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CompareCC News Archive Listing for Business during 2005-11-23.
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Square Feet: March of the Malls, Not Always in Step
 
Some are wondering if the outlet-heavy Mills Corporation, a fast-growing real estate investment trust, is a victim of its success.
Ford lobbies Congress over energy
 
Ford's chief executive urges the US Congress to support carmakers' investment in more fuel-efficient vehicles.
Venezuela gives US cheap oil deal
 
Venezuelan President Hugo Chavez's government agrees a deal to provide cheap heating fuel to low-income Americans.
Scottish Power rejects bid move
 
Energy company Scottish Power rejects a £11.3bn bid approach from German utility firm E.ON.
Oil prices hit $59 on storm fear
 
Oil prices rise above the $59 a barrel mark amid fears that US snowstorms could trigger strong demand.
Arcelor in bid for Canadian firm
 
Steelmaker Arcelor makes a 3bn euro bid for Canada's Dofasco after talks between the two collapse.
S Korea agrees rice import deal
 
South Korean MPs ratify a plan to liberalise the domestic rice market, amid strong opposition from farmers.
Samsung's Apple deal probed
 
Reuters - South Korea is investigating Samsung Electronics Co. Ltd. (005930.KS) over accusations of unfairly low pricing in its supply of flash memory chips to Apple Computer Inc. , regulatory officials said on Wednesday.
Dubai winds down after $23 bln slugfest
 
Reuters - If surging sales were meant to take some of the sting out of the Airbus-Boeing rivalry, someone's forgotten to tell both of the world's biggest planemakers.
Arcelor to make $3.6 bln bid for Dofasco
 
Reuters - Arcelor , the world's second largest steelmaker, is poised to make an all-cash takeover bid for Dofasco Inc. , valuing the Canadian steelmaker at more than C$4.3 billion (US$3.6 billion).
Merck shares hit as boss departs
 
Shares in Merck, the German drugmaker, fall 5% in the wake of the shock departure of its chief executive.
Ford lobbies over energy
 
Ford's chief executive urges the US Congress to support carmakers' investment in more fuel-efficient vehicles.
Iranian MPs reject oil minister
 
Iranian President Mahmoud Ahmadinejad's third nominee for oil minister is rejected by the Iranian parliament.
Christmas spending 'to go down'
 
Christmas spending will decline this year, the first drop in a decade, a survey by accountants Deloitte predicts.
Bank unanimous on UK rate freeze
 
The Bank of England voted unanimously to keep UK interest rates on hold at 4.5% this month, minutes show.
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.
French government agrees air tax
 
The French government approves a new air tax expected to generate about 200m euros each year for development aid.
Merger profits for Air France KLM
 
Rising passenger numbers help Air France KLM shrug off a big increase in fuel prices and report a 50% rise in profits.
Christmas retail spending to drop
 
Christmas spending will fall this year for the first time in a decade, a survey by accountants Deloitte predicts.
Lights 'won't go out' this winter
 
Trade Secretary Alan Johnson says lights across Britain will not go out this winter, despite fears over energy supplies.
S Korea approves rice import deal
 
South Korean MPs ratify a plan to liberalise the domestic rice market, amid strong opposition from farmers.
Consortium ends takeover talks with Drax
 
Reuters - Drax Group Ltd, owner of Europe's largest coal-fired power station, said on Wednesday it ended takeover talks with a U.S. consortium over a 2.23 billion-pound offer and aimed to float next month.
US home loan applications fall
 
Reuters - U.S. mortgage applications fell last week, dragged down by a slump in home refinancings which hit a 16-month low as interest rates remained close to their highest levels this year, industry trade group figures showed on Wednesday.
Arcelor to offer $3.75 bln for Dofasco
 
Reuters - Arcelor, the world's second largest steelmaker, announced an all-cash takeover bid for Dofasco Inc. on Wednesday, valuing Canada's largest steel company at C$4.4 billion Canadian dollars.
Sovereign-Santander backers avoid vote
 
