News For Thursday Dec 4, 2008 News For Thursday Dec 4, 2008

Business Business

London's FTSE 100 index down 73.70 at 4,134.85 - Added 2 weeks ago

Share prices on the London Stock Exchange were lower at midday Wednesday. At noon, the FTSE 100-share index was down 73.70 points at 4,134.85. ...

Burger King limits sodium in kids meals - Added 2 weeks ago

Burger King Corp. said Wednesday it is cutting the amount of sodium in its kids meals and promoting menu combinations with less than 650 calories as part of a push to emphasize nutrition at its fast-food chains. The...

FDA opens new China office - Added 2 weeks ago

The U.S. Food and Drug Administration opened an office Wednesday in China's capital _ its first outside the United States _ as part of a new global strategy to ensure the safety of trillions of dollars of imports. ...

Fiat CEO warns against aid to US carmakers - Added 2 weeks ago

Fiat Group SpA CEO Sergio Marchionne on Wednesday warned that a bailout of the big three carmakers in the U.S. would distort competition across the ailing auto industry. Marchionne appealed for a fair playing field for...

Toyota to reduce output, temporary workers in US - Added 2 weeks ago

Toyota Motor Corp. said Wednesday it will reduce production in the United States to cope with slowing sales in the world's largest economy. Toyota will stop production at all its plants in the U.S. and Canada for two...

Get your glasses: 3D poised to take over movies - Added 2 weeks ago

If Dreamworks Chief Executive Jeffrey Katzenberg is right, you'll soon be out shopping for the latest in designer glasses. 3D glasses that is. Hollywood studios such as Dreamworks, Walt Disney and 20th Century Fox are...

HK stock index down nearly 1 percent - Added 2 weeks ago

Hong Kong shares edged lower in lethargic trade Wednesday as investors sold banks and developers. The blue-chip Hang Seng Index fell 100.09 points, or 0.8 percent, to 12,815.80. Trading volumes were among the lowest...

China stocks rebound despite regional losses - Added 2 weeks ago

Chinese shares shrugged off losses elsewhere in Asia to rise Wednesday on a rally in refiners and renewed enthusiasm about a government stimulus package. The benchmark Shanghai Composite Index climbed 6.1 percent, or...

AP Executive Morning Briefing - Added 2 weeks ago

The top business news from The Associated Press for the morning of Wednesday, November 19, 2008: Big Three automakers running out of time WASHINGTON (AP) _ Detroit's Big Three automakers are running out of time in...

Chinese automakers, hit by slowdown, ask for help - Added 2 weeks ago

While U.S. automakers plead for emergency loans from Washington, China's still-young car manufacturers are also appealing for their government's help amid a sales slump. That support, they say, could come in the form...

Wynn supports government travel measures in Macau - Added 2 weeks ago

Casino mogul Steve Wynn said Wednesday he couldn't tell when Macau's slowdown might let up, but expressed confidence in its long-term fortunes and backed government measures to curb travel to the Chinese gambling city. ...

Ford hopes to regain car traction with new Fusion - Added 2 weeks ago

While two of the Detroit Three have no new models to unveil at this year's Los Angeles Auto Show, Ford Motor Co. stayed in and will show off a revamped midsize car that is an example of how serious it is about gas...

UK credit agency Experian 1H profit rises 15 pct - Added 2 weeks ago

British credit agency Experian PLC said Wednesday its net profit rose 15 percent in the first half on strong growth in Latin America and a successful cost savings program. The company said net profit for the six months...

Mazda buys back chunk of own shares from Ford - Added 2 weeks ago

Mazda spent 17.8 billion yen ($184 million) to buy back 6.8 percent of its own shares from cash-hungry Ford Motor Co., the Japanese automaker said Wednesday. Several other companies bought smaller stakes. The move came...

Drought hurts US dry pea and lentil production - Added 2 weeks ago

Eastern Montana dry pea and lentil farmer Jim Squires retired this year, then watched as crops on his rented-out land withered in dry weather. Other pea and lentil crops in the region suffered a similar fate, leaving...

Euro rises against dollar to $1.2627 - Added 2 weeks ago

The euro rose against the dollar Wednesday after the U.S. posted a sharp fall in producer prices. The 15-nation euro traded at $1.2627 in early European trading, up from $1.2579 late Tuesday in New York. The U.S....

