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Latest Business News Archives for March 13, 2008

Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Maui drivers watch gas prices reach $4
Mar 13 2008 11:11PM (CT)
WAILUKU, Hawaii (AP) - "Maui No Kai Oi" is a popular Hawaiian saying that means Maui is the best. Mike Sweeney recently moved to this idyllic island from Denver and was hit with the other side of living in paradise with his first visit to the gas pump: Maui is also No. 1 in gas prices.
 
Oil falls from record $111 a barrel
Mar 13 2008 11:05PM (CT)
SINGAPORE (AP) - Oil prices retreated Friday from a record of $111 a barrel hit in the previous session as investors fled the declining dollar in search of a haven in commodities.
 
Oil falls from record $111 a barrel
Mar 13 2008 11:05PM (CT)
SINGAPORE (AP) - Oil prices retreated Friday from a record of $111 a barrel hit in the previous session as investors fled the declining dollar in search of a haven in commodities.
 
Southwest repairs 4 planes for cracks
Mar 13 2008 8:20PM (CT)
DALLAS (AP) - Four of the planes that Southwest Airlines Co. grounded for inspections this week were found to have cracks in their fuselages and were undergoing repair, the company said Thursday.
 
Former National Century execs convicted
Mar 13 2008 7:18PM (CT)
COLUMBUS, Ohio (AP) - Five former executives of a health care company were convicted Thursday in a $1.9 billion fraud scheme that prosecutors likened to large white-collar crime cases like Enron or WorldCom.
 
Congress members question plea in blast
Mar 13 2008 7:09PM (CT)
HOUSTON (AP) - A congressional committee is investigating a much criticized plea deal that proposes to fine oil giant BP PLC $50 million for its criminal responsibility in a deadly 2005 explosion at its Texas City refinery.
 
Citi CEO paid $3.16M compensation in '07
Mar 13 2008 7:05PM (CT)
NEW YORK (AP) - Citigroup Inc.'s new chief executive Vikram Pandit received $3.16 million in total compensation during 2007 _ the year that started with him running his own hedge fund and ended with him at the top of the largest U.S. bank by assets.
 
Game maker EA's Take-Two bid now hostile
Mar 13 2008 7:04PM (CT)
NEW YORK (AP) - The heat is on: Electronic Arts Inc.'s $2 billion bid for "Grand Theft Auto" maker Take-Two Interactive Software Inc. turned hostile Thursday as EA took its $26-per-share offer directly to Take-Two shareholders.
 
Nike still sees China labor challenges
Mar 13 2008 6:14PM (CT)
PORTLAND, Ore. (AP) - Despite improvements in worker rights laws in China, Nike Inc. says significant problems remain there in working conditions and with managers not meeting Nike's standards.
 
Nike still sees China labor challenges
Mar 13 2008 6:14PM (CT)
PORTLAND, Ore. (AP) - Despite improvements in worker rights laws in China, Nike Inc. says significant problems remain there in working conditions and with managers not meeting Nike's standards.
 
Carlyle Capital woes signals trouble
Mar 13 2008 5:20PM (CT)
NEW YORK (AP) - A mortgage-backed investment fund created by the Carlyle Group faltered near collapse Thursday, in what analysts saw as a sign that more bad investments need to be cleared out before markets can begin righting themselves.
 
Treasurys off after S&P issues forecast
Mar 13 2008 4:35PM (CT)
NEW YORK (AP) - Treasury prices plunged Thursday after Standard & Poor's Ratings Services said financial firms may be nearing the end of write-downs of subprime asset-backed securities.
 
Treasurys off after S&P issues forecast
Mar 13 2008 4:35PM (CT)
NEW YORK (AP) - Treasury prices plunged Thursday after Standard & Poor's Ratings Services said financial firms may be nearing the end of write-downs of subprime asset-backed securities.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Stricter mortgage rules proposed
Mar 13 2008 4:14PM (CT)
WASHINGTON (AP) - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.
 
Gold hits $1,000 after dollar falls
Mar 13 2008 3:40PM (CT)
NEW YORK (AP) - Gold briefly pushed past the psychologically important $1,000 mark Thursday, as investors poured money into the metal to hedge against a tumbling dollar, soaring crude prices and a shaky U.S. economy.
 
Car dealers pressured to combine
Mar 13 2008 2:27PM (CT)
DETROIT (AP) - For years, the Warren Central High School Warriors have counted on Gene Beltz's Shadeland Dodge for support.
 
