Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
CEO: Oracle to slow shopping spree for now
Sep 21 2005 9:19PM (CT)
SAN FRANCISCO (AP) - Oracle Corp. CEO Larry Ellison said Wednesday the business software maker probably won't make another major acquisition for at least another year to give the company ample time to assemble all the pieces snapped up during a recent $18 billion shopping spree.
|
|
|
Japan, China to hold talks on gas drilling
Sep 21 2005 9:04PM (CT)
TOKYO (AP) - Japan and China will meet to settle a feud over claims to undersea oil and gas deposits in disputed waters, a Japanese government official said late Wednesday, following Japan's protests over new drilling activity by China in the area.
|
|
|
Judge OKs $6.1B in WorldCom settlements
Sep 21 2005 8:31PM (CT)
NEW YORK (AP) - A federal judge Wednesday approved legal settlements that will return more than $6.13 billion to investors who suffered losses in the massive WorldCom Inc. accounting fraud.
|
|
|
Qwest accuses SBC of impeding competition
Sep 21 2005 7:29PM (CT)
DENVER (AP) - Qwest Communications International Inc. officials on Wednesday accused SBC Communications Inc. of impeding competition by creating a company "blacklist" and establishing restrictive network pricing plans.
|
|
|
United CEO says carriers need deregulation
Sep 21 2005 6:35PM (CT)
LOS ANGELES (AP) - United Airlines CEO Glenn Tilton said Wednesday unfair government regulations have hampered U.S. air carriers' ability to remain competitive and weather the impact of the Sept. 11, 2001, terror attacks, rising fuel costs and other hardships.
|
|
|
Ex-investment manager gets prison sentence
Sep 21 2005 5:52PM (CT)
EAST ST. LOUIS, Ill. (AP) - A former investment manager was sentenced Wednesday to 40 years in federal prison for stealing tens of millions of dollars from orphans and accident victims to spend on business ventures and luxury items, including a 67-foot yacht.
|
|
|
Former Merck scientist had Vioxx concerns
Sep 21 2005 5:50PM (CT)
ATLANTIC CITY, N.J. (AP) - A former chief scientist of Merck & Co. had concerns about the cardiovascular safety of painkiller Vioxx years before the company pulled it off the market, according to a videotaped deposition played in court Wednesday in a Vioxx product liability trial.
|
|
|
Aquila sells four subsidiaries for $896.7M
Sep 21 2005 5:31PM (CT)
KANSAS CITY, Mo. (AP) - Electric and natural gas utility Aquila Inc. said Wednesday it had sold four of its subsidiaries for $896.7 million, a substantial step in its efforts to rebuild the company and pay off debt.
|
|
|
Oil prices surge as Hurricane Rita nears
Sep 21 2005 5:22PM (CT)
NEW YORK (AP) - Crude-oil prices rose Wednesday as traders braced for the possibility that Hurricane Rita could smash into key oil facilities in Texas.
|
|
|
Treasurys rise along with oil prices
Sep 21 2005 5:12PM (CT)
NEW YORK (AP) - Longer-dated maturities led Treasury prices higher Wednesday, with investors fixated on surging energy prices as Hurricane Rita intensified into a Category 5 storm and churned its way toward Texas.
|
|
|
S&P weighs rating cut on N.Y. Times debt
Sep 21 2005 5:02PM (CT)
NEW YORK (AP) - Standard & Poor's credit rating company said Wednesday it was reviewing its rating on debt held by The New York Times Co. a day after the newspaper publisher lowered its earnings forecasts.
|
|
|
McDonald's plans partial IPO for Chipotle
Sep 21 2005 4:51PM (CT)
OAK BROOK, Ill. (AP) - McDonald's Corp., the world's largest fast-food company, said Wednesday it intends to spin off a minority stake in its Chipotle Mexican Grill brand in order to fuel its growth and create value for its shareholders.
