Worldwide Business News

Microsoft profit rises, outlook disappoints (Reuters)

Reuters - Microsoft Corp. posted a 16 percent rise in quarterly profit on Thursday but missed Wall Street expectations and set a disappointing profit target due to increased costs on products from Windows to the new Xbox 360 game console.

Bank of Japan Keeps 0 Percent Rate Policy (AP)
AP - Japan’s central bank decided kept its easy money policy in place Friday, cooling jitters about a possible interest rate hike in the face of fresh economic figures that show Japanese inflation is picking up.

Constellation Energy quarterly earnings fall (Reuters)

Reuters - Constellation Energy Group Inc. , which is being bought by rival FPL Group Inc. , on Friday posted lower first-quarter earnings as the effect of mild weather drove down results at its regulated utility.

Nasdaq falls 1 percent at open on Microsoft (Reuters)

Reuters - The Nasdaq Composite stock index fell 1 percent at the market opening on Friday after disappointing Microsoft Corp. results.

Coventry Health earnings rise (Reuters)
Reuters - Health insurer Coventry Health Care Inc. on Friday posted a rise in quarterly earnings as revenue from premiums increased.

Avon quarterly profit plunges due to restructuring (Reuters)

Reuters - Avon Products Inc. , the world's largest direct seller of cosmetics, on Friday said first-quarter profit fell 67 percent, weighed down by restructuring charges and stock option expensing.

S.Korea Retailer to Buy Carrefour Unit (AP)
AP - The South Korean retailer E.Land Group has agreed to buy the South Korean unit of French retailer Carrefour SA for 1.75 trillion won ($1.9 billion), the companies said Friday.

March Fund Inflow Jumps To $34 Bil (Investor’s Business Daily)
Investor’s Business Daily - Investors poured $34.04 billion into mutual funds in March, the biggest month for the industry since January 2004, when $42.981 billion in new money went into funds.

Fed might pause on rates: Bernanke (Reuters)

Reuters - Federal Reserve Chairman Ben Bernanke on Thursday said for the first time the central bank could at some point pause its 22-month interest-rate rising campaign to allow time to divine the economy's path.

Host’s Earnings Not So Inviting (The Motley Fool)
The Motley Fool - In the Wall Street world of “bigger is better,” Host Hotels & Resorts (NYSE: HST - News) is a brokerage-house favorite. With a nearly $8 billion market cap, the company formerly known as Host Marriott is by far the largest hotel real estate investment trust (REIT), and seventeen out of its 18 stock analysts recommend its shares. But after reviewing the company’s first-quarter earnings report, investors pursuing the hotel REIT space may be better served looking elsewhere.

Judge questions EU’s Microsoft case (Reuters)

Reuters - A European Union judge on Thursday challenged a landmark European Commission antitrust decision that software giant Microsoft abused its dominance by illegally muscling out rivals.

China raises lending rate to slow booming economy (Reuters)

Reuters - China took global markets by surprise on Thursday by raising interest rates for the first time in 18 months to slow a boom in credit and investment that risks destabilizing the world's fastest-growing major economy.

OfficeMax Sees $25 Million Quarterly Loss (AP)
AP - Office supplies retailer OfficeMax Inc. on Thursday posted a sharply wider first-quarter loss as costs from closing more than 100 stores weighed on its results.

Exxon posts another huge quarterly profit (Reuters)

Reuters - Exxon Mobil Corp. , the world's largest publicly traded oil company, posted its biggest first-quarter profit ever on Thursday, but higher taxes dragged the results below Wall Street forecasts.

Jobless claims rise 11,000 last week (Reuters)

Reuters - New claims for U.S. jobless aid rose by a larger-than-expected 11,000 last week, Labor Department data showed on Thursday, but remained at levels suggesting a healthy job market.

Stocks rise as Bernanke says Fed may pause (Reuters)

Reuters - U.S. stocks rose on Thursday as banks, utilities and other interest-rate sensitive shares advanced after Federal Reserve Chairman Ben Bernanke said the Fed may pause in its 22-month campaign of raising borrowing costs.

Stocks rise on earnings; rate worry eases (Reuters)

Reuters - U.S. stocks rose on Wednesday as higher quarterly profits from toothpaste maker Colgate-Palmolive Co. and other companies overshadowed fears of interest rate rises stirred by surprisingly strong economic data.

New Home Sales Rebound Strongly in March (AP)

AP - Sales of new homes soared in March by the largest amount in 13 years, reflecting a rebound from bad weather in February. But the median price of the homes sold last month actually declined, providing evidence that the nation's five-year housing boom is slowing.

