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Buffett could buy parts of Countrywide: report

Billionaire investor Warren Buffett may buy parts of beleaguered mortgage lender Countrywide Financial Corp, some investors are speculating, according to The Wall Street Journal.

Investor: Ready to take Nasdaq stock only for OMX

Investor AB is ready to take only Nasdaq shares for its OMX stake under Nasdaq's bid for the bourse firm, a spokesman said on Tuesday, adding that this stance was the same as before Friday's rival offer from Borse Dubai.

Suit seeks to force Mattel to pay for lead testing

Toy maker Mattel Inc was sued on Monday in an attempt to force it to set up a fund to pay for testing children who may have been exposed to lead poisoning from its toys, according to a Los Angeles-based attorney.

Capital One slashes jobs, mortgage industry swoons

The U.S. mortgage industry took another battering on Monday, as Capital One Financial Corp said it will shut a lending unit it bought less than a year ago, while two mortgage companies took steps to bolster liquidity as losses piled up.

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Lowe's posts higher profit

Lowe's Cos. reported a higher-than-expected quarterly profit on Monday, and its shares rose more than 6 percent as the home-improvement retailer said sales were improving in some regions despite the soft U.S. housing market. The company, which ranks second behind Home Depot Inc., said difficult sales comparisons were starting to lessen, but still cut its full-year profit and sales forecast.

China Minsheng Bank plans to buy trust firm: sources

China Minsheng Banking Corp is in the final stages of talks to buy control of a domestic trust firm, as it diversifies in the financial sector, two sources familiar with the situation said on Monday.

3M says filters in patent suit no longer on market

Diversified manufacturer 3M Co said on Friday that two of its products that are the subject of a patent fight with medical filter maker Pall Corp are no longer on the market.

Luminent Mortgage announces bailout

Luminent Mortgage Capital Inc, which has struggled with liquidity problems because of investments in mortgages, on Monday announced a bailout in which it would sell a majority stake in itself at a deep discount.

Thornburg sells assets, shores up liquidity

Mortgage lender Thornburg Mortgage Inc said on Monday it sold $20.5 billion of assets and reduced its borrowings to cut its risk amid a difficult market for home loans.

Eco-millionaires see boom times ahead

Mankind's response to climate change will shift how the world gets its energy and is already making green barons out of early investors in renewable energy, clean technologies and carbon trading.

Whole Foods decision could boost other deals

Upcoming deals such as Sirius Satellite Radio's planned takeover of XM Satellite Radio could be helped by a court decision in favor of a takeover deal between two organic food retailers.

SunTrust Banks to cut 2,400 jobs

SunTrust Banks Inc., the seventh-largest U.S. bank, on Monday said it expects to eliminate about 2,400 jobs by the end of 2008 as part of a plan designed to save $530 million annually by 2009.

OMX Chairman favors Nasdaq's bid: papers

OMX Chairman Urban Backstrom said Borse Dubai's all-cash bid was not more attractive than Nasdaq's share-and-cash bid and called it hostile, newspapers reported on Monday.

Nasdaq seeks to sell LSE stake, focuses on OMX

Nasdaq is abandoning its 797 million pound ($1.58 billion) stake in the London Stock Exchange, five months after its takeover bid failed, as it focuses on buying Nordic exchange operator OMX. Nasdaq Stock Market Inc, which needs overseas acquisitions to gain an international foothold, is locked in a $4 billion bidding war with Borse Dubai for OMX.

HSBC says in talks to buy S.Korea's KEB

HSBC Holdings Plc said on Monday it was in talks to buy a majority stake in Korea Exchange Bank (KEB) worth $4.8 billion from Lone Star, the latest chapter in a lengthy financial and judicial saga.

Anti-trust authorities appeal to block Whole Foods merger

U.S. antitrust regulators appealed a court ruling on Friday which denied their request to block the largest natural grocer, Whole Foods Market Inc., from acquiring its closest rival, Wild Oats Markets Inc.

Dendreon says breast cancer drug effective in initial study

Dendreon Corp. (Nasdaq: DNDN) said its breast cancer vaccine Neuvenge appeared to be safe, according to results of an initial study.

Pfizerâ€™s Lipitor patent reissue request rejected

Pfizerâ€™s effort to extend the patent for its best-selling cholesterol-reducing drug Lipitor an additional 15 months into 2011 has been dealt preliminary setback.

GM CEO says consumers holding up despite turbulence

The top executive at General Motors Corp said on Friday that U.S. consumers appeared to be holding up well despite the recent credit crisis that roiled world markets and prompted the U.S. central bank to cut rates.

Appeals court OKs lawsuit against Cingular

A U.S. Appeals Court on Friday reversed a lower court decision and allowed a class-action lawsuit against Cingular Wireless to go ahead.

Toys R Us stops sales of China-made bibs

Retailer Toys R Us on Friday said it removed all Hamco Inc.'s vinyl baby bibs, which were made in China, from its shelves as a precaution after an independent tester found two samples of bibs containing excessive amounts of lead.

Dow Jones could pay more to refinance debt

Dow Jones & Co Inc Chief Executive Richard Zannino said on Friday that a worsening credit market likely would force the company to pay more to refinance debt.

Countrywide, other lenders rally on Fed rate cut

Countrywide Financial Corp shares leaped higher on Friday after the U.S. Federal Reserve lowered a key borrowing rate, making it easier for lenders to obtain credit.

Major banks meet with policy officials, praise Fed's move

A group of major banks meeting in a conference call with U.S. monetary policy officials expressed strong support for the Federal Reserve's move on Friday to bring stability to volatile financial markets by reducing the discount lending rate.

J.M. Smucker quarterly profit beats view

Peanut butter and jelly maker J.M. Smucker Co. said on Friday quarterly profit rose a better-than-expected 42 percent, helped by the acquisition of dairy company Eagle Family Foods, lower restructuring costs and gross margin improvement.

Nasdaq says it remains committed to OMX takeover

U.S. stock market Nasdaq said on Friday that it remained committed to its plan to acquire Nordic exchange OMX and urged shareholders to support its bid after a $4 billion rival offer emerged from Borse Dubai.

BNP plays down subprime hit, France seeks answers

France's biggest listed bank BNP Paribas said its exposure to subprime risk was limited and manageable as it moved to reassure investors a week after rattling markets by freezing three of its funds.

AIG acquires 90 pct of Bulgarian telco BTC

An investment arm of U.S. insurance giant AIG has completed the planned acquisition of 90 percent of Bulgaria's dominant telecoms company BTC, AIG said on Friday.

Ping An H1 profit soars 140 pct on banking

Ping An Insurance (Group) Co., China's second-largest life insurer, posted a 140 percent gain in first-half profit late on Thursday, driven by a contribution from its banking operations and strong investment returns amid a booming domestic stock market.

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