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- Fri, 16 May 2008 02:02:00 GMT
Woman indicted in Missouri MySpace suicide case
A Missouri woman was indicted Thursday for her alleged role in perpetrating a hoax on the online social network MySpace against a 13-year-old neighbor who committed suicide. Lori Drew of suburban St. Louis, who allegedly helped create a MySpace account More...
Business Week - Fri, 16 May 2008 02:02:00 GMT
Icahn Proposes Dissident Slate of Yahoo Directors
SAN FRANCISCO - Yahoos chairman, Roy Bostock, rejected late Thursday accusations from the billionaire investor that the companys board had acted irrationally in turning down a $47.5 billion takeover offer from Microsoft and repeated that Yahoo remained More...
New York Times - Fri, 16 May 2008 01:35:00 GMT
Berkshire eliminates stake in Ameriprise
Billionaire investor Warren Buffett's Berkshire Hathaway Inc. reported Thursday that it eliminated its stake in Ameriprise Financial Inc. and is cutting its stake in Iron Mountain Inc., while raising its stakes in Kraft Foods Inc. and Burlington Northern More...
Business Week - Fri, 16 May 2008 01:14:00 GMT
Investigator Guilty in Hollywood Wiretapping Case
LOS ANGELES ? Anthony Pellicano, the ripped-from-a-pulp-novel private eye who made himself an indispensable fixer for Hollywood stars and moguls, was found guilty in federal court Thursday of racketeering, wiretapping and other charges. The jury of More...
New York Times - Fri, 16 May 2008 00:50:00 GMT
Varley banks on a better future
John Varley has made a big contrarian bet on the future of banking. As rivals raise capital to repair balance sheets and prepare for a difficult economy, the Barclays chief executive insists things are not as bad as they seem.On Thursday, Barclays said More...
Financial Times - Fri, 16 May 2008 00:43:00 GMT
Wal-Mart reacts to Tesco threat
Wal-Mart says it will be pursuing a 'passion for fresh and delicious food' and 'the highest level of customer service' in small neighbourhood grocery stores - its first new format for a decade. The world's largest retailer - best-known for sprawling More...
Financial Times - Fri, 16 May 2008 00:43:00 GMT
Ethanol For Everyone!
Despite a pledge to veto what he has described as a 'bloated' Farm Bill, President Bush might want to hold that threat for a moment. The legislation, now en route to the White House for his signature, protects one of his favorite industries: ethanol. The More...
Forbes.com - Thu, 15 May 2008 23:21:00 GMT
Pellicano Guilty in Hollywood Wiretapping Case
The Hollywood private investigator, Anthony Pellicano was found guilty Thursday in federal court in Los Angeles of using wiretaps and other illegal tactics to gather information for rich and famous clients involved in divorces or legal disputes. Mr. More...
New York Times - Thu, 15 May 2008 22:44:00 GMT
Bernanke presses US banks on capital raising
Ben Bernanke, chairman of the Federal Reserve, on Thursday urged US banks to continue raising capital, saying this could pave the way for an improvement in economic conditions.At a conference organised by the Chicago Fed, Mr Bernanke said he had been More...
Financial Times - Thu, 15 May 2008 20:38:00 GMT
Bare-knuckle fight begins for Yahoo
A week ago, Jerry Yang was trying to sound buoyant about the prospects for an independent Yahoo and insisting that he was in it for the long haul.'This is not something I got into lightly last year,' he told the Financial Times, referring to his More...
Financial Times - Thu, 15 May 2008 20:37:00 GMT
Rates on 30-year mortgages fall
Rates on 30-year mortgages edged down this week to their lowest point in a month, a spot of welcome news to would-be home buyers. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.01 percent for the week More...
Business Week - Thu, 15 May 2008 18:47:00 GMT
BT seeking increased landline use charges
BT signalled its determination to charge rivals more money for renting its landlines for the supply of phone and broadband services, as it reported annual results in line with expectations.Ian Livingston, incoming chief executive of the UK's leading More...
Financial Times - Thu, 15 May 2008 18:15:00 GMT
Fannie, Freddie dip on prospect of more oversight
Shares of Fannie Mae and Freddie Mac declined Thursday morning as Senate lawmakers neared a deal likely to give the government enhanced powers over the two mortgage finance companies. Democrats need Republican support to move housing legislation through More...
Business Week - Thu, 15 May 2008 18:08:00 GMT
Mothers victory gives 6m right to flexitime
The mother of a disabled boy won a crucial legal victory yesterday that could lead to new rights to flexible working for Britains six million carers. Sharon Coleman, 41, says that she was forced to resign from her job as a legal secretary, working at a More...
The Times - Thu, 15 May 2008 15:52:00 GMT
Reversing trend, cable modems win over DSL
Cable companies attracted more Internet subscribers than phone companies did in the first quarter, reversing a 3 1/2-year trend, according to a research report Thursday. The 19 largest cable companies in the U.S. added 1.19 million broadband subscribers More...
