NEW YORK (Reuters) – Starwood Hotels & Resort Worldwide , which operates the W, Sheraton and St. Regis brands, beat expectations with its quarterly profit on Thursday as company-wide cost cuts offset shrinking demand.

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Starwood posts smaller profit on cost cuts

NEW YORK (Reuters) – Industrial conglomerate Tyco International Ltd posted a net $2.57 billion net loss, reflecting large charges to revalue its assets in light of a weak economy, but earnings excluding special items beat Wall Street expectations.

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Tyco Intl posts quarterly net loss on charges

The jobless rate in the 16 nations that use the euro surged to 8.9 percent in March, the highest level in nearly five years, the EU statistics office said Thursday. Unemployment is rising steeply despite recently higher business and consumer optimism about…

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Euro jobless rate surges, inflation stable

BAE Systems PLC is closing three factories in Britain with the loss of 500 jobs following a drop in its work for the British government, the defense contractor said Thursday. The affected plants, all part of BAE’s Global Combat Systems Vehicles and Weapons…

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BAE Systems closing 3 factories in Britain

World stock markets rose sharply Thursday even though the World Health Organization warned that a swine flu pandemic was imminent, as investors warmed instead to the Federal Reserve’s suggestion that the worst of the recession in the U.S. may be over. By mid…

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World markets rally on Fed’s US assessment

PHOTO BY KATHLEEN LANDWEHRLEGary Kessler is a professor of informational security at Champlain College in Burlington, Vt. Don’t underestimate the wrath of a disgruntled ex-employee. As the downturn forces businesses to shed jobs, employers should watch for computer sabotage by…

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Standing guard in tough times against computer saboteurs

LONDON (Reuters) – Global stock markets jumped more than one percent on Thursday to their highest since early January as investors bet on a stabilization of the ailing world economy and took heart from some upbeat corporate earnings.

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Global stocks surge on economic stabilization bets

(Reuters) – Social-networking website Facebook has held meetings with private equity firms to explore raising another round of funding, the New York Post reported on Thursday, citing sources.

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Facebook eyes additional funding: report

World stock markets rallied Thursday as U.S. and Japanese economic data signaled the global recession was letting up, with Taiwan shares surging after a historic agreement cleared the way for Chinese investment. The swing higher marked a return to the buying…

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World markets rally as data suggest slump easing

CHARLOTTE, N.C. — Ken Lewis has lost his role as Bank of America’s chairman, and now he’ll have to prove to shareholders that he should keep his post as the troubled bank’s CEO. AP Bank of America CEO Ken Lewis…

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Ken Lewis is stripped of chairman title at Bank of America, remains CEO

Authorities say a tanker truck carrying more than 8,000 gallons of butane has flipped on its side on Interstate 405 in the Sherman Oaks area, blocking all southbound lanes of the freeway as workers seek to safely remove the wreckage. California Highway Patrol…

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Overturned tanker truck shuts down southbound 405

ZURICH (Reuters) – Swiss bank UBS said on Thursday it had axed 2,000 U.S. jobs as part of its latest mammoth round of job cuts announced earlier in April.

UBS axed 2,000 U.S. jobs in latest round of cuts

Softbank Corp., Japan’s third-biggest mobile carrier, said Thursday that it sank into a loss in the fiscal fourth quarter on one-time costs, including launching a superfast Internet service. Softbank reported a net loss of 15.01 billion yen ($154.3 million)…

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Softbank sinks into loss on Internet service

U.S. Attorney General Eric Holder spent days gingerly, privately asking for help before taking his plea public: The United States needs Europe’s assistance to close the Guantanamo Bay detention center. In publicizing his appeal, Holder compared the effort to…

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Holder: US needs Europe’s help to close Gitmo

Before Chrysler can start building cars that more Americans want to buy, it will have to overcome considerable challenges. The biggest may be persuading its three principal new owners – the retirement fund for the labor union that President Obama himself…

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Chrysler faces daunting challenges