WRAL.com - AP Business News

Oil rises on falling US gasoline supplies

Thu, 21 Aug 2008 06:45:12 -0400

Oil prices rose Thursday above $116 a barrel as investors considered a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September.

Heinz 1Q profit rises 11 percent

Thu, 21 Aug 2008 07:28:13 -0400

H.J. Heinz says its fiscal first-quarter profit rose 11 percent, fueled by double-digit sales growth in North America and Europe.

Burger King 4Q profit rises 42 pct, tops estimates

Thu, 21 Aug 2008 07:35:13 -0400

Burger King Holdings says its profit surged 42 percent in its fiscal fourth quarter, driven by improved sales and marketing. The results are above Wall Street expectations.

Germany's IKB to be bought by Lone Star Funds

Thu, 21 Aug 2008 07:15:18 -0400

German lender IKB Deutsche Industriebank AG, which has been badly hit by the U.S. subprime mortgage crisis, will be sold to U.S.-based private equity firm Lone Star Funds, the German company's biggest shareholder said Thursday.

Schaeffler agrees to limit Continental stake

Thu, 21 Aug 2008 05:33:05 -0400

Auto parts maker Continental AG said Thursday it had ended a weeks-long standoff over a takeover bid from smaller rival Schaeffler KG and reached a deal after Schaeffler raised its offer and agreed to limit itself to a minority stake.

Stocks point lower on financial sector worries

Thu, 21 Aug 2008 06:57:13 -0400

Wall Street appeared headed for a lower open Thursday amid growing anxiety over the financial sector, particularly the embattled investment bank Lehman Brothers Holdings Inc.

IAC completing split into 5 publicly traded parts

Thu, 21 Aug 2008 00:05:13 -0400

Barry Diller's IAC/InterActiveCorp is completing its split into five publicly traded companies Thursday - a move intended to give each business more focus and value than the previously cluttered whole.

Source: auction-rate probe focuses on 3 banks

Wed, 20 Aug 2008 18:47:05 -0400

New York Attorney General Andrew Cuomo will intensify his probe into auction-rate securities by focusing on Bank of America Corp., Goldman Sachs Group Inc. and Deutsche Bank AG, a person close to the investigation said Wednesday.

Japan's trade surplus shrinks 87 percent in July

Thu, 21 Aug 2008 04:17:12 -0400

Japan's trade surplus shrank sharply in July on higher oil and commodities prices, figures showed Thursday, but robust exports to the rest of Asia, Russia, Australia and the Mideast are helping reduce Japan's dependance on a slowing U.S. market.

Now on the Hallmark aisle: Gay marriage cards

Thu, 21 Aug 2008 07:37:13 -0400

Most states don't recognize gay marriage - but now Hallmark does.