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At a meeting with financial analysts in New York , U.S. energy behemoth Chevron Corp. (NYSE:CVX) unveiled its business strategy. In particular, the company outlined plans to restructure its struggling downstream (refinery, marketing, and transportation) operation that has seen mounting losses due to weak demand for fuel. Chevron will now focus on growth in Asian markets and in its gas business.
 
The company confirmed its 2010 capital expenditure budget of $21.6 billion, 2.7% lower than a … [visit site to read more]

 Facet Biotech (FACT) agreed to its purchase by Abbott Labs (NYSE:ABT) for $722 million or $27 per share.

 American Eagle Outfitters (NYSE:AEO) announced plans to shutter all 28 Martin & Osa stores. The company is due to report results today, with fourth quarter earnings of 33 cents versus 19 cents a year ago anticipated.

 Goldman Sachs (NYSE:GS) added Bucyrus (NASDAQ:BUCY) to its Conviction Buy List with an $80 price target.

 Several analysts reiterated “buy” recommendations … [visit site to read more]

The USDCAD is trying its best to bottom. The problem is there does not seem to be much of a short to cause a strong bounce in the currency pair. 
From a technical basis the 1.0259 level has given us a number of hourly bar bottoms at the level to keep us interested in that level as a pivot area. If the price is above, bullish. If the price moves below bearish. A break below has 1.0234 as the low target and below that level, the low for 2010 comes in at 1.0223.
On the topside there are a … [visit site to read more]

Investors took advantage of a drop in the share price of Gulf Keystone Petroleum today after the stock dropped 9.3 per cent to 85.1 pence per share. 
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Standard Life’s better-than-expected results made little impact on the life assurer’s share price this morning, despite initial gains.
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Copper producer Antofagasta recovered well on Tuesday afternoon after its share price had initially dipped in the early session.
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How does the legal process in Spain work when it comes to wills, Spanish assets and the succession process? Taking the complexity out of this apparent minefield of legal confusion with the help of Legal4Spain, qualified lawyers expert in Spanish succession matters.

We’re devoting a week’s worth of articles and reports to helping the 42% of British over-55s who want to escape UK and emigrate and live somewhere warmer, safer and cheaper abroad…

International savings account holders in the US are likely to see interest rates rise in the country in the coming months, according to new figures.

The results of a survey by the National Association for Business Economics (NABE) show that two-thirds of people believe that the Federal Reserve’s fiscal policy is "appropriate at the moment".

Almost two-thirds believe that the target for the Federal Funds rate, which is the Federal Reserve’s main interest rate, will increase by 25 or 50 basis points in the next six months.

In addition, almost all of the 203 NABE members polled believed that mortgage rates would rise in the coming months. The majority also thought that the current level of stimulus in place in the US was appropriate.

The news comes as unemployment figures released by the Bureau of Labor Statistics show little change in the level of joblessness in January, which remained stable at 9.7 per cent.

Only a slight change was seen in the number of long-term jobless citizens, which has stayed at around 6.1 million since December.

Posted by Chris Moore.

International savings account holders in the US will have seen little change in unemployment in February as the official rate remained stable.

The US Bureau of Labor Statistics (BLS) said that the rate was "essentially unchanged" during the month at 9.7 per cent. Men were more likely to be unemployed that women with rates of ten per cent and eight per cent respectively.

There was also only a slight difference in the number of long-term unemployed citizens – those who have been out of work for 27 weeks or more – which has remained at around 6.1 million people since December.

It is believed that severe weather conditions may have affected employment rates and the number of hours worked in some areas of the US.

Last week, the BLS revealed that Michigan experienced the highest unemployment rate of all states at 14.6 per cent.

In total, 14 states and the District of Columbia posted jobless rates of ten per cent or higher, while 30 registered figures significantly lower than the national average.

Posted by Andy Price.