- 09Nov
(Reuters) - Oil resumed gains to hit a fresh two-year high above $87 on Tuesday, erasing earlier losses, as commodities rallied across the board. U.S. crude oil futures hit $87.63 a barrel, the highest since October 2008, and were trading 16 cents higher at $87.23 by 1454 GMT. ICE Brent was 16 cents higher at $88.62.
- 09Nov
(Reuters) - President Barack Obama said the Group of 20 nations still had a lot of work to do on the world economy and had not yet achieved a framework for balanced growth. Obama's comments, after a meeting with the president of G20 member Indonesia in Jakarta on Tuesday, came as China criticized U.S. easy money policies and warned two days before a G20 leaders summit that Washington could destabilize the global economy and inflate asset bubbles.
- 08Nov
(Reuters) - Investors have asked FrontPoint to return about half of its healthcare portfolios' assets, or about $750 million, after the fund and its top manager became embroiled in an insider trading case, a source familiar with the matter said on Monday. The Greenwich, Connecticut-based hedge fund firm has also extended the redemption deadline to December 1 from November 15 to receive money back on December 31, FrontPoint's two chief executive officers told their investors late last week.
- 08Nov
(Reuters) - The top U.S. securities regulator said the agency is in the process of laying out a plan to make markets more stable following the May "flash crash" and is zeroing in on trading algorithms that "go crazy." The Securities and Exchange Commission must deal with computerized trading code that disrupts the marketplace, Chairman Mary Schapiro told the Securities Industry and Financial Markets Association annual conference on Monday. "We hope this will lead to a more stable marketplace."
- 08Nov
(Reuters) - Amazon.com (AMZN.O) said on Monday it plans to acquire the owner of online shopping sites Diapers.com and Soap.com for $500 million. The deal has been approved by shareholders of the smaller company, Quidsi Inc, which will continue to operate independently under its current leadership team.
- 08Nov
(Reuters) - Chrysler Group LLC posted a narrower quarterly loss on Monday and said it was on track to be profitable in 2010 after financing costs, helped by a rebound in sales. Chrysler was on the brink of liquidation in 2009 before a U.S. government-funded bankruptcy slashed its operating costs and gave majority ownership to a union-affiliated trust fund and management control to Fiat SpA (FIA.MI).
- 08Nov
(Reuters) - Oil prices touched two-year highs of $87.49 a barrel on Monday before easing toward $86 a barrel as a stronger dollar led some investors to reduce their positions. By 1406 GMT, U.S. crude for December delivery shed 40 cents to $86.45 a barrel. ICE Brent was 41 cents lower at $87.70 a barrel.
- 05Nov
(Reuters) - The S&P 500 rose on Friday as banking stocks surged following reports in the last session that the Federal Reserve would allow some stronger banks to increase dividend payments. The Dow Jones industrial average .DJI gained 4.88 points, or 0.04 percent, to 11,439.72. The Standard & Poor's 500 Index .SPX rose 4.74 points, or 0.39 percent, to 1,225.80. The Nasdaq Composite Index .IXIC added 1.83 points, or 0.07 percent, to 2,579.17.
- 05Nov
(Reuters) - U.S. employment jumped by much more than expected last month as private companies hired workers at the fastest pace since April, a sign the sluggish economy is finally starting to tick up. Nonfarm payrolls rose a solid 151,000 in October, the first gain since May, a government report showed on Friday. Private hiring rose by 159,000, while the government cut 8,000 jobs.
- 05Nov
(Reuters) - Shares in BP (BP.L) gained on Friday, with traders citing talk that Exxon Mobil (XOM.N) was considering a bid for the oil company. By 10:29 a.m. EDT, BP shares were up 1.1 percent at 450 pence, having hit an intraday high of 451.35 pence on the rumor.
