The Wall Street Journal-20080128-Business and Finance
Return to: The_Wall_Street_Journal-20080128
Business and Finance
Full Text (275 words)AFrench prosecutor is due to decide today whether to put Societe Generale trader Jerome Kerviel under formal investigation. The alleged rogue trades that lost the bank $7.2 billion may have been made possible by Mr. Kerviel's lowly position on the Delta One desk -- so far down the totem pole that some didn't consider him a trader at all.
---
Stocks' uncertain response to Fed rate cuts increases investor fears that the current problems are too big for a quick fix.
Oil prices rose after hitting a three-month low last week, but the decline is expected to resume on U.S. economic concerns.
---
A hedge fund nominated four candidates to New York Times Co.'s board, which could add to pressure over the weak stock.
---
Some bondholders fret their Countrywide debt won't be fully backed in Bank of America's takeover of the mortgage lender.
Countrywide CEO Mozilo is giving up $37.5 million in severance pay, fees and benefits amid pressure from politicians.
---
Gazprom is moving into retail natural-gas markets in Europe, with plans to sell gas and power directly to consumers.
---
New York prosecutors took a step forward in their subprime-crisis probe by securing cooperation from a due-diligence firm.
Merck and Schering-Plough face a probe by New York's attorney general over a study of their cholesterol drug Vytorin.
---
Regulators plan to revamp a federal program that subsidizes telephone services for low-income and rural customers.
---
Imperial Tobacco Group said it secured 95.8% of French-Spanish rival Altadis, paving the way for the $18.49 billion takeover.
---
Cisco is introducing a suite of Nexus Series hardware and software products to simplify corporate data centers.
