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More than $1B needed to make Forbes list
Sep 20 2007 11:47PM (CT)
NEW YORK (AP) - A billion dollars just doesn't go as far as it used to. For the first time, it takes more than $1 billion to earn a spot on Forbes magazine's list of the 400 richest Americans. The minimum net worth for inclusion in this year's rankings released Thursday was $1.3 billion, up $300 million from last year.
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More than $1B needed to make Forbes list
Sep 20 2007 11:47PM (CT)
NEW YORK (AP) - A billion dollars just doesn't go as far as it used to. For the first time, it takes more than $1 billion to earn a spot on Forbes magazine's list of the 400 richest Americans. The minimum net worth for inclusion in this year's rankings released Thursday was $1.3 billion, up $300 million from last year.
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Oil prices steady below $82 a barrel
Sep 20 2007 11:42PM (CT)
SINGAPORE (AP) - Oil prices fell slightly on profit-taking Friday but were expected to hold near record levels as traders kept a watchful eye on a potential tropical storm brewing off the west coast of Florida.
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Canadians find better bargains in US
Sep 20 2007 11:33PM (CT)
TORONTO (AP) - Canadians are expressing pride in their economy but might be more inclined to go on shopping sprees in the U.S. after the Canadian dollar reached parity with the U.S. dollar for the first time since 1976.
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Source: SEC subpoenas Apple CEO Jobs
Sep 20 2007 11:26PM (CT)
SAN JOSE, Calif. (AP) - Apple Inc. CEO Steve Jobs has been subpoenaed by the U.S. Securities and Exchange Commission to give a deposition in a stock-options backdating case against Apple's former general counsel, a person familiar with the case told The Associated Press Thursday.
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Borse Dubai gets stake in Nasdaq
Sep 20 2007 11:24PM (CT)
NEW YORK (AP) - Nasdaq Stock Market Inc. struck a complex deal to sell a 20-percent stake to the state-owned Borse Dubai in return for control of Sweden's leading stock market, but the plan met with some questions from U.S. politicians concerned it would raise security issues.
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Borse Dubai gets stake in Nasdaq
Sep 20 2007 11:24PM (CT)
NEW YORK (AP) - Nasdaq Stock Market Inc. struck a complex deal to sell a 20-percent stake to the state-owned Borse Dubai in return for control of Sweden's leading stock market, but the plan met with some questions from U.S. politicians concerned it would raise security issues.
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Borse Dubai gets stake in Nasdaq
Sep 20 2007 11:24PM (CT)
NEW YORK (AP) - Nasdaq Stock Market Inc. struck a complex deal to sell a 20-percent stake to the state-owned Borse Dubai in return for control of Sweden's leading stock market, but the plan met with some questions from U.S. politicians concerned it would raise security issues.
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Borse Dubai gets stake in Nasdaq
Sep 20 2007 11:24PM (CT)
NEW YORK (AP) - Nasdaq Stock Market Inc. struck a complex deal to sell a 20-percent stake to the state-owned Borse Dubai in return for control of Sweden's leading stock market, but the plan met with some questions from U.S. politicians concerned it would raise security issues.
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Borse Dubai gets stake in Nasdaq
Sep 20 2007 11:24PM (CT)
NEW YORK (AP) - Nasdaq Stock Market Inc. struck a complex deal to sell a 20-percent stake to the state-owned Borse Dubai in return for control of Sweden's leading stock market, but the plan met with some questions from U.S. politicians concerned it would raise security issues.
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UAW rejects retiree health care proposal
Sep 20 2007 11:17PM (CT)
DETROIT (AP) - General Motors Corp. and the United Auto Workers continued to discuss the automaker's proposal to pay the union to take on retiree health expenses, even though GM's latest offer on the issue was rejected by the UAW president, a person who has been briefed on the talks said.
