Financial and Business

Money and Investing

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Last news: 9 hours 16 minutes ago

What's News US

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Staples posted a 43% drop in third-quarter net income amid charges related to its $4.8 billion acquisition of Dutch office-products supplier Corporate Express.

Sears swung to a quarterly loss on falling sales and margins, notably at namesake domestic stores.

In its latest effort to prevent Japans economy from sinking further into recession, the Bank of Japan expanded its lending programs to ensure sufficient funds are available for companies ahead of the key year-end season.

Nokia unveiled a smartphone with a touch-sensitive screen, a slide-out full keyboard, an addition to an emerging class of do-it-all mobile devices.

Members of the union that represents Boeings engineers and technical workers voted overwhelmingly to approve new four-year contracts, averting a work stoppage.

The number of consumers with delinquent mortgages is expected to nearly double by the end of next year, according to a credit bureau.

The Dow industrials fell 679.95 points, or 7.7%, to 8149.09, spurring concern that the rally of the five previous trading days might have been a temporary bounce. An onslaught of negative news fueled the declines. - [Read more]

Highbridge helped owner J.P. Morgan become one of the biggest hedge-fund managers in the world. But the flagship multistrategy fund has shrunk considerably, and now many investors want out. - [Read more]

Goldman Sachs is likely to report a loss of as much as $2 billion as it faces write-downs in several areas.

Even as a foundering consumer and a global recession may conspire to pinch corporate profits in 2009, another factor could undercut earnings a bit more: the strong dollar. - [Read more]

Many of the large LBOs struck during the buyout boom of 2006 and 2007 look to be heading for the same outcome as KKRs deal for RJR: buyers may never see their original deal price, or may spend years fighting to break even. - [Read more]

Chinas roaring industrial economy has been abruptly quieted by the effects of the global financial crisis. A wave of reverse migration to rural areas has the potential to shake the stability of the worlds most populous nation.

The yuan fell sharply on concerns Chinas central bank might weaken the currency to help boost growth. Two economic indicators show the slowdown intensifying.

Online retailers dangled free shipping and discounts for Cyber Monday shoppers even as sales expectations were pared.

As many of the biggest U.S. banks continue to reduce mortgage lending, some regional institutions are picking up market share.

Dow Chemical renegotiated a venture with Kuwait Petroleum, accepting $500 million less for the assets it will contribute.

Sumner Redstones holding company is unlikely to restructure its debt this year, despite sitting on $500 million.

The latest annual audit of the FHA shows a steep drop in the capital cushion the U.S. agency holds against losses from mortgage defaults.

Ford plans to tell Congress it is retooling itself to build small fuel-efficient cars, and will cut CEO Mulallys pay. The moves are part of its bid to win support for a federal bailout of the Big Three.

Bernanke signaled that officials will hold nothing back in their support of financial markets and the economy, calling further interest rate cuts from already low levels "certainly feasible." (Remarks)