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5 regional banks must raise $8.2B after tests

May 7, 2009 1:14 pm | by MARCY GORDON - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — Five of the nation's largest regional banks are vulnerable to a worsening recession and need to raise a total $8.2 billion in new capital based on results of government "stress tests" released Thursday.The two regional banks based in the Southeast, Regions Financial Corp. and...

Results of 'stress tests' of 19 financial firms

May 7, 2009 1:04 pm | by The Associated Press | News | Comments

Here are the results of the government's stress tests of financial companies with at least $100 billion in assets. Of the 19 companies tested to see how they could handle a worsening economy, 10 were found to need more capital. Here's how much capital they need and where they would see the most...

March/April airline traffic at a glance

May 7, 2009 12:59 pm | by The Associated Press | News | Comments

April and March traffic statistics for leading U.S. airline companies. The figures include regional affiliates such as Delta Connection and American Eagle.The following airline companies are listed in order of size, starting with the largest, measured in miles flown by paying customers.— Delta Air...

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AIG 1st-quarter loss narrows to $4.35 billion

May 7, 2009 12:53 pm | by STEPHEN BERNARD - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Battered insurer American International Group Inc. said Thursday its first-quarter loss narrowed, and was sharply lower than the record-setting loss it posted a quarter ago.The New York-based insurance giant said it lost $4.35 billion, or $1.98 per share, during the quarter ended...

Google CEO doesn't see problem with his Apple role

May 7, 2009 12:53 pm | by MICHAEL LIEDTKE - AP Technology Writer - Associated Press | News | Comments

MOUNTAIN VIEW, Calif. (AP) — Google Chief Executive Eric Schmidt is taking a government inquiry into his role on Apple Inc.'s board in stride, expressing confidence that the probe won't find any evidence that the ties between the two companies throttle competition in mobile phones and other...

Rittal White Paper

May 7, 2009 12:33 pm | News | Comments

The modern business environment has transformed energy efficiency from a luxury sought after by so-called “green businesses” into a necessity for all operations that need to find ways to increase energy and cost savings without hurting productivity.

Allstate posts 1Q loss as investments fall

May 7, 2009 12:33 pm | by EILEEN AJ CONNELLY - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Allstate Corp. on Thursday posted a big loss for the first quarter, reversing a year-ago profit, citing falling investment income and a lower number of insurance policies in force.The property-and-casualty insurer's results also reflected a high number of claims due to catastrophes...

KFC offers rain checks on coupon Oprah promoted

May 7, 2009 12:33 pm | by The Associated Press | News | Comments

LOUISVILLE, Ky. (AP) — KFC has learned not to underestimate the power of Oprah Winfrey.A free grilled-chicken meal promotion touted by the talk show host has caused such a frenzy that some stores ran out and the Louisville-based chicken chain is asking customers to take a rain check for the new...

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Wells Fargo prices stock offering at $7.5 billion

May 7, 2009 12:28 pm | by The Associated Press | News | Comments

SAN FRANCISCO (AP) — Wells Fargo & Co. said Friday it is raising $7.5 billion through an offering of 341 million shares at $22 apiece, boosting the amount it previously said it would raise by $1.5 billion.The announcement comes a day after the U.S. government said the San Francisco bank needs to...

CBS posts 1Q loss; CEO sees 'improvement'

May 7, 2009 12:23 pm | by RYAN NAKASHIMA - AP Business Writer - Associated Press | News | Comments

LOS ANGELES (AP) — CBS Corp., the media company controlled by billionaire Sumner Redstone, said Thursday it lost $55 million in the first quarter as advertising revenue fell sharply.The results missed Wall Street expectations, but the company gave an upbeat outlook for the rest of the year.Chief...

W.Va. company moves to buy The Greenbrier resort

May 7, 2009 12:18 pm | by PAM RAMSEY - Associated Press Writer - Associated Press | News | Comments

CHARLESTON, W.Va. (AP) — A West Virginia coal and agriculture company has acquired The Greenbrier and plans to ask a bankruptcy court to dismiss the resort's bankruptcy case.In an announcement Thursday, The Greenbrier and Jim Justice said Justice's company, Justice Family Group, acquired the stock...

Live Nation 1Q loss widens as attendance drops

May 7, 2009 12:17 pm | by RACHEL METZ - AP Technology Writer - Associated Press | News | Comments

NEW YORK (AP) — Live Nation, the largest U.S. operator of concert venues, said Thursday that its first-quarter loss widened in part because fewer people attended concerts in its core North America market.Live Nation Inc., which is planning to merge with Ticketmaster Entertainment Inc., reported a...

Distribution Agreement For Thin-Film Batteries

May 7, 2009 12:11 pm | News | Comments

Electronic components distributor Digi-Key and Cymbet announce that the companies have entered into a distribution agreement for the worldwide distribution of Cymbet’s EnerChip family of solid-state, rechargeable thin-film batteries and energy harvesting power storage modules. 

Attorneys for Ohio drum satellite providers

May 7, 2009 12:07 pm | by JULIE CARR SMYTH - AP Statehouse Correspondent - Associated Press | News | Comments

COLUMBUS, Ohio (AP) — Lawyers for Ohio accused a pair of satellite TV companies Thursday of concocting a wild theory of business law and shopping it from court to court to escape a state sales tax imposed on their industry in 2003.In a strongly worded brief to the Ohio Supreme Court, the state...

Congressman Tim Holden Tours Fidelity Facility

May 7, 2009 11:48 am | News | Comments

Rep. Tim Holden (D-17th Dist.) visited Fidelity Technologies Corporation (Fidelity) in Reading, PA recently, touring the manufacturing facility where Fidelity will produce a power distribution system designed to safely distribute power to mobile compounds in the field.

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