DR Horton narrows loss as orders surge

DR Horton, the second biggest homebuilder in the US, sees its losses narrow in the latest quarter as house orders surged, but says market conditions remain challenging

• Record numbers late on US loans

J&J stays true to its diversified model

Johnson & Johnson defends its strategy, with its three broad divisions of medical devices, consumer health and pharmaceuticals, even as the approach fails to shield it from industry pains

Oracle wins more time for Sun merger

The European Commission extends the deadline for approval of Oracle’s proposed $7.4bn merger with rival Sun Microsystems

Short-term US interest rates turn negative

Short-term US interest rates turned negative as banks frantically stockpiled government securities in order to polish their balance sheets for the end of the year

ISDA names Voldstad as new chief

The International Swaps and Derivatives Association has appointed Conrad Voldstad as its new chief executive officer as the industry body seeks to boost its profile at at time when legislative changes could curtail the use of derivatives and profits for banks and investors in the sector

Dell sees rebound in PC sales to business

Third-quarter profits sank 54% on a continued decline in sales, but the second largest personal computer maker said business customers had finally begun to increase spending

Wells Fargo agrees to buy back securities

The US bank has agreed to buy back about $1.4bn of auction-rate securities from investors as part of a settlement with regulators investigating the collapse of the market for the debt instruments

Nuts and bolts team regains command

Boeing renews its commitment to engineering and execution following a management reshuffle last month