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Business News: Most Emailed
Last update: 258 days, 12 hours ago
 
Yahoo overshadows Microsoft earnings, forecast
22 Apr 08, 22:02 ET
Reuters - Microsoft Corp is expected to provide a first glimpse at its projections for its coming year, but news of any progress on a possible deal with Yahoo Inc could overshadow even an upbeat outlook.
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Films said to be getting work guarantees from actors guild
22 Apr 08, 21:33 ET
AP - The Screen Actors Guild has reached separate deals that will allow the completion of 95 independent movie productions if actors go on strike, a person with the union said Tuesday.
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Government to release proposed fuel economy rules
22 Apr 08, 20:31 ET
AP - The next generation of new cars and trucks will need to meet a fleet average of 31.6 miles per gallon by 2015, the Bush administration proposed Tuesday, seeking more fuel-efficient vehicles in the face of high gasoline prices and concerns over global warming.
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Existing home sales fall in March
22 Apr 08, 20:11 ET
AP - Sales of existing homes fell in March, the seventh drop in the past eight months, as the spring sales season got off to a rocky start.
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UAW threatens GM strike at Ohio stamping plant
22 Apr 08, 19:37 ET
Reuters - General Motors Corp , whose production of the hot-selling Malibu sedan could be disrupted by a strike this week, now faces a possible United Auto Workers strike at an Ohio stamping plant next week.
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Merrill, other banks tap debt markets after losses
22 Apr 08, 19:02 ET
Reuters - Investment banks including Merrill Lynch & Co , UBS and Wachovia Corp sold more than $13 billion in new debt on Tuesday in a move to shore up their balance sheets.
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Yum's China growth pushes 1st-qtr profit up
22 Apr 08, 18:16 ET
Reuters - Yum Brands Inc, operator of the KFC, Taco Bell and Pizza Hut fast-food chains, posted a bigger-than-expected jump in quarterly profit on Tuesday, fueled by growth in China, and raised its full-year forecast.
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Stocks decline as oil rises, Street examines earnings
22 Apr 08, 17:40 ET
AP - Wall Street pulled back Tuesday, with the Dow Jones industrials tumbling more than 100 points as a rush of quarterly results from bellwethers like AT Inc., DuPont and McDonald's Corp. failed to impress investors. Oil prices also reached fresh highs, raising concerns about inflation.
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Alaska rejects final Exxon plan for giant gas field
22 Apr 08, 17:39 ET
Reuters - Alaska on Tuesday rejected Exxon Mobil Corp's latest plan for the giant Point Thomson natural gas field on the North Slope despite warnings from the industry that the move that will deal another lengthy setback to the development of an Alaska gas pipeline.
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Surging oil, disappointing outlooks hit Wall St.
22 Apr 08, 17:37 ET
Reuters - Stocks sank on Tuesday as oil prices neared $120 a barrel and fed worries about inflation and consumer spending, while a series of disappointing profit outlooks made the mood even worse.
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Yahoo 1Q profit jumps to top analyst view on sales growth
22 Apr 08, 16:53 ET
AP - Yahoo's first-quarter earnings more than tripled, helped by rising marketing services revenue, to beat analyst estimates.
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Sony Again Delays PS3 Home Online Community
22 Apr 08, 16:46 ET
NewsFactor - The launch of Sony's Home 3D online community for the PlayStation 3 is being delayed again, this time until autumn. Last year, Home was also pushed back, with a now-postponed launch set for early in 2008. As with last year's delay, Sony executives said the reason is to improve the quality of service.
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Bakers feeling pinch of short supplies
22 Apr 08, 16:44 ET
Reuters - Already feeling the pinch from soaring wheat and flour prices, U.S. bakers are now beginning to experience some supply shortages.
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The 12 Golden Principles of Selling
22 Apr 08, 16:19 ET
NewsFactor - I received a call from an ex-student this week who is designing an induction program for new recruits about to embark upon a career in sales. He asked that if I had to create the "12 golden principles of selling," what would I come up with?
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Wall Street Journal managing editor quits
22 Apr 08, 14:40 ET
Reuters - The Wall Street Journal's managing editor is resigning, Dow Jones & Co Inc said on Tuesday, setting the stage for News Corp (NWSa.N) chief Rupert Murdoch to further consolidate his power in the business paper's newsroom.
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Ten Community Colleges Select Jenzabar’s Total Campus Management™ Solutions
22 Apr 08, 14:16 ET
PRWeb - Jenzabar, Inc. announced today that ten community colleges have selected Jenzabar’s Total Campus Management (TCM) solutions, fully-integrated systems that support administrative offices across the campus.
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Coach posts higher profit
22 Apr 08, 14:05 ET
Reuters - Handbag maker Coach Inc posted a higher quarterly profit on Tuesday that topped Wall Street's estimate by a penny, helped by higher sales at stores in North America and Japan.
