U.S. consumer prices rise, calm deflation fears
U.S. Consumer prices rose in January for the first time in six months as energy costs rebounded, government data showed on Friday, easing fears of deflation amid a severe economic downturn.
The Labor Department said its closely-watched consumer price index rose 0.3 percent after dropping 0.8 percent in December. The modest uptick followed months of aggressive discounting by retailers seeking to s...
GM's Saab wins creditor protection, seeks savior
is one of Sweden's best-known brands.
However, it said it needed a rapid restructuring in order to address the level of near-term losses and new funding from either private or public sources to launch more competitive models, and that it had to find a new partner.
Surrounded by new and vintage Saabs in the company's museum showcasing its six decades of car making, Chief Executive Jan-Ake Jons...
Iran understates uranium stocks to IAEA: diplomats
Iran recently understated by a third how much uranium it had enriched and U.N. nuclear inspectors are working with Tehran to ensure such a significant gap does not recur, diplomats said Friday.
Electric Cars Not Yet Free of CO2 Emissions
Electric cars emit gases indirectly if they use widely available power from fossil fuel electric plants which burn coal, natural gas and petroleum and release greenhouse gases including carbon dioxide.
TREASURIES-Bonds gain on bank nationalization fears
U.S. Treasury debt prices gained on Friday as deepening anxiety about the fragile state of the banking system pummelled financial stocks, sending investors scrambling into comparatively safe government debt.
Bank uncertainty knocks Wall Street
U.S. stocks fell on Friday, pinning the Dow to levels not seen for more than six years, as investors worried that a financial sector rescue might involve nationalization of major banks, wiping out shareholders.
The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose briefly above $1,000 an ounce.
Shares of Bank of America fell...
A push for Universal Greener Mobile Charger
In an event in Barcelona, Spain, a total of 1300 exhibitors registered in GSMA (Groupe Speciale Mobile Association) Mobile World Congress are gathered to showcase their newest technology and innovative mobile phones.
J.C. Penney profit tops view; sees Q1 loss
Department store operator J.C. Penney Co Inc posted a 51 percent drop in fourth quarter profit on Friday, and said its loss in the current quarter would be deeper than Wall Street estimates as shoppers hold off on spending.
The most recent quarter's results were better than analysts expected, helped by efforts to cut inventory and expenses amid the weakest holiday shopping season i...
Bank uncertainty knocks Wall Street; Citi hammered
U.S. stocks fell on Friday, pinning the Dow to levels not seen for more than six years, as investors worried that a financial sector rescue might involve nationalization of major banks, wiping out shareholders.
The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose briefly above $1,000 an ounce.
Shares of Bank of America fell...
Stanford's whereabouts: again a mystery
The whereabouts of embattled Texas financier Allen Stanford were a mystery again Friday after the FBI served him a formal complaint in this historic hub noted for ghost stories.
Television crews maintained a vigil outside the family home of a woman reputed to be a girlfriend of Stanford, but there were no signs that he was at the house overnight. Lights were out from early evening.
The modest, t...
Disney buys kids website Kerpoof
The Walt Disney Company has paid an undisclosed amount for Kerpoof Studios, a creator of online tools that kids can use to make artwork, write stories and create short movies.
Gold futures rise $1,000 on flight to safety
they are sidelining the dollar strength, sidelining deflationary concerns and lower oil prices. They are very much buying gold as a safe-haven asset, Cooper said. There is potential for us to breach the $1,000 level.
Saxo Bank senior manager Ole Hansen said the deteriorating macroeconomic picture and inflows into exchange-traded funds were currently the main influences on the gold price, n...
Citi to sell $1.3 billion Brazil Redecard stake: source
Citigroup Inc plans to sell its 17 percent stake in Brazilian credit card company Redecard, sources with direct knowledge of the plans said on Friday, potentially raising 3.05 billion reais ($1.27 billion) for the struggling U.S. banking giant.
Anglo to cut 19,000 jobs, shares tumble
Mining group Anglo American Plc (AAL.L) (AGLJ.J) scrapped its 2008 final dividend on Friday to conserve cash and said it will cut 19,000 jobs as it posted a 1 percent fall in profit, missing analysts' forecasts.
Netanyahu asked to form Israel's next government
Right-wing leader Benjamin Netanyahu on Friday accepted a mandate to form Israel's next government and immediately called for a broad, national unity coalition with centrist and left-wing partners.
