Big profits ahead for toxic asset buys, top official says
In a public-private push which a top government official believes will be very profitable, the U.S. wants public input on how taxpayers should share profits with investors for a proposed program to buy hundreds of millions of dollars in loans which banks have so far been unwilling or unable to sell.
Profit-taking, bank caution halt market run-up
Wall Street capped a strong week on a down note on Friday as investors booked profits in the wake of the recent upward surge and bank shares dropped after bank executives indicated March had been a tougher month for the industry than the previous two.
Autos task force to announce plan Monday
President Barack Obama will announce the next steps to help General Motors Corp and Chrysler LLC on Monday, the White House said, amid signs of progress for GM in talks aimed at slashing its debt and cutting costs in response to slack demand.
U.S. consumer spending, sentiment edge up
U.S. consumer spending rose for a second consecutive month in February and sentiment edged up in March, according to reports on Friday that backed views that the worst of the recession may be over.
Chrysler plant funding dispute aired with Geithner
A U.S. congressman has asked the Obama autos task force to withhold further emergency aid to Chrysler until the automaker resolves a financial dispute with an Indiana county stemming from a failed plant project.
KB Home posts narrower loss, shares rise
KB Home posted a quarterly loss that was not as bad as Wall Street had expected, as orders rose and the builder took a smaller charge to write down the value of its landholdings, sending shares up as much as 12 percent.
Wall St off on profit-taking, but up for week
Stocks closed lower on Friday as investors booked profits following of a recent upward surge and bank shares dropped after executives indicated March had been a tougher month for the industry than the previous two.
Jack Dreyfus, Lion on Wall Street, dies at 95
Jack Dreyfus, the so-called Lion on Wall Street, died March 27 at New York Hospital, the asset management firm that he founded said on Friday.
Apple eyes massive China mobile market
Apple could capture nearly 20 percent of China's sizable smartphone market, giving it a considerable boost in users as its popular iPhone crosses the Pacific, analysts contend.
To Moscow & Red Square - Russia, Europe
Seldom is there a time when a particular destination grabs my attention, makes me sit up and take notice. My latest journey to Moscow did just that even though I did relive the negative feelings of the late 70’s and 80’s (I am old enough to remember, young enough to make meaningful sense of it).
Wall St slides further after Dimon comments
U.S. stocks slid on Friday as investors booked profits in the wake of a recent surge, and bank shares dropped after several bank executives indicated March had been a tougher month than the previous two.
GM says no UAW health care deal yet, talks continue
General Motors Corp remains in talks with the United Auto Workers union on how to restructure the $20 billion it owes to a retiree health care fund and has not reached a deal, a spokeswoman for the automaker said on Friday.
U.S. mobile banking market set for take-off
Technology companies like Sybase and VeriSign are looking to tap robust growth in the nascent U.S. mobile banking market as text message use rises and banks aggressively explore ways to save.
GM offers UAW $10 bln in preferred stock: report
General Motors Corp has offered to convert half of a $20 billion funding obligation to a union-aligned retiree healthcare trust into preferred stock, business television station CNBC reported on Friday.
Wall St adds losses after JPMorgan comments
U.S. stocks tumbled further on Friday, with indexes sliding more than 2 percent after comments from JPMorgan Chase's chief executive that March was a little tough.
GM offers UAW $10 bln in preferred stock
General Motors Corp has offered to convert half of a $20 billion funding obligation to a union-aligned retiree healthcare trust into preferred stock, business television station CNBC reported on Friday.
Johnson Controls to cut more jobs, close 10 plants
Auto interiors and battery maker Johnson Controls Inc said it would close an additional 10 plants and cut more jobs than planned as it expects no near-term recovery in global auto production.
New technologies coming to Web start-ups' rescue
Web entrepreneurs are increasingly embracing new technologies from cloud computing to new computer languages to try and slash costs as investors disappear because of the recession.
Wall St wilts after strong rally
Stocks slipped on Friday as investors took profits following a recent surge, and energy shares drooped along with the price of oil.
Charter Communications files for bankruptcy
Charter Communications , the fourth largest-cable operator, filed for bankruptcy after becoming overwhelmed by a $24.2 billion debt load.
UBS says Swiss tax move does not weaken it in U.S
UBS said on Thursday a decision by Switzerland and other offshore centers to cooperate more on tax evasion did not weaken the Swiss bank's stance in an ongoing U.S. tax dispute.
Wal-Mart closing optical lab, 650 jobs affected
Wal-Mart Stores Inc is closing an optical lab in Ohio that employs roughly 650 workers, the world's biggest retailer said on Friday.
Deflation stalks Japan, resentment rises before G20
Japan edged closer to deflation, highlighting a threat to the world economy before next week's G20 summit where Europe and the United States may clash over stimulus plans, but seek common ground on regulating the financial system.
Las Vegas venture CityCenter may file for bankruptcy
CityCenter, an $8 billion Las Vegas project owned by MGM Mirage and Dubai World , is considering filing for bankruptcy, two sources familiar with the matter said on Friday.
KB Home posts narrower loss, and shares pop
KB Home posted a quarterly loss that was not as bad as Wall Street had expected, as orders rose and the builder took a smaller charge to write down the value of its landholdings, sending its shares up more than 10 percent.
U.S. consumer spending edges up
U.S. consumer spending rose for a second consecutive month in February and sentiment edged up in March, according to reports on Friday that backed views that the worst of the recession may be over.
Mobile software, data fees in spotlight at CTIA
Move over fancy, pricey cellphones. The buzz ahead of the annual CTIA wireless show next week is all about cheaper data plans and mobile software stores, where a few dollars can get you a game or other cool application to impress your friends.
Google to cut 200 sales, marketing jobs
Google Inc is cutting its sales and marketing team by roughly 200 employees, saying it had over-invested in certain parts of the company.
Stanford can’t pay lawyers, but defense team takes shape: report
The legal team which could represent alleged $8 billion Ponzi scheme fraudster Allen Stanford is being assembled, a Houston attorney says, despite Stanford’s inability to pay because of the government’s freeze on his assets.
CityCenter venture may file for bankruptcy: sources
CityCenter, an $8 billion Las Vegas project owned by MGM Mirage and Dubai World , is considering filing for bankruptcy, two sources familiar with the matter said on Friday.
