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Sprint Deal With Cable TV Operators Seen
Sprint Nextel will announce a deal to offer cellphone services with the nation's three largest cable television operators as early as Wednesday.
Fed seen nudging rates up again
Reuters - Federal Reserve policy-makers were
set to nudge U.S. interest rates higher for a 12th straight
time on Tuesday, confident that expansion is on track but wary
that costlier energy could fire dangerous inflation.
FTC could OK J&J-Guidant Tuesday: report
Reuters - Johnson & Johnson's proposed
purchase of Guidant Corp. is expected to be approved by
the U.S. Federal Trade Commission as early as Tuesday, the New
York Times reported, citing executives involved in the deal.
Nikkei hits 4-year high on econ hopes
Reuters - The Nikkei share average rose 1.92
percent to end at a four-year high on Tuesday, as investors
piled into the market after a worst-ever trading suspension was
lifted and snapped up banks and other stocks on economic
optimism.
Refco denies wrongfully seizing assets
Reuters - Bankrupt futures broker Refco Inc.
denied on Monday that it misdirected and wrongfully
seized assets at the center of a lawsuit by two funds backed by
famed investor Jim Rogers.
Kroger Workers in 3 States OK Contract
AP - Union workers have ratified a four-year contract with Kroger Co., the nation's largest traditional grocery retailer.
China eyes state railway sell off
China plans to open up its rail network to investors and aims to list parts of the nation's infrastructure on foreign and domestic stock markets.
Dell warns sales missed forecast
The world's largest PC maker Dell warns that third quarter sales have missed forecasts, hitting its share price.
LSE takeover conditions set out
Euronext and Deutsche Boerse are given the go-ahead to bid for the London Stock Exchange - but only if certain conditions are met.
Mystery Chinese firm eyes Exxon
US oil giant Exxon Mobil dismisses a proposed bid to buy it from a little-known Chinese firm for $450bn.
AOL co-founder leaves Time Warner
Steve Case, a founder of AOL and a key player in its merger with Time Warner, resigns from the media giant's board.
Bumper Q3 fires UBS hope for record 2005
Reuters - Switzerland's UBS soundly beat market
expectations with a record profit in the third quarter of the
year, putting the world's seventh-largest bank within sight of
its best-ever full-year figures.
UK gives go-ahead for LSE takeover
Reuters - The UK competition body has given
European bourse operators Euronext and Deutsche Boerse the
green light to bid for the London Stock Exchange, but only if
the potential bidders limit their control of the future
clearer.
BAA H1 pretax profit up on retail
Reuters - Britain's biggest airport operator BAA
Plc posted a 5.2 percent rise in first-half earnings on
Tuesday and said it planned to cut 700 jobs under a cost-saving
program.
Qwest Expected to Announce a Settlement
Qwest is expected to announce as early as Tuesday a $400 million settlement of its largest shareholder lawsuits relating to an accounting scandal during the dot.com boom.
Computer glitch hits Tokyo market
Share trading on the Tokyo Stock Exchange is suspended for more than four hours following a computer glitch.
Bumper Q3 fires UBS hopes for record 05
Reuters - Switzerland's UBS soundly beat
market expectations with a record profit in the third quarter
of the year, putting the world's seventh-largest bank within
sight of its best-ever full-year figures.
BAA to axe jobs as passenger growth slows
Reuters - UK airport operator BAA Plc said
on Tuesday it planned to axe 700 jobs under a cost-saving
program and posted higher first-half earnings despite rising
utility bills and slowing passenger growth.
Wealth fees boost profits at UBS
UBS posts better-than-expected profits that have put the Swiss bank on course for a record-breaking year.
Computer glitch on Tokyo market
Share trading on the Tokyo Stock Exchange is suspended for more than four hours following a computer glitch.
Indonesia fuel cuts hit economy
Indonesia's unpopular decision to cut fuel subsidies already is having an impact on its economy, figures indicate.
Google restarts online books plan
Google resumes its controversial digital library project, saying it will focus on books in the public domain.
Procter & Gamble posts higher profit
Reuters - Procter & Gamble Co. , the maker
of Crest toothpaste and Tide laundry detergent, posted a 4
percent rise in quarterly profit on Tuesday, as strong sales of
health and beauty items offset rising raw material costs and
the impact of hurricanes on its coffee business.
Colgate posts quarterly results
Reuters - Colgate-Palmolive Co. , the maker
of its namesake toothpaste and other consumer products, posted
a higher quarterly profit on Tuesday, on stronger sales and the
benefits of a restructuring program.
Lockheed eyes Computer Sciences bid -WSJ
Reuters - Lockheed Martin Corp. and
three private-equity firms are considering offering $64-$65 a
share for Computer Sciences Corp. , valuing it at about
$12 billion, the Wall Street Journal reported on Tuesday.
