Boeing plane unit to cut up to 4,500 jobs
(Reuters) - Boeing Co said on Friday it plans to cut about 4,500 jobs in its commercial airplanes business unit in 2009.
Reuters - 2 hours ago
Stock Exchanges Brace For 2009
The London Stock Exchange and NYSE Euronext reveal weak trading volumes in December, heralding harsher times ahead.
Forbes - 3 hours ago
Weekend Investor: For some stock-fund managers, cash is king
While many mutual fund managers boldly charge into stocks regardless of market conditions, others have kept their powder dry by holding more in cash.
MarketWatch - 1 hour ago
Obama says grim jobs report shows need for stimulus
President-elect Barack Obama says Friday's grim jobs report shows more evidence that a huge stimulus plan is necessary to get the U.S. economy out of recession. He also answers criticism from some Democrats with a vow to listen to ideas about how to shape the package.
MarketWatch - 3 hours ago
Real Estate Weekly: Home buying will be a confidence game this year
In times like these, it takes an extra dose of confidence to buy a home. Especially when so many voices are telling you to slam on the brakes.
MarketWatch - 42 minutes ago
India's Satyam head arrested and board scrapped
HYDERABAD, India (Reuters) - Police arrested the head of Satyam Computer Services Friday on charges of cheating and forgery and the government dissolved its board in moves to limit the fallout from India's biggest corporate scandal in memory.
Reuters - 2 hours ago
CVS Caremark shares hit by 2009 outlook
CVS Caremark Corp. shares tumble 10% after the big drug-store chain issues a 2009 outlook below Wall Street's expectations and warns same-store sales growth will slow in the first quarter.
MarketWatch - 3 hours ago
Tech Stocks: Economic woes weigh down sector early
SAN FRANCISCO (MarketWatch) - Technology stocks found the going rough in early trading Friday as the sector slumped along with the broad market following the latest round of disappointing unemployment figures.
MarketWatch - 5 hours ago
CES: A movie theater in your pocket
Want to carry around your own personal movie theatre? Check out these 6 pico projectors, previewed at CES.
CNNMoney - 1 hour ago
Circuit City says in deal talks with two parties
NEW YORK (Reuters) - Circuit City Stores Inc said on Friday that it was in deal talks with two undisclosed parties that could either buy the bankrupt electronics chain or provide additional financing.
Reuters - 6 hours ago
Banco do Brasil Bolsters Portfolio With Votorantim
Brazil's financial sector continues to consolidate through takeovers.
Forbes - 42 minutes ago
Best Buy's same-store sales fall; Circuit City up for sale
Joining other retailers hurt by consumer cutbacks, Best Buy Co. says its December same-store sales fell on a drop in store traffic and lower demand for digital cameras and video-gaming products. The largest U.S. electronics chain also narrowed its full-year profit forecast.
MarketWatch - 6 hours ago
Rubin Resigns Citi Posts
Former Treasury Secretary Robert Rubin is stepping down as a senior counselor and director of Citigroup.
TheStreet - 30 minutes ago
Health Care Winners & Losers: Hansen Medical
Shares fall on disappointing fourth-quarter guidance.
TheStreet - 30 minutes ago
Asia Telcoms Eye 3G, Beyond
Japan's top mobile phone operator, NTT DoCoMo, wants to dial up more overseas business, while still seeing a tough market at home.
TheStreet - 30 minutes ago
Verizon Wireless Completes $5.9B Alltel Buyout
The purchase, which brings Verizon almost 13 million new customers, makes the company America's largest telecom.
TheStreet - 3 hours ago
CES: Dreamworks Goes 3D in Your Home
Jeffrey Katzenberg, CEO of Dreamworks, unviels the company's 3D movie trailer to air during this year's SuperBowl and discusses the future of 3D home entertainment
TheStreet - 54 minutes ago
Virgin, BA Fight For Business Class
Richard Branson's airline matches its rival with a hefty cut to premium air fares.
Forbes - 1 hour ago
A+ For Apollo
Profits for the education-services provider jump as the recession sparks a surge in enrollment.
Forbes - 2 hours ago
Volkswagen: The Odd One Out
Carmakers might be struggling but Volkswagen is still reporting an increase in sales.
