Business Headlines
Group says climate resolutions increase
AP - Tuesday, August 19, 2008 10:58 p.m.
CHARLESTON, W.Va. (AP) -- Support for climate-change proposals may be growing among investors in big U.S. companies....
Oil up slightly in Asia ahead of inventory report
AP - Tuesday, August 19, 2008 10:56 p.m.
SINGAPORE (AP) -- Oil prices rose slightly in Asia on Wednesday to near $115 a barrel as investors awaited a weekly crude inventory report for evidence an economic slowdown in the U.S. is cutting consumer demand for oil products such as gasoline....
Soaring costs has Toyota mulling Japan price hike
AP - Tuesday, August 19, 2008 10:55 p.m.
TOKYO (AP) -- Soaring material costs has Toyota considering raising prices in Japan without a model makeover for the first time in three decades, the Japanese automaker said Wednesday....
Some eBay sellers frustrated with rule changes
AP - Tuesday, August 19, 2008 10:53 p.m.
NEW YORK (AP) -- Some people who sell things on eBay are fed up with new rules the company has been imposing in hopes of making the auction site more attractive to online shoppers. Now even more changes are coming in the next few weeks, but this time eBay Inc. hopes it can cool tempers....
States push laws to require paid sick days
AP - Tuesday, August 19, 2008 10:51 p.m.
HARTFORD, Conn. (AP) -- For school bus driver Jamille Aine, a cold is more than an inconvenience. His employer does not offer paid sick days, so if he can't shake the bug, he may not be able to pay his bills....
HP posts 3Q profit jump; faces stiff competition
AP - Tuesday, August 19, 2008 10:47 p.m.
SAN FRANCISCO (AP) -- Hewlett-Packard Co. weathered economic turbulence remarkably well in the fiscal third quarter but the technology bellwether faces another big challenge - stiffer personal-computer competition - that threatens to slow its steady growth....
Small SUVs improve in crash tests
AP - Tuesday, August 19, 2008 9:27 p.m.
WASHINGTON (AP) -- Four small sport utility vehicles received top scores in crash tests to be released Wednesday by the insurance industry, a sign of improvement compared with SUVs built earlier in the decade....
Ford workers catch glimpse of future cars
AP - Tuesday, August 19, 2008 9:06 p.m.
DEARBORN, Mich. (AP) -- As Ford Motor Co. faces perhaps the most difficult period in its 105-year history, the company is trying to boost employee confidence by showing them - and letting them drive - the vehicles it hopes will pull the storied automaker out of the financial basement....
Soaring Food Prices Threaten Progress
NPR - Tuesday, August 19, 2008 5:21 p.m.
Food prices around the world have hit record highs — and that's starting to take a toll. For example, some experts worry those left hungry in Ethiopia will suffer permanent physical and mental disabilities, such as chronic illness and lower IQ.
California home sales surged in July, prices fell
AP - Tuesday, August 19, 2008 4:31 p.m.
LOS ANGELES (AP) -- California homebuyers sprung to life in July, pouncing on foreclosed homes and deeply discounted properties but largely ignoring pricier homes that have been languishing on the market, a research firm said Tuesday....
2Q profit reports from retailers show more strain
AP - Tuesday, August 19, 2008 2:53 p.m.
NEW YORK (AP) -- From affluent shoppers at Saks to bargain-hunters at Target, from Home Depot to office supplier Staples, consumers are pulling back and that's hurting retailers and raising more concerns about how they'll do the rest of the year....
FDA warns General Electric over lax record keeping
AP - Tuesday, August 19, 2008 2:46 p.m.
WASHINGTON (AP) -- Federal regulators have warned General Electric Co. over lax quality control standards at a plant that makes computer software for medical imaging....
Stocks fall on inflation data, financial worries
AP - Tuesday, August 19, 2008 2:38 p.m.
NEW YORK (AP) -- Wall Street fell sharply for a second straight session Tuesday after a hefty jump in wholesale inflation and a drop in new home construction gave investors more reason to believe an economic recovery is far off. The Dow Jones industrial average dropped 130 points....
Wholesale prices rising at fastest pace since 1981
AP - Tuesday, August 19, 2008 2:38 p.m.
