SAN FRANCISCO (Reuters) - After nearly a year spent seeking alternatives to Microsoft Corp’s buyout offer, Yahoo Inc’s Chief Executive Jerry Yang said he believes a deal between the two is still the best option for the beleaguered Internet company.

Original post by Reuters: Business News

TOKYO (Reuters) - Toyota Motor Corp’s operating profit will plunge to an eight-year low below $10 billion this year as the financial crisis carves through the sector, a paper said, sending the automaker’s shares sliding 8.9 percent.

Original post by Reuters: Business News

PERTH (Reuters) - Oil fell toward $65 a barrel on Thursday, extending its 7 percent overnight drop after rising job losses sharpened worries of a global recession and growing U.S. fuel stockpiles underscored dimming oil demand.

Original post by Reuters: Business News

NEW YORK (Reuters) - Vanishing jobs and slumping markets confronted Barack Obama on the first day after his historic election as U.S. president, escalating pressure for urgent action to curb the world’s relentless financial crisis.

Original post by Reuters: Business News

NEW YORK (Reuters) - Car and equipment rental firm Hertz Global Holdings Inc said on Wednesday that reduced demand means it won’t meet its latest forecast, and suspended estimating earnings until the economy improves.

Original post by Reuters: Business News

NEW YORK (Reuters) - Cisco Systems Inc Chief Executive John Chambers warned that revenue could fall as much as 10 percent in the current quarter as an economic downturn spreads from the United States to Europe and Asia.

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NEW YORK (Reuters) - Rupert Murdoch’s News Corp cut its full-year forecast and posted a worse-than-expected 30 percent drop in quarterly profit because of falling TV advertising. Shares dived 12 percent.

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NEW YORK (Reuters) - Wells Fargo & Co said on Wednesday it plans to sell at least $10 billion of stock to help fund its purchase of Wachovia Corp , which will create the fourth-largest U.S. bank by assets.

Original post by Reuters: Business News

NEW YORK (Reuters) -Stocks plummeted on Wednesday, a day after Barack Obama’s historic victory in the U.S. presidential election, as a fresh batch of dismal economic data underscored the massive challenges awaiting his administration.

Original post by Reuters: Business News

NEW YORK (Reuters) - Goldman Sachs Group Inc notified roughly 3,200 employees this week that they have been laid off, part of previously reported plans to slash 10 percent of the firm’s global work force amid slumping markets, people familiar with the situation said Wednesday.

Original post by Reuters: Business News