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Dell results miss expectations, shares drop
Published Friday, Nov. 20, 2009
Dell Inc's quarterly profit plunged 54 percent on lower-than-expected revenue as its sales to large businesses suffered, driving its shares down 6 percent.
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Two Fed "hawks" see no immediate inflation threat
Published Friday, Nov. 20, 2009
U.S. Federal Reserve officials on Thursday said inflation is not an imminent threat and downplayed the consequences of the falling U.S. dollar.
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Geithner, under fire, defends AIG bailout
Published Friday, Nov. 20, 2009
U.S. Treasury Secretary Timothy Geithner defended on Thursday the costly bailout of insurer AIG and urged swift regulatory reform to safeguard the economy from the failure of big financial firms.
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Gap profit up, posts highest margins in decade
Published Friday, Nov. 20, 2009
Gap Inc posted a 25 percent rise in quarterly profit as sales rebounded at its Old Navy chain and the company recorded its highest margins in a decade.
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AOL to cut one-third of workforce
Published Friday, Nov. 20, 2009
AOL plans to cut one-third of its workforce, or about 2,500 jobs, in an effort to trim some $300 million in annual costs as part of the Internet company's planned spin-off from Time Warner Inc.
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Downturn cost U.S. metro areas all recent job growth
Published Thursday, Nov. 19, 2009
The U.S. recession that began in December 2007 cost the top metropolitan areas all of the 2.29 million jobs they had gained in the previous expansion, according to a report released on Wednesday.
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Housing starts fall sharply, inflation edges up
Published Thursday, Nov. 19, 2009
Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
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U.S. wants to fast-track GM IPO
Published Thursday, Nov. 19, 2009
The Obama administration wants a fast-track initial public offering of General Motors Co shares to reduce its majority stake in the automaker, a senior official said.
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Wells Fargo to repay $1.3 billion in auction-rate pact
Published Thursday, Nov. 19, 2009
Wells Fargo Investments LLC will repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in the latest of a series of settlements with state securities regulators, an industry association said on Wednesday.
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Walmart.com touts pricing clout for holidays
Published Thursday, Nov. 19, 2009
Walmart.com will pull no punches in its quest to win market share this holiday season, introducing 97-cent shipping on electronics and offering daily discounts the week after Thanksgiving, its chief executive said on Wednesday.
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BlackBerry CEOs stick to strategy, dismiss analysts
Published Wednesday, Nov. 18, 2009
Research In Motion's top executives say the BlackBerry will hold its ground in a fierce battle with Apple's iPhone and other rivals, even as a boom in smartphone sales shakes up a market segment that their company once ruled.
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BofA knew of Merrill pain in November: House panel
Published Wednesday, Nov. 18, 2009
A congressional panel accused Bank of America Corp on Tuesday of knowing about Merrill Lynch & Co's huge losses as early as November 2008, suggesting the bank lied to investors in saying it did not grasp the depth of the problems until the following month.
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Hershey, Ferrero in early talks on Cadbury: source
Published Wednesday, Nov. 18, 2009
U.S. chocolate company Hershey Co held "very preliminary" talks with Italian chocolate maker Ferrero SpA about a potential joint bid for Cadbury Plc, a source familiar with the talks said on Tuesday.
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Ex-Merrill CEO favors "too big to fail" fund
Published Wednesday, Nov. 18, 2009
Breaking up the biggest U.S. banks is not a practical solution to addressing the "too big to fail" problem, former Merrill Lynch Chief Executive John Thain said on Tuesday.
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Walmart touts new price cuts ahead of Black Friday
Published Wednesday, Nov. 18, 2009
Wal-Mart Stores Inc said it will offer steep discounts on toys and electronics in its U.S. stores this Saturday, one week before "Black Friday" kicks off the traditional holiday shopping rush.
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