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Visa reports $861 loss for fiscal 2007
Dec 21 2007 6:34PM (CT)
SAN FRANCISCO (AP) - Cleaning up old legal problems saddled Visa Inc. with an $861 million loss in its latest fiscal year, according to documents the credit card network filed Friday in preparation for its initial public offering of stock.
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Goldman CEO gets $68.5M pay package
Dec 21 2007 6:10PM (CT)
NEW YORK (AP) - Not all chief executives at the nation's largest investment banks will receive a lump of coal instead of their typical millions of dollars in holiday bonuses this Christmas.
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Merrill may get capital infusion
Dec 21 2007 6:08PM (CT)
NEW YORK (AP) - Singapore's state-owned investment fund is mulling a $5 billion investment in Merrill Lynch & Co., according to a report Friday, potentially providing the nation's biggest brokerage with badly needed cash amid billions of dollars in credit losses.
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Merrill may get capital infusion
Dec 21 2007 6:08PM (CT)
NEW YORK (AP) - Singapore's state-owned investment fund is mulling a $5 billion investment in Merrill Lynch & Co., according to a report Friday, potentially providing the nation's biggest brokerage with badly needed cash amid billions of dollars in credit losses.
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Circuit City posts huge 3Q loss
Dec 21 2007 6:03PM (CT)
RICHMOND, Va. (AP) - Holiday shopping might not be enough to save the fourth quarter for struggling electronics retailer Circuit City Stores Inc.
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Circuit City posts huge 3Q loss
Dec 21 2007 6:03PM (CT)
RICHMOND, Va. (AP) - Holiday shopping might not be enough to save the fourth quarter for struggling electronics retailer Circuit City Stores Inc.
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Marsh & McLennan begins CEO search
Dec 21 2007 5:51PM (CT)
NEW YORK (AP) - Marsh & McLennan Cos. said Friday its board is ousting Chief Executive Michael G. Cherkasky and searching for a replacement in response to shareholder concerns over the insurance broker's declining profit and share price.
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Marsh & McLennan begins CEO search
Dec 21 2007 5:51PM (CT)
NEW YORK (AP) - Marsh & McLennan Cos. said Friday its board is ousting Chief Executive Michael G. Cherkasky and searching for a replacement in response to shareholder concerns over the insurance broker's declining profit and share price.
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Treasurys sell off as stocks recover
Dec 21 2007 5:43PM (CT)
NEW YORK (AP) - Treasury prices dropped Friday, breaking from a recent rally, as investors ventured into the stock market to look for bargains after recent selloffs.
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SEC probing Washington Mutual
Dec 21 2007 5:22PM (CT)
WASHINGTON (AP) - The Securities and Exchange Commission is probing how Washington Mutual Inc., the nation's largest savings and loan, handled mortgages that were possibly based on inflated home appraisals.
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Philips bids $5.1B for Respironics
Dec 21 2007 5:11PM (CT)
AMSTERDAM, Netherlands (AP) - Royal Philips Electronics NV said Friday it will bid around $5.1 billion for Murrysville, Pa.-based Respironics Inc., a maker of medical devices that assist or monitor breathing.
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Gold rises as dollar falls vs. euro
Dec 21 2007 4:02PM (CT)
NEW YORK (AP) - Gold futures jumped Friday as the dollar retreated and oil prices rose, leading investors to seek a refuge in precious metals. Trading volume was thin heading into the holidays.
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Gold rises as dollar falls vs. euro
Dec 21 2007 4:02PM (CT)
NEW YORK (AP) - Gold futures jumped Friday as the dollar retreated and oil prices rose, leading investors to seek a refuge in precious metals. Trading volume was thin heading into the holidays.
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Oil rises on consumer spending report
Dec 21 2007 3:23PM (CT)
NEW YORK (AP) - Oil prices jumped in light trading Friday after the government reported that consumer spending surged last month, raising hopes that the economy will weather the crisis roiling credit markets and that demand for oil and gasoline will strengthen.
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Walgreen 1Q earnings rise 5.5 percent
Dec 21 2007 2:45PM (CT)
CHICAGO (AP) - Drugstore chain Walgreen Co. used cost-cutting to help it overcome tougher economic conditions in its fiscal first quarter, reporting a modest 5.5 percent profit increase Friday that surpassed Wall Street's expectations.
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Merrill Lynch execs get separate trials
Dec 21 2007 2:41PM (CT)
HOUSTON (AP) - Three former Merrill Lynch & Co. executives whose 2004 fraud and conspiracy convictions connected to an Enron Corp. deal were overturned will be retried separately, a federal judge ruled Friday.
