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Retail Group Raises Forecast for Holiday Shopping Season
With gas prices falling, the National Retail Federation yesterday raised its sales forecast for the holiday shopping season, a rare upward revision for the generally cautious trade group.
Google's Shopping Service to List User's Local Stores
Google plans to move quickly to capitalize on its new Google Base database service, adding a feature that lets merchants provide local shopping information.
Heart Device Subpoena
By Bloomberg News.
Asian chips down after Intel news
Shares in Asian chipmakers Samsung and Toshiba fall sharply after rivals Intel and Micron sign a joint deal.
Airbus boss talks down Boeing jet
The boss of Airbus parent firm EADS insists Boeing's longer 747 jumbo will not hit sales of its own twin-deck A380.
Advertising: Agency Decides It's Time to Get a Chief
Cliff Freeman & Partners is hiring a chief executive to help attract clients seeking campaigns that go beyond the realm of traditional media.
WTO giants to meet amid deadlock
Top negotiators are to meet in Geneva in an effort to break the deadlock over world trade negotiations.
Adecco's chief executive departs
Adecco boss Jerome Caille leaves the firm with immediate effect, a week after disappointing results.
Hilton sells 15 hotels for £382m
Leisure firm Hilton Group sells 15 UK hotels to Managed Hotels Unit Trust, and says it plans to sell further sites.
Easyjet overcomes fuel increases
Budget airline Easyjet sees profits rise by 9% to £68m during the 12 months to September, despite soaring fuel costs.
IMF warns on cost of China's boom
China needs to move from an investment-led boom to greater emphasis on consumption, the IMF says.
Big Brother firm shares to float
Endemol, the firm behind the TV show Big Brother, heads for the stock market after its parent firm sells a 22% stake.
Carlsberg jobs go in UK shake-up
Danish brewer Carlsberg cuts 70 UK posts as part of a restructuring in the face of 'challenging' trading conditions.
Shares float in Big Brother firm
Shares in Endemol, the firm behind Big Brother, rise 3.6% after they debut on the Dutch stock market.
Conrad Black faces court hearing
Media tycoon Conrad Black is expected to appear before a court in Chicago shortly to face 11 fraud charges.
Big growth in mobile phone sales
Worldwide sales of mobile phones rise 22% in the third quarter of 2005 and are forecast to hit 810 million by the end of the year.
UK rebuff for German power firm
Energy company Scottish Power rejects a £10.7bn bid approach from German utility firm E.ON.
Trade blocs hold fresh talks
Top negotiators are to meet in Geneva in an effort to break the deadlock over world trade negotiations.
Sony sued over controversial CDs
Sony's woes over its controversial anti-piracy CD software have deepened with two new lawsuits in the US.
Air Zimbabwe temporarily grounded
Zimbabwe's national airline receives a fuel shipment and resumes flights after all seven of its planes were grounded.
Italy gripped by baby milk scare
Italian police begin seizing 30m litres of Nestle baby milk after tests suggest a possible contamination.
Heinz profit squeezed up by tax rate
Reuters - Packaged foods maker H.J. Heinz Co.
on Tuesday posted higher quarterly profit, boosted by a
resolution of tax liabilities on businesses spun off in 2003.
Hurricane costs buffet Albertsons profit
Reuters - Albertsons Inc. , the No. 2
U.S. grocer, on Tuesday posted lower quarterly profit, dragged
down by higher costs from hurricanes that hit Louisiana, Texas
and Florida during the period.
Chip maker shares tumble on rival deal
Reuters - Shares of Samsung Electronics
(005930.KS), Toshiba Corp. (6502.T) and other chip makers fell
after a deal between two U.S. rivals to produce chips for
digital cameras and music players triggered worries of
increased competition.
Economy goes forward but leaves many behind
USATODAY.com - Ben Harris' expenses are rising faster than his paycheck. A 26-year-old technician at Jackson National Life Insurance in Lansing, Mich., Harris is an hourly employee who usually receives a 3% annual raise, plus a bonus.
U.S. stock futures decline
Reuters - U.S. stock futures pointed to a lower
market opening on Tuesday as oil prices rebounded, raising
concerns about the impact of higher energy costs on the U.S.
economy.
Spitzer drops indictment in market-timing case
USATODAY.com - Eliot Spitzer, the New York attorney general who has made a career out of attacking abusive Wall Street practices, dropped a criminal indictment against a former CIBC executive who had been accused of aiding a mutual fund market-timing scheme.
