Ambac Financial Group Inc, the bond insurer that lost 93 percent of its stock market value in the past year, posted a wider loss than analysts estimated after $3.1 billion in charges for subprime-mortgage securities.
Samsung Group Chairman Lee Kun-hee will step down after being charged with tax evasion and breach of duty, ending his two-decade reign over South Korea's largest industrial group.
Lee Kun-hee, who resigned yesterday as chairman of the scandal-tainted Samsung group, lives a reclusive existence, but his occasional pronouncements on business reverberated throughout South Korea.
Chief Executive Officer Jeffrey Immelt said he will resist calls to shrink General Electric Co beyond an existing plan that includes reducing the company's consumer businesses in slowing economies.
Biocon Ltd, India's largest biotechnology firm, said yesterday fourth-quarter net profit rose 7.6 percent as demand for drugs and research services offset the impact of a stronger rupee.
Rupert Murdoch's effort to turn his $580 million MySpace purchase into an advertising powerhouse has turned News Corp into a toxic stock.
Jaguar and Land Rover's Chief Executive Geoff Polites, who is credited with steering the storied British luxury brands through the ongoing sale process to India's Tata Motors Ltd, has died. He was 60.
Kuehne & Nagel International AG, the world's largest sea-freight forwarder, said first-quarter profit rose 19 percent as air and maritime shipments increased.
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