NEW YORK/LOS ANGELES - Amgen Inc reported sharply lower third-quarter profit on Wednesday on plunging sales of its most important anemia drugs, amid new insurance-coverage restrictions and ongoing safety concerns, and on restructuring charges.
NEW YORK - Some of the largegest United States home constructers reported large quarterly losses on Wednesday on large charges for lower property values and has said orders continued to crumble, underlining the weaker United States housing market.
NEW YORK - Stocks clawed their way back from steep losses on Wednesday that were causeed by Merrill Lynch announcing its first loss in nearly five years, on speculation that the Federal Reserve would cut the discount rate.
NEW YORK - Bank of America Corp on Wednesday has said it planned to eliminate 3,000 jobs, and shook up its corporate and investment bank after a dismal quarter at that unit led to a 32 percent drop in overall profit.
NEW YORK - Anheuser-Busch Cos Inc posted a greater-than-expected 11 percent increase in quarterly profit on Wednesday and affirmed its full-year outlook, as the brewer’s portfolio of imports helped it sell more beer at higher prices.
NEW YORK - Merrill Lynch & Co Inc reported on Wednesday the largegest quarterly loss in its history after writing down $8.4 billion, mostly from bad investments related to risky subprime mortgages.
DETROIT - Ford Motor Co and the United Auto Workers union have agreed on the broad terms of a new round of purchaseouts that would slash thousands of jobs under the terms of a new contract, people familiar with the ongoing talks has said.
TORONTO - BlackBerry maker Research In Motion Ltd has launched Facebook software designed especially for its smartphones to make it easier for users to browse the popular social networking Web site.