All Latest News Wires
Fed stimulus sends stocks soaring to 4-year highUS stocks rallied after news that the Federal Reserve will spend $40 billion a month to buy mortgage securities. Nearly four stocks rose for every one falling, and the Dow closed at its highest level since December 2007.
Health-care insurance: Coverage expands as law kicks inHealth-care insurance covered an extra 1.3 million Americans last year, according to new census data. US posts first improvement in health-care insurance since 2007.
BAE and EADS talk aerospace defense merger; stocks slideBAE Systems and EADS, leading aeropspace and defense companies, are in talks to merge and create a global aersopace defense giant. Stocks of both BAE and EADS Systems fell as the news leaked.
Housing rebound? Foreclosures dive in August.Foreclosures in the US fell on a year over year basis, dropping from a 17-year high in August 2011. At the same time, foreclosure starts increased almost exclusively in states like Florida and New York, where the courts must sign off on foreclosures.
Facebook stock gets a much-needed Zuckerberg boostFacebook is still riding the wave of CEO Mark Zuckerberg's first public comments since the IPO went public. Zuckerberg's acknowledgement that the company cares about making money as well as making the world more 'open and connected' sent Facebook stock up 7.7 percent Wednesday.
Stocks up after European rescue fund rulingStocks rose Wednesday after a German court cleared the way for that country to participate in a European rescue fund. The ruling helped push Germany's main stock index, the DAX, to its highest level since July of last year.
German backing of ESM bailout fund lifts oil futuresOil futures rose nearer to $98 a barrel Wednesday after a German court ruling favored an ESM (European Stability Mechanism) bailout fund for deeply indebted eurozone countries. The ruling means that the ESM can come into force by the end of this year.
Facebook CEO hints at mobile, search initiatives. Shares riseFacebook CEO Mark Zuckerberg, in his first public appearance since the company's disastrous initial public offering, says Wall Street doesn't understand Facebook's business potential in mobile. Losing more than half their value since May, Facebook shares gained more than 3 percent.听
UBS whistleblower: prison, then $104 million rewardUBS whistleblower Brad Birkenfeld gets record reward from IRS for exposing tax evasion at the Swiss bank. IRS investigation recovered $5 billion in back taxes and penalties from taxpayers.
Health-care premiums rise three times faster than wagesHealth-care premiums have doubled since 2002, a new study finds, while average wages to pay those premiums has risen only by a third. But the rise in health-care premiums is starting to slow.
Stocks rise in anticipation of Fed meetingInvestors hope an upcoming Federal Reserve meeting will lead to a jump in stock prices. The average of 30 large company stocks has already gained 1.8 percent to start September, a month which is usually dismal for stocks.
UBS whistleblower: IRS pays tax cheat informant $104MUBS whistleblower Bradley Birkenfeld was awarded $104 million by the Internal Revenue Service for providing information about overseas tax cheats. The UBS whistleblower is credited with exposing widespread tax evasion at the Swiss bank and was jailed after cooperating with authorities.
9/11 museum construction will resume; cost dispute resolved9/11 museum will resume construction after a cost dispute was resolved between the foundation that controls the museum and the Port Authority of New York and New Jersey. The 9/11 museum is designed to extend seven levels underground and will include artifacts from the day of the attacks,
Bad news from China sends stocks slidingAfter last week's stock market rally, the Dow fell 52 points to close at 13,254 on Monday. Investors hope potential new stimulus funding will send stock prices bouncing back.
Hewlett-Packard to dump 2,000 more workersHewlett-Packard will cut 2,000 more jobs than it had previously announced, bringing the total up to 29,000 by October 2014. The Hewlett-Packard layoffs may be a sign that the slumping personal computer market will weaken even further.
Plug-in profit woes: Chevy losing $49K per Volt modelChevy is losing up to $49,000 on every Volt model it builds, two years after the popular plug-in hybrid's launch. Cheap leases and high sales figures may have pushed the Chevy Volt deficit even higher over the summer.
AIG stock, $18B, to be auctioned by US Treasury DepartmentAIG stock owned by the US Treasury Department will be mostly unloaded, decreasing the Treasury Department's share to below majority stake. The $18 billion sale of AIG shares is the latest step to recoup taxpayer money spent on the bailout.
European debt crisis: a dangerous week aheadEuropean debt crisis enters a dangerous phase with a German court ruling, Dutch election, and EU finance ministers meeting this week. A reversal of support for the EU's beleaguered nations could intensify the European debt crisis.听
Coca-Cola's latest drink: No can. No bottle. Flavor drops.Coca-Cola to introduce Dasani fruity flavor drops. Coca-Cola sees huge potential. Next flavor drops: tea?
Russia, China: Global recovery weakeningAt Asian-Pacific summit in Vladivostok, Russia turns its attention to Asia to spur its trade prospects. China's Hu promises $157 billion domestic stimulus.
