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U.S. oil near year high above $77

U.S. oil climbed above $77 on Wednesday, inching towards its all-time high, on forecasts for another weekly decline in crude stocks in top consumer the United States and a recovery in world share markets.

GM trounces estimates, shares surge

General Motors Corp on Tuesday said it flipped to a quarterly net profit, trouncing Wall Street estimates as it benefited from cost-cutting, a better mix of products and growing sales overseas. GM, whose shares rose about 6 percent in early electronic trading following the results, posted a net profit of $891 million, or $1.56 a share, compared with a net loss of $3.4 billion, or $5.98 a share a year earlier.

Global stocks rally sharply as credit market calms

Stocks around the world bounced back sharply on Tuesday as volatile credit markets stabilized and after Wall St took heart from still-brisk corporate earnings growth and the smooth wind-up of another troubled hedge fund.

China tells Paulson it's poor and poses no threat

China on Tuesday deflected U.S. pressure for a faster rise in the yuan and bolder economic reforms by telling visiting Treasury Secretary Henry Paulson that it is still poor and poses no threat to anyone.

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Brown hails bonds with U.S. as he meets Bush

British PM Gordon Brown wants to keep close ties and says his nation shares its ideals with America.

Lenovo's Q1 set to leap 6-fold but price war looms

China's Lenovo Group, the world's third-largest computer maker, is expected to post a six-fold rise in quarterly profit on Thursday on strong corporate demand but faces unrelenting price pressure at home.

Verizon Wireless to buy Rural Cellular

Verizon Wireless, the No. 2 U.S. wireless service, said on Monday it would buy Rural Cellular Corp for $757 million in cash to save on roaming costs and expand its customer base.

Verizon quarterly profit rises

Verizon Communications Inc. said on Monday its second-quarter profit rose 4.5 percent as subscriber growth for its FiOS TV service accelerated while wireless growth remained steady.

Most U.S. mid-sized companies not hiring: survey

More than half of U.S. mid-sized companies are not planning to hire over the next 12 months or may lay people off, and fewer than a third of the firms expect strong economic growth, a survey said on Monday.

Liberty reportedly mulling Virgin Media bid

John Malone, the U.S. media mogul and chairman of Liberty Global, is considering entering a $23 billion auction for cable operator Virgin Media, the Financial Times reported on its Web site on Sunday.

Oil down on profit taking

Oil prices dipped on Monday as investors took profit after U.S. crude prices leapt more than $2 to their second-highest close on record, fuelled by upbeat signals on the U.S. economy and nagging supply worries.

Yen rises, risk aversion overshadows Japan election

The yen hit a three-month high against the euro in early trade on Monday as the sell-off in global equity and credit markets prompted investors to cut back on risky positions such as carry trades.

Interview: David Ruch, United Airlines General Manager for Korea

As one of the largest international carriers, U.S.-based United Airlines marked a new beginning last year, emerging from bankruptcy protection which began in 2002. After enduring a painful restructuring, the airline is greeting a new era, approaching its passengers as a leaner, more cost-efficient company.

Data, earnings loom after painful week

Getting back on the bull will be no easy task next week, particularly after the meltdown stock investors endured over the past two days.

Friends in High Places

A web video startup by recent college grads is getting backing from Apple and Clear Channel founders.

A Cozy Relationship

Beneath the surface, CEOs and their ties with analysts who cover their companies can run deep.

Cheadle uses fame to promote social causes

Fame can be used to 'take the focus, when it's put on you, and throw it onto other things,' he says.

Stocks drop more than 1 percent on credit concerns

U.S. stocks plunged for a second day on Friday, in the worst week for the S&P 500 in nearly five years, as tightening credit conditions led to concerns that takeovers would slow. Losses accelerated in the final minutes of trading, taking the Dow industrials down more than 200 points, a day after an equities sell-off that wiped out more than $300 billion in the value off the S&P 500.

Ford shares up on forecasts for faster turnaround

Shares of Ford Motor Co. on Friday gained nearly 2 percent after the struggling automaker posted a surprise second-quarter profit, prompting Wall Street analysts to forecast a faster turnaround and a narrower loss for the year.

Qwest ex-CEO gets 6 yrs prison for insider trading

The former chief executive of Qwest Communications International, Joseph Nacchio, was sentenced on Friday to six years in prison and ordered to forfeit $52 million in stock gains from insider trading.

Sony 1Q profit more than triples

Sony Corp. said its first-quarter profit more than tripled, beating expectations, after strong contributions from digital camera sales and a softer yen far outweighed losses on the slow selling PlayStation 3 game console.

PIMCO'S Gross says stocks are appropriately valued

Stocks and high-yield corporate bonds are back to appropriate levels, the world's biggest bond fund manager said on Friday, a day after fears of spreading problems in the housing market triggered a rout in global stock and credit markets.

Chevron profit up with refining, beats view

Chevron Corp posted a better-than-expected 24 percent rise in quarterly earnings on Friday on higher profits from its refineries and a gain from the sale of its stake in power company Dynegy Inc. Net income in the second quarter increased to $5.38 billion, or $2.52 a share, from $4.35 billion, or $1.97 a share, last year.

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