US conglomerate GE said it agreed to buy Britain's oilfield-services company Wellstream Holdings Plc for 800 million pounds ($1.3 billion) to broaden its base in fast-growing emerging markets.
IBT Staff Reporter
Dec 13, 2010
Stocks drifted higher, with the S&P 500 approaching a two-year high, as traders seemed pleased with a narrowing trade deficit and higher consumer confidence, ahead of an expected extension of Bush-era tax cuts by the federal government.
Palash Ghosh
Dec 10, 2010
U.S. drug giant Pfizer (NYSE: PFE) hired investigators to dig up dirt on Nigeria’s former attorney general in order to stop an investigation over a controversial drug trial the company conducted which led to the deaths of eleven children, according to cables released by WikiLeaks.
Palash Ghosh
Dec 10, 2010
European bankers will be subject to limits on bonus payments they receive starting next year. Meanwhile, in Ireland, politicians are seeking to impose a 90 percent “super-tax” on bank bonuses
Palash Ghosh
Dec 10, 2010
Rodman & Renshaw initiated exploration company Energy Partners Ltd. (NYSE:EPL) with a Market Outperform rating and a target price of $18, saying its turnaround story is worth another look.
IBT Staff Reporter
Dec 10, 2010
Stocks finished narrowly mixed in lethargic trading as an early jump on a benign jobless claims data faded away on a stronger U.S. dollar and later on news that Democrats in the House voted against considering the tax cut extensions that President Obama negotiated with Republicans.
Palash Ghosh
Dec 09, 2010
New shares of Chinese online video broadcasting company Youku (NYSE:YOKU) are selling like it's 1999.
Hao Li
Dec 09, 2010
While it may make some strategic sense for Yahoo and AOL to combine some of their operations, she sees little hope for the resulting merged entity to mount a challenge against the reigning monarch of the search-engine market, Google (NASDAQ: GOOG).
Palash Ghosh
Dec 09, 2010
Having just touched an all-time high in price, demand for copper is expected to be very strong in the coming years, driven primarily by China’s insatiable hunger for commodities of all kinds to support its relentless program of mass urbanization.
Palash Ghosh
Dec 09, 2010
Insurance giant American International Group has signed a debt repayment deal with Federal Reserve Bank of New York, paving way for the Treasury Department to sell a significant stake in the company early next year.
Manikandan Raman
Dec 09, 2010
Stocks crept higher in a choppy trading session as traders likely had more time to digest the implications of the extension of George W. Bush’s tax cuts for two years, as well as a renewal of unemployment insurance for long-term jobless for thirteen months.
Palash Ghosh
Dec 08, 2010
A moderate stock rally fueled by a compromise between President Obama and Republicans on tax extensions and unemployment benefits petered out in late-session trading, resulting in a narrowly mixed results for major equity indices.
Palash Ghosh
Dec 07, 2010
Energy services company AGL Resources Inc. announced an agreement to acquire rival Nicor Inc. for about $2.4 billion in cash and stock, creating a leading natural gas distributor in the U.S.
IBT Staff Reporter
Dec 07, 2010
The U.S. Treasury Department said it will attempt to dispose of its remaining common equity stake in Citigroup through an initial public offering (IPO).
Hao Li
Dec 07, 2010
The U.S. Department of the Treasury said it plans a public offering of its remaining 2.4 billion shares of Citigroup Inc. (NYSE: C) common stock.
Palash Ghosh
Dec 06, 2010
Stocks, which fell early in the session on some gloomy remarks on the economy from Federal reserve Chairman Ben Bernanke, pared much of their losses later in the day on hopes that The Republicans and Democrats in Congress can hammer out a compromise on extending the Bush tax cuts as well as unemployment benefits.
Palash Ghosh
Dec 06, 2010
Plenty of U.S. organizations are praising the newly-negotiated U.S.-Korea Free Trade Agreement, which is awaiting approval from lawmakers of both countries.
Hao Li
Dec 06, 2010
S&P 500 Index slid 3.63 points, or 0.31 percent, to trade at 1,220.95 at 09:55 a.m. EST. The Dow Jones Industrial Average is down 30.08 points, or 0.26 percent, to trade at 11,352.01. The Nasdaq Composite Index fell 0.28 percent to trade at 2,584.64.
IBT Staff Reporter
Dec 06, 2010
Kellogg Co. (NYSE: K) said chief executive David Mackay announced his plans to step down, and he will be succeeded by chief operating officer John Bryant, effective January 2, 2011. The cereal giant also reaffirmed its 2010 and 2011 sales and profit forecasts.
IBT Staff Reporter
Dec 06, 2010
The brokerage reiterated its 'outperform' rating on shares of the industrial products maker, while increasing its price target to $62 from $60.
Balasubramanyam Seshan
Dec 06, 2010
Pfizer Inc. announced that its chief executive Jeffrey Kindler has retired from the company and he will be replaced by Ian Read, currently head of its global biopharmaceutical operations.
IBT Staff Reporter
Dec 06, 2010
As the holiday shopping season is underway, Best Buy Mobile, the mobile specialty retail unit of Best Buy Co. Inc. (NYSE:BBY), will be offering a minimum of four free smartphones every day through December.
IBT Staff Reporter
Dec 03, 2010
