Latest Business News
Economic Figures
Dollar & Gold News
Board of Trade News
Personal Finance
|
|
|
|
|
|
ConocoPhillips to buy Burlington Resources
Dec 12 2005 10:50PM (CT)
HOUSTON (AP) - ConocoPhillips Co., the nation's third biggest energy company, will acquire oil and gas producer Burlington Resources Inc., in a deal worth $35.6 billion, the Houston-based companies announced Monday night.
|
|
|
Japanese stocks mixed after five-year high
Dec 12 2005 10:38PM (CT)
TOKYO (AP) - Japanese stocks were mixed Tuesday morning, with the market's main index slipping from a fresh five-year high reached the session before. The dollar was unchanged against the yen.
|
|
|
Aloha faces snag in bankruptcy emerge
Dec 12 2005 10:25PM (CT)
HONOLULU (AP) - Aloha Airlines faces a last-minute snag in its plans to emerge from bankruptcy this week. The company says further delay could shut down the airline.
|
|
|
United creditors slam management plan
Dec 12 2005 10:01PM (CT)
CHICAGO (AP) - Creditors for United Airlines on Monday asked a federal bankruptcy judge to block the carrier's plan to give management and other salaried employees at least $96 million in stock and other equity as part of its restructuring plan.
|
|
|
Pfizer board boosts quarterly dividend
Dec 12 2005 9:56PM (CT)
NEW YORK (AP) - Drug maker Pfizer Inc. said Monday its board voted to increase the drug company's quarterly cash dividend by 26 percent for the first quarter of next year. Pfizer stock rose more than 1 percent on the news.
|
|
|
Equity firms pay $2.43B for Dunkin' Brands
Dec 12 2005 9:54PM (CT)
BOSTON (AP) - Three private equity firms have agreed to pay $2.43 billion for Dunkin' Donuts and two other restaurant chains, the companies announced Monday.
|
|
|
Judge: Federal Vioxx case to be retried
Dec 12 2005 9:30PM (CT)
HOUSTON (AP) - The nation's first federal Vioxx trial ended Monday with a hung jury, but the case involving the 2001 death of a Florida man who took the once-popular painkiller for a month will be retried, a judge said.
|
|
|
DaimlerChrysler to invest $1B in plants
Dec 12 2005 9:10PM (CT)
FENTON, Mo. (AP) - It was a rare scene for today's automaking industry: executives and union leaders stood on the same stage and praised each other Monday as DaimlerChrysler AG announced it will invest up to $1 billion in two Missouri factories.
|
|
|
DirecTV, 22 states settle complaints
Dec 12 2005 8:21PM (CT)
LAS VEGAS (AP) - DirecTV Inc. has promised to reimburse unhappy customers and to make its advertised offers more clear, according to a settlement the satellite broadcaster reached Monday with 22 states over complaints of deceptive marketing.
|
|
|
Sovereign's largest shareholder sues
Dec 12 2005 8:19PM (CT)
PHILADELPHIA (AP) - Sovereign Bancorp's largest shareholder filed a lawsuit late Monday against the bank and the Spanish conglomerate acquiring a stake in the company, seeking the right to sell its shares at a "fair value."
|
|
|
Gay groups ask Ford to reinstate ads
Dec 12 2005 8:15PM (CT)
WASHINGTON (AP) - Gay and lesbian organizations asked Ford Motor Co. on Monday to reinstate advertising for its luxury Jaguar and Land Rover brands in gay publications and to distance itself from an anti-gay group which had boycotted the automaker's vehicles.
|
|
|
SEC chairman: Agency to simplify rules
Dec 12 2005 8:09PM (CT)
WASHINGTON (AP) - The chairman of the Securities and Exchange Commission said Monday the agency will work to simplify rules and policies that are unclear and may have unintended effects.
|
|
|
Striking Northwest workers to vote on deal
Dec 12 2005 7:30PM (CT)
MINNEAPOLIS (AP) - Striking Northwest Airlines Corp. mechanics will vote on a deal to end the walkout, their union said Monday. If approved, it would give the airline what looks like a total victory.
|
|
|
DreamWorks sale highlights studio obstacles
Dec 12 2005 7:21PM (CT)
LOS ANGELES (AP) - Steven Spielberg, Jeffrey Katzenberg and David Geffen tried to harness their collective star power in 1994 to do what hadn't been done in more than 70 years _ start a Hollywood studio from scratch. They called it DreamWorks SKG, the letters standing for the last names of the founders.
|
|
|
Wis. station sells newsroom naming rights
Dec 12 2005 7:15PM (CT)
MADISON, Wis. (AP) - A radio station has sold the naming rights to its newsroom, sparking some concern that advertisers had crossed a line and could influence news coverage.
