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BNET Industries gives managers and executives comprehensive daily news and insights for the advertising, automotive, energy, financial services, food, health care, media, pharmaceutical, retail, technology, and travel industries. We bring you critical analysis on new products, executive and board management changes, lawsuits and legal settlements, mergers and acquisitions, deal flow and new investment, and dozens of other crucial business issues.
Industry Articles
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Manufacturing
FTSE Lower as Banks' Woes Deepen
By Jason Benham LONDON (Reuters UK) - The FTSE 100 fell on Thursday as writedown fears pulled banking stocks lower to extend their recent weakness, while miners also proved a drag on the index. By 9:42 a.m., blue-chip index was down 69.5 points, or 1.1 ...
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Manufacturing
Strong Demand Lifts Bayer Past Profit Estimates
By Mantik Kusjanto MANNHEIM, Germany (Reuters) - Bayer's (BAYG) quarterly profit surged ahead of market expectations thanks to strong demand for its prescription drugs and farming products, sending its shares to a two-month high on Thursday. "The very good first quarter also strengthens...
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Pharma
AstraZeneca Nudges Up Guidance But First Quarter Sales Light
LONDON (Reuters UK) - AstraZeneca (AZN) nudged up its forecast for 2008 earnings on Thursday following a solid first quarter, helped by strong sales of schizophrenia drug Seroquel. Increases of 10 percent in revenues and 19 percent in "core" earnings per share (EPS) were helped by...
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Financial Services
Hyundai Profit Misses Forecast
By Cheon Jong-woo SEOUL (Reuters) - Hyundai Motor Co , South Korea's top auto maker, missed forecasts with a 28 percent rise in first quarter profit as foreign exchange losses and higher raw material costs weighed, sending its shares down over 4 ...
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Retail
Stock Futures Weaken Ahead of Big Earnings Day
LONDON (Reuters) - Stock futures weakened early on Thursday as investors prepared to plough into a fresh flurry of corporate results for clues about how much a crisis in the credit markets is hurting industrials. At 0900 GMT, futures for the Dow Jones...
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Food
Barclays Q1 Profits Down as Market Turmoil Bites
By Steve Slater LONDON (Reuters) - Profits at Barclays Plc, Britain's third biggest bank, were well below those of a year earlier in the first quarter after its investment bank and fund management arms were hit by tough financial market conditions. In comments...
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Financial Services
Credit Suisse Hit By Further $5 Billion Writedown
By Douwe Miedema ZURICH (Reuters) - Credit Suisse notched up a further 5.3 billion Swiss francs ($5.26 billion) of credit-linked writedowns but its core rich clients kept their money at the bank unlike those of rival UBS. Markets had stabilised in April but...
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Food
Barclays First Quarter Profits Down
By Steve Slater LONDON (Reuters UK) - Profits at Barclays were well below those of a year earlier in the first quarter after its investment bank and fund management arms were hit by tough financial market conditions. In comments released before the bank's annual shareholder ...
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Financial Services
Credit Suisse Hit By Further $5 Bln Writedown
By Douwe Miedema ZURICH (Reuters UK) - Credit Suisse notched up a further 5.3 billion Swiss francs (2.6 billion pounds)) of credit-linked writedowns but its core rich clients kept their money at the bank unlike those of rival UBS. Markets had stabilised in April but Credit...
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Energy
Meatball and Steak Gives Domino's a Strong Start
LONDON (Reuters UK) - Pizza chain Domino's Pizza (DOM) reported on Thursday a strong start to the year, and expects results to be ahead of market expectations. Introducing new pizzas like "Meatball Mayhem" and "Steak Special", part of its yearly focus on new products that it...
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Food
Wendy's to Announce Transaction With Peltz: Report
NEW YORK (Reuters) - Wendy's International Inc (WEN) is set to announce a transaction with billionaire investor Nelson Peltz on Thursday, though the deal's specific details were unclear, the Wall Street Journal reported, citing a person familiar with the situation. The...
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Manufacturing
BASF Upbeat Despite Economic Slowdown
By Mantik Kusjanto MANNHEIM, Germany (Reuters) - Germany's BASF (BASF), the world's biggest chemicals company by sales, remains upbeat despite signs of a slowing global economy after posting strong first-quarter results that beat expectations. "Our long-term strategy is paying off," Chief Executive ...
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Manufacturing
Meggitt Says Order Book Up 7 Percent
LONDON (Reuters UK) - Aerospace company Meggitt (MGGT) said on Thursday trading was in line with its expectations, with its order book up 7 percent since the start of the year. Meggitt, which makes aircraft flight displays, fire detection systems and unmanned air vehicles, said in...
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Financial Services
Hyundai Q1 Up 28 Pct on Won and Sales
SEOUL (Reuters) - Hyundai Motor Co on Thursday posted a 28 percent rise in quarterly net profit but the result missed forecasts by a wide margin as rising raw material prices offset higher sales fuelled by a weaker won. South Korea's top...
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Technology
Apple Profit Rises But Margins a Letdown
By Scott Hillis SAN FRANCISCO (Reuters UK) - Apple Inc (AAPL) on Wednesday posted a 36 percent rise in quarterly profit, helped by strong sales of Macintosh computers and iPods, but its lower profit margin and cautious outlook disappointed investors. Shares of Apple fell 1 percent...
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Technology
Apple Profit Rises But Margins a Letdown
By Scott Hillis SAN FRANCISCO (Reuters) - Apple Inc (AAPL) on Wednesday posted a 36 percent rise in quarterly profit, helped by strong sales of Macintosh computers and iPods, but its lower profit margin and cautious outlook disappointed investors. Shares of Apple fell...
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Technology
Qualcomm Profit Up, 2008 View Disappoints Some
By Sinead Carew NEW YORK (Reuters) - Qualcomm Inc (QCOM) posted a higher quarterly profit on Wednesday, boosted by demand for chips in advanced cell phones, but its forecast for the rest of the year fell short of Wall Street expectations. Shares of...
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Food
Starbucks Slashes Outlook, Blames Housing Meltdown
By Lisa Baertlein and Nichola Groom LOS ANGELES (Reuters) - Starbucks Corp said on Wednesday it was the latest victim of the U.S. mortgage meltdown. Blaming hard-hit housing markets of California and Florida for slowing sales, the coffee shop chain slashed its quarterly ...
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Retail
Amazon's Pricing Means Lower Margins, Share Drop
By Alexandria Sage LOS ANGELES (Reuters) - Amazon.com Inc (AMZN) warned on Wednesday that profit margins would narrow in 2008 as it kept prices in check, sending its shares down 5 percent, even as quarterly results topped Wall Street targets and the Web...
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Technology
Apple: iPhone Demand Looks Strong Globally
Years ago, Apple used to have problems managing its inventory. It would launch a hot new product, and offer up far fewer than there was demand for. While Apple has since learned better, it still found itself at the end of March with "stockouts" - or low inventories - of...
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