A-B InBev OKs freeze on job cuts in Belgium

The world’s biggest brewer, Anheuser-Busch InBev SA, said Thursday that it has agreed to freeze planned job cuts in Belgium to get workers to drop a two-week brewery blockade causing beer shortages at supermarkets and bars.
The company and Belgian trade unions said they struck a deal that postpones the brewer’s plans to […]

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Yahoo sides with Google over China cyber attack

Yahoo Inc. gave its support to rival Google Inc. Wednesday, denouncing an alleged cyber attack originating in China against Google’s network infrastructure.
"We condemn any attempts to infiltrate company networks to obtain user information," a Yahoo representative said in an e-mail statement. "We stand aligned with Google that these kinds of attacks are deeply disturbing […]

Treasury Said to Link Citigroup Sale to TARP Payback

The U.S. Treasury Department aims to hold off on selling its 34 percent stake in Citigroup Inc. until the bank and regulators agree on a broader plan to repay all obligations remaining from last year’s $45 billion government bailout, a person close to the department said.
Treasury officials are concerned that a sale now […]

Commercial property weighs on banks: Fed official

U.S. banks continue to face significant challenges, particularly from rising delinquencies in commercial real estate and commercial loans, a Federal Reserve official said on Monday.
“Credit losses at banking organizations continue to rise, and banks face risks of sizable additional credit losses given the outlook for production and employment,” said Jon Greenlee, associate director of […]

Utility generates earnings

Ontario Power Generation Inc. had a $259 million profit in its latest quarter, although the provincial Crown corporation continued to feel the impact of reduced demand for electricity.
The profit for the three months ended Sept. 30 was an improvement on the $142 million net loss for the same period of 2008.
However, OPG said […]

Kraft results to start Cadbury countdown

The clock will really start ticking on a deal to create the world’s biggest confectioner once Kraft Foods Inc reports earnings next week.
Kraft made its $16.5 billion cash and stock offer for British chocolatier Cadbury on September 7. Kraft Chief Executive Irene Rosenfeld has since held back on further moves and her waiting game […]

FDIC bank fund in the red until 2012

The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.
Testifying before members of the Senate Banking Committee, the nation’s top commercial bank regulator stressed that her agency was taking immediate steps to replenish the dwindling fund. But […]

Life after Lewis: What’s next for BofA?

The exit of Bank of America chief executive officer Ken Lewis may silence some of his staunchest critics, but his departure is raising more questions than answers about the fate of the nation’s largest bank.
Chief among them is who would take the reins for Lewis when he officially departs the firm at the end […]

China can’t keep feeding global economy

The gathering of 20 leaders of leading economies in Pittsburgh late last week was a historic turning point. It marked the first discussion about the growing and perilous imbalance between mature and emerging economies.
This imbalance is unsustainable. And the quest to bring nations into "alignment," for lack of a more user-friendly term, will define […]

Where to find the fattest paychecks

Maryland is the nation’s top-earning state for the third year in a row, with a median household income of $70,545 in 2008, according to a U.S. Census Bureau report released Monday.
The states with highest median incomes are concentrated in the far West and in the Northeast, around the District of Columbia.
Most of […]