WRAL.com - AP Business News

Cablevision buys Newsday from Tribune for $650M

Mon, 12 May 2008 08:48:13 -0400

Cablevision Systems Corp. is buying the Long Island-based newspaper Newsday from Tribune Co. for $650 million, the companies announced Monday.

Sprint Nextel 1Q deficit widens on charges, customer exodus

Mon, 12 May 2008 08:01:13 -0400

Wireless carrier Sprint Nextel Corp. said Monday it had a larger first-quarter deficit as revenue fell, it lost more than a million subscribers and it absorbed charges for severance and other costs.

IndyMac Bancorp swings to 1st-qtr loss, sees 2008 loss

Mon, 12 May 2008 08:20:13 -0400

IndyMac Bancorp Inc. said Monday it swung to a loss in the first quarter as deteriorating credit markets forced the mortgage lender to lower the value of mortgage-backed securities, and warned it would not post a profitable quarter in 2008.

MBIA slides to huge 1Q loss on hefty charges

Mon, 12 May 2008 08:37:13 -0400

MBIA Inc. swung to a $2.41 billion loss during the first quarter as the bond insurer faced ongoing deterioration in the credit markets and recorded billions in write-downs.

Stocks headed for moderately higher open as oil falls

Mon, 12 May 2008 07:55:13 -0400

U.S. stocks headed for a moderately higher open Monday as oil prices ticked lower and the dollar advanced.

US health secretary: Chinese Heparin shipped to US now safe

Mon, 12 May 2008 07:12:17 -0400

A blood thinner manufactured in China and linked to dozens of deaths in the United States is now safe because of tighter testing and controls, a top American health official said Monday, while warning that all U.S. imports would face closer scrutiny in the future.

Oil prices retreat from $126 a barrel record

Mon, 12 May 2008 06:06:13 -0400

Oil prices retreated Monday in Asia from last week's record close near $126 a barrel as the dollar strengthened against the euro and yen.

Australia's Westpac offers $14B for bank rival St. George

Mon, 12 May 2008 07:40:41 -0400

Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking sector in years.

Toyota says new US auto plant delayed

Mon, 12 May 2008 05:56:12 -0400

A senior Toyota executive said Monday that plans for a new auto assembly plant in Mississippi are being delayed by worries about slumping American auto sales and a broader U.S. economic slowdown.

China's April inflation near decade-high levels

Mon, 12 May 2008 08:59:24 -0400

China's inflation rose in April to near decade-high levels, according to data released Monday, increasing pressure on Beijing to cool rapidly ascending prices and avert possible unrest ahead of the Summer Olympics.