webmaster @ November 10, 2008 # No Comment Yet
NEW YORK (CNNMoney.com) — Circuit City Stores Inc., the No. 2 electronics seller after Best Buy, filed for bankruptcy protection Monday, thus becoming the latest retailer hurt by a worsening economic downturn.
According to the company’s Chapter 11 filing with the U.S. bankruptcy court in Richmond, Va., Circuit City (CC, Fortune 500), which currently has 566 […]
webmaster @ November 6, 2008 # No Comment Yet
NEW YORK, Nov 6 (Reuters) - Craigslist, the popular Internet classifieds listing service, agreed on Thursday to crack down on advertisements posted by prostitutes in a pact struck with 40 U.S. states.
The listings site has been under pressure to screen out cyber advertisements that offer sexual services. These listings have given prostitutes easy access to […]
webmaster @ October 29, 2008 # No Comment Yet
Delta Air Lines swallowed rival Northwest Airlines Inc on Wednesday in a $2.6 billion merger that created the world’s biggest airline and prompted new speculation about further industry consolidation.
The all-stock transaction, the first domestic airline combination in three years, closed after clearing its biggest and last regulatory hurdle earlier in the day — U.S. Justice […]
webmaster @ October 28, 2008 # No Comment Yet
October 28, 2008: 09:57 AM EST
LOS ANGELES -(Dow Jones)- Microsoft’s newly announced "cloud computing" platform, Windows Azure, will be profitable for the company, the executive who runs its server business said Monday.
"We will wind up having a business model that we think will be profitable," Bob Muglia said, although he added that building out the […]
webmaster @ October 22, 2008 # No Comment Yet
Crude Oil Falls as Waning Demand Outweighs Prospect of OPEC Cut
Oct. 22 (Bloomberg) — Crude oil fell for a second day as weakening fuel demand outweighed prospects of a production cut by OPEC at a meeting this week.
U.S. gasoline demand has declined for the past six months and China’s economy has slowed amid […]
webmaster @ October 20, 2008 # No Comment Yet
Fed chief says lawmakers should consider another plan to boost economy. He cites risk of ‘protracted slowdown.’
NEW YORK (CNNMoney.com) — Federal Reserve Chairman Ben Bernanke testified Monday that Congress should consider passing a new stimulus package to try to jump start the economy.
Bernanke, speaking before the House Budget Committee, came just short of an outright […]
webmaster @ October 9, 2008 # No Comment Yet
A degree of calm returned to the world’s stockmarkets today following yesterday’s coordinated global rate cut.
In London, the FTSE 100 jumped more than 3% at one stage this morning to a high of 4512, up 145 points, and was up 82 points mid-afternoon. Banks continued to recover following the UK goverment’s £500bn rescue plan announced […]
webmaster @ October 8, 2008 # No Comment Yet
Stock futures fell as enthusiasm waned following rate cut by Fed and other central banks
NEW YORK (CNNMoney.com) — U.S. stock futures pointed to a lower open, as the initial enthusiasm following the Federal Reserve’s announcement of an emergency rate cut wore off.
U.S. futures were volatile all morning, initially trading sharply lower on the heels […]
webmaster @ October 8, 2008 # No Comment Yet
Fed futures show more expecting ease in policy after Bernanke speaks
NEW YORK (MarketWatch) — Treasury prices fell Tuesday, pushing short-term yields up for the first time in a week, after Ben Bernanke hinted the Federal Reserve is open to lower interest rates and the central bank moved to purchase commercial paper to ease corporate borrowing […]
webmaster @ October 5, 2008 # No Comment Yet
A sworn affidavit filed this weekend in federal court by Wachovia Corp. Chief Executive Robert K. Steel paints a picture of a perilous situation in which the eighth-largest U.S. bank in stock-market value was caught between competing takeover bids while facing enormous pressure from the Federal Deposit Insurance Corp. to sell itself.
The affidavit suggests that […]