Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
Finance chiefs warn ECB on rate rise
Nov 7 2005 11:17PM (CT)
BRUSSELS, Belgium (AP) - EU finance ministers from the 12 countries that use the euro warned the European Central Bank on Monday that they did not see the knock-on effects of higher oil prices _ such as wage increases _ that would justify an interest rate rise.
|
|
|
EEOC files harassment lawsuit against Fox
Nov 7 2005 11:12PM (CT)
NEW YORK (AP) - The Equal Employment Opportunity Commission filed a sexual harassment lawsuit Monday against News Corp.'s Fox News Network on behalf of a female former employee.
|
|
|
Japan stocks rise; dollar lower
Nov 7 2005 10:11PM (CT)
TOKYO (AP) - Japanese stocks slipped Tuesday as investors locked in profits and new data dented optimism about the country's recovering economy. The dollar was lower against the yen.
|
|
|
Ormet to close Ohio plant, lay off 600
Nov 7 2005 9:38PM (CT)
WHEELING, W.Va. (AP) - Aluminum maker Ormet Corp. said Monday it will close its Ohio rolling mill late next year and lay off 600 workers.
|
|
|
Paxson CEO retires
Nov 7 2005 8:44PM (CT)
WEST PALM BEACH, Fla. (AP) - Paxson Communications Corp. founder and chief executive Lowell "Bud" Paxson is resigning from the broadcast network and television station operator, the Florida-based company said Monday.
|
|
|
WTO members discuss disputes hurting pact
Nov 7 2005 8:23PM (CT)
LONDON (AP) - The World Trade Organization may not be able to achieve the goals it has set for a new trade treaty when ministers meet in Hong Kong later this year, the Indian commerce minister said Monday.
|
|
|
Hertz CEO Koch to step down Jan. 1, 2007
Nov 7 2005 8:21PM (CT)
PARK RIDGE, N.J. (AP) - Hertz Corp.'s chairman and CEO, Craig R. Koch, is retiring as of Jan. 1, 2007, due to a family medical issue, a company spokeswoman said.
|
|
|
Former Wal-Mart executive pleads guilty
Nov 7 2005 6:55PM (CT)
LITTLE ROCK, Ark. (AP) - A former Wal-Mart vice president pleaded guilty Monday to three counts of wire fraud, admitting that he manipulated invoices to embezzle money that was funneled to a senior executive.
|
|
|
NYSE seat holder may avoid jail time
Nov 7 2005 6:29PM (CT)
NEW YORK (AP) - A New York Stock Exchange seat holder may avoid jail time in connection with allegations that he made a phone call threatening William Higgins, an outspoken critic of the NYSE's planned acquisition of Archipelago Holdings Inc.
|
|
|
H&R Block COO Jeffrey Yabuki to step down
Nov 7 2005 6:26PM (CT)
KANSAS CITY, Mo. (AP) - H&R Block Inc., the nation's largest income tax preparer, said Monday that its chief operating officer is stepping down to run data processing provider Fiserv Inc.
|
|
|
Bonds post gains ahead of debt auctions
Nov 7 2005 6:12PM (CT)
NEW YORK (AP) - U.S. government bond prices made small gains in a sleepy session Monday, as traders and investors got ready to deal with the Treasury Department's debt auctions, which start Tuesday.
|
|
|
Textile industry backs limits on imports
Nov 7 2005 6:06PM (CT)
WASHINGTON (AP) - U.S. textile industry officials expressed support Monday for a plan to limit imports of Chinese textiles and clothing over the next three years.
|
|
|
Creditors back airline in Disney battle
Nov 7 2005 6:04PM (CT)
WASHINGTON (AP) - United Airlines' creditors have sided with the airline in its battle with the Walt Disney Co., saying the entertainment company's bid to collect a debt could have a "staggering" effect on the airline's other creditors.
|
|
|
Delphi in pay dispute with 4 suppliers
Nov 7 2005 6:01PM (CT)
DETROIT (AP) - Delphi Corp., the largest U.S. auto supplier, is in a legal dispute with four of its own suppliers over a payment disagreement that has been turned over to a bankruptcy court.
|
|
|
Board looks into deaths at Del. refinery
Nov 7 2005 5:59PM (CT)
SAN ANTONIO (AP) - The U.S. Chemical Safety and Hazard Board has sent two investigators to assess whether the deaths of two workers at a Delaware refinery merits a comprehensive probe.
|
|
|
Survey: Banks haven't changed standards
Nov 7 2005 5:55PM (CT)
WASHINGTON (AP) - Most U.S. banks haven't altered lending standards for home equity lines of credit even after authorities raised concerns about whether lenders were adequately weighing risks, says a Federal Reserve survey released Monday.
