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Buffett wants charities to spend fast
Mar 1 2007 11:52PM (CT)
OMAHA, Neb. (AP) - Warren Buffett, the world's second-richest man, wowed the world last summer when he announced that he plans to give away most of his $48.4 billion fortune, and now he wants to make sure those donations are spent quickly.
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Prosecutors crack insider-trading ring
Mar 1 2007 11:09PM (CT)
NEW YORK (AP) - Investigators have broken up what they call one of the biggest Wall Street insider-trading rings since the 1980s _ a sweeping, $15 million scandal that involved power brokers at some of the nation's top financial firms and two lawyers.
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Buffett plans to hire investment manager
Mar 1 2007 10:10PM (CT)
OMAHA, Neb. (AP) - Legendary investor Warren Buffett renewed speculation about who will replace him at Berkshire Hathaway Inc., saying Thursday in his annual shareholder letter that he plans to hire at least one young investment manager to help succeed him.
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Oil prices settle at $62 a barrel
Mar 1 2007 8:24PM (CT)
NEW YORK (AP) - Oil prices settled at $62 a barrel Thursday, the highest level in more than two months, as concerns over declining product supplies outweighed traders' worries about volatile global stock markets.
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Gap's 4Q profit plunges 35 percent
Mar 1 2007 7:08PM (CT)
SAN FRANCISCO (AP) - Gap Inc.'s fourth-quarter profit fell 35 percent in a gloomy performance that triggered a recent management purge and doomed the slumping retailer's newest chain. After releasing the results Thursday, the San Francisco-based company warned the upcoming year is likely to bring more turbulence as a new management team tries to stock Gap's stores with more appealing clothes while trimming expenses that had been rising on the expectation of higher sales.
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Gap's 4Q profit plunges 35 percent
Mar 1 2007 7:08PM (CT)
SAN FRANCISCO (AP) - Gap Inc.'s fourth-quarter profit fell 35 percent in a gloomy performance that triggered a recent management purge and doomed the slumping retailer's newest chain. After releasing the results Thursday, the San Francisco-based company warned the upcoming year is likely to bring more turbulence as a new management team tries to stock Gap's stores with more appealing clothes while trimming expenses that had been rising on the expectation of higher sales.
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Gap's 4Q profit plunges 35 percent
Mar 1 2007 7:08PM (CT)
SAN FRANCISCO (AP) - Gap Inc.'s fourth-quarter profit fell 35 percent in a gloomy performance that triggered a recent management purge and doomed the slumping retailer's newest chain. After releasing the results Thursday, the San Francisco-based company warned the upcoming year is likely to bring more turbulence as a new management team tries to stock Gap's stores with more appealing clothes while trimming expenses that had been rising on the expectation of higher sales.
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Manufacturing data calm investors
Mar 1 2007 6:57PM (CT)
WASHINGTON (AP) - A better than expected performance from the U.S. manufacturing sector in February helped calm investors on Thursday, even as economists cautioned that one month's worth of data is not a cause for too much optimism.
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AIG 4Q profit up more than eight-fold
Mar 1 2007 6:52PM (CT)
NEW YORK (AP) - American International Group Inc. on Thursday said fourth-quarter profit rose sharply a year after the world's largest insurer spent $1.64 billion to settle charges of improper accounting practices.
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Toyota, GM post sales gains in February
Mar 1 2007 6:50PM (CT)
DETROIT (AP) - The U.S. auto sales story line for nearly the past year has been Toyota Motor Corp. kicking the stuffing out of the Detroit Three, but there was a new twist in February. Yes, Toyota sales were up 12.2 percent, but General Motors Corp. showed a strong increase, surprising the industry by reporting a 3.7 percent year-over-year sales rise for the month.
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Toyota, GM post sales gains in February
Mar 1 2007 6:50PM (CT)
DETROIT (AP) - The U.S. auto sales story line for nearly the past year has been Toyota Motor Corp. kicking the stuffing out of the Detroit Three, but there was a new twist in February. Yes, Toyota sales were up 12.2 percent, but General Motors Corp. showed a strong increase, surprising the industry by reporting a 3.7 percent year-over-year sales rise for the month.
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Toyota, GM post sales gains in February
Mar 1 2007 6:50PM (CT)
DETROIT (AP) - The U.S. auto sales story line for nearly the past year has been Toyota Motor Corp. kicking the stuffing out of the Detroit Three, but there was a new twist in February. Yes, Toyota sales were up 12.2 percent, but General Motors Corp. showed a strong increase, surprising the industry by reporting a 3.7 percent year-over-year sales rise for the month.
