Australian Herald
AustralianHerald.com Saturday 17th May 2008 Edition 138/2008
Front Page Breaking Business News
US stocks lower after a good week


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U.S. stocks closed mostly lower on Friday, with a slide in consumer confidence and surging crude oil prices fueling worries about the...


US population concerned about economic future
US citizens believe the country is in...


Economic Forum praises strength of euro currency
The annual Brussels Economic Forum conference has been looking at ways to meet the economic challenges facing the...


Ben Bernanke wants banks to raise more capital
US Federal Reserve Board Chairman Ben Bernanke has said banks and securities firms will need to keep raising capital to improve their balance sheet following credit...


Malawi tobacco rotting on auction floor
Wildly fluctuating prices have closed Malawi's tobacco commodity auction...


Australia to slow its growth
Australia's Reserve Bank has said the country's economy will only grow at a slower pace in the next couple of...


United Airlines and Continental now in talks
United Airlines and Continental Airlines in the US have been in talks for a possible...


Mini loans to be handed out in Africa
Impoverished borrowers in Africa and Asia will soon be able to receive so-called “tiny loans” from the World Bank and British-based bank Standard...


Singapore restaurants showing empty seats
There was a lower turnover in Singapore restaurants after the Lunar New Year celebration, dropping the country’s catering figures to US$289.2 million....


New management at helm of Hugo Boss
German fashion label, Hugo Boss has a new...


Asset securitization at root of banking malaise
Germany's President Horst Koehler has described the world’s banking system as “a monster that must be tamed”....


Australian cricketers coaxed back to Jaipur
Faced with the threat of losing future earnings in the Indian Premier League (IPL), Australia's contingent from the Rajasthan Royals franchise were coaxed back to Jaipur despite their fears following Tuesday's deadly terrorist attack in the capital city of...


Microsoft Windows to come on low-cost laptops
The One Laptop Per Child (OLPC) project will install Windows XP on its low-cost laptops for students in developing countries, according to a joint announcement...


Ford Health Earnings Fall
Posted on: Friday, 16 May 2008, 21:00 CDT By Patricia Anstett, Detroit Free Press May 16--The Henry Ford Health System made money last year, but less than the year before as its cost of providing...


How Open Is Microsoft
"Transparency, standards, and interoperability are key," Microsoft's chief software architect, Ray Ozzie, told thousands of developers and customers at the company's MIX conference in March. It was a...


Oil sets record near $128
NEW YORK – News that Saudi Arabia had boosted its oil output by 300,000 barrels a day was greeted as a non-event on oil markets – the move wasn't anywhere near the kind of production...


Fannie Mae scraps higher down-payment requirements
WASHINGTON – By relaxing down-payment requirements for borrowers in markets where home prices are falling, Fannie Mae aims to both resuscitate the flagging housing market and respond to...


GE confirms plans to exit appliance business
NEW HAVEN, Conn. – General Electric Co. plans to sell or spin off the business that for a century has put appliances in American homes, a decision that could presage further asset sales,...


Calif. wine patriarch Robert Mondavi dead at 94
BERKELEY – Robert Mondavi, the pioneering vintner who helped put California wine country on the map, died at his Napa Valley home Friday. He was...


Union says it will fight Esmark-Essar deal
-------- END BIGBOXAD ----------> The contract, which expires Sept. 1, gives the union the right to reject any deal that changes control of the company. The USW contends Esmark didn't give it...


Slot auctions coming to all 3 NYC-area airports
WASHINGTON – Slot auctions designed to reduce delays nationwide and increase competition are coming to John F. Kennedy International Airport in New York and Newark Liberty International Airport...


Yahoo seeks to conceal parts of shareholder suit
SAN FRANCISCO – Yahoo Inc. is seeking to conceal large portions of a shareholder lawsuit alleging the Internet company's board improperly thwarted Micrsoft Corp.'s $47.5 billion takeover offer,...


U.S. consumer grim as stagflationary 80s
NEW YORK – U.S. consumer confidence tumbled to a 28-year low this month as rising prices strained household finances, while another drop in single-family housing starts underscored problems...


Striking workers vote on GM plant contract
LANSING, Mich. – The president of a United Auto Workers local at a key General Motors Corp. factory said Friday he's optimistic workers will approve a local contract and end a monthlong strike....


Wall Street sees light at end of tunnel
NEW YORK -- Wall Street is clawing its way back from a dismal start to the year as confidence grows about the prospects of a US economic recovery without a calamitous downturn. The past week saw...


Biofuels, trade dominate EU-Latin America summit
LIMA: European and Latin American leaders called for action to tackle surging food prices and global warming at a summit in Peru on Friday, despite differences over biofuels and free trade. ...


Can Icahn Revive Microsoft
Posted on: Friday, 16 May 2008, 21:00 CDT By Elise Ackerman, San Jose Mercury News, Calif. May 15--Billionaire investor Carl Icahn reportedly plans to launch a battle for control of Yahoo's board,...


InterMune to Present at Citigroup Healthcare Conference
Posted on: Friday, 16 May 2008, 18:00 CDT BRISBANE, Calif., May 16 /PRNewswire-FirstCall/ -- InterMune, Inc. today announced that John Hodgman, Senior Vice President and Chief Financial Officer of...


