Business News

Wall Street firms have started to hire again and they can cherry-pick talent from their competitors -- who may be worried about their own security -- or from the legions of professionals who found themselves out

Lehman Brothers Holdings Inc, the U.S. investment bank whose September 2008 collapse sharply accelerated a world financial meltdown, said on Wednesday it expects to have a reorganization plan outline ready by the end of March 2010.

Hundreds of U.S. banks are likely to raise capital in the coming months to deal with losses from bad consumer loans, commercial real estate and other assets, and to build war chests to buy failing rivals.

Chinese Premier Wen Jiabao told U.S. President Barack Obama in a meeting on Wednesday that China wants to balance its trade relationship with the United States and does not seek a surplus.

An end to the world's longest-running trade dispute, involving bananas, is in sight and could lead to lower prices for shoppers, according to a draft settlement seen by the Financial Times.

A Chinese court has ruled that Microsoft infringed a Chinese software maker's intellectual property rights in a surprise decision that has renewed concerns about China's management of IPR disputes, the Financial Times reported on Wednesday.

Breaking up the biggest U.S. banks is not a practical solution to addressing the "too big to fail" problem, former Merrill Lynch Chief Executive John Thain said on Tuesday.

The following are highlights from a Senate
Foreign Relations Committee hearing on Tuesday on "Remaking the International

U.S. carmaker General Motors could cut between 9,000 and 10,000 jobs as part of its restructuring of its European operations, Nick Reilly, interim head of GM's European business, said on Tuesday.

U.S. carmaker General Motors could cut between 9,000 and 10,000 jobs as part of a restructuring of its European operations, Nick Reilly, interim head of GM's European business, said on Tuesday.

U.S. President Barack Obama urged a reluctant China on Thursday to let its yuan currency rise in value at a summit where strains over trade between the two giants crept into proclamations of goodwill.

U.S. President Barack Obama held much-anticipated talks with his Chinese counterpart Hu Jintao on Tuesday, with trade friction, the yuan currency and diplomatic headaches such as Iran and North Korea high on the agenda.

Reuters - U.S. President Barack Obama on Tuesday nudged Chinese President Hu Jintao to allow the yuan currency to appreciate at a landmark summit in Beijing.

A "mass exodus" of talent from bailed out firms would prompt U.S. pay czar to revisit the formulas he has used in his rulings, Kenneth Feinberg said on Monday.

U.S. retail sales grew more than expected last month as vehicle purchases bounced back, but non-auto sales rose modestly, suggesting consumers remained too cautious to drive a robust economic recovery.

U.S. pay czar Kenneth Feinberg said on Monday that he will revisit the assumptions he used when determining the compensation at bailed-out firms if there is a "mass exodus" of talent.

Airbus faces continued production hiccups on its A380 superjumbo but is making progress in ramping up output, Chief Executive Tom Enders said.

A stronger Chinese yuan is part of the reforms that Beijing needs to implement to increase domestic consumption and help ease global imbalances, the head of the International Monetary Fund said on Monday.

A stronger Chinese yuan is part of the reforms that Beijing needs to implement to increase domestic consumption and help ease global imbalances, the head of the International Monetary Fund said on Monday.

China on Monday made a fresh, thinly veiled criticism of the United States for running lax monetary and fiscal policies that risk undermining the dollar.