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Latest Business News Archives for October 18, 2007

UAW locals split on Chrysler deal
Oct 18 2007 11:46PM (CT)
FENTON, Mo. (AP) - Workers at Chrysler LLC's pickup truck plant in suburban St. Louis rejected a tentative four-year labor contract between the United Auto Workers and the automaker.
 
Crude oil futures surpass $90 a barrel
Oct 18 2007 11:44PM (CT)
SINGAPORE (AP) - Oil prices surpassed $90 a barrel for the first time in after-hours trading in New York before slipping back Friday in Asia.
 
Crude oil futures surpass $90 a barrel
Oct 18 2007 11:44PM (CT)
SINGAPORE (AP) - Oil prices surpassed $90 a barrel for the first time in after-hours trading in New York before slipping back Friday in Asia.
 
Crude oil futures surpass $90 a barrel
Oct 18 2007 11:44PM (CT)
SINGAPORE (AP) - Oil prices surpassed $90 a barrel for the first time in after-hours trading in New York before slipping back Friday in Asia.
 
Crude oil futures surpass $90 a barrel
Oct 18 2007 11:44PM (CT)
SINGAPORE (AP) - Oil prices surpassed $90 a barrel for the first time in after-hours trading in New York before slipping back Friday in Asia.
 
UnitedHealth 3Q earnings up 15 percent
Oct 18 2007 6:12PM (CT)
MINNEAPOLIS (AP) - Insurer UnitedHealth reported a 15 percent rise in profits on Thursday and it expanded its share buybacks, but it said it gave up some health insurance customers to stay profitable rather than go too low on prices.
 
Capital One posts 3Q net loss on charges
Oct 18 2007 6:09PM (CT)
CHARLOTTE, N.C. (AP) - Capital One Financial Corp. posted a third-quarter net loss Thursday, hurt by charges from shutting down its GreenPoint Mortgage business.
 
Man pleads guilty in kickback case
Oct 18 2007 6:06PM (CT)
LOS ANGELES (AP) - A man prosecutors say was paid about $2.6 million to be a professional plaintiff _ and helped a prestigious New York law firm get lucrative class-action lawsuits _ pleaded guilty Thursday to obstruction of justice and two other charges.
 
Profits up at Southwest, Continental
Oct 18 2007 6:03PM (CT)
DALLAS (AP) - The summer vacation season was very good to Southwest Airlines Co. and Continental Airlines Inc., which reported record passenger loads and higher profits despite rising fuel prices.
 
Profits up at Southwest, Continental
Oct 18 2007 6:03PM (CT)
DALLAS (AP) - The summer vacation season was very good to Southwest Airlines Co. and Continental Airlines Inc., which reported record passenger loads and higher profits despite rising fuel prices.
 
Drug makers' earnings mostly 'ho-hum'
Oct 18 2007 6:02PM (CT)
TRENTON, N.J. (AP) - Major pharmaceutical companies turned in mostly bland third-quarter results Thursday, but there was at least one bright spot, with Eli Lilly and Co. beating analysts' expectations, raising its earnings forecast and announcing a promising collaboration.
 
Drug makers' earnings mostly 'ho-hum'
Oct 18 2007 6:02PM (CT)
TRENTON, N.J. (AP) - Major pharmaceutical companies turned in mostly bland third-quarter results Thursday, but there was at least one bright spot, with Eli Lilly and Co. beating analysts' expectations, raising its earnings forecast and announcing a promising collaboration.
 
Drug makers' earnings mostly 'ho-hum'
Oct 18 2007 6:02PM (CT)
TRENTON, N.J. (AP) - Major pharmaceutical companies turned in mostly bland third-quarter results Thursday, but there was at least one bright spot, with Eli Lilly and Co. beating analysts' expectations, raising its earnings forecast and announcing a promising collaboration.
 
Bank of America 3Q profit falls 32 pct.
Oct 18 2007 6:02PM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp.'s plunging profits shocked Wall Street Thursday and prompted a clearly frustrated chief executive Kenneth Lewis to say that changes loom in its investment banking business.
 
Dollar hits low against euro
Oct 18 2007 4:35PM (CT)
NEW YORK (AP) - The dollar fell to a new low against the euro on Thursday after the 13-nation European currency broke through the $1.43 mark on reports from Washington that growing economic weakness was boosting jobless claims.
 
Cylinder deactivation more widespread
Oct 18 2007 4:28PM (CT)
ALEXANDRIA, Va. (AP) - With a daily roundtrip commute of 120 miles, Marie Czapiewski needed good gas mileage in her new car but didn't want to give up a V6 engine for something less powerful.
 
