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
Former Federal Reserve Board vice chairman Preston Martin died Wednesday at his home in San Francisco after a brief illness, his family said in a statement. He was 83.
Robert Zoellick has dealt with the Cold War, the killing in Darfur, China's rise as an economic colossus. His next challenge: to restore confidence at the badly shaken World Bank.
A gauge of U.S. online recruitment activity rose for a fifth straight month in May as demand for workers eased slightly but remained strong, a global online careers and recruiting firm, said on Thursday.
World number two truck maker Volvo is selling its 28.7% stake in U.S. truck stop chain Petro Stopping Centers, yielding a capital gain of $46.3 million.
Facing a grim housing market, Pulte Homes said Tuesday that it is cutting about 16% of its work force, or about 1,900 jobs, as part of a restructuring.
A Ford Motor official predicts that his company's overall U.S. sales will drop in May, but its retail sales to individual buyers will show a year-over-year monthly increase for the first time since October of 2006.
Belgium-based supermarkets group Delhaize said on Wednesday that its American subsidiary would buy back up to $1.1 billion of its own debt, financed by the issue of new securities.
The U.S. securities regulator is probing whether two Dow Chemical executives engaged in unauthorized talks to sell the company, according to a source close to the matter.
UBS said Friday it plans to sell its 20.7% stake in private bank Julius Baer Holding to raise capital for its share repurchase program.
A consortium of banks led by Royal Bank of Scotland will decide by May 29 whether it will make an official bid for the Netherlands' ABN Amro, it said in a statement Friday.
AnnTaylor Stores posted lower quarterly earnings Thursday, as a weak assortment of clothes at its still-struggling LOFT chain forced the retailer to take deeper markdowns, hurting margins.
Tate & Lyle is anticipating "steady" growth in sales of Splenda sucralose, its zero-calorie sweetener product, over the next five years, building to a 70% utilization at its two sucralose plants in London and Singapore by 2012, chief executive Iain Ferguson told reporters on a conference call.
Swatch Group, the world's biggest watchmaker, is betting on a luxury goods boom in the United States and a recovering Japan as its sales continue to show double-digit growth, its chief executive said on Wednesday.
Blackstone Group's chairman told CNBC that the private equity giant approached China earlier this year about investing in the U.S., which led to China's decision to invest $3 billion in Blackstone itself. In an exclusive interview with CNBC's Michelle Caruso-Cabrera, Blackstone's Stephen Schwarzman called the surprise investment a positive move for the American economy.
DaimlerChrysler has assumed a $1 billion risk from Chrysler should its pension plans be terminated before an agreement with U.S. agency Pension Benefit Guaranty Corporation (PBGC) expires in five years.
Royal Bank of Scotland is in talks with Bank of America over a deal on LaSalle, the U.S. unit of ABN Amro at the heart of the battle for control of the Dutch bank, the Wall Street Journal reported.
Wal-Mart warned Tuesday that its profits in the current quarter could fall short of expectations after reporting an 8% gain in first-quarter earnings amid cost-cutting and strength in its warehouse clubs and international businesses. The company continued to struggle with its namesake discount business.
Home Depot, the world's largest home improvement chain, posted lower-than-expected quarterly profit on Tuesday as the softer U.S. housing market hurt sales at its retail stores. Based on the performance, Home Depot said it expected per-share earnings for this year to fall at the low end of a previously forecast range of 4 to 9 percent.
Dutch food retailer Ahold reported a slight dip in first-quarter group sales on Friday, in line with market expectations, but analysts said underlying sales growth boded well for a recovery.
Chocolate maker Hershey lowered its earnings growth outlook for fiscal 2007, citing higher dairy input costs.