Tuesday, July 29, 2008

Business News

Business News

Loss-making Alcatel-Lucent dumps CEO and chairman

Posted: 29 Jul 2008 03:12 AM CDT

By Marcel Michelson

Starbucks to close 61 of its 84 stores in Australia by Aug. 3

Posted: 29 Jul 2008 03:10 AM CDT

SYDNEY, Australia (AP) _ Starbucks will close more than two-thirds of its 84 stores in Australia by the end of the week under a restructuring plan announced Tuesday that will put almost 700 people out of work.

Nomura posts US$712 million net loss in April-June quarter on global market slump

Posted: 29 Jul 2008 03:00 AM CDT

TOKYO (AP) _ Nomura Holdings Inc., Japan's largest securities group, said Tuesday it posted a group net loss of 76.6 billion yen (US$712 million) for the April-June quarter due to a slump in the global equity market.

Auto shares slump after RBI policy

Posted: 29 Jul 2008 02:47 AM CDT

MUMBAI (Reuters) - Shares in India's top vehicle makers slumped on Tuesday after the Reserve Bank of India (RBI) tightened policy more aggressively than expected, raising concerns that interest rates on vehicle loans will rise further and slow demand.

Asia stock markets dragged down by Wall Street weakness, financial worries after Merrill loss

Posted: 29 Jul 2008 02:43 AM CDT

HONG KONG (AP) _ Asian markets fell sharply Tuesday on Wall Street's weakness, with anxiety over U.S. housing and financial sectors deepening after investment bank Merrill Lynch & Co. announced a US$5.7 billion loss from bad debt.

Toshiba swings to net loss of US$107.9 million during April-June quarter

Posted: 29 Jul 2008 02:37 AM CDT

TOKYO (AP) _ Japanese electronics maker Toshiba said Tuesday it swung to a net loss of 11.6 billion yen (US$107.91 million) in the April-June quarter due to a slump in semiconductor sales.
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