Business - Page 19

Business

Reuters - New Century Financial Corp. shares fell 17.1 percent to an eight-year low on Friday after analysts said the largest independent U.S. subprime mortgage lender, which faces a criminal probe and has stopped making new loans, may soon seek bankruptcy protection.

Reuters - AT&T Inc. and Yahoo Inc. are negotiating how they could expand a broadband promotion deal to cover mobile Internet services and advertising, a source familiar with the talks said on Friday.

Reuters - Federal Reserve officials stressed on Friday the importance of keeping close watch on inflation expectations as a way to keep inflation in check and keep track of trends in the economy. More Info...  

Reuters - Countrywide Financial Corp. , the largest U.S. mortgage lender, on Friday told its brokers to stop offering borrowers the option of no-money-down home loans, according to a document obtained by Reuters. More Info...  

Reuters - Troubles in the subprime mortgage sector could put Wall Street on edge next week just as investors look for key economic data, including the Consumer Price Index, to shore up the market's nascent recovery after its recent plunge. More Info...  

Reuters - The U.S. economy added 97,000 jobs in February, the smallest gain in two years, but job growth in prior months was revised higher and the unemployment rate dropped, the government said on Friday in a report that eased fears over a sharp economic slowdown.

AFP - Japanese supermarket giant Aeon Co. said Friday that it had agreed to join forces with troubled rival Daiei to create Japan's largest retail group in a deal worth 62.7 billion yen (535 million dollars).

FT.com - London equities bounced back after benign US employment data cooled worries that the world's biggest economy could be poised for a damaging slowdown. More Info...  

AFP - European stock markets retreated on Friday, with shares in aerospace group EADS plunging by more than 2.5 percent after revealing the first-ever operating loss for its troubled Airbus unit.

Business

Reuters - New Century Financial Corp., whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it has received $265 million in financing, but stopped accepting loan applications after some lenders blocked its credit lines.

Reuters - CVS Corp. sweetened its $23.9 billion takeover bid for Caremark Rx Inc. on Thursday with an increased dividend, calling its newest proposal its "best and final" offer for the pharmacy-benefits manager.

Reuters - A jury dealt a blow to loss-making Internet phone provider Vonage Holdings Corp. on Thursday, ordering the company to pay $58 million plus royalties on future sales for infringing three patents owned by Verizon Communications Inc. .

Investor's Business Daily - Average 30-year rates fell to 6.14% from 6.18% in the prior week. The 15-year rate averaged 5.86% vs. 5.92%, while 1-year ARMs fell to 5.47% from 5.49%. Rates are at their lowest levels so far this year, Freddie Mac said, citing worries over last week's sell-off in stocks and concerns over the slowing U.S. economy. More Info...  

AP - The traditional excuse for disappointing retail sales in February — cold weather — may not be enough to explain sluggish results posted by U.S. merchants from Gap Inc. to AnnTaylor Corp. Unappealing fashions may also have something to do with it.

Reuters - Navistar International Corp. and Ford Motor Co. have agreed to try to resolve a contract dispute that led to a brief cutoff in diesel engine shipments for Ford's key F-Series Super Duty pickup trucks, the companies said on Thursday.

AP - Assets of the nation's retail money market mutual funds rose by $14.38 billion in the latest week to $1.007 trillion, the Investment Company Institute said Thursday. More Info...  

FT.com - European equities rose on Thursday, helped by encouraging corporate results and strength in the financial sector. The FTSE Eurofirst 300 gained 1.3 per cent to 1,486.10. More Info...  

Reuters - Retailers like Wal-Mart Stores Inc. and Federated Department Stores reported weak February sales on Thursday, saying the month's cold temperatures and stormy weather hampered results.

Reuters - Express Scripts Inc. sweetened its bid for Caremark Rx Inc. on Wednesday after suffering two setbacks in its battle to wrest the rival pharmacy-benefit manager away from a $22.8 billion deal with CVS Corp.

Reuters - The Microsoft Corp. executive in charge of closing the gap on Web search leader Google Inc is leaving the company, a source familiar with the situation said on Wednesday.