JPMorgan profit soars on investment banking
JPMorgan Chase & Co reported better-than-expected fourth-quarter profit on Friday, but losses on mortgages and commercial loans continued to rise and its shares fell nearly 2 percent in premarket trading. Read Full Article here.
High technology recharges automakerss' hopes in Detroit
Following government bailouts, layoffs, and bankruptcies, the auto industry is hoping to forget its near collapse last year, starting 2010 with a slew of new vehicles, and a focus on value and technology. Read Full Article here.
iPhone and Blackberry makers sued
Camera maker Eastman Kodak Co. has said it will sue Apple Inc. and Research In Motion (RIM), the makers of the iPhone and Blackberry, for patent infringement. Read Full Article here.
JAL draws on emergency funds as bankruptcy looms
Japan Airlines <9205.T> moved a step closer to bankruptcy on Friday by drawing down $1.6 billion in emergency funding and with the government setting Tuesday as the day to officially start a state-led restructuring. Read Full Article here.
Economy worries cap equity gains
Persistent worries over the world economy, fueled by tepid U.S. data and a relatively lackluster start to the earnings season, kept a lid on equity gains on Friday, boosting safe-haven trades like the dollar and yen. Read Full Article here.
Starwood files fresh allegations against Hilton
Starwood Hotels & Resorts Worldwide Inc has claimed that at least five members of rival Hilton Hotels executive committee knew of the alleged theft of trade secrets last year, court papers filed on Thursday showed. Read Full Article here.
U.S. financial companies paid $145 billion in 2009: report
Total pay at U.S. banks and securities companies jumped nearly 18 percent to a record $145 billion in 2009, the Wall Street Journal estimated in an analysis published in its online edition on Thursday. Read Full Article here.