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  Business News

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  Oil soars to record $126 as dollar slides

FindNews: Business - 5/9/2008 12:00:00 PM

Oil soared to a record $126 a barrel in New York as the dollars weakness prompted investors to buy commodities.


  Nasdaq turns positive; Dow, S&P 500 cut losses

FindNews: Business - 5/9/2008 11:10:12 AM

NEW YORK (Reuters) - The Nasdaq turned positive in mid-morning trading on Friday, led by gains in Microsoft and Research in


  China's long export boom hit by US slowdown

FindNews: Business - 5/9/2008 11:10:00 AM

Chinas long export boom slowed last month as the weakness of the American economy continued to affect its biggest supplier of consumer goods.


  HBOS chairman defends decision to tap shareholders for £4bn at AGM

FindNews: Business - 5/9/2008 11:00:00 AM

HBOS chairman Dennis Stevenson has jumped to the defence of chief executive Andy Hornby in the wake of the bank’s move to carry out a £4bn rights issue


  AIG says rating cuts to raise costs

FindNews: Business - 5/9/2008 10:55:12 AM

NEW YORK (Reuters) - American International Group said on Friday two rating agency downgrades will likely increase funding costs for some of its businesses, and has required it to post $1.6 billion


  AIG loss, oil, drug firms rattle investors

FindNews: Business - 5/9/2008 10:46:29 AM

NEW YORK (Reuters) - Socks fell on Friday after American International Group, the worlds largest insurer, reported a record $7.8 billion quarterly loss, rekindling concerns about financial


  Citigroup to wind down $400bn of assets

FindNews: Business - 5/9/2008 10:40:00 AM

Citi chief executive officer Vikram Pandit plans to wind down about $400bn of assets over the next three years as part of his plan to return the biggest US bank to profitability.


  Oil over $126, new peak for 5th straight day

FindNews: Business - 5/9/2008 10:09:15 AM

LONDON (Reuters) - Oil prices leapt to a new peak of more than $126 a barrel on Friday, hitting a record for the fifth straight session, in a market given an additional spur by tight supplies of


  Circuit City to let Blockbuster conduct diligence

FindNews: Business - 5/9/2008 9:39:04 AM

NEW YORK (Reuters) - Circuit City Stores Inc said on Friday that it will allow Blockbuster Inc and the movie-rental companys largest shareholder, Carl Icahn, to conduct due diligence in


  U.S. crude futures jump more than $2, above $126

FindNews: Business - 5/9/2008 9:35:56 AM

NEW YORK (Reuters) - U.S. crude futures jumped more than $2 to a record high above $126 on Friday, fueled by fund buying and surging distillate prices on both sides of the Atlantic, according to


  AIG sees market affecting mortgage units into 2009

FindNews: Business - 5/9/2008 9:24:01 AM

NEW YORK (Reuters) - American International Group sees weak market conditions in the U.S. residential market affecting its operating results at two mortgage units into 2009, its chief executive said


  Weak dollar shrinks US trade gap

FindNews: Business - 5/9/2008 9:19:29 AM

The US trade deficit shrinks by more than expected as the weak dollar leads to a surge in exports, figures show.


  Citigroup aims to sell $400 billion of assets

FindNews: Business - 5/9/2008 9:02:37 AM

PHILADELPHIA (Reuters) - Citigroup Inc, the largest U.S. bank, said on Friday said it aims to shed $400 billion of assets over the next two to three years, in a drive to become more


  Wall Street set to stumble on AIG loss

FindNews: Business - 5/9/2008 8:58:41 AM

NEW YORK (Reuters) - Stock index futures fell on Friday, with financial stocks poised to decline after American International Group, the worlds largest insurer, reported a larger-than-expected


  Siemens ex-CEO faces no criminal charges in probe

FindNews: Business - 5/9/2008 8:54:09 AM

MUNICH/HAMBURG (Reuters) - Prosecutors investigating suspected bribery at German engineering group Siemens said on Friday they have found no evidence to warrant criminal charges against former Chief


  March trade gap narrows more than expected

FindNews: Business - 5/9/2008 8:48:07 AM

WASHINGTON (Reuters) - The trade deficit narrowed more than expected in March on a record plunge in the value of imports, even as average oil prices surged to a new record, a Commerce Department


  Sanofi hit by generic Plavix threat in Europe

FindNews: Business - 5/9/2008 8:41:27 AM

LONDON (Reuters) - French drugmaker Sanofi-Aventis, which briefly encountered generic competition to its second-biggest product Plavix in the United States in 2006 and 2007, now faces a similar threat


  Citigroup targets shedding $400 billion assets

FindNews: Business - 5/9/2008 8:40:02 AM

NEW YORK (Reuters) - Citigroup Inc on Friday said it intends to shed $400 billion of assets over the next two to three years, in a drive to become more


  Clear Channel posts weaker-than-expected profit

FindNews: Business - 5/9/2008 8:35:21 AM

NEW YORK (Reuters) - Radio station operator Clear Channel Communications Inc on Friday posted a weaker-than-expected profit as softness in the overall advertising market overshadowed gains in its


  Carl Icahn prepared to buy Circuit City if Blockbuster can't 8:34 AM CT

FindNews: Business - 5/9/2008 8:34:00 AM


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