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Business News

Stock futures signal dip (Reuters)

Traders work on the floor of the New York Stock Exchange, January 6, 2009. U.S. stocks rose on Tuesday as strength in the tech sector, led by a second day of gains for Apple Inc , blunted concerns about weak data on factory orders and pending home sales. (Brendan McDermid/Reuters)Reuters - Stock futures pointed to a lower open on Wall Street on Wednesday, on mounting worries over the impact of the recession on companies after Alcoa Inc said it will slash more than 15,000 jobs as it reduces aluminum production.


Bank of America sells $2.8 billion China bank stake (Reuters)

A building is reflected in the window of a Bank Of America branch in New York, October 6, 2008. (Lucas Jackson/Reuters)Reuters - Top U.S. lender Bank of America , raising cash to weather a dismal market at home, sold a $2.83 billion chunk of its holding in China Construction Bank (0939.HK) on Wednesday, dragging the Chinese bank's stock 6 percent lower.


Dow Chemical prepared to delay Rohm & Haas deal: report (Reuters) Reuters - Dow Chemical Co is prepared to miss next week's deadline to clinch the $15 billion takeover of Rohm & Haas in an effort to raise enough cash to complete the deal without taking on too much debt, the Financial Times reported on its website late on Tuesday.Alcoa to slash jobs and sell 4 units (Reuters)

Alain Belda, chairman of Alcoa Inc. speaks to the media during a news conference in Montreal, Quebec, May 7, 2007. (Shaun Best/Reuters)Reuters - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.


GM says government loans cover worst scenario: report (Reuters)

A General Motors logo is seen at a car dealership in Toronto December 12, 2008. (Mike Cassese/Reuters)Reuters - General Motors Corp has adequate government loans pledged to cover the worst-case scenario it outlined in December to Congress and will not need more unless the economy worsens, a Bloomberg report said.