Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
Hong Kong Disneyland promotes Bull Ernest
Jan 9 2006 10:58PM (CT)
HONG KONG (AP) - Bill Ernest has been promoted to executive vice president and managing director of the Hong Kong Disneyland Resort, the company said Tuesday.
|
|
|
Former Enron IR chief revises statement
Jan 9 2006 10:39PM (CT)
HOUSTON (AP) - The former head of investor relations at Enron Corp. has revised a statement attached to his guilty plea to attribute to former CEO Jeffrey Skilling what could be an incriminating statement he originally said he made.
|
|
|
Toys R Us to shutter 87 locations
Jan 9 2006 10:38PM (CT)
PARAMUS, N.J. (AP) - Toys R Us Inc. will shutter 87 locations in coming months as part of its reorganization after being taken private last year, but plans to convert 12 of those into Babies R Us stores.
|
|
|
Japanese stocks lower; Dollar higher
Jan 9 2006 10:10PM (CT)
TOKYO (AP) - Japan's main stock index lost ground at midday Tuesday on a sell-off in banking stocks and concerns about both an overheated market and a weaker dollar-yen exchange rate. The dollar was slightly higher against the yen and euro.
|
|
|
Family sues Disneyland after accident
Jan 9 2006 9:40PM (CT)
SANTA ANA, Calif. (AP) - A Colorado family involved in a 2004 roller coaster accident has sued Disneyland, alleging the theme park failed to follow proper safety procedures on its Big Thunder Mountain Railroad ride.
|
|
|
Automakers introduce several new hybrids
Jan 9 2006 8:40PM (CT)
DETROIT (AP) - Automakers introduced several new hybrids at the North American International Auto Show, but several remain skeptical that the vehicles will make a profit anytime soon because of the high cost of development.
|
|
|
Sovereign seeks SEC probe of shareholder
Jan 9 2006 8:28PM (CT)
PHILADELPHIA (AP) - Sovereign Bancorp Inc. on Monday asked a federal regulator to investigate its largest shareholder over "false and misleading" accusations that the thrift promoted a favorable editorial without fully disclosing business ties to the author's company.
|
|
|
London subway strike causes delays
Jan 9 2006 8:20PM (CT)
LONDON (AP) - Commuters suffered some delays to subway journeys across London Monday in a 24-hour strike by station staff, but there was no sign of the major disruption that had been feared.
|
|
|
Labor objects to exec. bonuses at American
Jan 9 2006 7:51PM (CT)
FORT WORTH, Texas (AP) - Leaders of three unions at American Airlines are questioning stock-based bonuses that executives of the money-losing carrier are due to receive in April.
|
|
|
Alcoa profit falls 16 percent in 4Q
Jan 9 2006 7:40PM (CT)
PITTSBURGH (AP) - Alcoa Inc. reported a 16 percent decline in its fourth-quarter profit on Monday, missing Wall Street projections as the huge aluminum producer was racked by setbacks from hurricane-related refinery slowdowns to restructuring costs. Its shares fell 3 percent in late-session activity.
|
|
|
Wyeth 2006 forecast misses Street views
Jan 9 2006 7:16PM (CT)
TRENTON, N.J. (AP) - Drug maker Wyeth on Monday predicted 2006 earnings beneath Wall Street expectations, but company executives said it would be a strong year nonetheless, with several drugs producing blockbuster sales and plans to seek approval for six new medicines.
|
|
|
General Motors unveils new Camaro concept
Jan 9 2006 7:09PM (CT)
DETROIT (AP) - Following a parade of classic Chevrolet Camaros, General Motors Corp. rolled out a concept version of the once-popular sport coupe that is testing the waters for a possible revived production model.
|
|
|
Judge declines to dismiss Enron charges
Jan 9 2006 6:45PM (CT)
HOUSTON (AP) - The judge overseeing the fraud and conspiracy trial of Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling declined Monday to dismiss the case based on defense allegations of prosecutorial misconduct.
