Wal-Mart Stores Inc. is considering acquisitions in its home market as it seeks to open smaller stores and limit its reliance on giant supercenters for growth, the Financial Times reported in its online edition.
U.S. Steel Corp is to acquire Stelco Inc for about $1.1 billion to strengthen its position as a supplier of flat-rolled steel products in North America, the companies said. Stelco, the last big Canadian-owned steelmaker, had put itself on the auction block in June after a wave of takeovers within the Canadian steel industry.
Job losses in the construction sector could top 1 million if a housing downturn tips the economy into recession and tighter access to credit dampens business investment. Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sector in the next few months.
Profit at Merrill Lynch & Co. Inc. could take a big hit if the U.S. brokerage heavyweight cuts the value on nearly $1 billion in subprime lender assets it bought just eight months ago.
General Motors Corp is testing a combustion engine that could increase fuel economy in traditional engines by up to 15 percent, the automaker said on Friday.
The owners of stricken state lender SachsenLB aim to sell the German bank quickly after its near collapse under heavy losses from U.S. subprime mortgages and other risky debt, sources familiar with the matter said.
Fannie Mae's mortgage portfolio swelled in July, when the largest U.S. home funding company bought up cheap mortgage-backed debt, leaving it scant room to grow under current limits set by its regulator.
Russia's largest bank, Sberbank, beat expectations by reporting a 34 percent rise in net profit in its first ever quarterly results to international standards on Friday.
India's Tata Group is interested in acquiring Ford Motor Co's Jaguar and Land Rover brands, the Indian conglomerate's chairman Ratan Tata said in remarks released on Friday.
The new supermarket was slated as the shape of retail to come in globalizing India. Now shutters covered its windows, staff meandered outside and customers picked final bargains before its closure.
U.S. private equity firm TPG is still interested in bidding for loss-making airline Alitalia and is waiting to see what conditions management would put on the sale, a source close to TPG said on Friday.
Three Asian banks' heavy exposure to the limping U.S. home loan sector reinforced global credit wobbles on Friday but Germany, France and Italy saw no signs of new problems.
After three months of feeling lethargic with bouts of blurred vision, 65-year-old Jim Einsweiler walked into a clinic in his local Walgreens pharmacy, mostly, he said, to appease his wife.
The presidential election is 14 months away and with as many as 17 candidates now running, U.S. television and radio broadcasters are elated at the prospect of billions more in advertising dollars.
Gap Inc on Thursday posted a 19 percent rise in quarterly earnings despite sluggish sales at stores open more than a year, helped by cost-cutting, and announced plans for a $1.5 billion share buyback program.
H.J. Heinz Co posted a higher quarterly profit on Friday and said it expects full-year profits to be near the top of its forecast range, helped by new products, the weak dollar and stepped-up marketing.
Home Depot is close to accepting about $1.2 billion less for the sale of its wholesale distribution business to three private equity firms, the Wall Street Journal reported on Thursday.
Wal-Mart Stores Inc said on Thursday it was taking more steps to make sure its toys are safe after Mattel Inc's recall this month of millions of Chinese-made toys.
A worsening credit crunch and its broad impact on financial markets has some dealmakers predicting that leveraged buyouts are on hold for the rest of the year and perhaps well into 2008.
Teen retailer Aeropostale Inc said on Thursday its second-quarter net profit rose 75 percent, helped by lower costs.
Barnes & Noble Inc, the world's largest book retailer, posted a 9 percent rise in quarterly profit on Thursday, helped by higher sales of Harry Potter and the Deathly Hallows, the final book in the popular series.
Private mortgage insurance firms that saw their business shrivel during the subprime lending bonanza of 2005-2006 are set to win back market share if they can weather the current mortgage crisis.
Countrywide Financial Corp Chief Executive Angelo Mozilo warned on Thursday that the housing downturn is likely to lead the country into recession, but called speculation that the largest U.S. mortgage lender might go bankrupt irresponsible and baseless.
BP America said Thursday that it will not take full advantage of a new permit to dump more waste into Lake Michigan, taking into account protests to a refinery modernization expansion project.
AT&T (NYSE: T) announced a two year contract with Global Hyatt Corp. on Thursday to set up an advanced global communications network across 300 of its hotels.
A private equity-led buyout of home-improvement retailer Home Depot Inc's wholesale supply division, due to close on Thursday, could be in trouble because investment banks involved are reluctant to fund the transaction even at a lower price, the Financial Times reported in its online edition, citing people familiar with the negotiations.
Countrywide Financial Corp on Wednesday received a $2 billion injection from Bank of America Corp, helping the largest U.S. mortgage lender shore up its finances as it struggles with a liquidity crunch.
Limited Brands Inc on Wednesday posted a higher second-quarter net profit, helped by a $304 million gain from the sale of its Express apparel business.
Industrial and Commercial Bank of China Ltd, the world's biggest bank by market capitalisation, beat forecasts with a 61.6 percent jump in first-half profit, helped by widening interest margins and fee income growth.
Retailer Macy's Inc is preparing to launch a $100 million fall advertising campaign with celebrities such as Martha Stewart and Donald Trump as it tries to boost its dowdy image and sagging sales, The Wall Street Journal reported on Wednesday.
