Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
Delphi proposes to close or sell plants
Mar 31 2006 9:54PM (CT)
DETROIT (AP) - Auto parts supplier Delphi Corp. unveiled a broad restructuring plan on Friday that would cut 8,500 salaried jobs, shut or sell a third of its plants worldwide and asks a bankruptcy court judge to void its labor agreements in a move that sent a shudder through the auto industry.
|
|
|
Experts see danger in rising oil prices
Mar 31 2006 8:38PM (CT)
WASHINGTON (AP) - Oil prices appear headed back toward $70 a barrel, a level not seen since Hurricane Katrina battered the Gulf Coast and sporadic shortages sent gasoline at the pump above $3 a gallon nationwide.
|
|
|
Microsoft makes progress in antitrust case
Mar 31 2006 7:58PM (CT)
BRUSSELS, Belgium (AP) - Microsoft Corp. said Friday it had made a breakthrough in its antitrust case with the European Union after an independent monitor outlined what it could do to stave off daily fines of $2.4 million.
|
|
|
Hollinger International reduces loss
Mar 31 2006 7:46PM (CT)
NEW YORK (AP) - Hollinger International Inc., the newspaper company formerly controlled by Conrad Black, reduced its net loss in 2005 to just under $12 million, according to its annual report released Friday.
|
|
|
Long winding road for Beatles' record co.
Mar 31 2006 7:44PM (CT)
LONDON (AP) - Apple Corps Ltd. is like a doting parent when it comes to The Beatles, looking after their interests and promoting their recordings, but it also makes sure no one tries to bully the Fab Four _ and straightens out anyone who messes with the band's legacy.
|
|
|
Johnson & Johnson recalls chemical
Mar 31 2006 7:18PM (CT)
WASHINGTON (AP) - Johnson & Johnson said Friday it was recalling a special chemical distributed to U.S. and foreign laboratories that may produce false negatives when used in hepatitis, HIV, pregnancy and other diagnostic tests.
|
|
|
Lucent-Alcatel merger concerns groups
Mar 31 2006 6:56PM (CT)
TRENTON, N.J. (AP) - If the current talks between telecommunications gear makers Lucent Technologies Inc. and Alcatel SA result in a merger, organizations representing nearly a quarter-million union workers and retirees want to ensure their security.
|
|
|
Judge OKs GM-UAW health care settlement
Mar 31 2006 6:29PM (CT)
DETROIT (AP) - A federal judge on Friday approved a settlement requiring union retirees of General Motors Corp. to pay more for their health care.
|
|
|
Bonds modestly rise after volatile week
Mar 31 2006 6:05PM (CT)
NEW YORK (AP) - Bond prices ended marginally higher Friday, as the market regained some equilibrium after a volatile week and shrugged off a brace of top-tier economic data and comments from a Federal Reserve official.
|
|
|
Friday's commodities roundup
Mar 31 2006 5:53PM (CT)
NEW YORK (AP) - Silver and gold slipped Friday at the New York Mercantile Exchange, easing back after shooting to multiyear highs a day earlier due to strong fund interest.
|
|
|
Infineon ahead on divesting operation
Mar 31 2006 5:18PM (CT)
FRANKFURT, Germany (AP) - Infineon Technologies AG said Friday it is two months ahead of schedule in preparing its memory chip operation to become a stand-alone business, and that it hopes to spin off the unit through an initial public offering.
|
|
|
Judge rejects Merck motion for mistrial
Mar 31 2006 5:10PM (CT)
ATLANTIC CITY, N.J. (AP) - Merck & Co. unsuccessfully appealed to a judge Friday to declare a mistrial in the case of two men who blame their heart attacks on Vioxx. The company had claimed a plaintiff's attorney tried to influence the jury by disclosing that his client had written letters to jurors thanking them for their service.
|
|
|
AT&T, BellSouth seek U.S. approval on deal
Mar 31 2006 5:04PM (CT)
ATLANTA (AP) - Allowing the parent companies of Cingular Wireless LLC to merge will help eliminate challenges they now face in managing the nation's largest cell phone provider, AT&T Inc. and BellSouth Corp. said in papers filed with the government Friday.
|
|
|
Judge rules for investors in Gabelli case
Mar 31 2006 5:02PM (CT)
NEW YORK (AP) - A judge has determined that money manager Mario Gabelli unfairly prevented two investors from selling their shares in his private company, Gabelli Group Capital Partners.
|
|
|
Regulators: Privacy notices too confusing
Mar 31 2006 5:00PM (CT)
WASHINGTON (AP) - The privacy notices stuffed into envelopes with bank and brokerage-firm statements and credit card bills aren't getting much of a reading from consumers and are too complicated for most to understand, regulators say.
