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Barack Obama expressed disappointment with the Bush administration's handling of the first $350bn tranche of the financial sector bail out and pledged greater support for struggling homeowners once he takes charge of it |
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Citigroup is to reap a much-needed capital gain of up to $6bn, as well as a cash payment of $2.7bn if it clinches a deal to spin off its brokerage unit into a joint venture controlled by Morgan Stanley |
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A US investigation into potential violations of sanctions against Iran has expanded to involve nine European banks |
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The US broadcaster launches a revamped TV.com site with added content from several media partners in its battle for supremacy with YouTube and Hulu |
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The Russian president took another apparent swipe at Mr Putin, the prime minister, criticising his government for moving too slowly on the country's economic crisis |
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Roughly half the estimated losses from Bernard Madoff's alleged $50bn "Ponzi" are being borne by non-US investors, underscoring the global scope of the carnage |
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The possibility that Citigroup might surrender a majority stake in Smith Barney to Morgan Stanley threatens Merrill's dominance in the field |
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Cairo is arguing for a border monitoring, system, which could include Turkish troops, to end weapons smuggling into Gaza, in an effort to stop the Israeli offensive |
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Germany has agreed to take stakes in any large industrial companies facing insolvency because of credit shortages, according to leaders of Angela Merkel's party |
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Dearth of interest from institutional shareholders in the two banks' secondary placings leaves the Treasury to take up 99% of the unsuscribed new shares |
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Geoff Grant, co-founder of the failed Peloton Partners hedge fund, has launched another fund in the latest example of how quickly investors can forgive managers |
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Severity of the downturn and complex way corporate debts were structured leaves investors with the prospect of much steeper losses |
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Harbinger Capital, the activist US hedge fund that shot to fame in 2007 with a lucrative bet against subprime mortgages, has joined the list of funds restricting withdrawals for investors |
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The Indian government has appointed a new board to run Satyam while police have widened their investigation to include other Raju family-controlled companies. Satyam shares were up 54 per cent at Rs36.55 after trading as much as 68 per cent higher |
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Qualcomm plans to challenge for dominance in the fast-growing market for mini laptops and expects many companies to use its chips in devices |
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World's second largest car market had its worst year in a decade in 2008, with annual passenger car sales rising only 7.3%, according to the China Association of Automobile Manufacturers |
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Oil prices fell below the $39 a barrel level and base metals staged a broad retreat as commodity markets got off to a weak start to trading on Monday |
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Ukraine has signed a fresh copy of a gas transit monitoring agreement and removed earlier conditions, Gazprom, Russia's state-owned gas giant, said in a statement |
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US stocks could struggle to bounce back from last week's losses as investors remained cautious ahead of results from Alcoa, the first blue chip company to unveil fourth-quarter earnings |
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Abbott Laboratories, the US drug company, said it would buy Advanced Medical Optics, a maker of contact lens solutions, in a $2.8bn deal that will give it fresh footing in the eye care industry |
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Bernard Madoff will remain free on bail, a federal magistrate judge ruled, as he denied prosecutors' request to jail him after he mailed more than $1m of jewelry to family and friends |
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George W. Bush bows out as US president in a final press conference. Regrets? There are a few. |
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The US government has reiterated advice that travellers to the US risk being turned back at airports unless they have complied with new permit regulations |
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George W. Bush agreed to ask Congress to release the remaining $350bn of a US financial rescue package, meeting a request from Barack Obama as the president-elect's team sought to quell opposition to the plan |
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Russian gas could begin flowing again to Europe as early as Tuesday morning, officials predicted, after Russia and Ukraine moved to contain their dispute |
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When a power goes to war against a weaker enemy, it can lose the public relations battle, says Roula Khalaf
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The growing dangers for Europe's sharply slowing economies were highlighted as Spain became the third eurozone country to be warned over its finances in three days |
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Researchers have found a strong statistical link between the profitability of male traders at a London bank and the ratio of index to ring fingers on their right hand |
