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Latest Business News Archives for April 7, 2008

Oil hovers below $109 after steep rise
Apr 7 2008 11:53PM (CT)
SINGAPORE (AP) - Oil prices steadied Tuesday after jumping by almost $3 a barrel in the previous session on concerns about falling gasoline supplies and expectations that U.S. interest rates will be cut again.
 
Oil hovers below $109 after steep rise
Apr 7 2008 11:53PM (CT)
SINGAPORE (AP) - Oil prices steadied Tuesday after jumping by almost $3 a barrel in the previous session on concerns about falling gasoline supplies and expectations that U.S. interest rates will be cut again.
 
Alcoa 1Q profit drops on higher costs
Apr 7 2008 11:01PM (CT)
PITTSBURGH (AP) - Alcoa Inc. unofficially opened the first-quarter earnings season by reporting profits sank by more than half as higher costs and a swooning U.S. dollar weighed down results, but executives said the company's future is bright.
 
5 San Diego officials face SEC charges
Apr 7 2008 8:37PM (CT)
SAN DIEGO (AP) - The Securities and Exchange Commission filed a civil complaint Monday against five former San Diego city officials, alleging they committed fraud by concealing a ballooning shortfall in the city pension fund.
 
5 San Diego officials face SEC charges
Apr 7 2008 8:37PM (CT)
SAN DIEGO (AP) - The Securities and Exchange Commission filed a civil complaint Monday against five former San Diego city officials, alleging they committed fraud by concealing a ballooning shortfall in the city pension fund.
 
World Bank expects more high food prices
Apr 7 2008 7:31PM (CT)
WASHINGTON (AP) - Rising food prices, which have caused social unrest in several countries, are not a temporary phenomenon, but are likely to persist for several years, World Bank President Robert Zoellick says.
 
Skycaps win lawsuit over $2-a-bag fee
Apr 7 2008 7:30PM (CT)
BOSTON (AP) - A federal jury on Monday awarded more than $325,000 to nine Logan International Airport skycaps for American Airlines who claimed they lost tips when the airline instituted a $2 fee for checking a bag at curbside.
 
Skycaps win lawsuit over $2-a-bag fee
Apr 7 2008 7:30PM (CT)
BOSTON (AP) - A federal jury on Monday awarded more than $325,000 to nine Logan International Airport skycaps for American Airlines who claimed they lost tips when the airline instituted a $2 fee for checking a bag at curbside.
 
Treasury bond market at a glance
Apr 7 2008 5:08PM (CT)
NEW YORK (AP) - Key barometers in the Treasury market at 5:35 p.m. Monday compared with late Friday. The price changes in the 10-year note and 30-year bond are per $1,000 invested.
 
Treasury bond market at a glance
Apr 7 2008 5:08PM (CT)
NEW YORK (AP) - Key barometers in the Treasury market at 5:35 p.m. Monday compared with late Friday. The price changes in the 10-year note and 30-year bond are per $1,000 invested.
 
Treasury prices fall in quiet session
Apr 7 2008 4:58PM (CT)
NEW YORK (AP) - Treasury prices fell in a relatively quiet session Monday as Wall Street digested reports of corporate dealmaking, a bullish sign for the stock market that lessened investors' need for the safety of government bonds.
 
Airlines fare poorly in quality survey
Apr 7 2008 4:47PM (CT)
WASHINGTON (AP) - Low-cost carriers AirTran, Jet Blue and Southwest took the top three spots in a national survey of airline quality, while the industry overall hit its lowest rating in the nearly two decades of the study.
 
Airlines fare poorly in quality survey
Apr 7 2008 4:47PM (CT)
WASHINGTON (AP) - Low-cost carriers AirTran, Jet Blue and Southwest took the top three spots in a national survey of airline quality, while the industry overall hit its lowest rating in the nearly two decades of the study.
 
Airlines fare poorly in quality survey
Apr 7 2008 4:47PM (CT)
WASHINGTON (AP) - Low-cost carriers AirTran, Jet Blue and Southwest took the top three spots in a national survey of airline quality, while the industry overall hit its lowest rating in the nearly two decades of the study.
 
Gold jumps as crude oil spikes past $109
Apr 7 2008 3:57PM (CT)
NEW YORK (AP) - Gold futures rose sharply Monday after crude oil jumped above $109 a barrel, an inflationary sign that prompted investors to buy the metal as a safe-haven asset. Silver also rose.
 
Novartis spending $39 billion for Alcon
Apr 7 2008 3:45PM (CT)
GENEVA (AP) - Switzerland's Novartis AG said Monday it will spend about $39 billion in a two-step bid for a majority stake in U.S. eye-care company Alcon.
 
Novartis spending $39 billion for Alcon
Apr 7 2008 3:45PM (CT)
GENEVA (AP) - Switzerland's Novartis AG said Monday it will spend about $39 billion in a two-step bid for a majority stake in U.S. eye-care company Alcon.
 
Novartis spending $39 billion for Alcon
Apr 7 2008 3:45PM (CT)
GENEVA (AP) - Switzerland's Novartis AG said Monday it will spend about $39 billion in a two-step bid for a majority stake in U.S. eye-care company Alcon.
 
Novartis spending $39 billion for Alcon
Apr 7 2008 3:45PM (CT)
GENEVA (AP) - Switzerland's Novartis AG said Monday it will spend about $39 billion in a two-step bid for a majority stake in U.S. eye-care company Alcon.
 