WASHINGTON (AP) -- Wholesale inflation soared in July, leaving prices rising at the fastest pace in nearly three decades. While recent declines in oil and other commodity prices raise hopes inflation may have peaked, some economists worry about the widespread nature of the July price surge and caution it will take more time for that pressure to ease on Wall Street and Main Street....
GM offers employee discount to all on 2008 models
AP - Tuesday, August 19, 2008 2:31 p.m.
NEW YORK (AP) -- General Motors Corp. said Tuesday it will extend employee discounts to everyone on almost all of its 2008 and some of its 2009 models as it seeks to clear its remaining inventory of 2008 vehicles....
General Dynamics to buy Jet Aviation for 2.25B
AP - Tuesday, August 19, 2008 2:22 p.m.
WASHINGTON (AP) -- General Dynamics Corp. said Tuesday it will buy Jet Aviation for about $2.25 billion in cash, part of the defense contractor's push to expand its private civilian jet business and tap into robust demand for luxury planes overseas....
The Econonaut
NPR - Tuesday, August 19, 2008 1:49 p.m.
What does "producer price index" mean? Adam Davidson, NPR's economics reporter explains.
U.S. Cost Of Living On The Rise
NPR - Tuesday, August 19, 2008 1:28 p.m.
The cost of living is growing at a rate unseen since the early nineties, according to a recent report by the U.S. Department of Labor. And wages aren't keeping up. William Spriggs, professor of Economics at Howard University, explains why the gap between earning and spending power is increasing by so much, and so fast.
Apple says battery problem caused iPod overheating
AP - Tuesday, August 19, 2008 1:03 p.m.
SEATTLE (AP) -- Apple Inc. said Tuesday that batteries from a single supplier are to blame for the meltdown of some models of its tiny iPod Nano digital music player....
Paulson previews agenda for next China talks
AP - Tuesday, August 19, 2008 1:03 p.m.
WASHINGTON (AP) -- Treasury Secretary Henry Paulson said Tuesday the next round of high-level talks with China will focus on energy and environmental issues, and efforts to agree on an investment treaty....
Should Babies Get Own Plane Section?
NPR - Tuesday, August 19, 2008 1 p.m.
10,000 people voted to create a separate section for parents with babies and small children on the bargain fare Web site, Airfare Watchdog.com. The Web site's creator discusses the feasibility of such an idea.
'Marketplace' Report: Inflation Surges
NPR - Tuesday, August 19, 2008 1 p.m.
The Labor Department reports that prices at the wholesale level shot up 1.2 percent in July — the hottest inflation since 1981. The federal government blames rising energy motor vehicles costs, among other matters.
Send Your Back-To-School Saving Tips
NPR - Tuesday, August 19, 2008 1 p.m.
How are you economizing during the back to school shopping season? We want all your creative ideas.
Fannie And Freddie Still Shaking
NPR - Tuesday, August 19, 2008 1 p.m.
After a bail-out last month, the government-sponsored companies are still on unsteady ground. The director of macroeconomics at Moody's Economy.com examines what trouble for Fannie and Freddie means for the economy.
How To Know If You're Rich
NPR - Tuesday, August 19, 2008 1 p.m.
Pastor Rick Warren asked both presidential candidates about their definition of "rich" this weekend. They gave very different answers. Jared Bernstein of the Economic Policy Institute offers his definition of rich, middle class and upper middle class.
Tax Credit For First-Time Home Buyers
NPR - Tuesday, August 19, 2008 1 p.m.
Congress just passed the Housing Act, authorizing a tax credit of up to $7,500 for certain first-time home buyers. Our personal finance contributor says consumers need to be careful when signing up.
Calif. Home Sales Up Amid Drastic Price Cuts
NPR - Tuesday, August 19, 2008 12:13 p.m.
The number of home sales is finally increasing in Southern California, one of the hardest-hit areas. The bad news is that about half of the homes were sold as part of foreclosure proceedings, and it appears that many homes finally moved because of drastic price reductions.
Banking, Housing Worries Drive Down Stocks
NPR - Tuesday, August 19, 2008 12:06 p.m.
Oil prices were down again Tuesday — about a dollar a barrel — despite concerns about Tropical Storm Fay in the Gulf of Mexico. But the oil news was overshadowed by the financial markets, where concern about banking and housing were driving stocks lower.
Grim Anniversary: Credit Crunch Is 1 Year Old
NPR - Tuesday, August 19, 2008 11:32 a.m.
