IBT Staff Reporter

120631-120660 (out of 154943)

AmEx launches CDs line to diversify funding

American Express Co announced on Monday a new line of certificates of deposit as part of the largest U.S. credit card company's plan to diversify funding sources as the financial crisis tightened lending.

Apple cut prices of Apple TV

Apple Inc. discontinued its 40GB Apple TV and cut the price of its 160GB model $100 to $229 on Monday. However, critics are arguing that Apple TV won't see any real success until it opens up to Web video beyond iTunes despite price cuts.

AllianceBernstein-backed REIT to debut next week

Foursquare Capital Corp, a real estate investment trust that will be run and advised by a unit of money manager AllianceBernstein, will price its initial public offering and make its trading debut the week of Sept. 21, according to one of deal's underwriters.

NEC to take over Casio, Hitachi mobile phone

Japan's NEC Corp will take over the cellphone operations at Casio Computer Co and Hitachi Ltd as the struggling sector bands together to cut costs and survive a fast-shrinking market.

Oil falls, traders eye position limits, China

Oil fell on Monday, weighed down by trader concerns that the top U.S. commodities exchange could tighten enforcement of position limits and about a U.S. decision to impose special duties on Chinese tires.

Bank of America-SEC bonuses pact rejected

A federal judge on Monday rejected Bank of America Corp's and the U.S. Securities and Exchange Commission's proposed settlement over Merrill Lynch & Co bonuses, describing the agreement as a contrivance that harms shareholders.

HIG Capital says it could buy Molex France

The French arm of U.S. electronics group Molex which has been the subject of violent protests from workers afraid they might lose their jobs, could be acquired by investment firm HIG Capital.

Tax evaders rush to beat amnesty deadline

Rich Americans who have evaded taxes by hiding foreign holdings have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught.

U.S. tax evaders rush to beat amnesty deadline

Rich Americans who have evaded taxes by hiding their foreign holdings have about a week to decide whether to turn themselves in to an Internal Revenue Service amnesty program or gamble that they will not be caught.

Welcome to Lehman Brothers, you're fired!

French maths and computer science graduate Edouard d'Archimbaud thought he was about to start a lucrative and challenging career in finance when he walked through the doors of Lehman Brothers' London offices a year ago. Surprised to see crowds of journalists, staff and police in front of the building as he turned up for his first day on Sept. 15, 2008, it was only once inside that d'Archimbaud rea...

Direct Edge moves closer to U.S. exchange status

Direct Edge's applications to operate two stock exchanges appeared for public comment on the U.S. Securities and Exchange Commission's web site on Monday, bringing the privately held alternative venue a step closer to becoming a formal exchange operator.

Wall St flat amid U.S.-China trade spat

U.S. stocks were little changed on Monday after the United States imposed special duties on Chinese tires, raising investors' concerns about trade friction between the two economic powers.

JPMorgan to buy EcoSecurities for $204 million

JPMorgan Chase & Co agreed to buy carbon offset aggregator EcoSecurities for 122.9 million pounds ($204 million) on Monday, trumping a bid from the firm's co-founder, to boost its carbon-credit trading business.

Dollar loses gains as risk appetite climbs

The dollar fell against the euro on Monday, erasing earlier gains, as investors looked past a United States versus China trade dispute and took on more risk. U.S. stocks pared losses .N, illustrating higher risk appetite and reducing safe haven demand for the dollar, as investors stuck to the theme of recent months of changes in risk tolerance driving dollar action.

Arena weight-loss data expected to underwhelm

Upcoming trial results for lorcaserin, the experimental obesity drug being developed by Arena Pharmaceuticals Inc, will likely show it is about 4 percentage points more effective in promoting weight loss than a dummy pill

Obama calls for financial reform this year

U.S. President Barack Obama, marking a year since Lehman Brothers collapsed, urged financial firms on Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year.

Nortel sells enterprise unit to Avaya for $900 mln

U.S. telecom equipment maker Avaya Inc has emerged as the successful bidder at a bankruptcy auction for the Nortel Networks Corp unit that builds corporate networks, and will pay $900 million for the business.

Watch President Obama live on Wall Street here

President Obama is at Wall Street today to speak from Federal Hall to mark one year after the collapse of Lehman Brothers and to breathe new life into efforts to overhaul the financial regulatory system.

Rio Tinto sells 56 pct stake in Alcan cable unit

Rio Tinto, the world's second-largest miner, is to sell a 56 percent stake in the cable division of its Alcan Engineered Products unit to U.S. investment firm Platinum Equity for an undisclosed sum.

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