Business newsBusiness news are continually updated from many sources around the net |
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The Energy Challenge: Gassing Up With Garbage
New York Times | 8 hours 29 minutes ago
After years of false starts, a new industry selling motor fuel made from waste is getting a big push in the U.S., with the first commercial sales possible within months.
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Energy Hunt Is Focusing On the Arctic
New York Times | 8 hours 29 minutes ago
The Arctic Circle holds enough recoverable oil supplies to meet current world demand for nearly three years, according to a new U.S. Geological Survey forecast.
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In Settlement, Nokia Will Pay Royalties to Qualcomm
New York Times | 8 hours 31 minutes ago
Under the terms of the agreement, Nokia can use all of Qualcomm’s patents in its mobile phones and network equipment, and in return it agreed not to use its patents against Qualcomm.
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Head of Microsoft’s Online Efforts Departs
New York Times | 8 hours 37 minutes ago
Kevin Johnson’s exit comes as Steven A. Ballmer, Microsoft’s chief executive, is shaking up top-level staff in a bid to improve Microsoft’s Internet search and ad business.
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Toyota ahead of GM in auto sales
International Herald Tribune | 8 hours 44 minutes ago
Based on sales for the first half of 2008, Toyota appears to be on its way to surpassing GM as the largest automaker.
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New Zealand cuts interest rates for first time in 5 years
International Herald Tribune | 8 hours 44 minutes ago
The central bank said further reductions were likely to counter a rapidly slowing economy.
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Fed report says U.S. economy continued to slow
International Herald Tribune | 8 hours 44 minutes ago
The Federal Reserve's "beige book" report showed that the country slogged through slower economic growth and rising prices during the summer.
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Reports Find Errors and Fraud in Small Business Administration Contracts
New York Times | 8 hours 44 minutes ago
Millions of dollars in federal contracts intended for small businesses reportedly were awarded to companies that had not qualified or had won the contracts fraudulently.
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Soccer book
BBC News | 10 hours 44 minutes ago
The world's oldest soccer annual is saved
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Sweatshop Raided--In Queens!
Forbes | 10 hours 48 minutes ago
New York state cites a supplier for Gap, Macy's and Victoria's Secret.
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Moscow tops list of pricey cities
BBC News | 10 hours 52 minutes ago
Moscow tops the league of the most expensive cities to live in for expatriates, followed by Tokyo and London.
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MPs scrap France's 35-hour week
BBC News | 10 hours 58 minutes ago
France's parliament passes a law which effectively ends the country's compulsory 35-hour working week.
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Big unveiling
BBC News | 11 hours 4 minutes ago
Replacing the Vectra is a major step for Vauxhall
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Psst: The Ice Age Is Over
Forbes | 11 hours 18 minutes ago
Global-warming debunkers want the SEC to take action.
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Help Is On the Way
Forbes | 11 hours 24 minutes ago
Congress takes action on housing, but who benefits?
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Bloomberg and Gates fight smoking
BBC News | 12 hours 25 minutes ago
Two of the world's richest men launch a campaign aiming to tackle smoking in the developing world.
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U.S. House passes housing rescue bill
Reuters UK | 12 hours 25 minutes ago
WASHINGTON (Reuters) - The U.S. House of Representatives passed a massive housing rescue bill on Wednesday while the White House dropped a threat to veto it, paving the way for measures aimed at shoring up the worst U.S. housing market since the Great Depression.
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Chrysler Plans to Cut 1,000 Jobs
ABC News | 12 hours 31 minutes ago
The automaker says it will cut 1,000 salaried jobs because of the auto slump.
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House Passes Housing Bill After Bush Says He Will Sign It
New York Times | 12 hours 32 minutes ago
Citing the need to restore confidence in the mortgage giants Fannie Mae and Freddie Mac, the president said he would set aside his objections to the legislation.
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Anheuser-Busch Profit Rises
New York Times | 12 hours 34 minutes ago
The company, which has agreed to be sold to InBev, the Belgium-based brewer, said it had stronger sales of its main brands and said it would soon raise prices.
