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Reuters - The S&P 500 and Nasdaq advanced on Thursday, building on their best day in eight weeks in the previous session as data showed an improvement in pending home sales and a drop in initial jobless claims.
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Reuters - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping dampen fears the economy could face a double dip recession.
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Reuters - Burger King Holdings Inc , the No. 2 U.S. fast-food chain, agreed to sell itself to investment firm 3G Capital for about $3.26 billion in a deal analysts said would give the restaurant breathing room to fix its business.
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Reuters - Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.
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Reuters - Hewlett-Packard Co won the bidding war to buy data storage company 3PAR Inc for $2.4 billion, as rival Dell Inc bowed out on Thursday.
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AP - Investors who lost money when Bank of America Corp. bought Merrill Lynch without disclosing Merrill's problems can start applying to tap a $150 million compensation fund.
- Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming. - AP - Del Monte Foods Co. said Thursday that its fiscal first-quarter profit edged up 1.4 percent, but revenue softened on weakness in the consumer business and the company trimmed its expectations for revenue growth this year. - 
AP - Romania's unpopular government was in turmoil Thursday after the prime minister fired five Cabinet ministers, with the economy minister also saying he will quit.
- AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent. - 
Reuters - The International Monetary Fund will give Pakistan $450 million in emergency flood aid, providing some relief for a government overwhelmed by the disaster and facing renewed militant violence.
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Reuters - U.S. retailers posted sales that beat modest expectations in August as consumers sought out bargains during the key back-to-school selling season.
- U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher standards--such as increased credit scores and higher down payment requirements--on applicants of all stripes. And as investors fled for the hills, the exotic mortgage products that helped fuel the real estate boom have largely disappeared from the private market. But that doesn't mean all buyers need a big pile of cash to snag a home loan. ... - 
AP - A mile-long oil sheen spread Thursday from an offshore petroleum platform burning in the Gulf of Mexico off Lousiana, west of the site of BP's massive spill.
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AP - Congress seems increasingly reluctant to let taxes go up, even on wealthier Americans.
- Stocks drifted between modest gains and losses Thursday, as investors took a step back from a major rally in the previous session and digested mixed economic reports.
- After ending August in a slump, oil prices surged into September, rallying more than 3% Wednesday as the economic outlook brightened.
- Investors eased away from safe-haven Treasurys Wednesday, sending prices lower and yields higher after strong manufacturing data out of both the U.S. and China spurred optimism about the global economy.
- Shares of luxury retailer Saks surged Tuesday after a British newspaper said the company could soon get a buyout offer of $1.7 billion.
- So much for merger mania getting investors excited.
- In many businesses, it's not the worst thing in the world to be second or even third biggest.
- U.S. stocks ended a choppy day of trading lower Monday, as a dismal economic outlook overshadowed earlier optimism fueled by takeover talk.
- Prices for U.S. Treasurys rose slightly Monday as investors braced for $102 billion in auctions and several economic reports.
- Stocks are likely to face another choppy, downtrodden week, but that's no big surprise.
- Personally, I have no idea whether the economy is headed for a double-dip downturn, as some now predict. And frankly, no one else does either.
- The dollar turned higher this week as jittery investors flocked to the greenback for its safe-haven appeal amid fears of a global economic slowdown.
- David Marcus's past is filled with triumph and defeat. In the '90s he was a star protégé of mutual fund king Michael Price, the value manager who made a killing for investors in his Mutual Series funds. Marcus ran three funds there with more than $14 billion in assets and was labeled a European stock-picking ace by the press.
- Why don't investors love Microsoft?
- The dollar fell to a 15-year low against the Japanese yen Wednesday, as investors flocked to safe-haven trades after weak economic data was released by China and the Federal Reserve posted a bearish outlook.
- Prices for U.S. Treasurys gained Tuesday after the Federal Reserve announced plans to reinvest in the market and issued a cautious economic outlook.
04 Jun 2007 07:39 am by admin
Worldwide Business News, Top Business Stories
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