Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights.
For months, Yahoo has been in crisis. Market share fell. CEO Carol Bartz was fired. A Chinese tycoon said he?d buy the company.
Pirates based on the coast of northern Somalia hijacked a Greek-owned oil tanker in the Arabian Sea with a crew of 15, mostly Indians and Filipinos.
Asian markets fell at week's end as Greece's inability to form a government, uninspiring Chinese industrial output growth and JPMorgan's trading losses affected investor sentiment.
Fitch Ratings on Friday downgraded JPMorgan Chase & Co. (NYSE: JPM), which just revealed at least $2 billion in losses on questionable trading. The downgrade came on the same day that a U.S. senator called for a Congressional probe of the giant bank and the head of the Securities and Exchange Commission confirmed that her agents are eyeing the money center's hedging activity.
About 250 AI pilots remain on strike, having called in sick since Monday.
Kris Humphries may be locked in a contentious divorce battle with soon-to-be-ex-wife Kim Kardashian, but he hasn't lost his sense of humor (assuming he ever had one?) Playing on his douchebag persona, Humphries has made a Funny or Die video where he tries to capitalize on his image.
The earnings calendar for the week ahead will be comparatively light, but a number of bellwether companies will be reporting results.
China Thursday ordered four international auditing firms in the country to hire Chinese nationals in a bid to suppress foreign control of their operations in the country.
The companies whose shares are moving in pre-market trading on Friday are: Pluristem Therapeutics Inc, Mechel OAO, Zynga Inc, JPMorgan Chase & Co, Citigroup Inc, Morgan Stanley and Apartment Investment and Management Co.
The top after-market NASDAQ gainers Thursday were: Arena Pharmaceuticals, Inc., Brooks Automation, Inc., Orexigen Therapeutics, Inc., Mindspeed Technologies, Inc. and Leap Wireless International, Inc. The top after-market NASDAQ losers were: Amtech Systems, Inc., American Public Education, Inc., Codexis, Inc., Nuance Communications, Inc. and SciClone Pharmaceuticals, Inc.
All bookings on flights to the United States, Canada and Europe until May 15 have been put on hold.
Apple Inc. (NASDAQ: AAPL) and its primary iPad and iPhone supplier, Foxconn Technology Company Ltd. (Taipei: 2354), will share the costs of improving labor conditions inChinese factories, Foxconn CEO Terry Gou said.
Vidal Sassoon's death yesterday at 84 years old brought out a startling admission among many in the Twitterverse: They didn't realize Sassoon, the iconic English-born hairdresser who has a line of hair products that bear his name, was actually a real person.
The Global Fund, a leading financier in the struggle against AIDS, tuberculosis and malaria, expects to have an additional $1.6 billion to fund projects in 2012-2014, its new chief said on Wednesday, a turnaround from a funding freeze last year.
Consumer electronics and entertainment giant Sony Corp reported Thursday a record net loss for the fiscal year ended March but pinned hopes on a restructuring strategy to return to profit this year.
Where to watch live coverage of the Europa League final between Atletico Madrid and Athletic Bilbao, plus a full preview, prediction and probable lineups.
AOL is shopping TechCrunch, Engadget, Joystiq and other properties of AOL Tech according to a recent PandoDaily report.
GlaxoSmithKline Plc (NYSE: GSK) will begin a $2.6 billion hostile takeover bid for Human Genome Sciences (NASDAQ: HGSI), the company announced Wednesday.
Wholesalers increased their stockpiles modestly in March, but by less than economists had expected, as the value of petroleum stocks dropped by the most in nearly two years.
A camera in a Cameroon forest was able to capture footage of an elusive tribe of Cross River gorillas, a critically endangered species in Africa, in their natural habitat.
