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GM to end most production at Wyoming, Mich., plant

April 21, 2009 5:47 am | by The Associated Press | News | Comments

NEW YORK (AP) — General Motors Corp. says it will shut down most of its operations at its metal stamping plant in suburban Grand Rapids, Mich., earlier than originally anticipated.GM spokesman Chris Lee says employees at the Wyoming plant were told last week that the plant's stamping operations...

United Airlines parent lost $382 million in 1Q

April 21, 2009 5:32 am | by JOSHUA FREED - AP Airlines Writer - Associated Press | News | Comments

MINNEAPOLIS (AP) — United Airlines said Tuesday it lost $382 million during the first quarter as it raced passengers to see who could pull back faster on flying. Passengers won, though United has been aggressively cutting costs to try to keep up.United reduced flying by 11.3 percent during the...

Terra declares 10-cent dividend

April 21, 2009 5:27 am | by The Associated Press | News | Comments

SIOUX CITY, Iowa (AP) — Fertilizer company Terra Industries Inc. on Tuesday declared a dividend of 10 cents per share.The dividend will be paid on June 9 to shareholders of record as of May 20, Terra said.

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Canada cuts interest rates

April 21, 2009 5:27 am | by ROB GILLIES - Associated Press Writer - Associated Press | News | Comments

TORONTO (AP) — Canada's central bank cut its trendsetting interest rate by a quarter point to a record-low 0.25 percent and said it will likely stay there through June 2010.The Bank of Canada said Tuesday the global recession has intensified and it expects the recession in Canada will be deeper...

Mergers, Acquisitions & Announcements 03-10-09

April 21, 2009 5:23 am | News | Comments

Mergers, acquisitions & announcements for March 10, 2009

Huntington Bancshares reports $2.4B loss in 1Q

April 21, 2009 5:11 am | by The Associated Press | News | Comments

COLUMBUS, Ohio (AP) — Regional bank Huntington Bancshares Inc. says it lost $2.4 billion in its first quarter, largely because of a $2.6 billion charge associated with troubled mortgages inherited through a merger.The Columbus, Ohio bank said Tuesday it lost $6.79 per share. A year ago, it earned...

Broadcom launches hostile $764M bid for Emulex

April 21, 2009 5:11 am | by The Associated Press | News | Comments

IRVINE, Calif. (AP) — Chip designer Broadcom Corp. is launching a $764 million hostile takeover offer for network gear maker Emulex Corp. Broadcom said Tuesday the deal would help it develop new technologies for corporate data centers.The acquisition would amount to $9.25 per share, a 40 percent...

IMF: Nations need to do more or crisis will worsen

April 21, 2009 5:11 am | by MARTIN CRUTSINGER - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — Losses at financial institutions could approach $4.1 trillion worldwide, the International Monetary Fund said Tuesday as it urged countries to take bolder action to bolster banks or risk an even deeper recession.More capital is needed to cushion against further losses, the IMF's...

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Accused Craigslist killer's fiancee: He's innocent

April 21, 2009 5:11 am | by The Associated Press | News | Comments

BOSTON (AP) — The fiancee of a Boston medical school student accused of fatally shooting a woman who placed an ad on Craigslist said police have the wrong man and there is no way he could have done it.In an e-mail to ABC's "Good Morning America, Megan McAllister said Philip Markoff "could not hurt...

Tenet Healthcare goes from loss to profit

April 21, 2009 4:56 am | by The Associated Press | News | Comments

DALLAS (AP) — Hospital operator Tenet Healthcare Corp. went from a loss to a profit in the first quarter, partly on a gain from a debt exchange, the company said in releasing preliminary results Tuesday.Tenet also raised its outlook for the full year.The preview of Tenet's first-quarter results...

AK Steel posts $73M loss in 1Q

April 21, 2009 4:51 am | by The Associated Press | News | Comments

PITTSBURGH (AP) — AK Steel Holding Corp., a supplier of steel for cars and trucks, on Tuesday reported a first-quarter loss compared with a year-earlier profit, as the recession continued to dampen demand for the metal.The West Chester, Ohio-based company's loss of $73.4 million reflected lower...

NYT Co. 1Q losses worsen as ad sales plunge 27 pct

April 21, 2009 4:40 am | by The Associated Press | News | Comments

The New York Times Co. fell into a deeper financial hole during the first quarter as the newspaper publisher's advertising revenue plunged 27 percent in an industrywide slump that is reshaping the print media. Its shares dived after the results were released Tuesday.The owner of The New York Times,...

Martha Stewart Living co-CEO to step down

April 21, 2009 4:20 am | by The Associated Press | News | Comments

NEW YORK (AP) — Martha Stewart Living Omnimedia Inc. said Tuesday that Wenda Harris Millard, co-chief executive in charge of media, will be leaving the company to join the New York public relations firm Media Link LLC.The move comes less than a year after Harris Millard was named co-CEO. She joined...

BJ Services 2Q profit falls 66 percent

April 21, 2009 4:20 am | by The Associated Press | News | Comments

HOUSTON (AP) — Oilfield services provider BJ Services Co. said Tuesday its fiscal second-quarter earnings fell 66 percent due to lower drilling activity as the global economic recession hurt demand for energy.Quarterly earnings slid to $43 million, or 15 cents per share, from $127.3 million, or 43...

TD Ameritrade 2Q profit drops 29 percent

April 21, 2009 4:09 am | by JOSH FUNK - AP Business Writer - Associated Press | News | Comments

OMAHA, Neb. (AP) — Online brokerage TD Ameritrade Holding Corp. said Tuesday its second-quarter profit dropped 29 percent as revenue slumped almost 16 percent, but the earnings were in line with Wall Street expectations and the company reaffirmed its full-year guidance.While its trading activity...

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