Monthly Archives: August 2011

Japan factory output falls short of expectations (AP)

Written on August 31, 2011 by Editor - Business News

TOKYO – Japan’s industrial production fell short of expectations in July as a strong yen, power shortages and slowing global economy compounded the struggle to recover from the March 11 earthquake and tsunami. The Ministry of Economy, Trade and Industry … Continue reading →

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New blow for BP in Russia as office raided (Reuters)

Written on August 31, 2011 by Editor - Business News

MOSCOW (Reuters) – Black-clad special forces raided BP’s Moscow offices on Wednesday, deepening the British company’s problems in Russia after its attempts to salvage an oil exploration agreement in the Russian Arctic collapsed. The raid, a day after ExxonMobil signed … Continue reading →

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Motorola deal offers Google tax, patent benefits (Reuters)

Written on August 31, 2011 by Editor - Business News

FAIRFIELD, Conn./CHAPEL HILL, North Carolina (Reuters) — Google Inc’s blockbuster acquisition of Motorola Mobility Holdings Inc will bring an unusual stable of tax and accounting benefits to the search-engine giant, already one of Corporate America’s most savvy users of such … Continue reading →

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Data shows softening in economy, no recession (Reuters)

Written on August 31, 2011 by Editor - Business News

NEW YORK (Reuters) – The pace of U.S. private sector job growth slowed in August for the second month in a row, but factory activity in the Chicago area continued to expand, suggesting the economy would dodge a recession. Private … Continue reading →

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U.S. moves to block AT&T, T-Mobile deal (Reuters)

Written on August 31, 2011 by Editor - Business News

WASHINGTON/NEW YORK (Reuters) – The U.S. government sued to block ATT’s $39 billion deal to buy T-Mobile USA because of anti-competition concerns, launching the biggest challenge to a takeover by the Obama administration. A failed deal would be expensive for … Continue reading →

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ConocoPhillips says 99 pct of China spill cleared

Written on August 31, 2011 by Editor - Finance Top Stories

SymbolPriceChangeCOP68.31+0.47{“s” : “cop”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” : “”,”j” : “”} SHANGHAI (AP) — Under fire for oil spills off China’s eastern coast, ConocoPhillips says it has finished collecting virtually all oil and drilling mud released into Bohai Bay, meeting a deadline … Continue reading →

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Portugal gov't cranks up debt reduction effort

Written on August 31, 2011 by Editor - Finance Top Stories

LISBON, Portugal (AP) — Portugal’s government plans “unprecedented” spending cuts next year to meet debt-reduction targets agreed in return for a euro78 billion ($112.7 billion) bailout, the country’s finance minister said Wednesday. Portugal has to abide by debt targets to … Continue reading →

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Strong autos drove July factory orders up 2.4 pct.

Written on August 31, 2011 by Editor - Finance Top Stories

In this July 27, 2011 photo, assembly line worker Edward Houie moves a door into position for a Chevrolet Volt at the General Motors Hamtramck Assembly plant in Hamtramck, Mich. Factory orders rose in July, helped by increased demand for … Continue reading →

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Justice Department blocks AT&T-T-Mobile merger

Written on August 31, 2011 by Editor - Finance Top Stories

SymbolPriceChangeS3.81+0.26T28.35-1.27{“s” : “s,t”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” : “”,”j” : “”} WASHINGTON (AP) — An administration official says the Justice Department is moving to block ATT’s $39 billion deal to buy T-Mobile USA. The government contends the acquisition of the No. 4Read … Continue reading →

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Natural gas rises as power demand returns in East

Written on August 31, 2011 by Editor - Finance Top Stories

NEW YORK (AP) — The price of natural gas is surging nearly 4 percent as lights flicker back on in the East following major outages caused by Hurricane Irene. The storm knocked out power to 9.4 million homes and businesses … Continue reading →

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