JEDDAH, Saudi Arabia (Reuters) - World energy powers embarked on a new level of dialogue to rein in runaway oil prices at an emergency meeting in this Red Sea city, but were unlikely to come up with a quick fix.
Israeli stocks fall, reflecting a drop in Israel Chemicals and a hard hit to the technology index as BluePhoenix Solutions sheds nearly half its value after issuing a profit warning.
Calls for top oil producers to raise output to bring down soaring prices intensify at a key meeting in Saudi Arabia. Source: BBC News | Business | World Edition | 22 Jun 2008 | 2:05 pm
Saudi Arabia's decision to pump more oil than it has in nearly 30 years risks being completely negated by the sharp drop in output caused by attacks on production facilities in Nigeria Source: FT.com - US homepage | 22 Jun 2008 | 2:05 pm
Reuters - World energy powers
embarked on a new level of dialogue to rein in runaway oil
prices at an emergency meeting in this Red Sea city, but were
unlikely to come up with a quick fix.
Rick Moyer gazes at the sun-charred bottom of the pond next to his 600-acre catfish farm and shakes his head _ another farmer scrambling to stay solvent has drained the pond and will till... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 1:51 pm
Saudi Arabia will in the near future increase its daily oil production to 9.7 million barrels from 9 million to counter the sharp rise in international oil prices, Saudi King Abdullah said Sunday.
Zimbabwe's opposition leader Morgan Tsvangirai has withdrawn from a run-off election against Robert Mugabe, handing the authoritarian president another term in office. Source: FT.com - US homepage | 22 Jun 2008 | 1:36 pm
Iraq will award contracts to 41 foreign oil firms in a bid to boost production that could give multinationals a potentially lucrative foothold in huge but underdeveloped oil fields, an... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 1:17 pm
The three men, claiming to have been rescued from financial ruin by divine intervention, went to homes and churches across North and South Carolina spreading tales of financial rescue. With Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 1:17 pm
U.S. stocks on Monday will attempt to recover from some hefty losses, but any comeback will likely be contingent on three factors: the price of crude oil, any hints of inflation, and developments in the troubled financial sector.
The US Federal Bureau of Investigation has made a formal request to travel to Switzerland to probe a multi-million-dollar tax evasion case involving top Swiss bank UBS, a news report said... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 12:52 pm
This week, Fortune Small Business released our annual FSB 100 report on the fastest-growing small public companies. The list includes familiar names like hot-dog legend Nathan's Famous and as well as under-the-radar companies like Astronics, an aeronautical lighting systems maker that snagged this year's No. 1 spot. Stop by our Web site and check out the top 5 FSB 100 stock picks, advice from the fastest-growing small companies, and video reports on several of this year's top companies. -Stacy Cowley Web Editor Fortune Small Business
The news coming out of Detroit is getting worse, and unlike in past years, there will be no full recovery. Analysts are betting that General Motors will be forced to take emergency financial measures this year that could hamper its competitiveness for a long time to come.
Both oil-producing nations and consumers now agree that petroleum is too costly and that the high prices are doing serious economic damage, U.K. Prime Minister Gordon Brown said during a meeting of energy-policy makers in Jeddah, Saudi Arabia, Reuters reported.
Even with the news that the FCC is almost certain to approve the Sirius (SIRI) merger with XM Satellite (XMSR), shares in the company hit a 52-week low of $1.97. The stock is off about half from its 52-week high. The company's market cap is down to $3 billion. With only $252 million in cash and liabilities of $2.3 billion which includes $1.2 billion in long-term debt, Sirius is approaching being insolvent. If its revenue growth continues to drop, its chances of funding quarterly deficits may go away. Last quarter, debt service added to operating loss was $105 million. That...
LONDON (Reuters) - U.S. oil services firm Halliburton said it has ended talks to buy UK rival Expro after its target refused to open an auction and opted for a 1.8 billion pound ($3.5... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 11:04 am
LONDON (Reuters) - U.S. oil services firm Halliburton said it has ended talks to buy UK rival Expro after its target refused to open an auction and opted for a 1.8 billion pound ($3.5 billion) rival bid.
General Electric Co. shares fell to a five-year low last week, and few analysts have positive views on the industrial and financial-services giant these days, The New York Times reported on Sunday.