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IEF expresses 'concern' over high oil prices
22 Apr 08, 13:48 ET
AFP - Ministers from 74 countries attending the International Energy Forum here expressed "concern" Tuesday at high oil prices, which topped a record 119 dollars.
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Dollar hit by US housing woes, plunges to record low vs euro
22 Apr 08, 13:15 ET
AFP - The dollar plunged to a record low Tuesday against the euro, which broke through the 1.60-dollar barrier, as the unit was hit by dismal US housing news and fresh fears over the health of the US economy.
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Oil must stay high if world to have enough supply
22 Apr 08, 12:34 ET
Reuters - Energy producers cannot halt a rally that has driven oil to nearly $120 a barrel and the world might have to live with even higher prices if it wants supplies for the future, exporters said on Tuesday.
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Soaring fuel costs pummel airline stocks
22 Apr 08, 11:37 ET
Reuters - Record high fuel prices led three U.S. airlines to report hefty quarterly losses on Tuesday, with UAL Corp , parent of United Airlines, posting its largest loss since it completed a Chapter 11 restructuring two years ago, sending airline shares plunging.
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Dollar slumps to new record low versus euro
22 Apr 08, 11:36 ET
AP - The euro roared to another record high Tuesday, briefly crossing $1.60 in late afternoon trading in Europe after a pair of European Central Bank governors said high inflation may cause the bank to raise interest rates.
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Existing home sales fall 2 percent
22 Apr 08, 11:30 ET
Reuters - The pace of U.S. existing home sales fell in March while inventories swelled and prices slid, a trade group said on Tuesday in a report that showed the U.S. housing market continues to struggle.
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Boeing CEO admits 787 Dreamliner errors
22 Apr 08, 11:23 ET
Reuters - Boeing Co's chief executive has admitted that the company's ambitious plan to outsource most of the production of its new 787 Dreamliner jet has not been completely successful and could lead to a re-evaluation for future programs.
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Alitalia flies into unknown as bankruptcy looms
22 Apr 08, 11:05 ET
AFP - Alitalia flew into the unknown on Tuesday after Air France-KLM withdrew its takeover offer, leaving Italy's long-struggling flag carrier with little choice but to contemplate bankruptcy or receivership.
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The worst is over for stocks: S&P's Stovall
22 Apr 08, 11:04 ET
Reuters - Stocks have seen the worst of the declines and are poised to head higher boosted by a spate of interest rate cuts by the Federal Reserve and spending linked to the government's economic stimulus package, a leading equity strategist said on Tuesday.
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Turn Your Smartphone into a Wi-Fi Hot Spot
22 Apr 08, 10:23 ET
NewsFactor - If you've always wished you could carry a wireless hot spot with you and have access to the Internet wherever you had mobile coverage, TapRoot Systems is ready to make your wish a reality. The company, which creates software for smartphones, announced that it is letting Wi-Fi-enabled smartphone users try its WalkingHotSpot solution for free.
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McDonald's 1Q profit rises on strong international sales
22 Apr 08, 10:14 ET
AP - McDonald's Corp. said Tuesday that its first-quarter profit rose 24 percent as the fast food company benefited from the weak U.S. dollar and strong global sales.
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Yahoo results won't affect value for Microsoft: Ballmer
22 Apr 08, 09:42 ET
Reuters - Yahoo's results due later on Tuesday will not affect the company's value to Microsoft , which has offered to buy it for $44.6 billion, Microsoft Chief Executive Steve Ballmer said.
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Inspectorate Selects SunGard’s AvantGard for Receivables Management
22 Apr 08, 09:19 ET
PRWeb - AvantGard Chosen to Help Automate and Streamline Order-to-Cash Cycle.
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United Airlines parent loses $537 million in 1Q, makes cuts
22 Apr 08, 09:12 ET
AP - United Airlines parent UAL Corp. reported a $537 million first-quarter loss Tuesday due to soaring fuel costs and said it is cutting flights and 1,100 jobs as it streamlines during an "extraordinarily difficult" environment for airlines.
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Soaring fuel costs hurt UAL profit
22 Apr 08, 08:41 ET
Reuters - UAL Corp , parent of United Airlines, said on Tuesday its quarterly net loss more than tripled on soaring fuel costs, and the company announced a new cost savings target and job cuts to offset that expense.
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AT&T profit rises on wireless sales
22 Apr 08, 08:15 ET
Reuters - Top U.S. phone company AT Inc on Tuesday reported a rise in quarterly profit led by strong growth in its wireless business, although traditional phone subscriptions fell.
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The Turmoil from High Commodity Prices
22 Apr 08, 08:08 ET
BusinessWeek Online - In the world of higher commodity prices, corporate winners and losers fall into two distinct camps. Commodity producers are big beneficiaries, their business outlooks generally strong and their ratings stable, as scarcity and worldwide demand affect everything from corn to copper. But companies that rely heavily on grain, oil, or other commodities to make finished goods face increasing costs and thus weaker profits if the slowing U.S. economy makes raising prices more difficult.
