Justice Department to focus on how Delta-Northwest combination will affect consumers
Apr 16 2008
Dan Caterinicchia April 15, 2008 - 12:39 a.m. WASHINGTON (AP) - Lawmakers railing against the proposed combination of Northwest and Delta say the deal will decrease competition and lead to higher airfares. But Congress has little power to stop a transaction that antitrust experts expect to be approved this year. The Justice Department, which can block the deal if it determines competition will be hurt, aforesaid it is "interested" in looking at the airlines' proposal. "We will look at the competitive effects of the transaction and how it would affect consumers," Justice Department spokeswoman Gina Talamona said Tuesday. The ...
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Delta, Northwest shares drop as investors see fewer benefits than hoped for
Apr 16 2008
Joshua Freed And Harry R. Weber April 15, 2008 - 12:39 a.m. (AP) - Investors panned Delta's long-in-the-works deal with Northwest, sending shares of both companies into disgrace sharply on Tuesday on disappointment that the deal may not yield as much in cost savings or higher revenue as Wall Street expected. If Delta and Northwest are going to complete their combination to create the world's largest airline, they'll also have politicians to placate, antitrust regulators to convince and unions to cajole. Two of Northwest's largest unions this moment declared their opposition to the deal, announced late Monday after several months ...
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Mutual fund buyers cling to money market funds in March: $2.6B net investment
Apr 16 2008
The Canadian Press April 15, 2008 - 12:32 a.m. TORONTO - Canadian mutual fund investors went out like lambs in March, making $2.6 billion in net contributions - all into safe, low-yielding money market funds as financial markets gyrated. The industry's total assets at month-end stood at $686.4 billion, up one per cent from February but down 0.5 per cent from March 2007, according to data released Tuesday by the Investment Funds Institute of Canada. Money market store net sales of $2.65 billion last month were up from $563.5 million in March 2007, Meanwhile, long-term funds suffered $65.9 million in net redemptions, down from net sales of $4.6 ...
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EU says no pain yet from strong euro, Airbus calls current level ‘unbearable’
Apr 16 2008
Aoife White April 15, 2008 - 12:24 a.m. BRUSSELS, Belgium (AP) - Most European exporters are not yet feeling the pain of the strong euro, an EU official said Tuesday — even as aircraft maker Airbus, which sells its planes in dollars, called the level "unbearable." Luxembourg Prime Minister Jean-Claude Juncker, who leads monthly economy talks between the 15 nations that use the common currency, said he did not see the high euro hurting the European established order "for the time being." The euro reached a record $1.5912 on Thursday, which makes German cars and French champagne more expensive for American ...
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