ExxonMobil, the world's largest listed western energy group, on Monday followed the industry trend, as it reported a 23 per cent drop in fourth-quarter earnings on lower refining margins, even as its production increased nearly 2 per cent.
Morgan Stanley plans to boost its underperforming securities business by hiring several hundred traders over the next few years in an effort to close the gap with Wall Street rivals, according to James Gorman, the new chief executive.
Paulson claims Russia tried to foment Fannie-Freddie crisis
Russia proposed to China that the two nations should sell Fannie Mae and Freddie Mac bonds in 2008 to force the US government to bail out the giant mortgage-finance companies, former US Treasury secretary Hank Paulson has claimed.
WASHINGTON (Reuters) - The U.S. Senate on Thursday backed Ben Bernanke for a second four-year term running the Federal Reserve, the world's most powerful central bank, despite deep misgivings over his perceived policy missteps.
SEATTLE (Reuters) - Microsoft Corp posted a bigger-than-expected 60 percent jump in quarterly profit, helped by strong sales of Windows 7, and said it expected business technology spending to recover this year.
Obama pushes jobs, vows to fight on after tough year
WASHINGTON (Reuters) - President Barack Obama pushed job creation to the top of his agenda on Wednesday and vowed not to abandon his struggling healthcare overhaul after a political setback that raised doubts about his leadership.
DETROIT (Reuters) - Toyota Motor Corp shut down sales of its best-selling vehicles on Wednesday under pressure from the Obama administration to address a product safety crisis that threatens its image in its largest market.
Embattled Obama declares in speech, 'I don't quit'
WASHINGTON - Declaring "I don't quit," President Barack Obama fought to recharge his embattled presidency with a State of the Union vow to get jobless millions back to work and stand on the side of Americans angry at Wall Street greed and Washington bickering. Defiant despite stinging setbacks, he said he would fight on for ambitious overhauls of health care, energy and education.