NYT > Business (47 unread)
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DealBook: As Schwartz Exits JPMorgan, What’s Next for Bear’s Former Chief?
Posted: July 31st, 2008, 6:33pm EDT by By DEALBOOK
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Where will Alan D. Schwartz go next, now that the former Bear Stearns chief executive is leaving JPMorgan Chase?
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Star-Ledger Warns of Sale
Posted: July 31st, 2008, 6:09pm EDT by By RICHARD PÉREZ-PEÑA
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The Star-Ledger’s publisher told its staff saying the paper must have 200 non-union workers take buyouts and win concessions from trade unions to stay afloat.
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UBS to Pay Massachusetts $1 Million in Settlement
Posted: July 31st, 2008, 6:05pm EDT by By REUTERS
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The settlement is part of an agreement to settle the state’s investigation into the bank’s sale of auction-rate securities to 17 cities and towns.
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In China, Low-End Industries Give Way to High-Tech
Posted: July 31st, 2008, 5:40pm EDT by By DAVID BARBOZA
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China’s companies are trying to match the world’s biggest companies in power, business and prestige.
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For Stock Exchanges, a Tumble Along With Markets
Posted: July 31st, 2008, 5:35pm EDT by By LOUISE STORY
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The share price of the company that owns the venerable New York Stock Exchange has tumbled even more than the stock market, losing 45 percent of its value this year.
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The Flair of John Thain Is Evident at Merrill
Posted: July 31st, 2008, 5:23pm EDT by By FLOYD NORRIS
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Is the fear that John A. Thain, chief of Merrill Lynch, showed in dumping securities for pennies on the dollar an indication that the stock market bottom has been reached?
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G.D.P. Grows at Tepid 1.9% Pace Despite Stimulus
Posted: July 31st, 2008, 5:19pm EDT by By PETER S. GOODMAN and MICHAEL M. GRYNBAUM
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Stocks dropped sharply as the government reported the economy grew less than expected from April to June and shrank in late 2007.
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Orders for New Planes Delayed by Soaring Fuel Costs
Posted: July 31st, 2008, 5:10pm EDT by By MICHELINE MAYNARD
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Despite a multiyear backlog of airplane orders at both Airbus and Boeing, aircraft manufacturers are seeing troubling signs among their customers.
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Bristol-Myers Offers $4.5 Billion for Rest of ImClone
Posted: July 31st, 2008, 5:05pm EDT by By STEPHANIE SAUL and ANDREW POLLACK
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Bristol-Myers Squibb, the pharmaceutical company, said that it had offered to buy the part of ImClone Systems, the biotechnology company, that it did not already own for $60 a share.
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Medvedev Says Russia Should End Business ‘Nightmares’
Posted: July 31st, 2008, 5:05pm EDT by By CLIFFORD J. LEVY
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The Russian president is pressing ahead with a national plan to combat corruption, noting that business had become infuriated by corrupt bureaucrats.
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Rising Oil Prices Swell Profits at Exxon and Shell
Posted: July 31st, 2008, 4:07pm EDT by By CLIFFORD KRAUSS and JULIA WERDIGIER
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Exxon Mobil reaped $11.68 billion in second-quarter profits, the most ever by an American company, and Royal Dutch Shell also reported a strong quarter.
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Altria Profit Falls 58 Percent
Posted: July 31st, 2008, 3:10pm EDT by By THE ASSOCIATED PRESS
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The company, which spun off the international business in March, said earnings from continuing operations rose 15 percent. It also confirmed its full-year profit forecast.
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GMAC Posts $2.48 Billion Loss on Big Write Downs
Posted: July 31st, 2008, 2:29pm EDT by By REUTERS
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GMAC posted a $2.48 billion loss, as rising gas prices forced write-downs of truck and SUV leases, and losses in its mortgage lending unit soared.
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An Unexpected Profit for Motorola
Posted: July 31st, 2008, 1:46pm EDT by By LAURA M. HOLSON
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Motorola announced better-than-expected earnings, but the company is still plagued by declining revenue and losses in its cellphone unit, which it expects to spin off.
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House Votes to Let FDA Regulate Tobacco
Posted: July 31st, 2008, 1:44pm EDT by By STEPHANIE SAUL
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The House overwhelmingly approved legislation that would give the F.D.A. new power to regulate tobacco products.