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Kremlin Rules: An Investment Gets Trapped in Kremlin’s Vise
New York Times | 12 hours 34 minutes ago
The fall of one of Russia’s most prominent foreign investors points to the official corruption that afflicts the country.
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Twisted Genius
Forbes | 12 hours 38 minutes ago
Billionaire John Paulson is placing another mortgage bet, but from a completely different angle.
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Ontario Teachers window-shops Moneysupermarket.com
Reuters UK | 12 hours 43 minutes ago
TORONTO (Reuters) - One of Canada's largest pension funds said on Wednesday that it made a "preliminary approach" to the majority shareholder of Moneysupermarket.com but that it has no current intention of making an offer for the price-comparison website.
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State of the Art: Little Camera, Big Sensor, Many Problems
New York Times | 12 hours 47 minutes ago
Sigma develops a compact camera with a huge sensor. Let the euphoria begin? Not so fast...
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Amazon doubles three-month profit
BBC News | 12 hours 48 minutes ago
The online retailer Amazon beats forecasts by doubling its profits as high petrol prices encourage home shopping.
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Net firms in music pirates deal
BBC News | 12 hours 56 minutes ago
Six top UK internet providers are believed to have signed up to a government-backed plan to tackle illegal file-sharing.
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Strong Quarter for Sales at Amazon
New York Times | 13 hours 14 minutes ago
The online retailer Amazon.com reported that net income for the second quarter more than doubled on strong sales.
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Continental warily embraces approach from smaller rival
International Herald Tribune | 13 hours 19 minutes ago
The German auto parts giant Continental on Wednesday embraced a takeover approach from its smaller rival, the Schaeffler Group, but rejected the current offer as inadequate.
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Boeing profit falls on 787 delays and military contract
International Herald Tribune | 13 hours 19 minutes ago
The company had lower sales at its commercial and military operations, but held to its financial forecasts for this year and next.
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Top editor named at IHT
International Herald Tribune | 13 hours 19 minutes ago
William Schmidt, an assistant managing editor at The New York Times, was appointed Wednesday to take over as the top editor of the International Herald Tribune by the end of the year.
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Stocks rise on oil price and earnings
International Herald Tribune | 13 hours 19 minutes ago
Stocks rose for a second day as oil retreated and earnings reports eased concern that the profit slump would worsen.
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Former trader of Société Générale faces ex-boss in hearing
International Herald Tribune | 13 hours 19 minutes ago
The new lawyers for Jérôme Kerviel, the former trader whose hidden bets cost the French bank Société Générale nearly €5 billion, told a judge Wednesday that he was not the only one engaged in such unauthorized trading.
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Shifting Careers: Venture Financing With a Mission Beyond Profit
New York Times | 13 hours 25 minutes ago
Ray Leach leads a nonprofit called Jumpstart that aims to boost growth in the Cleveland area by providing seed money to promising local ventures.
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Fed Report Says Economy Continued to Slow
New York Times | 13 hours 30 minutes ago
The Fed’s “beige book” report showed that the country slogged through slower economic growth and rising prices during the summer.
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Options Players Probe Coal Cracks
Forbes | 13 hours 34 minutes ago
Crude oil's fall from record prices brings out bearish bets on coal miners and Canada.
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Cheap Chip Stock
Forbes | 13 hours 46 minutes ago
NVIDIA gets hammered after an early earnings confession, but the plunge sets up a lovely buy for the bold.
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Auto Parts Maker Warily Embraces Offer From Rival
New York Times | 14 hours 1 minute ago
The German auto parts giant Continental warily embraced a takeover approach from the Schaeffler Group, but it rejected the current offer as inadequate.
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Chrysler plans to cut 1,000 salaried jobs
Chicago Tribune | 14 hours 11 minutes ago
Chrysler LLC said Wednesday it will cut 1,000
salaried jobs worldwide by Sept. 30 as it tries to return to
profitability amid a severe downturn in U.S. sales.
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Chrysler to cut 1,000 jobs
Toronto Star, Canada | 14 hours 20 minutes ago
Chrysler LLC said Wednesday it plans to cut 1,000 white-collar jobs by the end of September to slash costs and survive a deep industry downturn.
