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Washington Post
41 items
Long a Reliable Profit Source, Dividends Start to Crumble
The credit crisis and economic slowdown have become so grave that many companies are chopping dividend payments to their shareholders.
For the Big Bucks, Try a Little Yuk Yuk
Should companies use levity to boost their bottom line? Could laughter help firms keep workers?
Proposed Change in Global Trading Rule Raises Risks
The Securities and Exchange Commission has proposed a new rule that might have passed you by. I'm alerting you here because it speaks volumes about where trading is going in the United States. For many, it offers new opportunities. We'll also be importing new risks, in the future, that we may reg...
Fund Managers' Vote of No Confidence
If you bought shares of a mutual fund, wouldn't it comfort you to know that the fund's manager had sunk some of his own money into the same investment? And what if you were to learn that your fund manager -- the custodian of your investment dollars -- didn't have enough faith in the fund to toss ...
Bernanke and Paulson Head to the Hill
After last week's big jobs report, settle in for a quiet week of readings on the economy. More interesting than any data this week may be congressional testimony by Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry M. Paulson Jr., who will explain to the Senate Banking Committ...
The Home-Equity Door Slams Shut
Some 122,000 borrowers with Countrywide home-equity lines of credit, or HELOCs, received letters in January informing them that they could no longer withdraw funds from their lines. A few months later, thousands of customers of other major lenders -- including Bank of America, J.P. Morgan Chase, ...
Avoid Investing Charges By Trading -- Firms, That Is
Kiplinger's Personal Finance shows you how to avoid the most annoying fees and save thousands of dollars a year.
Three Global Balanced Funds Worth Buying
If you wanted to put all your eggs in one basket and forget about them, a global balanced fund seems hard to beat. Such an all-in-one fund invests in a broad range of stocks and bonds in the United States and overseas. You don't have to figure out how to distribute your money among different asse...
As Summit Approaches, G-8 Weighs Expansion
TOKYO -- The Group of Eight, holding its summit in Japan starting Monday, has always been a club for the world's biggest economies. Now a growing chorus is saying it's time that the clubhouse doors swing open to some newcomers.
Decree for 'Chinatown Buses' Goes Nowhere
The District made an emergency rule May 28 requiring all "Chinatown buses" to move to L'Enfant Plaza immediately.
Seeking Bang for Their Bucks
Vendors in the city yesterday encouraged pocketbook patriotism with $8 barbeque sandwiches, hotel packages, Independence Day discount mattresses, red-white-and-blue leis and souvenir T-shirts.
Where the Car Is King, Tysons Faces a Dilemma
Think there's no such thing as too much parking? Take a look at Tysons Corner, where there's more parking than jobs, more parking than office space, more parking than in downtown Washington.
Discovering Meaning In Modern
W hen it comes to architecture, nothing bothers Simon Jacobsen more than those who confuse "modern" with "contemporary."
Closed-Door Deal Could Open Land In Montana
MISSOULA, Mont. -- The Bush administration is preparing to ease the way for the nation's largest private landowner to convert hundreds of thousands of acres of mountain forestland to residential subdivisions.
U.S. Workforce Shrinks For 6th Straight Month
Employers cut 62,000 jobs in June, marking the sixth consecutive month that the nation has shed jobs, according to a government report released yesterday, deepening concern that the struggling U.S. economy could turn worse before it gets better.
Gay-Marriage Opponents To Boycott McDonald's
A group that opposes same-sex marriage has called for a boycott of McDonald's, saying the fast-food giant has refused "to stay neutral in the cultural war over homosexuality."
YouTube Ordered To Release User Data
A federal judge in New York this week ordered the video-sharing site YouTube, the world's third-most-visited Web site, to release data on the viewing habits of its tens of millions of worldwide viewers.
Pulled Under by Plastic
When Andrew Uribe started building his salsa-making venture, he, like many entrepreneurs, turned to plastic for start-up money.