Kimco’s Consistent Growth (The Motley Fool)
The Motley Fool - Certain companies can lull you to sleep with their predictability. After another strong quarter, Kimco Realty (NYSE: KIM - News) is heading into that territory. Let’s peek under the hood at what the company reported and discussed on its conference call, to see if the outlook for this well-managed REIT still looks solid.

March new home sales leap, but prices fall (Reuters)

Reuters - Sales of new U.S. homes rose a much larger-than-expected 13.8 percent in March, the biggest one-month gain since April 1993, but prices fell sharply, a government report showed on Wednesday.

Boeing profit rises on plane sales (Reuters)

Reuters - Boeing Co. said on Wednesday that first-quarter profit rose a greater-than-expected 29 percent, as sales of its commercial planes offset a drop in revenue at its defense unit.

March durables orders, new home sales surge (Reuters)

Reuters - New orders for U.S.-made durable goods and sales of new homes surged more than expected in March, reports showed on Wednesday, boosting anticipation the Federal Reserve will continue to raise interest rates.

Office Depot Shares Up on 1Q Profit Jump (AP)
AP - Shares of Office Depot Inc. rose Wednesday, a day after the nation’s second-biggest office-supplies retailer posted a 12 percent jump in first-quarter earnings as upbeat North American sales lifted results.

ConocoPhillips profit soars as oil prices surge (Reuters)

Reuters - ConocoPhillips , the No. 3 U.S. oil company, on Wednesday reported quarterly profit surged, as oil prices continued their march upward.

Stocks fall on rate worry, Amazon rises late (Reuters)

Reuters - U.S. stocks ended lower on Tuesday, buffeted by fears of rising interest rates, a sell-off in the energy sector, including Exxon Mobil Corp. , and a drop in the shares of heavy equipment maker Caterpillar Inc. .

Amazon.com 1Q Earnings Slide 35 Percent (AP)

AP - Amazon.com Inc. said Tuesday that earnings fell nearly 35 percent in the first quarter, compared to a period last year in which the online retailer had a big one-time gain.

Lay claims “witch hunt” brought Enron down (Reuters)

Reuters - Enron Corp. was a victim of a "witch hunt" that unfairly criticized the giant energy company's business and drove it toward bankruptcy, former Chairman and Chief Executive Kenneth Lay testified at his criminal trial on Tuesday.

Hasbro posts 1st-qtr loss, revenue rises (Reuters)

Reuters - Hasbro Inc. , the No. 2 U.S. toy company, on Monday said its quarterly loss narrowed as strong sales of its board games and products like Playskool, Littlest Pet Shop, Nerf and Transformers offset falling "Star Wars" toy sales.

Restructuring charges hit Kimberly-Clark profit (Reuters)

Reuters - Kimberly-Clark Corp. , which makes Kleenex tissues and Huggies diapers, on Monday said first-quarter net income fell nearly 39 percent due to restructuring charges and higher raw material and energy costs.

Interest rates kindle worry (USATODAY.com)
USATODAY.com - Automotive executives are worried that as interest rates climb, customers facing higher auto loan payments might consider putting off purchases. “Interest rates are something that people think about a lot,” Nissan’s Jed Connelly said during USA TODAY’s 2006 Automaker Roundtable.

IMF wins new powers to police global economy (Reuters)

Reuters - The International Monetary Fund won new powers to police the world economy after its 184 member countries endorsed a new framework to monitor how the economic policies of one country affects others.

Xerox quarterly profit dips (Reuters)

Reuters - Xerox Corp., one of the world's biggest makers of copiers and printers, on Monday said its quarterly profit missed Wall Street estimates, hurt by increased costs and a decline in sales of its most expensive black-and-white equipment.

Stocks slip as oil dip hurts energy sector (Reuters)
Reuters - U.S. stocks slipped on Monday as oil prices fell below $75 a barrel, hurting shares of energy companies, including Exxon Mobil Corp. and ConocoPhillips .

Caterpillar reports higher profit; raises forecast (Reuters)

Reuters - Heavy equipment maker Caterpillar Inc. on Monday said first-quarter earnings rose 48 percent, thanks in part to strong sales to mining and energy companies, and it raised its full-year earnings forecast.

Gasoline prices surge to $2.91/gallon (Reuters)

Reuters - The average U.S. retail price of gasoline surged about 9 percent over the past two weeks, pumped up by higher crude oil costs as well as regulatory ethanol-blending requirements, an industry analyst said.

Home loan demand down as rates hit new highs (Reuters)

Reuters - Mortgage applications fell for a second consecutive week, led by a decline in demand for home purchase loans, as interest rates reached new multiyear highs, an industry trade group said on Wednesday.

