Rising sales in Asia and Europe boosted Tiffany & Co.’s second-quarter profit on Thursday, signaling that strong international demand for jewelry is helping offset U.S. economic weakness.
Fellow jeweler Zale Corp. posted a loss for its fiscal fourth quarter but forecast 2009 profit above Wall Street expectations and noted significant growth opportunities in Canada.
The softening domestic […]
Upscale brands like BMW (BMWG.DE), Saab, and others are cutting back on leasing for some of the same reasons Chrysler quit leasing outright, effective Aug. 1. Ford Motor (NYSE:F - News) and General Motors (NYSE:GM - News) have also said they are taking incentive money out of leasing and putting it toward cut-rate loans and […]
State-run oil firms have proposed a Rs 57 per litre price for diesel they sell to industrial users as against Rs 34.80 a litre currently, as use of the fuel in sectors like power generation had seen an unprecedented growth.
Three oil companies have submitted a concept paper to the Petroleum Ministry for differential pricing of […]
King Pharmaceuticals Inc. said Friday that rival Alpharma Inc. has rejected a $1.4 billion buyout offer but indicated it is prepared to take the bid directly to shareholders in a move to expand its product offerings.
The Bristol, Tenn.-based drugmaker disclosed the $33 a share offer publicly for the first time on Friday. It said the […]
Merrill Lynch & Co Inc (MER.N) struck a deal with the U.S. Securities and Exchange Commission to buy back billions of dollars of auction-rate securities, in a settlement little different from one the bank reached a day earlier with several states.
Merrill agreed to buy back $7 billion of untradable debt […]
General Motors Corp. said Thursday it will invest more than $500 million in the U.S. to build a new compact car that will compete in an era of high gasoline prices.
Company Chairman and CEO Rick Wagoner announced the size of the investment Thursday at the Lordstown factory near Cleveland. The sprawling complex now makes the […]
Oil prices eased on Wednesday, reversing earlier gains and a sharp spike the day before, as the market awaited the latest weekly government report on the health of American energy inventories.
New York’s main contract, light sweet crude for September delivery, fell 13 cents to 114.40 dollars a barrel after briefly rising above 115 dollars earlier […]
Softening in global oil prices may lead to a cut in aviation turbine fuel prices next month but domestic airlines are unlikely to pass on the benefit to passengers.
Jet Airways, Kingfisher, SpiceJet and Indigo indicated that passengers would not benefit from the reduction in ATF prices saying air fares do not fully reflect the recent […]
Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality.
Amid renewed concern that shareholders will wind up with nothing if the government intervenes to bail out the troubled companies, […]
ImClone Systems Inc.’s board of directors said Monday cancer drug partner Bristol-Myers Squibb Co.’s $4.5 billion buyout offer “substantially undervalues” the company, with Chairman Carl Icahn personally against the deal.
Despite calling the bid too low, ImClone stopped short of rejecting it and said its board formed a committee to weigh the offer. The board also […]