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Taking Advantage of a Down Market
22 Apr 08, 08:08 ET
BusinessWeek Online - The U.S. has officially entered a recession. What's the best thing to do when times get tough? Hunker down, right? Wrong. I spent the last five years studying the financial performance of more than 7,000 growth companies over a 22-year period for my recent book, The Breakthrough Company (BusinessWeek.com, 1/14/08). I learned that companies that achieve breakthrough performance don't batten down the hatches during tough times -- they look for the opportunities that tough times inevitably bring. ...
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Oil: How High from Here?
22 Apr 08, 08:08 ET
BusinessWeek Online - The news from the trading pits is, well, no news at all: Oil prices are again breaking records. On Apr. 21, the price of a barrel of the benchmark West Texas Intermediate crude for May delivery hit $117.76 on the New York Mercantile Exchange -- an all-time high -- before settling at $117.46. Oil prices are up 23% so far this year, and 16% in April alone.
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Kimberly-Clark 1Q profit falls 3 percent on charges, costs
22 Apr 08, 08:00 ET
AP - Kimberly-Clark says its profit fell 3 percent in its first quarter due mainly to charges and higher costs.
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AT&T 1Q profit up 22 percent on strong wireless growth
22 Apr 08, 07:55 ET
AP - AT says its first-quarter earnings rose 22 percent as its wireless division saw continued strong growth and the enterprise services division reversed a declining trend.
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CIT sells $1.5 billion of stock
22 Apr 08, 07:45 ET
Reuters - CIT Group Inc , a commercial finance company trying to raise cash amid the global credit crisis, on Tuesday said it sold $1.5 billion of common stock and convertible preferred stock, 50 percent more than planned, in offerings that dilute existing shareholders.
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RBS unveils rights issue after fresh hit
22 Apr 08, 07:32 ET
Reuters - Royal Bank of Scotland unveiled a record 12 billion pound ($24 billion) rights issue to cover a potential 5.9 billion pound writedown on the value of toxic assets and help rebuild a stretched balance sheet.
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Oil hits new record above $118 a barrel
22 Apr 08, 07:20 ET
Reuters - Oil rose to a record high above $118 on Tuesday, boosted by a jump in oil demand last month from China, the world's second biggest energy consumer, and worries about supply from key producers Russia and Nigeria.
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London summit to tackle food price 'tsunami'
22 Apr 08, 07:10 ET
AFP - The UN food agency said the world faced a "silent tsunami" of soaring food prices ahead of a summit here Tuesday aimed at developing a plan to tackle a potential hunger crisis.
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DuPont first-quarter profit climbs
22 Apr 08, 06:26 ET
Reuters - Chemical company DuPont Co said on Tuesday that first-quarter earnings rose, spurred by strong results from its agricultural business.
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RBS exposure: another $11.7B in losses tied to mortgages
22 Apr 08, 06:20 ET
AP - Royal Bank of Scotland said Tuesday it had suffered $11.7 billion in additional losses and was forced to raise $23.9 billion in new capital to cover exposure to toxic U.S. loans.
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Oil prices hit 118 dollars for first time
22 Apr 08, 05:30 ET
AFP - The price of New York crude oil surged past 118 dollars per barrel for the first time on Tuesday, lifted by unrest in key producer Nigeria and the weak dollar, traders said.
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Asian markets hunker down, fear more bank pain
22 Apr 08, 03:34 ET
Reuters - Asian shares fell on Tuesday as investors flinched at more bad news from the banking sector while fears of fresh dollar weakness hurt exporters and kept oil within sight of its latest record of nearly $118 a barrel.
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IBG Teleconference: European Union Considerations for e-Passports, Biometrics, and Border Control Programs
22 Apr 08, 03:01 ET
PRWeb - International Biometric Group (IBG) is pleased to announce its upcoming teleconference: European Union Considerations for e-Passports, Biometrics, and Border Control Programs to be held Thursday, April 24th, at 9am ET/3pm BST, which will outline requirements, specifications, and legalities EU Member States should consider when developing e-Passport, biometrics, and border control systems.
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Intrepid Potash IPO raises $960 million
22 Apr 08, 01:32 ET
Reuters - Intrepid Potash Inc, a producer of crop nutrients, on Monday raised $960 million with an initial public offering of shares that priced above expectations.
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With gas hitting record highs, drivers feeling squeezed
22 Apr 08, 00:38 ET
AP - Cabbies here complain their take-home pay is thinner than it used to be. Trucking companies across the country are making drivers slow down to conserve fuel. Filling station owners plead that really, really, the skyrocketing prices aren't their fault.
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Oil steadies near overnight record
22 Apr 08, 00:14 ET
AP - Oil prices steadied Tuesday in Asia near the previous session's record close above $117 a barrel, supported by concerns about instability in crude supplies from some producers.
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