Barclays' investors buy entire stock offering - Added 2 weeks ago

Barclays PLC said Wednesday that institutional investors had bought all the 500 million pounds ($750 million) of preferred stock offered to them on Tuesday. The shares, which pay 14 percent annual interest for 10...

Japan stocks fall on grim bank earnings, auto woes - Added 2 weeks ago

Japanese stocks fell Wednesday as grim earnings from the country's biggest bank and doubts about the fate of a U.S. government lifeline for ailing automakers underlined a gloomy outlook for world growth and corporate...

Singapore shipper Neptune Orient to cut 1,000 jobs - Added 2 weeks ago

Singapore's Neptune Orient Lines Ltd., Southeast Asia's largest container shipper, said it will cut 1,000 jobs to help save $200 million next year as a global slowdown in trade accelerates. Most of the layoffs will...

Australia may be nearing recession, index shows - Added 2 weeks ago

The outlook for Australia's economy is its weakest in 20 years, raising the risk of a recession in 2009, according to an index of economic trends. The annualized growth rate of the leading index, compiled by Westpac...

Chinese president builds economic ties with Cuba - Added 2 weeks ago

China's president signed trade deals with communist ally Cuba and agreed to help it modernize its ports and hospitals on Tuesday, part of a Latin America trip on which Chinese businessmen have been snapping up raw...

US forsees resususcitation of Doha round at APEC - Added 2 weeks ago

Leaders from 21 Pacific Rim nations plan to issue a joint declaration during a summit this week promising to reactivate the stalled Doha round of world trade talks, a U.S. official said Tuesday. Patricia M. Haslach,...

MISSING TITLE - Added 2 weeks ago

Alaska Sen. Ted Stevens has lost his re-relection bid to Democrat Mark Begich. ...

BofA CEO: There are '1 too many' Detroit 3 members - Added 2 weeks ago

The chief executive of a major U.S. bank that received $25 billion from the government's financial bailout package said Tuesday that federal aid shouldn't be dispensed to the ailing Detroit Three automakers _ unless...

Ecuador plans import controls amid world crisis - Added 2 weeks ago

Ecuador's leftist president announced a raft of import restrictions Tuesday designed to safeguard the economy as oil prices plunge, while foreign investors awaited his decision on whether he would halt debt payments. ...

Medtronic 2Q profit sinks on hefty legal charge - Added 2 weeks ago

Medtronic Inc., the world's largest medical device maker, said Tuesday that legal expenses and declining foreign exchange rates weighed down its fiscal 2009 second-quarter profit. Even excluding the legal fees, the...

Saks posts bigger-than-expected 3Q loss - Added 2 weeks ago

Saks Inc. reported a wider-than-expected loss for the third quarter Tuesday, as the company resorted to deep discounts in an attempt to pull in affluent customers spooked by massive job losses on Wall Street and...

HP shares soar after solid 4Q outlook - Added 2 weeks ago

Hewlett-Packard Co. surprised Wall Street on Tuesday by saying its earnings will be slightly above analysts' expectations, going against the grain as other technology bellwethers have slashed forecasts and posted weak...

Bankruptcy sale of Boscov's chain nears completion - Added 2 weeks ago

The bankruptcy sale of regional department store chain Boscov's to two former executives moved a step closer to fruition following a court hearing on Tuesday While several issues surrounding the sale were resolved...

CEOs want at least $300B stimulus from Obama - Added 2 weeks ago

A group of business executives on Tuesday urged President-elect Barack Obama to "quickly implement" a large stimulus package soon after taking office. The stimulus package should be more than $300 billion, said the...

Zigzagging on bailout rattles markets, critics say - Added 2 weeks ago

Financial markets hate uncertainty, but that's what they're getting from Washington. The Treasury Department's frequent, scattershot revisions to the $700 billion financial bailout have badly shaken investor...

Southern lawmakers sour on Detroit bailout - Added 2 weeks ago

!!-- pobj:SCGRE103-0508081613 -->!!-- pobj:SCGRE102-0508081610 -->!!-- pobj:SCGRE101-0508081538 -->If it's no surprise that Michigan lawmakers are behind the pitch for a $25 billion lifeline for Detroit automakers, then...

Colombia: Report money companies tied to drugs - Added 2 weeks ago

President Alvaro Uribe says there is evidence that drug traffickers were linked to a company seized by the government during a nationwide panic over hundreds of millions of dollars in lost investments, congressmen said...

