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CompareCC News Archive Listing for Business during 2008-11-06.
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I.B.M. Has Tech Answer for Woes of Economy
 
The company?s chief executive is to propose a technology-fueled economic recovery plan that calls for investment in more efficient systems for various public services.
Molson Coors takes interest in Foster's
 
Reuters - North American brewer Molson Coors Brewing Co has emerged as holder of a 5 percent stake in Australian brewer Foster's Group Ltd , giving it a seat at the bar amid persistent takeover talk.
U.S. approves loan rules, auto execs lobby for more
 
Reuters - The Bush administration cleared the way for distressed automakers to access up to $25 billion in loans for making more fuel efficient cars, but red tape could still constrain the flow of money and industry is pressing for more aid now to survive.
Asian Markets Retreat Sharply
 
Asian stock markets declined across the board as investors shrugged off the excitement of the U.S. elections, and European equities were expected to follow.
IMF approves $16.4bn Ukraine loan
 
The IMF approves a $16.4bn loan to Ukraine to bolster its economy, which has been shaken by the global financial turmoil.
Economy worries push stocks down
 
Concerns about the state of the world economy send Asian shares sharply down, reversing gains made after the US election.
New car sales facing sharp fall
 
Sales of new cars dropped sharply in October, figures from the Society of Motor Manufacturers and Traders are expected to show.
Toyota slashes forecasts as global crisis bites
 
Reuters - Japan's Toyota Motor Corp (7203.T) more than halved its profit forecasts, saying annual net earnings will plunge to a 9-year low as a financial crisis batters demand for its cars, cuts access to credit and sends the yen higher.
Recession fears slam global stocks
 
Reuters - Asian stocks slumped 7 percent and commodity-related currencies tumbled on Thursday as more evidence that the U.S. economy is shrinking made investors brace for a potentially deep and prolonged global recession.
Asian Markets Retreat Sharply, and Europe Is Down
 
Asian stock markets retreated broadly as investors shrugged off the excitement of the U.S. elections, and European equities followed suit.
Toyota?s Quarterly Earnings Drop 69%
 
Toyota slashed its earnings forecast for the full year to less than a third of what it was the previous year.
Toyota slashes profits forecast
 
Japanese car firm Toyota shocks analysts by announcing a 69% fall in quarterly profits and its 2008 profit forecast.
Economy worries push stocks lower
 
Concerns about the state of the world economy send Asian and European shares sharply down, reversing gains made ahead of the US election.
UK new car sales in sharp decline
 
Sales of new cars in the UK fell in October at their fastest rate for 17 years, figures from the industry show.
Bovis warns of tough conditions
 
Housebuilder Bovis says the current trading environment is the worst for many years.
Jobs risk as airline axes flights
 
UK airline BMI is to stop long-haul flights from Manchester Airport, putting up to 140 jobs at risk.
InBev sticks to Bud deal as results beat forecasts
 
Reuters - World number two brewer InBev insisted on Thursday its $52 billion takeover of Anheuser-Busch was on track after third-quarter results slightly exceeded expectations despite rocketing costs.
Toyota Slashes Annual Profit Forecast
 
Toyota Motor slashed its annual profit forecast by more than half, warning of a long downturn in global auto markets.
Eurozone rates lowered to 3.25%
 
The European Central Bank lowers its eurozone interest rates to 3.25% after its latest meeting.
Yahoo tells Microsoft: 'Buy us'
 
Yahoo's co-founder Jerry Yang tells a tech conference Microsoft should reconsider buying the company.
Cathay Pacific in profit warning
 
Shares in Hong Kong carrier Cathay Pacific plunge 14% after it warns of falling revenue and fuel hedging losses.
UK interest rates slashed to 3%
 
The Bank of England slashes interest rates by one-and-a-half percentage points in a bid to stimulate the economy.
Stock futures briefly cut losses on UK rate cut
 
Reuters - Stock index futures briefly trimmed losses on Thursday after the Bank of England slashed interest rates, a move expected to be followed by a cut by the European Central Bank as authorities try to ease the impact of a global recession.
Wal-Mart October same-store sales rise
 
