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Posted 2008-05-16
at 1:05 pm EDT

Paulson: Markets calmer but not fully settled

WASHINGTON, May 16, 2008 (Reuters) — Treasury Secretary Henry Paulson said on Friday that markets have calmed down to the point where prices will be driven by economic factors including an improving housing market rather than by fear. ... > full story
Posted 2008-05-16
at 1:05 pm EDT

Time Warner Chairman likely to step down

NEW YORK, May 16, 2008 (Reuters) — Time Warner Inc Chairman Richard Parsons said he is likely to step down in the next year, clearing the path for Chief Executive Jeffrey Bewkes to assume the role. ... > full story
Posted 2008-05-16
at 1:05 pm EDT

Shareholders file new legal claims in Yahoo case

NEW YORK, May 16, 2008 (Reuters) — Investors suing Yahoo Inc over its rebuff of Microsoft Corp's $47.5 billion buyout bid have filed a new case that adds company co-founder David Filo as a defendant, but they say much of their complaint is being kept under seal at Yahoo's demand. ... > full story
Posted 2008-05-16
at 1:05 pm EDT

GE confirms plans to exit appliance business

BOSTON, May 16, 2008 (Reuters) — General Electric Co confirmed on Friday it may sell or spin off its century-old appliances unit, saying the business was too focused on the United States. ... > full story
Posted 2008-05-16
at 11:05 am EDT

Wal-Mart moves forward with new Marketside stores

NEW YORK, May 16, 2008 (Reuters) — Wal-Mart Stores Inc is now hiring store managers to work at Marketside, new smaller format stores the world's largest retailer is preparing to open in Arizona. ... > full story
Posted 2008-05-16
at 10:05 am EDT

Consumers' mood grim as early-80s in May

NEW YORK, May 16, 2008 (Reuters) — Consumer confidence tumbled to its lowest in 28 years this month, a survey showed on Friday, as short-term inflation expectations reached the highest levels since the stagflationary early 1980s. ... > full story
Posted 2008-05-16
at 10:05 am EDT

Abercrombie profit tops view; affirms outlook

NEW YORK, May 16, 2008 (Reuters) — Teen apparel retailer Abercrombie & Fitch Co reported higher quarterly profit on Friday, topping Wall Street estimates, as a lower tax rate and a better gross margin helped offset the impact of lower same-store sales. ... > full story
Posted 2008-05-16
at 8:05 am EDT

Fed's Lockhart sees hope that inflation slowing

WASHINGTON, May 16, 2008 (Reuters) — Inflation is too high but may be slowing and the economy is suffering a "pronounced and serious downturn," Federal Reserve Bank of Atlanta President Dennis Lockhart said on Friday. ... > full story
Posted 2008-05-16
at 7:05 am EDT

Macy's to have FAO Schwarz boutiques in stores

NEW YORK, May 16, 2008 (Reuters) — Macy's Inc and FAO Schwarz said on Friday they signed an agreement under which the specialty U.S. toy retailer's toy stores will be opened in about 685 Macy's locations over the next two years. ... > full story
Posted 2008-05-16
at 5:05 am EDT

WTO tells U.S. to cut trade barriers, improve exports

GENEVA, May 16, 2008 (Reuters) — The United States should cut barriers to its markets to help it tackle economic turmoil, and boost exports to deal with its current account deficit, the World Trade Organisation (WTO) said. ... > full story