SINGAPORE (Reuters) - Evidence of a weakening Chinese economy and feeble data from Australia and Britain reinforced fears of a prolonged global recession on Tuesday, as policymakers groped for a co-ordinated response to the downturn.

Original post by Reuters: Business News

TOKYO (Reuters) - Goldman Sachs Group Inc has cut about 10 percent of its investment bankers in Tokyo as part of the bank’s global efforts to reduce its workforce, people familiar with the matter said.

Original post by Reuters: Business News

TOKYO/SINGAPORE (Reuters) - Oil prices tumbled more than $2 to near $60 a barrel on Tuesday as a firmer dollar and renewed gloom over the global economy wiped away the brief euphoria that greeted Beijing’s $600 billion stimulus plan.

Original post by Reuters: Business News

TOKYO (Reuters) - U.S. crude oil futures fell over $2 a barrel in electric trade on Tuesday, erasing gains from the previous day when crude rose 2 percent as China’s stimulus package and Saudi Arabia’s pledge to cut supplies boosted prices.

Original post by Reuters: Business News

LOS ANGELES (Reuters) - Starbucks Corp’s cut its plans for new international coffee shops and effectively lowered its 2009 forecast after posting a steeper-than-expected decline in fourth-quarter profit.

Original post by Reuters: Business News

LOS ANGELES (Reuters) - Casino operator Las Vegas Sands Corp_, which warned last week it was in danger of violating loan agreements, said on Monday it would suspend construction in Macau as it copes with a lack of financing options.

Original post by Reuters: Business News

WASHINGTON/NEW YORK (Reuters) - The Federal Reserve Board has approved an application by American Express Co to become a bank holding company, the central bank said on Monday.

Original post by Reuters: Business News

WASHINGTON (Reuters) - Leading U.S. housing agencies will on Tuesday announce efforts to loosen loan terms for troubled borrowers in an effort to reverse a rising tide of foreclosures, sources familiar with the plan said late on Monday.

Original post by Reuters: Business News

SAN FRANCISCO (Reuters) - Fashion company Liz Claiborne Inc posted lower adjusted quarterly profit on Monday that beat Wall Street estimates by two cents, and the company narrowed the range of its full-year earnings view.

Original post by Reuters: Business News

WASHINGTON (Reuters) - The Federal Reserve Board has approved an application by American Express Co to become a bank holding company, the central bank said on Monday.

Original post by Reuters: Business News