Monday, April 24, 2006

Daily News Digest: Business News

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Monday, April 24, 2006 09:00 AM PDT
Today's Business News:
Lay: Enron's Fall Caused 'Enduring Pain'
Mon, 24 Apr 2006 08:53 am PDT
AP - Enron Corp. founder Kenneth Lay testified Monday that the company's collapse has caused him more "enduring pain" than the loss of loved ones, and he again denied lying to investors about Enron's weak financial condition as it slid into bankruptcy. Full Story
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American Express Net Income Declines in 1Q
Mon, 24 Apr 2006 07:19 am PDT
AP - American Express Co., which specializes in travel services and credit cards, said Monday that its net profit fell in the first quarter, reflecting the spinoff last year of its Ameriprise Financial Inc. advisory unit. Full Story
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Stocks Fall on Earnings, Weakening Dollar
Mon, 24 Apr 2006 08:30 am PDT
AP - Stocks declined moderately Monday as concerns about a weakening U.S. dollar had investors unsettled over a mixed batch of first-quarter earnings reports. Full Story
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Sales Boost Caterpillar Profit 45 Percent
Mon, 24 Apr 2006 08:37 am PDT
AP - Caterpillar Inc. reported Monday its first-quarter profit rose 45 percent amid an ongoing sales surge, helping the maker of construction and agricultural equipment beat Wall Street estimates. Full Story
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CEO: BellSouth Recovering From Hurricane
Mon, 24 Apr 2006 08:15 am PDT
AP - As BellSouth Corp. prepares to be absorbed by AT&T Inc., it is still recovering from hurricane damage to its equipment and disruption to its customer base along the Gulf Coast, Chief Executive Duane Ackerman told shareholders Monday. Full Story
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Corrected: Snow says US can't curb imbalances on its own
Mon, 24 Apr 2006 08:48 am PDT
Reuters - Please read in paragraph 10 ...Mohammad Alipour-Jedi, head of the Petroleum Analysis Department of the OPEC Secretariat... instead of ...the secretary-general of the Organization of Petroleum Exporting Countries, Adnan Shihab-Eldin.... Full Story
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Stocks fall, led lower by energy shares
Mon, 24 Apr 2006 08:20 am PDT
Reuters - U.S. stocks lost ground on Monday as crude oil prices fell sharply, hurting shares of energy companies, including Exxon Mobil Corp. (XOM.N) and ConocoPhillips (COP.N). Full Story
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Kimberly-Clark Profit Falls by a Third
Mon, 24 Apr 2006 08:52 am PDT
AP - Kimberly-Clark Corp., the maker of Kleenex tissues and Huggies diapers, said Monday its first-quarter profit fell by more than one-third on higher costs for raw materials, a trend it expects to continue through this year. Full Story
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Japanese call to lower interest rate cap
Sun, 23 Apr 2006 12:30 pm PDT
FT.com - The maximum interest rate that consumer finance companies in Japan can charge their customers looks set to be reduced substantially after a government advisory group recommended lowering the official cap to 15-20 per cent. Full Story
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HMV Receives Offer for Waterstone's
Mon, 24 Apr 2006 07:49 am PDT
AP - Struggling books and music retailer HMV Group PLC said Monday it has received a 280 million pound ($501.1 million) offer for its Waterstone's book unit from a consortium that includes the division's founder, Tim Waterstone. Full Story
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