Reuters: Business News

Bets on economy lift Wall Street; banks, tech lead

Wed, 10 Mar 2010 17:56:43 -0500

NEW YORK (Reuters) - Bank and technology shares lifted Wall Street on Wednesday on hopes a revival in business demand will boost corporate profits.

Best Buy bets on 3D TV, but no quick payoffs seen

Wed, 10 Mar 2010 19:03:15 -0500

NEW YORK (Reuters) - While James Cameron's 3D sci-fi epic "Avatar" took the box office by storm instantly, the road to success will be much longer for Best Buy Co Inc, which is making a big bet on 3D televisions this year.

Lawsuits, poker and the death of a boutique bank

Wed, 10 Mar 2010 11:08:25 -0500

NEW YORK (Reuters) - In September 2008, as Lehman Brothers was breaking into a million pieces, a young investment bank was pushing up through the rubble.

BofA under regulatory pressure to shrink: report

Wed, 10 Mar 2010 17:58:31 -0500

CHARLOTTE, North Carolina (Reuters) - Regulators have told Bank of America Corp Chief Executive Brian Moynihan and other executives that the largest U.S. bank by assets must become "much smaller," Fox Business Network's Charlie Gasparino reported on Wednesday.

Geithner urges reform on housing finance market

Wed, 10 Mar 2010 18:10:30 -0500

WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that "fundamental reform" of the government's role in the housing finance market is needed and it will be next year before proposals are ready for Congress.

Senate passes $149 bln for jobless aid, tax breaks

Wed, 10 Mar 2010 19:49:42 -0500

WASHINGTON (Reuters) - The Senate on Wednesday passed a $149 billion package of jobless aid and tax breaks, as Democrats continued efforts to lower the 9.7 percent unemployment rate before congressional elections in November.

GM CEO says U.S. will make money on bailout

Wed, 10 Mar 2010 19:54:34 -0500

SAN ANTONIO (Reuters) - General Motors Co will pay back roughly $8 billion in debt to the United States and Canada before June and could go public in a way that would allow taxpayers to make a profit on the bailout, Chief Executive Ed Whitacre said on Wednesday.

Walmart returns items to shelves after lost sales

Wed, 10 Mar 2010 16:34:40 -0500

SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc has put roughly 300 items back on its U.S. store shelves after the retailer said it "disappointed" customers by not stocking certain products.

Wholesale inventories fall, restocking expected

Wed, 10 Mar 2010 13:45:06 -0500

WASHINGTON (Reuters) - U.S. wholesale inventories fell unexpectedly in January and sales hit their highest in more than a year, suggesting businesses will soon need to begin restocking, which would support economic growth.

Macquarie in push to expand U.S. presence: report

Wed, 10 Mar 2010 20:02:48 -0500

NEW YORK (Reuters) - Macquarie Group Ltd , Australia's largest investment bank, wants to add more bankers in the United States to advise energy, industrial and technology companies, Bloomberg reported on Wednesday, citing an interview with a top company executive.