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Ahead of the Bell: Airlines fall on flu concerns

April 27, 2009 4:37 am | by The Associated Press | News | Comments

NEW YORK (AP) — Airline shares fell in premarket trading Monday morning, as investors worried about the impact swine flu outbreaks may have on travel.Shares of U.S. carriers were down about 8 percent, following early indicators of a lower open in the broader market.British Airways, Air France-KLM...

German vacation firm TUI halts Mexico City trips

April 27, 2009 4:11 am | by The Associated Press | News | Comments

BERLIN (AP) — Germany's largest holiday tour operator says it is suspending all trips to Mexico City as a precaution amid the outbreak of a deadly strain of swine flu.The Hannover-based TUI said Monday that trips through May 4 to the Mexican capital were affected, including those operated by TUI...

Lorillard 1Q profit up 5.7 percent

April 27, 2009 4:06 am | by The Associated Press | News | Comments

RICHMOND, Va. (AP) — Lorillard Inc., the maker of Newport cigarettes, said Monday its first-quarter profit rose 5.7 percent on higher prices and lower costs.The earnings fell short of Wall Street estimates and its shares fell 42 cents to close at $62.18.The Greensboro, N.C.-based company said its...

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CEO says he's working to save Chrysler and jobs

April 27, 2009 4:01 am | by TOM KRISHER - AP Auto Writer - Associated Press | News | Comments

DETROIT (AP) — Chrysler Chief Executive Robert Nardelli is telling employees that management is doing all it can to get more government aid and save their jobs.Nardelli says in an e-mail Monday that management's No. 1 priority is to preserve Chrysler and the livelihoods of its 54,000 employees.He...

EU monopoly charges for Polish, Slovak telecoms

April 27, 2009 3:51 am | by The Associated Press | News | Comments

BRUSSELS (AP) — European Union regulators on Monday charged Polish and Slovak telecoms operators with monopoly abuse, saying it suspected that Telekomunikacja Polska and Slovak Telekom both tried to hinder rivals from offering broadband Internet in both countries.The European Commission said it...

Verizon 1st-qtr profit, revenue beat expectations

April 27, 2009 3:51 am | by The Associated Press | News | Comments

NEW YORK (AP) — Verizon Communications Inc. said Monday its earnings grew 5 percent in the first quarter, boosted by its acquisition of Alltel Corp. and strong demand for its wireless, Internet and TV services.Verizon, which is the second-largest U.S. telecommunications provider, earned $3.21...

Corning 1Q profit skids, but beats view

April 27, 2009 3:46 am | by The Associated Press | News | Comments

ROCHESTER, N.Y. (AP) — Specialty glassmaker Corning Inc. said Monday its first-quarter profit fell 99 percent on slumping sales and a charge for previously-disclosed job cuts.But its adjusted earnings topped Wall Street expectations on a mid-quarter rebound in demand for its flat-screen television...

Another Abu Dhabi fund seeks out credit ratings

April 27, 2009 3:36 am | by ADAM SCHRECK - AP Business Writer - Associated Press | News | Comments

DUBAI, United Arab Emirates (AP) — Another Abu Dhabi state investment fund has sought out credit ratings, a rare step toward greater transparency that could make buyout financing easier to get.The ratings issued Monday to International Petroleum Investment Co. by the three leading rating agencies...

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CDC: US begins border monitoring for swine flu

April 27, 2009 3:00 am | by LAURAN NEERGAARD - AP Medical Writer - Associated Press | News | Comments

WASHINGTON (AP) — Amid surging worries about a global pandemic, the United States launched border screening for swine flu exposure Monday and a top federal health official said people should brace for more severe cases, "and possibly deaths."Richard Besser, acting head of the U.S. Centers for...

Swine flu casts shadow over economy

April 27, 2009 2:50 am | by JEREMIAH MARQUEZ - AP Business Writer - Associated Press | News | Comments

LONDON (AP) — Uncertainty over the swine flu outbreak cast a shadow over the struggling global economy Monday, raising fears that that the spread of the virus could harm trade and tourism and undermine businesses just as they begin to rally.Airline stocks plummeted as major travel companies in...

Whirlpool 1Q profit drops on weakening demand

April 27, 2009 2:25 am | by The Associated Press | News | Comments

GRAND RAPIDS, Mich. (AP) — Whirlpool Corp., the world's largest maker of stoves, refrigerators and other major home appliances, said Monday its first-quarter profit fell 28 percent on slumping sales, softening consumer demand and the stronger dollar.But its shares climbed as it beat Wall Street's...

Humana 1Q profit more than doubles

April 27, 2009 2:19 am | by The Associated Press | News | Comments

LOUISVILLE, Ky. (AP) — Health insurer Humana Inc. said Monday its first-quarter profit more than doubled as its government business surged from higher membership in its Medicare Advantage plans and lower expenses in Medicare drug plans that sapped earnings a year ago.The company also raised its...

Chinese bank ICBC says 1Q profit up 6 percent

April 27, 2009 1:59 am | by The Associated Press | News | Comments

BEIJING (AP) — Industrial & Commercial Bank of China Ltd., the country's biggest commercial lender by assets, said Monday its quarterly profit rose 6 percent from a year earlier despite a double-digit fall in interest income.Profit for the three months ending March 31 was 35.1 billion yuan ($5.1...

Source: Chapter 11 won't kill Fiat-Chrysler deal

April 27, 2009 1:54 am | by COLLEEN BARRY - AP Business Writer - Associated Press | News | Comments

MILAN (AP) — Fiat still wants to pursue an alliance with Chrysler if the U.S. automaker is forced to file Chapter 11 bankruptcy protection from creditors, a source close to the Turin-based automaker said Monday.Fiat Group SpA is continuing to talks to reach a deal by the Thursday deadline, the...

Sharp posts $1.3 bln loss as TV, gadget sales dive

April 27, 2009 1:19 am | by MARI YAMAGUCHI - Associated Press Writer - Associated Press | News | Comments

TOKYO (AP) — Japanese electronics maker Sharp Corp. suffered an annual net loss of 125.8 billion yen ($1.3 billion), its first yearly red ink in nearly six decades, due to declining demand and increasing competition amid a global economic slump.Sharp's loss, reported Monday, was worse than the 100...

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