Stocks fall on rate worries
Stocks fell on Thursday as rising bond yields fueled concern about a $20 billion buyout of Hilton Hotels Corp. General Motors Corp. dragged on the Dow. The largest U.S. automaker's shares fell after a steeper-than-expected drop in U.S. sales in June. On Thursday, Bear Stearns cut its recommendation on General Motors' stock.
Oil sets new 10-month high before data
Oil surged to another 10-month high above $74 a barrel on Thursday ahead of U.S. data that is expected to show refiners are processing more crude to meet robust summer gasoline demand in the world's top consumer.
Jones Apparel gets new unsolicited bid for Barneys
Jones Apparel Group Inc. (JNY.N: Quote, Profile, Research) said on Thursday it received an unsolicited bid from Fast Retailing Co. Ltd. to acquire Barneys New York Inc. for $900 million, which tops Jones' existing pact to sell the upscale clothing chain for $825 million.
Nomura is top underwriter, adviser in Japan
The Nomura Holdings Inc. group became the top securities underwriter, merger and acquisition adviser in value in the first half of 2007, according to Thomson Financial rankings covering transactions.
Caledonia to vote against CME's CBOT bid
Australian fund manager Caledonia (Private) Investments Pty. Ltd. said on Thursday it would vote against Chicago Mercantile Exchange Holdings Inc.'s US$10.5 billion offer to buy CBOT Holdings Inc.
Euro hits record peak vs yen, dlr weak ahead of ECB
The euro hit a record high versus the low-yielding yen on Thursday, boosted by expectations that the European Central Bank will keep interest rates on hold later in the session but pave the way for a rise in the coming months.
Apple shares at new high on iPhone sales prospects
Shares of Apple Inc. rose more than 4 percent to an all-time high on Thursday as investors bet on strong demand for its media-playing iPhone and speculation mounted over plans to sell the device in Europe.
Dell says to sell PCs at Asian retail chains
Dell Inc., the world's second-largest computer maker, said on Thursday it will soon start selling its laptops and desktops at Asian retail chains and stores.
Zimbabwe bans bulk buying as shops run empty
Zimbabwe authorities ordered businesses on Thursday to stop selling basic goods in bulk to avert shortages after an official price freeze triggered a frenzied buying spree that has emptied most shop shelves.
U.S. says Doha risks being delayed several years
A deal could be off, as the U.S. stepped up criticism of India and Brazil over failed talks
Interest rate decisions focus global investor minds
Interest rates dominated market sentiment on Thursday with decisions due from the Europe Central Bank and Bank of England, putting stocks, bonds and currencies on edge.
Gold little changed, but supported by oil prices
Gold was little changed on Thursday as traders adjusted positions following gains this week, with precious metals in general supported by lingering security concerns and strength in energy prices.
Chrysler sales drop in June
Chrysler Group, owner of the Jeep and Dodge brands, reported Tuesday that June sales dropped on continuing slower sales of its larger vehicles.
Google buys web-calling service GrandCentral
Google Inc. (NASDAQ: GOOG) announced Tuesday that it had acquired GrandCentral Communications, a start-up Internet-based phone service.
SAP admits to ‘inappropriate’ downloads
German software maker SAP AG (NYSE: SAP) said on Tuesday that one of its units had made “inappropriate†downloads, as the company formally responds in a court filing to a lawsuit by U.S. rival Oracle Corp. (Nasdaq: ORCL).
Danone in talks to sell biscuits unit for $7.2 billion
French food giant Groupe Danone said on Tuesday that it is in exclusive talks to sell its global cookie business to U.S. rival Kraft Foods, Inc. (NYSE: KFT) for $7.2 billion in cash.
Apple turns 55 pct profit on each iPhone: research
Apple, Inc.'s (NASDAQ: AAPL) new iPhone could deliver a 55 percent profit for every phone sold according to new findings by market research firm, iSuppli.
Live Earth's first green test: clean up own mess
Organizers want to set a new standard for recycling mountains of trash and gases generated by the events.
BMW, Mercedes mull subcompact partnership: magazine
BMW, the world's largest premium carmaker, and its closest rival, Mercedes-Benz, are in negotiations over a partnership to build subcompact cars, German motor magazine Auto Bild reported.
Canada dollar firm on commodities, bonds dip
The Canadian dollar was higher versus the greenback on Wednesday, supported by strong commodity prices in a quiet session marked by a lack of domestic data and with U.S. markets closed for the Independence Day holiday.
Mexican stocks rise, driven by America Movil gains
Mexican stocks rose in light trading on Wednesday, driven by gains in leading retailer Wal-Mart de Mexico and cell phone operator America Movil.
Gold edges higher, held in range by U.S. holiday
Gold edged higher on Wednesday to trade just above a key level of $650 an ounce, but business was very low key because of a holiday in the United States.
Buyout firms circle $4.2 billion HK property firm
Hong Kong property firm Chinese Estates Holdings Ltd. is in talks with investors on a possible buyout of the firm, valued at more than US$4 billion, sending its shares up as much as 30 percent to a record high.
Oil eases from 10-month high above $73
Oil edged down on Wednesday from a 10-month high above $73 a barrel, though analysts expected the rally to resume due to low U.S. fuel inventories and expectations of strong gasoline demand.
Booming M&A lift world stocks to lifetime peaks
World stocks surged to another lifetime peak on Wednesday as robust economic growth and flourishing corporate takeover activity helped to ease concerns about the prospect of higher borrowing costs.
Blackstone buys Hilton Hotels for $20 billion
U.S. private equity firm Blackstone Group agreed on Tuesday to buy Hilton Hotels Corp. for about $20 billion plus debt, the richest in a series of recent private equity offers for hotel companies.
Data Reinforce Expectations for Higher UK Rates
British house price inflation remained in double-digits in June and prices in the service sector accelerated, according to two separate surveys on Wednesday that reinforced expectations interest rates would go up this week.
GE sees strong growth in stable emerging markets
General Electric Co. expects to increase its revenues in stable developing countries like Turkey at a rate of two or three times their gross national product (GNP) growth, a regional director said on Wednesday.
Mice move in to new New York Times building
The New York Times just moved into a new $600 million, 52-story building and all people want to talk about is the mice. Or the leaks. Or the screwy elevators.
Sterling scales 26-yr peaks vs beleaguered dollar
Sterling jumped to a 26-year high versus the dollar for a third day on Wednesday, vaulting $2.02 and showing no signs of vertigo so far against a broadly weak dollar that stayed near record lows versus the euro.