Japanese PM Yasuo Fukuda warns action is needed to tackle the growing risks to the world economy. Source: BBC News | Business | World Edition | 26 Jan 2008 | 12:47 pm
Reuters - French investigators have stepped up
efforts to find out how a self-effacing dealer at Societe
Generale ran up a $7 billion loss that hoodwinked his
employers, saying he was not on the run and would soon face
questioning.
PARIS (Reuters) - French investigators have stepped up efforts to find out how a self-effacing dealer at Societe Generale ran up a $7 billion loss that hoodwinked his employers, saying he was not on the run and would soon face questioning.
Britains largest brewer agreed to a 7.8 billion ($15.4 billion) takeover by the European rivals Carlsberg and Heineken. Source: Infocious RSS raw feed - channel BNPaperBusiness | 26 Jan 2008 | 11:11 am
The chief executive of France's second-largest bank insisted in an interview published Saturday that its actions after discovering a trader had cost it billions in a massive fraud scandal Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 10:55 am
French police search the headquarters of Societe Generale, the bank where rogue trading lost huge sums. Source: BBC News | Business | World Edition | 26 Jan 2008 | 10:37 am
Tyson Foods Inc., the world's largest meat company, said Friday it would end beef slaughtering at its Emporia plant, cutting about 1,500 jobs, or more than half its work force at the... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 10:32 am
Tyson Foods Inc., the world's largest meat company, said Friday it would end beef slaughtering at its Emporia plant, cutting about 1,500 jobs, or more than half its work force at the... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 10:31 am
Construction-equipment maker and economic bellwether Caterpillar Inc. said Friday that it expects resilient overseas economies to drive strong sales and profit growth this year, even as... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 10:28 am
Construction-equipment maker and economic bellwether Caterpillar Inc. said Friday that it expects resilient overseas economies to drive strong sales and profit growth this year, even as... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 10:26 am
If the struggling bond market is saved by a potential bailout, turbulence in the stock market could ease _ but without a bailout, cities across the country could have difficulty building... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 10:12 am
businessminute Wall Street ended a tumultuous week with a sharp decline Friday, backtracking following two days of stunning gains as investors turned cautious and cashed in some of their Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 9:58 am
DUBAI (Reuters) - Banks in the Middle East will announce losses from exposure to the U.S. subprime mortgage crisis when they report fourth-quarter earnings, the Middle East Economic Digest (MEED) reported, citing bankers.
DUBAI (Reuters) - Banks in the Middle East will announce losses from exposure to the U.S. subprime mortgage crisis when they report fourth-quarter earnings, the Middle East Economic Digest... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 9:35 am
The Financial Services Authority failed in its duty over the Northern Rock crisis, a key committee of MPs says. Source: BBC News | Business | World Edition | 26 Jan 2008 | 9:19 am
A rogue trader who cost France's Societe Generale bank more than $7 billion by making bad stock market bets had been gambling on a much larger scale, officials said _ tens of billions of... Source: Infocious RSS raw feed - channel BNewsBusiness | 26 Jan 2008 | 8:15 am
City National Corp. stock fell 12% on Friday after the Beverly Hills-based bank reported lower fourth-quarter earnings and said this year's profit would decline 7% to 12%. Source: Infocious RSS raw feed - channel BNPaperBusiness | 26 Jan 2008 | 8:00 am
Fear of losing money has dominated investors' emotions in the new year, which has translated into wrecked stock markets worldwide. Source: Infocious RSS raw feed - channel BNPaperBusiness | 26 Jan 2008 | 8:00 am
In Paris and financial circles, many ask: How did Jerome Kerviel become the key figure in the bank's $7-billion loss? And who is he? ... Source: Infocious RSS raw feed - channel BNPaperBusiness | 26 Jan 2008 | 8:00 am
Commerce Bancorp, the New Jersey bank being acquired by Toronto-Dominion Bank, said fourth-quarter profit fell 47 percent because more homeowners and businesses didn't pay their loans on time. Net income... Source: Infocious RSS raw feed - channel BNPaperBusiness | 26 Jan 2008 | 7:50 am
BOSTON (Reuters) - Jack Welch transformed General Electric Co from an old-economy manufacturer into a modern conglomerate, in part because of his insistence on a culture of straight talk, according to a new book by his former speechwriter.
Reuters - Goldman Sachs Group and Credit
Suisse Group on Friday said they will cut about 2,000
job worldwide as a credit crisis puts a damper on fixed-income
trading and corporate dealmaking.
NEW YORK (Reuters) - Goldman Sachs Group and Credit Suisse Group on Friday said they will cut about 2,000 job worldwide as a credit crisis puts a damper on fixed-income trading and corporate dealmaking.
