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China banks lend $14B for storm relief
Mar 5 2008 11:07PM (CT)
BEIJING (AP) - Chinese banks have lent more than 102 billion yuan ($14.4 billion) to help rebuild areas battered by winter storms, a state news agency reported Thursday.
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China banks lend $14B for storm relief
Mar 5 2008 11:07PM (CT)
BEIJING (AP) - Chinese banks have lent more than 102 billion yuan ($14.4 billion) to help rebuild areas battered by winter storms, a state news agency reported Thursday.
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Lynch faulted in Fidelity gifts probe
Mar 5 2008 11:04PM (CT)
BOSTON (AP) - Federal regulators on Wednesday fined Fidelity Investments $8 million and brought civil charges against former star money manager Peter Lynch and 12 others for receiving improper gifts from outside brokers vying to win Fidelity's lucrative trading business.
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Ford workers to get bonuses
Mar 5 2008 8:44PM (CT)
DETROIT (AP) - Even though it lost $2.7 billion last year, Ford Motor Co. will pay performance bonuses to all hourly and salaried workers in the U.S. and Canada, and to its management team around the globe, the automaker's chief executive announced Wednesday.
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Ambac split avoided in capital plan
Mar 5 2008 6:09PM (CT)
NEW YORK (AP) - Ambac Financial Group Inc.'s plan to try to sell $1.5 billion in stock in a bid to safeguard its critical "AAA" financial-strength rating has also avoided the specter of splitting the company to raise the capital.
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Merrill to close lender First Franklin
Mar 5 2008 6:08PM (CT)
NEW YORK (AP) - Merrill Lynch & Co. said on Wednesday it will stop funding loans at its troubled First Franklin home lending unit, and explore selling the company it bought for $1.3 billion at the real estate market's peak.
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Treasurys hit by Ambac stock sale plan
Mar 5 2008 5:45PM (CT)
NEW YORK (AP) - Treasury prices fell sharply Wednesday after struggling bond insurer Ambac Financial Group Inc., seeking to shore up its finances, announced a plan to sell $1.5 billion in stock and equity units.
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Air Force: Foreign tanker bests US rival
Mar 5 2008 5:19PM (CT)
WASHINGTON (AP) - The European refueling tanker that won a $35 billion Pentagon contract last week "was clearly a better performer" than its U.S. rival, Air Force Secretary Michael Wynne told lawmakers Wednesday.
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Air Force: Foreign tanker bests US rival
Mar 5 2008 5:19PM (CT)
WASHINGTON (AP) - The European refueling tanker that won a $35 billion Pentagon contract last week "was clearly a better performer" than its U.S. rival, Air Force Secretary Michael Wynne told lawmakers Wednesday.
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Gold hits record high on weak dollar
Mar 5 2008 5:12PM (CT)
NEW YORK (AP) - Gold prices shot up Wednesday, briefly surging to a new record just below $1,000 after the dollar tumbled lower and crude oil hit an all-time high, boosting the metal's appeal as a hedge against inflation.
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Court skeptical of passenger rights law
Mar 5 2008 5:05PM (CT)
NEW YORK (AP) - A federal appeals panel seemed impatient Wednesday with arguments supporting the first law in the nation requiring airlines to provide food, water, clean toilets and fresh air to passengers trapped in a plane delayed on the ground.
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Economic reports send dollar to new low
Mar 5 2008 5:04PM (CT)
NEW YORK (AP) - The dollar sank to another record low against the euro Wednesday, with a growing list of economic reports pointing to a worsening U.S. climate.
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Brazilian co. buying US beef processors
Mar 5 2008 5:04PM (CT)
SMITHFIELD, Va. (AP) - Smithfield Foods Inc. said Wednesday it is selling its beef operations for $565 million to Brazil's JBS SA, the second deal in two days for JBS which is becoming the largest meat processor in the United States.
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Brazilian co. buying US beef processors
Mar 5 2008 5:04PM (CT)
SMITHFIELD, Va. (AP) - Smithfield Foods Inc. said Wednesday it is selling its beef operations for $565 million to Brazil's JBS SA, the second deal in two days for JBS which is becoming the largest meat processor in the United States.
