Inflation fears push Wall Street lower on Fed guidance
Stocks fell as inflation fears rose after the Federal Reserve signaled higher near term inflation. The Dow dropped 94.88 to 10 470.51 and the Nasdaq slipped 18.17 to 1989.34 amid widespread declines. Alcoa announced plans to cut about 2 000 jobs nationwide and sell a stake for 870 million.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
Fed
Jack Caffrey
J.P. Morgan
New York Stock Exchange
Alcoa
Quad Cities
Norwegian Metals and Energy Group
Alcoa Davenport Works
Airlines revive $10 fare hike on domestic routes
After an initial retreat from higher prices most major U S airlines restored a $10 round trip increase on many domestic flights to cover jet fuel costs. Delta, which had paused, raised fares Tuesday morning and was quickly followed by Continental American Northwest US Airways and United's rivals, leaving United Airlines mostly at the lower level as it studied the issue.
MENTIONED IN THIS ARTICLE
U.S
Delta Air Lines Inc
Delta
Continental Airlines Inc
AMR Corp
American Airlines
Northwest Airlines Corp
US Airways Group Inc
Fed raises rates to check inflation leaders signaled more hikes
The Federal Reserve boosted the federal funds rate by a quarter point to 2.75 percent in a move aimed at curbing rising energy costs and inflation. Officials noted energy prices remain a factor while core prices stay subdued, with further rate increases likely at the next meetings in May and June. Wells Fargo and other banks lifted prime lending rates to 5.75 percent.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Fed
Sung Won Sohn
Hanmi Bank
Wells Fargo
Grassley urges Mexico to drop corn syrup tariff
Sen. Chuck Grassley urges President Bush to press Mexico to repeal its tax on high fructose corn syrup, saying the tariff harms U.S. corn producers and violates trade obligations. He also backs sanctions rhetoric but will not sponsor a measure targeting Japan over its mad cow beef ban.
MENTIONED IN THIS ARTICLE
Marlene Lucas
The
Gazette
Chuck Grassley
Riowa
Bush
Mexico
Vicente Fox
Mexican Congress
Grassley
United States
World Trade Organization
Fox
Iowa
U.S
Japan
Washington State
John Thune
Procter and Gamble Deal Questioned by Massachusetts
Massachusetts Secretary of State William Galvin questions whether Procter and Gamble underpaid for Gillette citing internal analyses that suggest greater cost savings than publicly forecast. FTC requests more information as the $57 billion merger moves through review while companies defend the deal’s price and expected synergies.
MENTIONED IN THIS ARTICLE
Boston
Massachusetts
Procter and Gamble Co
Gillette Co
Federal Trade Commission
Procter and Gamble
Crest
Tide
Head & Shoulders
Braun Electric
William Galvin
Procter and Gamble and
Gillette
Galvin
Syngenta sold unapproved bug resistant corn seed to farmers
Swiss biotech firm Syngenta admitted selling an experimental corn seed engineered to resist pests that regulators never approved. Hundreds of tons reached consumers and abroad from 2001 to 2004 while three U.S. agencies investigate potential rule violations. No health or environmental risk found. probes continue.
MENTIONED IN THIS ARTICLE
San Francisco
Syngenta AG
U.S
Syngenta
Cynthia Bergman
Environmental Protection Agency
Department of Agriculture
Food and Drug Administration
New York Stock Exchange
NewRadio Group Merges to Form NRG Media LLC
Cedar Rapids based NRG Media LLC results from the merger of Gazette Cedar Rapids group Waitt Radio and NewRadio Group. Norm Waitt chairs NRG with Mary Quass as CEO. Alta Communications backs the deal alongside Waitt Media. FCC approval pending. NRG employs about 800 across 87 stations and the Waitt Radio Network.
MENTIONED IN THIS ARTICLE
Ine Gazette
Cedar Rapids
NewRadio Group LLC
Waitt Radio Inc
Omaha
Neb
NRG Media LLC
Waitt Media
NRG Media
Midwest
Waitt Radio Network
Norm Waitt
Mary Quass
Waitt
Alta Communications
NewRadio Group
Federal Communications Commission
Quass
Wisconsin
Illinois
Marathon Media
Khak Radio
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Nasdaq
Decorah
United Airlines
Robin Urbanski
United
UAL Corp
Earryone
Iowa City
AP Stockquote
AMEX
Marion
Jimmie Presley
the Gazette
Stan Herr
Iowa Farm Bureau
Marvin Kilberger
Swisher
Melvin Henderson
Central City
American Legion Post
Thune
Canada
Marlene
Lucas
Gazettecomn
Procter and Gamble Deal
Ons.com
Cedar Rapids, Omaha
George C. Ford
Media and Alta Communications
George. Ford
Gazettecommunications.com
Yonr
Welter
Blairs Ferry
Monticello
Dubuque
New
Pioneer Workspace
First Avenue
Pioneerworkspace
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