Forbes - 2 hours ago
MarketWatch First Take: Palm's new smart phone steals the show at CES
LAS VEGAS (MarketWatch) - The strong buzz for the new Palm Pre smartphone could be a good sign for the struggling Sunnyvale, Calif.-based device maker -- or a bad sign for the Consumer Electronics Show here. Analysts agree the new device could put Palm back on the map, though a...
MarketWatch - 2 hours ago
Tough Diagnosis For CVS
The drugstore chain cuts its 2009 outlook, citing economic uncertainity.
Forbes - 3 hours ago
Beijing's Own 'Yellow Peril' Is Online
The government toughens latest sweep of 'yellow,' or pornographic, Web content; Baidu, Google and Sina are contrite after being chided.
Forbes - 3 hours ago
Blavatnik Bails Out Of Air Berlin
Pressured to raise cash, billionaire sells his stake in carrier to mystery buyers.
Forbes - 3 hours ago
Healthways Doing Well Overseas
The wellness program provider offsets healthplan contractions with international expansion.
Forbes - 3 hours ago
Dividend.com: American Eagle Not Flying
The company said fourth-quarter earnings will be weaker due to lower December sales.
TheStreet - 54 minutes ago
Anatomy of an Investment Strategy
Here's some background on RealMoney contributor Steve Birenberg's long-only, fully invested approach.
TheStreet - 54 minutes ago
Citi backs anti-foreclosure plan
Citigroup reached an agreement with Democratic lawmakers Thursday on legislation that would allow judges to reduce mortgage debt for individuals who have filed for bankruptcy.
CNNMoney - 3 hours ago
Exxon Mobil's cash hoard offers major growth options
With nearly $40 billion in cash in its coffers, Exxon Mobil holds enough financial firepower to pull off an industry-changing transaction, energy mavens say.
MarketWatch - 1 hour ago
Lennar shares drop after deal questioned on website
NEW YORK (Reuters) - Shares of Lennar Corp , the second-largest U.S. homebuilder, plummeted on Friday after a letter questioning a late 1990s transaction involving the company surfaced on the Internet.
Reuters - 1 hour ago
CES: Calling LG's 'Dick Tracy' Cell Phone
The LG Watch phone is large for a watch but is pretty sleek andcool-looking overall.
TheStreet - 2 hours ago
Hedge Funds: Some short sellers thrived in 2008; uptick rule may return
Hedge funds that mostly use short selling gained 34% on average last year, according to early estimates from HedgeFund.net, which tracks industry performance. That compares to losses of more than 38% by the Standard & Poor's 500 index.
MarketWatch - 2 hours ago
Austria's Medici seeks revamp after Madoff hit
VIENNA (Reuters) - Austria's Bank Medici, one of the biggest victims of Bernard Madoff's alleged $50 billion fraud, made two appointments to its board and is working on a new business model, the bank said on Friday.
Reuters - 3 hours ago
Vail shares slide on rough early-season numbers
The snow fell early and often at most of its resort properties, but couldn't keep Vail Resorts from announcing that skier visits and forward bookings are in sharp decline for the season to date.
MarketWatch - 3 hours ago
Changes urged in doling out of financial bailout funds
A key lawmaker calls on Congress to impose stricter requirements on how the government uses the second half of a huge $700 billion financial bailout fund as a separte oversight panel blasts the handling of the first half.
MarketWatch - 3 hours ago
Charges dropped against ex-Reagan official Stockman
Federal prosecutors have dropped criminal charges against former Reagan budget director David Stockman.
USA Today Money - 3 hours ago
Emerging Markets Report: Shares of Kuwaiti investment bank plunge after debt default
Shares of Kuwait's Global Investment House plunge more than 80% in London trading after the investment bank says it has defaulted on the majority of its debt.
MarketWatch - 3 hours ago
Retail convention likely to be a survival course
NEW YORK (Reuters) - Several months ago the National Retail Federation (NRF) chose "Inspiration" as a theme for its 2009 annual convention, to be held next week in New York. But now it seems "Survival" might have been a better choice.
Reuters - 3 hours ago
NewsWatch: Carnage continues with 524,000 jobs lost in December
The U.S. economy lost 524,000 jobs in December, closing out the worst year for job losses since World War II, the Labor Department says.
