Archive for July 15th, 2008

Intel Corp., the world's largest semiconductor manufacturer, said that profits rose more than expected in the second quarter on strong international sales bolstered by a weak dollar.

Thousands of layoffs, hundreds of grounded planes and 21 price increases may not have been enough to save the embattled airline industry from the damaging effects of high fuel prices.

The Wii-maker is counting on new games for its DS handheld console to drive sales. By Yi-Wyn Yen

Oil prices plummeted by the second-largest margin on record Tuesday as investors feared a further decline in U.S. demand after hearing comments from Federal Reserve Chairman Ben Bernanke.

Viacom has agreed to let Google strip identifying information from YouTube viewers' data before complying with a judge's order to hand over the records as part of a copyright infringement lawsuit.

The housing finance crisis and spiraling energy costs will remain a drag on the U.S. economy for the rest of the year, Federal Reserve Chairman Ben Bernanke told lawmakers in a gloomy presentation about the economic outlook.

Oil prices plummeted Tuesday, down as much as $9.26 a barrel, as investors feared that the nation's financial woes could cut into demand.

Stocks gave up a recovery attempt Tuesday, ending mostly lower, as falling oil prices failed to distract investors from slumping technology shares amid ongoing fears about the credit market and the economy.

Stocks slumped Tuesday morning as hawkish comments from Fed Chair Ben Bernanke, General Motors' restructuring news and more problems for the troubled financial sector sparked a broad market selloff.

Many key bank stocks were trading higher Tuesday afternoon following Monday's brutal session. But some think the financial sector may have yet to find a bottom.