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Latest Business News Archives for August 6, 2007

Flight delays soar to 13-year high
Aug 6 2007 7:04PM (CT)
WASHINGTON (AP) - U.S. airline delays are at their highest level in at least 13 years, and analysts say fliers can expect more of the same for the rest of the summer.
 
Publishers join case against YouTube
Aug 6 2007 6:08PM (CT)
NEW YORK (AP) - A group of music publishing companies said Monday it is joining a copyright infringement lawsuit against Google Inc.'s video-sharing site YouTube.
 
AHM files for bankruptcy
Aug 6 2007 6:02PM (CT)
NEW YORK (AP) - American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening.
 
AHM files for bankruptcy
Aug 6 2007 6:02PM (CT)
NEW YORK (AP) - American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening.
 
AHM files for bankruptcy
Aug 6 2007 6:02PM (CT)
NEW YORK (AP) - American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening.
 
Feds fine American Express $65 million
Aug 6 2007 5:19PM (CT)
WASHINGTON (AP) - Federal authorities said Monday that American Express was ordered to pay the government millions of dollars in penalties for alleged violations of anti-money laundering provisions.
 
Feds fine American Express $65 million
Aug 6 2007 5:19PM (CT)
WASHINGTON (AP) - Federal authorities said Monday that American Express was ordered to pay the government millions of dollars in penalties for alleged violations of anti-money laundering provisions.
 
Bush administration upholds phone ban
Aug 6 2007 5:11PM (CT)
SAN DIEGO (AP) - The Bush administration upheld an import ban Monday on phones that contain Qualcomm Inc. chips, further threatening the introduction of new handsets.
 
CPSC investigates Fisher-Price recall
Aug 6 2007 4:49PM (CT)
NEW YORK (AP) - The Consumer Product Safety Commission is looking into whether Fisher-Price let the agency know as quickly as it should have about lead paint found in 1.5 million Chinese-made toys that were recalled worldwide last week.
 
Treasury bond prices end lower
Aug 6 2007 4:43PM (CT)
NEW YORK (AP) - Positive momentum in the stock market ahead of a key U.S. Federal Reserve meeting stripped bonds of some of their attractiveness Monday.
 
6 trapped in Utah coal mine cave-in
Aug 6 2007 3:58PM (CT)
HUNTINGTON, Utah (AP) - Six miners were trapped in a coal mine Monday by a cave-in so powerful that authorities initially thought it was small earthquake.
 
6 trapped in Utah coal mine cave-in
Aug 6 2007 3:58PM (CT)
HUNTINGTON, Utah (AP) - Six miners were trapped in a coal mine Monday by a cave-in so powerful that authorities initially thought it was small earthquake.
 
Delphi reaches deal with 4 unions
Aug 6 2007 3:56PM (CT)
DETROIT (AP) - Delphi Corp. said Monday it tentatively agreed to contracts with four more unions, including one that recently warned a strike was possible if talks stalled.
 
Delphi reaches deal with 4 unions
Aug 6 2007 3:56PM (CT)
DETROIT (AP) - Delphi Corp. said Monday it tentatively agreed to contracts with four more unions, including one that recently warned a strike was possible if talks stalled.
 
Fed to meet amid housing, credit worries
Aug 6 2007 3:51PM (CT)
WASHINGTON (AP) - Fears gripping Wall Street in recent weeks _ a worsening housing slump and a painful credit crunch _ are likely to figure prominently in discussions among Federal Reserve policymakers this week.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Ex-Home Depot boss to lead New Chrysler
Aug 6 2007 3:48PM (CT)
AUBURN HILLS, Mich. (AP) - Chrysler got a taste of its new owner's swift and decisive style Monday as its chief executive was demoted and the former head of Home Depot was tapped to lead the automaker through a major restructuring.
 
Energy, metals, agriculture futures fall
Aug 6 2007 3:45PM (CT)
NEW YORK (AP) - Commodities prices tumbled Monday as investors questioned the strength of the U.S. economy and what effect any weakness in this country might have on global demand for crude oil, copper and other raw materials.
 
Countrywide tries to reassure investors
Aug 6 2007 3:34PM (CT)
LOS ANGELES (AP) - Countrywide Financial Corp. said Monday it has access to $46.2 billion in cash, credit lines and other investments, a move aimed at reassuring nervous investors the nation's biggest mortgage lender can weather a market downturn.
 
