PHILADELPHIA (Reuters) – Anheuser-Busch Co plans to reject InBev NV’s unsolicited .3 billion takeover offer as too low, saying it undervalues the company, a source familiar with the situation said on Wednesday.
PERTH (Reuters) – Oil held above 4 a barrel on Thursday, steadying after a drop of more than the previous session after U.S. government data showed a surprise increase in domestic crude stocks last week.
BOSTON (Reuters) – Oracle Corp reported a 27 percent rise in quarterly profit as sales of new software beat expectations, but the company gave a cautious outlook citing economic uncertainties, and its shares fell 3 percent.
NEW YORK/CALABASAS, California (Reuters) – Countrywide Financial Corp , widely blamed for helping foment the U.S. housing crisis through free-wheeling lending, was sued for alleged deceptive mortgage practices by officials in its home state of California and in Illinois on Wednesday.
WASHINGTON (Reuters) – The Federal Reserve held interest rates steady on Wednesday and signaled it was in no hurry to raise them, even as it voiced greater concern about inflation.
DETROIT (Reuters) – Goodyear Tire & Rubber Co said on Wednesday it will close a tire plant in Australia by the end of 2008, cutting 600 jobs, under its long-term plan to eliminate high-cost production capacity.
TORONTO (Reuters) – Research In Motion on Wednesday posted a profit outlook that fell short of analyst expectations, sending its shares 8 percent lower, even as the maker of the BlackBerry smartphone posted quarterly earnings that more than doubled.
NEW YORK (Reuters) – Yahoo told shareholders on Wednesday that the search advertising pact it signed with Google earlier this month was “financially attractive” and struck the right strategic balance.
NEW YORK (Reuters) – Prosecutors are looking into whether two former Bear Stearns hedge fund managers, who were indicted last week on conspiracy and securities fraud charges for misleading investors, also broke the law in their dealings with banks, BusinessWeek reported on Wednesday.
NEW YORK (Reuters) – Stocks rose on Wednesday, as the price of oil declined, while the Federal Reserve held its key interest rate steady and reduced expectations for a rate hike at its next meeting.