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WTO clears $21M in sanctions vs. US
Dec 21 2007 12:14PM (CT)
GENEVA (AP) - The United States faces a token $21 million in annual trade sanctions as a result of its online betting ban, the World Trade Organization said Friday in awarding Antigua and Barbuda the right to target U.S. services, copyrights and trademarks.
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BMW plans job cuts next year
Dec 21 2007 11:10AM (CT)
MUNICH, Germany (AP) - BMW AG said Friday it will cut thousands of jobs next year, three months after incoming CEO Norbert Reithofer said he would focus on increasing the rate of return for the automaker.
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Fed: Another $20B auctioned to banks
Dec 21 2007 11:05AM (CT)
WASHINGTON (AP) - The Federal Reserve, working to combat the effects of a severe credit crunch, announced Friday it had auctioned another $20 billion in funds to commercial banks at an interest rate of 4.67 percent. Fed officials pledged to continue with the auctions "for as long as necessary."
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China inaugurates homegrown jet
Dec 21 2007 9:09AM (CT)
SHANGHAI, China (AP) - China's first fully homegrown commercial aircraft rolled off the production line Friday, marking a potential milestone for the country's aviation program.
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China inaugurates homegrown jet
Dec 21 2007 9:09AM (CT)
SHANGHAI, China (AP) - China's first fully homegrown commercial aircraft rolled off the production line Friday, marking a potential milestone for the country's aviation program.
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Walgreen 1st-quarter profit rises
Dec 21 2007 8:40AM (CT)
NEW YORK (AP) - Drugstore operator Walgreen Co. on Friday said its fiscal first quarter profit rose 6 percent, helped by cost cutting and sales of private-label products as consumers sought out low-price goods.
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Miller, Molson Coors nudge US deal
Dec 21 2007 7:44AM (CT)
MILWAUKEE (AP) - SABMiller PLC, parent company of Miller Brewing Co., and Molson Coors Brewing Co. took another step toward combining their U.S. beer operations, saying Friday they had signed a definitive agreement for the deal which still requires regulatory clearance.
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China: 2008 growth forecast at 10.9 pct
Dec 21 2007 7:08AM (CT)
BEIJING (AP) - China's economic growth is expected to slow slightly next year to a still robust 10.9 percent, with inflation at 4.5 percent, the central bank's research bureau said in a forecast reported Friday by a government newspaper.
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China: 2008 growth forecast at 10.9 pct
Dec 21 2007 7:08AM (CT)
BEIJING (AP) - China's economic growth is expected to slow slightly next year to a still robust 10.9 percent, with inflation at 4.5 percent, the central bank's research bureau said in a forecast reported Friday by a government newspaper.
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Sharp tying up in LCDs with Toshiba
Dec 21 2007 7:06AM (CT)
TOKYO (AP) - Japanese electronics rivals Toshiba and Sharp expanded ties in making liquid crystal displays Friday, with competition growing increasingly intense among flat-panel TV producers.
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Sharp tying up in LCDs with Toshiba
Dec 21 2007 7:06AM (CT)
TOKYO (AP) - Japanese electronics rivals Toshiba and Sharp expanded ties in making liquid crystal displays Friday, with competition growing increasingly intense among flat-panel TV producers.
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Sharp tying up in LCDs with Toshiba
Dec 21 2007 7:06AM (CT)
TOKYO (AP) - Japanese electronics rivals Toshiba and Sharp expanded ties in making liquid crystal displays Friday, with competition growing increasingly intense among flat-panel TV producers.
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Sharp tying up in LCDs with Toshiba
Dec 21 2007 7:06AM (CT)
TOKYO (AP) - Japanese electronics rivals Toshiba and Sharp expanded ties in making liquid crystal displays Friday, with competition growing increasingly intense among flat-panel TV producers.
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Sharp tying up in LCDs with Toshiba
Dec 21 2007 7:06AM (CT)
TOKYO (AP) - Japanese electronics rivals Toshiba and Sharp expanded ties in making liquid crystal displays Friday, with competition growing increasingly intense among flat-panel TV producers.
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Sharp tying up in LCDs with Toshiba
Dec 21 2007 7:06AM (CT)
TOKYO (AP) - Japanese electronics rivals Toshiba and Sharp expanded ties in making liquid crystal displays Friday, with competition growing increasingly intense among flat-panel TV producers.
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Nikkei closes higher on tech gains
Dec 21 2007 7:03AM (CT)
TOKYO (AP) - Japanese stocks rose Friday, led by electronics shares following Nasdaq's rally in the U.S. and a joint-venture agreement by Toshiba and Sharp in the liquid crystal display business.
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Corn now the top harvested crop in N.D.
