Recent Updates
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Sprint posts big loss, stops dividend
Business Law 02/28/2008Sprint has lost tends of thousands of key customers to rivals such as AT&T Inc. and Verizon Wireless, hurt by poor customer service and lackluster selection of handsets. The company recently hired a new chief executive, Dan Hesse, to fix its aili...
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Retail sales stage unexpected rebound
Business Law 02/13/2008Sales at retailers unexpectedly rose 0.3 percent in January, partly reflecting stronger sales of new cars and gasoline, according to a Commerce Department report on Wednesday.January's sales increase followed a 0.4 percent decline in December and was...
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US DOJ won't appeal Stolt-Nielsen decision
Business Law 12/24/2007The U.S. Justice Department said on Friday it will not appeal the dismissal of its indictment of Norwegian shipping group Stolt-Nielsen in a price fixing case.Earlier this month, a Pennsylvania court threw out a criminal indictment against the compan...
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Shoppers rush to stores before Christmas
Business Law 12/24/2007The nation's shoppers -- taking advantage of deep discounts and expanded hours -- jammed stores over the last weekend before Christmas to try to grab a hard-to-find Wii or scoop up bargains on other items. But the spending surge may not be enough to ...
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News Corp. to sell 8 TV stations for $1.1 billion
Business Law 12/23/2007News Corp., the media company controlled by Rupert Murdoch, will sell eight of its Fox network-affiliated television stations in the U.S. to Oak Hill Capital Partners for about $1.1 billion in cash.The sale in small markets will leave News Corp. with...
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Investors Focus on Housing Data and Fed
Business Law 12/16/2007Stock investors smarting from months of volatility are hoping this holiday-shortened week provides signs of a badly-needed yearend rally. The days leading up to Christmas -- which in recent years have been positive for stocks -- will bring readings o...
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Qantas plead guilty to price-fixing
Business Law 11/28/2007Australian airline Qantas Airways has agreed to plead guilty to fixing prices in international air cargo shipments and pay a 61-million-dollar fine, the US Justice Department said Tuesday.Between June 2000 and February 2006, Qantas engaged in a consp...
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Virgin Mobile sinks with wider 3Q loss
Business Law 11/16/2007Despite an analysts' upgrade, shares of Virgin Mobile USA Inc. fell Friday to their lowest point since the company's recent trading debut after the company said its third-quarter loss widened as operating expenses rose.The wireless service provider's...
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Wall Street Falls After Merrill Report
Business Law 10/24/2007Stocks fell in early trading Wednesday as Wall Street grew more cautious after Merrill Lynch & Co.'s earnings revealed severe credit-related losses.The investment bank said it wrote down $7.9 billion in fixed-income instruments called collaterali...
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Charles Schwab 3rd-Quarter Profit Soars
Business Law 10/15/2007Brokerage firm Charles Schwab Corp. said Monday its third-quarter earnings soared, mainly due to a big gain on the sale of its U.S. Trust wealth management business.Schwab reported earnings of $1.53 billion, or $1.28 per share, for the quarter ended ...
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Nomura to exit U.S. residential mortgage securities
Business Law 10/15/2007Nomura Holdings, Japan's largest brokerage, said it would pull out of the U.S. residential mortgage-backed securities market and cut a quarter of its U.S. workforce, pushing it to a big quarterly loss.Nomura is the latest global investment bank force...
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Fox challenges CNBC with new biz channel
Business Law 10/15/2007Rupert Murdoch has entered a dark horse in high-stakes races before, and won. On Monday, the News Corp. media titan trots out the Fox Business Network. Two years in the making, the channel will challenge General Electric Co.'s highly profitable CNBC ...