David G. Speck
If I don't want to be in stocks right now, what should I do with my investment money?
Paul Dietrich
Since 1945, the average bear market has lasted about two years and knocked the S&P 500-stock index down 36 percent. Now is not the time to drink the "buy and hold" investment strategy Kool-Aid. Be conservative, limit your risk -- and sleep well knowing your investment principal is not going to...
George Muñoz
If I don't want to be in stocks right now, what should I do with my investment money?
Altering the Economics of Civil Litigation
No doubt they were throwing back double vodkas at the U.S. Chamber of Commerce last week following the Supreme Court's decision to cut the punitive damages in the Exxon Valdez oil spill to a week's worth of Exxon Mobil's profits.
The Economy? Words Fail Me.
Think you're worried about the economy? Phillip Swagel is a wreck.
Gandhi Works on Image Control
Natwar M. Gandhi calls himself an apolitical bean counter, but the D.C. government's chief financial officer begins his daily routine with a long-standing Washington rite: the power breakfast.
How Lehman Brothers Veered Off Course
If you want to see what's wrong with Lehman Brothers, the investment bank with a storied name but a troubled present, you need to leave the canyons of Wall Street and head to the flatlands of exurban Bakersfield, Calif., some 120 miles northeast of Los Angeles. That's where you find McAllister...
Southwest, FAA Relationship Cited in Probe
A cozy relationship between the Federal Aviation Administration and Southwest Airlines led to safety lapses last year that put thousands of passengers at risk, according to a government report released yesterday.
Bush Officials Condoned Regional Iraqi Oil Deal
Bush administration officials told Hunt Oil last summer that they did not object to its efforts to reach an oil deal with the Kurdish regional government in northern Iraq, even while the State Department was publicly expressing concern that such contracts could undermine a national Iraqi petroleu...
Color of Money Book Club
Trying Too Hard, and Suffering in Comparison
We liked the Lincoln. We loved the Buick. Our emotional intensity is affected by product competence. Put another way: The 2008 Buick Lucerne Super, reviewed here last week, trumps today's subject car, the 2009 Lincoln MKS sedan.
Fugitive Fund Manager Turns Himself In
A hedge-fund manager who faked his own suicide and went on the run after being convicted of defrauding investors of millions of dollars turned himself in yesterday at a police station in Massachusetts.
With $100 Million Influx, MiddleBrook CEO Is Out
Edward M. Rudnic, MiddleBrook Pharmaceuticals's chief executive, plans to leave the company he founded in exchange for an outside investment of $100 million.
McCain Puts New Strategist Atop Campaign
Facing growing dissatisfaction both inside and outside his campaign, Sen. John McCain ordered a shake-up of his team yesterday, reducing the role of campaign manager Rick Davis and vesting political adviser Steve Schmidt with "full operational control" of his bid for the presidency.
In Venti Retreat, 600 Starbucks to Close
Starbucks Coffee, once the fast-growing darling of the retail world, said yesterday that it was closing 600 U.S. stores and cutting as many as 12,000 jobs as it tries to right-size itself in the face of stiffer competition, a bleak economy and growth that appears to have outpaced demand.
Tomatoes Still Lead List of Suspects in Salmonella Probe
The tomato investigators are stumped. Over the past four weeks, they have pored over records, collected hundreds of samples and interviewed dozens of patients to find the cause of a salmonella outbreak. So far, their efforts haven't produced an answer, and they have begun to question whether their...
SUV Drivers Burned Twice: At the Pump, on the Car Lot
Americans' love affair with 22-inch rims, eight cylinders and four-wheel drive wrapped in an 8,000-pound package is over. And the breakup is going to cost.
Whip Inflation Now, Before It Whips You
We've all been so focused on whether we are officially in a recession that we may not have paid enough attention to the creeping threat of inflation.
For Hosts, Games Lose Some Luster
BEIJING -- It seemed like a great idea last year, starting a hotel-reservation Web site for this summer's Olympic Games. Companies had been calling travel agencies 17 months in advance to book rooms.