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UAW rejects retiree health care proposal
Sep 20 2007 11:17PM (CT)
DETROIT (AP) - General Motors Corp. and the United Auto Workers continued to discuss the automaker's proposal to pay the union to take on retiree health expenses, even though GM's latest offer on the issue was rejected by the UAW president, a person who has been briefed on the talks said.
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Oracle's 1Q rises 25 pct., beating views
Sep 20 2007 8:35PM (CT)
SAN FRANCISCO (AP) - Oracle Corp. kicked off its new fiscal year with its biggest increase in software sales since the dot-com boom, propelling a first-quarter performance that topped analysts' expectations.
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ITC sees potential trade boon with Korea
Sep 20 2007 5:40PM (CT)
WASHINGTON (AP) - If approved by Congress, the proposed U.S.-Korea Free Trade Agreement probably would increase the U.S. gross domestic product by almost $12 billion through increased exports of merchandise and services, the International Trade Commission said Thursday.
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ITC sees potential trade boon with Korea
Sep 20 2007 5:40PM (CT)
WASHINGTON (AP) - If approved by Congress, the proposed U.S.-Korea Free Trade Agreement probably would increase the U.S. gross domestic product by almost $12 billion through increased exports of merchandise and services, the International Trade Commission said Thursday.
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Bernanke: Fresh assurances on economy
Sep 20 2007 5:16PM (CT)
WASHINGTON (AP) - President Bush acknowledged "some unsettling times" in the country's troubled housing and credit markets, while Federal Reserve Chairman Ben Bernanke offered fresh assurances steps would be taken to curb the fallout.
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Bernanke: Fresh assurances on economy
Sep 20 2007 5:16PM (CT)
WASHINGTON (AP) - President Bush acknowledged "some unsettling times" in the country's troubled housing and credit markets, while Federal Reserve Chairman Ben Bernanke offered fresh assurances steps would be taken to curb the fallout.
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Bernanke: Fresh assurances on economy
Sep 20 2007 5:16PM (CT)
WASHINGTON (AP) - President Bush acknowledged "some unsettling times" in the country's troubled housing and credit markets, while Federal Reserve Chairman Ben Bernanke offered fresh assurances steps would be taken to curb the fallout.
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Bernanke: Fresh assurances on economy
Sep 20 2007 5:16PM (CT)
WASHINGTON (AP) - President Bush acknowledged "some unsettling times" in the country's troubled housing and credit markets, while Federal Reserve Chairman Ben Bernanke offered fresh assurances steps would be taken to curb the fallout.
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Bernanke: Fresh assurances on economy
Sep 20 2007 5:16PM (CT)
WASHINGTON (AP) - President Bush acknowledged "some unsettling times" in the country's troubled housing and credit markets, while Federal Reserve Chairman Ben Bernanke offered fresh assurances steps would be taken to curb the fallout.
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Bernanke: Fresh assurances on economy
Sep 20 2007 5:16PM (CT)
WASHINGTON (AP) - President Bush acknowledged "some unsettling times" in the country's troubled housing and credit markets, while Federal Reserve Chairman Ben Bernanke offered fresh assurances steps would be taken to curb the fallout.
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Goldman Sachs benefits in 3Q, Bear hurt
Sep 20 2007 5:13PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc. on Thursday reported third-quarter results well ahead of Wall Street projections, as the world's largest investment bank took full advantage of its diversity to overcome a debt crisis. Rival Bear Stearns Cos. wasn't as lucky.
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Goldman Sachs benefits in 3Q, Bear hurt
Sep 20 2007 5:13PM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc. on Thursday reported third-quarter results well ahead of Wall Street projections, as the world's largest investment bank took full advantage of its diversity to overcome a debt crisis. Rival Bear Stearns Cos. wasn't as lucky.
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Banks slow their borrowing from the Fed
Sep 20 2007 4:31PM (CT)
WASHINGTON (AP) - Banks slowed their borrowing from the Federal Reserve this week, the first decline since the credit crisis began in early August. However, the average weekly total was still the second highest since the 2001 terrorist attacks.
