Business and Finance News

Stocks move up on another oil decline
Kyrgyzstan News.Net
Stocks advanced for the second straight session Wednesday with another decline in oil prices and several upbeat profit reports on Wall Street.
T. Boone Pickens warns of $300 oil
Kyrgyzstan News.Net
Billionaire oil investor T. Boone Pickens has told legislators that oil prices will hit US$300 a barrel in 10 years.
Bush raises eyebrows with stock market comment
Kyrgyzstan News.Net
US President George Bush has made an unguarded comment at a Houston fundraiser.
New fees mean turnaround for airlines
Kyrgyzstan News.Net
New travel fees have meant hundreds of millions of dollars a year for beleaguered airlines.
Italians lose confidence in economy
Kyrgyzstan News.Net
Italian consumer confidence has slumped in July to the lowest level since the 1993 recession.
Lufthansa pilots on pay strike
Kyrgyzstan News.Net
Lufthansa has been forced to cancel nearly 1,000 flights in Germany because of an unannounced strike by pilots.
Wachovia takes big hit on the market
Kyrgyzstan News.Net
US banking giant Wachovia has announced a quarterly loss of US$8.662 billion.
Small town hit by housing crisis
Kyrgyzstan News.Net
The mortgage crisis has hit the small town of Vallejo, near San Francisco.
UK chains drop fuel prices
Kyrgyzstan News.Net
A number of UK national supermarket chains and an oil company have said they will cut the price of fuel.
Will Icahn/Microsoft win the Yahoo war
Axcess News
Yahoo's board of directors have insisted the price Microsoft offered to buyout the company was too low, at first citing its forecast earnings. But after Yahoo reported a 19% drop...
Arrow Electronics profit lower, but sales improve
Newsday
Long Island 's largest company in terms of sales, said Wednesday that profits were lower in the second quarter, compared to the same period a year ago, reflecting a "cautious" economy. But sales...
Financial Stocks Lift Despite Bad Earnings
NPR
2008 · Wachovia announced multibillion-dollar losses related to the mortgage crisis Tuesday. But instead of upsetting investors, the news helped lift financial stocks and the rest of...
Costco warns on quarterly profit
San Diego Union-Tribune
NEW YORK – Costco Wholesale Corp warned Wednesday that its quarterly profit would miss current Wall Street targets because of soaring energy costs and other inflationary pressures, sending...
Oil extends slide as supplies more than expected
San Diego Union-Tribune
NEW YORK – Oil prices swayed between modest gains and declines Wednesday after dropping earlier when the government reported gasoline supplies rose far more than expected but crude inventories...
Amazon earnings double on strong sales growth
Market Watch
Amazon.com Inc. said Wednesday that earnings for the second quarter more than doubled thanks to a strong growth in sales. For the second quarter ended the...
STMicroelectronics jumps after solid 2Q results
CNBC
All Associated Press news U.S.-traded shares of STMicroelectronics NV jumped Wednesday after the Switzerland-based chip maker posted a smaller second-quarter loss and, excluding...
Microsoft Mum On
TechWeb
The Windows-compatible platform can be seen as Microsoft's counterpart Amazon's Elastic Cloud Computing service, known as EC2, and to the Google App Engine.
Anadigics down after 2Q beats but outlook misses
CNBC
All Associated Press news Shares of Anadigics Inc. sank Wednesday after the company reported better-than-expected earnings in the second quarter, but a disappointing third-quarter...
Chrysler to cut 1,000 salaried jobs by fall
MSNBC
Chrysler spokesman David Elshoff says the company hopes most of the cuts will be accomplished through early retirements, attrition and voluntary separation programs. But he says involuntary layoffs...
Wall Street got drunk, says Bush
ABC Australia
US President George W Bush has an explanation for the housing market meltdown that has thrown the global economy into turmoil: Wall Street got drunk. "There's no question about it. Wall Street got...
Philip Morris Rolls With Weakened Dollar
Smart Money
DOW JONES NEWSWIRES Philip Morris International Inc. recorded a 23% rise in second-quarter net income as the international seller of Marlboro cigarettes saw sales increase worldwide and...
UK Banks Up Sharply On Wall St Gains, Hopes Of Recovery
Morning Star
BARC.LN and Royal Bank of Scotland PLC (RBS.LN) all up at least 10%, following early gains on Wall Street, merger speculation and early hopes that the worst could be over for the financial...
A Chat With Their CTO, Barry Briggs
eWeek
... eWEEK executive editor Michael Hickins talks to Barry Briggs, Microsoft's chief technology officer, about making IT a strategic partner for the business. Briggs talks about implementing master data...

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