JPMorgan Chase, which reported $11.7 billion in profit in 2009, awarded Chief Executive Jamie Dimon a compensation package worth about $16 million.
Bankers’ compensation has been a hot-button issue amid the financial crisis, as the U.S. government spent billions in taxpayer funds to prop Continue reading this post…

Air Products and Chemicals launched an unsolicited $5.1-billion cash bid to buy rival Airgas Friday in a move to create the largest industrial gas company in North America. Airgas shares jumped 42 percent in premarket trading.

Air Products, which supplies gases such as argon, helium and nitrogen Continue reading this post…

Toyota President Akio Toyoda has apologised for the recall of millions of cars across the world and pledged to set up a new quality control committee.

Mr Toyoda said he was “deeply sorry” for the recalls and admitted Toyota faced “a moment of crisis”. Continue reading this post…

Troubled Swiss bank UBS, which has been battered by a U.S. tax evasion probe, is reorganizing its U.S wealth management division in an attempt to stem outflows.

The Swiss bank, the world’s second largest wealth manager, said on Continue reading this post…

BG Group said its pre-tax profits fell to £857m ($1.4bn) in the three months to the end of December 2009 from £1.3bn in the same period a year ago.

Full year profits for the UK gas producer were down to £3.9bn in 2009, from £5.5bn in 2008 Continue reading this post…

The US economy grew by an annualized rate of 5.7% between October and December, official figures have shown.

The number, which is a first estimate, is a big rise from the previous quarter’s growth rate of 2.2%. Continue reading this post…

The carmaker made $2.7bn (£1.7bn) in 2009, compared with a loss of almost $15bn in 2008, and said it expects to be profitable this year as well.

For the final three months of last year, the company made $868m, a dramatic improvement on the $6bn loss it made a year earlier. Continue reading this post…

Samsung Electronics has reported strong profits in the fourth-quarter of 2009 thanks to increased sales of flat screen televisions and mobile phones.

The company’s net profit in the three months to 31 December rose to 3.1 trillion won ($2.7bn;£1.7bn). Continue reading this post…

Toyota says it is recalling up to 1.8 million cars across Europe, including about 220,000 in the UK, following an accelerator problem.

The carmaker says it will recall eight models including the Yaris, the Corolla and the RAV4 sports utility vehicle. Continue reading this post…

Kodak has said it will sue Apple and Research In Motion (RIM), the makers of the iPhone and Blackberry, over technology used in their handsets. Kodak has filed a complaint with the US International Trade Commission (ITC).

It alleges the iPhone and Blackberry use technology for previewing Continue reading this post…