|
|
|
Calpine names Robert May as its new CEO
Dec 12 2005 7:09PM (CT)
SAN FRANCISCO (AP) - Struggling power merchant Calpine Corp. on Monday hired veteran troubleshooter Robert P. May as its new CEO, entrusting him to clean up a financial mess that could force the company to seek bankruptcy protection.
|
|
|
Oil prices climb to $61 per barrel
Dec 12 2005 6:15PM (CT)
WASHINGTON (AP) - Oil prices climbed by almost $2 a barrel Monday after OPEC agreed to keep its production level steady and cold weather raised concerns about rising demand for home-heating fuels.
|
|
|
SEC staff, ex-Gemstar exec negotiate deal
Dec 12 2005 6:03PM (CT)
WASHINGTON (AP) - The staff of the Securities and Exchange Commission has negotiated a settlement with another former Gemstar-TV Guide International Inc. executive whom they sued after the company's $250 million accounting fraud.
|
|
|
Medco Health Solutions faces fraud suit
Dec 12 2005 6:02PM (CT)
WASHINGTON (AP) - Medco Health Solutions Inc. learned Monday that it has been named as a defendant in a qui tam action, the company said in a Securities and Exchange Commission filing.
|
|
|
Treasurys lose steam ahead of meeting
Dec 12 2005 5:52PM (CT)
NEW YORK (AP) - The U.S. Treasury market meandered through Monday's session with a modestly negative bent, as traders and investors braced for Tuesday's Federal Reserve meeting.
|
|
|
Bristol-Myers Squibb plans to cut costs
Dec 12 2005 5:48PM (CT)
NEW YORK (AP) - Drug maker Bristol-Myers Squibb Co. said Monday it plans to cut costs by at least $500 million in 2007 through unspecified "productivity plans" and reiterated its intention to return the company to earnings growth that year.
|
|
|
Pinnacle shares fall on NWA bid request
Dec 12 2005 5:13PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. has requested bids for flying some of its smaller jets, prompting a sell-off of the shares of regional partner Pinnacle Airlines Corp.
|
|
|
UAW leaders, Ford to meet to review deal
Dec 12 2005 5:10PM (CT)
DETROIT (AP) - United Auto Workers leaders will meet Wednesday to review a tentative agreement on health care costs with Ford Motor Co., the union said.
|
|
|
NYSE fines Noyes for unsuitable sales
Dec 12 2005 5:09PM (CT)
NEW YORK (AP) - New York Stock Exchange Regulation said Monday it imposed a $550,000 fine on brokerage and member firm David A. Noyes & Co. for unsuitable sales of variable annuities.
|
|
|
3 offers said expected for Tommy Hilfiger
Dec 12 2005 5:07PM (CT)
NEW YORK (AP) - Fashion company Tommy Hilfiger Corp., which put itself on the auction block in August, is expected to have three offers by Friday, according to a report published Monday.
|
|
|
Case: AOL-Time Warner should be split up
Dec 12 2005 5:05PM (CT)
NEW YORK (AP) - Steve Case, the co-founder of AOL and one of the main architects of the disastrous AOL-Time Warner combination, now says the world's biggest media company should be broken up into four business units.
|
|
|
Chrysler to expand offerings in Europe
Dec 12 2005 5:02PM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG will open more Chrysler dealerships in Europe, double the number of models by the American unit in Europe and open a new office in Germany as it moves to bolster its presence in the European auto market.
|
|
|
Monday's commodities roundup
Dec 12 2005 5:01PM (CT)
NEW YORK (AP) - Gold prices rose Monday, hitting a 25-year high as investor interest in the yellow metal boomed.
|
|
|
S&P cuts GM debt rating deeper into junk
Dec 12 2005 4:56PM (CT)
NEW YORK (AP) - Standard & Poor's cut its ratings on General Motors Corp. deeper into junk status on Monday, citing increased skepticism about the troubled automaker's ability to revitalize North American operations.
|
|
|
Merck undaunted by stronger Vioxx cases
Dec 12 2005 4:55PM (CT)
NEW YORK (AP) - Merck & Co. goes into the next slated Vioxx trial facing plaintiffs armed with stronger cases, a winning lawyer and new evidence against it. But Merck's general counsel, Kenneth C. Frazier, said the drug maker is undaunted, repeating his statement that the company acted responsibly and remains committed to trying each case individually.
|
|
|
'New' Viacom sets stock buyback program
Dec 12 2005 4:50PM (CT)
NEW YORK (AP) - Viacom Inc., which is about to split into a cable network and a broadcast TV company, said Monday its board had authorized the new cable company to repurchase up to $3 billion of its own shares on the open market.
|
|
|
Morningstar to buy Ibbotson Associates
Dec 12 2005 4:49PM (CT)
CHICAGO (AP) - Morningstar Inc., the mutual-fund and stock research company, has agreed to buy financial consulting firm Ibbotson Associates for $83 million, the two companies announced Monday.
