The motives that propelled alleged rogue trader Jerome Kerviel to trade huge amounts of money, ending in accusations of fraud from his bank, Societe Generale, are coming to light after a partial transcript of prosecutor questioning was released.
IAC/InterActiveCorp, parent company of LendingTree, reacted on Tuesday after its controlling shareholder Liberty Media Corp asked a court to remove IAC Chairman Barry Diller, saying Liberty's request was preposterous and a incomprehensible.
EBay Inc. said on Tuesday it will reduce the fees it charges sellers to list their goods online by about 50 percent in an effort to retain and attract more sellers while improving customer service.
Current Media Inc., a TV network and web site founded by U.S. Vice President Al Gore, filed papers for an initial public offering on the Nasdaq stock market worth as much as $100 million.
Yahoo Inc reported a drop in quarterly profit on Tuesday and its shares fell nearly 7 percent as Chief Executive Jerry Yang predicted a tough 2008 amid a weakening U.S. economy. Yahoo reported a fourth-quarter profit of $205.7 million, or 15 cents per share, down from $268.7 million, or 19 cents per share, a year ago.
Is the Starbucks formula the ticket for restaurant chains to take their brands national? More than one startup in the food industry is modeling itself after the successful coffee group.
Walt Disney's ABC Network has come under the line of attack by the Federal Communications Commission, five years after airing an obscene NYPD Blue episode and will be fined a collective $1.43 million.
CME Group Inc, the world's largest derivatives exchange, hopes to broaden its reach by adding the energy and precious metals mart Nymex, the companies said on Monday. Under the terms being discussed, Chicago-based CME would pay Nymex Holdings Inc shareholders $36 in cash and 0.1323 of a CME common share for each Nymex share owned, valuing the deal at about $11 billion.
A prosecutor has asked for preliminary charges against alleged rogue trader Jerome Kerviel, accusing him of abuse of trust, attempted fraud, and forgery after French bank Societe Generale said he made unauthorized deals which led to a loss of 4.9 billion euros ($7.1 billion).
The junior financial trader accused of making huge unauthorized trades leading to a loss of 4.9 billion euros ($7.1 billion) at France's Societe Generale Bank was being held in police custody in Paris for questioning, according to media reports.
Wall Street banks face a big challenge: a U.S. economy on the edge of recession
Higher interest rates, a rising yuan and stock market volatility pose stiff challenges for Chinese insurance companies, the industry regulator said on Friday.
Mizuho Financial Group will join forces with India's top bank, State Bank of India, on syndicated loans and other areas, as Japan's second-largest lender looks to capitalize on the growing Indian economy.
India's Dr Reddy's Laboratories Ltd posted an unexpected net loss for the December quarter as it wrote off $60 million of costs for its underperforming German unit and saw revenues decline.
Dunkin' Donuts said on Friday it plans to open its first shop in Shanghai this spring as part of its move into the Chinese market.
Nissan Motor has been hurt less by the yen's strength than other companies, thanks to its strategy of producing cars for the U.S. market locally, Chief Executive Carlos Ghosn said on Friday.
Blackstone Group LP, the U.S. private equity company, is setting up a $675 million fund to invest in Brazil and will contribute $500 million in capital, the Valor Economico newspaper said on Friday.
Citigroup Inc awarded Chief Executive Vikram Pandit $26.7 million of shares and 3 million stock options, six weeks after he took over the largest U.S. bank, and a week after reporting a record $9.83 billion quarterly loss.
Wall Street banks battered by mortgage and credit losses survived 2007 only to face an even bigger challenge: a U.S. economy on the edge of recession.
Business leaders said they were aghast by the culture of banking and its excesses following revelations that a trader at French bank Societe Generale had lost $7 billion through possible fraud.
U.S. investment bank Goldman Sachs plans to release about 5 percent of its global workforce in coming months, a company spokesman said on Friday.
Carlsberg and Heineken on Friday finally agreed a cash bid of 7.8 billion pounds ($15.3 billion) to buy and break up Scottish and Newcastle (S&N) to boost the Danish brewer's position in Russia and the Dutch group's presence in western Europe.
France stepped up efforts to restore confidence in the banking system as Societe Generale faced tough questions on Friday over why it failed to prevent the biggest financial dealing scandal in history.
The rogue trader who is said to have caused 4.9 billion euros ($7.2 billion) in losses at Frech bank Societe Generale carried out huge unauthorized trades in secret, overcoming high security controls, company officials said.
Oracle Corp. Chief executive officer, Larry Ellison sold one million shares of common stock under a prearranged plan.
Xerox Corp. shares on Thursday gained eight percent after its report about an increase in profits boosted by color unit sales and ac acquisition.
Morgan Stanley, Lehman Brothers Holdings, Inc. and Credit Suisse Group are cutting over 1,640 jobs, according to people familiar with the matter, Bloomberg reported.
Finnish telecoms giant Nokia has reported net sales of 15.7 billion euros in the fourth quarter of 2007, an increase of 34 per cent on the same period in 2006.
ICAP Plc, the world's leading interdealer broker, said on Thursday that it expected pre-tax profit to exceed market expectations thanks to increased volatility in financial markets.
Online readers will not be able to access all content for free on WSJ.com, The Wall Street Journal's website , News Corp chairman Rupert Murdoch confirmed on Thursday at the World Economic Forum.
