Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
World markets plunge for second day
Feb 27 2007 11:39PM (CT)
TOKYO (AP) - Stock markets plunged across much of Asia for a second day Wednesday amid jitters about a sell-off in China's stock market and a worries about a possible slowdown in the Chinese and U.S. economies.
|
|
|
Swiftness of Dow drop due to computers
Feb 27 2007 10:44PM (CT)
NEW YORK (AP) - A computer glitch triggered a sudden plunge in the Dow Jones industrial average at mid-afternoon Tuesday, turning an already bad day in stocks into a head-turning spectacle.
|
|
|
Chrysler to offer workers up to $100K
Feb 27 2007 8:03PM (CT)
DETROIT (AP) - Chrysler Group will offer some of its 49,600 hourly U.S. workers at select plants up to $100,000 to leave the company as part of a recovery plan announced earlier this month. The company, which lost $1.475 billion in 2006 and said it expects losses to continue through 2007, said on Feb. 14 that it intends to shed 13,000 jobs, including 11,000 hourly positions and 2,000 salaried, as it tries to further shrink itself to match reduced demand for its products.
|
|
|
5 plead guilty in illegal workers case
Feb 27 2007 8:03PM (CT)
ALBANY, N.Y. (AP) - Five former managers from a major crate and pallet manufacturer pleaded guilty Tuesday to hiring illegal immigrants, part of a larger federal crackdown on employers who break the law to get cheap labor.
|
|
|
5 plead guilty in illegal workers case
Feb 27 2007 8:03PM (CT)
ALBANY, N.Y. (AP) - Five former managers from a major crate and pallet manufacturer pleaded guilty Tuesday to hiring illegal immigrants, part of a larger federal crackdown on employers who break the law to get cheap labor.
|
|
|
Toyota picks Mississippi for new plant
Feb 27 2007 7:55PM (CT)
TUPELO, Miss. (AP) - Toyota Motor Corp.'s Highlander sport utility vehicle should start rolling off the assembly line at a new, $1.3 billion plant in northeast Mississippi by 2010, company and state officials said Tuesday.
|
|
|
TXU 4Q profit up 33 percent
Feb 27 2007 7:54PM (CT)
DALLAS (AP) - For TXU Corp., higher fourth-quarter profits were eclipsed Tuesday by political wrangling over the pending sale of the company in what would be the largest private buyout ever.
|
|
|
Federated plans to change name to Macy's
Feb 27 2007 7:48PM (CT)
NEW YORK (AP) - Federated Department Stores Inc. reported strong fourth-quarter profits Tuesday and said it will change its name to Macy's Group Inc. But the department store operator _ still struggling to integrate former May Department Stores Co. stores _ offered a profit forecast well below Wall Street expectations.
|
|
|
Federated plans to change name to Macy's
Feb 27 2007 7:48PM (CT)
NEW YORK (AP) - Federated Department Stores Inc. reported strong fourth-quarter profits Tuesday and said it will change its name to Macy's Group Inc. But the department store operator _ still struggling to integrate former May Department Stores Co. stores _ offered a profit forecast well below Wall Street expectations.
|
|
|
El Paso 4Q loss widens on costs
Feb 27 2007 7:43PM (CT)
HOUSTON (AP) - El Paso Corp., the nation's largest natural gas pipeline company, on Tuesday posted a slightly wider loss in the fourth quarter than a year earlier as costs related to the sale of pipeline capacity offset gains in its core pipeline and exploration businesses.
|
|
|
Blockbuster 4Q profit drops on costs
Feb 27 2007 7:39PM (CT)
DALLAS (AP) - Movie-rental company Blockbuster Inc. said Tuesday its fourth-quarter earnings fell 28 percent, largely due to costs to launch and promote its growing online rental business. The company also said it is trying to resolve a dispute with chairman and chief executive John Antioco over his 2006 bonus.
