Internet looms in new Hollywood contract talks
With Hollywood bracing for a season of possible labor strife, screenwriters and studio executives on Monday opened contract talks expected to hinge in part on how the Internet has altered show business.
Pfizer profit falls short, Lipitor disappoints
Pfizer Inc. on Wednesday reported lower-than-expected quarterly earnings on competition with generics, and said global sales of cholesterol fighter Lipitor fell 13 percent amid slipping demand for the company's flagship product.
June housing starts up 2.3 pct, permits plummet
The pace of home construction rose 2.3 percent in June but building permit activity, a sign of future construction plans, sank to its lowest rate in 10 years, signaling further weakness in the listless housing market.
Consumer prices edge up on food costs
Consumer prices rose by a slightly bigger-than-expected 0.2 percent in June on higher food costs and they were up by the same amount after stripping out volatile food and energy prices, the Labor Department reported on Wednesday.
For green shoppers, wine in bags, boxes
Set the dining table, light some candles and crack open a nice bag of wine.
Delta Air's earnings ballooned by items
Delta Air Lines Inc., which emerged from bankruptcy at the end of April, said on Wednesday that quarterly earnings surged on one-time reorganization items.
Dollar up after U.S. housing starts exceed forecast
The dollar rose to session highs against the euro and yen on Wednesday after news that June housing starts were slightly higher than expected, a small sign the sector may be improving prospects for the economy.
Oil steady below $76
Oil steadied below $76 a barrel on Wednesday after two days of losses, as investors awaited weekly U.S. inventory data expected to show refineries running harder to churn out more gasoline.
RIM launches dual-mode cellular, Wi-Fi BlackBerry
BlackBerry maker Research In Motion Ltd. announced a new model of its ubiquitous smartphone on Tuesday, this one able to operate on both cellular and Wi-Fi networks.
Investors upbeat on economy, stock prices: poll
U.S. investors remain confident in the health of the economy and most expect the U.S. stock market to hold near its recent record levels or extend them modestly, according to a Reuters/Zogby poll released on Wednesday.
JPMorgan profits hurt by home equity loans
JPMorgan Chase & Co. said on Wednesday it tripled the amount it set aside for loan losses as home equity borrowers missed payments, hurting the bank's second-quarter net income growth.
Hackers steal U.S. government, corporate data from PCs
Hackers stole information from the U.S. Department of Transportation and several U.S. companies by seducing employees with fake job-listings on advertisements and e-mail, a computer security firm said.
Around 200 feared dead in Brazil air disaster
A Brazilian airliner crashed and exploded in flames on Tuesday at Brazil's busiest airport, and around 200 people were feared dead in the country's second major air disaster in less than a year.
Canada inflation still above central bank target
Canadian inflation numbers came in lower than expected in June, but stayed above the Bank of Canada's 2 percent target, adding weight to the view that the bank will hike interest rates at least one more time.
Altria profit falls on charge, Kraft spinoff
Altria Group Inc. posted lower quarterly profit on Wednesday, due in part to costs for closing a U.S. cigarette plant as it moves some production to Europe to cut costs and reduce excess capacity.
Mortgage applications climbed last week: MBA
Mortgage applications rose slightly last week as a jump in refinancing demand overshadowed a drop in demand for loans to buy houses, an industry group said on Wednesday.
FACTBOX - Why oil prices are near a record high
Crude oil prices are trading near $76 a barrel and topped $78 on Monday, within sight of the record high hit in August 2006 of $78.65.
Yields edge lower on subprime and stocks concern
Treasury bond yields edged lower in Europe on Wednesday after Bear Stearns told investors two of its hedge funds had very little value, and stocks were hit by weaker-than expected company earnings.
Yahoo shares drop on lower profit, weak outlook
Shares of Internet portal Yahoo, Inc. fell more than 4 percent on Wednesday after the internet search giant posted a lower quarterly profit and gave a weaker-than expected forecast for the full fiscal year.
Intel profit higher in 2Q;shares fall on lower margins
Following a number of reorganizational moves and company layoffs in 2006, Intel Corp. rebounded in its most recent quarter as profit jumped from the previous year but shares fell on lower margins.
Bernanke: Inflation main worry, housing a risk
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday housing market woes could dampen an expected pickup in U.S. economic growth, but he restated that the central bank's main worry is inflation.
Dow Jones board endorses $5 bln News Corp. bid
The board of Dow Jones & Co. Inc. endorsed on Tuesday a $5 billion buyout offer from Rupert Murdoch's News Corp., sending the deal to the controlling Bancroft family for final approval.
Whole Foods CEO sorry for anonymous Web posts
The chief executive of Whole Foods Market Inc. apologized to shareholders on Tuesday for anonymously posting comments about his company on the Internet as the organic and natural foods grocer said the U.S. Securities and Exchange Commission had launched a probe into the matter.
China warns against illegal surveys by foreigners
China's state-controlled media have warned citizens to raise their awareness and prevent leakage of state secrets, charging that illegal surveys by foreigners in the country were on the rise and threatening national security.
Dow ends at record on profits; Intel, Yahoo drop late
The Dow closed at a record on Tuesday, though retreating from the 14,000 mark it earlier crossed for the first time, while the Nasdaq rose to a six-and-a-half-year high on a cascade of stronger-than-expected earnings.
Videocon aims big, eyes US foray
Indian consumer goods major Videocon has set its sight on entering the US market in a couple of years, with a possible Nasaq listing, the company’s chairman said.
Credit Suisse to buy stake in Park Hotels chain
Credit Suisse is buying up to 15 percent in Park Hotels in a deal worth up to $55 million, according to reports.
Reliance expands into U.S. with $300M Yipes purchase
Anil Ambani's Reliance Communications, India's second-biggest mobile services provider, said on Monday it was acquiring US-based Ethernet services provider Yipes Enterprise Services Inc. for $300 million in an all-cash deal that would help Ambani gain a foothold in the US market and scale up its optic fiber network.
Coca-Cola posts better-than-expected profit
Coca-Cola Co. posted higher-than-expected quarterly profit on Tuesday, helped by strength in its developing China and India markets, and moderate gains in mature markets such as Germany and Japan.
Weak J&J forecast sours strong quarterly results
Johnson & Johnson on Tuesday stuck with its 2007 earnings forecast despite surprisingly strong second-quarter results, sending shares down more than 1.7 percent.