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Burger King limits sodium in kids meals
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11.19.2008 : 6:57 am
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NEW YORK -- Burger King Corp. said Wednesday it is cutting the amount of sodium in its kids meals and promoting menu combinations with less than 650 calories as part of a push to emphasize nutrition at its fast-food chains.
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Disney to release 5 films on IMAX
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11.19.2008 : 6:57 am
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LOS ANGELES -- The Walt Disney Co. said Wednesday it agreed to deliver five movies via IMAX theaters beginning with the 3-D movie "A Christmas Carol," starring Jim Carrey, in November 2009.
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Woolworths plunges on news it may sell stores
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11.19.2008 : 6:54 am
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LONDON -- Woolworths Group PLC's shares plunged 32 percent Wednesday after the company confirmed it is considering selling its retail business. "The board can confirm that it is in preliminary discussions regarding a possible offer for the retail business," the company, hit hard by a slowdown in consumer spending from the economic downturn, said in a statement.
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FDA opens new China office
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11.19.2008 : 6:53 am
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BEIJING -- The U.S. Food and Drug Administration opened an office Wednesday in China's capital -- its first outside the United States -- as part of a new global strategy to ensure the safety of trillions of dollars of imports.
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EU official: Help justified for Opel, industry
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11.19.2008 : 6:52 am
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STRASBOURG, France -- The European Union's industry chief said Wednesday that "extraordinary measures" are justified to keep car maker Adam Opel GmbH in business and shore up the entire car industry, blaming problems on U.S. car companies and the U.S.-spawned financial crisis.
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SolarWorld offers euro1B for Adam Opel's assets
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11.19.2008 : 6:52 am
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BERLIN -- German solar energy company SolarWorld AG said Wednesday it plans to offer euro1 billion for some assets of car maker Adam Opel GmbH, the German subsidiary of General Motors Corp., through cash and credit.
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Fiat CEO warns against aid to US carmakers
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11.19.2008 : 6:49 am
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MILAN, Italy -- Fiat Group SpA CEO Sergio Marchionne on Wednesday warned that a bailout of the big three carmakers in the U.S. would distort competition across the ailing auto industry.
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Toyota to reduce output, temporary workers in US
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11.19.2008 : 6:49 am
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TOKYO -- Toyota Motor Corp. said Wednesday it will reduce production in the United States to cope with slowing sales in the world's largest economy.
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Get your glasses: 3D poised to take over movies
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11.19.2008 : 6:46 am
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SINGAPORE -- If Dreamworks Chief Executive Jeffrey Katzenberg is right, you'll soon be out shopping for the latest in designer glasses. 3D glasses that is.
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Oil prices fall below $54 a barrel
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11.19.2008 : 6:38 am
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VIENNA, Austria -- Oil prices slipped further Wednesday, dipping below $54 on fears of global economic weakness that have sent crude down more than 60 percent in four months.
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Lloyds shareholders to vote on HBOS deal
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11.19.2008 : 6:36 am
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LONDON -- Union members and the public protested outside a meeting on Wednesday where shareholders of Lloyds Group TSB are due to vote on the government-brokered takeover of rival HBOS PLC.
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HK stock index down nearly 1 percent
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11.19.2008 : 6:32 am
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HONG KONG -- Hong Kong shares edged lower in lethargic trade Wednesday as investors sold banks and developers. The blue-chip Hang Seng Index fell 100.09 points, or 0.8 percent, to 12,815.80.
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China stocks rebound despite regional losses
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11.19.2008 : 6:21 am
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SHANGHAI, China -- Chinese shares shrugged off losses elsewhere in Asia to rise Wednesday on a rally in refiners and renewed enthusiasm about a government stimulus package.
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Big Three automakers running out of time
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11.19.2008 : 6:20 am
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WASHINGTON -- Detroit's Big Three automakers are running out of time in their quest to convince skeptical lawmakers that Congress should throw them a $25 billion lifeline.