A Backlog Of Cases Alleging Fraud
More than 900 cases alleging that government contractors and drugmakers have defrauded taxpayers out of billions of dollars are languishing in a backlog that has built up over the past decade because the Justice Department cannot keep pace with the surge in charges brought by whistle-blowers,...
Obama Got Discount on Home Loan
Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois.
McCain Stressing Trade On Latin American Trip
CARTAGENA, Colombia, July 1 -- Sen. John McCain arrived here Tuesday night on his third foreign trip since clinching the Republican presidential nomination, the latest attempt to embellish his international credentials at a time when the electorate is increasingly focused on domestic issues.
Groups Sue U.S. for Data On Tracking By Cellphone
Two civil liberties groups filed a lawsuit against the U.S. government yesterday, seeking records related to the government's use of cellphones as tracking devices.
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New York Times
27 items
Costly Cancer Drug Offers Hope, but Also a Dilemma
Avastin, which can cost as much as $100,000 a year, has become one of the most popular cancer drugs, but studies show it prolongs life by only a few months.
As Web Traffic Grows, Crashes Take Bigger Toll
As the Web has become an irreplaceable part of life, users have become less forgiving of even occasional outages.
American Energy Policy, Asleep at the Spigot
Today’s oil crisis could have been foreseen, but analysts say chances to head it off were ignored, missed or blocked.
Employers Fight Tough Measures on Immigration
Businesses are proposing alternatives to laws with harsh punishments for hiring illegal immigrants, reopening a rift in the Republican Party.
Metrics: Cashing In on Obama and McCain
Nearly half of the $900 million presidential candidates have spent on their campaigns has been paid to just a few dozen companies.
Economic View: Untying a Knot in Campaign Finance
Barack Obama campaign’s approach to reject public financing may offer the only realistic possibility of limiting the corrupting influence of money in politics.
Fundamentally: A Bear Market, Mauling Not Included
While you’re probably not happy with the returns of your portfolio right now, if you have been a conservative, diversified investor, you may well be doing better than the overall stock market.
Checking In: Trump’s Adventures in the Land of Golf
Donald Trump’s project for a golf resort on the northeast coast of Scotland, near Aberdeen, hangs in balance as environmentalists say the rugged coastline should be left undisturbed.
Career Couch: How a Promotion Can Test a Friendship
A good working relationship with one’s boss often takes work. It can be even harder if it is your friend who becomes your boss, and harder still if you coveted that position.
Novelties: Electronic Papyrus: The Digital Book, Unfurled
New technologies are developing that make displays flexible, foldable or even as rollable as papyrus, so that large screens can be unfurled from small containers.
Unboxed: If You’re Open to Growth, You Tend to Grow
Adopting either a fixed or growth attitude toward talent can profoundly affect all aspects of a person’s life, a researcher found.
Off the Shelf: The Quandary of a Superpower as Others Race to Catch Up
Two politically divergent experts concur in recent books that the U.S. in the 21st century will remain the globe’s leading power despite a plethora of challenges.
Business: New Bank to Focus on Clients Underserved by Bigger Institutions
The Westchester Bank, opened last month, is focusing on small and medium-size businesses, many of which are getting a cold shoulder from bigger banks.
Shifting Careers: When Ex-Employees Vent, or Reinvent
People may attract the wrath of a former employer for a variety of reasons, but how easy is it for a company to succeed in a legal challenge against a former employee?
The Boss: Back to Business
Mr. Ferguson is the chief executive of Corrections Corporation of America, Nashville, an owner and operator of prisons and other facilities.
For Marketers, Viruses Just Won’t Cooperate
Viral marketing is much harder than negative buzz to generate.
Suits: A Corporate Detective Is Saying Farewell
Jules B. Kroll and the firm that he created , Kroll Inc., were pioneers in modern corporate security and intelligence. Now, at age 67, Mr. Kroll is retiring from the company.
