Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
Toshiba, subsidiary must pay $84M in suit
Mar 24 2005 10:29PM (CT)
SAN JOSE, Calif. (AP) - Electronics maker Toshiba Corp. and a subsidiary were ordered to pay Lexar Media Inc. $84 million in punitive damages Thursday for sharing trade secrets with another rival maker of flash memory chips used in digital cameras, music players and other devices.
|
|
|
Assets in doubt as judge mulls Kazaa trial
Mar 24 2005 10:08PM (CT)
SYDNEY, Australia (AP) - The music industry argued that owners of the Kazaa file-sharing software must be liable for millions in lost sales because their program is like putting a photocopier in a library where it clearly will be used for piracy.
|
|
|
UPS pilots union approves strike vote
Mar 24 2005 10:06PM (CT)
ATLANTA (AP) - The executive board of the pilot union at UPS, the world's largest shipping carrier, has approved holding a strike authorization vote after protracted contract talks between the two sides broke down, the union said Thursday.
|
|
|
Tokyo stocks post modest gains; Dollar up
Mar 24 2005 9:29PM (CT)
TOKYO (AP) - Tokyo stocks were posting modest gains on Friday, led by blue-chip Japanese exporters that stand to benefit from a stronger dollar. The dollar was higher against the Japanese yen and euro.
|
|
|
Calif. attorney general files fourth suit
Mar 24 2005 9:16PM (CT)
LOS ANGELES (AP) - State Attorney General Bill Lockyer filed a securities fraud lawsuit Thursday against American Funds Distributors, alleging the firm paid brokerage houses to push its mutual funds to clients without disclosing the payments.
|
|
|
Mogul Wynn gets license for new resort
Mar 24 2005 8:30PM (CT)
LAS VEGAS (AP) - Casino developer Steve Wynn is back in business. The Nevada Gaming Commission on Thursday unanimously approved a gambling license for the $2.7 billion Wynn Las Vegas, clearing the way for Wynn to open his megaresort on April 28.
|
|
|
Yahoo lawyers ask court for protection
Mar 24 2005 8:11PM (CT)
SAN FRANCISCO (AP) - Lawyers for Yahoo Inc. asked a federal appeals court Thursday for legal protection for U.S.-based Internet portals whose content is protected by the First Amendment in the United States, but illegal in foreign countries.
|
|
|
Home Depot CEO received $28.5M
Mar 24 2005 8:04PM (CT)
WASHINGTON (AP) - Home Depot Inc. paid Chairman and Chief Executive Robert L. Nardelli $28.5 million in total compensation for fiscal 2004, a 28 percent jump from the $22.2 million he received the prior year.
|
|
|
Drug companies launch ad campaign
Mar 24 2005 7:35PM (CT)
NEW YORK (AP) - The 10 drug companies behind a recently established discount card for the uninsured are launching an advertising campaign to promote it. The ads for the Together Rx Access Card will appear on 12 cable networks, radio stations in 34 markets and newspapers in several cities next month. Roba Whiteley, executive director of Together Rx Access, declined to give the campaign's budget, saying the companies were "spending a robust amount."
|
|
|
United CEO says new fare hike may stay
Mar 24 2005 7:16PM (CT)
CHICAGO (AP) - High fuel costs and a fierce fare war continue to add to red ink at United Airlines, but the company's chief executive said Thursday the carrier could get a boost from a recent fare increase.
|
|
|
Kmart completes $12.3B Sears acquisition
Mar 24 2005 6:46PM (CT)
HOFFMAN ESTATES, Ill. (AP) - Kmart bought Sears, Roebuck and Co. for $12.3 billion on Thursday, combining two faded retail icons whose sales have been declining for years into the nation's third biggest retailer with $55 billion in annual sales.
|
|
|
Gap restates profit for past three years
Mar 24 2005 5:19PM (CT)
SAN FRANCISCO (AP) - Gap Inc. has restated its profit for the past three years to reflect a change in how the clothing retailer accounts for its store leases.
