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Oil rose above $57 amid weak crude demand

Daily Herald business - Mon, 05/18/2009 - 09:16
Oil prices rose above $57 a barrel Monday as traders considered whether last week's push to above $60 was justified amid signs of weak crude demand. Attacks on oil facilities in Nigeria helped support prices.

Lowe's 1Q profit falls, but tops Wall Street view

Daily Herald business - Mon, 05/18/2009 - 09:14
Lowe's Cos. Inc. said Monday that its fiscal first-quarter profit fell 22 percent but still managed to top Wall Street's expectations as it cut prices on fewer items.

Smirk-less Peterson remains behind bars

Daily Herald Top 5 - Mon, 05/18/2009 - 08:36
His trademark smirk gone, a shackled Drew Peterson learned in court Monday he'll remained locked up a while longer.

Retailers, service firms gain as people stay home

Daily Herald business - Mon, 05/18/2009 - 01:11
As Americans grow accustomed during the recession to spending more time at home and living in the same places longer, home-improvement companies are regaining momentum.

Scribd turns page from document sharing to selling

Daily Herald business - Mon, 05/18/2009 - 01:11
Hoping to do for the written word what iTunes did for music, the online document-sharing service Scribd is opening an Internet store that will offer new sales opportunities for authors and publishers, and possibly spawn more bargains for book lovers.

Stocks jump on renewed optimism on housing, banks

Daily Herald business - Mon, 05/18/2009 - 01:11
Reassuring news about housing and banking have convinced investors to return to the stock market. The Dow Jones industrial average is ending up about 235 points on Monday, making up more than half of last week's losses.

These cars have got to go: Dealer cuts mean deals

Daily Herald business - Mon, 05/18/2009 - 01:11
At 789 Chrysler lots across America sit 44,000 potential bargains, cars and trucks that are stuck between shellshocked dealers and a troubled company that no longer wants their services.

Obama budget chief: Economy almost bottomed out

Daily Herald business - Mon, 05/18/2009 - 01:11
The worst seems to be over, President Barack Obama's budget director said Sunday. But he also warned against taking signs of economic recovery as a reason to celebrate or delay changes in health care policy.

Gas may be cheaper, but many staying home anyway

Daily Herald business - Sat, 05/16/2009 - 23:15
When gas prices hit $4 a gallon last summer, Joyce and Ricky Eagle of Warrenton, Va., simply padded their travel budget a little before tooling around the Midwest in their motor home.

Bailout redux: Repaid money could go back to banks

Daily Herald business - Sat, 05/16/2009 - 23:15
After acing their "stress tests," some big banks are rushing to raise capital and return billions in federal bailout money. But don't expect it to replenish government coffers.

Hot in recession: Chocolate, running shoes, Spam

Daily Herald business - Sat, 05/16/2009 - 23:15
It's not all doom and gloom in the U.S. economy. Some products are bucking the recession and flying off store shelves. Sales of chocolate and running shoes are up. Wine drinkers haven't stopped sipping; they just seem to be choosing cheaper vintages.

Navajos largely unscathed by recession

Daily Herald business - Sat, 05/16/2009 - 23:15
Talk at the community center in this small Navajo town isn't as focused on the economy as it is in many places off the reservation. That's because the people living on the largest American Indian reservation have been largely unscathed by the recession.

As trucking goes, so goes the economy

Daily Herald business - Sat, 05/16/2009 - 23:15
Looking for signs of economic recovery? Try counting the number of trucks on the road.Trucks carry almost all the manufactured and retail goods in the country -- from refrigerators to lumber, detergents to toys.

GM, Chrysler to drop 1,900 dealers by end of 2010

Daily Herald business - Sat, 05/16/2009 - 23:15
A decision by troubled automaker General Motors to drop 20 percent of its dealers in the U.S. is due in part to an oversized network that created stiff internal competition and gave shoppers too much leverage to talk down prices, hurting chances for future sales.

Commuter crash raises pay, work conditions issues

Daily Herald business - Sat, 05/16/2009 - 23:15
The investigation into the commuter plane crash in upstate New York that killed 50 people in February has exposed the long hours and low pay of some U.S. regional airline pilots. Lawmakers now are wondering if such working conditions are more widespread and pose safety risks.

Movers & shakers

Daily Herald business - Sat, 05/16/2009 - 23:15
ComEd promoted Cheryl Hyman to vice president, operations strategy and business intelligence, a new department that will cover the area of operational strategic initiatives, business intelligence and operational analysis and serve as the strategic arm of the company. Hyman was previously director of government and legislative affairs.
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