COMPANIES

National City Corp, one of the 10 largest U.S. banks, on Wednesday said it will cut its common stock dividend 49 percent and eliminate 900 jobs as it stops offering mortgages through brokers, and it plans to raise more capital to cope with weakened credit markets. The Cleveland-based company cut the quarterly dividend to 21 cents per share from 41 cents. Chief Executive Peter Raskind said the cut ...

Passengers are greeted with a new flight restriction from January 1, as the U.S. Transportation Department bars travelers from packing loose lithium batteries in checked luggage.

The pace of existing home sales edged up in November from a record low, according to a report on Monday that offered some tentative signs of stabilization in the still-ailing housing market.

As more banks report write-downs tied to the global credit crunch, analysts say Wachovia Corp may have losses lurking in an area that has garnered less investor attention.

Wal-Mart Stores Inc quietly canceled its online video download service less than a year after the site went live

U.S. and European banks including Citigroup Inc and HSBC Holdings PLC are considering selling off

Former First Republic Bank shareholders sued Merrill Lynch & Co on Friday accusing the Wall Street investment bank and brokerage of hiding billions of dollars of losses related to subprime mortgages while the companies' merger was pending.

Macy's, Inc. on Friday announced the closing of nine underperforming Macy's stores, affecting 899 employees in Indiana, Louisiana, Ohio, Oklahoma, Texas and Utah.

Warren Buffett's Berkshire Hathaway Inc, in its second acquisition this week, agreed to buy the NRG NV reinsurance unit of ING Group NV for about 300 million euros ($441 million).

U.S. and European banks including Citigroup Inc and HSBC Holdings PLC are considering selling off parts of their businesses as they prepare for tough times ahead, the Wall Street Journal reported.

Billionaire Joseph Lewis disclosed in a regulatory filing on Wednesday that he has increased his stake in hard-hit investment bank Bear Stearns Cos to 9.57 percent.

Apple Inc and News Corp.'s Twentieth Century Fox are set to announce a deal that will allow consumers to rent movies through Apple's digital iTunes Store, media reports said on Thursday.

Berkshire Hathaway Inc, the conglomerate headed by billionaire investor Warren Buffett, said on Tuesday it planned to buy 60 percent of manufacturing and services group Marmon Holdings Inc. for $4.5 billion.

If you thought finance had nothing to do with angels, think again.

U.S. stocks jumped the most in three weeks on Friday,

Last summer's slew of toy recalls has not faded from U.S. consumers' minds

A Chinese appeal court upheld an earlier music piracy ruling on Thursday, that found Yahoo China guilty of allowing mass copyright infringement through music downloads from its Website, the International Federation of the Phonographic Industry (IFPI) said.

U.S. shoppers, come out, come out, wherever you are. Super Saturday, the last Saturday before Christmas, is often the biggest shopping day of the holiday season, according to the National Retail Federation.

Tribune Company said Thursday that it has completed its deal to go private with real estate magnage Samuel Zell taking over as chairman of the board and chief executive officer.

Campbell Soup Co., the world’s largest soupmaker, said on Thursday it has agreed to sell its Godiva Chocolatier unit to Yildiz Holding A.Z. for $850 million. Yildiz, the owner of the Ulker Group, is the largest consumer goods company in Turkish food industry with biscuits, chocolate, confectionery, food and beverages and dairy businesses.

Nations are making deals with top exporters to to get enough oil and develop new projects to boost economic growth.

Bear Stearns Cos Inc posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages. It was the first loss in the company's history, and the bank decided top executives would not receive bonuses.

Nike Inc, reported Wednesday that its second quarter net income grew 10 percent, gained on international sales growth and athletic footwear.

Oracle Corp posted a 35 percent rise in quarterly profit on strong new software sales, beating expectations at a time when investors are wary that growth in technology spending may be slowing.

In a bid to ease the effects of the credit crunch and high borrowing costs, the Bank of England has lent £10 billion to financial institutions and banks. Different borrowers bid for the cash in an auction.Those who bid at the minimum rate of 5.36% received 75% of the amount they requested. The total amount of money bid was £850 million over the £10 billion promised by the Bank.The average i...

Nikko Cordial Corp., a major Japanese brokerage firm and the holding company for Nikko Cordial Securities and other subsidiaries, announced on Wednesday that it has obtained shareholder approval to become a wholly owned subsidiary of Citigroup Inc., a major U.S. bank through an equity swap under a triangular merger.

U.S. consumer electronics leader Best Buy Co reported a better-than-expected 52 percent jump in third-quarter profit on Tuesday on strong sales of laptops and video games, and raised its full-year earnings forecast.

The Federal Communications Commission approved new rules that will unleash a flood of media consolidation across 20 biggest U.S. cities, in spite of objections from consumer groups and threats from some U.S. senators.

Goldman Sachs Group Inc said on Tuesday fourth-quarter earnings rose 2 percent, beating expectations and capping a record year, but its shares fell after the investment bank cautioned that markets will remain challenging in the near future.