IBT Staff Reporter

Retailer Sears Holdings Corp posted a lower quarterly profit on Thursday as sales fell and it took charges for store closures. The company controlled by hedge fund manager Edward Lampert reported net income of $190 million, or $1.55 a diluted share, for the fourth quarter ended on January 31, compared with $426 million, or $3.17 a share, a year earlier. The results included charges ...

Oil rose to $43 a barrel on Thursday after the United Arab Emirates announced deeper cuts in crude supply to Asia for April in a possible signal that OPEC will cut output further at its next meeting in March. Abu Dhabi National Oil Co , the main oil supplier in the UAE, said it will sell customers less of its flagship Murban crude oil and three other main grades in April than in March. The move ca...

Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a source close to the matter.

whether Obama's package is able to put a floor to the slide in the broader economy.

whether Obama's package is able to put a floor to the slide in the broader economy.

Deutsche Post said it was still in talks over a possible cooperation with United Parcel Service , providing a sought-for update on its drawn-out negotiations. But a tie-up with other providers was also a viable option, Europe's biggest mail and express delivery company said in presentation slides on Thursday. In 2008, Deutsche Post and UPS agreed to cooperate on air ...

Asian stocks edged lower on Thursday after an early rally fizzled and investors found few incentives to make long-term bets with economic and corporate profit prospects worsening.

U.S. banking regulators are not pursuing nationalization of troubled institutions struggling to shed toxic assets from their balance sheets, the chairman of the Federal Deposit Insurance Corp said on Wednesday. Nationalization means different things for different people but nationalization is not the route we're pursuing now, FDIC Chairman Sheila Bair told reporters after speaking to a group ...

U.S. banking regulators are not pursuing nationalization of troubled institutions struggling to shed toxic assets from their balance sheets, the chairman of the Federal Deposit Insurance Corp said on Wednesday.

Asian stocks edged up on Thursday as investors bet government stress tests of U.S. banks will bring the ailing industry closer to a fix, while the dollar extended its rally against the yen. Mounting economic damage and prolonged political uncertainty in Japan have tarnished the yen's safe haven reputation, sending investors back into the dollar despite America's own economic troubles. An upw...

whether Obama's package is able to put a floor to the slide in the broader economy.

American International Group and U.S. authorities are in advanced discussions over a radical restructuring that would split the insurer into at least three government-controlled divisions in an attempt to keep it afloat, the Financial Times reported on its website, citing people close to the situation.

Bank of America is looking to sell a private bank it inherited from Merrill Lynch & Co, a banker familiar with the situation said on Wednesday.

Citigroup Inc is closing in on an agreement to boost the U.S. government's stake in it to as much as 40 percent, the Wall Street Journal reported on its website, citing people familiar with the situation.

Recently, Flaws were discovered in version 10.0.12.36 of Adobe Systems Inc. flash Player that could enable an attacker to take control of an affected system or execute arbitrary code.

US Treasuries fell in Wednesday's session, after the results of the government's sale of $32 billion of five year notes, the debt instruments considered to be on the long end of the recession /recovery curve

On January 9, Microsoft had previously released a patch via Windows comprehensive update for Internet Explorer 8 for the beta operating systems that aimed at plugging numerous compatibility and reliability holes in Internet Explorer 8.

Bank of America is looking to sell a private bank it inherited from Merrill Lynch & Co. as the bank tries to preserve capital and possibly shed noncore assets, said a report on the Wall Street Journal's Web site, citing people familiar with the situation.

Fashion sales fell victim to consumer cutbacks during the holidays and no respite is in sight this year, but upscale store chain Saks Inc and off-price retailer TJX Cos Inc signaled to investors they were working hard to weather the storm.

On Wednesday at Apple Inc. annual shareholder meeting, an Apple director responded to an investor saying that co-founder and CEO, Steve Jobs is still expected to return from his medical leave at the end of June, the Associated Press reported.

Two money managers who oversaw investments for Carnegie Mellon University and other institutions were arrested on Wednesday on charges of running an estimated $550 million, decade-long swindle, the latest in a wave of big financial fraud cases.

Surrounded by wreckage and many destroyed buildings and infrastructure, Palestinians are now seeking to rebuild the destroyed territory and seeking roughly $2.8 billion in foreign aid.

President Barack Obama called on Wednesday for a sweeping overhaul of Wall Street regulations, saying big changes were needed to avoid a repeat of the financial meltdown.

although that part of the law is seen as something of a gray area. (Editing by Edwin Chan, editing by Gerald E. McCormick, Bernard Orr)

Major companies in the oil industry pushed the U.S. Congress Wednesday for the permanently lifting of a moratoria that blocks them from drilling offshore and reach tremendous amounts of oil and gas resources.

On Wednesday the UN-backed Sierra Leone war crimes court convicted three former rebel leaders of crimes against humanity and war crimes committed during one of the most brutal civil wars in modern history.

U.S. Internet firm Yahoo Inc is not opposed to doing a deal that would potentially sell its search business, Chief Financial Officer Blake Jorgensen said on Wednesday

General Motors Corp saw its fourth-quarter sales drop 26 percent and ended the year desperately short of cash and dependent on a $13.4-billion government lifeline to remain in business. So when the automaker reports fourth-quarter financial results on Wednesday, investors will be looking beyond the bad news for an update on its survival plan. The key to valuing GM's shares and debt i...

U.S. banking regulators on Wednesday launched a stress test program to assess the largest banks' ability cope with the possibility of a deeper recession in which the unemployment rate climbs above 10 percent next year.