WASHINGTON (Reuters) - The Federal Reserve is expected to hold interest rates near zero at a meeting on Tuesday and renew its pledge to keep borrowing costs very low for a long time, but could note a brightening economic picture and hint at being closer to dropping the vow.
Analysts widely ...More
BEIJING (Reuters) - China on Tuesday again turned a deaf ear to U.S. demands for a stronger yuan, saying the currency is not the cause of its trade surplus and pledging to keep the exchange rate stable to help its exporters.
Beijing and Washington appear to be locked in a ...More
NEW YORK (Reuters) - Sony Corp has reached a deal with Michael Jackson's estate that could be worth as much as $250 million, the Wall Street Journal reported on Monday, citing people familiar with the situation.
The report said the deal, coming months after Jackson's death, is the most ...More
(Reuters) - The Wachovia Bank unit of Wells Fargo & Co <WFC.N> is in talks with the U.S. Justice Department to settle complaints relating to the alleged failure in bank controls that enabled Mexican exchange houses to launder drug money, the Wall Street Journal said, citing people familiar with the ...More
BRUSSELS (Reuters) - Finance ministers from the 16-country euro zone agreed on Monday to mobilize financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would work.
After talks in Brussels, the ministers published a statement saying they had agreed the technicalities ...More
SAN FRANCISCO (Reuters) - Google Inc said that it expects the rates that companies pay for search ads on mobile phones could surpass the rates of its existing PC-based ad business thanks to the growing popularity of powerful smartphones.
Google Engineering Vice President Vic Gundotra did not say when he expected ...More
BRUSSELS (Reuters) - Euro zone finance ministers agreed on Monday on a mechanism that would allow them to help Greece financially if needed, but revealed no details except that it would be without loan guarantees.
The mechanism would be activated if Greece were unable to finance itself on the market despite ...More
NEW YORK (Reuters) - The New York Federal Reserve Bank's president would become a political appointee and bank chiefs like JPMorgan Chase's Jamie Dimon could no longer sit on the board of their regulator under a proposal unveiled by the head of the Senate Banking Committee on Monday.
As ...More
NEW YORK (Reuters) - Lehman Brothers Holdings Inc <LEHMQ.PK> on Monday filed a plan with the U.S. bankruptcy court in Manhattan to wind down its remaining assets and operations -- and end the largest U.S. bankruptcy case in history.
Under the proposed Chapter 11 plan, a newly created business ...More
NEW YORK (Reuters) - Don't assume that "suggested" retail price on the store shelf is the price that shoppers typically pay.
A U.S. appeals court on Monday rejected claims that the children's clothing company Carter's Inc <CRI.N> deceived customers by posting in their stores suggested prices ...More
