TotalPicture Radio - The Voice of Career Leadership

RSS Business News
WSJ.com: US Business
US Business

Subscriber Losses Weigh on Sprint Sprint Nextel posted a wider net loss as the nation's third-largest wireless carrier continued to lose long-term subscribers and ring up costs associated with its 2005 acquisition of Nextel. AIG Leasing Unit Mulls Split-Up One of AIG's most-profitable units, an airplane-leasing giant run by one of the insurer's largest shareholders, is considering a split from the company as concerns mount that it will be weakened by its parent's financial woes. New Nuclear Plants Face High Costs Plans for a new generation of U.S. nuclear power plants are giving utilities sticker shock, with projected costs of $5 billion to $12 billion a plant. Cablevision Unveils Newsday Deal Tribune announced an agreement to sell its Long Island newspaper Newsday to Cablevision for $650 million, in a move to that will help relieve Tribune's debt. RIM Updates the BlackBerry RIM unveiled the latest version of its BlackBerry, with enhancements aimed at protecting the device's market share against rivals. IndyMac Posts Loss, Cuts Outlook IndyMac Bancorp swung to a loss and said it doesn't see a return to profitability this year, reversing the company's February outlook for a profitable 2008. Charter Posts $358 Million Loss Charter Communications reported a narrower first-quarter loss, as the cable-TV provider benefited from a 13% increase in average revenue per user and a boost in subscribers. Marketing Costs Weigh on XM XM Satellite Radio posted a wider loss on higher marketing costs as it continues to wait for FCC clearance on its merger with Sirius. XM added 303,000 net subscribers, ending the quarter with 9.3 million. South Korea Eases Rules for Blackberry South Korea is creating an exception in its rules so BlackBerry devices can be sold by its largest cellular carrier. Bribe Case Shines Light on Consultants The Kazakhstan president's daughter used U.S. security firms to learn about a bribery probe involving her father that has stymied the nation's access to $84 million in disputed funds. 'Speed Racer' Stalls, Highlighting Risk Warner Bros.'s "Speed Racer" made a weak debut that demonstrated the risks of such expensive gambits one week after "Iron Man's" success showed why Hollywood craves the rewards of a big-budget blockbuster. HSBC Records More Write-Downs HSBC disclosed $3.2 billion in write-downs in its consumer finance business plus other impairments, but said it expects to record larger first-quarter profit than a year earlier. Cumulus, Investors End Deal Cumulus Media and an investor group that had agreed to acquire the radio broadcaster in a $530 million leveraged buyout agreed to kill the 10-month-old deal. PMI Swings to a Loss PMI swung to a loss on increased claims and reserves at its U.S. operations, as the company wrote off the remaining value of its stake in Financial Guaranty Insurance. Morgan Stanley Fund Rakes In $4 Billion Morgan Stanley closed on a $4 billion new infrastructure fund, surpassing its original target of $2.5 billion and better positioning the Wall Street firm in the crowded field of investing in public-works projects world-wide. 'Upfront' Spending May Soften in '08 The economy is likely to discourage spending at this year's upfront television-ad-selling event, say media buyers and analysts. MBIA Swings to a Loss MBIA booked its third consecutive quarterly loss, as the country's largest bond insurer was hurt by a $3.58 billion loss on contracts the company has written to insure complicated securities often backed by mortgages against default. Toyota Delays Mississippi Plant Plans Toyota's plans for a new assembly plant in Mississippi are being delayed by the credit crunch in the U.S. and worries about American auto sales. American Axle Rift Remains The two sides in a union strike that shut down GM supplier American Axle haven't softened their positions after an offer by GM last week to contribute $200 million to settle the dispute. Delphi to Shift Some Pension Liabilities Delphi aims to transfer some pension liabilities to former parent GM as the auto-parts maker works to exit bankruptcy protection. Barneys CEO Is Expected to Quit Howard Socol is expected to resign as CEO of Barneys New York over disagreements with the new owners about the timetable for international expansion. Asian Companies Reach iPhone Deal Apple has reached agreement with Asian firms Singapore Telecom, Bharti Airtel, Globe Telecom and Optus to offer the iPhone in their respective markets this year. Energy-Speculation Hearings to Begin A House committee has begun an investigation into speculation in energy markets, including the role of hedge funds and investment banks, and is planning to hold hearings in May and June. Facebook Raises $100 Million Facebook raised $100 million in debt to buy equipment to handle the rapid user growth at the social-networking company. Liberty Acts to Oppose IAC Breakup Liberty Media took steps to appeal a recent court ruling allowing IAC to proceed with plans to spin off several of its businesses into new companies.