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Business News |
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FT.com - US homepage
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FT.com - US homepage
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Citi's $2.5bn loss less than feared
Citigroup capped a wild week for US equity markets, unveiling $7.2bn of writedowns and a smaller-than-expected loss that prompted investors to return to financial stocks as despair again gave way to relief
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Threat of 'no-fun' Olympics
Just three weeks before the Beijing games, concerns are growing that sweeping security measures could suck all the fun out of the world's biggest sportsfest
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Iraqis divided on pull-out plan
As Barack Obama prepares to visit Iraq, people across the country and politicians are divided over the presumptive Democratic nominee's plan to withdraw US troops in 16 months if be becomes president
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Freddie and Fannie rescue hopes grow
Richard Shelby, the powerful Republican senator, said that the US Treasury department's plan to rescue Fannie Mae and Freddie Mac could be approved by Congress within two weeks, in a sign that opposition to the proposal on Capitol Hill is waning
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Facebook sues 'knock-off' German site
Facebook filed a copyright lawsuit against StudiVZ, a German company that it has accused of running a "knock-off" of the social networking website
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US builders forced to sell off holdings
Demand for new homes on the outskirts of US towns has fallen spectacularly in the last three years, while foreclosures and speculative building have created a far greater supply of homes than there are buyers
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CME sweetens bid for Nymex by $113m
CME Group, the world's largest futures exchange, sweetened its bid to take over Nymex by $113m, focusing its efforts on winning over members of the New York energy exchange while keeping its offer to shareholders unchanged
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MTN quits Reliance talks
South Africa's MTN walked away from a potential combination with India's Reliance Communications on Friday, scuppering the creation of an emerging market telecoms giant and damaging the standing of corporate India
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Legg Mason to back Yahoo's board
Yahoo won an important supporter in its fight against activist investor Carl Icahn as Bill Miller, Legg Mason's chief investment officer, said he expected to back the existing board at the company's annual meeting on August 1
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Teva to buy Barr for $7.5bn
Acquisition will boost Israeli group's position as the largest seller of off-patent medicines
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