|
|
|
Himax shares fall in post-IPO trading
Mar 31 2006 4:59PM (CT)
WASHINGTON (AP) - Shares of Himax Technologies Inc. struggled on Friday, the Taiwanese semiconductor designer's first day of trading as a public company.
|
|
|
Private-equity consortium drops ITV bid
Mar 31 2006 4:58PM (CT)
LONDON (AP) - A private-equity consortium dropped a bid for ITV PLC on Friday after the British TV broadcaster rejected its second approach.
|
|
|
Munich Re gets subsidiary confirmation
Mar 31 2006 4:52PM (CT)
FRANKFURT, Germany (AP) - German reinsurer Munich Re AG said Friday it has received a certificate from Russian regulators confirming the registration of a subsidiary company, the first step toward opening a branch in Moscow.
|
|
|
H&R Block to restate 2004, 2005 earnings
Mar 31 2006 4:44PM (CT)
KANSAS CITY, Mo. (AP) - H&R Block Inc. on Friday said that it was restating earnings for 2005 and 2004 to reflect previously reported mistakes on its own income taxes and that it was lowering third-quarter earnings because of added legal expenses.
|
|
|
Lennox shares up on analysts' prediction
Mar 31 2006 4:43PM (CT)
NEW YORK (AP) - Shares of Lennox International Corp. climbed Friday, after analysts predicted the company would see robust demand for residential heating and cooling equipment in the first quarter.
|
|
|
Whirlpool completes acquisition of Maytag
Mar 31 2006 4:41PM (CT)
DES MOINES, Iowa (AP) - Whirlpool Corp. completed its acquisition of Maytag Corp. on Friday and said it will immediately begin integrating the two appliance companies.
|
|
|
Shareholders OK Boston Scientific purchase
Mar 31 2006 4:35PM (CT)
BOSTON (AP) - U.S. and European regulatory approval is the final hurdle for Boston Scientific Corp.'s $27 billion acquisition of Guidant Corp. after shareholders on Friday approved the merger of the medical device makers.
|
|
|
FASB proposes rule on retirement benefits
Mar 31 2006 4:13PM (CT)
HARTFORD, Conn. (AP) - Companies will be forced to disclose more prominently whether they have set aside enough money for pensions and retirement benefits under an expected change in accounting rules that comes amid estimates that U.S. retirement plans are underfunded by $450 billion.
|
|
|
Mutual funds lead first-quarter winners
Mar 31 2006 4:08PM (CT)
NEW YORK (AP) - Wall Street's first-quarter stock market rally led U.S. mutual funds to solid returns for the year to date, with smaller company stock funds posting double digit returns China international funds and gold funds also performed above average.
|
|
|
Delphi plants proposal upsets employees
Mar 31 2006 4:02PM (CT)
DAYTON, Ohio (AP) - Delphi Corp. workers angered by the auto parts supplier's proposal Friday to close or sell many of its plants said the plan would ruin some employees' lives and hurt communities that rely on the facilities for jobs and tax revenues.
|
|
|
JPMorgan Chase boosts execs' compensation
Mar 31 2006 3:56PM (CT)
NEW YORK (AP) - JPMorgan Chase & Co., the nation's third largest bank, raised the compensation for its top executives in 2005, giving them bigger bonuses and large stock awards.
|
|
|
Court: Suit against Merck can go forward
Mar 31 2006 3:49PM (CT)
NEW YORK (AP) - Merck & Co. suffered a significant legal setback Friday when an appeals court ruled a nationwide class-action lawsuit can go forward that allows health insurers and others to sue to recover the billions of dollars they spent on Vioxx.
|
|
|
Stem cell agency draws ire over plan
Mar 31 2006 3:35PM (CT)
SAN FRANCISCO (AP) - What's in a name? Well, to the cash-strapped stem cell agency that Californians created with a 2004 ballot initiative, there could be tens of millions of dollars worth of contributions at stake.
|
|
|
IPOs scheduled to debut next week
Mar 31 2006 3:19PM (CT)
NEW YORK (AP) - The following is a list of initial public offerings planned for the coming week. Sources include Informa Global Markets EquityWatch and SEC filings.
|
|
|
Freddie Mac says it had strong year in '05
Mar 31 2006 3:13PM (CT)
WASHINGTON (AP) - Mortgage finance giant Freddie Mac, emerging from an accounting scandal, said Friday that it had a strong year in 2005 but acknowledged that it needs to make more progress in its financial controls and reporting.
