News and Finance

Asian economies are in store for a “bleak time'' in the next 18 months as surging inflation erodes corporate earnings, Aberdeen Asset Management Asia Ltd. said.
“The majority of companies are facing rising costs: rising property costs, rising wage costs, rising raw material or energy costs,'' said Aberdeen's Hugh Young, who helps manage $47.8 […]

The U.S. budget surplus narrowed in April from a year ago, reflecting increases in spending on defense and programs such as Social Security and Medicare.
Revenue last month rose 5.2 percent, while spending increased 18.7 percent, leaving a surplus of $159.3 billion, the Treasury said today in Washington. The excess was down from a […]

Americans are already paying through the nose for gasoline, and they think it’s only going to get worse.
A CNN/Opinion Research Corp. poll found that 94% of respondents expect they will have to pay $4 a gallon sometime this year - and 78% said they figure it will hit $5.
The national average for gasoline was […]

After a 17-day run of record gas prices, the pinch at the pump is easing - by as little as possible.
According to motorist group AAA, the national average price for a gallon of regular unleaded gasoline retreated to $3.622, down one tenth of a cent from the previous day’s price.
Gas prices reached […]

Delta Airlines and Northwest reminded investors Wednesday that hard-hit financial companies haven’t cornered the market for massive writedowns.
Atlanta-based Delta posted a first-quarter loss of $6.4 billion, or $16.15 a share, and its Minneapolis-based merger partner Northwest took a first-quarter loss of $4.1 billion, or $15.78 a share. Together, the companies - both of […]

Hundreds of workers streamed out of a General Motors Corp. assembly plant that makes crossover vehicles on Thursday, threatening the automaker’s ability to build one of its most popular products.
United Auto Workers members at the plant in Delta Township walked off their jobs just after a 10 a.m. deadline passed. The factory near Lansing […]

Bear Stearns Cos. said Thursday it has delayed the filing of its fiscal first-quarter results because of disruptions caused by its buyout agreement with JPMorgan Chase & Co.
In a filing with the Securities and Exchange Commission, the investment bank said it expects to file its Form 10-Q by the extended deadline of April 14.
Bear […]

Federal Reserve Chairman Ben Bernanke told Congress on Thursday the central bank will act as needed to help the struggling U.S. economy, but it has to be mindful that growth should pick up later in the year.
The Fed “will be carefully evaluating incoming information bearing on the economic outlook and will act in a […]

Moog Inc. reported Friday first-quarter earnings and sales rose sharply with revenues up in all of the aerospace manufacturer’s segments.
East Aurora-based Moog said net earnings were $27.7 million compared to $24.06 million a year ago, an increase of 15.1 percent. Earnings per share were up 14 percent to 64 cents from 56 cents […]