Latest business news
Asia stocks dip on China tightening fears, yen up
11 Mar 2010 at 1:05amSINGAPORE (Reuters) - Asian stocks fell on Thursday as investors worried strong loan growth and quickening inflation in China would spur Beijing to tighten monetary policy sooner than expected, while the yen rebounded against major currencies.
BP to pay Devon $7 billion for oil fields
11 Mar 2010 at 2:03amLONDON (Reuters) - London-based oil major BP has agreed to buy Brazilian, Azeri and Gulf of Mexico assets from Devon Energy for $7 billion, as the U.S. producer refocuses on onshore U.S. fields.
Geithner urges reform on housing finance market
10 Mar 2010 at 5:10pmWASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that "fundamental reform" of the government's role in the housing finance market is needed and it will be next year before proposals are ready for Congress.
EADS sees no financial hit from U.S. tanker loss
11 Mar 2010 at 2:07amPARIS (Reuters) - The apparent loss this week of a U.S. in-flight refueling tanker contract worth up to $50 billion will not affect EADS's finances, the European aerospace group's chief executive said on Thursday.
Senate passes $149 billion for jobless aid
10 Mar 2010 at 10:45pmWASHINGTON (Reuters) - The Senate on Wednesday passed a $149 billion package of jobless aid and tax breaks, as Democrats continued efforts to lower the 9.7 percent unemployment rate before congressional elections in November.
Toyota hands over 2006 dissident memo to U.S. panel
11 Mar 2010 at 1:04amTOKYO (Reuters) - Toyota Motor said on Thursday it has handed over to a U.S. congressional committee a letter sent to its management by a splinter union in 2006 seeking reforms to improve safety after a recall crisis at the time.
U.S. dollar still rules, but debt level a risk: S&P
11 Mar 2010 at 1:04amNEW YORK (Reuters) - The U.S. dollar is still the most important world currency, Standard & Poor's said on Thursday, but added that rising levels of U.S. debt and dependence on foreigners to finance much of pose risks to the currency's primacy.
U.S. bailout watchdog criticizes Treasury over GMAC
11 Mar 2010 at 1:03amWASHINGTON (Reuters) - The U.S. Treasury's decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an oversight group said on Thursday.
Toyota unit Daihatsu recalls over 274,000 vehicles
11 Mar 2010 at 12:42amTOKYO (Reuters) - Daihatsu Motor Co , a unit of Toyota Motor Corp , said on Thursday it would recall more than 274,000 Hijet and Atrai wagon models in Japan to fix a loose knuckle joint in the front wheels.
Best Buy bets on 3D TV, but no quick payoffs seen
10 Mar 2010 at 6:03pmNEW YORK (Reuters) - While James Cameron's 3D sci-fi epic "Avatar" took the box office by storm instantly, the road to success will be much longer for Best Buy Co Inc, which is making a big bet on 3D televisions this year.
