By Peter A. McKay Investors bet that the US economy hit its trough in the first quarter and drove US stocks to three-month highs Wednesday ahead of the afternoon statement from the Federal Reserve. In recent weeks, investors have fixated on the light at the end of the tunnel for the US economy …
By Shawn Langlois, MarketWatch SAN FRANCISCO (MarketWatch) — The Goodyear Tire & Rubber Co. shares rose more than 8% in early trading Wednesday after the company said it swung to a loss that wasn’t as bad as Wall Street had feared in the face of a …
By Lucia Mutikani WASHINGTON, April 29 (Reuters) – The US economy contracted at a surprisingly steep 6.1 percent rate in the first quarter, dragged down by a record plunge in business inventories and a slump in exports, data showed on Wednesday.
By Kendra Marr With just one day left before its government-imposed deadline, Chrysler chief executive Robert Nardelli said the company is making progress in its meeting restructuring requirements.
NEW YORK, April 29 (Reuters) – US crude futures firmed above $50 a barrel on Wednesday as traders shrugged off a larger-than-expected build in crude stocks in weekly government inventory data and banked instead on a bigger-than-forecast drawdown in …
By Ann Keeton Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)–A sharp drop in sales of business jets has led Textron Inc. (TXT) to suspend production of its new eight-passenger Cessna Citation Columbus model, its largest model, executives said during a …
By Laura Mandaro & Deborah Levine, MarketWatch SAN FRANCISCO (MarketWatch) — Some glimmers of hope buried in a report on the US economy’s surprisingly sharp contraction in the first quarter deepened the dollar’s slide against most rivals Wednesday, …
By Cotten Timberlake April 29 (Bloomberg) — Jones Apparel Group Inc. said it will shutter about 225 locations in 2009 and 2010, representing a fifth of its own stores, and cut as many as 1000 jobs to reduce costs as the recession slows apparel and …
By David Lawder WASHINGTON, April 29 (Reuters) – The US Treasury on Wednesday said it would sell $71 billion in notes and bonds next week in a record quarterly refunding and move to monthly auctions of 30-year debt to finance massive stimulus and …
By TIM ARANGO Time Warner is inching closer to an untangling of what many consider one of the worst mergers in American corporate history.