Euro zone finance ministers inched toward approving a second bailout for debt-laden Greece Monday night that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.
Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.
Rio Tinto PLC, the world's second largest iron ore miner, is set to spend more than half a billion dollars automating cars, trains and trucks at one of its Western Australia mines so that they can be operated remotely.
The Darlings tells a fictional tale about the downfall of a hedge fund and the wealthy family that owns it during Wall Street's 2008 meltdown, but many aspects of the novel are drawn straight from author Cristina Alger's reality.
Samsung Electronics will spin off its liquid crystal display division, dumping an unprofitable segment as the company shifts its focus towards thinner displays.
TransUnion Corp., the third largest provider of credit information to banks and consumers, said Advent International Corp. and Goldman Sachs Group Inc.'s private equity arm agreed to buy the company from Chicago's billionaire Pritzker family and local private equity firm Madison Dearborn Partners LLC for over $3 billion.
Samsung Electronics announced Monday that it will spin off its LCD business division to launch a new entity provisionally called Samsung Display Co., set to go live on April 1, 2012. The move awaits shareholder approval, but the new business will reportedly launch with about $668 million in paid-in capital to start working with.
The black velvet dress and pair of earrings worn by Whitney Houston in The Bodyguard along with other Hollywood celebrity memorabilia like Charlie Chaplin's cane will be up for bids at the Hollywood Legends auction in Beverly Hills, Calif.
French media group Vivendi's Universal Music is seeking EU regulatory approval to buy British record label EMI's recorded music unit for $1.9 billion to boost its worldwide market share, the European Commission said on its website on Monday.
Sudan has secured a five-year delay on its debts to China, the finance minister said on Saturday, part of efforts to make up for the loss of revenues from the oil-producing south.
For some observers, Greece can seem like a small problem in a distant land, incapable of affecting U.S. investors. But in the financial crisis era, that is most certainly not the case.
Eurozone finance ministers expected to approve second bailout for Greece to draw line under months of turmoil that has shaken the currency bloc.
Wal-Mart Stores Inc., has announced that it will increase its investment in the holding company of Yihaodian, Chinese eCommerce company, in an effort to strengthen its online presence.
China’s central bank has announced a cut in reserve requirements for the first time this year to reinforce economic growth.
Spending on information technology fell 13 percent in Egypt last year after the fall of former president Hosni Mubarak and will be flat for 2012 as a political void stalls government investment in the sector, IDC said on Sunday.
Japanese prosecutors are considering indicting the Olympus Corp. as a company for falsifying its financial reports to conceal huge investment losses in a $1.7 billion scandal, the Kyodo news agency reported on Sunday, quoting investigative sources.
Stephen Schwarzman, the boss of Blackstone, the world's biggest private-equity firm, made his fortune by buying, restructuring and selling companies -- delivering outsized returns for investors. These days, he is getting huge rewards for being the largest shareholder in what is more like an asset manager on steroids.
In the latest in a string of asset sales, Canada's Encana Corp. will sell a 40 percent stake in British Columbia natural-gas assets to Japan's Mitsubishi Corp. in a C$2.9 billion ($2.9 billion) deal that will help the energy company strengthen a balance sheet weakened by low gas prices.
U.S. job creation will accelerate a bit this year as a moderate economic recovery continues, the White House said on Friday, but it faces a key risk from the debt crisis in Europe -- and President Barack Obama's annual economic report warned that the road ahead could still be bumpy.
Masters of the Eurozone are considering tweaks to Greek debt restructuring in terms of its private-sector involvement among several options to further cut Greek debt toward the target of 120 percent of gross domestic product in 2020, officials said.
While Indian authorities have launched an investigation into Monday's New Delhi car bombing, and its suspected masterminds, Prime Minister Manmohan Singh's government has continued to embrace trading with the country that is widely suspected of the attacks -- Iran.
The major U.S. indices floated close to yearly highs Friday, but extremely low volumes of trading, divergences in the behavior of important sub-indices and various other technical indicators suggested U.S. equities might be in for a price-slashing correction soon.
