Business Today: Stock futures slightly higher as economy in focus

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Good Morning Robert, FRI 26 Feb 2010 
 
Stock futures slightly higher as economy in focus
AIG posts $8.9 billion loss, warns of more aid
U.S. economic growth revised up on inventories
Greek PM says economic crisis confirmed worst fears
GM revisiting previous bidders for Hummer
Toyoda meets with LaHood, thanks workers at plant
AIG alters payback plan to Fed
U.S. hedge fund firm being probed on kickbacks: WSJ
Lloyds sags to loss on hefty bad debts, Irish woes
Oil holds near $78 ahead of key U.S. data


Stock futures slightly higher as economy in focus
February 26, 2010 08:28 AM ET
NEW YORK (Reuters) - Stock index futures were slightly higher on Friday as investors looked ahead to a raft of data, including economic growth, home sales and manufacturing after a disappointing week so far for the economy.

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AIG posts $8.9 billion loss, warns of more aid
February 26, 2010 08:15 AM ET
NEW YORK (Reuters) - American International Group Inc reported a quarterly loss of $8.9 billion on Friday and warned that it may need additional U.S. government support, even as it tries to pay back taxpayers after a $182.3 billion bailout.

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U.S. economic growth revised up on inventories
February 26, 2010 08:34 AM ET
WASHINGTON (Reuters) - The U.S. economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed on Friday.

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Greek PM says economic crisis confirmed worst fears
February 26, 2010 08:12 AM ET
ATHENS (Reuters) - Prime Minister George Papandreou on Friday vowed to ignore the political costs and take drastic measures to pull Greece out of a debt crisis threatening the stability of the euro zone.

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GM revisiting previous bidders for Hummer
February 26, 2010 04:12 AM ET
DETROIT/HONG KONG (Reuters) - General Motors has approached previous potential bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed, a source with knowledge of the matter said on Friday.

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Toyoda meets with LaHood, thanks workers at plant
February 25, 2010 10:25 PM ET
WASHINGTON (Reuters) - Toyota Motor Corp President Akio Toyoda had a "cordial and open" meeting on Thursday with Transportation Secretary Ray LaHood before thanking workers in Kentucky for supporting him during his appearance before Congress.

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AIG alters payback plan to Fed
February 26, 2010 07:46 AM ET
NEW YORK (Reuters) - American International Group Inc has decided not to use securitized U.S. life insurance policies to repay the U.S. government after a $182.3 billion rescue, a source familiar with the matter said on Friday.

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U.S. hedge fund firm being probed on kickbacks: WSJ
February 26, 2010 06:48 AM ET
(Reuters) - U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.

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Lloyds sags to loss on hefty bad debts, Irish woes
February 26, 2010 07:49 AM ET
LONDON (Reuters) - Lloyds, Britain's largest retail bank, suffered another big loss last year as it took a 24 billion pounds ($37 billion) hit from loans that soured, mostly assets inherited from its controversial takeover of rival HBOS.

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Oil holds near $78 ahead of key U.S. data
February 26, 2010 08:22 AM ET
LONDON (Reuters) - Oil held around $78 a barrel on Friday after sliding more than 2 percent the day before as traders mulled recovery prospects for the United States, the world's top energy consumer, ahead of economic data.

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