Reacting to $90-plus a barrel oil prices, airlines, many of whom are beginning to see profits again, are passing along increases to passengers. Led by AMR Corporation's (NYSE: AMR) American Airlines, the largest carrier, increases per ticket are being increased about $20, according to the Wall Street Journal (subscription required).
The UAW may not face stiff opposition among its rank and file member for a new four year labor contact with Ford Motor Company (NYSE: F), as local leaders in Detroit approved a tentative four year deal, reported the Wall Street Journal.
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The New York Post reported that two fired Dow Chemical Company (NYSE: DOW) executives shopped the company to investors, according to industry consultants' affidavits filed by the company to support its claims that the execs breached their corporate duties.
The Telegraph reported that CIBC World Markets' financial services analyst Meredith Whitney has called for Chuck Prince's successors to break up Citigroup (NYSE: C).
Several private equity firms are competing to buy the 32% stake in Sony Corporation's (NYSE: SNE) Sony Entertainment Television currently held by Indian investors, reported the Economic Times.
News Corp.'s (NYSE: NWS) MySpace is investing heavily in games to go along with its successful music and video offerings, and beginning in January, thanks to a deal with games distributor Oberon, will offer hundreds of free "casual" games, reported the Wall Street Journal (subscription required).
The European Court of Justice in Luxembourg overturned a law that had been on the books in Germany since 1960 to prevent hostile foreign takeovers, reported the Wall Street Journal. The immediate result is expected to be a takeover attempt by Porsche, a 31% holder of Volkswagen (OTC: VLKAY) shares.
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Mobile Telecom company France Telecom (NYSE: FTE) is close to creating a joint venture for long distance operations in India with Indian optical storage manufacturer Moser Baer, reported the Economic Times.
British financial services company HSBC Holdings (NYSE: HBC) is looking to sell Marbles, the online credit card business it acquired in 2003, reported the Independent.
The first undersea telecommunications cable linking China and the U.S. -- called the Trans-Pacific Express -- has begun to be constructed, reports the Associated Press, and it's expected to be in place before the Beijing Olympics next July. Verizon Communications (NYSE: VZ) is involved and says the cable will be 11,000 miles long and cost about $500M.
American Electric Power (NYSE: AEP) has agreed to pay penalties totaling $15M to end a Clean Air Act lawsuit brought by the Justice Department for the EPA, reported the Wall Street Journal (subscription required).
In 1992 Ecuador left OPEC, but this month is expected to rejoin the organization, according to the Wall Street Journal.
The UK is going to purchase 140 armored vehicles from Force Protection (NASDAQ: FRPT) for use in Iraq and Afghanistan, according to the Associated Press.
India's Reliance Retail has won the exclusive marketing and distribution rights for Apple (NASDAQ: AAPL) stores in India. The first Apple-owned store in India is scheduled to open at the end of this month, reported the Economic Times.
Cisco Systems Inc (NASDAQ: CSCO) and Haier Group, China's largest manufacturer of appliances, have agreed to work together on home networking in China and international markets, according to the Wall Street Journal.
India's Wipro Limited (NYSE: WIT) has received a five year, $130M contract from British utility Thames Water to provide integrated IT services, reported the Economic Times.
Barron's Online's "Inside Scoop" column reported that from Sept. 19-21, former Wal-Mart Stores Inc (NYSE: WMT) CEO David Glass grossed more than $13.3M by selling 300K Wal-Mart shares on the open market, according to SEC.
The UAW walked out on General Motors Corporation (NYSE: GM) yesterday because negotiations stalled when the United Auto Workers said they should get some sort of job guarantees from GM, reported the Wall Street Journal.
The Financial Times reported that BP's (NYSE: BP) Q3 revenue will be "dreadful" and the company will undergo a far-reaching shakeup, BP CEO Tony Hayward has reportedly told his staff.
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Having completed a deal with aQuantive for $6B, Microsoft Corporation (NASDAQ: MSFT) wants to make one more deal this year. The question the New York Post asks is, will it be with Facebook or Yahoo Inc (NASDAQ: YHOO)?
The Economic Times reported that Reliance Retail is in talks with the Gap Inc (NYSE: GPS) for a franchisee arrangement for Reliance Retail's apparel business.
Barron's Online's "Inside Scoop" column reported that director James Burke purchased $1.1M worth of AnnTaylor Stores Corporation (NYSE: ANN) stock on Friday, marking the first open-market purchase by an AnnTaylor insider in at least five years, according to InsiderScore.com.
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According to the U.K. Times, British bank Barclays (NYSE: BCS) has invested $1.5B in Golden Key, a fund that has gotten into trouble as a result of the global liquidity squeeze.
Aluminum company Alcan Inc (NYSE: AL) is reportedly in talks to sell its packaging unit to India's Essel Group, reported the Economic Times.
Music publishers have intensified their efforts to shut down popular Web sites that publish song lyrics without permission, reported the New York Post. The publishers are also demanding that Google Inc (NASDAQ: GOOG) and Yahoo! (NASDAQ: YHOO) remove all references to the offending sites from their search engines.
Barron's Online's "Inside Scoop" section reported that CVS Caremark Corporation (NYSE: CVS) chairman Edwin Crawford sold 120K shares worth $45.4M Friday and Tuesday after exercising the same number of options for $2.8M.
British mobile telecom company Vodafone Group (NYSE: VOD) has received a $2B tax bill from the Indian government, reported the U.K. Times.
The Economic Times reported, citing a source close to the development, that Ranbaxy has joined the bidding on Bradley Pharmaceuticals Inc (NYSE: BDY) by placing a preliminary non-binding bid on the company.
