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Oil prices dip in Asian trading
Oct 17 2007 11:17PM (CT)
BANGKOK, Thailand (AP) - Oil prices dipped in Asian trading Thursday but held above $87 a barrel after a U.S. inventory report showing larger than expected fuel stocks pulled crude futures back from a new trading record.
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SEC probes Countrywide CEO's stock sales
Oct 17 2007 8:36PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission is examining stock sales of the chief executive of Countrywide Financial Corp., the nation's largest mortgage lender, a person familiar with the matter said Wednesday.
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WaMu's 3Q profit shrinks 72 percent
Oct 17 2007 8:13PM (CT)
OLYMPIA, Wash. (AP) - Washington Mutual Inc.'s third-quarter profit shrank 72 percent as sagging home prices made it harder for borrowers to pay their bills and hurt the value of the bank's portfolio of mortgage loans.
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Boston Scientific to cut 2,300 jobs
Oct 17 2007 6:36PM (CT)
BOSTON (AP) - Boston Scientific Corp. said Wednesday it will cut about 2,300 jobs, or 8 percent of the medical device maker's work force, and restructure operations to reduce annual operating expenses by around $500 million.
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New home construction plunges
Oct 17 2007 6:36PM (CT)
WASHINGTON (AP) - Construction of new homes plunged to the lowest level in 14 years in September as turmoil in credit markets intensified the problems in the housing industry. Consumer prices, meanwhile, rose at the fastest pace in four months, reflecting higher energy and food costs.
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JPMorgan Chase 3Q earnings rise 2 pct.
Oct 17 2007 6:27PM (CT)
NEW YORK (AP) - Despite losses from souring home loans and tough-to-sell corporate debt, JPMorgan Chase & Co. managed to beat Wall Street's expectations and eke out a 2 percent profit rise in the third quarter.
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Big shareholder opposes Cablevision deal
Oct 17 2007 4:16PM (CT)
NEW YORK (AP) - A bid by the controlling shareholders of Cablevision Systems Corp. to take the cable TV company private next week ran into deeper trouble on Wednesday when the company's largest outside investor said it would vote against the $10.6 billion deal, saying it shortchanges shareholders.
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Big shareholder opposes Cablevision deal
Oct 17 2007 4:16PM (CT)
NEW YORK (AP) - A bid by the controlling shareholders of Cablevision Systems Corp. to take the cable TV company private next week ran into deeper trouble on Wednesday when the company's largest outside investor said it would vote against the $10.6 billion deal, saying it shortchanges shareholders.
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Big shareholder opposes Cablevision deal
Oct 17 2007 4:16PM (CT)
NEW YORK (AP) - A bid by the controlling shareholders of Cablevision Systems Corp. to take the cable TV company private next week ran into deeper trouble on Wednesday when the company's largest outside investor said it would vote against the $10.6 billion deal, saying it shortchanges shareholders.
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Big shareholder opposes Cablevision deal
Oct 17 2007 4:16PM (CT)
NEW YORK (AP) - A bid by the controlling shareholders of Cablevision Systems Corp. to take the cable TV company private next week ran into deeper trouble on Wednesday when the company's largest outside investor said it would vote against the $10.6 billion deal, saying it shortchanges shareholders.
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Coca-Cola reports 13 pct profit jump
Oct 17 2007 4:10PM (CT)
ATLANTA (AP) - The Coca-Cola Co., the world's largest beverage maker, reported Wednesday a 13 percent increase in third-quarter profit on a double-digit increase in sales.
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Gannett 3Q profit slides 10.5 percent
Oct 17 2007 3:56PM (CT)
McLEAN, Va. (AP) - Gannett Co., the largest newspaper publisher in the country and owner of USA Today, said Wednesday that third-quarter earnings fell 10.5 percent, fueled in part by slumping real-estate ads and a tough comparison to year-ago results boosted by heavy political advertising.
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Gannett 3Q profit slides 10.5 percent
Oct 17 2007 3:56PM (CT)
McLEAN, Va. (AP) - Gannett Co., the largest newspaper publisher in the country and owner of USA Today, said Wednesday that third-quarter earnings fell 10.5 percent, fueled in part by slumping real-estate ads and a tough comparison to year-ago results boosted by heavy political advertising.
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Metals slump as housing market worsens
Oct 17 2007 3:54PM (CT)
NEW YORK (AP) - Base metals declined Wednesday after the Commerce Department reported homebuilding slumped to its lowest level in 14 years, raising concerns that demand for copper and other raw materials could ebb.
