Panasonic Posts $4 Bil. Loss for Year
Panasonic Corp. swung deep into the red last fiscal year, joining the expanding club of big Japanese brands shellshocked by their rapid descent from cash ...
Business
Microsoft Partners with Hangzhou in Model City Pact
Microsoft Corp. announced a partnership aimed at helping make the eastern Chinese city of Hangzhou a model for innovation and protection of intellectual property, in ...
GM to Cut 1,100 Dealerships After Chrysler's 789
A day after Chrysler LLC told a quarter of its dealers that it won’t renew their contracts, owners of General Motors Corp. dealerships are awaiting ...
Japan's Top Banks Post Annual Losses
Top Japanese banks tumbled to steep annual losses, hit by bad loans and plunging share prices, but said Friday that they expect to turn a ...
Korea Sees First Signs of Recovery
South Korea’s economy is showing encouraging signs of recovery but prospects for a full-fledged revival remain cloudy, the country’s financial regulator said Friday. “In (South) ...
Schwarzenegger Orders Layoffs to Cut $15.4 Bil. Deficit
California Gov. Arnold Schwarzenegger said Thursday that thousands of state employees must be laid off and billions of dollars must be slashed from the budget ...
Prices Rise, Jobless Claims Stay Below Peak
New jobless claims rose more than expected last week due partly to an increase in layoffs by the automobile industry, while the number of people ...
BOA Sells Stake in China Construction Bank for $7.3 Bil.
Bank of America Corp. sold part of its stake in China Construction Bank for some $7.3 billion as the U.S. lender seeks to raise billions ...
Whole Foods Q2 Profit Falls 32%
Whole Foods Market Inc. said Wednesday that its quarterly profit fell 32 percent as shoppers spent conservatively during the recession, but the results narrowly beat ...
Obama Plan to Help Stricken Homeowners Keep Good Credit
The Obama administration is expected to expand its mortgage aid program on Thursday, announcing new measures that would help homeowners avoid a blemished credit record ...
China Stimulus Boosts State Firms, Skips Entrepreneurs
Millions of Indians voted Wednesday in the final phase of the country’s monthlong national election, amid an economic downturn and a deeply fractured political scene.
China Retail Sales Jump 15%
Resilient demand from Chinese shoppers helped push retail sales up 14.8 percent in April, but a paltry rise in industrial output sapped hopes for a ...
GM to Export China-Built Cars to U.S.
General Motors Corp. plans to begin exports of vehicles made in China to the United States within two years, ramping up sales to more than ...
Korea Unemployment Rate Falls to 3.8%
South Korea’s unemployment rate fell to 3.8 percent in April, government data showed Wednesday, adding to signs the country’s battered economy is improving.
Hitachi Reports Record Loss with Glum Outlook for 2009
Electronics maker Hitachi Ltd. posted the biggest ever annual loss for a Japanese manufacturer and warning of more red ink, said it doesn’t expect the ...
Infrastructure Projects Skip Areas with Most Jobless
The billions in transportation stimulus dollars that President Barack Obama promoted as a way to create jobs shortchange counties that need the work the most, ...
Advanta to Close All Small Business Card Accounts
Advanta Corp., a credit card lender to nearly 1 million small businesses, will close all its cardholders’ accounts next month in a last-ditch effort stem ...
Fomer Monster COO Convicted of Stock Accounting Fraud
The former president and chief operating officer of Monster Worldwide has been convicted in New York of wrongfully backdating millions of dollars’ worth of employee ...
Oil Continues Rise Despite Highest Inventories in 19 Years
Investor hopes that the U.S. recession may have bottomed out propelled oil prices well above $59 a barrel on Tuesday.
China April Exports Down 22.6%, Investments Up 30.5%
China’s exports plunged 22.6 percent in April from the year before in the sixth straight monthly decline, the government said Tuesday, while a torrent in ...
Stimulus on Track to Save or Create 3.5 Mil. Jobs Says White House
The Obama administration is defending its claim that the $787 billion economic stimulus plan will save or create 3.5 million jobs before 2011 even while ...
Microsoft Prepares First Debt Offering of $3.75 Bil.
Microsoft Corp. priced a $3.75 billion debt offering on Monday, a first for the world’s largest software maker.
Credit Card Bill Would Let Consumers Return to Old Rate
Consumers who are paying more in interest because they have fallen behind on their credit-card bills could regain their older, lower rates if they pay ...
AIG Sells Japan HQ for $1.2 Bil.
Embattled insurer American International Group Inc. said Monday it is selling its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion in cash.