Reuters - Wal-Mart Stores Inc on Thursday reported October same-store sales of $28.565 billion.
Oil extends loss below $64 after UK rate cut
 
Reuters - Oil slipped further below $64 a barrel on Thursday after the Bank of England cut interest rates by an unprecedented 150 basis points, highlighting deepening fears of a demand-crushing global recession.
Many retailers report steep sales drop in October
 
AP - The nation's retailers are reporting what are expected to be the weakest October sales in decades as an intensifying financial meltdown and mounting layoffs leave Americans too scared to shop.
European Banks Cut Rates Sharply
 
The Bank of England cut its benchmark interest rate by 1.5 percentage points and the European Central Bank cut its benchmark interest rate by half a percentage point.
Wal-Mart the Exception as Sales Fall for Retailers
 
The nation?s retailers saw their sales plummet last month to what is likely the weakest October level in decades, as the financial crisis and mounting layoffs left shoppers too scared to shop.
DealBook: Blackstone Posts $502.5 Million Loss
 
The results were a sharp reversal from last year as the private equity firm?s investments were buffeted by the market turmoil that swept the world.
Worker Productivity Slowed in 3rd Quarter
 
Productivity grew at an annual pace of 1.1 percent, down from a 3.6 percent rate in the second quarter, as a huge pullback by consumers threw the economy into reverse.
Cablevision Adds Subscribers and Turns a Profit
 
The cable operator posted a profit of $27.1 million in the third quarter as it added new Internet and phone subscribers.
The other big job
 
Who could be Obama's first Treasury secretary?
Lower Wall St. open seen on Cisco warning, bleak sales
 
Reuters - Stocks headed for a lower open on Thursday as disappointing outlooks from companies including technology bellwether Cisco Systems pointed to a deepening global economic downturn.
October retail sales disappoint as shoppers pull back
 
Reuters - Major retail chains posted disappointing October sales as consumers, stunned by a financial crisis that threatened to derail the U.S. economy, shunned all but the most crucial of purchases.
Jobless claims fell 4,000 last week
 
Reuters - The number of U.S. workers filing new claims for jobless benefits fell by 4,000 last week to 481,000, according to a Labor Department report on Thursday that still showed the job market under severe strain.
Anheuser profit meets view; silent on deal
 
Reuters - Anheuser-Busch Cos Inc reported a quarterly profit in line with Wall Street expectations on Thursday, and remained silent on its planned takeover by Belgium's InBev NV .
A Towering Economic To-Do List for Obama
 
A look at some of the crucial issues that will test the new administration, and how it might address them.
Stocks Fall After Troubling Economic Data
 
Wall Street opened quietly and then turned lower as investors took in more news that the economy was struggling.
IMF cuts economic growth forecast
 
The International Monetary Fund cuts growth forecasts, predicting that developed economies as a whole will shrink 0.3% in 2009.
Slowdown hits Germany's exports
 
The global economic slowdown drastically shrinks the worldwide demand for German goods, official figures show.
Royal Worcester in administration
 
The pottery firm Royal Worcester and Spode, which employs 388 people in the UK, goes into administration.
Wall St extends losses on economic gloom
 
Reuters - Stocks extended their sell-off on Thursday as concerns of a worsening economic downturn were fueled by a disappointing revenue outlook from Cisco Systems and bleak sales from some major U.S. retailers.
Retail sales worst in decade; shoppers cut back
 
Reuters - Retail chains posted the worst monthly sales data in this decade as consumers stunned by a financial crisis that has derailed the U.S. economy cut spending sharply in October.
Retailers See a Broad Slowdown Ahead of Holidays
 
Most of the nation?s retailers reported double-digit declines in October sales, underscoring how the financial turmoil has touched all consumers.
New Report Cites Strains on Energy Supply System
 
The world?s energy system would need substantial investments to meet demand, a global agency said, while warning that urgent action was required to curb carbon emissions.
Economic worries push stocks down
 
Concerns about the state of the world economy send global stocks tumbling, losing their gains from earlier in the week.
Follow the money
 
