Temasek sells stake in bofa
According to the newspaper, Temasek lost an estimated $2 billion or more on investments it made in Merrill Lynch & Co. and bofa.
Archive for May, 2009
Small business financing still a tough sell
By Jon Cook Entrepreneurs looking covetously at the multi-billion dollar bailouts for banks and automakers should stop dreaming: securing funds for small businesses has always been and will continue to be tough.
Fiat autoworkers march in Turin, fearing shutdowns
Thousands of workers marched from the Mirafiori factory in the northern Italian city to near the headquarters, where union leaders gave speeches.
Buffett’s Berkshire Boosted Wells Fargo Stake as Shares Fell
By Erik Holm May 16 (Bloomberg) — Billionaire investor Warren Buffett’s Berkshire Hathaway Inc. added to holdings of lenders Wells Fargo & Co and US Bancorp in the first quarter as the shares traded at their lowest prices in more than a decade.
Government Money Is a Toxic Asset
By David Ignatius Remember those “toxic assets” that were clogging the financial system a few months ago? Well, despite all the billions in government bailout programs, they’re mostly still there.
US Stocks Slide As Energy Companies Pace S&P 500 Lower
By Peter A. mckay and Geoffrey Rogow US stocks pushed lower in choppy trading Friday, with data confirming that inflation isn’t yet picking up weighing on energy companies.
Court Issues Order Against 3 Car-Warranty Marketing Firms
By JENNIFER 8. LEE A federal court in Chicago issued a restraining order on Friday against three companies accused of aggressively making automated calls to sell car warranties across the country, the Federal Trade Commission announced.
Sony faces heavy losses, unsure of what to do to fix the problem
Suffering due to an extremely turbulent global economy, Sony has reported its first full-year annual loss in 14 years, also noting that the next fiscal year could keep the company in the red.
NYMEX-Crude ends down sharply on demand worries
* Wall Street down as bank, energy shares fall * Dollar up on global economic prospect worries NEW YORK, May 15 (Reuters) – US crude oil futures ended almost 4 percent lower on Friday amid demand worries following a pullback on Wall Street and as the …
Lawsuit accuses Costco of false imprisonment of workers
It says the warehouse club operator is breaking California labor law by routinely keeping employees from going home each night as managers remove jewelry from cases and check registers.