Archive for August 11th, 2008
Monday, August 11th, 2008
Among the earnings stories for Monday, Aug. 11, from AP Financial News:NEW YORK (AP) -- Power producer Calpine Corp. said Monday it swung to a second-quarter profit on higher electricity rates and lower costs.HOUSTON (AP) -- Food distributor Sysco Corp. said Monday its fourth-quarter profit jumped 10 percent, helped by ...
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Monday, August 11th, 2008
Among the earnings stories for Monday, Aug. 11, from AP Financial News:MINNEAPOLIS (AP) -- Valspar Corp., which makes paints and coatings, said Monday its fiscal third-quarter profit fell 17 percent as one-time charges and rising sales costs offset strong growth in its coatings unit.WILTON, Conn. (AP) -- Greenfield Online Inc., ...
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Monday, August 11th, 2008
LONDON—Britain's shops are not renowned for customer service. In many stores, the cliche goes, the customer is always wrong.A new project hopes to make sure that the sales clerks will not only be right -- but better informed.Tens of thousands of workers in London's busiest shopping district, the West End, ...
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Monday, August 11th, 2008
NEW YORK—Standard & Poor's Ratings Services on Monday lowered the subordinated debt, preferred stock and risk-to-the-government ratings on Freddie Mac, citing continued concerns over the mortgage finance company's capital position in the wake of higher operating losses.S&P cut the subordinated debt and preferred stock ratings on Freddie Mac to "A-" ...
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Monday, August 11th, 2008
CHICAGO—Investment research firm Morningstar Inc. said Monday it has agreed to acquire Financial Computer Support Inc., a software provider to independent financial advisors.Chicago-based Morningstar did not disclose financial terms of its acquisition of the 27-year-old privately held firm, which has about 35 employees in Oakland, Md.Morningstar said Financial Computer Support's ...
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Monday, August 11th, 2008
NEW YORK—Credit ratings agency Standard & Poor's Ratings Services affirmed the senior debt ratings of Fannie Mae Monday but slashed its creditworthiness without government intervention.S&P is maintaining its "AAA/Stable/A-1+" senior debt rating on the mortgage financier because of the "explicit and implicit" support from the government, S&P said. Consequently, S&P ...
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Monday, August 11th, 2008
BATTLE CREEK, Mich.—Food maker Kellogg Co. said Monday that John Bryant, chief financial officer and president of the company's North American division, has been promoted to chief operating officer.Bryant will also continue as CFO.Chief Executive David Mackay was the last to hold the COO post. He left the position to ...
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Monday, August 11th, 2008
WHITE PLAINS, New York (Reuters) - Former hedge fund manager Samuel Israel agreed to plead guilty on Wednesday to bail-jumping after he faked his own death to avoid going to prison for defrauding investors.But the court delayed his formal plea until later in the day, when ...
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Monday, August 11th, 2008
NEW YORK (Reuters) - Freddie Mac on Wednesday posted its fourth straight quarterly loss as it braced for a prolonged housing crisis by setting aside twice as much money for bad loans and setting plans to slash its dividend by at least 80 percent.The worse-than-expected results ...
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Monday, August 11th, 2008
NEW YORK (Reuters) - Freddie Mac <FRE.N> on Wednesday posted its fourth consecutive quarterly loss, set plans to slash its common stock dividend and warned of more difficulty ahead amid the steepest U.S. housing market slump since the Great Depression.The second-biggest provider of U.S. residential mortgage ...
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