Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
WTO trade officials meet in China
Jul 11 2005 11:49PM (CT)
DALIAN, China (AP) - Trade officials from the United States, China, the European Union and 27 other countries are looking for progress on liberalizing trade in farm goods and services as they meet this week to prepare for a key conference in Hong Kong in December.
|
|
|
U.S. calls on China for full market access
Jul 11 2005 10:40PM (CT)
BEIJING (AP) - U.S. Commerce Secretary Carlos Gutierrez on Tuesday called on China to do more to meet commitments to give American companies access to Chinese markets.
|
|
|
Labor Dept. settles suit against Enron
Jul 11 2005 10:32PM (CT)
WASHINGTON (AP) - Enron employees whose retirement plans vanished when the company imploded may be getting some compensation after all, thanks to a settlement announced Monday by the government.
|
|
|
Closing arguments set over Enron broadband
Jul 11 2005 10:25PM (CT)
HOUSTON (AP) - Jurors who have spent three months hearing evidence in the conspiracy and fraud trial of five former executives from Enron Corp.'s defunct broadband unit will soon begin deliberations.
|
|
|
Steeply escalating gas prices take toll
Jul 11 2005 10:21PM (CT)
CHARLESTOWN, R.I. (AP) - At the Gulf gas station off Route 1, business is booming. Fuel prices are at record highs and, in spite of the conservation efforts of some, motorists are pumping more than they did last year. Station employee Carl Ross said summer is the busiest season and that beach-goers appear willing to fill their tanks no matter the cost.
|
|
|
Sprint to buy La. affiliate for $1 billion
Jul 11 2005 9:33PM (CT)
KANSAS CITY, Mo. (AP) - Sprint Corp. said Monday it is buying affiliate U.S. Unwired Inc. for about $1 billion, presumably ending that company's attempt to block Sprint's planned merger with Nextel Communications Inc.
|
|
|
Japan stocks rise; dollar lower vs. yen
Jul 11 2005 9:26PM (CT)
TOKYO (AP) - Japanese stocks rose Tuesday morning following solid gains on Wall Street overnight. The dollar was lower against the yen.
|
|
|
Ex-Fleishman-Hillard exec pleads guilty
Jul 11 2005 9:09PM (CT)
LOS ANGELES (AP) - A former public relations executive pleaded guilty Monday to fraud charges for billing the Los Angeles Department of Water and Power tens of thousands of dollars for work that was never done.
|
|
|
Telstra announces executive-level job cuts
Jul 11 2005 8:18PM (CT)
SYDNEY, Australia (AP) - Australia's largest telecommunications company, Telstra Corp., will ax around 80 executive-level sales jobs to help contain operating costs, a company spokesman said Tuesday.
|
|
|
Montserrat opens new airport
Jul 11 2005 8:17PM (CT)
GERALD'S, Montserrat (AP) - The tiny British Caribbean territory of Montserrat inaugurated a new airport Monday, eight years after its old airport was destroyed in a volcanic eruption.
|
|
|
DreamWorks lowers full-year profit outlook
Jul 11 2005 8:05PM (CT)
LOS ANGELES (AP) - Less than a year after going public on the strength of hit films such as "Shrek," DreamWorks Animation Inc. SKG is battling a DVD market slump that forced it to warn Monday of a loss in the second quarter and to lower its full-year outlook.
|
|
|
Alaska pilots keep arbitrated contract
Jul 11 2005 7:54PM (CT)
SEATTLE (AP) - Alaska Airlines pilots have overwhelmingly chosen to stick with a contract handed down by an arbitrator rather than replace it with an agreement negotiated by their union.
|
|
|
McKesson agrees to buy D&K Healthcare
Jul 11 2005 6:46PM (CT)
SAN FRANCISCO (AP) - McKesson Corp., the nation's largest distributor of prescription drugs, extended its reach in the Midwest and South by agreeing Monday to buy D&K Healthcare Resources Inc. for $207 million in cash.