DataBank: Oil Climbs as Stocks Fall. Sound Familiar?
In a pattern that has been repeated for weeks, oil prices rose and the stock market fell.
Letters: Next Time, Improve the Infrastructure
To the Editor:.
Letters: The Tort War, Unresolved
To the Editor:.
Letters: Reason and the Heart
To the Editor:.
Late-Period Limbaugh
Bush is wildly unpopular. McCain is nobody’s idea of a movement guy. Conservatism is cracking up. What’s the king of talk radio to do?
Questions for Robert Reich: Short-Straw Economics
The former labor secretary talks about why offshore drilling won’t solve high gas prices, the cash benefits of keeping things on the small side and dating Hillary Clinton.
The Medium: File-Sharing Fetish
Eclectic video-sharing that doesn’t succumb to the porn imperative.
What Safety Net?
Peter Gosselin reports that setbacks like a serious illness or losing a job are now more likely to mean an economic disaster.
Ideas & Trends: Sit. Stay. Love.
If you don’t play well with others, is a pet a healthy substitute?
Fair Game: A Window in a Smoky Market
The market for credit default swaps, one of the hottest and also foggiest, might just get a bit clearer, if a new accounting rule goes into effect.
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Wall Street Journal
18 items
Buyout Banks Take Peace-Making Turn
A group of banks and buyout firms helped salvage the $52 billion takeover of Canadian telecom BCE. The compromise closes a year of bickering about how to fund boom-era deals and may help banks begin new lending commitments.
BP Sues TNK-BP Russia Partners
BP has sued its Russian partners at its TNK-BP joint venture to recover a $370 million debt in the latest dispute in a deepening rift.
Long-Term Unemployment Rises
The jobless rate held steady at 5.5% in June, but the number unemployed for six months or more has risen sharply over the past year.
NBC Nears Weather Channel Deal
The long-running auction of the Weather Channel is nearing an end. General Electric's NBC Universal and two financial partners are expected to conclude a $3.5 billion deal to buy the cable-television channel as soon as this weekend.
UBS Expects to Post Small Loss
UBS warned of a potential small second-quarter net loss, but reassured investors that it wouldn't have to raise capital for a third time this year as tax benefits will mitigate the effect of fresh write-downs related to the mortgage crisis.
Countrywide Pact Nears Approval
A corporate-law judge granted preliminary approval to a settlement that ends a lawsuit over Countrywide's sale to Bank of America. The settlement at issue is between Countrywide and shareholders who sued challenging the sale price.
Adnoc, ConocoPhillips Near Gas Deal
Abu Dhabi National Oil will sign a long-awaited sour gas project deal with ConocoPhillips on July 8 estimated at more than $10 billion.
YouTube, Viacom Fight Over Users
Lawyers for Google asked Viacom for permission to better hide information that might help identify YouTube users before Google complies with a judge's demand that it hand over YouTube "user logs" to Viacom.
Mining Deal to Get Closer Look
The European Commission launched an in-depth investigation into Anglo-Australian miner BHP Billiton's $170 billion bid for rival Rio Tinto.
Investors Rescue B&B Capital-Raising
A group of major investors stepped in to rescue a $793 million capital-raising effort by Bradford & Bingley, after U.S. buyout firm TPG pulled out of a deal to take a stake in the troubled U.K. mortgage lender.
Detroit Faces Corruption Probe
The federal government is investigating the actions of Detroit city officials, including council members, in connection with a $47 million waste-disposal contract awarded to Synagro Technologies last year.
Coke Settles Suit Over Sales to Bottlers
Coca-Cola agreed to a $137.5 million settlement over a longstanding shareholder dispute that claimed the global beverage giant artificially inflated sales to boost its stock price.
GM to Speed Decision on Mini Car
General Motors said it is giving a higher priority to deciding whether it will bring the next-generation Chevrolet Beat mini car -- a vehicle it sells overseas -- to the U.S. market in the 2012 timeframe.