Sony to Post First Annual Loss in 14 Years
Japanese electronics and entertainment company Sony Corp. reports its fiscal fourth quarter and full year earnings on Thursday. The following is a summary of key ...
Fiat's Triumphant Return to U.S. Stokes Italian Pride
In a perfect world, so the joke goes, the Germans are the mechanics, the Swiss are the timekeepers and the Italians are the lovers.
Pang Used Fund As Personal Piggy Bank Says Receiver
A California financier accused in a federal fraud lawsuit treated the investments he managed as a “personal piggy bank” to fund a lavish lifestyle and ...
GM Chapter 11 Deemed Virtual Certainty
For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable.
China CPI Falls 1.5% in April on Lower Food
China’s inflation rate fell for the third month in a row in April as prices for foods and energy plunged from high levels the year ...
Insight First Hybrid to Top Japan Car Sales
Honda’s Insight, billed as the cheapest gas-electric hybrid on the market, ranked as the top-selling vehicle in Japan for April — the first time a ...
Luxury Goods Enjoy Boom in China
Clutching a fistful of shopping bags from designers Vivienne Westwood, Dior and Alexander McQueen as she concluded one of her twice-monthly shopping sprees, 29-year-old Zhao ...
Obama Wants Credit Card Legislation by Month's End
Send me a bill that stops credit card companies from taking advantage of consumers, and do it by month’s end, President Barack Obama is demanding ...
Wall Street Ends Week Surgin on Jobs, Banks
As far as Wall Street is concerned there is no bad news anymore. At least for now, traders are seeing news about longtime trouble spots ...
Employment Data Boost Wall Street
Stock futures are extending their gains as the government says fewer jobs were lost in April than expected.
Top Japanese Chipmaker Toshiba Posts Record Loss
Japan’s top chipmaker Toshiba Corp. tumbled to a record annual loss amid sinking global demand that has forced it to cut thousands of jobs.
Toyota Reports Record Losses
Toyota Motor Corp. lost 765.8 billion yen ($7.7 billion) in the January-March quarter — a bigger loss than General Motors reported — resulting in its ...
World Stocks Continue Climbing on U.S. Jobless Data
European markets extended their rally Thursday following key interest rate decisions and ahead of the formal release of the results for the U.S. government’s stress ...
Bank of America Shares Surge Ahead of Stress Test Results
Shares of Bank of America Corp. continued their rapid climb Thursday, hours ahead of the expected announcement of bank stress test results and following a ...
China Pledges Another Big Buying Spree in Europe
China promised Thursday to send its companies on new multibillion dollar spending sprees in Europe as it called on the bloc, its largest export market, ...
China's Geely Bids for GM's SAAB
Chinese automaker Geely Automobile Holdings said Thursday it is bidding for General Motors Corp.‘s Saab brand, a move that would boost the company’s ability to ...
Oil Hits 6-Month High on Surging Optimism
Oil prices jumped to almost $58 a barrel Thursday, extending gains to near six-month highs on investor expectations that global economic growth may begin to ...
Stress Test Results Lift Cloud of Uncertainty
Government exams of the nation’s biggest banks have helped lift a cloud of uncertainty that has hung over the economy.
Hitachi Reports Worst Manufacturing Loss on Record
Japanese electronics maker Hitachi Ltd. said Thursday its loss for the fiscal year ended March will be bigger than its previous forecast, ballooning to 788 ...
Bank Stress Test Results Ease Worries, Boost Wall Street
Investors felt more confident putting their money into banks on the eve of a government report card on big financial companies.
Korean Air Losses Jump on Weak Won
Korean Air Lines Co. said Thursday its first quarter net loss widened as weakness in the South Korean won drove up costs denominated in dollars.
Validity of Bank Stress Test Questioned
Some of the nation’s largest banks will be scrambling to demonstrate that they can raise capital after results of government stress tests leaked out, showing ...
Market Buoyant Despite Pending Bank Stress-Test Results
Banks will be told today how they did on their “stress tests” and informed of regulators’ final decisions on how much capital they need to ...
IMF Projects 4.3% Growth for Asia in 2010 Recovery
Most Asian economies face a sharp contraction this year and a weak recovery in 2010 as global demand for the region’s exports struggles to rebound, ...
Asia Agrees on Need to Cut Exports, Boost Consumption
Cutting Asia’s reliance on exports for growth has taken on new urgency as the global economic crisis sends trade into a tailspin. But many economies ...
Oil Stays Above $54 on Recovery Hopes
Oil prices lingered above $54 a barrel Tuesday as growing investor optimism about a recovery in the global economy supported prices above a month-long trading ...
