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Economic downturn predicted to pinch cruise line profits
New York - The world's largest cruise line company Carnival Corporation on Thursday cut its profit outlook for the year as the economic downturn cuts into the budgets of holiday travellers. For the 2008-09 business year, the company lowered its outlo...
[Posted
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2008-12-18 ] Category : [
US (Business) ]
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White House mulls structured bankruptcy for automakers
Washington - US President George W Bush Bush is weighing whether to endorse a structured bankruptcy for ailing automakers to prevent a disorderly collapse of the industry, the White House said Thursday. The president is not going to allow a disord...
[Posted
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2008-12-18 ] Category : [
US (Business) ]
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FedEx cuts costs as earnings come under pressure
New York - FedEx said Thursday it would trim salaries and take other cost cutting measures as the economic recession cuts into business at the second-largest US package shipper. The announcement came as FedEx said earnings rose 3 per cent to 493 mill...
[Posted
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2008-12-18 ] Category : [
US (Business) ]
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US leading indicators continue decline
Washington - A key gauge of US economic performance dropped in November as unemployment rose, stocks fell and the housing downturn continued to gather steam amid an economic recession. The private Conference Board on Thursday said its index of leadin...
[Posted
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2008-12-18 ] Category : [
US (Business) ]
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General Motors denies merger talks with Chrysler
New York - Ailing US automotive giant General Motors denied reports Thursday that it was holding merger talks with its likewise stricken competitor, Chrysler. A GM spokesman at company headquarters in Detroit, Michigan said there were clearly no talk...
[Posted
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2008-12-18 ] Category : [
US (Business) ]
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Wall Street fraudster Madoff under house arrest - Summary
New York - Bernard Madoff, the high-flying Wall Street investor charged with a 50-billion-dollar fraud, was placed under house arrest on Wednesday. Madoff, 70, will be required to wear a tracking device and be subject to a curfew, while his wife told...
[Posted
on :
2008-12-18 ] Category : [
US (Business) ]
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Nike quarterly profits boosted by Europe, Asia sales
Washington - Nike Inc, the world's leading sporting goods manufacturer, said Wednesday that its second-quarter profits were up largely because of sales in Europe and Asia. Nike's second-quarter net income rose 9 per cent to 391 million dollars, compa...
[Posted
on :
2008-12-18 ] Category : [
US (Business) ]
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