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Fewer latte runs sends Starbucks 2Q profit down 28 percent 30 Apr 08, 20:29 ET AP - Starbucks Corp. said Wednesday its fiscal second-quarter profit fell 28 percent as U.S. consumers responded to rising food and gas prices by making fewer latte runs. more Fed cuts rates as economy slumps, hoping to stop recession 30 Apr 08, 20:28 ET AP - Scrambling to shore up the faltering economy, the Federal Reserve cut interest rates to the lowest point in nearly four years Wednesday as the nation teetered on the edge of recession. more Costs, weaker economy drive Las Vegas Sands to 1Q net loss 30 Apr 08, 20:27 ET AP - Las Vegas Sands Corp. said Wednesday it lost $11.2 million in the first quarter as resort construction costs escalated, the U.S. economy weakened and competition intensified in the Chinese gambling enclave of Macau. more Starbucks to slash U.S. store openings through 2011 30 Apr 08, 20:15 ET Reuters - Starbucks Corp said on Wednesday it would slash U.S. coffee store openings through 2011 as it adjusts to slower U.S. growth and turns its focus to expanding newer international markets. more Citi offering signals more trouble ahead: analysts 30 Apr 08, 18:59 ET Reuters - Investors fear that Citigroup Inc's sale of $4.5 billion of shares, combined with a $6 billion preferred stock sale last week, signal the bank is likely to face more write-downs in the future and may need to raise even more capital. more Treasury's Paulson says supports Fed rate cuts 30 Apr 08, 18:25 ET Reuters - Treasury Secretary Henry Paulson said he was supportive of the Federal Reserve's interest rate cuts, adding he believes the weak economy will recover and the U.S. dollar's value will eventually reflect better long-term prospects. more Agriculture futures advance broadly on weather concerns 30 Apr 08, 17:50 ET AP - Agriculture futures mostly rose Wednesday after the Federal Reserve cut interest rates and frigid, rainy weather in the U.S. Midwest threatened corn crops. more Starbucks to slash U.S. store openings 30 Apr 08, 17:36 ET Reuters - Starbucks Corp said on Wednesday it would slash U.S. coffee store openings through 2011 to cut costs in the face of weak U.S. sales and to focus more on growth abroad. more Starbucks profit falls as consumer weakens 30 Apr 08, 16:55 ET Reuters - Starbucks Corp on Wednesday reported a 28 percent drop in quarterly profit and announced plans to further cut U.S. store openings, but said it sees international business margins improving. more Time Warner plans to split off cable services 30 Apr 08, 14:50 ET Reuters - Time Warner Inc said on Wednesday it plans to fully separate its cable services division, responding to Wall Street's demands to refocus as a pure media content company to boost an ailing stock price. more Bear Stearns sending redundancy letters, say staff 30 Apr 08, 13:28 ET Reuters - Bear Stearns Cos Inc staff have started receiving letters telling them whether they will keep their jobs, as JPMorgan Chase & Co works through a takeover of its rival U.S. bank. more AT&T Reported Ready Offer 3G iPhone, Starting at $199 30 Apr 08, 13:24 ET NewsFactor - Fortune reports that AT expects to launch Apple's new 3G iPhone either on, or very near to, the June 27 anniversary of the original handset's 2007 launch. Citing an unnamed source familiar with the matter, the magazine said AT intends to heavily subsidize the new smartphone, giving anyone who signs up for a two-year contract a $200 discount on the iPhone's retail sticker price. more Virgin Mobile declines comment to NYSE on share rise 30 Apr 08, 13:16 ET Reuters - The New York Stock Exchange said on Wednesday that Virgin Mobile USA declined to comment on unusual activity in the cell phone company's shares. more Oil prices dive on healthy US crude reserves 30 Apr 08, 13:08 ET AFP - Oil prices tumbled lower on Wednesday as traders reacted to buoyant US crude inventories and awaited an interest rate decision from the Federal Reserve, analysts said. more Delay in XP SP3 Will Let Microsoft Put Up Dynamics Filter 30 Apr 08, 