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Bloomberg Articles

ECB Keeps Interest Rates Low

The European Central Bank held interest rates at a six-decade low as expected amid slowing economic growth and inflation.

Oil Prices At $53 For Second Day

Oil prices remained around $53 a barrel for a second day amid speculation that an increasing demand will lower supplies.

Oil Rises Above $52

After a report showed that U.S. refineries operated at their lowest rate since October, Oil prices went above $52 a barrel.

Construction Dollars Go Up

Construction spending went up 0.7% in January as low mortgage rates boosted the building of new homes.

IBM Makes Effort To Relax Security Concerns

IBM offered a set of concessions to U.S. national-security regulators in an effort to overcome security concerns raised by its deal with Lenovo.

Krispy Kreme Under Investigation

The U.S. Attorney’s Office for the Southern District of New York has advised Krispy Kreme that it will seek to conduct interviews of certain current and former officers and employees of the Company.

UPS to Close Dayton Hub

UPS is closing an air-freight hub in Dayton, Ohio that it just acquired in December, ending 1,400 jobs.

Qantas Airways Hits Record Profit

Qantas Airways reported a record first-half profit following cost cuts and hedging offsetting higher jet fuel prices.

HP Profits Flat on Increased Sales

Hewlett-Packard reported flat quarterly profit on sales that rose 9.9% a week after firing CEO Carly Fiorina.

Oil Demand To Increase Quicker Than Expected

OPEC says that demand for oil will go up quicker than expected in 2005, with the economy in China not showing many signs of declining.

George Weston to Sell Salmon Business

George Weston Limited announced today its intention to sell its Heritage Salmon business.

Winn-Dixie Suffers Loss Due to Competition

Winn-Dixie stock went down 27% after the company reported a second-quarter loss due to stiff competition.

Verizon Shows Interest in MCI

Verizon has made an informal offer to buy MCI following talk that Qwest Communications was interested in buying the company.

DaimlerChrysler Earnings Disappoint

Fourth-quarter earnings fell 63% for DaimlerChrysler, and the company predicts a weak first half of this year resulting from disappointing Mercedes profits.

Menatep Files Suit Against Russia

Yukos owner, Menatep has filed a $28.3 billion suit against the Russian government for damages after it seized and sold Yukos.

Dollar Hits Three Month High Against Yen

The dollar reached its highest in three months against the yen with hopes of a U.S. budget deficit reduction.

Oil Prices Fall For Third Straight Day

Oil prices fell for the third day straight after last week’s jump in U.S. gasoline supplies, and milder weather being forecast.

Kodak Finds Errors

Eastman Kodak experienced a rather unexpected loss in the fourth-quarter amounting to $12 million.

Li-Ka Shing’s Generous Decision

Li-Ka Shing , the billionaire from Hong Kong is selling his stake in the Canadian Imperial Bank of Commerce for C$1.2 billion (US$999 million).

Microsoft CFO Retires after 16 years

Microsoft CFO, John Connors is retiring from the company to become a partner at a Seattle-area venture capital firm.

News Corp. Sweeps Up Fox

News Corp. will take full control of Fox Entertainment Group with a $5.86 billion deal.