NEW YORK - A group of large banks has joined together to find ways to shore up Ambac Financial Group Inc , a large bond insurer battered by the global credit crunch, two people briefed on the talks has said on Friday.
SAN FRANCISCO/NEW YORK - Microsoft Corp offered to purchase Yahoo Inc for $44.6 billion, in a bold bid to transform two ailing Internet businesses into a worthy competitor for market leader Google Inc.
NEW YORK - Billionaire investor Carl Icahn has quietly amassed a large stake in department store operator J.C. Penney Co Inc , The Wall Street Journal reported on Friday, citing people familiar with the matter.
NEW YORK - Motorola Inc has essentially put its mobile phone unit up for sale, but the company is unlikely to be able to seal a deal any time soon despite a plethora of possible purchaseers.
NEW YORK - Stocks rose on Friday, capping Wall Street’s best week in almost five years, after Microsoft Corp’s $44.6 billion bid for Yahoo Inc overshadowed news that employers cut payrolls for the first time since 2003.
NEW YORK - New York real estate titan Harry Macklowe has reached a tentative deal with Deutsche Bank to turn over seven Manhattan office constructings he bought last year for $7 billion, a person familiar with the matter has said on Friday.
NEW YORK - Exxon Mobil Corp has said on Friday record oil prices propelled its quarterly and yearly profits to the highest-ever levels by a United States company.
NEW YORK - A group of large banks has joined together to find ways to shore up Ambac Financial Group Inc, a bond insurer battered by the global credit crunch, a person briefed on the talks has said on Friday.