World News Center

IMF's Lipsky says moderate world recovery underway (Reuters)

September 5, 2010

Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.

Stocks rally as jobs data spurs optimism (Reuters)

September 5, 2010

Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.

Venezuela OKs payment for French retailer Casino (Reuters)

September 5, 2010

Reuters - Venezuelan President Hugo Chavez has approved a $690 million payment to French retailer Casino and other owners of a supermarket chain nationalized earlier this year, state media said on Saturday.

Taxpayers likely to face initial loss on GM IPO: sources (Reuters)

September 5, 2010

Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.

China tells state companies to explore Potash bid (Reuters)

September 5, 2010

Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.

Report: SEC Investigating canceled trades (AP)

September 5, 2010

AP - The Securities and Exchange Commission is looking into certain types of stock trade orders that could be distorting share prices and trading volume, according to The Wall Street Journal.

Summary Box: Unemployment rate rises to 9.6 pct (AP)

September 5, 2010

AP - UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.

Campbell reports Q4 profit rise on better margins (AP)

September 5, 2010

AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.

Trichet calls for united EU at the IMF (AFP)

September 5, 2010

AFP - European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund.

Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP)

September 5, 2010

AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.