News For Saturday Sep 6, 2008 News For Saturday Sep 6, 2008

Business Business

Fannie, Freddie capital raising options uncertain - Added 2 weeks ago

As mortgage financiers Fannie Mae and Freddie Mac struggle with continuing credit losses, their ability to raise needed capital is uncertain and, analysts say, is complicated by the possibility of a government bailout...

Toyota mulls Japan price hike amid soaring costs - Added 2 weeks ago

The soaring cost of steel has Toyota considering raising prices in Japan without a model makeover for the first time in three decades, the Japanese automaker said Wednesday. Speculation has been rife Toyota Motor Corp....

Ford workers catch glimpse of future cars - Added 2 weeks ago

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...

AP Executive Morning Briefing - Added 2 weeks ago

The top business news from The Associated Press for the morning of Wednesday, Aug. 20, 2008: Fannie, Freddie capital raising options uncertain NEW YORK (AP) _ As mortgage financiers Fannie Mae and Freddie Mac struggle...

Survey: Many Wash. farmworkers indigenous Mexicans - Added 2 weeks ago

Indigenous Mexicans make up nearly a quarter of the farmhands who pick the apples, cherries and other crops in western Washington, a new survey has found. The survey _ "A Sustainable Bounty: Investing in Our...

Small SUVs improve in crash tests - Added 2 weeks ago

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. The Insurance Institute for...

Correction: UAW-Obama story - Added 2 weeks ago

In an Aug. 18 story about United Auto Workers President Ron Gettelfinger's comments about the presidential candidates, The Associated Press misstated when the UAW endorsed Democrat Barack Obama. The union endorsed Obama...

California home sales surged in July, prices fell - Added 2 weeks ago

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. ...

Sales, median prices in July for California homes - Added 2 weeks ago

The number of new and resale homes sold during June and median prices, with annual percentage changes, in selected California counties: COUNTY UNITS SOLD PERCENT CHANGE MEDIAN PRICE PERCENT CHANGE Marin ...

Recalls: helicopter kit batteries, bicycles - Added 2 weeks ago

The following recalls have been announced: _About 11,000 batteries used in radio-controlled helicopter kits, made in China and imported by Hobbico Inc., because the rechargeable battery can overheat and catch fire...

2Q profit reports from retailers show more strain - Added 2 weeks ago

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...

FDA warns General Electric over lax record keeping - Added 2 weeks ago

Federal regulators have warned General Electric Co. over lax quality control standards at a plant that makes computer software for medical imaging. The warning letter from the Food and Drug Administration released...

Gold prices rise for 2nd day on weaker dollar - Added 2 weeks ago

Gold prices traded higher for a second day Tuesday after the dollar lost ground against the euro, boosting demand for precious metals as inflation hedge. Silver and copper also rose. Other commodities traded mixed,...

Stocks fall on inflation data, financial worries - Added 2 weeks ago

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...

GM offers employee discount to all on 2008 models - Added 2 weeks ago

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. The Detroit automaker...

Treasurys mixed after jump in producer prices - Added 2 weeks ago

Treasury prices traded mostly higher Tuesday after government data suggested inflation at the wholesale level is rising, even as the economy continues to weaken. Treasurys tend to attract buyers when an economic report...

General Dynamics to buy Jet Aviation for 2.25B - Added 2 weeks ago

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...

Saks, Medtronic, Beazer Homes big movers - Added 2 weeks ago

Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Saks Inc. down 93 cents at $10.29 The luxury retailer reported a wider-than-expected quarterly...

Agriculture futures trade mostly lower on CBOT - Added 2 weeks ago

Agriculture futures traded mostly lower Tuesday on the Chicago Board of Trade. Wheat for September delivery fell 14.5 cents to $8.455 a bushel; December corn added 11.75 cents to $5.845 a bushel; December oats slipped...

Frozen yogurt war de-thaws, tart new brands hit US - Added 2 weeks ago

Leonardo DiCaprio has a Red Mango yogurt machine in his office. Paris Hilton and Lindsay Lohan have been photographed clutching Pinkberry yogurt cups while ducking the paparazzi. Frozen yogurt, trendy during the 1980s...

PepsiCo to distribute Tazo Tea more widely - Added 2 weeks ago

PepsiCo and Starbucks, already partners in a deal to sell bottled Frappucinos, are turning their attention to bottled tea. The two companies plan to give the Tazo brand greater exposure and expand distribution, as...

