News and Finance

He was tied this year to one of the largest securities scandals in history and faces charges ranging from forgery to unauthorized computer use, yet the former trader at French bank Societe Generale is gainfully employed, again.
Jerome Kerviel, who shook global financial markets when the bank revealed $7.14 billion in losses tied what it […]

Swiss National Bank Governing Board member Thomas Jordan said the current level of interest rates in Switzerland is “appropriate'' and that the central bank is closely monitoring risks to inflation and economic growth.
“There are no indications that the interest rate level is not appropriate for the foreseeable future,'' Jordan told reporters today after […]

Cell phone maker Motorola says it lost slightly more money in the first quarter as sales in its key mobile unit fell 39%.
Motorola says it lost $194 million, or 9 cents per share, on revenue of $7.45 billion. A year earlier, the company says it lost $181 million, or 8 cents per share, on […]

Delta Airlines and Northwest reminded investors Wednesday that hard-hit financial companies haven’t cornered the market for massive writedowns.
Atlanta-based Delta posted a first-quarter loss of $6.4 billion, or $16.15 a share, and its Minneapolis-based merger partner Northwest took a first-quarter loss of $4.1 billion, or $15.78 a share. Together, the companies - both of […]

Royal Bank of Scotland Group PLC said Tuesday it had suffered further losses of $11.7 billion from the U.S. subprime mortgage crisis and would ask investors for $23.9 billion in new capital to shore up its reserves.
The company said it would ask shareholders to approve a rights issue that would offer 11 new shares […]

Retail gas prices set records again Friday on their seemingly relentless march toward $3.50 a gallon as the price of oil surged to a record $117 a barrel.
At the pump, the national average price of regular gas rose 2.7 cents overnight to a record $3.445 a gallon, according to a survey of stations […]

Hundreds of workers streamed out of a General Motors Corp. assembly plant that makes crossover vehicles on Thursday, threatening the automaker’s ability to build one of its most popular products.
United Auto Workers members at the plant in Delta Township walked off their jobs just after a 10 a.m. deadline passed. The factory near Lansing […]

America is still the biggest drug market in the world, but its sluggish growth was blown away by most international markets last year, said IMS Health on Tuesday.
Worldwide prescription drug sales grew 6.4% to $712 billion in 2007, said IMS Health, a market research firm. This includes the United States drug market, which grew […]

Bear Stearns Cos. said Thursday it has delayed the filing of its fiscal first-quarter results because of disruptions caused by its buyout agreement with JPMorgan Chase & Co.
In a filing with the Securities and Exchange Commission, the investment bank said it expects to file its Form 10-Q by the extended deadline of April 14.
Bear […]

Financial leaders on Saturday urged the International Monetary Fund to sharpen its oversight of the global economy, which is burdened by surging food prices and a credit crisis that shows no end in sight.
As rich countries struggled to get a handle on financial turmoil that has rocked markets for nine months and worried the […]