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CompareCC News Archive Listing for Business during 2009-08-04.
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New Leader Tries to Get Toyota Back on the Road
 
Known for reliability, Toyota has a lineup of mundane-looking vehicles that have failed to generate excitement among buyers.
Worst Part of a Trip May Be Booking It on the Web
 
A survey finds that many consumers have grown weary of the often complicated and time-consuming process of planning and booking a trip online.
Stocks and Bonds: Markets Rise on Signs of Economic Growth
 
Reports on manufacturing and housing sent the S. & P. index past 1,000 for the first time since early November.
UBS reports yet another big loss
 
UBS, Switzerland's biggest bank, reports a loss of 1.4bn Swiss francs for the April to June quarter.
Global car sales dive hits Toyota
 
Car giant Toyota reports a loss of 77.8bn yen for the second quarter of 2009 as global car sales slumped.
Northern Rock makes hefty losses
 
Northern Rock reports a loss of £724.2m for the first six months of 2009, compared with a loss of £585.4m last year.
Recovery rally lifts Asia stocks to 11-month high
 
Reuters - Asian stocks climbed to an 11-month high on Tuesday on hopes a V-shaped recovery may be forming in the United States, while the Australian dollar hit its highest since late September after solid housing and retail sales data.
July U.S. retail sales lack back-to-school bounce
 
Reuters - U.S. retailers could post their 11th consecutive drop in monthly same-store sales this week as cool weather, a weak job market, and a lack of tax-free holidays had shoppers picking through the clearance racks in July instead of buying full-priced back-to-school clothes.
UBS remains cautious after Q2 loss, big outflows
 
Reuters - UBS said it remained cautious about its prospects after client withdrawals spurred by protracted U.S. tax litigation dragged the Swiss bank into another big quarterly loss on Tuesday.
Rivalry Between Apple and Palm Intensifies
 
Apple wants its iPhone to be the only cellphone to link effortlessly to its service, but Palm is putting up a fight.
Casino group is hit by downturn
 
Casino group MGM Mirage sees second-quarter profits fall to $212.6m, as the recession hit its US gambling empire.
English club finances worry Uefa
 
Uefa general secretary David Taylor says there is 'significant concern' about the financial state of some English Premier League clubs.
Thomas Cook workers are arrested
 
Twenty employees of the Thomas Cook travel agency, who had been taking part in a sit-in at its offices in Grafton Street, Dublin, have been arrested.
Asian stocks trim gains but recovery hopes remain
 
Reuters - Asian stocks hit an 11-month high on Tuesday before profit taking pulled them back, while the Australian dollar also pared gains after the country's central bank left interest rates unchanged but offered no clues on when tightening would begin.
UBS still losing client money, sees improvement
 
Reuters - Swiss bank UBS posted another big loss in the second quarter as wealthy clients continued to take their cash elsewhere, but there were signs of improvement in its best underlying performance in two years.
BHP Billiton names ex-Ford chief Nasser as chairman
 
Reuters - Global miner BHP Billiton Ltd/Plc has named veteran former Ford Motor Co Chief Executive Jac Nasser as its new chairman to succeed Don Argus, it said on Tuesday.
Toyota Posts $819 Million Loss
 
Sales remain sluggish, but the Japanese automaker trimmed its fiscal year loss forecast by about 18 percent to $4.7 billion.
UBS Posts $1.3 Billion Quarterly Loss
 
Switzerland's biggest bank cited costs linked to its reorganization program and gave a bleak outlook.
BMW Reports 76 Percent Drop in Quarterly Profit
 
The German automaker sold 18 percent fewer vehicles from April to June and said government trade-in programs were not boosting sales of luxury cars. Asia was one bright spot.
RBS Sells Some Asian Assets to ANZ for $550 Million
 
The Royal Bank of Scotland sold Asian assets to Australia and New Zealand Banking Group on Tuesday for $550 million, helping the British lender to raise cash.
Recovery 'not in sight' says BMW
 
