Alcoa posts profit as sales rise 18 percent
Alcoa Inc., the largest U.S. aluminum producer, posted a second-quarter profit on Monday, as sales rose 18 percent despite a recent drop in aluminum prices.
Aon agrees to buy Hewitt for $4.9 billion
The deal, assuming it is approved by regulators, is the company's biggest ever and dramatically expands its push into human resources consulting worldwide. Aon is the world's largest insurance broker but trails rival Marsh & McLennan Co., whose subsidiaries ...
BofA tightens practices after $10.7 billion error
CHARLOTTE, North Carolina — Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter ...
The era of cheap Chinese goods may be ending
SHANGHAI — Factory workers demanding better wages and working conditions are hastening the eventual end of an era of cheap costs that helped make southern coastal China the world's factory floor.
Land conflicts slow India's rush to industrialize
SANAND, India — It doesn't look like he's won much from industrialization. Take his face, weathered beyond his 30 years, or the earth stuck to his bare ungainly feet.
Bankrupt BP? Chances are remote, experts say
With pockets as deep as BP’s — its assets are worth more than $260 billion — the possibility that it might be forced to seek bankruptcy protection because of the Gulf of Mexico oil spill is considered remote by many industry experts.
BP reportedly in talks to sell Alaska oil stake
Besides selling assets, BP is raising billions from bond issues and bank loans, the Times said.
IMF sees no double-dip recession in U.S.
WASHINGTON — The International Monetary Fund does not anticipate a double-dip recession for the United States, the head of the Fund's North American division said on Thursday.
South Africa economic woes unfixed by Cup
JOHANNESBURG — South Africa may reap a windfall for defying the skeptics and successfully hosting the World Cup but the profits short term are heading elsewhere while unions gripe and the nation's already staggering unemployment rate climbs higher.
BP "pleased" with containment cap operation so far
New Orleans, Louisiana (CNN) -- BP said Sunday that it is "pleased" with how the operation to place a new cap on its ruptured undersea well is proceeding.
Hefner and Penthouse in Playboy bidding war
NEW YORK (CNNMoney.com) -- Shares of Playboy surged nearly 35% Monday morning as a bidding war is emerging for the iconic adult entertainment company.
China exports up 44 percent in spite of global fears
Beijing, China (FT.com) -- China defied widespread fears about a new slowdown in the global economy to record another surge in exports last month compared to the same period last year, although the figures will also draw attention again to whether the Chinese ...
China renews Google license, ending standoff
NEW YORK (CNNMoney.com) -- Google said Friday that it has renewed its license with the Chinese government to continue operating in that country, ending a standoff over censorship.
Toyota working on Tesla-based electric car
NEW YORK (CNNMoney.com) -- Moving ahead with a partnership announced in May, Toyota is working on a potential new electric car with California's Tesla Motors, a source at the Japanese automaker said.
Stocks: Best week in a year
NEW YORK (CNNMoney.com) -- Stocks rallied Friday, finding momentum at the end of a choppy session ahead of the first wave of quarterly corporate results due out next week.
Is world's largest vanilla market on verge of collapse?
Sambava, Madagascar -- The world's largest vanilla industry is feared to be on the verge of collapse as farmers struggle to earn a living.
Creating a buzz with eco-vuvuzelas made from kelp plant
Cape Town, South Africa (CNN) -- The sound of vuvuzelas has been a feature of every match at this year's World Cup, but one Cape Town business is using them to create a different kind of buzz.
China's frothy property market falters in June
China's frothy property market may have peaked after a government clampdown on speculators, new data has shown.
China sees surge in trade surplus
China has recorded a fresh surge in its trade surplus and exports, beating market expectations.
Commission welcomes Unicredit bank rescue fund proposal
The European Commission has cautiously welcomed a financial rescue fund being proposed by Unicredit.
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