NPR Topics: BusinessEconomic Growth Spurs Concerns Over Inflation Thu, 28 Aug 2008 17:11:00 -0400
With higher than expected economic growth, economists remain concerned about inflation. Some think the economy is facing enough head winds to keep it in check. Others say the strong GDP numbers mean the economy hasn't slowed down enough yet to curb inflation.
Florida's Tourism Executives Revisit Offshore Drilling Wed, 27 Aug 2008 15:19:00 -0400
Florida's biggest business is tourism, and its beaches are the state's crown jewel. The state's tourism industry has strongly opposed offshore oil drilling, but in September, an annual tourism convention will focus on the risks and rewards of this practice.
In Minnesota, Two Dreams Thu, 28 Aug 2008 13:00:00 -0400
On the anniversary of Martin Luther King's I Have a Dream speech, we meet with two families — each striving for the American dream. Though they live just 10 miles apart, they face very different circumstances. One is well off, the other poor; one is black, one white. But they both value education and want a better life for their children.
Latest financial news - CNNMoney.comFed ruling: Attorney talk confidential Thu, 28 Aug 2008 16:51:59 -0400
Responding to intense criticism from corporations, legal groups, and key members of Congress, the Justice Department announced Thursday that federal prosecutors will no longer be able to strong-arm corporate targets to reveal protected conversations with their attorneys.
Captain's Blog, Stardate: 8/28/08 Thu, 28 Aug 2008 16:47:20 -0400
WHERE ARE WE? An interesting point in time right now. The dollar has climbed while commodity prices (i.e., OIL), have fallen. The question is: Are these aberrations, small counter-moves only temporarily interrupting a much larger trend? Or are these moves a significant reversal? In the case of the dollar, I would be surprised if the dollar makes a major sustained move higher.
Dell's earnings slip despite rising sales Thu, 28 Aug 2008 18:59:33 -0400
Personal computer maker Dell Inc. reported fiscal second-quarter earnings that fell from a year ago and missed Wall Street's expectations while sales in the quarter topped forecasts.
The Financial PageJames Surowiecki: What drives market volatility?James Surowiecki Mon, 25 Aug 2008 04:00:00 -0000
American investors are frazzled. True, oil prices have fallen from their most vertiginous highs, the dollar is a bit stronger, and the stock market has actually risen over the past month. But none of those things have happened in a smooth and steady fashion. The stock market’s “ascent,” in particular . . .
James Surowiecki: Too many stakeholders can be a deal-breaker.James Surowiecki Mon, 04 Aug 2008 04:00:00 -0000
In the second decade of the twentieth century, it was almost impossible to build an airplane in the United States. That was the result of a chaotic legal battle among the dozens of companies--including one owned by Orville Wright--that held patents on the various components that made a . . .
Rebecca Mead: Queen Claude's prayer book, at the Morgan Library.Rebecca Mead Mon, 28 Jul 2008 04:00:00 -0000
In May, a tiny, exquisite volume went on display at the Morgan Library & Museum: a prayer book made for Queen Claude of France, who was born in the penultimate year of the fifteenth century. Claude, a near-contemporary of Anne Boleyn, who served her at the French court as a . . .
Reuters: Business NewsEconomy shows vigor in Q2, but seen flagging Thu, 28 Aug 2008 22:43:18 +0100
WASHINGTON (Reuters) - Strong exports and consumer spending supported by government stimulus checks drove the U.S. economy up at a solid 3.3 percent annual rate in the second quarter, much faster than first thought, but growth is expected to flag as those factors fade.
Dell earnings disappoint, tech spending seen weak Fri, 29 Aug 2008 00:01:44 +0100
SAN FRANCISCO (Reuters) - Dell Inc posted a surprisingly steep drop in quarterly earnings and said companies around the world are cutting back on technology spending, sending its shares tumbling and sparking fears of weakness in the whole tech sector.
Boeing makes "best and final offer" to union Thu, 28 Aug 2008 21:38:18 +0100
NEW YORK (Reuters) - Boeing Co said on Thursday it made its "best and final" contract offer to its largest labor union, the International Association of Machinists and Aerospace Workers (IAM), including concessions that the company hopes will help avert a strike.
ABC News: MoneyEconomy Rebounds 3.3% in Second Quarter Thu, 28 Aug 2008 16:43:32 -0400
Foreign buyers bought more exports and tax rebates spurred shoppers at home.
Iraq's 1st Post-War Oil Deal Goes to China Thu, 28 Aug 2008 10:12:32 -0400
China, Iraq reach $3 bln revised deal for CNPC to develop Ahdab oil field.
Company Won't Recall Deadly Bassinets Thu, 28 Aug 2008 18:09:30 -0400
Govt. warns parents to stay away from Simplicity bassinets following two deaths.
BBC News | Business | UK EditionZoom Airlines suspend all flights Thu, 28 Aug 2008 20:09:50 -0000
Transatlantic budget carrier Zoom Airlines suspends all operations after applying to go into administration.
Dell pricing policy hits profits Thu, 28 Aug 2008 21:25:40 -0000
Dell says that a "strategic" effort to cut the prices of its computers, had dented its earnings.
