COMPANIES

Retail industry sales results for January were mostly lower, on Thursday, however the largest U.S. retailer, Wal-Mart, exceeded analysts' expectations.

The US economy could be compared to the nation's downturn in the 1970s and if it worsens would best be compared to the Great Depression, said General Electric chief executive Jeffrey Immelt on Thursday.

Shares of Bank of America Corp., the largest U.S. bank, declined sharply to their lowest level since 1984 on Thursday in New York trading on concern that the bank does not have enough capital even with a $138 billion bailout package.

Procter & Gamble Co is seeking to identify potential buyers for its pharmaceuticals brands or other ways to exit the business and is working together with Goldman Sachs Group for this effort, the Financial Times reported.

Billionaire U.S. investor Warren Buffett is taking advantage of depressed share prices during the economic downturn, investing 3 billion Swiss francs ($2.6 billion) in the world's second largest insurer Swiss Re.

Japanese Mitsubishi Motors reported quarterly losses today and warned of its first loss in three years this full fiscal year.

Live Nation, the world's largest concert promoter and Ticketmaster, the leading ticketing and artist-management are likely to agree on a merger as soon as this week, according to a report.

On Wednesday French nuclear giant Areva signed a preliminary deal to provide up to six new-generation reactors to India.

Google launched a software that allows users of mobile phone and wireless devices to know the approximate location of friends and family instantly.

Harry Markopolos, a former financial executive who tried to expose the alleged swindler Bernard Madoff, will tell lawmakers he feared for the safety of his family when U.S. securities regulators ignored evidence in the case, according to a prepared testimony that has been leaked.

Time Warner Inc., the world's largest media company, said earnings will be little changed this year as it struggles with weaker advertising sales and spent about $250 million to slash jobs at its Warner Bros. film studio and AOL Internet unit.

Panasonic Corp., the world's largest consumer-electronics maker, announced on Wednesday that it will cut about 15,000 jobs and says it expects to post its first loss in six years amid a global economic slump.

Walt Disney Company said its first fiscal quarter net profit fell 32 percent . Shares of Disney plunged 6.9 percent to $19.20 but decreased as much as 10 percent during the session following the company's report .

Spectrum Brands Inc., the best known maker of Rayovac batteries and Remington shavers on Tuesday filed for Chapter 11 bankruptcy protection under a heavy debt load.

On Tuesday Motorola Inc. posted a massive fourth-quarter loss as it recorded charges to reflect the dwindling value of its cell phone business.

Swiss bank UBS held talks with Morgan Stanley late last year about a sale of its U.S. brokerage arm -- a unit UBS acquired in 2000 for $11.8 billion formerly known as PaineWebber -- according to a report in the Financial Times Tuesday.

Citigroup will use $36.5 billion to issue mortgages, credit card loans and buy distressed assets in the credit market in the coming months, the Associated Press reports citing a report from the firm.

Japanese electronics company Hitachi on Tuesday forecasted a 700 billion yen ($7.8 billion) deficit as it headed to one of the worst fiscal year loss suffered by a Japanese manufacturer.

Motorola Inc. posted a loss of $3.6 billion in the fourth quarter, suspended its quarterly dividend and named Edward Fitzpatrick as its new chief financial officer Tuesday. The company was hurt by a decline in sales, according to analysts

Swiss bank Credit Suisse plans to cut bonuses for investment bankers by 55 percent, Bloomberg reported on its website on Tuesday, citing unnamed sources.

Dow Chemical Co reported a fourth-quarter loss on Tuesday, as sales dropped 23 percent and volumes fell sharply amid the global economic crisis.

Automaker Chrysler LLC is offering another round of buyout and retirement incentives to hourly workers, a union official said according to the Associated Press

Macy's Inc. announced today it will cut 7,000 jobs, reduce its quarterly dividend and change its operating structure as a strategy to increase sales, profitability and reduce costs. The company plans to reduce expenses by approximately $400 million per year beginning in 2010, and $250 million in 2009.

Humana Inc rose on Monday after the second biggest health insurer in the U.S. unveiled an optimistic forecast for 2009.

Suspense over a possible strike at U.S. refineries continued as the United Steelworkers union prolonged talks with companies on Monday for a new contract involving thousands of workers across the country.

Mattel Inc. the world's largest toy maker said its fourth quarter profit fell 46 percent compared to the same period last year and far below forecasts. Analysts attributed the losses to a stronger dollar and a weak holiday season not seen in decades.

Mining group Rio Tinto is in talks with Chinese state owned aluminum producer Chinalco about selling minority stakes in some of its operations, Rio Tinto said Monday.

There is talk among top U.S. officials about a partial solution to the current financial crisis which involves creating a so-called 'bad bank,' but what exactly is the concept behind it?

Despite a severe economic crisis, advertisers paid TV network NBC a total of $206 million to show their ads during the Super Bowl broadcast Sunday night, setting a new record in revenue for the event.