It was a year ago this week that the global credit crunch began. The mortgage business was struggling with steep losses, and the troubles were spreading throughout the credit markets. Since then, the economy has ground almost to a halt. How much has changed in a year and what's been learned?
Venezuela seizes control of Mexican Cemex plants
AP - Tuesday, August 19, 2008 11:05 a.m.
CARACAS, Venezuela (AP) -- Venezuela's government seized control of cement plants owned by Mexico's Cemex SAB after failing to reach a deal on compensation terms, marking President Hugo Chavez's latest move to nationalize key sectors of the economy....
Shares Of Fannie, Freddie Hit 20-Year Low
NPR - Tuesday, August 19, 2008 10:52 a.m.
Stock in Fannie Mae and Freddie Mac took a beating Monday on Wall Street. Investors are growing increasingly worried about the need for a government bailout.
Inflation A Growing Threat As Producer Prices Jump
NPR - Tuesday, August 19, 2008 10:30 a.m.
An index tracking prices that companies pay for goods jumped up sharply in July, which means inflation is a growing threat. Meanwhile, the housing market continues to slump, with home-builders sharply cutting back on construction projects.
Target's 2Q profit declines 7.6 percent
AP - Tuesday, August 19, 2008 10:25 a.m.
NEW YORK (AP) -- Target Corp. posted a 7.6 percent drop in second-quarter profit Tuesday and offered a cautious outlook for the third quarter as its customers focused on necessities like milk and paper towels and had trouble making their monthly credit card payments....
Home Depot's 2Q profit drops 24 percent
AP - Tuesday, August 19, 2008 8:44 a.m.
CHICAGO (AP) -- The Home Depot Inc. said Tuesday that its second-quarter profit sank 24 percent and reiterated its downbeat outlook for the year amid a weak housing market that shows no signs of recovery....
Saks reports wider 2Q loss, shares tumble
AP - Tuesday, August 19, 2008 6:44 a.m.
NEW YORK (AP) -- Luxury goods retailer Saks Inc. reported a wider-than-expected loss for the second quarter on Tuesday and delivered a downbeat forecast for the year as its affluent customers cut back on apparel amid a slowing economy....
Housing starts dip to lowest level since March '91
AP - Tuesday, August 19, 2008 6:13 a.m.
WASHINGTON (AP) -- Construction of homes and apartments fell in July to the lowest level in more than 17 years, the government reported Tuesday....
Staples warns on 2Q earnings
AP - Tuesday, August 19, 2008 5:42 a.m.
NEW YORK (AP) -- Staples Inc. warned Tuesday that its second-quarter results, excluding its acquisition of Corporate Express, would be weaker than anticipated as American consumers pulled back on spending....
German investor confidence unexpectedly rises
AP - Tuesday, August 19, 2008 5:17 a.m.
BERLIN (AP) -- German investor confidence recovered in August from a 16-year low the month before, rising unexpectedly by 8.4 points as fears of an economic downturn in Europe's biggest economy appeared to ease, a key survey released Tuesday found....
Medtronic 1Q profit jumps spine, heart strength
AP - Tuesday, August 19, 2008 4:45 a.m.
MINNEAPOLIS (AP) -- Medtronic says its fiscal first-quarter profit rose 11 percent on strong double-digit growth in its spinal and cardiovascular businesses....
Japan to start overseas cell phone technology push
AP - Tuesday, August 19, 2008 3:54 a.m.
TOKYO (AP) -- Japan will start an aggressive push to market abroad its mobile technology, especially the nation's popular "wallet phone," a government official said Tuesday....
Mexican peppers posed problem long before outbreak
AP - Tuesday, August 19, 2008 3:53 a.m.
FRESNO, Calif. (AP) -- Federal inspectors at U.S. border crossings repeatedly turned back filthy, disease-ridden shipments of peppers from Mexico in the months before a salmonella outbreak that sickened 1,400 people was finally traced to Mexican chilies....
Bank of Japan keeps key interest rate steady
AP - Tuesday, August 19, 2008 3:51 a.m.
TOKYO (AP) -- Japan's central bank chief said Tuesday he expects the world's second-largest economy to stay stagnant for the time being but denied it was headed toward the sort of deep slump that crippled the country in the 1990s....
