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Plenty of Intensity, Checkouts, Stocked Shelves at 'The City'

With gift buyers pouring into retail stores across the country on Friday to kick off the Holiday shopping season, initial reports appear to be strong.

Detroit automakers see green at end of rainbow

The makers of the muscle car and gas guzzler, may finally be seeing green.

E*Trade may be in talks with other brokers

Online brokerage E*Trade Financial Corp is believed to be in merger talks with Charles Schwab Corp. and TD Ameritrade Holding Corp, according to a report on Friday on business news channel CNBC. An E*Trade spokesperson declined to comment, and a spokesperson for TD Ameritrade said the company has been pursuing growth through mergers and acquisitions but would not comment on E*Trade specifically. Charles Schwab also declined to comment.

Freddie credit loss may surpass historic high

Freddie Mac's credit losses may surpass its historic high, if the U.S. mortgage market deteriorates more than what is forecast by the No. 2 mortgage finance company, Moody's Investors Service said.

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Wal-Mart can't block court papers access in tax dispute: report

A North Carolina state judge rejected an attempt by Wal-Mart Stores Inc to block public access to certain court documents in a tax dispute with state authorities, the Wall Street Journal reported Friday in its online edition.

Rio to flaunt own prospects in Monday presentation

Bid target Rio Tinto is likely to focus on trumpeting its prospects as an independent firm rather than revealing defense tactics as it gives its first detailed response on Monday to an all-share takeover proposal from mining rival BHP Billiton. Rio, which has said BHP's three-for-one share proposal vastly undervalues the firm, will likely showcase the strength of its own assets during Monday's presentation, analysts said.

Web deals woo shoppers from Thanksgiving table

The holiday shopping season kicked off on Thursday even before the turkey was carved, as retailers, worried that gift buying may slow this year, posted special deals on their Web sites on Thanksgiving day. Numerous retailers, including Wal-Mart Stores Inc, Best Buy Co Inc and Circuit City Stores Inc, are offering special deals online.

Jaguar, Land Rover unions back Tata bid

UK union leaders at Ford Land Rover and Jaguar brands have voted to support a Tata Motors bid for the brands if Ford sells them, UK union Unite said.

Daimler hurt by dollar but sees no U.S. recession

Daimler AG Chief Executive Dieter Zetsche does not expect the U.S. economy to contract as a result of high oil prices and the real estate crisis. The CEO also rebutted Wednesday's market speculation that Cerberus, which bought an 80 percent stake in Chrysler from Daimler earlier this year, had called on the German carmaker to extend a $1.5 billion loan.

Larsen & Toubro, Raytheon to partner for combat aircraft programme

India's top engineering and construction firm Larsen & Toubro Ltd. (L&T), has signed a memorandum of understanding (MoU) with Raytheon for the U.S. firm's medium multi-role combat aircraft program that will help develop superior defense technology for India's military forces.

Marks & Spencer to set up JV in India

Britain's biggest clothing retailer, Marks & Spencer Group Plc., is planning to set up a joint venture in India, the Economic Times reported on Monday.

HPCL plans to inject $4.5 billion over 5 years

India's second largest refining and oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) plans to inject $4.5 billion over a period of five years in fields of exploration, gas marketing and petrochemicals.

Citigroup, Saxo Bank team up for Forex trading

Citigroup is teaming up with online bank Saxo Bank to launch a web-based foreign exchange trading platform called CitiFX Pro.

BlackRock in lead to run subprime rescue megafund: report

Money management firm Blackrock has been approached by the three largest U.S. banks to run a $75 billion superfund to create a market for hard-to-trade securities imperiled by the subprime credit crisis, according to a report.

How Goldman Celebrates Thanksgiving

Just in time for Thanksgiving, the financial experts at Goldman Sachs -- who earned a Wall Street record profit of $9.34 billion in 2006-- are setting up a charity fund which they expect to grow to more than $1 billion within the next few years.

