COMPANIES

Indian police alleged Thursday that two auditors working for an Indian unit of PriceWaterhouseCoopers colluded with the company's Chairman to perpetrate fraud at Satyam Computer Services.

Pharmaceutical firms added to uncertainty in their industry on Thursday after Astrazeneca announced major job cuts and Eli Lilly & Co. reported a fourth quarter loss.

The Swiss government told investment bank UBS it may have to slash bonuses by more than 80 percent after taking state aid, the Financial Times reports.

Online retailer Amazon.com Inc. recorded higher than expected results during the fourth quarter, as profit grew 8.7 percent.

Royal Dutch Shell Plc posted a fourth quarter net loss of $2.81 billion or 44 cents a share in the fourth quarter

Bank of America is planning to defer 2008 bonus payments to some staff at its capital-markets and investment banking units, the Financial Times reported quoting executives familiar with the matter.

Eli Lilly and Co. had a net loss of $3.629 billion in the fourth quarter citing charges from the acquisition of ImClone Systems Inc.

Honda Motor Corp. Executive Vice President Koichi Kondo doesn't expect any further major changes to its profit outlook this year, following a profit forecast cut on Friday.

Ford reported heavy losses of $5.88 billion in its latest quarter. Analysts said the losses were due to a strong decline in demand for vehicles but Ford said it won't need a bailout from the Federal government.

Sony Corp. said Thursday its profit for the third quarter fell to 10.4 billion yen ($114 million), or about 10 yen a share. The company attributed losses to a strong yen, falling investments, and losses at its financial unit.

Federal inspectors found that a food plant in Blakely, Georgia, -- responsible for a salmonella outbreak -- knowingly shipped contaminated peanut butter products and they reported of finding roaches, mold on walls and ceilings, and a leaking roof in the location.

Starbucks Corp, the world's largest chain of coffee shops ,said Wednesday it will close 300 stores and reduce as many as 6,700 jobs.

DBS Group Holdings announced Thursday that its Chief Executive Officer Richard Stanley, 48, has been diagnosed with leukemia and will begin treatment immediately.

Shares of major banks in the U.S. rose early Wednesday pulling up the financial sector on optimism that President Barack Obama's administration may go ahead with a plan to buy bad assets in the financial system creating the so-called bad bank.

Wells Fargo said Wednesday it swung to a fourth quarter loss of about $2.6 billion, hurt by credit write-downs to reduce the need for future loan loss provisions on Wachovia Corp's risky assets.

Boeing Company reported Wednesday its net income in the fourth quarter of 2008 plunged to a loss of $56 million, on a strike, a charge related to the 747 and a litigation reserve.

The efforts of the U.S. government and the Treasury Department to avoid misuse of bailout funds amid an unprecedented financial crisis in America has led Citigroup Inc. on Tuesday to cancel its move to take possession of a new corporate jet which had planned to buy.

Best Buy Co. and Target Corp. said Tuesday they are cutting jobs to reduce costs as they face lower consumer spending at their stores.

Yahoo Inc. reported a fourth quarter net loss Tuesday but its earnings after adjustments on one time charges beat Wall Street forecasts as it launched initiatives to reduce costs. Yahoo reported a net loss of $303 million on $1.81 billion in revenue.

Spanish bank Santander said Tuesday it will repay its clients who resulted victims of Bernard Madoff's fraud, to avoid been sued and keep the reputation of the company.

New York's attorney general Andrew Cuomo on Tuesday issued a subpoena to former Merrill Lynch Chief Executive John Thain to testify on the payment of bonuses to executives worth $4 billion.

A Fedex ATR-42 Plane crashes at Lubbock Preston Smith International Airport, Texas Tuesday approximately 4:40 a.m. in freezing mist.

Chemical maker DuPont Co. reported Tuesday a loss of $629 million in the fourth quarter, as declines in construction, motor vehicle sales and consumer spending caused a steep decline in global industrial production and diminished demand and the volume of the company's sales to more than 20 percent in the quarter.

India's biggest consumer goods maker Hindustan Unilever Ltd (HUL) has reported a 2.5 percent dip in earnings in the December quarter, attributing it to slowdown in demand.

HDFC Bank has reported 45 percent jump in net profit in the December quarter (Q3), despite witnessing an increase in bad debts.

Private sector lender Axis Bank (formerly called UTI Bank) said its quarterly net profit has risen 63 percent, attributing it to robust growth in fee and trading income.

Delta Air Lines Inc, the largest airline of the world, said today it recorded a loss of $1.4 billion in the fourth quarter on charges related to employee stock awards last year, merger costs and fuel hedge losses.

Citigroup Inc spokesman said Tuesday the struggling company will not take ownership of a new $50 million business jet aircraft after receiving scrutiny of the purchase.

Corning Inc, the largest maker of liquid crystal display glass in the world, will cut 3,500 jobs or 13 percent of its workforce as demand for glass used in flat-panel television screens and computers declined.