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SEC: Insider trading on Dow stock
May 8 2007 10:14PM (CT)
NEW YORK (AP) - The Securities and Exchange Commission Tuesday accused two Hong Kong residents of "widespread and unlawful trading activity" when they bought $15 million of Dow Jones & Co. stock ahead of an announcement that News Corp. was seeking to buy the company.
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Grasso wins round in NYSE pay fight
May 8 2007 8:49PM (CT)
NEW YORK (AP) - Former New York Stock Exchange chairman Richard Grasso has won a partial victory in his legal fight to hold on to his $187.5 million compensation package.
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Disney 2Q earnings rise 27 percent
May 8 2007 8:46PM (CT)
LOS ANGELES (AP) - Net income at The Walt Disney Co. increased 27 percent in the second quarter, boosted by strong results from its film studio, advertising sales at ESPN and international sales of its TV shows, including "Desperate Housewives."
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Wolfowitz resignation pressure mounts
May 8 2007 8:15PM (CT)
WASHINGTON (AP) - European officials voiced fresh concerns Tuesday about World Bank President Paul Wolfowitz's leadership, increasing pressure for his resignation amid revelations that he broke bank rules in arranging a pay package for his girlfriend.
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Wolfowitz resignation pressure mounts
May 8 2007 8:15PM (CT)
WASHINGTON (AP) - European officials voiced fresh concerns Tuesday about World Bank President Paul Wolfowitz's leadership, increasing pressure for his resignation amid revelations that he broke bank rules in arranging a pay package for his girlfriend.
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Reuters, Thomson outline combination
May 8 2007 4:53PM (CT)
LONDON (AP) - Reuters CEO Tom Glocer will lead the combined company if Thomson Corp. succeeds in its $17.5 billion bid for Reuters Group PLC, creating the world's biggest financial news and information provider.
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Charges dismissed against Goldman Sachs
May 8 2007 4:48PM (CT)
WASHINGTON (AP) - Shareholders who lost money following Fannie Mae's accounting scandal may not include investment house Goldman, Sachs & Co in a securities fraud lawsuit against the mortgage giant, a federal judge said Tuesday.
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Charges dismissed against Goldman Sachs
May 8 2007 4:48PM (CT)
WASHINGTON (AP) - Shareholders who lost money following Fannie Mae's accounting scandal may not include investment house Goldman, Sachs & Co in a securities fraud lawsuit against the mortgage giant, a federal judge said Tuesday.
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Treasurys mainly unchanged, awaiting Fed
May 8 2007 4:33PM (CT)
NEW YORK (AP) - U.S. government bonds remained huddled in a narrow trading range Tuesday, with investors reluctant to add to their positions ahead of the Federal Reserve's monetary policy statement on Wednesday.
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Congress debates mortgage reforms
May 8 2007 4:31PM (CT)
WASHINGTON (AP) - Congress is looking at potential reforms to risky home lending practices, although a House subcommittee hearing on Tuesday suggests lawmakers are still sorting out the complex workings of the mortgage market and wondering whether reforms will be necessary or helpful.
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Congress debates mortgage reforms
May 8 2007 4:31PM (CT)
WASHINGTON (AP) - Congress is looking at potential reforms to risky home lending practices, although a House subcommittee hearing on Tuesday suggests lawmakers are still sorting out the complex workings of the mortgage market and wondering whether reforms will be necessary or helpful.
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Suits filed after Dow Chemical firings
May 8 2007 4:13PM (CT)
GRAND RAPIDS, Mich. (AP) - Federal lawsuits were filed Tuesday from both sides following Dow Chemical Co.'s decision last month to fire two top-ranking officials whom it accused of trying to secretly negotiate a leveraged buyout of the company.
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Gold, silver weighed down by dollar
May 8 2007 3:39PM (CT)
NEW YORK (AP) - Gold and silver slipped Tuesday, pressured by a higher U.S. dollar and as investors focused on Wednesday's Federal Reserve policy meeting.
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Gold, silver weighed down by dollar
May 8 2007 3:39PM (CT)
NEW YORK (AP) - Gold and silver slipped Tuesday, pressured by a higher U.S. dollar and as investors focused on Wednesday's Federal Reserve policy meeting.
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Panel approves fuel economy increase
May 8 2007 3:15PM (CT)
WASHINGTON (AP) - A plan to increase fuel efficiency standards to an average of 35 miles per gallon by 2020 won approval from a Senate panel Tuesday in a vote closely watched by automakers and environmental groups.
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Dollar trades mostly higher
May 8 2007 2:54PM (CT)
NEW YORK (AP) - The dollar rose against the euro Tuesday after German industrial production fell more than expected in March.
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Dollar trades mostly higher
May 8 2007 2:54PM (CT)
NEW YORK (AP) - The dollar rose against the euro Tuesday after German industrial production fell more than expected in March.
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Oil rises on tight U.S., Nigeria supply
May 8 2007 2:42PM (CT)
NEW YORK (AP) - Crude oil and gasoline prices climbed Tuesday after the U.S. government, citing ongoing problems at the nation's refineries, said U.S. drivers will likely be paying more to fill their tanks this summer than previously forecast.