Car dealers pressured to combine
Mar 13 2008 2:27PM (CT)
DETROIT (AP) - For years, the Warren Central High School Warriors have counted on Gene Beltz's Shadeland Dodge for support.
 
Car dealers pressured to combine
Mar 13 2008 2:27PM (CT)
DETROIT (AP) - For years, the Warren Central High School Warriors have counted on Gene Beltz's Shadeland Dodge for support.
 
Car dealers pressured to combine
Mar 13 2008 2:27PM (CT)
DETROIT (AP) - For years, the Warren Central High School Warriors have counted on Gene Beltz's Shadeland Dodge for support.
 
Car dealers pressured to combine
Mar 13 2008 2:27PM (CT)
DETROIT (AP) - For years, the Warren Central High School Warriors have counted on Gene Beltz's Shadeland Dodge for support.
 
Home prices plunge across California
Mar 13 2008 2:11PM (CT)
LOS ANGELES (AP) - Median home prices plunged in many of California's most populous counties in February, with Southern California leading the slide with an overall drop of 17.9 percent compared to a year earlier, according to new housing data released Thursday.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Dollar's clout sinks worldwide
Mar 13 2008 2:04PM (CT)
SAO PAULO, Brazil (AP) - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.
 
Gold hits record $1,000 an ounce
Mar 13 2008 1:20PM (CT)
NEW YORK (AP) - Bargain-hunting at the local jewelry store just got harder.
 
Gold hits record $1,000 an ounce
Mar 13 2008 1:20PM (CT)
NEW YORK (AP) - Bargain-hunting at the local jewelry store just got harder.
 
Gold hits record $1,000 an ounce
Mar 13 2008 1:20PM (CT)
NEW YORK (AP) - Bargain-hunting at the local jewelry store just got harder.
 
Gold hits record $1,000 an ounce
Mar 13 2008 1:20PM (CT)
NEW YORK (AP) - Bargain-hunting at the local jewelry store just got harder.
 
Chrysler plans summer shutdown
Mar 13 2008 12:06PM (CT)
DETROIT (AP) - Chrysler LLC is telling employees worldwide to take a mandatory two-week vacation in July.
 
Euro, yen climb against dollar
Mar 13 2008 11:46AM (CT)
FRANKFURT, Germany (AP) - Widespread concern about the outlook for the U.S. economy pushed the euro to a new record and the yen to 12-year highs against the U.S. dollar Thursday, while gold and oil prices also surged.
 
Mortgage rates jump again
Mar 13 2008 10:29AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages increased this week for the fourth time in the past five weeks.
 
Mortgage rates jump again
Mar 13 2008 10:29AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages increased this week for the fourth time in the past five weeks.
 
Gold at $1,000 on weak dollar, high oil
Mar 13 2008 10:02AM (CT)
NEW YORK (AP) - Gold futures hit $1,000 an ounce for the first time Thursday, pushed past the benchmark by the sinking dollar and record crude oil prices.
 
Global markets tumble
Mar 13 2008 8:13AM (CT)
LONDON (AP) - European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
 
Global markets tumble
Mar 13 2008 8:13AM (CT)
LONDON (AP) - European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
 
Global markets tumble
Mar 13 2008 8:13AM (CT)
LONDON (AP) - European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
 
Global markets tumble
Mar 13 2008 8:13AM (CT)
LONDON (AP) - European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
 
Global markets tumble
Mar 13 2008 8:13AM (CT)
LONDON (AP) - European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
 
Global markets tumble
Mar 13 2008 8:13AM (CT)
LONDON (AP) - European and Asian markets tumbled and Wall Street headed for a sharply lower opening Thursday as Carlyle Capital appeared close to collapse, the dollar plunged against foreign currencies and oil hovered near record highs.
 
VW sets sales target, considers US plant
Mar 13 2008 7:33AM (CT)
WOLFSBURG, Germany (AP) - Volkswagen AG aims to sell 8 million cars a year by 2011 _ almost 30 percent more than last year _ and will introduce 20 more models including vans, pickups and sport utility vehicles in a bid to expand its market share in Asia, Europe and North America.
 
Stock futures sink ahead of opening
Mar 13 2008 7:07AM (CT)
NEW YORK (AP) - Wall Street headed for a sharply lower opening Thursday, following the example of markets around the world as the dollar continued its descent and worries about the U.S. economy reasserted themselves.
 
