Nosedive in airline stocks after year of highs
A year after airline shares peaked on takeover buzz, the Dow Jones airline stock index plunged 54.49 percent over the year through August, with UAL AMR USAir and Delta posting steep declines as oil price surges and recession fears hit the sector. Analysts warn higher fuel costs and weaker demand curb margins while investment chatter shifts away from takeovers.
MENTIONED IN THIS ARTICLE
New York
UAL Corp
Im Bn
AMR
American Airlines
Usair
Delta Air Lines
Middle East
UAL
Financial markets weigh political risk amid Mideast standoff
The Persian Gulf crisis weighs on markets as oil prices rise and stocks waver. Unemployment edged up to 5.6 percent, retail auto and factory sales slowed, and factory activity slipped. Moody’s notes big banks face tough times amid a wave of new buyouts while nine major lenders see profit declines in Q2.
MENTIONED IN THIS ARTICLE
New York
Persian Gulf
Iraq
Kuwait
Mideast
Forbes Magazine
Maine
U.S
Havana Harbor
National Association of Purchasing Management
Federal Reserve
Guinness executive loses wealth and freedom after trial
Ernest Saunders former chief executive of Guinness PLC jets to ruin after a five year jail term for illegal manipulation in the 1986 Distillers takeover case. Jury also convicts Gerald Ronson and Anthony Parnes with Jack Lyons to follow sentencing. Saunders once led Guinness to a market surge from 168 million to 5.6 billion in five years.
MENTIONED IN THIS ARTICLE
London
Icarus
Ernest Saunders
Guinness PLC
Britain
Switzerland
Saunders
Guinness
Distillers Ltd
Denis Henry
Gerald Ronson
Heron International PLC
Anthony Parnes
Ronson
Jack Lyons
Argyll
Benjamin Guinness
Dublin
James Saunders
Ernest
Economic strain grows as debt crisis hits states and banks
The piece outlines rising debt strains in the United States as economy slows. Bank failures, bankruptcies, and budget deficits press governments, businesses, and individuals to cut spending and consider taxes. It notes increased bankruptcies, missed repayments, and rising real estate and corporate junk bond defaults, with Dukakis cited on state deficits and tax impact.
MENTIONED IN THIS ARTICLE
New York
Purdue University
Massachusetts
Eee S. Dukakis
Also Mentioned on This Page
United Airlines
Stephen Leeb
Indicator Digest
Paul Nisbet
Prudential Bache Securities
Fed
Bush Administration
John J. Easton Jr
Moody's Investors Service
Crete
BankAmerica Corp
Bankers Trust New York Corp
Chase Manhattan Corp
Chemical Banking Corp
Citicorp
Continental Corp
First Chicago Corp
Manufacturers Hanover Corp
J.P. Morgan & Co
Federal Deposit Insurance Corp
Senate
Ana.aee
Aan
Horus
N. Dixie
Crestwood Shopping Center
Perm
Fashion Board
Jerry
Teen Board
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