Mothers Work posts wider quarterly loss
Reuters - Mothers Work Inc. , a retailer
of maternity clothing, on Tuesday reported a larger quarterly
loss.
Gas price surge shows no slowdown
The wholesale price of gas rises to its highest level since March as the government says it will challenge EU suppliers.
Heinz profit beats estimates
Reuters - Packaged foods maker H.J. Heinz Co.
on Tuesday posted better-than-expected quarterly
profit, helped by acquisitions and a lower tax rate.
Albertsons quarterly profit hit by storms
Reuters - Albertsons Inc. , the No. 2 U.S.
grocer, on Tuesday said quarterly profit fell 30 percent,
missing Wall Street's expectations, as higher costs from
hurricanes and pressure from discount retailers such as
Wal-Mart weighed on results.
Deere earnings fall almost 35 percent
Reuters - Farm equipment maker Deere & Co.
reported lower quarterly profit on Tuesday as low farm
commodity prices depressed its machinery sales in the United
States, and said that trend would continue into next year.
Stocks decline as crude prices rebound
Reuters - U.S. stocks fell at the start of
trading on Tuesday, as an increase in oil prices renewed
worries about the impact of higher energy costs on corporate
profits.
US judge delays Conrad Black case
Court proceedings against media tycoon Conrad Black - accused of 11 counts of fraud - are adjourned by a court in Chicago.
Fuel crisis disrupts Air Zimbabwe
Flights on Zimbabwe's national airline are still not back to normal after a fuel shortage grounded the whole fleet.
GM stock falls day after cost-cuts notice
Reuters - Shares of General Motors Corp.
fell more than 3 percent on Tuesday as analysts remained
skeptical of a turnaround at the auto giant after it announced
plant closings and job cuts that would save billions of
dollars.
Holiday gift spending to ease: Survey
Reuters - U.S. holiday gift spending will likely
fall slightly this year and stores will have to offer discounts
to satisfy shoppers hunting for bargains, according to a survey
released on Tuesday.
Albertsons profit falls
Reuters - Albertsons Inc. , the No. 2 U.S.
grocer, on Tuesday said quarterly profit fell 30 percent,
missing Wall Street's expectations, as higher costs from
hurricanes and pressure from discount retailers such as
Wal-Mart weighed on results.
Dow slips as oil gains
Reuters - U.S. blue-chip stocks were lower on
Tuesday as a jump in crude oil prices reignited worries about
the effect of energy costs on consumer spending and corporate
profits, while the Nasdaq index was little changed, with
semiconductor stocks limiting losses.
MEPs 'pressured' over chemicals
Manufacturers used scaremongering tactics to persuade MEPs to vote against banning harmful gases, a politician has complained.
Doubts remain over GM's future
General Motors shares fall more than 3% as analysts voice concerns over the car maker's long-term survival.
Baby milk scare widens in Europe
Nestle orders the recall of baby milk from four countries after tests suggest chemical contamination.
Techs rise with semiconductors
Reuters - U.S. technology shares rose on
Tuesday, fueled by gains in semiconductor stocks after a deal
between chip makers Intel Corp. and Micron Technology
Inc. , while blue-chip stocks were little changed.
Warner Music Settles With Spitzer on Radio Payoffs
The country's No. 3 record company agreed today to cease using pricey gifts and promotional giveaways to buy radio airtime for its artists.
Fed hints at end to US rate rises
The US Federal Reserve may soon consider an end to its current cycle of rate rises, minutes from its recent meeting show.
Fed mulling language on interest rates
Reuters - Federal Reserve policy-makers
worried about inflation risks at their meeting on November 1,
but were mulling how to lay the groundwork for ending a
rate-rise cycle that has lasted for a year and a half, meeting
minutes released on Tuesday showed.
GM needs product appeal: Analysts
Reuters - In an industry where 'product is king,'
General Motors Corp. is in dire need of attractive new
vehicles to rule the road, analysts say, mostly dismissing a
move by the ailing auto giant to cut jobs and close plants to
save billions of dollars a year.
Stocks rise on FOMC rate view
Reuters - U.S. stocks rose on Tuesday as minutes
from the most recent meeting of the U.S. Federal Reserve's
policy-setting committee suggested that the Fed may be looking
at ways to end its recent cycle of interest-rate hikes.
