Bleak payrolls report mauls Wall St; volume thin
(Reuters: Thu, 02 Jul) Stocks tumbled on Thursday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic recovery prospects. |
U.S. job losses spike in June, dampen recovery hopes
(Reuters: Thu, 02 Jul) U.S. employers cut far more jobs than expected last month and the unemployment rate hit 9.5 percent, the highest in nearly 26 years, underscoring the likelihood of a long, slow recovery from recession. |
J&J buys $1 billion Elan stake, gains Alzheimer's R&D
(Reuters: Thu, 02 Jul) Johnson & Johnson has agreed to pay $1 billion for an 18.4 percent stake in Irish drugmaker Elan Corp , and will acquire a major stake in Elan's portfolio of experimental drugs to treat Alzheimer's disease. |
Fate of GM in hands of bankruptcy judge
(Reuters: Thu, 02 Jul) A federal bankruptcy judge will decide the immediate fate of General Motors Corp's effort to quickly sell its best assets to a group funded by the U.S. government, after a three-day court hearing concluded on Thursday. |
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Magna board set to approve Opel plans: sources
(Reuters: Thu, 02 Jul) Magna's (MGa.TO) board of directors is scheduled to approve on Tuesday a business plan for the acquisition of German carmaker Opel, two sources familiar with the matter said on Thursday. |
AIG to sell consumer finance unit in Colombia
(AP: Wed, 01 Jul) American International Group Inc. on Wednesday said it agreed to sell all of its ownership interests in its consumer finance operations in Colombia, the latest in a recent string of asset sales by the embattled insurer to bolster its finances. |
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