Latest headlines in Business News
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Exclusive: American Apparel in talks with restructuring firm(Reuters) (Yahoo Business 2010-09-04 01:38:15)
Reuters - Hipster brand American Apparel Inc is in talks to bring in an outside restructuring firm as the manufacturer and retailer struggles to fix its flagging operations, sources told Reuters on Friday.
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Taxpayers likely to face initial loss on GM IPO: sources(Reuters) (Yahoo Business 2010-09-03 23:33:47)
Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.
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What now for Gulf? Fire complicates drill debate(AP) (Yahoo Business 2010-09-03 23:26:47)
AP - What now for the Gulf? News of another oil rig fire in the Gulf of Mexico, so soon after the BP oil spill, has set off a wave of anxiety along the Gulf Coast and prompted calls for the government to extend its six-month ban on deepwater drilling.
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Obama to address new economic ideas next Wednesday(Reuters) (Yahoo Business 2010-09-03 22:14:13)
Reuters - President Barack Obama said on Friday he would outline new measures next week to boost the U.S. economy, but analysts were skeptical he would be able to deliver a big enough package to lift growth significantly.
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China tells state companies to explore Potash bid(Reuters) (Yahoo Business 2010-09-03 21:10:40)
Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.
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Petrobras sells 64 bln dlrs of stock to fund oil exploration(AFP) (Yahoo Business 2010-09-03 20:57:08)
AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.
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GM to unveil Cruze compact sedans(AP) (Yahoo Business 2010-09-03 20:45:32)
AP - General Motors said Friday that it will launch its Chevrolet Cruze compact sedan next week at the Ohio factory that makes the car.
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Stocks rally as jobs data spurs optimism(Reuters) (Yahoo Business 2010-09-03 20:43:39)
Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.
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BP: Failed blowout preventer removed from well(AP) (Yahoo Business 2010-09-03 19:57:19)
AP - BP PLC said the blowout preventer that failed to stop oil from spewing into the Gulf of Mexico was removed from the company's well on Friday afternoon.
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Stocks set for best week in six as fear eases(Reuters) (Yahoo Business 2010-09-03 19:42:29)
Reuters - Wall Street was set to close its best week in six on Friday after economic data, including a stronger-than-expected labor market report, helped soothe fears the economy could fall back into recession.
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MGIC added $1.2B in mortgage coverage in August(AP) (Yahoo Business 2010-09-03 18:50:41)
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
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Spending cuts before 2011 could hurt recovery: IMF, ILO(AFP) (Yahoo Business 2010-09-03 17:53:04)
AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.
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Payrolls data offer ray of hope for recovery(Reuters) (Yahoo Business 2010-09-03 17:44:13)
Reuters - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.
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Stranded actor Paul Hogan in Australia tax deal(Reuters) (Yahoo Business 2010-09-03 17:31:16)
Reuters - Actor Paul Hogan, star of the "Crocodile Dundee" movies, has struck a deal with Australia's tax office which will allow him to return home to his family in Los Angeles, his lawyer said on Friday.
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Texas firm temporarily plugs leaking ND oil well(AP) (Yahoo Business 2010-09-03 17:29:09)
AP - A ruptured oil well in western North Dakota was temporarily plugged on Friday after leaking more than 2,400 barrels of crude and water, company officials said.
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Wall Street set for bumper week as economy fears ease(Reuters) (Yahoo Business 2010-09-03 17:23:55)
Reuters - Wall Street was set to close out its best week in six on Friday after recent economic data, including a stronger-than-expected jobs report, showed the U.S. economy may be in better shape than thought.
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Mo. drops appeal of real estate ballot measure(AP) (Yahoo Business 2010-09-03 16:47:03)
AP - An initiative barring taxes on home and land sales is clear to appear on Missouri's ballot after the state dropped an appeal Friday of a judge's decision ordering the election.
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Court reinstates markup law for Wisconsin gasoline(AP) (Yahoo Business 2010-09-03 16:39:27)
AP - A federal appeals court on Friday reinstated Wisconsin's 71-year-old minimum markup law on gasoline, a decision that could limit competition among retailers and drive up gas prices.
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Walgreen August same-store sales rise 2.1 percent(AP) (Yahoo Business 2010-09-03 16:33:28)
AP - Walgreen Co. reported same-store-sales rose 2.1 percent for August on Friday, just shy of Wall Street estimates.
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Summary Box: Campbell Soup 4th-qtr results(AP) (Yahoo Business 2010-09-03 15:56:41)
AP - SALES DOWN, PROFIT UP: The Campbell Soup Co. said Friday that its adjusted fourth-quarter profit was up 7 percent, even though its sales were down 1 percent.