Former Merrill execs invested in Madoff funds: report
Top former Merrill Lynch executives, including two former CEOs, invested in hedge funds that lost money with alleged fraudster Bernard Madoff, becoming the highest-level Wall Street victims of the scandal to date, the Wall Street Journal reported on Thursday.
Futures hit lows after GM comments
U.S. stock index futures fell to session lows on Thursday after beleaguered U.S. automaker General Motors Corp said there was substantial doubt about its ability to continue as a going concern.
GM says substantial doubt about ability to continue
General Motors Corp said on Thursday that substantial doubt existed about the ability of company to continue as a going concern.
Oil slips to near $44, demand concerns resurface
Oil fell more than a dollar toward $44 on Thursday, after surging nearly 9 percent in the previous session on a surprise drop in U.S. crude stocks that could signal recovering demand in the top energy consumer.
Index futures point to weaker Wall St open
The Dow Jones Industrial Average, Nasdaq 100 and S&P 500 share index futures were down between 0.4 and 1 percent on Thursday, pointing to a lower start on Wall Street.
European shares, FX fall before ECB, BoE moves
The euro and European shares slipped on Thursday ahead of expected interest rate cuts by the euro zone and British central banks, while Asian shares dipped on disappointment China did not announce new stimulus plans.
Euro slips as rate cut seen, Asia stocks falter
The euro and sterling slipped on Thursday ahead of expected rate cuts in Europe and the UK, while most Asian stock markets gave up early gains on disappointment that China did not announce new stimulus plans.
Oil slips under $45 after 9 percent jump, eyes U.S. data
Oil eased below $45 on Thursday, after surging nearly 9 percent overnight on government data showing a surprise drop in U.S. crude stocks, which could signal recovering demand in the world's top energy consumer.
Asian stocks gain on China hopes; caution lingers
Asian stocks extended gains on Thursday on hopes that a revival in China will support the weak global economy, while the euro fell on expectations the European Central Bank will cut rates to an all-time low later in the day.
Former Merril execs invested in Madoff funds: report
Top former Merrill Lynch executives, including two former CEOs, invested in hedge funds that lost money with alleged fraudster Bernard Madoff, becoming the highest-level Wall Street victims of the scandal to date, the Wall Street Journal reported on Thursday.
Google CEO: We letting cash 'pile up'
Google Inc plans to let its cash pile up as it weathers an economic recession but doesn't expect to see a fall in revenue, the Web search leader's Chief Executive Eric Schmidt said on Wednesday.
ExxonMobil partners with NCAF in training program
Exxon Mobil Corp. and the National Community Action Foundation entered a new partnership on Wednesday, aiming to enhance worker training programs around the country.
UBS had 47K accounts from Americans who didn't pay U.S. taxes
UBS had 47,000 accounts from U.S. Citizens who didn’t pay U.S. taxes on their assets, a top executive from the Swiss bank confirmed on Wednesday.
Britain ready to talk with Hezbollah
On Wednesday Britain said it was prepared to engage in direct contacts with the political wing of Lebanese militant group Hezbollah, the AFP reported.
Oil steady above $45 after 9 percent jump
Oil hovered above $45 on Thursday, after surging nearly 9 percent overnight on government data showing a surprise drop in U.S. crude stocks, which could signal recovering demand in the world's top energy consumer.
Madoff’s attorney receives death threats: report
Ira Lee Sorkin, the lawyer representing embattled financier Bernard L. Madoff, has received death threats for defending his client, according to a report.
Oil steady under $45 after 9 percent jump
Oil hovered below $45 on Thursday, after surging nearly 9 percent overnight on government data showing a surprise drop in U.S. crude stocks, which could signal recovering demand in the world's top energy consumer.
Citi's Mexico execs buy shares in show of confidence: report
Citigroup executives in Mexico have bough millions of shares in the beleaguered U.S. bank as a show of confidence, a spokesman for the bank' Mexican unit told Reuters.
YouTube, Universal Music close to partnering on new hub for music videos
YouTube and Universal Music Group, the nation’s largest recording company, are in talks to enter a partnership that would create a new music video hub powered by YouTube.
Google CEO doesn't foresee decline in revenue
Google Inc CEO Eric Schmidt said the economic storm will affect all forms of advertising, including the online ads that Google depends on, but said that he doesn't expect Google to experience a decline in revenue.
Toronto Airport Marriott has new look following Multi-Million Dollar Renovation
The Toronto Airport Marriott recently completed a 12-million dollar renovation aimed at revitalizing their guest rooms, meeting space, restaurant, lounge and lobby.
YouTube and Universal talk on music video site: sources
Google Inc's YouTube and Universal Music Group are in talks to create a premium online music video service, sources familiar with the situation said on Wednesday.
Big French press find brand power helps online
In a grimy part of eastern Paris a morning editorial conference is underway, similar to the planning meetings that go on in newsrooms everywhere, except this one is being blogged live and readers can join in.
Seven Merrill execs subpoenaed in New York on pay
New York state's top legal officer issued subpoenas on Wednesday to seven executives who received tens of millions of dollars in 2008 pay from Merrill Lynch & Co before it was taken over by Bank of America , a person familiar with the investigation said.
UBS refuses to give U.S. names, replaces chairman
Switzerland's largest bank held its ground on Wednesday in a dispute with the U.S. government, refusing to disclose the names of tens of thousands of rich American clients suspected by U.S. authorities of using secret Swiss bank accounts to dodge U.S. taxes.
Seoul shares seen up on China hopes, eyes on won
Seoul shares are set to rise on Thursday after solid gains on Wall Street, with news that an additional Chinese stimulus package is in the works likely to boost sentiment and eyes on the won currency.
Eland tops its category and wins Sunday Times award
International cable supplier, Eland Cables, achieved the highest ever rank of any electrical cable supplier, taking home the ‘Best Companies to Work for’ in 2009 from The Sunday Times.
Lahore attack grips Pakistan, police hunt gunmen
Pakistani investigators were following important leads to identify who was behind the attack on the Sri Lankan cricket team in Lahore, Foreign Minister Shah Mehmood Qureshi said on Wednesday.
U.S. launches $75 billion mortgage plan to aid homeowners
The Obama administration on Wednesday launched a $75 billion foreclosure relief plan, as new data showed one in five U.S. homeowners with mortgages owe more than their house is worth.
CORRECTED: U.S. launches mortgage plan as homeowners struggle
WASHINGTON/NEW YORK - The Obama administration on Wednesday launched a $75 billion foreclosure relief plan, as new data showed one in five U.S. homeowners with mortgages owe more than their house is worth.