|
|
|
Continental Tire to lay off 513 workers
Jan 9 2006 6:34PM (CT)
CHARLOTTE, N.C. (AP) - More than 500 workers will lose their jobs in two waves of layoffs over the next several months at Continental Tire North America's plant in Charlotte, company officials said Monday.
|
|
|
Investors cheer Abbott's $4B Guidant deal
Jan 9 2006 6:05PM (CT)
CHICAGO (AP) - Abbott Laboratories Inc.'s deal to buy part of Guidant Corp. for about $4 billion was applauded Monday by investors and analysts, who said it would give the manufacturer of drugs and diagnostic tests new clout in medical devices.
|
|
|
Dresdner faces $1.4B discrimination suit
Jan 9 2006 6:01PM (CT)
NEW YORK (AP) - U.S. employees of a German investment bank filed a $1.4 billion discrimination lawsuit Monday, portraying the company as a sexist playland where women were hired as "eye candy" and one was referred to as "the Pamela Anderson of trading."
|
|
|
Home Depot buys Chem-Dry carpet cleaning
Jan 9 2006 5:56PM (CT)
ATLANTA (AP) - The Home Depot Inc., the nation's largest home improvement store chain, said Monday it has bought the Chem-Dry carpet and upholstery cleaning provider to add to its home installation business.
|
|
|
Treasurys steady as investors seek insight
Jan 9 2006 5:45PM (CT)
NEW YORK (AP) - Treasurys prices held firm Monday, undaunted by strength in stocks, as investors await fresh clues about the outlook for interest rates.
|
|
|
Monday's commodities roundup
Jan 9 2006 5:39PM (CT)
NEW YORK (AP) - Fund and other speculative buying propelled precious metals sharply higher in New York Monday, sending gold futures to their strongest levels in 25 years.
|
|
|
Dow 'catching up' as it closes above 11,000
Jan 9 2006 5:29PM (CT)
NEW YORK (AP) - What took it so long? The Dow Jones industrial average closed above 11,000 Monday for the first time in more than four years _ one indicator of Wall Street's slow recovery from terror attacks, recession and corporate scandals.
|
|
|
Automakers making push into crossovers
Jan 9 2006 5:27PM (CT)
DETROIT (AP) - Dampened by high gas prices, the auto industry has faced tough times selling large sport utility vehicles lately. But with demand still high from families wanting plenty of space, carmakers may have an antidote: the crossover.
|
|
|
Customer choice the theme of the auto show
Jan 9 2006 5:26PM (CT)
DETROIT (AP) - Lexus and Chrysler are debuting luxurious sedans at this year's North American International Auto Show. Ford is offering a chiseled new crossover. Honda is hyping a subcompact. As the age of the SUV comes to an end in the United States, the world's automakers are engaged in a race to figure out the next hot trends.
|
|
|
ABC to distribute BBC News reports
Jan 9 2006 5:15PM (CT)
NEW YORK (AP) - The British Broadcasting Corp. will make about 40 video news clips available daily in the United States and Canada for Internet and cell phone subscribers through a deal with ABC News.
|
|
|
United Airlines starts bankruptcy endgame
Jan 9 2006 5:05PM (CT)
ELK GROVE VILLAGE, Ill. (AP) - United Airlines' parent company said Monday it has launched its bankruptcy exit financing loan of up to $3 billion, effectively starting the countdown toward the conclusion of its three-plus years in bankruptcy.
|
|
|
Ford hopes to revive Lincoln nameplate
Jan 9 2006 5:02PM (CT)
DETROIT (AP) - The Ford Motor Co. division that gave the world both the stodgy Town Car and the urban-chic Navigator introduced a new crossover and a sedan concept Monday that it hopes will help it establish a reputation for "distinctly American," cutting-edge luxury design.
|
|
|
NFL, Levitra marketers set to part ways
Jan 9 2006 4:57PM (CT)
NEW YORK (AP) - The National Football League and the marketers of erectile dysfunction drug Levitra have opted to bench their three-year old sponsorship deal when it expires in March.
