Ford to revamp plants, bring small cars DETROIT (AP) -- Ford Motor Co. plans to bring six small vehicles to the U.S. market from overseas to meet growing demand for more fuel-efficient options....Visit Associated Press Website
JetBlue Plans Cuts in Seat Capacity, Jobs After $7 Million Loss July 22 (Bloomberg) -- JetBlue Airways Corp. plans to reduce seating by as much as 9 percent in the fourth quarter and cut an unspecified number of jobs to counter record fuel prices after the discount carrier posted a $7 million quarterly lossVisit Bloomberg Website
Oil tumbles again; prices fall over $10 in 2 days NEW YORK - Oil prices settled sharply lower for the second time in a row Wednesday, leaving crude more than $10 cheaper in just two days of frenzied trading and prompting speculation that the hard-charging market may be running out of steam....Visit Associated Press Website
Stocks soar on drop in oil, Wells Fargo report NEW YORK - Wall Street at least temporarily shrugged off some of its many concerns Wednesday and bounded higher thanks to a drop in oil prices. The Dow Jones industrial average rose 276 points, or 2.5 percent, posting its best daily gain in three months...Visit Associated Press Website
U.S. Weighs Takeover of Two Mortgage Giants WASHINGTON — Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday.Visit New York Times Website
Anheuser-Busch Rejects InBev Proposal as Financially Inadequate, Not in Best Interests of Shareholders Anheuser-Busch Cos. Inc., a leading global brewer, today announced that its board of directors has unanimously determined that the unsolicited, non-binding proposal by InBev (Euronext: INB) to acquire all outstanding shares of Anheuser-Busch for $65 per share is financially inadequate and not in the best interests of Anheuser Busch shareholders.
Winnebago profit skids 73 pct in 3Q DES MOINES, Iowa (AP) -- Winnebago Industries Inc. said Friday its third quarter profit skidded 73 percent as high gas prices, tighter credit and a soft economy drive motor homes sales lower industry wide....Visit Associated Press Website
Credit Squeezes Tropicana in Las Vegas Where Elvis Can't Help June 16 - Outside the Tropicana Resort & Casino in Las Vegas, doorman Steve Wagner asks guests if they enjoyed their stay. Half complain, he says, citing everything from dirty rooms to insects. Visit Bloomberg Website
Microsoft Issues Statement Regarding Yahoo! “As stated on May 3rd and reiterated on May 18th Microsoft was not interested in rebidding for all of Yahoo!. Our alternative transaction remains available for discussion.”
AUDI AG: On track for record sales of one million cars in 2008 AUDI AG sold more than 426,200 vehicles worldwide from January to May, an increase of 1.5 percent. In the month of May, Audi increased sales to 88,200 vehicles, up an additional 0.8 percent versus the strong prior-year month. The strongest growth drivers were once again the Asia/Pacific and Eastern Europe regions.
GM to close 4 truck, SUV plants, focus on getting smaller WILMINGTON, Del. - General Motors Corp. officially blew up its old business model Tuesday, closing four pickup truck and sport utility vehicle factories, announcing a new small car that could get 45 miles per gallon and shedding 10,000 jobs in the process.... Visit Associated Press Website
Tiffany reports 19 pct rise in 1st-quarter profit NEW YORK - Jewelry retailer Tiffany & Co. reported Friday that strong growth in the Asia-Pacific and European markets helped its first-quarter profits rise 19 percent but said that it doesn't expect an improvement in the U.S. until later this year....Visit Associated Press Website
Ford cuts N. American production, cuts profit goal DETROIT - Fast-rising gas prices claimed their latest victim Thursday: Ford Motor Co., which dropped its goal of becoming profitable by 2009 and said it will cut production of trucks and sport utility vehicles through the rest of this year....Visit Associated Press Website
Gap boosts 1Q profit on tight cost management SAN FRANCISCO - Gap Inc.'s sales are slumping and shoppers appear unlikely to spend more anytime soon, but the clothing retailer still boosted its first-quarter profit by 40 percent by managing inventory and cutting costs....Visit Associated Press Website
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