Oil prices continue to slide amid fears that a US recession will weaken global demand for crude. Source: BBC News | Business | World Edition | 16 Jan 2008 | 10:56 am
Woolworths' shares fall sharply after the retailer reports a drop in sales amid waning consumer confidence. Source: BBC News | Business | World Edition | 16 Jan 2008 | 10:49 am
Unemployment in the UK fell by 13,000 in the three months to November, government figures show. Source: BBC News | Business | World Edition | 16 Jan 2008 | 10:38 am
Fears of a US recession led to heavy falls across Asia, with the Hang Seng closing at its lowest level since September 2001 and the Nikkei 225 ending at a two-year low. European markets also fell heavily as investors awaited results from JPMorgan Chase Source: FT.com - US homepage | 16 Jan 2008 | 10:37 am
U.S. stocks looked set to slide at Wednesday's start after disappointing results from Intel further fanned fears that the U.S. economy would fall into a recession.
Reuters - British sweets-to-DVDs retailer
Woolworths Plc said that trading over the key Christmas
period was "very challenging," knocking its shares, but it
expected its retail unit to return to profitability this year. Source: Yahoo! News: Business | 16 Jan 2008 | 10:15 am
Jaccqueline Mathe, unemployed and 22, has just signed up for a bank account in Nellmapius, a black township near Pretoria. All she needed was a government ID and a mobile phone. Mathe hopes to save a quarter of the monthly $28.54 government grant she receives for her toddler, Khothasto, who is riding in a sling on her back.
GENEVA (Reuters) - Prospects for a speedy settlement in the tit-for-tat transatlantic clash over aircraft subsidies appeared dim on Wednesday as a case involving Boeing Co resumed at the World Trade Organisation (WTO).
Reuters - Prospects for a speedy settlement in the
tit-for-tat transatlantic clash over aircraft subsidies
appeared dim on Wednesday as a case involving Boeing Co
resumed at the World Trade Organisation (WTO). Source: Yahoo! News: Business | 16 Jan 2008 | 9:56 am
Intel, the world's biggest chip manufacturer, saw its shares tumble more than 14pc after forecasting first quarter sales well below analysts expectations. Source: Telegraph Business | 16 Jan 2008 | 9:30 am
AFP - The International Energy Agency kept its 2008 forecast for oil demand unchanged on Wednesday despite growing expectations of a recession in the United States.
Nikkei closed 3.4 pct lower at 13,504.51, its lowest closing level since October 2005, amid fears of further fallout from the US subprime mortgage crisis, and on concern about what Wall Street might do later today.
European and Asian shares fall on continuing fears of a US recession and slowing corporate profit growth. Source: BBC News | Business | World Edition | 16 Jan 2008 | 9:18 am
Reuters - Mobile phone maker Sony Ericsson
posted better-than-expected fourth quarter earnings on
Wednesday and said it gained market share in that period and in
2007 as a whole. Source: Yahoo! News: Business | 16 Jan 2008 | 8:57 am
STOCKHOLM (Reuters) - Mobile phone maker Sony Ericsson posted better-than-expected fourth quarter earnings on Wednesday and said it gained market share in that period and in 2007 as a whole.
Reuters - Cathay Pacific Airways (0293.HK),
Hong Kong's flagship airline, will support any possible bid
made by Air China group for China Eastern (0670.HK), chief
executive Tony Tyler said on Wednesday. Source: Yahoo! News: Business | 16 Jan 2008 | 8:41 am
HONG KONG (Reuters) - Cathay Pacific Airways , Hong Kong's flagship airline, will support any possible bid made by Air China group for China Eastern , chief executive Tony Tyler said on Wednesday.
Boeing is facing further delays to the first deliveries of its 787 Dreamliner as the US aircraft maker fails to overcome problems in the assembly of the aircraft Source: FT.com - US homepage | 16 Jan 2008 | 8:40 am
LONDON (Reuters) - British sweets-to-DVDs retailer
Woolworths said trading over the key Christmas period
had been "very challenging" but it expected its retail business
to return to profitability this year.
SYDNEY (Reuters) - Rio Tinto Ltd/Plc , fighting a takeover approach from rival BHP Billiton Ltd/Plc and scurrying to capture more of the global commodities boom, churned out record tonnages of iron ore, copper and other industrial minerals in 2007.
