Reuters: Business News

S&P 500 posts highest close in nearly four years

Fri, 24 Feb 2012 18:56:37 -0500

NEW YORK (Reuters) - The S&P 500 rose on Friday to close at the highest level since before the collapse of Lehman Brothers in 2008, continuing a pattern of steady gains on signs of U.S. economic recovery.

Housing, confidence data bolster growth outlook

Fri, 24 Feb 2012 17:04:20 -0500

WASHINGTON (Reuters) - New U.S. home sales fell in January but upward revisions to the prior months' data and a drop in the supply of properties on the market added to signs of a budding housing recovery.

Greece launches long-awaited debt offer

Fri, 24 Feb 2012 20:50:25 -0500

ATHENS (Reuters) - Greece formally launched a bond swap offer to private holders of its bonds on Friday, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its messy finances back on track.

No G20 deal on IMF cash this weekend, pressure on Europe

Fri, 24 Feb 2012 20:43:04 -0500

MEXICO CITY (Reuters) - World economic powers told Europe on Friday it would have to do more to fight its financial crisis before they agree to provide back-up in the form of a bigger IMF war-chest.

Fed says policy appropriate, few hints of new stimulus

Fri, 24 Feb 2012 17:05:57 -0500

NEW YORK (Reuters) - Top Federal Reserve officials said on Friday the U.S. central bank's ultra-easy monetary policy is appropriate for a sluggish economy but one policymaker said further easing would only be warranted if conditions worsen.

Japan government to seek Tepco board resignation-media

Fri, 24 Feb 2012 23:18:14 -0500

TOKYO (Reuters) - The Japanese government will seek the resignation of Tokyo Electric's (Tepco) board of directors at a shareholder meeting in June in return for injecting $13 billion of public funds, the Mainichi newspaper said on Saturday.

World Bank chief says U.S. should lead some global bodies

Sat, 25 Feb 2012 01:24:32 -0500

SINGAPORE (Reuters) - A solid U.S. candidate to head the World Bank would be good for the United States and the bank because the world's largest economy should be represented in top international bodies, outgoing President Robert Zoellick said on Saturday, while emphasizing he has no role in the selection process.

Battle lines forming between MF Global customers, hedge funds

Fri, 24 Feb 2012 14:36:24 -0500

(Reuters) - The MF Global saga could soon become a legal battle between hedge funds and the futures brokerage's shortchanged customers, with more than a billion dollars at stake.

BofA mortgage move not likely to have big consumer impact

Fri, 24 Feb 2012 19:46:28 -0500

(Reuters) - Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank to charge less attractive mortgage rates.

Appeal verdict looms in aircraft subsidy dispute

Fri, 24 Feb 2012 14:22:01 -0500

PARIS (Reuters) - The United States will find out next week whether it has succeeded in overturning a ruling that Boeing benefited from billions of dollars of subsidies -- the latest twist in a transatlantic row that shows no signs of abating after years of inconclusive wrangling.