Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
Japanese stocks lower; dollar higher
Sep 7 2005 10:28PM (CT)
TOKYO (AP) - Japanese stocks fell Thursday morning as traders sold steel, construction, and real estate issues following their recent rally. The dollar rose against the yen and euro.
|
|
|
Ford, Toyota recall nearly 5M trucks, SUVs
Sep 7 2005 10:03PM (CT)
WASHINGTON (AP) - Ford and Toyota, two of the world's largest automakers, on Wednesday recalled nearly 5 million pickup trucks and sport utility vehicles in separate moves to respond to concerns of engine fires and problems with the power-steering system.
|
|
|
Hotel group Accor more than doubles profit
Sep 7 2005 9:50PM (CT)
PARIS (AP) - Europe's largest hotel group Accor SA said Wednesday its first-half net profit more than doubled, as it announced that CEO Jean-Marc Espalioux is to step down in January.
|
|
|
Pacific Rim finance ministers discuss oil
Sep 7 2005 8:50PM (CT)
SEOGWIPO, South Korea (AP) - Pacific Rim finance officials kicked off two days of talks Thursday focusing on the economic threat of high oil prices, China's currency system and efforts to reach a new global trade agreement.
|
|
|
New York judge grants Ebbers bail
Sep 7 2005 8:26PM (CT)
NEW YORK (AP) - A judge ruled Wednesday that former WorldCom CEO Bernard Ebbers can stay out of prison while he appeals his conviction for leading an $11 billion accounting fraud _ a process that could take more than a year.
|
|
|
Delta cuts flights at Cincinnati airport
Sep 7 2005 7:37PM (CT)
CINCINNATI (AP) - Debt-plagued Delta Air Lines Inc. is slashing a quarter of its flights at its second-largest hub, a move that could cost up to 1,000 jobs.
|
|
|
BMW joins GM, DaimlerChrysler on engines
Sep 7 2005 7:32PM (CT)
DETROIT (AP) - BMW plans to join General Motors Corp. and DaimlerChrysler AG in a joint effort to develop fuel-saving hybrid engines, the companies announced Wednesday.
|
|
|
Hurricane Katrina to reduce employment
Sep 7 2005 7:01PM (CT)
WASHINGTON (AP) - Hurricane Katrina will have a greater economic impact than previous killer storms, though the energy price spikes, slower growth and job losses will not be enough to push the country into a recession.
|
|
|
United files plan to leave bankruptcy
Sep 7 2005 6:58PM (CT)
CHICAGO (AP) - United Airlines intends to emerge from bankruptcy in February as a much more financially sound carrier than the one that has been restructuring under court protection since 2002, parent UAL Corp. said Wednesday in filing its long-delayed reorganization plan.
|
|
|
Survey: Economy expanding before Katrina
Sep 7 2005 6:57PM (CT)
WASHINGTON (AP) - Factories were chugging, cash registers were busy and jobs were growing in the late summer _ fresh proof that the economy was in fine fettle before Hurricane Katrina slammed into the Gulf Coast, spreading death and destruction.
|
|
|
Former Qwest exec settlement with SEC OK'd
Sep 7 2005 6:55PM (CT)
DENVER (AP) - A federal judge on Wednesday approved a $2.1 million civil settlement for a former Qwest Communications executive accused of participating in a conspiracy that forced the phone company to restate billions of dollars in revenue.
|
|
|
DOE: Oil production to be normal in Nov.
Sep 7 2005 6:55PM (CT)
WASHINGTON (AP) - Domestic oil production and refinery output should return to pre-hurricane levels by November, the Energy Department said Friday, as repairs are made to damaged oil rigs and Gulf coast refineries.
|
|
|
GlaxoSmithKline to purchase ID Biomedical
Sep 7 2005 6:52PM (CT)
NEW YORK (AP) - GlaxoSmithKline PLC said Wednesday it has agreed to buy ID Biomedical Corp., maker of the Fluviral flu shot, for about $1.4 billion as it moves to position itself as a leading influenza-vaccine manufacturer. ID Biomedical shares soared on the news.
|
|
|
Northrop Grumman teams with Airbus parent
Sep 7 2005 6:22PM (CT)
LOS ANGELES (AP) - Northrop Grumman Corp. said Wednesday it will team up with the parent of European aircraft-maker Airbus to bid for a contract to build a new refueling plane for the U.S. military.
|
|
|
Investors sue troubled hedge fund
Sep 7 2005 6:04PM (CT)
STAMFORD, Conn. (AP) - A Jewish philanthropy organization is seeking more than $4 million in a lawsuit against a hedge fund under state and federal investigation, while another investor called the fund a massive fraud and a classic Ponzi scheme.
