Financial news on May 10, 2008
Business and Financial news
Retailers are pushing consumers to spend their windfall, but some offers require hundreds of dollars. Read more..
Mr. Ellis led the venerable family-owned publishing house John Wiley & Sons back to fiscal health in the 1990s after a period of misdirected expansion. Read more..
The electronics chain’s move is a shift from its initial, highly skeptical stance toward Blockbuster’s unsolicited takeover bid. Read more..
At Vikram Pandit’s first major presentation to investors and analysts, Citigroup said that it planned to sell about $400 billion in assets in the next two to three years. Read more..
Now that public opinion is solidifying around the idea that the Federal Reserve has made its last rate cut for a while, stocks may be poised atop a slope of complacency. Read more..
The billionaire investor started a cash tender offer on Friday to bolster his stake in Ford to 5.6 percent, but stopped short of revealing his long-term plans as a major shareholder. Read more..
The blogosphere is full of tales of homeowners who supposedly are choosing to mail the house keys to their lenders rather than keep their depreciating homes, but this remains a rare occurrence. Read more..
Fremont General, once a major subprime lender, may go bankrupt and wipe out shareholders because it will not have enough time or cash to complete the sale of its retail banking business. Read more..
While banks say they have been tightening credit standards for more than a year, the growth rate of commercial and industrial loans is still growing faster than at any time in recent years. Read more..
Howard Socol, the chief executive of Barneys New York, is said to disagree sharply with the new owners of the chain over its strategy. Read more..