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Wal-Mart outlook may prompt price wars
Nov 2 2006 8:35PM (CT)
NEW YORK (AP) - A disappointing sales performance and outlook from Wal-Mart Stores Inc. Thursday raised the possibility of price wars this holiday season _ a boon to consumers but a troubling prospect for the entire retail industry.
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AT&T-BellSouth vote delayed by FCC
Nov 2 2006 8:34PM (CT)
WASHINGTON (AP) - The Federal Communications Commission delayed for a third time its vote on whether to let AT&T Inc. acquire BellSouth Corp., because it can't decide what conditions should be placed on the deal.
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PC Maker Gateway cuts nearly 100 jobs
Nov 2 2006 8:28PM (CT)
LOS ANGELES (AP) - Struggling computer maker Gateway Inc. said Thursday it has eliminated nearly 100 jobs as part of a cost-cutting effort designed to save it between $30 million and $35 million a year.
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Bond prices slip on signs of inflation
Nov 2 2006 6:17PM (CT)
NEW YORK (AP) - U.S. Treasury bond prices fell Thursday as unit labor costs _ a key measure of inflationary pressure _ came in higher than expected, and the market turned its attention to Friday's payrolls report.
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Assets in money funds up in latest week
Nov 2 2006 5:58PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds rose $4.31 billion in the latest week to $937.63 billion, the Investment Company Institute said Thursday.
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Corn prices surge to 10-year highs
Nov 2 2006 5:40PM (CT)
NEW YORK (AP) - Corn prices on the Chicago Board of Trade rose sharply to 10-year highs Thursday, on concerns about the size of the U.S. corn crop and ongoing demand for ethanol.
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Blockbuster posts smaller 3Q loss
Nov 2 2006 5:02PM (CT)
DALLAS (AP) - Movie-rental chain Blockbuster Inc. said Thursday it narrowed its third-quarter loss and increased its same-store rental revenue in the United States despite a weak lineup of new DVD releases. Its shares soared nearly 10 percent.
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Oil prices settle below $58 a barrel
Nov 2 2006 4:51PM (CT)
VIENNA, Austria (AP) - Oil prices extended their recent decline Thursday as the market focused on a climb in U.S. crude oil inventories and waited for evidence of OPEC's recently announced output cut.
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Kumar sentenced, fined in fraud scandal
Nov 2 2006 4:50PM (CT)
NEW YORK (AP) - The former chief executive of Computer Associates International Inc. was sentenced to 12 years in prison and fined $8 million on Thursday in an accounting fraud scandal estimated to have cost investors $400 million at one of the world's largest software companies.
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Sorin admits guilt in stock options scam
Nov 2 2006 4:50PM (CT)
NEW YORK (AP) - The former general counsel of leading voicemail software maker Comverse Technology Inc. pleaded guilty Thursday to a scheme to pocket millions of dollars by backdating stock options.
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Ford cuts health benefits, merit pay
Nov 2 2006 4:50PM (CT)
DEARBORN, Mich. (AP) - Salaried workers at Ford Motor Co. won't get pay raises next year and they'll pay more for health insurance under benefit changes announced by the struggling automaker.
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CBS op earnings rise, announces buyback
Nov 2 2006 4:48PM (CT)
NEW YORK (AP) - CBS Corp. reported lower net earnings Thursday from a year ago, when it was still combined with Viacom Inc., but operating earnings rose. The company also announced a share buyback of up to $1.5 billion.
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Northwest Airlines launches fare sale
Nov 2 2006 12:05PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. launched a holiday fare sale on Thursday, including a handful of "Super Bargain Days" aimed at filling its planes during November and December.
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MGM Mirage 3Q profit rises
Nov 2 2006 11:00AM (CT)
LAS VEGAS (AP) - MGM Mirage Inc., the world's second-largest casino company, said Thursday its third-quarter profit climbed 68 percent, powered by increased revenue from slot machines and better operating margins.
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CVS, Caremark shares rebound slightly
Nov 2 2006 9:52AM (CT)
NASHVILLE, Tenn. (AP) - Investors and analysts were not pleased when drugstore operator CVS announced that it's buying pharmacy benefits manager Caremark, even if it could mean lower prices for customers with bargaining power to rival Wal-Mart Stores Inc.
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European Central Bank holds rate steady
Nov 2 2006 9:08AM (CT)
FRANKFURT, Germany (AP) - The European Central Bank held its key interest rate steady at 3.25 percent as expected on Thursday but set the stage for an increase _ likely a quarter of a percentage point _ next month.
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German jobless rate drops
Nov 2 2006 8:08AM (CT)
BERLIN (AP) - Germany's unemployment rate slipped to 9.8 percent in October, government figures showed Thursday, dropping below 10 percent for the first time in four years and underlining the recovery of Europe's biggest economy.
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Young tycoons top Forbes' China list
Nov 2 2006 7:45AM (CT)
BEIJING (AP) - A 37-year-old appliance merchant topped a list of China's richest businesspeople released Thursday by the business magazine Forbes, leading a group of young entrepreneurs who have profited from the country's economic boom.
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Russia to double gas prices for Georgia
Nov 2 2006 7:41AM (CT)
MOSCOW (AP) - Russia's state-controlled natural gas monopoly said Thursday that it would more than double the price it charges Georgia, further heightening tensions between the ex-Soviet neighbors.
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Nomura to buy Instinet brokerage
Nov 2 2006 7:36AM (CT)
TOKYO (AP) - Nomura Holdings Inc. will acquire major electronic stock broker Instinet from private-equity firm Silver Lake Partners, the companies said Thursday.
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Strapped Mo. farmers turn to wind farms
Nov 2 2006 6:27AM (CT)
KING CITY, Mo. (AP) - The decline of the family farm is part of Northwest Missouri's economic problems, which range from the shuttering of a nearby manufacturing plant to a steadily dwindling population. But some farmers in the region who once relied on hogs or soybeans to make ends meet will soon be harvesting wind energy.
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GM, Toyota, Ford post Oct. sales gains
Nov 2 2006 5:55AM (CT)
DETROIT (AP) - Two of the domestic Big Three reported strong sales gains last month as lower gas prices helped revive truck and sport utility vehicle sales.
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BMW 3Q profit misses market expectations
Nov 2 2006 5:01AM (CT)
FRANKFURT, Germany (AP) - Luxury automaker BMW AG said Thursday that its third-quarter profit slipped 0.7 percent, missing market expectations, because it had to pay higher taxes and retooled its lineup of car models.
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Japanese stocks decline; Dollar advances
Nov 2 2006 4:39AM (CT)
TOKYO (AP) - Stocks declined Thursday after a mixed session amid concerns about corporate earnings and the strength of Japan's economic recovery. The dollar advanced against the yen.
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Wal-Mart's attendance policy criticized
Nov 2 2006 12:59AM (CT)
NEW YORK (AP) - At Wal-Mart these days, snowy weather is no longer an excuse for lateness. It had better be a natural disaster like a hurricane or blizzard. And being 10 minutes or more tardy for work three times will earn you a demerit. Too many of those could get you fired.
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Bally's rebounds after recent collapse
Nov 2 2006 12:10AM (CT)
NEW YORK (AP) - Bally Total Fitness Holding Corp.'s stock has bounced back a bit from a recent collapse, but restoring itself to full health depends on rejiggering its hefty debt while finding more cash.
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