Business News Archive - December 13, 2008

Delta Air Lines is offering voluntary buyouts to its U.S.

Two more U.S. banks have been closed by federal regulators, bringing the number of failed institutions this year to 25, officials said. The U.S. Federal Deposit Insurance Corp.

Job buyouts offered to Newsweek employees could shrink the U.S. publication's geographic footprint by up to 12 cities, The Wall Street Journal says.

U.S. President-elect Barack Obama is considering a far bigger economic stimulus plan than before as job losses mount and the economy deteriorates, sources say.

First Carrier to Serve New Airport Starting May 11, 2009 BRANSON, Mo., Dec.

The company that operates Detroit's two daily newspapers will likely soon cease home delivery on most days, sources say.

ARLINGTON, Va., Dec. 13 /PRNewswire-USNewswire/ -- The American Chemistry Council today applauded New York Governor David Paterson's decision to sign legislation (A.11725/S.8643-A) that expands consumers' access to recycle plastic bags and product wraps statewide.

NEW YORK, Dec. 13 /PRNewswire/ -- Today marks the official start of Cayman Airways', the national flag carrier of the Cayman Islands, non-stop service from the nation's Capitol to Grand Cayman.

A Kuwaiti oil expert says OPEC needs to cut production by another 1.5 million to 2 million barrels a day to pressure prices back to a profitable level. OPEC's decrease of 1.5 million barrels a day, which took effect Nov.

Executives at Kohl's and Forever 21 say they will work quickly to convert the 46 Mervyns stores they jointly bought for $6.25 million. Most of the stores are in California, where Mervyns for years had a strong retail presence before filing for Chapter 11 bankruptcy protection in July, the Los Angeles Times reported Saturday. Their winning bid will give Kohl's, based in Wisconsin, access to under-penetrated markets and enable Forever 21, based in California, to begin big-box expansions, the Times reported. We got exactly the stores that we wanted, said Christopher Lee, senior vice president at Forever 21, which plans to take over 15 former Mervyns sites.

Word of the Day
  • The act of burning, scorching, or heating to dryness; the state or being thus heated or dried.
  • In medicine, cauterization.
The word 'adustion' comes from the Latin 'adustio', 'burning'.