Delta -Northwest Nears Merger
Delta Air Lines and Northwest Airlines are close to announcing a merger agreement as early as Tuesday, according to reports. The proposed deal would create the world's largest carrier, surpassing AMR Corps's American Airlines, and possibly prompt a series of other mergers that could reshape the U.S.
Crude Futures Rise to $111 on Falling Dollar, Oil Disruptions
Crude prices jumped on Monday as the U.S. dollar declined and supply disruptions in a U.S. pipeline rose demand concerns.
Wheat Advances on Concern of Dry Weather
Wheat gained on Monday amid concerns that warm and dry weather in the Great Plains may slow development of wheat crops in the U.S.
Wachovia Seeks $7 Bln After Surprise Loss
Wachovia Corp., the fourth largest U.S. bank, reported a first quarter loss on Monday and said it would strengthen its balance sheet by cutting the shareholder dividend and raising $7 billion in capital.
AOL to Sell Internet Ads for Verizon Communications
AOL, the Time Warner Inc. Web unit will start selling and managing Internet ads for Verizon Communications Inc., as it continues to diversify its business and put much focus to advertising.
US Slowdown and Asian Markets Drag Down Japan's Stocks
Japan stocks dropped Monday because of growing fears of U.S. economic slowdown and lagging Asian markets.
Breast Cancer Vaccine Reduced Death Risk Significantly
An experimental vaccine to spur the immune system to fight breast cancer seemed to reduce the risk of death in a significant number of women, according to a clinical trial monitored by the U.S. military.
Blockbuster Eyes Circuit City
Blockbuster Inc., the largest movie-rental chain, made an unsolicited $1.35 billion offer to buy Circuit City Stores Inc. to acquire all of its outstanding shares for at least $6 a share in cash.
U.S. Stocks Drop After Wachovia Report Loss
U.S. stocks fell on Monday for a second day after Wachovia Corp. reported an unexpected first quarter loss, adding to investors tension about earning reports after bellwether General Electric Corp. disappointed last week with its earnings loss.
American Axle Proposes Contract As Talks Continue
American Axle & Manufacturing Holdings Inc. offered the United Auto Workers union a new labor proposal on Friday as workers continue a six week strike.
Bear Stearns Details Finances in Months Before Collapse
Investment Bank Bear Stearns Cos. released some details of the heavy losses it suffered in the months before it nearly went bankrupt and agreed to sell itself to rival JPMorgan Chase & Co.
Chevron, Total seeks contract with Iraq on oil field
Chevron Corp. and Total confirmed that they are in talks with the Iraqi government to expand production at a major oil field in Basra, southern Iraq.
Tyco to Pay bondholders $250 Mln Suit Settlement
Tyco International reached a preliminary agreement on Friday to pay $250 million to settle lawsuits brought by holders of $3.7 billion of its debt.
IEA cuts China's Oil Demand Growth Forecast
The International Energy Agency (IEA) said on Friday that China's oil consumption this year may be lower than expected due to the first quarter' snowstorm and shortage of diesel supply.
Deutsche Bank Names M&A Co-Heads
Deutsche Bank AG announced on Friday the appointment of two executives as Global Co-Heads of its Mergers and Acqusitions division.
Dollar Drops Ahead of G7 Meeting, After GE Earnings Miss
The dollar fell on Friday ahead of a meeting of the Group of Seven and disappointing results from U.S. industrial conglomerate General Electric Co.
G7 Backs Call for Stricter Global Finance Rules
Rich nations which make up the 'Group of Seven' endorsed a report by a group finance officials and regulators to commit to stricter supervision of the world's troubled financial system.
Tata Consultancy Services bags multi-year deal from Chrysler
India's top IT services provider, Tata Consultancy Services (TCS), said it has bagged a multi-year contract from US-based automaker Chrysler LLC to provide maintenance on mainframes and servers and support computer applications.
Tata Motors, Fiat JV to invest $585 million, ramp up production
Fiat India Automobiles (FIA), the equal joint venture between India's Tata Motors and Italy's Fiat, will invest Rs.2341 crore ($585 million) on its Ranjangaon facility in western Maharashtra to double output to 200,000 cars in four years as well as expand engines and transmissions output to 300,000 units from 200,000 and also boost parts and accessories during the same period.
BSE Sensex overcomes inflation jitters to end up nearly 1 percent
The Bombay Stock Exchange (BSE) Sensex shrugged off early inflation jitters to end up 0.72 percent, Friday, on news of stronger-than-expected growth in industrial output, which buoyed market sentiments.
American Raises Ticket Prices While Cancellations Persist
AMR Corp., parent of delay-riddled American Airlines, joined other major U.S. carriers on Friday in a move to increase its ticket prices.
Copper Futures Rise $2 as Dollar Slumps and Inventories Hit Record Lows
Copper futures jumped $2 on Friday as the dollar was weak and prompted investments into commodities to compensate for inflation.
Analyst: High Crude Prices Advances Delta-Northwest Talks
Credit Suisse upgraded Delta Air Lines Inc and Northwest Airlines Corp to outperform from neutral, and said the merger between the companies is near certainty.
FTSE falls on Friday
The FTSE 100 share index fell 69.6 points to 5,895.5 on Friday (down 1.2 per cent) after earlier gains nearly took the index above the 6000 point mark.
Mortgage lending could drop by half in 2008
Steve Crawshaw, chairman of the Council of Mortgage Lenders (CML) has said that without extra funding from the Bank of England, mortgage lending could fall by half in 2008.
Heathrow T5 delay long-haul flights till June
British Airways gave a joint statement with airport operator BAA on Friday saying that it would be delaying the introduction of long haul flights to Heathrow Terminal 5 until June.
BERR to provide £225m for fuel bills
The Department for Business, Enterprise and Regulatory Reform (BERR) has announced a new scheme which it says could lift 100,000 households out of fuel poverty. The BERR said that it would be providing an extra £225 million to help meet the cost of rising fuel bills.
Teva Gets 6-month Exclusivity for Sales of generic Risperdal
Teva Pharmaceutical Industries Ltd. said today, a court in Washington approved its request to have the exclusivity of selling a generic version of the drug Risperdal produced by Johnson & Johnson for 180 days.
Court Dismissed Banks' Request in Clear Channel Case
A Texas state court denied a request by six banks to dismiss a lawsuit filed by Clear Channel Communications Inc and its two buyout firms who are trying to acquire the company.
Lehman CFO Sees Market Recovery in 2009
Recovery for the worldwide credit crunch and recovery in the securities market may not begin until next year, Lehman Brothers Holdings Inc. Chief