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Business News News Archive - Political Yard

Alcoa third-quarter net down; cutting back spending

Posted on Oct 07, 2008 - 5:48 pm
Reuters - Aluminum producer Alcoa Inc on Tuesday posted a lower-than-expected quarterly profit on softening demand in key aerospace and auto sectors, and said it was halting major capital projects in the face of uncertain markets.

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Alcoa profit drops on lower aluminum prices
Posted on Oct 07, 2008 - 4:48 pm - Reuters
Reuters - Aluminum producer Alcoa Inc on Tuesday posted a quarterly profit that missed analysts' estimates on softer demand, higher costs and sharply lower prices for aluminum.

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Asia stocks recover on global rate cut hopes
Posted on Oct 07, 2008 - 1:45 am - Reuters
Reuters - Asian stocks outside Japan rose for the first time in four days on Tuesday while the yen and government bond prices fell after a surprisingly large interest rate cut by Australia's central bank raised hopes that other policymakers would follow suit.

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Asia stocks off 5 percent
Posted on Oct 06, 2008 - 2:38 am - Reuters
Reuters - Asian stocks dropped by around 5 percent on Monday, led by exporters, and the yen surged to a 2-year high against the euro as investors doubted a scattered European response to the financial crisis and a $700 billion U.S. bank bailout could prevent a deeper slump in the global economy.

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Asia stocks tumble as crisis intensifies
Posted on Oct 06, 2008 - 1:37 am - Reuters
Reuters - Asian stocks fell 2-3 percent on Monday, led by shares of exporters, after a hectic weekend in Europe as the financial crisis gathered steam there, knocking the euro to the lowest in a year.

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AIG to sell Thai bank, consumer finance units
Posted on Oct 06, 2008 - 12:37 am - Reuters
Reuters - American International Group Inc (AIG) is to sell its Thai consumer finance businesses, including AIG Retail Bank and AIG Card, the head of the bank said on Monday.

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AIG to sell Japanese life insurance units
Posted on Oct 04, 2008 - 2:25 am - Reuters
Reuters - American International Group Inc, plans to sell its three Japanese life insurance businesses, an AIG spokesman said on Saturday, in sale Japanese media estimated could top $9.5 billion.

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Anheuser sees profit up, Modelo seeks arbitration
Posted on Oct 03, 2008 - 6:23 pm - Reuters
Reuters - Brewer Anheuser-Busch Cos Inc previewed strong third-quarter results and told investors that partner Grupo Modelo will seek arbitration over Anheuser's proposed takeover by InBev , a move that could possibly disrupt the deal.

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AIG to focus on property, casualty insurance
Posted on Oct 03, 2008 - 8:21 am - Reuters
Reuters - American International Group Inc , the insurer crippled by losses on bad mortgage bets, said on Friday it will focus on its property, casualty and foreign general insurance businesses.

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AIG says to focus on property, casualty insurance
Posted on Oct 03, 2008 - 7:20 am - Reuters
Reuters - American International Group Inc , the insurer crippled by losses on bad mortgage bets, said on Friday it will focus on its property, casualty and foreign general insurance businesses.

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Apple tumbles on consumer spending concerns
Posted on Sep 29, 2008 - 10:51 am - Reuters
Reuters - Apple Inc shares tumbled 16 percent on Monday, their biggest drop in seven years, amid concerns the maker of Mac computers and other consumer electronics will suffer as the economy slows.

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August consumer spending flat, incomes up
Posted on Sep 29, 2008 - 7:51 am - Reuters
Reuters - Hard-pressed U.S. consumers kept their spending completely in check during August despite an unexpected bounce upward in incomes, according to a government report on Monday that implied worry about the economy's direction was deepening.

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Alitalia eyes relaunch in weeks after union deal
Posted on Sep 27, 2008 - 9:38 am - Reuters
Reuters - Alitalia aims to be reborn as a slimmed down airline in just weeks, a government official said Saturday, after once-reluctant pilots' unions agreed to a rescue plan by a group of Italian investors.

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Alitalia rescue back on track, says minister: report
Posted on Sep 27, 2008 - 4:37 am - Reuters
Reuters - The rescue of Alitalia (AZPIa.MI) from bankruptcy is back on track, Italy labor minister Maurizio Sacconi told Il Giornale newspaper in an interview given before key pilots' unions also signed up to the deal early on Saturday.

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Antitrust group urges limits on Google, Yahoo deal
Posted on Sep 23, 2008 - 3:15 pm - Reuters
Reuters - Google and Yahoo's deal to let Google place some ads on Yahoo's search pages, which the Justice Department is reviewing, should be allowed with limits, the American Antitrust Institute said on Tuesday.

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AIG CEO expects "for sale" list next week
Posted on Sep 22, 2008 - 5:09 pm - Reuters
Reuters - American International Group Inc should have a list of assets it wants to sell by next week, its new chief executive said on Monday, as the company prepares to split itself up to repay an emergency bailout loan.

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AIG shares jump on report of shareholder plan
Posted on Sep 22, 2008 - 4:09 pm - Reuters
Reuters - Shares of American International Group Inc jumped as much as 43 percent on Monday, boosted by hopes that quick asset sales might allow the struggling insurer to repay an emergency bailout loan and stay out of the clutches of the U.S. government.

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AIG shares jump 27 percent on shareholder plan report
Posted on Sep 22, 2008 - 12:08 pm - Reuters
Reuters - Shares of American International Group Inc rose 27 percent on Monday after a report that some leading shareholders are searching for a way to keep the company from being effectively taken over by the Federal Reserve.

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AutoZone quarterly earnings up despite downturn
Posted on Sep 22, 2008 - 7:06 am - Reuters
Reuters - AutoZone Inc , the largest U.S. auto-parts retailer, reported a 12.2 percent rise in quarterly profit on Monday as it expanded stores despite a steep downturn in U.S. auto sales.

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AIG's ex-CEO refuses $22 million severance payout: report
Posted on Sep 22, 2008 - 6:06 am - Reuters
Reuters - American International Group Inc's former Chief Executive Robert Willumstad has rejected a $22 million severance payment, the Wall Street Journal reported, citing a person familiar with the decision.

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A changed Wall Street hopes for positive signs
Posted on Sep 22, 2008 - 1:04 am - AP
AP - The Dow Jones industrial average may be almost exactly where it was a week ago, but Wall Street is a completely different place.

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