Canadian foreign holdings surge $6.1B
Ottawa | May 10, 2008 12:01:13 AM IST
Canadian acquisitions of foreign securities and foreign acquisition of Canadian stocks and bonds rose in February, Statistics Canada said Monday.

 U.S. stock indexes lower Monday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes trended down Monday after Bank of America's first-quarter report showed a 77 percent drop in income.

 Bank of America buffeted in first quarter
New York | May 10, 2008 12:01:13 AM IST
Bank of America's first-quarter report for 2008 showed it was not immune to the economic problems that have plagued U.S. financial companies recently.

 Strike may prompt panic buying in Britain
Stirlingshire, Scotland | May 10, 2008 12:01:13 AM IST
A two-day work stoppage scheduled in Scotland could be the catalyst for panic gasoline buying throughout Britain, various sources said.

 Ghana hosts United Nations conference
Accra, Ghana | May 10, 2008 12:01:13 AM IST
International leaders convened in Ghana's capital of Accra Monday for the United Nations Conference on Trade and Development.

 Teacher strike planned in Britain
London | May 10, 2008 12:01:13 AM IST
A one-day National Union of Teachers strike in Britain will close an estimated 1,000 schools across the country Thursday, organizers said.

 Paramount group plans new TV movie channel
Los Angeles | May 10, 2008 12:01:13 AM IST
Paramount Pictures announced a joint venture to create a premium cable television channel that officials of the company said will compete with HBO and Showtime.

 Pilots union employees picket their boss
Fort Worth, Texas | May 10, 2008 12:01:13 AM IST
Employees who work for a pilots union in Texas are picketing their employer because they don't have a contract, an employee representative said.

 Auto sales forecasts decline
Detroit | May 10, 2008 12:01:13 AM IST
Automobile industry analysts say they are reducing their sales estimates for 2008 in view of declines so far this year.

 Sony plans new role for PlayStation 3
Los Angeles | May 10, 2008 12:01:13 AM IST
Sony Corp. plans to unveil an online video service that would run through its blockbuster PlayStation 3, various sources said.

 Crude prices rise on supply concerns
New York | May 10, 2008 12:01:13 AM IST
Crude oil prices climbed to a yet another record Monday on the New York Mercantile Exchange on reports of supply disruptions in Nigeria and at sea.

 U.S. stock indexes mixed Monday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes were mixed at the close Monday, following last week's gains and Friday's big rally.

 Labor Department sues company over wages
Denver | May 10, 2008 12:01:13 AM IST
The U.S. Department of Labor said it filed a lawsuit Monday in order to recover more than a million dollars in overtime from Aggregate Industries, WRE Inc.

 EPA, industry agree on energy cut goal
Washington | May 10, 2008 12:01:13 AM IST
A major U.S. manufacturers group said Monday it has agreed to try to reduce energy use in the industrial sector by 10 percent or more.

 Grain export reports mixed Monday
Chicago | May 10, 2008 12:01:13 AM IST
U.S. grain export reports showed mixed results Monday, with corn below expectations, while wheat and soybeans exceeded theirs.

 Japan faces shrinking labor force
Tokyo | May 10, 2008 12:01:13 AM IST
Japan's twin problems of aging population and declining birth rate threaten to shrink its labor force by a third by 2050, officials said.

 Samsung chairman resigns
Seoul | May 10, 2008 12:01:13 AM IST
Lee Kun-hee, chairman of South Korean conglomerate Samsung Group who was indicted last week on tax evasion and breach of trust, resigned Tuesday.

 Thailand rice exports to continue
Bangkok | May 10, 2008 12:01:13 AM IST
Thailand won't move to ban rice exports to battle rising food costs, as other countries have done, government leaders said Monday.

 U.S. business leaders confident in India
New Delhi | May 10, 2008 12:01:13 AM IST
U.S. businesses leaders said they are confident that economic growth in India will continue, a survey released Monday by Ernst and Young indicated.

 Huge regional GDP surges seen in Canada
Ottawa | May 10, 2008 12:01:13 AM IST
Growth of gross domestic product exceeded Canada's national rate of 2.7 percent in all three territories and five of the 10 provinces in 2007, figures show.

