Medtronic slashes 1,100 Jobs
Medical technology company Medtronic Inc. said on Tuesday it will cut about 1,100 jobs in the current fiscal year in businesses that are not longer growing at previous rates, the company said.
Fannie Mae Takes Big Loss, Will Raise Capital
Fannie Mae, the largest U.S. mortgage finance company, revealed additional troubles from the U.S. housing downturn as it lost $2.2 billion in the first three months of the year. The Washington-based firm also said it would cut its dividend to investors and raise $6 billion by selling stock.
UBS Set to Slash 5,500 Jobs, Sell Assets
Swiss banking giant UBS announced Tuesday it would cut its workforce by 5,500 over the next year and sell a $15 billion chunk of its risky mortgage assets to BlackRock Inc., after reporting first-quarter losses due to the U.S. subprime crisis.
U.S. Airways April Traffic Slumps, Shares drop
U.S. Airways Group Inc. reported on Monday April traffic slumped 2 percent from 5.25 billion revenue passenger miles last year to 5.14 billion.
More news
Merck Cuts 1,200 sales jobs amid Non Approval of Cordaptive
Merck & Co. said Monday it will cut 1,200 U.S. sales jobs in an attempt to save expenses amid the recent rejection of its Cordaptive cholesterol drug last week.
Ford Seals Canada Labor Pact, GM to Start on Thursday
Ford Motor Co. and the Canadian Auto Workers ratified a three-year labor contract that their union plans to use as a pattern for negotiations with General Motors Corp. and Chrysler LLC.
Iron Man Gets Sequel after $100 mln Weekend
Movie fans rewarded 'Iron Man' with box office success over the weekend and the film's producer Marvel Entertainment returned the favor, announcing a sequel to the film set for release in 2010.
Yahoo Shares Recovering After Early Plunge
Shares of Yahoo fell as much as 20 percent on Monday but recovered slightly after Microsoft withdrew its buyout bid for the Internet portal over the weekend.
Amazon Sues New York Over New Tax Law
Amzazon.com sued the state of New York, challenging it for the new statute that requires Internet retailers based outside New York to collect New York sales taxes.
United Airlines to Ask For Credit Revision: Report
UAL's United Airlines is contemplating asking its banks to revise the terms of its credit facility in a bid to gain crucial financial flexibility to withstand the airline industry's sharp slump, according to media reports released Monday.
Boeing Denies Further Delays of 787 Dreamliner
Boeing Co. denied additional delays to its 787 Dreamliner jet on Saturday, after a report earlier in the day from German newspaper Die Welt said the plane would be held back an additional nine weeks.
Deutsche Telekom Mulls Sprint Nextel Buyout: Report
Deutsche Telekom AG, the owner of T-Mobile USA, is considering buying mobile-phone firm Sprint Nextel, according German magazine Der Spiegel.
Buffett Expects Weaker Dollar
Warren Buffet, the billionaire investor who heads Berkshire Hathaway Inc believes the U.S. dollar will continue to be weaker versus other currencies and was happy to invest in firms which didn't earn income in dollars.
Merrill to Give New Global Sales Exec $39.4 Million Bonus
Merrill Lynch & Co. will give its new global sales and trading executive Thomas Montag a 2008 bonus of $39.4 million, according to a regulatory filing.
Countrywide Rating Cut to 'Junk' by S&P
Countrywide Financial Corp.'s credit rating was cut to junk on Friday by Standard & Poor's rating, after a regulatory filing called into question whether Bank of America would repay the troubled lender's outstanding debt after their planned merger.
Pfizer Makes Deal to Resolve Some Lawsuits over Painkillers: Report
Pharmaceutical company Pfizer Inc. has made tentative deals with patients who took its Celebrex and Bextra pain killer drugs and then sued the company for damages, according to a report from the Wall Street Journal today.
Bristol-Myers to Sell ConvaTec for $4.1 billion, Shifts to Biopharma
Bristol-Myers Squibb Co. said on Friday it will sell its ConvaTec unit to private equity firms Nordic Capital and Avista Capital Partners for $4.1 billion.
GTA 4 poised to dominate Xbox Live
Players of the popular Grand Theft Auto video game series have always reveled in its unique blend of beatings, shootings and vehicular mayhem.
