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GM Weighs More Layoffs, Sale of Brands
DETROIT — Bruised by a deep sales slump and a half-century-low in its stock price, General Motors Corp. (NYSE:GM) is preparing to cut thousands more white-collar jobs and is considering whether it should sell or shutter more of its brands, people familiar with the matter said.
Stock Futures Point to Flat Open As Profit Concerns Offset Oil’s Fall
U.S. stock futures pointed to a lackluster start Monday, as concern about coming corporate earnings offset easing oil prices and a stronger dollar.
Bear Trap Opens For Resource Stocks
Sooner or later in a bear market, even the glory stocks start to come apart.
Oil Prices Slip as Dollar Strengthens
LONDON – Crude-oil futures traded lower in London Monday as participants took profits after last week’s rally to record highs.
InBev Seeks to Oust Anheuser-Busch Board
BRUSSELS — Belgian-Brazilian brewer (EBR:INB) InBev raised the pressure on top managers at Anheuser-Busch Companies Inc.’s (NYSE:BUD) Monday by moving to oust the U.S. brewer’s board.
Merrill May Sell Bloomberg Stake, Some of BlackRock
Merrill Lynch & Co. (NYSE:MER) is moving closer to selling stakes in financial firm BlackRock Inc. (NYSE:BLK)and information provider Bloomberg LP, as the Wall Street firm scrambles to raise cash to make up for $6 billion in coming write-downs, say people familiar with the matter.
Cnooc Unit To Buy Awilco For $2.5 Billion
HONG KONG — China’s top offshore oil firm is diving into the global oilfield-services industry by launching a $2.5 billion friendly takeover of a Norwegian rival.
Deutsche, UBS Fight History Forecasting Best SP 500 Since 1982
July 7 (Bloomberg) — Deutsche Bank AG, (FRA:DBK) Lehman Brothers Holdings Inc. (NYSE:LEH) and UBS AG (NYSE:UBS) say the Standard & Poor’s 500 Index will gain the most in 26 years during this year’s second half. That isn’t going to happen, if history is any guide.
GLG Hires Goldman Sachs Proprietary Trader Driss Ben-Brahim
July 7 (Bloomberg) — GLG Partners Inc., (NYSE:GLG) the hedge-fund firm run by Noam Gottesman and Emmanuel Roman, hired Driss Ben- Brahim from Goldman Sachs Group Inc. (NYSE:GS) to develop and run funds.
Dollar Advances on Speculation G-8 Leaders to Support Currency
July 7 (Bloomberg) — The dollar rose against the euro and the yen on speculation leaders of the Group of Eight nations will signal support for the U.S. currency following a meeting starting today.
NYSE Euronext Liffe to Guarantee Credit-Default Swaps
July 7 (Bloomberg) — NYSE Euronext’s (NYSE:NYX) Liffe derivatives market will offer to guarantee credit-default swaps traded outside of exchanges, as the industry responds to demands from regulators to reduce the risk of market failure.
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