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Toyota, GM post sales gains in February
Mar 1 2007 6:50PM (CT)
DETROIT (AP) - The U.S. auto sales story line for nearly the past year has been Toyota Motor Corp. kicking the stuffing out of the Detroit Three, but there was a new twist in February. Yes, Toyota sales were up 12.2 percent, but General Motors Corp. showed a strong increase, surprising the industry by reporting a 3.7 percent year-over-year sales rise for the month.
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Oracle to buy Hyperion for $3.3 billion
Mar 1 2007 6:46PM (CT)
SAN FRANCISCO (AP) - Business software maker Oracle Corp. will buy Hyperion Solutions Corp. for $3.3 billion in cash, renewing a shopping spree aimed at toppling rival SAP AG.
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Dell 4Q earnings, revenues drop
Mar 1 2007 6:43PM (CT)
DALLAS (AP) - Dell Inc., which is the subject of a federal probe into its finances, said Thursday that fourth-quarter profits plunged 33 percent due to weak sales of laptops and notebooks, which account for the lion's share of its revenues.
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Dell 4Q earnings, revenues drop
Mar 1 2007 6:43PM (CT)
DALLAS (AP) - Dell Inc., which is the subject of a federal probe into its finances, said Thursday that fourth-quarter profits plunged 33 percent due to weak sales of laptops and notebooks, which account for the lion's share of its revenues.
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House OKs bill easing union organizing
Mar 1 2007 5:38PM (CT)
WASHINGTON (AP) - Democrats rewarded organized labor Thursday for helping them retake control of Congress, passing a House bill that would make it easier for workers to start unions against companies' wishes.
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Kohl's 4Q profit up 29 percent
Mar 1 2007 5:11PM (CT)
MILWAUKEE (AP) - Kohl's Corp. reported a 29.3 percent profit increase in the fourth quarter, as the midlevel retailer benefited from strong sales of its exclusive brands.
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New card puts bank in immigration debate
Mar 1 2007 3:38PM (CT)
CHARLOTTE, N.C. (AP) - When news broke that Bank of America Corp. was testing a new credit card available to customers who may be illegal immigrants, the reaction was predictably harsh.
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More NYC restaurants shut in rat scandal
Mar 1 2007 3:07PM (CT)
NEW YORK (AP) - The parent company of KFC, Taco Bell and Pizza Hut said it had temporarily closed several New York City restaurants owned by the franchisee that operated a Manhattan eatery overrun last week by rats.
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More NYC restaurants shut in rat scandal
Mar 1 2007 3:07PM (CT)
NEW YORK (AP) - The parent company of KFC, Taco Bell and Pizza Hut said it had temporarily closed several New York City restaurants owned by the franchisee that operated a Manhattan eatery overrun last week by rats.
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More NYC restaurants shut in rat scandal
Mar 1 2007 3:07PM (CT)
NEW YORK (AP) - The parent company of KFC, Taco Bell and Pizza Hut said it had temporarily closed several New York City restaurants owned by the franchisee that operated a Manhattan eatery overrun last week by rats.
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More NYC restaurants shut in rat scandal
Mar 1 2007 3:07PM (CT)
NEW YORK (AP) - The parent company of KFC, Taco Bell and Pizza Hut said it had temporarily closed several New York City restaurants owned by the franchisee that operated a Manhattan eatery overrun last week by rats.
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InBev 4Q profit more than doubles
Mar 1 2007 2:17PM (CT)
LEUVEN, Belgium (AP) - InBev SA, the world's largest brewer and the maker of Stella Artois, Beck's and Brahma, said Thursday its fourth-quarter profit more than doubled as it increased sales across all regions except its home base in Western Europe.
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Sears 4Q profit rises 27 percent
Mar 1 2007 1:16PM (CT)
CHICAGO (AP) - Retailer Sears Holdings Corp. said Thursday its fourth-quarter earnings rose 27 percent, ahead of Wall Street forecasts as margins improved despite weaker sales at established stores.
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Sears 4Q profit rises 27 percent
Mar 1 2007 1:16PM (CT)
CHICAGO (AP) - Retailer Sears Holdings Corp. said Thursday its fourth-quarter earnings rose 27 percent, ahead of Wall Street forecasts as margins improved despite weaker sales at established stores.
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EU tries again to clear Sony BMG deal
Mar 1 2007 1:14PM (CT)
BRUSSELS, Belgium (AP) - EU regulators opened an in-depth probe Thursday into Sony Corp. and Bertelsmann AG's 2004 deal to merge their music units, saying officials needed to thoroughly analyze it to check if the record labels would have a monopoly position.