The chancellor says pay rises from "the boardroom to the shopfloor" must be "consistent" with the 2% inflation target. Source: BBC News | Business | World Edition | 22 Jun 2008 | 10:08 am
Activists say the government must act after UK High Street clothing firm Primark fires three Indian suppliers because they used child labour to finish goods. Source: BBC News | Business | World Edition | 22 Jun 2008 | 10:04 am
Indicted former Bear Stearns hedge-fund manager Ralph Cioffi has used his homes in New Jersey and Naples, Fla. to secure a $4 million bond, but did not use his toniest address in Southampton to gain his... Source: Infocious RSS raw feed - channel BNPaperBusiness | 22 Jun 2008 | 9:24 am
The majority of Japan's top executives have said an expanding phase of the nation's economy has already been over, a poll showed on Sunday. The Asahi Shimbun daily carried... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 8:01 am
After three years as CEO of Paramount Pictures, Brad Grey finds himself right back where he started: facing a host of issues that will put his managerial and survival skills to the test. It was only a... Source: Infocious RSS raw feed - channel BNPaperBusiness | 22 Jun 2008 | 6:57 am
With inflation shooting to a dizzying 13-year high, Indians are wondering whether they're watching a rerun of an old horror movie they'd rather not see again. On Friday,... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 6:05 am
CHICAGO, June 22 /PRNewswire/ -- Bob Meyers, Worldwide CEO of Research International (RI), the world leading marketing and innovation research agency, recently announced... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 6:00 am
Air Berlin's spreading wings have been clipped badly by soaring fuel prices and a series of austerity measures may not suffice to keep the German low-cost carrier in the air, analysts say. Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 4:11 am
U.S. consumers got a timely hand up from their Uncle Sam in May, with nearly $50 billion in tax rebate checks boosting personal incomes as high gas prices and falling home prices squeezed their pocketbooks.
Police and protesters clashed at an anti-US beef rally here early on Sunday as Seoul's announcement on extra health safeguards failed to immediately calm South Koreans' fears over mad cow... Source: Infocious RSS raw feed - channel BNewsBusiness | 22 Jun 2008 | 3:54 am
TOKYO (Reuters) - Years ago, when the first Armani boutiques opened in China, a furious customer walked into one of the shops, brandishing two Armani T-shirts.
ABUJA (Reuters) - Armed youths blew up a Nigerian crude oil pipeline operated by U.S. major Chevron, a militant group said on Saturday, cutting more output from the world's eighth largest oil exporter.
While Congress has talked for a year about a federal response to the foreclosure crisis, attorneys general have been busy helping troubled homeowners at the state level.
Reuters - Years ago, when the first Armani
boutiques opened in China, a furious customer walked into one
of the shops, brandishing two Armani T-shirts.
Gordon Brown will hold crisis talks in Jeddah today with the US energy secretary, Sam Bodman, as political leaders gather to tackle the soaring price of oil. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Mikhail Fridman strode onto the stage, eager to tell the waiting journalists how he and his company had been wronged. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Tesco has been accused of using underhand tactics after it used a local retailer to "front" a planning application for a massive supermarket development. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Britain's bingo operators have attacked the Government for repeatedly delaying a statement on potential help for the industry despite the rising toll of club closures. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Angus Monro, the former Matalan and Marks & Spencer executive, is enlisting the support of Permira, one of Europe's biggest private equity firms, to target some of Britain's struggling high street retailers. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Jamie Cooper-Hohn and her husband are giving almost £500m to charity. Here she talks to Louise Armitstead about their motivation Source: Telegraph Business | 22 Jun 2008 | 12:01 am
UK beer sales have fallen through the five billion litre mark for the first time since 1975 as the consumer downturn and smoking ban continue to hit Britain's pubs and brewers Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Synesis Life, the pensions buyout specialist is poised to lose at least one of its financial backers. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
Sir Richard Branson's Virgin Active has made an offer to buy parts of Esporta, the beleaguered fitness club chain up for sale. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
At the start of last week, I thought that the US Federal Reserve was starting to get to grips with the gravity of the current situation. I allowed myself to believe that the world's most important central bank had decided to bite the bullet and address the serious inflationary dangers we face. But I was wrong. Source: Telegraph Business | 22 Jun 2008 | 12:01 am
NEW YORK (Reuters) - Andrew D. Busch, a nonemployee member of Anheuser-Busch Cos Inc's founding Busch family, said on Saturday that he supports the U.S. brewer's efforts to remain "a strong company headquartered in St. Louis."
Reuters - Andrew D. Busch, a nonemployee member
of Anheuser-Busch Cos Inc's founding Busch family, said
on Saturday that he supports the U.S. brewer's efforts to
remain "a strong company headquartered in St. Louis."
GREGORY KING, the Gibraltar-based financier, has made an informal approach to
buy a majority stake in the crisis-stricken sub-prime lender London Scottish
Bank. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
CHINA’S secretive sovereign wealth funds will help its state-owned companies
to expand overseas in a shift of strategy after economic talks with America,
according to analysts in Shanghai. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
A KREMLIN investigation into BP’s Russian joint venture was prompted by a letter from one of the four oligarchs who own half of the business, The Sunday Times can reveal. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
LLOYDS TSB has made a tentative approach to buy Germany’s Dresdner Bank, which
has been put up for auction by its parent company, the insurance giant
Allianz. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
LLOYDS TSB has made a tentative approach to buy Germany’s Dresdner Bank, which
has been put up for auction by its parent company, the insurance giant
Allianz. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
EVERY YEAR, thousands of people from around the world descend on an American
city to spend the weekend discussing everything from bubble wrap to
counterfeit goods and the Russian mafia at eBay Live, the online auction
giant’s annual jamboree. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
DEBENHAMS has extended its payment terms to suppliers to 96 days amid claims that trading conditions are “deteriorating”. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
ITV wants to slash £150m from its budget for public service broadcasting such
as news, regional and children’s programmes by 2012, when the analogue
television signal will be switched off. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
A SENIOR member of the Qatari royal family has thrown Barclays’ fundraising
efforts into jeopardy after raising legal claims against the bank over an
alleged €50m (£40m) fraud. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
IN the tranquil surroundings of Home Farm in Gloucestershire, Andrew Baker maps out the future of Duchy Originals and Britain’s organic-food industry. Source: Latest Business News from Times Online | 21 Jun 2008 | 11:00 pm
To spend time in public with Suze Orman is to see how famished Americans are for financial advice they trust - and how much they trust Suze. In the 150-foot walk from Money's offices to the elevator, Orman leaves a wake of FedEx couriers, passers-by and office workers thanking her for helping them right their money lives. "You'd have thought Bono was here," marvels one editor.