|
|
|
Sara Lee Branded Apparel to cut 775 jobs
Jul 11 2005 6:37PM (CT)
WINSTON-SALEM, N.C. (AP) - Sara Lee Corp.'s apparel division announced Monday that it will cut about 775 jobs in the United States, Mexico and Canada as it prepares for a spin off from its parent company next year.
|
|
|
Ex-McKesson CFO acquitted of fraud charges
Jul 11 2005 6:05PM (CT)
SAN FRANCISCO (AP) - A federal judge on Monday acquitted McKesson Corp.'s former chief financial officer of criminal charges accusing him of conspiring in an accounting scam that wiped out $9 billion shareholder wealth in 1999.
|
|
|
Visa USA names ex-brokerage exec new CEO
Jul 11 2005 5:59PM (CT)
SAN FRANCISCO (AP) - Visa USA, the brand behind the nation's largest payment system, named John Philip Coghlan as its new chief executive Monday, ushering in a leader from outside the credit card industry as the banking association tries to defuse a merchant rebellion against its rising transaction fees.
|
|
|
Plantronics to buy Altec Lansing for $166M
Jul 11 2005 5:55PM (CT)
SANTA CRUZ, Calif. (AP) - Telephone headset manufacturer Plantronics Inc. agreed Monday to acquire Altec Lansing Technologies Inc., a maker of portable and powered audio systems, for about $166 million in cash.
|
|
|
More quotas on Chinese textiles sought
Jul 11 2005 5:49PM (CT)
WASHINGTON (AP) - U.S. manufacturers petitioned the Bush administration on Monday to impose quotas on additional imports of Chinese textiles and clothing, saying they will keep filing cases until the two countries negotiate a comprehensive agreement covering Chinese imports.
|
|
|
Genentech profits soar 73 percent in 2Q
Jul 11 2005 5:44PM (CT)
SAN FRANCISCO (AP) - Biotechnology company Genentech Inc.'s torrid run of good news continued Monday when it reported that its second quarter profit surged 73 percent, fueled by continued strong drug sales.
|
|
|
Qualcomm sues Broadcom over patents
Jul 11 2005 5:34PM (CT)
SAN DIEGO (AP) - Wireless technology company Qualcomm Inc. on Monday said it is suing chip-maker Broadcom Corp. for alleged patent infringement in the latest of a series of legal disputes between the two companies.
|
|
|
FCC OKs Alltel-Western Wireless merger
Jul 11 2005 5:11PM (CT)
WASHINGTON (AP) - Federal regulators signed off Monday on Alltel Corp.'s $4.4 billion acquisition of Western Wireless Corp. _ a union that would make Alltel the nation's fifth-largest cellular telephone service provider.
|
|
|
Bonds mixed in quiet session
Jul 11 2005 4:58PM (CT)
NEW YORK (AP) - Bond prices were mixed on Monday in a quiet trading session as investors awaited important economic data due later in the week.
|
|
|
Some U.S. airlines may return to black
Jul 11 2005 4:52PM (CT)
NEW YORK (AP) - A couple of major U.S. airlines may return to the black in the second quarter after years of losses, catching up to their low-cost competitors.
|
|
|
Ebbers settlement gets preliminary OK
Jul 11 2005 4:50PM (CT)
NEW YORK (AP) - A judge gave her blessing Monday to a civil suit settlement under which former WorldCom chief Bernard Ebbers will forfeit nearly all his cash and personal assets _ as much as $45 million.
|
|
|
Monday's Commodities Roundup
Jul 11 2005 4:42PM (CT)
NEW YORK (AP) - Crude-oil futures settled lower Monday, reflecting easing supply concerns with the passage of Hurricane Dennis.
|
|
|
Jury selection begins in first Vioxx trial
Jul 11 2005 4:30PM (CT)
ANGLETON, Texas (AP) - About 120 potential jurors filled out questionnaires Monday as jury selection began in the nation's first Vioxx-related lawsuit to go to trial.