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Absolut Sale: Sweden selling vodka brand
Mar 1 2007 1:13PM (CT)
STOCKHOLM, Sweden (AP) - Thanks in part to its renowned advertising campaign, a vodka distilled in the southern Swedish town of Ahus has become the world's No. 3 premium spirit and one of the country's most recognizable brands.
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Absolut Sale: Sweden selling vodka brand
Mar 1 2007 1:13PM (CT)
STOCKHOLM, Sweden (AP) - Thanks in part to its renowned advertising campaign, a vodka distilled in the southern Swedish town of Ahus has become the world's No. 3 premium spirit and one of the country's most recognizable brands.
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U.S. Treasuries push higher
Mar 1 2007 12:47PM (CT)
NEW YORK (AP) - Prices for U.S. government treasuries pushed sharply higher Thursday as stocks opened weakly, but bonds lapsed back on unexpectedly strong data on U.S. manufacturing.
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U.S. manufacturing expanded in February
Mar 1 2007 12:47PM (CT)
WASHINGTON (AP) - The nation's manufacturing sector shook off the housing slowdown in February, expanding faster than expected and reversing the prior month's contraction, a trade group said Thursday.
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Paulson: China reforms too slow
Mar 1 2007 12:35PM (CT)
WASHINGTON (AP) - Treasury Secretary Henry Paulson said Thursday that China is moving too slowly to overhaul its currency system and to crack down on copyright piracy, two factors that American businesses blame for the soaring trade deficit with China.
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ADP CEO seeks return to stronger growth
Mar 1 2007 11:53AM (CT)
NEW YORK (AP) - The biggest goal at Automatic Data Processing, Inc., which processes pay for one of every six private sector workers in the United States, is returning to the growth of the past.
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ADP CEO seeks return to stronger growth
Mar 1 2007 11:53AM (CT)
NEW YORK (AP) - The biggest goal at Automatic Data Processing, Inc., which processes pay for one of every six private sector workers in the United States, is returning to the growth of the past.
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ADP CEO seeks return to stronger growth
Mar 1 2007 11:53AM (CT)
NEW YORK (AP) - The biggest goal at Automatic Data Processing, Inc., which processes pay for one of every six private sector workers in the United States, is returning to the growth of the past.
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Crash tests expose fender bender costs
Mar 1 2007 11:52AM (CT)
WASHINGTON (AP) - Those minor fender benders might cost more than you think, according to new crash tests released Thursday by the insurance industry.
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Lenovo recalls 100,000 laptop batteries
Mar 1 2007 10:51AM (CT)
RESEARCH TRIANGLE PARK, N.C. (AP) - Computer maker Lenovo Inc. on Thursday recalled about 100,000 lithium-ion batteries used in ThinkPad laptops after receiving four reports of the Sanyo-built batteries overheating.
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Lenovo recalls 100,000 laptop batteries
Mar 1 2007 10:51AM (CT)
RESEARCH TRIANGLE PARK, N.C. (AP) - Computer maker Lenovo Inc. on Thursday recalled about 100,000 lithium-ion batteries used in ThinkPad laptops after receiving four reports of the Sanyo-built batteries overheating.
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Viacom 4Q profit jumps on DreamWorks
Mar 1 2007 10:47AM (CT)
NEW YORK (AP) - MTV owner Viacom Inc.'s profits more than tripled in the fourth quarter following the addition of the DreamWorks studio last year, which swung its movie business to a profit.
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Europe threatens new Microsoft fines
Mar 1 2007 10:23AM (CT)
BRUSSELS, Belgium (AP) - The European Union threatened Microsoft Corp. on Thursday with fines as high as $4 million a day, claiming the software company was still not offering a fair deal to rivals seeking to make their products more compatible with Windows.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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World stocks fall for third day
Mar 1 2007 10:22AM (CT)
LONDON (AP) - European stocks fell Thursday, giving up earlier gains earlier in the day, amid persistent unease about the global economy and as U.S. stocks fell in early trading. Major Asian markets retreated for a third day.
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Greenspan: U.S. recession not 'probable'
Mar 1 2007 8:15AM (CT)
TOKYO (AP) - Former U.S. Federal Reserve Chairman Alan Greenspan told a Tokyo seminar on Thursday that he does not think economic slowdown in his country is "probable," toning down his earlier warning over a recession later this year.
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U.S. gov't fines Fisher-Price $975,000
Mar 1 2007 7:51AM (CT)
WASHINGTON (AP) - Fisher-Price Inc. has agreed to pay a $975,000 civil penalty for failing to report to the government that one of its toys posed a choking hazard to young children, the U.S. Consumer Product Safety Commission said Thursday.
