Business News
                                                                    

May 09, 2008 12:44PM

Citigroup aims to shed $400 billion of assets (Reuters)

Reuters - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

May 09, 2008 01:30PM

AIG's loss and record oil sour mood on Wall St (Reuters)

Reuters - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.

May 09, 2008 11:43AM

AIG sees no signs of mortgage asset market rebound yet (Reuters)

Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.

May 09, 2008 12:45PM

Oil hits record $126 on supply worry (Reuters)

Reuters - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.

May 09, 2008 12:39PM

Countrywide falls on worry over B of A merger (Reuters)

Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.

May 09, 2008 02:11PM

Blockbuster, Icahn Open Up Circuit City - Forbes

CNNMoney.com

Blockbuster, Icahn Open Up Circuit City Forbes - 4 hours ago On Friday Circuit City Stores (nyse: CC - news - people ) said it opened its books to would-be suitor Blockbuster (nyse: BBI - news - people ) and the rental chain's largest shareholder, billionaire activist investor Carl Icahn. Circuit City agrees to open books for Blockbuster MarketWatch Circuit City Puts Itself Up for Sale, Hires Goldman (Update5) Bloomberg CNNMoney.com - New York Times - Bizjournals.com - Wall Street Journal all 515 news articles

May 09, 2008 03:51PM

MARKET SNAPSHOT: US Stocks Decline On Credit Turmoil; Weekly ... - CNNMoney.com

The Money Times

MARKET SNAPSHOT: US Stocks Decline On Credit Turmoil; Weekly ... CNNMoney.com - 2 hours ago US stocks fell on Friday, with the major indexes all hit with weekly losses of 1% and more, as the financial sector spouted more leaks after American International Group Inc. reported a $7.8 billion loss and Citigroup Inc. unveiled plans to shed about ... US Stocks Fall, Led by Financial, Commodity Shares; AIG Drops Bloomberg Stocks decline as AIG reveals need for cash, oil surges Houston Chronicle BusinessWeek - TheStreet.com - Forbes - USA Today all 609 news articles

May 09, 2008 02:07PM

Citigroup Plans to Shed About $400 Billion of Assets (Update7) - Bloomberg

Hürriyet

Citigroup Plans to Shed About $400 Billion of Assets (Update7) Bloomberg - 4 hours ago By Josh Fineman May 9 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit plans to get rid of about $400 billion of assets over the next three years as he starts to whittle away at the company built by Sanford ``Sandy'' Weill. Citigroup to shed more than $400B CNNMoney.com Pandit's Shrinking Citi Forbes Reuters - TheStreet.com - Times Online - Herald Zeitung all 458 news articles

May 09, 2008 06:01PM

FedEx cuts profit forecast on fuel costs - Reuters

Sabah

FedEx cuts profit forecast on fuel costs Reuters - 47 minutes ago BOSTON (Reuters) - Package delivery company FedEx Corp (FDX.N: Quote, Profile, Research) slashed its quarterly earnings forecast on Friday, blaming surging fuel prices and a drop in demand caused by the weak economy, sending its shares down 3 percent. FedEx cuts 4Q profit forecast, blames fuel costs BusinessWeek FedEx Lowers Profit Outlook, Cites Higher Fuel Costs (Update3) Bloomberg Bizjournals.com - Wall Street Journal - MarketWatch - International Business Times all 110 news articles

May 09, 2008 01:07PM

Hopes For Microsoft Takeover Continue To Buoy Yahoo Shares - CNNMoney.com

CNNMoney.com

Hopes For Microsoft Takeover Continue To Buoy Yahoo Shares CNNMoney.com - 5 hours ago SAN FRANCISCO -(Dow Jones)- Yahoo Inc. (YHOO) shares have so far defied expectations by hovering near $26 almost one week after Microsoft Corp. Google-Yahoo: Deal or No Deal? New York Times Blogs Inside Microsoft's War Against Google BusinessWeek Forbes - Reuters - TheStreet.com - Computerworld all 920 news articles

Kiyoe Minami on May 07, 2008 07:00PM

Japan's 40 Richest

The wealthiest in the world's second-largest economy make gains.

Kiyoe Minami on May 07, 2008 07:00PM

Japan's 40 Richest

The wealthiest in the world's second-largest economy make uneven gains.

Oxford Analytica on May 07, 2008 03:00AM

In Ireland, New Leadership, New Challenges

PM's resignation raises questions about the future of north-south relations amid an economic slowdown.

Oxford Analytica on May 06, 2008 03:00AM

U.S. Prison Policy Needs Reform

Many of the nation's economic and social problems stem from excessive incarceration rates.

Sponsor's Content: The Bottom Line on Sustainability

Research indicates a clear connection between a company's sustainability practices and the price of its shares. What's not so apparent is whether it's just a feel-good idea or actually good for cash flow.

May 09, 2008 06:18AM

Repossession orders climb by 17%

The number of people under threat of losing their homes has risen sharply in England and Wales, figures show.

May 09, 2008 08:31AM

French swoop for British Energy

French utility EDF makes an offer for British Energy, although the price has not been disclosed.

May 09, 2008 03:45PM

Tackling under-age online sales

Young people are using the anonymity of the web to buy goods suitable only for adults but software could stop that.

May 09, 2008 05:10PM

Alarm at Google Yahoo partnering

US advocacy groups urge regulators to block any deal Google and Yahoo might strike after a two-week experiment.

May 09, 2008 09:33AM

Microsoft contests $1.4bn EU fine

Microsoft appeals against a $1.4bn fine given for defying sanctions imposed on it for anti-competitive behaviour.