COMPANIES

Best Buy Shares Drop on Lower Profit, OUtlook

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Shares of Electronics retailer Best Buy Co. (NYSE: BBY) plunged on Tuesday that it said quarterly profit fell by 18 percent as sales of low-margin merchandise outpaced revenue from pricier products.

Surge in GE shares pushes market cap past $400 bln

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Shares of General Electric Co. surged more than 3 percent to a five-year high on Tuesday, pushing the company's market capitalization above the $400 billion mark, on a technically driven wave of buying, investors said.
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Disney Deluxe

Walt Disney Co. is using a movie about a rat in the kitchen, 'Ratatouille,' as a hook to expand its its move into upscale branding
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Nissan to Boost Crossover SUV Production in UK

Nissan Motor Co. announced on Monday that it will spend £2.4 million ($4.8 million) to ramp up production capacity for its Qashqai crossover sport-utility vehicles at its Sunderland plant in the U.K.
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Cadbury to cut jobs as drinks sale nears

Cadbury Schweppes Plc, the world's largest confectionery group, plans to cut 7,500 jobs and close around ten plants as it seeks to catch up with the profitability of U.S. rivals after the sale of its drinks arm.
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Boeing-Airbus Battle at Paris Air Show

Airbus racked up a series of big orders at the opening Monday of the world's biggest air show, stealing some early limelight from U.S. rival Boeing Co.
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Alitalia shares slide amid worries about sale

Italian airline Alitalia's shares on Monday fell to a 2007 low on worries its sale by Rome may collapse after one of the two final bidders, Russia's Aeroflot, expressed concern about the price tag.
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Lehman Brothers rising as banking power: Barron's

Lehman Brothers's lagging stock price offers the chance to buy into a rising power as it seeks to join the company of larger investment banks like Goldman Sachs and Morgan Stanley, Barron's reported in its June 18 edition.
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Airbus seen announcing Qatar, Emirates deals

The 47th Paris air show opens on Monday with France-based planemaker Airbus expected to announce major deals from Middle East-based airlines as it seeks to make up ground on sales by U.S. rival Boeing Co.
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GE, Pearson Consider Dow Jones Bid

General Electric Co. and Pearson Plc may challenge News Corp.'s $5 billion bid for Dow Jones & Co., with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and Wall Street Journal reported on their Web sites on Sunday.
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BC Partners in lead to buy Intelsat: report

London-based private-equity firm BC Partners was in the lead to purchase satellite operator Intelsat Ltd. for about $5 billion plus the assumption of about $11.5 billion in debt, The Wall Street Journal Online reported.
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Boeing Pushes Engine Makers to be Green

The head of Boeing Co.'s commercial aircraft unit on Sunday backed a call by rival Airbus to work closely on producing more environmentally friendly planes, but said real progress was the responsibility of jet engine makers, rather than plane builders.
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CEO's High Profile Concerns Rivals

They may not be blaming him for making their lives more difficult -- yet. But rivals at private equity firms sure wish that Stephen Schwarzman, the founder and CEO of buyout firm The Blackstone Group, would get his name off the front pages.
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Cadbury pleads guilty in salmonella case

Cadbury Schweppes Plc, the world's largest confectionery group, pleaded guilty on Friday to charges of selling unsafe chocolate in Britain and Ireland during 2006 and faces an unlimited fine.
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Goldman and B. Stearn's Mortgage Woes

Goldman Sachs Group Inc. and Bear Stearns Cos. Inc. are learning that it's a tough time to be in the U.S. mortgage business. Both banks suffered from rising home buyer defaults in the latest quarter.
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Qatar raises Sainsbury stake to 25 pct, shares jump

Qatar's royal family raised its stake in Britain's J. Sainsbury Plc to 25 percent, boosting the supermarket operator's shares amid expectations it will come under renewed pressure to raise billions through a property selloff.
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Aviation industry braced for Paris slowdown signs

Planemakers are riding high on surging demand that has pushed orders well over $100 billion a year, but cracks are beginning to show and the sprawling Paris air show which opens on Monday could reveal a slowdown looms.
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Bear Stearns net drops on mortgage woes, charge

Investment bank Bear Stearns Cos. Inc., one of the nation's largest mortgage bond underwriters, said on Thursday quarterly earnings fell by a third as trouble in the mortgage market hurt bond trading revenue and it wrote down assets at a stock trading venture.
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Del Monte fourth-quarter profit falls

Del Monte Foods Co., maker of Meow Mix cat food, StarKist tuna and its own canned fruits, on Thursday posted a drop in quarterly profit, hit by higher costs for some items and lower seafood sales volumes.
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Colgate warns of fake toothpaste in U.S.

Colgate-Palmolive Co. on Thursday said counterfeit 'Colgate' toothpaste that may contain a toxic chemical had been found in discount stores in four U.S. states.
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Sanofi hit as U.S. panel rejects weight-loss drug

Sanofi-Aventis shares suffered their biggest fall since 2002 after a U.S. health panel advised against approving its weight-loss pill Acomplia over concerns it may be linked to thoughts of suicide.
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Delphi, GM near deal with UAW: report

General Motors Corp. and bankrupt auto parts maker Delphi Corp. are near a deal with the United Auto Workers union that would provide a cash payout to Delphi workers in exchange for lower hourly wages, the Detroit News reported on Thursday.
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Hyperion says plans first US refinery since 1976

Little-known, privately held Hyperion Resources Inc. said on Wednesday it plans to build an $8 billion oil refinery, the first in the United States since 1976, at one of several sites under consideration in the U.S. Midwest.
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Detroit carmakers to seek big union concessions: report

The three big Detroit automakers will seek unprecedented concessions from the United Auto Workers union (UAW) in contract negotiations, The Wall Street Journal reported in its online edition on Thursday, citing auto executives.

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