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Offshore Tax Havens Under Attack with Latest Senate Bill

A bill proposed in the U.S. Senate on Monday would shut down some offshore tax haven opportunities.

Microsoft announces Surface's entry into overseas markets at CeBIT

Microsoft announced at the CeBIT trade show in Hanover on Monday that it's rolling out its Surface computer to 12 new markets in Europe, the Middle East and Africa.

Offering help, hope, U.S. job clubs see surge

Tom Skidmore has been out of work only since December. But when his former employer filed bankruptcy in January and his severance evaporated, Skidmore knew he didn't have much time. As the sole breadwinner for his family of five, he had to find work fast.

Nine suspected pirates handed over to Somali authorities

On Monday the U.S. Navy handed over nine suspected pirates to authorities in northern Somalia after determining there was not enough evidence to put them on trial.

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Obama announces changes to US healthcare

President Baraka Obama announced changes to the healthcare system on Monday, appointing two key officials, including a new Health and Human Services secretary.

Yahoo fined by Belgian court for refusing to help convict internet cons

A Belgian court fined Internet search engine Yahoo €55,000 ($69,300) on Monday for failing to hand over personal account information of users suspected of committing fraud online.

Dow ends under 7,000, S&P tests 700 on AIG fallout

U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of the damage to the financial system.

AIG fallout pushes Dow under 7,000, S&P tests 700

U.S. manufacturing contracts, consumer spending up

U.S. manufacturing shrank at a less severe pace last month and consumer spending bounced back in January, data showed on Monday, but the improvement was likely a blip amid a rapidly deteriorating economy.

U.S. energy policy focuses less on OPEC oil supply

Recent comments by U.S. Energy Secretary Steven Chu appear to mark a radical shift in U.S. energy policy away from its focus on OPEC and oil supply and toward an agenda of trimming petroleum demand and promoting renewable energy at home.

AIG has $61.7 billion loss, new U.S. aid may not be last

American International Group Inc posted a record $61.7 billion quarterly loss on Monday and got a new but not necessarily final government bailout, after officials concluded again that letting the insurer fail would threaten the world financial system.

Oil drops 10 percent as economic gloom outweighs OPEC

Oil prices dropped nearly 10 percent on Monday as a deteriorating world economy threatened to cut further into fuel consumption, outweighing OPEC's strong compliance with supply curbs.

Wendy's/Arby's posts 4Q loss

Wendy's/Arby's Group Inc., the third largest U.S. fast-food chain, said Monday it posted a quarterly loss of nearly $400 million due to recent negative trends in operating performance, the downturn in the economy and adverse stock market conditions.

Oil drops toward $40 a barrel on economic gloom

Oil prices dropped more than 10 percent on Monday as a deteriorating world economy threatened to cut further into fuel consumption and made OPEC's tight compliance with supply curbs look insufficient.

HSBC in $18 billion rights issue, retreats from U.S.

HSBC launched Britain's biggest rights issue, raising 12.85 billion pounds ($18.1 billion) on Monday to help it overcome big losses in the United States and exploit the woes of weaker rivals.

Donors pledge $4.48 billion to rebuild Gaza, shun Hamas

International donors pledged $4.481 billion on Monday to help the Palestinian economy and rebuild Gaza after Israel's three-week offensive, insisting their funds bypass the territory's Hamas rulers.

Nokia halts sale of XpressMusic 5800 due to faulty conditions

The Nokia's XpressMusic 5800 which was on sale in the US market last week was halted by the company.

February auto sales seen hovering at 27-year lows

Auto sales likely hovered around 27-year lows in February as consumers mostly stayed away from buying big-ticket items, spooked by job losses, the deep recession and tight credit.

Febuary auto sales seen hovering at 27-year lows

Auto sales likely hovered around 27-year lows in February as consumers mostly stayed away from buying big-ticket items, spooked by job losses, the deep recession and tight credit.

Wyeth's Prevenar vaccine approved in Russia

Wyeth has won approval to sell its top-selling pneumococcal vaccine Prevenar in Russia and expects to launch the product there later this year, the U.S. drugmaker said on Monday.

Brazil's Bovespa plunges 3 % on global downturn

Brazil's benchmark stock index plunged 3%in early afternoon trade on Monday, tracking a sell-off in global markets on concerns the financial crisis is deepening after insurer American International Group posted a record quarterly loss.

International Paper Slashes Dividend by 90%

International Paper Co. slashed its quarterly dividend by 90 percent to 2.5 cents on Monday to save about $100 million a year and use the extra cash to pay the debt.

Priceline sees business travel drop

The U.S. recession will be a strong headwind for the travel industry for the foreseeable future, with business travel especially feeling the pinch, the chief executive of online travel agency Priceline.com said on Monday.

AIG fallout, economic worry slam Wall Street

Stocks slid on Monday in a broad sell-off as a record $61.7 billion quarterly loss at embattled insurer American International Group fueled fears that the global financial crisis is spiraling widely.

AIG has $61.7 billion loss, new aid may not be last

American International Group Inc posted a record $61.7 billion quarterly loss on Monday and got a new but not necessarily final government bailout after officials concluded again that letting the insurer fail would threaten the world financial system.

Oil dives beneath $41 on economic pessimism

Oil fell below $41 Monday as a deteriorating world economy threatened to cut further into fuel consumption and made OPEC's tight compliance with supply curbs look insufficient.

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