Asda to create 7,000 jobs, help long-term joblessReuters: Business News - LONDON (Reuters) - Asda, Britain's second-biggest grocer, plans to create about 7,000 jobs this year and committed to recruiting up to 3,000 long-term unemployed people for existing vacancies.
Canon profit tumbles, predicts further slideReuters: Business News -
TOKYO (Reuters) - Japan's Canon Inc , the world's largest digital camera maker, reported an 81 percent fall in quarterly profit and predicted a further slide in annual profit to a 14-year low this year, hi...
Toyota to recall more than 1.35 million cars worldwideReuters: Business News -
TOKYO (Reuters) - Toyota Motor Corp said on Wednesday it would recall more than 1.35 million Vitz and two other models globally to fix a defect in the seatbelt, a component in the exhaust system or both.
Fed to hold rates near zero, kickstart economyReuters: Business News -
WASHINGTON (Reuters) - The Federal Reserve will resume a key meeting on Wednesday to review options of how to restore U.S. growth, with its traditional interest rate policy tool already lowered almost to z...
Sun Micro beats consensus, shares rallyReuters: Business News -
SAN FRANCISCO (Reuters) - High-end computer and software company Sun Microsystems posted better-than-expected results as a strong software and open storage business cushioned declining overall sales, and i...
Yahoo posts higher profit but outlook weakReuters: Business News -
NEW YORK/SAN FRANCISCO (Reuters) - Yahoo Inc's fourth-quarter results beat Wall Street's low expectations, thanks to a series of cost cuts in a weak advertising market, sending its shares up 5 percent in a...
Target eliminates positions amid weak salesReuters: Business News -
NEW YORK (Reuters) - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 5...
CEO confidence plunges, long recession seenReuters: Business News -
DAVOS, Switzerland (Reuters) - Confidence among heads of the world's top companies meeting in Davos has tumbled to a new low, with the prospect of a long recession torpedoing faith in corporate prospects.
Consumer mood at record lows, house prices sagReuters: Business News - 10 hours ago
WASHINGTON (Reuters) - Consumer confidence plumbed historic lows in January and home prices fell at a record pace in November, data showed on Tuesday, highlighting a rapidly deteriorating economy.
CEO confidence plunges around the globeReuters: Business News - DAVOS, Switzerland (Reuters) - Confidence among leaders of the world's top companies meeting in Davos has nosedived to a new low, with recession and a worsening credit crisis torpedoing faith in corporate ...
Citigroup names chief of new company, scraps jetReuters: Business News - NEW YORK (Reuters) - Citigroup Inc, battered by massive losses that forced a government bailout, named a chief to temporarily oversee assets it is looking to shed, and scrapped plans to buy a $50 million j...
Yahoo posts higher profit but outlook weakReuters: Business News -NEW YORK (Reuters) - Yahoo Inc posted a stronger-than-expected fourth-quarter profit on Tuesday, after several months of cost-cutting initiatives in the face of a weak advertising market, sending its share...
Sun Micro loss beats consensus, shares rallyReuters: Business News -
SAN FRANCISCO (Reuters) - High-end computer and software company Sun Microsystems posted a smaller-than-expected quarterly loss as a strong software and open storage business cushioned crumbling overall sa...
Moody's says could cut GE's triple-A credit ratingReuters: Business News -
BOSTON (Reuters) - Moody's Investors Service said on Tuesday it was reviewing General Electric Co's triple-A credit ratings, which could lead to a downgrade, and its shares fell as much as 5 percent in ext...
Target eliminates positions amid weak salesReuters: Business News - NEW YORK (Reuters) - Discount retailer Target Corp said on Tuesday that it will cut roughly 600 jobs at its headquarters, leave another 400 positions unfilled and close a distribution center that employs 5...
Ex-AIG exec Milton sentenced to four years in prisonReuters: Business News -
NEW YORK (Reuters) - Christian Milton, a former executive at American International Group Inc was sentenced to four years in prison on Tuesday for his role in a reinsurance deal that prosecutors said misle...
Obama seeks Republican support for stimulus plansReuters: Business News - WASHINGTON (Reuters) - Democratic President Barack Obama tried on Tuesday to placate Republicans in Congress who insist his $825 billion plan for reviving the U.S. economy should include bigger tax cuts.