WaMu poised to get $5B in cash from TPG
Apr 7 2008 3:37PM (CT)
SEATTLE (AP) - Washington Mutual Inc., the country's largest savings and loan, is close to landing a $5 billion cash infusion from private equity group TPG and other investors, a person familiar with the matter said Monday.
 
WaMu poised to get $5B in cash from TPG
Apr 7 2008 3:37PM (CT)
SEATTLE (AP) - Washington Mutual Inc., the country's largest savings and loan, is close to landing a $5 billion cash infusion from private equity group TPG and other investors, a person familiar with the matter said Monday.
 
Venezuela eases cement takeover plan
Apr 7 2008 2:55PM (CT)
CARACAS, Venezuela (AP) - Venezuela says that foreign companies will be allowed to keep minority shares when the government takes control of three foreign-owned cement businesses.
 
Venezuela eases cement takeover plan
Apr 7 2008 2:55PM (CT)
CARACAS, Venezuela (AP) - Venezuela says that foreign companies will be allowed to keep minority shares when the government takes control of three foreign-owned cement businesses.
 
Report finds IRS computer security flaws
Apr 7 2008 2:39PM (CT)
WASHINGTON (AP) - One more tax-season dread: A week before the filing deadline, Treasury watchdogs said Monday that poor controls over IRS computers could allow a disgruntled employee, agency contractor or outside hacker to steal taxpayers' confidential information.
 
EU allows mobile phones on airplanes
Apr 7 2008 10:32AM (CT)
BRUSSELS, Belgium (AP) - The European Union on Monday opened the way for air travelers to use mobile phones to talk, text or send e-mails on planes throughout Europe's airspace.
 
EU allows mobile phones on airplanes
Apr 7 2008 10:32AM (CT)
BRUSSELS, Belgium (AP) - The European Union on Monday opened the way for air travelers to use mobile phones to talk, text or send e-mails on planes throughout Europe's airspace.
 
Japan nominates new central bank leader
Apr 7 2008 9:22AM (CT)
TOKYO (AP) - The Japanese government nominated a former Bank of Japan executive director on Monday as its third candidate to fill a leadership vacuum at the head of the nation's central bank.
 
Motorola to name Icahn exec to board
Apr 7 2008 8:18AM (CT)
NEW YORK (AP) - Cell phone maker Motorola has agreed to name Keith Meister, a managing director of Icahn investment funds, to its board of directors under terms of an agreement with billionaire activist investor Carl Icahn.
 
Motorola to name Icahn exec to board
Apr 7 2008 8:18AM (CT)
NEW YORK (AP) - Cell phone maker Motorola has agreed to name Keith Meister, a managing director of Icahn investment funds, to its board of directors under terms of an agreement with billionaire activist investor Carl Icahn.
 
Yahoo not opposed to deal with Microsoft
Apr 7 2008 6:56AM (CT)
NEW YORK (AP) - Internet icon Yahoo, under pressure of a three-week deadline from Microsoft to accept its $41 billion buyout bid, said Monday it doesn't oppose a deal with the huge software maker but wants a better offer.
 
Yahoo not opposed to deal with Microsoft
Apr 7 2008 6:56AM (CT)
NEW YORK (AP) - Internet icon Yahoo, under pressure of a three-week deadline from Microsoft to accept its $41 billion buyout bid, said Monday it doesn't oppose a deal with the huge software maker but wants a better offer.
 
Report: Shanghai tycoon gets 19 years
Apr 7 2008 6:06AM (CT)
SHANGHAI, China (AP) - A Shanghai tycoon has been sentenced to 19 years in prison in a pension funds scandal that toppled the city's communist party chief, the official Xinhua News Agency said Monday.
 
Job winners and losers in hard times
Apr 7 2008 5:38AM (CT)
WASHINGTON (AP) - Hospitals, schools and the assembly line at an airplane factory look like pretty good places to be with a recession looming and unemployment rising. Construction workers, real estate agents and auto workers aren't expected to fare as well.
 
Job winners and losers in hard times
Apr 7 2008 5:38AM (CT)
WASHINGTON (AP) - Hospitals, schools and the assembly line at an airplane factory look like pretty good places to be with a recession looming and unemployment rising. Construction workers, real estate agents and auto workers aren't expected to fare as well.
 
Hawaii targets taro genetic modification
Apr 7 2008 2:17AM (CT)
HONOLULU (AP) - Lawmakers have approved a five-year moratorium on genetically modifying Hawaiian taro in the state, a compromise between researchers and farmers who consider taro a sacred plant.
 
Tax rebates could be ticket to vacation
Apr 7 2008 1:07AM (CT)
KNOXVILLE, Tenn. (AP) - For many Americans, those tax rebate checks meant to stimulate the economy will be coming just in time _ for a vacation.
 
Tax rebates could be ticket to vacation
Apr 7 2008 1:07AM (CT)
KNOXVILLE, Tenn. (AP) - For many Americans, those tax rebate checks meant to stimulate the economy will be coming just in time _ for a vacation.
 
China, New Zealand sign trade deal
Apr 7 2008 12:58AM (CT)
BEIJING (AP) - China and New Zealand signed a sweeping free trade agreement Monday, the rising economic giant's first such pact with a developed country.
 
China, New Zealand sign trade deal
Apr 7 2008 12:58AM (CT)
BEIJING (AP) - China and New Zealand signed a sweeping free trade agreement Monday, the rising economic giant's first such pact with a developed country.
 
China, New Zealand sign trade deal
Apr 7 2008 12:58AM (CT)
BEIJING (AP) - China and New Zealand signed a sweeping free trade agreement Monday, the rising economic giant's first such pact with a developed country.
 
   

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