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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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