Fixing the US economy will be a major challenge
Wall St slides on economic gloom
 
Reuters - Stocks tumbled on Thursday with the Dow and S&P 500 down 4 percent as a disappointing outlook from Cisco Systems and bleak sales from some major retailers fueled worries of a deepening economic turndown.
Retail sales worst in decades; holiday view cut
 
Reuters - Retail chains posted the worst monthly sales data in more than three decades as consumers cut spending sharply in October, stunned by a financial crisis that has derailed the U.S. economy.
Fidelity to cut nearly 1,300 jobs
 
AP - Fidelity Investments is cutting nearly 1,300 jobs this month and the mutual fund company says more layoffs are coming early next year.
Stocks Fall on Grim Outlook for Retail Sales
 
Stocks slumped amid a poor outlook for the retail and automobile industries and worries about the state of the labor market.
Report Cites Strains on Energy System
 
The world?s energy system would need substantial investments to meet demand, a global agency said, while warning that urgent action was required to curb carbon emissions.
Top Editor Is Leaving Money Magazine
 
Eric Schurenberg, the managing editor of Money since 2004, will leave this month as part of the shake-up at Time Inc., company executives said.
Wall St yanked lower by economic fears
 
Reuters - Stocks tumbled on Thursday with the Dow and S&P 500 down about 4 percent as a disappointing outlook from Cisco Systems and bleak sales from some major retailers fueled worries of a deepening economic turndown.
Mattel says reducing about 1,000 positions
 
Reuters - Mattel Inc said on Thursday it is reducing about 1,000 positions across company.
Sector Snap: Teen retailers
 
AP - Weak results from teen apparel retailers for October showed Thursday that even teens — along with their parents — are cutting back on spending in the tough economy.
Hospitals See Drop in Paying Patients
 
In a sign of the economy?s toll on the health care system, some hospitals are seeing fewer paying patients ? even as more people show up at emergency rooms unable to pay their bills.
Stocks Fall on Bleak Spending and Jobs Data
 
Stocks slumped amid a poor outlook for the retail and automobile industries and worries about the state of the labor market.
Energy Forecaster Warns of Rebound in Oil Prices
 
The world?s energy system would need substantial investments to meet demand, a global agency said, while warning that urgent action was required to curb carbon emissions.
Disney Says It?s Not Immune From Slowdown
 
Weak results in its movie business and a cooling at domestic theme parks led the Walt Disney Company to report a 13 percent decrease in quarterly income.
Craigslist Agrees to Curb Sex Ads
 
The company reached an agreement with 40 state attorneys general to tame its notoriously unruly ?erotic services? listings.
Company Gets Extortion Letter Over Patient Files
 
Express Scripts, the pharmacy benefit manager, said that it had received an extortion letter threatening to expose millions of patient records.
High & Low Finance: In Financial Rules, Mr. Obama, Proceed With Care
 
Fixing the financial and regulatory systems must be done with well, even if that means delay, and it is something that will be left to the Obama administration, as well as the next Congress.
Shares dive on economic worries
 
Concerns about the state of the world economy send global stocks tumbling, losing their gains from earlier in the week.
Wall Street sinks on retail sales, Disney drops late
 
Reuters - Stocks sold off on Thursday in the worst two-day slide since October 1987 with disappointing corporate outlooks and bleak sales from major retailers fueling fears of a deepening economic downturn.
Disney theme park bookings down, shares slide
 
Reuters - The Walt Disney Co on Thursday said bookings at its theme parks have declined 'considerably' in the last month as the global economy has soured, and its shares slid 9 percent in extended trade.
After October drop, stores face grimmer holidays
 
AP - After enduring the weakest October in at least 39 years, retailers are set to slash prices even more to pull in consumers who went into full retreat last month. That's darkening the outlook for the holiday season, which was already grim.
In Japan, Small Investors Take a Chance and Jump In
 
Tens of thousands of household savers ? many of them first-time investors ? are pouring into the market, seizing the world financial crisis as the greatest buying opportunity in a generation.
Urban sport
 
Meet the banker trying to bring polo to town
Banks under pressure to cut rates
 
Banks are under government pressure to cut their mortgage rates following Thursday's shock cut from the Bank of England.
Citi readies for another round of layoffs: sources
 