Carmaker BMW says there are few signs of a long-lasting recovery as it reports a 76% drop in quarterly profits.
Pound clears $1.70 against dollar
 
Optimism about the banking sector and the UK economy lifts the pound above $1.70 for the first time since October.
Google and Apple not off the hook
 
Eric Schmidt's resignation from Apple's board because of competing products fails to halt a government investigation.
French press farmers to repay aid
 
France says its fruit and vegetable growers will have to start paying back hundreds of millions of euros in subsidies deemed illegal by the EU.
Popular price
 
The software firm that gives away its products for free
Bookie hit as punters stay home
 
Bookmaker William Hill says the uncertain economic times are deterring punters, particularly at weekends.
GM takes more time to negotiate over Opel sale
 
Reuters - General Motors is taking more time to negotiate with Magna (MGa.TO) and RHJ International over the planned sale of its European arm Opel, the U.S.-based company said on Tuesday.
Toyota Restructures, Too, but at Its Own Pace
 
The Japanese automaker is struggling with the aftermath of decisions to emphasize profit over quality.
BMW Reports 76% Drop in Quarterly Profit
 
The German automaker sold 18 percent fewer vehicles from April to June and said government trade-in programs were not boosting sales of luxury cars. Asia was one bright spot.
European Markets Pull Back
 
European stocks fell as mixed corporate earnings led some investors to book profits from recent market highs.
Former Ford Chief Becomes BHP Chairman
 
Jacques A. Nasser will succeed Don Argus as chairman at the mining company.
Archer Daniels Midland Profit Falls on Weak Demand
 
The agribusiness company said that its fourth-quarter results were also pressured by higher corn costs and lower average selling prices.
CVS Caremark Beats Estimates and LIfts Outlook
 
The drugstore operator said its second-quarter profit rose 15 percent, helped by strong pharmacy benefits revenue and a retail sales boost due to a later Easter.
Lower Demand Cuts Into Profit at Duke Energy
 
Second-quarter earnings fell to $276 million as demand for power from industrial customers continued to slide amid the recession.
Standard Chartered to raise £1bn
 
Standard Chartered says it will raise £1bn to take advantage of opportunities in Asia in the wake of the financial crisis
China jobless pose 'grave' crisis
 
China's job outlook remains 'very grave' and could deteriorate further, despite faster economic growth, a senior official says.
All white: What does rise in white shirt sales say about the economy?
 
Sales of white shirts have soared by 60% in 2009, says shirt retailer Charles Tyrwhitt.
Ombudsman urged for supermarkets
 
The competition watchdog recommends the government establish an ombudsman to rule on any disputes on supermarkets and suppliers
Whisky staff facing 100 job cuts
 
Whisky producer Whyte & Mackay confirms plans to cut dozens of jobs at sites across Scotland as part of a major review.
Sausage company doubles profits
 
Scottish sausage-skin maker Devro has more than doubled its profits in the first half of this year, the company announces.
US STOCKS-Futures slip as investors pause after run-up
 
Reuters - U.S. stock futures slipped on Tuesday as investors paused to gauge if the recent run-up will hold, while retreating oil prices looked set to weigh on energy shares.
Oil slips below $71 before expected stock build
 
Reuters - Oil fell more than $1 to below $71 per barrel on Tuesday, paring three days of gains as expectations for a rise in U.S. crude inventories offset optimism over positive U.S. and Chinese manufacturing data.
CVS Caremark 2Q profit tops view, boosts outlook
 
AP - CVS Caremark, one of the nation's biggest drugstore operators, said Tuesday its second-quarter profit rose 15 percent, helped by strong pharmacy benefits revenue and a retail sales boost due to a later Easter.
DealBook: Pepsi Is Said to Make Deal for 2 Bottlers
 
PepsiCo has reached a deal to buy the outstanding shares of its two main bottlers, ending a months-long standoff over price, a person briefed on the matter told DealBook.
U.S. Consumer Spending Rose in June for 2nd Month
 
