Reuters - German billionaire Adolf Merckle who was hit by a train on Monday evening killed himself, unhinged by financial turmoil and struggling to salvage his business empire, his family said on Tuesday.
Reuters - The U.S. stock market could gain as much 12 percent in 2009 from current levels, despite a recession that will last at least into the first half of the year, a top executive with asset manager BlackRock said on Tuesday.
Reuters - Talbots Inc shares jumped 24 percent on Tuesday, a day after the women's apparel retailer said it entered into agreements with three banks to secure a total $150 million in committed lines of credit.
Reuters - New orders received by U.S. factories plunged a much-greater-than-expected 4.6 percent in November, the fourth straight monthly decline and a sign the sharp drop in manufacturing is deepening the recession, a government report showed on Tuesday.
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Sun Microsystems Inc. (JAVA) says it will cut up to 6,000 of its workers, or 18 percent of its global staff. Sun also says its software chief, Rich Green, has resigned. The job cuts will include between 5,000 and 6,000 employees over the next year and will save the company $700 million to $800 million annually....
Citigroup Inc (C) is cutting at least 10,000 jobs in its investment bank and other divisions throughout the world. Citigroup announced last month it cut 11,000 jobs in the third quarter, bringing the total number of job cuts in 2008 to 23,000....
Abercrombie & Fitch Co. (ANF) said Friday the pullback in consumer spending drove its third-quarter profit down 46% and offered fourth-quarter guidance below expectations. ANF's profit slid to $63.9 million, or 72 cents per share, from $117.6 million, or $1.29 per share, last year. Revenue fell 8 percent to $896.3 million from $973.9 million a year ago. Analystsexpected profit of 71 cents per share on revenue of $909 million....
One thing that has most certainly surprised me during the Money Show in DC was the fact that there are still were so many visitors, despite the fact that the world is supposedly crumbling around us as we speak. The talk of the Great Depression and Armageddon hasn't really disappeared after the election as one might have hoped, and the only thing that seems to be changing daily is the finger pointing part- one day it's the Wall Street, the...
Once again, the S&P 500 tested its October 10th intra-day low, but this time the index broke it. Today's intra-day low was 820.13, which is 19.67 points below the low from October 10th. The Dow, however, still held above its...