Viacom posts profit on cable advertising
Reuters - Media conglomerate Viacom Inc.
(VIAb.N) on Tuesday reported a third-quarter profit as higher
advertising sales at its MTV cable networks and the "War of the
Worlds" box-office release offset a slump at the television
stations group.
U.S. stock futures fall on Dell
Reuters - U.S. stock futures pointed to a
slightly lower market opening on Tuesday, with investors
bracing for another interest-rate hike from the Federal Reserve
while an earnings warning from computer maker Dell Inc.
led to weakness in technology shares.
Putin seeks diversified economy
Vladimir Putin says the Russian economy will diversify amid concerns of a slowdown in growth this year.
OFT faces supermarket challenge
The Office of Fair Trading faces a court challenge of its decision not to refer supermarkets to competition watchdogs.
P&G profit tops estimate
Reuters - Procter & Gamble Co. , the maker
of Crest toothpaste and Tide laundry detergent, posted a 4
percent rise in quarterly profit on Tuesday, as strong sales of
health and beauty items offset rising raw material costs and
the impact of hurricanes on its coffee business.
Qwest says may pay $400 mln settlement
Reuters - Qwest Communications International
Inc. said on Tuesday it reached a tentative agreement
with plaintiffs in a securities class action and could pay a
$400 million cash settlement.
Tech stocks open down on Dell
Reuters - U.S. technology stocks opened lower on
Tuesday after bellwether Dell Inc. cut its revenue
forecast a day earlier and the Federal Reserve was expected to
raise interest rates for a 12th consecutive time.
Lockheed eyes Computer Sciences bid: WSJ
Reuters - Lockheed Martin Corp. and
three private-equity firms are considering offering $64-$65 a
share for Computer Sciences Corp. , valuing it at about
$12 billion, the Wall Street Journal reported on Tuesday.
Rate hike on tap at Fed meeting
Reuters - U.S. Federal Reserve policy-makers
began a meeting on Tuesday that economists expect will yield a
12th straight interest-rate hike to keep consumer prices tame
in the face of rising energy costs.
Retailers need a little Christmas, right now
USATODAY.com - Even as some retailers try to kick off the holiday shopping season earlier, consumers are expected to spend later. Wal-Mart's rollout today of its 'Home for the Holidays' ad campaign is its earliest holiday ad start ever and an effort by the world's biggest retailer to get shoppers in stores now.
Fed expected to up interest rates
The US Federal Reserve is expected to raise interest rates on Tuesday, as the US economy grows strongly.
Box office wins boost Viacom
Media group Viacom thanks the success of hit movie War of the Worlds and other films for a 10% rise in revenues.
Jordanian drug firm lists shares
Hikma Pharmaceuticals, a Jordanian drug firm, is valued at £483m ($854m) for its float on the London stock market.
Factories hum in October
Reuters - The U.S. factory sector absorbed
rising energy costs in October and ran at a robust pace, while
construction spending hit a record high in September, according
to data on Tuesday.
Fed seen nudging rates up
Reuters - Federal Reserve policy-makers were
set to nudge U.S. interest rates higher for a 12th straight
time on Tuesday, confident that expansion is on track but wary
that costlier energy could fire dangerous inflation.
Cox to sell systems to Cebridge
Reuters - Cox Communications Inc. on Tuesday
said it agreed to sell some of its cable television systems to
Cebridge Connections Inc. in a deal that will make Cebridge the
eighth-largest cable operator in the United States.
Manufacturing Sector Grows at Slower Pace
AP - The nation's manufacturing activity grew at a slower pace during October as companies increasingly felt the strain of an ongoing rise in energy and raw materials prices. The continuing price increases ensured that the Federal Reserve will continue raising interest rates.
Tech stocks drop after Dell disappoints
Reuters - U.S. technology stocks declined on
Tuesday after Dell Inc. , the world's No. 1 personal
computer maker, lowered its revenue forecast and as investors
anticipated the Federal Reserve 12th straight interest rate
increase.
Radical US tax reforms proposed
Proposals to fundamentally reform the US tax system to boost savings and investment are put forward.
South Africa approves gem reform
The South African parliament passes a law that compels diamond firms to pass more stones to indigenous finishers.
Firms 'must pay up' for pensions
UK firms may have to pay an extra £130bn into final salary pension schemes over the next 10 years, the watchdog warns.
Jail for eBay phishing fraudster
The leader of an internet identity fraud gang, a practice known as phishing, is jailed for four years.
Ford's sales off sharply again
Reuters - Ford Motor Co. was stuck in a rut
for the second straight month in October, as high gasoline
prices continued to undercut demand for big sport utility
vehicles and pushed overall U.S. sales lower.