|
|
|
Guidant sues J&J to force acquisition
Nov 7 2005 5:48PM (CT)
NEW YORK (AP) - Guidant Corp. sued Johnson & Johnson on Monday in an attempt to force it to complete a $25.4 billion acquisition of the medical-device maker, which has been roiled by a series of recalls.
|
|
|
Fiat, Ford sign deal to work on small cars
Nov 7 2005 5:42PM (CT)
TURIN, Italy (AP) - Fiat SpA and Ford Motor Co. said Monday they had signed an agreement to collaborate on small cars, completing a deal to co-develop new models due in 2007 and 2008.
|
|
|
Flyi files for bankruptcy protection
Nov 7 2005 5:41PM (CT)
McLEAN, Va. (AP) - Flyi Inc., which launched low-fare Independence Air just one year ago from its hub at Washington's Dulles Airport, filed for Chapter 11 bankruptcy protection Monday and said it hopes a court-supervised auction will attract a new investor in the next 60 days.
|
|
|
Unions form group to fight Delphi pay cuts
Nov 7 2005 5:31PM (CT)
DETROIT (AP) - Six unions that represent workers at Delphi Corp. said Monday they're banding together to fight proposed wage and benefit cuts at the auto supplier, a sign of strained relations that could lead to a strike.
|
|
|
Consumer credit declines in September
Nov 7 2005 5:15PM (CT)
WASHINGTON (AP) - Credit-card borrowing and other kinds of consumer debt declined for the first time in 10 months in September, reflecting in large part sagging auto sales.
|
|
|
GMAC unit to get investment-grade rating
Nov 7 2005 5:10PM (CT)
NEW YORK (AP) - General Motors Corp.'s commercial mortgage unit can expect an investment-grade rating when its planned buyout is complete, a ratings agency said Monday.
|
|
|
Deutsche Boerse 3Q net profit up 65 pct.
Nov 7 2005 5:07PM (CT)
FRANKFURT, Germany (AP) - Deutsche Boerse AG, the operator of Germany's stock exchange, said Monday its net profit in the third quarter almost doubled from a year ago as sales from its Xetra trading floor rose.
|
|
|
Anheuser-Busch forms spirits subsidiary
Nov 7 2005 5:06PM (CT)
ST. LOUIS (AP) - With consumers increasingly choosing mixed drinks over beer, Anheuser-Busch Cos., the maker of Budweiser and other beer brands, has formed a separate spirits subsidiary.
|
|
|
Prosecutor: Ex-KPMG exec is flight risk
Nov 7 2005 5:01PM (CT)
NEW YORK (AP) - A former KPMG executive should remained jailed as a flight risk and a danger to the community on charges he helped concoct a tax shelter fraud so rich people could evade their taxes, a prosecutor said Monday.
|
|
|
Insurance payouts hit $40.8B in 3rd qtr.
Nov 7 2005 4:58PM (CT)
NEW YORK (AP) - U.S. property and casualty insurers paid out a record $40.8 billion in the third quarter to homeowners and businesses that were hit by Hurricane Katrina and other natural disasters, according to an insurance data group.
|
|
|
Gas prices drop for 5th straight week
Nov 7 2005 4:57PM (CT)
WASHINGTON (AP) - For the fifth straight week, average retail gasoline prices have dropped nationwide, falling below $2.40 a gallon for the first time since early August.
|
|
|
Monday's commodities roundup
Nov 7 2005 4:54PM (CT)
NEW YORK (AP) - Crude oil futures ended under $60 a barrel Monday as unseasonably warm U.S. temperatures lingered into a second straight week.
|
|
|
VNU may scrap acquisition of IMS Health
Nov 7 2005 4:53PM (CT)
THE HAGUE, Netherlands (AP) - Dutch media company VNU NV said Monday it is considering scrapping its planned $6.92 billion acquisition of U.S. health care data provider IMS Health Inc. due to opposition from VNU shareholders.
|
|
|
El Paso 3rd-quarter loss widens to $321M
Nov 7 2005 4:36PM (CT)
HOUSTON (AP) - El Paso Corp., the nation's largest natural gas pipeline company, posted a wider third-quarter loss on Monday because of one-time charges related to a power plant and high oil and gas prices.
|
|
|
Reuters America names Steinharter new CEO
Nov 7 2005 4:26PM (CT)
LONDON (AP) - Phil Lynch is stepping down as chief executive of Reuters America, and will be replaced by Michael Steinharter, parent company Reuters Group PLC said Monday.
|
|
|
Brink's shares up on BAX Global sale talk
Nov 7 2005 4:10PM (CT)
NEW YORK (AP) - Shares of The Brink's Co. climbed Monday after talk resurfaced in published reports that the armored-car operator could sell its heavy-freight delivery unit, BAX Global, to Germany's Deutsche Bahn AG.
