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Posted: February 12th, 2008, 12:32pm EST
The Bush administration, trying to deal with a worsening housing slump, announced a new initiative aimed at helping homeowners about to lose their homes.
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Posted: February 12th, 2008, 12:28pm EST
A defeated amendment would have stripped immunity from companies that aided a wiretapping program.
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Posted: February 12th, 2008, 12:24pm EST
Even borrowers with strong credit are feeling the pinch as home values fall. Several banks are expected to offer assistance to ease the burden on Tuesday.
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Posted: February 12th, 2008, 12:18pm EST
The offer, made to three troubled bond guarantors, would do little to alleviate the problems the companies are facing with more complex securities.
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Posted: February 12th, 2008, 12:18pm EST
Saying a slowing market had caused the swing to a loss, G.M. also announced a buyout offer to union employees to cut costs.
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Posted: February 12th, 2008, 12:10pm EST
A Texas jury has ruled that Boston Scientific’s drug-coated stents infringe a 1997 patent issued to a radiologist and has awarded the inventor $431 million in damages, Boston Scientific said.
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Posted: February 12th, 2008, 12:09pm EST
Net profit in the fourth quarter rose to 753 million euros ($1.09 billion), helped by sales of the blood-thinner Plavix in the United States and cost-cutting measures, the company said.
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Posted: February 12th, 2008, 12:05pm EST
Forecasters said on average that there was a 47 percent chance the economy would shrink in the first quarter of 2008. Reading between the lines, recession is now unavoidable.
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Posted: February 12th, 2008, 11:57am EST
Microsoft said it would acquire Danger, a maker of consumer smartphones, an indication that the software giant is quickly moving to expand its mobile strategy.
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Posted: February 12th, 2008, 10:53am EST
The New York Times Company, under pressure from hedge funds that want to gain representation on its board, nominated two candidates of its own, Robert E. Denham and Dawn Lepore.
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Posted: February 12th, 2008, 10:42am EST
The bottler posted fourth-quarter net income of $158 million, helped by increased volume and prices in North America and Europe, and raised its annual dividend.
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Posted: February 12th, 2008, 10:34am EST
The brewer said fourth-quarter profit jumped 75 percent to $173.2 million, helped by a tax benefit and the weak dollar.
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Posted: February 12th, 2008, 10:29am EST
The advertising services company said fourth-quarter profit rose 13 percent to $313.9 million, slightly ahead of expectations, with revenue increases in the United States and internationally.
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Posted: February 12th, 2008, 10:20am EST
The mortgage lender posted a fourth-quarter loss of $509.1 million as it raised its loan-loss provisions to account for growing defaults and foreclosures.
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Posted: February 12th, 2008, 10:00am EST
The company reported fourth-quarter profit of $85 million on weakness in its risk and insurance services business.
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Posted: February 12th, 2008, 9:50am EST
The company said it lost $3.36 billion in the fourth quarter because of accounting rules related to the purchase of Organon BioSciences.
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Posted: February 12th, 2008, 9:24am EST
Safety experts say the influx of electronics is turning cars into sometimes chaotic moving family rooms.
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Posted: February 12th, 2008, 9:21am EST
The phone company reported an 89 percent rise in fourth-quarter profit, bolstered by a benefit related to income tax.
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Posted: February 12th, 2008, 8:17am EST
The bank trimmed its full-year subprime write-downs to 2 billion Swiss francs ($1.82 billion) but its stock fell as investors reacted to the bank’s remaining exposure to the credit crisis.
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Posted: February 12th, 2008, 3:38am EST
The second major outage of BlackBerry service in less than a year is an embarrassment for Ontario-based Research in Motion, the maker of BlackBerry devices.
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Posted: February 12th, 2008, 3:35am EST
The coalition of hedge funds that wants to place directors on the board of The New York Times Company has more than doubled its stake in the company.
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Posted: February 12th, 2008, 3:35am EST
When the Writers Guild of America held its awards ceremony Saturday night, it felt more like a victory celebration. So after the long strike, the writers won, right?
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Posted: February 12th, 2008, 3:25am EST
The French bank offered millions of new shares to investors at a fire-sale price Monday, seeking to replace the more than $7 billion it lost in a trading scandal.
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Posted: February 12th, 2008, 3:24am EST
Shares of retailers and home builders rose on expectations of more interest rate cuts, but those of banks and insurers fell on worries about further mortgage debt troubles.
