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Futures Tilt Lower After GDP Data
Stock futures declined after the government revised its initial reading on first-quarter economic growth higher, as investors digested rising interest rates and corporate updates showing the impact of higher commodity prices.
Oil Exporters Are Unable To Keep Up With Demand
The world’s top oil producers are proving unable to put more barrels on thirsty world markets despite sky-high prices, a shift that defies traditional market logic and looks set to continue.
Sears Swings to a Loss As Weak Sales Hit Results
Sears Holdings Corp. (NASDAQ:SHLD) swung to a surprise loss in its most recent quarter, as sales continue to weaken and margins shrank.
Study Casts Doubt on Key Rate
Major banks are contributing to the erratic behavior of a crucial global lending benchmark, a Wall Street Journal analysis shows.
Microsoft, Yahoo CEOs Golf, Talk
Microsoft Corp. (NASDAQ:MSFT) Chief Executive Steve Ballmer met Yahoo Inc.’s (NASDAQ:YHOO) chief executive Jerry Yang for a round of golf this past weekend to discuss a deal for Yahoo’s search-advertising business. But there was no indication that the software titan remained interested in acquiring Yahoo outright, people familiar with the matter said.
Russians to Form Mining, Metals Giant
Two Russian billionaires, OAO Norilsk Nickel’s (RTC:GMKN) main shareholder Vladimir Potanin and Metalloinvest tycoon Alisher Usmanov, have decided to join forces to create a national mining and metal champion.
Deutsche Bank, Morgan Stanley Bankers Leave as LBO Market Slows
Bankers who arranged financing for last year’s largest leveraged buyouts — TXU Corp. and First Data Corp. (NYSE:FDC) — are leaving their firms as the pace of takeovers slows, creating an opportunity for less established lenders to fund acquisitions.
Heinz Says Profit Climbed 7.2%, Revises Forecasts
H.J. Heinz Co. (NYSE:HNZ), the world’s biggest ketchup maker, reported fourth-quarter profit rose on currency gains and higher prices and forecast annual earnings that exceeded its earlier projections and some analysts’ estimates.
Pakistan Stocks Close Near Nine-Month Low on Political Concern
Pakistan’s stock index closed near a nine-month low amid concern investors will renege on payments for shares after prices dropped as much as 23 percent this month.
Fed Governor Mishkin Resigns
Federal Reserve governor Frederic Mishkin resigned Wednesday, leaving the central bank’s board even more short-handed in the midst of Wall Street’s credit crisis.