Can Phelps make it big outside of the pool?
AP - Tuesday, August 19, 2008 2:18 a.m.
MILWAUKEE (AP) -- Visa Inc. popped out ads almost as quickly as he swam his laps. Pizza Hut is giving Michael Phelps free pizza and pasta for a year - his teammates, too - for beating Mark Spitz's record of seven gold medals in one Olympics....
Lehman shares edge lower on 3rd-quarter worries
AP - Tuesday, August 19, 2008 2:05 a.m.
NEW YORK (AP) -- Shares of Lehman Brothers Holdings Inc. edged lower Monday amid worries the company may face a fiscal third-quarter loss instead of a modest profit that many analysts had expected....
Fannie, Freddie fall on renewed bailout fears
AP - Tuesday, August 19, 2008 2:04 a.m.
WASHINGTON (AP) -- Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality....
Car buyers' satisfaction with US brands stumbles
AP - Tuesday, August 19, 2008 1:32 a.m.
NEW YORK (AP) -- U.S. car buyers are growing less satisfied with their purchases from domestic automakers while their Asian and European competitors continue to improve, according to a recent survey....
This year's Calif. table olive crop is the pits
AP - Tuesday, August 19, 2008 12:37 a.m.
FRESNO, Calif. (AP) -- Extra olives with your martini? Bartenders soon may think twice about that, with table olive prices expected to go up as California growers face their second-lightest harvest in more than a decade....
Chinese hurdler's pullout a blow to advertisers
AP - Monday, August 18, 2008 11:11 p.m.
BEIJING (AP) -- Hurdler Liu Xiang's surprise departure from the Olympics was a blow to advertisers including Coca Cola and Nike that made the 25-year-old hurdler a star of campaigns aimed at Chinese consumers....
Obama book falls victim to booksellers' rivalry
AP - Monday, August 18, 2008 10:35 p.m.
NEW YORK (AP) -- A new book about Sen. Barack Obama has intensified a rivalry between two powerful competitors: Barnes & Noble, Inc. and Amazon.com....
FDA reports deaths with diabetes drug Byetta
AP - Monday, August 18, 2008 5:28 p.m.
WASHINGTON (AP) -- Federal regulators are working on a stronger label for a widely used diabetes drug marketed by Amylin Pharmaceuticals Inc. and Eli Lilly & Co. after deaths were reported with the medication despite earlier government warnings....
Stove Sales Hot
NPR - Monday, August 18, 2008 4:37 p.m.
As nearby factories are downsizing, Harman Stoves in Halifax, Pa., is adding more than 100 jobs to try to keep up with skyrocketing demand for its pellet stoves. The spike comes as homeowners want to make the switch from oil to heating with wood pellets.
Stallone To Promote Russian Vodka
NPR - Monday, August 18, 2008 4 p.m.
Sylvester Stallone, who destroyed Soviet rivals in Rocky and Rambo is being paid a reported $1 million to sell Russian vodka. He will advertise "Russian Ice" vodka under the slogan: "There is a bit of Russian in all of us."
Electronic Arts won't extend Take-Two deadline
AP - Monday, August 18, 2008 3:41 p.m.
NEW YORK (AP) -- Video game publisher Electronic Arts Inc. is retracting its hostile bid for smaller rival Take-Two Interactive Software Inc., but a deal - and a friendly one at that - is likelier than ever....
'Liar loans' threaten to prolong mortgage crisis
AP - Monday, August 18, 2008 2:50 p.m.
In the mortgage industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets."...
Researchers: Merck Vioxx study was for marketing
AP - Monday, August 18, 2008 2:48 p.m.
TRENTON, N.J. (AP) -- A 1999 Merck & Co. study of its since-withdrawn painkiller Vioxx, touted to participating doctors and patients as meant to show whether Vioxx caused fewer stomach problems than another drug, was primarily a stealth marketing strategy, researchers report....
Macaroni Grill owner sells majority stake in chain
AP - Monday, August 18, 2008 2:33 p.m.
NEW YORK (AP) -- Brinker International Inc., the owner of the Chili\'s Grill & Bar chain, said Monday it will sell a majority stake in Romano\'s Macaroni Grill to a private equity firm....
Lowe's beats 2Q estimates, despite profit drop
AP - Monday, August 18, 2008 2:27 p.m.