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About 300 cabbies go on strike in southwest China
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11.19.2008 : 6:04 am
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BEIJING -- A few hundred taxi drivers went on strike Wednesday in a southwestern Chinese district to protest a proposed increase in the number of cabs operating there, state media reported.
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Italy's government weighs Alitalia offer
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11.19.2008 : 6:03 am
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MILAN, Italy -- The deal to relaunch Alitalia as a leaner, more efficient carrier entered a final stage with the delivery Wednesday of the formal offer from a group of Italian investors to the bankrupt airline's administrator.
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Chinese automakers, hit by slowdown, ask for help
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11.19.2008 : 6:02 am
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SHANGHAI, China -- While U.S. automakers plead for emergency loans from Washington, China's still-young car manufacturers are also appealing for their government's help amid a sales slump.
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Minister: vast reserves protect Russian economy
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11.19.2008 : 5:56 am
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MOSCOW -- Russia's finance minister sought Wednesday to reassure investors and citizens that the economy will survive the global financial turmoil, thanks to ample gold and currency reserves.
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Philippine Airlines reports $114M loss in 1st half
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11.19.2008 : 5:54 am
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MANILA, Philippines -- The national carrier Philippine Airlines said Wednesday an unprecedented surge in fuel prices left it with a loss of $113.8 million during the fiscal first-half.
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Banks weigh on European stocks again
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11.19.2008 : 5:53 am
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LONDON -- European stock markets headed lower Wednesday following losses in Asia, with worries about a global downturn weighing on banking and commodity stocks.
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US dollar mixed, gold down in Europe
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11.19.2008 : 5:50 am
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LONDON -- The U.S. dollar was mixed against other major currencies in European trading Wednesday morning. Gold fell. The euro traded at $1.2619, up from $1.2579 late Tuesday in New York.
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Wynn supports government travel measures in Macau
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11.19.2008 : 5:25 am
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HONG KONG -- Casino mogul Steve Wynn said Wednesday he couldn't tell when Macau's slowdown might let up, but expressed confidence in its long-term fortunes and backed government measures to curb travel to the Chinese gambling city.
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Bank of England voted 9-0 to cut interest rate
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11.19.2008 : 5:19 am
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LONDON -- The Bank of England said Wednesday its interest rate setting committee had voted unanimously to cut its benchmark rate to a 53-year low of 3 percent earlier this month.
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Cambodia urges unity among poor nations on trade
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11.19.2008 : 4:56 am
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PHNOM PENH, Cambodia -- Cambodian Prime Minister Hun Sen said Wednesday poor countries like his must continue speaking with one voice in the Doha round of global trade talks to ensure their competitiveness with developed countries.
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Somali pirates hijack Thai fishing boat, 16 crew
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11.19.2008 : 4:56 am
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NEW DELHI -- Separate bands of pirates hijacked two ships and captured their crews, while yet another opened fire on an Indian navy ship before being driven off -- clear signs that the brigands roaming the Gulf of Aden are becoming bolder and more violent, officials said Wednesday.
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IMF: Kazakh economy on the right path
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11.19.2008 : 4:52 am
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ALMATY, Kazakhstan -- A senior International Monetary Fund official has praised Kazakhstan, an early victim of the global credit crunch, for its handling of the crisis.
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Ford hopes to regain car traction with new Fusion
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11.19.2008 : 4:12 am
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DETROIT -- While two of the Detroit Three have no new models to unveil at this year's Los Angeles Auto Show, Ford Motor Co. stayed in and will show off a revamped midsize car that is an example of how serious it is about gas mileage and about clawing its way back into the car business.
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UK credit agency Experian 1H profit rises 15 pct
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11.19.2008 : 3:31 am
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LONDON -- British credit agency Experian PLC said Wednesday its net profit rose 15 percent in the first half on strong growth in Latin America and a successful cost savings program.