American consumers spent slightly more as prices rose, and personal incomes sagged as employers continued to cut wages and reduce working hours.
Wall Street Takes a Break After Monday?s Run
 
Some investors are taking advantage of a recent buying trend in equities prompted by positive economic reports.
Driven to Distraction: Cabbies Stay on Their Phones Despite Ban
 
New York City cabbies have been banned from using cellphones for a decade, but the rules remain almost entirely unenforced.
GMAC Financial's Loss Widens to $3.9 Billion
 
The loan provider reported the loss as it transformed from an arm of General Motors into an independent bank.
Bad mortgages widen GMAC losses
 
Losses at finance group GMAC have risen by more than a half after bad debts increased at its mortgage business.
Pending home sales up for 5th straight month
 
Reuters - Pending sales of previously owned U.S. homes rose at a faster-than-expected pace in June, a real estate trade group said on Tuesday, more evidence the housing market was starting to claw out of a three-year slump.
Wall St trims losses after home sales data
 
Reuters - U.S. stocks trimmed losses and the Dow Jones industrial average turned positive on Tuesday after data showed pending sales of previously owned homes rose at a faster-than-expected pace in June.
Housing plan offered help to 15 pct of borrowers
 
AP - Only 15 percent of homeowners eligible for the Obama administration's $50 billion loan modification program have been offered help so far.
DealBook: Pepsi Reaches $7.8 Billion Deal for 2 Bottlers
 
PepsiCo has reached a deal to buy the outstanding shares of its two main bottlers, ending a months-long standoff over price, a person briefed on the matter told DealBook.
Higher Costs Spur Rise in U.S. Consumer Spending
 
Consumers spent more in June because prices of food and energy were rising, not because they were ready to spend freely again.
Former Ford Chief to Become BHP Chairman
 
Jacques A. Nasser will succeed Don Argus as chairman at the mining company.
G.E. Agrees to Pay $50 Million Accounting Fine
 
The company agreed to pay the civil penalty to settle charges that it had misled investors with some fraudulent accounting in 2002 and 2003.
US sees consumer spending growth
 
US consumer spending rose for a second consecutive month, despite rising unemployment, the Commerce Department says.
Wages up for low-paid apprentices
 
The minimum pay rate for apprentices has risen from £80 to £95 a week after the numbers joining schemes dropped.
Stocks turn flat as financials rise
 
Reuters - Stocks traded near break-even on Tuesday as an advance in financial shares offset caution over the sustainability of the market's recent rally.
GE to pay $50 million to settle SEC fraud charges
 
Reuters - General Electric Co will pay a $50 million civil penalty to settle charges that it had misled investors with some fraudulent accounting in 2002 and 2003, the largest U.S. conglomerate said on Tuesday.
PepsiCo to buy bottlers for $7.8 billion
 
Reuters - PepsiCo Inc agreed to buy Pepsi Bottling Group Inc and PepsiAmericas Inc in a sweetened cash-and-stock deal worth $7.8 billion, the second-largest soft drink maker said on Tuesday.
Global automakers beat forecasts, stay cautious
 
Reuters - Leading global automakers reported forecast-beating quarterly results on Tuesday, but continued to give cautious outlooks for the industry, which remains hard hit by weak demand and a lack of consumer credit.
DealBook: S.E.C. to Seek Ban on Flash Orders, Schumer Says
 
Sen. Charles Schumer had requested a ban on a technique that enables some firms to peek at investors? stock orders.
Wall Street Meanders After Monday?s Run
 
Some investors are taking advantage of a recent buying trend in equities prompted by positive economic reports.
E.U. Reasserts Lead in Broadband Connections
 
The continuing development of high-speed Internet could create two million new jobs by 2015, the E.U. telecommunications commissioner said.
Toolkit: And the Next C.E.O. Will Be ...
 