In an extract from his provocative book Who Runs Britain?, Robert Peston looks at the roots of the current financial crisis and blames a political pact with the super-rich for impoverishing the rest of us Source: Telegraph Business | 26 Jan 2008 | 1:31 am
Reuters - The bidding topped $3.7 billion on
the second day of the Federal Communications Commission's
auction of government-owned airwaves, but there were no new
suitors Friday for a closely watched block of spectrum to be
shared with public safety agencies. Source: Yahoo! News: Business | 26 Jan 2008 | 12:47 am
WASHINGTON (Reuters) - The bidding topped $3.7 billion on the second day of the Federal Communications Commission's auction of government-owned airwaves, but there were no new suitors Friday for a closely watched block of spectrum to be shared with public safety agencies.
US medicine regulators tried to calm the controversy over Vytorin, Schering-Plough and Merck's key drug, urging the public not to dismiss the health importance of lowering cholesterol Source: FT.com - US homepage | 26 Jan 2008 | 12:34 am
NEW YORK (Reuters) - Wall Street may put the brakes on a steep decline next week, when a rate cut is anticipated from the Fed, and Friday's monthly jobs data may trigger a comeback for stocks after their January funk.
Reuters - U.S. regulators said on Friday they
would review a study showing a Merck and Schering-Plough
cholesterol drug worked no better than a generic in preventing
the build-up of arterial plaque.
WASHINGTON (Reuters) - U.S. regulators said on Friday they would review a study showing a Merck and Schering-Plough cholesterol drug worked no better than a generic in preventing the build-up of arterial plaque.
Financiers behind the UK's biggest ever PFI scheme, the £13bn deal to finance a fleet of 14 RAF refuelling aircraft, have been forced to ditch their original funding proposal Source: Telegraph Business | 26 Jan 2008 | 12:01 am
Financial watchdog investigates stock market activity after French rogue trader's record losses are linked to bourse falls across Europe Source: Telegraph Business | 26 Jan 2008 | 12:01 am
Imperial Tobacco, the world's fourth-largest cigarette maker, is to launch a €910m (£670m) bid for the rump of the Spanish distribution group Logista that it is does not already own, following its £8.5bn acquisition of rival tobacco firm Altadis. Source: Telegraph Business | 26 Jan 2008 | 12:01 am
The rogue trader scandal that is convulsing French bank Société Générale prompted demands from Europe's top central banker for a major strengthening of banking controls Source: FT.com - US homepage | 26 Jan 2008 | 12:01 am
A leading expert on Europe's gas industry has warned that the costs of the controversial Nord Stream pipeline project being built by Russia's Gazprom could spiral out of control with consumers paying the price through increased bills. Source: Telegraph Business | 26 Jan 2008 | 12:01 am
Ian Cheshire, the newly appointed chief executive of Kingfisher, the DIY retailer, has promised a "step-change" in shareholder value at the B&Q-to-Castorama group after a halving of the retailer's share price over the past year. Source: Telegraph Business | 26 Jan 2008 | 12:01 am
A fourth wave of feminism has arrived, with a new twist - cash-rich, time-poor, middle-aged women seeking the love and attention of good-looking young men. Source: Telegraph Business | 26 Jan 2008 | 12:01 am
Specialist shoe and boot retailers such as Dolcis and Stead & Simpson are seeing their market share decimated by clothing retailers and supermarkets who have aggressively moved into the footwear market. Source: Telegraph Business | 26 Jan 2008 | 12:01 am
It was one of the hairiest weeks the global markets have ever known. Swings of more than 600 points on the Dow, the biggest ever one-day points fall - and rise - for the FTSE, and the world's biggest rogue trading scandal. Source: Telegraph Business | 26 Jan 2008 | 12:01 am
Investor's Business Daily - March crude rose $1.30 to $90.71 a barrel -- topping $91 intraday -- on rising beliefs that the U.S. is headed for a recession. Oil prices shot up $2.42 on Thu. after House leaders and President Bush agreed on a $150 bil economic stimulus plan. Crude hit a 3-month closing low of $86.99 on Wed. OPEC is expected to discuss further output hikes at its Feb. 1 meeting. Source: Yahoo! News: Business | 25 Jan 2008 | 11:40 pm
Reuters - NEW YORK (Reuters) -New York City and state on Friday
expanded a shareholder class-action law suit filed against top
U.S. mortgage lender Countrywide Financial Corp , naming
additional company officers and directors, 26 underwriters and
two accounting firms as defendants.
