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Fed's Hoenig warns of inflation's corrosive impact 6 May 08, 23:28 ET Reuters - The Federal Reserve must be ready to raise benchmark interest rates in a timely manner given the "troublesome" inflation outlook, Kansas City Fed President Thomas Hoenig said on Tuesday. more Profits for Brazil's Embraer rise 8 percent 6 May 08, 22:22 ET AP - Profits for Brazil's Embraer jet maker rose 8.4 percent in the first quarter amid strong global demand for its mid-size passenger planes and new executive jets, the company said Tuesday. more Cisco results beat forecasts but CEO cautious 6 May 08, 21:19 ET Reuters - Cisco Systems Inc gave a cautious business outlook on Tuesday, although its quarterly results exceeded expectations as rising Internet traffic fueled demand for network equipment. more Sprint, Clearwire to reveal $12 bln JV: sources 6 May 08, 20:53 ET Reuters - Sprint Nextel Corp and Clearwire Corp are near announcing a $12 billion joint venture with major cable operators to offer services based on WiMax, an emerging technology that could make wireless Internet ubiquitous, people close to the talks said on Tuesday. more Growth in media, films, parks lifts Disney 2Q profit 22 pct 6 May 08, 18:55 ET AP - The Walt Disney Co. said Tuesday that a weak U.S. dollar kept domestic vacationers closer to home, boosting theme park revenue while growth in the company's film studios and media networks also helped push second-quarter net profit 22 percent higher. more Housing picture worsens as Fannie sees price drop 6 May 08, 18:22 ET AP - The outlook for the housing market darkened further Tuesday as the nation's largest buyer of home mortgages said it racked up more than $2 billion in quarterly losses and forecast a steeper drop in home prices this year. more Countrywide Financial admits loan officers made errors 6 May 08, 18:06 ET AP - Mortgage lender Countrywide Financial Corp., which is under investigation for inflating certain borrowers' fees, acknowledged Tuesday that it has made errors and pledged to take steps to improve its operations. more MGM Mirage profit dips as tourists pinch pennies 6 May 08, 17:47 ET AP - The chief executive of MGM Mirage Inc. said Tuesday the casino company planned to push ahead with new projects even after construction costs and an economy that is discouraging spending sent first-quarter profit tumbling 30 percent. more Sprint, Clearwire to announce $12 bln JV: source 6 May 08, 17:38 ET Reuters - Sprint Nextel Corp and Clearwire Corp are close to announcing a $12 billion joint venture with major cable operators for high speed wireless Internet access for mobile phones and laptops, a source familiar with the talks said on Tuesday. more Disney beats Wall Street, movies, parks strong 6 May 08, 17:13 ET Reuters - Walt Disney Co posted a better-than-expected 22 percent rise in quarterly earnings as "Enchanted" did well on DVD and in foreign theaters and a weak economy failed to dampen spirits at its theme parks. more Cisco quarterly results top expectations 6 May 08, 16:49 ET Reuters - Cisco Systems Inc reported stronger-than-expected quarterly profits on Tuesday as rising Internet traffic fueled sales of its network equipment, despite concerns of a slowing U.S. economy. more Apple's Technical Support Is the Best, Survey Finds 6 May 08, 16:45 ET NewsFactor - Calling computer tech support is generally not a happy way to spend an afternoon. Except, apparently, when calling Apple. more Wachovia nearly doubles its 1Q loss to $708 million 6 May 08, 16:27 ET AP - Wachovia Corp. said Tuesday it is nearly doubling previously reported losses for the first quarter after reviewing its portfolio of bank-owned life insurance. more Cisco 3Q profit falls, but adjusted income tops analyst view 6 May 08, 16:24 ET AP - Cisco says its fiscal third-quarter profit declined, but the networking gear maker's adjusted earnings and revenue topped Wall Street's expectations. more Medtronic to cut about 1,100 jobs 6 May 08, 15:57 ET Reuters - Medtronic Inc on Tuesday said it would eliminate about 1,100 jobs this year, or almost 3 percent of its work force, in businesses whose growth has slowed, including its flagship heart rhythm device unit. more Government again raises estimates on oil, gas prices 6 May 08, 15:05 ET AP - The government on Tuesday again raised its short-term price forecasts for crude oil and gasoline - trends that are expected to tamp down demand. more Stocks lift even as oil prices soar to $122 a barrel 6 May 08, 15:00 ET AP - Stocks reversed early losses to trade modestly higher Tuesday, as investors monitored the movements of record-high oil prices but still laid bets that the economy and companies are in recovery