Marathon Petro Buys BP Texas City Refinery For $2.5B
Marathon Petroleum Corp (MPC.N) struck a deal to buy BP Plc's (BP.L) Texas City refinery and related infrastructure for up to $2.5 billion, a purchase that will make Marathon the fourth-largest U.S. refiner and give it a bigger potential slice of the market for refined product exports.
UK, Japan Scientists Win Nobel Prize For Stem Cell Breakthroughs
Scientists from Britain and Japan shared a Nobel Prize on Monday for the discovery that adult cells can be transformed back into embryo-like stem cells that may one day regrow tissue in damaged brains, hearts or other organs.
2012 Presidential Election: It’s Still ‘Advantage Obama’
The 2012 U.S. presidential race roughly one month before Election Day remains where it was on Memorial Day: advantage Obama.
Remembering Steve Jobs (1955-2011)
Apple co-founder Steve Jobs' inventions have shaped how we live, work, and play. He may have been the greatest inventor of the Information Age.
Obama Lead Over Romney Slips To 2 Pts: Poll
President Barack Obama's lead over Republican challenger Mitt Romney has narrowed to just 2 percentage points since Romney's strong performance in their first debate, a new poll indicated.
Merkel To Visit Greece For First Time Since Start Of Financial Crisis
German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis erupted, in a show of support for Athens after it said it will run out of money at the end of November without fresh international aid.
Lehman Brokerage, Europe Unit, Settle $38B In Claims
The U.S. brokerage unit and a European unit of the former Lehman Brothers Holdings Inc. said they settled a dispute over $38 billion in claims over client and creditor assets, a major step toward allowing customers and creditors to recover money.
Fed's Bernanke Rigorously Defends QE3
U.S. Federal Reserve Chairman Ben Bernanke Monday robustly defended the bank's unconventional program to stimulate the U.S. economy, quantitative easing.
Russia Bans Controversial Anti-Islam Video
A Russian court paved the way for a potential closure of video-sharing website YouTube by banning an anti-Islam video on Monday that sparked violent protests across the Muslim world.
US Consumer Sentiment Rises To 4-Month High In September
U.S. consumer sentiment rose to its highest level in four months in September as Americans saw better prospects for the job market and economy, a survey released on Friday showed.
Bank Of America Settles Shareholder Suit For $2.43B
Bank of America (BAC.N) said it will pay $2.43 billion to settle a class action lawsuit with investors who held its securities at the time the company announced plans to acquire Merrill Lynch.
EU Wants $12B Annual Trade Sanction On US In Boeing Spat
The European Union asked the World Trade Organization on Thursday for the right to impose annual trade sanctions worth up to $12 billion on the United States in retaliation for illegal subsidies to plane maker Boeing (NYSE: BA.N).
Romney, Ryan Face Tough Road In Ohio
Facing a tough path to victory if they cannot win Ohio, Republicans Mitt Romney and Paul Ryan launched a two-day bus tour on Tuesday to try to boost their fortunes in a state that polls show could be slipping away from them.
US Mortgage Applications In Most Recent Week
Applications for U.S. home mortgages rose last week as interest rates dropped to record lows in the wake of the Federal Reserve's latest stimulus efforts, data from an industry group showed on Wednesday.
Lehman To Pay Creditors Another $10.5 Billion
Lehman Brothers Holdings Inc on Tuesday said it will pay about $10.5 billion to creditors starting early next month, the second leg of a plan to eventually pay out more than $65 billion.
US Home Prices Rose 0.4% In July - Less Than Expected: Case-Shiller
U.S. single-family home prices rose for a sixth month in a row in July, though the improvement was not as strong as expected, a closely watched survey showed on Tuesday.
Election 2012: Romney Losing Support Among Senior Citizens
Even before his running mate was booed by a lobbying group for older Americans on Friday, Republican presidential nominee Mitt Romney was losing support among such voters, whose backing is crucial to his hopes of winning the November 6 election.
GM Recalls 474,000 Cars For Gear Shift Problem
General Motors Co is recalling 473,841 Chevrolet, Pontiac and Saturn sedans globally to fix a condition that could cause the cars to roll over when the drivers think they are in park gear, the No. 1 U.S. automaker said on Friday.
Obama Solidifies Lead Over Romney, Post-Convention
President Barack Obama maintains a lead of 5 percentage points over Republican Mitt Romney as he solidifies his advantage in the U.S. presidential race, according to a Reuters/Ipsos poll released on Thursday.
US Jobless Claims Dip By 3,000 To 382,000 But Still High
The number of Americans filing new claims for jobless benefits fell by 3,000 to 382,000 last week, unwinding some of the weather-related spike during the previous week
Steve Sabol, Co-Creative Force Behind NFL Films, Dies At 69
Steve Sabol, who along with father Ed, revolutionized the promotion of sports with NFL Films, the marketing and filming operation of the National Football League, died Tuesday of cancer at age 69, the National Football League announced.
US Treasury Resists GM Plan For Government Stake Sale: WSJ
The U.S. Treasury Department is unwilling to sell the government's stake in General Motors Co because a sale now would mean huge investment losses, the Wall Street Journal reported on Monday, citing people close to the matter.
Occupy Wall Street Marks 1-Year Anniversary Monday With NYSE Protest
A few hundred Occupy Wall Street activists gathered in New York's financial district on Monday but police kept them well back from the New York Stock Exchange, which they had threatened to surround as part of a day of protests marking the movement's one-year anniversary.
Occupy Wall Street - Passé Or Canary In A Coal Mine?
The Occupy Wall Street protest movement is expected to resume Monday, on the 1-year anniversary of the protests. Is the coalition passé and irrelevant? Or is it a canary in a coalmine - an indicator of worsening economic and social problems in the United States?
UTexas, North Dakota State U Evacuated Friday After Bomb Threats
The University of Texas at Austin and North Dakota State University ordered evacuations on Friday because of bomb threats, the schools said.
US Federal Reserve Sept. 13 Meeting Statement [Full Text]
In the statement, the Federal Reserve announced Thursday it will buy $40 billion per month of mortgage-backed securities, the start of the so-called third round of quantitative easing, QE3. The Fed also said it will continue 'Operation Twist,' bringing total securities purchased per month to $85 billion.
Chesapeake Energy To Raise $6.9 Billion Via Asset Sales
Chesapeake Energy Corp said it will sell most of its Permian Basin properties to Royal Dutch Shell Plc and Chevron Corp and a majority of its pipeline assets to raise about $6.9 billion in cash.
Egyptians Angry At Film Scale US Embassy Walls
Egyptian protesters scaled the walls of the U.S. embassy in Cairo on Tuesday and pulled down the American flag during a protest over what they said was a film being produced in the United States that insulted Prophet Mohammad, witnesses said.
Reflecting On The Towers: At The Center Of The World
Originally viewed in the 1970s as a project that added too much office space to Lower Manhattan, the Twin Towers of the World Trade Center became a symbol not only for New York, but for the United States, for capitalism, for the cosmopolitan / urban life, for modernity itself.
Romney’s Tax Plan: Bush’s Tax Plan On Steroids
Gov. Mitt Romney's tax plan is President George W. Bush's tax plan on steroids: it cuts taxes on upper-income adults and the uber-rich, and vectors the U.S. budget deficit to even higher levels.