COMPANIES

U.S. Bancorp, one of the 10 largest U.S. banks, said quarterly profit fell 65 percent to its lowest level since 2001, as it took a $253 million securities write-down.

GM's Chief Operating Officer, Fritz Henderson said the company was expecting to receive its next bailout loan from the government in several days in order to avoid running out of cash.

Mexican magnate Carlos Slim Helu, also ranked as the world's second richest man, its expanding his business as he reached an agreement with The New York Times to invest $250 on the paper, which is paying back a high interest.

Microsoft Corp. is expected to cut jobs after several major technology firms have been doing it in a response to the economic downturn.

The U.S. government is recommending consumers to avoid eating peanut butter products such as cookies, crackers, cereal, candy and ice cream on risk they may be contaminated with salmonella.

Intel Corp. is slashing prices on chips for desktop computers, notebooks and servers as the economic downturn cuts demand for computers.

Johnson & Johnson reported an increase of 14 percent in its fourth quarter profit Tuesday but issued a lower 2009 forecast.

T3 Technologies Inc will file an antitrust complaint with the European Commission on Tuesday accusing IBM of abusing its power in the mainframe computer industry.

International Business Machines Corp. reported Tuesday a gain of 12 percent on its fourth quarter surpassing forecasts and breaking the trend of dismal results in technology companies hit by the economic crisis.

State Street Corp., net profit dropped 71 percent in the fourth quarter and its shares fell steeply Tuesday as the company announced its after-tax unrealized losses more than doubled.

TD Ameritrade, ranked among the top three biggest online brokers in the U.S., said Tuesday its first quarter profit declined 23 percent and lowered its forecasts for the year citing the economic deterioration in the nation.

As consumer spending shrinks, research about the restaurant market in the U.S. found that growth of restaurant units stopped in 2008 and openings were compensated with closures, according to NPD Group today.

Jewelry maker Cie. Financiere Richemont SA, whose brands include Cartier, Vacheron Constantin and Montblanc, reported its third quarter sales dropped as demand for luxury goods fell dramatically, amid the global economic downturn, the company said.

Toyota Motor appointed its new president Akio Toyoda, grandson of the company's founder, on Tuesday during one of the most challenging economic environments in the automaker's history.

Fiat and Chrysler announced on Tuesday they signed an agreement for a strategic alliance in which Italy's car maker will have a 35 percent stake in Chrysler. The non-cash deal would give the troubled U.S. carmaker access to Fiat's products.

Consumer Foods maker General Mills Inc. -- maker of Cheerios cereal and Yoplait yogurt -- has recalled products associated with the contamination of salmonella in peanut butter.

Shares of Royal Bank of Scotland plunged as much as 67 percent on Monday after investors feared the bank will be fully absorbed by the U.K. government since it forecasted a huge annual loss.

India's government ordered its Serious Fraud Office to investigate two companies that may be linked to the fraud at Satyam Computer Services Ltd. regarded as the largest in India's corporate history.

The French government may help the its troubled auto industry in exchange for raising its ownership in the car makers, industry minister Luc Chatel said.

Fiat Group and Chrysler LLC are in negotiations to form a strategic partnership, a report from Automotive News Europe said on Monday.

Royal Bank of Scotland said Monday it expects its losses for last year could grow to 28 billion pounds or $41.3 billion, the biggest loss registered in U.K.'s corporate history.

Citigroup is planning to sell its Japanese retail brokerage Nikko Cordial Securities, according to a report.

Kellogg Company announced a voluntary recall of some of its peanut butter products because they have the potential to be contaminated with Salmonella.

Apple Inc. chief executive Steve Jobs is standing for re-election for the board of directors of Walt Disney Co. despite taking a six month medical leave from his duties at Apple.

European Union regulators addressed Microsoft Co. on a private statement Thursday complaining that the bundling of Internet Explorer with Windows harmed competition, undermined product innovation and reduced consumer choice, the Financial Times reported Friday.

Sony Ericsson reported loss of 187 million euro or $246 million in the fourth quarter, as the economic downturn lowered consumer spending.

Advanced Micro Devices Inc. announced Friday it will cut 1,100 jobs and make temporary pay cuts to top executives and employees as the company faces the tough economic conditions.

Directors of Satyam Computer Services Ltd.' appointed by India's government were set to meet Saturday to discuss ways the company can receive financing after the state rejected a rescue bid.

The financial unit of automaker Chrysler LLC was granted an additional $1.5 billion to help it make new car loans.