 Wrigley board approves merger with Mars
Chicago | May 10, 2008 12:01:13 AM IST
Chicago chewing gum maker Wm. Wrigley Jr. Co. announced Monday it had agreed to a merger with Mars, Inc. for $23 billion.

 U.S. markets trade on tight ranges Monday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes moved in narrow ranges Monday as investors await the announcement of a Federal Reserve Bank fund rate decision this week.

 Poll: Heathcare and money troubles linked
Washington | May 10, 2008 12:01:13 AM IST
A Kaiser Family Foundation poll released Tuesday said many U.S. residents have suffered financial consequences due to healthcare costs.

 Grains pivot on supply and demand report
Chicago | May 10, 2008 12:01:13 AM IST
Grain trading on the Chicago Board of Trade pivoted on a supply and demand report issued by the U.S. Department of Agriculture Friday.

 Crude prices ease slightly Tuesday morning
New York | May 10, 2008 12:01:13 AM IST
Crude oil prices eased Tuesday morning to less than $118 a barrel although news of supply disruptions in Nigeria and Scotland continued.

 General Motors axes 970 in Canada
Oshawa, Ontario | May 10, 2008 12:01:13 AM IST
Almost 1,000 workers for General Motors of Canada will be laid off in September because of falling demand, the company announced.

 U.S. retail sales up slightly on the week
Washington | May 10, 2008 12:01:13 AM IST
Retail sales in the United States increased 0.9 percent for the week ended April 26, the International Council of Shopping Centers-USB reported Tuesday.

 Train strike in Moscow ends in a day
Moscow | May 10, 2008 12:01:13 AM IST
A one-day train drivers strike in Moscow stranded thousands of commuters but didn't deliver the desired results, a union representative said.

 Tips tight as economy slumps
Los Angeles | May 10, 2008 12:01:13 AM IST
As the economy slumps, service workers report that a largely untracked portion of the economy -- the custom of tipping -- has declined significantly.

 Truckers protest fuel prices in capital
Washington | May 10, 2008 12:01:13 AM IST
A truck drivers' Washington protest of fuel costs largely fizzled in the rain Monday but their horn-blowing was not unheard, various politicians said.

 Canadian manufacturing flat in 2007
Ottawa | May 10, 2008 12:01:13 AM IST
Canadian manufacturers posted a 0.4 percent increase in sales to $613.4 billion in 2007, Statistics Canada reported Tuesday.

 U.S. markets near holding pattern Tuesday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes stayed close to neutral Tuesday morning as the U.S. Federal Reserve Open Market Committee headed into a two-day session.

 U.S. markets slide on Friday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes slipped in early afternoon trading Friday, as oil prices pushed upward, triggering inflation worries.

 Judge OKs Dutch baggage handlers strike
Amsterdam, Netherlands | May 10, 2008 12:01:13 AM IST
A strike of baggage handlers at Schiphol Airport in the Netherlands would not jeopardize airport security, a judge in Amsterdam ruled.

 Deluxe Bottle and Food Warmers recalled
Washington | May 10, 2008 12:01:13 AM IST
The U.S. Consumer Product Safety Commission announced a voluntary recall Friday of Deluxe Bottle and Food Warmers due to fire hazard.

 Fingerhut pressure washers recalled
Washington | May 10, 2008 12:01:13 AM IST
The U.S. Consumer Product Safety Commission announced a voluntary recall Friday of Craft Pressure Washers due to fire hazard.

 Honda FourTrax Foreman ATVs recalled
Washington | May 10, 2008 12:01:13 AM IST
The U.S. Consumer Product Safety Commission announced a voluntary recall Friday of Honda Motor Co. all-terrain vehicles due to loss of steering control.

 Microsoft to appeal $1.38 billion fine
Redmond, Wash. | May 10, 2008 12:01:13 AM IST
Microsoft Corp. will appeal the $1.38 billion fine imposed by the European Commission in February, the company said Friday.

 Oil prices at more than $126 a barrel
New York | May 10, 2008 12:01:13 AM IST
Crude oil prices climbed to the end of trading on the New York Mercantile Exchange Friday, reaching a record $126.06 per barrel.