You?re head of the company. And you?ve thought about who your successor will be, right? If not, here are some tips to help make the transition.
U.S. Agency Plans Meeting on Distracted Driving
 
The Transportation Department will convene a meeting about text-messaging and cell phone use while driving.
Stocks lower on profit-taking, but housing brighter
 
Reuters - U.S. stocks edged lower on Tuesday as economic data showing contracts for home sales rose more than expected in June was offset by investors booking profits after the recent rally.
Schumer, Schapiro say "flashes" under the gun
 
Reuters - A U.S. Securities and Exchange Commission ban on so-called flash orders is 'imminent,' a senior lawmaker said on Tuesday -- just before the agency itself said it was drawing up plans to ban the controversial services offered by some stock exchanges.
GE to pay $50 mln to settle SEC fraud charges
 
Reuters - General Electric Co will pay a $50 million civil penalty to settle charges by the U.S. Securities and Exchange Commission that it misled investors with some fraudulent accounting in 2002 and 2003.
PepsiCo deals a welcome windfall for investors
 
Reuters - PepsiCo Inc won over its two largest bottlers by raising its takeover offers more than 20 percent to $7.8 billion, giving investors a welcomed but not unexpected windfall.
Senate Leader Expects to Extend ?Cash for Clunkers?
 
The secretary of transportation and Senate majority leader expressed confidence that the Senate would revived the auto-purchase program.
Square Feet: Bids Start at $300,000 for Chicago?s Huge Old Post Office
 
The Postal Service?s largest vacant property, at 2.7 million square feet, will be auctioned after several proposals to rehabilitate the site for other uses foundered.
A Tight Space for New Rutgers Medical Buildings
 
Two new health education buildings are set on barely an acre of land in New Brunswick, N.J., bounded on one side by Amtrak rails.
Pepsi shares fizz on bottler deal
 
Shares in PepsiCo rise 5% after it agrees to buy its two biggest bottlers - PepsiAmericas and Pepsi Bottling Group.
Wall St edges up with help from financials
 
Reuters - Stocks edged higher on Tuesday as much stronger-than-expected housing data pulled the financial sector higher, extending the rally that has taken the market to nine-month highs.
Dow rally for real? "Big money" thinks so: study
 
Reuters - Pension managers and mutual fund houses have been among the biggest buyers of the Dow Jones industrial average (.DJI) in recent weeks, underscoring the growing belief the recession is over, according to an analysis conducted by Thomson Reuters.
DealBook: S.E.C. to Seek Ban on Flash Orders
 
Sen. Charles Schumer had requested a ban on a technique that enables some firms to peek at investors? stock orders.
Higher Costs Spur Rise in Spending
 
Consumers spent more in June because prices of food and energy were rising, not because they were ready to spend freely again.
Sony Cuts Prices on E-Books
 
Sony Electronics says it plans to lower prices for new and bestselling books in its e-book store to $9.99, ratcheting up tensions in the publishing world over the pricing of electronic books.
In Britain, Signs of Rebirth in Housing
 
Residential prices are still down 15 percent from their 2007 peak, but they increased in July for the third straight month.
Square Feet: Bids Start at $300,000 for Chicago?s Old Post Office
 
The Postal Service?s largest vacant property, at 2.7 million square feet, will be auctioned after several proposals to rehabilitate the site for other uses foundered.
Revenue Falls 20% as Electronic Arts Posts Loss
 
Electronic Arts, the video game maker, said Tuesday that its first-quarter loss was larger than a year ago, dragged by lower revenue.
Kraft Foods Second Quarter Profit Up 11 Percent
 
MILWAUKEE (AP) -- Kraft Foods Inc. said Tuesday its second-quarter profit rose 11 percent even though its revenue slipped as the dollar's strength weighed down international sales.
Whole Foods Profit Tops View; Shares Up
 
Whole Foods posted third quarter earnings that beat Wall Street?s expectations, as sales rose, and the grocer raised its full-year earnings forecast.
Data helps extend Wall St rally; Kraft slips late
 
Reuters - Stocks edged higher on Tuesday, led by the financial sector as economic data pointed to a sustained if slow recovery from the recession, taking the Dow and the S&P 500 to nine-month highs.
Whole Foods profit tops view; shares up
 
