Business - Page 16

Reuters - Oil prices shed early losses to rise back above $57 on Monday on concern over falling gasoline supplies in the United States and political instability in top producer Nigeria.

Business Reuters - Dow Chemical Co. is in talks with India's Reliance Industries Ltd. about a potential joint venture, the Wall Street Journal reported on its Web site on Sunday citing people familiar with the matter. More Info...  

Reuters - Google Inc. purchased video game advertising firm Adscape to expand into in-game advertising, the Internet search leader said on its Web site on Friday. More Info...  

Reuters - Amsterdam-based ABN AMRO Holding NV has received M&A-related approaches from several rival banks in recent weeks after activist shareholders publicly pushed for a sale or breakup of the Dutch bank, sources familiar with the matter said on Sunday.

Reuters - The anxiety level on Wall Street may escalate this week with housing sector indicators due and a Federal Reserve meeting that most agree will end with no change in short-term interest rates.

Business

Reuters - The anxiety level on Wall Street may escalate next week with several indicators due on the housing sector and a Federal Reserve meeting that most agree will end with no change in short-term interest rates.

Reuters - Joining a rising corporate chorus itching to sink money into clean energy projects, big investors will press the U.S. Congress on Monday to pass laws attempting to tackle global warming.

Reuters - An investigation by Walt Disney Co. found that Pixar Animation Studios had backdated some employee stock options before it was acquired by Disney, Chairman John Pepper said in a statement on Friday. More Info...  

AP - Stymied by a phalanx of opponents from big banks to unions and dogged by conflicting messages about its intentions, Wal-Mart withdrew a bid for a banking license Friday and said it would find other ways to serve customers' financial needs.

Investor's Business Daily - The dollar sank to 3-month lows overnight vs. major currencies on concerns that the growing crisis in the U.S. subprime mortgage industry could spread and hit economic growth. The greenback pared losses on the stronger U.S. industry and inflation data, but still declined. The euro rose 0.74 cent to $1.3315. The dollar fell 0.83 yen to 116.74 yen. More Info...  

Reuters - Concerns over the housing market eased on Friday as two large providers of high-risk home loans struck deals to remain solvent, but stories of lending gone bad kept cropping up, leaving investors nervous.

Reuters - Drug-store chain CVS Corp. won the battle to buy Caremark Rx Inc. on Friday, as the pharmacy benefit manager's shareholders approved the $24 billion deal, thwarting a higher bid from Caremark rival Express Scripts Inc.

Business

Reuters - Wal-Mart Stores Inc. said on Friday it has withdrawn its request to open a specialty bank after immense opposition from politicians, consumer groups and community banks hampered its application with U.S. bank regulators.

Reuters - Wal-Mart Stores Inc. said on Friday it has withdrawn its request to open a specialty bank after immense opposition from politicians, consumer groups and community banks hampered its application with U.S. bank regulators.

Reuters - Time Warner Inc. could spin off a stake in online division AOL or merge it with another Internet company as early as this year, a move that would boost the value of the world's largest media company, a UBS analyst said on Friday.

AFP - Global stock markets struggled Friday to recover from the latest equities sell-off as anxious investors assessed the outlook for the US economy, dealers said.

FT.com - London equities fell in opening trade on Friday, unable to keep the momentum of the previous session after Asian markets fell overnight and Wall Street indices posted only small gains. More Info...  

Reuters - Arcelor Mittal , the world's biggest steel maker, could be interested in making a hostile takeover of South Korean steel maker POSCO Co. Ltd. (005490.KS), the Korea Economic Daily said on Friday.

Reuters - Shareholders of CVS Corp. , the No. 2 U.S. drugstore chain, on Thursday approved the company's $23.9 billion plan to buy pharmacy benefits manager Caremark Rx Inc. .

Reuters - An increase in U.S. homes for sale as a result of subprime loan borrowers defaulting on their mortgages, in addition to less construction of new homes, is likely to depress gross domestic product growth, Standard & Poor's said on Thursday.