Archive for October 16th, 2007

Bank profits, oil hit Wall St; Yahoo, Intel up late

Tuesday, October 16th, 2007

NEW YORK - United States stocks fell on Tuesday after disappointing results from Wells Fargo & Co and other large banks combined with soaring oil prices to sour the outlook for corporate profits.

Key UAW official, dissidents blast Chrysler deal

Tuesday, October 16th, 2007

DETROIT - The proposed contract between the United Auto Workers and Chrysler LLC has come under fire from a top union negotiator as well as dissidents who charged the tentative deal gives away too much to the newly private automaker.

Industrial output up, but capital flows out

Tuesday, October 16th, 2007

WASHINGTON - United States industrial production expanded slightly in September, showing a few resilience to a credit crunch that prompted a record flight by foreign investors from United States assets in August, according to separate reports released on Tuesday.

IBM 3rd-quarter earnings rise

Tuesday, October 16th, 2007

SAN FRANCISCO - IBM posted a 6 percent rise in quarterly profit on Tuesday on strength in its services and software businesses, but profit margins narrowed and hardware sales fell.

Delta Air CEO opens door to consolidation

Tuesday, October 16th, 2007

NEW YORK - Delta Air Lines Inc positioned itself as a purchaseer in the United States airline industry on Tuesday as its new chief executive has said the carrier wanted to take a leading role when the industry consolidates.

Morgan Stanley CEO doesn’t expect more write-downs

Tuesday, October 16th, 2007

NEW YORK - Morgan Stanley Chief Executive John Mack has said on Tuesday that, given recent improvements in financial markets, he does not expect the investment bank to take further write-downs on assets beyond what was announced last month.

Oil surges to record over $88 a barrel

Tuesday, October 16th, 2007

NEW YORK - Oil thundered to a new peak above $88 a barrel on Tuesday as investors eyeing supply concerns and tensions in northern Iraq extended the nine-dollar rally that started last week.

Airbus’s A400M plane delayed 6-12 months

Tuesday, October 16th, 2007

PARIS - Airbus is facing a delay of at least six months and possibly up to a year in deliveries of its A400M military airlifter, in the latest blow to the European planemaker as it rebounds from delays to its A380 passenger jet.