Wal-Mart turns to “Sandra” for sales growth (Reuters)

Reuters - Wal-Mart Stores Inc. hopes a fictional cast of characters will help it boost lackluster sales — which are occurring even with store traffic near full capacity — and catch up with faster-growing rival Target Corp.

Stock futures solidly higher on strong earnings (Reuters)

Reuters - U.S. stock futures rose sharply on Wednesday, extending gains after Tuesday's rally, as market bellwethers Yahoo! Inc. and IBM raised investors' expectations for strong quarterly profits.

JPMorgan Chase 1st-quarter profit surges 36 pct (Reuters)

Reuters - JPMorgan Chase & Co. on Wednesday said first-quarter profit surged 36 percent, beating expectations, on growth in investment and consumer banking as well as lower credit card losses.

Coke quarterly profit rises, sales flat (Reuters)

Reuters - Coca-Cola Co. , the world's biggest soft-drink maker, on Wednesday posted 10 percent rise in quarterly profit boosted by its PowerAde sports drink and Dasani bottled water brands and strong growth in countries such as China, Russia and Turkey.

Cingular posts quarterly profit, revenue up (Reuters)

Reuters - Cingular Wireless, the No. 1 U.S. mobile service provider, on Wednesday posted a first-quarter profit versus a year-earlier loss, and revenue rose as it added new wireless subscribers.

Consumer prices rise in March, core up 0.3 pct (Reuters)

Reuters - Soaring energy costs helped push U.S. consumer prices up a steep 0.4 percent last month, while rising apparel prices spurred core inflation more than expected, a government report showed on Wednesday.

Pfizer profit jumps on lower costs (Reuters)

Reuters - Pfizer Inc. , the world's largest drugmaker, on Wednesday said its first-quarter earnings rose, helped by lower costs, favorable taxes and the absence of big charges recorded last year for the repatriation of overseas profits.

Liberia: Govt. Gives US$300,000 to TRC 
AllAfrica.com - Apr 17 11:10 AM
President Ellen Johnson-Sirleaf has requested the Ministry of Finance to make prompt disbursement of her government’s initial support of US$300,000 to the Truth and Reconciliation Commission (TRC).Save to My Web

Miami-Dade schools teach students about personal finance 
Miami Herald - Apr 17 8:18 AM
Thinking about financial planning in April is almost unavoidable — it’s tax time. But recently the month has been gaining national recognition as Financial Literacy Month for youths.Save to My Web

Fortune Group forges alliance with Amlak to offer finance for AED 4 billion Burj Al Alam 
Mena Report - Apr 15 11:21 PM
Leading Dubai-based real estate development company, Fortune Group, has announced that it had exclusively tied up with Amlak Finance (PJSC), the UAE’s leading Islamic home finance company to offer financing options for their latest project, Burj Al Alam which is one of the worlds tallest freehold commercial tower being developed at an estimated value of AED 4 billion at Business Bay.Save to My Web

Finance ordered to improve monitoring of business gross receipts 
Saipan Tribune - Apr 16 9:10 PM
The House of Representatives has tasked the Department of Finance to study the feasibility of linking all businesses to a central computer system to monitor their gross receipts.Save to My Web

Personal Finance Daily — April 17 
Market Watch - Apr 17 11:47 AM
If you advocate for government to run the health-care system in the United States, you will spark a major debate over the pros and cons of that strategy. On the one hand, government could make sure everyone that gets health care, and maybe at a reasonable price. On the other hand, our government hasn’t proved itself very adept at running things, so you could rightly worry about the quality of Save to My Web

Gemstar-TV Guide Appoints Finance Chief 
AP via Yahoo! Finance - Apr 17 6:42 AM
Media company Gemstar-TV Guide International Inc. said Monday it appointed Bedi Singh, formerly of Novartis Pharma AG, as its new chief financial officer.Save to My Web

They Prepare the Tax Laws, but Not Their Own Returns 
Washington Post - Apr 16 5:02 PM
Three of the four top lawmakers on the Senate Finance and House Ways and Means committees, which are in charge of writing tax laws, pay professionals to file their annual tax returns with the Internal Revenue Service.Save to My Web

Lawmakers Prepare for Special Session on School Finance 
KCBD-TV - 19 minutes ago
In less than 48 hours state lawmakers will meet for a special session on school finance. The 30 day special legislative session starts Monday. The State Supreme Court set a June first deadline for the state to figure out how to designate money other than property taxes to finance schools.Save to My Web

