EU calls for resumption gas supplies
Published on: 01/07/09 The Associated PressThe European Union has called on political leaders in Russia and Ukraine to restore gas supplies to EU member states.
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Russia stops all gas supply to Europe via Ukraine
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Russia has shut off all its gas supplies to Europe through Ukraine - the latest move in a pricing dispute that has reduced or halted fuel deliveries to a dozen countries during a winter cold snap.
Euro crosses $1.36 in European trading
Published on: 01/07/09 AP Business WriterThe euro recovered some of its strength against the U.S. dollar Wednesday, rebounding from a three-week low and crossing $1.36 in early afternoon European trading.
Conservation groups threaten suit over oil shale
Published on: 01/07/09 Associated Press WriterEnvironmental groups are threatening to sue the federal government to block plans for commercial oil shale development on nearly 2 million acres of public land in Colorado, Utah and Wyoming.
Thai economic ministers extend stimulus measures
Published on: 01/07/09 The Associated PressThailand's newly appointed Cabinet ministers overseeing the economy have approved a supplementary budget of 100 billion baht ($2.87 billion) to help extend economic stimulus measures that were to expire on Jan. 31.
Hyundai shortens workweek at Czech plant
Published on: 01/07/09 The Associated PressSouth Korean automaker Hyundai Motor Co. said Wednesday it is cutting work hours at its Czech Republic plant because of falling European car demand.
China issues 3G mobile phone licenses
Published on: 01/07/09 The Associated PressChina assigned third-generation mobile phone licenses Wednesday to three carriers in a long-awaited step that is expected to prompt $41 billion in spending on new equipment.
China Mobile Ltd.Taiwan cuts interest rate after exports drop
Published on: 01/07/09 The Associated PressTaiwan's central bank cut the island's key lending rate by half a percentage point Wednesday, its sixth rate cut in three and half months, to support the export-dependent economy.
UK retailer Marks & Spencer to cut 1,230 jobs
Published on: 01/07/09 The Associated PressU.K. retailer Marks & Spencer Group PLC said Wednesday it will cut 1,230 jobs and close 27 of its stores in a drive to reduce costs, as Britain's retail sector continues to struggle.
Japan stocks up for 7th day on hopes for US plan
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Japanese stocks rose for a seventh straight trading day on Wednesday on optimism over a U.S. economic stimulus plan. Exporters like Panasonic and Honda also gained as the yen weakened, inflating their overseas income.
German jobless rate up to 7.4 percent
Published on: 01/07/09 The Associated PressGermany's unemployment rate rose to 7.4 percent in December from 7.1 percent in the previous month as the economic crisis began to bite, according to official figures.
Arkansas Farm Bureau backs animal cruelty bill
Published on: 01/07/09 Associated PressThe Arkansas Farm Bureau has announced it will back legislation to make aggravated animal cruelty a felony on first offense, reversing its opposition to past efforts to stiffen the state's animal cruelty penalties.
Satyam Computer head quits, admits doctoring books
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The chairman of India's Satyam Computer Services Ltd. quit Wednesday after admitting the company's profits had been doctored for several years, shaking faith in the country's corporate giants as shares of the software services provider plunged nearly 80 percent.
Oil dips as traders weigh demand signs, Gaza clash
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Oil prices dipped to near $48 a barrel Wednesday as investors weighed tensions in the Middle East and more bad U.S. economic news suggesting slowing crude demand.
New data show December was a struggle for stores
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More evidence showed that December was a struggle for retailers in the deteriorating economy, though business improved somewhat in the days after Christmas as shoppers took advantage of even bigger deals.
SKorean 2008 auto output falls amid global crisis
Published on: 01/07/09 The Associated PressSouth Korea's vehicle production fell in 2008 for the first time in seven years, manufacturers said Wednesday, as the global financial crisis shrunk demand.
World markets mixed as Indian stocks plunge
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Asian markets were mixed Wednesday as Japan's key index rose for a seventh day but Indian shares tumbled after the chairman of major outsourcing company Satyam Computer admitted to falsely inflating profits for years. European markets opened lower.
Honda to delay production in Argentina
Published on: 01/06/09 The Associated PressHonda Motor Co. said Wednesday it will delay the start of production at its first plant in Argentina for more than six months in the automaker's latest step to cope with a plunge in sales amid a deepening global downturn.
Bank of America sells shares in Chinese bank
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Bank of America Corp. raised more money Wednesday to cope with U.S. economic turmoil by selling part of its stake in China Construction Bank Ltd., China's second-biggest commercial lender, for $2.8 billion.
Baidu Web site apologizes for pornography charge
Published on: 01/06/09 The Associated PressChina's most popular search engine Baidu apologized Wednesday for hosting links to pornographic content after it was criticized by the government, saying it was sorry for the negative impact on society.
Reports: Chinese tycoon's wife detained in probe
Published on: 01/06/09 The Associated PressThe wife of billionaire Chinese appliance retailer Wong Kwong-yu has been detained as police investigate Wong for possible financial offenses, according to news reports.
Goody's liquidates remaining US stores
Published on: 01/06/09 AP Retail WriterDiscount clothing chain Goody's Family Clothing will begin liquidating its stores on Friday as the retailer becomes one of the year's first victims of the worsening economy.
W.Va. judicial ethics case draws array of allies
Published on: 01/06/09 Associated Press WriterAn unusual alliance between public interest groups, corporate giants and even ex-judges has formed in a U.S. Supreme Court case over the ethics of a West Virginia judge who ruled in favor of a campaign contributor's company.
Latin American stocks rise on commodity, US surge
Published on: 01/06/09 The Associated PressLatin American stocks rose Tuesday as prices for most of the region's commodity exports climbed and U.S. stocks rallied to a two-month peak.
Top municipal-bond mutual funds at a glance
Published on: 01/06/09 The Associated PressA look at some top-rated municipal-bond funds as screened by Morningstar. All are national intermediate-term funds (average bond maturity between five and 12 years) with expenses lower than the category average, a minimum initial investment of $3,000 or less, and no front or deferred load:
Developer hopes to bait big fish with Bentley
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If you build it, they will come. If you want them to buy it, throw in a free $200,000 Bentley.
Muni bond jitters mean bargain prices for buyers
Published on: 01/06/09 AP Personal Finance WriterThe idea of a boring, safe investment has never sounded so good after a year in which everything from stocks to real estate got flat-out clobbered.
World's biggest beer maker to shut ancient brewery
Published on: 01/06/09 The Associated PressThe world's largest brewer said Tuesday it plans to close a historic 600-year-old brewery on the banks of the river Thames in London.
Foundations help nonprofits hurt in Madoff affair
Published on: 01/06/09 AP Business WriterNonprofits that are struggling because their donors lost money with Bernard Madoff are getting a bailout - but not from the government. Richer foundations are stepping in to help.
LyondellBasell units file for bankruptcy
Published on: 01/06/09 AP Business WriterThe U.S. arm of chemical giant LyondellBasell Industries has filed for bankruptcy as the recession continues to weaken demand for its products, which are used in everything from cars to detergents.
