Toyota's stellar ratings slip
Every car from Toyota is no longer automatically recommended, according to a new reliability study.
SEC probing Countrywide CEO stock sales: report
The Securities and Exchange Commission has opened an informal probe into stock sales by Countrywide Financial Corp Chief Executive Angelo Mozilo, the Wall Street Journal said on Wednesday.
BA circles bmi and American Airlines: report
British Airways is looking at merger opportunities that could create a trans-Atlantic super-carrier in response to a joint venture between Delta and Air France, according to a report.
EBay posts loss on charge, but auctions strength
EBay Inc said on Wednesday it had a strong quarterly performance in auctions, masked by a big net loss due to a write-down, and that its full-year earnings would be at the top end of expectations.The third-quarter net loss of $936 million, or 69 cents per diluted share, compared with a year-ago profit of $281 million, or 20 cents per diluted share. The loss stemmed from a $1.39 billion write-down on eBay's takeover of Internet phone service Skype.
More news
BBC in drama of 21st century media
Having angered Queen Elizabeth and the public, Britain's BBC is set to shed staff with sweeping job cuts this week in the biggest crisis to hit the world-renowned broadcaster since a government clash over Iraq.
Altria profit beats estimates
Altria Group Inc, parent of the Philip Morris tobacco companies, posted quarterly profit that beat Wall Street estimates, helped by higher prices in the United States and the weaker dollar.
GMAC home-lending unit to cut 25 percent of staff: report
Residential Capital LLC, the home-lending arm of GMAC Financial Services, will announce that it is cutting its work force by about 25 percent today, the Wall Street Journal reported on Wednesday.
JPMorgan net rises despite write-downs
JPMorgan Chase & Co Inc said on Wednesday third-quarter net income rose 2.3 percent despite $1.64 billion in write-downs on leveraged loans and collateralized debt obligations.
Coca-Cola Co. profit tops estimates
Coca-Cola Co said on Wednesday that its quarterly net profit rose a better-than-expected 13 percent, helped by strong sales of noncarbonated drinks and the weak dollar.
Air France and Delta set transatlantic venture
Air France-KLM and Delta Air Lines Inc announced plans on Wednesday to team up on routes linking major U.S. cities and London's Heathrow airport in a challenge to rival British Airways Plc. The joint venture aims to take advantage of the Open Skies pact set to liberalize transatlantic rules next year, and will be implemented in April 2008.
Wells Fargo, other banks hurt by credit losses
Wells Fargo & Co and other U.S. regional banks on Tuesday reported disappointing third-quarter results, hurt by mounting losses from mortgages and other loans as the U.S. housing market slumps.Earnings fell short of analysts' forecasts at Wells Fargo, Regions Financial Corp and KeyCorp U.S. Bancorp's results topped forecasts, though profit fell. All four banks said loan losses rose.
Singapore's Oculus agrees $410 mln reverse takeover
Oculus has entered into a reverse takeover agreement with waste recycling and carbon credit firm Aretae in a deal worth S$600 million ($410 million), the former contact lens maker said in a statement on Tuesday.
Singapore's Best World 2007 profit growth to slow
Singapore's Best World, a health care firm focused on China, expects profit growth to take a hit this year due to higher costs from its aggressive expansion drive, a company executive told Reuters on Tuesday.
China's CITIC bids for Bear Stearns stake
China's CITIC Bank Corp Ltd is bidding for a stake in Bear Stearns Cos, a senior Chinese regulator said, in the first official confirmation of media reports that the state-run bank was a potential suitor for the smallest of Wall Street's five big independent brokerages.
J&J third-quarter profit falls
Johnson & Johnson on Tuesday said third-quarter profit fell, hurt by restructuring charges and weak demand for its Procrit anemia drug, but the results handily beat Wall Street expectations.
Spain's top 3 cell phone companies probed for collusion
Spain's competition watchdog has opened a probe of the country's three largest mobile phone operators for possible collusion, Spain's Consumer and Users Organisation said on Monday.