|
|
|
Interest rates mixed at Treasury auction
Nov 7 2005 4:09PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills were mixed in Monday's auction with six-month bills rising to the highest level since March 2001.
|
|
|
NBC to offer shows to DirecTV subscribers
Nov 7 2005 4:03PM (CT)
LOS ANGELES (AP) - NBC Universal will offer episodes of several television shows it produces on demand and commercial-free for 99 cents to subscribers of DirecTV who use the satellite provider's new DVR recorder.
|
|
|
Newspaper circulation slides 2.6 percent
Nov 7 2005 3:57PM (CT)
NEW YORK (AP) - Average weekday circulation at U.S. newspapers fell 2.6 percent during the six month-period ending in September in the latest sign of trouble in the newspaper business, an industry group reported Monday.
|
|
|
Le Monde revamps newspaper to woo readers
Nov 7 2005 3:47PM (CT)
PARIS (AP) - French daily newspaper Le Monde launched its first major editorial redesign in a decade Monday, hoping bigger photos, more color, larger typefaces and less text will stem its circulation decline.
|
|
|
Alitalia to proceed with equity plan
Nov 7 2005 3:12PM (CT)
MILAN, Italy (AP) - Troubled airline Alitalia SPA said Monday it would move ahead with a plan to raise 1.2 billion euros ($1.4 billion) in equity from banks, but did not disclose whether it had secured firm backing from its lenders.
|
|
|
M-Flex shares up after earnings top views
Nov 7 2005 3:03PM (CT)
NEW YORK (AP) - Shares of Multi-Fineline Electronix Inc. stock rose Monday in the first day of trading after the company said earnings in the latest quarter topped analysts' expectations.
|
|
|
Bonne Bell Cosmetics namesake dies at 82
Nov 7 2005 2:57PM (CT)
CLEVELAND (AP) - Bonne Bell Eckert, retired chairwoman of Bonne Bell Cosmetics, which her father named for her when she was just 4 years old, has died. She was 82.
|
|
|
Venezuela tanker collision causes oil spill
Nov 7 2005 2:18PM (CT)
CARACAS, Venezuela (AP) - Two tankers collided near Venezuela's Lake Maracaibo shipping lane, and one of the vessels was leaking oil, officials said Monday.
|
|
|
Gov't probes battery cables in Volvo SUVs
Nov 7 2005 1:55PM (CT)
WASHINGTON (AP) - The government has opened an investigation into the 2005 Volvo XC90 sport utility vehicle after receiving complaints about battery cables.
|
|
|
Intrawest reports a quarterly profit
Nov 7 2005 1:36PM (CT)
VANCOUVER, Canada (AP) - Intrawest Corp. reported a profit in the latest quarter due to a jump in revenue from a year earlier.
|
|
|
Bondi likely to be elected Parmalat CEO
Nov 7 2005 1:05PM (CT)
ROME (AP) - The man who has worked to rescue Parmalat from one of Italy's biggest fraud scandals is likely to become the company's next CEO, but whether he can muster enough votes at a shareholders' meeting Tuesday to claim a mandate remains in question.
|
|
|
Matrix shares soar on stock-offer plan
Nov 7 2005 11:52AM (CT)
WASHINGTON (AP) - Matrix Bancorp Inc., a financial services company in the southwestern United States, Monday said it will sell about $134.4 million of stock and install a new management team, sending its shares up sharply.
|
|
|
ABB may regain investment grade status
Nov 7 2005 11:15AM (CT)
ZURICH (AP) - Swiss-Swedish electrical engineering company ABB Ltd. is poised to regain investment grade status, a move that will likely attract more quality-conscious investors and dispel hedge funds that boosted the volatility of stocks and bonds in recent years.
|
|
|
Refco gets 5 bids for some operations
Nov 7 2005 11:13AM (CT)
NEW YORK (AP) - Refco Inc., the troubled commodity-brokerage firm, Monday said it received five bids for its U.S., Europe and Asia operations.
|
|
|
Agency sees world demand for oil climbing
Nov 7 2005 10:58AM (CT)
THE HAGUE, Netherlands (AP) - Global energy needs will surge 50 percent by 2030 and prices will rise if capacity is not significantly increased, the International Energy Agency said Monday in its 2005 World Energy Outlook.
|
|
|
Roche to increase production of Tamiflu
Nov 7 2005 10:28AM (CT)
GENEVA (AP) - Swiss drugmaker Roche Holding AG said Monday it will increase production of Tamiflu to make 300 million treatments of the antiviral drug annually by 2007 in order to meet government orders amid fears of a flu pandemic.