|
|
|
Oil prices fall; gasoline prices decline
Sep 7 2005 5:55PM (CT)
WASHINGTON (AP) - The supply fears that dominated energy-market psychology in the aftermath of Hurricane Katrina receded somewhat on Wednesday as attention turned to expectations of softening demand. Futures prices for crude oil, gasoline and heating oil fell.
|
|
|
Bond prices decline on rate increase fears
Sep 7 2005 5:53PM (CT)
NEW YORK (AP) - Treasury prices declined Wednesday as a combination of economic data, easing energy prices and Federal Reserve rhetoric increased expectations that the Fed would raise interest rates by another quarter-point in September.
|
|
|
Gulf oil production faces high hurdles
Sep 7 2005 5:48PM (CT)
NEW YORK (AP) - Several days after Hurricane Katrina crashed ashore in Louisiana, an offshore energy producer contacted JF Moore International Inc., with an unusual request.
|
|
|
Cruise lines pay more for fuel after storm
Sep 7 2005 5:48PM (CT)
MIAMI (AP) - Higher fuel costs caused by Hurricane Katrina are expected to cut into cruise lines' profits, but industry officials said the deadly hurricane season hasn't kept passengers away.
|
|
|
Miss. shipyard toils to resume business
Sep 7 2005 5:47PM (CT)
PASCAGOULA, Miss. (AP) - Donald Ashford can't go home. Hurricane Katrina saw to that when it forced his family from their Moss Point, Miss., home 10 days ago. But he and thousands of other workers at Northrop Grumman Corp.'s sprawling naval shipyard can and have returned to work.
|
|
|
Insurers await decision on drug plan
Sep 7 2005 5:45PM (CT)
HARTFORD, Conn. (AP) - Seniors on Medicare are about to be swamped with choices as the federal government enacts a massive prescription drug program and health insurers begin battling to sign up customers across the country.
|
|
|
Businesses try to keep going after Katrina
Sep 7 2005 5:45PM (CT)
ADDISON, Texas (AP) - In the spare confines of Blanchard and Co.'s new corporate offices in this suburb north of Dallas the phones are working, but there's only one computer so far.
|
|
|
Northwest, mechanics to talk on Thursday
Sep 7 2005 5:36PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. will resume talks with striking mechanics on Thursday and demand steeper cuts than those that prompted the workers to walk out.
|
|
|
Hurricane Katrina to reduce employment
Sep 7 2005 5:33PM (CT)
WASHINGTON (AP) - Hurricane Katrina will have a greater economic impact than previous killer storms, though the energy price spikes, slower growth and job losses will not be enough to push the country into a recession.
|
|
|
Massey revises outlook on fuel costs
Sep 7 2005 5:27PM (CT)
CHARLESTON, W.Va. (AP) - Higher diesel and explosives costs and lower-than-expected mine productivity will cause Massey Energy Co. to miss its third quarter shipping targets, the company announced Wednesday.
|
|
|
Albertson's second-quarter profit rises
Sep 7 2005 5:21PM (CT)
BOISE, Idaho (AP) - Albertson's Inc., the nation's second-largest supermarket chain, said Wednesday its second-quarter earnings edged up 3 percent from last year, but the results failed to meet Wall Street's expectations.
|
|
|
Novartis to acquire Alnylam Pharma stake
Sep 7 2005 5:12PM (CT)
NEW YORK (AP) - Swiss drug maker Novartis AG said Wednesday it will acquire nearly 20 percent of Cambridge, Mass.-based biopharmaceutical company Alnylam Pharmaceuticals Inc., as part of a deal to develop drugs based on manipulating natural genetic mechanisms.
|
|
|
Mervyns closing 62 stores in 8 states
Sep 7 2005 5:10PM (CT)
SAN FRANCISCO (AP) - Long-struggling retailer Mervyns LLC plans to close nearly a quarter of its stores and lay off 4,800 employees in an attempt to cut the chain's losses.
|
|
|
Gulf oil production faces high hurdles
Sep 7 2005 5:10PM (CT)
NEW YORK (AP) - Several days after Hurricane Katrina crashed ashore in Louisiana, an offshore energy producer contacted JF Moore International Inc., with an unusual request.
|
|
|
Marsh & McLennan to sell unit
Sep 7 2005 5:00PM (CT)
NEW YORK (AP) - Marsh & McLennan Cos., the world's largest insurance broker, has agreed to sell the Crump Group Inc. wholesale broking business of its Marsh Inc. unit to an affiliate of J.C. Flowers & Co.
