LAS VEGAS - Billionaire casino developer Steve Wynn criticized former Chinese leader Mao Zedong yesterday, telling more than a thousand investment advisers at a conference that the communist revolutionary's "imbecilic" Cultural Revolution "almost...
Office Depot Inc., the world's second-largest office supplies chain, fell the most in more than seven years in trading because it may have provided misleading information about its income. The retailer's audit committee is investigating whether...
THE impending exit of Merrill Lynch CEO Stan O'Neal might have thrown a big monkey wrench into the investment bank's almost-completed deal to move uptown to Vornado's Pennsylvania Hotel site. "The front-line players are in a state of shock,"...
As Wall Street awaits word of who will replace soon-to-be ousted Merrill Lynch CEO Stan O'Neal in the wake of record losses at the investment bank, one name can already be crossed off the list: NYSE Euronext chief John Thain. Sources said the...
AOL and MTV Networks are unveiling new services that will allow consumers to search for and view the lyrics to popular songs. The initiatives are the latest examples of music publishers cashing in on song lyrics by licensing the words to popular...
Verizon Communications reported third-quarter profit and sales that beat analysts' estimates after winning mobile-phone customers from Sprint Nextel Corp. Sales climbed 5.8 percent to $23.8 billion, exceeding the $23.7 billion average of estimates...
Ali up Alibaba.com raised $1.5 billion in the second-big gest Internet IPO after Google, sources said. In vestors sought more than 180 times the num ber of shares on offer, according to reports. Yahoo!, which has about a 40 percent stake in parent...
The Supreme Court rejected an appeal by Martin Armstrong, the former money manager who was jailed a record seven years for defying a judge's order to produce $14.9 million in gold bars, coins and other assets. The justices, without comment, let...
For Wall Street, Halloween is tilting heavily toward trick and away from treat as the bond departments of two brokerages announced layoffs yesterday. Jimmy Cayne's Bear Stearns told employees that "approximately" 300 were being fired yesterday...
CNN has news bureaus around the world, but there is one place it has yet to venture: Cyberspace. That will change in November, when the news organization plans to open an outpost in Second Life, an interactive virtual world where users create...
THE last time the Federal Re serve cut borrowing costs, the interest rate on home mortgages went up. Huh! I'll say it again. When the Fed attempted to rescue the housing industry in August by cutting its funds rate and reducing the discount...
Bill Lerach, the securities lawyer who helped recover $7.2 billion for Enron investors, pleaded guilty to secretly paying clients of his former firm, Milberg Weiss, to file shareholder lawsuits. Lerach, 61, admitted to one count of conspiracy at a...
New York-based Somerset Partners LLC paid $509 million for 450 Park Ave., the most ever paid for a U.S. office tower on a per-square-foot basis. The closely held private equity firm paid about $1,566 a square foot for the 325,000 square-foot tower...
Swiss banking giant UBS is expected to drop its mortgage loss bombshell today, but in a more toned-down manner than other Wall Street banks. Maintaining its reserved tradition, Europe's biggest bank acknowledged yesterday that it might disclose a...