Agriprocessors Supervisors Arrested
Federal agents arrested two supervisors at Agriprocessors, the country's largest kosher meatpacking plant, on charges they helped illegal immigrants secure fake documents and encouraged them to reside in the U.S.
U.S. Contractors Fight Drug Trade
The U.S. has increased its use of contractors to help fight the drug trade world-wide, aiming to stay ahead of tapering budgets and shifting Pentagon priorities
Ex-Refco CEO Gets Prison Sentence
Ex-Refco Chief Executive Phillip Bennett was sentenced to 16 years in prison after he pleaded guilty to criminal charges in a scheme to hide the commodities broker's financial troubles.
Israel Ordered to Start Prison Term
Samuel Israel III was ordered by a judge to immediately begin serving a 20-year prison term. The former hedge-fund executive surrendered following more than three weeks on the run.
Bear Stearns Assets Fall $1 Billion
Assets the Federal Reserve agreed to accept from Bear Stearns to facilitate its sale to J.P. Morgan are now worth about $1 billion less than originally estimated, but the decline isn't enough yet to put taxpayers on the hook for any losses.
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Financial Times
15 items
Obama seeks to tackle doubters
The move from the left seems to be working but policy refinements may just look like flip-flops, reports Andrew Ward
McCain turns to man who made 'The Governator'
Steve Schmidt, the combative Republican given the job of revamping John McCain's faltering presidential campaign, has a Democrat to thank for catapulting him into the big league of US political strategists
Bush to attend Olympics opening
The president and the first lady will go to the opening ceremonies of the Olympic Games in China as human rights activists call for world leaders to boycott the event
G8 under fire for 'failure' to tackle bribery
Group of Eight countries are failing to stamp out corruption and bribery, with damaging implications for trade, business and broader international goals, such as...
Philanthropy goes to the dogs
Generosity often means relinquishing power. It does not mean assigning armies of the less wealthy to tasks of one's own devising, writes Christopher Caldwell
IRS to seek accountants' help on evasion
The US tax service is to solicit the help of top accounting firms in finding foreign banks that fail to identify US clients with investments or income in offshore accounts
McCain vows anti-drug projects with Mexico
John McCain, the Republican US presidential candidate, ended a 24-hour visit to Mexico promising that as president he would ensure greater co-operation with the US's neighbour in its war against drugs
LA Confrontational
Actors and studios should beware: they cannot assume consumers deprived of films will remain loyal. This episode of Star Wars needs a happy ending soon
US jobs fall for sixth straight month
The US lost jobs in June for the sixth month in a row while jobless numbers remained at an elevated level, signalling an ongoing deterioration in the labour market and helping to push back thoughts of a hike in interest rates
Threat of disruption hangs over US ports
Vital west coast ports in the US could face significant disruption after a key contract between workers and employers expired and unions refused to allow a temporary extension
Tentative deal for US missile base in Poland
The agreement, still subject to final approval, removes a big obstacle to a defence system that is controversial within Washington and viewed with suspicion by Russia
Colombian troops rescue Betancourt
Álvaro Uribe, Colombia's president, secured one of the most significant triumphs of his political career when troops freed Ingrid Betancourt and 14 other hostages held by the leftwing Farc guerrillas
EU fears of 'fishing trips' for bank data
US authorities could launch vast trawls of EU citizens' bank records, spending habits, travel history and other personal data under a draft agreement being negotiated...
Quebec reflects on its anniversary
It is unlikely that French explorer Samuel de Champlain knew he would today play a role in an angst-ridden debate over nationhood when he founded Quebec City exactly...
S Korea PM takes steak in beef dispute
Han Seung-soo yesterday attempted to allay public fears by buying 12kg of US sirloin steak. The South Korean prime minister's well-publicised gesture took place as...
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BBC News
32 items
SocGen hit by rogue trader fine
French bank Societe Generale is fined 4m euros for allowing one of its staff members to operate as a rogue trader.
