extra mutations help flu evade drug
Two extra mutations set the stage for the seasonal influenza virus to evolve into a form that now resists three of the four drugs designed to fight it, researchers reported on Thursday.
Deficit panel eyes another bite at healthcare
Concern over rising U.S. debt could force lawmakers to take another crack at reining in healthcare costs long before any promised savings from President Barack Obama's sweeping overhaul are realized.
Markets to open sharply lower after payrolls data
Stock index futures were sharply lower on Friday, with the S&P 500 and Nasdaq set to drop more than 2 percent at the open, after the May payrolls report showed private hiring slowed sharply.
Prudential seeks business as usual, investor fury eases
Prudential will try to draw a line under its botched Asian takeover at an investor meeting on Monday amid signs that investor fury over the deal is abating.
Stock futures fall on Europe fears, ahead of jobs data
Stock index futures fell on Friday, tracking European equities and the euro as investor worries intensified over the sovereign debt crisis in the region.
Increasingly hawkish Fed ponders raising rates
Three top Federal Reserve officials said on Thursday it may soon be time to begin raising interest rates as the economic recovery in the United States gathers momentum, despite persistently high unemployment.
Stock futures fall ahead of jobs data
Stock index futures fell on Friday, tracking European equities and the euro lower, as investors looked ahead to the May non-farm payrolls report that could signal the pace of an economic recovery.
G20 policymakers go public with fears for economy
Leading policymakers were unusually candid on Friday in voicing fears that the euro zone's financial and banking woes could derail the global economic recovery.
Investors eye detail as AgBank heads for record IPO
Investors will scour a preliminary prospectus for Agricultural Bank of China's around $30 billion IPO, the world's largest, for updates on its book value and bad loans.
