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Stocks sank Wednesday as oil breached $123 per barrel, fanning investors’ concerns about the effects of rising prices on already strapped consumers.

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Rival Rejects a New Plan to Purchase Huntsman

29 Aug 2008 02:06:13 | By MICHAEL J. de la MERCED | Hexion Specialty Chemicals,Apollo Management LP
A proposal by a cadre of Huntsman chemical company shareholders to help close the sale of the company to Hexion Specialty Chemicals was rejected by Hexion.


AT&T’s Rivals Are Happy to Attack Over iPhone’s Network Woes

29 Aug 2008 02:04:22 | By LAURA M. HOLSON | AT&T Corp,iPhone,Apple Inc|AAPL|NASDAQ,Verizon Communications|VZ|NYSE,Wireless Communications
The debut of Apple’s iPhone 3G cellphones has been a public relations headache for AT&T, after complaints of dropped calls and poor network connections.


To Big Business, the Conventions Mean Opportunity

29 Aug 2008 02:03:21 | By LESLIE WAYNE | Conventions, National US,Advertising and Marketing,Politics and Government
To most people, the sight of tens of thousands people gathering for conventions may look like political events. But to corporate America, they are marketing opportunities.


Results at Novell Are Better Than Expected

29 Aug 2008 01:28:27 | By REUTERS | Novell Incorporated|NOVL|NASDAQ,Company Reports,Software
The business software maker Novell posted a quarterly loss but its results were better than expected, helped by an increase in sales of Linux software.


Profit at Tiffany Doubles on Sales in Asia and Europe

29 Aug 2008 00:04:46 | By THE ASSOCIATED PRESS | Tiffany & Company,Company Reports
The jewelry retailer Tiffany said its quarterly profit doubled, beating Wall Street expectations as sales rose by more than 10 percent in Asia and Europe


As Biomass Power Rises, a Wood-Fired Plant Is Planned in Texas

29 Aug 2008 00:03:56 | By KATE GALBRAITH | Electric Light and Power,Wood and Wood Products
The city of Austin, Tex., approved plans for a huge plant that will burn waste wood to make electricity, the latest sign of rising interest in a long-dormant form of renewable energy.


Stocks & Bonds: Reports Bring Optimism to Wall Street

28 Aug 2008 23:57:18 | By THE ASSOCIATED PRESS | Stocks and Bonds,Gross Domestic Product,United States Economy
Wall Street stocks rose after a better-than-expected reading on the gross domestic product and a decline in jobless claims reassured investors.


Fannie Mae Workers Watch Stock Plan Dwindle

28 Aug 2008 23:10:27 | By VIKAS BAJAJ and TARA SIEGEL BERNARD | Fannie Mae|FNM|NYSE,Freddie Mac|FRE|NYSE,Stock Options and Purchase Plans
The employees of Fannie Mae and Freddie Mac are reeling from financial blows as the mortgage finance companies lurch toward what could be a government bailout.


Cable (Quietly) Introduces an Elections Channel

28 Aug 2008 23:09:07 | By STEPHANIE CLIFFORD | Advertising and Marketing,Cable Television,Online Advertising
The cable industry has introduced an experimental political channel that gives advertisers a uniform way to buy time and measure the number of people watching.


Carmakers Deserve Loan Guarantees, G.M. Official Says

28 Aug 2008 21:40:46 | By NICK BUNKLEY | Lutz, Robert A,General Motors Corp|GM|NYSE,Automobiles
General Motor’s vice chairman, Robert A. Lutz, said the car companies need money to retool their plants but probably cannot raise enough capital on their own.


High & Low Finance: Economic Sense and Political Reality

28 Aug 2008 21:32:14 | By FLOYD NORRIS | Oil Petroleum and Gasoline,Prices Fares, Fees and Rates,Ford, Gerald Rudolph Jr,Energy and Power
In 1974, the country had a president who actually wanted to confront the issue of high oil prices and the proposals made then seem highly relevant now.


Dell’s Earnings Fell 17% in Quarter

28 Aug 2008 20:59:27 | By LAURIE J. FLYNN | Dell Inc|DELL|NASDAQ,Company Reports
The computer maker’s results surprised investors and caused a sell-off in Dell stock in after-hours trading.


Flights of Canadian Airline Are Canceled

28 Aug 2008 18:59:56 | By REUTERS
Flights operated by Zoom Airlines, a low-fare trans-Atlantic carrier, were canceled amid reports the privately held company filed for creditor protection in Canada and Britain.


Oil Prices Fall as Storm Heads Toward Gulf

28 Aug 2008 17:48:20 | By CLIFFORD KRAUSS | Gulf of Mexico,Oil Petroleum and Gasoline,Hurricanes and Tropical Storms
Oil producers and refiners began halting production and evacuating workers from facilities in the Gulf of Mexico, anticipating that Tropical Storm Gustav could pick up speed.


Chinese Officials Accused of Embezzlement

28 Aug 2008 17:27:19 | By DAVID BARBOZA | Politics and Government,Embezzlement,China
A report from China’s top auditor says that ten central government departments “misused or embezzled” more than $660 million last year.


Court Upholds Dismissal of Tax Case Against 13

28 Aug 2008 17:19:23 | By THE ASSOCIATED PRESS
The appeals court said the federal government interfered with KPMG’s practice of providing legal assistance to its employees by pressuring KPMG to limit or end the practice.


Struggling Lehman Plans to Lay Off 1,500

28 Aug 2008 16:59:22 | By JENNY ANDERSON and ERIC DASH | Lehman Brothers Holdings Inc|LEH|NYSE,Layoffs and Job Reductions
The ailing Wall Street bank plans to lay off as many as 1,500 employees, or nearly 6 percent of its work force, before it announces third-quarter results on Sept. 15.


2nd-Quarter G.D.P. Revised Higher

28 Aug 2008 14:09:22 | By MICHAEL M. GRYNBAUM
Gross domestic product increased at a 3.3 percent annual rate in the quarter, the government said. The revised reading was much better than its initial estimate of a 1.9 percent pace.


Sears Struggles Continue; Profit Falls 62%

28 Aug 2008 13:38:42 | By THE ASSOCIATED PRESS
The retailer also delivered a downbeat outlook, predicting that its sales and gross profit margins will continue to be pressured amid a difficult economic environment.


Quarterly Profit Up 18% at National Bank of Canada

28 Aug 2008 13:35:06 | By REUTERS
The bank cited better results in its financial markets and retail banking units, as well as a gain on the merger of Canada’s derivatives and stock-exchange operators.




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