Trust Company of the West CEO Marc Stern offered to be a sacrificial lamb to keep unhappy star bond fund manager Jeffrey Gundlach at the firm, he testified in court.
The U.S. Justice Department is investigating the rating agency Standard & Poor's over its actions on mortgages leading up to the financial crisis, a source familiar with the matter said on Thursday.
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.
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 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.
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.
Mid- and small-capitalization stocks sank for a third straight day on Thursday in a wide selloff on continued fears about the global economy's growth prospects.
While no deal has been reached yet, Verizon workers left the sidewalks of the telecom company's headquarters and took their strike to the homes of Verizon's top executives, Chairman Ivan Seidenberg and Chief Executive Officer Lowell McAdam, this week.
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.
Hewlett-Packard may announce a bold plan as early as today to completely remake the company -- shedding its PC unit and acquiring enterprise software company Autonomy Corp for $10 billion.
Hewlett-Packard Co. (NYSE: HPQ) will acquire Autonomy Corp. for roughly $10 billion and announce a spin-off of its personal computer business, according to a report.
IBM has developed a new microprocessor the company claims comes closer than anything done before at replicating the human brain.
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.
Oil fell more than $2 dollars on Thursday as a raft of poor economic data provided a fresh blow to shaky investor confidence and extended U.S. oil's losses to 13 percent so far in August.
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 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.
About 27,000 iPhone users in South Korea have sued Apple, claiming the company collects data relating to their location and movement without consent.
Asian airline Cathay Pacific has delayed an ad campaign after a sex photo scandal rocked the company.
The motive behind the killing of 3-year-old Missouri girl Breeann Rodriguez remains a mystery even after a neighbor arrested Saturday has confessed that he suffocated the child with a plastic bag before dumping her body in a ditch.
Netflix will continue its international expansion, rolling out service in Spain in January 2012.
LED maker Cree Inc (CREE.O) on Wednesday said it would pay $525 million for Ruud Lighting Inc, expanding its presence in the market for outdoor lighting systems.
Starbucks CEO Howard Schultz said he has been "stunned" by the response to his call for a boycott on political donations in response to Washington's poor handling of the debt-ceiling issue.
Despite the wave of negative attention Netflix got for raising its prices, Redbox has decided to follow suit and raise the prices on its DVD rental service.
One in five Internet users visited Amazon in the month of June, according to a comScore report.
Google lost the battle with Apple, Microsoft and other in the bid for Nortel Network's 6,000 patents in the extravagant $4.5 billion transaction. The search giant regained some traction with it $12.5 billion dollar acquisition of Motorola in its push for dominance in the mobile market. The buy includes 17,000 patents that Google can utilize in combating legal affairs with rivals such as Apple.
In the 45,000 Verizon worker strike, the company says the dividing issue in labor negotiations is health care. But workers say Verizon wants more than that. They make a very good point.
Television and film actor Burt Reynolds is in danger of getting evicted from his home in southeast Florida.
Apple is being sued by 27,000 South Koreans over privacy issues involving location services in the iPhone and iPad.
Global brewer SABMiller took its $10 billion bid for Foster's Group direct to shareholders on Wednesday just days before the Australian beer group's annual results are set to show flagging profits.
Core producer prices rose at their fastest pace in six months in July on strong tobacco and light truck costs, though weak domestic demand was seen keeping inflation pressures under control.
