Business News

Piramal Health says Glaxo, Sanofi acquisition reports unfounded
Reuters: Business News - 3 hours ago
MUMBAI (Reuters) - Indian drug maker Piramal Healthcare Ltd said reports about a potential sale of the company to GlaxoSmithKline Plc or Sanofi Aventis SA were 'unfounded.'
Treasury to approve insurers for TARP funds: sources
Reuters: Business News - 10 hours ago
WASHINGTON (Reuters) - Insurance companies that applied for capital injections from the government's $700 billion financial bailout fund could get approval as soon as Monday, two sources familiar with the ...
GM may cut thousands of salaried workers: report
Reuters: Business News - 15 hours ago
CHICAGO (Reuters) - General Motors Corp. is developing a plan to fire up to 5,000 salaried employees as it tries to cut costs by a March 31 deadline to keep $13.4 billion in U.S. government aid, according ...
U.S. linking bank aid to loan changes: sources
Reuters: Business News - 15 hours ago
WILLIAMSBURG, Virginia (Reuters) - U.S. Treasury chief Timothy Geithner said on Saturday that banks getting public aid under a new rescue plan must help struggling homeowners by reworking their mortgages, ...
Regulators close 3 more U.S. banks
Reuters: Business News - 1 day ago
WASHINGTON (Reuters) - Regulators closed banks on Friday in Georgia and California, bringing the total of U.S. bank failures to nine this year.
U.S. bank plan to offer asset support, mortgage help
Reuters: Business News - 1 day ago
WASHINGTON (Reuters) - The Obama administration's eagerly-awaited bank rescue plan will offer to insure some distressed assets held by banks, authorize the government to purchase others, and spend up to $1...
U.S. weighs new auto industry help, no decision yet
Reuters: Business News - 1 day ago
WASHINGTON (Reuters) - The Obama administration is talking with U.S. auto industry about more help, but no decisions are expected until General Motors Corp and Chrysler LLC submit turnaround plans to the g...
Fed's Yellen sees dynamics similar to Depression
Reuters: Business News - 1 day ago
KOHALA COAST, Hawaii (Reuters) - The United States is not facing a downturn as deep as the Great Depression, but many of the current dynamics are similar, driving the need for "urgent, aggressive action" t...
SEC looks to reassure investors
Reuters: Business News - 1 day ago
NEW YORK (Reuters) - Securities and Exchange Commission officials looked to reassure investors on Friday that they would reinvigorate the agency's policing of Wall Street, improve the quality of credit rat...
Fed's Yellen says urgent action needed on economy
Reuters: Business News - 1 day ago
KOHALA COAST, Hawaii (Reuters) - The U.S. economy could start to grow again by late 2009, but policy-makers must take urgent, aggressive action to boost demand and create jobs, the president of the San Fra...
Emerson to cut up to 14,000 jobs
Reuters: Business News - 1 day ago
NEW YORK (Reuters) - Industrial conglomerate Emerson Electric Co could cut its workforce by up to 14,000 from current levels by the end of the fiscal year that ends in October, Emerson Chief Executive Davi...
Geithner to outline U.S. banking fix on Monday
Reuters: Business News - 1 day ago
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner will spell out a "comprehensive plan" on Monday to stabilize the financial system, the Treasury Department said on Friday.
Harvard to cut 25 percent of investment unit's staff
Reuters: Business News - 1 day ago
BOSTON (Reuters) - Harvard University is sending pink slips to about one-quarter of its investment management staff after the school's endowment shrank by about 22 percent and its president said cost cuts ...
U.S. consumers missing more debt payments
Reuters: Business News - 1 day ago
NEW YORK (Reuters) - U.S. consumers are falling further behind on their debt payments even as both borrowers and lenders struggle to keep the debt burden from getting even heavier in the face of a worsenin...
SEC says magnitude of Ponzi schemes growing
Reuters: Business News - 1 day ago
WASHINGTON (Reuters) - The frequency of Ponzi schemes is not increasing but the magnitude of the frauds is, a Securities and Exchange Commission official said on Friday.
GE "to evaluate" dividend for second half
Reuters: Business News - 1 day ago
BOSTON (Reuters) - General Electric Co will evaluate its planned second-half dividend in light of the slumping global economy, the U.S. conglomerate said on Friday, leaving open the possibility of a cut in...
Biogen cuts Tysabri outlook
Reuters: Business News - 1 day ago
BOSTON (Reuters) - Biogen Idec Inc scaled back growth projections for its multiple sclerosis drug Tysabri on Friday and said another patient has developed the potentially deadly brain infection known as PM...
U.S. job losses accelerate
Reuters: Business News - 1 day ago
WASHINGTON (Reuters) - U.S. employers slashed 598,000 jobs in January, the biggest monthly loss in 34 years, and the jobless rate soared to a 16-year peak, putting pressure on lawmakers to act quickly to c...
Julius Baer confirms trading incident
Reuters: Business News - 1 day ago
ZURICH (Reuters) - Swiss bank Julius Baer said on Friday it had suffered a "minor trading incident" last year, playing down investor concerns over an anonymous letter which said employees hid losses.
Oil falls $1 as U.S. job losses mount
Reuters: Business News - 1 day ago
NEW YORK (Reuters) - Oil prices fell $1 on Friday as news of the largest job cuts in 30 years in the United States signaled still weaker demand in the world's biggest oil consumer