News For Monday Oct 13, 2008 News For Monday Oct 13, 2008

Business Business

Asian stocks soar after US rally; Nikkei up 13 pct - Added 7 weeks ago

Japan's stock market soared in early trading Tuesday, leading a second-day rally in Asian stocks after Wall Street staged a dramatic comeback from its worst week ever. Sparked by global efforts to fix the world's...

Manic Monday: Dow roars back from worst week ever - Added 7 weeks ago

Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday, catapulting the Dow Jones industrials to a 936-point gain and finally offering...

Nikkei index soars more than 11 percent - Added 7 weeks ago

Japanese stocks are soaring in early trading following spectacular rallies in markets across the global. The benchmark Nikkei 225 index jumped 937 points, or 11 percent, to 9,213. Japanese financial markets are playing...

The Dow Jones industrials' moves since Lehman fall - Added 7 weeks ago

How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. After Lehman's fall, the credit markets seized...

Bush critic Paul Krugman wins economics Nobel - Added 7 weeks ago

Paul Krugman, whose relentless criticism of the Bush administration includes opposition to the $700 billion financial bailout, won the Nobel prize in economics Monday for his work on international trade patterns. The...

Study: Vioxx risk lingered after use of painkiller - Added 7 weeks ago

A doubled risk of heart attack, stroke and death persisted at least a year after people stopped taking withdrawn painkiller Vioxx, according to an analysis of long-term data from the study that led drugmaker Merck &...

Study: Vioxx risk lingered after use of painkiller - Added 7 weeks ago

A doubled risk of heart attack, stroke and death persisted at least a year after people stopped taking withdrawn painkiller Vioxx, according to an analysis of long-term data from the study that led drugmaker Merck &...

GM to close stamping plant near Grand Rapids - Added 7 weeks ago

!!-- pobj:WIJAN201-1121050929 -->General Motors Corp.'s efforts to hoard cash and outlast a prolonged economic slump claimed the jobs of more than 2,700 workers Monday as the automaker announced the demise of factories...

Commodities surge on huge Wall Street rally - Added 7 weeks ago

Commodities prices shot up Monday as U.S. and European governments intensified their efforts to revive the global banking sector _ prodding investors to put some of their money back into financial markets. Crude oil,...

Restaurants may change menus, hike prices in 2009 - Added 7 weeks ago

Beef may not be what's for dinner at your favorite restaurant come 2009. Restaurants, now working to secure supply and price contracts for meat and other commodities for the upcoming year, are expecting big increases...

Morgan Stanley gets lifeline, is ready for deals - Added 7 weeks ago

Morgan Stanley averted disaster with a $9 billion lifeline from a major Japanese bank, and on Monday declared it will use that money to pick off smaller rivals. Just a few days ago, some on Wall Street openly...

Morgan Stanley, GM, Tiffany are among big movers - Added 7 weeks ago

Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Morgan Stanley, up $8.42 at $18.10 The bank closed a deal for a $9 billion cash infusion --...

Chrysler CEO says no deal to announce - Added 7 weeks ago

The chief executive of Chrysler LLC said Monday that his company hasn't reached any new deals with other automakers but has spoken with outside parties interested in working with the Dodge and Jeep maker. In a memo to...

Meltdown 101: The Dow Jones industrial average - Added 7 weeks ago

Amid weeks of stock market turmoil, many worried investors have been tracking the daily trajectory of the Dow Jones industrial average like never before. But few understand how the index of 30 of the biggest U.S....

Europe puts more on the line for banks than US - Added 7 weeks ago

Europe put $2.3 trillion on the line Monday to protect the continent's banks, a figure that dwarfs the Bush administration's $700 billion rescue program, in its most unified response yet to the global financial crisis...

Oil prices rebound after last week's huge losses - Added 7 weeks ago

Oil prices rebounded from a 13-month low Monday, pushing above $81 a barrel after the dollar weakened and investors trickled back into financial markets on hopes that a globally coordinated rescue plan will stave off an...

Procter & Gamble's global growth - Added 7 weeks ago

Cincinnati-based Procter & Gamble Co., the world's largest consumer products company, is increasingly looking to emerging markets for growth: _ Total annual sales: $83.5 billion. _ Percent of annual sales growth...

