49296 results returned for search: "" category ("Other" AND "Business")
A fund listed on the Bermuda Stock Exchange has revealed that it has $2.8 million in indirect exposure to the Madoff scandal.
Global Specialised Opportunities 1 Ltd. (GSO1) said in a stament released by the BSX: "As you may be aware, allegations have...
DATE: Dec 17, 2008
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MINNEAPOLIS (AP) — Best Buy Co. Inc. , the nation's biggest consumer electronics retailer, said yesterday that its third-quarter profit sank 77 percent as it faced dramatic changes in consumer spending.
The company also said it will offer massive buy...
DATE: Dec 17, 2008
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SAN FRANCISCO (Bloomberg) — Intel Corp., the world's biggest maker of semiconductors, will demonstrate technology that shrinks the components of chips, helping maintain the company's lead over rivals such as Advanced Micro Devices Inc.
Intel plans to...
DATE: Dec 17, 2008
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HARTFORD, Connecticut (AP) — The former chief executive of General Re Corp. was sentenced yesterday to two years in prison and fined $200,000 for his role in a scheme that cost shareholders of American International Group Inc. more than $500 million....
DATE: Dec 17, 2008
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NEW YORK (AP) - A surprised Wall Street bolted higher yesterday after the Federal Reserve's historic decision to further slash interest rates and pledge broad support to revive the troubled economy.
The Dow Jones industrials surged 360 points, or 4.2...
DATE: Dec 17, 2008
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NEW YORK (Bloomberg) — American International Group Inc. chief executive officer Edward Liddy may face a congressional hearing to explain "the full extent" of the insurer's plan to give bonuses to as many as 7,000 people so they won't quit.
Liddy sho...
DATE: Dec 17, 2008
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It proved to be a day of losses on The Royal Gazette/Bermuda Stock Exchange (BSX) yesterday, with at least four companies seeing their stock value fall.
The utilities sector led the way, with Belco Holdings Ltd. down 50 cents (3.12 percent) at $15.50...
DATE: Dec 17, 2008
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WASHINGTON (Reuters) - The US Federal Reserve yesterday entered uncharted policy territory as it chopped its benchmark interest rates to as low as zero and pledged to use "all available tools" to turn back a deepening recession.
In a surprise and his...
DATE: Dec 17, 2008
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WASHINGTON (Reuters) - The $50 billion fraud allegedly committed by broker Bernard Madoff is a major embarrassment for the US Securities and Exchange Commission and adds to questions already being asked about the regulator's competence.
The SEC's ina...
DATE: Dec 17, 2008
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NEW YORK (AP) — Goldman Sachs Group Inc. yesterday reported its first quarterly loss since it went public in 1999, losing $2.29 billion during its fiscal fourth quarter.
The loss proves the turmoil in the financial markets has tripped up even the bes...
DATE: Dec 17, 2008
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