Citigroup, long accustomed to earning billions from loaning money to cash-strapped companies, got a taste of its own medicine when it was forced to pay through the nose to get desperately needed cash to boost its capital position. The Abu...
Time Inc.'s Fortune is set to unveil a redesign aimed at helping it recapture its mojo at a time when biz-mag competition is heating up and advertising is cooling. Slated to hit newsstands next week as the Dec. 17 issue, the mag is opting for...
The Arab world's richest man - Saudi Prince Alwaleed bin Talal - may have been upstaged publicly by another oil rich family next door in Abu Dhabi - but he's still very much a power player in Citigroup's future. Alwaleed had been the bank's...
FCC vote The FCC called off a vote to expand federal oversight of the cable television industry. Meanwhile, a Senatecommittee plans to vote next week on a bill that would force the FCC to delay changing media ownership rules.Cyber sales American...
Wall Street Journal publisher Dow Jones & Co. is putting its community newspapers on the auction block. The move, announced yesterday, comes as Dow Jones is about a month away from being acquired by News Corp., which publishes The Post. News...
Freddie Mac, the second-biggest buyer of US home mortgages, said it will sell $6 billion of preferred stock and slash its dividend in half as mortgage defaults and foreclosures continue to do damage to its balance sheet. Sources said yesterday...
Google, whose corporate motto is "don't be evil," created a research group to develop cheaper renewable energy sources, focusing on solar, wind and other alternative forms of power. Google said yesterday that it's hiring engineers and energy...
Wall Street doesn't seem that afraid anymore of the "R" (recession) word, and shrugged off a new round of gloomy news to send stocks rebounding yesterday. The stock bounce came despite more reports of housing and credit troubles, with consumer...
THE new trend in magazine publishing: Put the word "living" at the end of a magazine's title and enter the shelter category. It has worked for Anna Wintour, the Vogue editrix who is overseeing a fashion empire that now includes the shelter and...
Tribune Co.'s shares sank yesterday on renewed jitters that the media company's plan to go private with backing from real-estate mogul Sam Zell is in jeopardy. The Chicago company, which owns the Chicago Tribune, the Los Angeles Times, Long...
THE roiling credit markets didn't keep Broadway Partners from closing on its purchase of 280 Park Ave. from Istithmar for $1.278 billion. Broadway also brought in building tenant Investcorp as a 50 percent partner in a deal that included taking...
Verizon Wireless is tearing down the walls of its notoriously gated wireless network and making its service compatible for the first time with many devices and related software it doesn't sell - including phones from rival Sprint. Starting at the...
Microsoft wants to show consumers where Windows meets the Web. The software giant is gearing up for a major ad push to highlight how its suite of free online software connects to its Windows operating system over the Internet. The campaign also...