MarketWatch - 3 hours ago
Telecom Stocks: Qwest, Alcatel-Lucent lead retreat
WASHINGTON (MarketWatch) - Telecommunications stocks mostly declined in Friday action after the latest monthly U.S. employment report showed a loss of more than half a million jobs.
MarketWatch - 4 hours ago
Russia, Ukraine inch closer to resolving gas deal
MADRID (MarketWatch) -- The CEO of Russia's state-controlled Gazprom said Friday his company would allow international monitors to keep track of pipeline shipments of natural gas leaving Russian territory and entering Ukraine.
MarketWatch - 7 hours ago
Ford Maps '09 View at CES
Ford America's President Mark Fields gives Gary Krakow a roadmap for how sales will go this year.
TheStreet - 3 hours ago
Lennar Down on Fraud Accusations
The company is being accused of fraudulent business practices by a man convicted of fraud himself.
TheStreet - 1 hour ago
Options: A Collar Play in Prudential
The Feb 25 puts have traded over 6,000 times today vs. open interest of 400. The Feb 35 calls also have traded more than 6,000 times vs. an open interest of roughly 750.
TheStreet - 1 hour ago
Hard Times: Washington Redskins Lay Off 20
Even pro football isn't immune to the economic downturn, as the Redskins start to cut back.
TheStreet - 1 hour ago
Segway Drives Japan Fairways
Golf -crazy Japan has a new set of 21st Century wheels to make the rounds: Segway.
TheStreet - 1 hour ago
Lawmaker Calls for Return of 'Uptick' Rule
U.S. Rep. Gary Ackerman is pushing legislation to reinstate a Depression-era regulation that curbed the short selling of stocks when prices are falling, which the Securities and Exchange Commission repealed in 2007.
TheStreet - 1 hour ago
Job Cuts Hit the Rails
Union Pacific and Trinity Industries both announced cutbacks today, as the recession hits the transports.
TheStreet - 1 hour ago
Dell Needs to Cough Up a Dividend
The struggling computer maker needs to throw a bone to investors forced into wait-and-see mode following enormous payouts to two departing executives.
TheStreet - 1 hour ago
Palm Up, but Please Hold Your Applause
Investors are cheering the latest iPhone imitator, but can one best-in-show phone turn Palm's fortunes around?
TheStreet - 1 hour ago
Denver Homes Cheapest Since 2001
Median sale price dipped below $200,000 in November for the first time in seven years.
TheStreet - 2 hours ago
Freightliner Parent to Cut 2,100
Sagging demand is forcing Daimler Trucks North America to cut back at three North Carolina plants.
TheStreet - 2 hours ago
Dems Cool to Obama Tax Cuts
One major problem for President-elect Barack Obama is that his tax cut proposals are running into opposition from senators in his own party.
TheStreet - 2 hours ago
Pacific Ethanol to Temporarily Suspend Production
The ethanol producer will halt production at its Madera, Calif., facility for an unspecified time.
TheStreet - 2 hours ago
Internet Porn Police Close China Blog
As part of an expanding effort aimed at cleaning up the Internet, China's government has shut down a blog-hosting site that allegedly houses 'harmful comments' and identified several sites it says contain vulgar content, including pornography.
TheStreet - 2 hours ago
Wal-Mart's Weather Excuse Doesn't Hold Water
Wal-Mart is using bad weather as an excuse for its disappointing December sales.
TheStreet - 3 hours ago
Put Yahoo! on your TV
Yahoo! teams up with major TV brands to let you add the web to your TV.
TheStreet - 3 hours ago
Airline '09 Profit Hopes Face Obstacles
The industry is expecting a return to profitability this year, but some new government regulations lurk.
TheStreet - 3 hours ago
Illinois House Impeaches Gov. Blagojevich
In an unprecedented move, the House voted to impeach the sitting governor, who will now go to trial in the state senate.
TheStreet - 3 hours ago
How to Get a College Degree Debt-Free
A less traditional path means you'll have to consider new options, but in the end, a diploma is a diploma.
