Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
GAO: Pension plan switch hurts employees
Nov 4 2005 7:29PM (CT)
WASHINGTON (AP) - Employees whose companies switch from traditional pension plans to an increasingly adopted alternative generally lose benefits, congressional auditors have found.
|
|
|
Pentagon spending cuts may affect Boeing
Nov 4 2005 7:18PM (CT)
LOS ANGELES (AP) - Struggling to pay for a costly war in Iraq, the Pentagon is considering as much as $15 billion in cuts to aircraft, shipbuilding and other military programs as it begins to craft a budget for next year.
|
|
|
Continental Airlines loses $115M in Oct.
Nov 4 2005 6:43PM (CT)
HOUSTON (AP) - Continental Airlines Inc. said Friday it lost about $115 million in October and expects to post a "significant loss" for the fourth quarter and all of 2005.
|
|
|
Wal-Mart holds seminar to address critics
Nov 4 2005 6:39PM (CT)
WASHINGTON (AP) - Wal-Mart Stores Inc., which has been prickly about criticisms of its low-cost business model, opened itself up to a lively debate among economists Friday about how the world's largest retailer affects the economy.
|
|
|
Berkshire Hathaway 3Q earnings decline
Nov 4 2005 6:28PM (CT)
OMAHA, Neb. (AP) - Warren Buffett's Berkshire Hathaway Inc. said Friday its third-quarter earnings fell by almost half because of insurance losses related to Hurricanes Katrina and Rita.
|
|
|
GM increases vehicle production in Oct.
Nov 4 2005 6:25PM (CT)
DETROIT (AP) - General Motors Corp. increased vehicle production in October even as sales fell, an indication it might be preparing for a strike at auto supplier Delphi Corp.
|
|
|
Treasury note off 3/32; yield up 0.01 pct.
Nov 4 2005 6:08PM (CT)
NEW YORK (AP) - U.S. Treasurys ended Friday with slight losses for most issues, after a government report on hiring during October was inconclusive in its implications for the economy.
|
|
|
Deadline on Guidant-J&J agreement passes
Nov 4 2005 5:50PM (CT)
INDIANAPOLIS (AP) - Legal problems for struggling medical device maker Guidant grew Friday as a deadline to close a $25.4 billion acquisition by Johnson & Johnson passed with no apparent movement by either side.
|
|
|
Friday's commodities roundup
Nov 4 2005 5:47PM (CT)
NEW YORK (AP) - Crude-oil futures in New York tumbled more than a dollar at Friday's settlement, but held above $60 a barrel, as warm weather and adequate supply scattered a large portion of Thursday's gains.
|
|
|
Fleet sales help U.S. automakers in Oct.
Nov 4 2005 5:40PM (CT)
DETROIT (AP) - The October auto sales rate was at its lowest level in seven years, but the results could have been even worse if automakers hadn't gotten a significant boost from sales to corporate and rental-car fleets.
|
|
|
Sanmina-SCI shares up on upbeat forecast
Nov 4 2005 5:35PM (CT)
NEW YORK (AP) - Shares of Sanmina-SCI Corp. rose sharply Friday as the electronics-services company's strong report for its latest quarter suggested that its operations, which have seen a couple of restructurings, may be stabilizing.
|
|
|
Molina shares climb on 3Q profit report
Nov 4 2005 5:35PM (CT)
NEW YORK (AP) - Shares of Molina Healthcare Inc. jumped Friday, after the managed-healthcare provider's third-quarter profit topped Wall Street's expectations and the company raised its full-year earnings forecast.
|
|
|
Ford to help boost ethanol fuel stations
Nov 4 2005 5:31PM (CT)
DETROIT (AP) - Ford Motor Co. said Friday it is teaming up with an energy company to increase the number of ethanol fuel stations next year.
|
|
|
Verdict may lighten Merck's case load
Nov 4 2005 5:30PM (CT)
ATLANTIC CITY, N.J. (AP) - Merck & Co.'s victory in the nation's second Vioxx trial may lighten the company's litigation load as plaintiff lawyers shun weaker cases, but the legal saga over the withdrawn painkiller is far from over.