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Sliding raw material and capital project costs provide breather for companies hit by dropping commodity price |
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European rules on investment funds need an overhaul in the wake of the $50bn alleged fraud by Bernard Madoff to restore investor confidence, the French finance minister urged |
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Citigroup's deal to cede control of its brokerage unit to Morgan Stanley is set to result in a tax payment of about $5bn to the US government, the financial group's largest shareholder, in a sign of the political high stakes behind the transaction |
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Aluminium maker reports a loss of $1.19bn in fourth quarter as it is hit by the tumbling price of aluminium, which has fallen by 35 per cent in the last three months |
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Roland Burris won his bid to fill the seat in the US Senate vacated by President-elect Barack Obama, overcoming objections from Democratic leaders who now stand ready to enjoy their biggest majority since 1981 |
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Shares in Sony fell by 8 per cent in Tokyo trading following local media reports that it will make a Y100bn operating loss in the year to March 2009 |
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Israel is extending its 18-day campaign into built-up areas of Gaza City after sending thousands of reserve soldiers into the Hamas-controlled territory and signalling a further escalation of its offensive against the Islamist group
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The government-controlled bank is hoping to raise as much as $2.6bn from the sale its 4.3 per cent stake in Bank of China after the market closes in Hong Kong |
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Oil prices continued to retreat, dropping below the $37 a barrel level, while base metals fell and gold eased as more weak economic data pointed to a deepening global economic downturn |
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The risk of serious fiscal crises in developed countries has 'doubled if not tripled', threatening countries such as the US, UK, France, Italy, Spain and Australia, the World Economic Forum said |
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Mounting fears of more heavy losses in the financial sector and a downbeat start to fourth quarter earnings season with results from Alcoa were set to drag US stocks into their third consecutive sell-off. |
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Ben Bernanke, the US Federal Reserve chairman, said that more capital injections and guarantees to financial institutions could be needed to ensure economic stability and to rehabilitate the credit markets |
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Germany will amend its constitution to ban excessive public borrowing and set up a strict repayment schedule for the public deficit caused by its latest fiscal stimuli, chancellor Angela Merkel said |
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The US trade gap shrunk by 29 per cent to $40.4bn in November, the commerce department said, as plunging oil prices led the sharpest deficit contraction in 12 years |
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Hillary Clinton has set out her plans to adopt hard-headed multilateralist diplomacy, in which the US will work closely with Russia and China while seeking to strengthen existing alliances and international institutions |
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Citigroup is to break up its 10-year old "universal banking" business model by separating large parts of its troubled investment bank and US consumer finance businesses from its global commercial banking business in a dramatic attempt to ensure its survival |
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A top Democrat warned banks that they must re-lend any fresh funds received from the federal government, as Congress prepared to consider a request for the remaining $350bn of bail out money. |
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Investment banking and money management likely to suffer as the UK bank cuts cost to cope with fallout from the credit crisis |
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The bitter dispute between Russia and Ukraine descended into near-chaos as pledges to restart supplies fully were broken and Moscow suggested that the US had meddled in the affair |
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The market pushed shares in the internet group down 2 per cent on reports that Carol Bartz will soon be filling the chief executive's chair. Yahoo would be making a safe but uninspired choice |
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When Barack Obama takes the US presidential oath on January 20, he will draw vast audiences normally associated with American football's biggest event, the Super Bowl. Viewers should prepare for a commercial onslaught |
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Yahoo has chosen software veteran Carol Bartz as its new chief executive, an appointment viewed by Wall Street as safe but unspectacular. |
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Beijing is pushing its state media to create credible, appealing news for an international audience, in an attempt to spread a more favourable image of the country |
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GoldenTree Asset Management, a credit hedge fund, is offering investors who want to withdraw money securities instead of cash, triggering protests from those who in many cases lack means to dispose of such instruments |
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Harassment by peers poses a greater danger than sexual predators, suggesting that technologies developed to shield minors from harm may be ineffective, says a study |
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Germany's largest bank has revealed its first annual loss in five decades after a fourth quarter in which it lost €4.8bn |
