Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards.» Read More
After bruising fights in GOP ranks over the "fiscal cliff" and aid for victims of super storm Sandy, Congress started a new session Thursday with Republicans more divided than ever.
NEW YORK, Jan 3- One modest way that U.S. lawmakers were able to offset the impact of delaying spending cuts in the deal to avert the "fiscal cliff" was through a retirement plan provision that is supposed to raise $12.2 billion over 10 years.
WASHINGTON, Jan 3- U.S. regulators on Thursday closed a long-running investigation of Google with a relatively mild agreement that is likely to disappoint rivals and critics of the Web search giant.
*Upgrade sparks short-covering on Alcatel-Lucent stock. Switzerland's SMI benchmark surged 2.9 percent, catching up with the European market rally on Wednesday sparked by Washington's deal to avoid the so-called fiscal cliff, with UBS up 4.1 percent and Roche up 3 percent.
*Transocean owned rig that exploded in 2010. *Transocean shares rise more than 5 pct in midday trade. WASHINGTON, Jan 3- Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from BP Plc's massive 2010 Macondo oil spill in the Gulf of Mexico.
WASHINGTON, Jan 3- Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from the massive 2010 BP Plc oil spill in the Gulf of Mexico, a source familiar with the matter said on Thursday.
NEW YORK, Jan 3- World stocks dipped on Thursday as traders took profits after equities hit an 18- month high in the previous session, while the U.S. dollar climbed to a three-week high against a basket of currencies on concerns about more budget wrangling in Washington.
*Costco, TJX, Ross, Gap top expectations. Costco Wholesale Corp, Nordstrom Inc, TJX Cos Inc and Ross Stores Inc were among winners of the month, but such chains as Target Corp and Family Dollar Stores Inc felt the pinch as consumers were cautious in their holiday spending.
LONDON, Jan 3- Gold fell from the prior session's two-week peak on Thursday as the dollar strengthened and a stock market rally stalled, with investors focusing on coming U.S. budget talks as euphoria over a vote to avert a fiscal crisis faded.
NEW YORK, Jan 3- The dollar climbed to a three-week high against a basket of currencies on Thursday as concerns about more budget wrangling in Washington drove investors to the more liquid U.S. currency.
NEW YORK, Jan 3- U.S. private-sector employers added more new jobs than expected last month even as a potential budget crisis loomed, helping the job market end 2012 on a high note, a report by a payrolls processor showed on Thursday.
WASHINGTON, Jan 3- U.S. private-sector employers stepped up hiring in December, suggesting some momentum in the economy as the year ended, even as a budget crisis loomed. The hope and prayer of the market is that our political leaders don't screw it up, "said John Brady, managing director at R.J. O'Brien& Associates in Chicago.
*US private sector adds 215,000 jobs in Dec- ADP. NEW YORK, Jan 3- Wall Street was set for a slightly lower open on Thursday, as investors lock in gains after a rally Wednesday, which was spurred by a deal by U.S. lawmakers to avert a "fiscal cliff" of austerity measures that had been due to kick in this year.
*Costco same-store sales up 9 pct, analysts' view 6.5 pct. *Macy's lowers quarterly sales and profit forecasts. Jan 3- Some major U.S. retailers had a tough December, with chains like Target and Family Dollar feeling the pinch as consumers were cautious in their holiday spending.
WASHINGTON, Jan 3- The number of Americans filing new claims for unemployment benefits rose last week, but the data continues to be too distorted by the holidays to offer a clear read of labor market conditions. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 372,000, the Labor Department said on Thursday.
*Costco December same-store sales up 9 pct. *At 8:30 a.m. EST, the Labor Department releases first-time claims for jobless benefits for the week ended Dec. 29. *Just ahead of that, Automatic Data Processing releases its employment report at 8:15 a.m. EST.
LONDON, Jan 3- World share gains stalled and the dollar rose on Thursday as investors grew concerned about political battles looming in Washington over spending cuts, following this week's deal to avoid sharp U.S. tax hikes.
Judd Gregg, Goldman Sachs international advisor, discusses how a "fundamental shift" in the country's demographics is impacting political policies.
U.S. House Speaker John Boehner made a U-turn on Wednesday to clear the way for approval of $60 billion in Superstorm Sandy relief by mid-January after drawing withering fire from fellow Republicans, including New Jersey Governor Chris Christie, for canceling an earlier vote.
U.S. executives largely panned the congressional deal to steer America away from the "fiscal cliff," saying Washington wasted an opportunity to address the nation's debt.