mode. more How China's citizens could provide a prop for US equities 6 May 08, 12:50 ET FT.com - China's policy mix, with its artificially low exchange rate, huge current account surplus, burgeoning reserves and consequent excess liquidity, looks tailor-made to generate asset price bubbles. But was the recent boom and bust in the Shanghai stock market really a case of bubble behaviour? more "Super-spike" could lift oil to $200: Goldman 6 May 08, 12:07 ET Reuters - Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs said in a research note. more Airbus reviewing A380 delivery schedule: CEO 6 May 08, 11:18 ET AFP - European plane maker Airbus is reviewing the delivery schedule of its flagship A380 superjumbo jet and its most important client Emirates said Tuesday it had been told to expect new delays. more AT&T Cell-Phone TV Service Runs on its Own Network 6 May 08, 10:24 ET NewsFactor - If being away from your television leaves you nervous about missing the latest wisdom from Anderson Cooper or SpongeBob SquarePants, AT has some reassuring news for you. Its AT Mobile TV will provide round-the-clock access to popular TV fare on your cell phone. more Wachovia restates, nearly doubles loss 6 May 08, 09:59 ET Reuters - Wachovia Corp , the fourth-largest U.S. bank, on Tuesday nearly doubled its previously reported first-quarter loss because of a write-down on three contracts in a bank-owned life insurance portfolio. more Market falls at open on oil, Fannie Mae 6 May 08, 09:43 ET Reuters - Stocks opened lower on Tuesday as oil prices near $120 kept pressure on consumers and energy-dependent industries, and as Fannie Mae reported a big loss. more Sara Lee 3Q profit rises on price increases, weaker dollar 6 May 08, 08:51 ET AP - Food and household products manufacturer Sara Lee Corp. said Tuesday its third-quarter profit doubled as higher sales prices and the weaker dollar's effect on international sales helped offset volatile commodity prices. more D.R. Horton posts quarterly loss 6 May 08, 08:41 ET Reuters - D.R. Horton Inc , the largest U.S. home builder, posted a large quarterly loss on Tuesday after a $834.1 million charge for the lower value of land and inventory of unsold homes and aggressive price cuts to move unsold homes. more Chrysler's Nardelli says company can meet job-cutting goals 6 May 08, 08:36 ET AP - Chrysler LLC Chairman and Executive Bob Nardelli said Monday the automaker should be able to meet its job-cutting goals without antagonizing the United Auto Workers. more S.Africa's MTN shares surge on Bharti bid talks 6 May 08, 08:31 ET Reuters - Shares in South African telecoms operator MTN Group jumped 10 percent on Tuesday after India's Bharti Airtel said it was considering a potential multi-billion dollar takeover. more Fannie Mae loses $2.2B in 1Q; warns of "severe weakness" 6 May 08, 08:14 ET AP - Fannie Mae said Tuesday it lost $2.2 billion in the first quarter as home-loan delinquencies mounted and home prices declined more sharply than the mortgage finance company had expected. more Will BofA Bail on Countrywide? 6 May 08, 08:08 ET BusinessWeek Online - Could Bank of America act like a troubled homeowner and hand the keys to Countrywide Financial back to the lender? That's the speculation on Wall Street as Countrywide shares fell 10.4%, to 5.36, on May 5. That's well below the $7-a-share price indicated when Bank of America agreed in January to buy the nation's largest mortgage company for $4.1 billion. more Will a Stranger Lend You $25,000? 6 May 08, 08:08 ET BusinessWeek Online - Chris Lindgren needed money. His textbook price comparison site, Direct Textbook, depends mainly on the referral fees it gets when college kids buy books through it. But this past August, the four-year-old business had already used up most of its cash on online advertising, with weeks of the back-to-school rush season still ahead. Lindgren wanted to buy more ads, but revenue from previous sales wouldn't come in for months. His profitable three-employee company had tapped out two lines of credit worth $60,000 from banks in Salem, Ore. ... more Homebuilders: Waiting for the Thaw 6 May 08, 08:08 ET BusinessWeek Online - With home prices continuing to drop and the pace of home sales slowing further, nobody has been looking for encouraging results from homebuilders. more Cutting Costs with Online Coupon Sites 6 May 08, 08:08 ET BusinessWeek Online - Coupons are making a comeback. In the face of rising food prices and a slowing economy, consumers are clipping coupons once again. Only, they don't need scissors and a local newspaper so much as a computer, printer, and maybe a mobile phone. more UBS reports 1Q net loss $11 billion 6 May 08, 07:48 ET AP - Swiss bank UBS, hard hit by the