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Three rockets have been fired into northern Israel from Lebanon , the second such attack since the Jewish state launched its offensive against Gaza amid fears that a second front could open up as Israeli troops push deeper into the Palestinian strip |
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The chairman of Rio Tinto is preparing to announce his retirement from the board of the mining group to succeed Peter Sutherland, chairman of BP |
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Wall Street stocks were set for a lower start as investors digested gloomy retail sales figures and Nortel's decision to file for bankruptcy, while concerns over the health of financial institutions persisted. |
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US retail sales plunged by 2.7 per cent in December, as American consumers have pulled back sharply on spending in spite of deep discounts through the heart of the holiday shopping season |
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The Canadian telecommunications equipment maker has filed for bankruptcy protection a day before $107m in interest payment was due |
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China has overtaken Germany to become the world's third largest economy in 2007 after the Chinese authorities revised upwards the figures for growth during that year |
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Tiffany, the US jeweller, cut its earnings forecast at said it would seek to cut costs as it reported a dramatic slump in sales in November and December |
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Chrysler said that it might sell tooling for car models it no longer produces, but denied any plans to sell plants or any of its three brands, which also include Jeep and Dodge |
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Jamie Dimon, JPMorgan Chase's chief executive, predicted the US economy and financial sector would worsen in 2009 as hard-hit consumers default on credit cards and other loans and unemployment continues to rise |
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The US tortured one of the alleged 9/11 planners held at Guantánamo Bay, according to new claims by a top Pentagon official that come days before President-elect Barack Obama is expected to direct the closure of the controversial detention facilit |
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When Barack Obama starts to redeem campaign promises to ban torture, close Guantánamo Bay and put the US's "war on terror" on a sounder legal footing, it will be Eric Holder, his nominee for attorney-general, who will shoulder most of the burden |
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More New Yorkers prefer state Attorney General Andrew Cuomo over Caroline Kennedy to fill Hillary Clinton's U.S. Senate seat, according to a poll released on Wednesday. |
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Investors pulled close to a net $150bn from hedge funds last month in spite of moves by dozens of funds to halt or suspend redemptions |
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Steve Jobs said he was stepping down as Apple chief executive for six months after learning his health problems were more complex than he originally thought |
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A second federal judge ruled that Bernard Madoff can stay out of jail as he awaits trial, rejecting prosecutors' latest bid to revoke his bail |
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The securities industry's regulator investigated 19 complaints about trading by Bernard Madoff's broker-dealer operation since 1999, but could not ask questions about the investment advisory business at the centre of his alleged $50bn fraud because it is not legally authorised to do so |
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Citigroup's Corporate Special Opportunities hedge fund is returning only 3 cents on the dollar to investors, underscoring the depths of the difficulties at the alternative investment unit once headed by the bank's current chief executive, Vikram Pandit. |
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Republicans moved to delay the confirmation of Tim Geithner as Treasury secretary after revelations that he failed to pay more than $34,000 in taxes on time |
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Middle managers at Toyota Motor have a new plan to revive sales and morale at the flagging car company: between now and March, 2,200 will be exhorted to buy a new vehicle |
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The US banking sector is being shaken by deepening concerns over Citigroup's financial health and the revelation that Bank of America is counting on a new multibillion-dollar capital injection from the government |
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As Egypt stepped up peace efforts, Europe halted plans to upgrade ties with Israel, in an international backlash against the Gaza assault that has left more than 1,000 Palestinians dead |
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Ramesh Chakrapani, then a vice-president, is alleged to have helped his parents and friends make $3.6m on information he was privy to while working in the group's London office |
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Net new orders fell 42% from record levels in 2007, but the European group re-established its clear lead in the global commercial aircraft industry, beating Boeing in terms of both orders and deliveries |
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President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
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The Obama administration comes under immediate pressure to rescue the battered financial sector as banking stocks plunge across the Atlantic amid deepening fears over banks' capital needs |
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Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
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The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
