Fed starts one-day meeting as markets eye rate cut
WASHINGTON (Reuters) - Federal Reserve policy-makers started a one-day meeting on Tuesday that was widely expected to end with Chairman Ben Bernanke's first interest rate cut.
Lehman net falls on writedowns
NEW YORK (Reuters) - Lehman Brothers Holdings Inc. posted a 3.2 percent decline in quarterly earnings on Tuesday as the U.S. investment bank wrote down mortgage and leveraged loan assets, but the results beat expectations and its shares jumped before the market opened.
Futures rise after Lehman tops estimates
NEW YORK (Reuters) - Stock index futures rose on Tuesday as Lehman Brothers Holdings Inc reported earnings that topped forecasts and investors anticipated a U.S. interest rate cut later in the session.
Producer prices dip 1.4 percent in Aug on energy
WASHINGTON (Reuters) - Producer prices fell by a much larger-than-expected 1.4 percent in August as energy prices slumped, government data showed on Tuesday, but a key measure of core inflation at the producer level rose slightly more than forecast.
Best Buy posts higher profit
ATLANTA (Reuters) - Consumer electronics retailer Best Buy Co reported a higher quarterly profit on Tuesday, aided by strong international results and demand for computing, home theater and video gaming products.
Wal-Mart's Japan unit cuts jobs, sees bigger loss
TOKYO (Reuters) - Wal-Mart Stores Inc's Japanese unit, Seiyu Ltd , boosted its annual loss forecast by 76 percent due to a charge to cut about 7 percent of its work force as it battles sluggish sales.
August foreclosure filings highest since Jan 05
NEW YORK (Reuters) - Foreclosure filings rose 36 percent in August from July and 115 percent from a year ago, hit by declines in once-hot housing markets such as California, Nevada and Florida, according to a report released on Tuesday.
Accredited Home survival in doubt
NEW YORK (Reuters) - Accredited Home Lenders Holding Co , a struggling subprime mortgage lender, on Tuesday posted a $260.2 million quarterly loss and said it remained unsure it would survive the fallout from a slumping U.S. housing market.
StanChart buys American Express Bank for $860 million
LONDON (Reuters) - Asia-focused bank Standard Chartered Plc said on Tuesday it is buying American Express Bank (AEB) for about $860 million to help "turbo charge" the growth of its recently launched private banking business.
Apple chooses O2 as iPhone carrier in UK
LONDON (Reuters) - O2 UK, part of Spanish telecoms giant Telefonica, and European mobile phone retailer Carphone Warehouse have clinched the long-awaited deal to bring Apple Inc's prized iPhone to Britain.
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