Latest business news
Wall Street pares losses, recovery stays anemic
30 Jul 2010 at 11:12amNEW YORK (Reuters) - Stocks eased slightly on Friday, but for the second day in a row major indexes bounced off session lows, this time on a positive report on Midwest manufacturing activity.
Imports slow second-quarter growth
30 Jul 2010 at 12:12pmWASHINGTON (Reuters) - Economic growth slowed in the second quarter as companies invested heavily in equipment from abroad and the pace of consumer spending eased, raising concerns about the recovery in the rest of 2010.
Cuomo widens insurer probe with 6 more subpoenas
30 Jul 2010 at 12:07pmNEW YORK (Reuters) - New York Attorney General Andrew Cuomo has subpoenaed six additional insurers as the state widens a probe into possible fraud in the life insurance industry.
Goldman employees still enamored with firm and CEO
30 Jul 2010 at 12:30pmNEW YORK (Reuters) - Goldman Sachs Group Inc is the bank many Americans love to hate, but one group just plain loves it: its employees.
Chevron earnings triple
30 Jul 2010 at 12:03pmNEW YORK/SAN FRANCISCO (Reuters) - Chevron Corp, the second-largest U.S. oil company, posted three-fold profit growth that beat estimates as refinery margins improved, and raised its 2010 oil and gas production growth target to 3 percent.
Merck pares 2010 forecast, despite beat in quarter
30 Jul 2010 at 12:21pmNEW YORK (Reuters) - Merck and Co issued a more cautious 2010 profit outlook on Friday and reported disappointing second-quarter sales of its vaccines and Singulair asthma drug, sending its shares down 2 percent.
Chrysler to keep Michigan plant open, add jobs
30 Jul 2010 at 11:23amDETROIT (Reuters) - Chrysler Group LLC will add a second shift to the Sterling Heights Assembly Plant near Detroit in early 2011 and keep that plant open beyond 2012, when it had been planned to shut, the company said on Friday.
China overtakes Japan as No.2 economy: FX chief
30 Jul 2010 at 8:40amBEIJING (Reuters) - China has overtaken Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty.
Aon quarterly profit rides high on acquisitions
30 Jul 2010 at 10:46amBANGALORE (Reuters) - Aon Corp , the world's largest insurance brokerage, reported a market-beating quarterly profit, driven by recent acquisitions that offset a drop in commissions.
Disney to sell Miramax for more than $660 million
30 Jul 2010 at 12:02pmLOS ANGELES/NEW YORK (Reuters) - Walt Disney Co has struck a deal to sell Miramax, the studio behind such films as "Trainspotting" and "No Country for Old Men," for more than $660 million to a group that includes construction magnate Ron Tutor and investment firm Colony Capital LLC.