|
|
|
Analysts mixed after Vioxx case mistrial
Dec 12 2005 4:41PM (CT)
TRENTON, N.J. (AP) - The mistrial declared Monday in Merck & Co.'s first federal trial over Vioxx drew mixed reactions from stock analysts, but investors clearly didn't like the outcome, sending shares down more than 2 percent in heavy trading.
|
|
|
Whirlpool to lay off 730 at Ark. plant
Dec 12 2005 4:38PM (CT)
FORT SMITH, Ark. (AP) - Appliance maker Whirlpool Corp. announced Monday it plans to lay off 730 workers at its refrigerator plant in Fort Smith, Ark.
|
|
|
OPEC to keep oil production level steady
Dec 12 2005 4:25PM (CT)
KUWAIT CITY (AP) - OPEC decided Monday to keep its crude-oil production steady at record levels for now, and to meet next month to consider reducing output _ a strategy meant to keep markets calm but prices firm.
|
|
|
Rates fall at weekly Treasury auction
Dec 12 2005 3:59PM (CT)
WASHINGTON (AP) - Interest rates on short-term Treasury bills fell in Monday's auction with three-month bills dropping to the lowest level since mid-October.
|
|
|
Google tops list of new Nasdaq 100 entries
Dec 12 2005 3:58PM (CT)
NEW YORK (AP) - High-flying Internet company Google Inc. and 11 other companies were added Monday to the Nasdaq 100, the Nasdaq Stock Market's index of the 100 largest non-financial companies listed on the market.
|
|
|
Delta pay cut deal a rare win for pilots
Dec 12 2005 3:54PM (CT)
ATLANTA (AP) - For months, Delta Air Lines Inc. insisted its pilots concede to $325 million in pay and benefit cuts, and the company asked a bankruptcy court judge to help it impose its will.
|
|
|
Gold prices rise to 25-year high
Dec 12 2005 3:47PM (CT)
NEW YORK (AP) - Gold prices rose Monday, hitting a 25-year high as investor interest in the yellow metal boomed.
|
|
|
Indictments said sought in Cirio probe
Dec 12 2005 3:18PM (CT)
ROME (AP) - Prosecutors investigating the collapse of Italian food company Cirio Finanziaria SPA have requested the indictments of 44 people on fraud-related bankruptcy charges, Italian news agencies reported Monday.
|
|
|
Meridian Bioscience rises on Baird upgrade
Dec 12 2005 2:17PM (CT)
NEW YORK (AP) - Meridian Bioscience Inc. shares jumped Monday as Robert W. Baird & Co. upgraded the stock to "outperform" from "neutral," citing valuation.
|
|
|
Bentley shares decline after downgrade
Dec 12 2005 2:16PM (CT)
NEW YORK (AP) - Bentley Pharmaceuticals Inc. stock fell Monday after Raymond James & Associates downgraded the specialty drug company on valuation and the upcoming expiration of patent protection on its key drug-delivery technology.
|
|
|
Musicland Group closing Media Play stores
Dec 12 2005 2:05PM (CT)
MINNETONKA, Minn. (AP) - Musicland Group Inc. will close its 61 Media Play stores across the country by late January, a company spokeswoman said.
|
|
|
CNOOC to explore for oil with Newfield
Dec 12 2005 1:51PM (CT)
HONG KONG (AP) - CNOOC Ltd., China's largest offshore oil producer, said Monday that its parent company will explore oil and gas reserves in Chinese waters with Texas-based energy company Newfield Exploration Co.
|
|
|
Japan brokerage must compensate for error
Dec 12 2005 1:39PM (CT)
TOKYO (AP) - Regulators on Monday ordered a Japanese brokerage house to compensate investors with hefty penalty payments following a massive trading error that news reports said could cost the brokerage up to $333 million.
|
|
|
German fourth-quarter GDP likely to pick up
Dec 12 2005 1:06PM (CT)
FRANKFURT, Germany (AP) - Economic research institute DIW said Monday that growth in Germany picked up slightly during the fourth quarter because of increased demand from abroad.
|
|
|
Key figures in first federal Vioxx trial
Dec 12 2005 12:56PM (CT)
HOUSTON (AP) - Here's a look at key players in the nation's third Vioxx-related civil trial, and the first to go before a federal jury. The judge in the case declared a mistrial Monday because of a hung jury after about 18 hours of deliberations over three days.
|
|
|
Hippe: Continental Tire may close plant
Dec 12 2005 12:46PM (CT)
FRANKFURT, Germany (AP) - The head of German auto-parts supplier Continental AG's U.S. division said Monday the company hasn't ruled out closing its tire plant in the state of North Carolina if unions won't agree to accept lower wages.
