NEW YORK - American International Group Inc disclosed potential losses in its derivatives portfolio, raising fears it would become the latest casualty of the credit crisis and pushing its shares down almost 12 percent to a 5-year low.
NEW YORK - A merger between Delta Air Lines Inc and Northwest Airlines Corp could be announced in the next few weeks as Northwest pilots review details of a proposed deal, people briefed on the situation has said on Monday.
TORONTO - E-mail service of Research In Motion’s BlackBerry smartphones experienced a “critical severity outage” on Monday, the company told clients in an e-mail.
NEW YORK - Loews Corp has said on Monday fourth-quarter profit fell 31 percent, hurt by subprime investment losses and weaker-than-expected results in its insurance, tobacco and drilling businesses.
NEW YORK - Stocks rose on Monday, rebounding from the worst weekly loss in five years, as bargain-hunting and takeover talk sparked gains in the technology sector and higher oil prices lifted energy stocks.
CARACAS - Venezuela has moved oil revenue into Swiss banks to avoid a possible seizure of funds by Exxon Mobil in a legal battle that pits leftist anti-United States President Hugo Chavez against America’s largegest company.
LOS ANGELES - Nelson Peltz’s Trian Partners has said on Monday it is attempting to gain control of the board of directors at hamburger chain Wendy’s International Inc , which it is attempting to purchase.
PHILADELPHIA - Investment bank JPMorgan Chase & Co. has said on Monday that Dennis Hersch, global chairman of mergers and acquisitions, left the company.