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Top Toyota exec to join Chrysler
Sep 6 2007 11:55PM (CT)
DETROIT (AP) - Toyota's top North American executive is defecting to Chrysler, a move that stunned the auto industry and gives a highly regarded leader and consummate salesman the chance to turn things around at the struggling U.S. automaker.
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Top Toyota exec to join Chrysler
Sep 6 2007 11:55PM (CT)
DETROIT (AP) - Toyota's top North American executive is defecting to Chrysler, a move that stunned the auto industry and gives a highly regarded leader and consummate salesman the chance to turn things around at the struggling U.S. automaker.
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Top Toyota exec to join Chrysler
Sep 6 2007 11:55PM (CT)
DETROIT (AP) - Toyota's top North American executive is defecting to Chrysler, a move that stunned the auto industry and gives a highly regarded leader and consummate salesman the chance to turn things around at the struggling U.S. automaker.
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Hovnanian reports 4th loss in a row
Sep 6 2007 11:18PM (CT)
NEWARK, N.J. (AP) - As economic reports continue to show a struggling housing market, earnings figures from another luxury homebuilder Thursday did nothing to contradict them.
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Call centers booming in Caribbean
Sep 6 2007 11:14PM (CT)
SAN JUAN, Puerto Rico (AP) - In a global search for low-cost customer service, AOL considered call centers in India and other hotspots _ then settled on the tiny island of St. Lucia.
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Call centers booming in Caribbean
Sep 6 2007 11:14PM (CT)
SAN JUAN, Puerto Rico (AP) - In a global search for low-cost customer service, AOL considered call centers in India and other hotspots _ then settled on the tiny island of St. Lucia.
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Report: Greenspan says turmoil like '98
Sep 6 2007 11:03PM (CT)
NEW YORK (AP) - "The human race has never found a way to confront bubbles," former Federal Reserve Chairman Alan Greenspan said Thursday in reference to the euphoria that can precede contractions, or reactions, like the current market turmoil, according to a published report.
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Auto union talks may go beyond deadline
Sep 6 2007 10:14PM (CT)
DETROIT (AP) - Contract talks between the United Auto Workers and the Detroit Three could run beyond a Sept. 14 deadline because so many issues are unsettled, including the companies' desire to pay the union to take over retiree health care, a person briefed on the bargaining said.
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Auto union talks may go beyond deadline
Sep 6 2007 10:14PM (CT)
DETROIT (AP) - Contract talks between the United Auto Workers and the Detroit Three could run beyond a Sept. 14 deadline because so many issues are unsettled, including the companies' desire to pay the union to take over retiree health care, a person briefed on the bargaining said.
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Oil prices rise above $76 a barrel
Sep 6 2007 10:12PM (CT)
SINGAPORE (AP) - Oil prices gained Friday after U.S. government data showed a larger-than-expected decline in domestic crude stocks.
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Delphi, GM sign settlement agreement
Sep 6 2007 5:35PM (CT)
DETROIT (AP) - Delphi Corp. announced Thursday it has signed comprehensive settlement and restructuring agreements with former parent General Motors Corp. _ a major milestone in its nearly two-year quest to emerge from bankruptcy protection.
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Krispy Kreme losses widen in 2Q
Sep 6 2007 5:34PM (CT)
CHARLOTTE, N.C. (AP) - Krispy Kreme Doughnuts Inc. said Thursday its fiscal second-quarter loss widened as the doughnut maker continues its recovery from a bad stumble several years ago.
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Retailers report solid sales for August
Sep 6 2007 5:32PM (CT)
NEW YORK (AP) - Consumers undeterred by escalating credit problems and a weakening housing market went on a back-to-school buying spree last month, helping many retailers rebound from July's disappointing sales. But analysts are still worried that economic concerns might curtail shopping in the critical months ahead.
