Archive for August 8th, 2008

Oil prices tumbled a 3-month low near $115 a barrel Friday as the dollar rallied strongly against slumping foreign currencies and concerns about a Turkish supply disruption were eased.

Read full story for latest details.

Read full story for latest details.

Airline stocks went sky-high on Friday, as oil prices - the industry's nemesis - plunged to three-month lows.

Sirius XM CEO Mel Karmazin finally got what he wished for with the merger of Sirius and XM last month. But for listeners hoping for a kaleidoscope of combined programming choices, the wait is on.

Big Blue launches effort to transform cell phones into pocket PCs.

Money-losing airlines are trying to find creative ways to raise cash. That includes slapping an ad on just about any part of the plane that doesn't move - including the air-sickness bag.

It's been the talk of the music industry for months. Perhaps as soon as September, MySpace, the huge social networking site with 120 million users, will unveil an ad-supported music service with free songs from three of the four major record labels: Universal, Sony and Warner Music. MySpace CEO Chris DeWolfe has promised it will launch "a new chapter in the story of modern music."

Make no mistake: The worst probably is not over for financial firms. Not by a long shot.

The Massachusetts Secretary of State's office says Swiss bank UBS has reached a $19.4 billion agreement to buy back bonds to settle claims that it misled investors into buying high-risk securities.