12:35 ET NewsFactor - Fans of the Windows XP operating system will have to wait for the latest -- and possibly last -- service pack update. Microsoft said Tuesday that further release of Service Pack 3, which had been made available through Windows Update and Microsoft Download Center the same day, was being delayed because of a recently revealed problem. more GTA IV Players Frustrated by Gaming Console Freezes 30 Apr 08, 12:29 ET NewsFactor - When you release a game that celebrates beatings, shootings, carjackings and other forms of social mayhem, it had better work properly. If the official forums for Grand Theft Auto IV are any indication, the programmers at Take-Two and Rockstar North should avoid lingering in dark alleys for the foreseeable future. more FDA warns Merck to fix vaccine plant problems 30 Apr 08, 11:44 ET AP - The Food and Drug Administration is warning drugmaker Merck & Co. to fix problems at its main vaccine plant. more SEC brings civil charges against ex-Monster execs 30 Apr 08, 11:18 ET Reuters - U.S. securities regulators filed civil charges against two former executives at employment listings website Monster Worldwide Inc on Wednesday for allegedly engaging in fraudulent stock options backdating, according to court documents. more Stocks rise ahead of Federal Reserve's rate decision 30 Apr 08, 10:28 ET AP - The stock market rose Wednesday as investors awaited the Federal Reserve's decision on interest rates and its assessment of the economy. more Wachovia may face $1 bln charge after court ruling 30 Apr 08, 10:14 ET Reuters - Wachovia Corp expects to take a charge of $800 million to $1 billion in the second quarter because of a federal appeals court decision over the taxation of leveraged lease transactions, the bank said on Wednesday. more Benedict Puts His Best Foot Forward -- For 1,200 Mile Walk 30 Apr 08, 10:14 ET PRWeb - INTREPID explorer Benedict Protheroe has taken his first steps on a mammoth 1,200 mile walk to Rome. more GM posts quarterly loss on strike and charges 30 Apr 08, 09:33 ET Reuters - General Motors Corp on Wednesday posted better-than-expected results on strong overseas sales, despite a costly supplier strike, waning demand for its most profitable vehicles and charges related to struggling former subsidiaries. more Wall Street headed higher after positive data 30 Apr 08, 09:14 ET Reuters - Stocks headed for a higher open on Wednesday after two reports pointed to resiliency in the economy and job market, easing concerns about the profit outlook. more Rockefellers call for change at Exxon Mobil 30 Apr 08, 08:57 ET Reuters - Members of the Rockefeller family are calling on Exxon Mobil Corp to make corporate governance changes and adopt a renewable fuels strategy to help address the soaring cost of energy. more P&G profit helped by cost controls 30 Apr 08, 08:41 ET Reuters - Procter & Gamble Co on Wednesday posted higher quarterly profit as cost controls helped offset soaring prices for oil and other commodities. more Economy grows by only 0.6 percent in first quarter 30 Apr 08, 08:37 ET AP - The bruised economy limped through the first quarter of this year at a six-tenths of a percentage point growth rate as housing and credit problems forced people and businesses alike to hunker down. more GM posts loss of $3.3B on weak US auto market, charges 30 Apr 08, 08:36 ET AP - General Motors Corp. struggled to a $3.3 billion first-quarter loss, due in part to a weak U.S. market, a strike at a major parts supplier and plummeting sales of sport utility vehicles and pickups. more First-quarter growth stronger than forecast 30 Apr 08, 08:35 ET Reuters - The economy grew at a slightly stronger pace than forecast as 2008 began, helped by inventory-building that tempered a steadily deteriorating housing sector and less vigorous consumer spending. more European stocks lower before US rate decision 30 Apr 08, 08:34 ET AFP - Europe's main stock markets dropped on Wednesday in cautious trade as investors awaited a statement from the US central that will accompany an expected cut in interest rates, dealers said. more