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Bear Stearns Hedge Fund Managers May Face Indictments
Federal prosecutors, capping a yearlong investigation, are preparing to file criminal charges against managers of two Bear Stearns Cos. (NYSE:BSC) hedge funds whose collapse helped mark the start of the credit crisis.
AIG Ousts Sullivan, Taps Willumstad As Losses Mount
The board of struggling insurance titan American International Group Inc. (NYSE:AIG) forced out its chief executive and replaced him with its chairman, Robert Willumstad, betting that Mr. Willumstad’s long experience at financial giant Citigroup Inc. (NYSE:C) will aid in turning around AIG’s own complex and sprawling empire.
FCC Staff Back XM-Sirius Merger
The staff of the Federal Communications Commission has proposed that the agency approve the merger of XM Satellite Radio Holdings Inc. (NASDAQ:XMSR) and Sirius Satellite Radio Inc., (NASDAQ:SIRI) setting the stage for a final vote on the multibillion-dollar deal in as little as three weeks if the companies meet several conditions.
Futures Edge Higher Ahead of Lehman Results
U.S. stock futures nudged higher on Monday, as investors awaited the opportunity to pore over an expected $2.8 billion loss from Lehman Brothers Holdings (NYSE:LEH) and react to American International Group (NYSE:AIG) ousting Martin Sullivan as chief executive.
Lawsuits Accuse EADS of Insider Trading
U.S. tort lawyers are taking up a challenge that French prosecutors and stock-market regulators have been grappling with for almost two years: Proving that executives and core shareholders of Airbus parent European Aeronautic Defence & Space Co. knowingly traded on insider information, and weren’t simply bad managers.
Graphics Chips May Play Outside Games
Two rival chip makers are about to deliver the next advance in technology to improve the realism of videogames. But this time their efforts could have a broader impact.
Sony Series Will Start on Web, Go to DVD
Sony Corp. (NYSE:SNE) will launch its new show “Angel of Death” on the Web, but it is using an approach that it hopes will drive sales of DVDs and boost other distribution avenues down the road.
Barclays Gains Most in 16 Years, May Sell New Shares
Barclays Plc (LON:BARC) rose the most in 16 years in London trading after the bank eased concerns that a stock sale will hurt current shareholders and reported earnings last month were better than a year ago.
Corn Jumps to Record as Floods in Midwest Threaten U.S. Crops
Corn climbed to a record near $8 a bushel as storms pounded crops in the U.S., the largest producer and exporter, and caused what may be the worst flooding in the Midwest since 1993.
European Inflation Accelerates to Highest in 16 Years
European inflation accelerated to the highest in 16 years last month as food and energy costs soared, intensifying what finance ministers from the world’s richest nations said is becoming a”more complicated” dilemma.
‘Futon Money’ Buoys Japan as Inflation Spurs `Buy Now’ Mindset
Glassware and porcelain sales shot up more than 30 percent last month at the downtown Tokyo housewares store Kenji Wako manages.
Microsoft-Yahoo! Is Only Mostly Dead
Pundits have now written the obituary for the Microsoft (NASDAQ:MSFT) -Yahoo! (NASDAQ:YHOO) merger. But is it really dead forever?
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