COMPANIES

A clinical study shows antidepressant Prozac could be used to heal other conditions caused by brain cell dysfunction such as the lazy-eye.In the study, Prozac returned old brain cells to a more p...

Southwest Airlines Co. did better than most other airlines in the first quarter, as increased revenue and fuel hedging allowed it to beat earnings expectations and post a $34 million, or 5 cents a sh...

Pfizer Inc., the world's largest drug maker, reported on Thursday that its profit in the first quarter slumped 18 percent as generic competition slashed sales of drugs.Its net income declined ...

Samsung Group Chairman was indicted of tax evasion and breach of trust on Thursday, but was cleared of a bribery charge, after a three month probe into allegations of corruption at South Korea's...

MGIC Investment Corp., the largest U.S. mortgage insurer, reported a smaller than expected first quarter loss, sending its shares up more than 20 percent.MGIC lost $34.4 million, or 41 cents per sh...

Nokia, the world's largest maker of mobile phones, on Thursday released its first quarter results with a 25 percent increase in earnings, boosted by new demand from emerging markets, but less be...

United Auto Workers walked off the job at General Motors Corp.'s Delta Township plant at 10 a.m. on Thursday after a deadline passed with no deal on a local contract.Around 2,300 union employ...

Freddie Mac has agreed to make 90-day commitments to several large banks on the pricing of conforming jumbo loans, according to a report.The government-sponsored home loan lender will offer the d...

JPMorgan Chase & Co. executives anticipate the real estate market to keep falling, with prices dropping as much as 9 percent in 2008.The New York-based bank's chief executive Jamie Dimon t...

Pfizer Inc. will pay Avant Immunotherapeutics's Celldex Therapeutics Inc. unit to acquire the exclusive global license of a brain cancer vaccine treatment which is currently in Phase 2 development, the companies announced late Wednesday.

SLM Corp, a student lender also known as Sallie Mae, reported a first quarter net loss as its income from the sale of student loans in tight credit markets disappeared.

Gilead Sciences Inc. reported on Wednesday its first quarter earnings rose 22 percent relying mostly on sales of its drug for AIDS treatment.

JC. Penney Co., the third largest U.S. department store chain, said it will open fewer new stores this year than originally planned and it will increase its efforts to attract frugal shoppers away from rivals by revising its marketing pitch and adding new brands.

Online auctioneer eBay Inc. posted a 22 percent rise in first-quarter on Wednesday, beating analyst expectations, with its revamped website adding buyers for the first time in a year and favorable currency rates.

German energy company E.ON has said it may be in the running for a possible takeover of nuclear power company British Energy. British Energy has become a takeover target thanks to its struggle with rising costs, which forced the company to close a number of its plants last year.

The Advertising Standards Authority (ASA) has said that budget airline easyJet broke advertising rules by increasing its fares after advertising a 25 per cent discount on its routes.

Boston Scientific Corp. will purchase CryoCor Inc. for $17.6 million or $1.35 a share the company said on Wednesday.

Eli Lilly & Co. said on Wednesday it may cut 500 jobs as the company makes more efficient manufacturing operations in Indianapolis, its home city.

Beijing-based New Oriental Education and Technology Group Inc., a provider of private educational services in China, reported better-than-expected quarterly results on an increase in student enrollments.

A pair of the largest U.S. banks reported that profits in the first quarter fell due to the housing downturn but they still managed to beat Wall Street analysts' expectations sending shares higher.

JJB Sports Plc has reported a drop of 28.5 per cent in full year profits for the full year 2007. The sports retailer said that its total pre-tax profits fell from £47.2 million down to £33.8 million last year.

China's Hong Kong based Cathay Pacific Airways Ltd. is planning to increase flights to India to meet the rising throughput between Hong Kong and India, the company announced on Wednesday.

AMR Corp, parent of the No. 1 U.S. carrier American Airlines, reported a first-quarter loss of $328 million on Wednesday, led by record high fuel costs.

Abbot Laboratories Inc. reported on Wednesday its earnings in the first quarter of 2008 rose 34 percent off strong sales of its medical products abroad.

Vivendi received approval on Wednesday from the European Commission to merge its videogame unit with Activision Inc., in a deal worth $9.85 billion.

JPMorgan Chase & Co., the third largest U.S. bank beat expectations on Wednesday, despite reporting a 50 percent drop in first quarter profit as it wrote down $5.1 billion in assets linked to mortgages and other loans.

U.S. soft drinks giant Coca Cola reported Wednesday that better-than-expected first-quarter profit backed by an increase in international sales and favorable foreign currency conversions boosted revenue.

China's Yangtze Power Co Ltd, operator of the nation's biggest hydropower project of Three Gorges, lowers its earnings estimate in first quarter from the year earlier, due to the rising costs and less power generation.

Debenhams Plc has released its interim results for the 26 weeks ended 1 March 2008. The retailer said that its like-for-like sales fell marginally by 0.7 per cent in the period, but were up 1.0 per cent in the 32 weeks to 12 April 2008.