Archive for November 6th, 2007

Molson Coors profit falls on charges; shares

Tuesday, November 6th, 2007

NEW YORK - Molson Coors Brewing Co has said on Tuesday quarterly net profit fell slightly on one-time items and weak sales in Britain, helping to push the brewer’s shares down as much as 4 percent.

Yahoo chief verbally lashed over Chinese dissident

Tuesday, November 6th, 2007

WASHINGTON - Yahoo Inc’s chief executive was verbally lashed by United States lawmakers on Tuesday over the Internet company’s role in helping identify a Chinese dissident who was later imprisoned by the government.

GM to take $39 billion non-cash charge

Tuesday, November 6th, 2007

LOS ANGELES - Automaker General Motors Corp has said on Tuesday it would book a $39 billion non-cash charge in the third quarter related to deferred tax assets in the United States, Canada and Germany.

Much slower growth needed for rate cut: Fed’s Plosser

Tuesday, November 6th, 2007

NEW YORK - Philadelphia Federal Reserve Bank President Charles Plosser, who indicated a reluctance to lower rates at the Fed’s last rate-setting meeting, has said it would take a drastic fall in economic growth for him to support another rate cut.

Ex-Freddie Mac CEO to return millions in settlement

Tuesday, November 6th, 2007

WASHINGTON - Leland Brendsel, the former chief executive of Freddie Mac , will forego or return over $15 million in compensation in a settlement announced by the mortgage finance company’s regulator on Tuesday.

Microsoft fires CIO for rules violation

Tuesday, November 6th, 2007

SEATTLE - Microsoft Corp. has said on Tuesday it dismissed Chief Information Officer Stuart Scott, who ran the company’s own info technology department, for violating unspecified company policies.

Citigroup names Stuckey subprime portfolio chief

Tuesday, November 6th, 2007

NEW YORK - Citigroup Inc on Tuesday named Richard Stuckey, who helped stabilize the Long-Term Capital Management LP hedge fund, to fix its troubled subprime mortgage portfolio, which is expected to record a fourth-quarter loss for the largegest United States bank.

Nasdaq to purchase Philadelphia exchange: sources

Tuesday, November 6th, 2007

NEW YORK - Nasdaq Stock Market Inc has agreed to purchase the Philadelphia Stock swap, which operates the third-largegest United States equity options market, for about $650 million, two people familiar with the matter has said on Tuesday.