RSS FeedsA bitter 80-day United Auto Workers strike against an auto parts maker that has crippled dozens of General Motors Corp. factories could be coming to an end soon with a tentative contract agreement reached Friday.
|
Wall Street headed for a modestly higher open Friday as investors watched oil prices hit a new record high and awaited data on new home construction last month. >>
Federal health authorities are directing a Pasadena, Texas, company to shut down and recall all its dried smoked catfish steaks and other smoked seafood produced since June 2007 because it failed to develop safety standards, leading to a risk of bacteria contamination in its products. There have been no reported illnesses, according to Food and Drug Administration spokeswoman Stephanie Kwisnek. >>
British Airways said Friday it will pay a dividend for the first time in seven years after reporting its full-year profits more than doubled. >>
A striking United Auto Workers local at a key General Motors Corp. factory ratified a new contract with the company Friday afternoon and will resume production on Monday. >>
Construction of new homes increased by the biggest percentage in more than two years in April, a rare spot of good news amid the worst downturn in housing in more than two decades. >>
Wall Street capped a week of big gains with modest moves Friday as investors grappled with surging energy prices that overshadowed news of a surprise increase in home construction. >>
NEW HAVEN, Conn. -- General Electric Co. plans to sell or spin off the business that for a century has put appliances in American homes, a decision that could presage further asset sales, analysts said. >>
FAO Schwarz will open toy stores in nearly 700 Macy's department stores over the next two years in a move that both stores hope will drive traffic in a tough economic environment. >>
Teen retailer Abercrombie & Fitch Co. said Friday that its first-quarter earnings rose 3 percent from a year ago on stronger sales. >>
Fannie Mae is doing away with higher minimum down-payment requirements for borrowers in parts of the country where home prices are dropping. >>
A top U.S. trade official said Friday that American beef is safe and rejected calls to re-negotiate an accord allowing it to resume beef exports to South Korea. >>
Japan's economy grew at a stronger-than-expected 3.3 percent annual pace in the first quarter, racking up its third consecutive quarter of growth. >>
The Canadian Auto Workers union tentatively agreed Thursday to labor deals with General Motors Corp. and Chrysler LLC that would replace contracts expiring in September. >>
J.C. Penney reported first-quarter profits were halved and on Thursday predicted "difficult" conditions for the entire year as consumers pull back on spending. >>
The Canadian Autoworkers and General Motors tentatively agreed to a new labor contract on Thursday. >>
Commercial banks and other financial institutions need to beef up their ability to detect and protect themselves against risks like the credit and mortgage debacles, Federal Reserve Chairman Ben Bernanke said Thursday. >>
Mizuho Financial Group Inc., Japan's second biggest banking group, reported Thursday a 50 percent drop in profit for the fiscal year, taking a beating from U.S. subprime credit problems. >>
Lockheed Martin Corp. beat out Boeing Co. to win an Air Force contract worth up to $3.57 billion to build as many as 12 next-generation global positioning satellites, the Pentagon said Thursday. >>
The Bush administration has declined to cite China for manipulating its currency to gain unfair trade advantages against the United States. >>
Toyota's Prius started out a decade ago as a risky experiment in green technology. Today, it's the world's first mass-produced gas-electric hybrid vehicle to hit the one million mark in sales. >>
A federal judge has ruled that a shareholder lawsuit against Countrywide Financial Corp. executives and directors should go to trial, rejecting several arguments by the troubled mortgage lender to dismiss the case. >>
United Airlines and Continental Airlines Inc. are talking about forming an alliance to gain some benefits of working together without going through a merger, which Continental rejected last month, a person close to the talks said Wednesday. >>
Barclays PLC reported a $1.94 billion write-down in the first quarter Thursday, but bucked a trend in the banking sector and did not announce a capital increase to shore up its balance sheet. >>
TD Ameritrade Holding on Thursday said its chief operating officer, Fred Tomczyk, will become chief executive in October, replacing Joe Moglia. >>
Credit Agricole said Thursday it plans to sell $7.72 billion worth of assets and named a new leader at its investment bank. The French bank, shaken by the global credit crisis, will also seek $9.1 billion in new capital. >>
