Ex-hedge fund manager ordered to pay $300 million
Published Wednesday, Aug. 20, 2008
A former hedge fund manager was ordered to pay nearly $300 million for having cheated clients by sending out fake account statements, the Commodity Futures Trading Commission said on Tuesday. Read More |
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Goodyear to close 92 U.S. stores, cut jobs
Published Wednesday, Aug. 20, 2008
Goodyear Tire & Rubber Co said it would close 12 percent, or 92, of its company-owned U.S. stores and cut 600 full- and part-time jobs as the U.S. economic downturn put more pressure on the company. Read More |
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Carlyle Chairman Gerstner to retire
Published Wednesday, Aug. 20, 2008
Carlyle Group CYL.UL, one of the world's largest private equity firms, said on Tuesday Chairman Louis Gerstner will retire and become a senior adviser to the company's buyout funds. Read More |
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Inflation pressures mount as home building slows
Published Wednesday, Aug. 20, 2008
U.S. wholesale prices shot up in July at the fastest annual rate in 27 years, while home builders cut back on construction as they worked through a glut of unsold homes, government data showed on Tuesday. Read More |
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HP results top Street despite stronger dollar
Published Wednesday, Aug. 20, 2008
Hewlett-Packard Co results beat Wall Street targets as net profit rose 14 percent, subduing fears that slowing economies and a stronger dollar would weaken the world's biggest computer and printer maker and its rivals.
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Slower global demand could hurt Dell, HP
Published Tuesday, Aug. 19, 2008
Fears that emerging market demand for Dell Inc (DELL.O: Quote, Profile, Research, Stock Buzz) and Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz) technology products will slow and that the U.S. dollar will strengthen in the remainder of the year may overshadow earnings in line with or above Wall Street targets.
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Bailout concerns slam Freddie, Fannie shares
Published Tuesday, Aug. 19, 2008
Investors dumped shares of Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) on Monday after a newspaper report said government officials may have no choice but to effectively nationalize the U.S. housing finance titans.
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Lowe's profit tops Wall St
Published Tuesday, Aug. 19, 2008
Retailer Lowe's Cos (LOW.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Monday as U.S. consumers spent tax rebate checks on spring projects, but it forecast third-quarter results below Wall Street estimates. Read More |
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Home builders stay grim in August
Published Tuesday, Aug. 19, 2008
Home builder sentiment was stuck at a record low in August, as stringent lending and a flood of foreclosed homes dragged on the real estate market, according to data from the National Association of Home Builders released on Monday.
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U.S. likely to recapitalize Fannie, Freddie: report
Published Monday, Aug. 18, 2008
The U.S. Treasury is growing increasingly likely to recapitalize Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) in the months ahead on the taxpayer's dime, Barron's reported in its August 18 edition.
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For Bristol, steady course may be best navigation
Published Monday, Aug. 18, 2008
Although its shares are mired near multiyear lows, Bristol-Myers Squibb Co (BMY.N: Quote, Profile, Research, Stock Buzz) may be well advised to avoid drastic changes in its overall business strategy as it bids for ImClone Systems Inc (IMCL.O: Quote, Profile, Research, Stock Buzz).
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Oil's fall, dollar's rise key to gains
Published Monday, Aug. 18, 2008
Bolstered by falling oil prices and a rising dollar, stocks could extend their modest gains this week, even in the face of still troubling consumer- and housing-related data.
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Analysts expecting large loss from Lehman: report
Published Monday, Aug. 18, 2008
Some analysts are girding for a third-quarter loss of $1.8 billion or more from U.S. investment bank Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research, Stock Buzz), instead of the modest profit they had previously expected, the Wall Street Journal reported on Sunday.
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Morgan Stanley sees more finance crisis pain: paper
Published Monday, Aug. 18, 2008
The financial crisis will probably not end until next year or even 2010, Germany's Handelsblatt newspaper quoted Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) co-President Walid Chammah as saying in a preview of its Monday edition.
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