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Nomura CEO seeks change with Lehman buy
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11.19.2008 : 3:30 am
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TOKYO -- The head of Nomura Holdings Inc., Japan's biggest brokerage, said Wednesday that while the immediate liquidity crisis may be receding, global leaders must now find ways to bolster their faltering economies.
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Mazda buys back chunk of own shares from Ford
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11.19.2008 : 3:22 am
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TOKYO -- Mazda spent 17.8 billion yen ($184 million) to buy back 6.8 percent of its own shares from cash-hungry Ford Motor Co., the Japanese automaker said Wednesday. Several other companies bought smaller stakes.
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Drought hurts US dry pea and lentil production
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11.19.2008 : 3:18 am
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BISMARCK, N.D. -- Eastern Montana dry pea and lentil farmer Jim Squires retired this year, then watched as crops on his rented-out land withered in dry weather.
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Euro rises against dollar to $1.2627
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11.19.2008 : 3:17 am
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BERLIN, -- The euro rose against the dollar Wednesday after the U.S. posted a sharp fall in producer prices. The 15-nation euro traded at $1.2627 in early European trading, up from $1.2579 late Tuesday in New York.
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Barclays' investors buy entire stock offering
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11.19.2008 : 3:09 am
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LONDON -- Barclays PLC said Wednesday that institutional investors had bought all the 500 million pounds ($750 million) of preferred stock offered to them on Tuesday.
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Japan stocks fall on grim bank earnings, auto woes
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11.19.2008 : 2:42 am
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TOKYO -- Japanese stocks fell Wednesday as grim earnings from the country's biggest bank and doubts about the fate of a U.S. government lifeline for ailing automakers underlined a gloomy outlook for world growth and corporate earnings.
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Singapore shipper Neptune Orient to cut 1,000 jobs
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11.19.2008 : 1:43 am
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SINGAPORE -- Singapore's Neptune Orient Lines Ltd., Southeast Asia's largest container shipper, said it will cut 1,000 jobs to help save $200 million next year as a global slowdown in trade accelerates.
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Consumers may get ray of good news: lower prices
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11.19.2008 : 12:33 am
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WASHINGTON -- American consumers hit by a seemingly endless stream of bad news, from vanishing jobs to shrinking retirement accounts, may be in for a small dose of relief: lower prices at stores.
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Australia may be nearing recession, index shows
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11.18.2008 : 10:58 pm
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SYDNEY, Australia -- The outlook for Australia's economy is its weakest in 20 years, raising the risk of a recession in 2009, according to an index of economic trends.
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Chinese president builds economic ties with Cuba
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11.18.2008 : 10:30 pm
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HAVANA -- China's president signed trade deals with communist ally Cuba and agreed to help it modernize its ports and hospitals on Tuesday, part of a Latin America trip on which Chinese businessmen have been snapping up raw materials.
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US forsees resususcitation of Doha round at APEC
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11.18.2008 : 9:18 pm
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LIMA, Peru -- Leaders from 21 Pacific Rim nations plan to issue a joint declaration during a summit this week promising to reactivate the stalled Doha round of world trade talks, a U.S. official said Tuesday.
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BofA CEO: There are '1 too many' Detroit 3 members
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11.18.2008 : 7:33 pm
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DETROIT -- The chief executive of a major U.S. bank that received $25 billion from the government's financial bailout package said Tuesday that federal aid shouldn't be dispensed to the ailing Detroit Three automakers -- unless they become the Detroit Two.
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Ecuador plans import controls amid world crisis
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11.18.2008 : 7:24 pm
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QUITO, Ecuador -- Ecuador's leftist president announced a raft of import restrictions Tuesday designed to safeguard the economy as oil prices plunge, while foreign investors awaited his decision on whether he would halt debt payments.
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Medtronic 2Q profit sinks on hefty legal charge
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11.18.2008 : 7:21 pm
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WASHINGTON -- Medtronic Inc., the world's largest medical device maker, said Tuesday that legal expenses and declining foreign exchange rates weighed down its fiscal 2009 second-quarter profit.