Cox in multibillion dollar system sale
Reuters - Privately held cable company Cox
Communications Inc. on Tuesday said it agreed to sell cable
television systems to Cebridge Connections Inc. in a
multibillion dollar deal that would more than triple Cebridge's
customer base and move it into more densely populated areas.
Factories hummed in October
Reuters - The U.S. factory sector absorbed
rising energy costs in October and ran at a robust pace, while
construction spending hit a record high in September, according
to data released on Tuesday.
Volcker urges inflation vigilance
Reuters - Rising inflation in the United States
remains a concern and the newly-nominated head of the Federal
Reserve will have his hands full dealing with it, former Fed
Chairman Paul Volcker said on Tuesday.
Stocks fall on Dell's dimmer outlook
Reuters - U.S. stocks fell on Tuesday a day
after Dell Inc. , the world's No. 1 personal computer
maker, cut its revenue outlook and as investors anticipated the
Federal Reserve's 12th straight interest-rate increase.
Fed Raises Its Key Rate by 1/4 Point for 12th Time
Once again, the Fed signaled its intention to keep raising the benchmark rate at a 'measured' pace in the months ahead.
Fed raises US interest rate to 4%
The Federal Reserve raises US interest rates by 0.25% to 4% as predicted, the 12th increase in succession.
South Africa passes gem reform
The South African parliament passes a law that compels diamond firms to pass more stones to indigenous finishers.
Fed raises rates, signals more to come
Reuters - The Federal Reserve on Tuesday raised
U.S. interest rates to the highest in four years and signaled
it still had leeway to tighten monetary policy, while data
showed U.S. factories ran at a robust pace in October.
Sales at GM and Ford drop 23 percent
Reuters - General Motors Corp. and Ford
Motor Co. both reported 23 percent declines in October
U.S. sales on Tuesday, as high gasoline prices further undercut
demand for big sport utility vehicles.
Stocks dip as techs sag
Reuters - U.S. stocks fell on Tuesday, led by a
drop in technology shares after a disappointing outlook by Dell
Inc. , and as the Federal Reserve indicated it's still
not done with raising rates.
Fed Raises Its Key Rate by Quarter Point for 12th Time
Once again, the Fed signaled its intention to keep raising the benchmark rate at a 'measured' pace in the months ahead.
G.M. and Ford Report Sharply Lower Sales
Automobile sales continued to slide last month, with General Motors and Ford - which have both been in dire financial straits of late - were stung particularly hard.
GM and Ford still losing sales
General Motors and Ford again report falling US sales, while those of their Japanese rivals continue to rise.
Takeover helps Sun narrow losses
US computer firm Sun narrows its first quarter losses, helped by its takeover of fellow technology firm Storage.
Sales fall at GM and Ford
Reuters - General Motors Corp. and Ford
Motor Co. reported 23 percent declines in October U.S.
sales on Tuesday, as high gasoline prices hammered demand for
big sport utility vehicles and industrywide sales slumped to
their slowest pace in seven years.
CORRECTED: EA profit declines, shares up
Reuters - Please read in paragraph 1 and paragraph 6 ... fiscal 2006
... instead of ... fiscal 2005.
Stocks dip on Dell, more rate hikes seen
Reuters - U.S. stocks fell on Tuesday, dragged
lower by technology shares after a disappointing outlook from
Dell Inc. , and as the Federal Reserve indicated it
will keep raising interest rates.
EA tops estimates, shares rise
Reuters - Electronic Arts Inc. ,
the world's biggest video game maker, on Tuesday posted a drop
in quarterly profit but beat Wall Street expectations and
backed its earnings forecast for the full fiscal year, sending
shares up about 2 percent.
Jury Begins to Deliberate Vioxx Case
After seven weeks of often heated legal wrangling, a jury began deliberations in Humeston v. Merck, the second Vioxx-related lawsuit to go to trial.
Vanguard Triples Minimum on Some Accounts
AP - For the first time in nearly a decade, The Vanguard Group is raising the minimum amount required to open individual retirement accounts and custodial accounts for minors on most of its mutual funds.
Mazda sees H2 Europe retail sales up
Reuters - Japanese auto maker Mazda Motor Corp.
(7261.T) expects its retail sales in Europe for the second half
of this business year to rise more than 15 percent after a 3
percent fall in the first half, a company official said on
Wednesday.
Big Drop in October for Detroit
Hurt by imports, General Motors, Ford and Chrysler held their lowest shares of the American automobile market ever in October.
The Fed Lifts Rates Again, Despite Rise in Fuel Price
Undaunted by hurricanes and higher oil prices, the Federal Reserve raised short-term interest rates for the 12th time in a row.
Beyond Gasoline: Taking the Future for a Drive
The Spallino family is the first in the world to drive a car powered by hydrogen fuel cells, the technology that many automakers see as a solution to energy woes.
