Top Business News
July 26, 2006 - 1:02pm — mbamap
Employment drops in a pink slip blizzard (AP)
AP - In a shower of pink slips, U.S. employers cut jobs last month for the first time in more than four years, the starkest signal yet that the economy is grinding to a halt if it hasn't already toppled into recession.
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Fidelity says lays off 250 employees (Reuters)
Reuters - Fidelity Investments, the world's
biggest mutual fund firm, has made a second round of layoffs
due to the ongoing restructuring at the group and axed about
250 jobs, a spokeswoman said on Friday.
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Fidelity says lays off 250 employees (Reuters)
Reuters - Fidelity Investments, the world's
biggest mutual fund firm, has made a second round of layoffs
due to the ongoing restructuring at the group and axed about
250 jobs, a spokeswoman said on Friday.
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Banks join to rescue Ambac: sources (Reuters)
Reuters - A group of large banks has joined
together to find ways to shore up Ambac Financial Group Inc
, a large bond insurer battered by the global credit
crunch, two people briefed on the talks said on Friday.
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Sputtering auto sales in January reflect weak economy (AFP)
AFP - Automakers faced an uphill climb in the US market in January, as weak economic conditions and consumer caution put a dent into sales, company reports showed Friday.
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Exxon and Chevron earnings soar on record oil prices (Reuters)
Reuters - Exxon Mobil Corp said on
Friday record oil prices propelled its quarterly and yearly
profits to the highest-ever levels by a U.S. company.
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Wal-Mart prepares small U.S. stores to fend off Tesco (Reuters)
Reuters - Wal-Mart Stores Inc is actively
working to open its first small-scale grocery stores in
Arizona, according to city planning officials, as the world's
largest retailer looks to fend off competition from British
supermarket rival Tesco .
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Wal-Mart prepares small U.S. stores to fend off Tesco (Reuters)
Reuters - Wal-Mart Stores Inc is actively
working to open its first small-scale grocery stores in
Arizona, according to city planning officials, as the world's
largest retailer looks to fend off competition from British
supermarket rival Tesco .
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Wall Street stocks swing wildly (FT.com)
FT.com - US stocks were volatile on Friday as traders weighed up the first fall in US employment in 4½ years against a possible rescue plan for troubled bond insurers.
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Job losses in January raise recession fears (Reuters)
Reuters - U.S. employers cut payrolls for the
first time in 4-1/2 years in January, the Labor Department said
on Friday in a report that showed the slowing economy was at
growing risk of sliding into recession.
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