Business Update

Microsoft elevates server unit, promotes Muglia

CNET News.com - Business Tech — Mon, 05 Jan 2009 23:47:18 +0000

Longtime Server and Tools unit head Bob Muglia is now president of the company's server unit.

Investors collect profits after last week’s rally (AP)

admin — Mon, 05 Jan 2009 23:05:45 +0000

AP - Caution returned to Wall Street Monday as investors gave back some gains from last week's rally even as they found encouragement from President-elect Barack Obama's calls for an economic stimulus package.

Congressmen sound off against SEC in Madoff affair (AP)

admin — Mon, 05 Jan 2009 22:51:10 +0000

AP - Republican and Democratic House members said Monday that the alleged $50 billion fraud involving Wall Street figure Bernard Madoff reflects deep, systemic problems at the Securities and Exchange Commission.

Fed buys MBS in latest unconventional move (Reuters)

admin — Mon, 05 Jan 2009 22:21:54 +0000

Reuters - The Federal Reserve on Monday kick-started its latest unconventional program to boost the moribund economy, this time taking aim at the heart of the slumping housing market.

U.S., Germany mull tax cuts (Reuters)

admin — Mon, 05 Jan 2009 22:21:44 +0000

Reuters - The prospect of new tax cuts in the United States and Germany injected a measure of New Year cheer on Monday, even as automakers wrapped up 2008 as their worst in more than 15 years with yet another month of slumping U.S. sales.

GE’s finance arm launches $10 billion FDIC-backed debt (Reuters)

admin — Mon, 05 Jan 2009 21:53:18 +0000

Reuters - General Electric Co's finance arm on Monday launched a $10 billion sale of FDIC-backed debt, the largest sale under the government guarantee program since its inception last November.

U.S. seeks to revoke Madoff bail (Reuters)

admin — Mon, 05 Jan 2009 21:53:14 +0000

Reuters - U.S. prosecutors asked a judge to revoke the bail terms for alleged swindler Bernard Madoff and detain him on Monday, claiming he was a flight risk.

Apple, Tyson, Barnes & Noble are big movers (AP)

admin — Mon, 05 Jan 2009 21:46:54 +0000

AP - Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:

Stocks slip on telecom and financials; Apple jumps (Reuters)

admin — Mon, 05 Jan 2009 21:34:12 +0000

Reuters - Stocks fell on Monday as investors booked profits after last week's run-up, while concerns about slowing cell phone sales hit shares of the biggest telecommunications companies.

Car sales plunge, heralding bleak 2009 (Reuters)

admin — Mon, 05 Jan 2009 21:16:11 +0000

Reuters - Major automakers reported U.S. sales in December that plunged by more than a third, closing out the weakest year for the battered industry in over a decade and a half in its largest single market.