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Business News: Most Emailed
Last update: 216 days, 5 hours ago
 
Alliance Data ends $6.76 bln deal with Blackstone
18 Apr 08, 22:14 ET
Reuters - Alliance Data Systems Corp said on Friday it terminated a $6.76 billion sale to Blackstone Group LP affiliates and has sued to win a $170 million business interruption payment.
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Canada says chemical in hard plastic bottles may be unsafe
18 Apr 08, 21:54 ET
AP - An ubiquitous chemical found in hard plastic water bottles, DVDs, CDs and hundreds of other common items came under increased pressure Friday when Canada said it's potentially harmful and may ban its use in baby bottles.
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Sears says credit pact with Bank of America to end
18 Apr 08, 21:39 ET
Reuters - Retailer Sears Holdings Corp said on Friday a credit agreement with Bank of America Corp would come to an end after the bank would not agree to renew it under existing terms.
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Earnings remain key as Dow nears turnaround
18 Apr 08, 21:09 ET
Reuters - Investors will have seen enough corporate results by the end of next week to determine if the recent string of encouraging earnings was an anomaly or a real sign stocks can weather the credit crisis and economic slowdown.
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AT&T to cut about 4,600 jobs, take charge
18 Apr 08, 20:16 ET
Reuters - AT Inc said on Friday it would cut its work force by 1.5 percent, about 4,600 jobs, primarily affecting management-level employees, resulting in a first-quarter pre-tax charge of $374 million.
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Ford weighs third China plant to meet demand
18 Apr 08, 19:25 ET
Reuters - Ford Motor Co may build a third assembly plant in China to meet fast-growing demand for its cars just five years into its push into the booming Chinese market, a senior executive said.
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Turning around companies in crisis
18 Apr 08, 18:33 ET
Reuters - "The Turnaround Kid" was advertised by publisher HarperCollins as an inside account of the corporate turnarounds that author Steve Miller has been involved in as one of corporate America's "fix-it" men.
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Treasury bond market at a glance
18 Apr 08, 17:59 ET
AP - Key barometers in the Treasury market at 5:15 p.m. EDT Friday compared with late Thursday. The price changes in the 10-year note and 30-year bond are per $1,000 invested.
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Regulator settles with ex-Fannie Mae execs
18 Apr 08, 16:44 ET
Reuters - Ex-Fannie Mae chief Franklin Raines and two other former executives agreed to pay more than $31 million in a settlement over their roles in a 2004 accounting scandal at America's largest home financing agency, its regulator said on Friday.
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PayPal Plans To Block Older, Unsafe Browsers
18 Apr 08, 16:37 ET
NewsFactor - The name PayPal is almost synonymous with phishing scams. According to anti-phishing service PhishTank statistics from last year, PayPal was the number-one target of scams -- more than twice as often as PayPal's parent, eBay, the second most popular target.
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Customers Really Are the Lifeblood of Your Business
18 Apr 08, 16:10 ET
NewsFactor - It is a mistake to think that because a customer has expressed dissatisfaction with your product or service they will not come back to you.
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Oil hits 117 dollars on talk of Nigeria pipeline attack
18 Apr 08, 15:49 ET
AFP - Oil prices rebounded to a new record high of 117 dollars a barrel here Friday as traders refocused on supply fears after talk of a pipeline attack in Nigeria, Africa's largest oil producer.
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How do share prices react to cash calls?
18 Apr 08, 15:40 ET
FT.com - Even before Royal Bank of Scotland, Britain's second-biggest bank, admitted it was considering a cash call to shore up its creaking balance sheet, strategists had been predicting the return of the rights issue.
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Oil hits new record $117 a barrel
18 Apr 08, 15:38 ET
Reuters - Oil prices hit a record high $117 a barrel Friday as jitters over Nigerian oil supplies outweighed a rally in the dollar and fears of an economic slowdown in giant energy consumer China.
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Wall St. braces for thousands of pink slips
18 Apr 08, 15:37 ET
Reuters - Citigroup Inc , Merrill Lynch & Co and Wachovia Corp this week announced 12,400 job cuts, and the number of pink slips is likely to rise as losses mount and the economy works its way out of its malaise.
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Fed officials cool on need for rate cuts
18 Apr 08, 14:50 ET
Reuters - Federal Reserve officials continued to hint on Friday that they are reluctant to cut interest rate further as the sluggish U.S. economy also faces a threat from inflation.
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Canada says chemical in plastic water bottles is unsafe
18 Apr 08, 14:43 ET
AP - An ubiquitous chemical found in hard plastic water bottles, DVDs, CDs and hundreds of other common items came under increased pressure Friday when Canada labeled it dangerous and said it may ban its use in baby bottles.
more

UAW threatens strike at Chevrolet Malibu plant
18 Apr 08, 14:19 ET
AP - General Motors Corp. dodged one strike at a key factory on Friday, but the United Auto Workers threatened to walk out at the main plant that builds the hot-selling Chevrolet Malibu.
