IBT Staff Reporter

135631-135660 (out of 154955)

Stocks tumble, yen rises on Bank of America

Stocks slid and the yen rose on Wednesday after news Bank of America needs $34 billion in fresh capital, sending shivers through investors ahead of official results of stress tests on U.S. banks due for release on Thursday.

Texas should rethink power island status: FERC

Texas, the state with the largest number of wind turbines, should consider expanding its transmission ties to other states to take full advantage of its wind potential, the nation's top federal energy regulator said on Tuesday.

Disney looks beyond traditional studio model

Walt Disney Co is developing an Internet subscription service and may consider trimming studio output, executives said on Tuesday after the division posted a 97 percent decline in operating income.

Bankruptcy judge mulls Chrysler plan, GM talks loom

A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.

Bankruptcy judge mulls Chrysler plan as GM talks loom

A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.

Energy firms battered by economic slowdown

Energy power firms posted lower earnings on the first quarter of 2009 Tuesday, resenting from the global economic slowdown which has reduced power demand across the nation.

GM details plans to wipe out current shareholders

General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the U.S. government, bondholders and the United Auto Workers union.

Disney quarterly profit beats Wall Street forecasts

The Walt Disney Co posted a 26 percent earnings drop on Tuesday as the global downturn ate into ad sales and consumer spending, but company executives said the worst may be over for its key media networks and theme parks businesses.

Many stress test banks won't need help: Bernanke

Federal Reserve Chairman Ben Bernanke, seeking to soothe markets worried about the eagerly awaited government stress tests of 19 big banks, on Tuesday downplayed the possibility of new taxpayer bailouts.

U.S. charges father of money market funds with fraud

The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.

Father of money market funds charged with fraud

The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.

Chrysler holdouts must say who they are, judge says

A small group of Chrysler's lenders who have objected to the Obama administration's plan for a quick dash through bankruptcy must identify themselves, in spite of death threats, a U.S. judge ruled on Tuesday.

Oprah offers free KFC

Oprah has teamed up with fast food giant KFC to offer its newest menu item free of charge as part of its “unthink” campaign.

Broadcom turns hostile after Emulex rebuffs bid

NEW YORK (Reuters) - Broadcom Corp's (BRCM.O) $764 million bid for Emulex Corp (ELX.N) turned hostile on Tuesday as the chipmaker took its offer directly to Emulex shareholders at the same price that the company had rejected.

U.S. drafts rule to lower CO2 output from biofuels

NEW YORK - U.S. President Barack Obama's administration issued a draft rule on Tuesday aiming to cut greenhouse gasses emitted by biofuels but confirming his predecessor's target for production of corn-based ethanol.

Opel labor leader says Fiat deal risks everything

FRANKFURT - The senior labor leader of German carmaker Opel (GM.N) warned that Fiat's (FIA.MI) ambitious growth strategy was an all-or-nothing bet, rejecting the Italian rival's takeover concept for the GM Europe brand.

Government may own at least 50 pct of GM

GM General Motors Corp. says it may offer current shareholders a reverse stock split where they would receive one share of new stock for every 100 shares they currently own.

SEC charges father of money market funds with fraud

The father of money market funds, Reserve Primary Fund founder Bruce Bent Sr., was among those charged with fraud on Tuesday by securities regulators for allegedly failing to tell investors about the fund's vulnerability to Lehman Brothers' bankruptcy.

Fed rejects request to help credit card holders

The U.S. Federal Reserve rejected a request to force credit card companies to immediately halt retroactive interest-rate increases on existing balances, Democratic Senator Charles Schumer said on Tuesday.

Communicate That You Are Well Organized

If “lean and mean” meant something in the work force two years ago, that motto has ascended to near mantra status by now. Clearly--whether by choice or circumstance--companies are trying to get the job done with fewer employees.

Pages