A horse by any other name simply wouldn't have worked for UPS. >>
General Electric Co. plans to auction off its Louisville, Ky.-based appliances business, The Wall Street Journal reported Wednesday. >>
NEC Corp.'s profit for the fiscal year through March more than doubled from the previous year as the Japanese electronics maker's mobile phone and computer-chip businesses swung to profit. >>
HARTFORD, Conn. -- Maverick oilman T. Boone Pickens' plan for a mammoth wind farm in the Texas Panhandle is a $2 billion bet that Congress will extend a tax credit critical to the environmentally friendly industry. >>
Luxury retailer Nordstrom Inc. said Thursday its profit fell 24 percent in the first quarter, as recession rumblings in the U.S. crimped even wealthier consumers' shopping habits. >>
Commerce Secretary Carlos Gutierrez warned Thursday that rising economic nationalism in both China and the United States threatens to jeopardize beneficial ties. >>
Blockbuster Inc. said Thursday it swung to a first-quarter profit on lower expenses and improved domestic sales, bolstering the movie rental company chairman's belief that a turnaround plan is working. >>
The global market for cancer drugs will grow twice as fast as that for all other pharmaceuticals as the developing world spends more on health care, a new report says. >>
The lawyers aren't clearing their calendars just yet, but the oil industry is bracing for some courtroom battles to maintain its stake in Alaska's oil-rich fields now that the Interior Department has listed polar bears as a threatened species. >>
Caught in the maelstrom of higher gas and food prices, Americans -- even more affluent ones -- are seeking shelter in wholesale clubs and discount apparel chains. >>
The national average price for regular gasoline rose about 15 cents in the last two weeks, according to a survey. >>
While the Federal Reserve's aggressive drive to lower interest rates appears to be over, there could be benefits for consumers in other places -- like some relief from soaring gasoline and food costs. >>
More change is in store at eBay, its CEO said after the online auction company reported its profit climbed 22 percent in the first quarter despite anger from its sellers over fee and feedback adjustments. >>
The Institute for Supply Management said Thursday that the nation's service sector -- which includes retailers, the hotel business, insurance and various social services -- contracted in March, but not as much as the month before. Still, worries deepened about soaring prices for raw materials. >>
Former Enron Corp. CEO Jeffrey Skilling, convicted for his role in the once might energy giant's collapse, took risks when he ran the company but they were always for its benefit, his attorney told an appeals court Wednesday. >>
Hobbled by the housing slump and a loss of market share, The Home Depot Inc. posted its first ever annual sales decline Tuesday and released a 2008 outlook that is more gloomy than that of its chief rival, Lowe's. >>
Lowe's Cos. reported Monday that fourth-quarter profit dropped by a third. But its shares rose after the nation's second-biggest home improvement retailer predicted that sales -- while still hurt by a soft housing market -- would improve slightly in 2008. >>
Politicians have finally found an issue they all can agree on: Telemarketers calling at dinnertime are a scourge that must be repulsed. Congress on Wednesday sent to President Bush two bills that would make permanent a program to protect consumers from unwanted phone calls from telemarketers. Its hallmark is the national "do not call" list. >>
SLEEPWORKING: Some might consider it their worst nightmare: Completing work-related tasks in their dreams, a phenomenon that's been dubbed "sleepworking." >>
Federal Reserve Chairman Ben Bernanke pledged Thursday to slash interest rates as needed to prevent housing and credit problems from plunging the country into a recession. >>
Following a lukewarm shopping weekend, the nation's stores are now focusing their attention on the final week leading to Christmas, as consumers seem to be postponing more of their buying to the last minute compared to a year ago. >>
Iranian President Mahmoud Ahmadinejad said Sunday that OPEC's members have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a "worthless piece of paper." >>
Alan Greenspan said the odds of a recession have grown since earlier this year, even though "the economy is not doing badly at this stage." >>
Key dates in the European Union's antitrust proceedings against Microsoft Corp.: >>
The number of homeowners receiving foreclosure notices hit a record high in the spring, driven up by problems with subprime mortgages. >>
A look at some of the high-profile corporate fraud scandals targeted by a government task force created in 2002: >>
