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Posted 2008-05-15
at 1:05 pm EDT

JC Penney profit down 50 pct; sees difficult year

NEW YORK, May 15, 2008 (Reuters) — J.C. Penney Co Inc said on Thursday its first-quarter profit dropped 50 percent as the retailer cut prices to clear unsold merchandise, and it forecast a similar profit drop for its current quarter. ... > full story
Posted 2008-05-15
at 12:05 pm EDT

Chicken industry may face $8 corn: Pilgrim CEO

CHICAGO, May 15, 2008 (Reuters) — The U.S. chicken industry, which has been cutting production in reaction to higher feed costs, may have to contend with even higher feed prices this year, Pilgrim's Pride Corp Chief Executive Clint Rivers said during a webcast presentation on Thursday. ... > full story
Posted 2008-05-15
at 11:05 am EDT

Bernanke urges banks to raise capital if needed

CHICAGO, May 15, 2008 (Reuters) — Recent turmoil in financial markets underscores the need for banks to hold "generous" capital cushions, U.S. Federal Reserve Chairman Ben Bernanke said on Thursday as he urged them to actively raise money. ... > full story
Posted 2008-05-15
at 11:05 am EDT

Job market soft, factories weak

NEW YORK, May 15, 2008 (Reuters) — The U.S. factory sector started the month on a weak note after declining in April, according to data released on Thursday, while the number of workers stuck on jobless rolls hit a four-year high. ... > full story
Posted 2008-05-15
at 10:05 am EDT

CSX board unanimous in opposition to TCI agenda

NEW YORK, May 15, 2008 (Reuters) — U.S. railroad CSX Corp said on Thursday its board is unanimously opposed to an agenda put forward by activist investor group The Children's Investment Fund (TCI), and is asking shareholders to re-elect its directors. ... > full story
Posted 2008-05-15
at 9:05 am EDT

CBS to buy web publisher CNET

NEW YORK, May 15, 2008 (Reuters) — CBS Corp said on Thursday it would buy web media company CNET Networks Inc for about $1.8 billion to boost the television broadcaster's reach across the Internet. ... > full story
Posted 2008-05-15
at 9:05 am EDT

Blockbuster swings to profit in first quarter

NEW YORK, May 15, 2008 (Reuters) — Blockbuster Inc , the largest U.S. movie rental chain, posted a higher-than-expected quarterly profit as it cut costs by closing stores, reducing advertising and overhead expenses. ... > full story
Posted 2008-05-15
at 9:05 am EDT

Jobless claims rise 6,000 in latest week

WASHINGTON, May 15, 2008 (Reuters) — The number of U.S. workers filing claims for initial jobless benefits rose by 6,000 in the latest week while the number on benefit rolls after a first week of aid hit a four-year high, a government report showed on Thursday. ... > full story
Posted 2008-05-15
at 8:05 am EDT

Pickens' Mesa Power orders GE wind turbines

NEW YORK, May 15, 2008 (Reuters) — Oil investor T. Boone Pickens' Mesa Power LLP said on Thursday it ordered 667 wind turbines from General Electric Co as part of the $2 billion first phase of a planned Texas wind farm. ... > full story
Posted 2008-05-15
at 8:05 am EDT

T. Boone Pickens orders 667 GE wind turbines: report

NEW YORK, May 15, 2008 (Reuters) — T. Boone Pickens' Mesa Power LLP placed a $2 billion order for 667 wind turbines with General Electric to build the world's largest wind farm in the Texas Panhandle, the Dallas Morning News reported Thursday. ... > full story