Archive for the ‘Business’ Category
Monday, September 8th, 2008
NEW YORK—Wall Street finally got what it's been angling for: a bailout of Fannie Mae and Freddie Mac that could aid a recovery of the broken U.S. housing market and arrest a slide in stock and credit markets worldwide.Overall, the move is a positive for banks around the world, including ...
Posted in Business | No Comments »
Monday, September 8th, 2008
NEW YORK (Reuters) - Standard & Poor's and Fitch Ratings on Sunday cut the ratings on preferred stock of troubled housing finance companies Fannie Mae <FNM.N> and Freddie Mac <FRE.N> to junk status after dividends were eliminated in a takeover by the U.S. government.S&P boosted its ...
Posted in Business | No Comments »
Monday, September 8th, 2008
NEW YORK—Efforts to bring oil and gas production back online in the Gulf of Mexico slowed Sunday as Hurricane Ike barreled toward the nation's energy complex, likely to be the second hurricane to slam into the Gulf in as many weeks.Royal Dutch Shell said it would keep staffing at its ...
Posted in Business | No Comments »
Monday, September 8th, 2008
NEW YORK—The stock market has lurched back near its July lows -- but Wall Street's concerns are a bit different now than they were then.In July, investors were vexed about record-high oil prices; since that time, crude has fallen nearly 28 percent. Back then, financial services companies were dragging down ...
Posted in Business | No Comments »
Monday, September 8th, 2008
PORTLAND, Maine—When the 1,020-foot Explorer of the Seas cruises through North Atlantic waters next year, it'll spend more time off the coast of New England and less time near Canadian shores, and it's not because of better vistas.Royal Caribbean International and other cruise lines have begun charting a new course ...
Posted in Business | No Comments »
Monday, September 8th, 2008
BAGHDAD—Iraq's Cabinet approved an initial gas agreement Sunday between the Oil Ministry and Royal Dutch Shell PLC to invest in a joint venture to tap natural gas in southern Iraq, a government statement said.The agreement calls for establishing a joint venture between the state-run South Oil Co. and Shell to ...
Posted in Business | No Comments »
Monday, September 8th, 2008
Olympian Michael Phelps' record-setting performance in Beijing has led to multimillion-dollar endorsement deals, but his road to marketing gold was paved years before he swam a lap in China.Phelps' marketing success this summer grows from a strategy his agent, Peter Carlisle of marketing powerhouse Octagon, has mapped out carefully over ...
Posted in Business | No Comments »
Monday, September 8th, 2008
MARKETING BOOST: Foodmakers are squeezed right now because of high commodity prices, but they're planning boosts in advertising this year. It comes as they're raising prices and in some cases shrinking products as a way to recoup these high costs.THE ANALYSIS: It makes sense, analysts say, since more consumers are ...
Posted in Business | No Comments »
Monday, September 8th, 2008
MILWAUKEE—Foodmakers may be worried about higher costs for key ingredients, pushing through price increases and still maintaining their profits. But for big names like Sara Lee, Kraft and others, these slim times don't mean doing away with their advertising budgets.While the food companies, like other large advertisers, pulled back on ...
Posted in Business | No Comments »
Monday, September 8th, 2008
TAIPEI, Taiwan—Taiwanese leaders sought to ease mounting complaints about the island's slowing economy on Sunday, the latest in a string of public apologies and promises to prop up consumer demand and investment.Taiwan's benchmark share index has dropped 26 percent this year, with a downturn in the global economy cutting demand ...
Posted in Business | No Comments »