Bankrate Banking on M&A
The Motley Fool - Online banking marketplace Bankrate (Nasdaq: RATE - News) has shown strong results lately, including in its most recently ended quarter. CEO Tom Evans has overseen what he has called a 'building year' that has included online redesigns and new revenue sources, while the company's stock price has increased over the past year from $12 to more than $31. Now, to continue the growth trend, Bankrate is looking toward making some acquisitions. The company announced two deals this week.
WTO 'won't agree deal in China'
Key WTO members admit they will not be able to agree a framework for a trade deal at talks in Hong Kong.
Fed mulls how to halt rate-rise cycle
Reuters - Federal Reserve policy-makers
worried about inflation risks at their meeting on November 1,
but were mulling how to lay the groundwork for ending a
rate-rise cycle that has lasted for a year and a half, meeting
minutes released on Tuesday showed.
Deere earnings fall but beat estimates
Reuters - Farm equipment maker Deere & Co.
reported lower quarterly profit on Tuesday as farmers
cut back on machinery purchases, but its results beat Wall
Street's lowered expectations by a wide margin.
Stocks up as Fed mulls end to rate hikes
Reuters - Stocks ended higher on Tuesday, with
the S&P 500 rallying for a fifth consecutive day, after minutes
from the Federal Reserve's last policy meeting showed members
are considering how to prepare for the end of the
interest-rate-raising cycle.
Wal-Mart, Target Ready for Holiday Battle
AP - The slim tunics and velvet blazers on Wal-Mart's clothing racks this holiday season are more than the latest trendy fashions — they're a sign that the intense competition between the world's largest retailer and its upscale discount rival is ratcheting higher.
Big Brother firm rises at debut
Shares in Endemol, the firm behind Big Brother, close above their offer price at the end of their first day of trading on the Dutch market.
Moody's may cut Ford ratings deeper
Reuters - Moody's Investors Service said on
Tuesday it may cut its ratings on Ford Motor Co. deeper
into junk territory, citing sharply lower demand for the
company's trucks and sport utility vehicles.
Refco tries to stop stake dilution
Reuters - Bankrupt futures brokerage Refco Inc.
said on Tuesday it was seeking an injunction in a
Swiss court to stop a majority-owned online foreign exchange
broker from diluting its 51 percent stake.
Groups Clash on Bush Fuel Economy Proposal
AP - Automakers said Tuesday they support the direction of a Bush administration proposal to revamp fuel economy rules for pickup trucks, minivans and some sport utility vehicles, saying it would improve fuel economy and provide more equity in the marketplace.
Stocks up, Fed hints rate hikes may end
Reuters - U.S. stocks rallied on Tuesday, taking
the S&P 500 and the Nasdaq to their highest closes in 4-1/2
years, after minutes from the Federal Reserve's November
policy-setting meeting hinted at a possible end to its series
of interest-rate hikes.
Warner Settles With Spitzer on Radio Payoffs
The country's No. 3 record company agreed today to cease using pricey gifts and promotional giveaways to buy radio airtime for its artists.
Oil prices near $59 on storm fear
Oil prices near the $59 mark amid fears that a snow storm in the north-eastern US could trigger strong demand.
US Airways raises $189 mln
Reuters - US Airways Group Inc. said
on Tuesday it had raised $189 million from a September public
stock offering to help finance its operations but warned of
significant liabilities from post-merger costs.
Delphi Chief Fights Battle of Detroit
With the Delphi Corporation in bankruptcy proceedings, the company's chief executive has confronted its unions in a way that Detroit has rarely seen.
2nd Music Settlement by Spitzer
The Warner Music Group settled with the New York attorney general to resolve allegations that it made payoffs to persuade radio programmers to play certain songs.
Market Place: The Deal That Even Awed Them in Houston
Texas Genco has accomplished a deal so ambitious in its scale that it has caused jaws to drop in Houston's energy circles.
Back to Basics at Wal-Mart: Spare No Rivals
Kind and gentle didn't work for Wal-Mart last holiday - so now it's giving the cutthroat approach another try.
Advertising: Titans of Tie-Ins, Buoyed by Attention
More marketers are seeing the Macy's Thanksgiving Day Parade as a launching pad for promotional campaigns, including product tie-ins involving movies and merchandise.