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Economy to curb growth at phone companies
18 Apr 08, 13:52 ET
Reuters - A weaker economy is forcing consumers to find ways to lower their telephone bills, likely limiting profit growth for phone companies like AT Inc and Verizon Communications Inc .
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Fed should wield "baseball bat" over banks: PIMCO
18 Apr 08, 13:05 ET
Reuters - The Federal Reserve should threaten banks to make them raise more capital as a step toward restoring faith in credit markets, central bank policy-makers were urged on Friday.
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Spain announces 18-billion-euro economic stimulus plan
18 Apr 08, 12:40 ET
AFP - Spain's newly re-elected government Friday announced an 18-billion-euro plan to revive the economy, which is suffering a slowdown after a decade-long boom that had been the envy of the rest of Europe.
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AT&T Adds Table-Like Information Center to Stores
18 Apr 08, 11:46 ET
NewsFactor - As part of its effort to recast itself as an innovative retailer, AT is putting its cell-phone business on the table -- Microsoft's Surface table, to be exact.
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The Wal-Mart Sisterhood
18 Apr 08, 11:25 ET
BusinessWeek Online - It's a sunny morning in early April, and as she does every week, Lisa Lobb has driven 15 miles to load up on groceries at the Wal-Mart Supercenter outside of Bethlehem, Pa. Sure, there are plenty of stores closer to home, but with rising gas and food costs gobbling up ever more of her budget, the 36-year-old mother of four makes the drive for Wal-Mart (NYSE:WMT - News; NYSE:WMT - News) Stores' low prices.$tx
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It's Spring. Ready to Buy a Home Yet?
18 Apr 08, 11:25 ET
BusinessWeek Online - The spring home-buying season is upon us. In small towns and big cities alike, "Open House" and "For Sale" signs are sprouting like crocuses. But it will take more than pleasant weather to thaw the ice-cold real estate market.
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On Wall St: Spring's shoots of hope face bitter wind
18 Apr 08, 11:15 ET
FT.com - Spring finally arrived in New York this week, and the sunny mood transcended another round of big banking writedowns and higher loan loss provisions.
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Global sales pump up Caterpillar 1Q profits 13 percent
18 Apr 08, 11:06 ET
AP - Heavy equipment maker Caterpillar Inc. said Friday that demand for its global mining and energy products pushed first-quarter earnings up 13 percent, far surpassing Wall Street estimates. Its stock surged.
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AT&T to cut about 4,600 jobs, sees $374 million 1Q charge
18 Apr 08, 10:58 ET
AP - AT Inc. on Friday said it plans to cut about 4,600 jobs, or 1.5 percent of its work force, to shift resources to growing parts of its business.
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Xerox swings to 1Q loss on litigation charge
18 Apr 08, 10:33 ET
AP - Xerox Corp. said Friday a litigation charge left it with a loss of $244 million in the first quarter, but its results excluding the one-time item matched Wall Street expectations.
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SafeCentral's Virtual Bunker Foils ID Thieves
18 Apr 08, 10:26 ET
NewsFactor - What's the difference between identity theft and identity fraud? In the first case, identifiers such as your credit card information and Social Security number are stolen. In the latter case, they are being misused by the bad guys. If you could prevent the first instance, you wouldn't have to worry much about online fraud.
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Wall Street gains as investors weigh Citi, Google results
18 Apr 08, 10:22 ET
AP - Wall Street jumped Friday as results from companies like Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits.
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Talbots affirms outlook; sees sufficient funding
18 Apr 08, 10:19 ET
Reuters - Talbots Inc affirmed its 2008 outlook on Friday and said meeting that goal would give it sufficient funding to continue turning around its business.
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AT&T to axe 4,600 jobs
18 Apr 08, 10:11 ET
Reuters - AT Inc said on Friday it would cut its work force by 1.5 percent, or 4,600 jobs, primarily affecting management-level employees, resulting in a first-quarter pre-tax charge of $374 million.
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Bad weather drags on Schlumberger 1Q, but profit up 14 pct
18 Apr 08, 09:43 ET
AP - Schlumberger Ltd. said Friday its first-quarter net income rose nearly 14 percent from a year ago, but the oilfield services provider missed the Wall Street forecast.
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Stocks set to rise on Citigroup, earnings
18 Apr 08, 09:24 ET
Reuters - Stocks looked set to open higher on Friday after quarterly results from Citigroup Inc gave investors hope the credit crisis was nearing an end, while major manufacturers showed signs of weathering the economic slump.
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RBS seeks cash amid credit crunch, ABN takeover: report
18 Apr 08, 09:07 ET
AFP - The Royal Bank of Scotland was set to ask shareholders for a massive cash boost after being hit by subprime-linked losses and surging costs related to its ABN Amro takeover, reports said Friday.