|
|
|
Interest rates mixed in Treasury auction
Jan 9 2006 4:54PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction with the rate on three-month bills rising to the highest level in nearly five years while rates on six-month bills declined slightly.
|
|
|
MasTec stock rises on DoT selling plan
Jan 9 2006 4:52PM (CT)
NEW YORK (AP) - MasTec Inc. shares rose Monday after the builder of communications towers said it intends to sell almost all of its state Department of Transportation projects, which had been operating at a loss.
|
|
|
Boston Scientific pushes back expectations
Jan 9 2006 4:52PM (CT)
BOSTON (AP) - Boston Scientific Corp. said Monday it would take a year longer than originally expected to see earnings gains from its proposed acquisition of Guidant Corp. because it is committed to taking costly steps to restore the rival medical device maker's business after recent product recalls.
|
|
|
MedImmune lets go senior executive
Jan 9 2006 4:51PM (CT)
GAITHERSBURG, Md. (AP) - A top executive at drug maker MedImmune Inc. has left _ just weeks after he signed a new employment agreement, the company said in a Securities and Exchange Commission filing Monday.
|
|
|
Santarus down; TAP ends sublicense pact
Jan 9 2006 4:44PM (CT)
NEW YORK (AP) - Santarus Inc. stock fell Monday after the pharmaceutical company said privately held TAP Pharmaceutical Products Inc. ended its sublicense agreement with the company.
|
|
|
Saks mulls possible sale of Parisian chain
Jan 9 2006 4:39PM (CT)
BIRMINGHAM, Ala. (AP) - Retailer Saks Inc. said Monday it was considering selling its Parisian department store chain and announced the replacement of longtime Chief Executive Brad Martin with chief operating officer Stephen I. Sadove.
|
|
|
Oil prices decline on warm weather
Jan 9 2006 4:34PM (CT)
NEW YORK (AP) - Crude-oil prices dropped below $64 a barrel Monday, as traders took profits from last week's surging prices and focused on warm weather in the United States, which is dampening demand for heating oil.
|
|
|
U.S. dollar rises against euro
Jan 9 2006 4:28PM (CT)
NEW YORK (AP) - The U.S. dollar strengthened against the euro Monday amid expectations the European Central Bank will leave interest rates unchanged later this week. It also rose against most other major currencies with the exception of the yen.
|
|
|
NASD charges Oppenheimer, CEO Lowenthal
Jan 9 2006 4:27PM (CT)
WASHINGTON (AP) - Oppenheimer & Co. and its chief executive Albert Lowenthal were charged with "knowingly producing inaccurate data" by the National Association of Securities Dealers as part of a probe of discount practices in the selling of mutual funds.
|
|
|
Texas Instruments selling division for $3B
Jan 9 2006 4:26PM (CT)
DALLAS (AP) - By selling its sensors and controls division for $3 billion to a private equity firm, Texas Instruments is giving up short-term profit for what it says will be faster growth from investing in its core business of making chips for wireless phones and electronic devices.
|
|
|
Home Depot buys Chem-Dry carpet cleaning
Jan 9 2006 4:23PM (CT)
ATLANTA (AP) - The Home Depot Inc., the nation's largest home improvement store chain, said Monday it has bought the Chem-Dry carpet and upholstery cleaning provider to add to its home installation business.
|
|
|
Tyco shares up on report mulling breakup
Jan 9 2006 4:16PM (CT)
TRENTON, N.J. (AP) - Shares of the conglomerate Tyco International Ltd. rose almost 4 percent Monday after a published report said the company was considering splitting itself into three separate entities.
|
|
|
Toyota shows redesigned 2007 Camry
Jan 9 2006 4:15PM (CT)
DETROIT (AP) - Seeking to put an end to the idea that the No. 1 selling car in the United States is too vanilla for many who drive it, Toyota on Monday unveiled the fully redesigned 2007 Camry.