|
|
|
Flowserve fined $350,000 for violation
Mar 24 2005 5:18PM (CT)
WASHINGTON (AP) - Pump and valve maker Flowserve Corp. has agreed to pay a $350,000 civil fine to settle federal regulators' charges that it illegally disclosed financial information to stock analysts ahead of the public in November 2002. The company's CEO is paying $50,000.
|
|
|
Thursday's Commodities Roundup
Mar 24 2005 5:08PM (CT)
NEW YORK (AP) - Crude oil prices rebounded Thursday, aided by traders buying to cover short positions ahead of the Easter holiday weekend and by a refinery explosion in Texas that buoyed gasoline futures.
|
|
|
Yahoo to buy back up to $3B of stock
Mar 24 2005 4:14PM (CT)
SUNNYVALE, Calif. (AP) - Yahoo Inc., the Internet portal company, Thursday said it will buy back up to $3 billion, or 7 percent, of its stock over the next five years.
|
|
|
Pathmark shares surge on investor bailout
Mar 24 2005 4:14PM (CT)
NEW YORK (AP) - The stock of Pathmark Stores Inc. jumped Thursday after a firm founded by billionaire investor Ron Burkle agreed to take a minority stake in the supermarket chain for $150 million.
|
|
|
Yum Brands raises earnings view
Mar 24 2005 4:12PM (CT)
LOUISVILLE, Ky. (AP) - Yum! Brands Inc., the parent of Taco Bell, KFC and Pizza Hut, Thursday raised its first-quarter earnings outlook slightly due to strong sales.
|
|
|
Hyundai introduces two new cars at show
Mar 24 2005 4:08PM (CT)
NEW YORK (AP) - South Korean automaker Hyundai Motor Co., which enjoyed higher-than-average U.S. sales last year, hopes to increase its market share with two new cars introduced Thursday at the New York International Auto Show.
|
|
|
ConAgra to restate some results on errors
Mar 24 2005 3:44PM (CT)
OMAHA, Neb. (AP) - ConAgra Foods Inc. said Thursday it would restate its financial results for 2004 and the first half of fiscal 2005 because of income tax errors that could cost one of the nation's largest food companies up to $200 million.
|
|
|
Lexar shares skyrocket on Toshiba ruling
Mar 24 2005 3:43PM (CT)
NEW YORK (AP) - Shares of Lexar Media Inc. soared Thursday after a California jury found Japan's Toshiba Corp. guilty of stealing trade secrets from the maker of digital camera memory cards and computer flash drives.
|
|
|
General Electric boosts profit forecast
Mar 24 2005 3:42PM (CT)
STAMFORD, Conn. (AP) - General Electric Co. boosted its earnings forecast Thursday and moved ahead with a strategy of returning to double-digit profit growth by shedding slow-growth businesses and eying more lucrative opportunities.
|
|
|
Pepsi Bottling ups dividend by 60 percent
Mar 24 2005 3:40PM (CT)
SAN FRANCISCO (AP) - Pepsi Bottling Group Inc., the world's largest bottler of Pepsi beverages, Thursday said it raised its quarterly dividend by 3 cents to 8 cents and boosted a stock buyback.
|
|
|
Northrop raises outlook on stock sale
Mar 24 2005 3:39PM (CT)
LOS ANGELES (AP) - Defense contractor Northrop Grumman Corp. raised its 2005 profit outlook on Thursday to include a gain from the sale of shares in former subsidiary TRW Automotive Holdings Corp.
|
|
|
Ski industry hopes for solid season
Mar 24 2005 3:14PM (CT)
DENVER (AP) - Seung Hwang had been looking forward all season to snowboarding. But when Hwang and his college buddies arrived at Stevens Pass near here after driving all the way from Seattle, they found no snow. The lift _ for the busy the Martin Luther King Jr. holiday weekend in January _ was closed.
|
|
|
Retail money funds fell in latest week
Mar 24 2005 3:09PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $756.3 million in the latest week to $822.84 billion, the Investment Company Institute said Thursday.
|
|
|
30-year mortgage rise more than 6 percent
Mar 24 2005 3:04PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages this week climbed to their highest point since late July, rising just above the 6 percent mark.