Google 3Q profit soars 46 percent
Oct 18 2007 4:22PM (CT)
SAN FRANCISCO (AP) - Google Inc.'s third-quarter profit soared 46 percent, hurdling the enormous expectations that have elevated the Internet search leader's stock price by more $100 during the past month.
 
Google 3Q profit soars 46 percent
Oct 18 2007 4:22PM (CT)
SAN FRANCISCO (AP) - Google Inc.'s third-quarter profit soared 46 percent, hurdling the enormous expectations that have elevated the Internet search leader's stock price by more $100 during the past month.
 
Google 3Q profit soars 46 percent
Oct 18 2007 4:22PM (CT)
SAN FRANCISCO (AP) - Google Inc.'s third-quarter profit soared 46 percent, hurdling the enormous expectations that have elevated the Internet search leader's stock price by more $100 during the past month.
 
Google 3Q profit soars 46 percent
Oct 18 2007 4:22PM (CT)
SAN FRANCISCO (AP) - Google Inc.'s third-quarter profit soared 46 percent, hurdling the enormous expectations that have elevated the Internet search leader's stock price by more $100 during the past month.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
Health deal sought after veto upheld
Oct 18 2007 3:40PM (CT)
WASHINGTON (AP) - The Democratic-controlled House failed on Thursday to override President Bush's veto of a politically popular children's health bill, and the White House instantly called for compromise talks on a replacement.
 
FDA weighs safety of cold drugs for kids
Oct 18 2007 2:38PM (CT)
WASHINGTON (AP) - Cold and cough medicines given to infants and toddlers work no better than dummy pills and can be dangerous, pediatricians seeking to curb their use told government health advisers Thursday.
 
Pfizer 3Q profit plunges on Exubera exit
Oct 18 2007 2:36PM (CT)
NEW YORK (AP) - Pfizer Inc. reported a 77 percent drop in third-quarter profit Thursday as the world's largest pharmaceutical company booked a multibillion-dollar charge to exit its 'disappointing' inhaled insulin franchise, Exubera, and posted lower sales of blockbuster cholesterol drug Lipitor.
 
IMF prepares for annual meeting
Oct 18 2007 2:36PM (CT)
WASHINGTON (AP) - Record oil prices are having a limited impact on the global economy but the risk of economic disruption remains high, the head of the International Monetary Fund said Thursday.
 
IMF prepares for annual meeting
Oct 18 2007 2:36PM (CT)
WASHINGTON (AP) - Record oil prices are having a limited impact on the global economy but the risk of economic disruption remains high, the head of the International Monetary Fund said Thursday.
 
IMF prepares for annual meeting
Oct 18 2007 2:36PM (CT)
WASHINGTON (AP) - Record oil prices are having a limited impact on the global economy but the risk of economic disruption remains high, the head of the International Monetary Fund said Thursday.
 
Oil, gold prices rise as dollar hits low
Oct 18 2007 2:35PM (CT)
NEW YORK (AP) - Commodities rallied Thursday as investors sought protection from the tumbling dollar, which slid to new lows after a surge in unemployment claims raised concerns about the health of the U.S. job market.
 
Oil, gold prices rise as dollar hits low
Oct 18 2007 2:35PM (CT)
NEW YORK (AP) - Commodities rallied Thursday as investors sought protection from the tumbling dollar, which slid to new lows after a surge in unemployment claims raised concerns about the health of the U.S. job market.
 
Hershey 3Q profit tumbles
Oct 18 2007 12:38PM (CT)
HARRISBURG, Pa. (AP) - The Hershey Co., the nation's largest candymaker, said Thursday its third-quarter profit tumbled 66 percent as it spent heavily to streamline its operations and struggled with aggressive competition and slackening sales.
 
Hershey 3Q profit tumbles
Oct 18 2007 12:38PM (CT)
HARRISBURG, Pa. (AP) - The Hershey Co., the nation's largest candymaker, said Thursday its third-quarter profit tumbled 66 percent as it spent heavily to streamline its operations and struggled with aggressive competition and slackening sales.
 
Bank of America 3Q profit falls 32 pct
Oct 18 2007 11:35AM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp., the nation's second-largest bank, said Thursday its profit fell 32 percent in the third quarter as trading losses and write-downs on a wide variety of loans offset solid revenue growth in most businesses.
 
Continental 3Q profit up 2 percent
Oct 18 2007 11:27AM (CT)
DALLAS (AP) - Continental Airlines Inc. said Thursday its profits rose 1.7 percent in the third quarter as it recorded a double-digit increase in revenue from international travel.
 
Continental 3Q profit up 2 percent
Oct 18 2007 11:27AM (CT)
DALLAS (AP) - Continental Airlines Inc. said Thursday its profits rose 1.7 percent in the third quarter as it recorded a double-digit increase in revenue from international travel.
 
