AOL to cut one-third of workforce
November 19, 2009
NEW YORK (Reuters) - Web company AOL plans to cut one-third of its workforce, or about 2,500 jobs, in an effort to trim some $300 million in annual costs as part of its planned spin-off from Time Warner Inc.
November 19, 2009
NEW YORK (Reuters) - Web company AOL plans to cut one-third of its workforce, or about 2,500 jobs, in an effort to trim some $300 million in annual costs as part of its planned spin-off from Time Warner Inc.
U.S. jobless claims unchanged last week
November 19, 2009
WASHINGTON (Reuters) - The number of U.S. workers filing new applications for jobless insurance was unchanged last week, according to government data on Thursday that showed the labor market was slowly healing.
November 19, 2009
WASHINGTON (Reuters) - The number of U.S. workers filing new applications for jobless insurance was unchanged last week, according to government data on Thursday that showed the labor market was slowly healing.
Sony eyes 3D, networked products to revive growth
November 19, 2009
TOKYO (Reuters) - Sony Corp said it would launch 3D TVs and networked products and services to unleash its potential as an electronics and entertainment giant and reverse its fortunes as it heads for a second straight annual loss.
November 19, 2009
TOKYO (Reuters) - Sony Corp said it would launch 3D TVs and networked products and services to unleash its potential as an electronics and entertainment giant and reverse its fortunes as it heads for a second straight annual loss.
Fed officials play down impact of weak dollar
November 19, 2009
HONG KONG/SINGAPORE (Reuters) - Federal Reserve officials on Thursday downplayed the consequences of the falling U.S. dollar, underscoring that deflation is still a threat, especially with commercial real estate prices falling.
November 19, 2009
HONG KONG/SINGAPORE (Reuters) - Federal Reserve officials on Thursday downplayed the consequences of the falling U.S. dollar, underscoring that deflation is still a threat, especially with commercial real estate prices falling.
BofA Merrill cuts ‘10 semiconductor growth view
November 19, 2009
(Reuters) - BofA Merrill Lynch lowered its 2010 growth forecast for global semiconductor industry and downgraded ten chipmakers, including Intel Corp , turning more cautious on the group on expectations of a modest overshoot in global supply chain inventories.
November 19, 2009
(Reuters) - BofA Merrill Lynch lowered its 2010 growth forecast for global semiconductor industry and downgraded ten chipmakers, including Intel Corp , turning more cautious on the group on expectations of a modest overshoot in global supply chain inventories.
OECD: Asia helps feeble West in recovery
November 19, 2009
PARIS (Reuters) - Asia is leading the global economy out of the deepest downturn in decades but the recovery will be marred by high unemployment and huge government debt across the industrialized countries, the OECD said on Thursday.
November 19, 2009
PARIS (Reuters) - Asia is leading the global economy out of the deepest downturn in decades but the recovery will be marred by high unemployment and huge government debt across the industrialized countries, the OECD said on Thursday.
Vivendi eyes NBC Universal exit: CFO
November 19, 2009
BARCELONA (Reuters) - Vivendi could exit from U.S. media group NBCU Universal as it has no intention to be part of the future joint venture being discussed by Comcast and General Electric, its chief financial officer said on Thursday.
November 19, 2009
BARCELONA (Reuters) - Vivendi could exit from U.S. media group NBCU Universal as it has no intention to be part of the future joint venture being discussed by Comcast and General Electric, its chief financial officer said on Thursday.
Housing starts fall sharply, inflation edges up
November 18, 2009
WASHINGTON (Reuters) - Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
November 18, 2009
WASHINGTON (Reuters) - Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
Wells Fargo to repay $1.3B in auction-rate pact
November 18, 2009
NEW YORK (Reuters) - Wells Fargo Investments LLC will repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in the latest of a series of settlements with state securities regulators, an industry association said on Wednesday.
November 18, 2009
NEW YORK (Reuters) - Wells Fargo Investments LLC will repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in the latest of a series of settlements with state securities regulators, an industry association said on Wednesday.
Goldman was exposed to AIG losses
November 18, 2009
NEW YORK (Reuters) - Goldman Sachs Group Inc could have suffered dramatic losses if the federal government had not intervened to prop up American International Group Inc, according to a government report.
