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CompareCC News Archive Listing for Business during 2007-04-16.
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Microsoft Urges Review of Google-DoubleClick Deal
 
Microsoft contends that Google?s $3.1 billion deal to buy DoubleClick would hurt competition in the online advertising market.
Public Rebuke for Wolfowitz, but He Digs In
 
The World Bank?s oversight committee questioned Paul D. Wolfowitz?s leadership in a blow to his efforts to stay on.
Student Lender to Pay $2.5 Million Settlement
 
Education Finance Partners has agreed to pay $2.5 million to resolve an investigation of its practices by the New York attorney general.
Best-Informed Also View Fake News, Study Says
 
Respondents who knew the most about what?s going on were likely to be viewers of programs like Jon Stewart?s ?The Daily Show.?
Now on YouTube: The Latest News From Al Jazeera, in English
 
YouTube will become an easy way to view content from Al Jazeera English, the English-language version of the TV news station.
5 Firms Compete for $10 Billion Gas Project
 
At least five international energy companies submitted bids for a giant sour gas project in the United Arab Emirates.
Imus Fracas Becomes a Draw in Play?s Revival
 
The producers of ?Talk Radio,? the Broadway play are using the Don Imus controvery to sell more tickets.
Drilling Down: Japanese, at Times English, Rules the Blogs
 
What is the Internet?s most blogged in language? English and Japanese have leapfrogged each other in the last couple of years.
Wolfowitz future still in balance
 
Embattled World Bank head Paul Wolfowitz still faces calls to quit despite a defiant vow to stay.
Negotiators Say Sallie Mae to Be Sold for $25 Billion
 
The nation?s largest education lender agreed to be sold to JP Morgan Chase, Bank of America and two private equity firms.
Yen hits record low against euro
 
The yen hits a record low against the euro after the currency's weakness was not singled out by G7 ministers.
Profits rise at merger target ABN
 
Bid target ABN Amro releases its first-quarter results 10 days early, posting a 31% rise in profits.
Clear Channel bidders suggest sweeter offer: source
 
Reuters - The buyout groups bidding for U.S. radio operator Clear Channel Communications Inc. have suggested sweetening their offer by allowing shareholders to co-invest in the firm, as a key vote on the deal approaches, a source close to the situation said on Sunday.
Sallie Mae agrees to be sold for $25 billion: paper
 
Reuters - Sallie Mae, the largest U.S. student loan company, has agreed to be bought by two private-investment funds along with JPMorgan Chase & Co and Bank of America Corp. for $25 billion, the Wall Street Journal reported on its Web site on Monday.
ABN gives early Q1 numbers as merger talks intensify
 
Reuters - ABN AMRO, which has been in merger talks with Barclays for nearly a month, reported double-digit earnings gains on Monday as a rival consortium of bidders expressed interest in the bank.
UK companies 'dominating Europe'
 
UK companies generate more than a third of the profits made by Europe's 750 top firms, the government says.
Global growth to cushion U.S. econ: Bloomberg
 
Reuters - Former Federal Reserve Chairman Alan Greenspan was quoted as having played down his earlier concern about a possible U.S. recession, saying the world economy would provide a cushion, Bloomberg reported on Monday.
Adobe unveils Flash video control
 
Adobe unveils a version of Flash which allows control of video use, as Microsoft launches a competitor.
Sharp jump in factory gate prices
 
UK factory gate prices rise sharply, prompting analysts to predict interest rates may go up again to contain inflation.
Citigroup first-quarter profit falls
 
Reuters - Citigroup Inc. , the largest U.S. bank, said on Monday that first-quarter profit fell, hurt by a restructuring charge largely for the elimination of 17,000 jobs.
Wachovia first-quarter profit rises
 
Reuters - Wachovia Corp. , the fourth-largest U.S. bank, on Monday said first-quarter profit rose, helped by growth in lending income and the acquisition of Golden West Financial Corp.
Eaton posts higher quarterly profit
 
Reuters - Diversified manufacturer Eaton Corp. on Monday posted a higher first-quarter profit on stronger-than-expected demand in all its businesses and raised its full-year profit outlook.
Stocks seen up as Citigroup and data eyed
 
Reuters - U.S. stock futures pointed to a higher opening on Wall Street on Monday, as sentiment was upbeat after a positive start to the U.S. earnings season and ahead of Citigroup's results and retail sales data.
Lilly quarterly profit falls, hurt by charges
 
Reuters - Eli Lilly and Co. reported lower first-quarter profit on Monday as special charges offset higher sales of the company's array of prescription medicines.
Optimism grows on outlook for German economy
 
AFP - The run of good news for the German economy, the biggest in Europe, looks set to continue for some time yet, with Bundesbank President Axel Weber arguing on Monday that current growth marks only the beginning of a longer upturn.
Asset sale lifts Philips profits
 
