LightSquared, the ailing wireless company backed by hedge fund manager Philip Falcone, said on Tuesday that it plans to cut its workforce by 45 percent in order to save cash.
Real estate mogul Sam Zell's Equity Residential (NYSE:EQR) has raised its minimum bid for a 26.5 percent stake in the long-running battle for control of Archstone, owner of more than 70,000 U.S. apartment units. Earlier this week, the minimum bid was raised to $1.48 billion from $1.32 billion by Bank of America Corp. and Barclays Plc, which own the minority stake in the company. The banks also extended the deadline for Equity's option to buy the stake to April 19 from Feb. 19.
Research In Motion on Tuesday gave its PlayBook tablet computer the ability to handle email as easily as a BlackBerry does, with new software that eliminates a shortcoming that has throttled sales since the PlayBook launched last April.
Howard Lutnick's BGC Partners Inc. (NASDAQ: BGCP) has agreed to buy the commercial real estate brokerage Grubb & Ellis Company (PINK:GRBE), which will file for Chapter 11 bankruptcy protection in the wake of declining revenue from the commercial real estate bust.
After clamoring for the number one spot when it came to endorsing Facebook’s initial public offering in the beginning of the month, Goldman Sachs lost to Morgan Stanley, and placed fourth among U.S. financial rivals. Although it wasn’t chosen as the social-networking giant’s main supporter, Goldman Sachs and Facebook may have more in common than some think. In the past week, both companies claimed victories in intellectual property lawsuits, according to BusinessWeek.
Alibaba Group, the Chinese e-commerce company, proposed on Tuesday to privatize its Alibaba.com division.
Stock index futures pointed to a rise in U.S. equities on Tuesday after the market opens following Monday's Presidents Day holiday, with futures for the S**9**P 500, the Dow Jones Industrial Average and the Nasdaq 100 rising 0.4 percent to 0.5 percent.
Western investors in Japan's disgraced Olympus have accused its banks of trying to take control of the boardroom by stealth, amid media reports that the firm's major creditors are set to install their own appointees in the top jobs.
Euro zone finance ministers inched toward approving a second bailout for debt-laden Greece Monday night that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.
Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.
Rio Tinto PLC, the world's second largest iron ore miner, is set to spend more than half a billion dollars automating cars, trains and trucks at one of its Western Australia mines so that they can be operated remotely.
PayPal billionaire Peter Thiel has donated an additional $1.7 million to a super PAC supporting Republican presidential candidate Ron Paul, making him the primary funder behind Endorse Liberty Inc. since it was founded late last year.
The Darlings tells a fictional tale about the downfall of a hedge fund and the wealthy family that owns it during Wall Street's 2008 meltdown, but many aspects of the novel are drawn straight from author Cristina Alger's reality.
Samsung Electronics will spin off its liquid crystal display division, dumping an unprofitable segment as the company shifts its focus towards thinner displays.
TransUnion Corp., the third largest provider of credit information to banks and consumers, said Advent International Corp. and Goldman Sachs Group Inc.'s private equity arm agreed to buy the company from Chicago's billionaire Pritzker family and local private equity firm Madison Dearborn Partners LLC for over $3 billion.
Samsung Electronics announced Monday that it will spin off its LCD business division to launch a new entity provisionally called Samsung Display Co., set to go live on April 1, 2012. The move awaits shareholder approval, but the new business will reportedly launch with about $668 million in paid-in capital to start working with.
The black velvet dress and pair of earrings worn by Whitney Houston in The Bodyguard along with other Hollywood celebrity memorabilia like Charlie Chaplin's cane will be up for bids at the Hollywood Legends auction in Beverly Hills, Calif.
Four Seasons Health Care is not trying to sell itself, as media reports suggested, but is in talks to renegotiate debt and raise new equity, a spokeswoman for Britain's biggest care home operator told Reuters.
A senior U.S. regulator was optimistic on Monday about finding a framework for the world's top economy to use global book keeping rules for investors to compare cross-border companies.
French media group Vivendi's Universal Music is seeking EU regulatory approval to buy British record label EMI's recorded music unit for $1.9 billion to boost its worldwide market share, the European Commission said on its website on Monday.
Sudan has secured a five-year delay on its debts to China, the finance minister said on Saturday, part of efforts to make up for the loss of revenues from the oil-producing south.
For some observers, Greece can seem like a small problem in a distant land, incapable of affecting U.S. investors. But in the financial crisis era, that is most certainly not the case.
