Business and Finance News

Stocks move up on another oil decline
St Petersburg News.Net
Stocks advanced for the second straight session Wednesday with another decline in oil prices and several upbeat profit reports on Wall Street.
T. Boone Pickens warns of $300 oil
St Petersburg News.Net
Billionaire oil investor T. Boone Pickens has told legislators that oil prices will hit US$300 a barrel in 10 years.
Bush raises eyebrows with stock market comment
St Petersburg News.Net
US President George Bush has made an unguarded comment at a Houston fundraiser.
New fees mean turnaround for airlines
St Petersburg News.Net
New travel fees have meant hundreds of millions of dollars a year for beleaguered airlines.
Italians lose confidence in economy
St Petersburg News.Net
Italian consumer confidence has slumped in July to the lowest level since the 1993 recession.
Lufthansa pilots on pay strike
St Petersburg News.Net
Lufthansa has been forced to cancel nearly 1,000 flights in Germany because of an unannounced strike by pilots.
Wachovia takes big hit on the market
St Petersburg News.Net
US banking giant Wachovia has announced a quarterly loss of US$8.662 billion.
Small town hit by housing crisis
St Petersburg News.Net
The mortgage crisis has hit the small town of Vallejo, near San Francisco.
UK chains drop fuel prices
St Petersburg News.Net
A number of UK national supermarket chains and an oil company have said they will cut the price of fuel.
UnitedHealth Beats Wall St. Expectations
Gadsden Times
The UnitedHealth Group beat Wall Street expectations on Tuesday, and its shares rose despite a sharp drop in second-quarter profit. Shares of the health insurer and managed-care provider...
Strong rise in UK banking shares
BBC
Shares in some of the UK's leading banks have risen strongly on the back of takeover rumours and hopes of a recovery in the financial sector. HBOS, the UK's biggest mortgage lender, jumped 10% on...
Amazon earnings double on strong sales growth
Market Watch
Amazon.com Inc. said Wednesday that earnings for the second quarter more than doubled thanks to a strong growth in sales. For the second quarter ended the...
Wall St little changed; financials rally fizzles
Earth Times
Stocks were little changed on Wednesday after a rally in financial stocks ran out of steam while technology shares pared early gains.Home finance stocks Freddie...
Microsoft Mum On
TechWeb
The Windows-compatible platform can be seen as Microsoft's counterpart Amazon's Elastic Cloud Computing service, known as EC2, and to the Google App Engine.
Microsoft Drops Player Fees On Games For Windows Live
TechWeb
Windows Live online service. Games For Windows Live is "now offering completely free online multiplayer" service, Microsoft said in a statement posted on the service's Web site. The company...
S&P lowers outlook on American Express to negative
Market Watch
... to negative from stable. "Although the current rating allows for some variance in financial performance within a credit cycle, the negative outlook reflects the possibility that operating stress...
STMicroelectronics jumps after solid 2Q results
CNBC
All Associated Press news U.S.-traded shares of STMicroelectronics NV jumped Wednesday after the Switzerland-based chip maker posted a smaller second-quarter loss and, excluding...
Wall Street got drunk, says Bush
ABC Australia
US President George W Bush has an explanation for the housing market meltdown that has thrown the global economy into turmoil: Wall Street got drunk. "There's no question about it. Wall Street got...
Centene Shares Surge on Earnings Increase Boost
RedOrbit
The quarter also included $20.8 million of premium revenue and 28 cents a share of retroactive rate increases and adjustments in Georgia. Despite the quarter, Slusser said the company still has "work...
Beverly National Corporation Announces Increase in Net Income and...
CNBC
The Company reported net income for the quarter ended 2008 of $1,016,000 or basic and fully diluted earnings of $0.38 per share, compared to net income of $882,000, or basic and fully...
Oil extends slide as supplies more than expected
San Diego Union-Tribune
NEW YORK – Oil prices swayed between modest gains and declines Wednesday after dropping earlier when the government reported gasoline supplies rose far more than expected but crude inventories...
Ryanair price error
BBC
Budget airline Ryanair has said it will fix a fault on its website that means it is breaking rules on price clarity. At the moment, its website is breaking rules set by the Office of Fair Trading...
UK Banks Up Sharply On Wall St Gains, Hopes Of Recovery
Morning Star
BARC.LN and Royal Bank of Scotland PLC (RBS.LN) all up at least 10%, following early gains on Wall Street, merger speculation and early hopes that the worst could be over for the financial...

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