Thursday, 19 Nov 2009 | Source: The Associated Press
Aluminum producer Alcoa Inc. said Thursday it will temporarily idle production at its two smelters in Italy, affecting about 2,000 workers, after a decision by the European Union left the company's ability to secure electricity for the plants at low rates uncertain.
Las Vegas has cleaned up since its days as a magnet for ill-gotten mobster gains, but a Canadian insider trading scam has exposed the smaller-scale money laundering still going on in the desert city's casinos.
U.S. companies hurt by the global credit crisis are continuing to hold more cash, even as the economy begins to show signs of improvement, the Wall Street Journal said, citing its analysis of company filings.
Thursday, 8 Oct 2009 | Source: The Associated Press
Painful cost-cutting and rising sales to automakers helped the nation's largest aluminum producer return to profitability for the first time in nine months.
Stocks appear set to resume this week's rally, after a Wednesday pause that saw the major averages move barely at all. The fresh round of optimism is being sparked by the unexpected profit from Dow component Alcoa, which kicked off third quarter earnings season on an upbeat note.
Alcoa beat the Street Wednesday when it reported a third-quarter profit after three consecutive quarterly losses, turning in a revenue number that also topped expectations. CNBC's Maria Bartiromo spoke with Alcoa CEO Klaus Kleinfeld after the announcement.
Wednesday, 7 Oct 2009 | Posted By:
Jeff Cox | Source: CNBC.com
Third-quarter earnings got off to a positive start with Alcoa's surprising profit, but investors will be watching corporate results closely to see if they justify a continued stock market rally.
Stocks ended mixed Wednesday as banks and techs gained but investors took a wait-and-see approach ahead of the start of earnings season. But banks and techs gained.
Wall Street momentum has clearly shifted back in the direction of the bulls. After falling for seven of eight sessions, the major averages have now risen for two consecutive days, with the Dow chalking up its biggest one-day advance since August 21.
The latest overall job loss numbers showed a loss of 190,000 jobs in September and the unemployment rate rose to 10.2%, the highest unemployment rate since April 1983.... Read More
The S&P 500 logged its best one-day percentage gain in three months on Thursday after GDP data showed the economy expanded at an annual rate of 3.5% in the third quarter.... Read More