HBOS bad debt charges soar to $7.5 billion

Troubled U.K. bank HBOS said Friday that its total bad debt charge has soared over 70% to around 5 billion pounds ($7.5 billion) in the last couple of months as credit quality has deteriorated sharply and asset prices have fallen further.

Reuters reports Goldman Sachs' (GS) energy equity research team, which predicted earlier this year that crude oil could spike as high as $200 a barrel,

Alcatel-Lucent to cut 1,000 managers, 5,000 contractors

UBM sees results in line with expectation, cuts 350 jobs

Media and events group United Business Media said Friday that it expects to deliver 2008 earnings and revenue in line with the market consensus. UBM said its previously announced action to reduce costs will result in a fall of around 350 in its global headcount in the second half of the year

Bank of America to cut up to 35,000 jobs

Bank of America said late Thursday that it plans to cut up to 35,000 jobs over the next three years as the financial giant adjusts to a recession and completes the pending acquisition of brokerage firm Merrill Lynch & Co.