 Dreamliner delays may cost Boeing billions
Chicago | May 10, 2008 12:01:13 AM IST
Production delays on the 787 Dreamliner could cost Chicago's Boeing Co. billions in late fees, industry analysts said.

 Tracinda fishes for 20 million Ford shares
Dearborn, Mich. | May 10, 2008 12:01:13 AM IST
Billionaire Kirk Kerkorian announced a tender offer for 20 million shares of Dearborn, Mich., automaker Ford Motor Co. Friday, an official filing shows.

 U.S. markets stumble in 19th week
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes chugged close to the break-even point for the year through 18 weeks, then stalled, the Dow index falling 2.4 percent through the 19th week.

 Poll: Retirement funding looks to change
Princeton, N.j. | May 10, 2008 12:01:13 AM IST
Current and future retirees in the United States have sharply contrasting expectations about how they will fund their retirement years, Gallup said Friday.

 King Khan launches first Reebok Knight Riders Store in Kolkata
Kolkata | May 10, 2008 11:39:31 PM IST
Kolkota, May 9 (ANI - Business Wire India): Reebok India on Friday created history of sorts by bringing sports and stardom together.

 
New York | May 09, 2008 12:01:13 AM IST
U.S. stock indexes fell marginally in early afternoon trading Tuesday, while investors anticipate a small reduction in key lending rates.

 Leading economists say recession is here
Washington | May 09, 2008 12:01:13 AM IST
The U.S. economy has reached the point of being in recession, leading economists indicated Tuesday.

 World Bank denounces export bans
Berne, Switzerland | May 09, 2008 12:01:13 AM IST
World Bank Group President Robert Zoellick called in Switzerland Tuesday for immediate action on food shortages and denounced the banning of food exports.

 Continental backed away from the numbers
Houston | May 09, 2008 12:01:13 AM IST
Continental Airlines Inc.'s decision to forgo any merger was a decision based on big numbers, a source close to the company said.

 United turns to second choice Tuesday
Chicago | May 09, 2008 12:01:13 AM IST
Combining United Airlines with US Airways Group is not as good a fit as a United merger with Continental, industry analysts said Tuesday.

 World Bank denounces food export bans
Berne, Switzerland | May 09, 2008 12:01:13 AM IST
World Bank Group President Robert Zoellick called in Switzerland Tuesday for immediate action on food shortages and denounced the banning of food exports.

 Big oil starts big public relations push
Washington | May 09, 2008 12:01:13 AM IST
U.S. oil companies have begun a national public relations campaign meant to counter their negative image, an industry lobby group said.

 King Khan launches first Reebok Knight Riders Store in Kolkata
Kolkata | May 09, 2008 9:38:22 PM IST
Kolkota, May 9 (ANI - Business Wire India): Reebok India on Friday created history of sorts by bringing sports and stardom together.

 Consumer confidence slid further in April
New York | May 09, 2008 12:01:13 AM IST
The U.S. Consumer Conference Board said Tuesday that its monthly index of consumer confidence declined further in April.

 Continental could try partnership next
Houston | May 09, 2008 12:01:13 AM IST
Continental Airlines is looking at partnership deals with American Airlines, sharing services but stopping short of a merger, industry analysts said Tuesday.

 Nintendo recalls character lapel pins
Washington | May 09, 2008 12:01:13 AM IST
The U.S. Consumer Product Safety Commission announced a voluntary recall Tuesday of Nintendo of America Inc. lapel pins.

 WiMax future may start in Chicago
Chicago | May 09, 2008 12:01:13 AM IST
The future of wireless communication may have its start this year in Chicago, industry observers said.

 U.S. markets start Friday with hard slide
New York | May 09, 2008 12:01:13 AM IST
U.S. stock markets, close to even on the year a week ago, slipped further into red ink in early trading Friday, as oil prices continued a relentless surge.

 Foreclosures on the rise in Britain
London | May 09, 2008 12:01:13 AM IST
Foreclosures in Britain rose 16 percent in the first quarter of 2008, coming close to levels experienced in the 1990s, the government said.

 Crude prices drop dramatically Tuesday
New York | May 09, 2008 12:01:13 AM IST
Crude oil prices dropped by more than $2 a barrel Tuesday as the dollar regained strength in expectation of a U.S Federal Reserve announcement due Wednesday.

