Money Matters - Simplified


New Mexico cracking down on airline liquor

Albuquerque -- New Mexico officials are proposing legislation that would make airlines get state liquor licenses in order to serve alcoholic beverages while in the air.

While most airline liquor regulations currently are federally based, officials in New Mexico want to invoke more state control, The Denver Post said Wednesday.

But some airlines, such as Frontier Airlines in Denver, have said such new regulations would only act as a nuisance.

Canadian Pacific denies takeover talks

Toronto -- Canadian Pacific Railway Ltd. said Wednesday it has received a takeover "inquiry" from a Canadian asset-management company but was not in takeover talks.

The railroad's shares were halted temporarily on the Toronto Stock Exchange after The Globe and Mail reported a private-equity consortium led by Toronto's Brookfield Asset Management Inc. was preparing a takeover offer.

Qatar group bids on Britain's Sainsbury

London -- British supermarket giant J Sainsbury PLC said Wednesday it had received a preliminary takeover bid from a Qatari royal family investment group.

Britain's third-largest supermarket chain would not say how much the Delta (Two) Ltd. bid was for, but The Financial Times and other British newspapers said it was about $24.6 billion, or about $12.30 a share, including debt.

AMR Q2 results – Blame it on the weather

AMR Corp, parent of American Airlines, today posted its Q2 results for 2007. The company reported a net income of $317 million, $26 million higher than the figures for the same period last year, while


2nd Quarter Blues: Not Much to Yahoo About

There seems to be no light at the end of the tunnel yet for Sunnyvale-based Internet giant Yahoo!, whose second quarter revenues fell by 2 percent yet another year. A 2 percent fall in itself is enough to cause discomfort to shareholders of a company.

SunRocket Goes Down, Customers in the Dark

With independent and small businesses, it has been the proverbial David vs. Goliath battle. And this time around, it is not David that has been winning. SunRocket, an independent Internet phone provider, went the same way on Monday.

Reports: Altadis to be bought by Imperial

Madrid -- Spanish cigarette maker Altadis SA has agreed to be bought by Britain's Imperial Tobacco Group PLC for about $18 billion, published reports said Tuesday.

The $69-a-share all-cash offer, set to be announced Wednesday, matches a competing bid by London private-equity firm CVC Capital Partners Ltd., The Wall Street Journal in New York and The Telegraph in London reported.

Warner Music rules out new EMI bid

New York -- Warner Music Group Corp. said Tuesday it would not mount a bid for British rival EMI Group PLC, clearing a path for a $4.9 billion private-equity takeover.

Warner executives decided they could not justify an offer of more than $6.15 a share -- an amount they believed would have been required to beat London's Terra Firma Capital Partners, which had bid $5.43 a share, The Financial Times reported.