Reuters - SEATTLE (Reuters) -Whole Foods Market Inc on Tuesday posted third-quarter earnings that beat Wall Street's expectations, as sales rose, and the seller of organic and gourmet food items raised its full-year earnings forecast.
Kraft profit climbs 11 percent, raises full-year view
 
Reuters - Kraft Foods Inc reported a higher-than-expected 11 percent rise in quarterly profit on Tuesday as price increases, cost-cuts and people eating more food at home helped boost results.
Senate Leader Expects to Extend Auto Program
 
The secretary of transportation and Senate majority leader expressed confidence that the Senate would revive the auto-purchase program.
India Gets Caught Short as Sugar Prices Soar
 
To meet growing demand, India will probably have to import 20 to 30 percent of the sugar it needs in the current fiscal year.
PepsiCo to Pay $7.8 Billion to Buy Its Two Top Bottlers
 
The giant beverage company says the combination will allow it to respond more quickly to changing consumer tastes.
A Meandering Wall Street Manages to Extend a Rally
 
Defensive stocks were weak while riskier financials gained as investors continued to bet on an economic recovery.
Europe Says It Leads U.S. in Broadband Use
 
Twenty-three percent of European homes are connected to high-speed lines, compared to 20 percent of American homes.
G.E. Fined $50 Million Over Accounting Charges
 
The company agreed to pay the civil penalty to settle charges that it had misled investors with some fraudulent accounting in 2002 and 2003.
Royal Bank of Scotland Sells Asia Units to ANZ
 
The British bank was in need of cash, and the buyer, the Australia and New Zealand Banking Group, wanted to raise its profile in Asia.
BHP Names Ex-Chief Of Ford Chairman
 
Jacques A. Nasser will succeed Don Argus as chairman at the mining company.
D.R. Horton and Pulte, Home Builders, Post Losses
 
Orders and revenue declined as the long housing slump eroded demand, the nation?s two largest home builders said.
Loss Widens at GMAC, a Lender in Transition
 
The lender, which has received various forms of aid from the government, said it lost $3.9 billion in its second quarter.
Electronic Arts Beats Forecasts
 
Electronic Arts, the video game maker, said Tuesday that its first-quarter loss was larger than a year ago, dragged by lower revenue.
Whole Foods Profit Tops View, Shares Up
 
Whole Foods posted third quarter earnings that beat Wall Street?s expectations, as sales rose, and the grocer raised its full-year earnings forecast.
GE fined after accounting probe
 
General Electric will pay a fine of $50m after being accused of improper accounting in order to make its results look better.
Data helps extend Wall Street rally; Kraft slips late
 
Reuters - Stocks edged higher on Tuesday, led by the financial sector as economic data pointed to a sustained if slow recovery from the recession, taking the Dow and the S&P 500 to nine-month highs.
Whole Foods profit tops view, shares up
 
Reuters - Whole Foods Market Inc on Tuesday posted third-quarter earnings that beat Wall Street's expectations, as sales rose, and the seller of organic and gourmet food items raised its full-year earnings forecast.
The Work-Up: For Health Insurers? Lobbyist, Good Will Is Tested
 
The work of the industry?s chief lobbyist, Karen Ignagni, over the last three years to reach agreements among insurers may be undercut.
Senate Is Expected to Extend ?Clunker? Trade-Ins
 
The secretary of transportation and Senate majority leader expressed confidence that the Senate would revive the auto-purchase program.
Medical Papers by Ghostwriters Pushed Therapy
 
Court documents suggest that the level of hidden industry influence on medical literature is broader than previously known.
G.M. Chairman Vows to Defend Market Share
 
In his first board meeting, Edward E. Whitacre Jr. left no doubt that he would be pushing the management team hard to reverse G.M.?s decades-long slide.
U.S. Effort Aids Only 9% of Eligible Homeowners
 
