Bernanke cautions on raising GSE loan limit
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke warned Congress on Thursday that raising the ceiling on the size of loans mortgage finance enterprises Fannie Mae and Freddie Mac can buy could undermine market discipline.
Goldman Sachs quarterly profit surges
NEW YORK (Reuters) - Goldman Sachs Group Inc said on Thursday that quarterly earnings surged 79 percent as revenue from investment banking and trading increased despite turbulent summer markets.
Shares set to open flat as rate cut shine fades
NEW YORK (Reuters) - Stocks were set to open little changed on Thursday, a signal that investors' two-day enthusiasm over the Federal Reserve's big rate cut this week was fading and as investment banks reported mixed financial results.
Nasdaq, Borse Dubai agree on OMX/LSE
STOCKHOLM/DUBAI (Reuters) - Nasdaq and Borse Dubai joined forces on Thursday with a deal allowing Nasdaq to buy Nordic markets operator OMX and create "a global financial marketplace" which will see Borse Dubai take key stakes in both the London Stock Exchange and Nasdaq.
Bear Stearns net tumbles 61 percent
NEW YORK (Reuters) - Bear Stearns Cos Inc said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages and disrupted fixed-income trading.
HSBC's Green says not considering buying in Japan
TOKYO (Reuters) - HSBC is not considering acquisitions in Japan and will instead focus on growth by itself as it rolls out retail banking in the world's second-largest economy, HSBC Chairman Stephen Green said on Thursday.
Nokia unveils new unlicensed mobile access phone
HELSINKI (Reuters) - Nokia , the world's top cellphone maker, unveiled on Thursday its new phone model 6301, which features unlicensed mobile access (UMA) technology.
FedEx profit up, but outlook cut
CHICAGO (Reuters) - Package delivery company FedEx Corp on Thursday said quarterly profit rose despite a slowing U.S. economy, but lowered its full-year earnings outlook, sending its shares down more than 2 percent.
Circuit City posts quarterly loss
ATLANTA (Reuters) - Electronics retailer Circuit City Stores Inc posted a quarterly loss on Thursday as sales fell and the company cut jobs in an effort to turn business around.
Apple CEO gets subpoena in backdating case: report
NEW YORK (Reuters) - Apple Inc Chief Executive Steve Jobs has been asked by U.S. securities regulators to give a deposition in a stock options backdating lawsuit against the company's former general counsel, Bloomberg reported on Thursday, citing two people familiar with the matter.
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