News agencies
Investors returned to the stock market on Monday, driven by positive news about housing and banking, resulting in the Dow Jones industrial average rising 235 points, its largest daily gain in over a month, and making up nearly three-quarters of last week's losses. The major indexes rose about
News agencies
As investors remain optimistic about the banking industry and the job market, Wall Street is shifting its focus to the consumer sector, with key retail sales data and first-quarter earnings reports from major retailers expected to be released in the coming week. The Commerce Department's retail sales report
News agencies
Older workers and retirees moving into new lines of work often face fewer benefits, lower pay, and reduced prestige, but according to a new study, they are likely to find greater job satisfaction. The study, conducted by the AARP Public Policy Institute in collaboration with the Urban Institute of Washington,
News agencies
The government's long-awaited "stress test" results have found that 10 of the nation's 19 largest banks need a total of about $75 billion in new capital to withstand losses if the recession worsened. The Financial system, like the overall economy, is healing but not
News agencies
Amazon's latest Kindle electronic reading device, with its 9.7-inch screen and increased data storage capacity, is poised to transform the college textbook market. The company, led by founder and CEO Jeff Bezos, has partnered with three major textbook publishers - Pearson PLC, Cengage Learning, and John Wiley
News agencies
As the digital landscape continues to evolve, companies around the world are emerging as leaders in innovation, transforming the way we live, work, and interact with each other. The listing provided by the source includes a vast array of companies from various sectors such as technology, media, publishing, and more.
News agencies
The preliminary results of the government-run stress tests have revealed that Citigroup Inc. and Bank of America Corp. will need to raise more capital based on the findings, unless they succeed in appealing the results. The stress tests, which were designed to simulate a worst-case economic scenario, found that the
News agencies
As the Federal Reserve prepares to release its methodology for the ongoing "stress tests" of the 19 largest U.S. banks, concerns are emerging that the tests may be tilted in favor of Wall Street banks over their regional counterparts. This is due to the methodology, which assumes
News agencies
Investors are on high alert as fears about the health of the banking system resurface, sparking a sharp decline in financial stocks. Bank of America Corp. set aside $13.4 billion to cover lending losses, and other big banks have increased their loss provisions in recent weeks. This development has
News agencies
The first quarter of 2009 may have been the best quarter for big banks like Citigroup, as they impressed investors with earnings reports that exceeded analyst expectations. Citigroup posted a first-quarter loss of $966 million, or 18 cents per share, which was narrower than the 34-cent forecast of analysts surveyed
News agencies
The acquisition by Express Scripts of the pharmacy benefits management businesses of health insurer WellPoint Inc. for $4.68 billion is expected to bring considerable negotiating clout to the company, potentially resulting in savings for its customers buying prescription drugs. As a result of the deal, Express Scripts, the third-largest
News agencies
A tense standoff ensued in the Gulf of Aden as Somali pirates hijacked the U.S.-flagged Maersk Alabama, but the American crew managed to retake control of the vessel despite the captain being held hostage. The incident highlights the increasing threat of piracy in the region, with six vessels