|
|
|
Dollar rises against euro
Mar 31 2006 2:53PM (CT)
BERLIN (AP) - The dollar rose against the euro Friday, even as U.S. data showed consumer spending and income growth slowing, while a key inflation gauge showed little movement.
|
|
|
McClatchy rides on population growth plan
Mar 31 2006 2:35PM (CT)
NEW YORK (AP) - The McClatchy Co.'s strategy of cherry-picking newspapers in rapidly growing cities was long seen as a good idea for the mid-sized publisher, but not necessarily a model for the rest of the industry.
|
|
|
Judge orders Black to hand over docs
Mar 31 2006 2:30PM (CT)
CHICAGO (AP) - Indicted newspaper mogul Conrad Black has lost a bid to keep some documents out of the hands of federal prosecutors.
|
|
|
ABN Amro to delist Banca Antonveneta
Mar 31 2006 2:19PM (CT)
ROME (AP) - Dutch bank ABN Amro Holding NV said it expected to own enough shares to delist Banca Antonveneta SpA when its long takeover battle for the Italian lender ended Friday.
|
|
|
Italy's Parmalat names a new CFO
Mar 31 2006 1:28PM (CT)
MILAN, Italy (AP) - Parmalat SPA, the Italian dairy company recovering from a financial scandal, said Friday it has hired Pier Luigi De Angelis to replace Guido Angiolini as its chief financial officer.
|
|
|
VeraSun Energy plans IPO
Mar 31 2006 1:27PM (CT)
WASHINGTON (AP) - VeraSun Energy Corp., the nation's second-largest ethanol producer, plans to go public in an initial offering of stock worth up to $150 million.
|
|
|
China expresses regret over car complaints
Mar 31 2006 12:32PM (CT)
BEIJING (AP) - China on Friday expressed regret at U.S. and European Union complaints filed in an attempt to force Beijing to lower its duties on auto parts imports.
|
|
|
Satellite co. may impact Alcatel-Lucent
Mar 31 2006 12:23PM (CT)
PARIS (AP) - The French government voiced general support Friday for proposals to create a new European satellite company, a plan that may be delaying any merger agreement between telecom equipment maker Alcatel and its U.S. rival, Lucent.
|
|
|
French public deficit falls below EU limit
Mar 31 2006 12:13PM (CT)
PARIS (AP) - France's budget deficit dropped below the 3 percent European Union limit in 2005 for the first time in four years, and France said Friday it may be able to cut it further this year.
|
|
|
Delta to pass along fees on some flights
Mar 31 2006 12:09PM (CT)
ATLANTA (AP) - Delta Air Lines Inc., which is operating under bankruptcy protection, said Friday that roundtrip ticket prices will rise as much as $9 on some flights because it will be passing along certain fees to customers that it previously paid for itself.
|
|
|
EU exec to present draft of services law
Mar 31 2006 11:33AM (CT)
BRUSSELS, Belgium (AP) - The EU executive will next week present a new draft bill to open Europe's vast services market to cross-border competition, watering down the original and leaving out a contentious clause on labor regulation.
|
|
|
Lawsuit accuses sunscreen makers of lies
Mar 31 2006 11:02AM (CT)
LOS ANGELES (AP) - A lawsuit alleges that sunscreen manufacturers exaggerate the degree to which their products protect against harmful ultraviolet rays.
|
|
|
Charges filed vs. ex-Swissair executives
Mar 31 2006 10:38AM (CT)
ZURICH, Switzerland (AP) - Prosecutors said Friday they have filed charges against 19 former top executives and board members of the defunct Swissair for their part in the national airline's 2001 bankruptcy.
|
|
|
Home Depot completes purchase of Hughes
Mar 31 2006 10:24AM (CT)
ATLANTA (AP) - The Home Depot Inc., the nation's largest home improvement store chain, said Friday it has completed its $3.2 billion purchase of Hughes Supply Inc., a distributor of construction, repair and maintenance products.
|
|
|
Biotech co. Serono to issue more shares
Mar 31 2006 9:29AM (CT)
GENEVA (AP) - Swiss biotechnology company Serono, which has been the focus of takeover speculation for months, said Friday it planned to issue up to 7 billion Swiss francs ($5.4 billion) in new shares to increase capital and possibly fund its own acquisitions.
|
|
|
Jobless rate down, prices up in Japan
Mar 31 2006 9:29AM (CT)
TOKYO (AP) - Japan's economy showed fresh signs of recovery Friday with the government reporting lower-than expected unemployment in February and an increase in consumer prices for the fourth straight month.
