AP Top Business News At 3:54 p.m. EDT
Stocks Fall As Traders Book Profits NEW YORK (AP) -- Stocks plunged from lofty heights Thursday after a European Central Bank official pointed to rising price risks and a major Wall Street bank lowered its expectations for Chinese Internet company Baidu.com....
Oil Rises Sharply on Inventory Report NEW YORK (AP) -- Petroleum futures rose sharply Thursday and oil prices passed $83 a barrel after the government reported an unexpected decline in crude oil inventories....
Retailers Report Slow September Sales NEW YORK (AP) -- Several of the nation's largest retailers cut their earnings forecasts Thursday after lingering summer weather and an uncertain economy kept consumers from shopping last month and left the big merchants with disappointing sales....
Other Possible Suitors Call Sallie Mae WASHINGTON (AP) -- The chairman of Sallie Mae on Thursday said the student lender has received calls from investors possibly interested in stepping in if the company cannot salvage its imperiled $25 billion buyout....
Trade Deficit Lowest in Seven Months WASHINGTON (AP) -- The falling dollar led more foreigners to buy American in August, helping to push the trade deficit down to the lowest point in seven months. That was welcome news for the Bush administration as it tries to deal with a Congress unhappy over huge trade imbalances and 3 million lost manufacturing jobs....
Infant Cold Medicines Pulled Off Market WASHINGTON (AP) -- Drug makers pulled cold medicines targeted for babies and toddlers off the market Thursday, leaving parents to find alternatives for hacking coughs and runny little noses just as fall sniffles get in full swing....
PepsiCo 3Q Profit Rises 17 Percent NEW YORK (AP) -- PepsiCo Inc., the huge beverage and snack foods maker, said Thursday its third-quarter profit rose 17 percent on the strength of its international division and a one-time tax benefit....
Safeway's 3Q Profit Rises 12 Percent SAN FRANCISCO (AP) -- Safeway Inc.'s third-quarter profit climbed 12 percent to match analysts' projections, the latest payoff from the grocer's recent recipe of cutting labor costs while spending on store improvements to attract more shoppers....
Wal-Mart CEO Defends Low-Cost Imports ROGERS, Ark. (AP) -- Chief Executive Lee Scott defended Wal-Mart's reliance on low-cost imports Wednesday against what he called emerging economic nationalism....
Size Matters, Condom Experts Told SEOGWIPO, South Korea (AP) -- As the world's top condom experts convene this week to update international standards, one American entrepreneur has a simple message: Size matters....
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