Summary: Business issues in emerging markets - Added 7 weeks ago

NEW CUSTOMERS: U.S.-based consumer products companies are increasingly looking overseas to emerging markets for sales growth lacking at home. But developing countries can be volatile places to do business. NUMBERS...

Selling soup in China, Russia takes culture shift - Added 7 weeks ago

Campbell Soup Co. found that selling its products to soup lovers in other countries isn't as easy as it seems. Russia and China, where the company launched sales nearly a year ago, slurp a combined 350 billion servings...

New markets, new problems for US companies - Added 7 weeks ago

!!-- pobj:OHAB202-0819080927 -->!!-- pobj:BRRM301-0820081716 -->With Russian troops pushing into Georgia, Keith Harrison was working his e-mail back in Cincinnati. The first thing he wanted to know: Were Procter &...

Ag futures rise on Chicago Board of Trade - Added 7 weeks ago

Agriculture futures rose Friday on the Chicago Board of Trade. Wheat for December delivery rose 25 cents to $5.885 a bushel; December corn added 3.25 cents to $4.115 a bushel; December oats rose 14.5 cents to $2.930 a...

New vodka ad from Diddy sees good times _ at home - Added 7 weeks ago

Celebrating in the new economy could mean more time at home and less time in the bars, Sean "Diddy" Combs says. The entertainment mogul's new ad for his superpremium vodka Ciroc is a throwback to the 1950s, featuring...

Waste Management drops bid for Republic - Added 7 weeks ago

Waste Management Inc., the nation's largest garbage hauler, on Monday withdrew its $6.73 billion bid to acquire smaller rival Republic Services, saying the move wouldn't be prudent given current financial market...

States ask baby product companies to avoid BPA - Added 7 weeks ago

Attorneys general from Connecticut, New Jersey and Delaware sent letters Friday to 11 companies that make baby bottles and baby formula containers, asking they no longer use the chemical bisphenol A in their...

Russian markets drop sharply in seesaw trading - Added 7 weeks ago

Russian stock benchmarks dropped sharply Monday on declining world oil prices and new struggles for control of the world's largest nickel miner, prompting trading suspensions on the country's two exchanges. The...

Payless to sell "green" shoe line - Added 7 weeks ago

Payless ShoeSource is going green as it plans to sell a line of ecologically friendly shoes and handbags at low prices. The Topeka, Kan.-based chain announced the new line Monday with the first eight to 12 styles of...

Iraq lays out rules for 1st round of oil bids - Added 7 weeks ago

Iraq's oil minister met 34 oil company representatives in London on Monday to set out the ground rules for foreign multinationals' first bite at the country's enormous energy reserves since the U.S.-led invasion in...

World stocks rally strongly - Added 7 weeks ago

European markets rallied strongly Monday following Asia's lead in response to the widespread government efforts over the weekend to shore up the world's battered financial system. Germany's DAX was 309.28 points, or...

Winners of the Nobel economics prize - Added 7 weeks ago

Recent winners of the Nobel Memorial Prize in Economic Sciences, and their research, according to the Nobel Foundation: ___ _ 2008: American Paul Krugman for his analysis of trade patterns and location of economic...

Fed approves Wells Fargo's Wachovia buy - Added 7 weeks ago

The Federal Reserve on Sunday approved Wells Fargo's $11.7 billion acquisition of Wachovia, removing the deal's last major regulatory hurdle. The Fed's move comes after federal antitrust regulators also moved swiftly...

Contract talks restart between Boeing, machinists - Added 7 weeks ago

Negotiations have begun to end a five-week strike by machinists for the Boeing Co. A note saying talks were under way with a federal mediator was posted Sunday on the Web site of the International Association of...

Report: Banco Santander in Sovereign Bancorp talks - Added 7 weeks ago

Spanish bank Banco Santander SA is in "advanced talks" to acquire Philadelphia-based thrift Sovereign Bancorp Inc., The Wall Street Journal reported on Sunday. Spokesmen at Sovereign and Santander declined comment on...

AP Executive Morning Briefing - Added 7 weeks ago

The top business news from The Associated Press for the morning of Monday, October 13, 2008: White House scrambles to get rescue plan moving WASHINGTON (AP) _ With the world's financial markets on a stomach-churning...

