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Stock futures rise ahead of economic data, 1st Ld-Writethru, US

May 28, 2009 2:47 am | by MADLEN READ - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Stocks headed for a higher open Friday ahead of more reports expected to show the economy is steadying.Analysts expect the government will report a slower decline in first-quarter gross domestic product than initially estimated. Readings on consumer sentiment and business activity...

Budget carrier AirAsia's profit jumps 26 percent, AS

May 28, 2009 2:47 am | by EILEEN NG - Associated Press Writer - Associated Press | News | Comments

KUALA LUMPUR, Malaysia (AP) — Budget carrier AirAsia said Thursday its net profit surged 26 percent in the first quarter from a year ago, reflecting the success of its aggressive network expansion amid the global economic slump.AirAsia rebounded from two straight quarterly losses to a record a...

Ahead of the Bell: Target shareholders to meet, 1st Ld-Writethru

May 28, 2009 2:41 am | by The Associated Press | News | Comments

WAUKESHA, Wis. (AP) — Target's shareholders will finally have their say Thursday in the months-long battle between the cheap chic retailer, which has stumbled as shoppers focus on necessities, and a hedge fund manager who wants to see change at the company.Shareholders will decide whether they side...

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Malaysia's Firefly to launch flights to Singapore, AS

May 28, 2009 2:41 am | by The Associated Press | News | Comments

KUALA LUMPUR, Malaysia (AP) — Firefly, the budget wing of Malaysia Airlines, said Thursday it will launch flights from several Malaysian cities to Singapore starting in July as part of its regional expansion.Firefly will be the fourth no-frills carrier to fly the lucrative route from the Malaysian...

J & J files for arbitration over Schering deal, APFN

May 28, 2009 2:36 am | by The Associated Press | News | Comments

NEW BRUNSWICK, N.J. (AP) — Health care products maker Johnson & Johnson has filed a demand for arbitration to terminate an agreement between its Centocor Ortho Biotech unit and Schering-Plough Corp., in light of the latter company's impending merger with rival drugmaker Merck & Co.The agreement...

Ahead of the Bell: New Home Sales, APFN

May 28, 2009 2:36 am | by The Associated Press | News | Comments

WASHINGTON (AP) — Government data are expected to show that new home sales inched up in April, rising for the second straight month as builders start to see long-awaited encouraging signs about the housing market.New home sales likely rose last month to a seasonally adjusted annual rate of 360,000...

REFILING: Kyodo news summary -5-+

May 28, 2009 2:36 am | by The Associated Press | News | Comments

TOKYO, May 28 (Kyodo) — ---------- Upper house to vote on FY 2009 extra budget FridayTOKYO - A fiscal 2009 extra budget worth a record 13.93 trillion yen is expected to clear parliament Friday, as lawmakers agreed Thursday to put it to a vote at the following day's plenary session of the House of...

Philippines cuts rates as economy shrinks in 1Q, 2nd Ld-Writethru, AS

May 28, 2009 2:25 am | by OLIVER TEVES - Associated Press Writer - Associated Press | News | Comments

MANILA, Philippines (AP) — The Philippine central bank cut interest rates Thursday after the government said the economy shrank 2.3 percent in the first quarter from the previous quarter, its worst contraction in 10 years.The central bank's Monetary Board reduced the overnight borrowing rate a...

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Costco 3Q profit drops on charge, stronger dollar, 4th Ld-Writethru, US

May 28, 2009 2:20 am | by SARAH SKIDMORE - AP Retail Writer - Associated Press | News | Comments

PORTLAND, Ore. (AP) — Costco Wholesale Corp.'s fiscal third-quarter profit fell 29 percent because of softer sales and a litigation charge for the warehouse club operator.Costco has been one of the more resilient retailers during the recession as shoppers go to its membership clubs for deals on...

Day Highlights: Marvel Entertainment, Starwood Hotels & Resorts, Wal-Mart, Family Dollar and Saks Business Editors

May 28, 2009 2:20 am | by The Associated Press | News | Comments

CHICAGO-- (BUSINESS WIRE) — May 28, 2009--Zacks Equity Research highlights Marvel Entertainment (MVL) as the Bull of the Day and Starwood Hotels & Resorts (HOT) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Wal-Mart (WMT), Family Dollar (FDO) and Saks (SKS).Full...

Quanex Building Products Corporation Fiscal Second Quarter 2009 Results

May 28, 2009 2:20 am | by GLOBE NEWSWIREAssociated Press | News | Comments

HOUSTON, May 28, 2009 (GLOBE NEWSWIRE) — Quanex Building Products Corporation (NYSE:NX) today reported fiscal second quarter 2009 results for the period ending April 30. Loss from continuing operations was $14.0 million, or $0.38 per diluted share, excluding special items, and $40.1 million, or...

US dollar rises in Europe, EU

May 28, 2009 2:20 am | by The Associated Press | News | Comments

LONDON (AP) — The U.S. dollar was higher against other major currencies in European trading Thursday morning. Gold fell.The euro traded at US$1.3871, down from US$1.3919 late Wednesday in New York.Other dollar rates:—96.88 Japanese yen, up from 95.20—1.0891 Swiss francs, up from 1.0869—1.1182...

UK prime minister warns of trade crisis, EU

May 28, 2009 2:15 am | by The Associated Press | News | Comments

LONDON (AP) — The banking crisis has turned into a trade crisis, and renewed effort is needed to guard against protectionism and to conclude the Doha round of trade talks, Prime Minister Gordon Brown said in an article published Thursday.Writing in The Wall Street Journal, Brown said that countries...

European markets close down despite US rally, 6th Ld-Writethru

May 28, 2009 2:09 am | by PAN PYLAS - AP Business Writer - Associated Press | News | Comments

LONDON (AP) — European stock markets closed lower Thursday amid concerns about higher long-term interest rates despite a rebound on Wall Street following encouraging U.S. economic data — and hopes that General Motors Corp. will emerge from bankruptcy stronger than anticipated.The FTSE 100 index of...

NH Sen committee approves slot machines, NH

May 28, 2009 2:09 am | by The Associated Press | News | Comments

CONCORD, N.H. (AP) — A New Hampshire Senate committee has voted 4-3 to support bringing slot machines to the state's three horse and dog tracks to help bring in revenue.The proposal, approved by the Senate Finance Committee early Thursday, also would permit two slot parlors to open in the North...

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