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Breakingviews.com: Vikram Pandit Scores a Great Deal for Citigroup
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The banking giant’s chief isn’t known for making good deals, but this one’s a killer.
Tue Dec 02, 2008
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Write-Downs Hurt Sears and Staples in 3rd Quarter
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The Sears Holdings Corporation withdrew its operating profit outlook because of the severe economic downturn.
Tue Dec 02, 2008
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I.R.S. Debates Way to Deal With Foreign Tax Shelters
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With the possibility of crushing penalties, holders of foreign shelters are urged to contact the I.R.S.
Tue Dec 02, 2008
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Yahoo’s Stock Jumps on Report of Buyout Interest
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Investors bid up shares after reports that Jonathan Miller, AOL’s former chief executive, is attempting a private buyout of Yahoo.
Tue Dec 02, 2008
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G.E. Warns of Low Fourth-Quarter Profit
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The company said it expected its fourth-quarter profit to be at the low end of its previous guidance and warned that charges were likely to top $1 billion after taxes.
Tue Dec 02, 2008
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Square Feet: Manhattan Awash in Open Office Space
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Changes roiling the financial industry have contributed to a doubling of the listings of large office blocks.
Tue Dec 02, 2008
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Houghton Mifflin Publisher Resigns
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Becky Saletan, publisher of the adult trade division, will leave next week in a sign of further unraveling at the publisher.
Tue Dec 02, 2008
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Icahn Sues Real Estate Company Over Debt
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The onetime corporate raider is taking a fellow billionaire to court over a leveraged buyout gone bad.
Tue Dec 02, 2008
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Delta Plans More Capacity Cuts as Travel Slows
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The reductions would come in both domestic and overseas flights as global recession erodes travel budgets.
Tue Dec 02, 2008
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British Airways in Merger Talks With Qantas
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The addition of Qantas would add a significant Asia-Pacific element to a joint business agreement including British Airways, American Airlines and Iberia.
Tue Dec 02, 2008
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European Regulators Again Revise Bank Subsidy Rules
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The European Commission is concerned that financial infusions might be improper subsidies.
Tue Dec 02, 2008
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Recession Began Last December, Economists Say
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The U.S. economy officially sank into a recession last December, which means that the downturn is already longer than the average for all recessions since World War II.
Tue Dec 02, 2008
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Advertising: Hot Food, and Air, at Bus Stops
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Heated air will warm 10 Chicago bus shelters, courtesy of the Stove Top brand of stuffing. Such marketing is meant to entice consumers to experience products tangibly.
Tue Dec 02, 2008
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Big Three May Need to Trim Number of Car Brands
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For automakers to win over lawmakers in their bid for aid, they will have to prove that they are serious about shrinking their vast lineups of different models.
Tue Dec 02, 2008
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Cheer Fades as Stocks Plunge 9%
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The announcement that the recession began in December 2007 came on a day when the Dow dropped more than 7 percent.
Tue Dec 02, 2008
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Deutsche Rejects a Rescue, Even as Its Shares Tumble
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Deutsche Bank fancies itself an exception to the view that giant banks need rescuing. But the markets will have the final word, and so far they are not buying the story.
Tue Dec 02, 2008
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Fund Investors Sue Countrywide Over Loan Modifications
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A hedge fund sued the Countrywide Financial Corporation, demanding that it compensate holders of some securities backed by mortgages if the terms were changed.
Tue Dec 02, 2008
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Bailout Monitor Sees Lack of a Coherent Plan
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The head of a new Congressional panel set up to monitor the federal bailout says the government still does not seem to have a coherent strategy for easing the crisis.
Tue Dec 02, 2008
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Toyota Trims Management Pay
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Toyota Motor said it would cut management bonuses by 10 percent as the global economic slowdown deepens.
Tue Dec 02, 2008
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J.&J. to Buy Manufacturer of Cosmetic Surgery Gear
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Johnson & Johnson said it would buy Mentor, a maker of cosmetic products and breast implants, for $1.07 billion.
Tue Dec 02, 2008
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Building and Factory Data Reflect Economic Turmoil
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In October, construction spending declined 1.2 percent, much more than analysts had expected, and a measure of manufacturing activity fell to a 26-year low.
Tue Dec 02, 2008
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Asian Banks Lower Rates, but Stocks Still Drop
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Australia and Japan increased efforts to shield their economies from the global economic slowdown, but Asian stock markets still responded with drops.
Mon Dec 01, 2008
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Itineraries: The Dislocated Americans
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When an overseas posting fails, the problem is often not the worker, but the spouse and children.
Mon Dec 01, 2008
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U.S. Is Said to Expand Tax Inquiry
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The Justice Department has expanded its investigation into foreign banks that sell offshore banking services to include Credit Suisse and HSBC, according to people briefed on the matter.
Mon Dec 01, 2008
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In Deal With Hitachi, Intel Will Expand Its Flash Memory Business
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Intel will announce a deal to become the sole supplier of flash memory for a coming Hitachi line of computer drives.
Mon Dec 01, 2008
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