Business and Finance News

U.S. tech stocks lead broader market lower
North America News.Net
Equity markets were weaker Friday, hit largely by a sell-off on the Nasdaq.
Northern Rock bids goodbye to loyal staff
North America News.Net
In the UK, the beleagured Northern Rock bank, in an effort to streamline, has made redundant 1,300 staff.
Australian mining company meeting ends in brawl
North America News.Net
A bitter dispute between shareholders of West Australian company Golden West Resources culminated in a fist-fight at a general meeting in Perth on Friday.
Thailand and Cambodia trying to tie up oil contract
North America News.Net
Negotiations involving claims to undersea oil and natural gas fields in the Gulf of Thailand are dragging on for Thailand and Cambodia.
Asian fashion in marketing push
North America News.Net
Fashion organisations from five Asian countries have announced they will extend activities beyond textiles to cover lifestyle products.
Zoom a victim of air wars
North America News.Net
Hundreds of people have been left stranded and up to 60,000 have lost bookings after the collapse of the low-cost transatlantic airline Zoom.
Japan economy gets stimulation package
North America News.Net
Japan wants to boost the country's economy by injection trillions of yen into the system.
US economy grows through feared recession
North America News.Net
The US economy grew at 3.3 percent in the second quarter of 2008, the government said Thursday in revised figures that showed strong international trade had helped stave off a feared recession.
Credit agency says India is stable
North America News.Net
Japan Credit Rating Agency Ltd has left unchanged its BBB+ ratings for India, reflecting a stable outlook on the country's foreign and local currency long-term senior debts.
High phone bills cause concern in Europe
North America News.Net
The European Commission has found some European mobile phone operators have been rounding up call durations, leaving customers with higher bills.
Airbus in A380 size revamp
North America News.Net
Airbus is considering an extended 1,000 passenger version of the A380 aircraft.
Fannie, Freddie, MBIA shares trim gains
MarketWatch
The surprising rally in financial stocks this week on thin trading volume stalled Friday as shares of mortgage companies Fannie Mae and Freddie Mac reversed recent gains.
U.S. stocks weakened by oil
MarketWatch
U.S. stocks declined on Friday, with investor sentiment weakened as personal income fell in July, and Dell Inc.'s worse-than-forecast quarter and a rise in oil prices...
GM offers early retirement to U.S. salaried staff
Reuters
General Motors Corp is offering early retirement incentives to about 28 percent of its U.S. salaried work force as part of its effort to reduce payroll expenses and conserve cash.
Gustav pushing oil prices higher
San Diego Union-Tribune
Oil prices rose sharply Friday as Tropical Storm Gustav neared the Gulf of Mexico area, home to a quarter of U.S. crude supplies and 40 percent of its refining capacity. By afternoon in Europe...
Energy Suppliers Feel The Heat
Sky News
He added: "There is help available for people who can't afford to pay their bills and we want our customers to get in touch if they're worried." Willie MacDiarmid, Scottish Power's director of...
European Union opens probe into 3 airline alliance
San Diego Union-Tribune
BRUSSELS, Belgium – The European Commission has opened an antitrust probe into a revenue-sharing deal between British Airways PLC, American Airlines and Spain's Iberia SA, a spokesman said...
Microsoft buys ciao.com to boost e-shopping search
Earth Times
Microsoft has agreed to buy Greenfield Online, owner of popular European price comparison website ciao.com, for about $486 million to boost its Internet search...
Carriers under pressure as tropical storm sends oil flying
MarketWatch
Airline shares declined Friday, tugged lower as oil prices perked up again with Tropical Storm Gustav tracking toward the Gulf of Mexico.
Toyota lowers 2009 global sales target
San Diego Union-Tribune
TOKYO – Toyota lowered its global sales target for 2009 by 700,000 vehicles to 9.7 million Thursday, showing that even one of the world's most durable automakers is being hurt by rising...
Dell Shares Slump As Earnings Disappoint
Morning Star
Friday, sending the personal-computer giant's shares down more than 12% in the wake of the PC maker's disappointing earnings report for the second quarter.
Paint firm’s earnings in rise
Daily Nation
Crown Berger Kenya Limited Group chief executive officer Rakesh Rao speaks during the relaunch of the firm’s new range of adhesives products on Friday at its Industrial Area offices. The company...
Ala. governor in talks over possible county bankruptcy that would be largest in US history
Star Tribune
Gov. Bob Riley negotiated with creditors Friday over whether Alabama's largest county should seek a deal on its $3.2 billion sewer debt or file the largest bankruptcy in U.S....

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