TOKYO (Reuters) – Japanese electronics maker Panasonic Corp is in talks with Goldman Sachs and two other major shareholders of Sanyo Electric Co Ltd to buy a controlling stake in its smaller rival, company and financial sources said on Saturday.
Oil prices ended the week with a modest rally Friday but couldn’t erase one ugly October: Crude capped its biggest monthly drop since futures trading began 25 years ago, weighed down as a deflated U.S. economy crushes demand for fuel.
Evidence of a recession piled ever higher Friday, with new figures showing Americans are spending less and gloomy about the economy, while the government signaled it won’t buy stock in the financing arms of auto companies to prop them up.
The stock market closed out a horrendous October, its worst month in 21 years, with a big advance Friday as more investors took chances on stocks turned into bargains by waves of intense selling.
JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure.
Chevron on Friday reported the largest quarterly profit in its 129-year corporate history, joining other oil companies reporting stunning third-quarter earnings gains.
What is it about October and stocks? The month that brought the 1929 crash, Black Monday in 1987 and other midautumn market crises delivered its worst monthly performance in 21 years.
A federal jury on Friday convicted the former CEO of a failed health-care financing company in a $1.9 billion fraud case that prosecutors likened to the Enron or WorldCom scandals.
NEW YORK (Reuters) – Wall Street hopes to turn a new page as it heads into November, but next week is littered with hurdles ranging from the U.S. presidential election to a likely gloomy jobs report.
NEW YORK (Reuters) – Americans slashed spending and the country’s business outlook weakened but there were signs of stabilization in global markets on Friday, with interbank rates falling and U.S. stocks posting their best week in 34 years.