WRAL.com - AP Business News

Bank stocks look cheap, but buyers remain cautious

Sat, 19 Jul 2008 02:00:13 -0400

Merrill Lynch & Co. Chief Executive John Thain is making a pitch to Wall Street: Buy the brokerage's shares while they're still cheap. But investors don't seem ready to listen.

Venture capital investments hold steady in 2Q

Sat, 19 Jul 2008 01:59:13 -0400

The pace of U.S. venture capital investments remained steady at $7.4 billion during the second quarter despite a wobbly stock market that has made it increasingly difficult for the financiers of new ideas to cash out of startups.

Oil prices tumble in biggest weekly drop ever

Sat, 19 Jul 2008 04:17:15 -0400

The price of oil recorded its biggest weekly drop ever, and a gallon of gas finally pulled back from its record high. So is it time to declare the energy bubble popped?

Midnight stampede to 'The Dark Knight' sets record

Sat, 19 Jul 2008 01:40:14 -0400

Nothing dark about Batman's first night at the box office.

Going small: A Smart driving experience

Sat, 19 Jul 2008 04:36:13 -0400

Sometimes, I guess, timing is everything. When DaimlerChrysler AG announced in 2006 that it planned to bring the Smart fortwo micro car to the United States after nearly a decade in Europe, gas prices had reached about $2.80 a gallon. Now, Americans are paying more than $4 a gallon at the pump, SUV sales are plummeting and consumers are hungry for smaller, more fuel-efficient vehicles.

Chinese broker tried in insider trading

Sat, 19 Jul 2008 06:26:13 -0400

The former president of a major Chinese stock brokerage has gone on trial on insider-trading charges in connection with the company's 2006 stock market debut, a state news agency reported Saturday.

Wall Street mixed after earnings reports

Fri, 18 Jul 2008 17:31:13 -0400

Wall Street closed out an impressive week with a mixed performance Friday after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected bank earnings reports. But the major indexes still ended the week with big gains, the result of rising optimism about the troubled financial sector.

Citigroup posts $2.5B loss, but beats expectations

Fri, 18 Jul 2008 18:57:14 -0400

Citigroup has become the latest big bank to quell Wall Street's worries about a financial sector implosion, posting a $2.5 billion second-quarter loss that was smaller than expected.

Teva to buy Barr Pharma for more than $7 billion

Fri, 18 Jul 2008 16:07:14 -0400

Teva Pharmaceutical said Friday it will buy rival generic drugmaker Barr Pharmaceuticals for nearly $7.5 billion in a move that will boost Teva's dominance as the world's biggest generic drugmaker.

Freddie Mac takes step toward issuing stock

Fri, 18 Jul 2008 20:17:05 -0400

Mortgage financier Freddie Mac took a step toward issuing common and preferred stock to help bolster its balance sheet Friday when the Securities and Exchange Commission accepted its registration statement filed earlier in the day.