Mar

S&P 500 hits 17-month high as banks lift Wall St

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NEW YORK (Reuters) - The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.

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Mar

Asia stocks dip on China tightening fears, yen up

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SINGAPORE (Reuters) - Asian stocks fell on Thursday as investors worried strong loan growth and quickening inflation in China would spur Beijing to tighten monetary policy sooner than expected, while the yen rebounded against major currencies.

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Mar

Best Buy bets on 3D TV, but no quick payoffs seen

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NEW YORK (Reuters) - While James Cameron’s 3D sci-fi epic “Avatar” took the box office by storm instantly, the road to success will be much longer for Best Buy Co Inc, which is making a big bet on 3D televisions this year.

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Mar

Geithner urges reform on housing finance market

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WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday that “fundamental reform” of the government’s role in the housing finance market is needed and it will be next year before proposals are ready for Congress.

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Mar

Bets on economy lift Wall Street; banks, tech lead

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NEW YORK (Reuters) - Bank and technology shares lifted Wall Street on Wednesday on hopes a revival in business demand will boost corporate profits.

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Mar

China’s Geely secures financing to buy Volvo: report

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STOCKHOLM (Reuters) - The parent of China’s Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.

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Mar

Euro hurt by European woes; China data boosts oil

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HONG KONG (Reuters) - The euro and sterling were under pressure on Wednesday after renewed concerns about Europe’s fiscal problems but oil, copper and the Australian dollar were supported by China’s strong export and import data.

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Mar

AIG devises new formula for employee bonuses: report

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(Reuters) - American International Group Inc has formulated a new “forced ranking” system to determine bonuses and rate employee performance, Wall Street Journal said, citing people familiar with the matter.

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Mar

Cisco leapfrogs rivals with faster router

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NEW YORK (Reuters) - Cisco Systems Inc introduced its first major new routers in six years and said they can be configured to handle Internet traffic up to 12 times faster than rival products.

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Mar

Toyota seeks to block executive testimony in suit

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DETROIT (Reuters) - Toyota Motor Corp has asked a Michigan appeals court to intervene to keep its top two U.S. executives from being grilled by lawyers for the family of a woman killed while driving a Camry in 2008.