FOX News: Business
FOXBusiness.com - Breaking news and video. Latest Current News: News, Investing, Technology, Personal Finance, Business Leaders, Travel, On Air, Small Business.
Updated: 36 min 49 sec ago
Treasury prices trimmed losses Wednesday after data showed construction on new homes missed expectations.
Rebounding from a tough winter, construction on new U.S. homes in March hit the fastest pace in three months, rising 2.8% to a seasonally adjusted annual rate of 946,000, led by single-family homes, the U.S. Commerce Department reported Wednesday.
U.S. Bancorp (USB) said its first-quarter earnings fell 2.2% as the regional lender posted weaker mortgage banking revenue.
Abbott Laboratories Inc reported better-than-expected quarterly earnings, but sales came in slightly below Wall Street expectations.
Gold prices steadied on Wednesday after falling nearly 2 percent in the previous session, underpinned by escalating tensions in Ukraine but still under pressure from a weak chart picture and concerns over a slowdown in Chinese demand.
Bond insurer Financial Guarantee Insurance Co said it had reached an agreement with Bank of America Corp to settle litigation related to nine second-lien residential mortgage-backed securitizations FGIC had insured.
British luxury goods group Burberry shrugged off industry jitters about slowing growth in China to post a 19 percent rise in second-half revenue, reiterating that the greatest risk to its profits was the strengthening pound.
Bank of America Corp. reported Wednesday its first-quarter net loss of $276 million, or 5 cents per share, compared with $1.5 billion, or 10 cents per share, in the same period the year before.
Virtualization software maker VMware Inc said it plans to invest $500 million in India over the next three years to expand its operations.
Bank of America Corp posted a first-quarter loss as the No.
The world's once biggest bitcoin exchange is likely to be liquidated after a Tokyo court dismissed a bit to resuscitate the business.
The No. 2 U.S. bank posted a 1Q loss and recorded $6 billion in litigation expenses related to an FHFA settlement and other mortgage-related matters.
BTC China, one of the country's leading digital currency exchanges, has installed China's first bitcoin ATM and launched an online app allowing individuals to buy and sell bitcoins using mobile phones, skirting local banking regulations seen as increasingly hostile to so-called crypto-currencies.
A round of better-than-expected GDP data from China helped alleviate worries the world's No. 2 economy could be in for a hard landing, sending shares higher.
The unemployment rate in the U.K. fell to 6.9% in the three months to February, beating expectations of a 7.1% print, according to data from the Office for National Statistics released on Wednesday.
Japan's Chief Cabinet Secretary Yoshihide Suga said on Wednesday that Japanese share price decline in April has not been significant.
European stock markets moved sharply higher at the open on Wednesday, with resource firms posting some of the biggest gains after better-than-expected growth data from China.
China's economic growth in the first quarter was within range, and the employment situation remained stable and inflation under control, the statistics bureau said on Wednesday.
A suspect was taken into custody Tuesday night after two backpacks were found unattended at the Boston Marathon finish line, according to CBS News.