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Saks posts bigger-than-expected 3Q loss
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11.18.2008 : 7:16 pm
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NEW YORK -- Saks Inc. reported a wider-than-expected loss for the third quarter Tuesday, as the company resorted to deep discounts in an attempt to pull in affluent customers spooked by massive job losses on Wall Street and shrinking stock portfolios.
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HP shares soar after solid 4Q outlook
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11.18.2008 : 7:11 pm
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NEW YORK -- Hewlett-Packard Co. surprised Wall Street on Tuesday by saying its earnings will be slightly above analysts' expectations, going against the grain as other technology bellwethers have slashed forecasts and posted weak results in the sagging economy.
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Bankruptcy sale of Boscov's chain nears completion
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11.18.2008 : 6:55 pm
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WILMINGTON, Del. -- The bankruptcy sale of regional department store chain Boscov's to two former executives moved a step closer to fruition following a court hearing on Tuesday
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Southern lawmakers sour on Detroit bailout
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11.18.2008 : 6:22 pm
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WASHINGTON -- If it's no surprise that Michigan lawmakers are behind the pitch for a $25 billion lifeline for Detroit automakers, then it might be just as predictable that Southerners would be leading the charge against it.
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CEOs want at least $300B stimulus from Obama
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11.18.2008 : 6:18 pm
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WASHINGTON -- A group of business executives on Tuesday urged President-elect Barack Obama to "quickly implement" a large stimulus package soon after taking office.
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Zigzagging on bailout rattles markets, critics say
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11.18.2008 : 6:14 pm
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WASHINGTON -- Financial markets hate uncertainty, but that's what they're getting from Washington. The Treasury Department's frequent, scattershot revisions to the $700 billion financial bailout have badly shaken investor confidence, and experts say the confusion could delay the lending revival necessary for an economic recovery.
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Colombia: Report money companies tied to drugs
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11.18.2008 : 6:10 pm
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BOGOTA, Colombia -- President Alvaro Uribe says there is evidence that drug traffickers were linked to a company seized by the government during a nationwide panic over hundreds of millions of dollars in lost investments, congressmen said Tuesday.
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NY's Cuomo asks AIG to detail plans for exec pay
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11.18.2008 : 5:53 pm
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NEW YORK -- New York Attorney General Andrew Cuomo on Tuesday asked troubled insurance giant American International Group to reveal whether it intends to give bonuses or raises to its executives this year.
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Steps proposed to ease air travel congestion
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11.18.2008 : 5:45 pm
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WASHINGTON -- The government is opening some military airspace to ease airline congestion over Thanksgiving and Christmas, though the effort is likely to have only limited results. And if the weather's bad, all bets are off.
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Treasury bonds advance amid economic uncertainty
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11.18.2008 : 5:30 pm
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NEW YORK -- Treasury bonds advanced Tuesday after a government report showed that wholesale prices plunged a record amount in October, a drop that could indicate a rising threat of deflation.
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Ixnay on vaccinations, Thanksgiving, tech at work
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11.18.2008 : 5:21 pm
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I'D RATHER BE SICK: Despite recommendations from the government and doctors, only 52 percent of U.S. adults said they planned on getting vaccinated for the flu this year, according to a Consumer Reports survey. Among the excuses: 27 percent said they disliked shots -- even though a nasal spray is available -- and 5 percent said they would rather get sick than go to work.
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How home improvement chains fared in 3rd quarter
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11.18.2008 : 5:08 pm
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The Home Depot Inc. and its competitor Lowe's Cos. Inc. both reported better-than-expected third quarter results this week. Here's a summary of how the nation's two largest home improvement chains performed.
