President Barack Obama called on Wednesday for new job-creation measures that are likely to further complicate talks with Republicans to bring the country's spiraling debt under control.
The US financial industry on Wednesday succeeded in blunting a government proposal to sharply cut the billions of dollars banks annually charge retailers to process debit card purchases.
Gujarat Chief Minister Narendra Modi today said that on one hand, the centre was increasing the prices of petroleum products, and on the other hand it was advising the states to reduce taxes on them.
The United States would immediately have its top-notch credit rating slashed to "selective default" if it misses a debt payment on August 4, Standard & Poor's managing director John Chambers told Reuters.
Dell Inc expects acquisitions to remain a critical focus for the computer maker, which is expanding into areas such as storage and services.
Failure by US lawmakers to agree soon on a deal to raise the government's borrowing limit could deliver a "severe shock" to a still fragile recovery and global markets, the International Monetary Fund warned on Wednesday.
Politicians and bankers are confident a French proposal for a Greek bailout can be adopted without triggering a default or a payout in credit insurance, lifting a key hurdle to a rollover of Greek debt, sources told Reuters.
French Finance Minister Christine Lagarde has been elected to head the International Monetary Fund (IMF). Lagarde will succeed another frenchman, Dominique Strauss Kahn, who resigned last month, following arrest in a rape case.
As Qatar rushes to prepare for the 2022 World Cup, the tiny Gulf Arab state is spending billions to build stadiums, roads, bridges, apartments and hotels on a patch of desert jutting out into the Gulf's waters.
Square, the mobile payment service started by Twitter co-founder Jack Dorsey, secured USD 100 million in a financing round led by Kleiner Perkins Caufield & Byers.
Lehman Brothers Holdings Inc said it has received a wider base of support from creditors for its reorganization, and filed a new plan it hopes will help it emerge from bankruptcy and pay creditors faster.
RockMelt, a Web browser that integrates Facebook and other social media, reeled in two more Silicon Valley heavy hitters in a new USD 30 million round of financing.
With Greece close to bankruptcy, Prime Minister George Papandreou is trying this week to push through parliament an austerity package needed to secure international funding by mid-July, when the country could otherwise default on its debt.
Politicians and bankers are confident that a French proposal for a Greek bailout can be adopted without triggering a pay-out in credit insurance, lifting a key hurdle to a rollover of Greek debt, sources told Reuters.
Greece's parliament approved a five-year austerity plan on Wednesday with 155 votes in favour and 138 votes against, suggesting Prime Minister George Papandreou was on track to win backing for a second law on Thursday.
Bank of America Corp said it expected to take more than USD 20 billion in charges after settling with mortgage bond investors, resulting in a second-quarter loss.
Toyota Motor Corp said it would recall about 45,500 Highlander hybrid and 36,700 Lexus RX 400h model vehicles in the United States, citing faulty transistors in the control boards.
India and Japan are scheduled to implement a comprehensive free trade agreement from August 1 to boost bilateral trade between the countries to USD 25 billion by 2015.
Greece's parliament looked increasingly likely to approve unpopular austerity measures on Wednesday, despite violent protests, to secure international funds to prevent the euro zone's first sovereign default.
Facing financial ruin and loans hard to come by, Greece has put its airports, railways, roads, ports and even energy companies for sale in order to help pay 110 billion Euro debt (USD 157 billion), amid hopes that Chinese investment will bail the country out.
The government will cover preschool education expenses for all 5-year-olds from next year as part of the efforts to reduce the burden of childcare, blamed to be as one of the reasons for the nation's low birth rates, officials said.
A moderate 5.6-magnitude earthquake hit off Indonesia's Sumatra island today, the local geophysics agency said, but there were no initial reports of damage or casualties.
The grey brick building where China's Communist Party held its first congress 90 years ago in the glitzy former French Concession area of Shanghai doesn't betray any trace of its peasant-proletariat past.
Some recent red-hot initial public offerings have the US Securities and Exchange Commission concerned that Wall Street's underwriters may be tempted to revive some troubling tech bubble practices.
Hewlett-Packard Co, the world's No 1 PC maker, plans to develop cloud computing products in China to sell globally, Chief Executive Leo Apotheker said on Wednesday, as global tech companies eagerly tap the booming Chinese market.