Business - Page 26

Business

Reuters - General Motors Corp. is in preliminary talks to buy Chrysler, the struggling U.S. arm of DaimlerChrysler AG (DCXGn.DE) , or to strike a strategic alliance with the rival automaker, sources familiar with the situation said on Friday.

Reuters - Google Inc. has agreed to acquire in-game advertising company Adscape Media Inc. for $23 million, according to technology site Red Herring, which cited sources familiar with the matter in a report late on Thursday.

Reuters - Fidelity Investments, the world's biggest mutual fund company, posted on Friday an 11.3 percent drop in net income, its first profit decline in four years, as it spent more to compete with rivals. More Info...  

Reuters - Wal-Mart Stores Inc. investors will be focused on the retailer's forecast for its new fiscal year and indications as to when sales at its U.S. store base may finally strengthen when the world's largest retailer reports fourth-quarter results on Tuesday.

Reuters - Microsoft Corp. Chief Executive Steve Ballmer said on Thursday analysts' forecasts for revenue from Windows Vista in fiscal 2008 were "overly aggressive."

Reuters - Electronics testing equipment maker Agilent Technologies Inc. said on Thursday that its first quarter earnings fell from a year earlier, when the company reported a large gain from the sale of its semiconductor products business. More Info...  

AP - Industrial output fell in January by the largest amount in 17 months, reflecting huge cutbacks at auto factories and weakness in housing-related industries.

Business

Reuters - Ingram Micro Inc. , the world's largest computer products distributor, posted a higher quarterly profit on Thursday, helped by a legal settlement and a lower tax rate.

Reuters - The Federal Reserve would raise interest rates if inflation moved higher, Fed Chairman Ben Bernanke said on Thursday, warning that the economy might be stronger than it appears.

Reuters - Warren Buffett's holding company Berkshire Hathaway Inc (BRKa.N) bought 1 million shares of insurer UnitedHealth Group in the fourth quarter of 2006, according to a regulatory filing.

Reuters - Avon Products Inc. on Thursday said restructuring savings should be more than double its prior expectations due to new plans it is putting into place, but said it would take a year longer than planned for its operating margin to recover. More Info...  

AFP - British retailers felt the pinch following the Christmas trading period as sales plunged by 1.8 percent in January, the biggest monthly fall in four years, official data has shown.

Reuters - French state-run company Areva (CEPFi.PA) has unexpectedly agreed a $5 billion deal to build two nuclear power plants in China weeks after a U.S. rival appeared to have won a competition that dragged on for more than two years.

Reuters - Chinese Web search leader Baidu Inc. said on Wednesday quarterly net profits quintupled, but stepped up investments and the impact of a late New Year's holiday season will cut sales growth early in 2007.

AP - Federal Reserve Chairman Ben Bernanke offered a mostly upbeat assessment of the economy Wednesday, citing improvements in inflation and housing in comments suggesting the Fed will leave interest rates alone for a while.

Business

Reuters - DaimlerChrysler (DCXGn.DE) said on Wednesday it would cut 13,000 jobs at its Chrysler operation in North America and indicated it could sell or spin off the money-losing unit, which would unwind a troubled 9-year-old merger between Chrysler and Mercedes.

AP - The expression "Don't try this at home, kids" can easily apply to small business owners who try to compile their income tax returns without the help of a tax preparer or tax prep software. More Info...  

AP - Office Depot Inc., the nation's second-largest office supplies retailer, said Wednesday its fourth-quarter earnings rose 27 percent as the chain cut operating costs and used promotions to drive holiday sales. More Info...  

Reuters - Delta Air Lines Inc. said on Wednesday its net loss widened due to reorganization costs, but reported its first full-year operating profit since 2000, and said it was on track to exit bankruptcy protection this spring.

Reuters - Australia's Alumina Ltd. , said it had no information regarding media speculation that BHP Billiton Ltd./Plc. or Rio Tinto Ltd./Plc may bid for its partner Alcoa Inc. . More Info...