EU probe into BHP targeting Rio
The EU opens an in-depth probe into BHP Billiton's $170bn unsolicited bid for rival miner Rio Tinto.
Iran optimism steadies oil price
The price of oil falls slightly
on hopes Iran will react well to plans to resolve a dispute over its nuclear development.
Baugur investigates switch to UK
Hamleys owner - Icelandic investment group Baugur - says it is examining ways to relocate to the UK.
Air France eyes move to railways
Air France confirms it is in talks with French group Veolia about launching a high-speed rail service.
Fresh record for Indian inflation
Indian inflation reaches its latest record high as food, fuel, cement and steel prices continue to rise.
Australia's Origin scorns BG bid
Australia's Origin urges shareholders to reject a 13.8bn Australian dollar takeover bid from UK rival BG Group.
Former Austrian bank boss jailed
The former head of one of Austria's biggest banks, Bawag, is convicted of fraud charges by a court in Vienna.
Court rules that Pringles 'are not potato crisps'
Pringles, the popular snack food in a tube, are not potato crisps, a High Court judge rules, and should be free of VAT.
Guidelines for financial journalists
Russia risk
Has the row over TNK-BP spooked investors?
Piper Alpha
Recalling the world's worst offshore oil disaster
Stocks tumble
High oil prices fail to bolster global shares
Free-for-all
Kenyans suffer as foreign trawlers grab their fish
Paper trail
Nigeria makes progress on getting back stolen cash
Oil compromise
Iraq's challenge of reviving its oil industry
Protests ahead of Japan G8 summit
Protests begin on the northern Japanese island of Hokkaido ahead of Monday's summit of the G8 nations.
Eurozone rates increase to 4.25%
Interest rates in eurozone countries increase for the first time in 12 months in a bid to combat inflation.
UK investors rescue B&B cash call
Bradford & Bingley confirms that its plan to raise £400m has been rescued by a group of UK investors.
BBC Worldwide shuts phone-in firm
BBC Worldwide is to close a subsidiary firm after it failed to pay £106,000 from premium rate phone-ins to charity.
Vodafone in Ghanaian mobile deal
Mobile provider Vodafone is to expand its presence in Africa by buying a majority stake in Ghana Telecom for £452m.
No paper for Zimbabwe money
A German company which helps Zimbabwe supply its money becomes the latest firm to end its business links.
US loses 62,000 jobs during June
US firms cut jobs for a sixth month in June, stoking fears the world's largest economy is heading for a recession.
Paulson admits regulatory errors
The system for regulating US banks should have performed better, US Treasury Secretary Hank Paulson admits.
Recession in Asia is 'unlikely'
Growth in Asia may slow this year, but a recession is unlikely, the head of the Asian Development Bank says.
BHP almost doubles Chinese prices
Mining giant BHP Billiton secures an deal to almost double prices for Chinese steelmaker Baosteel.
Tax credit to boost UBS results
Swiss bank UBS says it expects to report a small loss at worst for the second quarter after receiving a tax credit.
Fifa to pay in ex-media firm case
Football governing body Fifa told to pay £57,000 costs after a trial into the collapse its ex-media partner ISL.
Opec head sees new oil price rise
The president of oil producers' cartel Opec tells the BBC crude oil prices could rise still further this week.
Watchdog cuts oil supply forecast
World oil supplies will grow more slowly than previously thought over the next five years, warns the International Energy Agency.
India truckers strike over fuel
Nearly four million trucks go off India's roads after their owners begin an indefinite strike to protest against rising fuel bills.
South Asians face fuel price rise
Bangladesh and Pakistan announce further sharp rises in fuel prices as the cost of crude oil continues to soar.
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MarketWatch
10 items
NewsWatch: Stock market braces for oil's ever-higher climb
Stocks could be in for further pressure next week, as surging crude oil prices threaten to tip the broad market more convincingly into bear-market territory.
