Reuters: Business News

Wall Street set for flat open with eyes on Greece

Wed, 10 Feb 2010 09:08:38 -0500

NEW YORK (Reuters) - Wall Street was set for a flat open on Wednesday with equity markets sensitive to comments from European officials as to whether a rescue plan for heavily indebted Greece was in the works.

Euro zone holds intensive talks about Greek rescue

Wed, 10 Feb 2010 08:41:04 -0500

BERLIN/ATHENS (Reuters) - Euro zone countries were holding intensive talks on Wednesday about a possible financial rescue for debt-stricken Greece as civil servants staged the first major strike against Athens' crisis-driven austerity plan.

Trade gap rises in December to $40.2 billion

Wed, 10 Feb 2010 09:01:54 -0500

WASHINGTON (Reuters) - The U.S. trade deficit widened unexpectedly in December to $40.2 billion, fueled by the highest oil prices and oil imports since October 2008, the Commerce Department said on Wednesday.

Honda expands airbag recall as more Toyotas probed

Wed, 10 Feb 2010 08:36:21 -0500

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis.

New York Times profit beats on cost cuts

Wed, 10 Feb 2010 09:13:34 -0500

NEW YORK (Reuters) - The New York Times Co posted a better-than-expected quarterly profit on Wednesday as it benefited from slashing operating costs to counter a decline in advertising revenue at its newspapers.

Sprint loss narrows but revenue misses expectations

Wed, 10 Feb 2010 08:44:32 -0500

NEW YORK (Reuters) - Sprint Nextel Corp's fourth-quarter revenue fell 7 percent and missed Wall Street expectations as the No. 3 U.S. mobile service offered more price discounts to curb subscriber losses.

Wyndham profit beats estimates; triples dividend

Wed, 10 Feb 2010 08:28:08 -0500

NEW YORK (Reuters) - Wyndham Worldwide Corp , franchiser of Days Inn, Ramada and Super 8 hotels, posted better-than-expected quarterly profit on Wednesday and said it was tripling its quarterly dividend.

Home loan demand drops despite drop in rates

Wed, 10 Feb 2010 08:11:30 -0500

NEW YORK (Reuters) - U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, data from an industry group showed on Wednesday.

Discovery profit up with international business

Wed, 10 Feb 2010 08:15:53 -0500

NEW YORK (Reuters) - Discovery Communications Inc reported a 46 percent jump in fourth-quarter profit on the back of strong distribution revenue and advertising sales in its international TV business.

Oil rises above $74 on dollar weakness

Wed, 10 Feb 2010 06:31:51 -0500

LONDON (Reuters) - Oil rose above $74 a barrel on Wednesday, bouncing from earlier losses, as the euro extended gains against the dollar on hopes for a bailout for Greece.