Hard times in the US are benefiting pawnbrokers as beleaguered consumers pledge jewels, electronics and other goods in return for loans with interest rates running as high as 300 per cent a year Source: FT.com - US homepage | 25 Jan 2008 | 11:13 pm
Investor's Business Daily - Even before Tuesday's 0.75% slash in the federal funds rate by the Federal Reserve, mortgage rates had been sliding. Last week's cut pulled down home loan rates more. Source: Yahoo! News: Business | 25 Jan 2008 | 11:08 pm
French police search the flat of Jerome Kerviel, the man said to be the rogue trader who lost 4.9bn euros. Source: BBC News | Business | World Edition | 25 Jan 2008 | 11:02 pm
Wall Street endured one of its most volatile weeks in recent memory, and was closing out the period having escaped a brief encounter with a bear market Source: FT.com - US homepage | 25 Jan 2008 | 10:06 pm
NEW YORK (Reuters) - A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan.
NEW YORK (Reuters) - New York City Comptroller William Thompson on Friday expanded a class-action law suit filed against Countrywide Financial Corp , naming additional company officers and directors, 26 underwriters and two accounting firms.
It's almost time for the Super Bowl, and you know what that means... lots of Anheuser-Busch ads. And while a high-profile spot might get you to purchase a few cold Buds, what about shares in the company itself?
Global stocks end down on Friday, as concerns return about the state of the worldwide financial sector. Source: BBC News | Business | World Edition | 25 Jan 2008 | 9:14 pm
The 'Balkanisation of regulation' lies at the heart of the current financial crisis, says Malcolm Knight, chief executive of the Bank for International Settlements Source: FT.com - US homepage | 25 Jan 2008 | 7:34 pm
FT.com - This is hyperfinance. In the space of five frenetic days, stock markets have plunged and recovered; the US Federal Reserve has cut interest rates to 3.5 per cent; so-called "monoline" insurers, revealed as a small but vital valve in the financial machinery, have wobbled; and one Jérôme Kerviel has lost EU5bn for a venerable French bank. Source: Yahoo! News: Business | 25 Jan 2008 | 7:15 pm
CHICAGO (Reuters) - U.S. airline labor unions, hungry to reclaim wage and benefit concessions, are busily issuing demands in exchange for their support for a potential merger, as they try to influence back-room talks.
Gold and platinum prices hit record highs after South Africa's main precious metals mines were forced to close for lack of power as the government said the country faced a "national electricity emergency" Source: FT.com - US homepage | 25 Jan 2008 | 6:41 pm
Banks may need $143bn to weather the credit crisis if bond insurers lose their top credit ratings, new research shows. Source: BBC News | Business | World Edition | 25 Jan 2008 | 6:30 pm
The economic stimulus plan announced Thursday by Congress and the Bush administration includes provisions that specifically address the mortgage crisis. It aims to make getting a mortgage easier and cheaper in high-cost markets, to facilitate refinancing and to prevent foreclosures.
US equipment maker Caterpillar reports a rise in quarterly profit on strong international sales. Source: BBC News | Business | World Edition | 25 Jan 2008 | 5:22 pm
The price of gold has set another record high, reaching $923 an ounce, on supply fears and inflation risks. Source: BBC News | Business | World Edition | 25 Jan 2008 | 5:17 pm
The lights are flickering on and off in South Africa - and it's much more than an inconvenience. Rolling power outages that have become an unwelcome fact of life amount to a "national emergency," authorities said Friday.
Reuters - Home improvement retailer Home Depot
Inc , pressured by continued weakness in the U.S. housing
market, is expected to ramp down new-store openings this year
and boost spending to maintain existing outlets, an analyst
said on Friday.
Average pay rises in the UK reached their highest level in 15 years at the end of 2007, according to a survey. Source: BBC News | Business | World Edition | 25 Jan 2008 | 3:45 pm
The UK's largest brewer, Scottish & Newcastle, agrees to be bought by Carlsberg and Heineken for £7.8bn. Source: BBC News | Business | World Edition | 25 Jan 2008 | 2:52 pm
Reuters - French investigators have stepped up
efforts to find out how a self-effacing dealer at Societe
Generale ran up a $7 billion loss that hoodwinked his
employers, saying he was not on the run and would soon face
questioning.
Reuters - Goldman Sachs Group and Credit
Suisse Group on Friday said they will cut about 2,000
job worldwide as a credit crisis puts a damper on fixed-income
trading and corporate dealmaking.
Reuters - U.S. regulators said on Friday they
would review a study showing a Merck and Schering-Plough
cholesterol drug worked no better than a generic in preventing
the build-up of arterial plaque.
Reuters - NEW YORK (Reuters) -New York City and state on Friday
expanded a shareholder class-action law suit filed against top
U.S. mortgage lender Countrywide Financial Corp , naming
additional company officers and directors, 26 underwriters and
two accounting firms as defendants.
Reuters - Home improvement retailer Home Depot
Inc , pressured by continued weakness in the U.S. housing
market, is expected to ramp down new-store openings this year
and boost spending to maintain existing outlets, an analyst
said on Friday.