Ethanol loses halo but still has U.S. support
Soaring food prices have shaken U.S. politicians' love affair with ethanol, but lawmakers are unlikely to adjust mandates for a five-fold boost in biofuel until after the November presidential election.
Toyota to Recall 90,000 Highlander SUVs
Toyota Motor Corp. will recall more than 90,000 Highlander sport utility vehicles in the U.S. since a safety regulator noticed the seatbelts fail to secure child seats.
Investors Bet on Marvel as 'Iron Man' Buzz Grows
Marvel Entertainment Inc's prospects are rising as investors lifted the company's stock on expectations of strong box-office results for its Iron Man film.
Stryker gets FDA Warning for Quality Issues, False Documentation
Stryker Corp., maker of orthopedic devices, received another warning from the U.S. Food and Drug Administration related to quality issues and false documents.
Soybeans Rally as Argentine Gov't & Farmers Fail to Resolve Tax Dispute
Soybeans advanced on Friday after the Argentine government failed to lift a ban on beef exports as had been promised earlier this week, raising concerns that farmers and the government may not resolve a dispute over taxes that disrupted crop exports.
Linens 'n Things Seeks Bankruptcy Protection
Home retailer Linens Holding Co., the operator of Linens 'n Things filed for Chapter 11 bankruptcy Friday, blaming declines in the housing market and in consumer spending.
Viacom's Profit Up 33 Pct on 'Rockstar,' Cable Ads
Viacom Inc reported that profit in the first quarter rose 33 percent on strong sales of its Rock Band video game and higher revenues from its cable networks.
Chevron Profit Rises on Record Oil Prices
Chevron Corp's net income for the first quarter rose 9.6 percent as surging oil prices offset narrower refining margins.
Murchison Denies Sinosteel is in Takeover Talks
Murchison Metals Ltd, an Australian iron ore prospector, said on Friday it was not in talks to be taken over by Chinese firm Sinosteel Corp.
Berkshire Hathaway Faces Probe Over Moody's Stake: Report
Connecticut's attorney general is investigating possible conflicts of interest due to Berkshire Hathaway Inc's 20 percent ownership of credit ratings company Moody's Corp.
Lenovo Seeks Bigger Market Share, Looks to Acquire PC Firms: Report
Lenovo Group Ltd, the world's fourth-largest personal computer maker behind HP and Dell, and Acer says it is looking to acquire other PC firms to gain market share.
Herbalife's President Resigns on Incomplete Academic Degree, 1Q Profit Rises
Herbalife Ltd. Maker of nutritional supplements said its president and chief operating officer Gregory Probert resigned as it was discovered he didn't complete an academic degree.
Sony Fiscal Year Profit May Rise 430Pct, Japanese Source
Sony Corp. may probably report an increase of 430 percent of profit for the 2007-2008 financial year ended March 31 since demand for digital cameras, computers and other electronics increased, the newspaper Nikkei reported on Friday.
Odyssey Records Double High First Quarter Profit
Odyssey Re Holdings Corp. the underwriter of insurance reported on Thursday its first quarter net earnings were of $250.9 million or $3.63 a share from $88.6 million or $1.20 a share in the same period last year.
Walt Disney Buys Back Disney Store Chain
The Walt Disney Co. said on Thursday it has taken ownership of 220 Disney Store chains from a subsidiary of The Children's Place Retail Stores Inc. and will close stores within North America.
MetLife's 1Q Net Falls 37 Pct on Investments
MetLife Inc, the largest life insurer in the United States by assets, reported a 37 percent decline in first-quarter net income on Thursday, hurt by investment losses amid the economy's credit crunch.
Pages
- Promoted in Companies
- 1
- 2
- 3
- 4
- 5
Editor's pick
-
Trump Heads To The Gulf Eyeing Deals Amid Diplomatic Offensive
-
Scientists In Mexico Develop Tortilla For People With No Fridge
-
Kim Kardashian To Testify In Paris Multi-million-dollar Robbery Trial
-
Hamas Officials Say Group Held Direct Gaza Ceasefire Talks With US
-
Ukraine Ready For Russia Truce Talks, Zelensky Says
-
Trump's New Budget Boss: Russell Vought To Lead 'Ruthless' Government Cuts After Musk Steps Down
