Wall St posts biggest 3-day surge in three months
NEW YORK (Reuters) – Wall Street closed its best three-day run in three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.
June 30, 2011
AMR talking with Boeing, Airbus for 250 planes: report
(Reuters) – AMR Corp’s American Airlines is negotiating with aircraft makers Airbus and Boeing Co to replace its entire domestic fleet by purchasing at least 250 airplanes in a deal valued at about billion, the Wall Street Journal reported.
Asia looks to "friend" Lagarde to honor IMF pledges
SINGAPORE (Reuters) – Asia’s fast-rising economies set their sights on securing key IMF posts under new chief Christine Lagarde, hopeful she would be the one to make good on oft-heard pledges to give more power to emerging markets.
Moody’s warns may downgrade U.S. muni debt ratings
NEW YORK (Reuters) – Moody’s on Wednesday warned it may downgrade some Aaa-rated U.S. states and municipalities if the country loses its top-notch rating or if federal funding falls significantly as part of a plan to reduce the nation’s deficit.
LSE, TMX abort their merger, leaving both in play
TORONTO/LONDON (Reuters) – The London Stock Exchange’s C.6 billion (.7 billion) plan to buy its Toronto counterpart collapsed on Wednesday in the face of a competing bid led by Canadian banks, leaving the UK exchange itself vulnerable to takeover.
Bank of America expects loss after settlement
CHARLOTTE, N.C./NEW YORK (Reuters) – Bank of America Corp said it expects to take more than billion of charges after settling with mortgage bond investors, resulting in a second-quarter loss.
Exclusive: Lilly CEO defends R&D spending
WASHINGTON (Reuters) – Eli Lilly and Co is committed to spending what it takes to come up with innovative drugs over the long term, its chief executive said, even though the company’s earnings are expected to tumble over the next three years.
Paulson gets more time for bankrupt hotel payoffs
NEW YORK (Reuters) – Hedge fund Paulson & Co. has more time to increase the payout on a group of U.S. luxury resort hotels it owns after bankruptcy court gave it an extension on Wednesday.
U.S. must hike debt limit soon to avoid "shock": IMF
WASHINGTON (Reuters) – The International Monetary Fund on Wednesday pressed U.S. lawmakers to quickly lift the government’s borrowing limit to avoid a “severe shock” to global markets and a still-fragile economic recovery.
June auto sales seen up slightly
DETROIT (Reuters) – Fewer cars on dealer lots and higher prices — factors that led to disappointing U.S. auto sales in May — look to hold June results in check.