Business News

A Chinese bank teller holds up 100 Yuan notes, January 2007. China's economy grew a blistering 11.1 percent in the first quarter, prompting fears of possible overheating and a call for fresh measures to put the country on a more sustainable course.(AFP/File/Mike Clarke)
Enlarge Photo
AFP/File

China moves to let currency rise

AP - Fri May 18, 12:18 PM ET

BEIJING - China took steps Friday to let its currency trade more freely against the dollar and to cool its sizzling economy ahead of talks in Washington over Beijing's soaring trade surplus.

MARKETING

Fast food & clicks

Is online marketing making kids obese?

TAXES

Shelter shift

In quest for revenue, senate seeks to crack down on tax shelters.

SPENDING

Less plastic

Use your driver's license as a debit card.

ECONOMY

Big mouth?

Greenspan gets grief for doubting Bernanke.

Economy News

  • In this file photo a shopper carries bags as he crosses the street near the Macy's department store in New York, December 23, 2006. U.S. consumer sentiment unexpectedly improved in early May, as a favorable job outlook and a booming stock market muted the impact of record high gasoline prices, according to a poll published on Friday. (Keith Bedford/Reuters)
    Consumer mood improves unexpectedly early May Reuters - 1 hour, 30 minutes ago

    NEW YORK (Reuters) - Consumer sentiment took a surprise upturn in early May, as a favorable job outlook and a booming stock market muted the impact of record high gasoline prices, according to a poll published on Friday.

  • A Chinese bank teller holds up 100 Yuan notes, January 2007. China's economy grew a blistering 11.1 percent in the first quarter, prompting fears of possible overheating and a call for fresh measures to put the country on a more sustainable course.(AFP/File/Mike Clarke)
    China moves to let currency rise AP - Fri May 18, 12:18 PM ET

    BEIJING - China took steps Friday to let its currency trade more freely against the dollar and to cool its sizzling economy ahead of talks in Washington over Beijing's soaring trade surplus.

  • A moneychanger displays stacks of US dollar bills at a foreign exchange counter in Kuala Lumpur, 2006. The dollar rose close to a three-month pinnacle against the yen owing to brighter prospects for the US economy and Japan's weaker-than-expected first-quarter economic growth.(AFP/File/Tengku Bahar)
    Dollar holds close to three-month high against yen AFP - Fri May 18, 7:22 AM ET

    LONDON (AFP) - The dollar rose close to a three-month pinnacle against the yen on Friday owing to brighter prospects for the US economy and Japan's weaker-than-expected first-quarter economic growth, dealers said.

  • Construction workers build a new house in Palo Alto, Calif., in this May 15, 2007 file photo. Higher gas prices and a sluggish housing industry are taking a toll on the economy, a gauge of future U.S. economic growth showed on Thursday, May 17, 2007. The Conference Board said its index of leading economic indicators dropped 0.5 percent, higher than the 0.1 decline analysts were expecting. The reading is designed to forecast economic activity over the next three to six months. (AP Photo/Paul Sakuma, file)
    Economy may slow this summer, data show AP - Thu May 17, 11:07 PM ET

    NEW YORK - A gauge of future economic activity showed the U.S. economy will slow in coming months, reversing recent gains and suggesting higher gas prices and a sluggish construction industry are beginning to take their toll.

  • Visitors search for job possibilities on the Internet at Workforce Central Florida in Casselberry, Florida July 3, 2003. The number of Americans filing new claims for jobless benefits unexpectedly fell 5,000 last week, government data showed on Thursday, while a more reliable barometer of labor trends fell to its lowest in more than a year (Joe Skipper/Reuters)
    Manufacturing, claims data support steady rates Reuters - Thu May 17, 5:05 PM ET

    NEW YORK (Reuters) - Manufacturing activity in the U.S. Mid-Atlantic region accelerated in May, while new claims for jobless benefits unexpectedly fell last week, suggesting the economy might not be braking as sharply as initially thought.

Stock Markets News

  • Michel DeRosen, , center, President and CEO of ViroPharma Inc., attends the opening bell  at the Nasdaq marketsite with ViroPharma employees on Friday, May 18, 2007 in New York.  ViroPharma is a pharmaceutical company based in Exton, Penn. Stocks surged higher Friday after a reading on consumer sentiment proved stronger than expected. (AP Photo/Mark Lennihan)
    Stocks surge on corporate takeover news AP - 16 minutes ago

    NEW YORK - Stocks surged higher Friday as another round of corporate takeovers prodded investors to continue a largely uninterrupted buying streak.

  • Buy-out talk makes Kelda a top London gainer FT.com - 56 minutes ago

    Kelda, the owner of Yorkshire Water, was among the top performers as the FTSE 100 surged to a six and half year high.