 General Motors scales back on big vehicles
Detroit | May 09, 2008 12:01:13 AM IST
General Motors Corp. announced the move toward more fuel efficient cars would cost employees 3,500 jobs at four North American car plants.

 Rockefellers ask Exxon to split leadership
Dallas | May 09, 2008 12:01:13 AM IST
Members of the Rockefeller family are urging Exxon Mobil Corp. shareholders to vote to split company leadership into two different positions, U.S. sources said.

 Canadian tax man to monitor eBay incomes
Ottawa | May 09, 2008 12:01:13 AM IST
Canada's Federal Court of Appeal has ordered the online auction operator eBay Canada to provide data to the tax man on how much people are earning in sales.

 American joins peers with second bag fee
Fort Worth, Texas | May 09, 2008 12:01:13 AM IST
American Airlines Inc. joined its peers by saying it would begin charging passengers for checking a second bag.

 U.S. markets close mixed Tuesday
New York | May 09, 2008 12:01:13 AM IST
U.S. stock indexes closed mixed Tuesday, as investors seemed to be holding tight in anticipation of a U.S Federal Reserve announcement expected Wednesday.

 Corn, wheat, soy lower Tuesday
Chicago | May 09, 2008 12:01:13 AM IST
Corn and wheat traded lower Tuesday, while soybeans traded on both sides before falling late in the day.

 Japan's interest rate left unchanged
Tokyo | May 09, 2008 12:01:13 AM IST
Japan's central bank Wednesday left the short-term interest rate unchanged at 0.5 percent ahead of an expected lowering of its economic growth forecast.

 Fertilizer shortage adding to food crisis
New York | May 09, 2008 12:01:13 AM IST
Rising fertilizer prices and shortages stand as a threat to proper nutrition for tens of millions of the world's people, food experts are saying.

 Crude prices hold steady Wednesday morning
New York | May 09, 2008 12:01:13 AM IST
A slide of more than $2 Tuesday to less than $116 a barrel, held through overnight trading on the New York Mercantile Exchange Wednesday morning.

 Mortgage index declines on week
Washington | May 09, 2008 12:01:13 AM IST
The Mortgage Bankers Association's leading index of mortgage activity fell in the week ending April 25, the association said Wednesday.

 U.S. markets push upward Wednesday
New York | May 09, 2008 12:01:13 AM IST
Stock indexes pushed upward Wednesday in early afternoon trading on a mix of economic reports.

 Canadian employment edged up in April
Ottawa | May 09, 2008 12:01:13 AM IST
Canada's employment rose slightly in April by 19,000 full-time and self-employed positions, Statistics Canada reported Friday.

 Some U.S. retailers and tobacco part ways
San Francisco | May 09, 2008 12:01:13 AM IST
U.S. retailers are dropping out of the cigarette business and finding a supportive reaction from customers, retailers say.

 Inflation to remain stable for some weeks before falling: Chidambaram
New Delhi | May 09, 2008 6:32:17 PM IST
Finance Minister P Chidambaram on Friday said that inflation is more or less stable and described the marginal increase in the annual wholesale price inflation rate in late April as a major relief in New Delhi.

 Private jobs grew modestly in April
Washington | May 09, 2008 12:01:13 AM IST
Private jobs not related to farm work increased in the United States by 10,000 between March and April, an ADP National Employment report said Wednesday.

 Food and fuel prices linked, experts say
Washington | May 09, 2008 12:01:13 AM IST
The increased use of corn for ethanol production has linked the economies of food and fuel, neither of which are dropping in price, policy experts said.

 Fed to balance growth and inflation
Washington | May 09, 2008 12:01:13 AM IST
The U.S. Federal Reserve decision to cut lending rates or keep them steady balances inflation and economic growth, analysts said Wednesday.

 Gross domestic product pulls up slightly
Washington | May 09, 2008 12:01:13 AM IST
Advanced figures on the first quarter gross domestic product released Wednesday indicate the U.S. economy is just above the level of recession, officials said.

 U.S. markets advance Wednesday morning
New York | May 09, 2008 12:01:13 AM IST
Stock indexes climbed Wednesday morning after the U.S. Commerce Department said the U.S. gross domestic product had risen 0.6 percent in the first quarter.

