COMPANIES

Switzerland's UBS, the world's largest wealth manager, had written down more than $49 billion since mid-2007, and it expects more write downs and job cuts in the first quarter.

Canada said on Monday plans set out by the Canadian units of General Motors Corp and Chrysler don't go far enough to make them viable, but it offered C$4 billion ($3.2 billion) in bridge loans to tide the automakers over while they restructure.

Arena Pharmaceuticals said its experimental obesity drug helped patients shed only about 10 pounds more than those taking placebos, sending its shares down 27 percent.

The Italian luxury goods sector expects a 21 percent drop in EBITDA this year as the global crisis cuts into sales, fashion industry foundation Altagamma said on Monday

Goldman Sachs Group Inc last year paid a combined $58 million to Co-President Jon Winkelried and General Counsel Gregory Palm, buying out two top executives suffering from a severe cash crunch.

President Barack Obama seized the wheel of the failing U.S. auto industry on Monday, forcing out General Motors Corp's chief executive, pushing Chrysler LLC toward a merger and threatening bankruptcy for both.

China Construction Bank (CCB), the world's second-largest lender by market value, said on Monday it would be reasonable for major shareholder Bank of America to reduce its stake to 10 percent.

BHP Billiton, the world's biggest miner, has gained support from top investors to get back on the acquisition trail following last year's failed bid for rival Rio Tinto, a newspaper report said on Sunday.

Switzerland's UBS is expected to announce more writedowns and job cuts in the coming days, Swiss newspaper Sonntag reported on Sunday.

Leave the flash car at home, spend the night in a hotel, hire a bodyguard. This is the kind of advice security experts are giving bank executives who fear attacks from people angered by the financial crisis.

ING has shelved plans to apply for a banking license in China and plans to exit one of its two insurance joint ventures there, as it looks to shore up its capital needs, a top executive said on Thursday.

Best Buy Co posted a 23 percent drop in quarterly profit on Thursday, but its adjusted results topped Wall Street estimates as the retailer said it got a boost from stronger-than-expected consumer demand.

FedEx Corp is threatening to cancel the purchase of billions of dollars worth of new Boeing Co cargo planes if Congress passes a law that would make it easier for unions to organize at the package-delivery company, the Wall Street Journal said.

McCormick & Company Inc. said Tuesday, its first quarter sells revenue declined 1% and its profit increased 12 %, due to Lawry’s acquisition and consumers cutting back to save money, Alan D. Wilson, President and CEO said.

U.S. Stifel Financial Corp will acquire up to 55 branches of UBS Wealth Management Americas to expand across the United States in a deal that will boost the investment bank's profit in the first year.

The Insurance Institute of Highway Safety said on Tuesday that four of 12 small SUVs it tested received its top rating for their ability to withstand roof damage in rollover accidents that often prove deadly.

World airlines are set to lose $4.7 billion this year as a result of the global recession that has shrunk passenger and cargo demand, industry body IATA said on Tuesday.

General Electric Co. lost its AAA rating from Moody’s Investors Service for the first time in 40 years less than a week after GE said its finance unit would post a profit during the global recession and credit crunch.

Communications holding company, AT&T, said on Monday it plans to invest in 3G wireless expansions as part of 2009 growth programs.

Oracle Corp. announced that it has agreed to acquire Irvine-based Relsys International Inc., a developer of drug safety and risk management software for the health care industry, which will become part of its Health Sciences Global Business Unit.

Daimler shored up its capital base and secured Abu Dhabi as a friendly investor in a deal some analysts said revealed how tough the auto industry crisis was proving for the luxury German group.

There is a gaping hole where one of the world's tallest buildings is supposed to go up.

Starbucks, Costco Wholesale Corp and Whole Foods Market are joining forces to propose alternatives to a bill that makes it easier for workers to unionize but is strongly opposed by U.S. corporations.

Chinese health authorities said on Saturday that they had found no evidence of cancer-causing chemicals in baby products made by U.S. company Johnson & Johnson.

Government aid requests from General Motors Corp and Chrysler may rise considerably, a top adviser to President Barack Obama's auto task force said in a Bloomberg Television interview.

General Electric Co shares fell 4 percent on Friday as analysts lowered their 2009 profit forecasts for the U.S. conglomerate, a day after a marathon six-hour briefing on GE's financing unit.

Top U.S. movie rental chain Blockbuster Inc beat Wall Street earnings estimates and said it had reached agreements with most creditors to restructure debt due in August.

As they struggle to close ballooning budget deficits amid the worst financial crisis since the Great Depression, many U.S. state and local governments will be tempted to follow the example of Chicago.

UBS, one of the world’s leading financial firms, said Thursday that it is offering to buy back up to 1 billion euros ($1.30 billion) of its outstanding bonds to bolster up the bank’s Tier 1 capital ratio, using the available cash.