Business and Finance News

Stocks move up on another oil decline
Kenya 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
Kenya 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
Kenya News.Net
US President George Bush has made an unguarded comment at a Houston fundraiser.
New fees mean turnaround for airlines
Kenya News.Net
New travel fees have meant hundreds of millions of dollars a year for beleaguered airlines.
Italians lose confidence in economy
Kenya News.Net
Italian consumer confidence has slumped in July to the lowest level since the 1993 recession.
Lufthansa pilots on pay strike
Kenya 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
Kenya News.Net
US banking giant Wachovia has announced a quarterly loss of US$8.662 billion.
Small town hit by housing crisis
Kenya News.Net
The mortgage crisis has hit the small town of Vallejo, near San Francisco.
UK chains drop fuel prices
Kenya News.Net
A number of UK national supermarket chains and an oil company have said they will cut the price of fuel.
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...
S&P lowers outlook on American Express to negative
Market Watch
... to negative from stable. "Although the current rating allows for some variance in financial performance within a credit cycle, the negative outlook reflects the possibility that operating stress...
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...
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.
AT&T Earnings Jump On Strong Wireless Growth
Morning Star
... ended the quarter with a nation-leading 72.9 million mobile customers, topping No. 2 U.S. operator Verizon Wireless, which serves about 69 million. Wireless revenue rose sharply...
Yahoo share gain short-lived after earnings
Examiner
Yahoo Inc. shares moved higher Wednesday but ultimately lost ground, a day after the company reported a drop in earnings and missed Wall Street's forecasts.Yahoo shares fell $1.01, 4.7 percent, to...
Bush redefines US economic downturn, saying,
The Guardian
It is the sort of folksy, down-to-earth talk you'd expect from a Texas rancher looking forward to his retirement. Speaking at a Houston fundraiser last week president Bush aired his considered...
Citigroup doubles cash to cope with markets
International Herald Tribune
Citigroup, the biggest U.S. bank by assets, more than doubled its stockpile of cash and easy-to-sell securities since last year and Gary Crittenden, the company's chief financial officer, said...
Albany International Plans Live Audio Webcast to Discuss...
CNBC
... after the close of the market.
NY Times misses Wall Street forecast
CNBC
All Associated Press news New York Times Co.'s second-quarter earnings fell 82 percent from a year ago, when it saw a one-time gain from the sale of a unit, but print advertising...
Stocks mostly rise following drop in oil prices
San Diego Union-Tribune
NEW YORK – Stocks were mostly higher Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy. Investors believe...
Microsoft training Black Country kids in joys of IT
silicon.com
... amp;quot;); Microsoft is helping youngsters in the Black Country learn about the joys of IT - and also plugging a skills gap for helpdesk support technicians in the region. The software giant has...
Software AG 2Q profit rises
CNBC
All Associated Press news Germany's Software AG said Wednesday its second-quarter net profit jumped by 10 percent on a similar increase in sales.The Darmstadt-based database...
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...

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