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Costco, BJ's post strong profits
Mar 5 2008 5:00PM (CT)
BOSTON (AP) - Warehouse clubs Costco and BJ's reported substantially higher profits on Wednesday, with both benefiting as cost-conscious shoppers worried about the economy shunned department stores and specialty retailers in favor of lower-priced alternatives.
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No production boost from OPEC
Mar 5 2008 4:12PM (CT)
VIENNA, Austria (AP) - OPEC on Wednesday accused the U.S. of economic "mismanagement" that it said is pushing oil prices to new record highs and rebuffed calls to boost output, laying the blame on the Bush administration.
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No production boost from OPEC
Mar 5 2008 4:12PM (CT)
VIENNA, Austria (AP) - OPEC on Wednesday accused the U.S. of economic "mismanagement" that it said is pushing oil prices to new record highs and rebuffed calls to boost output, laying the blame on the Bush administration.
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No production boost from OPEC
Mar 5 2008 4:12PM (CT)
VIENNA, Austria (AP) - OPEC on Wednesday accused the U.S. of economic "mismanagement" that it said is pushing oil prices to new record highs and rebuffed calls to boost output, laying the blame on the Bush administration.
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Oil jumps on surprise supply drop
Mar 5 2008 3:35PM (CT)
NEW YORK (AP) - Oil surged Wednesday, rising a remarkable $5 a barrel to a new record over $104 after the government reported a surprise drop in crude oil stockpiles and OPEC held production levels steady.
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Costco 2Q profit rises 31 pct
Mar 5 2008 2:21PM (CT)
SEATTLE (AP) - Costco Wholesale Corp.'s second-quarter profit rose 31 percent, as penny-pinching consumers looking for the cheapest gallon of gasoline filled up their tanks at the warehouse club operator.
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Credit Agricole reports big 4Q loss
Mar 5 2008 1:07PM (CT)
PARIS (AP) - French bank Credit Agricole SA reported $5 billion in write-downs Wednesday and a hefty fourth-quarter loss related to the credit crisis.
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BJ's Wholesale profit climbs sharply
Mar 5 2008 12:31PM (CT)
BOSTON (AP) - BJ's Wholesale Club Inc. said Wednesday that its fourth-quarter profit quadrupled, beating Wall Street expectations, as the nation's third-biggest warehouse club benefited from a retail environment that is favoring discount stores.
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BJ's Wholesale profit climbs sharply
Mar 5 2008 12:31PM (CT)
BOSTON (AP) - BJ's Wholesale Club Inc. said Wednesday that its fourth-quarter profit quadrupled, beating Wall Street expectations, as the nation's third-biggest warehouse club benefited from a retail environment that is favoring discount stores.
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Job discrimination complaints jump
Mar 5 2008 12:11PM (CT)
WASHINGTON (AP) - Federal job discrimination complaints filed by workers against private employers shot up 9 percent last year, the biggest annual increase since the early 1990s.
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US service sector shrank in February
Mar 5 2008 12:07PM (CT)
WASHINGTON (AP) - A trade group on Wednesday said the nation's service sector shrank less than economists expected in February.
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Saks profit surges on gain, sales hike
Mar 5 2008 10:40AM (CT)
NEW YORK (AP) - Saks Inc., the operator of Saks Fifth Avenue, reported Wednesday that its fourth-quarter profit almost doubled, helped by solid sales, cost controls and one-time gains.
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Retiree couple needs $225K for medical
Mar 5 2008 10:11AM (CT)
NEW YORK (AP) - A couple retiring this year will need about $225,000 in savings to cover medical costs in retirement, according to a study released Wednesday by Fidelity Investments.
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US stocks head for higher open
Mar 5 2008 8:20AM (CT)
NEW YORK (AP) - U.S. stocks headed toward a moderately higher open Wednesday as investors prepared for a flurry of economic figures on employment, factory orders and the state of the service sector.
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Reebok acquisition boosts Adidas 4Q
Mar 5 2008 7:08AM (CT)
BERLIN (AP) - Adidas AG said Wednesday that its fourth-quarter profit rose 62 percent on lower purchasing costs due to its acquisition of Reebok in 2006, but results from the German maker of athletic apparel and sporting goods fell below analyst expectations.