TheStreet - 4 hours ago
Bastianich Dishes on Weight, Beans, Singing
New York restaurateur Joseph Bastianich is squeezing as much as possible out of life.
TheStreet - 4 hours ago
Retail Stocks: Job report adds more worry to retail sector; Coach drops
Word that 2008 was the worst year for job losses since World War II sends retail stocks lower, with Coach shares hit especially hard after the company cuts its second-quarter outlook.
MarketWatch - 5 hours ago
Indications: U.S. stock futures slant lower before jobs report
LONDON (MarketWatch) -- U.S. stock futures perch lower with traders on edge for what could be the worst month of job losses since World War II.
MarketWatch - 10 hours ago
KB Home misses expectations
(Reuters) - KB Home on Friday reported a fourth-quarter loss of $3.96 a share.
Reuters - 7 hours ago
Daily Poll: Are You Worried About Job Security?
The U.S. economy lost more than half a million jobs in December and the unemployment rate rose to a 16-year high.
TheStreet - 6 hours ago
Oil above $42 on Saudi cuts
SINGAPORE (Reuters) - Oil rebounded above $42 on Friday on signs that Saudi Arabia would further cut supplies next month, but gains were capped by an impending resolution to the Russia-Ukraine gas spat that could allow supplies to resume.
Reuters - 11 hours ago
Outgoing Dell executives to cash in
Two top Dell Inc. executives who are leaving the computer maker as part of another major shakeup are slated to receive more than $11 million in severance pay.
MarketWatch - 6 hours ago
Panel steps up criticism of Treasury over TARP: report
(Reuters) - A report being released on Friday alleges that the U.S. Treasury has failed to reveal its strategy for stabilizing the financial system, not answered questions asked by a government watchdog, and has done nothing to help struggling homeowners, the Wall Street Journal...
Reuters - 14 hours ago
HP Says It Will Stop Distributor's Sales in Iran
The company acknowledges that a distributor may have been in violation of U.S. sanctions.
TheStreet - 6 hours ago
CEO all-star bench
It's likely at least a few high-profile CEO spots will open up in 2009. But with many former top guns already subbing in - Herb Allison at Fannie Mae and Ed Liddy at AIG - who's left? We asked top recruiters for a list of CEOs who could be called into the game.
CNNMoney - 9 hours ago
Commerzbank shares drop as bank faces long road to profit
Shares in Germany's Commerzbank dropped around 8% Friday as investors and analysts digested the implications of its latest capital raising, including a possible halt on dividends for several years.
MarketWatch - 11 hours ago
World waits on jobs data as recession weighs
WASHINGTON (Reuters) - U.S. employers probably cut the most jobs in at least 34 years last month as the global economic crisis gathered pace and moves by policy makers took time to filter through to struggling companies.
Reuters - 12 hours ago
Palm Soars 35% on Smartphone Debut
Palm's shares climb more than 30% after the company launches its latest smartphone.
TheStreet - 21 hours ago
Lehman to Spin Out Private Equity: Report
Lehman Brothers' private-equity arm reached an agreement with its parent company to spin out into an independent firm, a report says.
TheStreet - 10 hours ago
UBS closing U.S. clients' offshore accounts
ZURICH (Reuters) - Swiss wealth manager UBS AG is closing all the offshore accounts of its U.S. clients, the bank said on Friday, as it comes under pressure from U.S. tax authorities.
Reuters - 10 hours ago
Unhappy with your Roth? Just say never mind
Ever made a financial decision you wish you hadn't, like buying a mutual fund that turned out to be a dog? Wouldn't it be neat if you could simply act as if it had never happened? Well, you have that choice when you convert a 401(k) or traditional IRA to a Roth IRA. That's right:...
CNNMoney - 11 hours ago
Icahn says bankruptcy reform could help banks
(Reuters) - Activist investor Carl Icahn called for changes in federal bankruptcy laws which he argues are thwarting the private investment which is more appropriate than public funds for reviving the banking system.
Reuters - 12 hours ago
Chevron sees major drop in 4th-quarter earnings
SAN FRANCISCO (Reuters) - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower oil and gas prices on its upstream business.
Reuters - 22 hours ago
Wal-Mart Rolls Back Earnings Outlook
Retailer not looking as recession-proof as thought following disappointing December same-store sales.