Regulators defend actions amid Madoff scandalReuters: Business News -
WASHINGTON (Reuters) - Top U.S. regulators defended their oversight of securities markets and said on Tuesday they had probed accused swindler Bernard Madoff's brokerage firm in the past, but found no evid...
Thain subpoenaed as probe into Merrill widensReuters: Business News - 18 hours ago
NEW YORK (Reuters) - New York's attorney general has subpoenaed former Merrill Lynch & Co Chief Executive John Thain to testify about bonuses paid to Merrill executives a few days before the brokerage's ta...
U.S. arrests, charges fund manager NadelReuters: Business News -
NEW YORK (Reuters) - Florida hedge fund manager Arthur Nadel, who went missing two weeks ago, turned himself in on Tuesday and was ordered held on securities and wire fraud charges until a bail hearing on ...
Consumer mood at record lows, house prices sagReuters: Business News -
WASHINGTON (Reuters) - Consumer confidence plumbed historic lows in January and home prices fell at a record pace in November, data showed on Tuesday, highlighting a rapidly deteriorating economy.
SEC official: agency did not detect Madoff fraudReuters: Business News -
WASHINGTON (Reuters) - The Securities and Exchange Commission did not examine the advisory operations of accused financial swindler Bernard Madoff despite the firm registering in September of 2006, a top S...
Most on Wall Street got smaller year-end bonus: surveyReuters: Business News -
NEW YORK (Reuters) - Most Wall Street professionals took home smaller year-end bonuses and nearly half were dissatisfied with their payout, according to a survey released on Tuesday.
Home prices plunge record 18.2 percentReuters: Business News -
NEW YORK (Reuters) - Home prices plunged a record 18.2 percent in November from a year earlier as the country's housing market remains in the throes of a deep recession, according to an index from Standard...
Verizon corporate sales fallReuters: Business News -
NEW YORK (Reuters) - Verizon Communications Inc reported weakness in corporate sales and fewer-than-expected wireless customers for the fourth quarter, and warned that pension costs would hurt earnings in ...
Chastised Citigroup grounds plan for new planeReuters: Business News -
NEW YORK (Reuters) - Citigroup Inc, which received a massive taxpayer-funded rescue last year, canceled plans to buy a $50 million executive jet after news of the new plane drew rebukes from politicians.
Hershey profit beats estimates, sticks by 2009 viewReuters: Business News - CHICAGO (Reuters) - Hershey Co posted higher-than-expected quarterly profit as it lifted sales of its namesake candy and Reese's brands by spending more on marketing.
Corning slashes up to 4,900 jobs to cut costsReuters: Business News -
NEW YORK (Reuters) - Corning Inc posted weaker-than-expected quarterly results and gave a weak forecast due to a significant decline in sales of glass for televisions and computer monitors, and said it wou...
Delta Air Lines reports quarterly net lossReuters: Business News -
CHICAGO (Reuters) - Delta Air Lines , the world's largest airline, reported a quarterly loss on merger costs and fuel hedge losses.
DuPont posts fourth-quarter loss, trims 2009 outlookReuters: Business News - NEW YORK (Reuters) - DuPont Co posted a bigger-than-expected fourth-quarter loss on Tuesday, hurt by restructuring-related charges, a widening global recession and a slump in consumer spending, and the che...
Wall St. rises as AmEx, other results reassureReuters: Business News - NEW YORK (Reuters) - U.S. stocks climbed on Tuesday, with the S&P 500 and the Nasdaq up for a third straight day as a rare bit of encouraging news on the earnings front from companies, including American E...
Bankers braced for bitter pill of regulationReuters: Business News -
DAVOS, Switzerland (Reuters) - Two years ago anyone uttering the words "state" and "regulation" in the same sentence would have been sneered at in high-powered banking circles gathered by the ski slopes of...
Siemens sticks to 2009 goals as eyes cost cutsReuters: Business News -
MUNICH (Reuters) - German industrial conglomerate Siemens stuck to its profit outlook, focusing on sourcing more components from low-cost countries after fiscal 2009 started well despite the knock-on effec...