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The stock market appeared headed Tuesday for its best January finish since 1997. Stocks climbed because of hopes that Greece was finally close to resolving its debt problem, then lost ground after an unexpected drop in consumer confidence.
The Dow Jones industrial average was down two points at 12,652 just before 10:30 a.m. EST. The Standard […]
The fragility of the global economy is the greatest threat to the banking industry as a return to recession could mean more losses from bad loans and bank failures, according to an industry survey.
Macro-economic risk rose to become the number-one concern among bankers, the Centre for the Study of Financial Innovation, a forum for […]
Costa Crociere SpA is offering uninjured passengers euro11,000 ($14,460) apiece to compensate them for lost baggage and psychological trauma after its cruise ship ran aground and capsized off Tuscany when the captain deviated from his route.
Costa, a unit of the world’s biggest cruise operator, the Miami-based Carnival Corp., also said it would reimburse passengers the […]
Stocks turned mixed Wednesday afternoon, erasing earlier losses, after the Federal Reserve said it will keep interest rates near zero for much longer than it had previously announced. Demand for ultra-safe Treasurys soared, pushing bond yields lower.
The Fed’s monetary policy committee said it is unlikely to raise interest rates before 2014, extending a period of […]
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Economy Minister Luis de Guindos said Spain is sticking to its deficit goal even as the economy shrinks, underlining a rift in the month-old Cabinet over whether the nation can halve its shortfall during a recession.
De Guindos said the government
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The Dutch finance minister says Greece’s private creditors may be forced to take losses if they can’t reach a deal to cut the country’s massive debt pile voluntarily _ the first eurozone finance minister to do so.
Jan Kees de Jager said Monday that “we’ve never said it (the debt restructuring) must be voluntary. Our goal […]
Walt Disney Co. has awarded CEO Bob Iger a 2011 pay package valued at $31.4 million, up 12 percent from a year ago. That’s according to an Associated Press analysis of data disclosed to regulators on Friday.
The Burbank-based company says Iger merited a boost in compensation for excellent management in a tough economic environment.
Disney generated […]
New construction of U.S. houses retreated in December, putting an end to a year in which builders broke ground on a record-low number of single-family homes, the Commerce Department estimated Thursday.
Housing starts fell 4.1 percent to an annualized rate of 679,000 last month, after a strong gain in November had put starts at their highest […]
Wall Street futures are rising modestly on hopes the International Monetary Fund will get a cash infusion and ahead of a host of U.S. economic reports.
Dow futures are up 20 points at 12,440. The broader Standard & Poor’s 500 futures are up 3 points to 1,293. The Nasdaq composite is up 9 points at 2,398.
Christine […]
A pension fund has sued St. Louis-based CPI Corp., alleging that the portrait studio operator broke federal securities laws by misleading investors about the company’s financial health.
The suit, filed by IBEW Local 98 Pension Fund, is seeking class action status for shareholders who purchased the company’s common stock between April 20, 2010 and December 21, […]
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