Business News

Toll Brothers sees lower home-building revenue
Reuters - 38 minutes ago
NEW YORK (Reuters) - Toll Brothers Inc (TOL.N: Quote, Profile, Research), the largest US luxury home builder, said on Tuesday it expects to report a 30 percent drop in home-building revenue for the quarter ended April 30.
Toll Brothers 2Q Home-Building Revenue Falls 30% To $817.9 Million CNNMoney.com
Toll Bros 2Q home building revenue falls sharply, but tops analyst ... Forbes
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UPDATE: Liz Claiborne Swings To 1Q Loss, Cuts Outlook
CNNMoney.com - 39 minutes ago
Liz Claiborne Inc. (LIZ) swung to a first-quarter net loss amid restructuring costs and lower sales in its partnered-brands division.
UPDATE 1-Liz Claiborne posts net loss, cuts year outlook Reuters
Liz Claiborne swings to 1Q loss on expenses Forbes
Houston Chronicle - New York Post - CNNMoney.com - Forbes
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Earthtimes (press release)

Oil prices slide for second day Tuesday
United Press International - 41 minutes ago
NEW YORK, May 13 (UPI) -- Crude oil prices, at less than $124 a barrel, corrected downward Tuesday on the New York Mercantile Exchange after a week of price runs.
Oil Falls for Second Day on Expectation of US Inventory Build Bloomberg
Oil below $124 a barrel as eyes turn to China The Associated Press
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Hewlett-Packard Agrees to Acquire Electronic Data (Update1)
Bloomberg - 41 minutes ago
By Connie Guglielmo May 13 (Bloomberg) -- Hewlett-Packard Co., the world's biggest personal-computer maker, agreed to buy Electronic Data Systems Corp.
HP confirms EDS deal CNNMoney.com
Business News Update Hewlett-Packard Buying EDS for $13.9B TheStreet.com
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CNN International

Finmeccanica says DRS Technologies acquisition price justified by ...
Forbes - 49 minutes ago
MILAN (Thomson Financial) - Finmeccanica SpA said the $5.2 billion price that it is paying to acquire DRS Technologies Inc is justified by the scope for revenue and cost synergies from combining the two businesses.
UPDATE 1-Italy's Mediobanca 9-month net up 10 percent Reuters
Finmeccanica Net Surges; Announces US Acquisition (Update1) Bloomberg
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The Money Times

Troubling Sounds: Big Radio Cos. Report Drop In 1Q
MediaPost Publications - 52 minutes ago
by Erik Sass, Tuesday, May 13, 2008 7:45 AM ET The radio industry produced another round of weak results in the first quarter of 2008, with revenues slipping at most of the big national broadcasters, in line with analysts' expectations.
Losses at XM and Sirius as They Pursue a Merger New York Times
Sirius CEO Karmazin is right to be mad at the FCC BloggingStocks
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Earthtimes (press release)

Wal-Mart Net Increases; Shares Fall on Forecast (Update3)
Bloomberg - 1 hour ago
By Chris Burritt May 13 (Bloomberg) -- Wal-Mart Stores Inc., the world's largest retailer, posted a higher first-quarter profit and forecast second-quarter earnings that may trail analysts' estimates as consumers strained by $3.70-a-gallon gasoline cut ...
Wal-Mart Stores 1Q earnings top analyst estimates by a penny ... Forbes
Wal-Mart profit rises 6.9 pct, beats Street view The Associated Press
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Hoku Scientific extends term of supply contract
Forbes - 1 hour ago
AP 05.13.08, 7:19 AM ET Hoku Materials Inc., a subsidiary of Hoku Scientific Inc., said Tuesday it extended the term of its polysilicon supply contract with China-based Solarfun Power Hong Kong Ltd.
Hoku Scientific, Inc. Reports Results for Fiscal Year and Fourth ... CNNMoney.com
Hoku amends supply contract Pacific Business News (Honolulu) Bizjournals.com
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Fortis profit dips; subprime losses outweigh ABN gain
Reuters - 1 hour ago
By Reed Stevenson AMSTERDAM (Reuters) - Belgian-Dutch financial services group Fortis (FOR.BR: Quote, Profile, Research) suffered a worse-than-expected 31 percent net profit fall in the first quarter, as credit crunch losses outweighed the impact of ...
Fortis Posts 31% Drop in Net, Wall Street Journal
Fortis reports 31-percent fall in 1st quarter earnings International Herald Tribune
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Turkish Press

Societe Generale, Fortis, Credit Agricole Report Lower Earnings
Bloomberg - 1 hour ago
By Fabio Benedetti-Valentini and Martijn van der Starre May 13 (Bloomberg) -- Societe Generale SA, Fortis and Credit Agricole SA, three of Europe's biggest banks, said first-quarter earnings declined after losses in the credit markets.
Paris shares down midsession; Credit Agricole drags bank stocks lower Forbes
SocGen 1Q net drops on exposure to US mortgages The Associated Press
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Business Wire (press release)

