Marsh &amp; McLennan forecast slashed, stock slides
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Shares of insurance brokerage Marsh &amp; McLennan Cos. continued their slide Monday as analysts said the firmâs suspension of âcontingency commissionâ arrangements would sharply cut earnings.
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U.S. stocks fell on Friday on signs   the economy may be slowing more sharply than previously   thought, threatening corporate profits, including those of   large industrial companies.
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Stocks declined Monday, the last day of a volatile and difficult year on Wall Street.
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Stocks slid for a sixth day on Wednesday as disappointing profit forecasts from Apple Inc and Motorola added to recession worries, pushing the Nasdaq across the threshold that signals a bear market.
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U.S. stock index futures sank in  holiday-shortened trading on Monday as fear of a U.S. recession  gripped investors, indicating Wall Street was likely to join a  global equity markets plunge that may usher in a bear market  when trading resumes on Tuesday.
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Marsh & McLennan, the US insurance broker being sued for alleged price fixing, is to cut 3,000 jobs as it faces an expected decline in its revenues.
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Marsh & McLennan Cos. , at the center of a bid-rigging scandal rocking the insurance industry, on Tuesday said it will cut 3,000 jobs and said third-quarter profit fell 94 percent as it set aside money for legal and regulatory expenses.
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Marsh &amp; McLennan  posted a bigger-than-expected drop in quarterly profit as it digested higher costs and hefty restructuring charges.
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Dow Jones &amp; Co. on Wednesday cut its earnings forecast for the current quarter, citing weakness this month in key advertising categories at its flagship newspaper, The Wall Street Journal.
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Stocks fell on Friday as investors   worried that the economy will slow more sharply than expected,   prompting them to sell shares of big industrial companies such   as heavy equipment maker Caterpillar Inc. CAT.N.
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Stocks suffered their biggest drop in nearly a year on Tuesday after data showed the worst monthly contraction in the services sector since the last U.S. recession and Standard &amp; Poor's warned it could cut bank credit ratings.
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Stocks tumbled across Asia as panicky investors feared a U.S. recession could derail global economic growth, and a sharp drop in U.S. stock index futures pointed to heavy selling in New York later on Tuesday.
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U.S. stocks tumbled on Monday, with major indexes falling by their biggest margin in months, amid concern about Google Inc.'s  valuation and doubts about holiday spending after a disappointing sales estimate from Wal-Mart Stores Inc. .
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Marsh &amp; McLennan Cos., the world&#39;s largest insurer, announced a five-per-cent cut to its workforce on Tuesday, in hand with a big decline in its third-quarter results.
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U.S. stocks tumbled on Friday, battered by disappointing results from bellwether stocks such as Caterpillar Inc.  and Google Inc. , and worry that fallout from the risky subprime mortgage market may spread.
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Wall Street stocks fell sharply on Friday after a disappointing earnings outlook at American Express (NYSE:AXP) compounded worries that the US economy is heading for a sharp slowdown.
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Stocks fell on Friday as investors   worried that the economy may get bruised by a   sharper-than-expected slowdown, which prompted them to sell   shares of big industrial companies such as heavy equipment   maker Caterpillar Inc. CAT.N.