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Farmed fish fed contaminated material
May 8 2007 1:54PM (CT)
WASHINGTON (AP) - Farmed fish were fed meal spiked with an industrial chemical linked to the ongoing recall of pet foods, though the contamination level was probably too low to pose a danger to anyone who may have eaten the fish, federal health officials said Tuesday.
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Witness: Black ordered funds transferred
May 8 2007 1:44PM (CT)
CHICAGO (AP) - The government's star witness at media mogul Conrad Black's fraud trial testified Tuesday that Black himself ordered millions of dollars paid to a smaller Toronto-based company he owned.
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Warner Music 2Q loss widens
May 8 2007 1:28PM (CT)
LOS ANGELES (AP) - Warner Music Group Corp., home to artists such as Madonna and Linkin Park, reported a wider fiscal second-quarter loss on Tuesday, the result of a decline in revenue and costs of a restructuring that includes eliminating some 400 jobs, or 10 percent of its work force.
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AK Steel shares surge on report of bid
May 8 2007 1:28PM (CT)
CINCINNATI (AP) - Stock in AK Steel Holding Corp. surged 10 percent to a record high on Tuesday on a report that ArcelorMittal, the world's biggest steel maker, was considering making an offer for the company.
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Duke Energy 1Q earnings dip slightly
May 8 2007 1:11PM (CT)
CHARLOTTE, N.C. (AP) - Duke Energy Corp., one of the largest electric power companies in the United States, said Tuesday its first-quarter profit dipped slightly.
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Duke Energy 1Q earnings dip slightly
May 8 2007 1:11PM (CT)
CHARLOTTE, N.C. (AP) - Duke Energy Corp., one of the largest electric power companies in the United States, said Tuesday its first-quarter profit dipped slightly.
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UC team gets Livermore contract
May 8 2007 12:54PM (CT)
WASHINGTON (AP) - A team led by the University of California is getting the management contract for Lawrence Livermore National Laboratory in Northern California, despite past problems at the lab while under UC management.
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UC team gets Livermore contract
May 8 2007 12:54PM (CT)
WASHINGTON (AP) - A team led by the University of California is getting the management contract for Lawrence Livermore National Laboratory in Northern California, despite past problems at the lab while under UC management.
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CVS/Caremark 1Q profit rises 24 percent
May 8 2007 12:24PM (CT)
PROVIDENCE, R.I. (AP) - CVS/Caremark Corp. said Tuesday its earnings rose 24 percent on strong revenue growth in the first quarter as the huge drugstore chain operator absorbed the nation's second-largest pharmacy benefits manager.
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CVS/Caremark 1Q profit rises 24 percent
May 8 2007 12:24PM (CT)
PROVIDENCE, R.I. (AP) - CVS/Caremark Corp. said Tuesday its earnings rose 24 percent on strong revenue growth in the first quarter as the huge drugstore chain operator absorbed the nation's second-largest pharmacy benefits manager.
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GM joins U.S. climate action campaign
May 8 2007 11:02AM (CT)
WASHINGTON (AP) - General Motors Corp., and nearly a dozen other major companies, have joined the growing number of businesses calling for limits on greenhouse gases to combat global warming.
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Tyco International 2Q profit dips 7 pct
May 8 2007 10:28AM (CT)
TRENTON, N.J. (AP) - Industrial manufacturing conglomerate Tyco International Ltd., which is planning on splitting into three separate companies, said Tuesday its second-quarter profit slipped 7 percent as higher overhead and separation costs offset revenue growth.
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Tyco International 2Q profit dips 7 pct
May 8 2007 10:28AM (CT)
TRENTON, N.J. (AP) - Industrial manufacturing conglomerate Tyco International Ltd., which is planning on splitting into three separate companies, said Tuesday its second-quarter profit slipped 7 percent as higher overhead and separation costs offset revenue growth.
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Revlon's 1Q loss narrows
May 8 2007 9:00AM (CT)
NEW YORK (AP) - Revlon Inc., which is undergoing a restructuring to turn around the beauty business, said Tuesday its loss narrowed in the first quarter amid cost-cutting moves and an modest sales increase.
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Tenet Healthcare 1Q profit up 7 percent
May 8 2007 8:55AM (CT)
DALLAS (AP) - Health care services provider Tenet Healthcare Corp. said Tuesday its first-quarter profit rose 7 percent, helped by a hefty income tax-related gain and a slight rise in revenue.
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'Cocaine' drink is pulled from shelves
May 8 2007 7:07AM (CT)
NEW HAVEN, Conn. (AP) - An energy drink called Cocaine has been pulled from stores nationwide amid concerns about its name, the company that produces it said Monday.
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Mo. House OKs cap on ethanol subsidy
May 8 2007 5:04AM (CT)
JEFFERSON CITY, Mo. (AP) - State House members approved a wide-ranging agriculture bill that includes, among other things, a loan forgiveness program for veterinary students and changes to the state ethanol subsidy.
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Takeover bid for Qantas collapses
May 8 2007 4:11AM (CT)
SYDNEY, Australia (AP) - A 10.8 billion Australian dollar ($8.9 billion) takeover bid for one of the world's best-known airlines, Qantas, finally collapsed on Tuesday, pulling the company's share price down sharply.
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