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A report commissioned by BAE Systems PLC found Tuesday that the arms company failed to pay sufficient attention to ethical standards, leaving itself open to misconduct accusations of that have tarnished its reputation. The review, which began after accusations that BAE made multimillion pound payments to help win a deal from Saudi Arabia, recommended that the company implement tougher anti-bribery.. more

When Yahoo Inc. holds its annual meeting July 3, expect fireworks from irate shareholders seeking retribution for the company's decision to remain independent instead of accepting a $47.5 billion takeover offer from Microsoft Corp. The first signs of outrage flared Monday as Yahoo's stock plunged 15 percent in reaction to Microsoft withdrawal of its sweetened $33-per-share bid and two lawyers alre.. more

Rice-exporting nations planned to discuss a proposed cartel to control the price of the staple food Tuesday, a day after a regional development bank called for sharper fiscal policies to help a billion poor people in Asia cope with skyrocketing food prices. Underscoring the fallout from price rises that have sparked food riots in Haiti, Egypt and Somalia, the Asian Development Bank said its growth.. more

Swiss bank UBS reported a net loss Tuesday of 11.5 billion Swiss francs ($10.97 billion) for the first quarter of this year and announced 5,500 job cuts. This compares with a net profit of 3 billion francs in the same period last year. The bank warned investors last month to expect net losses of 12 billion Swiss francs ($11.42 billion) for the first three months of the year after writing down abo.. more

The Philippine government failed to buy rice Monday after a tender to increase its buffer stock attracted only one bidder, highlighting global anxiety over the staple. The National Food Authority, the state-run grain importer, was seeking to buy 675,000 tons of rice to shore up its stockpiles. The government said last week it has already secured enough volume to make up for a 10 percent domestic .. more

A group of Asian nations have agreed to create a pool of at least US$80 billion (worth about euro52 billion) for addressing short-term liquidity difficulties. Finance ministers of the Association of Southeast Asian Nations plus Three -- Japan, South Korea and China -- said in a statement Sunday that the region faces risks amid turmoil in international foreign exchange markets as well as oil and co.. more

Yahoo Chief Executive Jerry Yang is convinced that the company he started in a Silicon Valley trailer 14 years ago is worth more than the $47.5 billion that Microsoft had offered for the Internet pioneer. Now he may only have a few months to convince Wall Street that his rebuff of Microsoft's takeover bid was a smart move -- and if he can't, analysts won't be surprised if Yang is either replaced a.. more

Drivers have long known that slowing down on the highway means getting more miles to the gallon. Now airlines are trying it, too -- adding a few minutes to flights to save millions on fuel. Southwest Airlines started flying slower about two months ago, and projects it will save $42 million in fuel this year by extending each flight by one to three minutes. On one Northwest Airlines flight from Pa.. more

U.S. employers cut far fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent, a better-than-expected showing that nonetheless still revealed strains in the nation's crucial labor market. For the fourth month in a row, the economy lost jobs, the Labor Department reported Friday. But in April the losses totaled 20,000, an improvement from the 81,000 reductions in .. more

China's food exports to Japan, a key market, plunged 30 percent in February, hurt by a scare over poisoned Chinese-made dumplings, according to data reported Friday. Japan is the third-largest market for Chinese exporters of fish, dumplings and other processed food, and the drop in sales is a severe blow to the fast-growing industry. China's food exports to Japan in February totaled 186,000 tons.. more