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Retailers report solid sales for August
Sep 6 2007 5:32PM (CT)
NEW YORK (AP) - Consumers undeterred by escalating credit problems and a weakening housing market went on a back-to-school buying spree last month, helping many retailers rebound from July's disappointing sales. But analysts are still worried that economic concerns might curtail shopping in the critical months ahead.
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Retailers report solid sales for August
Sep 6 2007 5:32PM (CT)
NEW YORK (AP) - Consumers undeterred by escalating credit problems and a weakening housing market went on a back-to-school buying spree last month, helping many retailers rebound from July's disappointing sales. But analysts are still worried that economic concerns might curtail shopping in the critical months ahead.
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Retailers report solid sales for August
Sep 6 2007 5:32PM (CT)
NEW YORK (AP) - Consumers undeterred by escalating credit problems and a weakening housing market went on a back-to-school buying spree last month, helping many retailers rebound from July's disappointing sales. But analysts are still worried that economic concerns might curtail shopping in the critical months ahead.
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H&R Block shareholders dump 3 on board
Sep 6 2007 5:29PM (CT)
KANSAS CITY, Mo. (AP) - H&R Block Inc. shareholders on Thursday voted to replace three members of the company's board of directors with nominees chosen by a dissident stockholder. Breeden Capital Partners, a Greenwich, Conn.-based investment fund that owns 1.8 percent of H&R Block's shares, estimated its nominees received about 82 percent of the votes cast.
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Supreme Court rejects Vioxx class action
Sep 6 2007 5:26PM (CT)
TRENTON, N.J. (AP) - In a major legal victory for Merck & Co. in its massive Vioxx litigation, New Jersey's Supreme Court on Thursday rejected a potential class-action lawsuit that could have cost the drugmaker up to $18 billion.
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Supreme Court rejects Vioxx class action
Sep 6 2007 5:26PM (CT)
TRENTON, N.J. (AP) - In a major legal victory for Merck & Co. in its massive Vioxx litigation, New Jersey's Supreme Court on Thursday rejected a potential class-action lawsuit that could have cost the drugmaker up to $18 billion.
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New mortgage foreclosures set record
Sep 6 2007 5:25PM (CT)
WASHINGTON (AP) - Homeowners, struggling to deal with sharp increases in their adjustable mortgage payments, got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified.
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New mortgage foreclosures set record
Sep 6 2007 5:25PM (CT)
WASHINGTON (AP) - Homeowners, struggling to deal with sharp increases in their adjustable mortgage payments, got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified.
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New mortgage foreclosures set record
Sep 6 2007 5:25PM (CT)
WASHINGTON (AP) - Homeowners, struggling to deal with sharp increases in their adjustable mortgage payments, got hit with a record number of foreclosure notices in the spring as the crisis in subprime lending intensified.
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Lehman, National City scale back
Sep 6 2007 4:48PM (CT)
NEW YORK (AP) - Lehman Brothers Holdings Inc. and National City Corp. said Thursday more than 2,000 workers will be laid off as the financial institutions scale back their struggling mortgage businesses.
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Oil, gold prices climb on tension abroad
Sep 6 2007 2:49PM (CT)
NEW YORK (AP) - Oil prices climbed Thursday on a report that showed shrinking U.S. supplies of crude and gasoline, and as news of violence in the Middle East and rising tensions in Nigeria unnerved investors.
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New mortgage foreclosures set record
Sep 6 2007 1:58PM (CT)
WASHINGTON (AP) - The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages.
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New mortgage foreclosures set record
Sep 6 2007 1:58PM (CT)
WASHINGTON (AP) - The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages.
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ECB, BoE hold rates steady
Sep 6 2007 1:37PM (CT)
FRANKFURT, Germany (AP) - The European Central Bank and the Bank of England held interest rates steady Thursday as they tried to calm jittery money markets.