Reuters - Citigroup is drawing up lists of employees in a division including investment banking who will be let go in another round of layoffs, people with direct knowledge of the matter told Reuters on Thursday.
Retailers Report a Sales Collapse
 
Most of the nation?s retailers reported double-digit declines in October sales, underscoring how the financial turmoil has touched all consumers.
European Banks Reduce Rates, Some Sharply
 
The European Central Bank reduced its benchmark rate by a half percentage point, while the Bank of England cut rates by a startling 1.5 percentage points.
Small Investors In Japan Jump In
 
Tens of thousands of household savers ? many of them first-time investors ? are pouring into the market, seizing the world financial crisis as the greatest buying opportunity in a generation.
In Washington, Automakers Plead for Aid
 
One day before G.M. and Ford are expected to report bleak quarterly results, auto executives pleaded in Washington for more federal aid.
Once Sizzling, China?s Economy Shows Rapid Signs of Fizzling
 
Just as China attained supercharged growth that astounded much of the world, it appears to be slowing more sharply and more quickly than anyone anticipated.
Blackstone Group Reports $500 Million 3rd-Quarter Loss
 
The results were a sharp reversal from last year as the private equity firm?s investments were buffeted by the market turmoil that swept the world.
Losses Mount, Fears Overwhelm, and a Life-Ending Decision Is Made
 
As markets continue to tumble worldwide, some experts predict suicide could increase as those who once enjoyed the fruits of a global asset boom watch their fortunes evaporate.
Agency Predicts a Return Of Triple-Digit Oil Prices
 
The world?s energy system would need substantial investments to meet demand, a global agency said, while warning that urgent action was required to curb carbon emissions.
Advertising: Client Cutbacks Bring Agency Layoffs
 
As consumers cut back spending, companies are reducing their ad budgets or shifting to lower-cost alternatives like e-mail marketing and public relations.
Breakingviews.com: Using Restraint With Bailouts
 
Governments should make the banking bailouts so unpleasant that other industries ? automakers, retailers or struggling media groups ? will hesitate to request the aid.
F.B.I. Looks Into a Threat To Reveal Patient Data
 
Express Scripts, the pharmacy benefit manager, received an extortion letter threatening to expose millions of patient records.
Top Arkansas Court Rules Against Payday Lenders
 
A 1999 state law allowing so-called payday lenders to charge high fees for short-term loans violates the State Constitution, the Arkansas Supreme Court ruled.
Slowdown Begins to Show at Stalwart Disney
 
Weak results in its movie business and a cooling at domestic theme parks led the Walt Disney Company to report a 13 percent decrease in quarterly income.
Deutsche Telekom Posts Higher Profit
 
Deutsche Telekom reported a strong jump in third-quarter net profit on Thursday, helped by lower taxes and a cost-cutting program.
High & Low Finance: Proceed With Care, Mr. Obama
 
Fixing the financial and regulatory systems must be done with well, even if that means delay, and it is something that will be left to the Obama administration, as well as the next Congress.
Japanese index falls more than 7%
 
Japan's Nikkei index opens down more than 7% following a day of sharp falls across global financial markets.
Economic downturn hits Disney, shares slide
 
Reuters - The global economic downturn hit Walt Disney Co's quarterly results harder and faster than Wall Street expected, with the company on Thursday reporting a sharp decline in hotel bookings and softness in advertising revenue at its networks.
Bleak Reports Keep Markets in Free Fall
 
Stocks slumped amid a poor outlook for the retail and automobile industries and worries about the state of the labor market.
Google and Yahoo Say Deal Would Have Survived a Suit
 
Google chose to abandon the controversial plan after the Justice Department said it would file an antitrust suit to block it. Yahoo said it would have preferred to defend the deal in court.
Wary of Global Downturn, Toyota Cuts Profit Forecast by More Than Half
 
Toyota Motor slashed its annual profit forecast by more than half, warning of a long downturn in global auto markets.
Worker Productivity Slowed as Consumer Spending Fell
 
Productivity grew at an annual pace of 1.1 percent, down from a 3.6 percent rate in the second quarter, as a huge pullback by consumers threw the economy into reverse.

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