HOUSTON (Reuters) - White House economic adviser Larry Summers said on Thursday that the United States is "very close" to the point where job growth can begin. (Reporting by Chris Baltimore; editing by Carol Bishopric)
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WASHINGTON (Reuters) - President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.
Yellen would replace Donald Kohn, a 40-year veteran of the Fed who announced ...More
NEW YORK (Reuters) - It's enough to make a mining executive grit his teeth or his kids to give him the silent treatment.
In a case of art imitating life -- with perhaps a little poetic license -- Oscar-winning movie "Avatar" paints big mining companies as the villains of the future.
But ...More
DETROIT/WASHINGTON (Reuters) - Unprecedented discounts after a series of damaging recalls boosted Toyota Motor Corp's U.S. sales in early March, as U.S. regulators weighed new auto safety measures.
Toyota's U.S. sales surged by nearly 50 percent in the first eight days of March compared with ...More
NEW YORK (Reuters) - Lehman Brothers Holdings Inc used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found.
In a 2,200-page report made public on Thursday, examiner Anton Valukas, chairman of law ...More
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp's <BAC.N> push into the competitive realm of managing retirement assets is paying early dividends.
The bank's retirement business is winning more 401(k) plan business from its large corporate clients in a major initiative, Chief Executive Brian Moynihan said ...More
WASHINGTON (Reuters) - Lingering U.S. labor market weakness and nagging doubts about the solidity of the economic recovery are expected to keep the Federal Reserve committed to holding borrowing costs very low for a long time at a monetary policy meeting next week.
The Fed -- the U.S. central bank ...More
NEW YORK (Reuters) - Citigroup Inc <C.N> Chief Executive Vikram Pandit told investors on Thursday the bank is on track to return to sustained profitability and losses from some of its worst assets should be manageable if the economy does not deteriorate.
The comments were uncharacteristically optimistic for Pandit. The ...More
NEW YORK (Reuters) - Two years ago, a poisonous brew of bad economics, lax regulation, and egregious behavior boiled over, scalding the financial system and pitching the United States into its steepest downturn since the Great Depression.
The antidotes to the crisis, concocted by many of the players who stirred the ...More
BOCA RATON, Florida (Reuters) - The head of the top U.S. futures regulator chided Wall Street on Thursday for resisting calls to make over-the-counter derivatives markets more transparent, arguing major reforms are required after the recent financial crisis.
Laying out his case for more oversight of the unregulated market he ...More