McCain's Health-Care Proposal 30 Apr 08, 08:08 ET BusinessWeek Online - Senator John McCain (R-Ariz.), the likely Republican Presidential nominee, stayed true to GOP principles Apr. 29 when he unveiled a health-care reform proposal that leans heavily on competition rather than government intervention. He also wants to see the states take a far greater role in fostering that competition and in forming risk pools that would insure coverage for the sickest citizens. more Exxon Earnings: Expect Another Gusher 30 Apr 08, 08:08 ET BusinessWeek Online - Soaring oil prices are churning out huge profits for Big Oil. The question for the biggest player, ExxonMobil will be whether first-quarter net income tops its own record of $11.66 billion set in the fourth quarter of 2007. more D-Day for Washington Mutual 30 Apr 08, 08:08 ET BusinessWeek Online - At the end of February, around 200 of Seattle-based Washington Mutual's best performing retail loan consultants, their guests, and top company brass set off for four days of sun, snorkeling, and gambling at Atlantis Paradise Island resort in the Bahamas. more Kraft first-quarter profit falls, but sales jump 30 Apr 08, 08:01 ET Reuters - Kraft Foods Inc on Wednesday posted a lower quarterly profit, hit by rising ingredient and commodity costs and spending on new products and marketing, although sales jumped. more Time Warner net falls 36 pct; Will separate cable business 30 Apr 08, 07:33 ET AP - Time Warner Inc. reported a 36 percent decline in first-quarter profits Wednesday following an asset sale a year ago and said it would spin off the rest of its cable business. more Alcatel-Lucent reports Q1 loss amid stiff competition 30 Apr 08, 06:50 ET AP - Telecommunication equipment titan Alcatel-Lucent on Wednesday reported a fifth straight quarterly loss and said it expected annual revenues to fall while scaling back its market forecast for 2008. more Stronger dollar, easing supply concerns sink oil prices 30 Apr 08, 06:33 ET AP - Oil prices slipped Wednesday, adding to their steep slide of more than $3 a barrel in the previous session on a strengthening U.S. dollar and data showing a dramatic drop in American fuel demand. more Weak exports, high prices hurt Japan 30 Apr 08, 06:26 ET AP - Japanese industrial output dropped sharply in March as a slump in exports to the United States and soaring oil and food prices squeezed the world's second-largest economy, the government said Wednesday. more Scandal-hit Siemens' quarterly profit down 67 pct 30 Apr 08, 06:16 ET AFP - German engineering and electronics group Siemens, gripped by an unprecedented corporate scandal, said Wednesday its second quarter net profit plunged by two-thirds following a review of its industrial projects. more Microsoft eyes Yahoo retention plan: court papers 30 Apr 08, 02:41 ET Reuters - Microsoft Corp has considered earmarking $1.5 billion to retain Yahoo Inc employees if it acquires the company, according to court documents in a shareholder suit filed against Yahoo. more Oil steady after dollar-induced dive; stocks eyed 30 Apr 08, 02:23 ET Reuters - Oil dipped on Wednesday, a day after the rallying dollar sparked the market's sharpest fall in four weeks, as traders waited to see whether the U.S. Federal Reserve would signal an end to its interest rate cuts. more Heparin contamination appears deliberate: Baxter CEO 30 Apr 08, 02:21 ET AFP - US drug-maker Baxter International said Tuesday its blood thinner heparin, which is produced in China and has been linked to dozens of deaths, appears to have been deliberately contaminated. more Investors see recession, Wall Street depression 30 Apr 08, 00:56 ET Reuters - The U.S. economy may be in a funk, but that's nothing compared with the pall hanging over Wall Street. more Fed seen set to lower rates, may signal pause 30 Apr 08, 00:53 ET Reuters - The Federal Reserve is expected to cut interest rates by a modest quarter percentage point on Wednesday and may suggest the rate-cutting cycle it kicked off last fall has reached an end. more

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