TOKYO (Reuters) - A Japanese court found a former head of Mitsubishi Motors Corp and three other former executives guilty of negligence leading to the death of a truck driver, a court official said on Wednesday.
Stocks in Asia tumbled overnight, tracking earlier declines in the US and across Europe, as evidence mounted that the US economy is heading for recession. Source: Telegraph Business | 16 Jan 2008 | 7:45 am
One of Wall Street's most respected banking analysts slashed his profit expectations for JPMorgan Chase just hours before the banking giant is due to report fourth-quarter numbers. Source: Telegraph Business | 16 Jan 2008 | 7:20 am
Mitt Romney burst back into contention for the Republican presidential nomination with a comeback victory over John McCain in the Michigan primary Source: FT.com - US homepage | 16 Jan 2008 | 7:15 am
Apple has overhauled key elements of its online video strategy following an admission by Steve Jobs that the company's early efforts had been a disappointment Source: FT.com - US homepage | 16 Jan 2008 | 6:52 am
SAN FRANCISCO (Reuters) - Apple on Tuesday launched an aluminum-clad laptop just three-quarters of an inch thick, seeking to bring a new computer to market with the same cachet as its iPod and iPhone devices.
Entrepreneurs are considering selling firms because of uncertainty over capital gains tax, the CBI head says. Source: BBC News | Business | World Edition | 16 Jan 2008 | 6:02 am
NEW YORK (Reuters) - The Carlyle Group is in talks to buy Booz Allen Hamilton's government consulting business, a source familiar with the matter said on Tuesday.
As India's prime minister wound up his trip to China, the growing trade imbalance in favour of Beijing has proved to be one of the most contentious issues Source: FT.com - US homepage | 16 Jan 2008 | 1:44 am
Evidence that the embattled US consumer is starting to pull back on spending mounted after data revealed that retail sales fell last mont Source: FT.com - US homepage | 16 Jan 2008 | 1:35 am
AP - Mortgage lender IndyMac Bancorp Inc. said Tuesday it will slash its work force by 24 percent, laying off 2,403 employees in a bid to cut costs as it tries to weather the worsening housing slump and problems selling home loans to investors. Source: Yahoo! News: Business | 16 Jan 2008 | 1:03 am
Reuters - Intel on Tuesday posted
quarterly results and an outlook behind Wall Street targets,
sending its shares down 15 percent and stoking concerns about a
U.S. recession and further stock market sell-offs.
Oprah Winfrey announced that she is joining forces with Discovery Communications to launch a self-branded cable network Source: FT.com - US homepage | 16 Jan 2008 | 12:22 am
Woolworths has refused to reveal like-for-like sales figures for its key Christmas trading period, fearing that they could threaten to overshadow the news that the struggling retail chain is set to return to profitability. Source: Telegraph Business | 16 Jan 2008 | 12:05 am
Returns in the UK property market plunged another 3.7pc in December, the largest monthly fall for the Investment Property Databank since records began in 1986. Source: Telegraph Business | 16 Jan 2008 | 12:01 am
Citigroup, America's largest bank, is axing 4,200 jobs and slashing its dividend by 40pc after unveiling a further $22.2bn (£11.3bn) of provisions and a $9.83bn fourth-quarter loss. The company was also forced to raise $14.5bn of fresh capital to shore up its balance sheet. Source: Telegraph Business | 16 Jan 2008 | 12:01 am
Troubled investment bank Merrill Lynch is to receive $6.6bn (£3.3bn) of additional capital in a bid to shore up its balance sheet ahead of what are expected to be damaging fourth-quarter results. Source: Telegraph Business | 16 Jan 2008 | 12:01 am
President George Bush, on the second day of a visit to Saudi Arabia, raises concerns over high oil prices. Source: BBC News | Business | World Edition | 15 Jan 2008 | 11:56 pm
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AFP - The International Energy Agency kept its 2008 forecast for oil demand unchanged on Wednesday despite growing expectations of a recession in the United States.
Reuters - Intel on Tuesday posted
quarterly results and an outlook behind Wall Street targets,
sending its shares down 15 percent and stoking concerns about a
U.S. recession and further stock market sell-offs.