Google Inc (NASDAQ:GOOG) faces a federal patent infringement lawsuit by Northeastern University over technology used in its core Web search system, according to legal papers filed last week. The complaint was filed on Nov. 6 in Marshall, in the Eastern District of Texas -- the U.S. court with a history of decisions that are highly favorable to plaintiffs in patent cases -- but the case only came to light over the weekend.
Toyota Motor Corp on Friday detailed plans to study U.S. consumer demand for a version of its hot-selling Prius hybrid that could be recharged at a standard outlet and run on electric power only.
The credit crisis deepened on Friday as Wachovia Corp reported a potential $1.7 billion loss on mortgage-related debt, while credit card company Capital One Financial Corp said more customers are missing payments.
California Gov. Arnold Schwarzenegger, best known in Hollywood for playing the Terminator, said on Thursday he has assumed an unspecified backstage role to bring an end to the screenwriters strike.
Yahoo Inc's chief executive was verbally lashed by U.S. lawmakers on Tuesday over the Internet company's role in helping identify a Chinese dissident who was later imprisoned by the government.
IndyMac Bancorp Inc, one of the largest independent U.S. mortgage lenders, on Tuesday posted a quarterly loss more than five times larger than it had projected, hurt by mounting delinquencies and a collapse in investor demand to buy its home loans. It was IndyMac's first quarterly loss since the fourth quarter of 1998.
Google Inc on Monday spelled out long-rumored plans to enter the mobile phone market in 2008 by building software that could help the industry make the Internet run more easily on phones.
California faces a double-digit fall in housing prices over the next year and a half, a major builder, a lender and the state treasurer said on Monday in a discussion of how long the subprime mortgage crisis would drag on the Golden State.
Shares in Citigroup Inc rose 5 percent in their debut on the Tokyo Stock Exchange on Monday, a day after the U.S. bank's head resigned to take responsibility for spiraling losses on subprime-related investments.
A souped-up Chevy Tahoe sports utility vehicle with a mind of its own was declared the winner of a robot car race on Sunday after it traveled without help from humans for six hours and 60 miles
With Americans weary of the Iraq war and U.S. elections on the horizon, Congress is struggling over how to get tough on Iran without giving President George W. Bush a blank check for a military strike.
Chrysler LLC and Ford Motor Co on Thursday reported double-digit drops in October sales, lagging rivals in a slumping U.S. market widely expected to remain under pressure into next year. Chrysler, which also announced plans to slash one-fifth of its factory work force and cut four slow-selling models, posted a 12 percent drop in monthly sales that was deeper than analysts had forecast.
Countrywide Financial Corp posted a $1.2 billion third-quarter loss on Friday as the housing market slumped, but its shares soared after the largest U.S. mortgage lender projected a return to profit this quarter as it slashes jobs and regains its footing. Shares of Countrywide rose $2.87, or 22 percent, to $15.94 in pre-market trading. Stock futures also moved higher.
Four burned bodies found in the path of California's fierce wildfires raised the death toll to at least 12 people, even as firefighters won the upper hand and officials turned on Friday toward assessing the damage.
President George W. Bush, visited San Diego and had an aerial view and tour of the damages caused by wild fires that have wrecked havoc across southern California, forcing more than 500,000 to flee their homes.
California's largest bank, Bank of America (BofA) said that it will contribute to relief efforts in the Southern California fires by donating $1 million through its Charitable Foundation.Bank of America said that this donation is the first in a series of steps it will take to help fire victims and responders; and is now working with city leaders in San Diego and Los Angeles to determine the amount of assistance and resources needed in this endeavor."Southern California families, business and entire communities are in urgent need of immediate aid and we wanted to begin to begin to address that need as quickly as possible," said Janet Lamkin, President of Bank of America California.Chevron, based in San Ramon has also today announced a $500,000 to support fire relief efforts. It said that $400,000 will be given to American Red Cross Disaster Relief Fund and $100,000 will be directed towards local charities and relief efforts in the communities where Chevron operates.Chevron is also providing bottles of water and meals to evicted families.
California wildfires that have destroyed 1,300 homes and forced the evacuation of 500,000 people raged into a fifth day on Thursday but firefighters seized on a break in the weather to largely halt the march of destruction.
Dying winds gave California firefighters their first big break on Wednesday after four days battling wildfires, but San Diego faced more calamity as blazes there burned out of control and kept more than half a million evacuees from returning home.
Relentless wildfires forcing the largest evacuations in California's modern history raged into a fourth day on Wednesday as 10,000 exhausted firefighters hoped for a break in the hot winds whipping the flames.
Towering wildfires burned out of control across Southern California for a third day on Tuesday as 500,000 people fled the San Diego area, and firefighters made a desperate stand to save a mountain town ringed by flames.
Countrywide Financial Corp, the largest U.S. mortgage lender, on Tuesday offered to refinance or restructure up to $16 billion of adjustable-rate mortgages through the end of 2008. The lender said its program may help about 82,000 borrowers who face higher payments stay in their homes.
Wildfires burned unchecked on Tuesday in Southern California, with hundreds of thousands of people forced to evacuate, at least 700 homes destroyed, and little hope for relief from the hot desert winds fanning the flames.
Firefighters hoped for high winds to abate on Tuesday, enabling them to start containing the fast-moving fires that have engulfed a massive swath of Southern California, claimed some 700 homes and sent thousands fleeing.
Countrywide Financial Corp Chief Executive Angelo Mozilo should give up his role as chairman, and the largest U.S. mortgage lender should overhaul its practices for granting stock options, a union-affiliated pension plan urged on Monday.