|
|
|
Kerkorian's Tracinda may boost GM stake
Sep 21 2005 4:48PM (CT)
NEW YORK (AP) - Tracinda Corp., the private-equity firm owned by billionaire investor Kirk Kerkorian, said Wednesday it plans to boost its stake in General Motors Corp. to as much as 9.9 percent and may approach the world's biggest automaker about getting representation on its board.
|
|
|
Finance leaders to discuss Katrina impact
Sep 21 2005 4:35PM (CT)
WASHINGTON (AP) - The economic toll of Hurricane Katrina _ including higher oil prices _ will be a prominent topic when finance officials from the world's rich countries meet this week.
|
|
|
Wednesday's Commodities Roundup
Sep 21 2005 4:30PM (CT)
NEW YORK (AP) - Crude-oil futures posted moderate gains after briefly topping $68 Wednesday, as traders grew somewhat less concerned about Hurricane Rita's potential impact on U.S. energy infrastructure.
|
|
|
Diebold shares dip on lowered forecast
Sep 21 2005 4:04PM (CT)
NORTH CANTON, Ohio (AP) - Shares of Diebold Inc. plunged to a new year low Wednesday after the company said its president quit and it slashed its earnings forecast for the third quarter, blaming Hurricane Katrina and rising fuel costs along with a lower outlook for its automated teller machine business.
|
|
|
Time Warner to consider bigger buybacks
Sep 21 2005 4:01PM (CT)
NEW YORK (AP) - Dick Parsons, the CEO of Time Warner Inc., said Wednesday that the media conglomerate would consider making larger stock buybacks and distributing even more of its cable TV unit to shareholders.
|
|
|
UAL posts $30 million net loss for August
Sep 21 2005 3:59PM (CT)
ELK GROVE VILLAGE, Ill. (AP) - UAL Corp., United Airlines' parent company, reported a $30 million net loss for August on Wednesday as a result of continuing high costs for its 33-month-old bankruptcy reorganization and the spike in fuel prices.
|
|
|
Volume pushes up FedEx's 1Q profits
Sep 21 2005 3:58PM (CT)
NASHVILLE, Tenn. (AP) - FedEx Corp. reported Wednesday that first quarter-profits rose modestly after an accounting change, but an increase in daily package volume helped the shipping company exceed analyst expectations. The stock price rose sharply after the report's release.
|
|
|
Delta pilot lump sum payouts may be at risk
Sep 21 2005 3:54PM (CT)
ATLANTA (AP) - A continuing exodus of Delta Air Lines Inc. pilots has drained the pension plan to the point where future lump sum payouts to retirees by the bankrupt carrier may be in jeopardy, according to the union.
|
|
|
Kia tops auto survey category for 1st time
Sep 21 2005 3:50PM (CT)
DETROIT (AP) - The Kia Amanti was the highest ranked mid-size car in a customer satisfaction survey released Wednesday by J.D. Power and Associates, marking the first time an entry from Korean automaker Kia Motor Co. made it to the top of the list.
|
|
|
Morgan Stanley profit plummets on charge
Sep 21 2005 3:47PM (CT)
NEW YORK (AP) - Morgan Stanley said Wednesday its profit fell 83 percent in the third quarter as the Wall Street firm took a $1 billion charge to write off the value of its aircraft financing business. Its results without the charge surpassed Wall Street's expectations.
|
|
|
Ford plans some hybrid engines by 2010
Sep 21 2005 3:42PM (CT)
DEARBORN, Mich. (AP) - Gas-electric hybrid engines will be available in half the Ford, Lincoln and Mercury lineup by 2010, Ford Motor Co. Chairman and CEO Bill Ford said Wednesday.
|
|
|
ConAgra Foods 1Q profit more than doubles
Sep 21 2005 3:41PM (CT)
OMAHA, Neb. (AP) - Packaged-food company ConAgra Foods Inc. said Wednesday that first-quarter earnings more than doubled, reflecting a large gain from selling its remaining shares in Pilgrim's Pride Corp. as well as solid performance in several areas of the business. Its shares rose more than 4 percent Wednesday.
