IBT Staff Reporter

145951-145980 (out of 154976) Our writers adhere to IBT's Editorial Guidelines.

Recession to be longer than usual: UMich

The U.S. economy has entered a recession that will be more painful and drawn out than the usual downturn, the director of the Reuters/University of Michigan consumer sentiment survey said on Friday. Inflation pressures will linger despite the retrenchment in consumer spending, complicating the task of policy-makers, the University's Richard Curtin said in a report, citing data from industry group The Conference Board.

Feb 08, 2008

Companies talk M&A, but will it get done?

While talk is axiomatically cheap, the price of debt and risk are proving prohibitively high

Feb 08, 2008

G7 draft: Will act to secure stability, growth

The Group of Seven finance ministers and central bank governors gathering in Tokyo on Saturday will reaffirm their determination to ensure financial stability, according to a draft G7 statement obtained by Reuters. We will continue to watch developments closely and remain committed to taking necessary action, individually and collectively, in order to secure stability and growth in our economies, the draft read.

Feb 08, 2008

Northern Rock comes onto government accounts

The Office of National Statistics (ONS) has said that Northern Rock will now be classified as part of the public sector as a public financial corporation for statistical purposes.

Feb 08, 2008

Japan Stocks Dip

Japanese stocks slumped into negative territory after data showed machinery orders fell more than three times faster than expected in December.

Feb 08, 2008

Google Launches Online Apps for Enterprise

On Thursday, Google expanded its free software suite, called Google Apps, to the enterprise market, allowing co-workers to collaborate on documents, calendars or presentations and to chat via instant messaging.

Feb 07, 2008

Wheat Prices Increase on Concerns of Depleted Supply of the Grain

Wheat posted gains on Thursday after millers and overseas importers encountered shortage of spring grain, used to make bread, pasta and other staple foods.

Feb 07, 2008

GPS Prices to Drop, become more prolific

Global positioning systems (GPS) typically found in military gear or in pricey consumer electronics may find make its way into common, everyday gadgets thanks to new breakthroughs.

Feb 07, 2008

Natural Gas Gains as Supplies Fall Higher than Forecasted

Natural gas gained on Thursday after a government report showed that U.S. supplies declined more than forecasted.

Feb 07, 2008

Atlantis Space Shuttle Launched, Mission Accomplished

Atlantis space shuttle was launched on Thursday from its seaside Florida launch pad, at about 2:45 p.m., making the mission successful after a two failed attempts last year in December and uncertainty of the weather before the launch that would have halted the mission for the third time.

Feb 07, 2008

Nintendo Wii Gains Japan Market, Other Companies Close

Nintendo Wii games continued to strengthen their competitive advantage in the international market, with the latest success being in Japan where several game companies were outcompeted.

Feb 07, 2008

January Retail Worst in 4 Decades

January retail sales were the worst in nearly four decades, adding further tension to a stumbling economy, according to Nordstrom Inc.

Feb 07, 2008

Platinum Hits New Record, Gold Soars on Supply Shortages

Platinum futures hit a historic high for the sixth consecutive day, while gold also posted strong gains as continued concerns over supply shortages from South Africa boosted investors appeal for the precious metals.

Feb 07, 2008

Atlantis Space Shuttle Ready for Launch, but is the Weather?

The Atlantis space shuttle is set for launching later today after NASA announced it had finished all the preparations for the mission to deliver Europe's first permanent space laboratory to the International Space Station.

Feb 07, 2008

Gold Edge Higher on BOE Rate Cut

Gold futures edged higher on Thursday, trading $912 an ounce, on speculation that central banks will mimic the U.S. by cut borrowing rates which boosted the appeal of the precious metal.

Feb 07, 2008

Romney Steps Aside, Endorses McCain

Former Massachusetts governor Mitt Romney ended his campaign for the Republican presidential nomination on Thursday, endorsing rival Sen. John McCain, saying it was in the best interest of his party and the nation to do so.

Feb 07, 2008

Stocks Waver on Cisco Outlook, Home Sales Dip

Stocks were slightly lower Thursday in mid-day trading after a volatile morning as investors worried over a lower outlook at networking equipment maker Cisco systems and a new report showed a further drop in home sales.

Feb 07, 2008

Aviva sales up 25% in 2007

Aviva Plc has reported growth of 25 per cent in sales for the whole year 2007, worth Â£38,583 million, thanks to strong growth in North America and Asia. The group has also said it is positive of sales and profit growth in 2008.

Feb 07, 2008

Tesco employees share £175 million payout

Tesco Plc has announced that it will be giving it's largest ever share payout of Â£175 million, to 51,000 of it's employees who are part of its Save As You Earn share scheme which allows Tesco employees to buy shares in the company at a discounted price.

Feb 07, 2008

Euro slides after Trichet's growth comments

The euro declined to two-week lows versus the dollar on Thursday after European Central Bank President Jean-Claude Trichet said euro zone growth risks are to the downside, signaling lower interest rates this year.

Feb 07, 2008

McDonald's Japan surges in 2007, predicts good '08

McDonald's Japan, the nation's biggest fast-food chain, posted a five-fold increase in annual net profit on Thursday and predicted further growth as it opens new stores and refreshes its menu.

Feb 07, 2008

ArcelorMittal to invest $20 bln in India over 10yrs

ArcelorMittal, the world's top steelmaker, will invest $20 billion over the next 10 years to build two steel plants in India and is in talks for iron ore mines, a senior official said on Thursday.

Feb 07, 2008

Japan arcade firm stung by success of Nintendo Wii

Shares in Japanese toy and amusement arcade firm Namco Bandai Holdings fell for a second day on Thursday after it issued a shock downward revision to its earnings outlook and said it would close 50 to 60 arcades, about one-fifth of the total.

Feb 07, 2008

Europe Rates Steady, UK Drops on Inflation Pressure

The European Central Bank kept its key interest rate steady on Thursday but the Bank of England reduced rates for the second straight month, citing inflation pressure in line with analyst expectations.

Feb 07, 2008

Fed wrestles with growth and inflation worries

Federal Reserve officials on Wednesday expressed concern about a possible U.S. recession but warned that the central bank cannot let down its guard when it comes to fighting inflation. Right now, we're concerned about growth, Richmond Federal Reserve Bank President Jeffrey Lacker said.

Feb 07, 2008