U.S. holiday air travel smooth and few delays

U.S. airlines were dogged more by anxiety than by operational glitches on Wednesday as the Thanksgiving travel rush began in earnest with scattered delays and no major problems.

Bank investors prepare flood of ballot measures

U.S. activist investors are preparing a flurry of corporate ballot measures at Wall Street banks in hopes that some big items on their wish lists, such as CEO pay reforms, will gain new traction amid the subprime lending crisis.

Online sales ease crunch for package giants

Officials at UPS said in October that its growth this peak season would be slower than in the previous four years. FedEx last week cut its forecast for the company's current quarter that ended November 30, citing fuel costs and weak freight volumes in its trucking unit.

N. Rock gets more approaches, but pitched low

Stricken British bank Northern Rock (NRK.L) has received more rescue proposals, but warned that one of them contemplated an offer well below Tuesday's closing price, sparking a new slide in its shares on Wednesday.

Mortgage applications drop in week

Mortgage applications fell last week, with demand for both refinancings and home purchases waning, an industry group said on Wednesday. The Mortgage Bankers Association's seasonally adjusted mortgage application index fell 3.6 percent to 681.7 in the week ended November 16.

Consumers glum on eve of key shopping season

The mood among consumers hit the skids in November as gasoline prices soared and the housing market downturn threatened to ensnare more Americans, a report showed on Wednesday.A drop in weekly mortgage applications, signs of stress in the labor market and crude oil prices on the cusp of $100 per barrel threw up caution flags on the eve of the critical holiday spending rush.

Investors cool on Tata, Mahindra bids for Ford brands

Buying Ford Motor Co's premium Jaguar and Land Rover brands would catapult Tata Motors or Mahindra & Mahindra onto the global stage, but doubts either Indian automaker can successfully pull off such a deal are weighing on their share prices.

Honda Fit wins Japan's Car of the Year award

Honda Motor Co's redesigned Fit subcompact won Japan's Car of the Year award, beating finalists including Nissan Motor Co's Skyline and Fuji Heavy Industries Ltd's Subaru Impreza.

Malaysia's Proton shares tumble after VW talks end

Shares in Malaysian state-controlled carmaker Proton sank to a near seven-year-low on Wednesday, a day after the government ended talks with Germany's Volkswagen over a possible alliance.

Freddie Mac shares drop on analyst price cuts

Shares of Freddie Mac fell as much as 9.5 percent on Wednesday after analysts slashed their price targets on the stock, saying an unexpectedly wide third-quarter loss may make it tough for the No. 2 U.S. home funding company to inject the liquidity needed to rescue an ailing housing market.

Japan's MUFG H1 profit hit by subprime, card woes

Mitsubishi UFJ Financial Group Inc, Japan's largest bank, posted a 49 percent drop in first-half profit on Wednesday, hit by subprime-related investments and hefty losses at its credit card unit.

GM Wants Green Car Crown

GM's electric car will launch by 2010 despite internal skeptics and worriers, a company chief says

BlackRock set to manage SuperSIV fund: report

Asset manager BlackRock is set to be signed up as the manager of a $75 billion fund being put together by U.S. banks to help struggling structured investment vehicles (SIVs), the Financial Times said, without citing the source of the information.

Dubai Ports IPO raises $5 billion

Dubai raised almost $5 billion selling a stake in port operator DP World in the Middle East's largest IPO, setting the scene for perhaps the biggest test for the emirate's two-year-old bourse where the shares will trade.

Union chief blasts stupid Chrysler strategy

Chrysler LLC's recent decision to cut up to 10,000 factory jobs and slash production in North America tested the credibility of the automaker's new private equity owner, the head of the Canadian Auto Workers said on Tuesday.

More consumers to spend less on holiday

A growing number of consumers say they plan to spend less on gifts this holiday season than last year, according to a Reuters/Zogby poll, the latest sign of a potentially bleak Christmas for retailers. A total of 38.8 percent of those surveyed said they would spend a little less or a lot less this year, up from 31.1 percent a month ago, according to the poll.

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