Germany creating up to $543 billion rescue package - Added 7 weeks ago

German leaders worked Monday to tie up a rescue package for their banking system that officials said could be worth as much as $543 billion _ part of a coordinated effort to shore up the euro zone's financial sector. ...

Kuwait shuts down oil refineries temporarily - Added 7 weeks ago

The Kuwait National Petroleum Co. says it has temporarily shut down the country's three oil refineries because of a power surge, but that exports have not been affected. Mohammed al-Ajmi, spokesman for the state-owned...

Oil rebounds in Asia on Europe bank rescue plan - Added 7 weeks ago

Oil prices rebounded from a 13-month low to rise above $81 a barrel Monday in Asia on expectations that a pledge by European countries to keep banks from collapsing may stabilize a tumultuous global financial system. ...

HK legislators criticize regulators over bonds - Added 7 weeks ago

Hong Kong legislators on Monday accused regulators of failing to monitor banks that sold billions of dollars worth of Lehman Brothers-backed bonds whose value is in doubt after the U.S. investment bank failed. More...

World stock markets soar after last week's rout - Added 7 weeks ago

Global stock markets rebounded strongly on Monday after last week's historic sell-off as governments from Europe to Australia and the U.S. intensified efforts to ease a financial crisis that threatened to the throw the...

Central banks announce liquidity boosting measures - Added 7 weeks ago

Five central banks, including the Federal Reserve and the European Central Bank, announced Monday new measures aimed at thawing frozen credit markets and bolstering funding to banks. The Bank of England, the European...

IMF chief welcomes European bank rescue plan - Added 7 weeks ago

The head of the International Monetary Fund welcomed a European bank rescue plan on Monday despite its high cost, and predicted that weekend efforts by world leaders would soothe anxious global markets. "I don't think...

North Dakota grows a booming barley crop - Added 7 weeks ago

North Dakota barley production jumped in 2008, thanks in large part to weather during the growing season in the east that one farmer described as "perfect." "It was cool all summer. We really had only one real hot...

Ithaca, NY, wants to be America's 1st podcar city - Added 7 weeks ago

!!-- pobj:WVMOR301-0320062143 -->The thought of a driverless, computer-guided car transporting people where they want to go on demand is a futuristic notion to some. To Jacob Roberts, podcars _ or PRTs, for personal...

Investors face more uncertainty as bailout widens - Added 7 weeks ago

Investors agonizing over whether the stock market is bottoming out or about to extend its precipitous decline face more uncertainty this week as they await action on the government's rapidly expanding effort to pull the...

Is the era of easy credit over for the long haul? - Added 7 weeks ago

An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a...

Final hour of trading keeps Wall Street on edge - Added 7 weeks ago

The chaotic hour before Wall Street's closing bell has never been for the faint of heart. These days, it's been absolutely brutal. In grim scenes repeated day after day, investors watch as an avalanche of sell orders...

Key points of euro nations' financial crisis plan - Added 7 weeks ago

European leaders agreed to several measures _ German Chancellor Angela Merkel called them a "tool kit" _ that governments will be able to use to shore up financial institutions and stop banks' financing problems from...

Bank stock purchase pushed; `no' to protectionism - Added 7 weeks ago

Treasury Secretary Henry Paulson told international leaders on Sunday that isolationism and protectionism could worsen the spreading financial crisis. With a new trading week dawning, U.S. lawmakers urged quick action...

Ithaca, NY, wants to be America's 1st podcar city - Added 7 weeks ago

!!-- pobj:WVMOR301-0320062143 -->The thought of a driverless, computer-guided car transporting people where they want to go on demand is a futuristic notion to some. To Jacob Roberts, podcars _ or PRTs, for personal...

Details about debt at some newspaper companies - Added 7 weeks ago

Newspaper companies renegotiating debt agreements with lenders: _ AVISTA CAPITAL PARTNERS _ The owner of the Star Tribune of Minneapolis skipped a $9 million quarterly debt payment to senior creditors to conserve cash....

Liquidation unlikely as papers miss obligations - Added 7 weeks ago

Newspaper companies have been skipping loan payments, missing financial targets in debt agreements and accepting higher interest rates in exchange for more flexibility _ and they're not even directly feeling the impact...