Business News Archive - July 27, 2008

By The Associated Press NEW YORK (AP) - Whether any bubble has burst, Americans now live in an economy where the prospect of a gallon of gas for less than $4 is cause for relief.That barrier might be broken as early as this weekend, as a two-week nosedive in crude prices begins to ripple out to gas stations nationwide.The national average for a gallon of regular pulled back to just above $4 per gallon and oil tumbled to its lowest point in weeks Friday on the belief that prices have yet to reflect just how badly demand has deteriorated in the United States, the world's thirstiest oil consumer.Prices at the pump are poised to dip even further, and could cost as much as 25 cents less by Labor Day, AAA spokesman Geoff Sundstrom said."People say typically prices shoot up like a rocket, fall like a feather.

NEW YORK (AP) - Wall Street ended a volatile week with uneven gains Friday after better-than-expected economic data placated a market pummeled a day earlier by concerns about housing and the financial sector.Financials drifted lower on continued worries about the health of balance sheets, while a surge in profits at Juniper Networks Inc.

By The Associated Press WASHINGTON (AP) - Federal regulators formally approved the merger of the nation's only two satellite radio operators Friday, ending a 16-month-long drama closely watched by Washington and Wall Street.Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc.

By The Associated Press MADISON, Wis. (AP) - Wisconsin's regional airports are losing service as airlines struggle with high fuel prices and financial losses.New schedules show flights leaving Dane County Regional Airport will have 15 percent fewer available seats this fall.

By The Associated Press MANILA, Philippines (AP) - The 346 passengers were cruising at 29,000 feet Friday when an explosive bang shook the Qantas jumbo jet. The plane descended rapidly.

By Chris Walsh Struggling Frontier Airlines has cemented a deal to receive $75 million in loans and potentially sell a majority stake of its business, a significant financial lifeline that greatly increases the company's chances of emerging from Chapter 11.

By Julian Knight PERSONAL FINANCE EDITOR Against a backdrop of the credit crunch and tumbling house prices, a harsh light is being shone on goings-on in the world of mortgage advice.

E nterprising Trevaskis Farm has come up with a solution for people looking for good, fresh local produce at reasonable prices without creating lots of food miles. The Market is a new, 21st century version of a farm shop and its creator, Giles Eustice, hopes it will take on the big guns.

Naked eco-campaigners climbed on to machinery at the site of a planned mine near a Derbyshire village.

By Julian Knight RETIREMENT FUNDING Sipps have thrived by letting customers make their own investment choices. Are you bold enough to buy one? asks Julian Knight Some people might think of pensions as boring. Others might view them as inflexible or expensive.

Word of the Day
  • The horn of a unicorn considered as a medical or pharmacological ingredient.
  • A winged horse with a single horn on its head; a winged unicorn.
The word 'alicorn' comes from Italian alicorno, already associated with unicorns and reinterpreted, popularized by Bearing an Hourglass (1984) and other fantasy novels by Piers Anthony.