Forbes - 16 hours ago
Economic Outlook: Quarterly job losses expected to be worst since WWII
U.S. businesses cut jobs at a rapid pace again in December, analysts say, worsening a trend that could produce the largest quarterly job loss since America demobilized its war economy after beating Hitler.
MarketWatch - 21 hours ago
Personal Adviser: Financial adviser embraces ETFs, leaves mutual funds behind
Exchange traded funds -- essentially mutual funds that trade on exchanges like stocks -- have taken the investment profession by storm. Our firm recently took the plunge and moved a substantial portion of clients' assets into ETFs to take advantage of their many benefits over...
MarketWatch - 17 hours ago
BMW sensors calculate chances of injury in a crash
Automaker BMW will announce this weekend a new direction in car safety protection with a system that calculates for emergency ...
USA Today Money - 18 hours ago
Asia stocks slip ahead of U.S. jobs
HONG KONG (Reuters) - Asian stocks slipped and the U.S. dollar drifted higher on Friday, as investors braced for the December U.S. payrolls data, expected to show sharp job losses and deal another blow to hopes for a speedy recovery this year.
Reuters - 17 hours ago
Lehman to spin out private equity arm -- WSJ
The private-equity arm of failed Wall Street brokerage Lehman Brothers has reached a deal to be spun out as an independent entity, according to a media report Thursday.
MarketWatch - 19 hours ago
NewsWatch: Billionaire investor Burkle bets on Whole Foods
The investment fund run by Ron Burkle, who made a fortune investing in supermarkets, hopes to find another payoff in Whole Foods Market, the high-priced organic grocery chain that has fallen on hard times.
MarketWatch - 22 hours ago
EU Says Gas Supplies Should Restart
The EU president says a deal struck with the Russians should start the flow of gas to Europe again.
TheStreet - 23 hours ago
Coach shares fall after company reduces forecast
Joining a chorus of other retailers, luxury leather-goods seller Coach Inc. shares fall 8.6% in pre-market trading after the company says late Thursday second-quarter profit would fall short of its previous guidance after a disappointing holiday season.
MarketWatch - 5 hours ago
Recession to deepen in first half: Boston Fed chief
The U.S. economic recession is set to deepen in the first half of the year, but could begin to show signs of improvement later in the year, Boston Federal Reserve Bank President Eric Rosengren said in a speech late Thursday.
MarketWatch - 11 hours ago
Earnings Watch: Updates, advisories and surprises
A roundup of the latest corporate earnings reports and what companies are saying about future quarters.
MarketWatch - 12 hours ago
Jon Friedman's Media Web: Madoff the movie -- who should play the Satan of Wall Street?
Who should play the disgraced financier Bernard Madoff if Hollywood ever got around to making a movie about his spectacular fall from grace? There are a number of possibilities.
MarketWatch - 15 hours ago
How to find a Roth IRA that won't let you down
Thanks to the lousy stock market, your parents are probably making a few changes in their retirement plans. They're thinking ...
USA Today Money - 19 hours ago
Wolverine To Slash Jobs
Restructuring footwear maker says it will cut 450 positions, acquire Cushe shoes.
Forbes - 19 hours ago
GM Sales Accelerated in China, India
GM finds something to crow about, while Ford increases market share in the U.K.
TheStreet - 22 hours ago
GM CEO "confident" of winning UAW concessions
DETROIT (Reuters) - General Motors Corp Chief Executive Rick Wagoner said on Thursday he was confident the automaker will win the concessions it needs from the United Auto Workers union to meet the restructuring terms dictated by the $13.4 billion federal bailout.
Reuters - 20 hours ago
Fed's Rosengren says recession more severe than thought
NEW YORK (Reuters) - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday.
Reuters - 20 hours ago
Airline Stocks: Weak economy hits carriers, eroding demand
Airline stocks swoop into the red in early trading following more weak economic data.
MarketWatch - 5 hours ago
Bailout Deal for Automakers Prohibits Strikes
General Motors and Chrysler would be in default of their multi-billion dollar federal bailouts if their workers go on strike and could be forced into bankruptcy, according to newspaper reports.
TheStreet - 13 hours ago
