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Oil companies agree to settle MTBE contamination lawsuits 7 May 08, 22:05 ET AP - At least two major oil companies said late Wednesday they have agreed to settle lawsuits over the use of the gasoline additive MTBE, a potential carcinogen that has been found in drinking water. more News Corp sees economy hurting advertising 7 May 08, 20:26 ET Reuters - Rupert Murdoch said on Wednesday stress in the U.S. economy is squeezing advertising budgets, adding that News Corp's (NWSa.N) Fox Interactive Media would miss an ambitious $1 billion annual revenue goal by 10 percent. more Inflation, rate fears push Wall St to lower close 7 May 08, 16:12 ET Reuters - U.S. stocks ended lower on Wednesday, with all three major indexes down more than 1 percent, on concerns about inflation and higher interest rates as oil jumped to a record above $123 a barrel. more Consumer borrowing unexpectedly surges in March 7 May 08, 15:18 ET AP - Consumer borrowing rose in March at the fastest pace in four months, more than double the increase of the previous month. more Fitch says GM and Ford face heavy cash drains this year 7 May 08, 15:05 ET Reuters - General Motors Corp and Ford Motor Co will continue to face heavy cash drains in 2008 and are expected to burn cash through 2009 unless industry sales rebound, Fitch Ratings said on Wednesday. more Oil surges to new highs, dealers focus on diesel 7 May 08, 14:24 ET Reuters - Oil prices rose more than a dollar Wednesday to over $123 a barrel, extending further into record territory as worries over tight world supplies of diesel outweighed a boost in U.S. crude stocks. more Microsoft sends out feelers to Facebook: WSJ 7 May 08, 13:42 ET Reuters - Microsoft Corp gauged Facebook's interest in a possible acquisition after the software giant's failed takeover attempt of Yahoo Inc , the Wall Street Journal reported on Wednesday. more Dr Pepper Snapple shares get tepid reception 7 May 08, 13:35 ET Reuters - Dr Pepper Snapple Group Inc shares began trading in New York on Wednesday at a lower-than-expected $25, showing that U.S. investors are hesitant to invest in the country's third-largest soft drink maker. more DCH, Inc. & Cantone Research, Inc. Agree to Purchase Number two Provider of Hotel Video, Internet 7 May 08, 12:55 ET PRWeb - The DCH Group & Cantone Research, Inc. have agreed to purchase SVI Media. The Company will be retooled and re-branded as Maximus Multimedia International and is preparing to aggressively pursue greater market share with new digital video-on-demand system. more As fuel prices rise, some speedometer needles fall 7 May 08, 12:41 ET AP - As other cars zipped by at 70 mph or more, Mike Papin and his wife, Joann, kept rolling along just below the 65 mph limit as they made their way from their winter home in Florida to a summer place in Vermont. more Stormy scenes at German shipping and tourism giant TUI 7 May 08, 12:22 ET AFP - A shareholders' meeting of Germany's TUI turned into a stormy affair on Wednesday as a Norwegian billionaire sought to chart a new course for the shipping and tourism giant. more Pending homes sales fall, productivity up 7 May 08, 11:36 ET Reuters - Contracts to buy previously owned U.S. homes hit an all-time low in March and businesses braced for tough times by squeezing more out of their workers in the first quarter, data released on Wednesday showed. more NAR: US pending home sales drop to new low in March 7 May 08, 11:22 ET AP - An industry group said Wednesday that pending U.S. home sales dropped to a new low in March, signaling the housing slump has yet to bottom out even as the spring sell season gets under way. more Global Piracy Rampant -- But You Can Fight Back 7 May 08, 10:26 ET NewsFactor - Piracy is running rampant, according to a report from the U.S. government. Not the kind of pirates with eye patches and parrots on their shoulders, but rather the kind that downloads content illegally from the Internet, counterfeits products, and generally hijacks the profits of pharmaceuticals, electronics, software, and other goods. China and Russia were singled out in particular for their weak protections of intellectual property rights (IPR). more Stocks down after home sales, labor cost data 7 May 08, 10:13 ET AP - The stock market traded lower Wednesday, as investors reacted to mixed economic data and waited to see if oil prices will climb further into uncharted territory. more March pending homes sales down 1 percent 7 May 08, 10:06 ET Reuters - Pending sales of previously owned homes fell 1 percent in March, as expected, as turmoil in the housing and mortgage markets continued, a real estate trade group report on Wednesday showed. more DirecTV profit rises 10 pct on demand for high-def service 7 May 08, 09:54 ET AP - Satellite television company DirecTV said Wednesday its first-quarter earnings rose 10.4 percent, as it acquired more subscribers in the U.S. and Latin America and customers spent more on high-definition and video recording services. more Consumers mark tax rebates for bills, savings 7 May 08, 09:35 ET Reuters - The first batch of taxpayers has already started to receive their federal tax rebates as part of the economic stimulus package, but very few consumers interviewed by Reuters in the past week said they plan to spend them on anything other than necessities. more Fed to teach groups how to buy foreclosed homes 7 May 08, 09:28 ET Reuters - Federal Reserve Board Governor Randall Kroszner said on Wednesday that the Fed would work with a national affordable housing group to help stabilize neighborhoods