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Banks slow their borrowing from the Fed
Sep 20 2007 4:31PM (CT)
WASHINGTON (AP) - Banks slowed their borrowing from the Federal Reserve this week, the first decline since the credit crisis began in early August. However, the average weekly total was still the second highest since the 2001 terrorist attacks.
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FedEx Corp. 1Q profit rises 4 percent
Sep 20 2007 3:56PM (CT)
MEMPHIS, Tenn. (AP) - FedEx Corp.'s earnings rose 4 percent in the first quarter of its 2008 fiscal year, beating Wall Street's expectations on strong international growth. However, the company lowered its outlook for the full year, blaming economic uncertainty from the downturn in the housing market.
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Bear Stearns 3Q profit falls 62 percent
Sep 20 2007 3:54PM (CT)
NEW YORK (AP) - Bear Stearns Cos. said Thursday its profit plunged 62 percent in the third quarter as turbulence in the debt market and wrong-way bets on mortgages crunched the investment bank's credit portfolio and bond business.
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Circuit City swings to loss in 2Q
Sep 20 2007 3:49PM (CT)
RICHMOND, Va. (AP) - Electronics retailer Circuit City Stores Inc. said Thursday it lost $62.8 million in its second fiscal quarter, on lower overall sales and continued restructuring activity.
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Gold rises to 27-year high
Sep 20 2007 3:48PM (CT)
NEW YORK (AP) - Gold surged to a 27-year high Thursday as investors sought refuge from a tumbling U.S. dollar, which skidded amid expectations that interest rates will keep falling.
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Tighter credit stalling economy's growth
Sep 20 2007 3:34PM (CT)
NEW YORK (AP) - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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Tighter credit stalling economy's growth
Sep 20 2007 3:34PM (CT)
NEW YORK (AP) - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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Tighter credit stalling economy's growth
Sep 20 2007 3:34PM (CT)
NEW YORK (AP) - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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Tighter credit stalling economy's growth
Sep 20 2007 3:34PM (CT)
NEW YORK (AP) - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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Tighter credit stalling economy's growth
Sep 20 2007 3:34PM (CT)
NEW YORK (AP) - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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Tighter credit stalling economy's growth
Sep 20 2007 3:34PM (CT)
NEW YORK (AP) - Strained by a tight credit market, the nation's economy should stumble along at a slower pace in coming months, but it may find help from lower interest rates and possible employment gains.
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Toy recalls put testing labs on overtime
Sep 20 2007 3:22PM (CT)
ENFIELD, Conn. (AP) - Gone is the 40-hour work week at Specialized Technology Resources Inc. Boxes of toys are piling up in the middle of its testing lab, workers are coming in on weekends, and product testers who normally would check tools or candles are working on chess sets and plastic cars.
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Toy recalls put testing labs on overtime
Sep 20 2007 3:22PM (CT)
ENFIELD, Conn. (AP) - Gone is the 40-hour work week at Specialized Technology Resources Inc. Boxes of toys are piling up in the middle of its testing lab, workers are coming in on weekends, and product testers who normally would check tools or candles are working on chess sets and plastic cars.
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Toy recalls put testing labs on overtime
Sep 20 2007 3:22PM (CT)
ENFIELD, Conn. (AP) - Gone is the 40-hour work week at Specialized Technology Resources Inc. Boxes of toys are piling up in the middle of its testing lab, workers are coming in on weekends, and product testers who normally would check tools or candles are working on chess sets and plastic cars.
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Rates on 30-year mortgages inch up
Sep 20 2007 2:30PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages, after dropping to their lowest point in four months, edged up this week.
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Airline industry shelving paper tickets
Sep 20 2007 1:37PM (CT)
NEW YORK (AP) - Next summer, paper airline tickets will go the way of vinyl records and rotary-dial phones: They won't entirely disappear, but they'll be hard to find.
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SEC details look at mortgage market woes
Sep 20 2007 12:33PM (CT)
WASHINGTON (AP) - The government is casting a wide net in its scrutiny of Wall Street banks, investors, credit-rating agencies and others and the role they played in the subprime mortgage crisis.
