Daily news

Daily Business news, Financial news & World news

A one-page proposal gaining traction in Congress could turn back the clock on Wall Street 10 years, forcing the breakup of banks, including Citigroup Inc.

Read the original here:
Reviving Glass-Steagall Means Escalating ‘War’ on Wall Street

LONDON (Reuters) – Oil rose more than $1 and broke above $55 a barrel on Wednesday, bouncing up from moribund early trade around $54 after data showed U.S. private sector job losses had slowed in April.

Read the original:
Oil breaks above $55 on jobs data

WASHINGTON/NEW YORK (Reuters) – Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, an industry source familiar with results of a government stress test said late on Tuesday.

Read the rest here:
BofA and Citi need capital as stress tests results loom

NEW YORK (Reuters) – Wall Street was poised for a higher open on Wednesday as encouraging signs about the job market offset renewed concern about the health of banks after a source told Reuters stress tests show Bank of America has a $34 billion capital shortfall.

More:
Wall Street to open higher after encouraging data

NEW YORK (Reuters) – U.S. private sector job losses slowed in April, according to a report by ADP Employer Services on Wednesday, hitting their lowest since November last year and surprising economists who had expected a much worse result.

Credit:
U.S. private sector job losses at 5-month low

NEW YORK (Reuters) – U.S. private sector job losses slowed in April, coming in below economists’ expectations, according to a report by ADP Employer Services on Wednesday.

See the original post:
U.S. private sector job losses slow in April

NEW YORK (Reuters) – Stock index futures turned positive on Wednesday after better-than-expected data on private-sector employment.

More:
Stock futures turn positive on ADP data

NEW YORK (Reuters) – Marsh & McLennan Cos Inc , the second-largest global insurance broker, posted a first-quarter profit on Wednesday, reversing a year-earlier loss, as lower costs helped offset a decline in revenue.

Read more here:
Marsh & McLennan posts profit

LONDON (Reuters) – Bank of America needs $34 billion in extra cash, a source familiar with U.S. government stress tests on leading banks told Reuters, unsettling markets and stoking talk of a possible asset sale in China.

Go here to read the rest:
BofA and Citi shares sink on stress test worries

LONDON (Reuters) – Oil held above $54 a barrel on Wednesday, supported by news of an unexpected fall in U.S. crude and gasoline stocks, but gains were limited by persistent uncertainty about any economic recovery.

Here is the original post:
Oil steadies above $54 ahead of EIA data

NEW YORK (Reuters) – Stock futures pointed to a lower open on Wednesday on concern about the health of banks after a source said government stress test results show Bank of America needs as much as $34 billion in capital.

More:
Bank jitters weigh on stock futures

BOSTON/NEW YORK (Reuters) – The Boston Globe’s biggest union reached a tentative accord early on Wednesday with owner New York Times Co to secure the money-losing newspaper’s survival after a month of intense negotiations.

Here is the original post:
Boston Globe union, NY Times reach accord

(Reuters) – Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.2-0.4 percent at 0902 GMT, pointing to a lower start on Wall Street.

View post:
Stock index futures point to lower Wall Street open

STOCKHOLM (Reuters) – Sweden’s Saab Automobile, owned by ailing U.S. auto maker General Motors , would welcome talks with Italy’s Fiat about a takeover, Saab said on Wednesday.

See the original post:
GM’s Saab says would welcome talks with Fiat

ZURICH (Reuters) – Adecco , the world’s biggest staffing firm said on Wednesday it was bracing for challenging conditions in the short term as it posted an 83 percent drop in first-quarter net profit, beating forecasts.

More:
Adecco says tough market ahead as profit falls