AP Top Business News At 9:18 a.m. EDT
New jobless claims fall more than expected to 646K
WASHINGTON (AP) -- New jobless claims fell more than expected last week, but continuing claims set a new record for the eighth straight week and few economists expect the labor market to improve anytime soon.... GE expects finance unit to be profitable in 1Q
WASHINGTON (AP) -- General Electric Co. expects its struggling finance unit to be profitable in the first quarter of 2009 and for the full year.... FedEx 3Q earnings tumble on weak global economy
NEW YORK (AP) -- FedEx said Thursday its fiscal third-quarter profit tumbled 75 percent as severe weakness in the global economy offset the benefit of lower fuel prices. The company said it will eliminate more jobs and make other cutbacks to deal with the ongoing economic slowdown.... Jaguar, Buick dethrone Lexus in reliability study
NEW YORK (AP) -- British luxury carmaker Jaguar surged to the top of J.D. Power and Associates' closely watched vehicle dependability study this year, tying Buick for the No. 1 spot and dethroning Lexus for the first time since the Japanese luxury brand has been a part of the survey.... Wall Street heading for modestly higher open
NEW YORK (AP) -- Investors are poised to extend a rally Thursday after a report showed new unemployment claims dropped last week and a day after the Federal Reserve's said it would pump more than $1 trillion into the economy.... Oil trades above $51 as stock rallies boost hopes
VIENNA (AP) -- Oil bounded over the $50 a barrel hurdle with room to spare Thursday, as traders took heart from rallies in global stock markets as an indication of overall investor optimism.... Barnes & Noble 4Q profit drops as sales decline
NEW YORK (AP) -- Barnes & Noble says profit fell 29 percent in the fiscal fourth quarter as sales dropped off because consumers scaling back on book purchases. But adjusted results topped Wall Street's expectations.... China tests J&J baby shampoo for unsafe chemicals
SHANGHAI (AP) -- Shanghai's food and drug safety agency says it is testing Johnson & Johnson baby products following allegations they contain potential carcinogens.... House sets up vote today on taxing AIG bonuses
WASHINGTON (AP) -- The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.... Federal appeals court to hear Madoff jail argument
NEW YORK (AP) -- A federal appeals court is to get a chance to decide whether Bernard Madoff should remain in prison until he is sentenced for defrauding investors of billions of dollars.... |