03 May 2005 05:13 AM

Morgan Stanley’s investors are deeply disappointed about the board’s Sunday decision to leave Philip Purcell in both his positions as Chairman and Chief Executive, preparing ground for a prolonged battle for the chairman’s post. Investors have long been frustrated about the turmoil at the company’s helm, Purcell’s rare appearances at the company, the outrageous rule that required a 75% board vote in order to oust Purcell, and the stock price that trailed competitors.

03 May 2005 05:11 AM

Lenovo Group Ltd. has appointed International Business Machines Corp.’s executive Stephen Ward as chief executive after the completion of its takeover of IBM’s PC unit, where Ward served as general manager. Yang Yuanqing, Lenovo’s former chief executive, was named chairman. Liu Chuanzhi, the group’s founder and former chairman, is to become a non-executive director.

03 May 2005 05:09 AM

The parties of the Airbus-Boeing subsidies dispute voiced Monday their mutual preference for a peaceful solution of the problem, as opposed to an open confrontation at the World Trade Organization. This is the outcome of the talks in Paris where U.S. Trade Representative Robert Portman and European Trade Commissioner Peter Mandelson broached the subject.

03 May 2005 05:07 AM

Verizon Communications Inc. got over Qwest Communications International Inc. in the 10-week battle for MCI Inc., the company that was strategically important in the fight for the consolidation of the telecommunication industry. Qwest withdrew its offer totalling $9.9 billion after MCI accepted Verizon’s $8.5 billion bid.

02 May 2005 04:04 PM

The Dow Jones Industrial rose 60.89 points, or 0.60%, to 10,253.40. The Nasdaq Composite added 7.07 points, or 0.37%, to 1,928.72. The S&P500 was up 5.49 points, or 0.47%, to 1,162.34.

02 May 2005 04:01 PM

June crude oil futures rose $1.20, or 2.4%, to $50.92 a barrel. June gold futures rose $0.50 to $431 an ounce.

02 May 2005 02:59 PM

The Dax Index added 39.18 points, or 0.94% to 4224.02, the FTSE 100 Index rose 11.50 points, or 0.24% to 4801.70, the CAC 40 Index climbed 27.06 points, or 0.69% to 3938.77. In

02 May 2005 02:57 PM

MOODY'S CUT LONG-TERM DEBT RATING FOR AIG TO "Aa2" FROM "Aa1"

02 May 2005 10:26 AM

U.S. ISM INDEX FELL TO 53.3 IN APRIL FROM 55.2 IN MARCH, THIS IS THE FIFTH STRAIGHT MONTH OF DECLINE. THE INDEX FELL TO THE LOWEST LEVEL SINCE JULY 2003. ECONOMISTS WERE EXPECTING

02 May 2005 09:40 AM

Neiman Marcus announced on Monday that it agreed to be acquired by Texas Pacific Group and Warburg Pincus for about $5.1 billion.

02 May 2005 09:14 AM

Yields on European government bonds hit record-low levels on last Thursday despite the forecast final rise in eurozone yields. There are, however, reasons for such a drop. First, the economic news from the eurozone have been depressing of late. Business confidence dropped in April

02 May 2005 08:17 AM

China has created a powerful new agency responsible for safeguarding the country’s energy security, as Beijing moves to address spiraling energy costs and a growing dependency on foreign oil.

02 May 2005 07:52 AM

U.S. options markets are on the way to consolidation as New York Stock Exchange expects to take over Archipelago Holdings Inc. and Nasdaq plans a deal with Instinet Group Inc. Archipelago has almost

02 May 2005 06:25 AM

PRUDENTIAL EQUITY RAISED ITS PRICE TARGET FOR GOOGLE TO $284 FROM $260

02 May 2005 06:24 AM

PIPER JAFFRAY RAISED MCAFEE TO "OUTPERFORM" FROM "MARKET PERFORM"