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    Business Headlines
    Crunch turns back clock on mortgage lending (Reuters)

    Broker Craig Van Skaik poses in front of a house for sale in Los Angeles, May 6, 2008. As U.S. banks mop up the mess from billions of dollars of bad home loans, buyers are finding that the days of cheap money are over and that, in many cases, tougher versions of the old lending rules now apply. (Mario Anzuoni/Reuters)Reuters - As U.S. banks mop up the mess from billions of dollars of bad home loans, buyers are finding the days of cheap money are over and, in many cases, tougher versions of old lending rules now apply.


    -- read full article
    Thu, 22 May 2008 12:13:11 GMT - Yahoo! News: Business
    When economy revives, how will we know? (AP)

    In this March 16, 2008 file photo, a sale sign stands outside a new, single-family home in east Denver When do we know the economy has started to snap out of its funk? Pinpointing the turnaround can be as much art as science, but economists agree there could be some strong signals: a calmer stock market, an end to falling home prices and more jobs being created. We're not there yet. (AP Photo/David Zalubowsk, Filei)AP - With any luck, the second half of this year will be better than the so-far rocky first half. The Federal Reserve chief hopes that is the case. So does President Bush.


    -- read full article
    Thu, 22 May 2008 18:07:32 GMT - Yahoo! News: Business
    Legg's Miller undecided on Icahn's Yahoo slate (Reuters)

    People walk past Yahoo! offices in Santa Monica, California, May 19, 2008. (Lucy Nicholson/Reuters)Reuters - Bill Miller, the star portfolio manager at Legg Mason Capital Management, has not yet decided whether to support a dissident board slate at Yahoo Inc backed by billionaire investor Carl Icahn.


    -- read full article
    Thu, 22 May 2008 17:19:28 GMT - Yahoo! News: Business
    Oil pulls back after topping record $135 (Reuters)

    Traders work on the floor of the New York Mercantile Exchange May 21, 2008. (Shannon Stapleton/Reuters)Reuters - Oil prices pulled back from a record $135 a barrel on Thursday as dealers took profits from a dazzling rally and a recovering U.S. dollar dampened all commodities markets.


    -- read full article
    Thu, 22 May 2008 17:47:29 GMT - Yahoo! News: Business
    Airline stocks rally as oil prices retreat (Reuters)

    American Airlines MD-80 aircrafts sit on the tarmac at Chicago's O'Hare International Airport April 9, 2008. . (John Gress/Reuters)Reuters - U.S. airline shares were broadly higher on Thursday as oil prices -- directly linked to the price of jet fuel -- retreated from a record high above $135 a barrel.


    -- read full article
    Thu, 22 May 2008 16:34:29 GMT - Yahoo! News: Business
    Dow, S&P flat as early rally loses steam (Reuters)

    Traders work on the floor of the New York Stock Exchange, April 1, 2008. (Brendan McDermid/Reuters)Reuters - Stocks were mostly flat on Thursday as the price of oil weighed on sentiment as it hit another record high before retreating, offsetting gains by financial company shares.


    -- read full article
    Thu, 22 May 2008 16:46:44 GMT - Yahoo! News: Business
    Ford abandons 2009 profitability goal (Reuters)

    The 2008 Ford Mustang V-6 is shown at the 2008 New York International Auto Show March 19, 2008. (Keith Bedford/Reuters)Reuters - Ford Motor Co warned on Thursday that it no longer expected to meet a long-held goal of returning to profitability in 2009 and would cut production through the rest of this year in response to a slumping U.S. auto market.


    -- read full article
    Thu, 22 May 2008 15:28:10 GMT - Yahoo! News: Business
    Oil hits record for third straight day, tops $135 (Reuters)

    Traders work on the floor of the New York Mercantile Exchange May 21, 2008. (Shannon Stapleton/Reuters)Reuters - Oil sped to new peaks for a third straight day on Thursday to top $135 a barrel as investors fretted over long-term supply constraints and a big drop in U.S. crude stocks.


    -- read full article
    Thu, 22 May 2008 10:24:50 GMT - Yahoo! News: Business
    Airline shares hit as soaring fuel bills dent profits (Reuters)

    An American Airlines Boeing Super 80 takes off from Dallas/Fort Worth international Airport in Texas at sunset, February 19, 2007. (John Gress/Reuters)Reuters - The world's top airlines warned on Thursday that soaring fuel prices were hitting profits, prompting some to increase fares, and global leader American Airlines announced thousands of job cuts to counter higher costs.


    -- read full article
    Thu, 22 May 2008 09:20:44 GMT - Yahoo! News: Business
    Economy - Wednesday (Investor's Business Daily)
    Investor's Business Daily - U.S. commercial real estate activity fell 0.7% in Q1, the 3rd straight quarterly decline, and cooling likely will continue this year, the Nat'l Association of Realtors said. NAR's index, a gauge of future commercial real estate activity, is compiled from 13 variables, including industrial output, job growth, business sales, and REIT prices and returns. It fell 0.8% vs. a year earlier, the first decline in 5 years. Private nonresidential investment had held up until recently, partially offsetting the sharp drop in home building and related jobs. -- read full article
    Wed, 21 May 2008 22:37:05 GMT - Yahoo! News: Business
    AIG faces lawsuit by Florida pension fund (Reuters)

    A sign on an office building for AIG, American International Group, is pictured in Los Angeles, California May 8, 2008. (Fred Prouser/Reuters)Reuters - A Florida pension fund has filed a lawsuit against American International Group Inc and four top officials, including Chief Executive Martin Sullivan, for allegedly issuing false and misleading statements relating to the insurer's finances that inflated the prices of AIG securities.


    -- read full article
    Thu, 22 May 2008 04:50:23 GMT - Yahoo! News: Business
    Sallie Mae to continue federal student lending: WSJ (Reuters)
    Reuters - SLM Corp , the student lender better known as Sallie Mae, plans to continue to make federally guaranteed student loans, ending fears the company might join the recent exodus from a market that has been rocked by the credit crisis, the Wall Street Journal said on Thursday. -- read full article
    Thu, 22 May 2008 07:11:13 GMT - Yahoo! News: Business
    Adelphia founder and son to be resentenced (Reuters)

    John Rigas, former CEO of Adelphia Communications, exits the courthouse in New York City June 20, 2005. (Seth Wenig/Reuters)Reuters - A U.S. federal judge on Thursday will re-evaluate the prison sentences of Adelphia founder John Rigas and his son Timothy after an appeals court overturned one part of their convictions last year.


    -- read full article
    Thu, 22 May 2008 04:38:35 GMT - Yahoo! News: Business
    NRG makes unsolicited $11 bln bid for Calpine (Reuters)
    Reuters - Power company NRG Energy Inc has made an unsolicited bid to buy competitor Calpine Corp for about $11 billion in stock, the companies said on Wednesday. -- read full article
    Thu, 22 May 2008 04:34:43 GMT - Yahoo! News: Business
    Oil rockets to new high above $135 on supplies (Reuters)

    Traders work on the floor of the New York Mercantile Exchange May 21, 2008. (Shannon Stapleton/Reuters)Reuters - Crude oil soared to a fresh record high above $135 per barrel on Thursday as a surprise drawdown in U.S. crude oil inventories and a weaker dollar prompted heavy fund inflows into the market.


    -- read full article
    Thu, 22 May 2008 02:03:46 GMT - Yahoo! News: Business
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