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Business with Reuters - International Herald Tribune
Business news from The International Herald Tribune, the world's daily newspaper online.
- U.S. loses 533,000 jobs; worst month since 1974
With the U.S. economy deteriorating rapidly, employers shed 533,000 jobs in November, the 11th consecutive monthly decline, and the unemployment rate rose to 6.7 percent, the government reported. - Stocks rally sharply despite heavy losses of jobs
The market moved higher in the afternoon, led by financial stocks, as Wall Street looked past the worst job losses since 1974. - After a closer look, the job numbers are even worse
The official Labor Department numbers don't count hundreds of thousands of people who have stopped even looking for a job. - HSBC chief slams Asian governments for hurting healthy banks
He argued that the government guarantees amounted to inappropriate assistance to weak banks at the risk of imposing costly burdens on taxpayers. - Bankers, risk and warnings unheeded
The myth, as expounded by bankers, is that we were hit by a perfect storm so unpredictable that we could not possibly be held accountable for it. - Thousands more lose investment bank jobs
Credit Suisse announced plans to cut 5,300 jobs, or 11 percent of its global work force; Nomura, which acquired Lehman Brothers' European business, said it planned 1,000 job reductions at its London office; and Commerzbank in Frankfurt planned to cut 1,200. - Big issues unresolved in Paulson's China trip
For the U.S. Treasury secretary, dialogue with Chinese officials produced modest achievements, including pledges by both to spend $20 billion to help finance trade in developing countries. - Stocks rally sharply despite heavy losses of jobs
The market moved higher in the afternoon, led by financial stocks, as Wall Street looked past the worst job losses since 1974. - Reserve Fund gives investors a difficult choice
They can be patient and maybe get back 98.5 cents for each dollar they had in the money market fund or wage legal battles against the fund and risk having the company use their own money to defend itself. - Weak commodity prices take toll on European shares
Stocks fell, extending this week's decline, as a slump in commodity prices sent metal and energy producers lower and concern deepened the global economy is worsening - Senior U.S. Democrat sees 'disaster' if auto industry fails
The chief executives of the Big Three automakers returned to Capitol Hill on Friday in an air of deepening crisis. - Pent-up anger greets return of U.S. auto chiefs to Capitol Hill
The Detroit automakers confronted the harsh politics of an economic downturn and the realization that there might not be the votes to save them. - Is Chrysler simply looking for a mate?
Senator Bob Corker of Tennessee said that the company's parent was more interested in finding a merger partner than building a viable automaker for the long term. - Lufthansa clears hurdle in bid for Austria Airlines
The Austrian government said it would sell its stake in its flag carrier in a deal that would make Lufthansa the biggest airline in Europe. - Central banks cut rates in struggle to spark economy
The magnitude of the ECB's efforts has made clear that it is worried about a downturn that is becoming broader and deeper. - Honda withdraws from Formula One racing
The pullout has its origins in the dismal state of the auto industry and will likely have huge repercussions on the high-profile racing circuit. - Ifo survey shows corporate Germany suffering
Further highlighting the German economy's woes, the luxury carmaker BMW said its global sales plunged by a quarter in November. - Factory output sags in Germany
German manufacturing orders plunged in October after a record decline the previous month, a report showed Friday. - German coupon idea to stimulate economy finds few takers
The plan, introduced by Karl Lauterbach of the Social Democrats, would get a €500 voucher, or Gutschein, in the hands of every adult. - For Iceland, an exodus of workers
About half of citizens aged 18 to 24 are said to be considering leaving Iceland as it suffers a deepening financial crisis. - Trader blamed for loss at Société Générale is denied permission to confront chairman
The judges leading the investigation decided that arranging a meeting between Jérôme Kerviel and Daniel Bouton would not add anything new. - Investors win $141 million in suit against Bank of America
A unit of the banking giant was accused of fraud in selling low-value asset-backed securities. - Legal fight with Deutsche Bank offers glimpse into Trump's dealings
Donald Trump says condominium sales at his new project were great until the Chicago real estate market collapsed, and bankers made it worse by "creating the current financial crisis." Now he's trying to avoid repaying a $40 million loan from Deutsche Bank. - Rolling the dice on 3-D films
Against the backdrop of diving corporate results and rampant corporate greed, there are a few things that make Jeffrey Katzenberg, chief of DreamWorks Animation SKG, stand out. - U.S. loses 533,000 jobs; worst month since 1974
With the U.S. economy deteriorating rapidly, employers shed 533,000 jobs in November, the 11th consecutive monthly decline, and the unemployment rate rose to 6.7 percent, the government reported. - Stocks rally sharply despite heavy losses of jobs
The market moved higher in the afternoon, led by financial stocks, as Wall Street looked past the worst job losses since 1974. - After a closer look, the job numbers are even worse
The official Labor Department numbers don't count hundreds of thousands of people who have stopped even looking for a job. - HSBC chief slams Asian governments for hurting healthy banks
He argued that the government guarantees amounted to inappropriate assistance to weak banks at the risk of imposing costly burdens on taxpayers. - Bankers, risk and warnings unheeded
The myth, as expounded by bankers, is that we were hit by a perfect storm so unpredictable that we could not possibly be held accountable for it. - Thousands more lose investment bank jobs
Credit Suisse announced plans to cut 5,300 jobs, or 11 percent of its global work force; Nomura, which acquired Lehman Brothers' European business, said it planned 1,000 job reductions at its London office; and Commerzbank in Frankfurt planned to cut 1,200. - Big issues unresolved in Paulson's China trip
For the U.S. Treasury secretary, dialogue with Chinese officials produced modest achievements, including pledges by both to spend $20 billion to help finance trade in developing countries. - Stocks rally sharply despite heavy losses of jobs
The market moved higher in the afternoon, led by financial stocks, as Wall Street looked past the worst job losses s