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Business News News Archive - Political Yard

Consumer spending flags, but confidence rises

Posted on Aug 29, 2008 - 2:06 pm
Reuters - Personal income tumbled unexpectedly in July and inflation-adjusted spending shrank as government economic stimulus waned, but consumer spirits rose this month, a hint the economy may muddle through its woes.

Reuters

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Carrefour profit rises, keeps targets
Posted on Aug 29, 2008 - 2:02 am - Reuters
Reuters - Carrefour , the world's second-largest retailer, posted a 5.5 percent rise in first-half operating profit on Friday, lifted by strong performance in Latin America growth markets, and reiterated its 2008 targets.

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CFTC inspector starts probe into oil report: paper
Posted on Aug 28, 2008 - 1:57 am - Reuters
Reuters - The Inspector General for the U.S. commodity-futures regulator has officially begun an investigation into an inter-agency report on commodity markets, the Wall Street Journal said citing a person close to the matter.

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China Mobile says Q2 profit up
Posted on Aug 27, 2008 - 12:52 am - Reuters
Reuters - China Mobile (0941.HK), the world's largest wireless operator, posted a 51 percent rise in quarterly profit on strong subscriber growth, but faces new competition in China's revamped telecoms sector.

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Chico's profit beats; J Crew cuts view
Posted on Aug 26, 2008 - 4:50 pm - Reuters
Reuters - Apparel retailers Chico's FAS Inc and American Eagle Outfitters Inc posted better-than-expected profits on Tuesday despite taking deep markdowns to lure shoppers of all ages, sending their shares higher.

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Chico's, American Eagle post sharply lower profits
Posted on Aug 26, 2008 - 12:49 pm - Reuters
Reuters - Apparel retailers Chico's FAS Inc and American Eagle Outfitters Inc posted sharply lower profits on Tuesday, hurt by weaker sales and by increased markdowns needed to move unsold merchandise.

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Consumer confidence bounces
Posted on Aug 26, 2008 - 12:49 pm - Reuters
Reuters - Consumer confidence recovered more than expected in August as fears over inflation eased, while financial markets combed through housing data for reasons to hope the worst is over for the moribund sector.

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Confidence bounces; glimmer of hope in housing
Posted on Aug 26, 2008 - 10:49 am - Reuters
Reuters - Consumer confidence recovered more than expected in August as worries over inflation eased, while financial markets combed through a slew of housing data for reasons to hope the worst is over for the moribund sector.

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Correction: Aeropostale earnings story
Posted on Aug 22, 2008 - 4:29 pm - AP
AP - In extended headlines of Aug. 21 stories about clothing retailer Aeropostale Inc.'s second-quarter earnings report and the company's outlook, The Associated Press erroneously spelled the name. It is Aeropostale, not Aerpostale or Aeropostal.

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Cost-cutting boosts Gap's 2nd-quarter profit
Posted on Aug 21, 2008 - 4:37 pm - AP
AP - Apparel retailer Gap Inc. said Thursday that its second-quarter profit rose 51 percent, despite a sales decline, helped by cost-cutting and tight control on inventory.

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Credit fears, soaring oil push market lower
Posted on Aug 21, 2008 - 1:36 pm - Reuters
Reuters - Stocks fell on Thursday on fears of more credit losses on Wall Street while soaring oil prices rekindled concern about consumer and business spending.

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China shares surge 7.63 pct on policy support hopes
Posted on Aug 21, 2008 - 11:36 am - AFP
AFP - Chinese share prices surged to close 7.63 percent higher on Wednesday amid renewed hopes that Beijing will soon act to support the ailing stock market, dealers said.

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Credit jitters, higher oil hits futures
Posted on Aug 21, 2008 - 7:35 am - Reuters
Reuters - Stock index futures fell on Thursday as fears of more credit losses in the financial sector rattled investors and shares of mortgage finance giants Fannie Mae and Freddie Mac slid anew.

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China shares surge 5.89 pct by midday
Posted on Aug 20, 2008 - 7:31 am - AFP
AFP - Chinese share prices surged 5.89 percent by midday Wednesday amid speculation that the authorities will soon launch new measures to boost the ailing stock market, dealers said.

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Cox: SEC to propose short sale rule in weeks
Posted on Aug 20, 2008 - 4:31 am - Reuters
Reuters - The top U.S. securities regulator plans to propose a new short selling rule in the next few weeks which would be broader than an emergency order covering just 19 financial stocks which ended last week.

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Casino shares drop on talk of Macau visa cutbacks
Posted on Aug 20, 2008 - 3:31 am - Reuters
Reuters - Shares of casino operators fell sharply on Tuesday amid concerns that the Chinese government may act to curtail visits by mainlanders to Macau, the only place in China where gambling is legal.

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Carlyle Chairman Gerstner to retire
Posted on Aug 19, 2008 - 12:28 pm - Reuters
Reuters - Private equity firm Carlyle Group said on Tuesday its Chairman Louis Gerstner will retire and become a senior adviser to the company's buyout funds.

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China banks face tough times
Posted on Aug 19, 2008 - 3:26 am - Reuters
Reuters - China's huge state banks are poised to report strong profit growth for the first half in 2008, thanks to wider margins and strong fee income, but funding costs are expected to rise in the second half, eroding growth.

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Chrysler sues battery supplier Johnson Controls: report
Posted on Aug 19, 2008 - 12:26 am - Reuters
Reuters - U.S. automaker Chrysler LLC has filed a lawsuit in a Michigan court alleging supplier Johnson Controls Inc. charged inflated prices for batteries, and is seeking more than $15 million in damages, the Wall Street Journal reported on Tuesday.

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China's Changfeng had talks on GM's Hummer: source
Posted on Aug 18, 2008 - 3:21 am - Reuters
Reuters - General Motors Corp has had preliminary talks with Hunan Changfeng Motor Co (600991.SS) on a possible sale of its Hummer brand but the Chinese sport utility vehicle (SUV) maker has backed off, a source with direct knowledge of the matter said.

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Citigroup's new Asia CEO reorganizes by region
Posted on Aug 18, 2008 - 2:20 am - Reuters
Reuters - Citigroup Inc , the largest U.S. bank by assets, unveiled a reorganization of its Asia-Pacific business on Monday that gives regional heads increased authority across the bank's sprawling product lines.

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Chrysler aims to cut supply chain costs by 25 percent
Posted on Aug 15, 2008 - 11:08 am - Reuters
Reuters - Chrysler LLC aims to cut its supply chain costs by 25 percent in the next three years, John Campi, the automaker's executive vice president of procurement, said on Friday.

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