Automakers at the world’s premier auto show have pinned their hopes on “green” models but for some companies the immediate future is shaping up as a battle for survival. U.S. auto sales dropped by 18 percent in 2008 to a 16-year low of 13.2 million, pushing financially strapped General Motors Corp and Chrysler to the brink of collapse.
Stocks fell Tuesday in a sparsely traded session as the market limps toward the end of a brutal year. The market had drifted lower for most of the day, but losses accelerated in late afternoon trade.
Eli Lilly and Company, the giant American drug company, agreed to pay nearly $1.5 billion in fines for marketing one of its medicines for uses not approved by the Food and Drug Administration, the Justice Department announced Thursday.
A proposed Internet filter dubbed the "Great Aussie Firewall" is promising to make Australia one of the strictest Internet regulators among democratic countries.
Bank of America CEO Ken Lewis is quickly learning just how lonely life at the top can really be. Last week, the Charlotte-based company reported its first quarterly loss in years, hit hard by rising credit costs and sizeable writedowns.
A consortium of private equity and hedge fund firms, including J.C. Flowers & Co, is close to a deal to buy the assets of failed mortgage lender IndyMac, a source familiar with the matter said on Sunday.