New color $5 bills come out today
Mar 13 2008 6:45AM (CT)
WASHINGTON (AP) - Abraham Lincoln is getting a little color in his cheeks. New $5 bills bearing the gaunt visage of the nation's 16th president _ but with some touches of color added _ are making their way to banks and cash registers near you.
 
US foreclosure activity rose in February
Mar 13 2008 6:41AM (CT)
LOS ANGELES (AP) - Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates, a research firm said.
 
Nestle raises outlook for 2008
Mar 13 2008 6:31AM (CT)
VEVEY, Switzerland (AP) - Nestle says it expects to equal last year's growth of 7 percent.
 
SocGen trader released after questioning
Mar 13 2008 6:25AM (CT)
PARIS (AP) - A Societe Generale employee who worked with Jerome Kerviel, the trader blamed for massive losses at the French bank, was released Thursday without charge after questioning, judicial officials said.
 
China shares fall on tightening fears
Mar 13 2008 6:11AM (CT)
SHANGHAI, China (AP) - Chinese stocks fell to nearly an eight-month low on Thursday as investors unloaded shares on fears over monetary tightening and lower corporate earnings growth.
 
China shares fall on tightening fears
Mar 13 2008 6:11AM (CT)
SHANGHAI, China (AP) - Chinese stocks fell to nearly an eight-month low on Thursday as investors unloaded shares on fears over monetary tightening and lower corporate earnings growth.
 
Emu ranching struggles to take flight
Mar 13 2008 6:08AM (CT)
BISMARCK, N.D. (AP) - Emu ranchers had hoped the arguably ugly birds with useless wings would take flight in agribusiness. But emu ranching _ like some other types of nontraditional livestock operations_ is struggling to take off.
 
Toyota chief: Growth behind quality woes
Mar 13 2008 5:36AM (CT)
TOKYO (AP) - Toyota's president acknowledged the company's rapid global growth was partly behind a surge in problems that has plagued the Japanese automaker in recent years.
 
Japan lower house OKs bank chief nominee
Mar 13 2008 5:33AM (CT)
TOKYO (AP) - Japan's lower house of parliament approved Thursday the government's nominee for Bank of Japan chief, setting the stage for a political showdown with less than a week left in the current governor's term.
 
Japan lower house OKs bank chief nominee
Mar 13 2008 5:33AM (CT)
TOKYO (AP) - Japan's lower house of parliament approved Thursday the government's nominee for Bank of Japan chief, setting the stage for a political showdown with less than a week left in the current governor's term.
 
Japan's stocks dive on weak dollar
Mar 13 2008 5:29AM (CT)
TOKYO (AP) - Japan's main stock index plunged to its lowest close in 2 1/2 years Thursday, as market anxieties were stirred by the dollar's dive against the yen and by persistent concerns about the U.S. economy.
 
Dollar falls below 100 yen
Mar 13 2008 5:28AM (CT)
TOKYO (AP) - The dollar dipped below 100 yen for the first time in 12 years Thursday amid growing worries about a U.S. economic slowdown and expectations for lower U.S. interest rates.
 
Southwest grounds dozens of jets
Mar 13 2008 5:23AM (CT)
DALLAS (AP) - Southwest Airlines Co. canceled flights Wednesday and temporarily grounded 43 planes to examine if they were sound enough to carry passengers, the latest twist in the low-cost carrier's saga of missed safety inspections and civil penalties.
 
Southwest grounds dozens of jets
Mar 13 2008 5:23AM (CT)
DALLAS (AP) - Southwest Airlines Co. canceled flights Wednesday and temporarily grounded 43 planes to examine if they were sound enough to carry passengers, the latest twist in the low-cost carrier's saga of missed safety inspections and civil penalties.
 
US foreclosure activity rose in February
Mar 13 2008 4:02AM (CT)
LOS ANGELES (AP) - Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, with Nevada, California and Florida showing the highest foreclosure rates, a research firm said Wednesday.
 
Reports: Samsung chairman's son cleared
Mar 13 2008 1:16AM (CT)
SEOUL, South Korea (AP) - Special prosecutors probing an array of alleged wrongdoing by Samsung Group have cleared the son of its chairman and other executives over claims they committed breach of trust by offsetting losses at a failed e-business venture, news reports said Thursday.
 
   

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