Wall Street pulls off final-hour rebound - Added 2 weeks ago

Wall Street rebounded Tuesday in another turbulent session, as investors rushed back into the market after the Standard & Poor's 500 index tested a 2003 low. The market, which had been down four of the past five...

NY's Cuomo asks AIG to detail plans for exec pay - Added 2 weeks ago

New York Attorney General Andrew Cuomo on Tuesday asked troubled insurance giant American International Group to reveal whether it intends to give bonuses or raises to its executives this year. In a letter to AIG chief...

Treasury bonds advance amid economic uncertainty - Added 2 weeks ago

Treasury bonds advanced Tuesday after a government report showed that wholesale prices plunged a record amount in October, a drop that could indicate a rising threat of deflation. The Labor Department reported Tuesday...

Agriculture futures mostly lower on CBOT - Added 2 weeks ago

Agriculture futures were mostly lower Tuesday on the Chicago Board of Trade. Wheat for December delivery fell 4 cents to $5.2975 a bushel; December corn lost 5.75 cents to $3.80 a bushel; December oats were unchanged...

Ixnay on vaccinations, Thanksgiving, tech at work - Added 2 weeks ago

I'D RATHER BE SICK: Despite recommendations from the government and doctors, only 52 percent of U.S. adults said they planned on getting vaccinated for the flu this year, according to a Consumer Reports survey. Among...

How home improvement chains fared in 3rd quarter - Added 2 weeks ago

The Home Depot Inc. and its competitor Lowe's Cos. Inc. both reported better-than-expected third quarter results this week. Here's a summary of how the nation's two largest home improvement chains performed. Home...

SEC accuses 4 of inflating bank's portfolio - Added 2 weeks ago

Federal regulators on Tuesday accused four people of inflating the value of Bank of Montreal's trading portfolio to falsely enhance its financial results. One of the four pleaded guilty to related criminal charges and...

Corning lowers 4Q profit outlook - Added 2 weeks ago

Shares of Corning Inc. tumbled 7 percent Tuesday after the specialty glass maker lowered its fourth-quarter sales and profit guidance to reflect slumping demand for glass used in flat-screen televisions and computers. ...

Meltdown 101: What's deflation, and why is it bad? - Added 2 weeks ago

Deflation might sound like a good thing. Yet it can be even rougher on the economy than the more familiar phenomenon of inflation, because it's harder to get rid of. In the past year, record-breaking prices for oil,...

APEC economist: India and China key - Added 2 weeks ago

India and China's ability to resist the global economic slowdown will greatly influence whether the crisis drags the world into a depression, a top Pacific Rim trade community economist said Tuesday. "If China and...

Home Depot 3Q profit falls 31 percent - Added 2 weeks ago

Home Depot Inc. gave investors a welcome surprise Tuesday, posting a better-than-expected third-quarter profit and offering Wall Street a second straight day of good news for the battered home improvement sector. But...

Hewlett-Packard, Home Depot, Saks among big movers - Added 2 weeks ago

Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Hewlett-Packard Co., up $4.25 at $33.59 The computer maker surprised Wall Street with...

Summary Box: Momentum builds for oil buying spree - Added 2 weeks ago

WHAT'S HAPPENING: The oil sector appears ripe for some consolidation in 2009, particularly deals involving the cash-rich oil giants and struggling smaller producers. WHY NOW: The oil majors are sitting on enormous...

More consolidation likely in oil industry - Added 2 weeks ago

Big Oil is set to spend billions on new exploration in 2009, but in addition to ocean beds thousands of feet below the water's surface, major producers are surveying the balance sheets of vulnerable companies in the...

Study puts a total on diabetes cost: $218 billion - Added 2 weeks ago

As diabetes is rapidly becoming one of the world's most common diseases, its financial cost is mounting, too, to well over $200 billion a year in the U.S. alone, according to a new study. The study, released Tuesday,...

Wholesale prices plunge, easing inflation concerns - Added 2 weeks ago

Wholesale prices in October experienced the biggest one-month drop on records that go back more than 60 years, illustrating the impact falling energy prices and fears of a prolonged recession can have on inflation. ...

Big shareholder sees opportunity in Circuit City - Added 2 weeks ago

A Mexican billionaire who owns a large stake in Circuit City Stores Inc. believes there's great market opportunity in the company, even though it is under bankruptcy protection, a spokesman said Tuesday. Ricardo...