ConocoPhillips plans to sell assets, cut spending
ConocoPhillips, the third-largest US oil company, plans to sell $10 billion of assets in the next two years and cut capital spending in 2010 to reduce debt and increase returns on capital.
Money manager Putnam Investments said it plans to cut fees on retail mutual funds as a way to draw in assets at a time the industry has lost billions of dollars because of the financial crisis.