China offers Africa more trade, investment

By CHRISTOPHER BODEEN

China is offering to abolish import duties on some commodities from Africa and make sure Chinese exports to the continent are safe as part of a package to boost already thriving economic ties, China's commerce minister said in an article published Saturday.

Nov 07, 2009 | 5:45 am

South Korean workers protest gov't labor policy

Tens of thousands of South Korean workers rallied Saturday to protest the government's plan to begin implementing contentious labor laws.

Nov 07, 2009 | 4:40 am

Nature’s Sunshine settles securities fraud charges for $6M

Grace Leong - Daily Herald

A three-year-long class action lawsuit alleging insider trading and securities fraud by several top executives of Nature's Sunshine Products Inc. was settled for $6 million, company officials announced Friday.

Nov 07, 2009 | 12:20 am | Loading…

What recovery? Unemployment shoots past 10 percent

Jeannine Aversa and Christopher S. Rugaber - The Associated Press

WASHINGTON -- Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously thought.

Nov 07, 2009 | 12:05 am | Loading…

You’ve seen the TV ads. So what is Ally Bank?

Candice Choi - The Associated Press

NEW YORK -- Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.

Nov 07, 2009 | 12:05 am | Loading…

Obama signs bill assisting homebuyers, unemployed

Jim Abrams - The Associated Press

WASHINGTON -- President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.

Nov 07, 2009 | 12:05 am | Loading…

Business Briefing 11/7

The Associated Press

Stocks post modest gains as job losses slow

Nov 07, 2009 | 12:05 am | Loading…

Banks in Ga., Mich., Minn., Mo., Calif. closed

By IEVA M. AUGSTUMS and MARCY GORDON

Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans.

Nov 06, 2009 | 8:10 pm

Berkshire Hathaway says 3Q profit triples to $3.2B

By JOSH FUNK

Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said Friday that many of its other operating businesses struggled.

Nov 06, 2009 | 6:30 pm

Oil settles lower after US unemployment report

By CHRIS KAHN

Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.

Nov 06, 2009 | 5:40 pm

Consumer borrowing drops $14.8B in September

By MARTIN CRUTSINGER

Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions. Economists worry the declines in borrowing will drag on the fledgling recovery.

Nov 06, 2009 | 5:40 pm

Freddie Mac loses $6.3B in 3Q

By ALAN ZIBEL

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.

Nov 06, 2009 | 5:35 pm

What recovery? Unemployment shoots past 10 percent

By JEANNINE AVERSA and CHRISTOPHER S. RUGABER

Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously thought.

Nov 06, 2009 | 4:40 pm

Stocks post modest gains as job losses slow

By SARA LEPRO and TIM PARADIS

Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher Friday.

Nov 06, 2009 | 4:10 pm

GM says Europe chief Forster to leave post

By TOM KRISHER and GEORGE FREY

Carl-Peter Forster, the chief executive of General Motors Europe who runs its struggling Opel unit, will leave the company, GM said Friday.

Nov 06, 2009 | 1:05 pm

AIG posts 2nd consecutive quarterly profit

By STEPHEN BERNARD

AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.

Nov 06, 2009 | 12:55 pm

Wholesale inventories fall, sales grow in Sept.

By MARTIN CRUTSINGER

Businesses cut inventories at the wholesale level for a record 13th consecutive month in September, but sales rose for a sixth straight time.

Nov 06, 2009 | 8:15 am

Report: Fla. investment agency under investigation

The Florida agency that manages $132 billion in pension and local government investments is under investigation by the Securities and Exchange Commission.

Nov 06, 2009 | 5:25 am

British Airways posts H1 loss of $346 million

By ROBERT BARR

British Airways PLC on Friday reported a net loss of 208 million pounds ($346 million) in the six months ending in September as the global economic downturn continued to take its toll on revenues.

Nov 06, 2009 | 4:35 am