Business News

The chief executive of Delta Air Lines Inc said on Tuesday any merger must meet several conditions, including the protection of worker seniority, and added that Delta has a strong stand-alone plan.

Bigger may not be better for Delta and Northwest pilots.
A possible merger between Delta Air Lines Inc and Northwest Airlines Corp to create the world's largest airline is in a holding pattern as the carriers' pilots wrangle over integrating seniority lists for more than 11,000 pilots.

Oil surged on Tuesday to a record settlement as investors reacted to weakness in the U.S. dollar following a batch of gloomy economic data.

Oil surged over $101 a barrel on Tuesday to within pennies of a record as investors reacted to weakness in the U.S. dollar following a batch of gloomy economic data.

General Electric Co's infrastructure unit will likely make several acquisitions in the power storage, power management and control systems sectors in 2008, the unit's chief executive said on Monday.

Getty Images Inc said on Monday it had agreed to a takeover bid of $2.1 billion from Hellman & Friedman, putting the struggling photo and video supplier in the hands of a private equity firm.

Getty Images Inc said on Monday it agreed to be bought by Hellman & Friedman affiliates for $34 per share in cash, in a deal it said was worth $2.4 billion, including the assumption of debt.

Bank Muscat, whose shares surged as much as 8.5 percent on Sunday, has no plans to sell any stake in HDFC after India's third-biggest lender agreed to buy Centurion Bank of Punjab.

A proposed acquisition of Centurion Bank of Punjab by HDFC Bank, India's No. 3 lender, is likely to be valued at 100-120 billion rupees ($2.5-$3.0 billion), the Business Standard said on Sunday.

When talks to open up the telecoms sectors started in 1994, the EU's negotiator did not know what an e-mail was, mobile phones and the Internet were in their infancy, and it was very expensive to call abroad.

Microsoft Corp suggested on Friday that it had no plans to make major lay-offs if it succeeded in buying Yahoo Inc, saying there were plenty of employee opportunities throughout the company.

Oil rose to near $99 a barrel on Friday as an incursion into Iraq by Turkish troops and cold weather in the U.S. Northeast outweighed concerns about mounting problems in the U.S. economy.

Oil rose towards $99 a barrel on Friday, led higher by strong prices for heating fuel and supported by rising tensions in the Middle East after thousands of Turkish troops crossed into northern Iraq.

Oil drifted down to $98 a barrel on Friday, pulling further away from its recent record above $101 as rising U.S. crude and gasoline stockpiles added to evidence of slowing demand in the world's largest consumer.

Daily Variety, the venerable show business "trade" magazine and Hollywood fixture for over 70 years, was put up for sale on Thursday as part of a cost-cutting plan by its parent company, Reed-Elsevier.

Britain's parliament passed legislation on Thursday allowing the government to nationalise Northern Rock, five months after the bank became a high-profile casualty of the global credit crunch.

Ministers could meet in April to secure a possible breakthrough in the stalled Doha round of World Trade Organisation trade talks, German Deputy Economy Minister Bernd Pfaffenbach said on Thursday.

A steady rise in U.S. consumer prices in January pointed to persistent inflation pressures despite fresh signs on Wednesday that the declining housing sector remains a drag on the economy.

Software firm HCL Technologies Ltd on Wednesday said it has acquired U.S.-based Capital Stream Inc. in an all-cash deal for $40 million.

India allowed export of 51,010 tonnes of non-basmati rice to Bangladesh waiving a ban on the export of the commodity, the director general of foreign trade said in a statement.