Greenback Slides on Shift to Risk
Markets stabilized further in the Tuesday session with the dollar sliding against the majors, while global equity bourses rallied and spot gold surged to a new record high above the $1,200 per ounce level. Tokyo's Nikkei index climbed by over 2.4% on Tuesday while Germany's DAX index rallied by nearly 2.7% and the Dow Jones improved by more than 1.5% by afternoon trading. Philadelphia Fed President Plosser delivered an optimistic assessment on the economy earlier, expressing his confidence that...
Stocks jumps as housing data, dollar help
U.S. stocks climbed on Tuesday as a weak dollar boosted natural resource companies' shares and housing data reassured investors about the recovery.
GM November sales down 2 percent
General Motors Co said on Monday it delivered 151,427 vehicles in the United States in November.
Fed's Plosser: Timely withdrawal of stimulus crucial
The Federal Reserve must be prepared to raise interest rates if necessary before the jobless rate has fallen to acceptable levels, or risk losing its inflation-fighting credibility, a senior Fed official said on Tuesday.
GM sales fall 2.2 percent in November
General Motors Co posted a 2.2 percent drop in U.S. sales in November from a year earlier, weighed down by brands it plans to divest or close, and said it would raise production in North America by about 75 percent in the first quarter.
November sales to shed light on holiday start
When U.S. retail chains report November sales this week, investors will learn whether they have gone far enough to protect profits against a weak start to the holiday shopping season.
Manufacturing and construction point to muted US growth
Data released on Monday suggested that the US is weaning out of its worst recession since the Great Depression, though the speed of that growth remains suppressed.
EPA delays action on more ethanol in gasoline
Newer American cars will likely be able to handle higher ethanol blends in their gasoline but the decision to approve an industry request to change the fuel mix will have to await final testing next year, the U.S. Environmental Protection Agency said on Tuesday.
Knight Capital Group opens emissions trading desk
U.S.-based liquidity provider Knight Capital Group has opened an emissions trading desk, with Daniel G. Braun appointed head of carbon trading, the company said on Tuesday.
Coal concerns lead US climate bill challenges
For anyone trying to understand why the United States is having such a hard time joining an international effort to combat global warming, a short drive west from Washington to one of the smaller states in the country might explain a lot.
Microsoft, News Corp reports overplayed: source
Reports that News Corp and Microsoft were in talks for an exclusive deal that would exclude Google are overblown, a source close to the situation said on Tuesday.
Northrop links to academics to boost cyber defense
Northrop Grumman Corp unveiled Tuesday an industry-academic research group to tackle growing cyber threats to U.S. computer networks and to networked infrastructure.
Nick Jonas solo tour dates announced
The tour -which starts January 2, 2010 in Dallas - will feature the songs from Nick Jonas & The Administration's Who I Am album due out on February 2. Their first single is schedule for release tomorrow.
EU carbon futures rise as oil firms
The benchmark contract for European Union carbon emissions futures rose two percent on Tuesday after a fairly steady morning's trade as oil prices firmed, traders said.
Germans miss out on cheaper electricity
Millions of Germans will pay more for their electricity despite sharply lower fuel prices, footing the bill for utilities' losses, renewable energy and higher transmission grid charges.
Nick Jonas kicks off solo tour; Not end of Jonas Brothers
Nick Jonas, the younger member of pop teen trio Jonas Brothers announced he will kick off a solo tour in 14 cities in the U.S. early next year.
Geely taps China banks to back $1.8 billion Volvo deal
Geely, the Chinese carmaker picked as the preferred bidder for Ford Motor's Volvo unit, is seeking at least $1 billion in loans from Chinese banks to finance its $1.8 billion bid, sources said on Tuesday.
Dubai ruler plays up strength as Gulf markets fall
Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.
Mexico's competition watchdog fines Televisa
Mexico's antitrust watchdog is fining media giant Televisa almost $4 million for refusing to let a cable operator transmit its channels, the latest in a push to boost competition in the sector.
How to fix 'Black screen of death' on Micrososft Windows
Microsoft users claimed on Tuesday that they have been left with a black screen of death after running a Microsoft security update on their computers, according to reports. Microsoft has not yet released an official statement as to the cause of the Black Screen of Death, which results in a totally black screen, only saying it is investigating the issue.
CORRECTED: Dubai ruler plays up strength as Gulf markets fall
Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.
Suicide bomber kills Pakistan parliamentarian
A teenage suicide bomber killed an anti-Taliban provincial lawmaker in northwest Pakistan on Tuesday after walking into the official's house along with guests and blowing himself up.
Barclays gets extra boost from $15.2 bln BGI deal
Barclays completed the sale of its asset management arm to U.S. fund manager BlackRock on Tuesday for $15.2 billion, or $1.7 billion more than when it struck the deal in June after a jump in BlackRock's share price.
Heliocentris sees higher sales in 2010 vs 2009: CFO
Heliocentris Fuel Cells, a German expert for clean energy storage, sees higher sales next year as it hopes to benefit from support programmes around the world, its chief financial officer told Reuters.
Housing data and weaker dollar lift markets
Stocks gained on Tuesday as a weak dollar lifted commodity prices and home sales data reassured investors about the state of the housing market, considered one of the biggest drags on a recovery.
Senators urge renegotiation of U.S. trade deals
A group of U.S. senators urged President Barack Obama Monday to back legislation requiring the renegotiation of the North American Free Trade Agreement and a long list of other trade pacts they blame for millions of lost U.S. manufacturing jobs.
Solar company Trina signs China market deal
Chinese solar company Trina Solar Ltd said on Tuesday it entered into a sales agreement to supply approximately 8 megawatts of photovoltaic (PV) modules to the Chinese domestic market.
House will permanently fix estate tax: Hoyer
U.S. House Democratic Leader Steny Hoyer said the chamber will vote this week to permanently extend the estate tax rates scheduled to expire at the end of 2009.
Cutting jobless will take time: Summers
President Barack Obama's top economic adviser said on Monday that tackling high U.S. unemployment was vital but the problem would take time to fix.
Senate opens work on healthcare bill
The U.S. Senate began work on a sweeping healthcare overhaul on Monday, with senators on both sides pouncing on findings in a nonpartisan budget report on insurance premiums to bolster their arguments.