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Treasuries sell off on inflation concerns
Sep 20 2007 12:03PM (CT)
NEW YORK (AP) - Long-term Treasurys sold off for a third straight session Thursday, wounded by ongoing worries that this week's U.S. rate cuts will accelerate inflation and by new concerns that Saudi Arabia may lighten its Treasury holdings.
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Bush: Democrats risking kids' health
Sep 20 2007 12:01PM (CT)
WASHINGTON (AP) - President Bush challenged Democrats on Thursday to quickly renew a popular children's health insurance program and accused them of "putting poor children at risk so they can score political points in Washington."
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Bush: Democrats risking kids' health
Sep 20 2007 12:01PM (CT)
WASHINGTON (AP) - President Bush challenged Democrats on Thursday to quickly renew a popular children's health insurance program and accused them of "putting poor children at risk so they can score political points in Washington."
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Nasdaq strikes deal with Borse Dubai
Sep 20 2007 11:27AM (CT)
STOCKHOLM, Sweden (AP) - The Nasdaq Stock Market is selling a nearly 20 percent stake to Borse Dubai and is taking control of the Nordic exchange operator OMX as part of a sweeping settlement of their battle for control of OMX.
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Bernanke assures Hill on mortgage hit
Sep 20 2007 11:20AM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess.
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Bernanke assures Hill on mortgage hit
Sep 20 2007 10:49AM (CT)
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress Thursday the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout related to the mortgage mess.
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Qatar agency takes stake in LSE
Sep 20 2007 10:23AM (CT)
LONDON (AP) - The Qatar Investment Authority said Thursday it had acquired a 20 percent stake in the London Stock Exchange, the same day that Borse Dubai announced a deal to acquire the Nasdaq Stock Market's 28 percent stake in the LSE.
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Qatar agency takes stake in LSE
Sep 20 2007 10:23AM (CT)
LONDON (AP) - The Qatar Investment Authority said Thursday it had acquired a 20 percent stake in the London Stock Exchange, the same day that Borse Dubai announced a deal to acquire the Nasdaq Stock Market's 28 percent stake in the LSE.
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ConAgra 1Q profit rises
Sep 20 2007 9:02AM (CT)
OMAHA, Neb. (AP) - ConAgra Foods Inc., a packaged food maker whose brands include Banquet, Chef Boyardee and Healthy Choice, said Thursday its first-quarter profit rose 5 percent as sales grew at twice that pace.
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Legislators grill Bank of England chief
Sep 20 2007 8:36AM (CT)
LONDON (AP) - Angry lawmakers grilled the Bank of England's governor Thursday about why he failed to prevent a run on deposits at mortgage lender Northern Rock PLC, but the governor countered by blaming the banking industry for creating a credit crisis.
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Goldman Sachs profit beats expectations
Sep 20 2007 7:27AM (CT)
NEW YORK (AP) - Goldman Sachs Group Inc. on Thursday reported third-quarter results well ahead of Wall Street projections, as the world's largest investment bank realized gains from takeover advice and the sale of its holdings in an energy company.
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Students to protest Halliburton visit
Sep 20 2007 4:14AM (CT)
MADISON, Wis. (AP) - A 1967 visit to the University of Wisconsin-Madison by a recruiter from Dow Chemical Co., which made napalm, sparked a bloody clash between police and protesting students and galvanized anti-war sentiment on campus.
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Neb. rule could slow cattle inspections
Sep 20 2007 3:08AM (CT)
LINCOLN, Neb. (AP) - For cattle inspector Shawn Hanks, busier work weeks and late-night calls from ranchers are about to become routine.
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Chinese government freezes some prices
Sep 20 2007 3:02AM (CT)
BEIJING (AP) - China's government has ordered some prices frozen and told officials to closely monitor others in its most drastic step yet to contain a surge in inflation.
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