Reuters - The net wealth of U.S. households
fell 2.9 percent in first three months of 2008 as home values
eroded further and share holdings fell sharply, marking the
second quarterly drop in a row, the Federal Reserve said on
Thursday. -- read full article
Thu, 05 Jun 2008 16:23:19 GMT - Yahoo! News: Business
Reuters - The European Central Bank reinforced the
view on Thursday that the only way for interest rates in most
major economies to go is up when, like the U.S. Federal Reserve
days earlier, it rang alarm bells on inflation.
Reuters - Ford Motor Co said on Thursday it
will cut expenses for its white-collar work force by 15 percent
over the next two months through job cuts, attrition and other
actions.
Reuters - Stocks pulled back from session highs
on Thursday after Standard & Poor's cut the credit ratings of
bond insurers MBIA Inc and Ambac Financial ,
keeping worries alive about credit losses.
Reuters - Oil jumped $4 to over $126 a barrel on
Thursday, rebounding from a sharp two-day sell-off as the
dollar slid after the European Central Bank signaled it could
raise interest rates this year.
Reuters - Henry Nicholas, co-founder of one
of Southern California's biggest technology companies, Broadcom
Corp , was indicted on Thursday on charges of using and
distributing hard drugs at his home, court documents showed. -- read full article
Thu, 05 Jun 2008 18:10:09 GMT - Yahoo! News: Business
Reuters - Verizon Wireless said on Thursday it
would buy rural mobile service provider Alltel Corp for $28.1
billion including debt, which would vault it to first place in
the U.S. market ahead of AT&T Inc .
Investor's Business Daily - The Fed should keep its key interest rate at 2% until mid-'09 and then raise them rapidly to 4% by year-end to keep inflation expectations under control, the Organization for Economic Co-operation and Development said. OECD assumes the European Central Bank will keep its rate at 4% over the next 18 months. The Bank of Japan should wait for mid-'09 and a clear exit from deflation before raising its rates from 0.5%, OECD said in its twice-year Economic Outlook. -- read full article
Wed, 04 Jun 2008 22:37:55 GMT - Yahoo! News: Business
Reuters - Calstrs, one of the largest U.S. pension funds,
may remove its eight-year ban on tobacco stocks as risks in
this industry have dimmed, the Wall Street Journal reported on
Thursday.
Reuters - Oil prices fell below $122 a barrel
on Thursday, down for a third day as the U.S. dollar climbed
and fears over demand grew after India and Malaysia raised fuel
prices, weighing on resource-related shares.
Reuters - Bear Stearns Cos' private-equity arm Bear
Stearns Merchant Banking is expected to announce on Thursday it
will spin off into an independent company with JPMorgan Chase &
Co as its largest investor, the Wall Street Journal
said.
Reuters - Yahoo Inc said on Wednesday
that deal talks are ongoing with Microsoft Corp as the
company resisted an attack by billionaire critic Carl Icahn,
who called its recent actions "deceitful."
Reuters - Britain's Vodafone confirmed on
Thursday that Verizon Wireless, in which it has a 45 percent
stake, is in advanced talks about buying U.S. rural mobile
service provider Alltel Corp. -- read full article
Thu, 05 Jun 2008 07:13:43 GMT - Yahoo! News: Business
Reuters - Williams-Sonoma Inc posted a 42
percent drop in quarterly profit on Wednesday and lowered its
2008 revenue forecast, sending its shares down as the soft U.S.
economy and weak housing market hurt sales. -- read full article
Wed, 04 Jun 2008 14:32:10 GMT - Yahoo! News: Business
AP - Worker productivity increased at a faster pace in the first three months of this year than previously estimated, wage pressures moderated and an important measure of business activity showed the service sector skirted recession in May.