|
|
|
Trump to sell Lake Mich. riverboat, hotel
Nov 4 2005 5:23PM (CT)
GARY, Ind. (AP) - Donald Trump's casino company said Friday it had agreed to sell its Lake Michigan riverboat and hotel to The Majestic Star Casino LLC in a $253 million deal.
|
|
|
Washington Post 3Q profit down 19 percent
Nov 4 2005 5:21PM (CT)
WASHINGTON (AP) - Newspaper publisher Washington Post Co. said Friday its third-quarter profit fell 19 percent, weighed down by hurricane-related charges and lost revenue at its cable division.
|
|
|
Case: Hurricanes' impact on rates unclear
Nov 4 2005 4:52PM (CT)
CHICAGO (AP) - The chief executive of Aon Corp., the world's second-largest insurance brokerage, said Friday it's still too early to predict how much U.S. insurance rates might rise because of the hurricanes that devastated the Gulf Coast and southern Florida.
|
|
|
Bankruptcy judge approves Delphi expenses
Nov 4 2005 4:48PM (CT)
NEW YORK (AP) - A federal bankruptcy court judge on Friday approved payment of attorneys and other professionals representing auto parts maker Delphi Corp., which is seeking sharp pay cuts from its unionized work force as part of a financial reorganization so it can compete with lower-cost suppliers.
|
|
|
Fortune Brands 3Q profit down 59 percent
Nov 4 2005 4:43PM (CT)
LINCOLNSHIRE, Ill. (AP) - Fortune Brands Inc., the maker of Titleist golf balls, Moen faucets and Jim Beam bourbon, Friday posted a 59 percent plunge in third-quarter net income, hurt by the costs of its acquisition of spirits and wines from Allied Domecq PLC.
|
|
|
Total agrees to pay portion of $1B bill
Nov 4 2005 4:40PM (CT)
CARACAS, Venezuela (AP) - French oil major Total SA said Friday that it has agreed to pay a portion of a $1 billion back-tax bill to Venezuela but said it was paying the claim "with protest."
|
|
|
RWE to sell U.S., U.K. water operations
Nov 4 2005 4:29PM (CT)
FRANKFURT, Germany (AP) - German utility conglomerate RWE AG said Friday it will sell its U.S. and British-based water operations to sharpen its focus on European gas and electricity markets.
|
|
|
Creditors seek court OK to probe Refco
Nov 4 2005 2:02PM (CT)
WASHINGTON (AP) - A group of creditors of commodities broker Refco Inc. is seeking bankruptcy court approval to investigate whether its former executives mismanaged the company.
|
|
|
McCreevy blasts push toward common co. tax
Nov 4 2005 1:57PM (CT)
BRUSSELS, Belgium (AP) - EU Internal Market Commissioner Charlie McCreevy broke ranks Friday with his colleagues in the EU's executive branch by criticizing calls for common corporate tax rules across Europe.
|
|
|
British Airways profit dips on fuel costs
Nov 4 2005 1:48PM (CT)
LONDON (AP) - British Airways PLC posted a 24 percent drop in second-quarter net profit Friday, blaming higher fuel costs and the absence of a large one-time gain that boosted the result a year ago.
|
|
|
BSkyB posts higher profit and revenue
Nov 4 2005 1:46PM (CT)
LONDON (AP) - Satellite TV operator British Sky Broadcasting Group PLC posted higher quarterly net profit and revenue Friday, but said subscriber growth had fallen as more customers canceled their contracts.
|
|
|
Former Wyoming refinery now a golf course
Nov 4 2005 1:09PM (CT)
CASPER, Wyo. (AP) - The rolling fairways, manicured greens, water hazards and wildlife belie the true purpose of the Three Crowns Golf Course.
|
|
|
Furniture cos. cater to 2nd home market
Nov 4 2005 1:05PM (CT)
HIGH POINT, N.C. (AP) - Motivated by fond memories of summers past, Terri and Bud Curtis searched western North Carolina's mountains for the perfect vacation home, choosing a chalet nestled near Lake Hiwassee.
|
|
|
Union appeals Delta pension payment ruling
Nov 4 2005 12:40PM (CT)
ATLANTA (AP) - The union representing Delta Air Lines Inc.'s pilots is appealing a bankruptcy judge's rejection of a motion that would force the carrier to restore certain pension payments.
