New York - US stocks posted strong gains on Wednesday as most companies that reported profits for the first quarter beat estimates on the day, drowning out reports of a sharp contraction in the US economy over the first three months.
Time Warner Inc, Goodyear Tire & Rubber Co, DreamWorks Animation SKG Inc and Hess Corp all beat analysts' expectations, offering some hope that the worst may be over and driving all major US stock indices up by more than 2 per cent.
New York - New York state officials Wednesday downplayed the fact that New York has the highest total of confirmed cases of swine flu among ten US states, saying the situation was inexplicable - even as health workers were investigating 75 more probable cases and some schools remained closed.
New York Governor David Paterson and his health commissioner, Richard Daines, who said the state currently has no vaccine designed for swine flu, said they did not consider the swine flu outbreak any more important than unseasonal flu in springtime.
New York - At least six of the 19 largest US banks need more capital to remain healthy through the recession, according to leaked information from the two-month stress test carried out by the nation's bank regulators, Bloomberg financial news service reported Wednesday.
The infusions could come from extra cash injections from the government, but more likely from converting preferred shares to common equity, the report said, citing people close to the situation.
New York - UN Secretary General Ban Ki-moon on Wednesday urged the UN Security Council to join the international community in efforts to deal with the swine flu, which has spread to four continents.
Ban said the UN has taken the lead and gathered resources to fight the flu, working with the World Health Organization and governments. At UN headquarters, Ban's deputy secretary-general Asha-Rose Migiro is chairing a core group of UN officials to coordinate activities with WHO in Geneva.
New York - Profits at Time Warner media enterprise dropped 14 per cent in its fiscal first quarter as revenues were hit by an advertising slump and lower sales of DVDs.
The world's largest media company said that it earned 661 million dollars compared to 771 million dollars in the same quarter a year ago.
Revenue fell 7 per cent to 6.95 billion dollars. However the financial results beat Wall Street's expectations and the company's shares rose sharply in early trading Wednesday.
New York, Apr 29: The United States is increasing its troops in Helmand, Kandahar and Zabul provinces in order to cut off the Taliban’s main source of money, Afghanistan’s multimillion-dollar opium crop.
The plan to send 20,000 marines and soldiers into these three Afghan provinces this summer promises weeks and perhaps months of heavy fighting, since American officers expect the Taliban to vigorously defend what makes up the economic engine for the insurgency, The New York Times reports.
New York - US stocks posted strong gains on Wednesday as most companies that reported profits for the first quarter beat estimates on the day, drowning out reports of a sharp contraction in the US economy over the first three months.
New York - New York state officials Wednesday downplayed the fact that New York has the highest total of confirmed cases of swine flu among ten US states, saying the situation was inexplicable - even as health workers were investigating 75 more probable cases and some schools remained closed.
New York - At least six of the 19 largest US banks need more capital to remain healthy through the recession, according to leaked information from the two-month stress test carried out by the nation's bank regulators, Bloomberg financial news service reported Wednesday.
New York - UN Secretary General Ban Ki-moon on Wednesday urged the UN Security Council to join the international community in efforts to deal with the swine flu, which has spread to four continents.
New York - Profits at Time Warner media enterprise dropped 14 per cent in its fiscal first quarter as revenues were hit by an advertising slump and lower sales of DVDs.
New York, Apr 29: The United States is increasing its troops in Helmand, Kandahar and Zabul provinces in order to cut off the Taliban’s main source of money, Afghanistan’s multimillion-dollar opium crop.
