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U.S. Pressing For Free Trade Pact With ASEAN
AHN
Washington will press for the approval this week of a free-trade pact with Asian countries which would benefit American companies from a bigger East Asian tariff-busting program. U.S. Trade Representative Susan Schwab will meet with her counterparts from the Association of Southeast Asian Nations...
Business News
ADB Wants Transparency In Projects, Will Make Public All Million Dollar Contracts
AHN
The Asian Development Bank on Tuesday launched fresh anti-corruption drive by issuing a directing ordering all contracts awarded by the bank will be made public and transparent. In a statement, ADB revealed all contracts worth more than $1 million were required to be made public by the borrowers...
Business News
Honda To Build Manufacturing Center For Asia In Thailand
AHN
Japanese carmaker Honda Motor said on Tuesday it will build a $32.7 million spare parts manufacturing center for Asia to meet the growing demand for spare body parts in the region. Asian Honda Motor, the Bangkok-based regional headquarters of the company said the target for the completion of the...
Business News
Warren Buffett To Auction His Car For Charity
AHN
Billionaire Warren Buffett is auctioning off his 2001 Lincoln Town Car on eBay to raise money for charity. The proceeds will benefit Girls Inc., a nonprofit youth organization that provides educational and recreational programs to girls....
Business News
Chain store sales fell 0.2 percent
YAHOO
Reuters - U.S. chain store retail sales fell in the latest week, as weekly chain store sales continued to move lower through August, a retail report said on Tuesday.
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Business News Wal-Mart marks progress in Japan market
YAHOO
AP - Wal-Mart's Japanese subsidiary said Tuesday its first-half losses grew fivefold, but the unit's chief executive reaffirmed his commitment to Japan even as the U.S. retailer abandons the German and South Korean markets.
Sources: YAHOO
Business News Toll Brothers posts lower earnings
YAHOO
Reuters - Luxury home builder Toll Brothers Inc. on Tuesday reported lower quarterly profit, hurt by falling orders and deteriorating market demand.
Sources: YAHOO
Business News InterContinental profit rises but shares slip
YAHOO
Reuters - The world's largest hotelier, InterContinental Hotels Plc , reported a 30 percent rise in half-year profits and healthy current trading, but its shares slipped on a lack of news about a cash return to shareholders.
Sources: YAHOO
Business News YouTube expands types of advertising: report
YAHOO
Reuters - Closely held YouTube Inc., a video Web site, is expanding the type of advertisements it sells to include videos on its home page and on special advertiser-created pages, the Wall Street Journal reported on Tuesday, citing company executives.
Sources: YAHOO
Business News Perry Ellis loss widens but beats estimates
YAHOO
Reuters - Perry Ellis International Inc. posted a wider second-quarter loss on Tuesday, though it was narrower than analysts had forecast.
Sources: YAHOO
Business News Wall Street seen up on stable oil
YAHOO
Reuters - Wall Street headed for a mixed opening on Tuesday, drawing strength from higher Asian and European bourses and stable oil prices, but the situation in Iran and comments by Fed officials will likely temper sentiment.
Sources: YAHOO
Business News Dell Chairman Says Recall Is Short-Term Setback
AHN
On a brief stopover, the founder and chairman of the computer maker Dell, Michael Dell, assured that the ongoing recall crisis is a short-term setback. "People tend to focus too much on what happened in the last 24 hours," Mr. Dell said. "I like to look at the last 24 years."...
Sources: AHN
Business News Freddie Mac To Pay $4.65 Million To Settle Lawsuit
AHN
Freddie Mac announces it will pay $4.65 million to settle a class-action lawsuit regarding its employee retirement plans. The suit was filed after the mortgage and finance company restated financial results for 2000 through 2002....
Sources: AHN
Business News Top AOL Executive Resigns Over Release Of Private Data
AHN
AOL's chief technology officer resigns after the company released private information about 650,000 subscribers. The internet service provider apologized for providing details of 20 million search queries by customers in the U.S. earlier this month....
Sources: AHN
Business News Lowe's cuts year forecast
YAHOO
Reuters - Retailer Lowe's Cos. on Monday posted a lower-than-expected second-quarter profit and pared its full-year forecasts as higher energy prices and a slowing U.S. housing market weigh on consumer spending.
Sources: YAHOO
Business News Stocks fall as oil jumps
YAHOO
Reuters - U.S. stocks fell on Monday, for the first time in six sessions, as a sharp rebound in oil prices and a disappointing outlook from Lowe's Cos. Inc., the No. 2 U.S. home improvement chain, raised fears about slower consumer spending.
Sources: YAHOO
Business News Oil holds ground as Iran nuclear deadline nears
YAHOO
Reuters - Oil held steady at $72.50 barrel on Tuesday, underpinned by Iran's determination to continue enriching uranium and run a risk of international sanctions.
Sources: YAHOO
Business News AOL chief technology officer resigns: sources
YAHOO
Reuters - AOL chief technology officer Maureen Govern, who oversaw the division responsible for accidentally releasing search data for more than a half a millions Internet users, has resigned from the company, according to an internal company memorandum.
Sources: YAHOO
Business News Honda builds parts plant in Thailand to meet demand
YAHOO
Reuters - Honda Motor Co. (7267.T), Japan's third-biggest car maker, said on Tuesday it is spending about 3.8 billion yen ($32.7 million) to build an auto parts plant in Thailand to keep pace with strong demand especially in Asia.
Sources: YAHOO
Business News China's aging population to slow economy: report
YAHOO
Reuters - China's one-child policy has led to an aging population and labor shortages that could undermine a key basis for the country's economic growth -- its seemingly endless supply of cheap workers, a newspaper said on Monday.
Sources: YAHOO
Business News Gates Foundation among MediaNews lenders
YAHOO
AP - The Bill & Melinda Gates Foundation was among a few dozen banks, insurance companies, mutual funds and other entities that loaned $350 million to MediaNews Group Inc. for its purchase of four newspapers from publisher McClatchy Co.
Sources: YAHOO
Business News Wal-Mart Japan loss shrinks
YAHOO
Reuters - Wal-Mart Stores Inc. Japanese unit Seiyu Ltd. (8268.T) said on Tuesday its first-half operating loss nearly halved on stronger same-store sales and lower costs, and it kept its full-year forecast for a sharp profit recovery that outstrips market expectations.
Sources: YAHOO
Business News ExxonMobil declares force majeure
YAHOO
Reuters - ExxonMobil on Friday announced it was joining ConocoPhillips in declaring force majeure on its Alaska oil shipments and cutting supplies to customers as a result of pipeline problems at Prudhoe Bay.
Sources: YAHOO
Business News Dollar rides higher on robust US retail data
YAHOO
AFP - The dollar got a lift from a sharp rebound in US retail sales which raised the possibility of US interest rates moving slightly higher.
Sources: YAHOO
Business News Dollar rises against major currencies
YAHOO
AP - The dollar rose against most major currencies Friday after a retail sales report came in above expectations and investors continued to seek safety in the U.S. currency.
Sources: YAHOO
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