Business and Finance News

Mortgage bill may face presidential veto
Oklahoma City News.Net
The US House of Representatives has approved a bill designed to stem the tide of home foreclosures due to the subprime mortgage crisis.
Greenspan believes economy is stabilising
Oklahoma City News.Net
Former Federal Reserve Chairman Alan Greenspan has said he believes the worst of the credit crisis is over.
Russian steel producer buys US factory
Oklahoma City News.Net
Russia's largest steel producer Severstal has said it had finalised a deal to purchase the US-based Sparrows Point steel mill from ArcelorMittal for US$810 million.
Futures trading banned in India
Oklahoma City News.Net
The Indian government has banned futures trading in four commodities to tame inflation.
Indian minister gives bio-fuels the thumbs down
Oklahoma City News.Net
Indian Minister of State for External Affairs Anand Sharma has taken a dig at US president, George Bush, to emphasise his points on the global food crisis.
Airlines give bad online advice
Oklahoma City News.Net
EU consumer protection officials have warned consumers that they are being defrauded by some online ticket sellers.
AIG posts record loss on bad debt
BBC
AIG, the world's largest insurer, has posted its biggest ever quarterly loss due to its continuing exposure to bad US mortgage debt. Reporting its results for the first three months of 2008, AIG...
Best Buy buys Carphone Warehouse
Oklahoma City News.Net
America’s Best Buy brand will begin opening in the UK next year, to take on the European consumer electronics market with its new acquisition, Carphone Warehouse.
Hong Kong is wine lovers city
Oklahoma City News.Net
Hong Kong's trade development body expects the Asian wine market to expand by 10-20 per cent over the next five years.
IMF downgrades economic forecasts
Oklahoma City News.Net
The International Monetary Fund has adjusted its forecasts for the global economic growth in 2008 downward to below four percent.
Pandit to reveal turnaround strategy for Citigroup
Oklahoma City News.Net
Vikram Pandit, chief of the troubled Citigroup, is set to reveal his revival strategy to investors and he is expected to emphasise on the business model.
Boeing expects to be sued
Oklahoma City News.Net
Boeing is expecting a compensation claim from Qatar Airways over a delay in the delivery of its 787 Dreamliner.
US stocks rise led by oil, metal prices
Oklahoma City News.Net
Stocks rose on Wall Street Thursday pushed by commodity producers as oil and metals prices continued to rise.
Financials open slightly lower with Citigroup, AIG in focus
Market Watch
... lost more than 6% in early trading Friday after the company reported a quarterly loss of almost $8 billion on massive write-downs. Citigroup Inc.
Citigroup targeting 9 percent revenue growth
Tampa Bay Online
Citigroup Inc. said Friday it is aiming for 9 percent revenue growth as it looks to rebound from recent struggles tied to deterioration in the mortgage and credit markets.
Microsoft releases its planned Yahoo slate
Market Watch
Microsoft Corp. has released candidates it tapped to serve on an alternative slate of directors prepared in case of a hostile takeover bid for Yahoo Inc., according to...
Mylan first quarter earnings fall
Business Journal
MYL said revenue rose to $1.07 billion in the first quarter from $487.3 million a year earlier. Mylan is based in Cecil Township, south of Pittsburgh.
JSE opens firmer on miners, Wall Street
Business Report
2008 By Tiisetso Motsoeneng Johannesburg - Stocks rose in early trade on Friday, buoyed by mining counters on sustained strength in commodity prices, while an overnight gain on Wall Street...
Retail Consumers Are Fleeing to Lower Prices in Shaky Economy
RedOrbit
To lure customers, apparel chains are discounting more. First- quarter profits are slated to be down by 14.9 percent, according to Ken Perkins, president of RetailMetrics LLC, a research company in...
So, What Is
Wired News
It is not clear Microsoft can do this alone - and in fact, it's not always clear what "this" is. Some analysts say Microsoft must increase its search traffic to attract advertisers. Others believe...
Google execs hope for long-term ad deal with Yahoo
Herald Sun
Google Inc.'s top executives expressed hope Thursday that the Internet search leader will be able to form a potentially lucrative advertising partnership with Yahoo Inc. -- a deal that would lower...
A Close Look at the Colossal Squid
Wired News
Scientists at the national museum of New Zealand, Te Papa, have recently completed dissections of several enormous squids, including pieces of a colossal squid -- the largest invertebrate ever...
German Sub Caught With the Goods
Wired News
... represents far more than a feat of arms by the Royal Navy. It hands Britain the key to the secret German naval code and helps turn the tide in the Battle of the Atlantic."...

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