|
|
|
Capital One renegotiates Hibernia deal
Sep 7 2005 4:51PM (CT)
McLEAN, Va. (AP) - Capital One Financial Corp. has renegotiated its acquisition of Louisiana's largest bank to account for the impact of Hurricane Katrina, reducing its offer for Hibernia Corp. by about 9 percent to $5 billion and delaying the closing of the deal by at least a month.
|
|
|
Chevron unclear on Miss. refinery's return
Sep 7 2005 4:38PM (CT)
SAN RAMON, Calif. (AP) - The largest oil refinery shut down by Hurricane Katrina remains out of operation and owner Chevron Corp. said late Tuesday it's unclear when refining will resume at the Mississippi site.
|
|
|
Wednesday's commodities roundup
Sep 7 2005 4:25PM (CT)
NEW YORK (AP) - Oil prices slumped Wednesday as supply worries eased and the government warned that the record prices produced by Hurricane Katrina will eventually cut into consumption.
|
|
|
New law lets phone companies offer TV
Sep 7 2005 4:24PM (CT)
AUSTIN, Texas (AP) - Gov. Rick Perry signed into law Wednesday a bill that will make it easier for phone companies to offer advanced interactive television services, potentially posing stiff competition for cable companies.
|
|
|
Ford recalls 3.8 million pickups, SUVs
Sep 7 2005 4:15PM (CT)
WASHINGTON (AP) - Ford Motor Co. on Wednesday recalled 3.8 million pickup trucks and sport utility vehicles for a cruise control switch suspected of causing engine fires. It is the fifth largest auto industry recall in U.S. history.
|
|
|
States sue U.S. Energy Dept. on standards
Sep 7 2005 3:52PM (CT)
ALBANY, N.Y. (AP) - Fifteen states and New York City on Wednesday sued the U.S. Department of Energy for failing to enact stronger energy standards required by Congress for 22 common appliances.
|
|
|
Health insurance co. limits proposed
Sep 7 2005 3:52PM (CT)
ATLANTA (AP) - A draft order released by Louisiana's insurance commissioner Wednesday would significantly restrict the ability of property and health insurance companies to cancel the policies of Hurricane Katrina victims in that state.
|
|
|
Navistar posts higher third-quarter profit
Sep 7 2005 3:50PM (CT)
NEW YORK (AP) - Navistar International Inc. stock rose Wednesday after the company said its earnings rose because of higher shipments, despite the price of steel and the cost making engines that comply with 2007 emissions standards.
|
|
|
Job fairs help Katrina victims find work
Sep 7 2005 3:41PM (CT)
HOUSTON (AP) - More than a week after Hurricane Katrina left her city in sodden ruins, Beth Bridges isn't dwelling on what she lost. Like thousands of other New Orleans refugees in Houston and elsewhere, she's hunting for a job, a home and a new start.
|
|
|
Boston Scientific shares sink on warning
Sep 7 2005 3:38PM (CT)
BOSTON (AP) - Boston Scientific Corp. on Wednesday said its third-quarter earnings and revenue will fall short of its expectations, a warning that sent the medical device maker's shares down more than 7 percent to their lowest level in more than two years.
|
|
|
Final OK given to $110M CVS settlement
Sep 7 2005 3:23PM (CT)
BOSTON (AP) - A federal judge gave final approval Wednesday to the $110 million settlement of a shareholders' lawsuit accusing CVS Corp. of making misleading statements to artificially raise its stock price.
|
|
|
TRW gets controlling stake in Dalphimetal
Sep 7 2005 3:15PM (CT)
LIVONIA, Mich. (AP) - Auto supplier TRW Automotive Holdings Corp. plans to acquire a controlling interest in Spanish auto supplier Dalphimetal.
|
|
|
Poland's LOT chooses Boeing over Airbus
Sep 7 2005 3:14PM (CT)
WARSAW, Poland (AP) - Poland's national carrier on Wednesday chose new jets from Boeing Co. instead of from Europe's Airbus consortium.
|
|
|
Grain shipments resume on Mississippi
Sep 7 2005 3:08PM (CT)
WASHINGTON (AP) - The hurricane-ravaged lower Mississippi River is open to two-way traffic for grain shipments from the Gulf Coast, and 63 percent of grain elevator capacity has been restored, the government said Wednesday.