|
|
|
Housing market in Europe skyrockets
Mar 24 2005 2:48PM (CT)
LONDON (AP) - Jack Bowley was tired of paying rent each month with nothing to show for it, and wanted to buy a home in London, where he works. But given how swiftly prices were rising, and how much of a down payment he would need for a mortgage, he couldn't reach even the first rung of the property ladder.
|
|
|
Higher mortgage rates may cool home market
Mar 24 2005 2:43PM (CT)
WASHINGTON (AP) - Rising mortgage rates will cool but not crush a national housing market that is still relatively hot, one of the economy's consistently good performers.
|
|
|
Retailer Ultimate Electronics to close
Mar 24 2005 2:22PM (CT)
THORNTON, Colo. (AP) - Consumer electronics retailer Ultimate Electronics Inc. will lay off more than 25 percent of its work force and close nearly half its stores as part of a bankruptcy reorganization.
|
|
|
Initial public offerings scheduled
Mar 24 2005 2:17PM (CT)
NEW YORK (AP) - The following is a list of initial public offerings planned for the coming week, as provided by MCM EquityWatch.
|
|
|
Irish PM: Workplace smoking ban a success
Mar 24 2005 2:04PM (CT)
DUBLIN, Ireland (AP) - Prime Minister Bertie Ahern on Thursday lauded Ireland's nearly year-old ban on workplace smoking as a world-leading measure that would benefit future generations.
|
|
|
Finmeccanica gets helicopter contract
Mar 24 2005 1:55PM (CT)
MILAN, Italy (AP) - Finmeccanica SpA of Italy said Thursday one if its units had been awarded a 1.5 billion euros ($1.9 billion) contract to supply helicopters to the United Kingdom.
|
|
|
New Mitsubishi boss: co. set for comeback
Mar 24 2005 1:45PM (CT)
NEW YORK (AP) - For someone whose Japanese employer has been plagued by defect-coverup scandals at home and plunging U.S. sales, the new boss at Mitsubishi Motors North America is surprisingly upbeat.
|
|
|
French court upholds Soros' conviction
Mar 24 2005 12:56PM (CT)
PARIS (AP) - Billionaire investor George Soros failed to erase the only legal blemish on a long financial career Thursday, when a French appeals court upheld his three-year-old conviction for insider trading.
|
|
|
London shares rise
Mar 24 2005 12:46PM (CT)
LONDON (AP) - Share prices were higher on the London Stock Exchange Thursday.
|
|
|
Fiat announces plan to focus on engines
Mar 24 2005 12:37PM (CT)
MILAN, Italy (AP) - Struggling Fiat SpA said Thursday it would focus its investments in its strongest business _ manufacturing engines and transmissions for cars.
|
|
|
Report: Adelphia nears SEC settlement
Mar 24 2005 11:50AM (CT)
NEW YORK (AP) - Adelphia Communications Corp., the nation's fifth largest cable TV systems company, is close to agreeing to pay about $725 million to the U.S. Justice Department and Securities and U.S. Exchange Commission to settle claims stemming from its corporate looting and accounting scandal, The Wall Street Journal reported in Thursday's editions.
|
|
|
Prudential removes Bloomer as chief exec
Mar 24 2005 11:38AM (CT)
LONDON (AP) - Insurance company Prudential PLC said Thursday it is removing Jonathan Bloomer as chief executive, following months of criticism from shareholders about his performance.
|
|
|
Mineworkers strike against Harmony Gold
Mar 24 2005 11:00AM (CT)
JOHANNESBURG, South Africa (AP) - About 21,000 Harmony Gold Mining Co. Ltd. mineworkers have gone on strike after mediation efforts with the union over pay and working conditions failed, the company said Thursday.
|
|
|
Two more former Enterasys execs indicted
Mar 24 2005 10:59AM (CT)
CONCORD, N.H. (AP) - A federal grand jury on Thursday charged two more former executives of Enterasys Networks Inc. with scheming to inflate the company's revenue to shore up its stock price.
|
|
|
Rigas sentencings reset for April
Mar 24 2005 10:12AM (CT)
NEW YORK (AP) - A federal judge has postponed the sentencings of Adelphia Communications Corp. founder John Rigas and his son Timothy, both convicted of fraud last summer, until April 18.
