Member 4056


U.S. auto sales hit 15-year low (Reuters)

02-07-2008 07h29
Reuters - U.S. auto sales plunged in June to a 15-year low, but a month-end clearance sale helped General Motors Corp retain its No. 1 spot and steer clear of the wipeout many had feared, sending its shares higher.

Starbucks to cut up to 12,000 jobs, close 600 stores (Reuters)

02-07-2008 08h55
Reuters - Starbucks Corp said on Tuesday it plans to close 600 underperforming U.S. stores and cut up to 12,000 full- and part-time positions, as it copes with an economic downturn and increasing competition.

GM's sales surprise lifts Wall St., Starbucks up late (Reuters)

02-07-2008 06h02
Reuters - U.S. stocks rose on Tuesday, after embattled automaker GM surprised Wall Street with stronger-than-expected June sales and financial shares reversed earlier losses as investors scoured for bargains, overshadowing concerns about record oil prices.

Judge finds Wal-Mart violated Minnesota labour laws (Reuters)

02-07-2008 10h34
Reuters - A Minnesota judge has ruled that Wal-Mart Stores Inc violated state wage and hour laws, requiring employees to work off the clock, and the discount retailer could now face more than $2 billion in possible fines.

Fed must prevent wage-price spiral: Lockhart (Reuters)

02-07-2008 08h56
Reuters - The Federal Reserve must "react decisively" to stop inflation from pushing up wages, one of its top policy-makers said on Tuesday, dropping a clear hint about the possibility of interest-rate hikes ahead.

Economy - Tuesday (Investor's Business Daily)

02-07-2008 07h42
Investor's Business Daily - Treasury Sec'y Henry Paulson, in the midst of a 5-day European tour, said he discussed currencies and rising commodity costs with European Central Bank President Jean-Claude Trichet. He declined comment on a likely ECB rate hike this week, saying he respects central banks' independence.

U.S. wins court order for UBS Swiss bank records (Reuters)

02-07-2008 08h45
Reuters - A federal judge in Miami has authorized U.S. officials to seek information from UBS AG about U.S. taxpayers suspected of using Swiss bank accounts to evade income taxes, part of a probe that could crack open Switzerland's tradition of bank secrecy.
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