Amid mounting criticism for its role in the subprime crisis, McGraw Hill Companies Inc (NYSE: MHP) replaced Kathleen Corbet, the president of Standard & Poors, with Deven Sharma, a McGraw Hill senior VP who has been with S&P since the end of last year, reported the Wall Street Journal.
Barron's Online's "Inside Scoop" column reported that Aeropostale Inc (NYSE: ARO) CFO Michael Cunningham sold $2.1M in stock Monday at an average price of $22.43 per share, according to SEC data.
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Indian IT outsourcing companies Infosys Technologies (NASDAQ: INFY) and Wipro Limited (NYSE: WIT) have reportedly both shown interest in buying out the US-based high-end analytics company MarketRx, which is believed to be worth between $150M and $160M, reported the Economic Times.
Ratan Tata, chairman of the Tata Group of India, has confirmed his interest in the Jaguar and Land Rover units of Ford Motor Company (NYSE: F), according to the Wall Street Journal.
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The Washington Post reported that Home Depot Inc (NYSE: HD) has made a deal to sell its supply arm, HD Supply, for $8.5B, down from the original price of $10.3B, to a consortium of private equity firms headed by Carlyle Group, inside sources say.
According to a sources with knowledge of the discussions, Altria Group Inc (NYSE: MO) is considering spinning off its Philip Morris International division as part of a restructuring plan to increase shareholder value, reported the New York Times.
Callaway Golf Company (NYSE: ELY), which closed Wednesday at about $17.42, could swing lower as the peak summer season wanes amid continued concern about overall consumer discretionary spending, according to Barron's Online's (subscription required) "Weekday Trader" section.
Coca-Cola (NYSE: KO), Wipro Limited (NYSE: WIT) and Danone are in talks with Ramesh Chauhan to buy Bisleri, the bottled water brand that has become a generic name for the product category, reported the Economic Times.
Delta Airlines Inc (NYSE: DAL), sprinting to the start as it emerges from bankruptcy, is expected to order about 125 Boeing Company (NYSE: BA) 787 jetliners by the end of 2007, reported the Wall Street Journal (subscription required).
HSBC Holdings (NYSE: HBC) is preparing to push its banking operations into China as part of a move to tap into the emerging wealthy consumer base in Asia, reported the Financial Times (subscription required).
The Financial Times also reported that AT&T (NYSE: T) is not considering making an offer to buy British mobile telecom company Vodafone Group (NYSE: VOD), said AT&T's new CEO, Randall Stephenson, contrary to previous speculation.
OTHER PAPERS:
Fortune reported that Billionaire supermarket mogul Ron Burkle may announce a long-shot bid this week for business news and information company Dow Jones and Company (NYSE: DJ), according to a source.
The Economic Times reported that Accenture Ltd (NYSE: ACN) is in joint venture talks with Indian telecom operator Reliance Communications, which could have an exit clause giving Reliance the opportunity to buy Accenture in the future.
The Wall Street Journal reported that President Bush picked former advisor Robert Zoellick to take over the World Bank from Paul Wolfowitz; Mr. Zoellick, now a vice chairman at Goldman Sachs Group Inc (NYSE: GS), was a trade representative and deputy secretary of state.
The Institutional Shareholder Service has advised shareholders of medical device maker Biomet Inc (NASDAQ: BMET) to turn down a $10.9B private equity deal for the company, according to the Wall Street Journal.
Rather than focus on potential take-out targets, Barron's Online's "Weekday Trader" said that the smart bet for investors is to focus on companies with rising profits, cash flows and dividends, such as Loews Corp-Carolina Group (NYSE: CG) and Imperial Tobacco Group plc (NYSE: ITY), which boast free cash and dividends.
The Wall Street Journal's "Heard on the Street" column reported that analysts and investors think there's more room for growth at Tiffany & Co (NYSE: TIF).
The Financial Times reported that institutional investors are looking to oust a board member at Exxon Mobil Corporation (NYSE: XOM) due to his "inaction" on their climate change strategy.
The Economic Times reported that Wal-Mart Stores Inc (NYSE: WMT) may buy a stake in Indian logistics company Radhakrishna Foodland, citing the Indian company's founder.
The Wall Street Journal (subscription required) reported that Wal-Mart Stores (NYSE: WMT) is helping to bring eBay Inc's (NASDAQ: EBAY) Skype "to the masses," by selling Skype Internet calling phone gear in the electronics section of its stores.
The Financial Times (subscription required) reported that the Bancroft family, which control a majority of the voting shares of Dow Jones and Company Inc (NYSE: DJ), is split over the idea of meeting with News Corporation (NYSE: NWS) Chairman Rupert Murdoch to discuss his $5B offer for Dow Jones.
According to the Sunday Telegraph, Rio Tinto (NYSE: RTP) has hired Morgan Stanley to help defend itself in the event of an unsolicited takeover approach.
DigiTimes.com reported that the ATI Radeon HD that was just introduced by Advanced Micro Devices Inc (NYSE: AMD) has fallen short of expectations in terms of price, performance and energy efficiency.
The Wall Street Journal (subscription required) reported that Hewlett-Packard Company (NYSE: HPQ) has pushed into the high-end copier market with two new multi-function color printers.
According to people close to the matter, Sir Richard Branson's Virgin Atlantic Airways has agreed to but up to 24 of Boeing Company's (NYSE: BA) 787 Dreamliners, reported the Wall Street Journal.
OTHER PAPERS:
The Economic Times reported that US investment bank Lehman Brothers Holdings Inc (NYSE: LEH) will invest almost $80M in an Indian special economic zone, or SEZ, and may invest up to $300M in the venture.
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