Business News

NEW YORK (Reuters) - The odds of a recession in the United States are "clearly rising" due to the slowing rate of economic growth, former Federal Reserve Chairman Alan Greenspan said in an interview with National Public Radio.

WASHINGTON - Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are "clearly rising" and he believes economic growth is "getting close to stall speed."

WASHINGTON - A record jump in gasoline prices pushed up wholesale inflation in November at the fastest pace in more than three decades, while retail sales showed unexpected strength.

WASHINGTON (Reuters) - Retail sales were solid in November as the holiday shopping season got underway, but a good portion of consumer dollars went to higher-priced gasoline, which also pushed wholesale inflation up by the largest amount in 34 years.

MINNEAPOLIS - Money transfer firm Euronet Worldwide Inc. announced an ambitious and aggressive bid for its larger rival MoneyGram on Thursday, including a threat of a proxy fight if MoneyGram continues to spurn it.

Stock markets have soared in India for the last few years. HDFC Bank has held on for the ride.

NEW YORK - Stocks finished another volatile session mixed on Thursday after a spike in wholesale prices touched off inflation concerns and partially overshadowed a strong increase in retail sales last month.

LONDON (AFP) - European stock markets closed sharply lower Thursday, taking their lead from heavy losses in Asia as investors turned sceptical about efforts by the major central banks to ease a dangerous global credit squeeze.

NEW YORK (Reuters) - The Dow Jones industrial average rose on Thursday after economic bellwether Honeywell International raised its profit forecast, offsetting doubts about whether a global plan to thaw credit markets could work.

European equity markets slid sharply on Thursday as investors shrugged off the combined action by central banks to improve liquidity in the global banking system.

SEATTLE - Warehouse retailer Costco Wholesale Corp. said Thursday its fiscal first-quarter profit rose 11 percent on increased sales and higher revenue from membership fees.

NEW YORK - Lehman Brothers Holdings Inc. reported its third straight quarter of losses on Thursday, due to further turmoil in global credit markets, but the company managed to offset most of its problems and easily beat Wall Street expectations.

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said on Thursday fourth-quarter earnings fell 12 percent, as the credit market crisis triggered write-downs, and the company said further write-downs were possible.

NEW YORK (Reuters) - Pepsi Bottling Group Inc forecast 2008 earnings on Thursday that fell short of most Wall Street estimates, due in part to its expectation raw material prices such as corn and aluminum will keep rising.

NEW YORK - H&R Block confirmed wider second-quarter losses Thursday and the tax preparer said it would record restructuring charges of $74.8 million on the failure of its mortgage arm.

GREENER VEHICLES: The Senate passed a trimmed-back energy bill Thursday that would bring higher-gas mileage cars and SUVs into showrooms in the coming decade and fill their tanks with ethanol.

TOKYO (AFP) - A Japanese court on Thursday convicted two former officials at Mitsubishi Motors of negligence resulting in death over truck defects that caused a fatal accident.

LONDON (AFP) - Anglo-Swedish pharmaceuticals giant AstraZeneca said Wednesday it would sue seven generic drug manufacturers in the United States to defend its patent of cholesterol treatment Crestor.

LONDON (Reuters) - AstraZeneca Plc said on Wednesday it had filed patent infringement actions in the United States against seven generic drugmakers, which have submitted plans to sell generic versions of its cholesterol pill Crestor.

NAIROBI (AFP) - French-US telecom group Alcatel-Lucent signed Tuesday an 82-million-dollar deal with a Kenyan-led consortium to build a fibre optic cable linking East Africa to the Gulf.

Finding an affordable house in a well-located, high-quality suburb is not easy, even in this climate of slumping real estate markets and omnipresent "For Sale" signs. The credit crunch is making it tougher than ever for buyers without trust funds or Wall Street paychecks to finance a dream pad in their favorite suburb.

Each year, high-definition TV makers seem to find new technologies to entice buyers into purchasing ever-larger screen sizes to help counter a steep slide in what these companies can charge for their sets. Samsung's LN-T5271F is a prime example of this determination to make sure the latest TVs not only look good on the outside but deliver the latest cutting-edge enhancements from their innards. Yet despite all these high-end features, prices keep tumbling even on the latest models like this, creating great bargains.

We believe Aflac (AFL: $62) is well-positioned to benefit from the changing demographics and increasing health-care needs in the U.S. and Japan. We think the company's expansive distribution channels, solid business mix, operational efficiencies, and financial strength should enable it to continue its earnings and profitability momentum. The stock carries Standard & Poor's highest investment recommendation of 5 STARS (strong buy).

NEW YORK - The final weeks of the year offer mutual fund investors a key opportunity to make changes in their holdings. It's worth taking the time because a few deft moves now could make way for big gifts: smaller tax bills and more well-rounded portfolios.

NEW YORK (Reuters) - Wall Street's rebound from its first full-fledged correction in more than four years could continue this week if investors believe a plan to keep millions of Americans from losing their homes can work.

NEW YORK - Germany's biggest airline, Deutsche Lufthansa AG, said Thursday it is paying $300 million for a 19 percent stake in JetBlue Airways Corp., whose stock has lost about half its value since an operational meltdown last Valentine's Day.

TRENTON, N.J. - The recall of a routine vaccine for babies due to contamination risks could trigger a shortage and likely will alarm parents, but officials said there is no known health threat.

CHICAGO (Reuters) - Deutsche Lufthansa AG , Germany's national flag-carrier, will buy a 19 percent stake in low-cost U.S. airline JetBlue Airways Corp in a deal worth about $300 million, the two airlines said on Thursday.

WASHINGTON - A record jump in gasoline prices pushed up wholesale inflation in November at the fastest pace in more than three decades, while retail sales showed unexpected strength.

NEW YORK (Reuters) - Top U.S. tax preparer H&R; Block Inc said on Thursday its borrowing capacity may not be sufficient to meet its financing requirements and it may have to issue additional debt or equity.