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MSNBC
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Merrill Lynch & Co., the world’s largest brokerage, on Thursday announced plans to cut 4,000 jobs after more than $6 billion fresh write-downs pushed it to a loss for the first quarter.
These write-downs caused Merrill Lynch to lose $2.14 billion, or..
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CNN
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Luxury car maker BMW says it will cut another 5,600 jobs by the end of 2008, on top of 2,500 other positions that have already been eliminated, as it moves to spare expenses amid a wider cost-cutting program. BMW's head of personnel Ernst Baumann says the..
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CNN
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The Bank of England cut interest rates by a quarter of a percentage point to 5.25 percent on Thursday, its second cut in three months as it attempts to shore up confidence in Britain's slowing economy. "The prospects for output growth abroad have deterior..
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SF Gate
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Stocks headed for a largely unchanged opening Wednesday, with investors unlikely to make bold moves ahead of a widely expected interest rate reduction by the Federal Reserve.
The market has been banking on a new rate cut to be announced Wednesday after..
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BusinessWeek
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The Fed's emergency rate cut eased the panic in EU markets, but problems such as inflation, tight credit, and a strong euro remain
European financial markets breathed a sigh of relief on Jan. 22 as share prices rebounded after the U.S. Federal Reserve..
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MSNBC
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Novartis AG will cut 2,500 jobs worldwide by 2010 in an attempt to save $1.6 billion, the drug maker said Thursday.
The company said it would take a restructuring charge of about $450 million (306 million euros) in the fourth quarter of 2007.
Novart..
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BusinessWeek
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News from Washington Mutual, H&R Block and IndyMac show the troubles keep piling up
Sometimes bad news comes in threes.
While the Federal Reserve cut interest rates Dec. 11 to ease the financial and housing crises, the market was confronted with yet..
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MSNBC
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Citigroup Inc., bracing for big credit-related losses in the fourth quarter, is looking to cut costs with another round of job cuts, according to CNBC.
CNBC reported Monday that "massive" layoffs were planned. Though exact numbers had not yet been set,..
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CNN
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The Federal Reserve lowered the target for a critical short-term interest rate by a quarter of a point Wednesday, citing continued concerns about weakness in the housing market.
But the Fed indicated that it is also worried about inflation, a sign that..
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BBC News
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US interest rates have changed for the first time since mid-2006, reduced from 5.25% to 4.75%, an unforeseen 0.5% cut which shot shares to four year highs.
Analysts had expected the Federal Reserve to cut rates 0.25% to prevent a housing market downtur..
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CNN
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Problems in housing, the financial markets and the first job decline in four years have made a Federal Reserve rate cut next week all but certain. But it has also raised talk about a recession - and whether the Fed is able to prevent one.
While most ec..
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Guardian Unlimited
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Iran's financial system suffered a fresh jolt yesterday with panic selling on the stock market after the president, Mahmoud Ahmadinejad, abruptly ordered banks to cut interest rates sharply, despite surging inflation.
The order, which Mr Ahmadinejad is..
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Reuters
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DaimlerChrysler said on Wednesday it would cut 13,000 jobs at its Chrysler operations in North America, and raised the prospect that it could even part ways with the loss-making business. The world's No. 5 automaker said it would close two plants as pa..
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Reuters
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Oil edged up toward $63 a barrel on Friday after OPEC agreed to cut supply for a second time in two months, underlining its desire to manage the global market and prop up prices...
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ABC News
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Pfizer Inc. said Tuesday it will cut its U.S. sales force by 20 percent, or 2,200 people, as part of a cost-cutting program to transform the company into a more nimble organization as it struggles with sluggish sales...
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BusinessWeek
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Take these steps to protect your golden years: Cut expenses, consider refinancing, and make yourself indispensable at work
Investment losses, job loss or downsizing, an upward adjustment on your adjustable rate mortgage, and higher prices on everything..
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BusinessWeek
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On the heels of what is likely the last Fed rate cut for a while, the May 2 jobs report could offer clues on how far the economy will fall
Will the downturn be short and shallow or deep and vicious? With all apologies to William Shakespeare, that is th..
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BusinessWeek
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Action Economics still expects a rate cut of 50 basis points Mar. 18, though the Bear Stearns bailout could alter the Fed policy landscape
The markets saw some good news in two reports released Mar. 14. A report on U.S. consumer-level inflation in Febr..
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BusinessWeek
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The central bank announced a quarter-point cut to the discount rate and a new financing facility for investment banks on Mar. 16
The Federal Reserve announced a series of steps Mar. 16 to help provide relief to a spreading credit crisis that threatens..
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CNN
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BMW says it will cut 7.5 percent of its work force in Germany over two years while increasing production in the U.S. by more than 50 percent by 2012. "This is completely driven by the plunge in the dollar," said Greg Gardner with Oliver Wyman, publisher o..
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