Profits at Philips jump fivefold for the first three months of the year, buoyed by the sale of microchip assets in Taiwan
Rising profits boost ad budgets
 
Company advertising budgets rise to their strongest levels in three years, buoyed by increasing profits, a report says.
Citigroup profit falls 11 pct, but trading surges
 
Reuters - Citigroup Inc. said on Monday that first-quarter profit fell 11 percent, hurt by a charge to eliminate 17,000 jobs and slash costs.
Retail sales rise, NY manufacturing edges up
 
Reuters - Retail sales rose slightly more-than-expected in March and far more than earlier reported in February while manufacturing in the New York region was weaker than expected after hitting a two-month low, reports out on Monday showed.
Wachovia first-quarter profit rises 33 pct
 
Reuters - Wachovia Corp. , the fourth-largest U.S. bank, on Monday said first-quarter profit rose 33 percent, as commercial lending growth and the acquisition of Golden West Financial Corp. helped offset thinner margins and higher credit losses.
Eaton posts profit, but still sees industry decline
 
Reuters - Eaton Corp. on Monday posted a better-than-expected first-quarter profit on strong demand in all its businesses, and the diversified manufacturer raised its full-year profit outlook.
Banks lead FTSE higher
 
FT.com - London equities made firm gains in opening trade on Monday with the banking sector in focus on consolidation hopes.
US retail sales spike by more than expected
 
AFP - US consumers appeared to regain some of their legendary appetite for shopping last month as retail sales spiked by a more-than-expected 0.7 percent, the government reported Monday.
Sallie Mae to Be Sold for $25 Billion
 
The nation?s largest education lender will be sold to JP Morgan Chase, Bank of America and two private equity firms.
Chavez hosting summit on energy
 
Venezuelan President Hugo Chavez is hosting a South American energy summit in Margarita.
DTI 'may be heading for shake-up'
 
The Department of Trade and Industry could be heading for a restructuring, the trade secretary hints.
Citigroup profit tops forecasts
 
Reuters - Citigroup Inc. said on Monday that first-quarter profit fell 11 percent, hurt by a restructuring charge, yet results topped forecasts on a surge in trading gains.
Wall St surges on Citigroup, Sallie Mae
 
Reuters - U.S. stocks rose on Monday, as investors snapped up financial shares after unexpectedly strong results from Citigroup and news of a $25 billion buyout of student loan company Sallie Mae.
Retail sales rise in March
 
Reuters - Retail sales rose slightly more than expected in March but February sales were much higher than first estimated, pointing to continued strength in consumer demand as the manufacturing sector still falters.
Wal-Mart seen more favorably: survey
 
Reuters - A recent poll conducted by a critic of Wal-Mart Stores Inc. showed that more consumers had a favorable view of the world's largest retailer than a year ago.
Russian pipeline firms to merge
 
Russia's largest oil pipeline firms are to merge, a move seen as further boosting state control over energy assets.
US student loan firm being bought
 
Sallie Mae, the largest provider of student loans in the US, confirms it will be bought by an investment group for $25bn.
Shares rally with Citigroup, Sallie Mae
 
Reuters - U.S. stocks advanced on Monday as Citigroup Inc.'s strong results and a $25 billion buyout of student loan company Sallie Mae boosted sentiment.
Fremont in talks to sell subprime unit, loans
 
Reuters - Fremont General Corp. said on Monday it agreed to sell about $2.9 billion of subprime mortgages and entered into exclusive talks to sell its residential lending business to the same unnamed party, and its share rose sharply.
Retail sales up more than expected
 
AP - Retail sales rose in March at the fastest clip in three months as warmer weather and an early Easter put consumers in a buying mood.
U.S. Treasury bond prices advance
 
AP - U.S. Treasury bond prices rose Monday morning, with hefty gains in the long end of the curve, as investors shrugged off a stronger-than-expected March retail sales report.
Zimbabwe delays inflation figures
 
Zimbabwe delays releasing inflation data amid claims the government is reluctant to admit the scale of price rises.
Consortium acquires Sallie Mae for $25 billion
 
Reuters - Sallie Mae, a student loan company under fire from regulators and lawmakers, said on Monday it had accepted a $25 billion takeover bid from two private equity funds, JPMorgan Chase & Co. and Bank of America Corp.
Citigroup, Wachovia results top forecasts
 
Reuters - Citigroup Inc. and Wachovia Corp. , the first major U.S. banks to report quarterly results, posted higher-than-expected profits on Monday, helped by keeping operating costs down.
Shares gain with Citigroup, Sallie Mae
 
Reuters - U.S. stocks rallied on Monday, helped by Citigroup Inc.'s strong financial results and a $25 billion buyout deal of student loan company Sallie Mae.
NY adds 13 more lenders to student loan probe
 