|
|
|
Red Lobster owner Darden profit rises
Mar 24 2005 9:47AM (CT)
ORLANDO, Fla. (AP) - Darden Restaurants Inc., the owner of Red Lobster and Olive Garden chains, reported Wednesday that profit jumped 20 percent in the fiscal third quarter, beating Wall Street estimates.
|
|
|
Oneida Ltd. CEO resigns, new chief named
Mar 24 2005 9:30AM (CT)
ONEDIA, N.Y. (AP) - The chief executive officer of Oneida Ltd. has resigned, and a new CEO has been named to help transform the company from a manufacturer into an importer, buying flatware from other makers and selling it under the Oneida name.
|
|
|
Study: Cost trumps choice in health care
Mar 24 2005 8:57AM (CT)
NEW YORK (AP) - Americans with employer-sponsored health insurance are becoming more willing to accept limits on their choice of providers in order to save on their medical expenses, a new study found.
|
|
|
Ex-exec of failed insurer pleads guilty
Mar 24 2005 8:54AM (CT)
SYDNEY, Australia (AP) - A former insurance executive pleaded guilty Thursday to charges linked to Australia's largest-ever corporate collapse.
|
|
|
HBO, New Line form venture with Newmarket
Mar 24 2005 8:44AM (CT)
LOS ANGELES (AP) - Two divisions of media conglomerate Time Warner Inc. have formed a joint venture to produce and market low-budget, edgy independent films.
|
|
|
Softbank fund's investment challenges bid
Mar 24 2005 8:35AM (CT)
TOKYO (AP) - Japanese Internet upstart Livedoor Co.'s hopes of building a domestic media empire suffered a setback Thursday after the radio broadcaster it targeted gave up control of a coveted TV network to an affiliate of Softbank Corp.
|
|
|
Regulator warns 5 cos. on unfair practices
Mar 24 2005 8:32AM (CT)
TOKYO (AP) - Japan's anti-monopoly regulator on Thursday ordered five major Japanese record label and software companies to stop an illegal attempt to dominate the domestic market in mobile phone ringtones.
|
|
|
Judge nixes town's water deal with Nestle
Mar 24 2005 8:11AM (CT)
SACRAMENTO, Calif. (AP) - A California judge has blocked a rural community's plan to sell more than a half billion gallons of spring water annually to Nestle SA, the world's largest food and beverage company, ruling it failed to pass environmental scrutiny before it was signed.
|
|
|
China ministries cooperate in network
Mar 24 2005 8:08AM (CT)
SHANGHAI, China (AP) - China has a new nationwide cable television network _ a venture born of cooperation between Beijing's powerful media watchdog and its technology ministry, an official said Thursday.
|
|
|
Satellite radio battle heats up on autos
Mar 24 2005 8:08AM (CT)
NEW YORK (AP) - The CD player, cruise control and heated seats are standard features on many new cars _ is the satellite radio far behind?
|
|
|
Putin seeks to calm nervous Russian chiefs
Mar 24 2005 7:41AM (CT)
MOSCOW (AP) - President Vladimir Putin sought to reassure Russia's jittery business leaders at a Kremlin meeting Thursday, promising to guarantee property rights and not to review the murky 1990s privatizations.
|
|
|
Detroit-area towns seek farm preservation
Mar 24 2005 6:52AM (CT)
RICHMOND TOWNSHP, Mich. (AP) - Five communities on the northern fringe of metropolitan Detroit are collaborating to preserve farmland from development.
|
|
|
Audi, Nissan battle over 'Q' model names
Mar 24 2005 6:41AM (CT)
DETROIT (AP) - Luxury automaker Audi wants to start using the letter Q for its models, a proposition that is making rival Nissan queasy.
|
|
|
Solvay to buy France's Fournier for $1.7B
Mar 24 2005 5:43AM (CT)
BRUSSELS, Belgium (AP) - Belgian pharmaceuticals and chemicals giant Solvay SA announced Thursday that it plans to buy France's fifth-largest pharmaceutical company Fournier Pharma for 1.3 billion euros ($1.7 billion) in cash.
|
|
|
|
|
|