UAW strikes GM as talks fail to produce a deal
DETROIT (Reuters) - United Auto Workers union-represented employees walked off the job and organized pickets outside General Motors Corp plants as the union called a national strike against the top U.S. automaker after marathon contract talks failed to produce a deal.
Market turns down; financials weigh
NEW YORK (Reuters) - Stocks turned lower on Monday as financial and energy shares declined and an advance in technology shares lost steam.
Abu Dhabi firm bids for Primewest
CALGARY. Alberta (Reuters) - Abu Dhabi National Energy Co will buy Canada's Primewest Energy Trust for C$5 billion in cash, Primewest said on Monday, as the state-controlled firm makes good on plans to turn its new Canadian unit into a major oil producer.
Microsoft readies "Halo 3" for launch
NEW YORK (Reuters) - Video game aficionados lined up before dawn on Monday for the midnight release of "Halo 3," the acclaimed alien shooter game that Microsoft Corp hopes will widen its lead over Sony Corp in the battle for industry dominance.
Nationstar halts U.S. loans
NEW YORK (Reuters) - Nationstar Mortgage, the subprime unit of Fortress Investment Group LLC , said it is no longer accepting new loan applications from brokers, a signal the lender is winding down operations.
Credit crunch unlikely to let up soon, IMF warns
WASHINGTON (Reuters) - Turmoil in global credit and money markets will likely continue as investors worry about the size of financial losses and where they might appear, the International Monetary Fund warned on Monday.
AMR shares fall on disappointing revenue forecast
NEW YORK (Reuters) - AMR Corp shares fell more than 12 percent on Monday, its biggest one-day loss in more than four years, after the parent of American Airlines issued a disappointing revenue forecast amid concerns of slowing demand and rising costs.
First Data completes $26 billion buyout by KKR
NEW YORK (Reuters) - Payment processor First Data Corp said it completed its $26 billion acquisition by Kohlberg Kravis Roberts & Co , closing the book on one part of the closely watched deal.
General Mills promotes COO to CEO post
LOS ANGELES (Reuters) - General Mills Inc. , the maker of Cheerios cereal and Progresso soup, promoted President and Chief Operating Officer Ken Powell to the chief executive post on Monday.
Fed can act again in either direction: Fed's Fisher
DALLAS (Reuters) - Federal Reserve Bank of Dallas President Richard Fisher on Monday said the U.S. central bank cut interest rates last week to avert an unacceptable economic slowdown and said it could move again, in either direction.
Microsoft in talks to invest in Facebook: report
NEW YORK (Reuters) - Microsoft Corp is talking to Facebook about an investment in the company that could value the fast-growing social network at $10 billion or more, the Wall Street Journal reported on its Web site on Monday.
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