Global shares are mixed on the back of heavy Wall Street losses prompted by more US recession fears. Source: BBC News | Business | World Edition | 18 Jan 2008 | 11:15 am
British Gas announces that it will increase its electricity and gas prices by 15%. Source: BBC News | Business | World Edition | 18 Jan 2008 | 11:14 am
Shares in New Star plunged after the fund management group warned that profits this year will be significantly lower than in 2007 after a swathe of its funds underperformed the market. Source: Telegraph Business | 18 Jan 2008 | 11:04 am
New games and consoles helped drive US video game sales to a record last year, figures show. Source: BBC News | Business | World Edition | 18 Jan 2008 | 11:03 am
AP - With the economy's prospects growing bleaker seemingly by the day, politicians in both parties have rallied around the three Ts, the mantra that any stimulus package needs to be timely, targeted and temporary.
LOS ANGELES (Reuters) - The Hollywood directors' union reached a contract deal with major film and TV studios on Thursday in a move likely to renew momentum for settling a 10-week-old writers strike that has crippled the industry and clouded the year-end Oscar season.
WASHINGTON (Reuters) - President George W. Bush will offer ideas on Friday for shoring up the fragile U.S. economy, as he and the Democratic-led Congress move forward with talks on a plan to avert a recession.
LONDON (Reuters) - World stocks hit a five-month low on Friday, prompting safe-haven flows into government bonds as a U.S. financial rescue plan failed to erase fears that the world's largest economy might already be in recession.
MILAN (Reuters) - European banking giant UniCredit
on Friday denied a report in Italy's leading business
daily that it might be interested in buying the $47 billion
U.S. investment bank Merrill Lynch .
Reuters - European banking giant UniCredit
on Friday denied a report in Italy's leading business
daily that it might be interested in buying the $47 billion
U.S. investment bank Merrill Lynch . Source: Yahoo! News: Business | 18 Jan 2008 | 10:56 am
U.S. stocks futures rose early Friday, lifted by hopes that an economic stimulus plan being discussed in Washington would help prevent the economy from falling into recession.
On a futuristic battlefield littered with broken oil wells, burnt-out electric cars and dilapidated wind turbines, you are leading crack military unit on a mission to secure the world's last remaining oil supplies.
NEW YORK (Reuters) - Merrill Lynch & Co Inc reported about $16 billion in mortgage-related write-downs and adjustments on Thursday in the worst quarter of the company's history.
Retail sales unexpectedly fall in December as consumers rein in their Christmas spending. Source: BBC News | Business | World Edition | 18 Jan 2008 | 10:29 am
BEIJING (Reuters) - China's economic growth may ease slightly this year to 10.5 percent from the estimated 11.5 percent rate of expansion in 2007, a researcher at a state think-tank said on Friday, as the government cooling steps take effect.
Stock markets across Asia turned mixed in late trade Friday as bargain hunting set in after early declines, and with some investors pinning their hopes on a host of economic measures President Bush will unveil to prevent the US economy from slipping into a recession.
Before Howard Schultz agreed to come back to become CEO of Starbucks, the company he built from a Seattle boutique into a global mega brand, he had to get his kids' blessing. After all if Dad was going back to the grind (so to speak), he would be working 15-hour days. And while Mrs. Schultz didn't hesitate, not surprisingly the younger Schultzes needed some convincing. In the end Dad prevailed and in early January, Schultz reassumed the mantle. Since then the CEO redux has kept a low profile, but recently agreed to speak exclusively to Fortune Managing Editor Andy Serwer.
A former real estate appraiser for Washington Mutual is suing the bank, claiming she was blacklisted last year for providing a housing market forecast that was too gloomy.
SAN FRANCISCO (Reuters) - IBM on Thursday forecast 2008 earnings well ahead of Wall Street expectations as strong growth abroad made up for weaker results in the United States, sending its shares up 5 percent.