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Dollar resumes fall after economic data
Oct 17 2007 3:52PM (CT)
NEW YORK (AP) - The dollar continued to weaken on Wednesday, as U.S. economic reports showed a plunge in new home construction, higher inflation and cooler third-quarter economic activity.
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Altria 3Q profit falls 8.4 percent
Oct 17 2007 3:40PM (CT)
NEW YORK (AP) - Altria Group Inc. said Wednesday its profit fell 8.4 percent in the third quarter but that operating income rose 18.9 percent and reaffirmed its plans to split its international and domestic cigarette businesses.
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Altria 3Q profit falls 8.4 percent
Oct 17 2007 3:40PM (CT)
NEW YORK (AP) - Altria Group Inc. said Wednesday its profit fell 8.4 percent in the third quarter but that operating income rose 18.9 percent and reaffirmed its plans to split its international and domestic cigarette businesses.
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Social Security going up by 2.3 percent
Oct 17 2007 2:25PM (CT)
WASHINGTON (AP) - Social Security benefits for nearly 50 million people will rise 2.3 percent starting in January, the smallest increase in four years. The typical retiree will face the challenge of using the extra $24 to cover higher costs for everything from gasoline and food to medical care.
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S&P downgrades $23 billion in securities
Oct 17 2007 2:09PM (CT)
NEW YORK (AP) - Standard & Poor's said Wednesday it cut the ratings on 1,713 classes of securities, worth some $23.35 billion, backed by mortgages issued in the first six months of this year.
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ResCap to cut 3,000 jobs
Oct 17 2007 12:24PM (CT)
MINNEAPOLIS (AP) - GMAC Financial Services said on Wednesday it would cut about 3,000 jobs, or 25 percent of the work force at its Residential Capital LLC mortgage operation.
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Treasury prices rise on housing news
Oct 17 2007 12:18PM (CT)
NEW YORK (AP) - Treasury prices rallied Wednesday after a government report showing a plunge in housing starts added to a growing list of negative real estate news stories this week.
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AMR Corp. 3Q profit increases
Oct 17 2007 12:11PM (CT)
DALLAS (AP) - The parent company of American Airlines, the nation's largest carrier, said Wednesday that its third-quarter profit surged from a year ago as planes were more full and passengers paid higher average fares.
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United Technologies profit up 20 pct
Oct 17 2007 11:02AM (CT)
HARTFORD, Conn. (AP) - United Technologies Corp., which manufacturers heating and ventilating equipment as well as jet engines, on Wednesday reported a 20 percent increase in profit for the third quarter, crediting strength in all its businesses except Carrier, which is pressed by the deteriorating housing market.
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Abbott Laboratories 3Q profit flat
Oct 17 2007 8:54AM (CT)
CHICAGO (AP) - Health care products company Abbott Laboratories reported virtually flat third-quarter profit Wednesday as costs from the buyout of Guidant Corp.'s vascular stent business offset a 14 percent rise in revenue.
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IMF sees strong global economic growth
Oct 17 2007 8:00AM (CT)
WASHINGTON (AP) - The global economy should grow soundly this year and next, although the persistence of a credit crunch that has unnerved financial markets worldwide could throw a wrench in the works.
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BlackRock's 3rd-quarter profit surges
Oct 17 2007 7:00AM (CT)
NEW YORK (AP) - BlackRock Inc.'s profit surged in the third quarter, as people poured money into "safe havens" during the debt market turmoil this summer, the investment manager said Wednesday.
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Mortgage originations expected to plunge
Oct 17 2007 2:13AM (CT)
BOSTON (AP) - The nation's more than $2 trillion home mortgage business won't halt its current slide anytime soon, with mortgage originations expected to fall 18 percent next year and decline another 6 percent in 2009, the Mortgage Bankers Association predicts.
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Singapore lays out welcome for A380 jet
Oct 17 2007 12:25AM (CT)
SINGAPORE (AP) - Singapore laid out a grand welcome for its brand new Airbus A380, the world's largest plane that arrives Wednesday from the assembly line in France for a history-making journey next week.
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Singapore lays out welcome for A380 jet
Oct 17 2007 12:25AM (CT)
SINGAPORE (AP) - Singapore laid out a grand welcome for its brand new Airbus A380, the world's largest plane that arrives Wednesday from the assembly line in France for a history-making journey next week.
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Singapore lays out welcome for A380 jet
Oct 17 2007 12:25AM (CT)
SINGAPORE (AP) - Singapore laid out a grand welcome for its brand new Airbus A380, the world's largest plane that arrives Wednesday from the assembly line in France for a history-making journey next week.
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