 FedEx dodges union bullet in Washington
Washington | May 09, 2008 12:01:13 AM IST
U.S. senators in Washington have sidestepped a rule that would allow FedEx workers greater access to unions, policy observers said.

 Nationwide closes on rise of fuel costs
Capetown, South Africa | May 09, 2008 12:01:13 AM IST
Nationwide Airlines of South Africa announced Tuesday that it was volunteering for liquidation after a sharp rise in fuel costs.

 Kodak denies part in swap for lower taxes
Rochester, N.y. | May 09, 2008 12:01:13 AM IST
Eastman Kodak officials denied the company donated land to Greece, N.Y., in a swap for lower property assessments.

 Canada extends tax filing for some
Ottawa | May 09, 2008 12:01:13 AM IST
Canada extended Wednesday's midnight electronic income tax filing deadline for some taxpayers because of computer overload.

 Crude oil prices fall on Fed rate cut
New York | May 09, 2008 12:01:13 AM IST
Crude oil prices dropped Wednesday on word that the U.S. Federal Reserve would cut its benchmark lending rate to 2 percent.

 Ad for Trump project startles Charlotte
Charlotte, N.c. | May 09, 2008 12:01:13 AM IST
A derailed 70-story high rise project in Charlotte, N.C., appeared to be back track when it appeared in an advertisement for the Wachovia Golf Championship.

 Barclays accused of sanctions breach
London | May 09, 2008 12:01:13 AM IST
British Member of Parliament Norman Lamb alleged Wednesday that Barclays Bank is providing services for sanctioned members of the Zimbabwean government.

 Canadian economy slipped in February
Ottawa | May 09, 2008 12:01:13 AM IST
Wholesale trade and manufacturing led Canada's economy to slow by 0.2 percent overall in February, Statistics Canada reported Wednesday.

 Wendy's CEO could receive $14.8 million
Dublin, Ohio | May 09, 2008 12:01:13 AM IST
Wendy's International Chief Executive Kerrii Anderson could get $14.8 million if a merger with Triarc Cos. is completed, U.S. security filings show Wednesday.

 Federal Reserve cuts lending rate slightly
Washington | May 09, 2008 12:01:13 AM IST
The U.S. Federal Reserve cut the rate banks used to loan each other money by 25 basis points to 2 percent, a bank release announced Wednesday.

 U.S. markets tumble on Fed rate cut
New York | May 09, 2008 12:01:13 AM IST
U.S. stock indexes fell sharply Wednesday on news the Federal Reserve had cut its benchmark lending rate to 2 percent.

 DeWalt DW744 Jobsite Table Saws recalled
Washington | May 09, 2008 12:01:13 AM IST
The U.S. Consumer Products Safety Commission has announced a voluntary recall of DeWalt DW744 Jobsite Table Saws.

 GE Hitachi picks site for enrichment plant
Wilmington, N.c. | May 09, 2008 12:01:13 AM IST
A subsidiary of GE Hitachi Nuclear Energy has selected Wilmington, N.C., as the site of a proposed uranium enrichment plant for the nuclear fuel industry.

 Victoria's Secret sued over rump slogans
New York | May 09, 2008 12:01:13 AM IST
Juicy Couture filed suit against Victoria's Secret in a New York federal court, claiming the lingerie giant stole its idea to print words on women's behinds.

 Wheat trades tentative Wednesday
Chicago | May 09, 2008 12:01:13 AM IST
U.S. grain trades pivoted on negotiations in Argentina Wednesday with reports that talks between farmers and the government could be extended.

 Fiat investing in Serbian automaker
Turin, Italy | May 09, 2008 12:01:13 AM IST
Italian automaker Fiat is buying a 70-percent stake in Zastava, the Serbian car maker, for $1.09 billion.

 Used car prices keep dropping
Toronto | May 09, 2008 12:01:13 AM IST
Times will be tough for used car dealers in North America, with car prices predicted to fall through this and into next, an industry report indicated Wednesday.

 Crude oil prices return to gains Thursday
New York | May 09, 2008 12:01:13 AM IST
Crude oil prices rose slightly to more than $113 a barrel in overnight trading after a fall Wednesday when the the U.S. Federal Reserve cut a key lending rate.