Reuters: Business News

S&P 500 hits 17-month high as banks lift Wall St

Thu, 11 Mar 2010 16:29:49 -0500

NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.

Bank reform talks fail, Dodd to go solo

Thu, 11 Mar 2010 17:11:27 -0500

WASHINGTON (Reuters) - Chances of a broad overhaul of U.S. financial regulation dimmed on Thursday after bipartisan Senate talks collapsed, jeopardizing a top Obama administration priority and boosting bank share prices.

Toyota incentives drive March U.S. sales up sharply

Thu, 11 Mar 2010 15:47:11 -0500

DETROIT (Reuters) - Sales incentives, including zero-percent financing offers, have boosted Toyota Motor Corp's U.S. sales by nearly 50 percent in early March, an industry tracking service and dealers said on Thursday.

Citigroup sees return to sustained profitability

Thu, 11 Mar 2010 16:37:59 -0500

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

Movie "Avatar" has few fans among mining execs

Thu, 11 Mar 2010 16:36:04 -0500

NEW YORK (Reuters) - It's enough to make a mining executive grit his teeth or his kids to give him the silent treatment.

Jobless claims fall, trade gap narrows on oil

Thu, 11 Mar 2010 16:39:58 -0500

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for unemployment benefits fell only slightly last week, indicating a sluggish return to jobs growth. The U.S. trade gap shrank as oil imports fell.

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 bln for fields

Thu, 11 Mar 2010 16:47:18 -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 16:11:01 -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 public after a judge ruled he could do so on Thursday.