Panasonic Posts $4 Bil. Loss for Year
Panasonic Corp. swung deep into the red last fiscal year, joining the expanding club of big Japanese brands shellshocked by their rapid descent from cash ...
Microsoft Partners with Hangzhou in Model City Pact
Microsoft Corp. announced a partnership aimed at helping make the eastern Chinese city of Hangzhou a model for innovation and protection of intellectual property, in ...
GM to Cut 1,100 Dealerships After Chrysler's 789
A day after Chrysler LLC told a quarter of its dealers that it won’t renew their contracts, owners of General Motors Corp. dealerships are awaiting ...
Japan's Top Banks Post Annual Losses
Top Japanese banks tumbled to steep annual losses, hit by bad loans and plunging share prices, but said Friday that they expect to turn a ...
Korea Sees First Signs of Recovery
South Korea’s economy is showing encouraging signs of recovery but prospects for a full-fledged revival remain cloudy, the country’s financial regulator said Friday. “In (South) ...
Schwarzenegger Orders Layoffs to Cut $15.4 Bil. Deficit
California Gov. Arnold Schwarzenegger said Thursday that thousands of state employees must be laid off and billions of dollars must be slashed from the budget ...
Prices Rise, Jobless Claims Stay Below Peak
New jobless claims rose more than expected last week due partly to an increase in layoffs by the automobile industry, while the number of people ...
BOA Sells Stake in China Construction Bank for $7.3 Bil.
Bank of America Corp. sold part of its stake in China Construction Bank for some $7.3 billion as the U.S. lender seeks to raise billions ...
Whole Foods Q2 Profit Falls 32%
Whole Foods Market Inc. said Wednesday that its quarterly profit fell 32 percent as shoppers spent conservatively during the recession, but the results narrowly beat ...
Obama Plan to Help Stricken Homeowners Keep Good Credit
The Obama administration is expected to expand its mortgage aid program on Thursday, announcing new measures that would help homeowners avoid a blemished credit record ...
China Stimulus Boosts State Firms, Skips Entrepreneurs
Millions of Indians voted Wednesday in the final phase of the country’s monthlong national election, amid an economic downturn and a deeply fractured political scene.
China Retail Sales Jump 15%
Resilient demand from Chinese shoppers helped push retail sales up 14.8 percent in April, but a paltry rise in industrial output sapped hopes for a ...
GM to Export China-Built Cars to U.S.
General Motors Corp. plans to begin exports of vehicles made in China to the United States within two years, ramping up sales to more than ...
Korea Unemployment Rate Falls to 3.8%
South Korea’s unemployment rate fell to 3.8 percent in April, government data showed Wednesday, adding to signs the country’s battered economy is improving.
Hitachi Reports Record Loss with Glum Outlook for 2009
Electronics maker Hitachi Ltd. posted the biggest ever annual loss for a Japanese manufacturer and warning of more red ink, said it doesn’t expect the ...
Infrastructure Projects Skip Areas with Most Jobless
The billions in transportation stimulus dollars that President Barack Obama promoted as a way to create jobs shortchange counties that need the work the most, ...
Advanta to Close All Small Business Card Accounts
Advanta Corp., a credit card lender to nearly 1 million small businesses, will close all its cardholders’ accounts next month in a last-ditch effort stem ...
Fomer Monster COO Convicted of Stock Accounting Fraud
The former president and chief operating officer of Monster Worldwide has been convicted in New York of wrongfully backdating millions of dollars’ worth of employee ...
Oil Continues Rise Despite Highest Inventories in 19 Years
Investor hopes that the U.S. recession may have bottomed out propelled oil prices well above $59 a barrel on Tuesday.
China April Exports Down 22.6%, Investments Up 30.5%
China’s exports plunged 22.6 percent in April from the year before in the sixth straight monthly decline, the government said Tuesday, while a torrent in ...
Stimulus on Track to Save or Create 3.5 Mil. Jobs Says White House
The Obama administration is defending its claim that the $787 billion economic stimulus plan will save or create 3.5 million jobs before 2011 even while ...
Microsoft Prepares First Debt Offering of $3.75 Bil.
Microsoft Corp. priced a $3.75 billion debt offering on Monday, a first for the world’s largest software maker.
Credit Card Bill Would Let Consumers Return to Old Rate
Consumers who are paying more in interest because they have fallen behind on their credit-card bills could regain their older, lower rates if they pay ...
AIG Sells Japan HQ for $1.2 Bil.
Embattled insurer American International Group Inc. said Monday it is selling its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion in cash.