|
|
|
Delta to cut up to 1,000 more positions
Sep 7 2005 1:33PM (CT)
ATLANTA (AP) - Delta Air Lines Inc. said Wednesday that up to 1,000 jobs could be cut as part of its effort to accelerate its transformation plan.
|
|
|
South Korean stock market hits record
Sep 7 2005 1:00PM (CT)
SEOUL, South Korea (AP) - South Korea's stock market soared to a new high Wednesday, surpassing its old record set nearly 11 years ago and symbolizing the economy's resurgence from its collapse during the 1997-98 Asian financial crisis.
|
|
|
BAE Systems' profit surpasses expectations
Sep 7 2005 12:55PM (CT)
LONDON (AP) - Britain's BAE Systems PLC, Europe's largest defense contractor, reported better-than-expected half-year profits Wednesday, boosted by its armored-vehicles division and its Eurofighter Typhoon combat jet program.
|
|
|
LVMH profit surges on tourism recovery
Sep 7 2005 12:42PM (CT)
PARIS (AP) - French luxury group LVMH Moet Hennessy Louis Vuitton SA said Wednesday its net profit rose 19 percent in the first half of the year as the recovery in travel and tourism boosted its upscale retail outlets.
|
|
|
CardioTech stock up on FDA device approval
Sep 7 2005 12:08PM (CT)
WILMINGTON, Mass. (AP) - Shares of CardioTech International Inc. jumped sharply Wednesday after the medical device maker said the Food and Drug Administration approved its coated heart-lung bypass products, which are designed to prevent patients' immune systems from rejecting foreign objects.
|
|
|
Italian official demands exec's resignation
Sep 7 2005 11:27AM (CT)
ROME (AP) - Foreign Minister Gianfranco Fini on Wednesday demanded the resignation of Italy's central bank chief, stepping up pressure on Antonio Fazio to quit before a European finance meeting this weekend.
|
|
|
Cruise lines pay more for fuel after storm
Sep 7 2005 11:12AM (CT)
MIAMI (AP) - Higher fuel costs caused by Hurricane Katrina are expected to cut into cruise lines' profits, but industry officials said the deadly hurricane season hasn't kept passengers away.
|
|
|
Agency: less than a fifth of aid to be gas
Sep 7 2005 10:34AM (CT)
PARIS (AP) - Less than a fifth of the emergency oil and fuel stock being released by governments to cope with Hurricane Katrina's impact on oil markets will be in the form of gasoline, the International Energy Agency said Wednesday.
|
|
|
HealthSouth board chair May resigns
Sep 7 2005 10:22AM (CT)
BIRMINGHAM, Ala. (AP) - HealthSouth Corp. chairman Bob May, who led the rehabilitation chain through the fallout of a massive accounting scandal, has resigned and is being replaced by another director.
|
|
|
U.S. dollar gains on euro
Sep 7 2005 10:19AM (CT)
BERLIN (AP) - The U.S. dollar rose against the euro and other major currencies Wednesday as the U.S. Congressional Budget Office reported Hurricane Katrina's impact would damage the country's economy but not be "overwhelming."
|
|
|
Group: African pipeline threatens rights
Sep 7 2005 9:53AM (CT)
DAKAR, Senegal (AP) - Amnesty International accused U.S. oil company ExxonMobil of putting profits over human rights with its involvement in a multibillion dollar oil pipeline that runs from Chad to a seaport in the West African nation of Cameroon.
|
|
|
EU states back deal to unblock textiles
Sep 7 2005 9:40AM (CT)
BRUSSELS, Belgium (AP) - European Union governments on Wednesday backed a deal to unblock Chinese textiles held at EU borders, ending a trade dispute that saw some 77 million garments pile up after imports broke through 2005 limits.
|
|
|
Blair defends outsourcing work to others
Sep 7 2005 9:38AM (CT)
NEW DELHI (AP) - British Prime Minister Tony Blair on Wednesday defended European companies that outsource work to low-wage countries like India, saying it helps the firms become more competitive and in the process enriches Europe.
|
|
|
Striking Northwest workers picket in Ohio
Sep 7 2005 9:37AM (CT)
TOLEDO, Ohio (AP) - Striking Northwest Airlines Corp. employees set up a picket line at a rail yard to bring attention to their labor dispute, slowing freight train traffic in northwest Ohio.
|
|
|
China's Huaxia Bank sells stake to co.
