Saudi Arabia derives 80 percent of its revenue from oil and has a budgetary "break-even" point almost double the current per-barrel price of $40.» Read More
Shares in Swiss-based computer peripherals maker Logitech International gained up to 12 percent on Thursday amid speculation Microsoft would launch a takeover bid, traders said.
Christmas Eve brought glad tidings to Wall Street, with holiday cheer emanating from the battered financial sector and spreading through the market.
Barclays Bank accused Bear Stearns on Wednesday of loading one of its hedge funds with about $500 million in troubled assets just weeks before it collapsed with another fund.
Stocks closed mixed after another volatile day that featured lowered outlook for two key insurers, more jitters over credit and mixed results from an effort to shore up financials.
Stocks rebounded to close higher, helped by bargain hunting in beaten-down shares of large technology companies and a partial recovery by financial stocks.
Reinsurer Munich Re said Monday it reached a deal to buy U.S. healthcare insurer Sterling Life Insurance for $352 million (242.61 million euros) in cash, giving it more access to older Americans who want to buy health insurance.
The Treasury has weighed in on the side of the US Senate in a standoff with the House of Representatives over how to prevent the Alternative Minimum Tax from spreading to millions of new taxpayers this year.
A senior manager at the world's biggest bond fund criticized a federal mortgage rescue plan as short-sighted and said U.S. home prices may not hit bottom until 2010.
European Union regulators fined four companies a total of 487 million euros ($724 million) on Wednesday for fixing the price of flat glass used in the making of windows, fire-resistant glass and mirrors.
Daimler Chief Executive Dieter Zetsche does not expect the U.S. economy to contract as a result of high oil prices and the real estate crisis.
China is set to dislodge the United States as the world's top energy consumer soon after 2010, as scorching growth there and in India reshape the global energy order, the International Energy Agency said on Wednesday.
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With oil prices at record highs and supplies tight, seven Democratic senators Thursday asked the U.S. Energy Department to suspend deliveries of crude to the nation's emergency petroleum stockpile.
British Airways has urged its US partner American Airlines to get closer still as it seeks to fend off a transatlantic joint venture between Delta and Air France.
Americans Leonid Hurwicz, Eric Maskin and Roger Myerson won the Nobel Memorial Prize in Economic Sciences on Monday for their work that "laid the foundations of mechanism design theory."
Former US Vice President Al Gore and the UN climate panel shared the 2007 Nobel Peace Prize on Friday for raising awareness of the threat of global warming.
Good morning. As we begin the fourth quarter--traditionally the strongest--there are two topics on trading desks: 1) earnings season, and 2) to what extent the U.S. slowdown will spread to the global economy.
Investment bank Goldman Sachs has slashed its forecasts for economic growth in the United States, Japan and Europe, joining numerous forecasters who are abruptly changing view since the start of a global credit crunch.
Drug maker Bayer said Tuesday that it will delist its shares from the New York Stock Exchange this week, a move the company said would save it $21.2 million per year.
The European Union will press ahead with plans to include aviation in its emissions trading system despite United States' efforts through a U.N. body to discourage it, a spokeswoman for the EU executive said on Friday.