The mining company said it plans to reduce spending by $5 billion as commodity prices have fallen sharply. More: continued here
The mining company said it plans to reduce spending by $5 billion as commodity prices have fallen sharply. More: continued here
Citigroup’s Nikko Cordial Securities will cut its work force through early retirement, and some 1,000 employees, mostly those aged above 40, have accepted severance offers, a report says. More: continued here
Steel joins the list of financial leaders going without bonuses for 2008. More: continued here
Japan’s largest carmaker will temporarily suspend output in December and January. More: continued here
A spokesman said ”no bankruptcy filing is imminent,” but Nortel has sought legal counsel to explore bankruptcy protection if its restructuring fails, a report says. More: continued here
Ford set up $23.5 billion worth of credit back in 2006, and is confident that the borrowing, coupled with restructuring and new product plans, will get it through the recession without relying on the government. More: continued here
CHICAGO—-Four free stock picks are being made available today on Zacks.com. The industry?s leading independent research firm highlights one Zacks #1 Rank Strong Buy or a Zacks #2 Rank Buy stock for each of the four main styles of investing: Aggressive Growth, Growth & Income, Momentum, and Value. More: continued here
American International Group owes Wall Street’s biggest firms about $10 billion for speculative trades that have soured, the Wall Street Journal reports. More: continued here