AP - Factories laying off workers, stocks tumbling and shoppers ditching their credit cards forced the economy to contract in June, a trend likely to continue in the second half of 2008, a private business group said Monday. -- read full article
Mon, 21 Jul 2008 17:53:07 GMT - Yahoo! News: Business
Reuters - Emergency action by regulators to rein
in abusive short-selling in some large financial firms should
be expanded to include the stocks of all public companies, a
former top markets watchdog said on Monday.
Reuters - The cholesterol fighter Vytorin sold
by Merck & Co Inc and Schering-Plough Corp
failed to meet the main goal of improving cardiovascular
outcomes in a closely-watched heart study. -- read full article
Mon, 21 Jul 2008 18:21:08 GMT - Yahoo! News: Business
Reuters - Stocks were little changed on Monday
as a slide in pharmaceutical shares offset gains by financial
shares after Bank of America became the latest big U.S.
bank to beat profit expectations.
Reuters - Roche Holding AG may need
to raise its $43.7 billion bid for the Genentech Inc
stock that it does not already own, but an eventual deal is
likely, analysts and investors said on Monday. -- read full article
Mon, 21 Jul 2008 18:05:34 GMT - Yahoo! News: Business
Reuters - Yahoo Inc will appoint
activist investor Carl Icahn and two of his nominees to its
board, defusing a proxy battle showdown and making an immediate
deal with Microsoft Corp less likely.
Reuters - Australian travel retailer Flight Centre
Ltd confirmed its full-year pretax profit will jump
about 40 percent, in line with its previous forecast, boosted
by healthy global sales, and forecast further growth in 2009. -- read full article
Mon, 21 Jul 2008 00:44:04 GMT - Yahoo! News: Business
AP - Call it the big fizzle. The hoped-for second-half economic rebound is looking to be lethargic, with the country straining under high energy prices and fallout from the housing and credit debacles. -- read full article
Mon, 21 Jul 2008 04:07:07 GMT - Yahoo! News: Business
Reuters - Department store chain Mervyn's LLC is
fighting for survival after a lender pulled financing and some
vendors stopped shipments, the Wall Street Journal reported on
its website on Sunday. -- read full article
Mon, 21 Jul 2008 02:03:29 GMT - Yahoo! News: Business
Reuters - The U.S. economy needs months to
recover from its slowdown, but the banking system remains sound
despite a home mortgage crisis that could cause more problems,
Treasury Secretary Henry Paulson said. -- read full article
Sun, 20 Jul 2008 18:58:07 GMT - Yahoo! News: Business
Reuters - Oil rose towards $130 a barrel on Monday
after its biggest one-week slide on record as inconclusive
talks between Iran and world powers over Tehran's disputed
nuclear programme dimmed prospects of ending the row.
Reuters - A raft of concerns about the state of
the global economy, corporate earnings and the banking system
sent European shares lower on Monday, shrugging off large gains
in Asia.
Reuters - Swiss drugmaker Roche
Holding AG offered to acquire all outstanding shares
in its U.S. partner Genentech Inc for $43.7 billion in
cash to reinforce its position in cancer medicines. -- read full article
Mon, 21 Jul 2008 07:28:51 GMT - Yahoo! News: Business
AFP - The European Central Bank is trying to convince people in the eurozone that taking a tough stand on inflation will get them through lean economic times, arguing that long-term gains warrant short-term pain.
Reuters - Wal-Mart Stores Inc
presented a colorful, casual line of youthful looks for kids
and teens on Saturday at a fashion show that previewed the
mass-market chain's new low-cost offerings for back to school. -- read full article
Sun, 20 Jul 2008 06:03:51 GMT - Yahoo! News: Business
