November 21, 2008, 10:24 pm MST | login | register

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Reuters Business News — Reuters Business news, articles and insight from a major news source.

Payrolls fall again, raising recession fears

WASHINGTON (Reuters) - Employers unexpectedly cut jobs in February at the steepest rate in nearly five years, a second straight month of employment losses that heightened fears the world's largest economy has skidded into recession.

Nasdaq bounces on biotech; S&P trims losses

NEW YORK (Reuters) - The Nasdaq briefly turned higher on Friday as a short-covering bounce in the shares of biotechnology companies and computer makers tempered some worries about recession.

Subprime CEOs face grilling

WASHINGTON (Reuters) - The stunning pay packages of executives at financial groups hammered by the U.S. mortgage crisis came in for stinging criticism from Democratic lawmakers and investor advocates at a congressional hearing on Friday.

Boeing gets U.S. briefing on tanker decision

WASHINGTON (Reuters) - The U.S. Air Force spelled out to Boeing Co on Friday why it lost a $35 billion jet-refueling deal to a team including archrival Airbus of Europe, a possible prelude to a formal Boeing challenge.

Fewer U.S. companies planning big job cuts survey

NEW YORK (Reuters) - Fewer U.S. companies are planning large-scale job cuts in response to a slowing economy than in past downturns, according to an upcoming survey of human resources executives by the Towers Perrin consultancy.

Thornburg survival at stake after big margin calls

NEW YORK (Reuters) - Thornburg Mortgage Inc , which provides loans to help people buy expensive homes, said on Friday its survival is at stake because it cannot meet its own lenders' demands for $610 million of cash or collateral.

Fed boosts auction size in surprise action

WASHINGTON (Reuters) - The Federal Reserve on Friday announced emergency measures to add $200 billion into the banking system in a bid to ease persistent liquidity strains that are leading to a global credit freeze.

Oil ends down, eases off record above $106 a barrel

NEW YORK (Reuters) - Oil ended slightly lower on Friday, falling from record highs hit earlier when buying by speculators hedging against the weaker dollar and inflation sent prices above $106 a barrel.

Delphi says GM help "only path" to financing

NEW YORK (Reuters) - A plan by General Motors Corp to provide additional loans to auto parts maker Delphi Corp is key to the company's ability to secure financing and does not violate the terms of its bankruptcy emergence plan, a lawyer for Delphi argued in court on Friday.

Ambac raises $1.5 billion to help save credit rating

NEW YORK (Reuters) - Ambac Financial Group Inc said on Friday it sold $1.5 billion of shares and convertible debt, helping to protect the bond insurer from rating downgrades but not satisfying some analysts who wanted it to raise more.