Business Week - Thu, 15 May 2008 15:42:00 GMT
J.C. Penney profit falls 50%
PLANO, Texas (AP) -- Department store retailer J.C. Penney says a pullback in consumer spending has cut its first-quarter profit in half, and predicts 'difficult' conditions for the entire year. Plano, Texas-based J.C. Penney Co. (JCP, Fortune 500) says More...
CNN Money - Thu, 15 May 2008 12:44:00 GMT
The year of the vulture
(Fortune Magazine) -- On a spring day at the Ritz-Carlton hotel in Key Biscayne, Fla., Michael Klein, Citigroup's chairman of institutional clients, took the stage at the bank's ninth annual private equity conference. In front of pension fund investors, More...
CNN Money - Thu, 15 May 2008 11:37:00 GMT
Crosswell leads Nasdaq OMX's European push
Nasdaq OMX has rehired Charlotte Crosswell, the former head of its international listings business, as president of the Nasdaq OMX pan-European market, a platform being launched this year to link multiple trading pools across Europe. Ms Crosswell, who More...
Financial Times - Thu, 15 May 2008 08:22:00 GMT
Credit Agricole plans cash call
Credit Agricole is France's biggest retail bankCredit Agricole has reported a big fall in three month profits and confirmed that it is to raise 5.9bn euros ($9.1bn; 4.7bn) from its shareholders. Net profit for the first three months of the year came in More...
BBC - Thu, 15 May 2008 06:29:00 GMT
Oil prices drop below $124 a barrel
Oil prices dropped below $124 a barrel Thursday in Asia after the U.S. government issued a mixed report on the country's petroleum reserves. The Energy Department said diesel stockpiles there rose last week, and news of the build eased concerns about the More...
Business Week - Thu, 15 May 2008 05:47:00 GMT
Merrill Tries to Temper the Pollyannas in Its Ranks
Sometimes Wall Street seems a bit like the make-believe Lake Wobegon: Most stocks are above average, and it is always a good time to buy. At least that is the impression you might get from stock analysts who recommend where you should put your money. More...
New York Times - Thu, 15 May 2008 04:14:00 GMT
Collateral Foreclosure Damage for Condo Owners
Extract not available. More...
New York Times - Thu, 15 May 2008 04:14:00 GMT
Collateral Foreclosure Damage for Condos
Barbara Sanz has never missed a mortgage payment, but the plunge in real estate is punishing condominium owners like her anyway. Four years ago, she bought her first condo in a glassy new Miami tower when the building was filling up. Now nearly one in More...
New York Times - Thu, 15 May 2008 03:26:00 GMT
Clear Channel deal puts banks on defensive
Banks will be less willing to finance leveraged buy-outs as a consequence of a revised deal struck by Bain Capital and Thomas H Lee to buy Clear Channel Communications, bankers and private equity executives said on Wednesday.Under the new terms, Clear More...
Financial Times - Thu, 15 May 2008 01:27:00 GMT
Tilton to groom US Airways chief if deal goes ahead
United Airlines' chief executive Glenn Tilton has offered to make US Airways' Doug Parker a top contender to succeed him should the two carriers agree to merge, people familiar with the matter said.While talks between the companies on a potential tie-up More...
Financial Times - Thu, 15 May 2008 01:27:00 GMT
Phones 4U faces Ofcom investigation
Phones 4U, one of Britain's biggest high street mobile phone retailers, is facing investigation for alleged phone misselling.Ofcom, the telecoms regulator, said it had received 'significantly high' numbers of complaints from the public about hidden More...
Financial Times - Thu, 15 May 2008 00:39:00 GMT
Condo Life: Foreclosures, Higher Fees and Yardwork
Peter Zalewski, a broker for Condo Vultures Realty in Miami, led an Italian investor, Alessandro Comoglio, through a dimly lit hallway to an apartment for sale recently. The lights are turned down to save on electricity costs, as owners forced out by More...
New York Times - Thu, 15 May 2008 00:24:00 GMT
G.E. Looks to Sell Appliances Unit
General Electric is planning to sell its appliances division, one of the longest-running businesses in the conglomerate?s 120-year history, a person briefed on the matter said Wednesday. A sale of the unit could fetch at least $5 billion, this person More...
New York Times - Wed, 14 May 2008 23:16:00 GMT
Condo Life: Foreclosures, Higher Fees and Mowing the Lawn
Peter Zalewski, a broker for Condo Vultures Realty in Miami, led an Italian investor, Alessandro Comoglio, through a dimly lit hallway to an apartment for sale recently. The lights are turned down to save on electricity costs, as owners forced out by More...
New York Times - Wed, 14 May 2008 22:05:00 GMT
Delta pilots approve contract revisions
By HARRY R. WEBER Delta Air Lines Inc. pilots voted overwhelmingly in favor of changes to their contract that will give them pay raises, an equity stake and other benefits, but also will give management more leeway as part of a proposed combination with More...
Business Week - Wed, 14 May 2008 22:03:00 GMT