CHICAGO (AP) -- Repairs to drought-stricken flower beds and sales of freezers designed to hold bought-in-bulk food helped Lowe's Cos. Inc. post a better-than-expected second-quarter profit....
Ocean platform could take 20 pct of US oil imports
AP - Monday, August 18, 2008 1:58 p.m.
HOUSTON (AP) -- An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 percent of the nation's daily imported oil....
'Marketplace' Report: Fun Gadgets In Rough Times
NPR - Monday, August 18, 2008 1 p.m.
Rather than going out in the evenings, Americans appear to be spending time and money on new gadgets. The U.S. government says consumer electronic sales were up 4.8 percent in July.
Qwest, unions agree on new contracts
AP - Monday, August 18, 2008 11:23 a.m.
DENVER (AP) -- Qwest Communications International Inc. and negotiators for its largest union have tentatively agreed on a contract about a day after the previous one expired, both sides said Monday....
Washington offers no relief for savers
AP - Monday, August 18, 2008 10:03 a.m.
WASHINGTON (AP) -- Two giant mortgage companies get into hot water over risky investments. The government steps in to throw them a lifeline should they need it....
Gasoline Prices Fall, But Not As Far As Oil Prices
NPR - Monday, August 18, 2008 9:51 a.m.
Geopolitical worries did nothing to arrest the drop in oil prices last week, and the roller coaster hasn't reached the bottom yet. Oil prices have fallen more than twice as far as gasoline prices, suggesting that even if crude oil prices level off, there's room for additional savings at the gas pump.
Storm Threatens To Disrupt Oil Supply
NPR - Monday, August 18, 2008 9:44 a.m.
Oil forecasters are watching the weather — and oil prices rose Monday in Asia — as Tropical Storm Fay headed toward the Florida Keys. The storm, which is expected to turn into a hurricane, could disrupt supply. Tourists were ordered out of the Keys on Sunday, and oil giant Royal Dutch Shell has evacuated about 360 staff members from the Gulf of Mexico.
Atlantic City Tries To Widen Its Appeal To Tourists
NPR - Monday, August 18, 2008 9:27 a.m.
Officials in Atlantic City like to boast that the New Jersey vacation spot is within a day's drive for a third of the U.S. population. But that fact isn't translating into booming business this summer. From souvenir stands on the boardwalk to the casinos and hotels, high gas prices and the soft economy are taking a toll.
Bonnie Hammer: Leading USA Network To TV Hits
NPR - Monday, August 18, 2008 6 a.m.
Big TV networks are watching their overall ratings go down while cable audiences are growing. The USA network is the No. 1 cable channel. The person who has made that happen is Bonnie Hammer. She runs USA — as well as the SciFi channel and the studio that produces a lot of their original programming.
Gas Prices Fall, But Not As Far As Oil Prices
NPR - Monday, August 18, 2008 6 a.m.
Oil prices are falling faster than gasoline prices. So far, oil prices have fallen more than twice as far as gas prices.
PBGC downplays investment plan risks, report says
AP - Monday, August 18, 2008 4:34 a.m.
WASHINGTON (AP) -- The federal agency charged with backstopping pension benefits for 44 million Americans has understated the risks of its new investment policy, a congressional watchdog said Monday....
Back to school: Shaky economy hits kids
AP - Monday, August 18, 2008 4:04 a.m.
WASHINGTON (AP) -- Hard times and higher fuel prices will follow kids back to school this fall....
EU: Trade deficit close to balance
AP - Monday, August 18, 2008 4:02 a.m.
BRUSSELS, Belgium (AP) -- Euro nations\' trade deficit with the rest of the world came close to balance in June, the EU statistics agency said Monday....
BHP Billiton reports record annual profit
AP - Monday, August 18, 2008 4:01 a.m.
MELBOURNE, Australia (AP) -- BHP Billiton Ltd., the world\'s largest mining company, has reported a record annual profit and says it expects demand for commodities to remain strong....
Industry group says UK facing recession
AP - Monday, August 18, 2008 3:58 a.m.
LONDON (AP) -- A recession is likely to descend on Britain within the next six to nine months, the British Chambers of Commerce warned on Monday....
MUFG to buy rest of UnionBanCal for $3.5B
AP - Monday, August 18, 2008 3:57 a.m.
