Reuters - United Airlines parent UAL Corp
will slash its work force and domestic fleet,
following similar cuts by rivals as the industry grapples with
soaring fuel costs and a weakening economy, the company said on
Wednesday.
Reuters - Nasdaq OMX Group Inc said on
Monday it has begun selling real-time share data to the
websites of Google Inc's Google Finance, cable
television network CNBC and News Corp's Wall Street Journal
(NWSa.N).
AP - Federal Reserve Chairman Ben Bernanke has moved inflation up on his list of worries, suggesting more pointedly than ever that the time for cutting interest rates is over in view of soaring oil and commodity prices and a weakened dollar.
Reuters - Consumer spending on apparel and
footwear slid during May as buyers scaled back on discretionary
purchases amid a sluggish U.S. economic environment, according
to a SpendingPulse report released on Wednesday.
Reuters - Novartis has bought U.S. based Protez
Pharmaceuticals in a deal worth up to $400 million, giving it
rights to an antibiotic which could be used to fight superbugs
such as MRSA, the Swiss drugmaker said.
Reuters - Yahoo Inc on Tuesday set
its annual shareholder meeting on for August 1 in the heart of
Silicon Valley, as it braced for a showdown with billionaire
activist investor Carl Icahn, who is mounting a proxy fight for
control of Yahoo.
Reuters - UAL Corp , parent of United Airlines,
plans to reduce its mainline fleet by another 70 aircraft by
the end of 2009 and announce further job cuts, the Wall Street
Journal said on Wednesday.
Reuters - U.S. auto sales tumbled in May as
consumers spurned pickup trucks and SUVs in the face of record
gasoline prices, driving General Motors Corp, Ford Motor Co and
Chrysler LLC to double-digit declines.
Reuters - U.S. retailers are expected to post
lackluster May sales this week, as consumers spent tax rebate
checks on gas and food or used them to reduce debt, rather than
buying discretionary items like clothes and jewelry.
AP - Wall Street fell sharply for a second straight day Tuesday as investors grew more worried that the financial sector is still suffering badly from the credit crisis. The Dow Jones industrials, up modestly in earlier trading, fell more than 140 points.
Reuters - Massachusetts authorities sued H&R Block
Inc on Tuesday, charging that its mortgage unit
discriminated against black and Latino borrowers and escalated
a crisis over property foreclosures in the state.
Reuters - Stocks sank to session lows in
mid-afternoon trade on Tuesday as shares of Lehman Brothers
Holdings Inc extended losses, falling more than 12
percent, as investors feared financial institutions may have to
raise more capital.
Reuters - Federal Reserve Chairman Ben
Bernanke on Tuesday issued a rare warning on the inflationary
risk posed by a weak dollar, but said U.S. interest rates were
"well positioned" for an economy facing both price pressures
and threats to growth.
Reuters - Lehman Brothers Holdings Inc
shares fell on Tuesday to their lowest level since the meltdown
of Bear Stearns on concern that Wall Street's smallest
surviving brokerage could need to raise more capital.
Reuters - General Motors Corp on Tuesday
reported a 30.2 percent fall in May U.S. auto sales on an
adjusted basis, led by a 39 percent decline in truck sales.