Sony to Post First Annual Loss in 14 Years
Japanese electronics and entertainment company Sony Corp. reports its fiscal fourth quarter and full year earnings on Thursday. The following is a summary of key ...
Fiat's Triumphant Return to U.S. Stokes Italian Pride
In a perfect world, so the joke goes, the Germans are the mechanics, the Swiss are the timekeepers and the Italians are the lovers.
Pang Used Fund As Personal Piggy Bank Says Receiver
A California financier accused in a federal fraud lawsuit treated the investments he managed as a “personal piggy bank” to fund a lavish lifestyle and ...
GM Chapter 11 Deemed Virtual Certainty
For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable.
China CPI Falls 1.5% in April on Lower Food
China’s inflation rate fell for the third month in a row in April as prices for foods and energy plunged from high levels the year ...
Insight First Hybrid to Top Japan Car Sales
Honda’s Insight, billed as the cheapest gas-electric hybrid on the market, ranked as the top-selling vehicle in Japan for April — the first time a ...
Luxury Goods Enjoy Boom in China
Clutching a fistful of shopping bags from designers Vivienne Westwood, Dior and Alexander McQueen as she concluded one of her twice-monthly shopping sprees, 29-year-old Zhao ...
Obama Wants Credit Card Legislation by Month's End
Send me a bill that stops credit card companies from taking advantage of consumers, and do it by month’s end, President Barack Obama is demanding ...
Wall Street Ends Week Surgin on Jobs, Banks
As far as Wall Street is concerned there is no bad news anymore. At least for now, traders are seeing news about longtime trouble spots ...
Employment Data Boost Wall Street
Stock futures are extending their gains as the government says fewer jobs were lost in April than expected.
Top Japanese Chipmaker Toshiba Posts Record Loss
Japan’s top chipmaker Toshiba Corp. tumbled to a record annual loss amid sinking global demand that has forced it to cut thousands of jobs.
Toyota Reports Record Losses
Toyota Motor Corp. lost 765.8 billion yen ($7.7 billion) in the January-March quarter — a bigger loss than General Motors reported — resulting in its ...
World Stocks Continue Climbing on U.S. Jobless Data
European markets extended their rally Thursday following key interest rate decisions and ahead of the formal release of the results for the U.S. government’s stress ...
Bank of America Shares Surge Ahead of Stress Test Results
Shares of Bank of America Corp. continued their rapid climb Thursday, hours ahead of the expected announcement of bank stress test results and following a ...
China Pledges Another Big Buying Spree in Europe
China promised Thursday to send its companies on new multibillion dollar spending sprees in Europe as it called on the bloc, its largest export market, ...
China's Geely Bids for GM's SAAB
Chinese automaker Geely Automobile Holdings said Thursday it is bidding for General Motors Corp.‘s Saab brand, a move that would boost the company’s ability to ...
Oil Hits 6-Month High on Surging Optimism
Oil prices jumped to almost $58 a barrel Thursday, extending gains to near six-month highs on investor expectations that global economic growth may begin to ...
Stress Test Results Lift Cloud of Uncertainty
Government exams of the nation’s biggest banks have helped lift a cloud of uncertainty that has hung over the economy.
Hitachi Reports Worst Manufacturing Loss on Record
Japanese electronics maker Hitachi Ltd. said Thursday its loss for the fiscal year ended March will be bigger than its previous forecast, ballooning to 788 ...
Bank Stress Test Results Ease Worries, Boost Wall Street
Investors felt more confident putting their money into banks on the eve of a government report card on big financial companies.
Korean Air Losses Jump on Weak Won
Korean Air Lines Co. said Thursday its first quarter net loss widened as weakness in the South Korean won drove up costs denominated in dollars.
Validity of Bank Stress Test Questioned
Some of the nation’s largest banks will be scrambling to demonstrate that they can raise capital after results of government stress tests leaked out, showing ...
Market Buoyant Despite Pending Bank Stress-Test Results
Banks will be told today how they did on their “stress tests” and informed of regulators’ final decisions on how much capital they need to ...
IMF Projects 4.3% Growth for Asia in 2010 Recovery
Most Asian economies face a sharp contraction this year and a weak recovery in 2010 as global demand for the region’s exports struggles to rebound, ...
Asia Agrees on Need to Cut Exports, Boost Consumption
Cutting Asia’s reliance on exports for growth has taken on new urgency as the global economic crisis sends trade into a tailspin. But many economies ...
Oil Stays Above $54 on Recovery Hopes
Oil prices lingered above $54 a barrel Tuesday as growing investor optimism about a recovery in the global economy supported prices above a month-long trading ...
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