BofA, Citi shares fall on nationalization fears
Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.
Bank worries sink Wall Street; Citi plunges
U.S. stocks tumbled on Friday, depressing the Dow to levels last seen more than six years ago as investors worried a financial sector rescue might involve nationalization of major banks, wiping out shareholders.
The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose above $1,000 an ounce.
Shares of Bank of America tumbled mor...
Bank worries trip Wall St at open
U.S. stocks dropped at Friday's opening, extending a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated.
* Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stocks plummeted in...
Shares of BofA, Citi fall on nationalization fears
Shares of Bank of America Corp and Citigroup Inc plummeted for the sixth straight day on Friday, hammered by increasing fears that the U.S. government could take the control of the banks, wiping out shareholders.
Bank of America shares were down 6.6 percent to $3.66 in premarket trading, their lowest level since 1984, while Citigroup fell 12.3 percent to $2.20, their lowest price since 1991. The ...
Bank worries set to trip Wall Street at open
U.S. stocks headed for a drop at Friday's opening that would extend a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated.
Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stoc...
U.S. consumer prices rise in January on energy
U.S. consumer prices rose in January as energy costs rebounded, government data showed on Friday, temporarily easing fears of deflation amid a severe economic downturn.
The Labor Department said its closely watched Consumer Price Index rose 0.3 percent, advancing for the first time since July, after falling 0.8 percent in December. The increase was bang in line with market expectations.
U.S. sto...
J.C. Penney profit tops view; quarterly loss seen
Department store operator J.C. Penney Co Inc posted a higher-than-expected profit on Friday, but said its loss in the current quarter would be deeper than Wall Street estimates as shoppers hold off on spending.
Penney's performance in its fourth quarter, which ended on January 31, benefited from the company's efforts to cut inventory and expenses during the weakest holiday shoppin...
U.S. consumer prices rise 0.3 pct in January
U.S. consumer prices rose in January, advancing for the first time since July as energy costs rebounded, government data showed on Friday, but a severe economic downturn was likely to keep inflation pressures muted in the months ahead.
The Labor Department said its closely watched Consumer Price Index rose 0.3 percent after falling 0.8 percent in December. Analysts polled by Reuters had forecast ...
U.S. consumer prices rise 0.3 percent in January
U.S. consumer prices rose in January, advancing for the first time since July as energy costs rebounded, government data showed on Friday, but a severe economic downturn was likely to keep inflation pressures muted in the months ahead.
The Labor Department said its closely watched Consumer Price Index rose 0.3 percent after falling 0.8 percent in December. Analysts polled by Reuters had forecast ...
Obama reassures Canada on open trade
President Barack Obama on Thursday assured Canada, his country's biggest trading partner, that he would not pursue protectionist policies, and the two neighbors agreed to cooperate on cleaner energy technology.
U.S. stance on OPEC oil cut unclear: Energy Sec. Chu
U.S. Energy Secretary Steven Chu on Thursday could not say whether the Obama administration was against another oil output cut by OPEC when the producer group meets on March 15, and that he would have to find out the administration's position.
J.C. Penney profit tops view; forecasts Q1 loss
Department store operator J.C. Penney Co Inc posted a better-than-expected quarterly profit on Friday, helped by steps to cut inventory and expenses during the weakest holiday shopping season in decades.
Its net profit fell 51 percent to $211 million, or 95 cents per share, from $430 million, or $1.93 per share, a year ago.
Earnings were 94 cents per share from continuing operation...
Swiss bank shares tumble as UBS tax probe widens
making the Alpine state the world's biggest offshore center.
Tax-dodging schemes are increasingly under attack by governments scrambling to find revenue needed to finance the soaring costs of government stimulus programs.
John Christensen, director of the Tax Justice Network which campaigns against bank secrecy, said he also saw a dramatic shift in public opinion against tax havens.
It is c...
Futures signal more Wall Street pain on bank woes
U.S. stock index futures fell on Friday, putting Wall Street on track to extend a rout that has pulled the Dow Jones industrials to a fresh bear-market low as worries about the fate of major banks mount.
Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of government bonds, with s...
Electric cars' emissions problem at times more than hybrids
Electric cars emit gases indirectly if they use widely available power from fossil fuel electric plants which burn coal, natural gas and petroleum and release greenhouse gases including carbon dioxide.
