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Wachovia profit falls on write-downs

Wachovia Corp posted on Friday a 10 percent decline in third-quarter profit, missing forecasts, as the fourth-largest U.S. bank suffered $1.3 billion of write-downs at its investment banking unit.

Wall Street drags on Bank of America

Financial companies led Wall Street lower on Thursday after a sharp drop in Bank of America Corp's earnings stoked worries about the extent the credit crunch has hurt the economy and profits.Bank of America, the No. 2 U.S. bank, said profit plummeted 32 percent as it took large write-downs for leveraged and other loans and recorded losses from structured products, including mortgage debt.

Prescription Drugs Report Stirs Debate

Patients on the U.S. government's Medicare plan could have saved $15 billion in 2007 a report says, striking up a political debate.

Top court rejects appeal by Microsoft, Best Buy

The U.S. Supreme Court rejected on Monday an appeal by Microsoft Corp and Best Buy Co Inc of a ruling that reinstated a lawsuit by the electronics retailer's customers who claimed to have been improperly charged for Microsoft's MSN Internet service.

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Is the credit crisis over? Not so fast

The audacious rise in the Dow industrials to a record will do little to prevent the millions of new "For Sale" signs likely to dot U.S. lawns soon.

Mega-Mansions in Credit Pain

Even the most luxurious, expensive homes are feeling the impact of the credit crunch -- $3 million discounts.

Blackwater on defensive in Congress

U.S. security contractor Blackwater defended its role in Iraq on Tuesday but skeptical lawmakers took aim at the company over a series of incidents, including a September 16 shooting that killed 11 Iraqis.In a testy, partisan hearing, Democrats denounced the contractor for aggressive behavior. The State

Bush signs law cutting student lender subsidies

President George W. Bush signed student loan legislation on Thursday that slashes federal subsidies to lenders such as Sallie Mae, Citigroup, Bank of America and many others.Bush, who had originally called for smaller subsidy cuts, backed the more aggressive legislation drafted by Democrats that will see $11.4 billion in savings go to federal grants for college students.

Depressed? The company just may want to help

Work is likely the last place an employee might go to seek help for depression, but employees who took part in a workplace intervention program had fewer symptoms and were far more productive, U.S. researchers said on Tuesday.

Countrywide sees modifying 25,000 mortgages in '07

Countrywide Financial Corp, the largest U.S. mortgage lender, said on Monday it expects to modify terms on nearly 25,000 home loans this year to help people avoid foreclosures.

NY subpoenas Facebook over safety from predators

New York State Attorney General Andrew Cuomo said on Monday his office has subpoenaed Facebook, accusing the social networking site of not keeping young users safe from sexual predators and not responding to user complaints.

Unathorized Software can Damage iPhone: Apple

Apple said on Monday that unauthorized programs, or hacks, available though the internet that allow the phone to be used with unauthorized service providers could irreparably damage the device.

House bill would let courts alter mortgages

Bankruptcy courts would be allowed to alter mortgages written by predatory lenders in moves that could save 600,000 Americans from foreclosure, according to the author of a bill introduced in the U.S. Representatives on Friday.

When Clint Eastwood calls, legends oblige

Even the biggest stars oblige, giving the actor and director an especially strong pull in making high-profile projects.

Nvidia aims at Intel with integrated graphics chip

Nvidia Corp is rolling out a graphics microchip that will be embedded in the main collection of components that make up a personal computer, as the company goes toe to toe with Intel Corp in the integrated graphics chip market.

No housing woes in booming Washington state

While California suffers in the housing crisis, the economy of nearby Washington state is flourishing with strong job growth and some of the highest appreciation in home prices in the nation.

Arima to sell notebook, server ops to Flextronics

Taiwan's Arima Computer said on Thursday it has signed a letter of intent with Flextronics to sell its notebook PC and server operations to Flextronics for US$191.5 million.

Apple CEO subpoenaed in backdating case: report

Apple Inc Chief Executive Steve Jobs was asked by U.S. securities regulators to give a deposition in a lawsuit against the company's former general counsel involving stock options backdating, Bloomberg reported, citing two people familiar with the matter.