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Marathon Profit Falls by Half
Posted: July 31st, 2008, 1:10pm EDT by By THE ASSOCIATED PRESS
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HOUSTON (AP) -- Marathon Oil Corp. said Thursday it may split itself into two separate companies, one focused primarily on exploration and production and the other on refining and marketing.
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MasterCard Posts Loss After AmEx Settlement Charge
Posted: July 31st, 2008, 12:21pm EDT by By THE ASSOCIATED PRESS
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MasterCard said it posted a second-quarter loss because of a charge related to a settlement with rival American Express.
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Goodyear’s Reports Profit
Posted: July 31st, 2008, 12:19pm EDT by By THE ASSOCIATED PRESS
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Goodyear reported record sales in the second quarter, earning $75 million on the strength of international markets and higher-priced tires.
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Revlon Posts Profit
Posted: July 31st, 2008, 12:18pm EDT by By REUTERS
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Revlon reported second-quarter profit that was in line with market estimates, helped by higher shipments of Revlon color cosmetics.
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Profit Declined 21% in Quarter for Unilever
Posted: July 31st, 2008, 11:14am EDT by By THE ASSOCIATED PRESS
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Unilever, the maker of Dove soap, Lipton tea and Ben & Jerry’s ice cream, said net profit fell 21 percent, hurt by a strong euro, higher taxes and restructuring costs.
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Sale of Sundance Channel Lifts CBS in Quarter
Posted: July 31st, 2008, 11:08am EDT by By THE ASSOCIATED PRESS
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The company’s second quarter earnings topped analysts’ estimates, on gains from asset sales amid a weak advertising market.
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A Dance of Environment and Economics in the Everglades
Posted: July 31st, 2008, 10:29am EDT by By DAMIEN CAVE
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In a plan to save the Everglades, Florida officials and a family-run sugar company are seeking a delicate balance.
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Cablevision Posts Drop in Earnings
Posted: July 31st, 2008, 9:59am EDT by By THE ASSOCIATED PRESS
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Cablevision said profits fell 69 percent, but earnings in the year-ago period were boosted by the sale of the company’s stake in a regional sports network.
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Tyco International Profit Tops Expectations
Posted: July 31st, 2008, 9:51am EDT by By REUTERS
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Tyco International reported higher-than-expected profit as operating income increased in each of its five divisions, and the conglomerate raised its full-year forecast.
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Newell Rubbermaid Profit Slips on Charges
Posted: July 31st, 2008, 9:49am EDT by By THE ASSOCIATED PRESS
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Newell Rubbermaid posted a 35 percent drop in profit as restructuring charges and higher raw material costs weighed down results.
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Strong Economy Propels Brazil to World Stage
Posted: July 31st, 2008, 9:41am EDT by By ALEXEI BARRIONUEVO
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Brazil, South America’s largest economy, is finally poised to realize its potential as a global player, economists say.
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China’s Shift on Food Was Key to Trade Impasse
Posted: July 31st, 2008, 9:40am EDT by By STEPHEN CASTLE and KEITH BRADSHER
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The negotiations foundered on the right of developing countries to protect critical agricultural products from competition in exchange for cutting tariffs on imported industrial goods.
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International Paper Earnings Jump
Posted: July 31st, 2008, 9:29am EDT by By THE ASSOCIATED PRESS
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MEMPHIS, Tenn. (AP) -- International Paper says its second-quarter profit jumped 20 percent, beating Wall Street's estimates, as strong international sales helped offset rising raw material costs.
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Kodak Posts Quarterly Profit Fall
Posted: July 31st, 2008, 8:59am EDT by By REUTERS
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Photography company Eastman Kodak said net income fell and sees its 2008 earnings at the lower end of its previous forecast.
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Aetna Profit Rises on Membership
Posted: July 31st, 2008, 8:51am EDT by By THE ASSOCIATED PRESS
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HARTFORD, Conn. (AP)-- Health insurer Aetna says its second-quarter profit rose 6.4 percent on membership growth and a hike in premium rates.
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A Hidden Toll on Employment: Cut to Part Time
Posted: July 31st, 2008, 3:24am EDT by By PETER S. GOODMAN
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The number of Americans who have had their hours chopped is the largest since record keeping began.
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Advertising: A Jeweler Joins Its Friends on MySpace
Posted: July 31st, 2008, 3:15am EDT by By ERIC PFANNER
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Cartier is one of the first luxury brands to hang out its shingle on a social networking site.
