News blog
Pier 1 Imports Inc. said Thursday it swung to a fiscal fourth-quarter profit, helped by improved gross profit margins, higher same-store sales and lower expenses.
The home furnishing retailer reported earnings of $13.7 million, or 16 cents per share, compared with a loss of $58.7 million, or 67 cents per share, in the prior year.
Analysts […]
Filed under: economics by Wolf
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Chrysler LLC is recalling 212,347 Chrysler Sebring and Dodge Avenger passenger cars worldwide to fix an electrical problem that could lead to engine stalling and other issues.
The National Highway Traffic Safety Administration said in a posting on its Web site the recall involves 2007-2008 Sebring and Avenger vehicles with standard tire pressure monitoring systems.
NHTSA […]
Filed under: money by Wolf
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The International Monetary Fund’s executive board has approved a broad financial overhaul plan that could lead to the eventual sale of a little over 400 tons of its substantial gold supplies.
The sale cannot occur without congressional approval as well as legislative action in many of the 184 other nations that are members of the […]
Filed under: money by Wolf
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The government of Japan plans to propose that the Bank of Japan’s interim governor, Masaaki Shirakawa, be named central bank head to ensure attendance at a key international finance meeting next week, media reports said Friday.
The governor’s post has been vacant since March 19 because of a parliamentary deadlock over finding a successor. The […]
Filed under: online by Wolf
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Osborn & Barr, one of the country’s largest agricultural marketing agencies, will move its headquarters to downtown St. Louis from Clayton.
After a yearlong search for new space, the 20-year-old agency has selected the Ballpark Lofts I, Cupples 9 Building. It will be joined by Adamson Advertising, another Clayton-based agency, after the building is […]
Filed under: news by Wolf
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Four days before Bear Stearns (BSC.N: Quote, Profile, Research) was forced to seek emergency funding, its chief executive was desperately trying to stop rumors that the investment bank was running out of money.
But even though the company had enough capital, speculation fueled the market. Panicked clients pulled out their money and refused to do […]
Filed under: online by Wolf
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Rio Tinto’s (RIO.L: Quote, Profile, Research) (RIO.AX: Quote, Profile, Research) portfolio of growth projects will drive its shares up faster than those of its rival BHP Billiton (BHP.AX: Quote, Profile, Research) (BLT.L: Quote, Profile, Research), Rio Chief Executive Tom Albanese said on Thursday, undermining the case for BHP’s all-stock hostile takeover offer.
“As time goes […]
Filed under: legal by Wolf
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General Motors Corp. is closing a sedan plant in the Detroit area as a result of the monthlong strike at parts supplier American Axle.
GM (GM, Fortune 500) said Monday the shutdown of the Hamtramck assembly plant will affect 1,849 hourly workers. It is the 29th plant to be fully or partially shut down because […]
Filed under: legal by Wolf
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The founder of JetBlue Airways announced a new Brazilian airline on Thursday, to begin operating next year with three jets and eventually grow to a fleet of 76 planes flying nationwide.
JetBlue (JBLU) chairman David Neeleman said the opportunity is clear: Latin America’s largest nation has a growing passenger travel market dominated by two airlines […]
Filed under: business by Wolf
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