The Wall Street Journal-20080126-Business and Finance
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Business and Finance
The Dow industrials fell 171.44 points, or 1.4%, to 12207.17 as stocks' wild week closed on a negative note. An early rally faltered as jittery investors again bid up prices for the safe havens of bonds and gold. Much of the nervousness surrounded hedge funds.
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A Societe Generale executive said supervisors of the trader allegedly responsible for the massive fraud missed several opportunities to stop him.
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Platinum and gold hit new highs amid blackouts in South Africa. The push for commodities is straining nations' power grids.
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U.S. money managers are courting foreign governments in hopes of managing their money in return for lucrative fees.
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Merck and Schering-Plough's disclosure over delayed Vytorin results fueled more doubts about how the study was managed. The FDA is planning a review.
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The U.K.'s markets regulator "systematically failed" to properly supervise mortgage lender Northern Rock, a report found.
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Judith Regan and News Corp. settled a wrongful-termination suit stemming from the publisher's firing in December 2006.
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Caterpillar's net climbed 11% on booming overseas demand, which is expected to drive growth amid a slowdown in the U.S.
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Germany's economy may be the best hope for sustained growth in the euro zone as confidence frays in the region.
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IAC Chairman Diller is in talks to bring in outside investors or possible buyers for all four of the units he is planning to spin off.
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WellCare's CEO and two other top executives stepped down, and the company disclosed details of the probe into its operations.
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Sears is expected to name James Barr, a Microsoft executive, to lead its online unit.