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EADS Plans More Cost Cuts as Weak Dollar Hurts Position
Posted: July 31st, 2008, 2:58am EDT by By CAROLINE BROTHERS and DAVID JOLLY
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Under continuing pressure from a sagging dollar, EADS, the parent of the aviation giant Airbus, said that it would extend a restructuring program and step up outsourcing.
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Connecticut Accuses 3 Ratings Firms of Slighting Government Debt
Posted: July 31st, 2008, 2:45am EDT by By VIKAS BAJAJ
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The attorney general of Connecticut accused the nation’s three big ratings firms of systematically underrating debt issued by local and state governments.
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Deutsche Bank’s Writedowns Swell Beyond $11 Billion
Posted: July 31st, 2008, 2:30am EDT by By REUTERS
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Deutsche Bank made a further $3.6 billion of writedowns in the second quarter, taking its bill from the global financial crisis beyond $11 billion.
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Terrible Timing for a Hotel Boom
Posted: July 31st, 2008, 2:26am EDT by By ABHA BHATTARAI and FRED A. BERNSTEIN
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High gasoline prices and a slumping economy have put a damper on leisure and business travel, yet a record number of hotels are opening this year.
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$70 Million Effort Seeks New Safety Net for Workers
Posted: July 31st, 2008, 1:51am EDT by By STEVEN GREENHOUSE
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The Rockefeller Foundation has begun to focus on globalization’s effects closer to home, specifically on the way it has increased economic insecurity for many American workers.
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Delta Redoes Mileage Plan for Its Fliers
Posted: July 31st, 2008, 1:34am EDT by By MICHELINE MAYNARD
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Delta Air Lines introduced a three-tier system that will require as many as 60,000 miles for a last-minute domestic coach ticket.
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Clay T. Whitehead, Guide of Policy That Helped Cable TV, Is Dead at 69
Posted: July 31st, 2008, 1:09am EDT by By DENNIS HEVESI
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Mr. Whitehead laid the groundwork for Open Skies, the policy that led to the creation of the domestic satellite system that brought cable television into millions of American homes.
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Amgen Told to Reword Drug Label
Posted: July 31st, 2008, 1:05am EDT by By ANDREW POLLACK
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The Food and Drug Administration has ordered Amgen to change the labels for its flagship anemia drugs in a way that could further restrict their use in treating patients with cancer.
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Amid Salmonella Case, Food Industry Seems Set to Back Greater Regulation
Posted: July 31st, 2008, 12:38am EDT by By BINA VENKATARAMAN
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Industry leaders are questioning whether the weak produce-tracking rules that many of them once championed are more a curse than a blessing, several food safety experts say.
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Practically Speaking: The Nimble Exploit Little Efficiencies
Posted: July 31st, 2008, 12:38am EDT by By MICKEY MEECE
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Small and midsize businesses that rely on driving to make money are adapting to a volatile energy landscape in different ways.
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German Court Overturns Smoking Bans in 2 States
Posted: July 31st, 2008, 12:22am EDT by By NICHOLAS KULISH
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The Federal Constitutional Court in Karlsruhe found that regional smoking bans discriminated against small one-room bars.
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Nissan Offering Buyouts to Cut About 1,200 Jobs in Tennessee
Posted: July 31st, 2008, 12:21am EDT by By THE ASSOCIATED PRESS
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The automaker said rising fuel prices and the economic downturn have slowed sales of trucks and sport utility vehicles.
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Bush Signs Sweeping Housing Bill
Posted: July 31st, 2008, 12:18am EDT by By DAVID M. HERSZENHORN
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The bill offers protections for the nation’s mortgage finance giants and help for troubled homeowners.
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Fed Extends Emergency Borrowing Program
Posted: July 31st, 2008, 12:17am EDT by By THE ASSOCIATED PRESS
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The program, which allows investment houses to tap the central bank for a quick source of cash, is intended to help ease a tight credit market.
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United Sues Pilots, Saying Job Action Canceled Hundreds of Flights
Posted: July 31st, 2008, 12:17am EDT by By MICHELINE MAYNARD
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United Airlines filed suit in federal court against its pilots’ union, asking it to stop pilots from engaging in slowdowns it said led to the cancellation of hundreds of flights.
