WRAL.com - AP Business News

Person close to talks: Cablevision close to buying Newsday

Sun, 11 May 2008 22:06:54 -0400

Cablevision Systems Corp. is close to buying the Long Island newspaper Newsday from Tribune Co. for $650 million, a person with knowledge of the situation said Sunday.

Sprint Nextel reports larger loss in 1st-qtr

Mon, 12 May 2008 07:21:13 -0400

Wireless carrier Sprint Nextel says it had a larger first-quarter loss as it continued to lose valuable monthly subscribers and had to pay for severance charges and other costs.

IndyMac swings to 1Q loss, sees 2008 loss

Mon, 12 May 2008 07:26:12 -0400

IndyMac Bancorp says it swung to a first-quarter loss as deteriorating credit markets forced write-downs on the value of mortgage-backed securities.

MBIA slides to huge 1Q loss on hefty charges

Mon, 12 May 2008 07:04:16 -0400

MBIA is posting a large first-quarter loss, as the struggling bond insurer took heavy charges to write down the value of certain liabilities amid continued deterioration in the credit markets.

Stocks headed for moderately higher open as oil falls

Mon, 12 May 2008 06:54:12 -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 07:44:15 -0400

China's inflation rebounded 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.