COMPANIES

New York Mercantile Exchange

Gold Sets Record, U.S. Stocks Slip

Gold set a record high on Friday on safe-haven buying but commodities rebounded after the U.S. dollar plunged to a record low against Japan's currency on speculation authorities will not halt the yen's surge.

S.Africa mine union rejects revised Implats offer

Carletonville
South Africa's National Union of Mineworkers members at Impala Platinum on Friday rejected a revised pay rise offer from the world's second largest producer of the precious metal and will refer the dispute to arbitration.

Amplats ups offer in S.Africa platinum pay talks

Striking workers
South Africa's National Union of Mineworkers said Anglo American Platinum (Amplats), the world's largest platinum producer, again raised its wage offer on Friday, trying to head off a strike that could cause a jump in global prices of the precious metal.
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An HP Invent logo is pictured in front of Hewlett-Packard international offices in Meyrin near Geneva

HP's Bold Move: CEO Apotheker Reinventing Company

In a bold move, Apotheker -- who took the job as HP CEO in November -- has decided to spin off the company's PC unit that accounted for 30 percent of sales in the most recent quarter. But it's not hard to understand why, since HP's PC unit, despite being the largest in the U.S., generated only a 5.9 percent operating margin.
California state worker Curtis Walker looks over retirement plan brochures at the Calpers regional office in Sacramento

Retirement Plans Add Options Against Inflation: Mercer

Mutual funds and other vehicles that purport to help investors fight inflation are the most popular new investment strategy being adopted by corporate retirement plans, according to a new survey released on Thursday.
Norwegian Breivik

Olso Killer Due Back in Court

Oslo mass killer Anders Breivik will make his second court appearance Friday as relatives of the 69 people he gunned down gather on the island where they died, ahead of a national day of remembrance.
One kilogram gold bars are seen in this picture illustration

Gold Rallies 2 Percent to Record, Equity Rout Persists

Gold prices rallied more than 2 percent to a record highs on Friday as investors sought refuge from a second day of hefty losses on the stock markets, hurt by deepening concerns over slowing economic growth and the outlook for euro zone banks.
A photographer looks at the DAX index board at Frankfurt's stock exchange

Global Stocks Routed, Gold Soars

An ugly sell-off in global stocks gathered pace on Friday, on mounting concerns the U.S. economy is heading into another recession and as some European lenders faced a short-term funding crunch, highlighting the risk of a banking crisis.
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World's biggest solar power plant shifts technology

The company behind what is expected to one day be the world's largest solar power plant on Thursday said the California project will use photovoltaic technology instead of solar thermal power because of the dramatic drop in the price of solar panels.
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John Antioco named head of Rave Cinemas

Former Blockbuster chairman and CEO John Antioco has been tapped to head Rave Cinemas, the company announced Wednesday, succeeding Charles B. Moss as the company's chairman on September 19.
Chinese companies on a Foreign Foray

European Stocks to Extend Slump and Gold Scales New Record

European stocks are slated for another fall on Friday after Asian stocks slumped on growing fears the U.S. economy was sliding into recession and as some European lenders faced short-term funding strains, raising fears of a systemic banking crisis on the continent.
One kilogram gold bars are seen in this picture illustration

Gold Hits Record on U.S. Growth, Europe Woes

Gold surged to record highs on Friday for a second consecutive session as investors reached for the safety of bullion amid a worsening economic outlook for the United States and concern about the health of Europe's banks.

Bank of America Reported Cutting 3,500 Jobs

Bank of America is cutting 3,500 jobs this quarter and working on a restructuring that could eliminate thousands of additional positions, the Wall Street Journal reported, adding to a slew of layoff by major banks.
HP CEO Leo Apotheker speaks to the press after delivering the keynote address at the HP Summit in San Francisco

HP may drop PCs, to buy Autonomy for $11.7 bln

Hewlett-Packard Co may spin off the world's largest PC business, part of a wrenching series of moves away from the consumer market, including killing its new tablet and buying British software company Autonomy Corp for as much as $11.7 billion.
U.S. Housing Sector

U.S. Housing: Five Tips for Prospective Home Buyers

U.S. mortgage rates are falling to 50-year lows, even as existing home sales remains soft, with both stemming from uncertainty regarding the outlook for the U.S. economy. In this uncertain time, what should prospective home buyers do? Here are five tips that will help you make an informed home purchase decision.
One kilogram gold bars are seen in this picture illustration

Gold Strikes Record as Macro Unease Jolts Markets

Gold rallied to its second record high in a week on Thursday, driven by growing investor unease over the outlook for the U.S. economy after data showed an unwelcome pickup in inflation, and over the lack of resolution to the European debt crisis.
Traders work on the floor of the New York Stock Exchange

Wall Street Tumbles on Economy, Bank Worries

Stocks tumbled more than 4 percent on Thursday after data pointed to a stalled economy and as bank shares sank on a report regulators were scrutinizing the U.S. units of big European lenders.
A patient waits in the hallway for a room to open up in the emergency room at a hospital in Houston

Health Benefits Report May Miss Deadline

A key recommendation for medical coverage standards under the Obama administration's healthcare overhaul may be issued later than a September deadline, according to the organization preparing the report.

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