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Cigna joins competitors with 1Q enrollment slip

April 30, 2009 8:09 am | by TOM MURPHY - AP Business Writer - Associated Press | News | Comments

INDIANAPOLIS (AP) — Cigna Corp. joined its biggest health insurance competitors Thursday when it said rising unemployment helped suppress enrollment in the first quarter, normally a big time for insurers to add members or renew business.Despite the enrollment losses, the Philadelphia-based insurer...

Independent News & Media warns it can't pay debt

April 30, 2009 7:53 am | by SHAWN POGATCHNIK - Associated Press Writer - Associated Press | News | Comments

DUBLIN (AP) — Ireland's major newspaper publisher, Independent News & Media, warned Thursday it is likely to default on a euro200 million ($265 million) debt due for repayment next month and is seeking a possible bailout from its top two shareholders.The Dublin-based global media and advertising...

Big tax credit lifts profit at International Paper

April 30, 2009 7:53 am | by MIKE OBEL - AP Manufacturing Writer - Associated Press | News | Comments

NEW YORK (AP) — International Paper Co.'s first-quarter profit nearly doubled, as lower spending and a big tax credit for alternative fuel use offset falling sales of paper and timberlands.Like other paper makers, IP is getting a boost from a federal program to encourage use of alternative fuels,...

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Colgate-Palmolive 1Q profit rises 9 percent

April 30, 2009 7:53 am | by BETSY VERECKEY - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Higher selling prices and cost cuts helped first-quarter profit rise 9 percent, consumer goods maker Colgate-Palmolive Co. said Thursday, despite the stronger dollar and a drop in European sales.The company, known for its namesake toothpaste and dishwashing soap, said quarterly...

Comcast 1Q profit up 6 percent on new customers

April 30, 2009 7:53 am | by DEBORAH YAO - AP Business Writer - Associated Press | News | Comments

PHILADELPHIA (AP) — Shares of Comcast Corp. rose Thursday after the nation's largest cable TV provider reported a 6 percent increase in first-quarter earnings and said it gained more subscribers than expected, without having to do much discounting.Comcast said that while it did see some customers...

Starwood's 1Q beats expectations after cost cuts

April 30, 2009 7:53 am | by KRISTEN A. LEE - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Deep cost-cutting helped Starwood Hotels & Resorts Inc. deliver first-quarter results above Wall Street's expectations on Thursday and the lodging company echoed comments by rivals that hotel demand is beginning to stabilize.But its first-quarter earnings report wasn't pretty: It...

Travelers Cos. 1Q profit falls 32 percent

April 30, 2009 7:52 am | by The Associated Press | News | Comments

NEW YORK (AP) — The Travelers Cos. reported on Thursday a 32 percent drop in first-quarter profit, primarily due to losses on its investments, and confirmed full-year guidance well below analysts' estimates.The St. Paul, Minn.-based property and casualty insurer earned $662 million, or $1.11 per...

Starwood 1Q profit drops, but results top Street

April 30, 2009 2:30 am | News | Comments

WHITE PLAINS, N.Y. (AP) — Starwood Hotels & Resorts says its first-quarter profit plunged 81 percent, but adjusted results beat analysts' estimates as deep cost cuts helped offset softening travel demand.Like others in the sector, Starwood Hotels & Resorts Worldwide Inc. has been slashing expenses...

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Hearing scheduled in Tribune bankruptcy

April 29, 2009 10:33 pm | News | Comments

WILMINGTON, Del. (AP) — Attorneys are headed to court to discuss Tribune Co.'s assertion that it owns the television and movie rights to comic book character Dick Tracy.Tribune Media Services, a Tribune subsidiary, has been battling for years with actor Warren Beatty over rights to the cartoon...

Jobless rates rise in all US metro areas in March, 5th Ld-Writethru, US

April 29, 2009 7:23 pm | News | Comments

WASHINGTON (AP) — Unemployment rates rose in all of the nation's largest metropolitan areas for the third straight month in March, with Indiana's Elkhart-Goshen once again logging the biggest gain.The Labor Department reported Wednesday all 372 metropolitan areas tracked saw jobless rates move...

UAW overwhelmingly ratifies Chrysler settlement

April 29, 2009 7:22 pm | News | Comments

DETROIT (AP) — Members of the United Auto Workers have overwhelmingly ratified a settlement deal with Chrysler on Wednesday night.The UAW says 82 percent of production workers and 80 percent of skilled-trades workers voted for the agreement in balloting that took place at UAW Chrysler locations...

Embraer reports 1Q loss on lower jet sales

April 29, 2009 6:35 pm | News | Comments

SAO PAULO (AP) — Brazil's Embraer plane maker posted a first-quarter loss Wednesday as the brutal world economic downturn has prompted airlines to cancel jet orders and delay deliveries.Empresa Brasileira de Aeronautica SA also announced that it is revising down its 2009 revenue guidance to $5.5...

NM firing financial adviser mentioned in NY probe

April 29, 2009 6:09 pm | by The Associated Press | News | Comments

SANTA FE, N.M. (AP) — A state investment office is firing a financial adviser caught up in a pay-to-play investigation involving a New York state pension fund.Aldus Equity Partners, a Dallas-based firm, has advised the State Investment Council since 2004 on what private equity investments should be...

Yahoo's Yang gets $1 in rocky final year as CEO

April 29, 2009 5:38 pm | by MICHAEL LIEDTKE - AP Technology Writer - Associated Press | News | Comments

SAN FRANCISCO (AP) — Yahoo Inc. limited co-founder Jerry Yang's 2008 compensation package to his customary $1 salary during his final year as chief executive, a tumultuous reign that unraveled after he rebuffed Microsoft Corp.'s $47.5 billion bid to buy the Internet company.The Sunnyvale,...

STMicro 1Q loss widens as sales drop off

April 29, 2009 5:13 pm | by The Associated Press | News | Comments

SEATTLE (AP) — Swiss chipmaker STMicroelectronics NV reported a wider first-quarter loss Wednesday as sales sank across the board, and said it would lay off 1,200 people.The Geneva-based company said it lost $541 million, or 62 cents per share, in the quarter, compared with a year-ago loss of $84...

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