Getty Images, Inc, the photo distributor to media outlets worldwide, confirmed in response to media reports this week that that said it is in talks with interested parties to pursue strategic alternatives.
EBay Inc. Chief Executive Officer is set to step down from the company after serving for 10 years at the online auctioneer.
India's New Delhi Television Ltd said on Tuesday it had entered a deal to sell 26 percent in a unit to NBC Universal Inc for $150 million, the latest in a series of consolidation moves in Indian broadcasting.
Mizuho Financial Group's $1.2 billion investment in Merrill Lynch marks a turning point for Japan's once-reeling banks which, after shedding bad debt and rebuilding their businesses, are once again looking for opportunities abroad.
Hedge funds with geared wrong-way bets in hot areas such as commodities and emerging markets are feeling the squeeze from market falls, but some top managers are using this opportunity to pick up stocks they like on the cheap.
Bank of America, the second-largest U.S. bank, said on Tuesday fourth-quarter profit sank 95 percent, hurt by more than $7 billion of losses tied to poor trading decisions and mounting credit woes.Net income for the Charlotte, North Carolina-based company fell to $268 million, or 5 cents per share, from $5.26 billion, or $1.16, a year earlier. Analysts on average expected a profit of 19 cents per share, according to Reuters Estimates.
According to a newspaper report, Sir Richard Branson's Virgin Group is in the process of making an improved offer for the ailing Northern Rock bank.
The European Union's data privacy regulators contradicted Google Inc. views on IP addresses and said they should be regarded as personal information, according to reports Monday.
The U.K. government said on Monday it would assist in the sale of troubled mortgage lender Northern Rock to private buyers by guaranteeing bonds issued by the firm.
BHP Billiton has brought in more banks to help it find the $70 billion it needs to fund its planned takeover of Rio Tinto, Britain's Sunday Times newspaper reported.
Lachlan Murdoch, son of media tycoon Rupert Murdoch, and Australian gaming magnate James Packer launched a joint A$3.3 billion ($2.9 billion) offer on Monday to buy out the Packer-backed publishing company Consolidated Media Holdings CMJ.AX.
Venture capitalists invested the most startup funds in the U.S. in six years, despite a slowdown in the nation's economy, according to a new report.
Ambac Financial Group Inc, a top insurer of bonds, lost its top level AAA financial strength rating on Friday, dealing a blow to its business which relies on the confidence of clients to gain new business.
Food distributor Performance Food Group Co. agreed to be acquired by an affiliate of the Blackstone Group and Wellspring Capital Management in a $1.3 billion deal, the companies said on Friday.
European banking giant UBS, hit hard by the U.S. subprime crisis, will reduce its investment banking business with staff cuts mainly in the U.S., according to an internal memo to employees on Friday.
Shares of Advanced Micro Devices, Inc. rose more than 11 percent on Friday after the chip maker reported quarterly earnings which exceeded expectations.
Wireless phone company Sprint Nextel Corp. on Friday fell the most in 25 years in trading after announcing plans to cut 4,000 jobs and close 125 retail locations in a bid to manage slowing subscriber growth, profit and sales.
Asia's private equity industry largely shrugged off last year's global credit crunch, with assets under management, fundraising and investment rising at double-digit levels, an industry publication said on Friday.
China's banking regulator on Friday laid out its priorities for 2008, saying that it would focus on helping commercial banks sharpen their operations by improving their strategic planning, innovation and services.
UBS, the biggest European casualty of the U.S. subprime crisis, said it was shrinking its investment banking business, cutting staff and drastically scaling down its exposure to risky investments.
Ambac Financial Group, Inc, the bond insurer whose portfolio includes investments linked to the floundering mortgage market, will put off plans to raise equity capital to strengthen its finances as it faces losing its top level credit rating.
General Electric Co posted a 4 percent rise in net profit Friday, meeting Wall Street estimates on strong global demand for its infrastructure unit and film division. Earnings from continuing operations totaled 68 cents per share in the latest period, up from 58 cents in the prior-year quarter. The second-largest U.S. company by market capitalization said its revenue rose 18 percent to $48.59 billion from $41.28 billion a year ago.
High earners with good credit may be heading for trouble as their adjustable rate mortgages adjust beyond their means.
Google.org, the popular search engine's philanthropic venture, said on Thursday it will fund more than $25 million in grants and investments. The funds will be used to fight climate change, poverty, global diseases and will support small businesses.
The subprime mortgage crisis is claiming more victims as shares of bond insurers Ambac Financial Group, Inc. and MBIA, Inc. fell sharply on Thursday over concerns that they could lose their AAA credit ratings.
Merrill Lynch exposed billions more in losses related to the troubled mortgage lending market on Thursday, with newly hired chief executive calling the latest quarterly results clearly unacceptable as the company moves to straighten out its balances. Merrill reported an $11.5 billion write-down in its last quarter, while recording an overall loss of $9.3 billion for the same period.
JPMorgan Chase & Co said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity and auto loans. The bank quadrupled to $1.1 billion the provision it needs to cover continued problems on home equity and subprime mortgage loans.
Mobile phone maker Sony Ericsson posted better-than-expected fourth quarter earnings on Wednesday and said it gained market share in that period and in 2007 as a whole. Sony Ericsson, owned by Ericsson and Sony Corp., said in a statement it made a pretax profit of 501 million euros versus 384 million in the third quarter and 502 million a year earlier. The company's goal is still to become one of the top three players in the industry.
Microsoft is facing additional anti-trust challenges from European regulators, just weeks after the software giant lost a big appeal case against them.
Cloned animals are safe for humans to eat, U.S. regulators said on Monday after a seven year review. The Food and Drug Administration said there were no special risks associated with the cloning technology.