FANNIE Mae, the government-controlled company seen by President Barack Obama as a key conduit to stabilise US housing, on Thursday reported a US$25.2 billion fourth-quarter loss, forcing it to draw capital from the Treasury.
Saturday, February 28, 2009
Friday, February 27, 2009
Princes of darkness
A stock trader dressed as the devil is seen in front of the German share price index DAX board at the German stock exchange.
Thursday, February 26, 2009
German economy shrinks 2.1% in Q4
(FRANKFURT) The German economy, Europe's biggest, posted a sharp contraction late last year as crucial exports collapsed, and several economists have now revised their forecasts for 2009 even lower.
Tuesday, February 24, 2009
Yahoo news exec quits amid talk of revamp
(SAN FRANCISCO) The head of Yahoo Inc's news and information division has jumped ship to Hearst Corp, as speculation mounts that the Internet company is on the brink of a major management reorganisation.
Monday, February 23, 2009
A master of small budget films
(HOLLYWOOD) Danny Boyle has spent most of his career proving that small is often beautiful, whether he's filming drug addicts in Edinburgh or virus-crazed zombies rampaging through London.
Sunday, February 22, 2009
Broadcast feeling pinch of lower ad spending
THE Oscars have lost some of their lustre this year - at least when it comes to advertising.
Saturday, February 21, 2009
Kirin to buy up to 49% of San Miguel Brewery
JAPAN'S No 2 brewer, Kirin Holdings, will buy up to 49 per cent of San Miguel Brewery, the beer-making arm of South-east Asia's biggest food and drinks firm, for US$1.4 billion.
Thursday, February 19, 2009
HP cuts sales forecast, salaries
(SAN FRANCISCO) Hewlett-Packard Co, the world's largest personal-computer maker, reported sales that missed analysts' estimates and reduced its sales forecast for the year. The company is cutting salaries starting this quarter.
Wednesday, February 18, 2009
Berkshire cuts stakes in J&J, P&G
(NEW YORK) Warren Buffett's Berkshire Hathaway Inc reduced holdings of Johnson & Johnson (J&J), the world's largest maker of healthcare products, and Procter & Gamble Co (P&G), the biggest consumer products company.
Tuesday, February 17, 2009
US auto industry must undergo broad restructuring: official
(WASHINGTON) The US auto industry must undergo a broad restructuring, requiring sacrifice on the part of auto workers, creditors, shareholders and the executives who run the companies, if it is to thrive again, White House senior adviser David Axelrod said on Sunday.
Friday, February 6, 2009
Deutsche posts 1st annual loss since WWII
GERMANY'S biggest lender, Deutsche Bank, on Thursday posted its first annual loss since World War II after a terrible fourth quarter but said it would survive the global meltdown without state aid.
Thursday, February 5, 2009
Madoff whistleblower lambasts regulator
(WASHINGTON) Harry Markopolos, a former investment manager who tried to warn US regulators about Bernard Madoff, joined lawmakers in blasting the Securities and Exchange Commission but said that he was forwarding more tips to the agency.
Wednesday, February 4, 2009
Tuesday, February 3, 2009
Models work at half-price as economic crisis deepens
(PARIS) Free designer dresses, an army of admirers and US$15,000 to stroll down a catwalk: no wonder thousands of teenage girls aspire to being a top model.
Sunday, February 1, 2009
Briefing
NORINCHUKIN Bank, the unlisted central bank for Japan's agricultural and fishery cooperatives, plans to increase its capital by as much as 2 trillion yen (S$33.75 billion) to make up for huge losses on investments, the Nikkei financial daily reported.
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