NEW YORK (Reuters) - The U.S. stock market could gain as much 12 percent in 2009 from current levels, despite a recession that will last at least into the first half of the year, a top executive with asset manager BlackRock said on Tuesday.
NEW YORK (Reuters) - Oil prices were nearly unchanged on Tuesday, hovering around $49 a barrel as the market weighed weak U.S. economic data against rising geopolitical tensions and OPEC production cuts that threaten to tighten supplies.
MUMBAI (Reuters) - Dow Chemical Co will take legal action against Petrochemical Industries Co of Kuwait and is seeking more than $2.5 billion in damages from the Kuwaitis for backing out of a joint venture agreement, the largest U.S. chemical maker said on Tuesday.
NEW YORK (Reuters) - Gains in the tech sector lifted U.S. stocks on Tuesday, offsetting another batch of weak data showing slumping factory orders and dismal pending home sales.
BLAUBEUREN, Germany (Reuters) - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.
NEW YORK (Reuters) - A judge on Tuesday extended an order barring well-known hedge fund founder Ezra Merkin from withdrawing or liquidating millions of dollars in his funds, which invested with accused swindler Bernard Madoff.
SAN FRANCISCO (Reuters) - Apple Inc said on Tuesday said it was dropping copy protection from songs sold on the Internet and debuted its slimmest 17-inch laptop yet, but with no dramatic products or master pitchman Steve Jobs, the company’s final Macworld performance disappointed Wall Street.
NEW YORK (Reuters) - Petrochemical giant LyondellBasell remained locked in talks with creditors on Tuesday as it hovered near bankruptcy two days after a deadline to renegotiate terms of its heavy debt load.
WASHINGTON (Reuters) - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.
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