Farmers in Argentina lift most of the roadblocks they set up during a three-month row with the government. Source: BBC News | Business | World Edition | 21 Jun 2008 | 9:40 pm
Some attendees of this weekend’s summit of oil producers and consumers in Saudi Arabia are calling for stricter regulation of financial speculators to curb skyrocketing oil prices, according to a news report.
U.S. stocks on Monday will attempt to recover from some hefty losses, but any comeback will likely be contingent on three factors: the price of crude oil, any hints of inflation, and developments in the troubled financial sector.
"People are going to lowball the owner on price even if they do get a buyer." They might not be able to trade in their gas guzzler and may have to dispose of it through Trade Me or car fairs, he says.
Phil Pelling, of Honda Cars... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Charges have been laid against two Bridgecorp directors for allegedly taking millions of investors' dollars when the finance company had already collapsed.
Rod Petricevic and Rob Roest are facing charges laid in the Auckland District... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Domestic and international economies have taken a hit that will last at least two years and businesses that haven't taken steps to ensure their future success will be vulnerable, say experts.
Consolidation - driven by a shortage... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
The clean, green image of New Zealand is being tarnished by environmentally unfriendly practices of its businesses, according to an international survey.
The survey of 2300 human resources managers in 17 countries found that only... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Air New Zealand chairman John Palmer has begun briefing senior politicians on an Australian request for the national flag carrier to reapply for contracts to ferry Aussie troops overseas.
The airline's military charter-ferrying... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
More finance companies are likely go under. I do not know which particular ones are most at risk, but I believe this sector is so poor there is not a finance company that I would recommend to a client or invest in myself.
I concede... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
The owner of a Waiheke Island vineyard that went into receivership owing $5 million blames "bureaucrats" for his plight.
Ridgeview Estate's Denis Musson asked for his Rocky Bay restaurant, vineyard and winery to be placed in receivership... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Blue Chip boss Mark Bryers got the unlucky lot number 13 at auction yesterday when his Mercedes Benz failed to sell.
The 2006 model was among 19 prestige cars under the hammer, and
boasts a "full entertainment system, infrared... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Blue Chip founder Mark Bryers is on a luxury tour of Scottish golf courses, including the sport's spiritual home, St Andrews. Well-placed sources told the Herald on Sunday he was part of a group celebrating the 60th birthday of his... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Homeowners who are struggling to sell their properties in this saturated market have a new tool to attract the diminished buyer pool.
Stephen Hart, author of home-buying guide Where to Live in Auckland , has launched the Value... Source: New Zealand Herald - Business | 21 Jun 2008 | 5:00 pm
Reuters - British bank Lloyds TSB would
consider a significant acquisition and is looking at a possible
deal in Germany, people familiar with the situation said on
Saturday.
LONDON (Reuters) - British bank Lloyds TSB would consider a significant acquisition and is looking at a possible deal in Germany, people familiar with the situation said on Saturday.
Tanker drivers delivering fuel for Shell, whose strike disrupted UK supplies, formally accept a 14% pay increase over two years. Source: BBC News | Business | World Edition | 21 Jun 2008 | 3:58 pm
FRANKFURT (Reuters) - European defense and aerospace group EADS won support for its $35 billion deal to supply refueling tankers to the U.S. Air Force from rival Lockheed Martin , which hopes to sell more of its products abroad.
Reuters - World energy powers
embarked on a new level of dialogue to rein in runaway oil
prices at an emergency meeting in this Red Sea city, but were
unlikely to come up with a quick fix.
Reuters - Years ago, when the first Armani
boutiques opened in China, a furious customer walked into one
of the shops, brandishing two Armani T-shirts.
Reuters - Andrew D. Busch, a nonemployee member
of Anheuser-Busch Cos Inc's founding Busch family, said
on Saturday that he supports the U.S. brewer's efforts to
remain "a strong company headquartered in St. Louis."
Reuters - British bank Lloyds TSB would
consider a significant acquisition and is looking at a possible
deal in Germany, people familiar with the situation said on
Saturday.