|
|
|
Toyota on pace for record full-year profit
Nov 4 2005 12:35PM (CT)
TOKYO (AP) - Toyota Motor Corp.'s profit rose 2 percent in the July-September quarter, lifted by growing sales around the world _ in sharp contrast with the dismal results at U.S. counterparts General Motors and Ford.
|
|
|
Vincor rejects $900M Constellation bid
Nov 4 2005 12:34PM (CT)
NEW YORK (AP) - Canada's biggest vintner, Vincor International Inc., says its board of directors unanimously rejected an unsolicited $900 million takeover offer from wine industry leader Constellation Brands Inc., calling the bid too low.
|
|
|
Bankruptcies in England and Wales soar
Nov 4 2005 12:21PM (CT)
LONDON (AP) - The number of people in England and Wales unable to pay their debts has soared to new heights, according to government figures out Friday.
|
|
|
Ford subsidiary may cut 1,200 German jobs
Nov 4 2005 11:57AM (CT)
COLOGNE, Germany (AP) - The German subsidiary of automaker Ford Motor Co. said Friday it is looking to cut 1,200 jobs in Germany by the end of the year.
|
|
|
IMF chief: oil prices endanger economy
Nov 4 2005 11:41AM (CT)
PARIS (AP) - IMF chief Rodrigo Rato warned Friday that high oil prices are endangering the global economy and urged governments to boost employment in response to increasing signs of social tension.
|
|
|
EU trade chief urges China on EU goods
Nov 4 2005 10:52AM (CT)
BRUSSELS, Belgium (AP) - European Union trade chief Peter Mandelson on Friday urged China to open its markets to EU goods and quell piracy and counterfeiting.
|
|
|
VW's Spanish division to cut 1,346 jobs
Nov 4 2005 10:17AM (CT)
FRANKFURT, Germany (AP) - Volkswagen AG's Spanish unit, SEAT SA, plans to cut 1,346 jobs, or 8 percent of its work force, in order to cut costs, the company said Friday.
|
|
|
Reinsurer Converium will delay results
Nov 4 2005 9:44AM (CT)
ZUG, Switzerland (AP) - Swiss reinsurance company Converium Holding AG said Friday it would restate its financial accounts and delay its third-quarter report because of the findings of an internal review linked to a wider industry investigation in the United States and Europe.
|
|
|
Repsol's 3Q profit increases 22 percent
Nov 4 2005 9:33AM (CT)
MADRID, Spain (AP) - Spanish-Argentine oil and energy company Repsol YPF said Friday it posted a 22 percent rise in third-quarter net profit, with strong refining operations offsetting a bigger-than-expected decrease in overall oil and gas production.
|
|
|
Unemployment declines in Europe
Nov 4 2005 9:27AM (CT)
BRUSSELS, Belgium (AP) - Unemployment in the 12 countries that use the euro currency fell to 8.4 percent in September as the European economy shows signs of a sluggish recovery.
|
|
|
Puma profit rises on U.S. shoe demand
Nov 4 2005 8:13AM (CT)
FRANKFURT, Germany (AP) - Puma AG, the sports apparel and shoe maker that has lagged behind rivals Adidas-Salomon AG and Nike Inc., said Friday its third-quarter profit rose 11 percent as demand for its sports shoes surged in the United States. It also raised its earnings outlook for the full year.
|
|
|
EU critical of nations' euro preparations
Nov 4 2005 7:41AM (CT)
BRUSSELS, Belgium (AP) - Estonia, Lithuania and Slovenia, the leading candidates to adopt the euro as their currency, need to step up efforts to allay worries that the planned switch in 2007 will be inflationary, the EU said Friday.
|
|
|
Northwest pilots union agrees to pay cut
Nov 4 2005 7:29AM (CT)
MINNEAPOLIS (AP) - Leaders of the union for Northwest Airlines pilots endorsed a temporary contract that would cut the pilots' hourly pay rates by 23.9 percent, a move they say will give them time to negotiate a long-term contract.
