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Yahoo! News: Business
Business

<p>Reuters - Yahoo Inc on Monday rejected Microsoft Corp's unsolicited $41.5 billion takeover offer as too low, forcing the software maker to either sweeten its bid or adopt a hostile approach to clinch a deal.

Reuters - American International Group Inc on Monday revealed that its auditors had questioned whether it properly valued its derivatives portfolio, raising new questions about accounting practices at the world's largest insurance company.

Reuters - Stocks were little changed on Monday as financial sector shares were hurt by worries about the impact of the credit crisis on insurer American International Group Inc , offsetting bargain hunting and takeover talk in the technology sector.

Reuters - Citigroup and Goldman Sachs are the most exposed to further writedowns from leveraged loans in the first quarter, as the value of loans and bonds created to finance leveraged buyouts plunges, Bank of America said.

Reuters - The Dow Jones industrial average (.DJI) is adding Bank of America Corp and Chevron Corp , the first change to the blue-chip stock index in almost four years, Dow Jones & Co said on Monday.

AP - President Bush, acknowledging that the country is suffering through a period of economic uncertainty, called on Congress Monday to do more to help people and businesses hurt by the housing slump and credit crunch.

FT.com - Wall Street stocks retreated on Monday as worries about credit losses at American International Group (NYSE:AIG) added to fears that US companies face further credit-related turmoil.
AP - Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments.

Reuters - International wireless giant Vodafone Group Plc and BlackBerry maker Research In Motion Ltd announced a partnership on Monday as RIM seeks to broaden the BlackBerry's reach.

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