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Oil prices drop below $59 a barrel
Jul 10 2005 11:42PM (CT)
SINGAPORE (AP) - Oil prices slipped more than 80 cents Monday to fall below $59 on news that Hurricane Dennis missed key Gulf of Mexico refineries and spared the market from a sudden disruption in supply at a time of high demand.
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Fitch lowers Philippines' credit outlook
Jul 10 2005 10:57PM (CT)
MANILA, Philippines (AP) - Philippine stocks fell and the peso weakened after credit rating agency Fitch downgraded its outlook for the Philippines on Monday, citing political and economic uncertainty amid calls for President Gloria Macapagal Arroyo's resignation.
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U.S., China officials begin textile talks
Jul 10 2005 10:54PM (CT)
BEIJING (AP) - Top U.S. and Chinese trade officials began talks Monday on disputes over U.S. limits on Chinese textile imports and complaints that Beijing is failing to stop rampant product piracy.
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Wall Street eager for earnings season
Jul 10 2005 9:23PM (CT)
NEW YORK (AP) - All the talk about economic growth, inflation, oil prices and interest rates can send the markets scurrying in any direction. But when it comes to stocks, there's no better indicator of performance than earnings. Second-quarter earnings season begins in earnest this week.
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Gas prices surge to record $2.33 a gallon
Jul 10 2005 9:23PM (CT)
CAMARILLO, Calif. (AP) - Gas prices have hit a record high of $2.33 a gallon, pushed up by the climbing cost of oil and strong demand in the midst of the summer vacation season, an industry analyst said Sunday.
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Wal-Mart fights back over transcript
Jul 10 2005 9:15PM (CT)
BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc. says a fired vice president who claims he deserves whistle-blower protection had falsified college transcripts to get hired at company headquarters in 1996.
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Housing markets pricing out middle class
Jul 10 2005 9:14PM (CT)
WEST PALM BEACH, Fla. (AP) - The red-hot housing market in booming cities across the country has made the dream of owning a home out of reach, not only for low-income families but also for white-collar professionals.
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Japanese stocks open higher
Jul 10 2005 7:47PM (CT)
TOKYO (AP) - Japanese stocks advanced early Monday as traders in Japan bought blue chip issues following gains on Wall Street last Friday. The dollar was lower against the yen.
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Retirees turn to eBay for an income
Jul 10 2005 7:06PM (CT)
SAN JOSE, Calif. (AP) - Selling items on eBay Inc.'s online auction site is a pastime for some people, but for Ellen Lee it's a matter of paying for some of life's necessities.
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Exxon Mobil eyes Chinese refinery
Jul 10 2005 5:46PM (CT)
BEIJING (AP) - Exxon Mobil Corp. has started work with China's third-biggest state oil company and a Saudi partner on a $3.5 billion project to expand a refinery in southern China.
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Jury selection to begin in Vioxx case
Jul 10 2005 3:35PM (CT)
HOUSTON (AP) - Merck & Co. has vowed to defend itself against each of more than 3,800 pending state and federal lawsuits alleging it knew its popular painkiller, Vioxx, could be dangerous long before the company voluntarily pulled it from the market last year.
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Space Coast hoping for boost from launch
Jul 10 2005 2:20PM (CT)
CAPE CANAVERAL, Fla. (AP) - Before the Columbia disaster, a large part of Brenda Mulberry's business was supplying local shops with T-shirts marking each space shuttle mission. But the grounding of the shuttle fleet for 2 1/2 years forced Mulberry to look elsewhere for business, and she found a new niche making T-shirts for Rotary clubs around the nation.
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Partners worried as Microsoft thinks small
Jul 10 2005 1:59PM (CT)
MINNEAPOLIS (AP) - Microsoft Corp. will further expand its software offerings for small businesses, even though that will turn many of its current partners into competitors, CEO Steve Ballmer said on Sunday.
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Singapore Airlines CEO urges consolidation
Jul 10 2005 1:55PM (CT)
SYDNEY, Australia (AP) - Singapore Airlines Chief Executive Chew Choon Seng said Sunday the global airline industry needs to consolidate as soaring oil prices damage profits.
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United calls back 600 flight attendants
Jul 10 2005 1:01PM (CT)
CHICAGO (AP) - United Airlines has called back 600 flight attendants who earlier took voluntary layoffs, and company officials said they will invite 851 more to return to work by late fall.
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Iceland's Baugur Group rules out more buys
Jul 10 2005 10:25AM (CT)
LONDON (AP) - Baugur Group, the retailer that led the charge of cash-rich Icelandic companies on an acquisition trail across Europe, said Sunday it had called a halt to further big purchases while its chief executive and several board members face fraud charges.
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No consensus on U.S. stock valuation
Jul 10 2005 12:24AM (CT)
NEW YORK (AP) - Are stock prices too high, too low, or right where they should be? In the sometimes quarrelsome confines of Wall Street, there's no consensus.
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