Toyota Eyes Small Car Market in India
Toyota Kirloskar Motor (TKM), the automotive joint venture between Japan's Toyota Motor Corp. and India's Kirloskar Group is set to invest Rs.1400 crore ($350 million) on a new plant in Bangalore from where it will roll out its small car in a bid to tap the largest segment of car market in India.
CV Therapeutics Receives Investment of $175 million for Lexican
CV Therapeutics, the pharmaceutical company said on Tuesday it received an investment of $175 million from TPG-Axon Capital for rights to 50 percent of royalty of the Lexiscan injection, Reuters reported.
WaMu Finance Chair Resigns Under Pressure
A Washington Mutual Inc director resigned on Tuesday under pressure from shareholders who have faulted the company for its declining market value amid a sharp housing downturn.
Intel 1Q Eases Investor Concerns
Shares of Intel shot up as the company released first quarter results that reassured investors who were concerned about falling memory chip prices and the impact of a weak U.S. economy.
Merck Hid Vioxx Research Results, Deployed Ghostwritters
Merck & Co. was found conducting its own studies of the drug Vioxx, using names of scientific authors and writing academic articles, according to two documents from the Journal of the American Medical Association.
Copper Falls as Dollar Rebounds
Copper Futures ended down on Tuesday as a firmer dollar slowed demand for the red metal.
Merrill Expected to Post Billions in Write downs: Analysts
Merrill Lynch, Inc, is expected to report a loss for the first quarter of the year on Thursday, and is also expected to write down several billion dollars' worth of securities linked to the falling housing market, along with markdowns related to mono-line bond insurer and leveraged buyouts.
WaMu Reports $1.14 Bln 1Q Loss
Washington Mutual Inc. reported a first-quarter loss of $1.14 billion late Tuesday, as the lender continues to suffer from the mortgage meltdown and credit crisis.
Tokyo Stocks Rebound After Monday's Sell-Off, But Gains Limited
Tokyo stocks rebounded Tuesday on buybacks after heavy losses the previous day but gains were limited as investors remain jittery ahead of upcoming earnings reports by major U.S. corporations and financial institutions.
Comcast to partner with Pando to analyze data flow
Comcast Corp, the top U.S. cable operator, said on Tuesday it will partner with a second file-sharing company Pando Networks as it tries to avoid a criticism over its controversial management of Internet traffic on its broadband network.
Schwab Reports Best 1Q Results, Gains 29 Pct
Charles Schwab Corp, the discount brokerage said on Tuesday its earnings from continuing operations rose 29 percent, spurred of by a higher-than-expected number of new client sign ups.
White Sugar Rallies as Oil Gains Increase Demand for Alternative Fuel
White sugar advanced in London after oil gains increased demand for alternative fuels like ethanol.
Corn, Soybeans Rally on Increased Buying
Corn and soybeans rallied on Tuesday amid speculation that global demand will increase as different nations buy more food for reserve to avoid food shortage.
Natus Medical Buys SonaMed in Cash Deal
Natus Medical Inc., a provider of health products for newborns, said on Tuesday it will acquire SonaMed Corp. by paying for the company in cash.
BlackBerry to Discuss with India Security Issues Related to its Service
Research In Motion, maker of BlackBerry, will hold talks with India's government next week on Tuesday, to resolve India's security concerns, in which the country alleges it can't readily monitor BlackBerry services, while many emails sent through BlackBerry devices are not easily traceable.
Gold Futures Gain, Crude Oil Hits New Record
Gold futures rose for a second day on Tuesday, making modest gains as a hedge against inflation after crude oil hit a new record high. Silver also rose.
AstraZeneca and Ranbaxy Settle Nexium Patent Case
AstraZeneca PLC, the second- largest drug manufacturer in the U.K., said on Tuesday it has entered into a settlement agreement with Indian generics maker Ranbaxy Laboratories Ltd to conclude a lawsuit over a patent infringement case for its Nexium drug.
Wall Street Edges Higher
Stocks turned slightly higher Tuesday afternoon following a choppy morning, influenced by record oil and gas prices, concerns about first-quarter financial results, rising inflation and upbeat earnings from Dow component Johnson & Johnson.
Crude Hits Record Above $113 on Falling Dollar, Supply Trouble
Crude prices rose to a new record high on Tuesday as the dollar fell and supply disruptions from major oil exporters to the U.S. were announced today.
Apple, Sony Pay Japanese Customers Over Battery Fire
Apple and Sony reached an agreement on Monday to pay about 1.3 million yen ($12,903) to settle claims that a man was burned after an Apple computer caught fire, which allegedly was caused by a faulty Sony battery.
Siemens to Slash 1,200 Jobs at German Enterprise Unit
Siemens said on Tuesday that it had reached an agreement with the representatives of works councils to cut about 1,200 jobs in Germany in an effort to reduce the workforce at the enterprise communications unit.
UBS to Cut Jobs by 10 Pct: Reports
UBS, the Swiss bank which has taken heavy losses due to the downturn in housing and credit markets, may eliminate about 10 percent of its workforce, according to reports.
Dollar weak as Economic concerns remain
The dollar weakened against the Euro on Monday on renewed concerns about the economy.The dollar weakened against the Euro on Monday on renewed concerns abo...
Sterling recovers on Inflation data
Sterling gained against the dollar on Monday as British producer price inflation surged taking some heat out of Bank of England interest rate cut expectations.
J&J Profit Rises on Product Diversity, Weak Dollar
Johnson & Johnson, the world's biggest health-products maker, said its profit grew 40 percent in the first quarter, beating expectations as it benefited from its diversity of consumer products and a weak dollar.
U.S. Bancorp Earnings Fall, Credit Losses Rise
U.S. Bancorp, the sixth-largest U.S. bank, said on Tuesday first-quarter profit fell about 3.5 percent, on higher provision for credit losses, but managed to beat earnings estimates by a penny.
Delta, Northwest Shares Drop as DOJ Merger Reviews Continue
Delta and Northwest Airlines shares fell on Tuesday after the Justice Department said it is interested in examining the proposed merger between the two companies, a deal some lawmakers say will tamper with competition.
Google Expand TV Ad Service on Dish Network
Google revealed its intentions to diversify its ad business by reducing its dependence on advertising tied to Internet search results and expanding its television ad service with Dish Network Corp.
Bear Stearns Profit Plunged 79 Pct Ahead of JPMorgan Takeover
Bear Stearns, the fifth-largest U.S. investment bank, reported late Monday that its first quarter profit plunged 79 percent just ahead of the confidence crisis which forced a sale of the bank to rival JPMorgan Chase & Co.
JPMorgan Profit Expected to Drop by More Than Half
J.P. Morgan Chase & Co. is expected to report that its first quarter profit fell by more than 50 percent on Wednesday due to potential additional write-downs, and other expenses related to the tough mortgage market.
