SINGAPORE (Reuters) - Oil inched lower on Wednesday, after falling 5 percent a day ago to close below $60 for the first time since March 2007, as weakening energy demand more than offset news of more supply reductions.

Original post by Reuters: Business News

NEW YORK (Reuters) - U.S. credit card losses could set new highs in 2009, due to higher unemployment, volatile energy prices and fewer refinancing options, Fitch Ratings said in a report on Tuesday.

Original post by Reuters: Business News

BOSTON (Reuters) - Legg Mason Inc is not planning to raise fresh capital to support investments in risky securities made by its money-market funds, the U.S. asset manager’s chief executive said on Tuesday.

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LONDON (Reuters) - Business leaders around the world back greater regulation in response to the global financial crisis, a survey showed on Wednesday, with support strongest for curbs on credit rating firms, hedge funds and structured finance.

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WASHINGTON (Reuters) - House of Representatives Speaker Nancy Pelosi sought legislation on Tuesday to bail out failing automakers, saying she was confident an emergency measure would be approved next week.

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NEW YORK (Reuters) - Goldman Sachs Group Inc will not change its strategy because it changed into a bank holding company, Goldman Chief Executive Lloyd Blankfein said at an investor conference on Tuesday.

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WASHINGTON (Reuters) - The regulator for the two largest U.S. mortgage finance companies on Tuesday unveiled a plan that could cut payments for hundreds of thousands of struggling homeowners to help reverse a wave of defaults threatening to swamp the economy.

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NEW YORK (Reuters) - Express Scripts Inc said on Tuesday a “small number” of its clients have received letters threatening to expose customers’ personal information, an apparent connection to an earlier extortion threat made against the company.

Original post by Reuters: Business News

NEW YORK (Reuters) - Fresh signs of economic weakness from China, Japan and Britain reinforced fears of a prolonged recession, and U.S. President-elect Barack Obama urged the Bush administration to back a second economic stimulus package and aid the ailing auto industry.

Original post by Reuters: Business News

NEW YORK (Reuters) - Stocks fell on Tuesday as faltering demand at aluminum maker Alcoa and a dismal outlook from Tyco International showed the global economic slowdown is deepening.

Original post by Reuters: Business News