U.S. subprime crisis, reported a first-quarter loss of $10.97 billion and said Tuesday it will slash almost 7 percent of its work force. more Fannie Mae posts another loss, to cut dividend 6 May 08, 07:38 ET Reuters - Fannie Mae , the largest provider of U.S. home financing, on Tuesday reported its third straight quarterly loss as the U.S. housing crisis took another turn for the worse during the first quarter of 2008. more D.R. Horton swings to 2Q loss on impairment charges 6 May 08, 07:24 ET AP - D.R. Horton says it's swung to a loss for its fiscal second quarter, as a sustained housing slump forced the nation's largest homebuilder to take hefty charges to write down the value of its inventory. more NYSE Euronext profit triples on higher volumes 6 May 08, 07:06 ET AP - NYSE Euronext said Tuesday its profit more than tripled in the first quarter, reflecting the addition of Euronext NV's activities to those of the parent of the New York Stock Exchange last year and higher trading volumes. more Oil hits record $120.93 on fear of tight supply 6 May 08, 06:43 ET AP - Oil futures rose to an all-time high near $121 a barrel Tuesday with new concerns about a threat to supply and a weaker dollar. more Late cold snap puts a chill on California vineyards 6 May 08, 05:44 ET AP - April was a cruel month for California winemakers, bringing a series of unusually late frosts to vineyards baring the tender, green shoots of spring. more UBS to slash 5,500 jobs as it sells down subprime 6 May 08, 05:18 ET Reuters - UBS will cut 5,500 jobs in one the biggest purges seen so far in the financial markets crisis, as the Swiss wealth-management titan slashes at the investment bank that plunged it into turmoil. more Yahoo CEO says still open to Microsoft talks 6 May 08, 05:07 ET Reuters - Yahoo Inc chief Jerry Yang was set to meet staff on Tuesday after signaling a more open stance towards a takeover by Microsoft Corp. more Reinsurance group Swiss Re's first quarter profit falls 6 May 08, 04:42 ET AFP - Swiss Re, the world's largest reinsurance group, on Tuesday announced another dramatic fall in profit which it blamed on market turmoil and losses on its structured credit default swap portfolio. more U.S. crude oil sets new record above $120 a barrel 6 May 08, 04:11 ET Reuters - U.S. crude oil futures rose to a new record high for a second day on Tuesday, with crude oil futures for June delivery touching a record of $120.70 a barrel. more Pfizer drops glaucoma drug, NicOx shares slump 6 May 08, 03:30 ET Reuters - Pfizer has decided not to take NicOx's experimental glaucoma drug PF-03187207 into final Phase III tests after a mid-stage study failed to met its primary endpoint, sending NicOx shares tumbling. more Vodafone to distribute iPhones in 10 new countries 6 May 08, 03:14 ET AFP - British mobile phone giant Vodafone announced Tuesday that it will distribute Apple's wildly popular iPhone in 10 new countries including Australia, India and South Africa. more Adidas first-quarter net income jumps but Reebok weak 6 May 08, 03:12 ET Reuters - Cost cuts helped German sports goods maker Adidas's first-quarter net income rise by nearly a third but its Reebok brand continued to suffer because of weak prospects in the United States. more Webcom, Inc. Announces the General Availability of ResponsAbility 6 May 08, 03:01 ET PRWeb - Latest innovation addresses case management and workflow processing. more Male Circumcision Ineffective in HIV Battle According to New Future HIV Therapy Report 6 May 08, 03:01 ET PRWeb - Promoting male circumcision in Africa is risky and dangerous and could lead to more HIV infections, warns a new paper published today in the May issue of Future HIV Therapy. Promoting circumcision will drain millions, possibly billions, of dollars away from more effective prevention strategies, and cause tens of thousands of infections and other surgical complications. more UBS posts first quarter loss of 11.535 bln Swiss francs, cuts jobs 6 May 08, 02:13 ET AFP - Swiss banking giant UBS on Tuesday announced a net loss of 11.535 billion Swiss francs (7.075 billion euros/ 10.972 billion dollars) for the first quarter due to US subprime-related positions. more CORRECTION: UBS to cut headcount by 5,500 in subprime wake 6 May 08, 01:42 ET Reuters - (Corrects last paragraph to show bank had net new money inflows, not outflows, in the quarter) more Tropicana Entertainment files for Chapter 11 protection 6 May 08, 00:51 ET AP - The owner of Tropicana casinos in Atlantic City and Las Vegas filed for Chapter 11 bankruptcy protection Monday, nearly five months after New Jersey regulators stripped the Tropicana Casino and Resort of its license. more

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