GM Sees Profits Drop Amid Costs and Europe Woes
General Motors reported a 37 percent drop in fourth quarter profit as rising health care costs and weaker European operations weighed on results. The firm forecast break-even or better results in the next quarter with cautious expectations for 2005, citing lower production and a shift to smaller vehicles.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
U.S
John Devine
Merrill Lynch
John Casesa
GM Europe
Casesa
Hazim Yahya
Walker Chevrolet
Franklin
Tenn
Southwest profits as rivals post losses in 2004 airline results
Southwest Airlines reports a fourth quarter profit amid high fuel costs and low fares while American and Northwest lose more than $800 million. The earnings split underscores a wider industry gap, with investors pushing airline stocks lower as executives warn 2005 will remain tough. AMR’s Gerard Arpey calls Q4 disappointing yet notes 2004 was American’s best in four years.
MENTIONED IN THIS ARTICLE
Dallas
Southwest Airlines
American Airlines
Northwest Airlines
Gerard Arpey
American
AMR Corp
Neidl
U.S
Northwest Airlines Corp
Doug Steenland
Boeing Co
Postme
Pe Amr
Crude oil prices edge lower on profit taking
In Vienna traders trimmed prices as a U S energy report showed higher crude inventories, offsetting optimism about supply meeting demand. Analysts expect a bullish longer term even if OPEC holds current output at the January 30 meeting. February light crude fell to 47.55 dollars per barrel after the DOE noted a 3.4 million barrel weekly inventory rise.
MENTIONED IN THIS ARTICLE
Vienna
Austria
U.S
Organization of Petroleum Exporting Countries
New York Mercantile Exchange
Department of Energy
December CPI Dip Amid Energy Price Moderation
Consumer prices fell 0.1 percent in December as energy costs eased, capping a 3.3 percent rise for 2004 driven by gasoline and fuel bills. Analysts warn inflation may ease this year if crude oil prices retreat, though Middle East tensions keep risk of supply disruption.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Middle East
Nariman Behravesh
Global Insight
Beige Book signals economy moving ahead despite mixed Cleveland data
The Federal Reserve reports that shoppers, tourists, and factories show solid forward momentum with inflation not threatening growth. Eleven of twelve districts report expansion from late November to early January, while Cleveland sees mixed activity. Analysts expect a 0.25 percentage point rate hike to 2.50 percent at the upcoming policy meeting.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Cleveland
Also Mentioned on This Page
THE
Associated Press
USS
Southwest Reports
Northwest
Shahid Meer, M.D
Odessa Family Clinic
N. Golder
3Rd & Golder
Golder Pharmacy
Tom
Hester
NBC
Wcm
Elegante Disis
Midland Plaza
Bharamata
Texas
Farr
Odessa Jibs Parkway
University
Dtl
Odessa
Wwufitness
Bosworth Times
Midland
TXU
Bosworth
Midland Odessa
Kerrville
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!