18 Feb 2005 08:19 AM

Qwest Communications does not give up its attempt to take over MCI. Days after MCI agreed to be sold to Verizon Communications for $6.7 billion in cash and stock on February 14, Qwest’s chief executive, Richard C. Notebaert released a letter to MCI directors with a promise of a higher bid and expressions of hope for new discussions.

17 Feb 2005 08:37 PM

Billionaire Warren Buffet and George Soros raised their investment in U.S. cable television companies, benefiting from declines in stock prices enabling them to buy shares of the two leading operators. Buffett’s Berkshire Hathaway Inc. increased its stake in Comcast Corp., the world’s top-level cable-television operator

17 Feb 2005 07:44 PM

Emerging market equities peaked on Monday. The FTSE All-world emerging markets equity index rose to a peak of 271.01, up 3.1% since the beginning of the year, according to Paivi Munter. Net buying of emerging market equities grew to $ 1.3 billion and turned out to be the biggest weekly inflow since 2000, according to Emerging

17 Feb 2005 04:08 PM

The Philly Fed index rose to 23.9 in February from 13.2 in January. New orders rose to 11.7 from 9.8, shipments were up to 23.8 from 15.9. Economists were expecting the index to rise to 17.

17 Feb 2005 09:17 AM

Hewlett-Packard Co. reported today that its fiscal first quarter revenue rose 10%. Profit rose 1% to $943 million, or 32 cents a share, from $936 million, or 30 cents a share, in the previous year

17 Feb 2005 09:06 AM

U.S. weekly initial jobless claims fell 2,000 to 302,000 last week, the lowest level in a 4-year period. Economists were expecting claims to rise to 316,000. After

17 Feb 2005 08:42 AM

Troubled retailer Circuit City will probably cut as many as 1,000 jobs amid closing 19 US stores, a warehouse and five regional offices this month. The move will cut earnings for the fourth quarter by $30 million. Selling is expected to reduce its long-term debt

17 Feb 2005 08:34 AM

Wal-Mart Stores Inc., the world’s largest retailer, reported today that its fourth-quarter profit rose 16%. Profit rose to $3.16 billion

16 Feb 2005 05:32 PM

Last week MCI turned down an extremely tasty offer from Qwest Communications. The refusal signaled financial weakness of the smallest of the four Baby Bell companies. Some of MCI’s investors frowned. It means the company’s board may review both offers and give Qwest a second

16 Feb 2005 11:26 AM

The American Petroleum Institute said today that crude inventories rose by 5.6 million barrels for the week ending Feb. 11. Distillate supplies fell 3.1 million barrels.

16 Feb 2005 10:46 AM

The Energy Department reported today that crude inventories rose by 2.1 million barrels to 296.4 million barrels for the week ended February 11. Distillate supplies fell by 3.1 million barrels.

16 Feb 2005 09:40 AM

U.S. industrial production was flat in January

16 Feb 2005 08:38 AM

Highfields Capital Management LP proposed to buy the US third-largest consumer electronics retailer Circuit City and turn its recent poor performance around. On Tuesday, Circuit City Stores said it had received a $3.25 billion takeover offer from Highfields Capital. Highfields

16 Feb 2005 08:32 AM

Coca-Cola Co., the world’s largest soft-drink maker, reported on Wednesday that its fourth-quarter profit rose 30% on good sales.

15 Feb 2005 06:48 PM

At the beginning of this year OPEC oil demand can exceed the supply for the first time during the last two years, the International Energy Agency said. IEA asks the OPEC to stop cutting down oil output, and the markets pushed the world oil prices higher in reaction to the IEA forecast.