| Obama nears win on stimulus plan to boost economy
February 12, 2009 at 7:11 am
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| WASHINGTON (Reuters) - The U.S. Congress is poised to pass as early as Thursday a $789 billion package of tax cuts and spending programs aimed at reviving the staggering economy, a big, yet bittersweet victory for President Barack Obama. |
| Stock futures signal lower open
February 12, 2009 at 7:08 am
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| (Reuters) - Stock index futures pointed to a lower open on Wall Street on Thursday, as investors braced for retail sales data that could shed light on the extent of the damage from the recession on consumer spending. |
| Chinalco to invest $19.5 billion in Rio Tinto
February 12, 2009 at 7:07 am
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| MELBOURNE (Reuters) - Chinese state-owned aluminum group Chinalco will invest $19.5 billion in miner Rio Tinto in a deal that will secure resource supplies for China and help cut Rio's debt but also raise regulatory scrutiny. |
| Aetna net hit by investments, but results beat Street
February 12, 2009 at 7:07 am
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| NEW YORK (Reuters) - Health insurer Aetna Inc posted a 57 percent drop in fourth-quarter net income on investment losses and charges, but operating results were slightly ahead of analysts' targets. |
| GM talking with China's SAIC to raise cash-sources
February 12, 2009 at 6:48 am
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| DETROIT (Reuters) - General Motors Corp has held talks with China's SAIC Motor Corp about selling part of its stake in their joint venture or other assets as the U.S. automaker races to raise cash, two sources familiar with the discussions said. |
| New Swiss Re CEO signals back-to-basics approach
February 12, 2009 at 6:40 am
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| ZURICH (Reuters) - Swiss Re has appointed a reinsurance stalwart to the role of CEO as it returns to its core business, a week after saying it will end its financial markets unit and Warren Buffett's injection new capital. |
| Fed cautious on Treasuries buying idea: report
February 12, 2009 at 2:32 am
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| (Reuters) - The Federal Reserve's idea of buying Treasury bonds to aide U.S. growth is still on the table, but officials are wary of moving quickly on it, the Wall Street Journal said. |
| Pioneer to exit flat TV market, cut 10,000 jobs
February 12, 2009 at 2:14 am
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| TOKYO (Reuters) - Japanese electronics maker Pioneer Corp said it would pull the plug on its loss-making flat TV business and cut an additional 10,000 jobs as it heads for a record $1.4 billion annual loss. |
| U.S. banks tell lawmakers will help homeowners, for now
February 11, 2009 at 11:38 pm
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| WASHINGTON (Reuters) - The biggest U.S. banks on Wednesday agreed to halt foreclosures on delinquent homeowners for at least a few weeks, until the U.S. government launches a $50 billion aid program for homeowners. |
| Ex-M.Stanley China property head under SEC probe: sources
February 11, 2009 at 10:27 pm
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| HONG KONG (Reuters) - The former China head of Morgan Stanley Real Estate has been under an investigation by the U.S. Securities and Exchange Commission for suspected violations of the Foreign Corrupt Practices Act (FCPA), said three sources with knowledge of the matter. |
| Congress, White House reach stimulus deal
February 11, 2009 at 5:21 pm
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| WASHINGTON (Reuters) - U.S. congressional negotiators said on Wednesday they had reached a deal on a $789 billion package of spending and tax cuts, handing a big victory to President Barack Obama in his effort to pull the economy out of a tailspin. |
| Wall St. CEOs scolded by lawmakers
February 11, 2009 at 4:41 pm
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| WASHINGTON (Reuters) - Wall Street bank executives squirmed under a public scolding in the U.S. Congress on Wednesday over how they used $176 billion in bailout money without noticeably improving the battered economy. |
| Oil down 4.3 percent as IEA predicts big demand drop
February 11, 2009 at 3:51 pm
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| NEW YORK (Reuters) - U.S. oil prices fell 4.3 percent on Wednesday after the International Energy Agency said global energy demand this year would post its biggest decline since 1982 under the weight of the economic crisis. |
| KBR pleads guilty in Nigerian bribery case
February 11, 2009 at 3:35 pm
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| HOUSTON (Reuters) - KBR Inc , the former engineering subsidiary of Halliburton Co , pleaded guilty on Wednesday to federal charges it paid $180 million in bribes to Nigerian officials in a decade-long scheme to secure $6 billion in contracts. |
| U.S. to weigh if more needed for bank bailout: Geithner
February 11, 2009 at 1:34 pm
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| WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Wednesday he would inform Congress as soon as possible if more taxpayer money were needed to salvage the banking sector as part of the effort to reinvigorate the economy. |
| Sirius tumbles on bankruptcy report
February 11, 2009 at 10:41 am
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| NEW YORK (Reuters) - Shares of Sirius XM Radio Inc fell 28 percent on a report about the satellite radio provider's ability to meet its looming debt payments and the possibility that it might seek bankruptcy protection. |
| Caterpillar offers 2,000 workers early retirement
February 11, 2009 at 10:37 am
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| BOSTON (Reuters) - U.S. heavy equipment maker Caterpillar Inc on Wednesday offered voluntary early retirement packages to about 2,000 production workers. |
| Merrill secretly moved up bonus payments: Cuomo
February 11, 2009 at 10:36 am
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| NEW YORK (Reuters) - Merrill Lynch secretly accelerated bonus payments last year and gave at least $1 million to each of nearly 700 employees, even as the brokerage was amassing billions of dollars of losses, New York Attorney General Andrew Cuomo said in a letter to U.S. Rep. Barney Frank. |
| U.S., Madoff agree to delay of indictment: source
February 11, 2009 at 10:35 am
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| NEW YORK (Reuters) - U.S. prosecutors and Bernard Madoff's defense lawyers have agreed to postpone a deadline for the filing of a criminal indictment against the alleged swindler, a person close to the matter said on Wednesday. |
| Wall Street CEOs to defend use of bailout to Congress
February 11, 2009 at 10:19 am
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| WASHINGTON (Reuters) - The kings of Wall Street will try to soothe the Congress on Wednesday by defending their use of $176 billion in bank bailout money, but it may be a tough sell, even for the one-time "masters of the universe." |
| BlackBerry-maker RIM outlook disappoints, shares drop 12 percent
February 11, 2009 at 10:10 am
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| TORONTO/NEW YORK (Reuters) - Research In Motion said its quarterly earnings and gross margin would come in at the low end of expectations even as subscriber growth topped forecasts, a warning that sent shares of the BlackBerry maker down almost 12 percent on Wednesday. |
| FBI, bailout watchdog expands criminal probes
February 11, 2009 at 10:04 am
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| WASHINGTON (Reuters) - The FBI is investigating 38 cases of corporate fraud or financial institution wrongdoing tied to the economic crisis, and the federal bailout watchdog has already opened several criminal probes, officials told Congress on Wednesday. |
| Mortgage applications tumble, U.S. trade gap shrinks
February 11, 2009 at 9:30 am
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| WASHINGTON (Reuters) - The U.S. trade deficit shrank 4 percent in December, as the global financial crisis cut U.S. imports and exports for the fifth straight month, while U.S. demand for mortgages tumbled nearly 25 percent last week as potential buyers held out for better terms. | | | 
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