The worst U.S. recession since the Great Depression will probably end in the third quarter, but there is uncertainty over the speed and duration of the economic recovery, according to the most recent survey of private economists.
U.S. stocks slipped on Monday as a four-week rally encouraged investors to take profits, but McDonald's better-than-expected July sales pushed up the Dow component, briefly lifting the index to a positive territory.
Nortel Networks said on Monday its chief executive will step down immediately and its board will shrink from nine directors to three as the bankrupt telecom equipment maker sheds major assets. Nortel, once North America's biggest maker of telephone gear, also posted a bigger quarterly loss due to big reorganization costs and plunging sales, which it blamed on the weak economy.
General Motors Co and eBay Inc said Monday that they launched a test program in California that will allow consumers to negotiate with dealers and buy vehicles online.
Dynegy Inc said it will sell eight power plants to private equity firm LS Power for around $1.5 billion in cash and stock, basically ending a two-and-a-half-year joint venture between the two companies.
After relying on a pacemaker for 20 years, Carol Kasyjanski has become the first American recipient of a wireless pacemaker that allows her doctor to monitor her health from afar -- over the Internet. When Kasyjanski heads to St. Francis Hospital in Roslyn, New York, for a routine check-up, about 90 percent of the work has already been done because her doctor logged into his computer and learned most of what he needed to know about his patient.
Dish Network Corp , the second largest U.S. satellite TV operator, posted a fall in quarterly profit, hurt in part by expenses tied to a litigation with TiVo Inc , but reported its first quarterly net subscriber rise in more than a year.