Sep 7 2005 9:25AM (CT)
SHANGHAI, China (AP) - A stake in second-tier Chinese lender Huaxia Bank has been auctioned off to a Singapore-based investment firm, the company said Wednesday, in the first such sale for China.
|
|
|
Credit Agricole second-quarter profit up
Sep 7 2005 8:57AM (CT)
PARIS (AP) - Credit Agricole SA, France's largest retail bank, said Wednesday its second-quarter net profit rose 23 percent, underpinned by the continued strong performance of its corporate investment bank and regional network.
|
|
|
Ericsson plans $1B investment in China
Sep 7 2005 8:51AM (CT)
SHANGHAI, China (AP) - Swedish wireless-equipment maker Telefon AB LM Ericsson says it plans to invest $1 billion in China over the next five years, a senior company official said Wednesday.
|
|
|
India and EU reach agreement on trade
Sep 7 2005 8:28AM (CT)
NEW DELHI (AP) - India and the EU on Wednesday signed agreements on trade, technology and security cooperation, and India underscored what officials said was a turning point in relations between the two sides by announcing a plan to spend $2.2 billion on new Airbus planes.
|
|
|
Lego may move production from Denmark
Sep 7 2005 8:15AM (CT)
COPENHAGEN, Denmark (AP) - Struggling Danish toy maker Lego Group, famous for its colorful plastic building blocks, said Wednesday it is considering moving all or parts of its production to Eastern Europe or China.
|
|
|
Strike disrupts output at Total refineries
Sep 7 2005 7:49AM (CT)
PARIS (AP) - French oil company Total SA said Wednesday a strike called after four refinery workers were disciplined was disrupting output at five of its six French oil refineries.
|
|
|
Norske Skog buys out PanAsia in $600M deal
Sep 7 2005 7:22AM (CT)
OSLO, Norway (AP) - Norwegian paper maker Norske Skog on Wednesday announced its takeover of South Korea's PanAsia in a $600 million (480 million euros) deal the company said makes it the world's largest newsprint manufacturer.
|
|
|
Bertelsmann first-half profit declines
Sep 7 2005 7:08AM (CT)
BERLIN (AP) - German media company Bertelsmann AG said Wednesday its first-half net profit fell by half because of the cost of restructuring music group Sony BMG Music Entertainment.
|
|
|
Ahold swings to profit in second quarter
Sep 7 2005 6:56AM (CT)
AMSTERDAM, Netherlands (AP) - Dutch supermarket operator Royal Ahold NV returned to a profit in the second quarter, but predicted trouble in reaching its growth targets for next year.
|
|
|
Alitalia flight attendants continue strike
Sep 7 2005 6:51AM (CT)
ROME (AP) - Flight attendants at Italy's ailing national carrier, Alitalia, were on strike for a second day Wednesday, sparking fears that air traffic in Italy would be snarled.
|
|
|
Heineken first half profit falls 8 percent
Sep 7 2005 6:44AM (CT)
AMSTERDAM, Netherlands (AP) - Dutch brewer Heineken NV reported first half net profit fell by 8 percent to 345 million euros ($430.4 million) from 376 million euros a year earlier, blaming the weak dollar and costs from restructuring its business in Western Europe.
|
|
|
Venezuela, Caribbean nations sign oil deal
Sep 7 2005 6:29AM (CT)
MONTEGO BAY, Jamaica (AP) - An oil trading initiative offered by Venezuelan President Hugo Chavez as an alternative to free trade deals backed by the United States has received final approval from Caribbean leaders amid rising world fuel prices.
|
|
|
Officials mount fight against Cogon grass
Sep 7 2005 5:11AM (CT)
CAMILLA, Ga. (AP) - Cogon grass, a hardy weed that has overwhelmed forests in Africa and Asia, has established a beachhead in the Southeast, where officials hope to stamp it out, or at least stop its invasive spread.
|
|
|
Indian Airlines to buy 43 Airbus jets
Sep 7 2005 4:07AM (CT)
NEW DELHI (AP) - Indian Airlines agreed to buy 43 Airbus jets for US$2.2 billion, Indian Prime Minister Manmohan Singh said Wednesday.
|
|
|
S. Korea's stock index hits record high
Sep 7 2005 4:01AM (CT)
SEOUL, South Korea (AP) - South Korea's key stock index soared to an all-time closing high Wednesday, breaking the previous record set nearly 11 years ago, as lower oil prices led investors to bid up Hyundai Motor Co. and Samsung Electronics Co.
|
|
|
Search for gas in Miss. a daily odyssey
Sep 7 2005 2:52AM (CT)
BILOXI, Miss. (AP) - Pamela Brooks had to have gasoline _ even if it was only a few gallons and the price was ridiculous. On the hurricane-battered Mississippi coast, gasoline means getting around and surviving.
|
|
|
|
|
|