European finance ministers on Tuesday took one step further in finalizing an agreement on a joint mechanism to deal with failing banks, despite visible divisions among member countries over the key measures of the plan. Though the ministers failed to arrive at a precise agreement on Tuesday's meeting, they appeared keen to finalize the banking resolution plan before the EU leaders meeting.
CytRx Corp. (CYTR) will issue a news release at 8:00 a.m. Eastern time tomorrow announcing top-line results of its global phase 2b clinical trial comparing its experimental Aldoxorubicin as a first-line treatment for advanced soft tissue sarcomas versus the widely used chemotherapeutic agent Doxorubicin.
Rep. Paul Ryan (R-Wisconsin) and Senator Patty Murray (D-Washington) stood side by side on Tuesday evening in Washington D.C. as they announced the details of a bipartisan budget agreement that would fund the United States government for the next two fiscal years.
The deal comes after intensive negotiations...
H&R Block Inc., the largest US tax preparer, on Tuesday reported a wider second quarter loss than analysts estimated, as revenue declined 2%.
The company's quarterly revenue also came in below analysts' expectations.
Stocks saw modest weakness throughout much of the trading day on Tuesday, partly offsetting the strength seen in the two previous sessions. Selling pressure was relatively subdued, however, limiting the downside for the markets. The major averages pulled back going into the close, ending the day moderately lower.
After years of debate, federal regulators have voted to approve the final version of a rule designed to prevent federally insured banks from engaging in risky trading. The final rules prohibit banks from engaging in short-term proprietary trading of certain securities, derivatives, commodity futures and options on these instruments merely for profit.
U.S. crude oil moved up sharply to end at a near six-week high Tuesday, after some recent upbeat economic data lifted investor sentiments even as the dollar weakened against a basket of major currencies. Investors also anticipate U.S. crude oil stockpiles to drop for a second straight week, easing concerns...
After last month's controversial move to change the filibuster rules for most presidential nominations, the Senate voted Tuesday to approve Patricia Millett's nomination to be a judge on the U.S. Appeals Court for the D.C. Circuit.
The Senate voted 56 to 38 in favor of Millett's nomination, with Republican Sens. Susan Collins, R-Me., and Lisa Murkowski, R-Ak., joining with most Democrats.
Gold futures surged to end at a three-week high Tuesday, as investors opted for the safe haven appeal of the precious metal while tracking declining global equity markets. The dollar trended lower against a basket of some major currencies with commodities firming even as worries the U.S. Federal Reserve...
President Barack Obama on Tuesday joined scores world leaders at the official memorial service in honor of former South African President Nelson Mandela. A vociferous crowd braving rain paid tribute to Mandela, whom they affectionately call 'Madiba,' by dancing and singing in FNB stadium in Johannesburg.
After moving to the downside at the open, stocks continue to see modest weakness in mid-day trading on Tuesday. Selling pressure has remained relatively subdued, however, limiting the downside for the broader markets. The major averages are currently posting modest losses, near their worst levels of the day.
Wholesale inventories in the U.S. rose by much more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said wholesale inventories jumped by 1.4 percent in October following an upwardly revised 0.5 percent increase in September. Economists had been expecting inventories to increase by about 0.4 percent.
While selling pressure has remained subdued, stocks are seeing modest weakness in early trading on Tuesday. The major averages have dipped into negative territory, partly offsetting the gains posted over the past two sessions. Currently, the major averages are posting modest losses but are off their lows for the young session.
Automaker General Motors Co. announced Tuesday the promotion of Mary Barra as new chief executive officer of the company. Barra will succeed Dan Akerson, who will step down as chairman and CEO on January 15, 2014. Barra will also join the GM Board. Meanwhile, the GM Board named Theodore Solso to succeed Akerson as chairman.
After ending the previous session modestly higher, stocks are likely to move back to the downside in early trading on Tuesday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 44 points.