IBT Staff Reporter

147121-147150 (out of 154948)

Oil falls back after surge on pipeline explosion

Oil gave back nearly all of its big gains on Thursday after Enbridge Pipeline said its fire-damaged crude pipeline in Minnesota could resume normal operations within days.An explosion along the Canada-to-United States pipeline, which supplies more than 10 percent of U.S. crude imports, killed two workers and choked off crude flows Wednesday.

Palestinian state crucial for Israel, Olmert says

Israeli Prime Minister Ehud Olmert said after peace talks in Washington that failure to negotiate a two-state solution with the Palestinians could threaten Israel's long-term survival.

India Infoline sells stake in subsidiary to Orient Global

India Infoline Investment Services (IIIS) has announced that it has sold 22.5 percent stake to Singapore-based private equity investor Orient Global, founded by emerging markets expert Richard Chandler, for $76.7 million (Rs.300 crore).

Musharraf says to end emergency rule December 16

Pakistani President Pervez Musharraf said on Thursday he would end a state of emergency next month, bowing to domestic and international pressure to restore normal government ahead of general elections in January.

JSW Group to invest Rs.7525 crore in Tamil Nadu, unveils ambitious Rs.40,000 crore expansion plan

The JSW Group, a part of the $4 billion O. P. Jindal Group has announced its plans of injecting Rs.7525 crore in four different projects in Tamil Nadu within the next three years.

Apple's Jobs tops Fortune's 25 most powerful businesspeople list

Apple co-founder and CEO Steve Jobs has been named as the most powerful businessman by Fortune magazine in a list which also features Lakshmi Mittal, Indra Nooyi and Ratan Tata.

U.S stocks lower as energy rises, retail disappoints

U.S. stocks were lower on Thursday, after fluctuating during the day, with a rise in energy sector stocks but disappointment in quarterly earnings at retailers.

Crude oil rises on pipeline explosion

Crude oil rose on Thursday, following an overnight explosion at a major pipeline which cut Canadian oil supply to consumers in the U.S.

Wolseley to cut 3,000 North American jobs

Worldwide distributor of plumbing and heating products Wolseley Plc has announced the axing of 3,000 jobs today in its first Interim Management Statement.

GDP growth surges but jobless claims up

A surge in inventory-building and robust exports propelled U.S. economic growth ahead at the fastest rate in four years during the third quarter, but a jump in claims for jobless benefits last week underscored the sharp slowdown now under way.

Wall Street falls on disappointing retail profits

Stocks fell on Thursday, surrendering some of Wednesday's large gains, as retailers stumbled after several disappointing quarterly earnings reports, including Sears Holdings Corp.

AIG eyes consumer finance, M&A in South Korea

American International Group is interested in expanding into consumer finance in South Korea and may buy Korean companies to grow its businesses, the head of its Korean life insurance unit said on Thursday.

Hyundai Mobis sees China sales rising rapidly

Hyundai Mobis Co said on Thursday China would account for half of its international unit's sales within five years, rising from the current 10 percent.

Global stock rally continues on U.S. rate hopes; oil jumps

Global stocks rallied on Thursday after strong Wall Street gains in the previous session, as the prospect of Federal Reserve interest rate cuts boosted faith in the U.S. economy and encouraged investors to take on risk again.

Dollar rises as U.S. rate cut talk cheers sentiment

The dollar rose broadly on Thursday as investors bet that the perceived likelihood of more U.S. interest rate cuts will help avoid a recession.

Fire shuts key Canada-U.S. pipeline

An explosion crippled the biggest pipeline supplying Canadian crude to U.S. Midwest refineries, shutting off more than 1 million barrels per day of imports to the world's biggest consumer.

Canada's National Bank takes Q4 loss on ABCP

National Bank of Canada swung to a fourth-quarter loss on Thursday, after previously warning that it would take a big charge on asset backed commercial paper.

Retail, wealth ops fuel TD Bank profit rise

Toronto-Dominion Bank, which plans to acquire New Jersey-based Commerce Bancorp early next year, posted a 44 percent jump in fourth-quarter profit on Thursday thanks to strong results in its wealth management and retail banking businesses.

Freddie Mac shares post biggest gain in 19 years

Shares of Freddie Mac surged on Wednesday as strong demand for a record preferred stock issue signaled the second-biggest provider of U.S. home funding could access capital even in turbulent markets.

Russian car market will be Europe's biggest: VW CEO

Russia will become Europe's biggest car market in 2009, overtaking Germany, Volkswagen's chief executive told reporters late on Wednesday during the group's official opening of its new plant in Kaluga outside of Moscow.

Ford agrees to settle some rollover cases

Ford Motor Co has agreed to settle class-action litigation covering plaintiffs in four states who claimed its Explorer sport utility vehicles were prone to rollovers, Ford said on Wednesday.

ABC poised to claim victory in November sweep

ABC is on track to win the November sweep in adults 18-49, and CBS will be first in viewership, while Fox and Univision are the only big networks to show year-over-year increases.

China lists substandard Wal-Mart, Carrefour goods

China has published a blacklist of substandard toy jugs and children's shoes sold at Wal-Mart stores and drawing pens from French retailer Carrefour in a quality sweep on children's goods sold at Beijing supermarkets.

Craig trains for next Bond film

He's jumping off tall buildings again, but this time it is just rehearsals ahead of the next James Bond blockbuster due in theatres in 2008.

Adobe and Yahoo test running ads inside PDF documents

Software maker Adobe Systems Inc and Internet company Yahoo Inc said on Wednesday they will offer a service to let publishers run advertisements in Adobe's popular document-reading format.

Sears profit plunges 99 percent

Sears Holdings Corp reported sharply lower quarterly profit on Thursday as sales at stores open at least a year fell at its U.S. Kmart and Sears stores.

E*Trade gets $2.55 billion cash infusion from Citadel

Online brokerage E*Trade Financial Corp, which has been pounded by credit woes in the mortgage business, said on Thursday that it was getting a $2.55 billion cash infusion from investors led by Citadel Investment Group.

AMD sees chip market remaining competitive

Microprocessor maker Advanced Micro Devices Inc (AMD) sees pricing in the chip market remaining competitive, and aims to return to profitability soon, Chief Executive Hector Ruiz said on Thursday.

Metal Gear Solid 4 last of the great exclusives?

Metal Gear Solid 4 is not only one of the most eagerly awaited games for Sony's PlayStation 3, it is also among the last of a dying breed -- games designed exclusively for one gaming console.