AP - Berkshire Hathaway Inc. said Friday its fourth-quarter profit fell almost 18 percent as its companies linked to construction were hurt by nationwide housing woes, and the company generated smaller insurance underwriting profits and investment gains.
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Reuters - The U.S. Air Force said on Friday it
had picked a transatlantic team led by Northrop Grumman,
instead of Boeing, to start building a new aerial refueling
fleet in a surprise choice worth about $35 billion.
Original post by Yahoo! News: Business
Reuters - Warren Buffett’s Berkshire Hathaway
Inc (BRKa.N) (BRKb.N) said on Friday quarterly profit fell 18
percent, hurt by lower earnings from insurance underwriting and
a decrease in investment gains.
Original post by Yahoo! News: Business
Reuters - The Toronto Stock Exchange’s main index
had its biggest decline in more than three weeks on Friday, hit
by jitters over the health of the U.S. economy, and with
resource and banking shares falling sharply.
Original post by Yahoo! News: Business
Reuters - The U.S. Air Force has picked a
Northrop Grumman-led transatlantic team over rival Boeing Co
to start building a new aerial refueling fleet in a
major upset, a prominent defense analyst said on Friday.
Original post by Yahoo! News: Business
AP - Berkshire Hathaway Inc. says its fourth-quarter profit fell almost 18 percent as its companies linked to construction were hurt by nationwide housing woes.
Original post by Yahoo! News: Business
Reuters - The Toronto Stock Exchange saw its
biggest decline in more than three weeks on Friday, as jitters
over the health of the U.S. economy returned to pull the main
index sharply lower, as resource and banking shares fell.
Original post by Yahoo! News: Business
Reuters - Stocks tumbled on Friday as another
round of weak economic data added to U.S. recession fears and a
record loss at insurer AIG underscored worries about more
write-downs in the financial sector.
Original post by Yahoo! News: Business
Reuters - Jitters over the health of the U.S.
economy returned to weigh on the Toronto Stock Exchange’s main
index on Friday, amid a steep sell-off led by resource and
banking shares.
Original post by Yahoo! News: Business
Reuters - Stocks tumbled on Friday as another
round of weak economic data added to U.S. recession fears and a
record loss at insurer AIG underscored worries about
more write-downs in the financial sector.
Original post by Yahoo! News: Business
Reuters - Stocks added to losses in late trading
on Friday, pushing the S&P 500 index down 3 percent on worries
about the economy and financial write-downs.
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AP - Stocks fell sharply Friday after a series of depressing economic and earnings reports and high oil prices stoked concerns about the health of economy. The major stock indexes fell more than 2 percent, with the Dow Jones industrials at times giving up more than 300 points.
Original post by Yahoo! News: Business
Reuters - Wells Fargo & Co, the fifth-largest
U.S. bank, said on Friday it has recorded a $39 million loss
tied to some complex debt that has lost value and which is held
by its money market mutual funds.
Original post by Yahoo! News: Business
Reuters - The Toronto Stock Exchange’s main index
extended a sharp fall on Friday afternoon as resource shares
weakened and worries of a recession in the United States
resurfaced.
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Reuters - The Federal Reserve’s rapid-fire
interest rate reductions were warranted, but the central bank
must reverse course quickly once calm is restored to financial
markets, Fed officials said on Friday.
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AP - Consumer spending is threatening to stall out while consumer confidence, battered by soaring energy costs and falling home prices, has taken a steep nosedive.
Original post by Yahoo! News: Business
Reuters - Wells Fargo & Co , the
fifth-largest U.S. bank, on Friday said it has recorded a $39
million loss tied to some complex debt that has lost value and
which is held by its money market mutual funds.
Original post by Yahoo! News: Business
AP - Stocks fell sharply Friday after a series of depressing economic and earnings reports and high oil prices stoked concerns about the health of economy. The major stock indexes fell more than 2 percent, with the Dow Jones industrials at times giving up more than 300 points.
Original post by Yahoo! News: Business
AP - The dollar kept spiraling lower Friday, hitting another new low against the euro, as worries about the U.S. economy depress the currency and raise thorny issues in Europe about how to cope with the growing gap.
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Reuters - Stocks sank on Friday as another round
of weak economic data added to U.S. recession fears and a
record loss at AIG , the world’s biggest insurer,
underscored worries about the financial sector.
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NewsFactor - A large organization decides that blogs cut productivity, provide misleading information and could compromise security. It discontinues access for its personnel, even though information is a key weapon in competition. The question is whether this is a smart policy for a large organization, especially the U.S. Air Force.
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Reuters - Billionaire Wilbur Ross has agreed to
invest up to $1 billion in Assured Guaranty Ltd ,
bypassing big bond insurers like Ambac Financial Group Inc
in favor of a rival that has largely avoided the credit
problems plaguing the industry.
Original post by Yahoo! News: Business
Reuters - Toronto’s main stock market index
dropped more than 300 points on Friday as weak commodity prices
and disappointing results from Royal Bank of Canada rattled
investors.
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AFP - German automaker Volkswagen on Friday said its full-year 2007 net profit jumped nearly 50 percent on solid sales.
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Reuters - Venezuelan state oil firm PDVSA told a
UK court on Friday that a $12 billion freeze on its assets
should not have been granted to Exxon Mobil as the oil
major’s arguments were “sheer fantasy land.”
Original post by Yahoo! News: Business
AP - Stocks fell sharply Friday after a series of economic and earnings reports and a further rise in oil prices stoked concerns about the health of economy. The major stock indexes fell more than 1.5 percent, with the Dow Jones industrials giving up more than 250 points.
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Reuters - The Dow industrials and S&P 500 index
fell more than 2 percent on Friday on fears of recession and a
huge loss at insurer American International Group .
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AFP - The French-Belgian bank Dexia, which specialises in financing local authorities, reported a 7.9-percent fall in net profit on Friday but said it had been little affected by the US home-loan subprime crisis.
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NewsFactor - Microsoft said on Thursday it plans to slash prices on its Windows Vista operating system sold through retail channels. The company wants consumers to upgrade to the latest version of its flagship product.
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Reuters - The dollar was off session lows but
lingered near record troughs against the euro, Swiss franc and
a basket of major currencies on Friday, pressured by concerns
about the U.S. economy and expectations of further aggressive
interest rate cuts.
Original post by Yahoo! News: Business