Fed Claims recovery as World Wide collapse continues

Deutsche Telekom to cut 3,000 jobs

German Telecom giant Deutsche Telekom will cut around 3,000 jobs in Germany at its IT subsidiary T-Systems by 2010, the company said on Wednesday following talks with union representatives.


SAS says quarterly net loss widens

Beleaguered Scandinavian carrier SAS reported Wednesday a widening net loss for the second quarter of 1.04 billion kronor (143 million dollars, 101 million euros), and said it would cut...


BHP Billiton profit falls 30%

The world's biggest miner BHP Billiton on Wednesday announced annual net profit fell 30.2 percent to 10.72 billion US dollars, ending a seven-year run of record results. Profit was down...


ING results down 96.3 per cent

Dutch banking and insurance group ING on Wednesday reported a 71 million euro net profit for the second quarter against a net profit of 1.95 billion euros during the same period of last...


Norwegian towns sue Citigroup over subprime loss

Seven Norwegian towns, some clustered around the Arctic Circle, have sued US banking giant Citigroup for more than 200 million dollars of losses plus damages linked to the sub-prime...


Adecco plunges into loss

Adecco, the world's biggest temporary staffing agency, reported on Tuesday a 169-percent plunge in second-quarter earnings to a record a loss of 147 million euros (208 million dollars) for...


Kaiser Permanente to cut more than 1,800 jobs in California

One of the state's largest employers, healthcare giant Kaiser Permanente, said it would eliminate more than 1,800 positions as it struggles with drooping membership, uncertain healthcare reform and shriveling Medicare reimbursement rates.


Macy's profit falls; company raises outlook


NEW YORK -- Macy's Inc. posted a lower second-quarter profit today as the department store chain's results were weighed down by costs for consolidations and store closings.