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Business News for Saturday May 26, 2012
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NEW YORK -- Can China save General Motors? As the automaker attempts to end five years of losses, that is a key question for both its long-term outlook and taxpayers. The ability of the Treasury Department to recover the $50 billion in funds given to GM as part of its bailout will depend on the company returning to a strong, consistent level of profitability. China passed the United States in .. more
LONDON -- Kraft reached a $19 billion deal Tuesday to buy Cadbury, finally succeeding in its takeover of the 200-year-old British candy maker after sweetening its offer. Cadbury's board said it was unanimously recommending the bid to shareholders. The cash-and-stock offer values each Cadbury share at 840 pence, or about $13.72. Shareholders will also be entitled to a 10 pence dividend per shar.. more
NEW YORK -- U.S. stocks were headed for a lackluster start Tuesday as investors returned from a long weekend to focus on quarterly financial results from a slew of major banks. Dow Jones industrial average, S&P-500 and Nasdaq-100 futures were slightly lower. Futures measure current index values against their perceived future performance and offer an indication of how markets may open when tradin.. more
The Civic GX runs on clean-burning natural gas, a fact that helped it earn the top spot among 2010 model year vehicles in the American Council for an Energy Efficient Economy's annual "Greenest Cars" list.By Peter Valdes-Dapena, CNNMoney.com senior writer NEXT: Toyota Prius Last updated January 19 2010: 5:50 AM ET.. more
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NEW YORK -- Ohio State University is No. 1 again, but not in football or basketball. For the second year in a row, the school's president was the highest paid public university executive in the United States, according to a study published Monday. The Chronicle of Higher Education said E. Gordon Gee, Ohio State's president, took home $1.6 million last year, up from $1.3 million in 2008. Mark E.. more
NEW YORK -- The nation's biggest banks cut their collective small business lending balance by another $1 billion in November, according to a Treasury report released late Friday. The drop marked the seventh straight month of declines. The 22 banks that got the most help from the Treasury's bailout programs have cut their small business loan balances $12.5 billion since April, when the Treasury b.. more
NEW YORK -- Chrysler Group is recalling about 24,000 late-model Chrysler, Dodge and Jeep vehicles to fix a defective part that could cause sudden, unexpected brake failure. The recall applies to some 2010 model year Chrysler Sebring and Dodge Avenger sedans; Dodge Nitro, Jeep Liberty, Jeep Commander and Grand Cherokee SUVs; and 2009 and 2010 model year Ram trucks. Some of these vehicles could .. more
NEW YORK -- A counterfeit version of the over-the-counter weight-loss product Alli being marketed online could be harmful to dieters, the U.S. Food and Drug Administration warned Monday. The FDA said the counterfeit Alli was sold in 60 mg capsules as part of a 120 count refill kit. GlaxoSmithKline, which makes the approved version of Alli, said tests showed the falsely packaged and labeled pro.. more
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