Sony CEO Stringer Picks a New Team

CHICAGO (Reuters) – The Federal Reserve’s new long-run forecasts should help keep inflation expectations anchored at a time when a decline would be “most unwelcome,” San Francisco Fed President Janet Yellen said on Friday.

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Fed’s Yellen: Long-run inflation forecasts useful

NEW YORK (Reuters) – U.S. consumer confidence fell to a three-month low in February on expectations the recession would grind on throughout this year and the jobless rate will keep rising, a survey showed on Friday.

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U.S. consumers’ mood sours in February

European and U.S. markets plunged Friday after economic data showed the U.S. economy shrank in the fourth quarter at the fastest pace in over a quarter century. Market sentiment was also weak as investors worried about banks’ health and pharmaceutical…

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European, US stocks plunge as economic fears weigh

NEW YORK (Reuters) – Stocks slid to a 12-year low on Friday as a move by the U.S. government to take a large common equity stake in embattled lender Citigroup sowed more uncertainty over the fate of major banks.

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Wall Street drops on Citi worries, grim GDP

Investors flinched early Friday as the details emerged from Citigroup Inc.’s plans to turn over a big piece of itself to the government and as the economy shrank at a much faster pace than expected at the end of last year. Stocks tumbled in the early going…

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Stocks sink after Citi deal, GDP reading

RUSSELSHEIM, Germany (Reuters) – General Motors’ German unit Opel agreed to a restructuring plan that aims to save as many jobs and factories as possible but needs 3.3 billion euros ($4.18 billion) in state aid, GM officials said.

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GM’s Opel agrees to restructuring plan

NEW YORK (Reuters) – The Nasdaq briefly turned positive on Friday while the Dow and S&P 500 tumbled, as gains in tech shares including Apple and Qualcomm offset a slide in financial stocks.

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Tech shares briefly lifts Nasdaq, offsets financials

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Companies’ Secret Weapon: Underutilized Executives

NEW YORK (Reuters) – Wells Fargo & Co has halted its bonus program for a handful of top executives, the bank said in a regulatory filing on Friday.

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Wells Fargo suspends cash bonuses for top executives

China and the U.S. resumed military-to-military consultations Friday after a five-month suspension over American arms sales to Taiwan, but a top Chinese officer warned the exchanges remain in a “difficult period.” China froze military exchanges in October to…

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US-China military talks resume, obstacles remain

Federal regulators are raising the fees paid by U.S. banks and thrifts, and levying an emergency premium to rebuild a deposit insurance fund depleted by a cascade of bank failures. The Federal Insurance Deposit Corp. says it now expects bank failures will…

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FDIC raising fees on banks, adds emergency fee

NEW YORK (Reuters) – U.S. consumer confidence fell to a three-month low in February on expectations that the recession would grind on throughout this year and the jobless rate will keep rising, a survey showed on Friday.

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U.S. consumers’ mood sours in February: survey

Pilgrim’s Pride Corp. said Friday it will cut 3,000 jobs, or about 7 percent of its U.S. work force, as it shuts operations at three of its 32 chicken processing plants. The closures, which will reduce the company’s chicken production by roughly 10 percent,…

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Pilgrim’s Pride to shut operations at 3 plants

Police say a Bank of Ireland employee has stolen millions of euros from his own branch after a gang took his family hostage and threatened to kill them unless he cooperated. Kidnappings of bank officials’ families are common in Ireland but usually involve…

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Hostage-takers steal millions from Bank of Ireland