November 18, 2009
NEW YORK (Reuters) - Goldman Sachs Group Inc could have suffered dramatic losses if the federal government had not intervened to prop up American International Group Inc, according to a government report.
Geithner: Tight small biz credit hurts recovery
November 18, 2009
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Wednesday called on banks to "get back to the business of lending" and said a tough credit environment for small businesses will slow economic recovery.
November 18, 2009
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Wednesday called on banks to "get back to the business of lending" and said a tough credit environment for small businesses will slow economic recovery.
Ferrero, Hershey mull Cadbury bid
November 18, 2009
LONDON (Reuters) - Italy's Ferrero and U.S.-based Hershey Co are considering a bid for chocolatier Cadbury Plc , but hostile bidder Kraft Foods Inc is still seen as the front-runner with its $16.8 billion offer.
November 18, 2009
LONDON (Reuters) - Italy's Ferrero and U.S.-based Hershey Co are considering a bid for chocolatier Cadbury Plc , but hostile bidder Kraft Foods Inc is still seen as the front-runner with its $16.8 billion offer.
BJ’s Wholesale profit off 37 percent
November 18, 2009
SAN FRANCISCO (Reuters) - BJ's Wholesale Club Inc reported a 37 percent drop in quarterly profit on Wednesday, hurt by a charge for a proposed legal settlement regarding worker pay.
November 18, 2009
SAN FRANCISCO (Reuters) - BJ's Wholesale Club Inc reported a 37 percent drop in quarterly profit on Wednesday, hurt by a charge for a proposed legal settlement regarding worker pay.
Bullard: shrinking reserves key to exit
November 18, 2009
ST. LOUIS (Reuters) - A senior Federal Reserve official said on Wednesday the U.S. central bank may start tightening financial conditions by adjusting its extensive asset purchase programs rather than raising interest rates.
November 18, 2009
ST. LOUIS (Reuters) - A senior Federal Reserve official said on Wednesday the U.S. central bank may start tightening financial conditions by adjusting its extensive asset purchase programs rather than raising interest rates.
Autos, energy raise October consumer prices
November 18, 2009
WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in October, chiefly from increases in energy and motor vehicle costs, according to government data on Wednesday that showed the economy may have to confront some inflation threats during its recovery from the worst recession in 70 years.
November 18, 2009
WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in October, chiefly from increases in energy and motor vehicle costs, according to government data on Wednesday that showed the economy may have to confront some inflation threats during its recovery from the worst recession in 70 years.
Housing starts, permits fall sharply in October
November 18, 2009
WASHINGTON (Reuters) - New U.S. housing starts in October unexpectedly fell to their lowest level in six months, weighed down by a sharp decline in construction activity for both single-family and multi-family dwellings, a government report showed on Wednesday.
November 18, 2009
WASHINGTON (Reuters) - New U.S. housing starts in October unexpectedly fell to their lowest level in six months, weighed down by a sharp decline in construction activity for both single-family and multi-family dwellings, a government report showed on Wednesday.
MUFG results upbeat, scales back Morgan plan
November 18, 2009
TOKYO (Reuters) - Mitsubishi UFJ Financial Group became the third major Japanese bank to post upbeat results, underscoring the improving outlook for the sector, and said it would raise $11 billion to meet stricter capital rules.
November 18, 2009
TOKYO (Reuters) - Mitsubishi UFJ Financial Group became the third major Japanese bank to post upbeat results, underscoring the improving outlook for the sector, and said it would raise $11 billion to meet stricter capital rules.
Obama: Debt could fuel double-dip recession
November 18, 2009
BEIJING (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.
November 18, 2009
BEIJING (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.
Gold hits record near $1,150/oz as dollar slips
November 18, 2009
LONDON (Reuters) - Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.
November 18, 2009
LONDON (Reuters) - Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.
China: Microsoft must curtail sales
November 18, 2009
SHANGHAI (Reuters) - Microsoft Corp has been ordered by a Chinese court to stop selling versions of its Windows operating systems that include fonts designed by a local company, citing a violation of licensing agreements.
November 18, 2009
SHANGHAI (Reuters) - Microsoft Corp has been ordered by a Chinese court to stop selling versions of its Windows operating systems that include fonts designed by a local company, citing a violation of licensing agreements.