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Warner Brothers Entertainment, the Hollywood studio behind The Dark Knight, the biggest grossing movie of 2008, is to shed 10 per cent of all employees as the recession starts to bite in Hollywood |
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The technology group registered an unexpectedly strong bounce in fourth-quarter earnings from relative strength in the US and continued higher growth in some emerging markets |
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United Nations secretary-general Ban Ki-moon said he was promoting the idea of a third party – perhaps the European Union or Turkey – to police the border crossing |
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Google's efforts to export its advertising success to the newspaper industry have ended in failure with the closure of its Google Print Ads service |
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Carmakers confirms signing of a 'non-binding term sheet to establish a global strategic alliance' that would see Turin-based Fiat acquire the stake in Chrysler in exchange for production and distribution assets. |
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Investors marked the inauguration of Barack Obama by selling equities and government bonds, while gold and the dollar rallied |
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Beijing greeted the inauguration of Barack Obama as US president with an appeal for better bilateral military relations, signalling its hopes of fully restoring military dialogue partly suspended last year over US arms sales to Taiwan |
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The Japanese carmaker formally named Akio Toyoda, the 52-year-old grandson of its founder, as its next president and chief executive, replacing Katsuaki Watanabe at a time of severe crisis for the global car industry |
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Any attempt by Barack Obama to get European Union members of Nato to send more troops to Afghanistan will be strongly rebuffed by EU voters, according to a new opinion poll for the Financial Times |
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Carlos Slim Helu, the second richest man in the world, threw a $250m lifeline to the New York Times but extracted a steep interest rate for easing the group's impending financing pressures |
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Bank of America is expected to make several thousand employees in its capital markets businesses redundant, starting this week, according to executives familiar with the matter |
|
|
|
President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
|
|
|
The Obama administration comes under immediate pressure to rescue the battered financial sector as banking stocks plunge across the Atlantic amid deepening fears over banks' capital needs |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Warner Brothers Entertainment, the Hollywood studio behind The Dark Knight, the biggest grossing movie of 2008, is to shed 10 per cent of all employees as the recession starts to bite in Hollywood |
|
|
|
The technology group registered an unexpectedly strong bounce in fourth-quarter earnings from relative strength in the US and continued higher growth in some emerging markets |
|
|
|
United Nations secretary-general Ban Ki-moon said he was promoting the idea of a third party – perhaps the European Union or Turkey – to police the border crossing |
|
|
|
Google's efforts to export its advertising success to the newspaper industry have ended in failure with the closure of its Google Print Ads service |
|
|
|
Carmakers confirms signing of a 'non-binding term sheet to establish a global strategic alliance' that would see Turin-based Fiat acquire the stake in Chrysler in exchange for production and distribution assets. |
|
|
|
Investors marked the inauguration of Barack Obama by selling equities and government bonds, while gold and the dollar rallied |
|
|
|
Beijing greeted the inauguration of Barack Obama as US president with an appeal for better bilateral military relations, signalling its hopes of fully restoring military dialogue partly suspended last year over US arms sales to Taiwan |
|
|
|
The Japanese carmaker formally named Akio Toyoda, the 52-year-old grandson of its founder, as its next president and chief executive, replacing Katsuaki Watanabe at a time of severe crisis for the global car industry |
|
|
|
Any attempt by Barack Obama to get European Union members of Nato to send more troops to Afghanistan will be strongly rebuffed by EU voters, according to a new opinion poll for the Financial Times |
|
|
|
Carlos Slim Helu, who has ridden to the rescue of the New York Times with a $250m loan this week, professed to know little about the closest thing America has to a newspaper of record just six months ago |
|
|
|
Bank of America is expected to make several thousand employees in its capital markets businesses redundant, starting this week, according to executives familiar with the matter |
|
|
|
President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
|
|
|
The Obama administration comes under immediate pressure to rescue the battered financial sector as banking stocks plunge across the Atlantic amid deepening fears over banks' capital needs |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Warner Brothers Entertainment, the Hollywood studio behind The Dark Knight, the biggest grossing movie of 2008, is to shed 10 per cent of all employees as the recession starts to bite in Hollywood |
|
|
|
The technology group registered an unexpectedly strong bounce in fourth-quarter earnings from relative strength in the US and continued higher growth in some emerging markets |
|
|
|
United Nations secretary-general Ban Ki-moon said he was promoting the idea of a third party – perhaps the European Union or Turkey – to police the border crossing |
|
|
|
Google's efforts to export its advertising success to the newspaper industry have ended in failure with the closure of its Google Print Ads service |
|
|
|
Carmakers confirms signing of a 'non-binding term sheet to establish a global strategic alliance' that would see Turin-based Fiat acquire the stake in Chrysler in exchange for production and distribution assets. |