House prices 'fall 10.5% in year' Thu, 28 Aug 2008 08:42:19 -0000
UK house prices are down 10.5% on a year ago, the first annual double-digit fall since 1990, the Nationwide says.
The Economist: BusinessFace value: Thu, 28 Aug 2008 11:35:37 -0000
The skills of Greg Brenneman, a corporate-turnaround specialist, are in demandA FEW years ago Greg Brenneman was asked to give some advice to MBA students thinking about the next step in their careers. “If you have a chance of working for a healthy company or a sick one,” he wrote, “choose the sick one. The sickest ones need the best doctors and it’s a lot easier to stand out in a company that needs help.” He should know. Throughout his career, Mr Brenneman has gone looking for trouble—first as head of the corporate-turnaround practice at Bain, a consulting firm, and then in a succession of senior roles, including stints at Continental Airlines, Burger King and Quiznos, two American fast-food chains. Each of these three businesses was going through a difficult time when Mr Brenneman came on board—he described Continental as “the world’s worst $6 billion company” before joining it—and at each he applied a similar approach to sorting out its problems. His tactics, which may provide inspiration for those managers whose firms are struggling in the economic downturn, have impressed private-equity partners. On August 19th Mr Brenneman stepped down as chief executive of Quiznos (though he has become its executive chairman) to take up a new role as chairman of CCMP Capital Advisors, a private-equity firm. ...
Business in South Korea: Thu, 28 Aug 2008 11:35:36 -0000
A steelmaking giant is one of several bidders for a shipbuilderPOSCO, a South Korean firm that is the world’s fourth-largest steelmaker, likes to prove its critics wrong. It proudly points out that the World Bank refused to put money into the company when it was founded in 1968, saying South Korea would never be able to support a steel industry. But POSCO prospered and became the engine for the country’s remarkable industrialisation. Now the company is trying to convince sceptics that it should buy the world’s third-biggest shipbuilder, Daewoo Shipbuilding & Marine Engineering (DSME). A 50.4% stake in the company, worth $7 billion-8 billion, is up for sale.Prospective bidders had until August 27th to send letters of intent to Korea Development Bank, DSME’s biggest shareholder, which owns a 31% stake and is also managing the sale. It is one of the last big asset sales by South Korea’s state-owned financial institutions, which took over many companies during the economic collapse of the late 1990s. Since DSME makes submarines for South Korea’s navy, the government is not allowing foreigners to bid on security grounds. Along with POSCO, other bidders include Hyundai Heavy Industries, the world’s biggest shipbuilder; GS Group, a construction, energy and retail conglomerate; and Hanwha Group, an insurance and chemicals firm. ...
Pharmaceuticals: Thu, 28 Aug 2008 11:35:36 -0000
Drug giants’ recent attempts to buy big biotech firms have provoked a backlashDALLIANCES between conventional pharmaceutical companies and biotechnology firms are nothing new. Big Pharma, eager to refill its emptying drug pipelines, has in recent years looked hopefully to biotech’s upstarts. The drugs giants have pursued all sorts of tie-ups, from alliances to licensing deals to outright purchases of a few smallish companies. But mindful of the sharp cultural differences between the two sorts of firms, they have generally avoided big acquisitions.Until now, that is. In recent weeks Roche, a Swiss pharmaceuticals giant, has made a surprise $44 billion bid for the 44% of Genentech, the world’s biggest biotech firm by stockmarket value, that it does not already own; and Bristol-Myers Squibb (BMS), an American drugs company, has offered $4.5 billion for the 83% of ImClone, an American biotech firm, that it does not already control. These attempts came on the heels of earlier deals in which AstraZeneca, a British drugs giant, bought MedImmune for $15.6 billion, and Takeda of Japan paid $8.8 billion for Millennium. ...
Business News - UPI.comUPI NewsTrack Business Thu, 28 Aug 2008 19:01:37 -0400
Stocks rally sharply ... Oil slips, natural gas big loser ... Starbucks adding breakfast fare ... Bassinet deaths under investigation ... News from United Press International.
Oil slips, natural gas big loser Thu, 28 Aug 2008 18:07:43 -0400
NEW YORK, Aug. 28 (UPI) -- Crude oil futures closed down 2 percent in New York Thursday after two days climbing as producers and refiners made ready for a storm.
Stocks rally sharply, oil drops Thu, 28 Aug 2008 17:14:35 -0400
NEW YORK, Aug. 28 (UPI) -- U.S. stock indexes rose sharply Thursday buoyed by a strong economic report, a financial sector rally and a surprising turnabout by oil prices.
Bankruptcy surges 29 percent for year Thu, 28 Aug 2008 15:58:03 -0400
NEW YORK, Aug. 28 (UPI) -- Amid a shaky economy and a lot of uncertainty, bankruptcies have surged in the United States, a government report says.
Starbucks adding breakfast fare Thu, 28 Aug 2008 15:22:35 -0400
CHICAGO, Aug. 28 (UPI) -- Starbucks plans to offer healthier breakfast options next week in a new effort by the U.S. coffee chain to lure McDonald's morning crowd.
2 bassinet deaths under investigation Thu, 28 Aug 2008 14:56:18 -0400
CHICAGO, Aug. 28 (UPI) -- U.S. authorities were reported looking into a possible design flaw link between two baby deaths and a popular bassinet.
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