TOKYO (AP) -- Mitsubishi UFJ Financial Group Inc. and UnionBanCal Corp. agreed on a tender offer at a raised price of $73.50 a share in a deal worth $3.5 billion, the Japanese bank said Monday....
Media coverage of the economy lags, study finds
AP - Sunday, August 17, 2008 9:17 p.m.
NEW YORK (AP) -- Media coverage of the economic downturn in the U.S. has lagged behind both economic activity and public interest, according to a study being released Monday by a Washington, D.C.-based research group....
AP IMPACT: Weak rules cripple appraiser oversight
AP - Sunday, August 17, 2008 9:05 p.m.
CHARLOTTE, N.C. (AP) -- As soaring home prices set the stage for America\'s great housing meltdown, a critical step in making sure those home sales were a fair deal - the real estate appraisal - was undermined from within....
TV remains top source of news even as online grows
AP - Sunday, August 17, 2008 3:36 p.m.
NEW YORK (AP) -- Fewer Americans are reading newspapers and are instead getting their news online, but television remains the leading source of news in the country, according to a survey released Sunday....
Oil's down, stocks are up, but uncertainty remains
AP - Sunday, August 17, 2008 11:22 a.m.
NEW YORK (AP) -- The past four weeks on Wall Street have been quite a welcome contrast. Stocks have risen, the dollar has strengthened and oil prices have plummeted....
Kosher meatpacker struggles after immigration raid
AP - Sunday, August 17, 2008 11:14 a.m.
POSTVILLE, Iowa (AP) -- Three months after the nation\'s largest immigration raid, chickens and beef carcasses are again moving down the line at Agriprocessors\' sprawling kosher meatpacking plant, but managers acknowledge that business still isn\'t back to normal....
Questions and answers on hiring an appraiser
AP - Sunday, August 17, 2008 10:10 a.m.
Questions and answers on how consumers can ensure they are getting an honest appraisal when buying or selling a home, refinancing an existing mortgage or taking out a home equity loan or line of credit:...
Inflated appraisal nearly cost family its home
AP - Sunday, August 17, 2008 10:07 a.m.
HOPE MILLS, N.C. (AP) -- After 25 years as a doorman on Manhattan\'s Upper East Side, Carl Petrone was ready to retire from the cold winters and his daily commute....
Former DirecTV head named LA Times publisher
AP - Sunday, August 17, 2008 2:42 a.m.
LOS ANGELES (AP) -- Eddy Hartenstein, a former head of DirecTV, will become publisher of the Los Angeles Times, the newspaper reported Saturday....
Small town Iowa struggles after immigration raid
AP - Sunday, August 17, 2008 2:34 a.m.
POSTVILLE, Iowa (AP) -- A vague unease whispered through this tiny town in northeastern Iowa, where the rolling hills are a study in vivid colors - red barns, white clapboard houses, and vibrant green cornfields plowed with almost architectural precision....
Breaking up big banks questioned as losses mount
AP - Sunday, August 17, 2008 2:32 a.m.
NEW YORK (AP) -- America\'s biggest banks have suffered unprecedented losses from the ongoing credit crisis, and that\'s made some investors question whether the big financial conglomerates should be broken up in order to survive....
Facebook Faceoff: German Rival Gets Poked
NPR - Friday, August 15, 2008 11:46 p.m.
The success of the social networking site Facebook has spawned knockoffs around the world. Now Facebook is poking back. Last month, it filed a lawsuit against Germany's top social networking site, saying that it copied the "look and feel" of Facebook.
Hershey to raise prices 11 percent
AP - Friday, August 15, 2008 4:42 p.m.
HERSHEY, Pa. (AP) -- The Hershey Co. said Friday it is raising prices on its products by an average of 11 percent as the nation\'s largest candymaker tries to stem the impact of soaring commodities costs, and trimmed its projections for 2008 and 2009....
'Marketplace' Report: Gas From Georgia
NPR - Friday, August 15, 2008 1 p.m.
The tensions between Russia and Georgia could affect U.S. imports of oil and gas from the region. The uncertainty has U.S. investors worried aboug how American consumers will be impacted.
Gold plummets amid stronger dollar, oil decline
AP - Friday, August 15, 2008 12:57 p.m.