Wal-Mart Stores Inc. dethroned Exxon Mobil Corp. to win back first place on the 2007 Fortune 500 list after a confluence of economic forces led American companies to their most profitable year in the compilation's 53-year history. >>
Delta Air Lines Inc. expects to emerge from bankruptcy protection April 30 with an eye on improving customer service and selling more assets to build shareholder value, it said Tuesday, raising the possibility it could shed feeder carrier Comair. >>
What could a Chinese dumpling maker and Mexican telecom mogul possibly have in common? They're among a record number of wealthy people who held the title of billionaire over the past year. The tally of billionaires around the globe reached a high of 946, their combined wealth growing 35 percent to $3.5 trillion, according to Forbes magazine's 2007 rankings of the world's richest people. >>
Wall Street extended its losses Monday as investors awaited a stream of key economic data this week and were left disappointed by the collapse of several closely-watched acquisition deals. >>
A federal appeals court ruled Tuesday that Wal-Mart Stores Inc., the world's largest private employer, must face a class-action lawsuit alleging as many as 1.5 million former and current female employees were discriminated against in pay and promotions. >>
A federal appeals court on Friday cut in half a $5 billion jury award for punitive damages against Exxon Mobil Corp. in the 1989 Valdez oil spill that smeared black goo across roughly 1,500 miles of Alaskan coastline. >>
The redesigned Toyota Camry, the hottest-selling car in America, is the winner of Motor Trend Magazine's 2007 Car of the Year award. >>
Former Enron Corp. financial whiz Andrew Fastow will serve six years in a federal prison in Louisiana for plundering the company while concealing its feeble financial condition from investors. >>
A chronology of Enron Corp. and criminal cases emerging from its collapse: >>
2003 >>
Burger King's chairman and chief executive resigned Friday after starting a turnaround at the No. 2 hamburger restaurant chain, but his departure raised questions about the company's impending initial public offering and its continued revolving door for leaders. >>
Procter & Gamble Co., outlining its plan to sustain growth since it bought razor-maker Gillette Co., will focus on combining the strong points of both companies, especially in developing markets where P&G sees opportunity for growth and Gillette also has had success, executives said on Thursday. >>
Veal plant workers and government inspectors misunderstood new trade rules when they shipped prohibited veal to Japan, the Bush administration conceded Friday in a report aimed at lifting a suspension on American beef. >>
Wal-Mart Stores Inc. will start holding its suppliers more accountable for environmental and social standards at foreign factories as public expectations in the United States rise, Chief Executive Lee Scott said Thursday. >>
New Jersey regulators on Wednesday approved the acquisition of AT&T Corp. by SBC Communications Inc. after securing a pledge from SBC that it would keep several AT&T facilities in the state. >>
A crucial deadline looms a half-year away for thousands of anxious Americans weighed down by credit card and other debt following congressional passage of a measure making it tougher to erase obligations in bankruptcy. >>
413. Julio Bozano, Brazil, 69, $1.6, banking >>
The ranking of the world's richest people as estimated by Forbes magazine. Listings include rank, name, home country or state, age where known, wealth in billions of dollars and source of the money. >>
A brief look at former Boeing Co. president and chief executive Harry Stonecipher, who was forced out because of a relationship with a female employee at the company: >>
Martha Stewart is the most recent in a line of high-profile people convicted of white-collar crimes and sentenced to prison, including: >>
Martha Stewart took up the cause of prisoners' rights during her five months in prison and calls her time behind bars "life altering and life affirming." Other white collar criminals have proclaimed themselves equally transformed after emerging from prison. But are they really? >>
NOT HOME FREE: Martha Stewart has been released from federal prison in West Virginia but must spend the next five months in home confinement at her $16 million New York estate. >>
A timeline of relevant events in the Martha Stewart stock trading scandal: >>
The Bureau of Prisons statement issued just before Martha Stewart left prison early Friday: >>
She will be able to return to work and start drawing her $900,000 salary again, and she will be free to throw lavish house parties -- as long as she doesn't invite any criminals. >>
Corporate name: SBC Communications Inc. >>
