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EnCana to split in two with oil at record highs
Source:Reuters: Business News 11 May 2008, 2:17 pm
CALGARY, Alberta (Reuters) - EnCana Corp , Canada's biggest energy company, said on Sunday it plans to split into two separate oil and natural gas firms in an effort to wring out more value with crude prices at record highs.
Cablevision near deal to buy Newsday: report
Source:Reuters: Business News 11 May 2008, 1:14 pm
NEW YORK (Reuters) - Tribune Co is close to a deal to sell Newsday to Cablevision Systems Corp for $650 million, the Long Island paper reported on its website on Sunday, citing people familiar with the negotiations.
Gas prices hit another record high
Source:Latest financial news - CNNMoney.com 11 May 2008, 7:46 am
Retail gasoline prices jumped to yet another record high Sunday, according to drivers' advocacy group AAA's Web site.
Mubadala to turn Abu Dhabi island into business zone
Source:Reuters: Business News 11 May 2008, 3:54 am
ABU DHABI (Reuters) - Mubadala Development Co, an Abu Dhabi investment arm which manages over $10 billion in assets, said on Sunday it will develop an offshore island into a new business district that would house the stock exchange.
Citigroup eyes selling Japan consumer unit: paper
Source:Reuters: Business News 11 May 2008, 2:44 am
TOKYO (Reuters) - Citigroup Inc is considering selling its Japanese consumer finance company CFJ KK or cutting the unit's business significantly as part of its plans to shed assets, Japanese daily Nikkei reported on Sunday.
China forms company to make regional, jumbo jets
Source:Reuters: Business News 11 May 2008, 12:02 am
BEIJING (Reuters) - China has established a company to build regional commercial jets, with an eye to eventually reducing the country's reliance on Boeing and Airbus for jumbo jets, official media said on Sunday.
News Corp. withdraws Newsday bid
Source:Latest financial news - CNNMoney.com 10 May 2008, 1:43 pm
News Corp., the media conglomerate controlled by Rupert Murdoch, has withdrawn its bid to purchase the Long Island daily paper Newsday, a News Corp. spokeswoman said Saturday.
As Gazprom Goes, So Goes Russia
Source:NYT > World Business 10 May 2008, 1:16 pm
The weight of Gazprom, Russia’s corporate leviathan, extends far beyond its fields of natural gas all the way to the Kremlin, now headed by Dmitri A. Medvedev, its chairman.
Forever stamp sales rise ahead of rate increase
Source:Latest financial news - CNNMoney.com 10 May 2008, 12:11 pm
The cost of mailing a letter goes up a penny to 42 cents on Monday, the latest in what are expected to be annual price adjustments by the Postal Service.
News Corp unexpectedly drops bid for Newsday
Source:Reuters: Business News 10 May 2008, 12:05 pm
NEW YORK (Reuters) - Rupert Murdoch's News Corp on Saturday dropped its $580 million bid for Tribune Co's Newsday newspaper, just days after Murdoch said a deal was imminent, leaving cable television operator Cablevision as the likely winner of the Long Island daily.
Checking In: Arriving in London: Hotels Made in China
Source:NYT > World Business 10 May 2008, 11:52 am
The aggressive expansion plans of Travelodge, one of the largest budget hotel chains in Britain, hinge on the use of prefabricated hotel rooms, manufactured in China.
Shell pulls out of Iran gas deal
Source:Reuters: Business News 10 May 2008, 5:51 am
LONDON (Reuters) - Oil major Royal Dutch Shell has pulled out of a planned gas project in Iran, after coming under pressure not to participate from U.S. lawmakers who were concerned about Iran's nuclear programme.
Hints of a Shift at OPEC About a Rise in Oil Output
Source:NYT > World Business 10 May 2008, 4:55 am
An oil official signaled for the first time in months that the oil cartel might increase its output to prick the price bubble.
Barney's chief executive to resign: paper
Source:Reuters: Business News 10 May 2008, 12:18 am
NEW YORK (Reuters) - The chief executive of luxury clothing retailer Barneys New York has said he plans to resign, The New York Times reported on Saturday.
Oil hits record $126 on supply worry
Source:Reuters: Business News 9 May 2008, 11:35 pm
NEW YORK (Reuters) - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.
Criticized in U.S., the F.A.A. Is Seen in Many Regions as a First-Rate Regulator
Source:NYT > World Business 9 May 2008, 10:17 pm
Despite the heightened scrutiny of the F.A.A., regulators elsewhere say they still view the American agency as a model for safety and regulatory compliance.
Fragrance Market Is Establishing a Foothold in China
Source:NYT > World Business 9 May 2008, 9:05 pm
The importance of brand in sales raises the question of the market’s future stability as sales of perfume, a product that has few cultural roots in China, have recently risen exponentially.
