Economy

Deutsche Telekom boss Obermann resigns to end 2013
Deutsche Telekom says chief executive Rene Obermann will step down at the end of 2013 after seven years at the head of the company. The Bonn, ...
NYSE, ICE shares halted; sale talks reported
Shares of the company that runs the New York Stock Exchange and a rival exchange have been halted in premarket trading amid reports that one of the ...
Finland lowers economic growth forecasts
Finland expects economic contraction this year and little improvement in 2013 as the export-dependent country continues to suffer from reduced demand ...
Ericsson to take $1.2B hit for loss-making venture
Wireless equipment maker Ericsson says it will take a charge of 8 billion kronor ($1.2 billion) in the fourth quarter related to its loss-making joint ...
Peugeot, GM unveil joint-venture models
PSA Peugeot Citroen and GM have unveiled the first vehicles they will develop together as part of a joint venture they hope will reduce costs and ...
UK lawmakers slam pricy payoff to BBC chief
A group of British lawmakers is accusing the BBC of being cavalier with taxpayers' money by paying 450,000 pounds ($730,000) in severance to its ...
Aegon in strategic deal with Santander
Dutch-based insurer Aegon NV says it has entered a long-term deal with Banco Santander, Spain's largest financial group to distribute insurance ...
Strike looms at East and Gulf Coast ports
Weeks after a critical West Coast port complex was crippled by a few hundred striking workers, the East Coast is bracing for a possible walkout ...
Obama, Boehner clash as cliff edge approaches
Fiscal cliff talks at a partisan standoff, President Barack Obama and House Speaker John Boehner swapped barbed political charges on Wednesday yet ...
YPF, Chevron sign Argentina shale pact
Argentina's cash-strapped state energy company signed a partnership deal Wednesday with Chevron Corp. for a "massive development" of the South ...
Government prepares to sell General Motors stock
The U.S. government's short stint in the auto business is coming to an end. The Treasury Department said Wednesday that it will sell its remaining ...
FedEx says it can grow by cutting costs
FedEx may be pessimistic about the U.S. economy, but it's confident about growing its earnings. The world's second-largest package delivery company, ...
Training under way for new nuclear plant operators
Utility companies are preparing a new wave of workers to run first-of-their-kind nuclear plants, a process certain to influence how workers are ...
Getco buying Knight Capital in $1.4B deal
Nearly five months after a major software malfunction at Knight Capital roiled financial markets, the trading firm has agreed to sell itself to a ...
Facebook rejects German demand to allow fake names
Facebook will fight a German privacy watchdog's demand to allow users to register with fake names, insisting Tuesday that its current practice fully ...
US housing starts slowed to 861K in November
U.S. builders broke ground on fewer homes in November after starting work in October at the fastest pace in four years. Superstorm Sandy likely slowed ...
UBS to pay $1.5 billion over rate-rigging scandal
Swiss bank UBS agreed Wednesday to pay $1.5 billion in fines for trying to manipulate a key interest rate that affects borrowers around the world.
Czech parliament approves austerity measures
The Czech Republic's lower house of parliament has approved unpopular austerity measures that had threatened to cause the downfall of the center-right ...
Italian judge convicts 4 foreign banks of fraud
An Italian judge has found four international banks guilty of fraud in a case involving the sale of derivatives to the city of Milan and ordered the ...
Dictator father looms over SKorea's new president
When Park Geun-hye last lived in the presidential Blue House more than 30 years ago, she was a young, stand-in first lady, serving after the ...
France wants to split banks' trading, lending ops
France's government proposed a bill Wednesday that would split banks' risky trading activities from their more traditional lending operations as part ...
Developments in scandal at BBC over Savile
The BBC has published an internal review into the decision to shelve an investigation by its "Newsnight" program into allegations that its late host ...
Cyprus halts drilling talks with Total-Novatek
Cyprus has broken off licensing negotiations for offshore natural gas drilling with a consortium made up of French firm Total S.A. and Russia's ...
ECB restores use of Greek bonds as collateral
The European Central Bank says it will once again accept Greek government bonds as collateral for loans to banks. The move is important because ...
Oil rises as German business confidence improves
The price of oil rose past $88 a barrel Wednesday as a key measure of German business optimism showed a slight improvement and a report suggested a ...