CHICAGO (Reuters) – FedEx Corp said on Monday it expects to report a better-than-expected second-quarter profit, but slashed its fiscal 2009 outlook as a weakening U.S. economy offsets lower fuel prices, sending its shares down more than 11 percent in after-market trading.
NEW YORK (Reuters) – Stocks rallied to their highest level in a month on Monday on optimism President-elect Barack Obama’s proposed infrastructure spending could limit the depth of the year-old recession and on hopes for a government bailout of the three U.S. automakers.
WASHINGTON (Reuters) – The top U.S. banking regulators said on Monday that some of their foreclosure prevention efforts are floundering and that they have no agreed plan for the future, two years into a housing crisis that has dragged the economy into a deep recession.
‘Technology stocks closed with broad gains Monday, with most bellwethers flexing their muscles along with the rest of the market following reports that a deal could be near to help bail out the U.S. auto industry bring some stability to the current
BAGHDAD (Reuters) – Private security guards in Iraq, whose armored convoys once barreled through the streets with impunity, could face being thrown into crowded and violent Iraqi jails once their era of legal immunity ends on January 1.