Reuters: Business News

Wall Street dips on China concerns, but banks rise

Thu, 11 Mar 2010 14:25:36 -0500

NEW YORK (Reuters) - Worries that China may move to cool its overheating economy weighed down U.S. stocks on Thursday, but rising bank shares kept the market near break even.

Financial reform deal fails, hopes for 2010 dim

Thu, 11 Mar 2010 13:04:51 -0500

WASHINGTON (Reuters) - Chances of a broad overhaul of U.S. financial regulation this year dimmed on Thursday after bipartisan Senate talks collapsed.

Citigroup sees return to sustained profitability

Thu, 11 Mar 2010 14:38:35 -0500

NEW YORK (Reuters) - Citigroup Inc Chief Executive Vikram Pandit told investors on Thursday that the bank is on track to return to sustained profitability, and that losses from some of its worst assets should be manageable if the economy does not deteriorate.

Jobless claims fall, trade gap narrows on oil

Thu, 11 Mar 2010 14:05:51 -0500

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for unemployment benefits fell only slightly last week, indicating that rapid job growth would probably continue to elude the economy for a while.

Fed seen keeping "extended period" low rate vow

Thu, 11 Mar 2010 14:20:51 -0500

WASHINGTON (Reuters) - Lingering U.S. labor market weakness and nagging doubts about the solidity of the economic recovery are expected to keep the Federal Reserve committed to holding borrowing costs very low for a long time at a monetary policy meeting next week.

Exxon boosts 2010 capital spending to $28 billion

Thu, 11 Mar 2010 14:45:32 -0500

NEW YORK (Reuters) - Exxon Mobil Corp will increase capital spending nearly 4 percent this year to $28 billion in part as the largest U.S. oil company seeks to increase its share of the global market for natural gas.

BP to pay Devon $7 billion for oil fields

Thu, 11 Mar 2010 11:39:07 -0500

LONDON/NEW YORK (Reuters) - BP will pay $7 billion to Devon Energy for assets that will extend its reach into Brazil and bulk up its position in the Gulf of Mexico, as the world's top oil companies look to acquisitions to refill depleting reserves.

Judge says Lehman examiner can make report public

Thu, 11 Mar 2010 15:10:08 -0500

NEW YORK (Reuters) - The court-appointed examiner who investigated the collapse of investment bank Lehman Brothers Holding Co is set to make his report publicly available, after a judge ruled he could do so on Thursday.

BofA retirement business winning clients: CEO

Thu, 11 Mar 2010 14:46:43 -0500

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp's push into the competitive realm of managing retirement assets is paying early dividends.

How free markets sank the U.S. economy

Thu, 11 Mar 2010 11:45:24 -0500

NEW YORK (Reuters) - Two years ago, a poisonous brew of bad economics, lax regulation, and egregious behavior boiled over, scalding the financial system and pitching the United States into its steepest downturn since the Great Depression.