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Front Page > Business Today > Business Briefly |
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Buffalo stock index declines - 3/3/2007
Buffalo stocks fell for the week. The Buffalo Bloomberg Stock Index fell $12.80, or 4.6 percent, to 264.74 in the past week. Forty-seven stocks fell, five rose and one was unchanged. The index has gained 1.3 percent in 2007 and 11 percent in the past year. |
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SEC files trading suit - 3/3/2007
DALLAS (AP) - Federal regulators charged Friday that unknown investors pocketed more than $5.3 million in illegal profits from insider trading before TXU Corp. announced it had agreed to be sold for $32 billion. |
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Ford to sell subsidiary - 3/3/2007
DEARBORN, Mich. (AP) - Ford Motor Co. said Friday it will sell a subsidiary that offers vehicle service contracts and related products to dealers to a private equity fund. Terms were not disclosed. |
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Lenders told to use caution - 3/3/2007
WASHINGTON (AP) - Federal bank regulators, worried about a surge in defaults on high-risk home mortgages, on Friday called on lenders to exercise caution in making subprime loans and strictly evaluate borrowers' ability to repay them. |
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GM seeks more time to file annual report - 3/2/2007
DETROIT (AP) - Pesky accounting problems have forced General Motors Corp. to delay filing its annual report with federal regulators until after the Thursday deadline. |
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Mortgage rates decline - 3/2/2007
WASHINGTON (AP) - Rates on 30-year mortgages fell for a second straight week to the lowest level since the beginning of the year. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.18 percent this week, down from 6.22 percent last week. |
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Bill helps form unions - 3/2/2007
WASHINGTON (AP) - Democrats rewarded organized labor Thursday for helping them retake control of Congress, approving a House bill that would make it easier to start unions against companies' wishes. |
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Laptop batteries recalled - 3/2/2007
RALEIGH, N.C. (AP) - Lenovo Inc. recalled about 100,000 laptop computer batteries Thursday, warning that they could overheat and cause a fire. The battery recall was the second for the company in the past six months and comes as Lenovo, the world's No. 3 computer maker, tries to gain ground on its better-known competitors. |
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Goodyear cutting benefits for white-collar employees - 3/1/2007
AKRON, Ohio (AP) - Goodyear Tire & Rubber Co. on Wednesday said it will freeze its pension plan for retail and white-collar employees and require them to pay more for medical benefits when they retire as part of a plan to slash overall costs by $1 billion by the end of 2008. |
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Syracuse mall gets financing - 3/1/2007
SYRACUSE (AP) - Developers have locked up more than half a billion dollars in financing for the first phase of a long-delayed expansion of the Carousel Center mall into the nation's largest retail and entertainment resort complex. |
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Pilots sue US Airways - 3/1/2007
PHOENIX (AP) - Frustrated with stagnant contract negotiations, US Airways and America West Airlines pilots filed a lawsuit Wednesday claiming that management is merging the carriers illegally. |
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Delphi deal still on track - 3/1/2007
DETROIT (AP) - A deadline for three private equity firms to back out of a deal to invest as much as $3.4 billion in struggling auto parts maker Delphi Corp. passed Wednesday without an agreement, but the firms will not pull out of the deal. |
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McDonalds to add drinks - 3/1/2007
CHICAGO (AP) - Smoothies, iced coffee and other specialty coffees could be added to the menu at U.S. McDonald's restaurants, a top executive of the world's largest restaurant chain said Wednesday. |
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In other business news - 3/1/2007
 AK Steel Holding Corp. said Wednesday it has reached a tentative settlement with union workers at its Middletown Works plant, ending a year-old lockout fought over the steelmaker's demands for lower labor costs. |
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Unexercised stock options gained $2 billion in value - 2/28/2007
NEW YORK (AP) - Last year's equities boom could pay off handsomely for chief executives at 100 large companies whose unexercised stock options gained a total $2 billion in value, according to a study released Tuesday. |
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McAfee lawyer charged - 2/28/2007
SAN FRANCISCO (AP) - McAfee Inc.'s former top lawyer was charged Tuesday with stock options tampering that muddied the finances of the computer security software maker. |
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Airbus faces showdown - 2/28/2007
PARIS (AP) - Airbus emerged from one damaging battle but looked set to plunge into another, as workers staged walkouts and threatened wider strikes over expected job losses, plant sales and other restructuring measures to be announced today. |
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Toyota expected to build plant in Mississippi - 2/27/2007
JACKSON, Miss. (AP) - Gov. Haley Barbour of Mississippi plans a major economic development announcement today amid reports the state will become home to a Toyota Motor Corp. manufacturing plant. |
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Treasury bills unchanged - 2/27/2007
WASHINGTON (AP) - Interest rates on short-term Treasury bills were unchanged in Monday's auction, with three-month bills remaining at the highest level in more than six years. The Treasury Department auctioned $21 billion in three-month bills at a discount rate of 5.035 percent, the same as last week. An additional $17 billion in six-month bills was auctioned at a discount rate of 4.950 percent, also the same as last week. |
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Recall involves brake lights - 2/27/2007
WASHINGTON (AP) - Volkswagen of America Inc. said Monday it would recall 790,000 vehicles because of problems with the brake light switch. The recall involves several vehicles: 1999-2006 model years of the Golf and GTI, 2001-2005 Jettas, 2001-2007 New Beetles and the 2004 R32. It expands upon a recall announced last year of some Jettas and New Beetles because of the same defect. |
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