Oil rises above $114 after dollar weakens vs euro - Added 2 weeks ago

Oil prices rebounded Tuesday, jumping back above $114 barrel after the dollar weakened against the euro and a rally in heating oil pulled new buyers into energy markets. Light, sweet crude for September delivery rose...

Paulson previews agenda for next China talks - Added 2 weeks ago

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. Paulson said the discussions,...

Venezuela seizes control of Mexican Cemex plants - Added 2 weeks ago

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...

Column: How to ensure online shopping is safe - Added 2 weeks ago

Q: With so much talk about Internet security problems and credit card fraud, how do I protect myself while shopping online? A: One of the biggest risks in shopping online is clicking on a link to what appears to be a...

Wholesale prices rising at fastest pace since 1981 - Added 2 weeks ago

Wholesale inflation surged in July, leaving prices for the past year rising at the fastest pace in 27 years, according to government data released Tuesday. The Labor Department reported that wholesale prices shot up...

Target's 2Q profit declines 7.6 percent - Added 2 weeks ago

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...

TVA directors to consider big rate increase - Added 2 weeks ago

Tennessee Valley Authority directors are considering budget proposals that could hike electric rates sharply for millions of consumers across the agency's seven-state region. TVA officials said two weeks ago that a...

Dollar, gold fall in Europe - Added 2 weeks ago

The U.S. dollar was lower against other major currencies in European trading Tuesday. Gold fell. The euro traded at $1.4733, up from $1.4697 late Monday in New York. Later, in midday trading in New York on Tuesday, the...

Home Depot's 2Q profit drops 24 percent - Added 2 weeks ago

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. For the three-months ending...

Saks reports wider 2Q loss, shares tumble - Added 2 weeks ago

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 - Added 2 weeks ago

Construction of homes and apartments fell in July to the lowest level in more than 17 years, the government reported Tuesday. The Commerce Department said that builders broke ground on 965,000 housing units on an...

Staples warns on 2Q earnings - Added 2 weeks ago

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. Staples shares fell more than...

German investor confidence unexpectedly rises - Added 2 weeks ago

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...

Medtronic 1Q profit jumps spine, heart strength - Added 2 weeks ago

Medtronic says its fiscal first-quarter profit rose 11 percent on strong double-digit growth in its spinal and cardiovascular businesses. For the quarter ended July 25, the medical device maker says it earned $747...

Bank of Japan keeps key interest rate steady - Added 2 weeks ago

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. ...

Car buyers' satisfaction with US brands stumbles - Added 2 weeks ago

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. Consumer satisfaction with U.S....

AP Executive Morning Briefing - Added 2 weeks ago

The top business news from The Associated Press for the morning of Tuesday, Aug. 19, 2008: Oil drops below $112 as storm threat eases KUALA LUMPUR, Malaysia (AP) _ Oil prices dropped below $112 a barrel Tuesday in...

Lehman shares edge lower on 3rd-quarter worries - Added 2 weeks ago

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. The nation's fourth-largest...

Fannie, Freddie fall on renewed bailout fears - Added 2 weeks ago

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. ...

This year's Calif. table olive crop is the pits - Added 2 weeks ago

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. State and federal...

Chinese hurdler's pullout a blow to advertisers - Added 2 weeks ago

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. "His marketing value has...

Venezuela seizes control of cement companies - Added 2 weeks ago

Venezuelan government officials backed by National Guard troops seized control of cement plants owned by Mexico's Cemex SAB after failing to reach a deal on terms for nationalizing them. As a deadline for talks expired...

Obama book falls victim to booksellers' rivalry - Added 2 weeks ago

A new book about Sen. Barack Obama has intensified a rivalry between two powerful competitors: Barnes & Noble, Inc. and Amazon.com. Chelsea Green Publishing, a small, liberal publisher based in Vermont, is...

SoCal home sales climb in July, prices fall - Added 2 weeks ago

Southern California home sales surged to a 16-month high in July as prices kept falling and bargain-hunters snapped up foreclosed properties, a research firm said Monday. A total of 20,329 homes and condos _ including...

FDA reports deaths with diabetes drug Byetta - Added 2 weeks ago

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...

'Liar loans' threaten to prolong mortgage crisis - Added 2 weeks ago

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,...

Researchers: Merck Vioxx study was for marketing - Added 2 weeks ago

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...

Hershey, Fannie Mae, First Marblehead big movers - Added 2 weeks ago

Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Hershey Co., down $3.91 at $37.71 The candy maker lowered its 2008 and 2009 profit outlook and...

Fannie, Freddie fall on renewed bailout fears - Added 2 weeks ago

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. ...