Public face key as writers' strike goes forward
The Writers Guild of America'smedia strategy has both shied away from and desperately needed a public face.
Expedia third-quarter profit gains on bookings
CHICAGO, Nov 7 (Reuters) - Travel Web site Expedia Inc said on Wednesday quarterly profit rose 69 percent on a surge in bookings primarily in rapidly growing European markets.
NY subpoenas Fannie and Freddie in mortgage probe
New York Attorney General Andrew Cuomo announced on Wednesday that his office was sending subpoenas to Fannie Mae and Freddie Mac as part of his expanding probe of the home mortgage industry. The subpoenas seek information on the mortgage loans that the two companies purchased from banks, including Washington Mutual, Cuomo said.
China FX reserve comments push dollar to new lows
The dollar dropped to record lows versus the euro on Wednesday after comments by a Chinese official stoked fears the central bank of the world's fourth largest economy would reduce its holdings of U.S. assets.
Sliding dollar and huge GM loss hit stock markets
The dollar hit record lows versus the euro on Wednesday, knocking major stock markets as General Motors posted its biggest quarterly loss ever which rattled investors already concerned about the U.S. economy.
$100 oil in Asia adds to exports worry
Does Asia have more to fear from rising petrol prices as crude oil hurtles towards $100 a barrel than it does from slowing growth in its biggest export market of the United States?
India's Network18 to invest $90.5 mln in Viacom JV
Indian media company Network18 said on Wednesday it would invest $90.5 million over three years in its joint venture with Viacom Inc, which will launch a Hindi-language general entertainment channel in India next year.
Dutch group ING wins battle for Thai TMB stake
Dutch financial group ING will buy a 25.2 percent stake in Thailand's TMB Bank, TMB officials said on Wednesday after the money-losing Thai bank rejected a last-minute rival bid.
Washington Mutual shares tumble after sees loan losses
Washington Mutual Inc, the largest U.S. savings and loan, said on Wednesday the U.S. housing slump will persist through 2008, causing loan losses to mount and mortgage lending to fall to an eight-year low.
NY probes Fannie, Freddie appraisals roles-sources
New York Attorney General Andrew Cuomo is expected to announce on Wednesday he is examining what role Fannie Mae and Freddie Mac might have played in an alleged scheme to inflate appraisals of home values, sources familiar with the investigation said.
Nasdaq to buy Philadelphia exchange for $652 million
Nasdaq Stock Market Inc said on Wednesday it would acquire the Philadelphia Stock Exchange for $652 million, a move that will let the No. 2 U.S. stock exchange expand its presence in the fast-growing options business.
Citi, Merrill troll for same five CEO candidates
Citigroup Inc and Merrill Lynch & Co Inc, both seeking new chief executives after taking billions of dollars in write-downs, are considering the same five candidates for their top jobs, CNBC television reported on Wednesday.
Bhutto threatens Musharraf with long march
Former Pakistan prime minister Benazir Bhutto threatened on Wednesday to lead a mass protest march to the capital unless President Pervez Musharraf quits as army chief, holds elections and restores the constitution.
TV moves to digital age
Americans can watch television shows on anything from a computer to an iPod these days, but media companies and advertisers have yet to figure out how best to take advantage of all the new ways to reach audiences.
Microsoft rolls out Web services linked to Windows
Microsoft Corp. released on Tuesday a suite of free Web services that connect to its Windows operating system, delivering a major element of its strategy to maintain the dominance of its software while extending its reach on the Internet.
YouTube video predicted fatal school shooting
At least seven people died when a gunman opened fire at a school in southern Finland on Wednesday, hours after a video was posted on YouTube predicting a school massacre.
Low-cost laptop production started
A nonprofit group said on Tuesday production of a new laptop computer for children in developing countries had begun, a milestone that could shake up the PC industry by ushering in a new era of low-cost computing.
Gold eyes record $850 as oil nears $100
Oil was on the cusp of the landmark $100 a barrel level on Wednesday, helping push gold towards a record $850 an ounce as an embattled dollar hit new lows.
Boot's on the other foot for executive job seekers
A global shortage of executive talent is forcing companies to be much more accommodating as increasingly restless senior managers demand less travel and more flexibility, executive search firms say.
Fed's Lacker: Credit turmoil assessment takes time
Federal Reserve Bank of Richmond President Jeffrey Lacker said on Wednesday that assessing the credit market turmoil that started this summer may take more time and that the Fed did the right thing in making funds available, albeit at a cost.
Productivity implies growth without inflation
Non-farm worker productivity increased at the strongest rate in four years during this year's third quarter, the government said on Wednesday in a report implying the economy could keep growing without generating inflation.
Homes brace for heating oil highs
When the first snow falls this winter, 61-year-old Grace Murphy won't be turning on the heat in her Dorchester, Massachussetts home. With her heating oil tank at empty, she'll be huddled around her gas oven with her husband Paul, 66, and her 88-year old mother.
GM posts record loss after $39 billion charge
General Motors Corp posted its largest quarterly net loss on Wednesday, reflecting a $39-billion charge related to unclaimed tax credits and a loss at its former finance subsidiary GMAC. The largest U.S. automaker posted a third-quarter net loss of $39 billion, or $68.85 per share, compared with a loss of $147 million, or 26 cents per share a year earlier.
Toyota profit up on weak yen
Toyota Motor Corp, the world's most profitable automaker, posted a 2.7 percent rise in quarterly operating profit thanks to a weaker yen, stronger sales and cost cuts and nudged up its full-year forecasts.
Total net falls but tops forecasts
French oil giant Total posted a 3 percent drop in third-quarter adjusted net profit on Wednesday, despite higher oil prices and production, but the result beat forecasts and it maintained a key output target.
Time Warner Cable posts lower profit
Time Warner Cable Inc, the second-largest U.S. cable television operator, said on Wednesday that third-quarter profit fell due to a large year-earlier gain.
Web, gift cards challenge retail analysts
Gauging retail success or failure for the holidays is an increasingly difficult, and often unreliable, endeavor.
Six in 10 U.S. consumers see recession: survey
Six in 10 U.S. consumers say a recession is likely in the next three to six months, a new survey on holiday spending said on Wednesday. A telephone survey found 45.7 percent of 1,000 respondents say a recession is somewhat likely, 14.3 percent said very likely and Forty percent said a recession was not likely
Oil races to record high above $98 a barrel
Oil sped above $98 a barrel for the first time on Wednesday, closing in on the landmark $100 level, driven by a slumping U.S. dollar and worries over a winter fuel supply crunch.
North Korea still threat despite nuclear rollback: South
North Korea still poses a military threat even if the reclusive state has started to roll back its nuclear arms program, South Korea's defense minister said on Wednesday.