Thank Goodness, Dublin Keeps Its Guinness Plant
Source:NYT > World Business 9 May 2008, 9:04 pm
Ending speculation that it would shut the 250-year-old St. James’s Gate brewery, the owner of Guinness stout said it was committed to continuing operations at the site because of its iconic status.
Light Touch in Inventing Chinese Scents
Source:NYT > World Business 9 May 2008, 8:54 pm
Western perfume makers have been selling their scents in China for roughly a decade. But in a few months, Parfums Benetton will introduce two of the first perfumes that have been designed especially for Chinese tastes.
Trade Deficit Narrows in March, but Exports Fall
Source:NYT > World Business 9 May 2008, 8:50 pm
The falling demand for imports is the latest indication that Americans are reining in their spending habits.
At Daimler, Sales Follow the World’s Oil Riches
Source:NYT > World Business 9 May 2008, 8:20 pm
Daimler AG, the maker of Mercedes-Benz automobiles, will deal with slowing auto sales in the U.S. in part by shifting sales to Russia, China and the Middle East, its chief executive said.
Regulators shutter Arkansas bank
Source:Latest financial news - CNNMoney.com 9 May 2008, 5:59 pm
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EA gets $1B financing for Take-Two bid
Source:Latest financial news - CNNMoney.com 9 May 2008, 3:08 pm
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Microsoft appeals $1.39B antitrust fine
Source:Latest financial news - CNNMoney.com 9 May 2008, 2:59 pm
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AIG's loss and record oil sour mood on Wall St
Source:Reuters: Business News 9 May 2008, 2:52 pm
NEW YORK (Reuters) - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.
Citi promises to rein in risk
Source:Latest financial news - CNNMoney.com 9 May 2008, 1:55 pm
A high-up Citigroup executive, chief administrative officer Don Callahan, had predicted that Citi's Investor Day, held Friday morning, would have to deal significantly in "promises," and that turned out to be the case. Citi is expecting to cut close to $500 billion from its $2.2 trillion balance sheet; to exit unprofitable client relationships; and to overturn its "silos" and really complete the 1998 merger of Citicorp and Travelers. Said CEO Vikram Pandit: "We're finally going to merge it all."
FedEx cuts outlook, blames fuel
Source:Latest financial news - CNNMoney.com 9 May 2008, 1:36 pm
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Ford surprised by Kerkorian investment
Source:Latest financial news - CNNMoney.com 9 May 2008, 1:10 pm
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Rockefellers push alternative energy at Exxon
Source:Latest financial news - CNNMoney.com 9 May 2008, 1:08 pm
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AIG losses boost bonds
Source:Latest financial news - CNNMoney.com 9 May 2008, 12:56 pm
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Rockefellers' greener Exxon gains support
Source:Latest financial news - CNNMoney.com 9 May 2008, 11:56 am
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How much equity do my investors deserve?
Source:Latest financial news - CNNMoney.com 9 May 2008, 11:42 am
Dear FSB: I have developed a technology I would like to commercialize and I'm looking to bring in partners to help me develop a business plan and seek venture capital/collaboration. What percentage of the company is typical given away in such cases? Assume the company will be an LLC?
Delphi losses widen as GM advances cash
Source:Latest financial news - CNNMoney.com 9 May 2008, 11:39 am
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Consumed: Almighty Dolor
Source:NYT > World Business 9 May 2008, 11:18 am
As Americans, we like the dollar, but as investors, we’re a little more willing to go where the money is.
AIG chief under siege
Source:Latest financial news - CNNMoney.com 9 May 2008, 11:03 am
Martin Sullivan, the chief executive of American International Group, picked the right time to build what he calls a "fortress balance sheet," because bad bets in the mortgage markets have him and his board under siege.
Push to End Europe’s Ban on U.S. Poultry Backfires
Source:NYT > World Business 8 May 2008, 10:43 pm
American pressure for a quick end to a Europe-wide ban on U.S. poultry imports threatened to backfire after European officials contradicted claims that the dispute was almost resolved.
Toyota Expects Decline in Annual Profit
Source:NYT > World Business 8 May 2008, 10:20 pm
The drop in annual profit is accelerating a shift by the Toyota Motor Corporation into emerging markets like China, Latin America and the Middle East.
High Prices for Staple Foods Dip, but Volatile Markets Persist
Source:NYT > World Business 8 May 2008, 9:37 pm
The prices of rice, wheat, soybeans and several other foods have come down recently, a development that could ease some of the panic in global food markets.
Europeans and British Leave Rates Unchanged
Source:NYT > World Business 8 May 2008, 9:08 pm
The European Central Bank left its benchmark interest rate unchanged at 4 percent on Thursday, saying that the region’s economy remained resilient despite financial turmoil.
U.S. Detains Executive, Deepening UBS Inquiry
Source:NYT > World Business 7 May 2008, 10:24 pm
A UBS executive was briefly detained by U.S. authorities in connection with a widening investigation into the Swiss bank’s work with questionable tax transactions.