Ford reports decline in vehicle sales in June
Ford Motor Co. posted a 7.8 percent drop in brand sales from June 2000 despite record June Explorer sales. GM U.S. sales slipped about 3 percent while light trucks held strong. DaimlerChrysler's Chrysler division rose 1.4 percent in U.S. sales.
MENTIONED IN THIS ARTICLE
Ford
Detroit
Ford Motor Co
Lincoln
Mercury
U.S
General Motors Corp
Chrysler
DaimlerChrysler AG
EU blocks GE Honeywell merger in landmark veto
The European Union halted General Electric Co and Honeywell International Inc bid worth 41 billion dollars, the first time a US to US merger was blocked solely by European regulators. EU Competition Commissioner Mario Monti said the deal would reduce aerospace competition and raise prices for airlines. GE considered appeals as stakeholders weighed remedies and executives voiced disappointment.
MENTIONED IN THIS ARTICLE
First Union
SunTrust
Charlotte, N.C
Wachovia Corp
SunTrust Banks Inc
Wachovia
First Union Corp
Federal Reserve System
Charlotte
Federal Reserve
Treasury Department
European Union
Mario Monti
Strasbourg
France
General Electric
Honeywell
U.S
General Electric Co
Honeywell International Inc
Executive Commission
Commission
Monti
Gary Sheffer
Jack Welch
Nicholas Heymann
Prudential Securities
Heymann
Factory orders surge as May gains beat expectations
U S factory orders rose 2.5 percent in May, the largest increase in nearly a year, led by stronger demand for cars, semiconductors, and industrial machinery. Transportation orders jumped 3.5 percent after a 9.4 percent April drop, signaling cautious signs of improvement amid a broader manufacturing recession.
MENTIONED IN THIS ARTICLE
National Association of Purchasing Management
Federal Reserve
Coke may revise terms of P&G joint venture
Atlanta AP report says Coca-Cola plans to seek changes in the proposed joint venture with Procter & Gamble to market beverages and snacks. Coke would contribute Minute Maid brands while P&G brings Sunny Delight and Pringles. Both firms expect completion this year amid investor caution.
MENTIONED IN THIS ARTICLE
Atlanta
Coca-Cola Co
Procter & Gamble
Coke
Rob Baskin
P&g
Margaret Swallow
Five- Alive
Juice
Sunny Delight
Sanford Bernstein
Bill Pecoriello
Douglas Daft
Swallow
New York Stock Exchange
OPEC keeps oil levels as Iraq signals resumption
OPEC delegates in Vienna approve maintaining current oil output around 24.2 million barrels daily as Iraq signals readiness to resume exports within a week if sanctions are extended without conditions. Officials warn of softer prices and expect stabilization later in July and August amid UN Security Council moves.
MENTIONED IN THIS ARTICLE
Organization of the Petroleum Exporting Countries
OPEC
Vienna
Austria
Iraq
Organization of Petroleum Exporting Countries
UN Security Council
United Nations
Britain
Iaq
U.N
Security Council
Libya
Abdul Karim
Ali Naimi
Naimi
Saudi Arabia
U.S
Europe
Traq
Market murkiness ahead of July Fourth holiday
Wall Street stalled on light activity and mixed earnings warnings before the Fourth of July break. The Dow slid 22.61 to 10,571.13, the Nasdaq edged down 7.92 to 2,140.80, and the S&P 500 fell 2.27 to 1,234.45 as DuPont, Axsys Technologies, and BroadVision warned on profits. Volume totaled 621.19 million shares in quiet trading, with GE and Honeywell affected by European regulators' actions.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Jerry Jasinowski
National Association of Manufacturers
Wall Street
New York
Edt
Standard & Poor
James Meyer
Jamey Montgomery Scott
DuPont
Axsys Tech
Nologies
BroadVision
Robert Harrington
Cohead
UBS Warburg
General Electric
Honeywell International
Honeywell
Michael Bonsignore
New York Stock Exchange
Also Mentioned on This Page
Redwood City
Calif
BroadVision Corp
Thomson Financial
First Call
Apple
Cupertino
Apple Computer Inc
AMF Bowling
Richmond, Va
AMF Bowling Worldwide
AMF
Mechanicsville
EU Blocks
Honeywell Purchase
Ali Ibrahim Naimi
Petroleum and Mineral Resources
Uncle Sam
U.S. Marine Corps
Rose-Ann Sgrignoli
NYSE
Richard Grasso
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