Member 576


Economy extends job loss streak (Reuters)

03-07-2008 22h45
Reuters - U.S. employers cut workers from their payrolls for a sixth straight month in June for the longest losing streak for the labor market since 2002, and a jump in first-time claims for jobless benefits points to more weakness ahead.

S&P 500 in bear market territory after data (Reuters)

03-07-2008 23h19
Reuters - Stocks fell on Thursday, pushing the S&P 500 index below a level that signifies the onset of a bear market, after a report showed an unexpected contraction in the U.S. services sector in June.

Don't blame the buck for high oil price: Paulson (Reuters)

03-07-2008 20h10
Reuters - A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin specters of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson said on Thursday.

Penn National says takeover deal terminated (Reuters)

03-07-2008 22h55
Reuters - Casino and racetrack operator Penn National Gaming Inc said on Thursday its $6.1 billion takeover pact has been terminated, marking the latest leveraged buyout to crumble amid the tight credit markets and weak U.S. economy.

$6.5 billion in losses seen for airline industry (Reuters)

03-07-2008 21h50
Reuters - Calyon Securities's Ray Neidl widened his second-quarter and 2008 loss estimates for some large U.S. carriers, and forecast an industry-wide loss of about $6.5 billion for the year, saying fuel costs had increased faster than expected.

Employers cut jobs for sixth straight month (AP)

03-07-2008 23h10
AP - Employers cut payrolls by 62,000 in June, the sixth straight month of nationwide job losses, underscoring the economy's fragile state. The unemployment rate held steady at 5.5 percent.

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.

Blockbuster may do Circuit deal later: report (Reuters)

03-07-2008 18h45
Reuters - Blockbuster Inc , which abandoned its offer to buy Circuit City Stores Inc this week, may try to acquire the electronics retailer later, the New York Post said Thursday citing insiders.
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