Medtronic to acquire Kyphon for $3.9 billion
Medical technology company Medtronic Inc. said on Friday that it would acquire Kyphon Inc. for $3.9 billion to expand its spinal treatment business. Medtronic will acquire all of medical device maker Kyphon's outstanding stock and pay about $71 per share in cash. The offer represents a 32 percent premium over Kyphon's closing price on Thursday, the company said.
Who would lend to a hedge fund?: James Saft
The current brutal conditions in markets from mortgages to corporate loans should be giving banks good reason to think long and hard about their loans to hedge funds.
Global stocks off lows, bonds, yen erase gains
European shares bounced back while the yen and government bonds erased gains in volatile trade on Friday after robust corporate results eased credit fears which have triggered sharp moves across financial markets.
Infineon explores Qimonda stake cut after weak Q3
Infineon is actively seeking ways to cut its stake in its loss-making memory-chip subsidiary Qimonda, Infineon's chief executive said, lifting Infineon shares after unspectacular quarterly results.
Volkswagen says to meet pretax target a year early
Volkswagen will meet its 2008 pretax profit target of 5.1 billion euros ($7 billion) a year earlier than planned as cost cuts boost results, the group said on Friday, sending its shares sharply higher.
Nikkei ends at 3-mth low on Wall Street
Japan's Nikkei average dropped 2.36 percent to its lowest in nearly three months on Friday on a plunge in the U.S. market and a stronger yen, while this Sunday's parliamentary election kept the market in check.
Thousands homeless as Asia weather misery spreads
Asia's monsoon misery has spread to Nepal, leaving thousands of people homeless, while more rain is expected to bring further chaos to China's drowned southwest, where many have already lost homes, livelihoods and loved ones.
Cadbury delays drinks sale amid market turmoil
Britain's Cadbury Schweppes said on Friday it was extending the timetable for the sale of its North American drinks business due to the turbulence in debt markets, although it said buying interest was keen.
Oil steady above $75
Oil steadied above $75 on Friday, supported by the fundamentals of energy supply and demand and shrugging off immediate worries over corporate borrowing costs and the U.S. economy that roiled stock markets.
High yielders tumble as risk aversion sets in
High yielding currencies fell sharply in volatile markets on Friday as a sell-off in credit and stock markets led investors to pare risky carry trades.
Toshiba operating profit up, eyes steady prices
Japan's Toshiba Corp., the world's No.2 maker of flash memory chips, posted a 1.6 percent rise in quarterly operating profit on Friday and raised its first-half forecast as chip prices recover.
Japan's SMFG Q1 net profit flat, keeps outlook
Sumitomo Mitsui Financial Group Inc. said net profit was roughly flat in the first quarter and stuck by its forecast for an earnings rebound for the full year, helped by an improvement in its bond portfolio and strong sales of investment trusts.
Michelin first half profit up 34 pct but shares fall
France's Michelin posted a 33.5 percent jump in first-half core operating income to 860.6 million euros ($1.2 billion), meeting forecasts, but its stock fell again on U.S. economic woes.
Congress ties Pakistan aid to terrorism progress
Congressional negotiators have agreed on legislation that would tie U.S. aid to Pakistan to significant progress by Islamabad in cracking down on al Qaeda, the Taliban and other militants, congressional sources said on Thursday.
Climate change to loom large at APEC finmin meeting
The economic challenges of climate change will top the agenda when finance ministers of APEC's 21-members meet in the Queensland coastal resort of Coolum next week.
Zentiva shares fall after warning on H1 results
Shares in Czech drugmaker Zentiva fell more than 7 percent in early Friday trade after the company said first-half results would be lower than expected.
Reuters H1 profit beats forecasts, sales strong
News and information provider Reuters Group Plc, which is being taken over by Canadian publisher Thomson Corp, posted a higher-than-expected interim trading profit and said sales were strong.
Target to sell only Blu-ray DVD players
Target plans to carry only Blu-ray high definition DVD players through the holiday shopping season, a move that boosts the Sony-backed technology and may deal a blow to rival HD-DVD.
Stage set for battle of the bands among gamers
A battle of the bands is shaping up in the red-hot genre of musical video games, with a highly anticipated debut title set to take on a hit franchise for the collective rock 'n' roll soul of gamers.
Texas leads list of dirtiest U.S. power plants
Texas has the most entries on a list of the dirtiest U.S. power plants, while New England and the Pacific Coast make less carbon dioxide because they have fewer coal-burning plants, an environmental group said on Thursday.
U.S. court throws out city's illegal immigration law
A U.S. judge on Thursday struck down as unconstitutional a local law designed to crack down on illegal immigration, dealing a blow to similar laws passed by dozens of towns and cities across the country.
Aquafina labels to spell out source - tap water
PepsiCo Inc. will spell out that its Aquafina bottled water is made with tap water, a concession to the growing environmental and political opposition to the bottled water industry.
Transocean, GlobalSantaFe break new deal ground
Transocean Inc. and GlobalSantaFe Corp. earned a page in the innovative deals book earlier this week, carving a route around high oil sector valuations and tightening debt markets.
Pilots blamed in Comair crash, controller cleared
Pilots of a Comair jet that crashed in Kentucky, killing 49 people, failed to recognize obvious signs they were on the wrong runway -- one that was too short for safe takeoff, U.S. investigators said on Thursday.
Sony President: no plans for another PS3 price cut
Sony Corp. currently has no plans for a further price cut to its PlayStation 3 (PS3) game console following a $100 cut in the U.S., the electronics conglomerate's president said on Friday.
Commuter writes book using mobile phone
An Italian writer decided to put his mobile phone to good use during his daily commute to and from work -- by writing a book.
Reid tells four companies no coal power in Nevada
U.S. Senate Majority Leader Harry Reid of Nevada sent a letter this week to four companies telling them not to build planned coal-burning power plants in his state.
Yen surges as market turbulence stokes risk aversion
The yen hit a three-month high against the dollar and a six-week high versus the euro on Friday as a sell-off in credit and stock markets forced investors to cut back on risky carry trades.
Microsoft CEO defends move beyond desktop
Microsoft Corp. Chief Executive Steve Ballmer defended the software company's expansion beyond its Windows and office software businesses, saying Web services and consumer devices are key to the company's future.
Mexico to use huge drug cash haul for addict rehab
Mexico will use $206 million confiscated in what officials call the world's biggest drug cash seizure to fund programs for addicts and strengthen the justice system, the government said on Thursday.