|
|
|
Maytag to close South Carolina plant
Nov 7 2005 10:08AM (CT)
NEWTON, Iowa (AP) - Maytag Corp. said Monday it expects to close its laundry plant in Florence, S.C., by early next year, citing the need to reduce excess capacity.
|
|
|
DaimlerChrysler: Mercedes-Benz sales up
Nov 7 2005 10:02AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG said Monday sales of vehicles produced by its Mercedes Car Group rose 5 percent in October.
|
|
|
Report: NYSE may consider bid for LSE
Nov 7 2005 9:36AM (CT)
NEW YORK (AP) - The New York Stock Exchange is considering entering the bidding war for the London Stock Exchange, according to a British newspaper report.
|
|
|
Prosecutors probe worker on vehicle sale
Nov 7 2005 9:30AM (CT)
BERLIN (AP) - A former employee of German-U.S. carmaker DaimlerChrysler AG is being investigated over the sale of a vehicle to Iraq mentioned in the inquiry into the U.N. oil-for-food program, prosecutors said Monday.
|
|
|
Ryanair posts profit on passenger numbers
Nov 7 2005 9:10AM (CT)
LONDON (AP) - Irish no-frills airline Ryanair Holdings PLC said Monday its second-quarter profit rose 17 percent on the back of increased passenger numbers that helped offset rising fuel costs.
|
|
|
Yahoo, TiVo team up on TV, Web service
Nov 7 2005 8:04AM (CT)
SAN JOSE, Calif. (AP) - Yahoo Inc. and TiVo Inc. are teaming up to blend some of their services, a move that further fades the lines between offices and living rooms, TVs and PCs.
|
|
|
Yahoo, TiVo team up to blend TV, Web
Nov 7 2005 8:04AM (CT)
SAN JOSE, Calif. (AP) - Yahoo Inc. and TiVo Inc. are teaming up to blend some of their services, a move that further fades the lines between offices and living rooms, TVs and PCs.
|
|
|
Yahoo to buy stakes in some Web portals
Nov 7 2005 7:59AM (CT)
FRANKFURT, Germany (AP) - Yahoo Inc. said Monday it will buy the shares of its local portals in three European countries and South Korea that it doesn't already own for about $500 million, taking complete ownership of the Web sites.
|
|
|
Report: Russia mulls China pipeline branch
Nov 7 2005 7:49AM (CT)
MOSCOW (AP) - Russia is working on a feasibility study for a pipeline to China, Energy and Industry Minister Viktor Khristenko said in an interview published Monday.
|
|
|
Munich Re posts higher 3Q net profit
Nov 7 2005 7:31AM (CT)
FRANKFURT, Germany (AP) - The reinsurer Munich Re AG posted a 35 percent rise in third-quarter profit Monday, as proceeds from the sale of a stake in Allianz AG offset its exposure to deadly hurricanes that plagued the Gulf of Mexico this summer.
|
|
|
Walt Disney buys Germany's Living Mobile
Nov 7 2005 7:23AM (CT)
LONDON (AP) - The Walt Disney Co. on Monday announced its acquisition of German game developer and publisher Living Mobile in an effort to expand its role in the European cell phone games market.
|
|
|
Mitarai to head Japanese business lobby
Nov 7 2005 5:58AM (CT)
TOKYO (AP) - Canon Inc. President Fujio Mitarai, who has 20 years experience working in the United States, will take the helm of Japan's most powerful business lobby, the group said Monday.
|
|
|
DoCoMo to buy stake in Tower Records Japan
Nov 7 2005 5:54AM (CT)
TOKYO (AP) - Japan's largest cellular phone service operator NTT DoCoMo Inc. has agreed to purchase a 40 percent stake in Tower Records Japan Inc., effectively putting the top retailer of music software in Japan under DoCoMo's control, the two companies announced Monday.
|
|
|
Product piracy in China growing
Nov 7 2005 5:50AM (CT)
SHANGHAI, China (AP) - Illegal copying of music, movies and other goods by Chinese product pirates is rising despite official promises to stamp it out, U.S. officials said Monday, calling for stronger enforcement of intellectual property laws.
|
|
|
Japan Airlines sinks into 1st half loss
Nov 7 2005 5:34AM (CT)
TOKYO (AP) - Japan Airlines Corp. sank into a loss for the first half through September, thanks to soaring fuel prices and safety concerns, prompting the nation's top carrier to announce an average 10 percent pay cut Monday for its workers.
|
|
|
Wash. mulls new rule on pesticide spraying
Nov 7 2005 3:47AM (CT)
YAKIMA, Wash. (AP) - State officials are considering a new rule that would require farmers to notify schools, nursing homes, hospitals and day care centers next to their orchards and farms when they plan to apply pesticides.
|
|
|
|
|
|