|
|
|
Duke to sell some power generation assets
Jan 9 2006 4:10PM (CT)
CHARLOTTE, N.C. (AP) - Duke Energy Corp. said Monday it will sell its unprofitable North American wholesale power generation assets outside the Midwest for about $1.5 billion to a subsidiary of LS Power Equity Partners.
|
|
|
AmeriDebt founder to settle with the FTC
Jan 9 2006 3:59PM (CT)
GREENBELT, Md. (AP) - The founder of the credit counseling firm AmeriDebt on Monday agreed to pay $35 million to settle suits filed by regulators and former customers over $172 million in allegedly hidden fees the company collected from financially strapped debtors.
|
|
|
Delta bankruptcy judge takes medical leave
Jan 9 2006 3:07PM (CT)
ATLANTA (AP) - The judge overseeing Delta Air Lines Inc.'s bankruptcy case, who had ruffled feathers among the company's pilots with comments about their high pay, is taking a two-month medical leave of absence, a court official said Monday.
|
|
|
GM says European sales higher in 2005
Jan 9 2006 2:12PM (CT)
FRANKFURT, Germany (AP) - Automaker General Motors Corp. said Monday that it increased its sales and market share in Europe during 2005.
|
|
|
Group of investors files suit vs. Shell
Jan 9 2006 1:38PM (CT)
AMSTERDAM, Netherlands (AP) - A group of major European shareholders is suing Royal Dutch Shell PLC for several hundred million dollars in damages after the company's 2004 oil reserves accounting scandal, their lawyers said Monday.
|
|
|
CNOOC announces $2.3B Nigeria investment
Jan 9 2006 12:39PM (CT)
BEIJING (AP) - Chinese state-controlled oil company CNOOC Ltd. said Monday it is paying $2.3 billion for a 45 percent stake in a Nigerian oil field in its first major investment since its failed bid to take over Unocal Corp. last year.
|
|
|
GM picks Tenn. plant to make Saturn SUV
Jan 9 2006 12:24PM (CT)
SPRING HILL, Tenn. (AP) - General Motors Corp. has picked its production plant in Spring Hill to make the gas-electric hybrid version of the Vue sport utility vehicle, the company said Monday.
|
|
|
BMW sales up nearly 10 percent in 2005
Jan 9 2006 12:18PM (CT)
FRANKFURT, Germany (AP) - German luxury automaker BMW AG said Monday that its sales in 2005 were up 9.9 percent from the previous year, with demand for its popular series of sedans leading the increase.
|
|
|
Court holds up delivery of documents
Jan 9 2006 12:02PM (CT)
BERN, Switzerland (AP) - The Swiss supreme court said Monday it has blocked the transfer of bank documents to Russia for its investigation into the shattered Yukos oil company because Moscow has provided insufficient evidence of wrongdoing.
|
|
|
NYSE taps Bear Wagner as NYSE specialist
Jan 9 2006 10:54AM (CT)
NEW YORK (AP) - The New York Stock Exchange chose Bear Wagner Specialists LLC to deal in the Big Board's own stock once the NYSE completes its planned acquisition of Archipelago Holdings Inc.
|
|
|
Duke to sell some assets for $1.5 billion
Jan 9 2006 10:50AM (CT)
CHARLOTTE, N.C. (AP) - Following through on a pledge to shed most of its merchant power plants, Duke Energy Corp. said Monday it will sell its North American wholesale power generation assets outside the Midwest for about $1.5 billion to a subsidiary of LS Power Equity Partners.
|
|
|
Stocks rise as investors await earnings
Jan 9 2006 9:57AM (CT)
NEW YORK (AP) - Stocks opened the week slightly higher Monday as investors awaited economic and corporate news to help them decide whether to extend the market's 2006 rally.
|
|
|
German exports jump 8 percent in November
Jan 9 2006 9:46AM (CT)
BERLIN (AP) - German exports rose almost 8 percent in November from a year earlier, and the monthly total rose above 70 billion euros ($85 billion) for the first time, government figures released Monday showed.
