- Morgan Stanley cut 1,500 jobs this week: source
(Reuters)
Fri, 16 May 2008 22:47:04
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 sentiment
(Reuters)
Fri, 16 May 2008 20:49:15
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-80s
(Reuters)
Fri, 16 May 2008 20:59:31
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 agreement
(Reuters)
Sat, 17 May 2008 06:07:25
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: report
(Reuters)
Fri, 16 May 2008 18:57:58
Reuters - Investment bank Lehman Brothers
Holdings Inc will begin cutting jobs starting next
week, CNBC Television reported on Friday, without citing
sources.
- Quake Unlikely To Derail China’s Economy
(Investor’s Business Daily)
Fri, 16 May 2008 22:57:55
Investor’s Business Daily - While China grapples with the devastating May 12 earthquake in Sichuan — now thought to have killed 50,000 people, leaving 5 million homeless and property damage at $20 billion — the economic toll may be mild, analysts say. - SMFG posts big rebound, forecasts modest growth
(Reuters)
Fri, 16 May 2008 08:55:09
Reuters - Sumitomo Mitsui Financial Group (8316.T) reported a threefold increase in fourth-quarter profit, rebounding from massive losses at its consumer finance unit a year earlier, and it forecast modest growth ahead. - Abercrombie profit edges up on sales increase
(AP)
Fri, 16 May 2008 20:52:46
AP - Teen retailer Abercrombie & Fitch Co. said Friday that its first-quarter earnings rose 3 percent from a year ago on stronger sales.