COMPANIES

Whitney Tilson, the outspoken founder of hedge fund T2 Partners LLC, is girding for a deeper mortgage market meltdown after being singed in his first foray into the credit crisis' most toxic of securities -- subprime bonds.

The initial public offering of the financial instrument for betting on U.S. home prices has failed because its auction could not generate a balance of investor interest in the product's two linked trusts, according to a filing with the U.S. Securities and Exchange Commission.

U.S. mortgage rates fell in the latest week, trekking closer to a record low set last month. Interest rates on U.S. 30-year fixed-rate mortgages fell to 4.82 percent for the week ending May 21, down from the previous week's 4.86 percent, according to a survey released on Thursday by home funding company Freddie Mac.

Boeing Co said on Thursday that its Dreamliner 787 was still on track for its first flight later this quarter, and the company stood by a previous full-year forecast.

Off-price retailer Ross Stores Inc posted a 15 percent rise in quarterly profit that matched estimates and it raised its full-year earnings view as strong sales and merchandise margins boosted business.

Dental equipment distributor Patterson Cos Inc. reported lower-than-expected quarterly results as sales fell at two of its key businesses, and the company forecast a weak fiscal 2010, sending its shares down 11 percent.

Chinese solar energy company Suntech Power Holdings Inc on Thursday reported a surprise quarterly profit and said it expects its revenues to grow in the second quarter.

Porsche denied on Thursday that it had filed an application for aid that a government source had said had been rejected.

Internet search engine operator Google has decided against acquiring a newspaper, the Financial Times reported, citing the company's chief executive and chairman, Eric Schmidt.

Fiat SpA is convinced it has more than a 50 percent chance of succeeding in its bid for Opel because it does not think the other contenders have the expertise to revive the car maker, an Italian newspaper said.

The head of Fiat SpA said it had more than a 50 percent chance of succeeding in its bid for Opel, adding that the other contenders did not have the expertise to save the struggling car maker, according to a newspaper report.

The pursuit of German carmaker Opel has narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.

An executive and an employee of a broker-dealer firm were charged with defrauding Citgo Petroleum Corp, a subsidiary of PDV Holding Inc owned by Venezuelan state oil company PDVSA, court documents released on Wednesday show.

Chinese state-owned metals firm Chinalco will restructure its $19.5 billion tie-up with miner Rio Tinto Ltd/Plc to allay Australian government concerns, the Sydney Morning Herald newspaper said on Thursday.

Chrysler’s new chairman, Robert Kidder, a private-equity investor and former consultant who once worked for Ford Motor Co will lead the automaker currently reorganizing under court protection.

A judge declined on Wednesday to postpone Chrysler's bankruptcy to allow a district court to hear arguments about whether the U.S. government exceeded its authority in the reorganization of the automaker.

The largest chemical maker in the US, Dow Chemical on Wednesday said it will sell another $900 million strategic assets from its Calcium Chloride unit for $210 million to pay down its debt on its Rohm and Haas acquisition of $16.4 billion.

Redwood Real Estate Partners, Inc said on Wednesday it launched a fund to buy up to $500 million in distressed residential real estate amid an expected surge in bank-owned properties.

The U.S. Congress on Tuesday sent President Barack Obama a housing rescue bill that aims to save 400,000 homeowners from foreclosure and will spend $2.2 billion on programs to aid the homeless.

The families who control Porsche are open to the idea of selling a stake to an outside investor, the company said Wednesday.

The pursuit of German carmaker Opel appears to have narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.

President Barack Obama's tough fuel economy program for vehicles could put another damper on the struggling ethanol business, because the alternative fuel packs a lower energy content than gasoline.

The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.

Italy's Fiat , car parts group Magna and investment firm RHJ were all expected to submit offers for Opel, the German unit of U.S. carmaker General Motors , by a Wednesday deadline.

Novartis AG is buying the injectable generic cancer drugs business of Austria's EBEWE Pharma and may pursue other similar deals as it fleshes out a planned diversification away from brand-name treatments.

Pfizer Inc has struck licensing agreements with two Indian-based companies, as the world's largest drugmaker seeks new avenues of growth in generics and emerging markets.

Staring at the locked gates of a Fiat car factory, Mimmo Vacchiano says many families in this poor corner of southern Italy face a stark choice unless its turnstiles reopen.

Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.

Italy's Fiat , car parts group Magna and investment firm RHJ were all expected to submit offers for Opel, the German unit of U.S. carmaker General Motors , by a Wednesday deadline.