Arcive of financial news
Tellabs, a provider of telecommunications equipment for service providers, plans to cut 141 job cuts at the company’s location on North Dallas Parkway in Dallas.
In a letter filed with the Texas Workforce Commission, Dallas-based Tellabs says it’s restructuring the company with the intent of realigning its financial plan with consumer needs and demands. During the […]
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Lockheed Martin Corp. has announced that its third quarter profits increased 2 percent over last year, but its sales during the period declined 5 percent.
The Bethesda, Md.-based defense contractor (NYSE: LMT) reported net earnings of $782 million or $1.92 per diluted share during the third quarter, compared to $766 million or $1.80 per share last […]
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Three years after Peabody Energy Corp. opened an office in Beijing, the company announced plans to pursue a large-scale mine in coal-rich Inner Mongolia and a plant that would convert the fuel normally used in power plants and steel mills into more valuable methanol and chemicals.
The project, estimated to cost as much as […]
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Oil prices fell below $99 a barrel on Sunday in a special early-start session as traders bet that Hurricane Ike did not cause significant damage to refineries.
"The market is expressing some relief," said Andrew Lebow, a broker at MF Global in New York. "We were worried on Friday that the storm surge would […]
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While politicians of all stripes are vying to be seen as saviors in the energy crisis, Congress isn’t giving renewable energy investors the one thing they say would help the most - long-term tax credits.
Lawmakers from both sides of the aisle want the nation to move away from fossil fuels and become more […]
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The men’s and women’s clothing store chain Steve & Barry’s will soon file for Chapter 11 bankruptcy protection, according to a report in the Wall Street Journal.
Port Washington, N.Y.-based Steve & Barry’s has more than 270 stores across the nation, including one that opened in early 2008 in Birmingham.
The Wall […]
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The Baltimore Sun will eliminate 100 positions in August through buyouts, layoffs and attrition.
Sun Publisher Tim Ryan announced the job cuts in an internal memo to the staff of the Baltimore Sun Media Group on Wednesday.
The announcement is the latest round of cuts at the daily newspaper, owned by Chicago's […]
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Federal Reserve Bank of New York President Timothy Geithner said no country can cope with world financial crises alone and regulators will have to find ways to work together on an ongoing basis.
“Markets are so integrated that solutions can't be implemented by individual countries,'' Geithner said at a news conference in Jerusalem today. […]
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India's manufacturing grew at the slowest pace in four months in January as weakening consumer demand in the U.S. hurt exports of textiles and auto parts.
ABN Amro Bank NV's purchasing managers' index fell to 60.7 last month, the lowest level since September, from 61.9 in December, according to a report released today. […]
Merck and Schering-Plough said Friday that they object to mischaracterizations of a recent study that raised questions about the effectiveness of cholesterol drug Vytorin.
The companies are being sued in several states over allegations they misled consumers into thinking that Vytorin and the drug Zetia were more effective than generics. In a statement Friday, the […]
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