|
|
|
FTC says gas prices probe has started
Sep 21 2005 3:39PM (CT)
WASHINGTON (AP) - The Federal Trade Commission has started investigating whether there was any illegal behavior that may have led to gasoline price gouging after Hurricane Katrina, and FTC official told a U.S. Senate panel Wednesday.
|
|
|
Oil prices surge as Hurricane Rita nears
Sep 21 2005 3:37PM (CT)
NEW YORK (AP) - Crude-oil prices rose Wednesday as traders braced for the possibility that Hurricane Rita could smash into key oil facilities in Texas.
|
|
|
Northwest laying off 1,400 attendants
Sep 21 2005 3:36PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. said Wednesday it will lay off 1,400 flight attendants by January as it shrinks in bankruptcy, just months after it re-hired some of them.
|
|
|
Delphi shares, bonds rise on CEO comments
Sep 21 2005 3:34PM (CT)
DETROIT (AP) - Shares and bonds in Delphi Corp. climbed Wednesday, following comments by the auto-parts supplier's chief executive suggesting he would prefer to avoid bankruptcy.
|
|
|
Cott slides as co. withdraws 2005 outlook
Sep 21 2005 3:28PM (CT)
TORONTO (AP) - Shares of Cott Corp., the largest maker of store-brand soft drinks, fell sharply Wednesday after it scrapped its 2005 outlook and signaled its problems are far from over.
|
|
|
Regulator recommends utility refund $128M
Sep 21 2005 3:04PM (CT)
CHICAGO (AP) - A natural gas utility should refund $128 million to its customers amid allegations the company made secret deals with Enron Corp., a regulator ruled.
|
|
|
Fall shopping still sluggish at retailers
Sep 21 2005 2:47PM (CT)
NEW YORK (AP) - Since mid-July, new fall fashions like shrunken brown velvet jackets and Victorian style blouses have been gathering dust on racks at the nation's retailers.
|
|
|
Verizon to announce launch of TV service
Sep 21 2005 2:38PM (CT)
NEW YORK (AP) - Verizon Communications Inc. is set to announce that its new television service will be launched in Texas as soon as next week, opening a fresh era of direct competition between the cable TV and telephone industries,
|
|
|
Smaller companies get additional SEC delay
Sep 21 2005 2:20PM (CT)
WASHINGTON (AP) - Smaller U.S. public companies got an additional one-year reprieve Wednesday from a key part of the anti-fraud law enacted after the series of corporate scandals in 2001-2002.
|
|
|
Verizon, Disney in programming deal
Sep 21 2005 1:58PM (CT)
NEW YORK (AP) - Verizon Communications Inc. has signed a deal with Walt Disney Co. to carry ABC, Disney and ESPN TV channels on its new television system, the companies said Wednesday.
|
|
|
Homebuilding slowing despite Katrina boost
Sep 21 2005 11:57AM (CT)
NEW YORK (AP) - The boost from rebuilding efforts after Hurricane Katrina won't be enough to stop homebuilding activity from slowing soon, experts say.
|
|
|
Swift to hire 141 women in settlement
Sep 21 2005 11:44AM (CT)
GREELEY, Colo. (AP) - Swift & Co. agreed to hire 141 women and pay $700,000 to nearly 2,500 of them to settle a complaint that it discriminated against women who applied for unskilled labor jobs at its meatpacking plant.
|
|
|
IMF worries about effect of energy prices
Sep 21 2005 11:11AM (CT)
WASHINGTON (AP) - Hurricane Katrina's reach is global, as higher energy prices cast a cloud of uncertainty over a world economy that otherwise is on track to log solid growth this year.