Continental 3Q profit up 2 percent
Oct 18 2007 11:27AM (CT)
DALLAS (AP) - Continental Airlines Inc. said Thursday its profits rose 1.7 percent in the third quarter as it recorded a double-digit increase in revenue from international travel.
 
Baxter 3Q profit up, boosts year outlook
Oct 18 2007 10:46AM (CT)
CHICAGO (AP) - Baxter International Inc. said third-quarter profits rose 6 percent on strong sales of its hemophilia therapy, beating Wall Street forecasts and prompting the drug maker Thursday to boost full-year financial targets.
 
Rates on 30-year mortgages unchanged
Oct 18 2007 10:36AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages were unchanged this week while rates on other types of mortgages also showed little movement.
 
Rates on 30-year mortgages unchanged
Oct 18 2007 10:36AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages were unchanged this week while rates on other types of mortgages also showed little movement.
 
Economy seen showing slight growth
Oct 18 2007 9:55AM (CT)
NEW YORK (AP) - A gauge of future economic activity edged higher in September, suggesting the economy may trudge forward at a modest pace despite a worsening housing slump.
 
Southwest 3Q profit rises
Oct 18 2007 9:30AM (CT)
DALLAS (AP) - Southwest Airlines Co., the nation's biggest discount carrier, on Thursday said its third-quarter profit rose because the airline packed planes fuller amid strong demand.
 
Treasury prices jump on rate talk
Oct 18 2007 9:22AM (CT)
NEW YORK (AP) - Treasury prices rallied Thursday as an accumulation of weak economic signs this week prompted talk of a recession and an imminent rate cut.
 
Jobless claims rise sharply
Oct 18 2007 9:00AM (CT)
WASHINGTON (AP) - The number of newly laid off workers filing claims for unemployment benefits shot up by the largest amount since early February, a far bigger increase than had been expected.
 
BBC makes radical overhaul
Oct 18 2007 8:54AM (CT)
LONDON (AP) - The British Broadcasting Corp. announced Thursday it will cut 1,800 jobs, broadcast fewer programs and require staff to create content for television, radio and the Internet, creating a showdown with journalists and other employees.
 
BBC makes radical overhaul
Oct 18 2007 8:54AM (CT)
LONDON (AP) - The British Broadcasting Corp. announced Thursday it will cut 1,800 jobs, broadcast fewer programs and require staff to create content for television, radio and the Internet, creating a showdown with journalists and other employees.
 
SEC probe stock sales by Countrywide CEO
Oct 18 2007 3:04AM (CT)
WASHINGTON (AP) - The man who nearly 40 years ago co-founded what is now the nation's largest mortgage lender is being scrutinized by federal securities regulators as they examine his sales of the struggling company's stock.
 
China Communists party as economy booms
Oct 18 2007 12:23AM (CT)
SHANGHAI, China (AP) - President Hu Jintao gave the longest public speech of his political life this week, dwelling at length on the Communist Party's social goals but spending little time on the economy. Hours later, the Shanghai stock market's key index hit a new high.
 
China Communists party as economy booms
Oct 18 2007 12:23AM (CT)
SHANGHAI, China (AP) - President Hu Jintao gave the longest public speech of his political life this week, dwelling at length on the Communist Party's social goals but spending little time on the economy. Hours later, the Shanghai stock market's key index hit a new high.
 
China Communists party as economy booms
Oct 18 2007 12:23AM (CT)
SHANGHAI, China (AP) - President Hu Jintao gave the longest public speech of his political life this week, dwelling at length on the Communist Party's social goals but spending little time on the economy. Hours later, the Shanghai stock market's key index hit a new high.
 
Plans for coal power plants scrapped
Oct 18 2007 12:21AM (CT)
BILLINGS, Mont. (AP) - At least 16 coal-fired power plant proposals nationwide have been scrapped in recent months and more than three dozen have been delayed as utilities face increasing pressure due to concerns over global warming and rising construction costs.
 
Extra money, unlikely problem for Chile
Oct 18 2007 12:17AM (CT)
SANTIAGO, Chile (AP) - Michelle Bachelet has a problem other presidents would love: What to do with billions of dollars overflowing the government's coffers.
 
Extra money, unlikely problem for Chile
Oct 18 2007 12:17AM (CT)
SANTIAGO, Chile (AP) - Michelle Bachelet has a problem other presidents would love: What to do with billions of dollars overflowing the government's coffers.
 
Extra money, unlikely problem for Chile
Oct 18 2007 12:17AM (CT)
SANTIAGO, Chile (AP) - Michelle Bachelet has a problem other presidents would love: What to do with billions of dollars overflowing the government's coffers.
 
   

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