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AP Business News
05/16/2008 01:57:21
| Industrial output plunges, second big drop in 2 months
WASHINGTON (AP) - The nation's industrial output plunged in April, reflecting big cutbacks in autos and other manufacturing industries. The Federal Reserve reported Thursday that industrial production dropped 0.7 percent last month, more than double the decline that economists had expected. More » | Stocks turn higher after jobless claims report
NEW YORK (AP) - Wall Street fluctuated in a narrow range Thursday as investors struggled to discern a direction for the economy after reports showing a modest increase in jobless claims and weakness in the manufacturing sector. The data pointed to an economy that is hurting, but not experiencing as rough a time as many investors expected after the near-collapse of the mortgage market. More » | Oil prices surge on weaker dollar, diesel demand
NEW YORK (AP) - Oil prices surged nearly $2 a barrel Thursday as the dollar fell against the euro and investors anticipated strong demand for diesel fuel in parts of China ravaged by Monday's earthquake. Gas prices, meanwhile, advanced past $3.77 a gallon. Light, sweet crude for June delivery rose $1.87 to $126.09 a barrel on the New York Mercantile Exchange. More » | Blockbuster swings to 1Q profit on US sales growth
DALLAS (AP) - The movie rental chain Blockbuster Inc., which wants to buy electronics chain Circuit City Stores, said Thursday it swung to a first-quarter profit on lower expenses and improved results from its subscription service and domestic sales growth. The Dallas-based company said its earnings after preferred dividends was $42.6 million, or 20 cents per share. That compared with a loss of $51.8 million, or 27 cents per share, a year earlier. More » | Maverick oilman Pickens puts $2B bet on wind power
NEW YORK (AP) - Maverick oilman T. Boone Pickens has placed a $2 billion bet on wind power in just the first of a four-phase project to build the world's largest wind farm in Texas. Pickens said the total cost of the deal will grow considerably after the initial investment in General Electric Co. turbine technology. More » |
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