NEW YORK (Reuters) - The end of the Federal Reserve's program of purchasing $1.25 trillion of mortgage-backed securities at the end of March is a form of tightening monetary policy, the chief of the largest U.S. bond fund manager said on Tuesday.
Mohamed El-Erian, chief executive and co-chief ...More
NEW YORK (Reuters) - CIT Group Inc <CIT.N> reported a $1 billion loss in the fourth quarter on Tuesday, excluding one-time items and accounting adjustments, as the recently bankrupt commercial lender was hurt by high borrowing and credit costs.
The U.S. company said in a regulatory filing that it ...More
NEW YORK (Reuters) - Simon Property Group Inc <SPG.N> is weighing a higher bid for General Growth Properties Inc <GGP.N> after the No. 2 U.S. mall owner came up with a rival plan to emerge from bankruptcy as a standalone company, two sources familiar with the matter said ...More
LOS ANGELES (Reuters) - Video-rental chain Blockbuster Inc said on Tuesday for the first time it may need to file for bankruptcy protection after years of struggling to lessen its debt load.
The company's shares fell 10 cents to 30 cents in after-hours trade.
Blockbuster also said on Tuesday its ...More
NEW YORK (Reuters) - Wall Street's biggest banks could be broken up by the Congress in the coming year in an eventual reckoning over the financial meltdown of 2008, "Liar's Poker" author Michael Lewis said on Tuesday.
Lewis, promoting his latest book "The Big Short: Inside the Doomsday Machine ...More
WASHINGTON (Reuters) - Most House Democrats back President Barack Obama's plan to let tax cuts for the wealthy expire this year, though the proposal will face a battle in the Senate, the acting chief of the tax-writing panel in the House of Representatives said on Tuesday.
Tax cuts for all ...More
WASHINGTON (Reuters) - The new financial reform bill introduced in the Senate will likely be approved at the committee level next week, but its shape could change substantially once it comes before the full Senate and winning Republican support comes into play, analysts said on Tuesday.
The 1,336-page measure leaves ...More
TORONTO (Reuters) - Canadian lawmakers accused Toyota Motor Corp executives on Tuesday of waiting too long to inform the government of problems with faulty accelerators in some of the company's vehicles.
Separately, Canada's transport minister said his department would conduct an investigation into Toyota's actions, and would consider ...More
By Andrea Shalal-Esa
WASHINGTON (Reuters) - Boeing Co <BA.N> said on Tuesday it expects only modest growth in its space revenues over the next five years with commercial orders seen accounting for a growing share as government orders decline.
Government orders comprised about 90 percent of Boeing's space business ...More
SAN FRANCISCO (Reuters) - Intel Corp <INTC.O> shares jumped 4 percent on Tuesday on speculation that the world's top chip maker is preparing to release a positive estimate of its current-quarter earnings.
In January, Intel had forecast revenue and margins for the first quarter above Wall Street expectations, as ...More
