AP NEW YORK – Investors turned cautious again Monday as a staggering $61.7 billion in quarterly losses at insurer American International Group Inc. touched off fresh worries about the health of the nation’s financial system. […]
CLEVELAND – Goodyear Tire & Rubber Co., the biggest U.S. tire maker, said Wednesday the global economic slowdown will force it to cut nearly 5,000 jobs this year after it posted a fourth-quarter loss and […]
DETROIT – General Motors Corp. and Chrysler LLC, racing to finish restructuring plans to present to the federal government, are unlikely to complete deals with debtholders and union workers by the government-imposed deadline on Tuesday. […]
NEW YORK – General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled automaker continues to slash costs. GM spokesman Tony Sapienza said the buyouts will […]
WASHINGTON – Consumer spending fell for a record sixth straight month in December as recession-battered households, worried about surging layoffs, boosted their savings rates to the highest level since May. Economists expect consumer spending, which […]
WASHINGTON – It’s already been a lousy year for workers less than a month into 2009 and there’s no relief in sight. Tens of thousands of fresh layoffs were announced Monday and more companies are […]
Associated Press REDMOND, Wash. – Microsoft says it will slash 5,000 jobs over the next 18 months as it reported an 11 percent drop in second-quarter profit. The software giant said Thursday the moves were […]
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