|
|
|
EU cautions Britain on budget deficit
Sep 21 2005 10:38AM (CT)
BRUSSELS, Belgium (AP) - The European Union executive Commission cautioned Britain on Wednesday that its budget deficit, which exceeds an EU target, cannot be explained by the nation's economic situation and may warrant a recommendation the government rein in spending.
|
|
|
Volvo convicted of gender discrimination
Sep 21 2005 10:34AM (CT)
STOCKHOLM, Sweden (AP) - A Swedish court on Wednesday convicted Volvo Cars of gender discrimination for denying a woman a job at its manufacturing plant because she was too short to work at the conveyor belt.
|
|
|
EU court backs decision to block merger
Sep 21 2005 9:41AM (CT)
BRUSSELS, Belgium (AP) - The European Union's second-highest court on Wednesday backed the European Commission's decision to block a major merger between Portugal's two state-controlled energy utilities, Energias de Portugal SA and Gas de Portugal SA.
|
|
|
EU proposes air pollution clean up plans
Sep 21 2005 9:18AM (CT)
BRUSSELS, Belgium (AP) - The European Union head office proposed scaled-back plans Wednesday to reduce air pollution, which it claims kills 370,000 EU citizens every year.
|
|
|
Sony announcing turnaround strategy
Sep 21 2005 9:14AM (CT)
TOKYO (AP) - Sony Corp. has been working hard lately to turn around its money-losing electronics business, pushing a revamped line of flat-panel televisions and delivering one sleek MP3 digital music player after another.
|
|
|
French consumer spending surges in July
Sep 21 2005 9:10AM (CT)
PARIS (AP) - French consumers flocked back to stores over the summer, lifting spending well above gloomy forecasts and providing a welcome boost to the economy, the national statistics agency said Wednesday.
|
|
|
Sporting News, Holiday Inn plan eateries
Sep 21 2005 8:10AM (CT)
ST. LOUIS (AP) - Sporting News magazine and Holiday Inn Hotels and Resorts plan to develop sports-themed restaurants at all 91 Holiday Inn Select hotels around the country starting early next year, the companies said.
|
|
|
Nymex intends to sell stake for $135M
Sep 21 2005 7:56AM (CT)
NEW YORK (AP) - The New York Mercantile Exchange signed a nonbinding letter of intent to sell a 10 percent equity stake to private-equity firm General Atlantic LLC for $135 million, the two firms confirmed late Tuesday.
|
|
|
Gazprom seeks deal to supply gas to China
Sep 21 2005 7:33AM (CT)
BEIJING (AP) - Russia's Gazprom, the world's top natural-gas producer and exporter, wants to have a deal to supply China with gas within a year, a senior company executive said Wednesday.
|
|
|
Interest rates likely to keep rising
Sep 21 2005 5:50AM (CT)
WASHINGTON (AP) - The decision of the Federal Reserve to keep raising interest rates in the face of a devastating hurricane means one thing to many economists: Rates will keep going up and are likely to head higher than previously expected.
|
|
|
Group: Holiday sales expected to increase
Sep 21 2005 5:48AM (CT)
NEW YORK (AP) - Holiday sales are projected to increase 5 percent, less than the 6.7 percent gain in 2004, as higher energy prices, the economic fallout from Hurricane Katrina, shaky consumer confidence and a volatile job market dampen spending, the National Retail Federation said Wednesday.
|
|
|
Indonesia prepares for fuel hike protests
Sep 21 2005 5:24AM (CT)
JAKARTA, Indonesia (AP) - Indonesia is preparing for protests over government plans to cut subsidies that keep the price of gasoline products affordable for the country's millions of poor people, the security minister said Wednesday.
|
|
|
Gap between China's rich, poor alarming
Sep 21 2005 1:07AM (CT)
SHANGHAI, China (AP) - The gap between China's richest and poorest citizens is approaching a dangerous level and could lead to social unrest, state media reported Wednesday, citing a government study.
|
|
|
|
|
|