Reuters - New York Attorney General Andrew Cuomo's office expanded a sweeping investigation into the student loan industry with subpoenas and information requests to 13 more lenders, including some of the largest U.S. banks.
America Movil mulls options after AT&T Italy pullout
 
Reuters - Mexican telecoms firms America Movil and Telmex said on Monday they are weighing their options after partner AT&T pulled out of talks to buy a stake in Olimpia, which controls Italy's Telecom Italia .
Kraft Shifts 6 Brands From Ad Agency
 
JWT has worked for Kraft for eight decades and created two popular commercial jingles for Oscar Mayer.
AT&T drops Italian phone interest
 
AT&T, the US telecoms giant, abandons plans to buy a majority stake in the firm that owns Telecom Italia.
Ethanol dominating energy summit
 
Venezuela's opposition to ethanol production in the region dominates a summit of eight Latin American nations.
New Century says Massachusetts demands papers
 
Reuters - New Century Financial Corp. , the largest U.S. subprime lender under bankruptcy protection, said on Monday Massachusetts' attorney general has demanded documents relating to its lending practices.
Citigroup and Wachovia results top forecasts
 
Reuters - Citigroup Inc. and Wachovia Corp. , the first major U.S. banks to report quarterly results, posted higher-than-expected profits on Monday, helped by keeping operating costs down.
Wal-Mart image slightly better in 2007: survey
 
Reuters - A recent poll conducted by a critic of Wal-Mart Stores Inc. showed that more consumers had a favorable view of the world's largest retailer than a year ago.
Wal-Mart reclaims top spot on Fortune 500 list
 
AFP - US retailer Wal-Mart Stores has dethroned oil giant ExxonMobil from the top position in the Fortune 500 list of America's biggest companies, the magazine announced Monday.
Pound touches 14-year dollar high
 
The pound moves towards the $2 mark, benefiting British tourists but making life more difficult for exporters.
Glasgow hosts whisky conference
 
One of the biggest names in the drinks industry is set to address the international whisky industry in Glasgow.
Google-DoubleClick deal seen spurring Web ad M&A
 
Reuters - Google Inc.'s $3.1 billion purchase of DoubleClick Inc. will create a new powerhouse in digital advertising that could spur a wave of takeovers in the online marketing sector.
Sallie Mae to sell itself in $25 billion LBO
 
Reuters - Sallie Mae, a student loan company under fire from regulators and lawmakers, said on Monday it had accepted a $25 billion takeover bid from two private equity funds, JPMorgan Chase & Co. and Bank of America Corp.
Allstate loses $2.8 mln Hurricane Katrina case
 
Reuters - A federal jury ruled against Allstate Corp. in a "wind versus water" case that awarded a New Orleans area man more than $2.8 million for damage to his home from 2005's Hurricane Katrina.
Profit Off 11% at Citigroup on Expenses of Overhaul
 
Despite the decline, Citigroup showed progress in its expense management and strength in investment banking, and its shares rose 2.6 percent.
U.S. awaits World Bank board on Wolfowitz
 
Reuters - U.S. Treasury Secretary Henry Paulson urged European aid ministers in a weekend meeting to hold off on judging World Bank President Paul Wolfowitz until after the bank's 24-nation board decides on his future, European sources said on Monday.
Big Funds, Not Individuals, Move Stocks
 
Investor's Business Daily - Individual investors tend to overestimate how much impact they have on the stock market.
Managers Use Hedge Funds as Big I.R.A.?s
 
Some hedge fund managers have discovered a way to avoid paying taxes on their huge fees for up to 10 years.
For Illegal Immigrants, Housing Slump Takes Toll
 
Many immigrant workers who rode the construction boom now find jobs on building sites few and far between.
Deal to Make Sallie Mae a Big Debtor
 
The $25 billion buyout has the potential to not only transform Sallie Mae but shake up the entire lending industry.
Fight Seen for ABN; Stock Soars
 
The prospect of a bidding war for ABN Amro is making it difficult for the bank to seal a merger deal with its preferred partner, Barclays.
Market Place: Amgen Seeks to Reverse Its Bad News
 
A series of setbacks at the pharmaceutical giant pose the greatest challenge to its previously charmed 27-year history.
A Renewed Push for Ethanol, Without the Corn
 
Pressure is building to sort out the myriad production problems preventing cellulosic ethanol from becoming a reality.
The Biggest Little-Noticed Hazard
 
The biggest threat to the health of business travelers isn?t crime, terrorism or even bad food. It?s traffic accidents.
AT&T Drops Offer to Invest in Italian Phone Company
 
AT&T is said to have been dissuaded by the intense political pressure in Italy against a sale to a foreign company.

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