Collapsed maker of classic china and crystal said it had reached a tentative agreement with U.S. private equity firm KPS Capital Partners over the sale of many of the company's assets.
Merchants confirmed fears that the holiday season was the weakest in four decades, with even Wal-Mart Stores Inc. finally buckling under the deteriorating economy.
Initial applications for unemployment insurance dropped by 24,000 though the number of people continuing to claim jobless benefits jumped unexpectedly by 101,000 to 4.61 million.
Automaker said Thursday it is negotiating with its workers in Japan to slash salaries as it stops production to adjust to slumping global demand.
World's No. 2 drugmaker is moving to expand its vaccine business in the key U.S. market by opening an East Coast vaccine factory, with production targeted to begin in April.
Layoffs, mostly in its specialty chemicals product lines, will eliminate about 10 percent of Cytec's headcount; the cost-cutting move is expected to save $85 million a year by the end of 2009.
Japanese automaker said Thursday it will slash its British workforce by 1,200 as it lowers production in anticipation of a grim economic year.
Government of this small oil-rich state is confident it will not have to pay a $2.5 billion penalty for withdrawing from a $17.4 billion joint-venture with U.S. giant Dow Chemical Co.
New York judge gave LyondellBasell Industries approval to borrow over $2 billion after a subsidiary filed for Chapter 11 bankruptcy protection earlier this week.
Challenges faced by the United States will start to be felt more keenly in Canada during the first three months of this year; about 80 percent of Canada’s trade is with the U.S.
Computer maker said it will lay off about 11 percent of its work force, as part of a plan aimed at helping it remain competitive amid the global economic downturn.
Auto executives across the globe are increasingly pessimistic about their industry, and only a small number expect their companies' profits to rise in the next five years.
Japanese electronics component maker said Thursday it would cut 8,000 workers and post its biggest net loss ever this fiscal year, due to falling orders and a stronger yen.
U.S. computer maker said it will slash 1,900 workers from its Irish work force and shift its European manufacturing operations to Poland.
Mitsubishi Motors will slash more than 2,000 temporary jobs in Japan by the end of March as the country's fourth largest automaker struggles with a severe slump in sales worldwide.
German automaker reached a record as vehicle sales rose 4.3 percent from the previous year despite the global financial crisis and a tough U.S. market.
Organizers of Detroit's annual auto show have carved out space in the convention center basement for a 700-foot-long oval driving track to showcase zero emissions vehicles.
Due to Buick’s popularity in China, General Motors’ design team there is trying to reinvigorate the brand with its 2010 LaCrosse luxury sedan.
Analysts say Chrysler probably won't survive the year as an independent company -- despite $4 billion in government loans and the possibility of more.
Europe's biggest economy saw its sharpest monthly drop in exports in November since the country's reunification in 1990, official estimates showed Thursday.