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Airline profits expected to fall as fuel costs surge

Mon, 06/06/2011 - 14:49 by Jamie Anderson

Natural catastrophe in Japan, political unrest in the Middle East and North Africa and spiraling rise in oil prices were cited as the main reasons behind the International Air Transport Association (IATA) warning that airline industry profits will dip in 2011.

IMF agrees on $3bn loan for Egypt

Mon, 06/06/2011 - 12:28 by Jamie Anderson

The International Monetary Fund (IMF) will give a loan of $3 billion to Egypt to enable the country come out of the financial quagmire that it finds itself in.

Walmart Express to open in Arkansas on June 8

Sun, 06/05/2011 - 14:01 by Jamie Anderson

The first drugstore-sized Wal-Mart is on the anvil. Instead of the humungous structures that one normally associates with the retail chain, soon Wal-Mart will be seen in a relatively miniature form.

Wal-Mart names new bosses for China operations

Mon, 05/30/2011 - 14:30 by Jamie Anderson

Acting swiftly after two high-level departures left leadership gaps in its Chinese management, Wal-Mart Stores named Mario-Jose Medina as the chief financial officer and Del Sloneker as the chief operations officer for China.

USPS faces tortuous road ahead

Sun, 05/29/2011 - 14:22 by Jamie Anderson

If the organization is the second-largest civilian employer, employing 571,566 full-time workers, in the United States, next only to retail behemoth Wal-Mart Stores, one has a reason to believe that it is huge.

3 leading US banks join hands for online payment service

Thu, 05/26/2011 - 17:01 by Anter Prakash Singh

Three leading banks of the United States, Bank of America, JPMorgan Chase and Wells Fargo have come together to introduce a service that would allow customers transfers funds through text or e-mail messages.

US Treasury sells part stake in AIG

Wed, 05/25/2011 - 15:03 by Jamie Anderson

In a key move towards relinquishing its ownership in the American International Group Inc. (AIG), the U.S. Treasury sold 300 million shares in the financial services behemoth and garnered $8.7 billion from the offering.

Barnes & Noble finds white knight in Liberty Media

Fri, 05/20/2011 - 14:32 by Jamie Anderson

Beleaguered by intense competition from electronic readers such as Amazon’s Kindle, the bookstore chain Barnes & Noble Inc. (BKS) had put itself up for sale last summer.

Wal-Mart to pick up stake in China's e-commerce company

Sun, 05/15/2011 - 14:56 by Jamie Anderson

Online sales in China are rising really fast and, in the coming years they are expected to equal online sales in the United States.

Raj Rajaratnam convicted on insider trading charges

Thu, 05/12/2011 - 13:41 by Anter Prakash Singh

In what can be termed as largest hedge fund insider trading case, hedge fund billionaire, Raj Rajaratnam, 53, has been found guilty of 14 counts of securities fraud and conspiracy.

Fannie Mae seeks additional $8.5bn in federal aid

Mon, 05/09/2011 - 14:14 by Anter Prakash Singh

Fannie Mae will be seeking additional aid from the government after facing losses worth $6.5 billion in the first quarter of this year.

SBA to offer disaster loans to storm victims

Sun, 05/08/2011 - 22:15 by Nilankeeta Roy ...

Following the disaster declaration by the President Barack Obama for several counties affected by the tornadoes, storms, high winds and flooding in Tennessee, the Small Business Administration has announced Physical and Economic Injury Disaster Loans to assist the victims.