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Diversify Beyond Stocks And Bonds
Forbes | 14 hours 24 minutes ago
Broad diversification calls for expanding your view of the world and of potential asset classes.
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Tribune making first cuts in Cubs, Wrigley auction
Chicago Tribune | 14 hours 44 minutes ago
Tribune Co. informed would-be buyers of the Chicago Cubs and Wrigley Field today whether they would be invited to continue in the auction based on last week's initial bids, with at least one previous front-runner seemingly on the outs -- at least for now.
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Oil slips further amid worries over U.S. demand
Reuters UK | 14 hours 50 minutes ago
NEW YORK (Reuters) - Oil prices fell $4 to a six-week low on Wednesday after a U.S. government report reinforced concerns high prices and economic turmoil were slashing into the nation's energy demand.
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Big Mac, Pepsi Chaser
Forbes | 14 hours 54 minutes ago
PepsiCo and McDonald's are looking good after posting respectable numbers for the quarter.
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Dreamliner hits Boeing's results
BBC News | 14 hours 59 minutes ago
Delays to a military order and the 787 Dreamliner project take their toll on Boeing's three-month results.
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President Bush explains the credit crunch: 'Wall Street got drunk'
BBC News | 15 hours 26 minutes ago
A secret recording shows US President George W Bush explaining the problems afflicting the US stock markets: "Wall Street got drunk."
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Playing Both Sides With Options
Forbes | 15 hours 39 minutes ago
The strangle is a decent options strategy if you think a stock is going to move and you have a clue on direction.
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Bush drops opposition to U.S. housing bill
International Herald Tribune | 15 hours 58 minutes ago
The move clears the way for a broad package of legislation to shore up the troubled U.S. mortgage companies Fannie Mae and Freddie Mac and help struggling home owners refinance loans.
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Vodafone and banks lead FTSE up
Reuters UK | 16 hours 17 minutes ago
LONDON (Reuters) - The main share index gained 1.6 percent on Wednesday as bank shares rose, led by HBOS , while lower U.S. crude prices pulled oil firms down but eased inflation concerns.
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Boeing profit falls on military and civil delays
Reuters UK | 16 hours 22 minutes ago
NEW YORK (Reuters) - Boeing Co reported a bigger-than-expected 19 percent drop in quarterly profit on Wednesday as it took a charge on a delayed military plane contract and suffered effects of its troubled 787 Dreamliner programme.
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Toyota moves ahead of GM in race to be largest automaker
International Herald Tribune | 16 hours 34 minutes ago
Toyota said Wednesday that it sold 2.41 million vehicles in the second quarter, 2 percent more than a year ago. G.M. said its sales for the quarter fell 5 percent, to 2.28 million.
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Paulson says bill will reassure investors in the U.S.
International Herald Tribune | 16 hours 34 minutes ago
Paulson said the bill had some "wasteful" provisions such as a $3.9 billion measure to provide federal help for homeowners facing foreclosure.
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William Schmidt named top editor at IHT
International Herald Tribune | 16 hours 34 minutes ago
William Schmidt, an assistant managing editor at The New York Times, was appointed Wednesday to take over as the top editor of the International Herald Tribune by the end of the year.
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The dollar's secret weapon: Intervention
International Herald Tribune | 16 hours 34 minutes ago
Traders are on high alert for an international move to support the dollar since monetary authorities rallied to the euro's defense in 2000.
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Royal Bank of Scotland likely to shelve sale of insurance unit
International Herald Tribune | 16 hours 34 minutes ago
Analysts think it will turn to smaller deals to improve its balance sheet.
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3 big drug makers surpass profit expectations
International Herald Tribune | 16 hours 34 minutes ago
The latest results show the sector's resilience in a slowing economy, but the industry faces stiff competition from generics.
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Toyota Ahead of G.M. in Auto Sales
New York Times | 16 hours 35 minutes ago
Based on sales for the first half of 2008, Toyota appears to be on its way to surpassing G.M. as the largest automaker.