The Treasury Department identified banks that had been slow to offer more affordable mortgages to eligible homeowners.
S.E.C. Cracks Down on ?Flash? Trading
 
The S.E.C. chairwoman said she would push to eliminate a technique that enables some firms to peek at investors? stock orders.
New York Seeks Millions in Tax From Lehman
 
The city claimed that Lehman underpaid taxes for years, and asked a bankruptcy court to allow a claim of $627 million.
Obama Setting Out to Put Brighter Face on Economy
 
The White House is undertaking a big sell this week on behalf of its economic policies, but a jobs report to be released Friday may well get in the way.
Elkhart Journal: Economic Statistics Improve, but Hope Is Elusive
 
Residents of Elkhart County, Ind., suggest that a visiting President Obama will find some who wonder how soon they might begin feeling the effects of any economic recovery.
Fresh Views at Agency Overseeing Online Ads
 
The new head of the Bureau of Consumer Protection at the Federal Trade Commission has asked Congress for a bigger budget and for a streamlined way to create rules.
British Real Estate Market Seems to Be Thawing a Bit
 
Mortgage approvals hit a 14-month high in June and home prices rose in July for the third consecutive month.
Advertising: NBC Builds Anticipation for 10 P.M.
 
With six weeks of promotions for 'The Jay Leno Show,' NBC says 'life needs more laughter' and subtly knocks the competition?s crime dramas.
Forum on Distracted Driving Planned
 
The Transportation Department will convene a meeting about text-messaging and cell phone use while driving.
Gawker?s Blogs, for a Time, Are Silenced by Hackers
 
After two days of a denial-of-service attack, the company?s popular blogs were back up on Tuesday and withstanding hackers? efforts.
ESPN Limits Social Networking
 
New guidelines for communicating on the social networking site Twitter issued by ESPN Tuesday say ?write it once, publish it everywhere.?
Hot Story to Has-Been: Tracking News via Cyberspace
 
Media Cloud is a system that tracks hundreds of newspapers and thousands of Web sites and blogs, and archives the information in a searchable form.
Sales Down, BMW?s Profit Falls 76%
 
The maker of luxury cars said that the second quarter was better than the first because sales volume decreased at a slightly slower rate.
No quick end to China's fiscal stimulus: researcher
 
Reuters - China will stick to its loose fiscal policy for at least three years despite a growing budget deficit, a government economist said in comments published on Wednesday.
S.E.C. Starts Crackdown on ?Flash? Trading
 
The S.E.C. chairwoman said she would push to eliminate a technique that enables some firms to peek at investors? stock orders.
Advertising: NBC Looks to Leno for a Lift
 
With six weeks of promotions for 'The Jay Leno Show,' NBC says 'life needs more laughter' and subtly knocks the competition?s crime dramas.
Federal Agency Plans Distracted Driving Forum
 
Safety advocates call the Transportation Department?s action a shift in the federal government?s recognition of the dangers of behind-the-wheel multitasking.
Sony to Cut E-Book Prices and Offer New Readers
 
The price for new and popular e-books appears to be settling at $9.99, making traditional publishers nervous.
Higher Prices Pushed Up Consumer Spending for June
 
Consumers spent more in June because prices of food and energy were rising, not because they were ready to spend freely again.
Royal Bank of Scotland Sells Asian Units to ANZ
 
The British bank was in need of cash, and the buyer, the Australia and New Zealand Banking Group, wanted to raise its profile in Asia.
Breakingviews.com: What Trump Gets, Not Everyone Can
 
The real estate mogul has managed to get his Atlantic City casinos out of bankruptcy for a third time. Equity firms could take lessons.
Top firms' pension funds plummet
 
Britain's leading companies have seen their pension schemes drop to a record deficit over the past year, a report finds.
General Growth retail net operating income falls
 
Reuters - General Growth Properties Inc , the large U.S. mall operator that filed for bankruptcy in April, on Tuesday reported a 2.1 percent decline in quarterly net operating income from its retail properties, citing weakness in the economy and falling occupancy rates.

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