Wednesday, July 23, 2008
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WTO awaits new proposals to unlock stalled talks
Emerging and developed countries were at loggerheads Wednesday on day three of crucial WTO trade talks, with both sides calling for concessions to avert failure at the meeting.
07-23-2008
Continental rejects Schaeffler takeover bid
Management at German auto parts group Continental rejected a takeover bid from Schaeffler in its current form but said Wednesday it was still seeking an agreement with its rival.
07-23-2008
GM global auto sales skid 5.0 percent
General Motors on Wednesday posted a five percent drop in global sales in the second quarter as a sharp drop in its home market offset strong gains overseas.
07-23-2008
Vodafone announces 1.0-billion-pound shares buy-back
British mobile phone giant Vodafone said Wednesday it would repurchase shares worth 1.0 billion pounds (1.3 billion euros, 2.0 billion dollars) and stressed that it was undervalued.
07-23-2008
McDonald's heaps up healthy profit
Fast-food giant McDonald's posted Wednesday better-than-expected profit in the second quarter on robust international sales despite rising commodity prices.
07-23-2008
EU backing clears last hurdle to Porsche takeover of VW
German sports car maker Porsche cleared a major hurdle Wednesday in its bid to acquire Volkswagen when the European Union's executive commission gave its backing to the deal.
07-23-2008
De Beers says first-half sales sparkle, but cautions on outlook
De Beers, the world's biggest diamond company, said Wednesday that first-half sales rose 10 percent to 3.74 billion dollars (2.37 billion euros) but warned of woes in the key US market.
07-23-2008
Siemens mulls sale of Czech train factory
The German engineering group Siemens is mulling the sale of a Czech factory, where 950 workers make trains, as part of the restructuring of its transport division, it said on Wednesday.
07-23-2008
Fed's Beige Book cites slow growth, higher price pressures
US economic activity appears to have slowed to a crawl in the past weeks even as price pressures intensified, the Federal Reserve said in its Beige Book report Wednesday.
07-23-2008
Oil prices fall as US motor fuel reserves climb
Oil prices fell further on Wednesday as traders digested stronger-than-expected gasoline (petrol) reserves in the United States, the world's biggest crude consumer, analysts said.
07-23-2008
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