Merrill’s Brokerage Head Departs After Bank of America Purchase
bloomberg.com — By Josh Fineman and David Mildenberg Jan. 6 (Bloomberg) -- Merrill Lynch & Co. brokerage head Bob McCann announced plans to leave the company less than a week after Bank of America Corp......More… (Business)
German Billionaire Merckle Dies
online.wsj.com — FRANKFURT -- German investor Adolf Merckle has died after reportedly being hit by a train near Ulm, Germany, according to Die Welt newspaper......More… (Business)
Logitech to Slash Jobs Withdraws Financial Targets
bloomberg.com — By Andrea Tan and Allan Lopez Jan. 6 (Bloomberg) -- Logitech International SA, the world’s biggest maker of computer mice, withdrew its fiscal 2009 financial targets and said it will cut 15 percent of its salaried workforce because of the deepening ........More… (Business)
Microsofts Muglia Makes Comeback
online.wsj.com — By NICK WINGFIELD and ROBERT A. GUTH In a comeback that highlights one of Microsoft Corp.'s fastest-growing businesses, Bob Muglia -- who seven years ago was demoted -- is entering an elite tier of executives at the software company......More… (Business)
Tough 09 Is Seen for Commercial Real Estate
washingtonpost.com — By Dana Hedgpeth This year will be among the worst for the US commercial real estate industry, as unemployment leads to a drop of as much as 30 percent in rents in some places and more office towers from Washington to Chicago and Los Angeles sit empty, ........More… (Business)
Banks Dont Need to Be Forced to Lend
online.wsj.com — By BERT ELY Tomorrow, the House Financial Services Committee will hold a hearing to "discuss priorities" for the Obama administration's use of Troubled Asset Relief Program (TARP) funds......More… (Business)
Manhattan Apartment Sales Drop for Fourth Quarter in Recession
bloomberg.com — By Peter S. Green Jan. 6 (Bloomberg) -- Manhattan apartment sales fell for the fourth straight quarter and prices for the most expensive apartments dropped for the first time since the recession began as the national housing slump hit the metropolitan ........More… (Business)
GMs China Sales Growth Slips
online.wsj.com — By PATRICIA JIAYI HO BEIJING -- General Motors Corp.'s flagship passenger vehicle joint venture in China posted its first decline in sales in 2008, a lackluster year for the US auto maker's local operations as overall sales growth slowed sharply......More… (Business)