SYDNEY - Asian markets should be well underpinned on Tuesday after Wall Street closed at historic highs while oil prices suffered a vicious setback after Saudi Arabia quashed all thought of cutting supply.
Recent Business News
WASHINGTON - U.S. home resales tumbled to a six-month low in November after two straight months of strong increases, underscoring the uneven nature of the housing market recovery. | Video
MOSCOW - The Russian economy will slide next year into its first recession since the global financial crisis and inflation will be close to double digits, economists forecast in a Reuters poll, as the oil price crash and Western sanctions bite. | Video
WILMINGTON, Del. - The Trump Taj Mahal, a casino hotel in New Jersey's struggling Atlantic City gambling hub, could stay open for all of 2015 with a $20 million financing package from investor Carl Icahn, lawyers for Trump Entertainment Resorts said on Monday.
NEW YORK - Victims of Bernard Madoff's massive Ponzi scheme will get afresh $322 million payout if a U.S. judge approves the request by the trustee liquidating the convicted fraudster's firm, bringing the recovery total to more than $7 billion.
MILAN - Italian fashion house Gucci said on Monday it would strengthen controls on its suppliers after a television program showed Chinese employees working more than three times their official hours to assemble its handbags.
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