Business and Finance news

Amgen Inc. is laying off about 380 employees in research and development as it restructures its R&D operations.
The biotech company, based in Thousand Oaks, Calif., says the layoffs are targeted to enable the company to better allocate its research and development resources.
Company spokeswoman Christine Regan says the affected employees were notified Wednesday. They work at […]

Asian markets were mixed in early trading Monday, as investors evaluated a pledge by Germany and France to ensure European banks have the capital to weather any shock that may occur from the region’s debt crisis.
On Sunday, German Chancellor Angela Merkel and French President Nicolas Sarkozy said that a comprehensive response to the debt crisis […]

Stocks are closing sharply higher for a third straight day after U.S. retailers reported stronger September sales and the European Central Bank moved to support that region’s lenders.
Target, Nordstrom, Macy’s and other retailers reported sales that beat Wall Street’s expectations. Analysts said the results suggested the U.S. was not in another recession.
In Europe, investors cheered […]

You’re poorer than you think.
As the recent turmoil on the Toronto stock market wiped out $163 billion in Canadians’ savings, some are rethinking everything from their planned retirement date to next winter’s beach holiday and even their choice of restaurant.
It’s a phenomenon called the “Wealth Effect,” an economic term that refers to the link between […]

Now playing: Movies at Walmart.com.
The world’s largest retailer on Tuesday started streaming many movies the same day they come out on DVD, in a second bid for a share of popular movie rental and streaming website Netflix Inc.’s business and just two weeks after Netflix announced new price increases.
Wal-Mart Stores Inc. bought video-streaming service Vudu.com […]

Gold’s reputation as a safe place for your money sent it above $1,600 for the first time.
Investors are worried about debt problems on both sides of the Atlantic. So they bid gold up $12.30 an ounce Monday to settle at $1,602.40. That’s a record for the market price for gold, but below its 1980 peak […]

St. Louis Mayor Francis Slay weighed into the simmering debate over the future of the Midtown Del Taco Monday afternoon, with a blog post promising extra review before any demolition permit is issued, and urging its owner to consider other ideas for its re-use.
Regardless of any decision by the Board of Aldermen on a request […]

A New York lawyer disbarred after he pleaded guilty to insider trading charges testified Thursday that envy of Wall Street salaries led him to a role in what became the biggest hedge fund insider trading case in history.
Brien Santarlas was the first major government witness to testify at the second trial that resulted from the […]

Defense contractor BAE Systems PLC said Tuesday it has agreed to pay a fine of up to $79 million to settle an arms export controls case with the U.S. Department of State, the largest civil fine ever levied by the department.
The State Department settlement of the civil case includes a possible $10 million reduction in […]

Greece’s budget deficit is forecast to exceed the limit under a European Union-led bailout, reinforcing calls for a new rescue package to stave off default as EU finance ministers prepare to meet next week.
The fiscal shortfall is seen at 9.5 percent of gross domestic product in 2011, the European Commission in Brussels said in […]