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Posted: February 22nd, 2008, 5:02pm EST
Wall Street staged a big turnaround in the last half-hour of trading amid word that a bailout plan for a troubled bond insurer could be announced next week.
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Posted: February 22nd, 2008, 4:53pm EST
Genentech’s Avastin received federal approval to treat breast cancer, a decision that could be a major shift in standards to assess the effectiveness of cancer medicines.
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Posted: February 22nd, 2008, 4:12pm EST
The company’s former top labor leader, Klaus Volkert, was found guilty of inciting fraud against the carmaker and sentenced to nearly three years in prison.
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Posted: February 22nd, 2008, 3:50pm EST
Running Toyota might seem to be Akio Toyoda’s birthright, but it is not guaranteed.
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Posted: February 22nd, 2008, 3:44pm EST
Liechtensteiners are eager to show that there is a lot more to their little country than secretive banks and foundations.
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Posted: February 22nd, 2008, 3:38pm EST
Three British bankers were sentenced to 37 months in prison each for their role in an Enron-related fraud.
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Posted: February 22nd, 2008, 3:35pm EST
The suit now says the original maker of the device and the investment firm that financed its development misled patients and federal regulators about the disk’s safety.
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Posted: February 22nd, 2008, 3:34pm EST
Of the 143 million pounds of recalled meat, just over 50 million pounds was bought for use in the federal programs, the department said.
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Posted: February 22nd, 2008, 12:58pm EST
Two former executives at Marsh Inc., a unit of Marsh & McLennan, were found guilty on a monopoly charge for participating in an insurance bid-rigging scheme, court officials said.
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Posted: February 22nd, 2008, 12:47pm EST
The end of the strike has alleviated the fears of more than a dozen blue-chip advertisers, worried that their marketing plans centered on the Oscars would be disrupted.
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Posted: February 22nd, 2008, 12:36pm EST
Ten teams from five countries plan to compete for $30 million in prizes in the Google-sponsored race to the moon.
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Posted: February 22nd, 2008, 11:14am EST
Klaus Volkert was convicted for his role in a broad corruption scandal at the automaker and sentenced to two years and nine months in prison.
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Posted: February 22nd, 2008, 11:08am EST
A computer security research group has developed a way to steal encrypted information from computer hard disks.
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Posted: February 22nd, 2008, 11:04am EST
The mutual fund company named F. William McNabb III president and director and said he will take over within a year as chief executive, succeeding John Brennan.
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Posted: February 22nd, 2008, 10:46am EST
The company named the head of its French operation, Detlev von Platen, chief executive of its North America unit, succeeding Peter Schwarzenbauer.
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Posted: February 22nd, 2008, 10:40am EST
The parent of Pacific Gas & Electricity reported net income of $203 million, fueled mainly by increased rates from infrastructure investments. It also raised its quarterly dividend.
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Posted: February 22nd, 2008, 10:21am EST
The financial software maker’s second-quarter net income fell as increased costs more than matched strong revenue growth driven by TurboTax sales, and it cut its earnings guidance.
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Posted: February 22nd, 2008, 9:17am EST
Dresdner Bank said that it would bail out its investment vehicle for complex financial products, becoming the latest bank to take the step to avoid a forced sale of assets.
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Posted: February 22nd, 2008, 9:12am EST
The government is considering proposals to rescue the nearly 8.8 million homeowners who are underwater.
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Posted: February 22nd, 2008, 4:47am EST
The supermarket chain delivered a fourth-quarter profit on Thursday that met analysts’ expectations, but it said sales have slowed this year.
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Posted: February 22nd, 2008, 3:11am EST
The hedge funds that hope to elect dissident directors to The New York Times Company board said Thursday that they had increased their holdings to at least 15.61 percent of the company’s common stock.
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Posted: February 22nd, 2008, 3:03am EST
Seeking to satisfy European antitrust officials, Microsoft said on Thursday that it would open up and share many more of its technical secrets with the rest of the software industry.
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Posted: February 22nd, 2008, 2:10am EST
LONDON (Reuters) — The British Parliament passed legislation on Thursday allowing the government to nationalize the struggling lender Northern Rock, five months after the bank became a high-profile casualty of the global credit squeeze.
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Posted: February 22nd, 2008, 12:57am EST
An Indonesian court’s ruling awarded former President Suharto more than $100 million in damages over an article about what the United Nations calls one of the most gargantuan thefts of our time.
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Posted: February 22nd, 2008, 12:51am EST
In financial crises of the past, financial chiefs have managed to find a cooperative way to turn things around. These days, they seem afraid to do anything.
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Posted: February 22nd, 2008, 12:40am EST
Société Générale blamed the rogue trading scandal and significant write-offs of United States subprime mortgage investments for the $4.95 billion quarterly loss.
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Posted: February 22nd, 2008, 12:38am EST
Fourth-quarter profit declined 10 percent as customers struggled with a weakening economy, the company said Thursday.
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Posted: February 22nd, 2008, 12:37am EST
LAS VEGAS (AP) — The casino giant MGM Mirage reported soaring fourth-quarter profit Thursday, including a hefty gain related to a foreign investment in its CityCenter project, which is under construction on the Las Vegas Strip.
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Posted: February 22nd, 2008, 12:36am EST
Earnings for 2007 were 10.65 billion Swiss francs ($9.7 billion), up from 9.2 billion francs a year earlier, beating analysts’ forecasts.
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Posted: February 22nd, 2008, 12:36am EST
The Newmont Mining Corporation reported quarterly results roughly in line with Wall Street expectations, but analysts worried it was not getting more of a boost from soaring gold prices.
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Posted: February 22nd, 2008, 12:29am EST
The discounted sale price was the final humiliation in Nike’s failed effort to use its marketing muscle to raise the profile of hockey in the United States.
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Posted: February 22nd, 2008, 12:08am EST
January data released Thursday by the Conference Board, a business group, showed the fourth consecutive monthly drop in its gauge of future business activity.
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Posted: February 22nd, 2008, 12:08am EST
The Justice Department filed two lawsuits on Thursday in a move against what it said was a fraudulent gold-mining scheme sold to dozens of wealthy investors.
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Posted: February 22nd, 2008, 12:07am EST
On Thursday, the Dow Jones industrial average fell 142.96 points, or 1.15 percent, to 12,284.30. Broader gauges also declined.
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Posted: February 22nd, 2008, 12:03am EST
Two managers in Credit Suisse’s investment banking division said Thursday that several traders probably used out-of-date prices to value asset-backed securities.
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Posted: February 22nd, 2008, 12:02am EST
An obscure pressure point in the credit squeeze popped up this week when a boutique investment bank in Houston held a “public auction” for dozens of the most arcane products in the financial world.
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Posted: February 22nd, 2008, 12:01am EST
Starbucks eliminated 600 jobs Thursday in an effort to refocus its coffee-selling business to reignite growth.
