Yahoo! News: Business
Business
Asia stocks at 2-month high
(Reuters)
6 Jan 2009 at 10:38pm
Reuters - Asian stocks rose on Wednesday, extending their recent rally into an eighth straight day, inspired by hopes massive U.S. government spending and tax cuts will continue to support the dollar and stimulate demand for exports.
GM says government loans cover worst scenario: report
(Reuters)
6 Jan 2009 at 10:40pm
Reuters - General Motors Corp has adequate government loans pledged to cover the worst-case scenario it outlined in December to Congress and will not need more unless the economy worsens, a Bloomberg report said.
Alcoa to slash jobs and sell 4 units
(Reuters)
6 Jan 2009 at 3:12pm
Reuters - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
Bank of America sells $2.8 billion China bank stake
(Reuters)
6 Jan 2009 at 9:55pm
Reuters - Top U.S. lender Bank of America , raising cash to weather a dismal market at home, sold a $2.83 billion chunk of its holding in China Construction Bank (0939.HK) on Wednesday, dragging the Chinese bank's stock 6 percent lower.
U.S. budget deficit seen topping $1 trillion in 2009
(Reuters)
6 Jan 2009 at 9:19pm
Reuters - Politicians want American consumers to resume spending to pull the economy out of its tailspin, and the U.S. government is leading by example with a potential $1 trillion deficit in 2009 -- even before a massive stimulus plan.
SEC names James Kroeker acting chief accountant
(AP)
6 Jan 2009 at 11:09am
AP - James Kroeker has been promoted to acting chief accountant at the Securities and Exchange Commission to replace the retiring incumbent, the agency announced Tuesday.
Fed and other agencies to join U.S. fraud task force
(Reuters)
6 Jan 2009 at 3:02pm
Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
Leading Democrat offers mortgage aid bill
(Reuters)
6 Jan 2009 at 2:29pm
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
Japan's Aeon posts Q3 net loss
(Reuters)
6 Jan 2009 at 10:36pm
Reuters - Japan's second-largest retailer Aeon Co Ltd slashed its earnings outlook and said it may post its first annual net loss in seven years, hit by flagging sales, a writedown at U.S. unit Talbots and accounting changes.
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