Reuters - Oil prices surged more than $3 to a
record above $132 a barrel on Wednesday after a U.S. government
report showed a surprise drop in crude stockpiles,
reinvigorating fears of a worsening supply crunch.
Reuters - American Airlines will cut
jobs, retire old planes and start charging passengers to check
bags in a move to counter record fuel prices and a weak U.S.
economy, the company said on Wednesday.
AFP - British clothes to food retailer Marks and Spencer on Tuesday posted annual profits totalling more than one billion pounds (1.2 billion euros, 1.9 billion dollars) for the first time in a decade.
Investor's Business Daily - RPG Consultants, a 401(k) plan administrator, is speaking to two ETF providers about getting exchange traded funds into 401(k) plans. -- read full article
Mon, 19 May 2008 22:45:39 GMT - Yahoo! News: Business
Reuters - Union members at an American
Axle & Manufacturing Holdings plant in southwestern
Michigan are likely to approve a contract that would end a
three-month strike by granting the supplier deep concessions,
the local bargaining chairman said on Monday.
Reuters - Barclays is considering a
takeover bid for a rival and could try to buy an investment
bank, the Telegraph reported on Tuesday citing sources.
Reuters - Microsoft Corp has proposed to
buy Yahoo Inc's search business and take a minority
stake in the Web pioneer, stopping short of a full-out merger,
a person familiar with the discussions said on Monday.
Reuters - Retailer Home Depot Inc reported
a lower quarterly profit on Tuesday as the U.S. housing
meltdown hurt sales and it took charges tied to store closures
and a new-store pullback. -- read full article
Tue, 20 May 2008 10:11:42 GMT - Yahoo! News: Business
Reuters - NEW YORK (Reuters)- For David Simon, chief executive of
Simon Property Group , the largest U.S. owner of malls
and shopping centers, retail property may be less about dress
this year and more about distress. -- read full article
Sun, 18 May 2008 16:59:34 GMT - Yahoo! News: Business
Reuters - Berkshire Hathaway Inc (BRKa.N),
billionaire Warren Buffett's investment company, no longer held
any Ameriprise Financial Inc stock as of March 31,
according to a U.S. regulatory filing on Thursday.
AP - First the good news: The worst of the painful housing slump and the credit crunch might come to an end this year. Now the bad: The economy will weaken further and unemployment will rise.
Reuters - Stock markets are up sharply since
March. The recent batch of economic data has not looked as dire
as feared. The U.S. Federal Reserve is finding fewer takers for
its loan auctions. A fine-art sale drew a record $86 million
price for a Francis Bacon painting.
