Japanese electronics giant NEC Corp. says it plans to slash at least 20,000 jobs worldwide in an effort to cut 80 billion yen ($895 million) in costs over the next two years. The Tokyo-based company says its net loss widened to 130 billion yen ($1.46 billion)…

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NEC to cut 20,000 jobs worldwide as losses widen

(Reuters) – Futures for the Dow Jones Industrial Average, the S&P 500 and the Nasdaq were up between 0.3 percent and 0.5 percent, pointing to a positive start on Wall Street.

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Stocks set to rise; GDP figures eyed

Japanese electronics maker Hitachi Ltd. predicted it would post a massive net loss this fiscal year and said it will slash about 7,000 jobs as part of a global restructuring plan. Battered by plunging demand, the company forecast Friday a net loss of 700…

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Hitachi forecasts $7.7B loss; to cut 7,000 jobs

Honda Motor Co. slashed its annual profit target by over half Friday as profit tumbled 90 percent in the latest quarter, hit by rising costs, a stronger yen and falling sales in key markets. Japan’s No. 2 automaker said net profit for the October-December…

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Honda cuts annual forecast as 3Q profit tumbles

The European Union says inflation in the countries that use the euro currency dropped to 1.1 percent in January, according to preliminary estimates. The EU’s statistics agency, Eurostat, says the further fall of inflation appears to reflect continuing drops…

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Euro zone inflation drops to 1.1 percent in Jan.

New York City Mayor Michael Bloomberg today to seek a $900 million increase in the city’s sales tax, according to a report in the New York Times. The report said the proposal would boost the sales tax rate to 8.75…

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Bloomberg seeks increase in N.Y.C. sales tax

Three casino companies partner to provide weekend rail travel for gamblers

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N.Y.C. to A.C. train service is ready to roll

Asian stock markets faltered today, dragged down by a sell-off in Tokyo as new data underlined the severity of Japan’s economic slump and quarterly reports from leading companies like Sony and Honda showed profits tumbling. Markets had logged some gains…

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Asian markets slump as economic, corporate woes persist

ZURICH (Reuters) – Roche cut the price of its bid for outstanding shares in Genentech, going hostile and dashing investor hopes of a sweetened offer for the 44 percent of the U.S. biotech group its does not already own.

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Roche goes hostile, cuts Genentech bid to $42 billion

TOKYO (Reuters) – Japan’s NEC Corp said on Friday it would cut its groupwide workforce by 20,000 people, and look for ways to exit its industrial liquid-crystal display-related business.

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NEC says to cut groupwide workforce by 20,000

Since being laid off when Circuit City closed the store where he worked, Vincent Self heads to the public library every chance he gets to search for a job. Libraries around the country report significant increases in visitors like Self as more people turn to…

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Economic woes boost library use for job resources

(Reuters) – American International Group Inc , the insurer selling units to repay a U.S. loan, may use a “whole spectrum of deals” and keep some businesses until initial public offerings are possible, its restructuring Chief Paula Reynolds told Bloomberg in an interview.

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AIG’S Reynold says may take some units public: report

Efforts to fight global warming, help Africa and revive the faltering world economy were front and center at the World Economic Forum Friday, a day after Middle East tensions flared publicly at the elite gathering. An outburst by Turkish Prime Minister Recep…

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After confrontation, back to business at Davos

(Reuters) – Morgan Stanley and Goldman Sachs are considering further cuts in staff, the Wall Street Journal reported on Friday, citing people familiar with the matter.

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Morgan Stanley, Goldman mull more job cuts: report

Oil languished below $42 a barrel Friday in Asia as more dismal U.S. economic numbers offset news that OPEC may further cut production. Light, sweet crude for March delivery rose 16 cents to $41.60 a barrel by midafternoon in Singapore in electronic trading…

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Oil languishes below $42 on bad US economic news