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ROCHESTER–Eastman Kodak Co. said Thursday it is cutting 3,500 to 4,500 jobs, or 14 per cent to 18 per cent of its work force, as it posted a $137 million fourth-quarter loss on plunging sales of both digital and film-based photography products.
The photography products pioneer said its loss in the October-December period amounted […]
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Pfizer announced Monday that it has signed a deal to acquire the smaller drugmaker Wyeth for $68 billion, and tens of thousands of job cuts will follow.
New York-based Pfizer, already the world’s leading drugmaker, becomes even larger following the cash-and-stock deal with Wyeth, based in Madison, N.J.
The deal values Wyeth shares at $50.19 […]
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The U.S. dollar gained against the pound but fell against the euro and yen Thursday as investors were confronted with grim data from the housing and labor markets.
The euro gained 0.08% to $1.3011 from $1.2974 late Wednesday.
The pound fell 0.54% to $1.3876 from $1.3948 late Wednesday.
Against the yen, the greenback slipped 0.52% […]
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Credit insurers are looking closer than ever at bank support when covering company risk, and some credit experts see them as indicators of when businesses will likely land in financial trouble.
Credit insurers cover the risk that a company is unable to pay its suppliers. When they pull out, suppliers are likely to demand cash […]
Bank of America Corp, posted its first quarterly loss in 17 years on Friday and slashed its dividend, hours after winning a multibillion-dollar lifeline from the U.S. government to help absorb Merrill Lynch, which lost a record $15.31 billion in the quarter.
The dismal results came as the largest U.S. bank faced mounting pressure from […]
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The U.S. trade deficit narrowed in November by the most in 12 years as tumbling oil prices and slumping consumer spending cut imports.
The gap shrank 29 percent, more than forecast, to $40.4 billion, the Commerce Department said today in Washington. A record 12 percent drop in imports propelled the improvement. Exports fell for […]
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German manufacturingorders extended their worst decline on record in November and exports dropped by a record, pushing Europe’s largest economy toward its worst recession since the aftermath of WWII.
Orders, adjusted for seasonal swings and inflation, fell 6 percent from October, the Economy Ministry in Berlin said today. That’s after drops of 6.3 percent […]
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Swiss manufacturing contracted for a fourth month in December as stalling global growth hurt demand.
The SVME purchasing managers’ index rose to 36.9 from 35.2 in November, Credit Suisse Group AG said today. A reading below 50 signifies contraction. Economists expected the index to drop to 35.0, the median of 11 forecasts in a […]
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