|
|
|
FDA: Staar still violating regulations
Jul 11 2005 4:26PM (CT)
MONROVIA, Calif. (AP) - The Food and Drug Administration told Staar Surgical Co. that it continues to violate a number of regulations and warned that it is prepared to take action against the company, the maker of eye surgery products said Monday.
|
|
|
Marvel gets boost from 'Fantastic Four'
Jul 11 2005 4:11PM (CT)
LOS ANGELES (AP) - An unlikely group of superheroes came to the aid of Marvel Enterprises Inc.'s stock price Monday, as the movie "Fantastic Four" drew in almost twice as much as expected in its opening weekend.
|
|
|
AIG Highstar to sell pipeline to GE unit
Jul 11 2005 4:08PM (CT)
NEW YORK (AP) - AIG Highstar Capital LP, a private equity fund sponsored by insurance firm American International Group Inc., said Monday it agreed to sell the Southern Star Central gas pipeline system for $362 million to General Electric Co. and Canada's largest institutional investor.
|
|
|
Screener: no employees involved in breach
Jul 11 2005 4:06PM (CT)
ATLANTA (AP) - ChoicePoint Inc.'s chief screener said Monday no employees were involved in a breach last fall of the company's massive database of personal information, and she stressed that while procedures need to be improved she doesn't believe any individuals made mistakes.
|
|
|
WellPoint to pay up to $198M in settlement
Jul 11 2005 4:02PM (CT)
MIAMI (AP) - WellPoint Inc., the nation's biggest publicly traded health insurer, said Monday it will pay up to $198 million to settle two class-action lawsuits brought by representatives of more than 700,000 doctors over alleged unfair payment practices.
|
|
|
GMAC expected to earn $2.5 billion in 2005
Jul 11 2005 3:53PM (CT)
DETROIT (AP) - The chief financial officer of General Motors Acceptance Corp., General Motors Corp.'s finance arm, says he expects the division to earn at least $2.5 billion in 2005, versus a record $2.9 billion in 2004.
|
|
|
Pilgrim's Pride boosts 3Q profit outlook
Jul 11 2005 3:53PM (CT)
PITTSBURG, Texas (AP) - Poultry company Pilgrim's Pride Corp. raised its profit forecast for the third quarter Monday following better-than-expected results from its U.S. and Mexico chicken operations.
|
|
|
Ford starts selling second hybrid vehicle
Jul 11 2005 3:39PM (CT)
DETROIT (AP) - The Sierra Club, a longtime foe of Ford Motor Co., applauded the automaker Monday for releasing its second hybrid vehicle and said it will market the sport utility vehicle to its members.
|
|
|
Unocal sells unit to Pogo for $1.8 billion
Jul 11 2005 3:36PM (CT)
LOS ANGELES (AP) - Takeover target Unocal Corp. said Monday it has agreed to sell its Canadian oil and gas subsidiary for $1.8 billion in a move that analysts said would not involve Unocal resources coveted by rival bidders Chevron Corp. and Chinese government-run CNOOC Ltd.
|
|
|
VNU buying IMS Health in $7 billion deal
Jul 11 2005 3:21PM (CT)
AMSTERDAM, Netherlands (AP) - Dutch media company VNU NV, the owner of Nielsen Media Research, agreed Monday it would acquire U.S.-based health care data provider IMS Health Inc. for a cash and stock deal valued at $6.57 billion, marking one of the biggest consolidations in the growing industry of data collection.
|
|
|
Morgan Stanley co-president steps down
Jul 11 2005 3:09PM (CT)
NEW YORK (AP) - Stephen Crawford, who ended up on the losing side in the battle for control of Morgan Stanley, is walking away with a $32 million severance payment after resigning as co-president of the brokerage firm.