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Posted: February 12th, 2008, 3:21am EST
Madison Avenue is optimistic that there can be long-term benefits from the disruptions caused to the broadcast television season by the writers’ strike.
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Posted: February 12th, 2008, 3:08am EST
Starbucks and AT&T said they would start offering a mix of free and paid wireless Internet service in most of Starbucks’s American shops, beginning this spring.
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Posted: February 12th, 2008, 3:05am EST
Between flight delays, missed connections and crowded flights, a business traveler has to have the resourcefulness of a person ready for stealthy ground combat.
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Posted: February 12th, 2008, 2:21am EST
A law that aims to diminish the influence of special interests on city campaigns would make it more difficult for minority candidates to run, according to a lawsuit.
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Posted: February 12th, 2008, 2:12am EST
In 15 enforcement sweeps, state investigators found $19 million in wages that were not reported to the state and $3 million in underpayments to workers.
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Posted: February 12th, 2008, 2:10am EST
A tax research group went to court Monday, arguing that the Internal Revenue Service was not complying with federal court orders to release data on its audit practices.
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Posted: February 12th, 2008, 2:09am EST
The state attorney’s office in Palm Beach County, Fla., said Monday that no charges would be filed in the drowning of Seth Tobias, 44, a hedge fund manager and regular commentator on CNBC.
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Posted: February 12th, 2008, 2:08am EST
A major maker of heparin, a blood thinner used widely in surgery and dialysis, has stopped making it after hundreds of patients reported severe allergic reactions to the drug.
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Posted: February 12th, 2008, 2:07am EST
There is a fortune to be made from selling naming rights to New York’s five Mafia families.
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Posted: February 12th, 2008, 2:06am EST
The Governors Island Preservation and Education Corporation sold an unwanted firetruck on Craigslist to a fire company in southern Pennsylvania for more than $75,000.
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Posted: February 12th, 2008, 2:04am EST
Sales of US Weekly and OK! Weekly climbed sharply in the second half of 2007, even as price increases sparked a drop in overall celebrity magazine sales.
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Posted: February 12th, 2008, 1:56am EST
The Best Buy Company, the consumer electronics chain, and the online video rental company Netlfix both announced their commitment to stock Blu-ray DVDs.
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Posted: February 12th, 2008, 1:55am EST
Hours after Yahoo officially rejected Microsoft’s takeover bid, calling it too low, Microsoft called Yahoo’s response “unfortunate” and said its proposal was “full and fair.”
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Posted: February 12th, 2008, 1:54am EST
The addition of Bank of America Corporation and the Chevron Corporation will be the first change to the blue-chip stock index in almost four years.
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Posted: February 12th, 2008, 1:52am EST
Several initial public offerings have been withdrawn in India in recent weeks as once-resilient investors rethink their commitment to India’s volatile stock markets.
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Posted: February 12th, 2008, 1:49am EST
The White House predicted the economy would escape a recession and unemployment would remain low this year, though it acknowledged growth had already slowed.
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Posted: February 12th, 2008, 1:48am EST
A new investigation offers a model for attacking what has become a flood of fake drugs, which threaten to undermine the global fight against malaria.
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Posted: February 12th, 2008, 1:48am EST
Accounting flaws at the insurance giant that understated the company’s losses raised new questions about the deteriorating health of financial companies.
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Posted: February 12th, 2008, 1:46am EST
William S. Lerach was sentenced to two years in prison and ordered to forfeit $7.75 million for concealing illegal payments to a plaintiff in class-action lawsuits.
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Posted: February 12th, 2008, 1:39am EST
A $2 billion hedge fund fails, and there will be more, analysts say.
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Posted: February 12th, 2008, 1:25am EST
You would never know a recession might be under way from looking at Intuitive Surgical, the leader in medical robot technology.
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Posted: February 12th, 2008, 1:23am EST
Prosecutors insisted Monday that five former executives from the American International Group deliberately mounted a fraud to manipulate its financial statements.
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Posted: February 12th, 2008, 1:23am EST
The Tolkien Trust joined a private family trust of Tolkien heirs and the British arm of HarperCollins Publishers in suing New Line Cinema for breach of contract.
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Posted: February 12th, 2008, 12:37am EST
In one corner of Wall Street, money is still gushing. Early shareholders may be protected, but long-term investors may be the suckers.
