SAN FRANCISCO/NEW YORK (Reuters) - Microsoft Corp offered to buy Yahoo Inc for $44.6 billion, in a bold bid to transform two ailing Internet businesses into a worthy competitor for market leader Google Inc.
WASHINGTON (Reuters) - U.S. employers cut payrolls for the first time in 4-1/2 years in January, the Labor Department said on Friday in a report that showed the slowing economy was at growing risk of sliding into recession.
NEW YORK (Reuters) - Exxon Mobil Corp said on Friday record oil prices propelled its quarterly and yearly profits to the highest-ever levels by a U.S. company.
LONDON (Reuters) - Egg, the Internet bank owned by Citigroup , will withdraw credit cards from 161,000 customers following a risk review, a spokesman for Egg said on Saturday.
NEW YORK (Reuters) - A group of large banks has joined together to find ways to shore up Ambac Financial Group Inc , a large bond insurer battered by the global credit crunch, two people briefed on the talks said on Friday.
BOSTON (Reuters) - Fidelity Investments, the world's biggest mutual fund firm, has made a second round of layoffs due to the ongoing restructuring at the group and axed about 250 jobs, a spokeswoman said on Friday.
HONG KONG (Reuters) - Whoever first thought of boiling investment decisions down to a simple trade-off between "risk and reward" should try fathoming the world's two most populous markets.
NEW YORK (Reuters) - Billionaire investor Carl Icahn has quietly amassed a large stake in department store operator J.C. Penney Co Inc , The Wall Street Journal reported on Friday, citing people familiar with the matter.
NEW YORK (Reuters) - Fears of a looming recession could batter U.S. stocks next week as investors weigh a dim earnings outlook for 2008 against a view that holds shares are cheap as seen by Microsoft's $44.6 billion bid for Yahoo.
NEW YORK (Reuters) - Stocks rose on Friday, capping Wall Street's best week in almost five years, after Microsoft Corp's $44.6 billion bid for Yahoo Inc overshadowed news that employers cut payrolls for the first time since 2003.
