A once high-flying Chinese security services company has hit some major turbulence after an independent research shop issued a scathing report on the quality of its financial statements. RiskMetrics' CFRA, an accounting-centered research firm...
Apartment dwellers may soon get cheaper cable-TV bills after federal regulators ruled that cable companies couldn't sign exclusive pacts with building owners. The change, unanimously approved by the Federal Communications Commission yesterday...
Deutsche Bank AG, Germany's biggest bank, shrank its bonus pool after 2.16 billion euros ($3.12 billion) of losses and write-downs linked to the U.S. subprime collapse led to the securities unit's first loss in five years. Deutsche Bank cut...
Crude oil rose to a record $94.74 barrel intraday after an Energy Department report showed that U.S. inventories fell to a two-year low. Yesterday's 4.6 percent gain was the biggest since Jan. 30. Stockpiles dropped 3.89 million barrels to 312.7...
Hollywood writers and studio bosses let a contract deadline expire at midnight last night without reaching a new agreement. With the expiration of the contract, The Writers Guild of America can call a strike at any time. It's unclear when the...
Struggles in the housing market tripped up third-quarter profits for Barry Diller's IAC/Inter- ActiveCorp, as its Lending Tree unit offset gains made by the company's ticket business and HSN, the home-shopping channel. IAC's net income slipped 4.2...
WASHINGTON - A moratorium on Internet access taxes got a last-minute extension yesterday, one day before it would have expired. The White House said President Bush would sign legislation approved by Congress to extend the ban for seven more years...
Banc of America Securities continues to rapidly reduce its headcount, as one of its senior bond traders announced his resignation yesterday. Investment-grade bond-trading chief Michael J. Meyer announced his departure from BofA yesterday, one day...
Google's stock price surged above $700 a share yesterday, only three weeks after passing $600. The jump in the shares - which have added $33 billion in market value in the past few weeks alone - has further fattened the wallets of the Internet...
Federal Reserve policy makers treated investors to a Halloween interest-rate cut that sent stock prices soaring. The move - the second rate cut since the subprime-lending debacle unleashed chaos and outsize losses in both stock and bond markets...
Wall Street firms may be taking multi-billion dollar write-offs, but Lazard boss Bruce "Bid 'em up" Wasserstein still managed to blow away third-quarter earnings yesterday on higher fees for deal advice. Lazard's profit in the quarter surged to...
YOU probably don't know this - and won't believe it when I tell you - but inflation dropped significantly last quarter, especially when it comes to energy prices. That, at least, is what Washington would have us believe. And you probably didn't...
Northern Rock Plc, the U.K. bank bailed out last month by the Bank of England, hired Blackstone Group as a third adviser to help secure funding and evaluate preliminary takeover offers from investors. Preliminary bidders include London-based...
Countrywide Financial Corp. shareholders sued Chief Executive Officer Angelo Mozilo and 19 other company officers and directors, claiming a stock buyback program allowed them to sell shares at inflated prices. The defendants sold $842 million in...
