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Greece defaults on IMF payment despite last-minute overtures to creditors

ATHENS - Greece made last-minute overtures to its international creditors for financial aid on Tuesday, but it was not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund. | Video

Recent Business News

U.S. approval of AT&T-DirecTV deal expected as soon as next week: sources

WASHINGTON - AT&T Inc's proposed $48.5 billion acquisition of DirecTV is expected to get U.S. regulatory approval as soon as next week, according to people familiar with the matter, a decision that will combine the country's No. 2 wireless carrier with the largest satellite-TV provider.

5:51pm EDT

U.S. economy nearing full employment, bounced back in second quarter: Fed's Fischer

WASHINGTON - The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is approaching full employment, Federal Reserve vice chairman Stanley Fischer said on Tuesday.

3:00pm EDT

Ex-BP engineer deserves new Gulf spill trial: U.S. appeals court

- A former BP Plc engineer deserves a new trial on an obstruction of justice charge related to the 2010 Gulf of Mexico oil spill, a federal appeals court ruled on Tuesday.

4:18pm EDT

Virgin Atlantic to cut 500 jobs: WSJ report

- Virgin Atlantic Airways Ltd [VA.UL], owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street Journal reported.

4:54pm EDT

U.S. consumer confidence rises; manufacturing still soft

NEW YORK - U.S. consumer confidence increased solidly in June, with households upbeat about the labor market, supporting views the economy was back on firmer footing after wobbling at the start of the year.

12:57pm EDT

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