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 Business News Items |
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Claim: Australia must find oil reserves
Australia could face a crippling energy and trade crisis if further discoveries of oil are not made, it was reported.
Ferrari to open subsidiary in Japan
Ferrari says its plan to open a Japanese subsidiary this summer is part of its global strategy to enter directly into local markets for luxury cars.
Aon buys Arthur J. Gallagher units
Corp. say it plans to pay $30 million in cash for Arthur J. Gallagher & Co. reinsurance brokerage units in the United States and the United Kingdom.
Report: United renews interest in Delta
Sources say United Airlines has renewed its interest in merging with now that talks have stalled between Delta and Northwest Airlines.
Picture tube TVs vanishing
Industry officials predict picture tube televisions will disappear from the Japanese market next year as sales of flat-screen TVs increase.
Starbucks to cut 600 positions
Starbucks Corp. Friday announced a cut of 600 office positions as the coffee shop chain said it is seeking changes to help return focus to the customer.
UAW files GM healthcare proposal
The United Auto Workers Friday said it has filed a proposal that would create a union-run healthcare trust for Corp. retirees.
Former Rite Aid exec denied new trial
A federal judge in Harrisburg, Pa., denied Corp.'s former Vice Chairman Franklin C. Brown a chance at a new trial Friday.
Markets end week with late gain
U.S. markets moved sharply upward near close in New York Friday with a major index gaining more than 200 points in the last hour of trading.
Sears loses two veteran executives
Sears Holding Corp. has announced a shift in management with two veteran executives with 30 years each at the retailer resigning.
Norske Skog admits debt load is too much
Norway's largest forest products company, Norske Skog, admitted Friday that it was negotiating with banks to delay payment on three-quarters of its debt.
Crude oil prices decline
Crude oil prices fell Friday on the New York Mercantile Exchange in spite of a Turkish incursion into Iraq, which was said not to disrupt oil production.
Inflation in Italy sparks protests
A report on rising prices of daily purchases in Italy Friday sparked calls for protest from union leaders and consumer advocates.
German trams find home in California
A scarcity of competition and a resurgent interest in fuel-efficiency has boosted orders at Siemens' light rail streetcar assembly plant in Sacramento.
Vehicle sales prop up Canadian retail
Robust vehicle sales, especially sales of trucks, propped up Canadian retail figures for the month of December, Statistics Canada reported Friday.
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