Bear Stearns and CITIC set alliance
Bear Stearns Cos, the U.S. investment bank battered by slumping mortgage markets, and China's CITIC Securities Co have agreed to swap stakes in each other and form a broad alliance, the firms said on Monday.
The deal would bolster access to business in booming China for Bear, which lags bigger Wall Street rivals in expanding its business beyond the United States.
Electrolux flat disappoints
Electrolux undershot forecasts with flat quarterly earnings on Monday as new product launches cost more than expected, and said its outlook for higher full-year earnings had grown more uncertain.
Company earnings seen up 1.8 percent this week
Third quarter U.S. corporate earnings are expected to show a lower increase next week, weighed down by consumer and financial sectors, Reuters Estimates said on Monday.
Wal-Mart to acquire rest of Japan retailer Seiyu
Wal-Mart Stores Inc will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd in an effort to turn around the money-losing chain.
Futures fall on earnings jitters
Stock futures declined on Monday, suggesting a lower opening for Wall Street, hit by weakness in global markets and concern that credit problems may be having a wider impact on earnings.
Gold falls 1.5 percent on profit-taking
Gold shrugged off a tumbling U.S. dollar to fall more than 1 percent on Monday as investors cashed in on the metal's rally to a near three-decade high.
Greenback hits new lows
The dollar hit a record low against the euro on Monday as traders seized on Group of Seven finance officials' apparent indifference toward dollar weakness as a cue to dump the ailing greenback.
Tokyo soccer robots don't quite have Becks appeal
David Beckham doesn't have anything to fear from robot players -- for now. At an indoor field in Tokyo, dozens of robots played soccer while others danced to samba music to cheer them on.
Iran's hawks winning nuclear policy argument
A change in Iran's top nuclear negotiator indicates President Mahmoud Ahmadinejad and those who oppose any compromise in an atomic standoff with the West are winning the policy argument in the Islamic Republic.
E3 video game trade show in radical downsizing
When the annual trade show once known simply as E3 kicks off this week, attendees will discover a distinctly downsized event.
Bridgestone aims for 80 percent profit boost in 5 years
Bridgestone Corp aims to boost annual profit by 80 percent and sales by a fifth over the next five years as it steps up its quest to be the world's biggest tire maker.
ECB policymakers say growth OK, differ on inflation
Financial market turbulence should have only a limited impact on euro-zone growth, European Central Bank policymakers said at weekend meetings of global financial officials in Washington.
Economic, credit worries rattle investors
Worries about the world-leading U.S. economy and fears over bank credit rippled across financial markets on Monday, sending stocks sharply lower and dragging the dollar to a record low against the euro.
China unveils likely successors to top posts
China's ruling Communist Party unveiled a new leadership line-up on Monday, including two men positioned to eventually succeed President Hu Jintao and government head Premier Wen Jiabao.
Oil extends fall to $88
Oil prices fell on Monday, extending the previous session's decline on profit taking from record highs, but clung to $88 on violence between Turkish soldiers and Kurdish guerrillas and a record-low dollar.
Group of Seven fail to address dollar decline
Fiscal policy makers from the Group of Seven meeting this week in Washington this week did not specifically address the issue of the dollar trading near all-time lows versus the euro in recent weeks.
Surprise! Internet actually a boon for books
So much for predictions that the Web would crush the book publishing industry.
Affordable art lures buyers
Affordable art sounds like a contradiction in terms these days, but there are some cheap alternatives.
New Web entrepreneurs sure they will find a home
Startup companies are confident that the Internet still has room for new ideas.
Chrysler deal vote mixed in early results
United Auto Workers members at a major Chrysler LLC assembly plant in St. Louis have overwhelmingly rejected a proposed contract with Chrysler, delivering a setback to union leadership in early voting on the four-year deal.
Halo 3 drives September U.S. video game sales
U.S. sales of video game hardware and software jumped 75 percent in September, driven by Microsoft Corp's Halo 3 and Nintendo Co Ltd's Wii console.
AT&T says plans to participate in wireless auction
AT&T Inc said on Friday it plans to participate in an upcoming government auction of airwaves in the 700-Megahertz spectrum band, but it is still deciding whether to bid for a portion of the spectrum reserved for open access.
Wal-Mart tries to stop early Black Friday ad posts
Wal-Mart's lawyers have an early holiday message for Web sites that post Black Friday ads ahead of their official release date: Don't do it.
Bush expands sanctions against Myanmar rulers
President George W. Bush expanded U.S. sanctions against Myanmar's rulers on Friday, accusing them of "vicious persecution" of democracy protesters, and urged China and India to step up pressure on their neighbor.
Wall Street sinks on Black Monday's anniversary
Caterpillar Inc.'s warning that the housing slump was infecting the wider economy sent U.S. stocks tumbling by the most in more than two months on Friday, spooking investors on the 20th anniversary of the 1987 market crash.
Concerns over Black Monday redux
The 20th anniversary of the stock market's brutal 1987 crash have some wondering if it could happen again in today's market.
G7 finance chiefs aim to calm uneasy global markets
With global economic growth waning and a credit crunch threatening, finance chiefs from rich nations were gathering on Friday to mull how to control strains in financial markets and keep expansion going.
Wachovia profit falls on write-downs
Wachovia Corp posted on Friday a 10 percent decline in third-quarter profit, missing forecasts, as the fourth-largest U.S. bank suffered $1.3 billion of write-downs at its investment banking unit.
Caterpillar net misses expectations
Caterpillar Inc, the world's top maker of earth-moving equipment, diesel engines and gas turbines, posted disappointing quarterly earnings on Friday and cut its full-year forecast, sending its shares down 3.5 percent.
Bear Stearns in probe over funds: report
Bear Stearns Cos is being investigated by Massachusetts securities regulators over whether the bank improperly traded with two in-house hedge funds that collapsed last summer, the Wall Street Journal reported on Friday.
