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Posted 2008-05-16
at 4:05 am EDT

SMFG posts big rebound, forecasts modest growth

TOKYO, May 16, 2008 (Reuters) — Sumitomo Mitsui Financial Group <8316.T> reported a threefold increase in fourth-quarter profit, rebounding from massive losses at its consumer finance unit a year earlier, and it forecast modest growth ahead. ... > full story
Posted 2008-05-16
at 4:05 am EDT

SMFG posts rise in profit, forecasts modest growth

TOKYO, May 16, 2008 (Reuters) — Sumitomo Mitsui Financial Group reported a 5 percent rise in annual profit as bond sales helped offset subprime losses, and it forecast modest growth this year. ... > full story
Posted 2008-05-16
at 3:05 am EDT

LG Display shares slide on Lehman downgrade

SEOUL, May 16, 2008 (Reuters) — Shares in South Korea's LG Display <034220.KS> fell more than 8 percent after Lehman Brothers downgraded its rating on the liquid crystal display maker and several rivals, heightening worries about oversupply and slowing profits. ... > full story
Posted 2008-05-16
at 3:05 am EDT

Yahoo, WPP form multiyear ad-trading partnership

SAN FRANCISCO, May 16, 2008 (Reuters) — Embattled Yahoo Inc has struck an advertising partnership deal with WPP Group that will let WPP buy ads on Yahoo's online ad exchange, the companies said late on Thursday. ... > full story
Posted 2008-05-16
at 2:05 am EDT

Buffett pulls out of RBS insurance sale: report

LONDON, May 16, 2008 (Reuters) — Warren Buffett's Berkshire Hathaway Inc has pulled out of the bidding in Royal Bank of Scotland's 7 billion pound ($13.62 billion) auction of its UK insurance business, the Financial Times reported on Friday. ... > full story
Posted 2008-05-16
at 1:05 am EDT

FAA studying American's lightning checks procedure: report

NEW YORK, May 16, 2008 (Reuters) — Federal aviation officials are examining why AMR Corp's American Airlines asked mechanics to start skipping some safety checks to detect damage to planes from suspected lightning strikes, the Wall Street Journal said on Friday, citing internal company and agency documents. ... > full story
Posted 2008-05-15
at 9:05 pm EDT

Fed sees some healing in scarred credit markets

CHICAGO, May 15, 2008 (Reuters) — Top Federal Reserve officials on Thursday cited progress in alleviating months of turmoil in financial markets, but said a full return to normalcy was still some time away. ... > full story
Posted 2008-05-15
at 8:05 pm EDT

Lockheed wins potential $3.6 bln US GPS satellite deal

WASHINGTON, May 15, 2008 (Reuters) — Lockheed Martin Corp won a potential $3.6 billion contract to start building a new generation of global positioning satellites that will boost accuracy for worldwide users, the Air Force said Thursday. ... > full story
Posted 2008-05-15
at 6:05 pm EDT

United in alliance talks with Continental: sources

NEW YORK, May 15, 2008 (Reuters) — United Airlines has begun talks with Continental Airlines Inc for a possible alliance even as its merger talks with US Airways continue to advance, sources briefed on the matter said. ... > full story
Posted 2008-05-15
at 6:05 pm EDT

Department store sales weak, but beat Street

LOS ANGELES, May 15, 2008 (Reuters) — The weak economy took its toll on department stores on Thursday, as retailers Nordstrom, Kohl's and J.C. Penney reported lower first-quarter net profits, with all citing challenges stemming from the weakened U.S. economy. ... > full story