|
|
|
Pakistan sells top phone co. for $2.6B
Jan 9 2006 9:43AM (CT)
ISLAMABAD, Pakistan (AP) - The Pakistani government has agreed to sell a controlling stake in the country's top phone company to a Middle Eastern rival for $2.6 billion, sealing Pakistan's biggest deal to date under sweeping reforms meant to woo foreign investors.
|
|
|
'Mother Tree' aided pistachio industry
Jan 9 2006 9:26AM (CT)
PARLIER, Calif. (AP) - In her prime, she was used to breed millions of disease-resistant trees, helping propel California's pistachio industry to international prominence.
|
|
|
Audi says 2005 deliveries of cars climb
Jan 9 2006 9:14AM (CT)
FRANKFURT, Germany (AP) - Luxury car maker Audi AG said Monday that sales and deliveries of its cars rose 6.4 percent in 2005, and predicted a similar increase for 2006.
|
|
|
Citibank Korea trading losses being probed
Jan 9 2006 8:55AM (CT)
SEOUL, South Korea (AP) - South Korea's financial watchdog said Monday it has been investigating Citibank Korea Inc. over derivatives trading losses worth more than 10 billion won ($10.2 million).
|
|
|
Toyota shuts down car factory in India
Jan 9 2006 8:49AM (CT)
BANGALORE, India (AP) - Japanese automaker Toyota Motor Corp. indefinitely shut down its vehicle factory near the southern Indian city of Bangalore after workers went on strike last week to protest the dismissal of three employees, an executive at the plant said Monday.
|
|
|
Lingbao Gold prices IPO at top of range
Jan 9 2006 8:47AM (CT)
HONG KONG (AP) - Chinese gold producer Lingbao Gold Ltd. priced an initial public offering at 861 million Hong Kong dollars ($110 million), at the top of the range, as investors were eager to tap into rising gold prices.
|
|
|
Stamminger is named CEO of Adidas brand
Jan 9 2006 8:30AM (CT)
FRANKFURT, Germany (AP) - Sporting goods and apparel maker Adidas-Salomon AG said Monday that Erich Stamminger, who had once headed its American operations, was named president and chief executive of its core Adidas brand unit.
|
|
|
EU warns it will keep agencies 'on watch'
Jan 9 2006 7:53AM (CT)
BRUSSELS, Belgium (AP) - European Union officials have decided against proposing tighter controls over credit rating agencies, a spokesman for the group's administrative office aid Monday.
|
|
|
BASF begins takeover bid for Engelhard
Jan 9 2006 6:23AM (CT)
FRANKFURT, Germany (AP) - German chemical company BASF AG said Monday it had begun its $4.9 billion hostile takeover of Engelhard Corp. in a bid to increase its global materials production.
|
|
|
New year could bring economic changes
Jan 9 2006 6:15AM (CT)
WASHINGTON (AP) - People may feel less inclined to be big spenders this year as the housing market slips from its lofty perch, developments seen as producing slower, though still respectable, economic growth this year.
|
|
|
China revises 2004 economic growth rate
Jan 9 2006 5:16AM (CT)
SHANGHAI, China (AP) - China has revised its 2004 economic growth rate to 10.1 percent from 9.5 percent following the recent completion of an economic census, the National Statistics Bureau reported Monday.
|
|
|
China rail company plans express to Tibet
Jan 9 2006 5:10AM (CT)
SHANGHAI, China (AP) - Banking on the appetite of foreign and newly wealthy Chinese tourists for adventure, with five-star amenities, a Shanghai-based company plans to set up luxury express railway lines to Tibet's Himalayan capital, Lhasa.
|
|
|
Bolivia's Morales makes China overture
Jan 9 2006 1:08AM (CT)
BEIJING (AP) - Bolivia's president elect invited energy-hungry China on Sunday to help develop his country's vast gas reserves after his government carries out plans to nationalize them.
|
|
|
|
|
|