|
|
|
Blockbuster 4Q profit drops on costs
Feb 27 2007 7:39PM (CT)
DALLAS (AP) - Movie-rental company Blockbuster Inc. said Tuesday its fourth-quarter earnings fell 28 percent, largely due to costs to launch and promote its growing online rental business. The company also said it is trying to resolve a dispute with chairman and chief executive John Antioco over his 2006 bonus.
|
|
|
Oil settles higher after volatile day
Feb 27 2007 6:38PM (CT)
NEW YORK (AP) - Oil prices finished slightly higher Tuesday, after a volatile day that saw prices fall by more than $1 per barrel and then rebound to a 2007 high.
|
|
|
Economists say recession unlikely
Feb 27 2007 6:29PM (CT)
WASHINGTON (AP) - Alan Greenspan and the Wall Street nosedive aside, economists think the probability of a U.S. recession this year is fairly low and the likelihood of one in China is even slimmer.
|
|
|
Wall Street still listens to Greenspan
Feb 27 2007 5:31PM (CT)
WASHINGTON (AP) - Judging from the markets, you'd hardly know Alan Greenspan has been gone from the Federal Reserve for more than a year. When he talks, Wall Street still listens.
|
|
|
GE CEO made more than $15M in 2006
Feb 27 2007 5:29PM (CT)
HARTFORD, Conn. (AP) - The chairman and chief executive of General Electric Co., the highly profitable conglomerate that produces aircraft engines and TV programming and provides health care and financial services, received $15.2 million in compensation last year, according to a company proxy filed Tuesday.
|
|
|
Sirius posts narrower 4Q loss
Feb 27 2007 5:28PM (CT)
NEW YORK (AP) - Sirius Satellite Radio Inc., which has agreed to acquire its rival XM Satellite Radio Holdings Inc., reported a narrower loss for the fourth quarter Tuesday as revenues more than doubled.
|
|
|
Advisers urge OK of bird flu vaccine
Feb 27 2007 2:34PM (CT)
WASHINGTON (AP) - It's better than nothing, federal health advisers said Tuesday in urging approval of the first bird flu vaccine as a stopgap against a potential pandemic until more effective vaccines can be developed.
|
|
|
CBS swings to 4Q profit, reveals buyback
Feb 27 2007 1:58PM (CT)
NEW YORK (AP) - CBS Corp., producer of "60 Minutes" and the hit crime series "CSI," swung to a profit in the fourth quarter from a year ago period that included a major charge to write down the value of its television and radio businesses, the company said Tuesday.
|
|
|
Harrah's posts profits for 4Q, 2006
Feb 27 2007 1:08PM (CT)
LAS VEGAS (AP) - Harrah's Entertainment Inc., the world's largest casino company by revenue, said Tuesday it swung to a fourth-quarter profit from a year-ago loss that included hurricane-related costs and write-offs for planned property sales.
|
|
|
Consumer confidence gains in February
Feb 27 2007 12:52PM (CT)
NEW YORK (AP) - Consumer confidence rose to its highest level in five-and-a-half years amid optimism that the nation's economy is creating enough jobs, a private research group said Tuesday.
|
|
|
Treasury prices gain as stocks fall
Feb 27 2007 12:48PM (CT)
NEW YORK (AP) - Treasury prices rose Tuesday as their safe returns attracted investors shaken by a drop in the Chinese stock market and concerns about the U.S. economy.
|
|
|
Tenet Healthcare 4Q loss widens
Feb 27 2007 11:06AM (CT)
DALLAS (AP) - Hospital operator Tenet Healthcare Corp. said Tuesday its fourth-quarter loss widened on impairment and restructuring charges.
|
|
|
DaimlerChrysler approves China auto deal
Feb 27 2007 9:59AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG, seeking to cut costs and boost sales in North America, said Tuesday it will start selling Chinese-made cars in that market and western Europe as it tries to meet demand for smaller, more economical vehicles.
