UNITED STATES

Delta, Southwest warn on fuel, demand

IBTimes Logo
Waning consumer confidence and soaring fuel costs caused Delta Air Lines Inc to warn of a possible operating loss on Tuesday, while Southwest Airlines Co said it would restrict capacity growth to brace for tougher times ahead.
IBTimes Logo

Dow Chemical to shut plants, cut jobs, take charge

Dow Chemical Co will shut a number of plants and eliminate about 1,000 jobs to cut costs and direct capital toward businesses with better growth prospects, the largest U.S. chemical maker said on Tuesday.
More news
IBTimes Logo

Singapore's Temasek Eyes Western Bank Stakes

Singapore's Temasek, Asia's pioneer sovereign wealth fund with stakes in Barclays and Standard Chartered, looks to be calling the top of the China stock boom and is scouting for cheaper targets in the West.
IBTimes Logo

Credit jitters hit global stocks and dollar

Jitters about the U.S. economy and the credit crisis kept investors away from riskier assets on Tuesday, sending stocks sharply lower and boosting the Japanese yen against higher-yielding currencies.
IBTimes Logo

Oil slips to near $88

Oil fell more than $1 to stand near $88 a barrel on Tuesday, awaiting a clear signal from OPEC as a chorus of opinion within the exporting group spoke against an output increase.
IBTimes Logo

Yen climbs as global risk aversion rises

The yen gained against the dollar and higher-yielding currencies for a second day on Tuesday as escalating concerns about credit turmoil prompted investors to cut back on risky positions.
IBTimes Logo

Dow Chemical to close plants, cut jobs, take charge

Dow Chemical Co said on Tuesday it would shut down a number of plants and eliminate about 1,000 jobs to cut costs and direct capital toward businesses with better growth prospects. The largest U.S. chemical maker said it would incur a related charge of $500 million to $600 million, which includes severance costs and asset write-downs.
IBTimes Logo

U.S. Iran report is no slam dunk

U.S. intelligence agencies have showed independence from the Bush administration with a skeptical assessment of Iran's nuclear capabilities that is far from the slam dunk case against Iraq before the war.
IBTimes Logo

Viacom to Sell 1.3 Mln Rock Band Units

U.S. media conglomerate, Viacom Inc plans to ship 1.3 million copies of its MTV-based video game Rock band in the fourth quarter, the company said Monday.
IBTimes Logo

Holy Smokes! World's worst polluters list is out!

World's two fastest growing economies, China and India, have earned the dubious distinction of being home to some of the biggest polluting firms across the globe, according to a list published by Carbon Monitoring for Action (CARMA), a product of the Confronting Climate Change Initiative at the Center for Global Development, an independent think-tank located in Washington, DC.
IBTimes Logo

Oil hits 5-week low below $88

Oil plumbed five-week lows below $88 a barrel on Monday as concerns about the health of the U.S. economy extended losses that have cut 10 percent from prices over the past two weeks.
IBTimes Logo

Ford U.S. November sales up 0.4 pct

Ford Motor Co (F.N) on Monday posted a 0.4 percent increase in U.S. sales in November, up for the first time in 12 months, driven by sales to commercial fleet and government customers. The embattled U.S. automaker said it sold 182,951 vehicles in the United States last month, compared with 182,259 vehicles a year earlier.
IBTimes Logo

U.S. says Iran halted nuclear weapons program

Iran halted its nuclear weapons development program in the fall of 2003 under international pressure but is continuing to enrich uranium, which means it may still be able to develop a weapon between 2010 and 2015, senior intelligence officials said Monday.
IBTimes Logo

US Stocks Mixed on Fed Outlook

US stocks were nearly flat on Monday after dropping earlier following comments by Eric Rosengren, the Federal Reserve Bank of Boston President, said the economy's expansion will slow down.
IBTimes Logo

A cocky India enjoys global economic limelight

Record stock highs and economic growth. Takeovers of European firms. Even cricket world trophies. This year, perhaps more than ever, India has bulged with self-confidence -- some say dangerous cockiness -- that underscores how executives, politicians and the middle-classes feel the global economic juggernaut is unstoppable.
IBTimes Logo

Paulson outlines mortgage-aid plan

State and local governments should be permitted to issue tax-exempt bonds that would fund programs to prevent foreclosures, Treasury Secretary Henry Paulson said on Monday. Under the plan, state and local governments could temporarily broaden their tax-free exempt bond programs to include mortgage refinancing, Paulson said.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.