CHICAGO, Feb 27- Moody's Investors Service on Friday cut Chicago's already-weak credit rating one notch to Baa2, citing the city's growing costs related to its big unfunded pension liability. The downgrade to Baa2, which is just two notches above the junk level, affects $8.3 billion of Chicago's general obligation bonds. Moody's warned the rating could fall...» Read More
Some of the biggest hedge funds that helped make Apple a stock market darling lost faith and dumped their stakes in the fourth quarter, fueling the massive drop in the iPhone maker's share price.
The U.S. St. Louis Fed Bank President James Bullard said the switch to outright open-ended bond purchases, plus the adoption of thresholds to guide expectations on when the Fed would start to raise interest rates, were making policy more effective.
The European Union's executive formally proposed on Thursday a tax on financial trading in 11 countries to raise up to 35 billion euros annually, saying it was a first step to applying the levy across the whole bloc.
Discoveries so far of horsemeat in products sold as beef are likely to be the "tip of the iceberg", a British parliamentary report into the scandal said on Thursday.
A federal judge has dismissed antitrust lawsuits accusing Visa, MasterCard, JPMorgan Chase, Bank of America and Wells Fargo of conspiring to fix automated teller machine fees.
Unsecured creditors of American Airlines parent AMR have approved an $11 billion merger with US Airways, sources said. The deal is expected to be announced Thursday.
A $2 trillion economy and a stock market that trades at valuations cheaper than Pakistan - Russia is struggling to gain the trust of international capital.
Being a big wheel in the earth mover business, Vipin Sondhi has a very clear idea why the Indian economy is stuck in the mud and what the government must do to change the mindset of business executives, like himself.
In the State of the Union, Obama will lay out a plan for economic growth, seeking to attract jobs from overseas, the White House said. Traders are interested in his tone.
Intel plans to launch an online television service this year that will stream live TV as well as provide content on demand.
Monetary policies must not be directed at devaluing currencies, the Group of Seven nations said in a statement aimed at cooling growing international tensions over exchange rates and prompting yen to surge.
Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.
Six big French retailers said on Sunday they were recalling lasagna meals and other products suspected of being mislabeled after the discovery of horsemeat in beef products.
With the road ahead looking a bit smoother, G20 finance ministers will be happy to ignore the wreck in the rear-view mirror when they meet this week to steer a course for the world economy.
French efforts to divert Europe from economic austerity have foundered twice in a week due to German resistance, underlining a growing policy divide that is hobbling the core partnership.
Samsung starts gaining market share, hurting Apple Inc's margins and stock price and threatening its reign as the king of cool in consumer electronics.
Spain's prime minister published his tax returns on Saturday in a bid to quell reports he and other conservative politicians received secret cash payments but the opposition said many questions remain unanswered.
US Airways Group and AMR are nearing an $11 billion merger that would create the world's largest airline and could announce a deal within a week, people familiar with the matter said.
The French and British governments promised on Saturday to punish those found responsible for selling horsemeat in beef products at the heart of a growing scandal.
French carmaker Renault has started recalling over 60,000 cars exported to China due to problems with their fuel level sensors, state news agency Xinhua reported.