Reuters - United States-based Sovereign Bancorp and Spain's top bank, Santander, won a victory on Tuesday over shareholders opposed to their three-way takeover deal, thanks to a New York Stock Exchange decision.
US stocks set to pause
 
Reuters - U.S. stock futures were little changed, pointing to a flat market opening on Wednesday, amid signs the Federal Reserve may be approaching the end of its rate hike cycle.
Macy's plans its biggest promo
 
USATODAY.com - As Macy's faces the crucial holiday selling season, it's going all-out to trump its competition. Friday, the retailer will kick off its biggest promotion ever - giving away $1 million worth of gift cards in one day.
Vodafone ends Man Utd shirt deal
 
Mobile phone giant Vodafone, which has sponsored Manchester United since 2000, calls time on a four-year shirt deal with the club.
Azeri oil strikers return to work
 
Workers at a US oil company in Azerbaijan return to work after striking in pursuit of better pay and conditions.
November consumer sentiment seen higher
 
Reuters - The final November reading on the University of Michigan's consumer sentiment index is expected to show that consumers' mood improved from October levels, economists said.
Drax says takeover talks end
 
Reuters - Drax Group Ltd, owner of Europe's largest coal-fired power station, said on Wednesday it has ended takeover talks with a U.S. consortium over a 2.23 billion-pound offer and aimed to go ahead with its share flotation next month.
Independence shares up on Sovereign deal
 
Reuters - Shares of Independence Community Bank Corp. rose 4.8 percent in trading before the market opened on Wednesday, a day after a decision put the deal for Sovereign Bancorp to buy Independence back on track.
Stocks slip at open as RIM falls
 
Reuters - U.S. stocks edged lower on Wednesday, with shares of Research in Motion Ltd. , maker of the Blackberry wireless device, falling after it cut its subscriber forecast.
Fuel price dip lifts US sentiment
 
US consumer sentiment recovers from a two month slump, buoyed by falling fuel prices and the effect of recent hurricanes eases.
Arcelor makes $3.75 bln bid for Dofasco
 
Reuters - Arcelor, the world's second-largest steelmaker, made an unsolicited cash takeover bid for Dofasco Inc. on Wednesday, valuing the Canadian peer at C$4.4 billion.
Stocks gain after oil drops
 
Reuters - U.S. stocks rose on Wednesday as a drop in crude prices after the latest inventory data and a report showing stronger-than-expected consumer sentiment raised investors' hopes about healthy household spending before the holiday shopping season.
EMI shares surge 10% on bid talk
 
Shares in the world's third largest record firm rise 10% on rumours that a takeover bid could be imminent.
Economy steadies as holidays start
 
Reuters - U.S. consumers are heading into the holiday season in a much cheerier mood now gasoline prices are easing and the economy appears to be shaking off the impact of Hurricane Katrina, data on Wednesday showed.
Retailers catch a break for Black Friday
 
Reuters - U.S. retailers look set to catch a break just in time for the big Thanksgiving shopping weekend as consumer confidence perks up, gasoline prices fall and stores pile up early-bird specials.
Big oil CEOs mull response to subpoenas
 
Reuters - None of the five major oil companies subpoenaed to testify about record profits and high consumer energy prices at a hearing December 1 in Wisconsin would say this week whether their officers would attend.
Stocks gain after consumer sentiment
 
Reuters - U.S. stocks shot higher on Wednesday as a better-than-expected consumer sentiment reading and a drop in the day's crude oil prices fueled optimism for strong holiday spending and a year-end rally.
Merkel calls for stronger US ties
 
New German Chancellor Angela Merkel calls for stronger ties with the US on her first full day in office.
Niger 'faces second food crisis'
 
Niger faces a second food crisis in the coming months unless world donors give more, a UN agency warns.
Pinochet faces tax fraud charges
 
Chile's ex-military ruler Augusto Pinochet is placed under house arrest and charged with tax evasion.
GM job cuts weigh on state economies
 
