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Skilling ordered to prison immediately
Dec 12 2006 11:05PM (CT)
HOUSTON (AP) - A federal appellate court denied former Enron Chief Executive Officer Jeffrey Skilling's request to remain free during his appeal Tuesday and ordered him imprisoned immediately.
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Japanese stocks flat; dollar up vs yen
Dec 12 2006 10:50PM (CT)
TOKYO (AP) - Japanese stocks were flat Wednesday morning amid a lack of market-moving news. The dollar edged higher against the yen.
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Qantas rejects $8.6 billion takeover bid
Dec 12 2006 10:36PM (CT)
SYDNEY, Australia (AP) - Australia's flagship carrier, Qantas Airways, on Wednesday rejected a $8.6 billion takeover bid led by the country's largest investment bank and two North American private-equity firms.
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Qantas rejects $8.6 billion takeover bid
Dec 12 2006 10:35PM (CT)
SYDNEY, Australia (AP) - Australia's flagship carrier, Qantas Airways, on Wednesday rejected a $8.6 billion takeover bid led by the country's largest investment bank and two North American private-equity firms.
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UAL CEO Tilton mum on merger speculation
Dec 12 2006 9:53PM (CT)
CHICAGO (AP) - UAL Corp. CEO Glenn Tilton renewed his call Tuesday for consolidation of the U.S. airline industry but carefully steered clear of speculation his company is seeking a merger partner for United Airlines.
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Taco Bell says food is safe
Dec 12 2006 8:39PM (CT)
LOS ANGELES (AP) - Taco Bell Corp. launched a newspaper ad blitz and sent its president on a string of media interviews Tuesday to persuade customers that its food is safe _ even as the cause of the E. coli outbreak linked to the fast-food chain remained a mystery.
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Oil prices fall but hold above $61
Dec 12 2006 6:22PM (CT)
LONDON (AP) - Oil prices fell but held above $61 a barrel Tuesday as the market awaited OPEC's decision this week on whether to make further production cuts to shore up prices.
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Best Buy 3Q profit falls below forecast
Dec 12 2006 6:18PM (CT)
MINNEAPOLIS (AP) - Discounting took a bite out of Best Buy's third quarter earnings. The nation's largest consumer electronics retailer said Tuesday that fierce competition forced it to sacrifice profit for market share, but all should be well in the fourth quarter. Wall Street wasn't so sure and sent its shares tumbling.
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Goldman Sachs earns $9.4B in fiscal year
Dec 12 2006 6:18PM (CT)
NEW YORK (AP) - The big investment houses are set to deliver unprecedented 2006 results after Goldman Sachs Group Inc. reported Tuesday the biggest annual profit in Wall Street history.
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Sprint names Gary Forsee as chairman
Dec 12 2006 6:17PM (CT)
RESTON, Va. (AP) - Wireless carrier Sprint Nextel Corp. on Tuesday said it named its president and chief executive, Gary D. Forsee, to serve as chairman.
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Fed keeps interest rates unchanged
Dec 12 2006 6:15PM (CT)
WASHINGTON (AP) - The Federal Reserve kept interest rates steady, giving holiday shoppers a reason for some cheer. However, the Fed held back an extra gift Wall Street was hoping for: a signal that rates might actually be lowered soon.
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Bonds rise after Fed keeps rates steady
Dec 12 2006 6:08PM (CT)
NEW YORK (AP) - Treasury bond prices were higher late Tuesday, as the Federal Reserve held rates steady for the fourth-straight meeting but gave a nod to recent weak U.S. economic data.
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U.S. eases tactics on corporate scandals
Dec 12 2006 5:39PM (CT)
WASHINGTON (AP) - The Justice Department put new limits on prosecutors seeking confidential data from corporations Tuesday after critics leaned on the government to back off tough tactics authorized during the Enron-era scandals.
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Government appeals currency ruling
Dec 12 2006 5:23PM (CT)
WASHINGTON (AP) - The Bush administration on Tuesday asked an appeals court to overturn a ruling that would require a redesign of the nation's currency to help the blind.
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Private groups buying Travelocity parent
Dec 12 2006 3:29PM (CT)
DALLAS (AP) - Sabre Holdings Corp., parent of the online travel-booking service Travelocity.com and a leading distributor of airline reservations, said Tuesday it is being acquired by private-equity groups for about $4.5 billion.
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Nasdaq presses bid for London exchange
Dec 12 2006 2:20PM (CT)
LONDON (AP) - The Nasdaq Stock Market Inc. launched its $5.3 billion takeover bid Tuesday for the London Stock Exchange Group PLC, slashing the number of acceptances it needs to make the bid unconditional as it targeted shareholders directly.
