Month: July, 2008

Northwest to Add Fuel Surcharges in ’09

31 July, 2008 (23:32) | All

Northwest Airlines confirmed that it would add fuel surcharges of up to $80 for many domestic round-trip tickets.

Kodak’s Results Miss Expectations

31 July, 2008 (23:25) | All

Eastman Kodak posted lower-than-expected quarterly results as higher raw material and development costs trimmed margins.

Altria Earnings Beat Estimates; Shipments Fall

31 July, 2008 (23:20) | All

The Altria Group posted a second-quarter profit that slightly beat Wall Street estimates, but the number of cigarettes shipped by its Philip Morris USA unit fell more than some analysts expected.

Stocks & Bonds: Shares Plunge on Weak Growth Data

31 July, 2008 (23:20) | All

Wall Street sank after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers.

Japan Lifts Its Ban on Lobster Imports

31 July, 2008 (23:14) | All

Japan has lifted a ban on imports of North American lobster that had been linked to a misunderstanding over safety.

Merger in Gold Mining

31 July, 2008 (23:13) | All

Goldcorp has agreed to buy a rival Canadian gold mining company, Gold Eagle Mines, to pick up an exploration project.

Charge Leads MasterCard to a Loss

31 July, 2008 (23:11) | All

MasterCard posted a second-quarter loss because of a charge related to a settlement with a rival, American Express.

Consumer Product Safety Bill Heads to Bush for Signature

31 July, 2008 (23:08) | All

The bill aims to improve consumer product safety after millions of Chinese-made toys were recalled last summer.

Cablevision Beats Competition and Outperforms Expectations

31 July, 2008 (21:25) | All

Cablevision Systems posted stronger-than-expected earnings for the second quarter, handily beating back competition for customers, especially telephone company competition.

Greenspan speaks, market sinks

31 July, 2008 (19:09) | All

Blog: The former Fed chairman sends stocks reeling late in the day after warning that home prices are “nowhere near the bottom”

DealBook: As Schwartz Exits JPMorgan, What’s Next for Bear’s Former Chief?

31 July, 2008 (19:08) | All

Where will Alan D. Schwartz go next, now that the former Bear Stearns chief executive is leaving JPMorgan Chase?

Salmonella probe likened to ‘Keystone Kops’

31 July, 2008 (19:06) | All

WASHINGTON — The government bungled the salmonella outbreak probe so badly, a House committee chairman said today, that federal investigators reminded him of Keystone Kops. A colleague hoped the maligned tomato can get its good name back.

UBS to Pay Massachusetts $1 Million in Settlement

31 July, 2008 (18:05) | All

The settlement is part of an agreement to settle the state’s investigation into the bank’s sale of auction-rate securities to 17 cities and towns.

Bristol-Myers offering $4.5 billion for ImClone

31 July, 2008 (17:46) | All

TRENTON, N.J. — Bristol-Myers Squibb Co. today offered $4.5 billion in cash for its cancer drug partner, biotechnology company ImClone Systems Inc., saying the two are “a natural fit.”

Food prices rise 16% during 2008

31 July, 2008 (17:27) | All

ST. LOUIS — Rising costs for fuel, feed and fertilizer propelled grain prices to all-time highs in June, raising the overall price of crops and livestock by 16 percent this year compared to last year.

Wall Street slides on GDP, jobless data

31 July, 2008 (16:40) | All

NEW YORK — Wall Street sank today, after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers. The Dow Jones industrial average fell more than 200 points.

Workers’ pay and benefits lagging far behind inflation

31 July, 2008 (16:16) | All

Blog: Employers’ compensation costs rose just 0.7% in the second quarter, flat with the first quarter and down from a year earlier

GMAC Posts $2.48 Billion Loss on Big Write Downs

31 July, 2008 (14:29) | All

GMAC posted a $2.48 billion loss, as rising gas prices forced write-downs of truck and SUV leases, and losses in its mortgage lending unit soared.

House Votes to Let FDA Regulate Tobacco

31 July, 2008 (13:44) | All

The House overwhelmingly approved legislation that would give the F.D.A. new power to regulate tobacco products.

Marathon Profit Falls by Half

31 July, 2008 (13:10) | All

HOUSTON (AP) — Marathon Oil Corp. said Thursday it may split itself into two separate companies, one focused primarily on exploration and production and the other on refining and marketing.

Stocks mostly decline on GDP, jobless reports

31 July, 2008 (13:03) | All

NEW YORK — Stocks mostly declined today after a weaker-than-expected reading on the nation’s economy and troubling news on jobs touched off renewed concerns about businesses and consumers.

STAR-LEDGER ‘ON LIFE SUPPORT,’ OWNER MULLS SALE

31 July, 2008 (12:52) | All

The Star-Ledger in Newark, and its sister paper The Trenton Times, are “on life support” and could be sold if fewer than 225 workers fail to accept voluntary buyouts, their publishers warned. The paper’s owners, the Newhouse family, has already…

Exxon Breaks Profits Record, but Shares Fall

31 July, 2008 (12:41) | All

Buoyed by soaring oil prices, Exxon Mobil Corp. reported $11.7 billion in second-quarter profits, breaking its own record for the highest quarterly earnings in U.S. corporate history.

U.S. Economic Growth Improves Over First Quarter

31 July, 2008 (12:39) | All

The U.S. economy grew at a solid pace in the second quarter, the government said today, despite being buffeted by a financial crisis, a deep housing slump, high fuel prices and a weak job market.

Scrabulous reincarnated on Facebook as Wordscraper

31 July, 2008 (12:32) | All

Blog: The addictive online game is back, but with a new name and a different look.

Fast Lane: Auto-related briefs for Friday, Aug. 1, 2008

31 July, 2008 (12:29) | All

FORD DOWNGRADES FUEL STANDARD

Ford Motor Co. thinks running on regular is a good deal, especially with premium gas prices running well above $4 a gallon.

Shoppers switching to store brands

31 July, 2008 (12:24) | All

After watching the price of her favorite bread rising too quickly, Michele Shores decided it was time for a fresh approach.

GDP increase below expectations; Democrats seek second stimulus package

31 July, 2008 (12:23) | All

The prospects for a quick economic recovery dimmed Thursday, with new data showing the economy grew at a slower-than-expected rate this spring despite some oomph from tax rebate checks - and actually shrank late last year.

MasterCard Posts Loss After AmEx Settlement Charge

31 July, 2008 (12:21) | All

MasterCard said it posted a second-quarter loss because of a charge related to a settlement with rival American Express.

Ad malaise begins to spread to TV

31 July, 2008 (12:20) | All

Earnings reports from three major media companies - CBS Corp., The Walt Disney Co. and Viacom Inc. - this week show the malaise in local ad markets beginning to spread to national cable and broadcast networks.