Hockey in June. Mistletoe in October. Fruitcakes Are Forever.
Years ago, Santa Claus would not have dared show his whiskered face in stores until the fourth Friday in November. But that was before the holiday shopping season became as elastic as his waistband.
Record for Big Board Seat
By Reuters.
A Hint That Fed's Rate Increases May End Soon
WASHINGTON, Nov. 22 - The Federal Reserve offered its first hint on Tuesday that its long series of interest rate increases could be drawing to an end. Some analysts said the minutes confirmed that the Fed was closing in on a 'neutral' rate that neither stokes inflation nor slows economic growth.
German Utility Abandons Plan to Acquire Scottish Power
Germany's giant power and gas company E.ON said that it was abandoning plans to take over Scottish Power after its $19.4 billion offer was rebuffed.
Income Off 35%, but Deere Tops Expectations
By Bloomberg News.
After Shedding Debt, Satellite Maker Exits Bankruptcy Protection
By Bloomberg News.
The Trade-Offs in Zoning Trade-Offs
It has become common in New York City for real estate developers to offer public amenities in exchange for the right to put up buildings that are taller than the zoning ordinarily would allow or to garner public support for projects that might stir controversy. But those amenities - parks, plazas or atriums, for example - sometimes fail to live up to expectation, fall into disrepair and are occasionally scrapped altogether.
Six Flags Shareholder Declares Victory
By Reuters.
The Xbox Has Arrived; Let the Game Playing Begin
People across the country gathered in the rain and stood in line all night to buy Microsoft's Xbox 360, the much-publicized next generation of video game consoles.
Ex-Cable Official Set to Plead Guilty
Michael J. Rigas, the former executive vice president of Adelphia Communications, is scheduled to plead guilty.
Times Columnist Wins Book Award
A book written by Thomas Friedman, an Op-Ed columnist, won the inaugural Financial Times and Goldman Sachs Business Book of the Year Award.
Earnings Increase 2% at Heinz, Helped by a One-Time Gain
PITTSBURGH, Nov. 22 (AP) - The H. J. Heinz Company reported Tuesday that its second-quarter earnings edged up 2 percent thanks to a one-time gain, and said that it was close to selling several underperforming European businesses.
Shares Turn Positive on Hint Fed May Soon Shift Policy
By The Associated Press.
Sovereign Revises Deal With Santander
By Reuters.
A Jolt of Caffeine, by the Can
Caffeinated energy drinks are the fastest-growing sector of the $93 billion domestic beverage industry, but are some youths hooked?
[TS] Executive Pay at Delphi Is Challenged
The lead plaintiffs in a class-action lawsuit against the Delphi Corporation yesterday asked the judge overseeing the company's bankruptcy to reject a proposed $110 million executive pay plan.
Guidant Settles Suit on Death of Recipient of Heart Device
The maker of defibrillators has agreed to settle a lawsuit over the death of a 21-year-old man who used a company-made heart device that failed.
Chief of Quanta Capital, a Reinsurer, Resigns After Storm Losses
By Bloomberg News.
NASD Awards $2 Million in Bias Case
By Dow Jones/AP.
Black's Arraignment Postponed a Week
The arraignment of Conrad M. Black, the former chairman of Hollinger International, was postponed to give him more time to choose who will represent him.
Web Site Agrees to Help Curb Access to Movies
The creator of software used to download movies agreed to prevent his Web site from linking to illegally available movies online.
Judge Restricts Use of Calpine Money
By Bloomberg News.
Boston Bank Is Fined Over Bond Trades
A unit of the State Street Corporation, a Boston bank, was fined $1.4 million yesterday by NASD for its failure to report thousands of corporate and municipal bond trades over a 17-month period.
Another Day of Trade Talks, but the Same Old Impasse
Trade officials from the U.S., Europe and leading developing countries were again unable to move ahead in global trade talks.
U.S. to Accept Nafta Ruling to Cut Duties on Lumber
The Commerce Department said on Tuesday that it would substantially reduce hefty duties on Canadian softwood lumber.
Bush Spoke of Attacking Arab News Channel, British Tabloid Says
Al Jazeera urged an investigation into a report that Prime Minister Tony Blair had dissuaded President Bush from bombing the station's headquarters.
Square Feet: March of the Malls
Some are wondering if the outlet-heavy Mills Corporation, a fast-growing real estate investment trust, is a victim of its success.
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