The London Stock Exchange opens an office in Beijing, as it aims to attract listings by Chinese companies. Source: BBC News | Business | World Edition | 18 Jan 2008 | 10:13 am
Zimbabwe issues new higher-denomination banknotes, including a $10m bill, to try to ease the country's cash crisis. Source: BBC News | Business | World Edition | 18 Jan 2008 | 10:10 am
Wall Street bonuses fell almost 5% in 2007, as the sub-prime crisis prompted a more frugal attitude. Source: BBC News | Business | World Edition | 18 Jan 2008 | 9:59 am
Bulgaria backs a gas pipeline deal with Russia that is set to strengthen Moscow's grip on energy to Europe. Source: BBC News | Business | World Edition | 18 Jan 2008 | 9:41 am
Reuters - World stocks hit a five-month low on
Friday, prompting safe-haven flows into government bonds as a
U.S. financial rescue plan failed to erase fears that the
world's largest economy might already be in recession.
Reuters - President George W. Bush will offer
ideas on Friday for shoring up the fragile U.S. economy, as he
and the Democratic-led Congress move forward with talks on a
plan to avert a recession.
Fund manager New Star has warned that profits this year will be significantly lower than in 2007 and slashed its dividend after a swathe of its funds underperformed the market. Source: Telegraph Business | 18 Jan 2008 | 7:48 am
NEW YORK (Reuters) -Stocks fell on Thursday, with the benchmark S&P 500 plummeting to a 15-month low, as news of a plunge in regional factory activity and a hefty loss at Merrill Lynch further clouded an increasingly dire view of the economy.
Nearly one pound in every seven spent on consumer goods in 2007 was spent over the internet, a jump of more than 50pc since 2006, new figures reveal. Source: Telegraph Business | 18 Jan 2008 | 2:01 am
Reuters - IBM on Thursday forecast
2008 earnings well ahead of Wall Street expectations as strong
growth abroad made up for weaker results in the United States,
sending its shares up 5 percent.
Reuters - Transatlantic exchange NYSE Euronext
said on Thursday it agreed to acquire the
American Stock Exchange (Amex) for $260 million in stock to
boost its options business, exchange traded funds (ETFs) and
cash products.
The London Stock Exchange has hired the finance director of defence company QinetiQ to replace Jonathan Howell who is leaving to join stockbroker Close Brothers. Source: Telegraph Business | 18 Jan 2008 | 12:01 am
SABMiller, the UK-listed brewing giant, has become the latest consumer company to be hit by weakness in the global economy as it reported a slowdown in lager sales. Source: Telegraph Business | 18 Jan 2008 | 12:01 am
One of the City's leading investment banks has urged investors to sell shares in Kaupthing, amid growing fears about the strength of the Icelandic banking sector. Source: Telegraph Business | 18 Jan 2008 | 12:01 am
Hollywood studios reached a tentative labour agreement with the Directors Guild of America, a development that they hope will build momentum to restart talks with striking writers and actors Source: FT.com - US homepage | 18 Jan 2008 | 12:01 am
Merrill Lynch reported the worst quarter since it was founded nearly 100 years ago, saying it lost $9.8bn in the last three months of 2007 following $14.6bn in investment writedowns Source: FT.com - US homepage | 17 Jan 2008 | 11:58 pm
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AP - With the economy's prospects growing bleaker seemingly by the day, politicians in both parties have rallied around the three Ts, the mantra that any stimulus package needs to be timely, targeted and temporary.
Reuters - World stocks hit a five-month low on
Friday, prompting safe-haven flows into government bonds as a
U.S. financial rescue plan failed to erase fears that the
world's largest economy might already be in recession.
Reuters - President George W. Bush will offer
ideas on Friday for shoring up the fragile U.S. economy, as he
and the Democratic-led Congress move forward with talks on a
plan to avert a recession.
Reuters - IBM on Thursday forecast
2008 earnings well ahead of Wall Street expectations as strong
growth abroad made up for weaker results in the United States,
sending its shares up 5 percent.
Reuters - Transatlantic exchange NYSE Euronext
said on Thursday it agreed to acquire the
American Stock Exchange (Amex) for $260 million in stock to
boost its options business, exchange traded funds (ETFs) and
cash products.