Unions At Bankrupt American Airlines Endorse US Airways Takeover
Unions representing more than 50,000 workers at bankrupt American Airlines said Friday they signed a conditional labor agreement with U.S. Airways (NYSE: LCC) and are supporting that carrier's bid to take over their ailing employer.
Gold Prices Rise Above $1,645
Gold rose above $1,645 an ounce on Friday as a better-than-expected German business sentiment survey lifted the euro versus the dollar, but trading was light as investors awaited further news on the euro zone crisis and U.S. monetary policy.
Johnson Controls Posts Quarterly Profit Gain
Johnson Controls Inc. (NYSE: JCI), the world's No. 1 maker of car batteries, said Friday its fiscal second-quarter profit rose but excluding one-time benefits the company's profit fell 5 percent.
Gold Prices Fall For A Fifth Day
Gold eased on Thursday as European debt jitters and worries over the U.S. job market extended the metal's losses for a fifth consecutive day.
Abbott Lab Shares Up After Big 1Q Profit Increase
Shares of Abbott Laboratories (NYSE: ABT) rose Wednesday after the health care products maker reported a 43 percent jump in first-quarter earnings on a higher sales in emerging markets and also raised its full-year earnings guidance.
Nestlé To Pay $9B For Pfizer's Infant-Nutrition Business: Report
Nestlé SA is expected to pay at least $9 billion to U.S. drugmaker Pfizer Inc. for the U.S. drugmaker's infant-nutrition business, the Wall Street Journal reported Tuesday.
Stocks, Industrial Commodities Soar: Daily Markets Wrap
Good corporate earnings, falling Spanish interest rates and an upward revision in the International Monetary Fund's outlook for the U.S. economy on Tuesday offset a weak housing report to lift equities and industrial commodities.
US Stocks Soar On Earnings, IMF Forecast, Falling Spanish Yields
U.S. stocks soared Tuesday on good corporate earnings, falling Spanish interest rates and an International Monetary Fund forecast for strong economic growth in the United States.
BoA Seeks Buyer For $3B Non-US Wealth Management Business
Bank of America Merrill Lynch, the world's largest wealth manager, is seeking a buyer for its wealth management operations outside the U.S., Reuters said Tuesday.
IMF Increases US Economic Growth Forecast
The International Monetary Fund on Tuesday raised its projection of growth in the U.S. gross domestic product to 2.1 percent this year and 2.4 percent next year, from 1.7 percent in 2011.
Endeavour Silver Paying Up To $250M To AuRico Gold For 2 Mines
Canada's Endeavour Silver Corp (EDR.TO) is buying two of AuRico Gold's (AUQ.TO) silver and gold mining interests in Mexico for up to $250 million in cash and stock to expand its footprint in the country.
Gold Prices Fall in Quiet Trading
Gold prices fell in quiet trade on Monday, following crude oil's losses, as worries about Spain's ability to repay its debt and a resurgent euro zone debt crisis extended bullion's loss to a second day.
Spain's Yields Rise Above Critical 6% Level
Spain's debt yields rose above 6 percent on Monday as investors worried about its budget deficit, knocking the euro and sending safe-haven German bonds to a record last set at the height of the euro zone crisis.
Harmony Gold Reports Big Production Drop
Harmony Gold, South Africa's third-largest gold producer, on Friday became the latest miner to report a sharp drop in output in the first 3 months of 2012 because of an increase in government-ordered safety stoppages.
Gold Prices Fall Hard As Dollar Soars
Gold prices slipped below $1,670 an ounce on Friday, pausing in their biggest one-week rally since late February as the dollar firmed against key currencies, with the euro falling out of favour due to worries over Spain's financial health.
Wells Fargo 1Q Profit Tops View On Mortgage Strength
Wells Fargo & Co., the fourth-largest U.S. commercial bank, said Friday strong mortgage activity during the first quarter offset higher expenses to produce higher-than-expected revenue and profit.
Gold Prices Ease For Second Day
Gold eased for a second consecutive day on Thursday, but was still set for its largest weekly gain in six weeks, thanks to the toll the re-emergence of the euro zone debt crisis has taken on investor risk appetite.
Alcoa's 1Q Profit Falls 69% But Beats Estimates; Shares Rise
Alcoa Inc., the biggest U.S. aluminum producer, said Tuesday its first-quarter income fell 69 percent as higher costs offset increased revenue, but results beat expectations and shares jumped 5 percent.
Michelin Spending $750M On US Expansion, Job Creation
Michelin SCA, the world's second largest tire maker behind Bridgestone Corp., said Tuesday it will build a factory in South Carolina and expand another in the state in a $750 million expansion.
Best Buy CEO Resigns, Board Member Named In Interim
Brian Dunn, who has worked at the electronics retailer for 28 years, will be replaced on a temporary basis by director G. Mike Mikan. A search committee will seek Dunn's permanent replacement.
Gold Prices Steady, Early Gains Surrendered
Gold steadied on Tuesday, surrendering earlier gains as a rally sparked by expectations that a sluggish U.S. employment market could fuel further monetary easing ran out of steam in the face of a firming dollar and easing appetite for risk.
U.S. Economic News Dents Stocks: Daily Markets Wrap
The risk-on sentiment ginned up by the kindness of western central banks plus the first quarter's good weather, which pulled forward consumer spending and construction activity, is fading.
Avion Gold' 1Q Production From Mali Jumps 30%
Avion Gold Corp reported a 30 percent rise in first-quarter production at its Tabakoto and Segala projects in Mali, sending its shares up about 20 percent, but said its mill expansion may be delayed as the coup-hit West African country limps back to normal.
Gold Prices Rise More Than 1% On Monetary Easing Hope
Gold prices rose more than 1 percent on Monday, recovering from last week's hefty drop after disappointing U.S. jobs data revived hopes for fresh monetary easing and a spike in Chinese inflation boosted appetite for the metal.
US Stocks Fall Hard After Grim Jobs Report
U.S. stocks fell hard Monday after a surprisingly weak jobs report on Friday left investors hunting for safety rather than big returns.
Gold Prices Rise On Short-Covering
Gold rose on Thursday, as investors covered short positions after a sharp two-day pullback, and a crude oil rally also buoyed the precious metal that sank early this week on disappointment about further U.S. monetary easing.
Gold Prices Inch Up From 3-Month Low
Gold inched higher on Thursday after falling to a near three-month low the previous day as weaker prices tempted some buyers, but gains were capped by a stronger dollar and fading hopes for a fresh round of monetary stimulus in the United States.
Planned Job Cuts In March Decline From Feb Level
U.S. employers planned 27 percent fewer job cuts in March compared with February and the lowest number of planned cuts since May 2011, global outplacement firm Challenger, Gray & Christmas Inc. said Thursday.
GE, Best Buy Suffer Credit Rating Setbacks
Two of the most iconic American brands suffered setbacks to their credit ratings on Wednesday, evidence that some of the nation's most visible economic engines could face higher borrowing costs.
S&P Warns Best Buy Its Credit Rating May Soon Be Junk
Standard & Poor's Ratings Services said Wednesday it was considering slashing the credit rating of Best Buy Co. Inc. to junk status, or below investment grade.
