Business News Archive - March 14, 2009

One of Chicago's top law firms has laid of 89 lawyers and 140 staffers, a leaked internal memo indicates. The memo said Sidley Austin's London office also would be downsized, although few details were included, The Chicago Tribune reported. Citing the global economic downturn, Sidley Austin officials said they were aligning the firm's staffing levels to match the volume of expected work in the next 12 to 18 months.

Legendary Silver Arrow Vehicle Exhibit Set for Concours d'Elegance AMELIA ISLAND, Fla., March 14 /PRNewswire/ -- Mercedes-Benz commemorates the 75th anniversary of the Silver Arrows at this year's Amelia Island Concours d'Elegance, one of the nation's most innovative vintage auto shows featuring over 250 rare classics from seldom-seen private collections nationwide.

Wells Fargo Bank and HSBC Bank intentionally steered African-Americans who qualified for conventional mortgages into costlier subprime loans, a lawsuit claims. The suit, filed Friday by the civil rights group the National Association for the Advancement of Colored People in U.S.

The Washington Post Saturday said it will fold its business coverage into the newspaper's A section, further trimming the size of the daily newspaper. The move to eliminate the Post's stand-alone business page six days per week will enable drastic reductions of its printed stock tables and trim the

Ford Motor Co., joining fellow U.S.

AUBURN HILLS, Mich., March 14 /PRNewswire/ -- The global Guardian Industries family mourns the loss of its visionary leader and guiding light, owner and CEO William Davidson -- "Mr. D" to the more than 19,000 Guardian people around the world.

The U.S. economic downturn is producing a wave of forced entrepreneurship, or start-up companies necessitated by job layoffs, experts say.

Switzerland is bowing to international pressure, agreeing to end its policy of allowing secretive banking, officials said. The Times of London reported Saturday that the move means Switzerland will join Liechtenstein, Luxembourg and Andorra, which also agreed this week to share limited information on their accounts on request from foreign governments. The newspaper said Zurich's decision to end its 300 years of banking secrecy precedes the G20 meeting, where British Prime Minister Gordon Brown plans to press for international tax havens. Switzerland has said it would share information on bank accounts with other countries on individual cases.

Several states have begun offering unemployment benefits by debit card but those who choose the option find there is a downside -- U.S.

Word of the Day
  • Emitting flashes of light; glittering.
The word 'coruscant' comes from a Latin word meaning 'to flash' or 'to sparkle'.