Month: February 2012

DETROIT/PARIS (Reuters) – General Motors Co and PSA Peugeot Citroen will form a global alliance targeting a cut in annual costs of at least $2 billion without plant closings or job cuts in Europe.

DETROIT (Reuters) – U.S. auto sales for February are expected to post a modest rise from year-earlier levels, as the industry continues its gradual recovery thanks to a rise in consumer confidence and the need to replace aging cars and trucks.

NEW YORK/SAN FRANCISCO (Reuters) – Facebook has unveiled new ways for businesses to reach its 845 million users directly across all devices, including mobile, as it races toward a multibillion dollar IPO.

WASHINGTON (Reuters) – The economy grew slightly faster than initially thought in the fourth quarter and a gauge of factory activity in the Midwest hit a 10 month-high in February, pointing to underlying strength in the economy.

NEW YORK (Reuters) – U.S. prosecutors are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider-trading probe focusing on the company’s hedge-fund clients, a person familiar with the case said on Wednesday.

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery.

(Reuters) – Terri Dial, a former senior executive of some of the world’s largest banks and one of the leaders of Citigroup’s post-crisis restructuring, has died.

DETROIT (Reuters) – Ford Motor Co may lose between $500 million and $600 million this year in Europe, where auto sales are heading toward the low end of the company’s forecast, Chief Financial Officer Lewis Booth said on Wednesday.

NEW YORK (Reuters) – Stocks slipped on Wednesday, snapping a four-day winning streak after comments from U.S. Federal Reserve Chairman Ben Bernanke disappointed investors hoping for a strong signal of more stimulus.