The US Treasury Department said Thursday that it plans to sell about 40 percent of its shares in rescued bank Ally Financial for around $3 billion. Ally Financial, the former lending arm of automaker General Motors, was bailed out by the government…
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Global business and economy news
European stocks pulled back on Thursday, failing to gain traction from a surprise drop in US unemployment claims, while Citigroup earnings disappointed. London’s benchmark FTSE 100 index ended the day down just 0.07 percent at 6,815.42 points. Frankfurt…
US stocks finished the week modestly higher following a mixed batch of corporate earnings reports, avoiding a major retreat that had been feared early in the period. The Dow Jones Industrial Average edged 21.51 (0.13 percent) higher to 16,458.56. The…
US President Barack Obama will head to Brussels on March 26 to attend an EU-US summit, a European source told AFP Friday. The meeting is expected to give Obama the opportunity to mend ties with the 28-nation bloc, after tensions over revelations that…
Nintendo on Friday warned it would swing back into the red this fiscal year as the Japanese gaming giant slashed its sales target for the Wii U console, blaming poor sales over the key holiday season. The dramatic downgrade stands in marked contrast…
Dunkin’ Brands Under the agreement, Dunkin’ Donuts will become the official coffee, tea and bakery partner for Liverpool FC, and Baskin-Robbins will become the official ice cream partner. Dunkin’ Brands Group, Inc. (Nasdaq: DNKN), the parent company…
A federal judge Thursday rejected Apple’s request for more time to comply with a ruling on e-book price-fixing, while chastising the company for failing to cooperate with a court-appointed monitor. US District Judge Denise Cote denied Apple’s request…
lnternational Monetary Fund chief Christine Lagarde said Wednesday that growth in the global economy was picking up, but warned of the “rising risks” of deflation. “Momentum strengthened in the latter half of 2013, and should strengthen further in 2014…
US stocks Wednesday moved higher following a rise in European markets after the World Bank raised its growth forecast for the global economy. About 35 minutes into trade, the Dow Jones Industrial Average advanced 74.31 (0.45 percent) to 16,448.17. The…
The S&P 500 Wednesday closed at a new record following a batch of mostly solid economic and corporate earnings reports, and a modestly upbeat Federal Reserve report. The S&P 500 jumped 9.50 (0.52 percent) to 1,848.38, edging past the prior record of…