Cianchette Amends Campaign Finance Reports 
WMTW - Apr 16 4:02 AM
Former Republican gubernatorial nominee Peter Cianchette amends campaign finance reports from his 2002 Blaine House bid, listing previously unreported in-kind contributions from his family’s construction company.Save to My Web

Pollock leaves SunTrust for Morgan Joseph 
Nashville Business Journal - Apr 17 12:05 PM
Gordon Pollock Jr. has left SunTrust Robinson Humphrey and joined Morgan Joseph & Co. as managing director in the firm’s corporate finance office in Nashville.Save to My Web

Lawmakers Look For New Way To Finance Schools 
NBC 5 Dallas Fort Worth - Apr 17 9:54 AM
State lawmakers have gathered in Austin, ready to take another shot at finding a new way to finance public schools.Save to My Web

Uganda: Central Banks Want Policies to Regulate Micro Finance 
AllAfrica.com - 2 hours, 12 minutes ago
CENTRAL Banks in East Africa have called on policy makers to have a better understanding of the microfinance industry to develop a clear framework for regulation and supervision of the sub-sector.Save to My Web

Thai rate rises near peak - finance minister 
Reuters via Yahoo! Asia News - Apr 17 2:33 AM
BANGKOK, April 17 (Reuters) - The Bank of Thailand’s steady rate rises since August 2004 are approaching their peak, Finance Minister Thanong Bidaya said on Monday.Save to My Web

GM’s Wagoner Fails to Gain Bondholder Confidence With GMAC Sale 
Bloomberg.com - Apr 17 2:03 AM
April 17 (Bloomberg) — General Motors Corp. Chairman Rick Wagoner won the unanimous support of his board earlier this month after agreeing to sell the automaker’s finance unit. He’s getting a vote of no-confidence from bond investors.Save to My Web

Pressure from attorney general helps reverse Senate Finance Committee funding decision 
WIS-TV Columbia - Apr 17 11:02 AM
(Greenville) April 12, 2006 - A state Senate subcommittee shrunk a proposal that would have put special criminal domestic violence prosecutors in every county. That decision was made Tuesday, but there have been some major changes since then.Save to My Web

Personal Finance Tips
NBC 11 - In her new, exclusively-broadband show, financial expert Jean Chatzky provides consumers with the tools and information they need to address their most pressing, personal finance issues. Tune in to learn and apply these tips to your own investment

21-Day Archive
Omaha World-Herald - An 18-month recruitment drive by the Democrats has produced nearly a dozen strong candidates with the potential for unseating House Republicans, but probably not enough to take back control of the House absent a massive anti-incumbent wave this fall

Latest Financial News
1960 Sun - 10:49 AM (RTT) India Apr. 7 Forex Reserves Climb $2.587 Bln On Week To $154.209 Bln full story 9:58 AM (RTT) Quarterly Corporate Earnings (04/13/06) full story 8:58 AM (RTT) Quarterly Corporate Earnings (04/13/06) full story 7:58 AM (RTT) Quarterly

Home : News : NEWS : Top Stories
1960 Sun - Time is nearly up for lawmakers charged with finding a new way for Texas to pay for public schools. A 30-day special legislative session set to begin Monday comes about six weeks before the Texas Supreme Court’s June 1 deadline for the state to

Spratt faces well-funded Republican challenger
Fort Wayne News-Sentinel - COLUMBIA, S.C. - Vice President Dick Cheney’s visit to South Carolina last month put more than $87,000 into the campaign coffers of state Rep. Ralph Norman, the Republican chosen by the GOP to challenge Democratic U.S. Rep. John Spratt. Norman

Top Jobs
Anchorage Daily News - Alaska DigiTel is hiring for the following positions: * Sr. Sales Manager * Assistant Controller * Account Executive * Staff Trainer For more info on these jobs please visit our website at www.alaskadigitel.com . Qualified applicants may email their

BofA to invest $10M to spur small businesses
East Bay Business Times - Bank of America Corp. will invest $10 million in the Opportunity Finance Network to spur small-business development. Opportunity Finance Network will spend the money on loans and investments to financial intermediaries known as community development

School finance expert dies
Austin American-Statesman - Jim Shear, a behind-the-scenes architect of the state school finance system, died last week after a lengthy battle with throat cancer. He was 53. Known for his intellect and doggedness, Shear first tackled school finance in 1984 at the behest of Bob

More police, pay raises in $48.5M budget proposal
Alexandria Daily Town Talk - Alexandria City Council members Tuesday are expected to pass a $48.5 million general fund budget for 2006-07 that should put five more police officers on the streets and gives 4 percent pay raises to city employees. The amount is up about $1 million