with high foreclosure rates. more Worker productivity up at 2.2 percent rate in first quarter 7 May 08, 08:54 ET AP - Worker productivity rose by a better-than-expected amount in the first three months of the year while labor cost pressures eased. more Merrill's Thain: Credit crisis easing 7 May 08, 08:51 ET Reuters - The U.S. credit crisis is easing and the risk in its housing market is dramatically lower now, but economic growth will remain under pressure over the next year, the chief executive of Merrill Lynch & Co Inc said. more Sprint, Clearwire form $14.5 billion WiMax venture 7 May 08, 08:50 ET Reuters - Sprint Nextel Corp and Clearwire Corp are planning a $14.5 billion venture to build a wireless high-speed Internet network based on the emerging WiMax technology. more Marsh & McLennan posts loss on Kroll write-down 7 May 08, 08:30 ET Reuters - Marsh & McLennan Cos , which runs one of the world's largest insurance brokerages, on Wednesday posted a first-quarter loss, as it wrote down the value of its Kroll risk consulting and technology unit. more "Grand Theft Auto" first week sales top $500 million 7 May 08, 08:15 ET Reuters - Take-Two Interactive Software Inc scored more than $500 million in global sales of criminal action game "Grand Theft Auto 4" in its first week, marking what it said on Wednesday is one of the most lucrative entertainment events in history. more Fannie Mae Soothes the Street 7 May 08, 08:08 ET BusinessWeek Online - Fannie Mae's worse-than-expected first-quarter loss, reported on May 6, shouldn't come as a surprise to anyone who has followed the news of continuing declines in home prices across the U.S. more Futures flat after Cisco, Disney; oil eyed 7 May 08, 07:52 ET Reuters - Stock index futures were little changed on Wednesday after higher-than-expected earnings from Walt Disney Co and Cisco Systems Inc was offset by oil at near-record highs, keeping investors on edge. more Clearwire, Sprint Nextel to form wireless company 7 May 08, 07:33 ET AP - Clearwire and Sprint Nextel are planning to merge their wireless broadband units to create a new $14.55 billion wireless communications company. more Company floats ads in 'clouds' shaped like corporate logos 7 May 08, 07:31 ET AP - Picture the Manhattan skyline filled with Nike swooshes. Or the golden arches of McDonald's gently drifting over Los Angeles. more DirecTV posts higher profit 7 May 08, 07:10 ET Reuters - U.S. satellite television service provider DirecTV Group Inc posted a higher quarterly profit on Wednesday as it added more subscribers than expected. more Ford says it's doubling fuel-efficient 6-speed transmissions 7 May 08, 06:55 ET AP - Ford Motor Co. said Wednesday it plans to greatly increase the use of more fuel-efficient six-speed automatic transmissions, doubling their number by the end of next year and putting them in 98 percent of its North American vehicles by 2012. more European stock markets rise on coat-tails of Wall Street 7 May 08, 06:54 ET AFP - Europe's main stock markets rallied on Wednesday as dealers took their cue from Wall Street gains and digested a fresh batch of positive earnings news. more Oil steady above $122 a barrel after record 7 May 08, 06:34 ET AP - Oil prices steadied Wednesday after hitting a record near $123 a barrel in the previous day's session on worries over supply disruptions. more Microsoft's Gates plays down prospects of fresh Yahoo bid 7 May 08, 06:31 ET AFP - Microsoft chairman Bill Gates on Wednesday played down the chances of a fresh takeover bid for Yahoo, saying the US software giant would focus on an independent strategy. more UBS top employee detained in U.S. tax probe 7 May 08, 05:09 ET Reuters - A senior UBS employee was briefly detained by U.S. authorities in April as part of an investigation into the bank's cross-border business, UBS said on Wednesday. more Citi to form alternative asset group: report 7 May 08, 04:58 ET Reuters - Citigroup Inc is forming an "alternative asset group" within its investment bank to cater to private equity and infrastructure funds, combining two of its units, the Wall Street Journal said, citing an internal bank memo. more BT launches Blackberry-style device with broadband 7 May 08, 03:37 ET Reuters - BT Group signaled its return to the mobile market on Wednesday by launching a Blackberry-style smart-phone as part of its broadband deal for users to surf the Web and make calls when not at home. more The Media is Having a Hand at Derailing Barack Obama According to Analysts at USAElectionPolls.com 7 May 08, 03:01 ET PRWeb - USAElectionPolls.com is a website that analyzes and monitors the polling agencies and they have concluded that the media has taken Barack Obama off his perch. more WebMovieNow Launches High-Quality Video-on-Demand Service Powered by DivX® 7 May 08, 03:01 ET PRWeb - Cross-platform solution lets users download secure content on Mac and Windows operating systems and playback on DivX Certified® devices. more Fed seeks approval to pay interest on reserves: report 7 May 08, 02:26 ET Reuters - The U.S. Federal Reserve, led by Chairman Ben Bernanke, is formally asking Congress for authority to pay interest on commercial bank reserves starting this year, the Wall Street Journal reported on Wednesday. more Toyota raising prices on some models in US this month 7 May 08, 00:55 ET AP - Toyota Motor Corp., the world's second-biggest automaker by annual vehicle sales, is raising its prices on some U.S. models later this month amid increased worries about its profit growth in the American market. more

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