THE COMPANIES: SBC Communications Inc. traces its roots to the original Bell Telephone Co. Meanwhile, AT&T, founded in 1877 by Alexander Graham Bell and two partners, was a legally sanctioned, regulated monopoly for many years before being formally broken up in 1984. >>
The Procter & Gamble Co. plans to acquire Gillette Co. for $57 billion. A brief look at each company. >>
President Bush is seeking a successor to Michael K. Powell, whose chairmanship of the Federal Communications Commission has been marked by dramatically increased enforcement of broadcast indecency standards. >>
Airbus put its stamp on aviation history Tuesday, unveiling the world's largest commercial jet and raising the stakes in its 35-year rivalry with Boeing Co. >>
Airbus' giant A380, a double-decked behemoth that could revolutionize long-haul flying, was getting a lavish coming out Tuesday, with European leaders gathered for the first official look at the world's largest ever passenger plane. >>
Delta Air Lines Inc. said Wednesday it saw record sales on its Web site the day after it announced it was cutting its most expensive fares by up to half, but the struggling carrier did not reveal the effect of the move on overall revenues and earnings. >>
A look at how Delta's overhauled fare structure affects prices for last-minute fares on certain routes, and how it compares with some competitors' ticket prices. Last-minute fares are the most expensive tickets available. >>
Estimated revenue shortfalls for major airlines in 2005, based on industrywide adoption of Delta's overhauled fare structure, which reduced some fares by as much as 50 percent. Industrywide domestic revenue totaled about $70 billion in 2004. >>
NAME -- Franklin Delano Raines. >>
Welcome to the desperate time of the impulse buy, readily apparent the last few days before Christmas when it dawns on many consumers that their shopping days are numbered. And for some last-minute buyers, this short period can be a dangerous time. >>
Last-minute shopping recommendations from consumer finance experts: >>
NAME -- J. Timothy Howard. >>
Here are brief sketches of the two top executives of the company being created by Sprint Corp.'s $35 billion purchase of Nextel Communications Inc. >>
ANNUAL REVENUE: $40 billion >>
THE DEAL: Sprint Corp. is buying Nextel Communications Inc. for $35 billion in stock and cash. >>
Patrons of Donald J. Trump's gambling halls probably won't notice, but his casino empire is now in bankruptcy after months of negotiations with bondholders over a crushing $1.8 billion debt. >>
A resurgent Kmart, home of the blue light special, is buying the once-dominant Sears department store chain in a surprising $11 billion gamble it is counting on to help both better compete with Wal-Mart and other big-box retailers. >>
A look at the history of Kmart Holding Corp., which on Wednesday announced its was combining with Sears, Roebuck & Co.: >>
_1886: Richard W. Sears, a railroad station agent who sells coal as a side job, buys unwanted watches from jeweler and founds R.W. Sears Watch Co. in Minneapolis. >>
The 400 richest Americans, including U.S. citizens now living abroad, as compiled by Forbes magazine. Following each name is the person's age, net worth, hometown and source of wealth. >>
NAME: Martha Helen Stewart. (Born Martha Helen Kostyra.) >>
NAME: Kenneth L. Lay >>
KENNETH L. LAY >>
This year's rally in stocks, which hit a milestone when the Dow Jones industrial average passed 10,000, hasn't been strong enough to make Kevin Flynn forget about the money he lost in the downturn. >>
Federal authorities announced charges Wednesday against 47 people in a broad crackdown on fraud in the foreign currency exchange market that officials said bilked millions from big-name banks and small investors alike. >>
|
 |
Investing: Latest AP News
Your Money
With airlines' new restrictions, the deals don't go as far as they used to. Here's a route to racking up the most miles and using them smartly. Click here.
More stories on how to navigate your life Each month, the Sunday Business section gives readers a chance to have their financial situations sized up by professional advisors at no charge. To be considered, send an e-mail to makeover@latimes.com. Include a brief description of your financial goals and a daytime phone number. Information you send us will be shared with others. Business Special Reports
Contact
Davan Maharaj, Business editor
Business Section
Los Angeles Times
202 West 1st St.
Los Angeles, CA 90012
Phone: (213) 237-7163
Fax: (213) 237-7837
MORE NEWS FROM THE WEB
|
| INVESTING TIPS AND TOOLS | |
|
Finance Tools
• Home Equity
• Stock, Fund Quotes & Charts • Key Media Stocks • Currencies • Reports & Prospectuses Personal Finance Center
|
|
|
Powered by Interest.com
|
|
ADVERTISEMENT - Los Angeles Local Links
Local Ads