Dozens of the world’s wealthiest lost billions in recent months, but these 10 distinguish themselves for some of the biggest flops.
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After a decade of highs and lows, Europe’s single currency is going strong.
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Read full story for latest details.
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The chemical company has postponed the deadline to repay $160m in fees to lenders and is in talks with lenders about restructuring debt obligations
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Israeli warplanes attacked government buildings in the Gaza Strip early on New Year’s Day after Israel and its Islamist Hamas foe both spurned ceasefire calls in a conflict that has killed about 400 Palestinians
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In the face of criticism that its bailout efforts are not working, federal officials said Wednesday that they have prevented widespread failure of financial institutions, but they conceded that the credit crisis won’t ease until the economy recovers.
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The ugly sales year that was 2008 will haunt U.S. retailers in 2009, with industry experts warning that disastrous holiday sales will spark a domino effect of store closures and bankruptcy filings.
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General Motors got the first $4 billion of a series of emergency loans from the U.S. Treasury Wednesday, but fellow struggling automaker Chrysler was still waiting as the new year rapidly approached.
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The media/entertainment company threatened to pull programming to Time Warner Cable customers unless it gets fee increases.
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Russia looked set to cut gas supplies to Ukraine after talks over a deal broke down on Wednesday. The company now looks likely to reduce supplies on January 1 as promised
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Citigroup’s top executives, and Robert Rubin, a director and senior adviser, will forgo their 2008 bonuses amid internal and external pressure to atone for the company’s huge losses and a $300bn government bail-out
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The price of oil jumped Wednesday, capping a volatile year with a swing of $7 from the session low to the close, as investors responded to news of a possible supply disruption in Europe.
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Baffled consumers are griping about a mysterious glitch that appeared to cause thousands of Zune MP3 music players to simultaneously stop working late Tuesday and early Wednesday.
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If the story of 2008 was the government’s unprecedented multi-trillion dollar bailouts of the financial sector, then the credit market was the story behind the story.
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Popular cable television channels such as MTV and Comedy Central could go dark in millions of homes across the US as licensing fee talks between Viacom and Time Warner Cable falter and Viacom threatens a programming blackout
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After a shockingly tumultuous year, Citigroup said Wednesday its top executives will forego their usual annual bonus.
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GMAC, the financial services affiliate of General Motors that is receiving up to $6bn in federal aid, will cut its debt through a much-publicised debt swap, although participation in the exchange fell short of the company’s target
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The worst annual performance for US stocks since the Great Depression ended with a modest rally on the final day of trading as the Federal Reserve pushed ahead with its plan to buy mortgage-backed securities
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As one of the worst years in Wall Street’s history winds down, a notable group of standouts shows investors remained confident in companies that provided consumers with the most bang for their buck.
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Despite a last-minute rush by shoppers looking to take advantage of deep discounts during the Christmas week, sales during the holiday retail season are looking even weaker than expected, according to a retail research firm’s preliminary report issued Wednesday.
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The Russian energy company is poised to cut off the gas supply to Kiev as disagreements regarding debt repayment and pricing persist.
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Stocks rallied Wednesday afternoon, as investors breathed a sigh of relief that an abysmal year is over.
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New figures predict growth will tumble in 2009, and a stimulus plan may be needed.
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The ugly sales year that was 2008 will haunt U.S. retailers in 2009, with industry experts warning that disastrous holiday sales will spark a domino effect of store closures and bankruptcy filings.
More: continued here
In the face of criticism that its bailout efforts are not working, federal officials said Wednesday that they have prevented widespread failure of financial institutions, but they conceded that the credit crisis won’t ease until the economy recovers.
More: continued here
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