Business News Archive - November 29, 2008

Members of the Organization of Petroleum Exporting Countries, meeting Saturday in Cairo, say the informal talks are unlikely to result in production cuts.

Construction on China's tallest building, the 2,000-foot-tall Shanghai Center, got underway Saturday, officials said.

Billionaire investor Carl Ichan has upped his ownership stake in U.S. Internet technology company Yahoo Inc., buying 6.8 million shares, documents show. U.S.

U.S. insurance broker Aon Corp. has completed its acquisition of a British firm and will lay off as many as 700 employees, company officials say. Aon, based in Chicago, finished its acquisition of London's Benfield Group Ltd.

Deutsche Bank Trust Co. Americas has sued developer Donald Trump, saying he failed to make good on a loan guarantee for his Chicago skyscraper, records show. The move comes after Trump sued Deutsche Bank in New York, claiming it and a consortium of lenders wrongfully refused to extend the Nov.

Sales of flat-screen, high-definition television sets have become the bellwether for U.S. consumer confidence this holiday season, analysts say.

Analysts say the terrorist siege near the financial district of Mumbai may scare off foreign investors in India, at least in the short run. India's economy had already slowed, due to a decline in the rupee and the global credit crisis, The New York Times reported Saturday.

The rapid fall of the Canadian dollar has restored business along the border to its normal condition with U.S. residents heading north for bargains. A year ago, the Canadian dollar -- sometimes called the loonie because of the bird's picture on the $1 coin -- was at par with the U.S. dollar.

Word of the Day
  • Monstrous in size or character; huge; prodigious; monstrously perverse, savage, cruel, etc.
The word 'immane' comes from the Latin word 'immanis', 'enormous'.