|
|
|
Delphi losses widen in 4Q, all of 2006
Feb 27 2007 9:08AM (CT)
DETROIT (AP) - Struggling auto parts maker Delphi Corp. said Tuesday its losses widened to $853 million for the fourth quarter and to $5.5 billion for all of 2006.
|
|
|
Federated 4Q profit rises 5 percent
Feb 27 2007 8:51AM (CT)
CINCINNATI (AP) - Federated Department Stores Inc., parent of Macy's and Bloomingdale's, on Tuesday said stronger sales at established stores and lower costs drove a 5 percent rise in fourth-quarter earnings.
|
|
|
Federated 4Q profit rises 5 percent
Feb 27 2007 8:51AM (CT)
CINCINNATI (AP) - Federated Department Stores Inc., parent of Macy's and Bloomingdale's, on Tuesday said stronger sales at established stores and lower costs drove a 5 percent rise in fourth-quarter earnings.
|
|
|
RadioShack 4Q profit climbs 64 percent
Feb 27 2007 8:11AM (CT)
FORT WORTH, Texas (AP) - Electronics retailer RadioShack Corp. said Tuesday its fourth-quarter profit climbed 64 percent on lower costs despite a drop in revenue.
|
|
|
China stocks post biggest drop in decade
Feb 27 2007 8:10AM (CT)
SHANGHAI, China (AP) - China's volatile stock market plunged nearly 9 percent on Tuesday, its biggest drop in more than 10 years, sending ripples through markets from Hong Kong to Australia.
|
|
|
China stocks post biggest drop in decade
Feb 27 2007 8:10AM (CT)
SHANGHAI, China (AP) - China's volatile stock market plunged nearly 9 percent on Tuesday, its biggest drop in more than 10 years, sending ripples through markets from Hong Kong to Australia.
|
|
|
China stocks post biggest drop in decade
Feb 27 2007 8:10AM (CT)
SHANGHAI, China (AP) - China's volatile stock market plunged nearly 9 percent on Tuesday, its biggest drop in more than 10 years, sending ripples through markets from Hong Kong to Australia.
|
|
|
VW increases stake in MAN
Feb 27 2007 7:22AM (CT)
FRANKFURT, Germany (AP) - Volkswagen AG said Tuesday it has increased its stake in German truckmaker MAN AG to nearly 30 percent, a move that would give it a better say in guiding the company toward a friendly alliance with Swedish truckmaker Scania AB.
|
|
|
VW increases stake in MAN
Feb 27 2007 7:22AM (CT)
FRANKFURT, Germany (AP) - Volkswagen AG said Tuesday it has increased its stake in German truckmaker MAN AG to nearly 30 percent, a move that would give it a better say in guiding the company toward a friendly alliance with Swedish truckmaker Scania AB.
|
|
|
Report: FAW Group eyes stake in Chrysler
Feb 27 2007 4:18AM (CT)
SHANGHAI, China (AP) - Chinese automaker FAW Group Corp. refused comment Tuesday on a report it is considering bidding for a stake in DaimlerChrysler AG's ailing Chrysler Group.
|
|
|
Sunflower insurance program up in air
Feb 27 2007 3:52AM (CT)
BISMARCK, N.D. (AP) - Sunflower farmers hope improved oilseed market conditions for the upcoming growing season will persuade the federal government to keep an insurance program with only a few changes.
|
|
|
Ex-FDA chief Crawford faces sentencing
Feb 27 2007 3:36AM (CT)
WASHINGTON (AP) - A judge wants attorneys to explain why former FDA chief Lester Crawford shouldn't receive stiffer punishment than a $50,000 fine and probation for lying about stocks he owned in companies regulated by his agency.
|
|
|
Wal-Mart to buy stake in China retailer
Feb 27 2007 2:34AM (CT)
SHANGHAI, China (AP) - Wal-Mart is buying a 35 percent stake in a company that operates Trust-Mart, a major Chinese discount chain, as international competitors jostle for position in China's rapidly growing retail market.
|
|
|
|
|
|