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Reuters: Business News
  • Citi, Morgan Stanley in brokerage talks; Rubin quits
    NEW YORK (Reuters) - Citigroup Inc is in advanced talks to sell its Smith Barney brokerage unit to Morgan Stanley, a person familiar with the matter said on Friday, in a move that would further dismantle the financial supermarket that has been bailed out by the U.S. government.
  • Jobless rate at 16-year high as payrolls plunge
    WASHINGTON (Reuters) - The unemployment rate surged to the highest in nearly 16 years last month as a deepening year-long recession forced companies to axe more than half a million jobs, government data showed on Friday.
  • Wall Street falls on job woe, Citi
    NEW YORK (Reuters) - Stocks fell on Friday after government data showed the labor market deteriorated further in December, raising investor concerns about the outlook for profits, spending and a deepening recession.
  • MGM Mirage to take $1.2 billion writedown on Mandalay
    NEW YORK (Reuters) - MGM Mirage said on Friday it would write down the value of the Mandalay Resort Group, the casino company it bought in 2005 for about $5 billion.
  • Detroit hosts auto show against bleak backdrop
    DETROIT (Reuters) - Automakers will introduce glossy cars and new hybrids at the Detroit Auto Show, but with General Motors Corp and Chrysler LLC still teetering on the edge of failure and industry sales expected to worsen, the lure of shiny new sheet metal may not be what it was in the past.

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