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Campbell Soup 4Q profit rises
Sep 6 2007 1:19PM (CT)
MOUNT LAUREL, N.J. (AP) - Campbell Soup Co.'s profit rose 39 percent for the fourth quarter versus results a year ago that were depressed by costs related to sales of some operations in Ireland and the United Kingdom.
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Treasuries turn lower on stock strength
Sep 6 2007 12:08PM (CT)
NEW YORK (AP) - Treasury prices turned lower Thursday after new data planted the suggestion that a strong economy and persistent inflation could make the Federal Reserve reluctant to drop interest rates.
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Cable ads mark switch to digital TV
Sep 6 2007 10:44AM (CT)
WASHINGTON (AP) - The cable television industry has launched a $200 million advertising campaign to assure customers they will still be able to watch their favorite programs after the transition to digital broadcasting.
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Growth steady in U.S. service sector
Sep 6 2007 10:40AM (CT)
NEW YORK (AP) - The U.S. service economy expanded at the same pace in August as in July, surprising analysts who had been looking for slower growth.
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Stocks dip after economic data
Sep 6 2007 9:40AM (CT)
NEW YORK (AP) - Stocks dipped Thursday as investors, trying to gauge whether the economy is holding up in the face of a weakening housing market, grappled with mixed data and soaring oil prices.
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Stocks dip after economic data
Sep 6 2007 9:40AM (CT)
NEW YORK (AP) - Stocks dipped Thursday as investors, trying to gauge whether the economy is holding up in the face of a weakening housing market, grappled with mixed data and soaring oil prices.
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China seeks more foreign research
Sep 6 2007 9:13AM (CT)
DALIAN, China (AP) - Chinese Premier Wen Jiabao appealed to foreign companies Thursday to bring more research and development his nation, promising to protect their intellectual property amid worries of rampant piracy.
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Toyota exec leaves to join Chrysler
Sep 6 2007 8:29AM (CT)
TOKYO (AP) - Jim Press, who became the first non-Japanese on Toyota's board earlier this year, is stepping down to run Chrysler LLC's sales and marketing operations.
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Bank of England holds rates steady
Sep 6 2007 6:15AM (CT)
LONDON (AP) - The Bank of England held its benchmark interest rate steady at 5.75 percent on Thursday. The decision was anticipated after weeks of turmoil in global markets.
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Ace discovers $154M accounting shortfall
Sep 6 2007 5:18AM (CT)
CHICAGO (AP) - Ace Hardware Corp. discovered an approximately $154 million shortfall on its books while preparing to convert from retailer-owned cooperative to for-profit corporation and likely will have to restate its financial results for the last five years, President and CEO Ray Griffith said Wednesday.
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Report: VW offices leaving Mich. for Va.
Sep 6 2007 5:16AM (CT)
LANSING, Mich. (AP) - Volkswagen AG is moving its North American headquarters from Michigan to northern Virginia in hopes of attracting a skilled young work force and to get closer to its customers, The Washington Post reported Thursday.
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Carmakers switching to electric motors
Sep 6 2007 4:52AM (CT)
DETROIT (AP) - Beneath your car's hood, there are belts hooked to the engine, running the power steering, air conditioning and other items that drag on the engine and cut gas mileage. But as fuel efficiency becomes paramount with high gas prices and pending government regulations, automakers across the world are trying to get rid of as many belts as they can, switching them to electric motors.
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Carmakers switching to electric motors
Sep 6 2007 4:52AM (CT)
DETROIT (AP) - Beneath your car's hood, there are belts hooked to the engine, running the power steering, air conditioning and other items that drag on the engine and cut gas mileage. But as fuel efficiency becomes paramount with high gas prices and pending government regulations, automakers across the world are trying to get rid of as many belts as they can, switching them to electric motors.
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Japanese stocks climb 0.6 percent
Sep 6 2007 2:49AM (CT)
TOKYO (AP) - Japanese stocks rose Thursday after three-straight days of decline, with short-covering and bargain-hunting in oil shares outpacing drops in the real estate sector.
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