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Iberdrola Renovables first-half profit up fourfold
Reuters UK | 16 hours 43 minutes ago
MADRID (Reuters) - The world's largest onshore wind farm owner, Iberdrola Renovables , posted first-half net profit up more than fourfold on Wednesday thanks to the incorporation of wind energy assets from Scottish Power.
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RBS capital in focus amid insurance sale doubts
Reuters UK | 17 hours 5 minutes ago
LONDON (Reuters) - Royal Bank of Scotland looks increasingly likely to shelve plans to sell its insurance arm and turn instead to other smaller deals to top up its capital.
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Bush drops veto to housing bill
BBC News | 17 hours 6 minutes ago
The White House says President George W Bush has dropped opposition to a housing bill that could boost the US economy.
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Midwest Banc weighs dividend cut as profit drops
Chicago Tribune | 17 hours 13 minutes ago
Midwest Banc Holdings Inc. is reviewing its 13-cents-a-share quarterly dividend, saying that "everything is on the table" as the Melrose Park-based bank tries to keep up its strength in a tough economic environment.
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Breakfast Helps McDonald's Return to Black
ABC News | 17 hours 42 minutes ago
A sandwich chain sale and higher breakfast sales yield a profitable 2Q.
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TSX negative as oil prices slide
Toronto Star, Canada | 17 hours 55 minutes ago
The Toronto stock market was negative late Wednesday morning as energy stocks moved lower alongside crude prices on further signs of falling demand.
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Moneysupermarket.com soars after bid approach
Reuters UK | 18 hours 3 minutes ago
LONDON (Reuters) - Shares in Moneysupermarket.com jumped almost 50 percent on Wednesday after the price comparison website said its chief executive and majority shareholder had rejected an approach from an unnamed bidder.
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Investors launch lawsuit aginst CIBC
Toronto Star, Canada | 18 hours 11 minutes ago
A group of investors has launched a "multibillion-dollar" class-action lawsuit against the Canadian Imperial Bank of Commerce, alleging misrepresentations about the bank's exposure to the American subprime mortgage market.
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Ryanair price error 'to be fixed'
BBC News | 18 hours 15 minutes ago
Ryanair says it will fix a fault on its website that means it is breaking rules on price clarity.
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Bounce Ahead For Energy, Sexual Health
Forbes | 18 hours 19 minutes ago
Things are pointing up for this quartet of energy stocks and a provider of erectile dysfunction treatments.
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Glaxo unveils plan to diversify
BBC News | 18 hours 38 minutes ago
Global drugs giant GlaxoSmithKline wants to broaden its product base as it grapples with tough competition from generic drug makers
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Bush Drops Housing Bill Objections
ABC News | 18 hours 44 minutes ago
In reversal, Bush says he will sign Democrat-sponsored bill to help homeowners.
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Retail sales to shrivel in June after May sun
Reuters UK | 18 hours 47 minutes ago
LONDON (Reuters) - Analysts had to rub their eyes last month when official figures showed retail sales volumes leapt in May at their fastest pace in more than two decades.
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Electronics giants to create wireless HD standard
Toronto Star, Canada | 18 hours 56 minutes ago
Sony, Samsung and other consumer-electronics heavyweights are uniting to support a technology that could send high-definition video signals wirelessly from a single set-top box to screens around the home.
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Vodafone unveils share buyback
Reuters UK | 18 hours 59 minutes ago
LONDON (Reuters) - Mobile phone group Vodafone moved quickly to defend its share price on Wednesday, announcing a surprise 1 billion-pound buyback programme after its stock crashed a day earlier on a weaker-than-expected trading update.
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Citigroup doubles cash to cope with markets
International Herald Tribune | 19 hours 3 minutes ago
Citigroup, the biggest U.S. bank by assets, more than doubled its stockpile of cash and easy-to-sell securities since last year and Gary Crittenden, the company's chief financial officer, said the firm has no plan to break up.
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The Whiners
Forbes | 19 hours 4 minutes ago
Short-selling hedge funds complain they don't like short-selling restrictions.
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Bush won't veto housing rescue bill
Chicago Tribune | 19 hours 6 minutes ago
Treasury Secretary Henry Paulson says agreement on a sweeping housing rescue bill will send a strong message to investors around the world and will be key to helping the nation turn the corner on the housing crisis.
