Troubled financial giants getting cash infusions from the U.S. Federal Reserve owe their executives more than $40 billion for past year's pay and pensions as of the end of 2007, the Wall Street Journal said in an analysis. The sums owed are mostly for special executive pensions and deferred compensation, including bonuses, for prior years,
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European stocks fell in midmorning trade on Friday, snapping a three-day rally, as HSBC and Barclays led banks lower, while BT Group dived after warning it would miss earnings forecasts. At 1122 GMT, the FTSEurofirst 300 index of leading European companies was down 0.9 percent at 895.82 points after gaining 0.7 percent in the previous
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The recent financial crisis could have a negative impact on Intel Corp's business, results of operations and financial condition, the technology bellwether said in a regulatory filing. "There could be a number of follow-on effects from the credit crisis on Intel's business, including insolvency of key suppliers resulting in product delays," the company said in
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Oil fell more than $2 to below $64 a barrel on Friday and in line with other markets was on track to post its biggest monthly fall yet. The slide followed weak U.S. economic data that provided the latest indication of sharply reduced demand for fuel from the world's biggest energy consumer. U.S. light crude
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Hedge funds are relying too heavily on their open-plan office arrangements to overhear and prevent illegal trading activities, Britain's financial watchdog has warned. Following its latest programme of visits to assess UK-based hedge funds' controls for monitoring staff trading activity and preventing market abuse, the Financial Services Authority said there is "scope for improvement". In
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British bank Barclays Plc is raising 7.3 billion pounds ($12.1 billion) from investors from Qatar, Abu Dhabi and elsewhere to allow it to avoid taking UK government rescue cash, it said on Friday. The fundraising is being made through a range of complex capital instruments, which could see Middle East investors owning about one third
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Japan cut interest rates for the first time in seven years on Friday, expecting severe stress in the global economy to persist, while UK banking giant Barclays said it was raising $12 billion in capital. Interbank lending rates fell sharply, suggesting that the moves taken by central banks and others to remove blockages in the
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Britain's blue-chip share index shed 1.9 percent by midday on Friday to end a three-day rally, weighed down by banks and telcommuications firms. At 1158 GMT, the FTSE 100 was down 80.14 points to 4,211.51. The index has gained 8.3 percent this week and is on track for its best weekly rise since September 2001.
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Sony Corp said five PC makers including Hewlett-Packard Co and Toshiba Corp will recall 100,000 computer battery packs made by the Japanese electronics maker due to a fire hazard. Sony said the recall is expected to have limited impact on its earnings, and its shares outperformed a falling Tokyo stock market on Friday. The recall
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Japanese video game maker Nintendo Co Ltd will likely launch a new model of its top-selling handheld player, the DS, in overseas markets by the summer of 2009, President Satoru Iwata said. Nintendo will start selling the DSi, which can take pictures, play music and is slimmer than the current model, in Japan on Saturday
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