  • Julius Baer speculation leads financials charge FT.com - 1 hour, 40 minutes ago

    Bid speculation among financial stocks helped European equity markets to a 6½-year high Friday with the FTSE Eurofirst 300 rising 1.1 per cent during the week to 1,600.25.

  • In this file photo pedestrians walk on Wall Street outside the New York Stock Exchange in New York March 5, 2007. (Eric Thayer/Reuters)
    Dow hits record high on takeovers Reuters - 1 hour, 54 minutes ago

    NEW YORK (Reuters) - Stocks advanced on Friday, sending the Dow to a record high and putting the S&P; 500 on track for a 7th straight week of gains, as more takeover activity and sentiment data boosted the outlook for equities.

  • The DAX share index at the Frankfurt stock exchange in 2006. Europe's main stock markets rose on speculation about possible private equity takeovers and further consolidation across a number of sectors.(AFP/DDP/File/Martin Oeser)
    European shares climb on takeover talk AFP - Fri May 18, 7:56 AM ET

    LONDON (AFP) - Europe's main stock markets rose on Friday on speculation about possible private equity takeovers and further consolidation across a number of sectors.

Earnings News

  • British Airways prepares for fine AP - 2 hours, 50 minutes ago

    LONDON - British Airways PLC on Friday admitted anticompetitive behavior while posting a net loss for its latest quarter.

  • Kohl's, Penney, Nordstrom profits grow AP - Fri May 18, 9:41 AM ET

    MILWAUKEE - Higher gasoline prices and a slow housing market may be weighing on the economy, but retailers don't seem to be worried.

  • Small cap stocks lead Tokyo lower FT.com - Fri May 18, 4:20 AM ET

    The Japanese market drifted further downwards on Friday afternoon following the peak of the earnings season, with small cap stocks hit particularly hard.

  • Nikkei slips as market loses direction FT.com - Thu May 17, 11:40 PM ET

    Tokyo stocks slipped in Friday morning trading with the market lacking direction after the peak of the corporate earnings season and major economic indicators.

  • The J. C. Penney store at the Westminster Mall near Denver, Colorado is seen February 24, 2005. J.C. Penney Co. reported higher quarterly profit on Thursday as branded merchandise available only at its stores buoyed sales. (Rick Wilking/Reuters)
    J.C. Penney 1Q profit increases AP - Thu May 17, 6:51 PM ET

    PLANO, Texas - J.C. Penney Co. posted a 13 percent increase in first-quarter income on strong sales of exclusive fashions, and the department store chain raised its profit outlook for the year on Thursday.

Industries

  • Midwest mulls gov't help with gasoline crunch Reuters - 42 minutes ago

    NEW YORK (Reuters) - Fuel marketers in the Midwest are considering asking for government help to ease a gasoline supply crunch that has pushed pump prices in the region well above the already record-high national average.

  • General Motors Corp. world headquarters is seen in downtown Detroit, Michigan July 1, 2005. China Automotive Systems Inc. is opening a Detroit-area office to sell steering systems to U.S. automakers as it looks to expand beyond China's own rapidly growing car companies, a member of the company's board said on Friday. (Rebecca Cook/Reuters)
    China Automotive targets U.S. automakers, exports Reuters - 1 hour, 44 minutes ago

    DETROIT (Reuters) - China Automotive Systems Inc. is opening a Detroit-area office to sell steering systems to U.S. automakers as it looks to expand beyond China's own rapidly growing car companies, a member of the company's board said on Friday.

  • AstraZeneca CEO David Brennan in a file photo. The Anglo-Swedish drugmaker said on Friday U.S. regulators had approved Seroquel XR, a once-daily version of its blockbuster schizophrenia drug. (Mike Finn-Kelcey/Reuters)
    AstraZeneca says U.S. approves once-daily Seroquel Reuters - Fri May 18, 2:42 AM ET

    LONDON (Reuters) - Anglo-Swedish drugmaker AstraZeneca Plc said on Friday U.S. regulators had approved Seroquel XR, a once-daily version of its blockbuster schizophrenia drug.

  • Jazz Pharma sets IPO at 6 mln shares, $24-$26 each Reuters - Thu May 17, 6:19 AM ET

    WASHINGTON (Reuters) - Jazz Pharmaceuticals Inc. on Thursday set its planned initial public offering at 6 million shares for an estimated price of $24 to $26 each.

  • Leading Business Experts Available for Live Talkbacks U.S. Newswire - 39 minutes ago

    Business experts from the University of Maryland's Robert H. Smith School of Business are now available for live, broadcast-quality television interviews directly from the school's campus. The business school has established a fiber-optic-equipped studio, outfitted with a professional camera, lighting, audio equipment and a dedicated fiber line connection to Verizon's Audio Visual Operations Center in Washington, D.C. and the Vyvx network for switching to broadcast outlets.