Dec 21 2007 5:18AM (CT)
FARGO, N.D. (AP) - The state corn growers association has outgrown its headquarters, thanks in part to a record year that pushed corn ahead of spring wheat as the state's No. 1 harvested crop, organization officials said.
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Bonuses on Wall Street surge 14 percent
Dec 21 2007 4:56AM (CT)
NEW YORK (AP) - This might have been one of Wall Street's most dismal years in a decade, but that hasn't stopped bonus checks from rising an average of 14 percent.
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Bonuses on Wall Street surge 14 percent
Dec 21 2007 4:56AM (CT)
NEW YORK (AP) - This might have been one of Wall Street's most dismal years in a decade, but that hasn't stopped bonus checks from rising an average of 14 percent.
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Bonuses on Wall Street surge 14 percent
Dec 21 2007 4:56AM (CT)
NEW YORK (AP) - This might have been one of Wall Street's most dismal years in a decade, but that hasn't stopped bonus checks from rising an average of 14 percent.
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Zell sets new tone as Tribune Co.'s CEO
Dec 21 2007 4:56AM (CT)
CHICAGO (AP) - Real estate mogul Sam Zell strode into Tribune Co.'s ornate headquarters in his trademark jeans and cowboy boots and declared that things will be different from now on at the 160-year-old newspaper and TV company. Whether that means a turnaround for a struggling, debt-laden company remains to be seen.
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Zell sets new tone as Tribune Co.'s CEO
Dec 21 2007 4:56AM (CT)
CHICAGO (AP) - Real estate mogul Sam Zell strode into Tribune Co.'s ornate headquarters in his trademark jeans and cowboy boots and declared that things will be different from now on at the 160-year-old newspaper and TV company. Whether that means a turnaround for a struggling, debt-laden company remains to be seen.
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Zell sets new tone as Tribune Co.'s CEO
Dec 21 2007 4:56AM (CT)
CHICAGO (AP) - Real estate mogul Sam Zell strode into Tribune Co.'s ornate headquarters in his trademark jeans and cowboy boots and declared that things will be different from now on at the 160-year-old newspaper and TV company. Whether that means a turnaround for a struggling, debt-laden company remains to be seen.
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Merrill Lynch may get capital infusion
Dec 21 2007 4:16AM (CT)
SINGAPORE (AP) - Merrill Lynch & Co. may get a capital infusion of as much as $5 billion from Singapore state-owned investment agency Temasek Holdings Pte. Ltd., a newspaper reported Friday.
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FedEx 2Q profit falls on fuel costs
Dec 21 2007 4:00AM (CT)
MEMPHIS, Tenn. (AP) - Package courier FedEx Corp. reported Thursday its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs, lower demand for freight shipments and an overall sluggish U.S. economy.
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FedEx 2Q profit falls on fuel costs
Dec 21 2007 4:00AM (CT)
MEMPHIS, Tenn. (AP) - Package courier FedEx Corp. reported Thursday its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs, lower demand for freight shipments and an overall sluggish U.S. economy.
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FedEx 2Q profit falls on fuel costs
Dec 21 2007 4:00AM (CT)
MEMPHIS, Tenn. (AP) - Package courier FedEx Corp. reported Thursday its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs, lower demand for freight shipments and an overall sluggish U.S. economy.
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FedEx 2Q profit falls on fuel costs
Dec 21 2007 4:00AM (CT)
MEMPHIS, Tenn. (AP) - Package courier FedEx Corp. reported Thursday its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs, lower demand for freight shipments and an overall sluggish U.S. economy.
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FedEx 2Q profit falls on fuel costs
Dec 21 2007 4:00AM (CT)
MEMPHIS, Tenn. (AP) - Package courier FedEx Corp. reported Thursday its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs, lower demand for freight shipments and an overall sluggish U.S. economy.
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FedEx 2Q profit falls on fuel costs
Dec 21 2007 4:00AM (CT)
MEMPHIS, Tenn. (AP) - Package courier FedEx Corp. reported Thursday its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs, lower demand for freight shipments and an overall sluggish U.S. economy.
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Writedown leads to Bear Stearns' loss
Dec 21 2007 3:59AM (CT)
NEW YORK (AP) - Bear Stearns Cos. said Thursday a bigger-than-expected writedown in its mortgage portfolio caused the nation's fifth-largest U.S. investment bank to post the first loss in its 84-year history.
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Blockbuster raising prices for service
Dec 21 2007 1:28AM (CT)
DALLAS (AP) - Blockbuster Inc., which has been losing money on online movie orders, is boosting prices of its DVD-by-mail service for new customers and some existing ones by up to 40 percent.
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