Recent Updates

  • US DOJ won't appeal Stolt-Nielsen decision

    US DOJ won't appeal Stolt-Nielsen decision

    Business Law 12/24/2007

    The U.S. Justice Department said on Friday it will not appeal the dismissal of its indictment of Norwegian shipping group Stolt-Nielsen in a price fixing case.Earlier this month, a Pennsylvania court threw out a criminal indictment against the compan...

  • Shoppers rush to stores before Christmas

    Shoppers rush to stores before Christmas

    Business Law 12/24/2007

    The nation's shoppers -- taking advantage of deep discounts and expanded hours -- jammed stores over the last weekend before Christmas to try to grab a hard-to-find Wii or scoop up bargains on other items. But the spending surge may not be enough to ...

  • News Corp. to sell 8 TV stations for $1.1 billion

    News Corp. to sell 8 TV stations for $1.1 billion

    Business Law 12/23/2007

    News Corp., the media company controlled by Rupert Murdoch, will sell eight of its Fox network-affiliated television stations in the U.S. to Oak Hill Capital Partners for about $1.1 billion in cash.The sale in small markets will leave News Corp. with...

  • Investors Focus on Housing Data and Fed

    Investors Focus on Housing Data and Fed

    Business Law 12/16/2007

    Stock investors smarting from months of volatility are hoping this holiday-shortened week provides signs of a badly-needed yearend rally. The days leading up to Christmas -- which in recent years have been positive for stocks -- will bring readings o...

  • Qantas plead guilty to price-fixing

    Qantas plead guilty to price-fixing

    Business Law 11/28/2007

    Australian airline Qantas Airways has agreed to plead guilty to fixing prices in international air cargo shipments and pay a 61-million-dollar fine, the US Justice Department said Tuesday.Between June 2000 and February 2006, Qantas engaged in a consp...

  • Virgin Mobile sinks with wider 3Q loss

    Virgin Mobile sinks with wider 3Q loss

    Business Law 11/16/2007

    Despite an analysts' upgrade, shares of Virgin Mobile USA Inc. fell Friday to their lowest point since the company's recent trading debut after the company said its third-quarter loss widened as operating expenses rose.The wireless service provider's...

  • Wall Street Falls After Merrill Report

    Wall Street Falls After Merrill Report

    Business Law 10/24/2007

    Stocks fell in early trading Wednesday as Wall Street grew more cautious after Merrill Lynch & Co.'s earnings revealed severe credit-related losses.The investment bank said it wrote down $7.9 billion in fixed-income instruments called collaterali...

  • Charles Schwab 3rd-Quarter Profit Soars

    Charles Schwab 3rd-Quarter Profit Soars

    Business Law 10/15/2007

    Brokerage firm Charles Schwab Corp. said Monday its third-quarter earnings soared, mainly due to a big gain on the sale of its U.S. Trust wealth management business.Schwab reported earnings of $1.53 billion, or $1.28 per share, for the quarter ended ...

  • Nomura to exit U.S. residential mortgage securities

    Nomura to exit U.S. residential mortgage securities

    Business Law 10/15/2007

    Nomura Holdings, Japan's largest brokerage, said it would pull out of the U.S. residential mortgage-backed securities market and cut a quarter of its U.S. workforce, pushing it to a big quarterly loss.Nomura is the latest global investment bank force...

  • Fox challenges CNBC with new biz channel

    Fox challenges CNBC with new biz channel

    Business Law 10/15/2007

    Rupert Murdoch has entered a dark horse in high-stakes races before, and won. On Monday, the News Corp. media titan trots out the Fox Business Network. Two years in the making, the channel will challenge General Electric Co.'s highly profitable CNBC ...

  • Profit Boost Perks Up Wal-Mart Shares

    Profit Boost Perks Up Wal-Mart Shares

    Business Law 10/11/2007

    Wal-Mart (WMT) shares climbed 3% Thursday after the giant retailer surprised Wall Street by boosting its earnings estimate for the third quarter, despite tepid sales. The Bentonville, Ark., company said it now expects to make 68 cents to 69 cents a s...

  • Treasurys Dip As Rate Cut Seems Unlikely

    Treasurys Dip As Rate Cut Seems Unlikely

    Business Law 10/10/2007

    [##_1L|1353340092.jpg|width="128" height="81" alt=""|_##]Treasury prices fell Wednesday amid a growing consensus in the bond market that the Federal Reserve won't cut rates this month. Minutes from the Fed's September monetary policy meeting, release...

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