|
|
|
Investors marked the inauguration of Barack Obama by selling equities and government bonds, while gold and the dollar rallied |
|
|
|
Beijing greeted the inauguration of Barack Obama as US president with an appeal for better bilateral military relations, signalling its hopes of fully restoring military dialogue partly suspended last year over US arms sales to Taiwan |
|
|
|
The Japanese carmaker formally named Akio Toyoda, the 52-year-old grandson of its founder, as its next president and chief executive, replacing Katsuaki Watanabe at a time of severe crisis for the global car industry |
|
|
|
Any attempt by Barack Obama to get European Union members of Nato to send more troops to Afghanistan will be strongly rebuffed by EU voters, according to a new opinion poll for the Financial Times |
|
|
|
Carlos Slim Helu, who has ridden to the rescue of the New York Times with a $250m loan this week, professed to know little about the closest thing America has to a newspaper of record just six months ago |
|
|
|
Bank of America is expected to make several thousand employees in its capital markets businesses redundant, starting this week, according to executives familiar with the matter |
|
|
|
President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
|
|
|
The Obama administration comes under immediate pressure to rescue the battered financial sector as banking stocks plunge across the Atlantic amid deepening fears over banks' capital needs |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Warner Brothers Entertainment, the Hollywood studio behind The Dark Knight, the biggest grossing movie of 2008, is to shed 10 per cent of all employees as the recession starts to bite in Hollywood |
|
|
|
The technology group registered an unexpectedly strong bounce in fourth-quarter earnings from relative strength in the US and continued higher growth in some emerging markets |
|
|
|
United Nations secretary-general Ban Ki-moon said he was promoting the idea of a third party – perhaps the European Union or Turkey – to police the border crossing |
|
|
|
Google's efforts to export its advertising success to the newspaper industry have ended in failure with the closure of its Google Print Ads service |
|
|
|
Carmakers confirms signing of a 'non-binding term sheet to establish a global strategic alliance' that would see Turin-based Fiat acquire the stake in Chrysler in exchange for production and distribution assets. |
|
|
|
Investors marked the inauguration of Barack Obama by selling equities and government bonds, while gold and the dollar rallied |
|
|
|
Beijing greeted the inauguration of Barack Obama as US president with an appeal for better bilateral military relations, signalling its hopes of fully restoring military dialogue partly suspended last year over US arms sales to Taiwan |
|
|
|
The Japanese carmaker formally named Akio Toyoda, the 52-year-old grandson of its founder, as its next president and chief executive, replacing Katsuaki Watanabe at a time of severe crisis for the global car industry |
|
|
|
Any attempt by Barack Obama to get European Union members of Nato to send more troops to Afghanistan will be strongly rebuffed by EU voters, according to a new opinion poll for the Financial Times |
|
|
|
Carlos Slim Helu, who has ridden to the rescue of the New York Times with a $250m loan this week, professed to know little about the closest thing America has to a newspaper of record just six months ago |
|
|
|
Bank of America is expected to make several thousand employees in its capital markets businesses redundant, starting this week, according to executives familiar with the matter |
|
|
|
President Barack Obama signalled a decisive break with the Bush years, vowing a "new era of responsibility" in which he would rebuild the economy and restore America's standing in the world |
|
|
|
The Obama administration comes under immediate pressure to rescue the battered financial sector as banking stocks plunge across the Atlantic amid deepening fears over banks' capital needs |
|
|
|
Sir Howard Stringer, chief executive of Sony electronics group, is facing resistance over plans to restructure the company and cut 16,000 jobs |
|
|
|
The world's biggest mining group,underlined the pain being felt by the industry when it said its would axe 6,000 employees and close a nickel mine in Western Australia |
|
|
|
Warner Brothers Entertainment, the Hollywood studio behind The Dark Knight, the biggest grossing movie of 2008, is to shed 10 per cent of all employees as the recession starts to bite in Hollywood |
|
|
|
The technology group registered an unexpectedly strong bounce in fourth-quarter earnings from relative strength in the US and continued higher growth in some emerging markets |
|
|
|
United Nations secretary-general Ban Ki-moon said he was promoting the idea of a third party – perhaps the European Union or Turkey – to police the border crossing |
|
|
|
Google's efforts to export its advertising success to the newspaper industry have ended in failure with the closure of its Google Print Ads service |
|
|
|
Carmakers confirms signing of a 'non-binding term sheet to establish a global strategic alliance' that would see Turin-based Fiat acquire the stake in Chrysler in exchange for production and distribution assets. |
|
|
|
Investors marked the inauguration of Barack Obama by selling equities and government bonds, while gold and the dollar rallied |
|
|
|
Beijing greeted the inauguration of Barack Obama as US president with an appeal for better bilateral military relations, signalling its hopes of fully restoring military dialogue partly suspended last year over US arms sales to Taiwan |
|
|
|
The Japanese carmaker formally named Akio Toyoda, the 52-year-old grandson of its founder, as its next president and chief executive, replacing Katsuaki Watanabe at a time of severe crisis for the global car industry |
|
|
|
Any attempt by Barack Obama to get European Union members of Nato to send more troops to Afghanistan will be strongly rebuffed by EU voters, according to a new opinion poll for the Financial Times |
