Latest headlines in Business News
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Visteon judge won't halt benefits termination(AP) (Yahoo Business 2010-03-17 00:59:10)
AP - A Delaware bankruptcy judge has refused to halt implementation of his order allowing auto parts supplier Visteon Corp. to terminate its retirees' health and life insurance benefits.
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CIT Group posts 4Q loss of $1 billion(AP) (Yahoo Business 2010-03-16 23:10:42)
AP - CIT Group on Tuesday said it lost $1 billion in the fourth quarter, excluding a huge one-time reorganization benefit.
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PIMCO: End of mortgage buys form of tightening(Reuters) (Yahoo Business 2010-03-16 22:50:50)
Reuters - The end of the Federal Reserve's program of purchasing $1.25 trillion of mortgage-backed securities at the end of March is a form of tightening monetary policy, the chief of the largest U.S. bond fund manager said on Tuesday.
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CIT Group loses $4 million in 2009(AP) (Yahoo Business 2010-03-16 22:35:27)
AP - CIT Group says it lost $4 million in 2009 as losses from bad loans more than offset financial benefits from its bankruptcy reorganization.
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Canadian MPs accuse Toyota of sitting on info(Reuters) (Yahoo Business 2010-03-16 22:32:57)
Reuters - Canadian lawmakers accused Toyota Motor Corp executives on Tuesday of waiting too long to inform the government of problems with faulty accelerators in some of the company's vehicles.
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Focus Media posts narrower 4Q loss(AP) (Yahoo Business 2010-03-16 22:14:37)
AP - China's Focus Media Holding Ltd. said Tuesday that a drop in one-time expenses helped narrow its fourth-quarter loss.
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Brazen Conn. warehouse heist nets $75M in pills(AP) (Yahoo Business 2010-03-16 22:09:35)
AP - In a Hollywood-style heist, thieves cut a hole in the roof of a warehouse, rappelled inside and scored one of the biggest hauls of its kind — not diamonds, gold bullion or Old World art, but about $75 million in antidepressants and other prescription drugs.
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EU backs Greek austerity as standby aid readied(Reuters) (Yahoo Business 2010-03-16 21:48:51)
Reuters - EU finance ministers backed plans on Tuesday by countries in the euro area to help debt-stricken Greece financially if it becomes the first state in 11 years of monetary union to seek such aid.
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Conn. officials feel pressure over job losses(AP) (Yahoo Business 2010-03-16 21:46:19)
AP - Job cuts at United Technologies Corp. are adding to the political debate over taxes and other costs of doing business in Connecticut.
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Ex-exec testifies in KB Home fraud trial in LA(AP) (Yahoo Business 2010-03-16 20:52:04)
AP - A former KB Home executive has testified in Los Angeles against his ex-boss in a federal fraud trial.
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Woods' return to golf a boon to sponsors(AP) (Yahoo Business 2010-03-16 20:43:24)
AP - Tiger Woods' return to the golf course is a long-awaited boon to sponsors that stood by him and marketers who stand to get big exposure from the big Masters audience.
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Tax cuts for wealthy should expire: panel chair(Reuters) (Yahoo Business 2010-03-16 20:25:23)
Reuters - Most House Democrats back President Barack Obama's plan to let tax cuts for the wealthy expire this year, though the proposal will face a battle in the Senate, the acting chief of the tax-writing panel in the House of Representatives said on Tuesday.
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Discover posts loss in 1Q, misses expectations(AP) (Yahoo Business 2010-03-16 20:21:56)
AP - Discover Financial Services says ongoing loan losses led it to lose money in the first three months of the year and fall well short of analyst forecasts.
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Is ExxonMobil Still Best of Breed?(The Motley Fool) (Yahoo Business 2010-03-16 20:19:58)
The Motley Fool - It doesn't take a genius to recall that ExxonMobil (NYSE: XOM - News) is the biggest of Big Oil. So with that fact out of the way, those with a yen for investing in energy are left to question whether the company is also the best of its group.
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Saab to locate North American HQ in Royal Oak(AP) (Yahoo Business 2010-03-16 20:13:56)
AP - Now that General Motors Co. has sold its Saab brand to a Dutch carmaker, the employees who market the brand are moving to a new headquarters in the Detroit suburb of Royal Oak.
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Summary Box: Commodities gain on interest rates(AP) (Yahoo Business 2010-03-16 20:08:39)
AP - PRICE GAINS: Prices for most commodities rose as the Federal Reserve left interest rates at record lows to boost economic growth. The key exception was natural gas, which settled lower.
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GE sees profit, dividend up in 2011, shares climb(Reuters) (Yahoo Business 2010-03-16 19:46:37)
Reuters - After two rocky years and a severe global financial crisis, General Electric Co expects its profit and dividend to rise in 2011, the largest U.S. conglomerate's chief financial officer said.
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Oil settles near $82 as Fed keeps rates low(AP) (Yahoo Business 2010-03-16 19:32:46)
AP - Oil prices climbed back near $82 on Tuesday as the Federal Reserve said again that it will hold interest rates at record lows as the economy continues to recover.
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Ford says new V-8 Mustang tops in fuel economy(AP) (Yahoo Business 2010-03-16 19:30:30)
AP - Ford Motor Co. says the 2011 Mustang GT has something unexpected to brag about: Fuel economy.
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Saudi sees OPEC output steady for rest of year(AP) (Yahoo Business 2010-03-16 19:07:10)
AP - Saudi Arabia's oil minister said Tuesday he expected OPEC to keep output steady for the rest of this year, in comments reflecting expectations that crude prices and supply are in sync with the fitfully recovering world economy.