Reuters - Investment bank Lehman Brothers
Holdings Inc will begin cutting jobs starting next
week, CNBC Television reported on Friday, without citing
sources.
Reuters - The United Auto Workers and American
Axle & Manufacturing Holdings Inc reached a tentative
contract agreement late Friday aimed at ending an 11-week-long
strike that had triggered thousands of layoffs and cost General
Motors Corp at least $1 billion. -- read full article
Sat, 17 May 2008 06:07:25 GMT - Yahoo! News: Business
Reuters - U.S. consumer confidence tumbled to a
28-year low this month as rising prices strained household
finances, while another drop in single-family housing starts
underscored problems still plaguing the economy.
Reuters - Stocks finished little changed on
Friday as surging oil prices lifted energy shares and offset
data that showed consumer confidence sank to its lowest in 28
years.
Reuters - Morgan Stanley cut 1,500 jobs
this week across its investment banking, trading and asset
management businesses, a person familiar with the situation
said Friday, a 5 percent reduction of non-broker employees.
Reuters - Macy's Inc and FAO Schwarz said
on Friday they signed an agreement under which the specialty
U.S. toy retailer's toy stores will be opened in about 685
Macy's locations over the next two years.
Reuters - Sumitomo Mitsui Financial Group (8316.T)
reported a threefold increase in fourth-quarter profit,
rebounding from massive losses at its consumer finance unit a
year earlier, and it forecast modest growth ahead. -- read full article
Fri, 16 May 2008 08:55:09 GMT - Yahoo! News: Business
AP - The world economy is "teetering on the brink" of a severe downturn and is expected to grow only 1.8 percent in 2008, the United Nations said in its mid-year economic projections Thursday.
Reuters - Fannie Mae is expected to
announce on Friday that it is getting rid of a policy that
requires higher down payments on home mortgages in areas where
home prices are dipping, the Wall Street Journal reported. -- read full article
Fri, 16 May 2008 09:57:37 GMT - Yahoo! News: Business
Reuters - Wal-Mart Stores Inc intends to
prepare and serve food in its planned small-format stores, the
Financial Times said on Friday, as it competes with British
retailer Tesco's Fresh & Easy markets.
Reuters - Warren Buffett's Berkshire Hathaway Inc
(BRKa.N) has pulled out of the bidding in Royal Bank of
Scotland's 7 billion pound ($13.62 billion) auction of
its UK insurance business, the Financial Times reported on
Friday.
Reuters - The United States should cut barriers to
its markets to help it tackle economic turmoil, and boost
exports to deal with its current account deficit, the World
Trade Organisation (WTO) said. -- read full article
Fri, 16 May 2008 09:36:31 GMT - Yahoo! News: Business
Reuters - Two weeks after Microsoft Corp
abandoned its pursuit of Yahoo Inc , a proxy fight
launched by activist investor Carl Icahn has put Microsoft in
the driver's seat.