|
|
|
Larry Yung tops new Forbes 'rich list'
Nov 4 2005 6:33AM (CT)
SHANGHAI, China (AP) - Larry Yung, chairman of Citic Pacific Ltd., the Hong Kong arm of the Chinese government's main investment company, is the mainland's wealthiest tycoon, the U.S. business magazine Forbes says in its latest China "rich list."
|
|
|
Oil prices push Total to record 3Q profit
Nov 4 2005 6:33AM (CT)
PARIS (AP) - Total SA posted a 32 percent increase in third-quarter profit Friday as soaring oil prices and strong refining margins more than offset the impact of refinery strikes and hurricanes in the Gulf of Mexico.
|
|
|
British Airways posts profit dip on costs
Nov 4 2005 6:32AM (CT)
LONDON (AP) - British Airways PLC posted a 24 percent drop in second quarter net profit Friday, blaming higher fuel costs and the absence of a large one-time gain that boosted the result a year ago.
|
|
|
Puma profit rises on U.S. shoe demand
Nov 4 2005 6:12AM (CT)
FRANKFURT, Germany (AP) - Puma AG, the sports apparel and shoe maker that has lagged behind rivals Adidas-Salomon AG and Nike Inc., said third-quarter net profit rose 11 percent as demand for its sports shoes surged in the United States.
|
|
|
Deutsche Bank joins forces with ICBC
Nov 4 2005 5:33AM (CT)
SHANGHAI, China (AP) - The Industrial & Commercial Bank of China, China's biggest bank, said Friday that it has agreed with Deutsche Bank to cooperate on investment banking services.
|
|
|
Japan's benchmark index breaks past 14,000
Nov 4 2005 5:29AM (CT)
TOKYO (AP) - Japan's benchmark stock index punched through the 14,000 level for the first time in 4 1/2 years Friday, lifted by gains in real esate and construction stocks amid optimism about the nation's economic recovery.
|
|
|
Japan to release oil reserves for 3rd mo.
Nov 4 2005 5:26AM (CT)
TOKYO (AP) - Japan will extend its release of emergency oil reserves for a third month to alleviate market shocks after Hurricane Katrina struck U.S. oil refineries, the Trade Ministry announced Friday.
|
|
|
Doosan chairman steps down amid probe
Nov 4 2005 5:11AM (CT)
SEOUL, South Korea (AP) - A South Korean business tycoon who is also a member of the International Olympic Committee resigned Friday as chairman of the Doosan Group amid an investigation over slush fund allegations at the nation's oldest conglomerate.
|
|
|
U.S. automakers lower incentives in Oct.
Nov 4 2005 4:51AM (CT)
DETROIT (AP) - U.S. automakers lowered discounts and rebates dramatically in October, part of a strategy to focus more on quality and value and less on cash bonuses. But sales plummeted, and analysts wonder if automakers will have the patience to stick with their strategy.
|
|
|
Cold weather boosts retail sales in Oct.
Nov 4 2005 4:49AM (CT)
NEW YORK (AP) - The outlook for the holiday shopping season brightened Thursday as many of the nation's retailers reported that their sales improved in October with the arrival of colder weather and the easing of gasoline prices.
|
|
|
Greenspan warns U.S. on budget deficits
Nov 4 2005 4:45AM (CT)
WASHINGTON (AP) - With just three months left before he leaves office, Federal Reserve Chairman Alan Greenspan raised a warning to Congress: The country could face "serious economic disruptions" if bloated budget deficits are not curbed.
|
|
|
Ill. couple betting on bison meat's future
Nov 4 2005 3:25AM (CT)
COBDEN, Ill. (AP) - Clifton and Kim Howell own more than 250 bison that roam their rolling 800-acre spread, their shapes dotting the landscape and evoking images of the Old West. But the owners of Bison Bluff Farms hope the shaggy animals known for their lean, protein-rich meat will one day become a lucrative business: Consumers are craving healthier red meat, and the American buffalo is marketed as naturally raised without antibiotics or growth hormones.
|
|
|
Aon announces layoffs, posts flat profit
Nov 4 2005 1:05AM (CT)
CHICAGO (AP) - Insurance brokerage Aon Corp. on Thursday reported third quarter net earnings that were flat compared to a year earlier, and announced it is eliminating 1,400 jobs.
|
|
|
|
|
|