Oil giant BP said it would cut four quarters of dividends, significantly reduce its investment program and sell $10 billion of assets to fund a planned $20 billion fund to pay for its Gulf of Mexico oil spill.
A New Jersey woman was arrested on Wednesday and charged with running a $45 million Ponzi scheme in which she allegedly promised investors high returns from real estate, but instead used their money to repay other investors and gamble at casinos.
Cablevision Systems announced a one-two punch to acquire Bresnan Communications for $1.37 billion and repurchase $500 million of its own stock, sending shares up 6.2 percent as investors cheered moves to expand its business while rewarding shareholders.
A pilots' strike at Spirit Airlines prompted the carrier on Monday to extend flight cancellations through mid-week, with shares of rivals moving higher on prospects of more business.
Stocks rose in a late rally on Friday as a strong forecast from a chip maker lifted tech shares and helped alleviate concerns about the economy's health after an unexpected drop in retail sales.
Stocks rose in a late rally on Friday as a strong forecast from a chip maker lifted tech shares and helped alleviate concerns about the economy's health after an unexpected drop in retail sales.
The Dow and the S&P 500 declined on Friday as May retail sales unexpectedly fell, though a better-than-expected read on consumer sentiment and strength in tech lifted the Nasdaq.
Sales at retailers unexpectedly fell in May for the first time since September, pulled down by a record slump in purchases of building materials, according to a government report on Friday that added to fears the economic recovery was losing some muscle.
Stocks were set for a lower open on Friday after sales at U.S. retailers unexpectedly fell in May, stirring fears the economic recovery was losing some steam.
Hewlett-Packard Co was sued on Wednesday by a New Jersey company that accused it of stealing and using its trade secrets to make replacement laser printer cartridges, and threatening its survival.
The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted Exxon, while the Nasdaq fell after an analyst cut price targets on tech bellwethers such as Amazon.com.
Wall Street was set for a slightly higher open on Monday after a sharp decline Friday, as strong German factory data eased concerns about a wobbly European economy and the S&P looked for support at a key technical level.
McDonald's Corp has recalled at least 13.4 million Shrek-themed drinking glasses in the United States and Canada after consumers were warned to stop using them because they contain the toxic metal cadmium.
McDonald's Corp has recalled at least 13.3 million Shrek-themed drinking glasses in the United States and Canada after consumers were warned to stop using them because they contain the toxic metal cadmium.
McDonald's Corp has recalled 12 million Shrek-themed drinking glasses in the United States after a federal agency warned consumers to stop using them because they contain the toxic metal cadmium.
(Corrects number of drinking glasses in stores or not yet shipped in paragraph 12)
In third to last paragraph, corrects that Schering-Plough, not J&J, hired Hassan in 2003
U.S. private employers hired fewer workers than expected in May, a setback for the labor market recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.
Private employers hired fewer workers than expected in May, a setback for the labor market recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.
U.S. nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply, disappointing investors looking for a stronger figure.
U.S. consumers are venting frustration over the BP oil spill, demonstrating at gas stations and corporate offices, drumming up support on Facebook and waging a mock public relations campaign on Twitter.
