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U.S. Treasury Secretary Henry Paulson also reiterated previous statements that he sees "subprime risk as largely contained" and that he is "very much for a strong dollar," noting that strong growth outside of the U.S. has driven the dollar lower.
Volatility in in the air this morning, signaling another up and down day for Wall Street.Asian markets took a beating overnight after the big drop in U.S. stocks yesterday. Japan was off 2.4% and Korea fell 4%, its worse decline in three years. European markets were able to stem the wave of global selling in equities for a while but rolled over as U.S. futures slid. Some markets there are now moving higher.
There's a new sheriff at Dodge, and for that matter Chrysler as well. But the new boss is actually one of the old bosses. Either way you look at it, the return of Wolfgang Bernhard to be chairman of Chrysler is important for a few reasons. First, he brings the kind of urgency Chrysler needs.
French tire-maker Michelin said Friday that profitability increased sharply in the first half, with strong tire sales bolstered by a cost-cutting plan.
No, your eyes aren't deceiving you--Ford DID post a profit of $750 million. That's right, the automaker that was sucking fumes earlier this year is now back in the black. Which brings up the question: Is this real? The answer is yes, but don't take this to mean Ford is out of the woods.
While corporate credit markets are all in a frenzy, some of the more sober traders out there point out the underlying fundamentals are still in good shape.
If you are a Mercedes Benz fan, you may have already tuned in to the latest attempt by the automaker to reach out to buyers. It's called Mercedes-Benz.tv. It's actually on the Mercedes Benz Web site www.mercedes-benz.tv and it is perhaps one of the best sites run by an automaker, when it comes to advancing the placement of a brand.
Shares in Europe's largest chipmaker STMicroelectronics fell 4.6% following disappointing quarterly results and a cut in its growth expectations for the industry.
French automaker Peugeot-Citroen said Wednesday first-half earnings rose 60% on rising demand , better pricing and the rollout of new models.
An overwhelming majority of Vodafone Group shareholders have backed Chief Executive Arun Sarin's U.S. strategy and rejected calls by a rebel investor to release billions of pounds to shareholders.
European stocks are likely to climb an additional 5% to 10% this year from current levels, boosted by double-digit profit growth, an executive with the fund arm of HSBC Holdings said on Monday.
The newly appointed head of Airbus says politics will not throw pending plant sales off course but if dollar weakness worsens, its Power8 restructuring plan would need a drastic revamp.
Italian national carrier Alitalia will be shut down unless it finds a buyer, the government said, in an apparent warning to unions that played a central role in deterring suitors.
Linda Shesto, managing director at Divine Capital, told CNBC’s “Squawk Box” that she looks for a market correction of 3% to 5%.
ABN Amro said on Wednesday it would hold discussions with Barclays on a new bid proposal unveiled this week by the consortium that is seeking to dislodge Barclays as ABN's preferred merger partner.
Euro zone trade remained in surplus in May and the April surplus was revised up, data showed on Wednesday, as exports continued to grow twice as fast as imports despite a strong euro.
Heineken has doubled its forecast for organic net profit for the full-year of 2007, the company said in a press release.
Chemical and plastics maker Basell said on Tuesday it would buy Lyondell Chemical in a deal valued at about $12.14 billion, giving Basell access to a key raw material and Lyondell's refining capacity.
Volatility will be the watchword for European equity markets next week as a lack of corporate news looks set to leave stocks adrift and vulnerable to jitters about U.S. subprime lending losses.
European new car registrations rose 0.7% in June as demand in the countries that recently joined the European Union offset a decline in western Europe.