Hedge fund giant Citadel's $2.5 billion cash infusion into E*Trade Financial failed to instill much confidence yesterday in the battered online brokerage firm, but the move could make it easier for the company to sell itself down the road. Citadel...
Verizon Wireless plans to begin testing an ultra-fast "fourth generation" wireless Internet network next year, but it won't use the much hyped WiMax technology that rival Sprint has been pushing for its next network. That positions the already...
Federal Reserve Chairman Ben Bernanke yesterday hinted that another interest rate cut may be needed to bolster the economy. The worsening credit crunch, a deepening housing slump and rising energy prices probably will create some "headwinds for the...
Dozens of Conrad Black's pals, including pop star Elton John, conservative talk-show host Rush Limbaugh and former Canadian Prime Minister Brian Mulroney, have penned letters to plead for a lenient sentence for the dethroned press baron. Black's...
Faster iPhone Apple will introduce a version of the iPhone next year that can download from the In ternet at a faster rate, AT&T CEO Randall Stephenson said.Holiday $$ Spending at US retail ers climbed 6.5 percent to $20 billion over the...
Freddie Mac, the nation's second-biggest mortgage-finance company, successfully sold $6 billion of preferred stock to bolster capital amid a deepening housing slump. In a sign of confidence for the beaten-down company, the offering was five times...
Investors are bailing by the droves from Eddie Lampert's troubled Sears and Kmart empire, sending its shares plunging the most in four years. "He's sitting on the Titanic," said Howard Davidowitz, chairman of Davidowitz & Associates, a retail...
After surviving a quarter century of riding Morgan Stanley's male merry-go-round of intrigues and coups, Zoe Cruz is out in a management shake-up that settles old scores. The Harvard-trained literature scholar landed her first job as a junior bond...
Fewer new homes than forecast were sold in the US in October even as prices dropped by the most in almost four decades, deepening the real estate slump that threatens to stall economic growth. A total of 728,000 new houses were purchased at an...
A pair of hedge funds that are getting battered by the choppy markets of the past few months are serving as a stark reminder that the pain inflicted on the once white-hot hedge-fund sector isn't only confined to those with subprime-bond exposure...
Just like 2006, the best-selling album of 2007 likely won't come from a major record label act - and, even more depressing for the music industry, for the third year in a row the final sales total will likely be down more than a million units. The...
THE Forbes family, which more than a year ago sold a minority stake in its empire to U2 frontman Bono and his associates at Elevation Partners, continues to dismantle the non-media portion of its family owned empire. The latest to go is the...
TiVo Inc. jumped 25 percent after reporting a narrower loss and saying the U.S. Patent and Trademark Office upheld its patent for digital-video recorders. The decision may bolster its position in a lawsuit against satellite-television provider...
Donald Trump's sweeping $2 billion proposal to build "the world's greatest golf course" in Scotland's breathtaking northeast coast has landed in a sand trap. "Of course I am surprised and disappointed," Trump told The Post yesterday, shortly after...
