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General Motors Corp.’s string of labor problems could soon come to an end with a tentative agreement at a key assembly plant in Kansas City, Kan.
GM (GM, Fortune 500) reached the deal on a local contract with United Auto Workers Local 31 at the plant Tuesday evening, company spokesman Dan Flores said.
About 2,500 workers […]
Filed under: finance by Wolf
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Saks Inc., the operator of luxury chain Saks Fifth Avenue, reported Tuesday a 66% increase in first-quarter earnings compared with year-ago results depressed by one-time charges. It said increased discounting hurt profit margins, however.
The New York-based retailer also warned that the challenging economic environment will continue for the rest of the year as even […]
Filed under: legal by Wolf
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Companies suffered $9.5 billion in damage in last week’s quake in central China, the government said Monday.
Some 14,207 companies in Sichuan province and surrounding areas were damaged by the May 12 quake and 1,387 of their employees killed, a deputy industry minister, Xi Guohua, said at a news conference.
Independent estimates have put total losses […]
Filed under: economics by Wolf
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U.S. Treasury Secretary Henry Paulson said financial market conditions have improved to the point that they will be influenced more by economic forces such as housing than by the credit crisis.
“I expect that financial markets will be driven less by the recent turmoil and more by broader economic conditions, and specifically, by the […]
Filed under: online by Wolf
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IAC/InterActiveCorp and Liberty Media Corp. say they resolved a legal skirmish regarding IAC’s plans to break into several parts.
Liberty is dropping an appeal it filed that allowed it to dispute a March ruling by a Delaware judge who sided with IAC head Barry Diller on the breakup plans.
Liberty owns about 30% of IAC’s equity […]
Filed under: term by Wolf
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Thailand's economy probably maintained the fastest pace of growth in two years in the first quarter, central bank Governor Tarisa Watanagase said.
The Bank of Thailand will aim to “prevent inflation from damping economic recovery and derailing investment,'' Tarisa said at a seminar in Bangkok today.
Thailand's government is increasing spending and cutting taxes […]
Filed under: business by Wolf
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The U.S. Commerce Department sided with a Wisconsin papermaker in its complaint alleging illegal subsidies and dumping by China and Germany on imports of lightweight receipt paper.
In a preliminary determination, the Commerce Department found evidence to support assertions that imports from China and Germany are being dumped in the U.S. market in violation of […]
Filed under: online by Wolf
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Japan’s Takeda Pharmaceutical Co Ltd (4502.T: Quote, Profile, Research) posted a 77 percent drop in quarterly operating profit on Friday, and forecast a sharp fall in annual income on costs for its $8.8 billion purchase of U.S. biotech firm Millennium Pharmaceuticals.
The announcement pushed shares of Japan’s largest drug maker down 2.8 percent to 5,490 […]
Filed under: management by Wolf
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Google proved to be the final straw that broke Microsoft CEO Steve Ballmer’s back.
After weeks of threatening Yahoo (YHOO, Fortune 500) that the software giant would attempt a hostile takeover if the company refused its bid, Ballmer explained Saturday why he decided to withdraw his offer for the Internet portal. He was walking away […]
Filed under: business by Wolf
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Congress gave final approval Thursday to legislation aimed at ensuring the problems in the credit markets don’t prevent students from getting college loans.
The House passed the legislation in a 388-21 vote, one day after the Senate approved it. President Bush is expected to sign the measure.
"Today’s vote will help ensure that students’ dreams of […]
Filed under: legal by Wolf
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