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Boeing's 2Q Profits Falls 19 Percent
ABC News | 19 hours 13 minutes ago
Boeing's profit drop is linked to delays in a defense program.
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Traffic Deaths Fall as Gas Prices Climb
ABC News | 19 hours 16 minutes ago
The upside of high gas prices: less drivers on the road and less accidents.
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Overseas sales boost McDonald's
BBC News | 19 hours 27 minutes ago
Fast-food group McDonald's reports higher-than-expected quarterly profits, helped by solid overseas sales
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Top drug companies' earnings beat forecasts
Reuters UK | 19 hours 43 minutes ago
LONDON (Reuters) - The world's two biggest drugmakers, Pfizer and GlaxoSmithKline , both beat expectations for quarterly earnings on Wednesday, as did Wyeth , indicating the sector's resilience.
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Canada will avoid recession: Economists
Toronto Star, Canada | 19 hours 51 minutes ago
The Canadian economy should avoid recession this year, but growth is expected to be tepid before picking up to a more moderate pace in 2009, a quarterly Reuters poll showed on Wednesday.
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Bank split three ways on interest rates path
Reuters UK | 19 hours 55 minutes ago
LONDON (Reuters) - One Bank of England policymaker wanted to raise interest rates this month and another wanted a cut, but the remaining seven chose to keep them steady as both inflation and economic growth prospects had worsened.
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E.M.C. Profit Rises on Overseas Growth
New York Times | 20 hours 3 minutes ago
E.M.C., the world’s biggest maker of corporate storage equipment, posted higher profit as international sales grew 27 percent and U.S. sales rose 10 percent.
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Peabody Profit Jumps, Beats Forecasts
New York Times | 20 hours 13 minutes ago
NEW YORK (Reuters) - Coal producer Peabody Energy Corp said on Wednesday its second-quarter profit more than doubled, easily beating Wall Street forecasts, as soaring global demand drove prices higher.
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Northwest Reports Loss on Fuel Bill
New York Times | 20 hours 15 minutes ago
CHICAGO (Reuters) - Northwest Airlines Corp reported a quarterly net loss on Wednesday, reversing a year-earlier profit, on skyrocketing fuel prices.
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Wellpoint Profit Drops, but Beats Forecasts
New York Times | 20 hours 17 minutes ago
INDIANAPOLIS (AP) -- Blue Cross and Blue Shield health plan operator WellPoint has reported a 10 percent drop in second-quarter profit on higher medical costs, and has narrowed its outlook for the full year.
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Travelers Profit Down Due to Fewer Premiums
New York Times | 20 hours 18 minutes ago
SAINT PAUL, Minn. (AP) -- Property casualty insurer The Travelers Cos. says its second-quarter profit declined as it wrote fewer premiums, took higher catastrophe losses and recorded fewer investment gains.
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Earnings Decline at the Times Company
New York Times | 20 hours 22 minutes ago
Excluding one-time gains, earnings were flat but slightly ahead of analysts’ expectations.
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Gasoline powers inflation
Toronto Star, Canada | 20 hours 23 minutes ago
Living in Canada got a lot more expensive last month as the accelerating price of gasoline and the emergence of food inflation pushed the rate of increase in Canada's consumer price index to over three per cent for the first time in nearly three years.
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McDonald’s Swings to Second-Quarter Profit
New York Times | 20 hours 24 minutes ago
NEW YORK (AP) -- McDonald's Corp. said Wednesday it returned to profitability in its second quarter, helped by a gain from selling its interest in sandwich chain Pret A Manger and strong sales of breakfast items, chicken sandwiches and beverages.
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Toyota beats GM in worldwide sales
Toronto Star, Canada | 20 hours 29 minutes ago
Japanese automaker Toyota has beaten General Motors in worldwide sales in the first half of the year.
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McDonald's posts profit on sales growth
Chicago Tribune | 20 hours 32 minutes ago
McDonald's says it swung to a profit in its second quarter, helped by a gain from selling its interest in a gourmet sandwich chain and strong sales of breakfast items, chicken sandwiches and beverages.
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