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Updated: 12 min 52 sec ago

Toyota to halt output for 11 days as sales slump (Reuters)

27 min 1 sec ago

Reuters - Toyota Motor Corp (7203.T), the world's biggest automaker, is to halt production at all its Japanese plants for a total of 11 days in February and March in a bid to reduce stocks of unsold cars as demand has slumped.


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Merrill brokerage chief McCann to leave (Reuters)

Tue, 01/06/2009 - 12:51am
Reuters - Bob McCann, head of brokerage at Merrill Lynch & Co, announced his plans to leave the securities firm, just days after its acquisition by Bank of America was completed.
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Asia stocks up on hopes of recovery (Reuters)

Mon, 01/05/2009 - 11:36pm

Reuters - Asian stocks edged up for a seventh day on Tuesday, boosted by hopes for a global economic recovery later in 2009, though the rising yen and falling high-yielding currencies suggested such optimism was limited.


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Prosecutors seek to jail Madoff (Reuters)

Mon, 01/05/2009 - 8:55pm

Reuters - U.S. prosecutors asked a judge to jail accused swindler Bernard Madoff on Monday, saying he sent jewelry and other items worth more than $1 million to family and friends in violation of his bail.


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Car sales plunge heralding bleak 2009 (Reuters)

Mon, 01/05/2009 - 8:52pm

Reuters - U.S. auto sales plunged by 36 percent in December led by outsized declines at Chrysler LLC, Hyundai Motor (005380.KS) and Toyota Motor Corp(7203.T) as the battered industry closed out its weakest year since 1992 in its largest single market.


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Lawmakers set new mortgage bankruptcy bill (Reuters)

Mon, 01/05/2009 - 7:53pm
Reuters - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.
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Prosecutors seek to jail Madoff (Reuters)

Mon, 01/05/2009 - 7:36pm

Reuters - U.S. prosecutors asked a judge to jail accused swindler Bernard Madoff on Monday, saying he sent jewelry and other items worth more than $1 million to family and friends in violation of his bail.


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Fed buys MBS in latest unconventional move (Reuters)

Mon, 01/05/2009 - 6:21pm
Reuters - The Federal Reserve on Monday kick-started its latest unconventional program to boost the moribund economy, this time taking aim at the heart of the slumping housing market.
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GE's finance arm launches $10 billion FDIC-backed debt (Reuters)

Mon, 01/05/2009 - 5:53pm

Reuters - General Electric Co's finance arm on Monday launched a $10 billion sale of FDIC-backed debt, the largest sale under the government guarantee program since its inception last November.


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U.S. seeks to revoke Madoff bail (Reuters)

Mon, 01/05/2009 - 5:53pm

Reuters - U.S. prosecutors asked a judge to revoke the bail terms for alleged swindler Bernard Madoff and detain him on Monday, claiming he was a flight risk.


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Stocks slip on telecom and financials; Apple jumps (Reuters)

Mon, 01/05/2009 - 5:34pm

Reuters - Stocks fell on Monday as investors booked profits after last week's run-up, while concerns about slowing cell phone sales hit shares of the biggest telecommunications companies.


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Car sales plunge, heralding bleak 2009 (Reuters)

Mon, 01/05/2009 - 5:16pm

Reuters - Major automakers reported U.S. sales in December that plunged by more than a third, closing out the weakest year for the battered industry in over a decade and a half in its largest single market.


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NY Fed begins purchasing mortgage securities (AP)

Mon, 01/05/2009 - 3:58pm
AP - The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.
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U.S., Germany mull tax cuts, gloom eases (Reuters)

Mon, 01/05/2009 - 1:59pm

Reuters - The prospect of new tax cuts in the United States and Germany injected a measure of New Year cheer on Monday, and a euro zone investor survey indicated new hope that the worst of the financial crisis had passed.


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Economists see jobless surge, deeper housing hole (Reuters)

Mon, 01/05/2009 - 1:56pm

Reuters - The worst financial crisis in more than a half century is going to get even worse, putting further pressure on U.S. home prices and driving the unemployment rate above 11 percent, according to two prominent academic economists.


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Apple's Jobs reassures investors about his health (Reuters)

Mon, 01/05/2009 - 1:43pm

Reuters - Apple Inc Chief Executive Steve Jobs sought to soothe investor concerns about his health on Monday, saying his weight loss was caused by a hormone imbalance that is relatively simple to treat.


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Walgreen, Rite Aid shoppers look for basics in Dec (Reuters)

Mon, 01/05/2009 - 1:14pm

Reuters - Walgreen Co's sales at drugstores open at least a year rose a better-than-expected 4.9 percent in December, as cash-strapped consumers continued to buy basics but shied away from holiday items.


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Tyson Foods CEO Dick Bond leaves company (Reuters)

Mon, 01/05/2009 - 12:07pm

Reuters - Tyson Foods Inc Chief Executive Dick Bond said on Monday that he was leaving the No. 1 U.S. meat company, effective immediately.


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AT&T, Verizon shares hit by analyst downgrade (Reuters)

Mon, 01/05/2009 - 11:39am

Reuters - Shares of top phone companies AT&T Inc and Verizon Communications Inc fell on Monday after Bernstein Research downgraded their ratings and price targets.


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Pfizer chief open to acquisitions: report (Reuters)

Mon, 01/05/2009 - 9:18am

Reuters - Pfizer Inc , the world's biggest pharmaceutical group, is open to acquisitions, its chief executive Jeff Kindler told the Financial Times in an interview.


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