WASHINGTON - The U.S. trade deficit surged to its highest level in nearly 6-1/2 years in March as imports rebounded strongly after being held down by a labor dispute at key West Coast ports, suggesting the economy contracted in the first quarter.
Recent Business News
HANOVER, Germany - Volkswagen said it would try to find a new chairman quickly and announced a long-planned tie-up of its truck brands, seeking to return the focus to business following the carmaker's shock ouster of former patriarch Ferdinand Piech.
WASHINGTON/NEW YORK - U.S. Federal Reserve Chair Janet Yellen met with a research firm that later published confidential information from the central bank, she said on Monday.
- The Pimco Total Return Fund, launched by Bill Gross, has lost its title as the world's biggest bond mutual fund, following two years of withdrawals.
ZURICH - Alexander Classen, chief executive of Royal Bank of Scotland's overseas private banking arm, is set to step down shortly following a sale to Union Bancaire Privee (UBP), according to a person familiar with his thinking.
SAN FRANCISCO - Investors seem willing to pay just about anything for a better burger.