Member 1450


UBS to cut 5,500 jobs, has BlackRock debt deal (Reuters)

06-05-2008 15h38
Reuters - UBS AG will cut 5,500 jobs or almost 7 percent of its workforce as Europe's biggest subprime casualty reverses a rapid expansion into investment banking.

U.S. crude oil sets new record above $120 a barrel (Reuters)

06-05-2008 17h11
Reuters - U.S. crude oil futures rose to a new record high for a second day on Tuesday, with crude oil futures for June delivery touching a record of $120.70 a barrel.

Yahoo CEO says still open to Microsoft talks (Reuters)

06-05-2008 18h07
Reuters - Yahoo Inc chief Jerry Yang was set to meet staff on Tuesday after signaling a more open stance towards a takeover by Microsoft Corp.

S.Africa's MTN shares surge on Bharti bid talks (Reuters)

06-05-2008 17h57
Reuters - Shares in South African telecoms operator MTN Group jumped 10 percent on Tuesday after India's Bharti Airtel said it was considering a potential multi-billion dollar takeover.

Bernanke: High foreclosure rates hurt broad economy (Reuters)

06-05-2008 09h32
Reuters - Federal Reserve Chairman Ben Bernanke on Monday said conditions in mortgage markets remain strained, posing a threat to the economy, and urged steps be taken to prevent home foreclosure where possible.

Interest rates, market turmoil to hit Australian economy: surveys (AFP)

06-05-2008 14h12
AFP - Australian executives are braced for a sharp economic downturn later this year due to the global credit crunch and high domestic interest rates, two surveys released on Tuesday showed.

Wall Street looks for more evidence to justify a rally (AP)

05-05-2008 03h19
AP - Wall Street goes into the new week in an upbeat mood, with investors growing more confident that the economy and the financial markets are heading toward a second-half recovery.

Prosecutors in NY form subprime task force (Reuters)

06-05-2008 04h22
Reuters - Federal prosecutors in New York have formed a task force together with other government agencies to examine the collapse of the market for risky home loans, a spokesman for the U.S. Attorney's Office in Brooklyn said on Monday.

Wal-Mart expands low-price drug program; Target follows (AP)

06-05-2008 11h02
AP - Wal-Mart Stores Inc., the world's largest retailer, announced Monday it would expand its discounted prescription drug program to offer 90-day supplies for $10 and add several women's medications at a discount. It also said it would lower the price of more than 1,000 over-the-counter drugs.
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