Facebook raises $1.5 billion from investors
Facebook has raised $1.5 billion from investors, under terms which the world's No. 1 online social network says gives it a value of about $50 billion.
Citi board raises CEO Pandit's salary to $1.75 million
Citigroup Inc's board raised the salary of Chief Executive Vikram Pandit to an annual base of $1.75 million, from a symbolic $1 per year, the bank said in a regulatory filing on Friday.
Facebook to unveil financials, raises $1.5 billion
Facebook is preparing to open its books this year or early in 2012 to give investors a glimpse into the financial workings of the world's No. 1 social network, after it sealed an oversubscribed $1.5 billion round of financing led by Goldman Sachs.
Fund managers to post higher profits, mixed flows
Fund companies are poised to report higher profits for the December quarter compared with a year ago as rising markets pushed up total assets.
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California’s jobless rate edges up in December; stayed above 12% for all of 2010
The unemployment rate in California trickled up to 12.5 percent in December, from 12.4 percent the prior month – meaning the jobless rate stayed above the 12 percent mark for the entire year, according to the state’s Employment Development Department (EDD).
Regional bank shares up on strong profits
Shares of U.S. regional banks rose on Friday after SunTrust Banks Inc and BB&T Corp reported higher-than-expected quarterly profits.
NYC jobless rate dips, but only because more people gave up looking for work
While it’s true that New York City’s unemployment rate declined to its lowest level in more than a year-and-a-half, it’s primarily due to the troubling reality that increasing numbers of people in Gotham have simply given up looking for work.
Analysis: EA wins new friends with social, mobile games
Electronic Arts , hurt by an industry-wide slump in video game sales, wants to become a big player in a new game -- social and mobile media.
Union membership plunging in the U.S.
According to The Bureau of Labor Statistics, the percentage of unionized American workers dropped to 11.9 percent from 12.3 percent, with the loss of 612,000 members in 2010.
In 2008, unions lost 771,000 workers.
Merrill Lynch revenue up as assets rise
Merrill Lynch's fourth-quarter revenue surged as the No. 2 U.S. brokerage bolstered its ranks of financial advisers and added client assets.
WTO final Boeing subsidy ruling seen on January 31
The World Trade Organization will issue a confidential final ruling on January 31 concerning European claims that Boeing benefited from unfair aircraft subsidies, sources familiar with the case said on Friday.
NYC unemployment rate eases to 8.9 pct in December
New York City's unemployment rate fell two-tenths of a percentage point to 8.9 percent in December from November, but the tourism-related sector hired fewer workers than expected, labor experts said on Thursday.
Debate on jobless rate may shape Fed policy
The U.S. Federal Reserve's latest $600 billion bond-buying program is built on the idea that most of the stubbornly high unemployment rate is reversible, if only borrowing costs are pushed low enough.
Mexico Dec unemployment rate falls to 4.94 pct
Mexico's unemployment rate fell more than expected in December, dropping to 4.94 percent in a sign that an economic recovery is gaining traction, data from the national statistics agency showed on Friday.
BofA posts net loss after writedown
Bank of America Corp, the largest U.S. bank by assets, reported a second straight quarterly net loss, hurt by a $2 billion writedown of the value of its mortgage business.
Orange seen eying stake in Dailymotion: report
France Telecom's Orange is in talks to buy a stake of between 30 percent and 50 percent in video-sharing web site Dailymotion, a blog on the website of French weekly L'Express said on Friday.
Instant view: Bank of America posts loss, shares fall
Bank of America Corp, the largest U.S. bank by assets, reported a second straight quarterly loss, driven by a $2 billion writedown of its mortgage business.
Brazil's Rousseff plans payroll tax cuts - report
Brazil's President Dilma Rousseff plans a series of payroll tax cuts in coming years in a bid to promote formal hiring at domestic companies, Folha de S. Paulo newspaper reported on Friday, giving no details of its sources.
Reliance Q3 profit up 28 percent but lags forecast
India's largest listed company, Reliance Industries Ltd , posted its highest ever quarterly profit on higher refining and petrochemical margins, but lagged market estimates.
Ex-banker linked to WikiLeaks to be held in custody over weekend
The Swiss prosecutor's office said on Friday former banker Rudolf Elmer would be detained over the weekend after police questioned him this week over possible fresh breaches of Swiss bank law.
Orange seen eyeing stake in Dailymotion: report
France Telecom's Orange is in talks to buy a stake of between 30 percent and 50 percent in video-sharing web site Dailymotion, a blog on the website of French weekly L'Express said on Friday.
Spain plans partial nationalization of savings banks
Spain plans a partial state takeover of its weakest savings banks as it seeks to reassure investors a rescue will not weigh on its deficit.
Obama names GE's Immelt head of new economic panel
President Barack Obama will name General Electric Co. Chief Executive Jeffrey Immelt to head a new advisory panel focused on promoting economic growth by investing in business, the White House said on Friday.
BofA posts loss on writedown
Bank of America Corp, the largest U.S. bank by assets, reported a second straight quarterly loss, driven by writedowns in the value of its mortgage business.
Warner Music looking for potential buyers: source
Shares in Warner Music Group climbed over 20 percent in premarket trade on Friday.
BMO upgrades two staffing companies - Hudson Highland, On Assignment
BMO Capital Markets upgraded two U.S.-based staffing companies, On Assignment Inc (ASGN) and Hudson Highland Group (HHGP) to 'Outperform' from 'Market Perform.'
Obama names Immelt head of new economic panel
President Barack Obama will name General Electric Co. Chief Executive Jeffrey Immelt to head a new advisory panel focused on promoting economic growth by investing in business, the White House said on Friday.
Wipro net profit jumps 10 pct
Wipro, India's third-largest software exporter, said a deluge of outsourcing orders helped the company see its third-quarter jump 9.6 percent.
Analysis: Hu addresses U.S. stress over China high-tech drive
China's plan to change itself from a major manufacturer to a leading global source of innovation poses an enormous challenge for U.S. companies whose competitive edge depends on coming up with the next big idea.
Exclusive: Hughes Communications up for sale: sources
Hughes Communications Inc , majority owned by private equity firm Apollo , has hired Barclays Capital to advise on a sale of the company, people familiar with the matter said.
HSBC cuts 500 U.S. jobs, pares credit card work
HSBC Holdings Plc is laying off about 500 employees as it ends credit card customer service and collections work at a center in New Castle, Delaware.
Instant view: Google profit beats, Page becomes CEO
Internet powerhouse Google Inc beat Wall Street's quarterly sales and profit estimates, and announced that co-founder Larry Page would take on the role of chief executive, overseeing day-to-day operations of the company. Its shares rose 1.9 percent.
Instant view - Google profit beats, Page becomes CEO
Internet powerhouse Google Inc beat Wall Street's quarterly sales and profit estimates, and announced that co-founder Larry Page would take on the role of chief executive, overseeing day-to-day operations of the company. Its shares rose 1.4 percent.
JPMorgan shuffles M&A team, hires Cravath lawyer
JPMorgan Chase & Co shuffled the management of its deals advisory business on Thursday, moving two long-time managers to senior relationship roles and hiring a prominent corporate lawyer.
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