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Asia stocks fall after sell-off in U.S.
Mar 13 2007 11:52PM (CT)
TOKYO (AP) - Asian stocks plunged Wednesday after Wall Street chalked its second-biggest drop in four years and rattled already nervous markets worldwide.
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Viacom sues YouTube over copyrights
Mar 13 2007 11:46PM (CT)
NEW YORK (AP) - Media conglomerate Viacom Inc. is suing YouTube for $1 billion, claiming that the video-sharing site had built a business by using the Internet to "willfully infringe copyrights on a huge scale."
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Oil prices hover around $58 a barrel
Mar 13 2007 11:41PM (CT)
SINGAPORE (AP) - Oil prices edged higher in Asian trading Wednesday ahead of U.S. government oil inventories data expected to show declines in some fuel stocks.
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Japanese stocks plunge nearly 3 percent
Mar 13 2007 10:24PM (CT)
TOKYO (AP) - Japanese stocks dipped sharply during Wednesday morning trading, falling in the wake of an overnight plunge on Wall Street. The dollar was lower against the yen. The benchmark Nikkei 225 index fell 512.04 points, or 2.98 percent, to 16,666.80 points on the Tokyo Stock Exchange by the end of morning session. The index had fallen 0.66 percent to finish at 17,178.84 points Tuesday.
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New Century subpoenaed, faces delisting
Mar 13 2007 8:43PM (CT)
LOS ANGELES (AP) - Subprime mortgage lender New Century Financial Corp., its financial footing crumbling, was all but kicked from the New York Stock Exchange Tuesday, while federal investigations into accounting errors and trading of its stock intensified.
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Two firms appear ahead for Chrysler buy
Mar 13 2007 5:20PM (CT)
DETROIT (AP) - Two private equity firms appear to be the front-runners in the quest to buy Chrysler Group, the troubled U.S. arm of DaimlerChrysler AG. Cerberus Capital Management LLC and a consortium of investors headed by Blackstone Group and Centerbridge Partners LP spent much of last week at Chrysler's Auburn Hills headquarters crunching numbers and meeting with top Chrysler executives, a company official said Tuesday.
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Late mortgage payments reach high
Mar 13 2007 5:19PM (CT)
WASHINGTON (AP) - Late mortgage payments shot up to a 3 1/2-year high in the final quarter of last year and new foreclosures surged to record levels as borrowers with tarnished credit histories had trouble keeping up with monthly payments.
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Goldman Sachs posts record 1Q profit
Mar 13 2007 5:18PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc., the largest Wall Street investment house, on Tuesday said its first-quarter profit rose 29 percent to a company record on robust trading gains and investment banking fees.
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Goldman Sachs posts record 1Q profit
Mar 13 2007 5:18PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc., the largest Wall Street investment house, on Tuesday said its first-quarter profit rose 29 percent to a company record on robust trading gains and investment banking fees.
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Goldman Sachs posts record 1Q profit
Mar 13 2007 5:18PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc., the largest Wall Street investment house, on Tuesday said its first-quarter profit rose 29 percent to a company record on robust trading gains and investment banking fees.
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Little movement in retail sales for Feb.
Mar 13 2007 4:28PM (CT)
WASHINGTON (AP) - Sales at the nation's retailers barely budged in February as bad winter weather kept already cautious shoppers away from the malls.
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Greenspan talk doesn't roil markets
Mar 13 2007 4:08PM (CT)
WASHINGTON (AP) - Alan Greenspan had a lot to say Tuesday about financial market turmoil, but by confining his observations to past crises, he made sure he didn't roil markets like he did two weeks ago.
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Greenspan talk doesn't roil markets
Mar 13 2007 4:08PM (CT)
WASHINGTON (AP) - Alan Greenspan had a lot to say Tuesday about financial market turmoil, but by confining his observations to past crises, he made sure he didn't roil markets like he did two weeks ago.
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Greenspan talk doesn't roil markets
Mar 13 2007 4:08PM (CT)
WASHINGTON (AP) - Alan Greenspan had a lot to say Tuesday about financial market turmoil, but by confining his observations to past crises, he made sure he didn't roil markets like he did two weeks ago.
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Greenspan talk doesn't roil markets
Mar 13 2007 4:08PM (CT)
WASHINGTON (AP) - Alan Greenspan had a lot to say Tuesday about financial market turmoil, but by confining his observations to past crises, he made sure he didn't roil markets like he did two weeks ago.
