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Business News provided by Yahoo!

  • Jobless rate at 4-1/2 year high (Reuters)
    Fri, 05 Sep 2008 13:10:40 GMT

    The U.S. unemployment rate unexpectedly shot up to 6.1 percent in August, its highest in more than 4-1/2 years, as employers cut payrolls for an eighth straight month and labor markets showed signs of accelerating decline. (Graphic/Reuters)Reuters - The U.S. unemployment rate unexpectedly shot up to 6.1 percent in August, the highest in over 4-1/2 years, as employers cut payrolls for an eighth straight month and a decline in labor markets accelerated.




  • Pimco names El-Erian CEO; Thompson to retire (Reuters)
    Fri, 05 Sep 2008 12:52:39 GMT

    Mohamed A. El-Erian in an undated photo. Pimco named El-Erian as its chief executive to replace Bill Thompson, who will retire at the end of the year. El-Erian, currently the co-CEO, joined Pimco in January from Harvard University, where he was managing a $34.9 billion endowment. (Justin Ide/Harvard News/Reuters)Reuters - Pacific Investment Management Co, the world's biggest manager of bond funds, named Mohamed El-Erian as its sole chief executive after co-CEO Bill Thompson retires at the end of the year.




  • Bank of America says ready to settle on auction rates (Reuters)
    Fri, 05 Sep 2008 13:01:50 GMT
    Reuters - Bank of America Corp , said it is ready to settle federal and state probes into the marketing of auction-rate securities, joining eight other companies that reached agreements.

  • Dell plans to sell computer factories: report (Reuters)
    Fri, 05 Sep 2008 07:12:19 GMT

    A Dell laptop computer is seen in New York August 26, 2008. (Brendan McDermid/Reuters)Reuters - Dell Inc is trying to sell computer factories around the world in efforts to cut cost and improve profitability, the Wall Street Journal said.




  • Wall St set to slide at open on jobs data (Reuters)
    Fri, 05 Sep 2008 13:17:00 GMT

    Traders work on the floor of the New York Stock Exchange, June 24, 2008. (Brendan McDermid/Reuters)Reuters - Stocks headed for a lower open on Friday after a government report showed the U.S. labor market deteriorated further in August, pushing the unemployment rate to its highest in more than 4-1/2 years.






  • ECB holds interest rates, slashes growth forecasts (AFP)
    Thu, 04 Sep 2008 17:05:37 GMT

    Euro symbol in front of Frankfurt's Eurotower, which houses the European Central Bank (ECB). The European Central Bank kept its key lending rate unchanged on Thursday and slashed its growth forecasts for this year and next, sending stock markets and the euro into tailspins.(AFP/File/John Macdougall)AFP - The European Central Bank kept its key lending rate unchanged on Thursday and slashed its growth forecasts for this year and next, sending stock markets and the euro into tailspins.




  • Wall Street, funds urge SEC to keep ratings in rules (Reuters)
    Thu, 04 Sep 2008 19:24:43 GMT
    Reuters - Securities regulators are locking horns with some of America's most powerful mutual funds and Wall Street players over plans to scrap requirements that money market funds hold investment-grade securities.

  • Slow August sales signal more weakness in retail (AP)
    Thu, 04 Sep 2008 20:19:07 GMT

    Wal-Mart customer checks out at Walmart in San Jose, Calif., Wednesday, Aug. 13, 2008. Wal-Mart Stores Inc., the world's largest retailer, said Thursday, Sept. 4, 2008, sales of groceries and back-to-school products helped its August same-store sales rise 3 percent, beating expectations. (AP Photo/Paul Sakuma)AP - When it came to buying their children new jeans and trendy tops, parents held the line: They focused on basics at discounters and waited for the best deals, resulting in weak August sales at many stores. That's a bad sign for the holiday season as families may be just as cautious with their gift-giving.
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