Archive RSS Feed: Reuters Business News

Treasury near subprime aid deal

WASHINGTON (Reuters) - The Treasury Department and mortgage industry leaders are putting the final touches on a plan that could save struggling homeowners from foreclosure by freezing interest rates before they reset sharply higher.

Lennar forms venture with Morgan Stanley Real Estate

NEW YORK (Reuters) - Builder Lennar Corp said on Friday it formed an investment venture with Morgan Stanley Real Estate and sold the venture $525 million in properties.

Citi sees strong growth in Taiwan business in 2008

TAIPEI (Reuters) - Citigroup said on Saturday it sees strong growth in its Taiwan banking business in 2008 after it completed a $427 million acquisition of a local lender.

Alaska gets 5 applications for natural gas

ANCHORAGE, Alaska (Reuters) - Five companies, partnerships and entities have submitted proposals to build a massive pipeline from Alaska's North Slope to bring the region's vast but long-languishing natural gas reserves to markets thousands of miles away, state officials announced late on Friday.

Starbucks plans 2nd farm support center in Rwanda

KIGALI (Reuters) - Starbucks Corp said on Saturday

Godiva recalls X'mas chocolates in Europe and Asia

HONG KONG (Reuters) - Godiva Chocolatier is recalling Christmas chocolates in Asia and Europe after metal fragments were found in some of its products in Japan, an executive from the company said on Saturday.

November auto sales weak

DETROIT (Reuters) - US auto sales slipped in November, led by an 11 percent drop at General Motors Corp , as a weak housing market and higher gasoline prices kept buyers from showrooms and heightened concern that the industry was headed for a deepening downturn.

Countrywide CEO says bankruptcy not an option

NEW YORK (Reuters) - Countrywide Financial Corp Chief Executive Angelo Mozilo said on Monday he doesn't expect the largest US mortgage lender to file for bankruptcy protection, saying the "elements are certainly not there."

Motorola technology chief leaves

NEW YORK (Reuters) - Mobile phone maker Motorola Inc , which announced last week that Chief Executive Ed Zander will step down, said on Monday its chief technology officer, Padmasree Warrior, had left the company to pursue other opportunities.

Cold temps, calendar seen aiding November retail sales

NEW YORK (Reuters) - Retailers should report improved monthly sales on Thursday helped by November's cooler weather and the Thanksgiving holiday shopping weekend.