Business - Page 23

Reuters - Federal Reserve Chairman Ben Bernanke said on Wednesday this week's sharp stock market drop had not changed the Fed's view that the U.S. economy was sound, remarks that helped shaken markets regain confidence.

AP - Federated Department Stores Inc. reported strong fourth-quarter profits Tuesday and said it will change its name to Macy's Group Inc. But the department store operator — still struggling to integrate former May Department Stores Co. stores — offered a profit forecast well below Wall Street expectations.

AP - Alan Greenspan and the Wall Street nosedive aside, economists think the probability of a U.S. recession this year is fairly low and the likelihood of one in China is even slimmer.

Reuters - Great Atlantic & Pacific Tea Company Inc. said on Tuesday it was in talks to acquire rival supermarket chain Pathmark Stores Inc. for about $653 million in cash and stock. More Info...  

Reuters - Existing home sales posted their largest gain in two years last month, a sign the housing market may be climbing out of a slump, but orders for big-ticket factory goods fell as businesses showed wariness about the economy's health.

Reuters - Airbus unions threatened strikes over job cuts at the troubled planemaker on Tuesday, dampening efforts by European governments to calm the fears of its 55,000 staff on the eve of a key restructuring plan.

AP - Q. It's getting close to the deadline for filing income tax forms, but I don't think I can pay what I'm going to owe this year. What should I do? More Info...  

Reuters - World number two truck maker Volvo said on Tuesday it would buy the road construction machinery business of diversified U.S. manufacturer Ingersoll-Rand for $1.3 billion in cash.

Reuters - Wal-Mart Stores , the world's largest retailer, said on Monday it acquired a 35 percent stake in China's Bounteous Company, expanding its presence in the world's most populous country.

Reuters - Microsoft Corp. said on Monday it will buy Medstory Inc., a California-based start-up company that develops Web search technology for medical information. More Info...  

AP - Nordstrom Inc. said Monday its fourth-quarter profit rose 22 percent in the period that includes the crucial holiday season. The results just missed Wall Street expectations, sending the clothing retailer's shares lower in after-hours trading.

Business

Reuters - Texas power company TXU Corp. said on Monday it agreed to be acquired by a group led by private equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group for $31.8 billion in the largest leveraged buyout in history.

Investor's Business Daily - When the U.S. began slowing last year some analysts began hoping for a trade-off. More Info...  

Reuters - The U.S. Air Force should reopen the competition for a $15 billion helicopter contract awarded to Boeing Co. last year, the Government Accountability Office said on Monday, backing a protest by Lockheed Martin Corp. and Sikorsky Aircraft.

Reuters - Citigroup , said on Sunday it had named former American Express executive Gary Crittenden as its CFO, the latest in a series of management reshuffles geared to improve performance at a bank whose earnings growth has been lagging.

Reuters - Mexican broadcaster Televisa will be allowed to buy a stake in cable company TVI only if it agrees to offer its popular free channels to competitors, Mexico's anti-trust agency said on Sunday.

Business

Reuters - Warren Buffett, who last year generated a 24 percent return for Berkshire Hathaway Inc. (BRKa.N) (BRKb.N) shareholders, may this week tell investors and followers to lower their sights for 2007.

Reuters - Stock investors will look to earnings reports from retailers Federated Department Stores Inc. and Target Corp. this week as well as new soundings on consumer sentiment as they to try to get a handle on the state of the U.S. economy.

AFP - Bank of Japan Governor Toshihiko Fukui said Sunday that the Japanese economy can grow at a faster pace if the nation's ample household assets shift to riskier investment, reports said.

Reuters - Privately-owned British fashion retailer New Look may be sold for 2 billion pounds ($3.91 billion) after private-equity firms Apax and Permira received at least three bid approaches for the firm, The Sunday Times said. More Info...