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SEC accuses 4 of inflating bank's portfolio
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11.18.2008 : 5:02 pm
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WASHINGTON -- Federal regulators on Tuesday accused four people of inflating the value of Bank of Montreal's trading portfolio to falsely enhance its financial results. One of the four pleaded guilty to related criminal charges and agreed to a civil settlement with the Securities and Exchange Commission.
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Corning lowers 4Q profit outlook
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11.18.2008 : 5:00 pm
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ROCHESTER, N.Y. -- Shares of Corning Inc. tumbled 7 percent Tuesday after the specialty glass maker lowered its fourth-quarter sales and profit guidance to reflect slumping demand for glass used in flat-screen televisions and computers.
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Meltdown 101: What's deflation, and why is it bad?
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11.18.2008 : 4:58 pm
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NEW YORK -- Deflation might sound like a good thing. Yet it can be even rougher on the economy than the more familiar phenomenon of inflation, because it's harder to get rid of.
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APEC economist: India and China key
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11.18.2008 : 4:46 pm
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LIMA, Peru -- India and China's ability to resist the global economic slowdown will greatly influence whether the crisis drags the world into a depression, a top Pacific Rim trade community economist said Tuesday.
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Home Depot 3Q profit falls 31 percent
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11.18.2008 : 4:39 pm
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CHICAGO -- Home Depot Inc. gave investors a welcome surprise Tuesday, posting a better-than-expected third-quarter profit and offering Wall Street a second straight day of good news for the battered home improvement sector.
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Summary Box: Momentum builds for oil buying spree
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11.18.2008 : 4:14 pm
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WHAT'S HAPPENING: The oil sector appears ripe for some consolidation in 2009, particularly deals involving the cash-rich oil giants and struggling smaller producers.
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More consolidation likely in oil industry
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11.18.2008 : 4:12 pm
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HOUSTON -- Big Oil is set to spend billions on new exploration in 2009, but in addition to ocean beds thousands of feet below the water's surface, major producers are surveying the balance sheets of vulnerable companies in the sector.
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Study puts a total on diabetes cost: $218 billion
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11.18.2008 : 4:08 pm
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TRENTON, N.J. -- As diabetes is rapidly becoming one of the world's most common diseases, its financial cost is mounting, too, to well over $200 billion a year in the U.S. alone, according to a new study.
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Wholesale prices plunge, easing inflation concerns
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11.18.2008 : 3:59 pm
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WASHINGTON -- Wholesale prices in October experienced the biggest one-month drop on records that go back more than 60 years, illustrating the impact falling energy prices and fears of a prolonged recession can have on inflation.
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Big shareholder sees opportunity in Circuit City
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11.18.2008 : 3:37 pm
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RICHMOND, Va. -- A Mexican billionaire who owns a large stake in Circuit City Stores Inc. believes there's great market opportunity in the company, even though it is under bankruptcy protection, a spokesman said Tuesday.
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Online sales growth in October slowest on record
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11.18.2008 : 3:36 pm
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NEW YORK -- Online spending for October grew at the slowest pace since at least 2001, an Internet research company said Tuesday -- the latest evidence that Web shopping is being dragged down by the deteriorating economy.
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GE, Mayo Clinic, others develop health record tech
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11.18.2008 : 3:30 pm
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NEW YORK -- Industrial powerhouse General Electric Co. hopes a push into medical electronic records and information with some of the top health care institutions in the nation will put it at the front of what is expected to be a rapidly growing market.
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Medicare prescriptions and the doughnut hole
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11.18.2008 : 3:24 pm
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Facts about Medicare Part D prescription coverage: -- Under Medicare Part D, elderly and disabled Medicare benficiaries can enroll in a private drug plan that is largely subsidized by the federal government. Before the benefit began in 2006, that drug coverage was available only though private supplemental plans.
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Trek introduces chainless bicycles
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11.18.2008 : 2:38 pm
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RICHMOND, Va. -- Pedalers of the world, unite! You have nothing to lose but your chains. If you've ever been riding down the street and had your pants cuff ripped asunder, there may be a revolution at hand.
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