Latest the Times Stories

Credit rating company Standard & Poor's held Britain's rating to triple A, but issued a threat to its standing, which shook London's stock markets Thursday. S&P said its assessment of Britain's credit was negative, as opposed to its previous assessment of stable, The Times of London reported. On official report said the British Treasury borrowed $13.29 billion in April, a record for the month. A year ago, the Treasury borrowed $2.8 billion to get through the month, the Times said....

German automaker Volkswagen said Monday it had discontinued merger talks with Porsche, a day after Porsche said the talks would continue. Volkswagen said Porsche is lacking several fundamental conditions for the discussions, The Times of London reported. Porsche, however, called reports that the talks were over irritations and stuck to its claim that only Monday's meeting had been canceled. VW said earlier this month that Porsche's plans to further tie the companies together was...

Police in England's Derbyshire county say three people were hurt when a stage collapsed during heavy winds at the Bearded Theory music festival. Derbyshire police said those hurt Saturday night received medical treatment for back and neck problems, along with a suspected broken wrist and shoulder, The Times of London Online reported Sunday. Sally Booth, a site manager at the festival in the village of Hulland Ward, credited emergency services for their response to the stage collapse, which...

The British Royal Mail said it turned a profit of $236 million in the past 12 months, almost double what it made the previous fiscal year. The year results included profits in all four of the service's core businesses, the first time that has happened since 1989, The Times of London reported Thursday. The news could complicate the government's plans to sell a portion of the company, as unions opposed to the sale now have a stronger argument the government should not sell. The Royal Mail,...

Amazon is preparing to unveil a new version of its Kindle e-book reading device that is specifically designed for newspaper and magazine content.The new Kindle features a larger display than its two predecessors, reflecting Amazon's efforts to cater to periodicals and even textbooks, according to the New York Times.The new device, which is set to be revealed at a press conference in New York on Wednesday, could be aimed at reviving the print media industry, which as of late has been...

U.S. investors were willing to ignore harsh economic realities this week, but found Chrysler's bankruptcy filing a tough pill to swallow. U.S. markets turned flat Thursday after Chrysler threw in the towel in New York bankruptcy court after a month of tough negotiations, with a handful of small creditors balking at an offer that would have given them about 33 cents on the dollar, The New York Times reported. Creditors are holding about $6.9 billion in secured debt. The U.S. Treasury's final...

U.S. investors may need a week or two to sort out the many moving pieces that were crowded into Friday's headlines. In Washington, the Treasury Department may disclose results of the stress tests it is conducting for the nation's 19 largest banks, The New York Times reported. Banks will have until May 4 to digest the news privately, giving them nine days to discuss the details in the comforts -- or discomforts as the case may be -- of their board rooms. After that, the results will be made...

The DC-Based Sign Company Takes Home Second Place on Annual Signs of the Times Sign Contest WASHINGTON, April 7 /PRNewswire-USNewswire/ -- Gelberg Signs, one of the mid-Atlantic region's premier sign companies, today announced its award in the 2009 International Signs of the Times Contest for the fabrication and installation of an electric sign for the Children's National Medical Center. The DC-based sign company, with a history dating back to 1941, began working with the Children's...

U.S. technical giant IBM has withdrawn a $7 billion offer to acquire rival Sun Microsystems, sources said. Citing three sources close to negotiations on a proposed acquisition, The New York Times reported Sunday that the breakdown raises questions about Sun's future, given that the IBM offer -- estimated at $9.50 a share -- is about a 100 percent premium on Sun's market value. The offer was lower than a previous IBM bid of $10 a share, the newspaper said Friday. Sun, based in Silicon Valley,...

U.S. technical giant IBM is close to an agreement to acquire rival Sun Microsystems for close to $7 billion, sources said. The estimated figure, $9.50 a share, is about a 100-percent premium on Sun's market value, The New York Times reported Friday. It is also a slight drop from a previous IBM bid of $10 a share, the newspaper said. Representatives from IBM and Sun declined to comment but sources told the Times a deal could be announced Friday. Among the stumbling blocks is valuation of...