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YRC reported to ask for $1 billion in bailout cash

May 15, 2009 7:28 am | by SAMANTHA BOMKAMP - AP Transportation Writer - Associated Press | News | Comments

NEW YORK (AP) — The nation's largest publicly traded trucking company will ask for $1 billion in aid from the federal bailout fund, as creditors come knocking and business continues to sink, media reports said Friday.If approved, YRC would become the first trucking company to get help from the...

Kroger CEO's pay falls 9 pct in 2008

May 15, 2009 7:23 am | by DAN SEWELL - AP Business Writer - Associated Press | News | Comments

CINCINNATI (AP) — Kroger Co. Chairman and Chief Executive David B. Dillon's pay fell some 9 percent as sales growth slowed for the nation's largest grocery chain during the recession, according to an Associated Press analysis of a regulatory filing Friday.Dillon's compensation was valued at $8.25...

Trade group: Summer air traffic could fall 6.7 pct

May 15, 2009 7:18 am | by The Associated Press | News | Comments

WASHINGTON (AP) — A trade group for U.S. airlines says the number of passengers will drop 6.7 percent this summer because of the recession.The Air Transport Association said Friday it expects the number of passengers to drop by 14 million, to 195 million between June 1 and Aug. 31, compared with...

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Venezuela seizes plant of US food giant Cargill

May 15, 2009 7:18 am | by The Associated Press | News | Comments

CARACAS, Venezuela (AP) — The government of President Hugo Chavez is seizing temporary control of a pasta-processing plant owned by U.S. food giant Cargill Inc. in Venezuela.Deputy Food Minister Rafael Coronado says the takeover of Cargill's plant in the coastal state of Vargas was ordered because...

Fitch downgrades various AIG ratings

May 15, 2009 7:03 am | by The Associated Press | News | Comments

CHICAGO (AP) — Fitch Ratings on Friday lowered ratings for American International Group Inc. and some of its units, as the embattled insurer repositions itself in the marketplace in hopes of repaying billions in bailout funds to the government.Fitch cut the New York-based insurer's issuer default...

Miss. AG: Keep State Farm settlement deal sealed

May 15, 2009 7:02 am | by HOLBROOK MOHR - Associated Press Writer - Associated Press | News | Comments

JACKSON, Miss. (AP) — Mississippi Attorney General Jim Hood has asked a court to block renewed efforts to make public a settlement agreement between his office and insurer State Farm Fire & Casualty Co. that was part of their feud over homeowner claims from Hurricane Katrina.Hood's office filed a...

Panasonic: From Cash Cow To Money Loser

May 15, 2009 6:49 am | by Tomoko A. Hosaka, Associated Press Writer | News | Comments

Panasonic Corp. slumped deep into the red last fiscal year, joining the expanding club of big Japanese brands shellshocked by their rapid descent from cash cow to money loser.

Brazil stocks fall, Mexico cuts rates

May 15, 2009 6:37 am | by The Associated Press | News | Comments

SAO PAULO (AP) — Brazilian stocks are lagging on uncertainty about the world economy.Brazil's benchmark Ibovespa fell 0.5 percent to 49,193 in early trading, as Wall Street fluctuated and markets in European markets turned lower.Meanwhile, Mexico's central bank cut its key lending rate, the...

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Mexico cuts key interest rate to 5.25 percent

May 15, 2009 6:27 am | by JULIE WATSON - Associated Press Writer - Associated Press | News | Comments

MEXICO CITY (AP) — Mexico's central bank cut its key interest rate by three quarters of a point Friday to spur growth for the recession-plagued economy.The bank lowered the benchmark rate to 5.25 percent from 6 percent, saying strong action was needed because the economy had contracted more than...

Wii MotionPlus

May 15, 2009 6:15 am | by Derrik J. Lang, AP Entertainment Writer | News | Comments

It's not as zany as a zapper or as sexy as a steering wheel. It doesn't even tell you whether you're losing weight. However, the game maker is hoping a small cube-shaped device called Wii MotionPlus will take the Wii's motion-sensing controls to a new level of precision.  

Possible PC firming seen in Hewlett-Packard 2Q

May 15, 2009 6:12 am | by JORDAN ROBERTSON - AP Technology Writer - Associated Press | News | Comments

SAN FRANCISCO (AP) — Hewlett-Packard Co. reports its fiscal second-quarter numbers after the market closes Tuesday. Below is a summary of key developments and analyst opinion about the period.OVERVIEW: Soft spending by large corporations is expected to have hurt HP in its latest quarter, as it hurt...

WSJ: Gov't pressuring Bank of America board change

May 15, 2009 6:02 am | by IEVA M. AUGSTUMS - AP Business Writer - Associated Press | News | Comments

CHARLOTTE, N.C. (AP) — A report Friday said federal officials are pressuring Bank of America Corp. to revamp its board and bring in directors with more banking experience.The story in The Wall Street Journal called the regulators' move "unusual" as the government does not own a stake in the...

NYC Health Commissioner To Head CDC

May 15, 2009 5:48 am | by Steven R. Hurst, Associated Press Writer | News | Comments

President Barack Obama on Friday appointed Dr. Thomas Frieden as director of the Centers for Disease Control and Prevention, turning to New York City's health commissioner to deal with the swine flu outbreak and other major health issues.

SunTrust to sell $1.25B in stock, cut its dividend

May 15, 2009 5:46 am | by The Associated Press | News | Comments

ATLANTA (AP) — SunTrust Banks says it will sell $1.25 billion of common stock and slash its dividend by 90 percent as it works to raise money in light of the government's increased capital requirements.The Atlanta-based regional bank is one of the 10 major financial institutions recently ordered by...

Fed official: recovery will be a 'very slow slog'

May 15, 2009 5:21 am | by JEANNINE AVERSA - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — Americans should brace themselves for a slow recovery back to health after the recession ends, with unemployment likely to hit the double-digits, a Federal Reserve official said Friday.Consumers here and abroad — fearful of losing their jobs or homes — likely will remain cautious...

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