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Airbus insider dealing probe intensifies
Dec 12 2006 12:41PM (CT)
PARIS (AP) - Police raided the headquarters of Airbus parent EADS and a major shareholder as an investigation into suspect share dealings intensified Tuesday, overshadowing a ceremony to mark the much-delayed A380's approval for commercial service.
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Britain signs deal on F-35 fighter jet
Dec 12 2006 12:23PM (CT)
COLLEGE PARK, Md. (AP) - Britain signed an agreement Tuesday committing to the next development and production phase of the new Joint Strike Fighter jet, resolving a dispute between the Pentagon and its biggest overseas partner over sharing technology for the advanced fighter jet.
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CEOs in survey expect sales to rise
Dec 12 2006 12:07PM (CT)
WASHINGTON (AP) - Many of America's chief executives expect that sales will increase and work forces will remain at the same level or perhaps higher as the economy settles into a sluggish spell.
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Merck reports progress on overhaul
Dec 12 2006 11:02AM (CT)
TRENTON, N.J. (AP) - The drugmaker Merck & Co. is off to a strong start in its year-old program to cut costs, boost revenues and transform company operations, Chief Executive Officer Richard Clark said Tuesday.
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Infosys: Nasdaq Listing Part of Strategy
Dec 12 2006 10:20AM (CT)
MUMBAI, India (AP) - India's second-largest software company, Infosys Technologies Ltd., said Monday its planned inclusion on the Nasdaq-100 will help it become a mainstream stock in the United States and boost its global profile.
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India industrial production growth slows
Dec 12 2006 8:18AM (CT)
NEW DELHI (AP) - India's industrial production growth slowed to a 6.2 percent pace in October, its lowest growth rate in 10 months, the government said Tuesday.
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2 sanctioned by SEC over PNC accounting
Dec 12 2006 7:44AM (CT)
WASHINGTON (AP) - An accounting executive at PNC Financial Services Group Inc. and an outside auditor were sanctioned by federal regulators for their alleged roles in the regional bank's faulty accounting in 2001, said to have inflated earnings by concealing $762 million in potential liabilities.
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UPS seeking more job cuts
Dec 12 2006 7:27AM (CT)
ATLANTA (AP) - UPS Inc., the world's largest shipping carrier, is seeking more job cuts on top of 1,200 positions in its logistics unit it previously said it would cut.
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Anadarko to outline asset sales
Dec 12 2006 7:26AM (CT)
HOUSTON (AP) - Anadarko Petroleum Corp., one of the nation's largest independent energy exploration and production companies, expects to detail additional asset sales Tuesday that will allow for reduced debt and a more valuable portfolio.
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Survey: 23 pct. of firms to raise staffing
Dec 12 2006 7:02AM (CT)
MILWAUKEE (AP) - Twenty-three percent of U.S. employers plan to hire more people in the first quarter of next year, a level of growth on par with the same period last year but lower than more recent quarters, according to a survey of 14,000 companies.
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Ex-Enron CEO Skilling gets prison delay
Dec 12 2006 6:03AM (CT)
WASECA, Minn. (AP) - The former Enron chief who once resided in a $4.7 million, Mediterranean-style mansion in Houston's toniest neighborhood will get a bit of a reprieve before he must report to prison, where he would likely have three roommates in a converted college dorm room.
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Drought keeps Texas cotton crop down
Dec 12 2006 5:49AM (CT)
LUBBOCK, Texas (AP) - West Texas cotton producer Rickey Bearden lost all 4,000 of his dryland acres to drought, and the lack of rain made his irrigated crop just average.
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China rejects U.S. trade complaints
Dec 12 2006 5:12AM (CT)
BEIJING (AP) - China on Tuesday rejected U.S. complaints that it is failing to live up to market-opening commitments on the eve of a visit to Beijing by U.S. Treasury Secretary Henry Paulson to discuss currency and other contentious issues.
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Nissan: No need to merge with new partner
Dec 12 2006 4:52AM (CT)
ATSUGI, Japan (AP) - Nissan needs to boost production capacity in the United States to meet growing demand for new models but is under no pressure to merge with a new partner following the break-up of alliance talks with General Motors, chief executive Carlos Ghosn said Tuesday.
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Drought keeps cotton crop down
Dec 12 2006 3:22AM (CT)
LUBBOCK, Texas (AP) - West Texas cotton producer Rickey Bearden lost all 4,000 of his dryland acres to drought, and the lack of rain made his irrigated crop just average.
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