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Corned beef is big biz for St. Pat's
Mar 13 2007 2:18PM (CT)
CHICAGO (AP) - Others may identify this time of year with the last gasp of winter, the return of baseball, even the Ides of March.
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Corned beef is big biz for St. Pat's
Mar 13 2007 2:18PM (CT)
CHICAGO (AP) - Others may identify this time of year with the last gasp of winter, the return of baseball, even the Ides of March.
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Black confident in face of fraud trial
Mar 13 2007 1:45PM (CT)
TORONTO (AP) - Fallen media baron Conrad Black readily admits he helped his ninth-grade classmates cheat, selling purloined exams on a sliding scale, depending on their grades.
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Kroger 4Q profit jumps 36 pct
Mar 13 2007 11:36AM (CT)
CINCINNATI (AP) - Kroger Co., the nation's largest traditional grocer, said Tuesday that its fourth-quarter profit climbed 36 percent on strong sales growth amid tough competition.
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Revlon posts 4Q loss
Mar 13 2007 10:42AM (CT)
NEW YORK (AP) - Revlon Inc., the beauty products maker controlled by financier Ron Perelman, said Tuesday it swung to a fourth-quarter loss as U.S. sales declined and the company incurred restructuring charges and costs to discontinue its line of cosmetics for older women.
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Treasury prices climb on subprime woes
Mar 13 2007 10:28AM (CT)
NEW YORK (AP) - Treasury prices gained in morning trading Tuesday on continued concerns about the subprime mortgage market and after February retail sales came in below market expectations.
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Ranbaxy submits bid for Merck division
Mar 13 2007 8:30AM (CT)
FRANKFURT, Germany (AP) - Indian drugmaker Ranbaxy Laboratories Ltd. said Tuesday it has submitted a bid for the generics unit of Germany's Merck KGaA, but did not disclose how much it was offering.
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Paulson addresses top business leaders
Mar 13 2007 8:26AM (CT)
WASHINGTON (AP) - Treasury Secretary Henry Paulson said Tuesday a balance must be struck between ensuring the competitiveness of financial markets and protecting investors.
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Citigroup raises offer for Nikko Cordial
Mar 13 2007 7:30AM (CT)
TOKYO (AP) - Citigroup Inc., the largest bank in the United States, said Tuesday it raised its takeover offer for scandal-tainted Nikko Cordial Corp. by 26 percent in a deal worth up to $13.35 billion after the Japanese brokerage's largest shareholders rejected the initial price as too low.
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Stardust casino imploded in Las Vegas
Mar 13 2007 5:20AM (CT)
LAS VEGAS (AP) - The venerable Stardust casino-hotel on the Las Vegas Strip was imploded early Tuesday morning in a hail of fireworks to make way for Boyd Gaming Corp.'s $4.4 billion megaresort Echelon.
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Dollar lower against yen in Asia trading
Mar 13 2007 5:07AM (CT)
TOKYO (AP) - The dollar fell against the yen in Asian trading Tuesday as short-term focused Japanese and overseas players sold the dollar amid speculation that U.S. retail sales data might prove disappointing.
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Farmers gear up to plant massive corn crop
Mar 13 2007 4:24AM (CT)
WICHITA, Kan. (AP) - A burgeoning ethanol market has the nation's farmers gearing up to plant massive amounts of corn this spring, creating shortages of some popular biotech hybrid seeds.
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China tax reform said ready for vote
Mar 13 2007 12:15AM (CT)
BEIJING (AP) - Leaders of China's legislature have finished revisions of a law to end three decades of blanket tax breaks for foreign companies and are sending the measure to lawmakers for a final vote, a state news agency reported.
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New Discover card rewards consumers
Mar 13 2007 12:11AM (CT)
NEW YORK (AP) - Amid the growing proliferation of credit card rewards programs, Discover Financial Services has come up with a new card that rewards consumers who carry a balance and make their monthly payments on time.
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Hertz reports first quarter profit
Mar 13 2007 12:05AM (CT)
NEWARK, N.J. (AP) - Hertz Global Holdings Inc., the world's largest renter of cars, reported Monday night that it made a profit on record revenues in its first quarter since going public in November.
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World's third-richest man gaining wealth
Mar 13 2007 12:00AM (CT)
MEXICO CITY (AP) - The world's third-richest man, Carlos Slim, is gaining rapidly on Bill Gates and Warren Buffett with a fortune that grew $19 billion last year _ the largest wealth gain in the past decade tracked by Forbes magazine.
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