BUSINESS

Jan trade gap narrows unexpectedly due to oil Posted 5 minutes ago

WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in January as oil imports fell to their lowest since February 1999, a government report showed on Thursday. The trade gap shrank 6.6 percent to $37.3 billion, the Commerce Department said. U.S. exports declined, but not as much ...More

New jobless claims fall, continued claims up Posted 30 minutes ago

WASHINGTON (Reuters) - The number of U.S. workers filing new applications for unemployment insurance fell slightly less than expected last week, a government report showed on Thursday, hinting at a slow labor market recovery. Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 462,000 in ...More

Foreclosures drop for 2nd month in February: RealtyTrac Posted 1 hour, 41 minutes ago

NEW YORK (Reuters) - U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed. Foreclosures are by far one of the biggest threats to the U.S. housing ...More

Airlines recovering strongly, still in red: IATA Posted 4 hours, 13 minutes ago

An aircraft flies past the moon over Anterselva

GENEVA (Reuters) - Airlines are recovering strongly from the crisis, as passengers, freight and pricing power return, the airline industry association IATA said on Thursday, halving its forecast for a 2010 loss. With capacity for both passengers and cargo hitting record levels at the end of last year, all indicators are ...More

U.S. warns EU of rift over fund regulation: report Posted 5 hours, 1 minute ago

BRUSSELS (Reuters) - U.S. Treasury Secretary Tim Geithner has written to the European Commission warning that plans to regulate hedge funds and private equity firms could cause tensions with Washington, the Financial Times reported. Citing a letter but not quoting from it directly, the Financial Times said Geithner wrote to ...More

HSBC says Swiss data theft affects 24,000 accounts Posted 5 hours, 3 minutes ago

LONDON/GENEVA (Reuters) - HSBC <HSBA.L>, Europe's biggest bank, said a theft of data by a former employee affected up to 24,000 Swiss client accounts, dealing a hefty blow to the reputation of its private bank. Switzerland's financial regulator FINMA was investigating the theft, it said on ...More

EADS sees no financial hit from U.S. tanker loss Posted 5 hours, 53 minutes ago

PARIS (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 <EAD.PA> finances, the European aerospace group's chief executive said on Thursday. On Monday EADS's U.S. partner Northrop Grumman <NOC.N> dropped ...More

BP to pay Devon $7 billion for oil fields Posted 6 hours, 46 minutes ago

A British Petroleum sign is seen at a petrol station in south London

LONDON (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. The companies said on Thursday that BP has also agreed to sell Devon a 50 percent ...More

Toyota hands over 2006 dissident memo to U.S. panel Posted 7 hours, 11 minutes ago

By Chang-Ran Kim, Asia autos correspondent TOKYO (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. On Monday, Rep ...More

Toyota unit Daihatsu recalls over 274,000 vehicles Posted 7 hours, 18 minutes ago

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