Amsterdam shares lower at midday in weak trade; Corporate Express ...
Forbes - 1 hour ago
AMSTERDAM (Thomson Financial) - Amsterdam shares were lower in quiet midday trade as US futures pointed to a lower opening on Wall Street, while Corporate Express bucked the trend after Stables upped its offer to 8 euros-per-share from 7.25 euros.
Corporate Express to Consider Staples' Sweetened Bid (Update1) Bloomberg
UPDATE: Corporate Express Will Talk to Staples About Bid CNNMoney.com
MarketWatch - International Herald Tribune - Reuters - Reuters UK
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Boston Globe

Cablevision chief: Deal will 'bolster' Newsday
Newsday - 1 hour ago
This story was reported by MARK HARRINGTON, JAMES T. MADORE, MELANIE LEFKOWITZ and THOMAS MAIER | It was written by HARRINGTON. E While acknowledging he is not a "newspaper man," Cablevision Systems Corp.
Cablevision to acquire Newsday for $650 million MarketWatch
Cablevision and Tribune reach deal for Newsday Reuters
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CNBC

Dollar holds gains ahead of retail sales data
MarketWatch - 2 hours ago
By William L. Watts, MarketWatch LONDON (MarketWatch) - The dollar held gains against most major counterparts Tuesday as traders awaited upcoming data on US April retail sales and comments from a number of Federal Reserve officials, including Fed chief ...
Dollar rose on Monday on Oil price dip and unexpected strong HSBC ... ACM
Dollar mixed before Bernanke speech AFP
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TopNews

Nissan Forecasts Biggest Drop in Profit in 9 Years (Update2)
Bloomberg - 2 hours ago
By Naoko Fujimura and Tetsuya Komatsu May 13 (Bloomberg) -- Nissan Motor Co., Japan's third- largest automaker, forecast the biggest drop in net income in nine years because of a stronger yen and weaker demand in the US, its most profitable market.
Nissan Motor Jan-Mar Net Profit Y137.6 Billion Vs Y82.2 Billion CNNMoney.com
Nissan Unveils New Business Plan Wall Street Journal
Forbes - The Associated Press - Reuters - AFP
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Ninemsn

Airbus Extends Delays on A380 Airliner Deliveries (Update3)
Bloomberg - 2 hours ago
By Andrea Rothman and Eric Burg May 13 (Bloomberg) -- Airbus SAS, two years behind schedule on the double-decker A380 plane, cut the model's delivery targets for three years, saying it can't automate production as quickly as planned after wiring ...
Airbus announces fresh delays to A380 deliveries MarketWatch
Airbus: 3-month delay on Air France A380 delivery Reuters
Wall Street Journal - International Herald Tribune - Forbes - The Associated Press
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Pravda

Intralot's US unit wins Ohio Lottery contract; financial terms ...
Forbes - 3 hours ago
ATHENS (Thomson Financial) - Greece's betting technology Intralot SA said its United States unit Intralot Inc. has won a 2-year contract to run the Ohio Lottery's gaming system services, but did not specify the financial terms of the contract.
Greece's Intralot signs Ohio lottery deal Reuters
Ohio Lottery proposes dropping Providence gaming firm Eyewitness News
Columbus Dispatch - The Plain Dealer - cleveland.com - WTTE - Palladium-Item
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KATU

Q&A: Gates Foundation CEO On Switch From Software to Charity
Wall Street Journal - 4 hours ago
By ROBERT A. GUTH On May 12, the Bill & Melinda Gates Foundation announced that it chose Jeff Raikes as its new chief executive, replacing Patty Stonesifer, who plans to retire from the foundation at the end of this year.
Gates Foundation Names New Chief New York Times
Raikes named CEO of Gates Foundation Bizjournals.com
Louisville Courier-Journal - Economist - InformationWeek
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CNBC

Clear Channel Sale Appears to Be Close
New York Times - 11 hours ago
By MICHAEL J. de la MERCED After a year of bickering and courtroom battles, Clear Channel Communications finally may be sold. The two private equity firms seeking to buy Clear Channel, the nation’s largest radio broadcaster, were close to settling with ...
Clear Channel Settlement May Be Near MediaPost Publications
UPDATE: Clear Channel Could Signal Merger Arb Funds' Comeback CNNMoney.com
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BBC News

Companies Rebuffed by High Court on Apartheid Suits (Update1)
Bloomberg - 15 hours ago
By Greg Stohr May 12 (Bloomberg) -- Dozens of companies must defend against lawsuits accusing them of helping South Africa's former apartheid regime repress blacks, after the stock holdings of US Supreme Court justices left them unable to hear a ...
2nd UPDATE: Supreme Court Lacks Quorum In Apartheid Appeal CNNMoney.com
South Africa: Apartheid Victims to Sue Multinationals AllAfrica.com
International Herald Tribune - Reuters - BBC News - The Associated Press
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ImClone Falls After Analyst Says Sell, Citing Data (Update1)
Bloomberg - 16 hours ago
By Robert Greene May 12 (Bloomberg) -- ImClone Systems Inc. dropped the most in eight months after an analyst at Morgan Stanley recommended that investors sell the shares in light of new research on the company's only product, the cancer drug Erbitux.
ImClone 'Eager' for Erbitux Data Release TheStreet.com
Drug stocks edge higher; downgrade hits ImClone MarketWatch
Forbes - Reuters - BloggingStocks - Forbes
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