Microsoft to Offer Web Services, Competing With Google and Yahoo
Microsoft introduced two new advertising-supported Web services, Windows Live and Office Live, as a direct response to competitors' challenges.
Aetna to Pay for Program to Manage Depression
Prompted in part by employers who cite depression as a cause of absenteeism and low productivity, Aetna will begin paying for a depression management program.
Mixed Reports on the Economy
By The Associated Press.
Cox to Sell Cable TV Systems
Cox Communications agreed to sell cable television systems to Cebridge Connections in a deal that would more than triple Cebridge's customer base.
Video Games Are Facing Soft Demand
Electronic Arts became the second major video game maker this week to warn that it was seeing soft demand from retailers as it heads into the holiday season.
Qwest Loss Narrows in Quarter
Qwest Communications reported a smaller loss for the third quarter and announced a tentative $400 million settlement of shareholder lawsuits.
UBS Posts 71% Profit Increase on Rise in Oil-Related Wealth
Europe's largest bank reported a 71 percent increase in third-quarter profit, benefiting from a boom in oil-related wealth in the Middle East and Asia.
E.D.S. Shifts to a Profit
The Electronic Data Systems Corporation reported a third-quarter profit after it worked out differences with the federal government on a huge Naval contract.
Medco Earnings Rise 33%
NEWARK, Nov. 1 (AP) Medco Health Solutions, a pharmacy benefits management company, said Tuesday that its third-quarter profit rose 33 percent, helped by a tax benefit and new clients.
A Knight Ridder Shareholder Demands That Chain Be Sold
The demand came from Private Capital Management, a money management firm, citing a 14 percent decline in the stock of the company.
Advertising: Skewering Tradition to Sell a New Battery to the Young
Panasonic is betting that offbeat characters called Oxymites can help pull off a mighty feat: persuade younger consumers to buy a new brand of battery.
Square Feet: Trading the Car for the Train
Los Angeles may be the car capital of America, but there is a growing interest in mixed-use complexes near - or right on top of - transit stations.
Profit Higher For P.& G. and Colgate
By Bloomberg News.
Marsh's Net Rises While Sales Drop
By The Associated Press.
Market Place: Copper's Recent Declines Stir Talk of Boom's End
With the copper rally stuttering in recent weeks, some analysts and investors say they see signs that a bubble is about to burst.
InterActive Profit Off
IAC/InterActiveCorp, the television and Internet-services company, said that third-quarter profit fell 25 percent on costs of spinning off the Expedia travel business.
Acquisitions Help to Narrow Loss at Sun
The maker of computer servers and software reported that its quarterly revenues rose slightly as it benefited from two acquisitions.
ATA Expects to Stop Flights From Its Hometown in January
CHICAGO, Nov. 1 - ATA Airlines, once the busiest carrier in Indianapolis but shrinking during bankruptcy proceedings in the last year, said yesterday that it would cancel its last three daily flights out of the city, which is its headquarters, as of Jan. 10.
Toshiba Takes a Risk to Push Its DVD Technology
In the battle over the next generation of DVD players, Toshiba is encouraging low-cost Chinese competitors to crank out machines using its standard.
Judge Deals a Setback to Grasso
A New York state judge indicated yesterday that he would deny a motion by Richard A. Grasso, the former New York Stock Exchange chairman, to limit a lawsuit that seeks the return of more than $100 million of Mr. Grasso's compensation.
Ex-Official at Wal-Mart Wins Ruling
A judge in Arkansas yesterday tossed out part of Wal-Mart's lawsuit against its former vice chairman, Thomas M. Coughlin, citing an agreement that bars the former executive and the company from suing each other. Mr. Coughlin has been accused by Wal-Mart of misusing up to $500,000 of company money.
Revision of 24-Year Prison Term Ordered in Accounting Fraud
HOUSTON, Nov. 1 - Jamie Olis, a former midlevel executive at Dynegy who was sentenced last year to 24 years in prison for accounting fraud, can breathe a little easier.
Viacom, Preparing to Divide Itself, Exceeds Profit Forecast
Viacom's revenue also rose, led by strong results at its cable networks unit, which includes MTV and Nickelodeon.
An Elevator to Your Floor, With No Local Stops
The best way to see the future of New York elevators may be to visit the Marriott Marquis Hotel, the behemoth in Times Square.
Shares Slip on Dell's Forecast of Weakened Earnings
By The Associated Press.
Volcker Warns Inflation May Become Problem
AP - Former U.S. Federal Reserve chairman Paul Volcker warned Tuesday that inflation may be getting out of hand 'and the United States better watch out.'
Mazda H1 op profit jumps 12 pct
Reuters - Japan's Mazda Motor Corp. outpaced
expectations with a 12 percent jump in half-year operating
profit even as a supply bottleneck kept sales in check, and it
lifted its full-year forecast thanks to a weaker yen.
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