|
|
|
PWC to settle overbilling allegations
Jul 11 2005 3:05PM (CT)
WASHINGTON (AP) - PriceWaterhouseCoopers, one of the largest accounting firms, has agreed to pay $41.9 million to settle claims that it overbilled the federal government for travel over 11 years, the Justice Department said Monday.
|
|
|
Treasury rates mixed in weekly auction
Jul 11 2005 2:54PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills declining and rates on six-month bills rising to the highest level since July 2001.
|
|
|
Fischer Imaging names new CEO
Jul 11 2005 2:17PM (CT)
THORNTON, Colo. (AP) - Medical diagnostic equipment manufacturer Fischer Imaging Inc. named a new president and chief executive officer Monday, about a month after several former executives were named in a federal fraud complaint.
|
|
|
HP releases new printer technology
Jul 11 2005 1:07PM (CT)
NEW YORK (AP) - Computer maker Hewlett Packard Co. said Monday that it plans to launch several models of low-cost, high-speed color and photo printers through the fall as it seeks to invigorate a key segment of its operations.
|
|
|
Document: Parmalat risked collapse in 1997
Jul 11 2005 12:29PM (CT)
PARMA, Italy (AP) - Parmalat SpA was risking collapse at least six years before it finally went bust in 2003, according to an expert study from 1997.
|
|
|
London shoppers shrug off terrorist attacks
Jul 11 2005 12:18PM (CT)
LONDON (AP) - Shoppers appeared to shrug off concerns about last week's terrorist attacks and returned to London's stores in greater numbers than expected over the weekend, but retailers warned that tough times may remain ahead.
|
|
|
Execs, corporations get reduced penalties
Jul 11 2005 11:39AM (CT)
WASHINGTON (AP) - Dozens of executives and over 30 corporations have agreed to take advantage of an Internal Revenue Service program offering reduced penalties to those accused of trying to hide income through an abusive tax shelter.
|
|
|
Greece's Intralot acquires Totolotek
Jul 11 2005 10:26AM (CT)
ATHENS, Greece (AP) - Greek gaming systems operator and developer Intralot SA announced Monday that it had acquired Polish fixed-odds sports betting operator Totolotek for 3.4 million euros ($4.1 million).
|
|
|
Report: Goldman, Allianz in talks on bank
Jul 11 2005 10:14AM (CT)
BEIJING (AP) - U.S. investment bank Goldman Sachs and German financial firm Allianz are in talks to buy a stake of more than $1 billion in one of China's biggest state-owned commercial banks, a news report said Monday.
|
|
|
World Bank supports Ukraine's bid for WTO
Jul 11 2005 10:13AM (CT)
KIEV, Ukraine (AP) - The World Bank supports Ukraine's aspirations to join the World Trade Organization by the end of the year, a regional official with the Washington-based lender said Monday.
|
|
|
DreamWorks sees 2Q loss, cuts 2005 view
Jul 11 2005 9:25AM (CT)
GLENDALE, Calif. (AP) - DreamWorks Animation SKG Inc., creator of animated hits "Shrek" and "Shark Tale," on Monday warned of a loss in the second quarter and also cut its full-year forecast, citing disappointing sales of home videos.
|
|
|
Report: Russian arms exporter signs deal
Jul 11 2005 9:01AM (CT)
MOSCOW (AP) - Russia's main arms exporter has signed a $300 million deal to sell jet fighter engines to China, a Russian newspaper reported Monday.
|
|
|
Iceland: cooperation on whaling possible
Jul 11 2005 8:15AM (CT)
TOKYO (AP) - Iceland told fellow pro-whaling ally Japan Monday that it might be possible to cooperate on commercial whaling, officials said.
|
|
|
Indonesia charges Newmont mining exec
Jul 11 2005 8:04AM (CT)
JAKARTA, Indonesia (AP) - Prosecutors filed charges against Newmont Mining Corp. and its top U.S. executive in Indonesia on Monday for allegedly polluting a bay with toxic waste, a lawyer said, in a case that is being closely watched by foreign investors.
