As Pressure Mounts, BP’s Shares Slide Further

Shares of BP continued to slide Thursday as the company tried to reassure investors that it had the financial flexibility to handle the growing costs of the oil spill in the Gulf of Mexico. In London, business leaders urged the British government to defend BP against mounting political pressure from Washington where lawmakers have called [...]

Stimulus Talk Yields to Calls to Cut Deficits

At a moment when many economists warn that the American economic recovery is likely to be imperiled by prolonged high unemployment and slow growth, President Obama is discovering that the tools available to him last year — a big economic stimulus and action by the Federal Reserve — are both now politically untenable. The mood [...]

A.I.G. Rejects Lower Bid From Prudential for Sale of Asia Unit

American International Group refused Tuesday to lower the $35.5 billion price tag on its Asian operations, casting major doubt over the planned sale of the unit to the British insurer Prudential. The rejection deals a major setback to Prudential’s ambitions to become a dominant player in a market with huge growth potential. It could also [...]

Prudential Aims to Reduce Its Offer for A.I.G. Asian Unit

Prudential, the British insurance giant that is seeking to buy the Asian life insurance unit of American International Group, said on Friday that it was talking to the U.S. insurance giant about reducing the $35.5 billion price tag of the transaction in a bid to secure the necessary shareholder support at a vote next month. [...]

First-Quarter U.S. Growth Revised Slightly Lower

Economic growth last quarter turned out to be slower than first thought, one reason unemployment is likely to stay stubbornly high this year. The government said the economy grew at a 3 percent annual rate from January through March as consumers and businesses spent slightly less than first estimated. That was weaker than an initial [...]

Europe Pain May Impede U.S. Upturn

Only months after most economists forecast that the recession could be viewed safely through the rearview mirror, the European fiscal crisis poses an unsettling new challenge for the United States economy. Few economists predict the United States will pitch into another recession soon. But a still weakened American economy could be slowed by its wounded [...]

Wall Street Tumbles Along With Europe and Asia

A sense of foreboding in global markets seemed to deepen on Tuesday. Shares on all three continents skidded Tuesday and the euro resumed its fall, as reports that North Korea had threatened its southern neighbor jolted nerves already frayed by concerns about public sector finances in Europe. In early trading on Wall Street, the Dow [...]

I.B.M. Buys Business Software Unit From AT&T

I.B.M. said Monday that it is buying AT&T’s Sterling Commerce unit, which makes software that helps businesses buy and sell to each other, for $1.4 billion. The deal would be I.B.M.’s largest acquisition since it bought business software maker Cognos in 2008. Sterling runs “collaboration networks” where companies can interact with vendors. It has 18,000 [...]

From the Mall to the Docks, Signs of Rebound

The docks are humming again at this sprawling Pacific port, with clouds of golden dust billowing off the piles of grain spilling into the bellies of giant tankers. “Things are looking up,” said Dan Broadie, a longshoreman. No longer killing time at the union hall while waiting for work, instead he is guiding a mechanized [...]

Chrysler Lost $4 Billion but Sees Signs of Improvement

Chrysler said Wednesday that it had lost $4 billion since emerging from bankruptcy protection almost a year ago. But it also reported positive cash flow and a small operating profit in the first quarter of 2010. The results are the first official look at the U.S. automaker’s finances since it came out of bankruptcy June [...]

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