NEW YORK (AP) -- Gold, which scorched into the record books earlier this year, has suddenly gone cold....
Cadence withdraws proposal to buy Mentor Graphics
AP - Friday, August 15, 2008 12:55 p.m.
SAN JOSE, Calif. (AP) -- Electronic design software maker Cadence Design Systems Inc. on Friday withdrew its offer to buy smaller rival Mentor Graphics Corp....
Ala. county faces biggest US municipal bankruptcy
AP - Friday, August 15, 2008 12:16 p.m.
BIRMINGHAM, Ala. (AP) -- Alabama\'s largest county appears headed for the biggest municipal bankruptcy in U.S. history, a $3.2 billion mess created by the nation\'s credit crunch and a colossal, corruption-riddled sewer project....
Merrill facing NY lawsuit over securities sale
AP - Friday, August 15, 2008 12:15 p.m.
NEW YORK (AP) -- New York Attorney General Andrew Cuomo said Friday he sent a letter to Merrill Lynch & Co. notifying the investment bank that his office will file suit against it imminently as part of an investigation into the collapse of the auction-rate securities market....
Shipping Snag Delays Netflix Customers' Rentals
NPR - Friday, August 15, 2008 11:41 a.m.
About 2.5 million Netflix customers won't get this week's movie delivery on time. The company says an internal technical issue has disrupted shipping across the country. It's the worst delivery problem the Internet rental pioneer has ever had.
Dallas Fends Off Housing Downturn
NPR - Friday, August 15, 2008 11:34 a.m.
Jeff Updike, who specializes in residential real estate in Dallas, says the number of home sales there is down, but prices are up. The economy in Dallas has fended off the worst of the housing downturn.
Netflix resumes normal shipping after 3-day glitch
AP - Friday, August 15, 2008 11:19 a.m.
SAN FRANCISCO (AP) -- Online DVD rental leader Netflix Inc. resumed normal shipments Friday after its distribution centers were crippled by three days of severe technical problems, a spokesman said....
Dollar's prospects may be brighter after long drop
AP - Friday, August 15, 2008 10:59 a.m.
LONDON (AP) -- The buck may be turning into a bull....
Missouri announces agreement with Wachovia
AP - Friday, August 15, 2008 9:47 a.m.
ST. LOUIS (AP) -- The "nightmare" is over for thousands of investors whose money was tied up in auction-rate securities purchased through Wachovia Corp., Missouri Secretary of State Robin Carnahan said Friday in announcing an $8.5 billion settlement with the company....
Electric bikes selling briskly as gas prices climb
AP - Friday, August 15, 2008 9:14 a.m.
NEW YORK (AP) -- When Honora Wolfe and her husband moved to the outskirts of Boulder, Colo., she wanted an environmentally friendly way to commute to her job as a bookshop owner in the city....
Yahoo selects Biondi, Chapple as new board members
AP - Friday, August 15, 2008 9:03 a.m.
SEATTLE (AP) -- Yahoo Inc. said Thursday it will add the former chief executives of Viacom and Nextel Partners to its board of directors as part of the company\'s deal to ward off a proxy fight with billionaire investor Carl Icahn....
Republic again rejects Waste Management buyout bid
AP - Friday, August 15, 2008 8:56 a.m.
HARTFORD, Conn. (AP) -- Efforts by Waste Management Inc. to buy rival trash hauler Republic Services Inc. are getting more complicated....
Dollar continues rise against euro
AP - Friday, August 15, 2008 8:04 a.m.
FRANKFURT, Germany (AP) -- The dollar continued its rise against the euro Friday amid hopeful signals on the U.S. economy, falling oil prices and gloom about the European economic outlook....
Wachovia latest to settle securities probe
AP - Friday, August 15, 2008 7:55 a.m.
NEW YORK (AP) -- Wachovia Corp. has agreed to buy back $8.5 billion in auction-rate securities as part of a wide-ranging investigation by the New York Attorney General and other state regulators into the collapse of the market....
Inflation Rate Grows, Driven By Energy, Food Costs
NPR - Friday, August 15, 2008 7:30 a.m.
The Department of Labor says inflation is growing at the fastest rate in 17 years. The Consumer Price Index was up about 5.5 percent from a year ago. Energy and food prices drove the increase in July. With oil prices falling, inflation could slow in August, but the pain may linger.
