 HONG KONG (Reuters) - HSBC Holdings plc has agreed to sell its U.S. credit card and retail services unit to Capital One Financial Corp for a premium of about $2.6 billion, as Europe's top bank streamlines its mammoth operations by shedding non-core businesses. | |
 SINGAPORE (Reuters) - Gold ticked higher on Wednesday, hovering near a lifetime high around $1,778 an ounce struck in the previous session, but further gains could be capped by a rebound in equities after the U.S. Federal Reserve's vow to keep rates near zero. | |
| Brent rises above $105 on Fed vow of low interest rates Tue,9 Aug 2011 09:17 PM PDT Reuters - SINGAPORE (Reuters) - Brent crude rose $3 on Wednesday after the U.S. Federal Reserve's promise to extend near-zero interest rates for two more years weighed on the dollar and helped reverse a steep slump in oil. Full Story | |
| Prosecutors seek as much as 24-1/2 years for Rajaratnam Tue,9 Aug 2011 06:49 PM PDT Reuters - NEW YORK (Reuters) - Prosecutors asked a federal judge to sentence Raj Rajaratnam to as much as 24-1/2 years in prison, calling the Galleon Group hedge fund founder "arguably the most egregious violator" of insider trading laws ever to be caught. Full Story | |
| Universal sets limited re-release of "Scarface" Tue,9 Aug 2011 05:57 PM PDT Reuters - LOS ANGELES (TheWrap.com) - One of the worst Cuban accents in cinematic history is returning to the big screen. On August 31, "Scarface" will be in more than 475 movie theaters nationwide. Full Story | |
| Newsweek's Michelle Bachmann cover unlikely to boost sales Tue,9 Aug 2011 05:55 PM PDT Reuters - NEW YORK (TheWrap.com) - Ever the provocateur, Newsweek editor-in-chief Tina Brown has raised eyebrows once again with her latest magazine cover, this one featuring an unflattering shot of presidential aspirant Michele Bachmann. Full Story | |
| S&P balks at SEC proposal to reveal rating errors Tue,9 Aug 2011 05:11 PM PDT Reuters - WASHINGTON (Reuters) - Standard & Poor's, whose unprecedented downgrade of U.S. debt triggered a worldwide stocks sell-off, is pushing back against a U.S. government proposal that would require credit raters to disclose "significant errors" in how they calculate their ratings. Full Story | |
 WASHINGTON (Reuters) - The Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years and said it would consider further steps to help growth, sparking a rebound in stocks. | |
 LOS ANGELES (Reuters) - Walt Disney Co's quarterly results surpassed cautious Wall Street expectations, but the media and entertainment giant now has to grapple with an uncertain outlook for consumer spending. | |
 SAN FRANCISCO/NEW YORK (Reuters) - Apple Inc briefly edged past Exxon Mobil Corp to become the most valuable U.S. company on Tuesday, displacing an old economy stalwart and heralding an era where technology holds sway. | |
| Rajaratnam seeks leniency after insider conviction Tue,9 Aug 2011 04:25 PM PDT Reuters - NEW YORK (Reuters) - Raj Rajaratnam, the Galleon Group hedge fund founder convicted of insider trading in May, asked a federal judge to impose a sentence "substantially below" what U.S. guidelines recommend, saying a long prison term would be tantamount to a death sentence. Full Story | |
| Echoes of 2008 crisis met with dull bailout tools Tue,9 Aug 2011 03:55 PM PDT Reuters - WASHINGTON (Reuters) - Extreme market volatility has sparked comparisons to the 2008 global credit crisis, but Washington's ability to help out weak financial firms is dramatically different. Full Story | |
| Analysis: Fed hawks shriek on sidelines, doves carry day Tue,9 Aug 2011 03:52 PM PDT Reuters - WASHINGTON (Reuters) - So much for the vaunted Federal Reserve consensus.Full Story | |
| NEW YORK (Reuters) - Gold rallied for a second day on Tuesday, hitting a record high early, then churning until it finally settled more than 1 percent higher after the Federal Reserve boosted Wall Street with a plan to keep U.S. rates low. | |
| Oil rebounds with Wall Street as Fed soothes Tue,9 Aug 2011 02:38 PM PDT Reuters - NEW YORK (Reuters) - Oil pulled out of its dive on Tuesday in volatile trading as the Federal Reserve promised to extend near-zero interest rates for two more years, fueling a late Wall Street rally and dollar slump. Full Story |
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