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Stocks look to open narrowly mixed
Mar 1 2007 7:28AM (CT)
NEW YORK (AP) - Stocks looked to open narrowly mixed Thursday as somewhat skittish investors awaited a key economic reading on manufacturing and still looked to find their footing following Tuesday's selloff.
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Chinese stocks slip 2.9 percent to 2,797
Mar 1 2007 6:19AM (CT)
SHANGHAI, China (AP) - Chinese stocks fell back again Thursday, unable to maintain the previous day's rebound amid profit-taking and weak performances in other Asian markets.
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China may adjust labor camp system
Mar 1 2007 6:01AM (CT)
BEIJING (AP) - Chinese lawmakers will consider modifying a system that lets police send crime suspects to labor camps without trial, state media said Thursday.
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Farmers plant more corn, less soybeans
Mar 1 2007 5:02AM (CT)
DES MOINES, Iowa (AP) - Don Elsbernd is a savvy farmer who doesn't make hasty decisions about what to plant on his 1,000 acres in northeast Iowa. But this year, the choice to grow more corn and less soybeans seemed obvious. With corn prices soaring toward $4 per bushel because of the booming ethanol industry, Elsbernd and many other farmers are ready to cash in.
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Japanese still dominate auto ratings
Mar 1 2007 4:45AM (CT)
DETROIT (AP) - Consumer Reports' latest auto reliability and survey rankings find overall domination by Japanese automakers, strides from the Detroit Three and stumbles from Europe. The findings, released Wednesday and featured in the magazine's April issue, are based on more than 250 tested vehicles and data collected from 1.3 million subscribers' vehicles.
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Dollar lower vs. yen in Asian trading
Mar 1 2007 4:32AM (CT)
TOKYO (AP) - The dollar fell against the yen in Asia Thursday as Asian stocks markets slid, fueling concerns among currency players that U.S. stock prices may start falling again.
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Ford says restructuring to cost $11.18B
Mar 1 2007 4:16AM (CT)
WASHINGTON (AP) - Ford Motor Co. said Wednesday that its restructuring plan would likely cost $11.18 billion, with more than half of the expenses devoted to programs for laid-off workers.
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$8.6 billion acquisition of Qantas OK'd
Mar 1 2007 4:10AM (CT)
SYDNEY, Australia (AP) - The proposed $8.6 billion acquisition of Qantas Airways Ltd. by an investor group cleared a hurdle Thursday when the Australian competition watchdog said it will not oppose the sale.
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Report: China's migrants face abuse
Mar 1 2007 3:11AM (CT)
SHANGHAI, China (AP) - China's migrant workers are becoming an "urban underclass," held down by economic exploitation and residency rules that deny them access to medical, housing and education benefits, Amnesty International said in a report released Thursday.
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Report: China's migrants face abuse
Mar 1 2007 3:11AM (CT)
SHANGHAI, China (AP) - China's migrant workers are becoming an "urban underclass," held down by economic exploitation and residency rules that deny them access to medical, housing and education benefits, Amnesty International said in a report released Thursday.
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Report: China's migrants face abuse
Mar 1 2007 3:11AM (CT)
SHANGHAI, China (AP) - China's migrant workers are becoming an "urban underclass," held down by economic exploitation and residency rules that deny them access to medical, housing and education benefits, Amnesty International said in a report released Thursday.
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Japanese stocks slip; dollar declines
Mar 1 2007 2:52AM (CT)
TOKYO (AP) - Japanese stocks fell moderately Thursday as investors remained cautious despite Wall Street's overnight rebound from a global market selloff triggered by a drop in Chinese shares.
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Amgen shares cheap amid anemia drug woes
Mar 1 2007 12:22AM (CT)
PHILADELPHIA (AP) - Amgen Inc. shares have been anemic lately amid worries that sales of the company's blockbuster anti-anemia drugs might slow because of competition and safety concerns. Now, some analysts and investors say shares of the Thousand Oaks, Calif., biotechnology giant look like a bargain.
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Conference attempts to foster innovation
Mar 1 2007 12:15AM (CT)
KANSAS CITY, Mo. (AP) - One day a company called KCBioMedix could produce technology that helps teach babies to nurse. Another, called ImmunoGenetix Therapeutics, could develop an HIV vaccine. The challenge for both will be figuring out a way to tap into grant money, build a promising idea into a viable company, and catch the attention of investors who can provide the economic means to take their innovations to market.
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