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Posted 2008-05-17
at 1:05 am EDT

Cathay Pacific mulls route cuts on high fuel: paper

HONG KONG, May 17, 2008 (Reuters) — Cathay Pacific Airway Ltd <0293.HK>, Hong Kong's dominant airline, is considering cutting its money-losing routes amid soaring fuel prices, South China Morning Post said on Saturday, citing the airline's chief executive as warning in an internal newsletter. ... > full story
Posted 2008-05-16
at 9:05 pm EDT

Motorola's chief strategy officer quits

NEW YORK, May 16, 2008 (Reuters) — Rich Nottenburg, Motorola Inc's chief strategy and technology officer, has become the latest senior staff member to exit since activist investor Carl Icahn strengthened his influence, a spokeswoman said on Friday. ... > full story
Posted 2008-05-16
at 6:05 pm EDT

Delphi asks court to force investors to pay $2.6 bln

DETROIT, May 16, 2008 (Reuters) — Auto parts supplier Delphi Corp on Friday filed a lawsuit against an investor group led by Appaloosa Management L.P in an attempt to win a court order requiring the group to provide $2.55 billion in equity or damages to the bankrupt company. ... > full story
Posted 2008-05-16
at 6:05 pm EDT

Morgan Stanley cut 1,500 jobs this week: source

NEW YORK, May 16, 2008 (Reuters) — Morgan Stanley cut 1,500 jobs this week across its investment banking, trading and asset management businesses, a person familiar with the situation said Friday, a 5 percent reduction of non-broker employees. ... > full story
Posted 2008-05-16
at 6:05 pm EDT

Airport slot auctions proposed for Newark, JFK

WASHINGTON, May 16, 2008 (Reuters) — The U.S.government proposed on Friday to auction some takeoff and landing rights at the New York area's two international airports, as a way to boost competition, a plan that drew sharp criticism from airlines. ... > full story
Posted 2008-05-16
at 5:05 pm EDT

Fannie Mae relaxes loan down-payment requirements

NEW YORK, May 16, 2008 (Reuters) — Fannie Mae, the largest U.S. home funding source, is setting a single national standard for down payments on mortgages it buys, including areas where home prices are falling, in an effort to stimulate the housing market. ... > full story
Posted 2008-05-16
at 4:05 pm EDT

Consumers' mood as grim as early-80s

NEW YORK, May 16, 2008 (Reuters) — U.S. consumer confidence tumbled to a 28-year low this month as rising prices strained household finances, while another drop in single-family housing starts underscored problems still plaguing the economy. ... > full story
Posted 2008-05-16
at 4:05 pm EDT

Wall St ends flat as energy gains offset sentiment

NEW YORK, May 16, 2008 (Reuters) — Stocks finished little changed on Friday as surging oil prices lifted energy shares and offset data that showed consumer confidence sank to its lowest in 28 years. ... > full story
Posted 2008-05-16
at 4:05 pm EDT

3M and Sony in optical film licensing pact

SAN FRANCISCO, May 16, 2008 (Reuters) — 3M Co and Sony Corp <6758.T> have agreed to a licensing deal that gives Sony the right to use certain 3M optical film technologies for use in LCD television products, the companies said on Friday. ... > full story
Posted 2008-05-16
at 2:05 pm EDT

Lehman Brothers job cuts to start next week: report

NEW YORK, May 16, 2008 (Reuters) — Investment bank Lehman Brothers Holdings Inc will begin cutting jobs starting next week, CNBC Television reported on Friday, without citing sources. ... > full story