|
|
|
EU urges governments to shed selfishness
Mar 31 2006 9:20AM (CT)
BRUSSELS, Belgium (AP) - European Union governments must shed economic selfishness and expose coveted national enterprises to competition from European rivals, European Commission President Jose Manuel Barroso said Friday.
|
|
|
German warning strikes extend into 4th day
Mar 31 2006 9:07AM (CT)
FRANKFURT, Germany (AP) - Thousands of German workers staged a fourth day of short walkouts on Friday as the IG Metall union tried to press employers on wage increases.
|
|
|
Austria's trade union to sell BAWAG bank
Mar 31 2006 8:45AM (CT)
VIENNA, Austria (AP) - Austria's trade union federation will sell embattled Bank Fuer Arbeit und Wirtschaft, the country's fourth-largest bank, after revelations that it lost about 1 billion euros ($1.2 billion) in soured currency speculation deals in the Caribbean.
|
|
|
Euro-zone inflation slips to 2.2 percent
Mar 31 2006 8:37AM (CT)
BRUSSELS, Belgium (AP) - Inflation slipped to 2.2 percent in March from 2.3 percent the previous month in the 12 European nations that use the euro currency, according to an EU preliminary estimate published Friday.
|
|
|
Judge dismisses patent lawsuit vs. Mattel
Mar 31 2006 8:10AM (CT)
NEW YORK (AP) - Toy maker Mattel Inc. on Friday said a federal court in Delaware dismissed a patent lawsuit brought against the company and its Fisher-Price subsidiary by rival LeapFrog Enterprises Inc.
|
|
|
Sanyo spins off computer chip unit
Mar 31 2006 7:29AM (CT)
TOKYO (AP) - Struggling Japanese electronics maker Sanyo said Friday it is spinning off its money-losing computer-chip business as part of a bigger turnaround effort.
|
|
|
Japanese stocks close higher; dollar up
Mar 31 2006 7:27AM (CT)
TOKYO (AP) - Japanese stocks edged higher Friday, extending a recent surge that saw the Nikkei index top the 17,000 level for the first time in 5 1/2 years. The dollar rose against the yen.
|
|
|
Malaysia unveils $54B development plan
Mar 31 2006 6:48AM (CT)
KUALA LUMPUR, Malaysia (AP) - Malaysia said Friday it will spend 220 billion ringgit ($59 billion) over the next five years to fast-track the country's economic and social development, and pledged to beef up a controversial affirmative action program for the majority Malays.
|
|
|
Scientists seek new pesticide alternatives
Mar 31 2006 6:13AM (CT)
TIFTON, Ga. (AP) - Since the 1940s, methyl bromide has served farmers well as a stunningly lethal fumigant, killing off pests such as fungi, weeds, insects and rodents. But amid requirements that farmers stop using it, University of Georgia students are joining an international effort to find an earth-friendly alternative.
|
|
|
Bard's Tale produces gluten-free beer
Mar 31 2006 2:21AM (CT)
LEE'S SUMMIT, Mo. (AP) - As a child, Craig Belser was diagnosed with celiac disease, a disorder that damaged his intestines whenever he digested anything containing gluten, a protein found in wheat, barley and oats.
|
|
|
Prosecutors indict 2 Livedoor auditors
Mar 31 2006 1:35AM (CT)
TOKYO (AP) - Prosecutors said Friday they have indicted two auditors for allegedly falsifying earnings reports for Japanese Internet portal Livedoor Co.
|
|
|
Nakamura: GM has lost touch with drivers
Mar 31 2006 1:30AM (CT)
TOKYO (AP) - General Motors Corp. is struggling because the U.S. automaker has forgotten over the years how to make cars that truly cater to consumers, Nissan's head designer said Friday.
|
|
|
Ex-Merrill exec released from prison
Mar 31 2006 1:08AM (CT)
HOUSTON (AP) - A federal appeals court on Thursday ordered former Merrill Lynch executive William Fuhs released from prison pending his appeal of his conviction related to Enron Corp.'s fraudulent sale of power barges to the brokerage.
|
|
|
Citigroup subsidiary faces trading charges
Mar 31 2006 1:08AM (CT)
SYDNEY, Australia (AP) - The Australian subsidiary of global investment giant Citigroup Inc. engaged in insider trading while advising in a $4.6 billion Australian dollar ($3.4 billion) corporate takeover bid, Australia's corporate regulator alleged Friday.
|
|
|
China: Heinz cereal has no modified rice
Mar 31 2006 12:11AM (CT)
BEIJING (AP) - Chinese government tests on H.J. Heinz Co. baby cereals have found they don't contain genetically modified rice, the government said Friday, despite claims by environmentalists who said they had found banned ingredients.
|
|
|
|
|
|