Reuters - General Motors Corp.'s plan to cut 30,000 North American manufacturing jobs adds to the bad news for U.S. states already strained from revenue losses as manufacturers shed jobs and operations.
Stocks gain on hopes of holiday spending
 
Reuters - U.S. stocks rose on Wednesday after a drop in crude oil prices and a report showing better-than-expected consumer sentiment set the stage for healthy holiday spending.
EU 'has room to move on tariffs'
 
EU trade chief Peter Mandelson says Europe has room to move on what goods to protect from tariffs at WTO talks next month.
GM, Ford U.S. sales seen down again
 
Reuters - General Motors Corp. and Ford Motor Co., Detroit's downhill racers, will post another big drop in their U.S. sales when they report November results next week, industry analysts said on Wednesday.
Stocks extend rally on consumer hopes
 
Reuters - Stocks rose on Wednesday, extending a week-long rally, after a drop in crude oil prices and a report showing better-than-expected consumer sentiment set the stage for robust holiday spending.
Jobs Outlook Brighter As Energy Prices Fall
 
AP - Falling energy prices have economists believing improvement is on the way for hiring, which has been mired in a hurricane-related lethargy for the last few months.
Kodak Shares Jump After Ending Tax Dispute
 
AP - Shares of Eastman Kodak Co. jumped more than 8 percent Wednesday, a day after the photography-equipment maker reached an income tax-refund settlement with the Internal Revenue Service that will boost its fourth-quarter earnings.
Luxury Items Find Way Into Warehouse Clubs
 
AP - When consumers shop for diamond bracelets this holiday season, BJ's Wholesale Club Inc. probably won't be the first retailer they think of. But luxury goods are finding their way into warehouse clubs and other low-to-moderate price retailers who want to be part of the boom in upscale merchandise.
Oil prices dip as stockpiles rise
 
Oil prices slip back from the $59 a barrel level as US government data shows a larger-than-expected rise in stockpiles.
Refco wins injunction to keep broker
 
Reuters - Bankrupt brokerage Refco Inc. said on Wednesday a Swiss court had granted an injunction to prevent a Geneva-based online foreign exchange broker from diluting its majority stake in the Swiss firm.
Broker accused of insider trading
 
Reuters - The FBI has arrested a former stockbroker and accused him of insider trading using stolen advance copies of Business Week magazine, according to a court complaint released on Wednesday.
Stocks stretch rally on consumer hopes
 
Reuters - Stocks climbed on Wednesday, extending November's rally, after a drop in crude oil prices and a report showing better-than-expected consumer sentiment set the stage for robust holiday spending.
French Firm Ordered to Pay Nearly $190M
 
AP - A federal judge has ordered a French retailer to pay California nearly $190 million plus interest as restitution for its role in the takeover of failed insurer Executive Life.
Black Hills proposes NorthWestern bid
 
Reuters - Energy company Black Hills Corp. on Wednesday said it is proposing to make a bid worth up to $1.25 billion for electric utility NorthWestern Corp., in a move that would trump a previous bid from power consortium Montana Public Power Inc.
Investors Are Buying ETFs As Alternative To Stocks, Mutuals
 
Investor's Business Daily - Money is surging into exchange-traded stock funds. Much of it is coming from traders who got the cold shoulder from mutual funds or are simply looking to get into a market sector without buying individual stocks.
Opponents delay Delphi bonus plan
 
Car-parts firm Delphi delays plans for executive rewards amid union and investor opposition.
Merrill pays out $2m for sexism
 
Three former Merrill Lynch workers win a $2m payout from broker Merrill Lynch for a sex discrimination claim.
Bosses rapped on pensions divide
 
Top company directors retiring early on luxury pensions should stop 'lecturing' average workers on the issue, the TUC says.
Japan stocks near 5-yr high
 
Reuters - The Nikkei share average climbed to its highest level in nearly five years on Thursday, extending its rally into a sixth straight session, as shares in chip-related companies surged on confidence in the industry's recovery.

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