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Brazilian co. buying US beef processors
Mar 5 2008 7:02AM (CT)
KANSAS CITY, Mo. (AP) - National Beef Packing Co., the nation's fourth-largest beef processor, said Tuesday it is being acquired by Brazilian giant JBS SA in a cash and stock deal worth $560 million. JBS also said it plans to buy Smithfield Food Inc.'s beef business to form the largest meat processor in the U.S.
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Australia cancels US helicopter deal
Mar 5 2008 7:00AM (CT)
CANBERRA, Australia (AP) - Australia said Wednesday it canceled a contract to buy 11 navy Seasprite helicopters from U.S.-based Kaman Corp., claiming the aircraft are unsafe.
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Airport workers go on strike in Germany
Mar 5 2008 5:39AM (CT)
BERLIN (AP) - Scores of flights were canceled Wednesday after thousands of airport workers walked off their jobs at several German airports, part of a wider labor action to win higher pay for public service workers.
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Hogs help battle beetle in apple orchard
Mar 5 2008 5:12AM (CT)
CLAYTON TOWNSHIP, Mich. (AP) - Jim Koan has gone hog-wild in his battle against a beetle that threatens his 120-acre organic apple orchard.
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HK Disneyland targets Chinese yuppies
Mar 5 2008 4:57AM (CT)
HONG KONG (AP) - Hong Kong Disneyland hopes to reverse the fortunes of Disney's first theme park in China with a marketing campaign geared toward young, well-to-do Chinese adults.
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HK Disneyland targets Chinese yuppies
Mar 5 2008 4:57AM (CT)
HONG KONG (AP) - Hong Kong Disneyland hopes to reverse the fortunes of Disney's first theme park in China with a marketing campaign geared toward young, well-to-do Chinese adults.
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Loans program for coal plants suspended
Mar 5 2008 3:56AM (CT)
BILLINGS, Mont. (AP) - The federal government is suspending a major loan program for coal-fired power plants in rural communities, saying the uncertainties of climate change and rising construction costs make the loans too risky.
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Study: Traffic crashes cost billions
Mar 5 2008 3:53AM (CT)
WASHINGTON (AP) - Traffic crashes cost American motorists more than $160 billion a year while inflicting a staggering per-person toll on small cities such as Little Rock, Ark., Columbia, S.C., and Pensacola, Fla., according to a AAA research report.
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Toyota asked to invest in jet project
Mar 5 2008 2:14AM (CT)
TOKYO (AP) - Japan's top automaker Toyota said Wednesday it has been asked to invest in a project to build the first "made in Japan" passenger aircraft in three decades.
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Toyota asked to invest in jet project
Mar 5 2008 2:14AM (CT)
TOKYO (AP) - Japan's top automaker Toyota said Wednesday it has been asked to invest in a project to build the first "made in Japan" passenger aircraft in three decades.
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China vows to control inflation
Mar 5 2008 2:11AM (CT)
BEIJING (AP) - China's premier called for "powerful measures" to rein in inflation that is battering ordinary Chinese and warned of risks from a global slowdown and the U.S. credit crisis.
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China vows to control inflation
Mar 5 2008 2:11AM (CT)
BEIJING (AP) - China's premier called for "powerful measures" to rein in inflation that is battering ordinary Chinese and warned of risks from a global slowdown and the U.S. credit crisis.
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China vows to control inflation
Mar 5 2008 2:11AM (CT)
BEIJING (AP) - China's premier called for "powerful measures" to rein in inflation that is battering ordinary Chinese and warned of risks from a global slowdown and the U.S. credit crisis.
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China vows to control inflation
Mar 5 2008 2:11AM (CT)
BEIJING (AP) - China's premier called for "powerful measures" to rein in inflation that is battering ordinary Chinese and warned of risks from a global slowdown and the U.S. credit crisis.
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Regulators cite construction loan fears
Mar 5 2008 2:09AM (CT)
WASHINGTON (AP) - Loans to homebuilders and other developers are the latest slice of the credit market under duress, and analysts say banks could face hundreds of millions of dollars in losses as a result.
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