Schools can’t hire till state sets budget
Wichita Eagle - Plans by Wichita-area school districts to increase employee salaries and hire more teachers to reduce class sizes are on hold until the Legislature decides how to fund schools. For the second year in a row, school districts are waiting for lawmakers

Bloomberg contributes to Sweeney’s campaign
Post-Star - Democratic congressional candidate Kirsten Gillibrand has continued to rake in campaign cash from the New York City area, while incumbent Republican U.S. Rep. John Sweeney picked up a large contribution from the city’s mayor, new campaign finance

State Lawmakers Begin Latest School Finance Special Session
KSAT 12 - AUSTIN, Texas — Texas lawmakers officially began their latest attempt to repair the state’s method of paying for public education Monday with the start of a 30-day special legislative session. Gov. Rick Perry called for the special session to begin

Gemstar-TV Guide names new CFO
Reuters - NEW YORK (Reuters) - Gemstar-TV Guide International Inc. on Monday named Bedi A. Singh as its new chief financial officer, effective immediately. Singh most recently served as chief finance and administration officer for Novartis AG

More police, pay raises in $48.5M budget proposal
Alexandria Daily Town Talk - Alexandria City Council members Tuesday are expected to pass a $48.5 million general fund budget for 2006-07 that should put five more police officers on the streets and gives 4 percent pay raises to city employees. The amount is up about $1 million

BofA to invest $10M to spur small businesses
East Bay Business Times - Bank of America Corp. will invest $10 million in the Opportunity Finance Network to spur small-business development. Opportunity Finance Network will spend the money on loans and investments to financial intermediaries known as community development

Alumnus Spotlight: Jeffrey Sluzala
Cauldron - In 1998 with a Bachelor of Arts in Economics and 2004 with a Master of Business Administration. Where do you work? How long have you worked there? I am an Assistant Vice President of Finance at Forest City Enterprises. Forest City is an owner and

USM requests 11 percent tuition increase
WDAM-TV - Southern Miss students may soon be paying more for their higher education. USM President Shelby Thames has asked the State College Board for an 11 percent tuition increase to recoup financial losses from Hurricane Katrina and to offset an

PowerDsine Names Shemer CFO
MSN MoneyCentral - NEW YORK (AP) - PowerDsine Ltd., a designer of microchips that help transmit electrical power over Ethernet lines, said Monday it named Aviram Shemer the company’s chief financial officer. Shemer replaces Geri Katz, who is leaving the company to

Without DeLay
Weekly Standard - AS HOUSE MAJORITY LEADER, Tom DeLay had a crisp and clear style. He coupled an agenda with an unwillingness to compromise and an iron resolve to produce narrow victories based entirely on Republican votes. At the moment, his successor, John Boehner

State Lawmakers Begin Latest School Finance Special Session
KSAT 12 - AUSTIN, Texas — Texas lawmakers officially began their latest attempt to repair the state’s method of paying for public education Monday with the start of a 30-day special legislative session. Gov. Rick Perry called for the special session to begin

Finance Ministers Meeting About Surging Oil Prices
Industrial Distribution - The G7 nations finance ministers will convene this week to handle problems associated with surging oil process and global currency as China s leader comes to town. Finance ministers and central bank chiefs will meet on Friday, before the World

FINANCE MANAGER
Times Daily - The Sheffield Housing Authority (SHA) is accepting applications for the position of Finance Manager. The position is responsible for overseeing financial, records management and personnel functions. Duties include responsibility for the accounting

Bureau of Economic Analysis
Attention Please The BEA web address has changed from www.bea.doc.gov to www.bea.gov The old address will be retired on May 1, 2006. Please update your bookmarks/favorites as appropriate.

Economy Tackle - Dolphin Dive & Kayak
Information on products and services including, new and used kayaks, lessons and guided tours.

The Intention Economy | Linux Journal
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CHINESE ECONOMY TODAY (Powered by Invision Power Board)
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Alberta-Canada.com ~ The Alberta Economy
Alberta is blessed with an abundance of natural advantages, which have formed the foundation of our province’s thriving economy.

Public Agenda Issue Guide: The Economy
THE ECONOMY OVERVIEW: The American economy went from boom to bust in 2001, slipping into a recession even before suffering another blow with the Sept. 11 terrorist attacks.

Canadian economy online
Includes links to key economic indicators, economic information from government sites organized under various themes, and definitions of key economic concepts.

LiNE Zine: Learning in the New Economy e-Magazine
LiNE Zine is an independent, quarterly e-magazine representing the best thinking on learning, performance, and knowledge on New Economy themes

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