Madoff Tried to Stave Off Firm's Crash
Days before Madoff's arrest he received $250 million from a Wall Street mentor, showing how the investment manager tried to raise cash to stave off his firm's collapse.
(read more)Suddenly, a Markets Turnaround
The Dow Jones Industrial Average is up nearly 20% from its low, and other global stock and bond markets are having similar turnarounds. Analysts debate whether the strength can last.
(read more)Alcoa to Cut 15% of Work Force
Alcoa set asset sales, a 15% work-force reduction, more plant closures and a 50% cut in capital spending.
(read more)Satyam's Chairman Resigns
Satyam Computer Chairman B. Ramalinga Raju tendered his resignation after admitting to inflating revenue and profit figures over several quarters, sending the company's shares plunging more than 60%.
(read more)Legal Run-Ins Dog CDR Financial
The financial company tied to Gov. Richardson has a history of making campaign contributions in the states where it does business.
(read more)Gas Spat Sends Shivers Across Europe
Ukraine said that Russia has cut off all gas supplies to Europe in an escalating dispute with its neighbor.
(read more)Dow's CEO Says Recovery Is Not Derailed
Dow Chemical's chief pledged to pursue legal and other avenues to remake itself after a failed plastics venture. (Interview excerpts)
(read more)Retailers Press Landlords on Rent
Retailers, having just struggled through one of the worst holiday shopping seasons in recent memory, are now trying to share the pain with their landlords.
(read more)Fed Outlook Darkens on Economy
The Fed signaled in minutes from its December meeting that the recession could be longer and deeper than officials thought just weeks ago.
(read more)Retailer Goody's Plans to Liquidate
Goody's Family Clothing is liquidating operations, beginning a year likely to see more such woe in retail.
(read more)Marks & Spencer to Cut 1,200 Jobs
Marks & Spencer said it would close 27 stores and cut about 1,200 jobs after U.K. comparable sales dropped 7.1% over the Christmas period and margins declined.
(read more)BofA's Chief Decides to Forgo Bonuses
Bank of America's CEO said he and his top executives should get no 2008 bonuses. The lender also trimmed its stake in China's CCB.
(read more)GE Unit Swims Solo in Latest Issue
GE's finance unit opted to forgo government guarantees in selling $4 billion of debt.
(read more)Factory, Service Weakness Persist
Factory orders plunged 4.6% in November, while the ISM said the service sector continued to contract in December, albeit less dramatically than the previous month.
(read more)Vitol Trader Is Leaving Oil Firm
An oil trader at Vitol whose market moves came under review is leaving the firm.
(read more)Bahrain Credit Outlook Is Downgraded
Moody's Investors Service downgraded the credit outlook for the Kingdom of Bahrain, marking the first sovereign-rating hit to the oil-rich Persian Gulf.
(read more)Jardine Crib Recall Is Expanded
Jardine Enterprises and product-safety regulators expanded a baby-crib recall because of wooden slats and spindles that can break and entrap and strangle infants.
(read more)Real-Estate Executive Is Found Dead
Steven Good, CEO of a Chicago real-estate auction firm, was found dead in an apparent suicide. It wasn't clear if there was any connection to his business.
(read more)BP Names Head of American Unit
BP said its executive who acted as troubleshooter in the bitter dispute between BP and its Russian partners in TNK-BP, will become chairman and president of BP America.
(read more)CBS Renegotiates Cable Payments
CBS will receive higher fees from Time Warner Cable for access to the network's programming, including "60 Minutes" and its popular "CSI" franchise.
(read more)Obama Pushes States to Cover Unemployed
Obama plans to offer states $7 billion to entice them to expand unemployment-insurance laws.
(read more)In Crisis, Thai Village Prints Its Own Money
Villagers of Santi Suk in northern Thailand began creating their own cash following Asia's financial crisis a decade ago.
(read more)Hadley: Pakistan Is Top U.S. Challenge
Pakistan will pose the greatest foreign-policy challenge to the Obama administration, Bush's national security adviser said in an interview.
(read more)
Leave a Reply