SINGAPORE (Reuters) - South Korea’s central bank, anxious to soothe markets and shore up its economy, cut interest rates for the third time in a month on Friday after a flurry of deep rate cuts across Europe failed to calm panicky investors.

Original post by Reuters: Business News

PERTH (Reuters) - Oil reversed course and rose above $61 a barrel on Monday, buoyed by a weakening U.S. dollar, but gains were curbed as an increasingly gloomy economic outlook continued to weigh on near-term energy demand.

Original post by Reuters: Business News

DETROIT (Reuters) - Chrysler LLC is rapidly burning through cash and being driven to prepare for a possible break-up if it can’t clinch a merger with General Motors Corp or get government funding needed to ride out the economic crisis, people with knowledge of the situation said.

Original post by Reuters: Business News

WASHINGTON (Reuters) - Chief executives of distressed U.S. auto companies sought a $50 billion federal bailout on Thursday to survive a financial crisis blamed on a worsening economy and the “near collapse” in demand for cars.

Original post by Reuters: Business News

SYDNEY (Reuters) - Software giant Microsoft Corp on Friday dismissed speculation that it might still be interested in a takeover of Internet firm Yahoo.

Original post by Reuters: Business News

PERTH (Reuters) - Oil reversed earlier losses and turned positive on Friday, recovering back above $61 a barrel on the back of a weakening U.S. dollar.

Original post by Reuters: Business News

PERTH (Reuters) - Oil fell below $60 a barrel for the first time in 20 months on Friday, extending its overnight drop of 7 percent, as spreading economic gloom further dampened the outlook for energy demand.

Original post by Reuters: Business News

PERTH (Reuters) - Oil fell below $60 a barrel on Friday, extending its overnight drop of 7 percent, to its lowest level since March 2007 as spreading economic gloom further dampened the outlook for energy demand.

Original post by Reuters: Business News

BANGALORE (Reuters) - U.S. internet security provider VeriSign Inc reported a quarterly profit that beat Wall Street expectations on the strength at its core businesses and said it was on track to meet its full-year forecast.

Original post by Reuters: Business News

LOS ANGELES (Reuters) - The global economic downturn hit Walt Disney Co’s quarterly results harder and faster than Wall Street expected, with the company on Thursday reporting a sharp decline in hotel bookings and softness in advertising revenue at its networks.

Original post by Reuters: Business News