|
|
|
Singapore economy grows 12.3 percent in 2Q
Jul 11 2005 8:00AM (CT)
SINGAPORE (AP) - Singapore's economy expanded at an annual pace of 12.3 percent in the second quarter, rebounding from a contraction in the previous quarter, thanks to strong growth in services and manufacturing, the government said Monday.
|
|
|
High oil prices on ministers' agenda
Jul 11 2005 7:52AM (CT)
BRUSSELS, Belgium (AP) - The impact of high oil prices on economic growth and troubling budget deficits in Italy and Portugal topped the agenda at Monday's meeting of European Union finance ministers.
|
|
|
Russian president warns on 2006 budget
Jul 11 2005 7:44AM (CT)
MOSCOW (AP) - President Vladimir Putin on Monday warned Cabinet ministers and lawmakers from using oil revenues now flooding Russia's budget coffers to fund populist projects and push inflation even higher.
|
|
|
Mittal Steel makes bid for Czech steel co.
Jul 11 2005 7:26AM (CT)
PRAGUE (AP) - Mittal Steel Co., the world's largest steel maker, Monday said it has made a direct bid to the Czech government for its 98.96 percent stake in Czech steel company Vitkovice Steel AS.
|
|
|
Eurotunnel revenue almost flat in 1st half
Jul 11 2005 7:02AM (CT)
PARIS (AP) - Eurotunnel said revenue rose just 0.8 percent in the first six months of the year as growth in its shuttle business was offset by a decline in freight operations.
|
|
|
Lufthansa passenger numbers up in 1st half
Jul 11 2005 6:54AM (CT)
BERLIN (AP) - Lufthansa said Monday it had a slight increase in passengers in the first half of this year, with a record 24.7 million people traveling on Germany's biggest airline.
|
|
|
Statoil plans to develop new oil field
Jul 11 2005 6:34AM (CT)
OSLO, Norway (AP) - Statoil ASA on Monday said it plans to develop a new oil and natural gas field called Tyrihans in the Norwegian Sea.
|
|
|
Munich Re estimates Hurricane Dennis damage
Jul 11 2005 6:19AM (CT)
BERLIN (AP) - The total insured damage from Hurricane Dennis, which hit parts of the U.S. Gulf Coast over the weekend, will amount to between $3 billion and $5 billion, an insurance company estimated Monday.
|
|
|
Wall Street eager for earnings season
Jul 11 2005 5:49AM (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.
|
|
|
Toyota: GM fuel-cell tie-up coming soon
Jul 11 2005 5:41AM (CT)
TOKYO (AP) - Toyota's president said Monday a tie-up with U.S. rival General Motors on fuel-cell vehicles is in its final stages _ but promised to do his best to beat GM and Ford.
|
|
|
Housing markets pricing out middle class
Jul 11 2005 5:36AM (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.
|
|
|
LG Philips' second-quarter profit plummets
Jul 11 2005 5:10AM (CT)
SEOUL, South Korea (AP) - LG Philips LCD Co., one of the world's two top makers of thin-film transistor liquid-crystal displays, reported Monday that second-quarter profit plunged 94 percent on lower panel prices amid a supply glut.
|
|
|
Indonesia calls for energy-saving measures
Jul 11 2005 4:17AM (CT)
JAKARTA, Indonesia (AP) - Indonesia's president called on civil servants to save energy and canceled a planned trip to China after nationwide gasoline shortages triggered criticism and anti-government protests.
|
|
|
Mitsubishi Heavy makes bid on Westinghouse
Jul 11 2005 2:55AM (CT)
TOKYO (AP) - Mitsubishi Heavy Industries has offered to buy nuclear power company Westinghouse Electric, moving in on a company that 40 years ago provided the Japanese machinery maker with its technology, a Mitsubishi official said.
|
|
|
|
|
|