Member 2159


Market extends gains late: S&P up 1 pct (Reuters)

16-05-2008 05h00
Reuters - Stocks extended their advance late in the session on Thursday, driving the S&P 500 up 1 percent, led by gains in the technology and retail sectors.

Icahn to battle Yahoo to accept Microsoft bid (Reuters)

16-05-2008 02h17
Reuters - Financier Carl Icahn on Thursday launched a proxy battle to force Yahoo Inc to reopen buyout talks with Microsoft Corp , saying the Yahoo board had acted "irrationally" in refusing its $47.5 billion offer.

CBS to buy web publisher CNET (Reuters)

15-05-2008 22h33
Reuters - CBS Corp said on Thursday it would buy web media company CNET Networks Inc for about $1.8 billion to boost the television broadcaster's reach across the Internet.

Bernanke urges banks to raise capital if needed (Reuters)

16-05-2008 00h24
Reuters - Recent turmoil in financial markets underscores the need for banks to hold "generous" capital cushions, U.S. Federal Reserve Chairman Ben Bernanke said on Thursday as he urged them to actively raise money.

General Electric looks to sell appliance unit: report (Reuters)

15-05-2008 21h04
Reuters - General Electric Co is looking to sell its appliance unit in an auction that could bring in $5 billion to $8 billion, The Wall Street Journal reported on its Web site on Wednesday.

Industrial output falls, second time in 3 months (AP)

16-05-2008 04h49
AP - Industrial output plunged in April as factories making everything from autos to heavy machinery felt the adverse effects of the weak economy. Analysts held out hope that production will revive in the second half of the year, helped by the government's economic stimulus checks.

French bank Natixis reports profit slump on another subprime hit (AFP)

15-05-2008 18h13
AFP - French investment bank Natixis said on Thursday its first-quarter earnings plunged 88 percent after it had to take further write-downs on its exposure to the US subprime home loan crisis.

JC Penney profit down 50 pct; sees difficult year (Reuters)

16-05-2008 02h03
Reuters - J.C. Penney Co Inc said on Thursday its first-quarter profit dropped 50 percent as the retailer cut prices to clear unsold merchandise, and it forecast a similar profit drop for its current quarter.
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