DJIA Sinks 250; Is Flat on Month

The Dow industrials dropped 2.5% Friday, in a slide that wiped out its gains for the month. The VIX volatility gauge soared 24%.

CIT, Icahn Reach Tentative Deal

CIT and Carl Icahn reached a tentative deal that could end a feud over the lender's restructuring plan. The company plans to file for bankruptcy as soon as Sunday.

In Interview, Madoff Was Dismissive of Probe

Madoff was dismissive of a compliance examiner involved in an SEC inspection into his firm and, in a jailhouse interview, said he wished he had been caught "six years ago, eight years ago."

Comcast, NBC Deal Edges Closer

Comcast and GE are negotiating and moving closer to a deal that would give Comcast control of NBC Universal.

Consumer Spending Tumbled

Spending by Americans dropped 0.5% in September, as the cash-for-clunkers subsidy ended and consumers were left with a lousy job market and a credit crunch.

Ford Nears Deal With Canadian Union

Ford Motor has reached a tentative deal with the union representing Canadian auto workers to cut benefits and close an assembly plant in return for preserving wages.

GMAC Pay Fell Before Feinberg

The collapse in the value of GMAC's closely held stock last year already slashed compensation before the pay cuts mandated by Kenneth Feinberg.

Zale Faces SEC Accounting Probe

Zale said the SEC is investigating the jewelry retailer's accounting after the company restated its 2008 and 2009 earnings.

BP Fined $87 Million Over Blast

U.S. regulators slapped BP with a record $87 million fine for failing to correct safety problems at a refinery where a 2005 explosion killed 15 people.

New Oil Find Adds to Repsol Streak

Repsol used to be derided as the oil company with no oil. But its gamble on boosting exploration has paid off, with the Spanish company hitting the jackpot in Brazil, West Africa -- and now the U.S.

Sony Posts Loss, Boosts Outlook

Sony's extensive cost cutting helped it post a smaller-than-expected quarterly loss and an improved full-year outlook.

Madoff Accountant to Plead Guilty

Prosecutors said Madoff's former accountant David G. Friehling is expected to plead guilty to fraud and other charges at a hearing next week.