Latest business news

Citigroup CEO awarded $10.8 million
Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year when the government propped up the bank with $45 billion of capital.

Wall Street open higher building on 4 day rally

Wall Street rises moderately in morning trading, extending rally into a 5th straight day.
Investors buoyed by comments on the economy from Federal Reserve Chairman Ben Bernanke sent stocks mostly higher Monday. The Dow Jones industrials and Standard & Poor's index rose for a fifth straight day.

Atlantic City isn't recession-proof

In the 20 years he's worked on the Atlantic City boardwalk, Joe Lochs has never seen business this bad.
Lochs, 54, makes his living giving rides to casino patrons in a "rolling chair," a three-wheeled, wicker-sided buggy that he pushes up and down the boardwalk between casinos, shops and restaurants.

Oil falls to $44 after OPEC keeps output steady
Oil fell to around $44 a barrel Monday after OPEC decided to leave existing output targets unchanged.
OPEC agreed Sunday to enforce existing output curbs more strictly, rather than introduce new ones, to help heal the global economy even though crude oil inventories have remained relatively high and fuel demand has been weak.

Don't see Satyam as going forward
According to iGATE CEO Phaneesh Murthy, shareholder loss in Satyam could be around $100 million. However, he believes that it is tough to put number to overall liability of Satyam. He expects number of serious bidders to come down dramatically and doesn't see Satyam as $2 billion revenue company going forward.

Tatas' debt to cross Rs 1-trillion mark
Tata group's total debt is set to exceed Rs 1,00,000 crore in the current fiscal, but it appears comfortable on the liquidity front, a report has said.