Investors affected by Bernard Madoff's $50 billion alleged fraud are likely to start recovering their money in the next month if the cash isn't difficult to trace, said the President of investor protection fund, Securities Investor Protection Corp President Stephen Harbeck said in an interview with Bloomberg.
The world's largest aluminum maker Alcoa Inc. said Tuesday it plans to cut 13,500 jobs or 13 percent of its workers as an action to address the economic downturn.
Adolf Merckle, a German billionaire businessman whose investments ranged from pharmaceuticals to cement, committed suicide in the wake of heavy losses during the current global financial crisis.
Crowds cheers all around as Phil Schiller takes the stage before a packed audience.
With the situation in all the sectors worsening the New Year is proving to be no good for neither companies nor employees.
The upcoming four-day Consumer Electronics Show this week in Las Vegas and the anticipated Macworld event that starts Monday shows distinctiveness.
The machine is billed as the world's first hybrid storage notebook and uses both a SSD and an internal HDD which MSI was planning to show off this coming week at CES.
Ford Motor Co. posted a 32% drop in U.S. light-vehicle sales for December while Toyota Motor Co. reported a 37% fall and Honda Motor Co. had a 35% decline, closing out the auto industry's worst year in more than 15 years.
Apple Inc. Founder and Chief Executive Steve Jobs, a survivor of pancreatic cancer 4 yrs ago, revealed on Monday that his recent weight loss was due to a hormone imbalance.
Samsung Electronics plan to introduce the world slimmest LCD TV at the International Consumer Electronics Show (CES) in Las Vegas this week.
In a bid to improve current weakening vehicle sales, Hyndai and its local affiliate AutoFair Hyundai are now offering a first time one year return program whereby you can simply return your car if you can no longer afford the monthly payments.
Ford has officially announced that its high-performance Shelby GT500 Mustang, which is set to have an official entry at the Detroit Auto Show this month, is to be revealed ahead of its world debut at Motor City in a couple of weeks.
Dell is one of the many technology companies that are taking a long hard look at business operations with the poor global economy looming large, being among the first of the computer makers to see profits drop from the slowdown of computer sales.
US manufacturing activity in December came in weaker-than-expected, falling to a 28-year low, making it the fifth straight month of decline and the lowest mark since June 1980.
CIT Group Inc. completed its exit from all of its home lending business on Tuesday, with two separate sales, noting that it wants to focus on commercial finance.
Moody's Investors Service announced that it is initiating employee disciplinary proceedings after a review of its ratings process for European constant-proportion debt obligations (CPD).
Wachovia falls amid concerns over dividend, joint ventureWachovia Corp shares fell on Monday after concerns that the bank may cut its dividend and buy back its stake in a brokerage venture with Prudential Financial Inc.Shares of Wachovia fell 67 cents, or 4.13 percent, to $15.56 at 3:02 p.m. in late afternoon trading.Analysts at Fox-Pitt Kelton Cochran Caronia Waller indicated risks that Wachovia, along with Comerica and Marshall & Ilsley were most at risk at having their dividen...
H&R Block Inc reported a quarterly profit for the first time in two years on Monday.
Morgan Stanley may have its long-term credit rating cut by Moody's Investors Service, the ratings agency said on Friday.
American International Group Inc will accept up to $5 billion in losses from sales of investments from a dozen insurance units after they suffered $13 billion in writedowns linked to the collapsed subprime mortgage market.
Bank of America Corp. said it will complete its purchase of Countrywide Financial Corp by July 1 and then cut 7,500 jobs as part of the combination of the companies.
MasterCard Inc will pay American Express Co. up to $1.8 billion in a settlement that drops a lawsuit alleging that MasterCard had illegally blocked financial firms from providing American Express cards.
World wine producers face rising challenges from global warming and soaring fuel costs but any resulting price rises will be bearable, the newly re-elected head of the International Organization of Vine and Wine (OIV) said on Friday.
Lehman Brothers Holdings Inc's chief executive Richard Fuld said the fourth largest U.S. investment bank is 'sound' as it matched its previous loss forecast on Monday by restating an unacceptable $2.8 billion loss for the second fiscal quarter.
Oprah Winfrey does it -- and even blogs about it. As more celebrities jump on the detox bandwagon, it's also catching on with the general public. But some medical professionals say these body cleansing diets are not only unnecessary, they can be dangerous.
A group led by NBC Universal appears to be moving forward with plans to acquire The Weather Channel, after Time Warner Inc. withdrew its bid for the channel, according to media reports released on Friday.
Gilead Sciences Inc. said on Friday that its Aztreonam lysine treatment for cystic fibrosis met positive results in a Phase III clinical study designed to determine the safety and efficacy of the drug.
American International Group Inc's financial-products division has come under scrutiny in government probes, The Wall Street Journal reported on Friday.
U.S. senator Charles Grassley asked to scrutinize if the drug maker GlaxoSmithKline Plc withheld safety information that linked its drug Paxil to suicide risk.
Lehman Brothers Holdings, Inc is replacing a pair of its top level managers in the same week it announced an expected $2.8 billion loss for the second quarter.
