UBS posted a SFr1.4 billion ($1.3 billion) quarterly net loss. Net outflows of clients' cash slowed, but still hampered the Swiss bank's efforts to recover from huge losses. It has been hurt also by investigations in America into customer accounts allege… more »

After months of speculation and a failed merger effort, Microsoft and Yahoo! announced an agreement to integrate their internet-search and advertising businesses. Under the deal, Microsoft will incorporate Yahoo!’s search technologies into its existing w… more »

After a 15-hour board meeting Porsche removed its chief executive, Wendelin Wiedeking, and accepted that the state of Qatar should take a stake in the company. The actions smooth the way for a merger with Volkswagen and peace between the warring Piëch an… more »

Goldman Sachs surprised even optimistic analysts with a $3.44 billion profit for the three months to June, almost 90% more than the previous quarter. Profits were also up at JPMorgan Chase, which announced second-quarter profits of $2.7 billion on July 1… more »

Alistair Darling, Britain’s chancellor, outlined proposals that would force banks to increase their capital to guard against future crises and give more enforcement powers to the Financial Services Authority, the City regulator. Banks that would pose a s… more »

The collapse of General Motors into bankruptcy is only the latest chapter in a long story of mismanagement and decline Read article more »