Category Archives: News

Toyota sees 2009 global output down 20 percent: report

TOKYO (Reuters) – Toyota Motor expects to produce 6.5 million vehicles globally on a parent company basis this year, down more than 20 percent from an estimated 8.2 million last year, the Chunichi newspaper reported.

Barclays says not seeking capital after $11 billion hit

LONDON (Reuters) – Barclays is not seeking capital from private investors or the state as it remains profitable and can absorb a 2008 writedown of 8 billion pounds, the British bank said on Monday, sending its shares soaring.

Satyam to look at funding options, L&T stake

HYDERABAD, India (Reuters) – India’s Satyam Computer Services Ltd will this week discuss a shortlist of three candidates for chief executive and look at funding options to get the fraud-hit outsourcer through the next few weeks.

U.S. bankers avoid glitz of Davos, image a concern

NEW YORK (Reuters) – It used to be a prized invitation for Wall Street CEOs and top government officials. But for the U.S. banking elite, a ticket to this year’s World Economic Forum in Davos risks becoming as toxic as the mess left over from the subprime mortgage crisis.

Pfizer nears $68 billion deal to buy Wyeth: sources

PHILADELPHIA/AMSTERDAM (Reuters) – Pfizer Inc, the No.1 drugmaker, was close to a billion purchase of U.S. rival Wyeth in a move to diversify its revenue base, sources familiar with the situation said.

ING to take government guarantees, CEO steps down

AMSTERDAM (Reuters) – Dutch financial group ING will take a 2008 loss of 1 billion euros (.3 billion) and will tap into 22 billion euros of Dutch state loan guarantees for its troubled loan portfolio, it said on Monday.

U.S. business climate worst in 27 years: survey

WASHINGTON (Reuters) – U.S. firms are experiencing the worst business conditions in 27 years as the year-long recession worsens, a survey showed on Monday.

Bankruptcy fears grip U.S. auto-parts firms: report

(Reuters) – Visteon Corp, one of Ford Motor Co’s biggest parts suppliers, has hired legal and financial advisers to prepare for possible bankruptcy proceedings, the Wall Street Journal reported, quoting people familiar with the matter.

Walgreen picks insider Wasson to be next CEO

CHICAGO (Reuters) – Walgreen Co stuck to its historic strategy and picked an insider, President Greg Wasson, as its next chief executive, after taking months to look at external candidates for the first time.

BofA played role in $4 billion Merrill bonuses: report

PHILADELPHIA (Reuters) – Bank of America played a role in Merrill Lynch’s controversial decision to pay billion in bonuses in December, the Financial Times reported on Sunday.