Wall St ends flat as energy gains offset sentiment
NEW YORK (Reuters) - Stocks finished little changed on Friday as surging oil prices lifted energy shares and offset data that showed consumer confidence sank to its lowest in 28...


Oregon Winery Posts Record Earnings for 2007
WVVI produced its highest earnings to date despite significant constraints on inventory. Revenues increased 12% to $16,710,927, net earnings by 31% to $1,686,661 and diluted earnings per share to...


Birch Mountain reports first quarter results
All PR Newswire news CALGARY, May 16 /PRNewswire-FirstCall/ - Birch Mountain Resources Ltd. ("Birch Mountain" or the "Company") (BMD: TSX and AMEX) today reported financial results for the first...


Former Microsoft lawyer Neukom to head SF Giants
William Neukom, the Microsoft lawyer best-known for his role in the landmark antitrust case against the software giant, is now set to take on a bunch of Pirates (and Dodgers and Cubs). Neukom,...


Aqua Teen Hits the Big Screen, Frylock Tells All
gets crazy-big PR. Mission accomplished -- and in plenty of time for the April 13 cross-country rollout of the film. Of course, the Cartoon Network's marketing campaign wound up being pretty pricey:...


Retail Earnings, Home Sales Due
By Kathy Shwiff Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- After technology deals helped send the major indexes higher this week, investors will turn their attention next week to reports on...


Airport slot auctions proposed for Newark, JFK
The Transportation Department plan for Newark airport in New Jersey and New York's John F. Kennedy airport -- and a similar one announced recently for the region's other big airport, LaGuardia -- is...


Debunking Microsoft Search Rumors
Powerset . Powerset is a semantic or contextual search provider, offering a departure from the generalized keyword search strategies espoused by so many search vendors these days. The consensus is...


County employment data show some promise
After a sluggish winter, employment in San Diego County rebounded last month, fueled by strong hiring in hotels, restaurants and government work, according to data released by the California...


GM Looks Past Microsoft
Of DOW JONES NEWSWIRES SAN FRANCISCO -(Dow Jones)- General Motors Corp. (GM) says it's considering whether to upgrade its computer system to Microsoft Corp.'s (MSFT) Vista operating system or to...


DVL, Inc. Reports Results of Operations for the Quarter Ended...
All PR Newswire news NEW YORK, May 16 /PRNewswire-FirstCall/ -- DVL, Inc. (OTC Bulletin Board: DVLN) announced its operating results for the three month period ended March 31, 2008. DVL's income...


YTB International Announces Financial Results for the First...
All PR Newswire news WOOD RIVER, Ill., May 16 /PRNewswire-FirstCall/ -- YTB International, Inc. (OTC Bulletin Board: YTBLA) ("YTB" or the "Company"), a provider of Internet-based travel booking...


As food and gas costs rise, so do financial worries
Debbie Agostino doesn't figure there's much she can do to fight the rising cost of food. "Most of our expenses are for things we need," said Agostino, a Centereach mother of four and a part-time...


Guardian serves its defence on supermarket chain Tesco
UK news section. It was last updated at 00:05 on May 17 2008. The Guardian yesterday made a formal offer of amends to the supermarket chain Tesco over reports which had claimed that the company had...


Delphi asks court to force investors to pay $2.6 bln
DETROIT (Reuters) - Auto parts supplier Delphi Corp DPHIQ.PK filed a legal complaint on Friday against an investor group led by Appaloosa Management LP in an attempt to win a court order requiring...


Treasury bond market at a glance
May 16, 2008 - 5:55 p.m. NEW YORK (AP) - Key barometers in the Treasury market late Friday compared with late Thursday. The price changes in the 10-year note and 30-year bond are per $1,000...


Santander BanCorp Reports Earnings for the...
All PR Newswire news SAN JUAN, Puerto Rico, May 16 /PRNewswire-FirstCall/ -- Santander BanCorp (NYSE: SBP; LATIBEX: XSBP) ("the Corporation") reported a net income of $17.7 million for the...


Allegiance Bank of North America Reports Operating Results for the...
ABPA (the "Bank"), reported operating results for the quarter ended March 31, 2008. Gregg Wagner, President and Chief Executive Officer, noted the achievements of the organization: -- We...


National Holdings Corporation Reports Results for Second Quarter...
NHLD , reported financial results for the Company's second quarter ended March 31, 2008. "Like many firms on Wall Street, we experienced a difficult quarter. Recent market volatility strained...


Microsoft unveils its visual guide to the universe
Redmond: This is a different sort of Maps to the Stars. Microsoft has taken the wraps off an astonishingly vast visual guide to the universe that is powered by some of the world's best telescopes....


Clear Channel buyout financing settled; Hewlett-Packard plans to buy Electronic Data Systems
May 16, 2008 - 5:03 p.m. NEW YORK (AP) - Clear Channel Communications Inc. kicked off the week's biggest stories, following news that the radio and media company's stalled buyout was back...


Wall Street may get best indicators yet about recession or economic recovery as summer begins
Joe Bel Bruno May 16, 2008 - 5:04 p.m. NEW YORK (AP) - After nine months of turmoil that started with the collapse of the subprime mortgage market, Wall Street appears to be at a turning point...