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home : business
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AP/Nick Ut
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| Shoppers check out a shoe store at the Americana Mall on the first day of business May 2 in Glendale, Calif. Shoppers, hit hard by rising food and gas prices, are seeking shelter in wholesale clubs and discount apparel chains. |
More shoppers seeking shelter from economy in discounters
NEW YORK -- Caught in the maelstrom of higher gas and food prices, Americans -- even more affluent ones -- are seeking shelter in wholesale clubs and discount apparel chains.
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Survey says executives see oil prices falling
HOUSTON -- Even as oil prices ascended to new highs of more than $124 a barrel this week, many oil and gas industry executives say they expect the price to fall significantly by year's end, a new survey shows.
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LOCAL BUSINESS BRIEFS
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Kasai to lead AW North Carolina
Franchisee makes $75K donation
CEO stripped of chairman role |
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Wachovia separates chairman, CEO positions
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Wachovia Corp. on Thursday stripped Chief Executive Ken Thompson of his chairman role in a move that separates the top management position from the top oversight role. |
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Stocks decline as AIG reveals need for cash, oil surges
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Wall Street retreated Friday as investors contended with wider-than-expected losses at insurer American International Group Inc. and another worrisome spike in oil prices. The Dow Jones industrial average at times gave up more than 100 points. |
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Facebook, states set bullying, predator safeguards
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Facebook, the world's second-largest social networking Web site, is adding more than 40 new safeguards to protect young users from sexual predators and cyberbullies under an agreement with officials nationwide that was announced Thursday. |
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Will love of mom overcome economy worries on Mother's Day?
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It's a few days before Mother's Day and Robert Jenkins jumps every time the phone rings. He's got about 220 reservations at his Cajun-style restaurant, Bayou, for brunch on Sunday. Last year, he had 300 reservations -- but with the economy sagging, business is down. |
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Google execs hope for long-term ad deal with Yahoo
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Google Inc.'s top executives expressed hope Thursday that the Internet search leader will be able to form a potentially lucrative advertising partnership with Yahoo Inc. -- a deal that would lower the odds of Microsoft Corp. renewing its attempts to buy Yahoo. |
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Gas jumps above $3.67, oil passes $126 on Venezuela concerns
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Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher. |
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GM to pay up to $200M to help end American Axle strike
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A bitter, 10-week strike at auto parts supplier American Axle and Manufacturing Holdings Inc. could end soon now that General Motors Corp. has agreed to kick in up to $200 million to help settle the dispute, industry analysts said. |
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AIG posts 1Q loss of $7.8B, plans to raise $12.5B
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American International Group Inc. says it will raise $12.5 billion in the coming months as the insurer looks to shore up a capital base that has been rocked by deterioration in the credit markets. |
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Japan Airlines reduces losses in latest quarter
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Japan Airlines reduced losses in the January-March quarter from a year earlier on cost cuts but forecast lower profit Friday for this fiscal year, blaming soaring fuel costs and intense competition. |
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