Gas prices at record high, holiday travel down
As gas prices hit a new high Saturday, Americans were seen cutting back on travel over the holiday weekend.
SportsWatch: Venus beats Serena for fifth Wimbledon singles title
Venus Williams bests younger sister Serena to claim her fifth singles Wimbledon title.
Jalapenos may be salmonella culprit: reports
Jalapeno peppers are the new focus of an investigation into the salmonella outbreak that has sickened hundreds of people in at least 40 states, according to media reports.
NBC, partners near Weather Channel deal - report
NBC Universal and two financial partners are expected to reach a deal to buy the Weather Channel as soon as this weekend, according to a published report.
NewsWatch: Stock market braces for oil's ever-higher climb
Stocks could be in for further pressure next week, as surging crude oil prices threaten to tip the broad market more convincingly into bear-market territory.
Auto Review: 2008 Scion xD -- $5 fight back
We will say this about the Scion xD -- if this is what life will be like in the land of $4 and $5 a gallon gasoline, things won’t be too bad.
NewsWatch: Corporate earnings on track for fourth straight quarterly drop
The profits of large U.S. companies are poised for their fourth straight year-over-year drop, with the housing market collapse and high energy prices accounting for much of the second quarter's pain.
Personal Finance Daily: The week's 10 best Personal Finance stories: June 30-July 4
In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of June 30-July4:
Market Snapshot: Stock market braces for oil's ever-higher climb
Stocks could be in for further pressure next week, as surging crude oil prices threaten to tip the broad market more convincingly into bear-market territory.
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AP
10 items
Challenges abound for Bush at last economic summit
WASHINGTON (AP) -- The problems do not get any easier as President Bush attends his final summit with leaders of industrialized democracies....
Employers use federal law to deny benefits
WASHINGTON (AP) -- Dying of cancer, Thomas Amschwand did everything he was told to make sure his wife would collect on the life insurance policy he had through his employer....
Companies begin quest for oil, gas off Fla. coast
PENSACOLA, Fla. (AP) -- Oil companies once viewed drilling in the deep waters off Florida as cost prohibitive. Politicians feared even the slightest sign of support would be career suicide....
Small-cap stock run could herald broader recovery
NEW YORK (AP) -- Even as Wall Street skids lower almost by the day, and the major indexes have touched the levels of a bear market, some analysts are actually finding some signs in the performance of small-company stocks that might be pointing to the early stages of a much broader recovery....
FBI probe latest setback for beleaguered Detroit
DETROIT (AP) -- Auto industry cutbacks, double-digit unemployment and one of the nation's highest home foreclosure rates have left Detroit with a dreary economic future....
Travel experts: US share of foreign tourists slips
LAS VEGAS (AP) -- Despite the weak U.S. dollar, a boom in international travel around the world hasn't translated into an explosion of foreign tourists to the United States....
SocGen fined over trading scandal
PARIS (AP) -- France's central bank announced Friday that it has fined Societe Generale $6.3 million for "serious shortcomings" in its internal controls that led to nearly $7.8 billion in trading losses announced earlier this year....
Canadian telecom BCE, suitor agree on terms
TORONTO (AP) -- BCE Inc, Canada's largest telecommunications company, said Friday it has agreed on terms of a $35 billion sale to a group led by the Ontario Teachers' Pension Plan in the biggest leveraged buyout ever. The deal is expected to be completed by mid-December....
9 convicted in Austria fraud case
VIENNA, Austria (AP) -- Nine people, including a prominent executive who fled to France in an attempt to elude justice, were convicted Friday of criminal charges in a major Austrian bank fraud case linked to the 2005 collapse of New York-based commodities brokerage Refco Inc....
Smooth sailing for yacht builders despite economy
NEW ORLEANS (AP) -- Fuel prices are soaring and credit markets tightening, but the super-rich are still lining up to pay tens of millions of dollars for mega yachts....
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