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Citigroup posts $5.1 billion loss
18 Apr 08, 08:34 ET
Reuters - Citigroup Inc , the largest U.S. bank, posted its second straight quarterly loss on Friday, hurt by more than $16 billion in write-downs and increased costs related to credit losses.
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Citigroup reports $5.1 billion loss on hefty write-downs
18 Apr 08, 08:19 ET
AP - Citigroup Inc. lost $5.1 billion during the first quarter as poor bets on mortgages and leveraged loans lopped billions of dollars from its investment portfolio.
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Hide the Doritos! Here Comes HR
18 Apr 08, 08:08 ET
BusinessWeek Online - The lawyers at the boutique law firm Littler Mendelson have always liked their carbs. For years the firm's sumptuous San Francisco headquarters overflowed with endless trays of Krispy Kremes, gooey sweet rolls, and gigantic muffins. Then one day the attorneys showed up for a firm breakfast and found...hard-boiled eggs, yogurt, mini quiches, cottage cheese, and fresh fruit. "Where's the donuts?" ranted the associates.
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Caterpillar net boosted by international sales
18 Apr 08, 08:06 ET
Reuters - Caterpillar Inc reported stronger-than-expected quarterly profit on Friday as strong international sales offset what the company characterized as a "recessionary storm in the United States."
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Honeywell Int'l 1Q profit rises on increased revenue
18 Apr 08, 07:50 ET
AP - Diversified manufacturer Honeywell International Inc. on Friday reported that first-quarter profit rose 22 percent on higher sales, and contracts from Embraer, Gulfstream and Airbus.
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RBS planning rights issue next week: source
18 Apr 08, 07:16 ET
Reuters - Royal Bank of Scotland is set to announce a rights issue next week, an industry source said on Friday, in a move which analysts believe could raise over $20 billion and lead to similar action by other UK banks.
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Executives see credit and housing as big threats
18 Apr 08, 07:09 ET
AP - Turmoil in credit and housing markets will be the most significant threat to growth this year, according to a survey of top financial company executives released Friday.
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China: Prices of farm goods, housing costs rise
18 Apr 08, 07:01 ET
AP - China issued more gloomy inflation news Friday, saying prices of farm goods jumped 25.5 percent in the first quarter and housing costs rose 11 percent in March despite efforts to damp price rises that are battering ordinary Chinese.
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GM eyes low-cost, small cars for China
18 Apr 08, 06:28 ET
Reuters - General Motors Corp will need to offer small vehicles at very low prices to reach first-time car buyers in China and hit the fastest-growing segment of the industry's biggest boom market, a senior executive said on Friday.
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France to double aid for food crisis
18 Apr 08, 05:57 ET
AFP - France will double its emergency food aid this year, spending 60 million euros (100 million dollars), President Nicolas Sarkozy said Friday, as he warned the world's food crisis was breeding unrest.
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Wilbur Ross plans to raise $4 billion to buy banks: report
18 Apr 08, 05:30 ET
Reuters - Billionaire investor Wilbur Ross is looking to raise $4 billion to buy troubled banks and is hoping investors in the Middle East will join him, according to a report on Fox Business News.
more

Teens turn to thrift as jobs vanish and prices rise
18 Apr 08, 05:08 ET
AP - The souring job market and rising costs of the usual teenage indulgences - a slice of pizza, a drive to the mall, the hottest new jeans - are causing teens to do something they rarely do: be thrifty.
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Merrill Lynch posts steep first-quarter loss on write-downs
18 Apr 08, 04:54 ET
AP - Merrill Lynch & Co., the world's largest brokerage, on Thursday said it would cut another 3,000 jobs after more than $6.5 billion of fresh write-downs pushed it to a loss for the first quarter.
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German producer prices jump 4.2 percent in March: Destatis
18 Apr 08, 03:18 ET
AFP - German inflation looks set to remain at high levels after Europe's biggest economy reported Friday a 4.2 percent jump in wholesale prices that suggested eurozone interest rates will stay on hold for much of this year.
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New Independent Presidential Candidate Hopes to Redefine Political Landscape
18 Apr 08, 03:01 ET
PRWeb - Jonathan Allen, 45, has announced the formal launch of his campaign as a new, independent candidate for president of the United States.
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China Eastern Airlines' shares sink on fine
18 Apr 08, 01:36 ET
AP - China Eastern Airlines saw its share price sink 6.8 percent early Friday after the Civil Aviation Administration announced it was fining the company for an incident in which its pilots intentionally disrupted flights, inconveniencing hundreds of passengers.
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Oil prices stay near $115 a barrel after hitting record
18 Apr 08, 01:19 ET
AP - Oil prices held near a record above $115 a barrel Friday amid concerns about falling supplies and rising global demand.
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