|
|
|
Japan's current account surplus expands
Dec 12 2005 12:33PM (CT)
TOKYO (AP) - Japan's current account surplus, its broadest measure of trade, expanded 2.6 percent in October from a year ago, bolstered by rising exports, the Ministry of Finance said Monday.
|
|
|
Businesses near explosions assess damage
Dec 12 2005 12:33PM (CT)
LONDON (AP) - Online clothing retailer ASOS PLC suspended operations Monday while brewer Scottish & Newcastle PLC warned of multimillion pound losses after both companies' warehouses were severely damaged by blasts at the nearby Buncefield oil depot.
|
|
|
Roche picks potential Tamiflu partners
Dec 12 2005 12:31PM (CT)
GENEVA (AP) - Swiss drugmaker Roche Holding AG said Monday it has chosen 12 potential partners for the production of Tamiflu and granted one sublicense for the antiviral drug to Shanghai Pharmaceutical.
|
|
|
Marks & Spencer challenge may see copycats
Dec 12 2005 12:14PM (CT)
BRUSSELS, Belgium (AP) - An EU court will rule Tuesday on whether British retailer Marks & Spencer PLC can claim back taxes it paid on foreign losses, a case that could force European governments to pay out billions of euros and change how they tax companies.
|
|
|
Top court takes Mohawk Industries appeal
Dec 12 2005 12:08PM (CT)
WASHINGTON (AP) - Mohawk Industries Inc. Monday won a chance to convince the U.S. Supreme Court that it shouldn't face a civil racketeering lawsuit brought by employees alleging the carpeting company hired illegal immigrants and depressed the wages of U.S. citizens working for it.
|
|
|
IG Metall union is a seeking pay increase
Dec 12 2005 11:29AM (CT)
FRANKFURT, Germany (AP) - Germany's biggest labor union, IG Metall, said Monday it planned to seek a pay increase of 5 percent next year for its 3.4 million members when it enters wage talks with employers.
|
|
|
Impasse on farm trade focus of WTO meeting
Dec 12 2005 11:17AM (CT)
HONG KONG (AP) - An impasse between rich and poor nations over farm trade threatens to undermine progress at this week's World Trade Organization meeting, trade ministers said Monday as delegates from 149 countries gathered to work toward an eventual global treaty that would cut trade barriers.
|
|
|
Crystal River Capital files for IPO
Dec 12 2005 11:07AM (CT)
WASHINGTON (AP) - Crystal River Capital Inc. plans to go public in an initial stock offering worth as much as $460 million, according to a regulatory filing.
|
|
|
Electrolux closing plant, cutting jobs
Dec 12 2005 10:34AM (CT)
FRANKFURT, Germany (AP) - Swedish home-appliance maker AB Electrolux will close its plant in Nuremberg, Germany, by the end of 2007, transferring production to Poland and Italy and eliminating 1,750 jobs.
|
|
|
OECD: China tech exports overtake U.S.
Dec 12 2005 9:35AM (CT)
PARIS (AP) - China has overtaken the United States as the world's largest exporter of a broad category of electronic goods including computers, mobile phones and digital cameras, the OECD said Monday.
|
|
|
DreamWorks deal critical for Paramount
Dec 12 2005 9:10AM (CT)
LOS ANGELES (AP) - An agreement to sell DreamWorks SKG Inc. marks the end of an 11-year dream for Hollywood moguls Steven Spielberg, Jeffrey Katzenberg and David Geffen.
|
|
|
EU may file suit to force China on cars
Dec 12 2005 8:57AM (CT)
BRUSSELS, Belgium (AP) - The EU said Monday it may file a World Trade Organization suit to force China to do more to protect automakers' patents and drop unfair barriers to foreign investors.
|
|
|
AT&T, unions reach tentative agreement
Dec 12 2005 8:25AM (CT)
SAN ANTONIO (AP) - The telecommunications company AT&T Inc. and two unions have reached a tentative agreement on a contract for more than 11,000 workers, and union members are expected to vote on it over the next several weeks.
|
|
|
EU urged to make stronger farm cut plan
Dec 12 2005 6:05AM (CT)
HONG KONG (AP) - U.S. Trade Representative Rob Portman said Monday he expects to make progress at this week's world trade talks, urging the European Union to propose deeper cuts to agricultural tariffs that keep poorer countries from cracking richer nations' markets.
|
|
|
Mid-season report: Stores boosts discounts
Dec 12 2005 4:19AM (CT)
NEW YORK (AP) - With less than two weeks of shopping left until Dec. 25, the nation's stores boosted discounts on toys and apparel over the weekend.
|
|
|
Some Midwest farmers get retirement plan
Dec 12 2005 3:31AM (CT)
HALLSVILLE, Mo. (AP) - After nearly 30 years of growing corn and soybeans and raising hogs, Frank Martin's retirement wish is to get on his bicycle and ride into the sunset.
|
|
|
|
|
|