Opinion

  • Remember the Three Monkeys BusinessWeek Online - Fri May 18, 8:08 AM ET

    I went on a business trip with a team from my office, and a few of my co-workers didn't behave as professionally as they might have. I pretty much stayed in my room studying for an exam the whole trip, but other people had more fun, and now it's the talk of the office. How do I discuss this with my co-workers, or do you recommend that I stay mum on the topic?

  • Tuning Out Apple TV--for Now BusinessWeek Online - Thu May 17, 8:08 AM ET

    I got my first look at the Apple TV device the other day, and I have to say I liked what I saw. But it's unlikely I'll buy one anytime soon.

  • Is Online Marketing Making Kids Obese? BusinessWeek Online - Thu May 17, 8:08 AM ET

    Gabrielle Ayala, 10, takes good care of her virtual pet. She diligently logs online to Neopets.com to feed the cat-like creature ice cream, omelets, smoothies, jellies, and baked goods. For Gabrielle, the Web site is about fun. Some marketers, however, see such online kids communities as an opportunity to associate "fun" with snack foods from the likes of McDonalds , Kellogg's , Kraft Foods , and others.

  • Customers walk into a Wells Fargo bank branch in suburban Denver, Colorado October 18, 2006. Analysts at Keefe, Bruyette  and  Woods consider JPMorgan Chase  and  Co. and Wells Fargo  and  Co. as potential buyers of SunTrust, the seventh-largest U.S. bank. (Rick Wilking/Reuters)
    Rates, slower growth will force banks to merge Reuters - Thu May 17, 11:06 AM ET

    NEW YORK (Reuters) - A tough operating environment for U.S. banks, especially smaller ones, is likely to drive more of them to seek mergers this year in an effort to improve profits.

  • Gen Xers get a bad rap. They're often portrayed as slackers and runaway spenders who don't know how to work or save. Not so, says new research sponsored by Charles Schwab Corp., one of several financial services companies trying to draw a bead on this age 27-to-42 demographic. (Paul Szep/Reuters)
    Gen Xer more cynic than slacker Reuters - Wed May 16, 12:57 PM ET

    WASHINGTON (Reuters) - Gen Xers get a bad rap. They're often portrayed as slackers and runaway spenders who don't know how to work or save.

Most Popular Business News

  • World Bank President Paul Wolfowitz departs his home in Chevy Chase, Md., Friday, May 18, 2007. Wolfowitz said Thursday he will resign at the end of June, giving up his long fight to survive pressure for his ouster over the generous compensation he arranged for his girlfriend.  (AP Photo/J. Scott Applewhite)
    Wolfowitz departure: healing 1st step AP - 5 minutes ago

    WASHINGTON - The Wolfowitz episode hobbled the World Bank's work of aiding the poor, and Paul Wolfowitz's resignation was just the first step in a healing process. The Bush administration hopes to quickly name a successor to take over that effort.

  • Microsoft Chief Executive Officer Steve Ballmer speaks during his keynote speech at the Software 2007 conference in Santa Clara, California, May 9, 2007. Microsoft Corp. said on Friday it would buy aQuantive Inc. for about $6 billion, or $66.50 a share in cash, which represents an 85 percent premium to the online advertising company's closing price on Thursday. (Lou Dematteis/Microsoft Handout/Reuters)
    Microsoft to buy Web ad firm aQuantive Reuters - Fri May 18, 12:03 PM ET

    SEATTLE/NEW YORK (Reuters) - Microsoft Corp. said on Friday it would buy aQuantive Inc. for $6 billion, paying an 85 percent premium to snap up one of the last large independent companies in a consolidating Web advertising market.

  • China moves to let currency rise AP - Fri May 18, 12:18 PM ET

    BEIJING - China took steps Friday to let its currency trade more freely against the dollar and to cool its sizzling economy ahead of talks in Washington over Beijing's soaring trade surplus.

  • Understanding the Perils of E-Mail BusinessWeek Online - Wed May 16, 8:08 AM ET

    There's a new book out called Send: The Essential Guide to Email for Office and Home, by David Shipley, the deputy editorial page editor of The New York Times and editor of its Op-Ed page, and Will Schwalbe, the editor-in-chief of Hyperion, who is also my publisher and friend.

  • A kettle made with products from GE plastics in an undated file photo. General Electric Co. is in the final stages of selling its plastics unit for about $11 billion, more than many analysts expected, the Wall Street Journal reported in its online edition on Thursday. (General Electric Company/Handout/Reuters)
    Saudi company in lead to buy GE Plastics: source Reuters - Fri May 18, 11:10 AM ET

    BOSTON (Reuters) - Riyadh-based chemicals company Saudi Basic Industries Corp. (2010.SE) is in the lead to buy General Electric Co.'s plastics business, a source familiar with the situation said on Friday.