Reuters: Business NewsMorgan Stanley cut 1,500 jobs this week: sourceNEW YORK (Reuters) - Morgan Stanley cut 1,500 jobs this week across its investment banking, trading and asset management businesses, a person familiar with the situation said Friday, a 5 percent reduction of non-broker employees. |
Wall St ends flat as energy gains offset sentimentNEW YORK (Reuters) - Stocks finished little changed on Friday as surging oil prices lifted energy shares and offset data that showed consumer confidence sank to its lowest in 28 years. |
Consumers' mood as grim as early-80sNEW YORK (Reuters) - U.S. consumer confidence tumbled to a 28-year low this month as rising prices strained household finances, while another drop in single-family housing starts underscored problems still plaguing the economy. |
American Axle and UAW reach tentative agreementDETROIT (Reuters) - The United Auto Workers and American Axle & Manufacturing Holdings Inc reached a tentative contract agreement late Friday aimed at ending an 11-week-long strike that had triggered thousands of layoffs and cost General Motors Corp at least $1 billion. |
Lehman Brothers job cuts to start next week: reportNEW YORK (Reuters) - Investment bank Lehman Brothers Holdings Inc will begin cutting jobs starting next week, CNBC Television reported on Friday, without citing sources. |
Time Warner Chairman likely to step downNEW YORK (Reuters) - Time Warner Inc Chairman Richard Parsons said he is likely to step down in the next year, clearing the path for Chief Executive Jeffrey Bewkes to assume the role. |
Fannie Mae relaxes loan down-payment requirementsNEW YORK (Reuters) - Fannie Mae, the largest U.S. home funding source, is setting a single national standard for down payments on mortgages it buys, including areas where home prices are falling, in an effort to stimulate the housing market. |
Motorola's chief strategy officer quitsNEW YORK (Reuters) - Rich Nottenburg, Motorola Inc's chief strategy and technology officer, has become the latest senior staff member to exit since activist investor Carl Icahn strengthened his influence, a spokeswoman said on Friday. |
Cathay Pacific mulls route cuts on high fuel: paperHONG KONG (Reuters) - Cathay Pacific Airway Ltd , Hong Kong's dominant airline, is considering cutting its money-losing routes amid soaring fuel prices, South China Morning Post said on Saturday, citing the airline's chief executive as warning in an internal newsletter. |
Airport slot auctions proposed for Newark, JFKWASHINGTON (Reuters) - The U.S.government proposed on Friday to auction some takeoff and landing rights at the New York area's two international airports, as a way to boost competition, a plan that drew sharp criticism from airlines. |