Stocks edge up as financials lose steam
Stocks edged higher on Monday after central banks pumped more cash into the global financial system and a report showed U.S. consumers spent more freely than expected last month.
Blackstone finds new deals tougher
Blackstone Group LP is finding it more difficult to find new deals as credit markets tighten, which will affect near-term results, President Hamilton James said on Monday.
Hovnanian sees charge for land write-offs
Facing continued deterioration in the U.S. housing market, upscale home builder Hovnanian Enterprises Inc. said on Monday that it expects to take a charge of $90 million to $110 million related to land impairments and write-offs.
Fugitive Alexander secures extradition delay
Fugitive U.S. millionaire Jacob 'Kobi' Alexander, who has made political connections and pledged to invest millions of dollars in Namibia, secured another delay in his extradition hearing on Monday.
Central banks add money for third day
Central banks in the world's leading economies pumped money for a third day into the financial system on Monday, but in smaller amounts as investor nerves steadied over the dangers of a credit squeeze.
Temporary jobs drop may augur slower growth
The economy has added non-farm jobs at a steady pace so far this year, but with businesses cutting back on hiring temporary workers, economists say the labor market may be on course to weaken.
China inflation surges, but not yet a global peril
As China's export prices rise, a pressing global debate is emerging: is the 'China price' pumping up world inflation?
Investors beginning to scent buying opportunities
With world stocks have fallen more than 7 percent in a month and some indexes down more than 10 percent from their highs, some market players are saying the time is near to buy.
Goldman, others investing $3 billion in hedge fund
Investment bank Goldman Sachs Group said on Monday it and outside investors would pour $3 billion of new capital into Goldman's Global Equity Opportunities fund, a long-short quantitative hedge fund hurt by recent market volatility. In the statement, Goldman acknowledged for the first time that market conditions had led to fund losses.
Blackstone net income more than triples
Blackstone Group (NYSE: BX) said on Monday quarterly net income more than tripled -- boosted by merger and real estate deals -- but revenue at the private equity powerhouse fell below analysts' estimates in its first earnings report as a publicly traded company.
Oil rises above $72
Oil prices climbed above $72 a barrel on Monday as calming financial markets on the back of cash injections by central banks worldwide put the spotlight back on robust energy demand expectations.
Asia's central banks move to calm nervous markets
Asia's central banks took further steps on Monday to calm markets roiled by fears over a credit squeeze, with the Bank of Japan injecting $5.1 billion into the banking system and others pledging to follow suit if needed.
Wipro in talks for Boeing IT svcs contract: official
India's third-largest software services exporter, Wipro Ltd., is in talks for software and technological support contract for an upcoming Boeing facility in India, an official said on Monday.
New suspicious payments uncovered at Siemens: report
Internal investigators have uncovered more than 1 billion euros ($1.4 billion) of dubious payments at Siemens' telecoms and turbines divisions, far more than previously thought, the Sueddeutsche Zeitung said.
Venezuela's Chavez says oil headed for $100 barrel
World oil prices are headed for $100 per barrel, Venezuelan President Hugo Chavez predicted on Saturday, and said he will cut supplies to the United States if the U.S. government attacks the South American nation again.
China jails reporter for cardboard dumpling hoax
A Chinese court on Sunday sentenced a television reporter to one year in jail for fabricating a report that Beijing dumpling makers used cardboard as a filling.
Economic policy mistakes hurt Iraq: U.S. official
Years of economic policy mistakes after the fall of Saddam Hussein left unemployed young Iraqis easy targets for recruitment by al Qaeda and other insurgents, a U.S. Defense Department official said on Sunday.
China's central bank says economic data flashing danger
China's economic indicators may have entered the danger zone, forcing the central bank to continue tightening steps to prevent the economy from overheating, a senior central bank official said in remarks published on Monday.
U.S. nuclear deal protests disrupt Indian parliament
Noisy protests against a historic but controversial nuclear energy deal between India and the United States disrupted the Indian parliament on Monday as lawmakers demanded the government cancel the agreement.
New York co-op boards teach lenders a lesson
In Manhattan, the much maligned apartment co-op board, famous for rejecting notables such as Richard Nixon and Mariah Carey, may turn out to have been the last line of defense against risky lending practices.
China recall toy factory boss hangs himself: report
The boss of a Chinese toy manufacturing company involved in a Mattel recall after its products were found to contain excessive lead levels has hanged himself, Chinese media reported on Monday.
PepsiCo to buy Russia's Lebedyansky: report
The world's No.2 soft drink firm PepsiCo has agreed to buy Russia's top juice maker Lebedyansky for $1.5-2 billion to boost its modest Russian juice market share, a newspaper reported on Monday.
Asian stocks tentatively higher, yen steady
Asian stock markets made a tentative recovery on Monday following last week's hammering as fears of a global credit crisis eased after central banks around the world pumped money into banking systems.
China's mortgage quality worse than U.S.: academic
The quality of Chinese home loans is worse than in the United States, where a subprime mortgage crisis is causing turmoil in global financial markets, according to a prominent academic quoted in a Hong Kong newspaper on Sunday.
Lenovo business up, but stock may be overpriced: Barrons
Stock of Lenovo Group Ltd, the world's No. 3 maker of personal computers, may be overpriced when compared with its peers Hewlett-Packard and Dell , Barron's said on Sunday.
Source says Sanyo mulling cellphone operation sale
Japan's Sanyo Electric Co. Ltd. is considering selling its loss-making mobile phone operations and is already in preliminary talks with several domestic cellphone makers, a source close to the matter said.
Growth spurt no mask for eastern German problems
Between the shelves of product catalogues on the wall of a spartan office in an eastern German lighting factory sits a framed quotation, in bold black lettering on silver paper, from Winston Churchill.
Amgen cutting costs as key anemia drug sales fall
Biotechnology giant Amgen Inc is gearing up for cost cuts as it weathers a siege on its lucrative anemia drug business that accounted for about half of its sales last year.
Sources say IPIC to choose bidders for Hyundai stake
Abu Dhabi's International Petroleum Investment Co. (IPIC), top shareholder of South Korea's Hyundai Oilbank Corp., will pick preferred bidders for a 35 percent stake in the refiner, sources close to the deal said on Monday.
China Public provides surveillance software: report
U.S.-financed China Public Security Technology will provide software that links to at least 20,000 police surveillance cameras being installed along streets in southern China, according to the New York Times on Sunday.