Phone carriers quiet on U.S. surveillance program
Major U.S. telephone carriers refused to answer questions from the Democratic-led Congress about their possible participation in President George W. Bush's warrantless domestic spying program, according to documents released by lawmakers on Monday.
Delta Air profit jumps on higher revenue
Delta Air Lines Inc, which emerged from bankruptcy at the end of April, posted higher-than-expected quarterly profit on Tuesday, boosted by international flying. The performance gave an indication that the industry's recovery from a long slump is still intact despite soaring fuel prices and signs that U.S. economy is slowing.
Two aircraft in minor collision at UK's Heathrow
Two aircraft were involved in a minor collision on the ground at London's Heathrow airport on Monday. No one was injured.
Chevron-led Russia venture faces challenges: report
An energy development consortium led by U.S. oil producer Chevron Corp. in Kazakhstan is facing challenges from the Russian government over a pipeline that runs through Russian territory, the Wall Street Journal reported.
Ford pleased with interest in Jaguar and Land Rover
Ford Motor Co Chief Executive Alan Mulally said on Monday he is pleased with the breadth and depth of interest in Ford's British luxury brands Jaguar and Land Rover.
Resolution battle heats up as Swiss Re eyes assets
Swiss Re joined those circling 5 billion pound ($10 billion) takeover target Resolution on Monday, confirming it may back potential bidder Standard Life by taking on some Resolution assets.
HSBC says has not joined talks for US mortgage fund
HSBC Holdings, Europe's biggest bank, said on Monday it has not participated in talks with big U.S. banks forming an US$80 billion fund to buy ailing mortgage securities and other assets, and added there are no plans for a similar fund in Europe.
India's ICICI Bank sees wealth business up 70 pct
India's No. 2 lender, ICICI Bank, expects to sustain 70 percent growth in its private wealth management business this year on the back of rising affluence, a senior official said on Monday.
Danone to sell 20 pct Bright Dairy stake
French food group Danone will sell its 20 percent stake in major Chinese dairy producer Bright Dairy and Food Co, the Chinese company said on Monday.
CSCL to expand fleet after Shanghai listing
China Shipping Container Lines Co aims to list in Shanghai by the end of this year to fund its purchase of container assets from its parent and to expand its fleet by 44 percent over the next few years, sending its shares to a record high.
Airbus delivers first A380, denies new delays
Airbus handed the first A380 superjumbo to Singapore Airlines on Monday in a slick ceremony designed to lift its image after two years of setbacks, but was forced to deny rumours of another bout of delays.
Sallie Mae buyers offer to terminate agreement
The consortium that agreed to buy student lender Sallie Mae for $25 billion said on Monday it has offered to terminate their agreement.
GM details savings from UAW health care deal
General Motors Corp said on Monday it will shift $16 billion from an existing trust fund to a new entity that will take over $47 billion in health-care obligations for some 270,000 union-represented retirees.
PetroChina tops $400 bln as investors bet on Q4
Shares of Asia's top oil and gas company, PetroChina Co Ltd, jumped 13 percent on Monday as news of increased production and hopes of major new discoveries spurred optimism about its performance in the fourth quarter.
Top court rejects appeal by Microsoft, Best Buy
The U.S. Supreme Court rejected on Monday an appeal by Microsoft Corp and Best Buy Co Inc of a ruling that reinstated a lawsuit by the electronics retailer's customers who claimed to have been improperly charged for Microsoft's MSN Internet service.
Miami condo market faces moment of truth in 2008
Workers are painting, patching stucco and peeling protective plastic from gleaming panes of balcony glass at a new 1,000-unit condo called The Plaza, two towers that rise 43 and 56 stories over Miami's bank district.
Mattel posts lower profit on recall charges
Mattel Inc, the world's largest toy company, posted a lower quarterly profit on Monday, missing Wall Street estimates, on charges stemming from its recent global recalls of potentially harmful toys.
Citigroup profit plunges 57 percent
Citigroup Inc, the largest U.S. bank, said on Monday third-quarter profit fell 57 percent, hurt by losses from subprime and leveraged loans, fixed-income trading and its U.S. consumer business.
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