AP Financial News Summary at 10:15 a.m. EDT
Sep. 14, 2006
Retail Sales Slow, Jobless Claims Drop
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WASHINGTON (AP) _ Retail sales in August posted the weakest showing in two months as worried consumers curbed their spending habits.
Ford Said to Face Big Losses
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DEARBORN, Mich. (AP) _ Ford Motor Co.'s financial officials are estimating the automaker could lose up to $9 billion this year including the costs of a massive restructuring plan, a newspaper reported Thursday.
Segway Recalls Scooters for Injury Risk
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NEW YORK (AP) _ Segway Inc. is recalling all 23,500 of the self-balancing scooters it has shipped to date because of a software glitch that can make its wheels unexpectedly reverse direction, causing riders to fall off.
Bear Stearns 3Q Profit Rises
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NEW YORK (AP) _ Bear Stearns Cos. on Thursday reported its third-quarter profit climbed 16 percent as the Wall Street investment bank relied on strong trading results to shake off a sluggish period for mergers and acquisitions.
GE to Sell Materials Unit for $3.8B
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FAIRFIELD, Conn. (AP) _ General Electric Co. said Thursday it agreed to sell a majority stake in its advanced materials unit to private investment group Apollo Management LP in a deal it valued at $3.8 billion.
Price Data Sends Stocks Falling
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NEW YORK (AP) _ Stocks fell in early trading Thursday as investors looked past an unexpected rise in retail sales and focused on an increase in import prices.
Official: Charges Possible in HP Scandal
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SAN JOSE, Calif. (AP) _ California's attorney general could file criminal charges within a week in the boardroom spying scandal at Hewlett-Packard Co., a spokesman said Wednesday, and experts say the company's top brass and third-party detectives are all possible targets.
Oil Prices Rise in Asian Trading
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KUALA LUMPUR, Malaysia (AP) _ Oil prices rose in Asia Thursday, extending overnight gains after the United States reported a drop in the nation's crude inventories as the International Monetary Fund predicted prices could again rise _ and impact global growth.
IMF: Housing Market Could Slow U.S. GDP
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SINGAPORE (AP) _ The U.S. economy is headed for a slowdown caused by a cooling housing market, the International Monetary Fund warned Thursday, and that could drag on global growth. But China's booming economy shows no sign of slowing down, and that prompted the IMF to raise its global growth forecast for this year and next.
Prosecutors Seek $2.5M From Livedoor
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TOKYO (AP) _ Prosecutors on Thursday demanded a 300 million yen ($2.5 million) fine against the disgraced Japanese Internet startup Livedoor for a scam to inflate stock prices and doctor company books.