Arcive of financial news
A former employee of Lehman Brothers Holdings Inc. filed a $5 million lawsuit Tuesday in an effort to open a class action against the failed investment bank.
Miron Berenshteyn, a computer programmer, filed the lawsuit on behalf of more than 100 other former employees who were fired in a round of layoffs on Sept. 9. […]
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In an unprecedented move, the Federal Reserve Board is lending as much as $85 billion to rescue crumbling insurer American International Group, officials announced Tuesday evening.
The Fed authorized the Federal Reserve Bank of New York to lend AIG (AIG, Fortune 500) the funds. In return, the federal government will receive a 79.9% stake in […]
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Retail sales in Spain fell for an eighth month in July as record oil prices and higher interest rates eroded consumers' purchasing power.
Sales fell 6 percent from the year-earlier month, after adjusting for the number of days worked, the second-biggest decline since the series began in 2005, the National Statistics Institute said on […]
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The co-owner of Universal Orlando is considering buying Orlando-based Busch Entertainment Corp., a British newspaper reported Aug. 2.
Blackstone, a U.S. private equity firm that is also a major shareholder in the world's second largest themed attractions operator, is a suitor to buy Busch Entertainment once the purchase of St. Louis brewing giant […]
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A new sports and entertainment firm, Spike Consulting Group, has been launched in Houston.
The company, which also has offices in Northern California, specializes in consulting, interactive marketing and media.
As well as sales support and online marketing tools, the group provides full-service media consulting for sports teams and will develop original […]
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Chinese industrial companies' profits grew at half the pace of a year earlier on record oil and coal prices, increasing the likelihood that economic growth will continue to slow.
Combined net income rose 20.9 percent to 1.09 trillion yuan ($160 billion) through May, the statistics bureau said today. That was less than the 42.1 […]
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UBS AG said Thursday that it would raise $15.5 billion in a rights issue at a 31% discount below the current share price.
UBS (UBS), hard hit by its exposure to the U.S. mortgage market, said it will sell new shares at $20.09 each to existing shareholders, compared with the closing price of $29.31 on […]
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Maguire Properties Inc. directors voted to oust company founder Robert F. Maguire III as the real estate investment trust’s chief executive and chairman, officials announced Monday.
Board members voted to name former Maguire executive Nelson Rising as its new chief executive and to install board member Walter Weisman as company chairman, company officials said in […]
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Deutsche Bank AG, Germany's largest bank, joined HSBC Securities and JPMorgan Chase & Co. in pushing back its prediction for when the European Central Bank will start lowering interest rates.
Deutsche, HSBC and JPMorgan economists put aside signs this week that economic growth in the 15-nation euro area is slowing to forecast that the […]
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New filings for unemployment claims fell last week, according to a report released Thursday by the Labor Department.
According to the report, 366,000 people filed for unemployment for the first time in the week ended March 22, down 9,000 from a revised 375,000 reported in the previous week.
A consensus of economists polled by Briefing.com had […]
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