McDonald's agrees to sell Boston Market
Aug 6 2007 3:32PM (CT)
CHICAGO (AP) - McDonald's Corp. said Monday it agreed to sell its meat-and-potatoes Boston Market restaurant chain to private equity firm Sun Capital Partners for an undisclosed sum.
 
UK farmers pray outbreak is contained
Aug 6 2007 3:15PM (CT)
LONDON (AP) - Michael Fordham remembers all too well the ravages of the foot-and-mouth epidemic that swept Britain in 2001 _ millions of cattle destroyed and a personal financial burden almost impossible to bear.
 
UK farmers pray outbreak is contained
Aug 6 2007 3:15PM (CT)
LONDON (AP) - Michael Fordham remembers all too well the ravages of the foot-and-mouth epidemic that swept Britain in 2001 _ millions of cattle destroyed and a personal financial burden almost impossible to bear.
 
UK farmers pray outbreak is contained
Aug 6 2007 3:15PM (CT)
LONDON (AP) - Michael Fordham remembers all too well the ravages of the foot-and-mouth epidemic that swept Britain in 2001 _ millions of cattle destroyed and a personal financial burden almost impossible to bear.
 
UK farmers pray outbreak is contained
Aug 6 2007 3:15PM (CT)
LONDON (AP) - Michael Fordham remembers all too well the ravages of the foot-and-mouth epidemic that swept Britain in 2001 _ millions of cattle destroyed and a personal financial burden almost impossible to bear.
 
UK farmers pray outbreak is contained
Aug 6 2007 3:15PM (CT)
LONDON (AP) - Michael Fordham remembers all too well the ravages of the foot-and-mouth epidemic that swept Britain in 2001 _ millions of cattle destroyed and a personal financial burden almost impossible to bear.
 
Oil, gas plunge on economic worries
Aug 6 2007 2:48PM (CT)
NEW YORK (AP) - Oil and gasoline futures plunged Monday on concerns about the economy's health and as investors sold to lock in profits from last week's record-setting rally.
 
Fortis shareholders approve takeover
Aug 6 2007 11:50AM (CT)
AMSTERDAM, Netherlands (AP) - Fortis NV shareholders on Monday overwhelmingly approved the company's plans to participate in a consortium bidding for ABN Amro Holding NV and hold a major share issue needed to finance its part of the deal.
 
European stocks struggle; Asia drops
Aug 6 2007 11:27AM (CT)
LONDON (AP) - European stock markets edged mostly lower and most Asian indexes fell Monday following Wall Street's plunge last week as credit concerns continued to roil markets.
 
Cooper Tire posts 2nd-quarter profit
Aug 6 2007 9:39AM (CT)
FINDLAY, Ohio (AP) - Cooper Tire & Rubber Co. on Monday said that it swung to a profit in the second quarter as the company continued to benefit from cost cuts introduced nearly a year ago and also enjoyed higher prices in North America and increasing sales overseas.
 
High-tech aims for Olympic food safety
Aug 6 2007 9:18AM (CT)
BEIJING (AP) - Embarrassed by recent scandals over the safety of Chinese food products, organizing officials for next year's Beijing Olympics spelled out high-tech plans Monday to make sure healthy food is delivered to the 10,500 athletes who will reside in the Olympic Village.
 
High-tech aims for Olympic food safety
Aug 6 2007 9:18AM (CT)
BEIJING (AP) - Embarrassed by recent scandals over the safety of Chinese food products, organizing officials for next year's Beijing Olympics spelled out high-tech plans Monday to make sure healthy food is delivered to the 10,500 athletes who will reside in the Olympic Village.
 
Ex-Home Depot boss at Chrysler helm
Aug 6 2007 6:50AM (CT)
DETROIT (AP) - Chrysler's new private owners say they have picked former Home Depot boss Bob Nardelli to head the No. 3 U.S. automaker in its effort to return to financial health.
 
Jersey Fresh Skim Free hits shelves Tues
Aug 6 2007 3:02AM (CT)
WALLINGTON, N.J. (AP) - Herds of New Jersey dairy cows are about to become the latest players in a growing local foods trend.
 
Slide Inc. emerges as No. 1 widget maker
Aug 6 2007 12:00AM (CT)
SAN FRANCISCO (AP) - Max Levchin already changed electronic commerce as a co-founder of PayPal, an online payment service that is expected to process more than $40 billion in transactions this year.
 
   

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