Time Warner is dumping AOL after spending nearly a decade trying to build a new-age media empire only to wind up in a weaker position than when the marriage began. The divorce, announced yesterday, will spin out AOL as a…

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Time Warner divorces AOL 1after 10-year run

The 16 countries that use the euro saw zero inflation in the year to May, official figures showed Friday, stoking expectations prices may fall for several months _ and increasing concern about whether policymakers are doing enough to ward off a debilitating…

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Euro zone inflation zero in year to May

As Wall Street searches for a bottom in the housing market, the number of New Jersey homeowners facing foreclosure is quickly increasing, according to a report released yesterday. Banks started foreclosure proceedings on 29 percent more New Jersey homeowners in…

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More N.J. homeowners facing forclosures

LONDON (Reuters) – The dollar hit five-month lows against a basket of currencies on Friday and the yen also dropped as investors sought higher-yielding and riskier assets, believing the worst of the global recession may have passed.

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Dollar hits 5-month low as higher-yielding assets sought

The dollar fell steeply to multimonth lows Friday as strong economic reports from Japan and India sparked hope in a global economic recovery. Equities in Europe and Asia turned higher, with heavy buying in emerging markets. The dollar has tended to trade…

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Dollar sinks to multimonth lows on Asian data

Yellow pages publisher R.H. Donnelley Corp., which has been struggling to service its debt as the recession slashes its revenue, said Friday it voluntarily filed to reorganize under Chapter 11 bankruptcy law. As of Dec. 31, 2008, the Cary, N.C., company had $…

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R.H. Donnelley to reorganize under Chapter 11

NEW YORK (Reuters) – Tiffany & Co posted a lower-than-expected quarterly profit on Friday as shoppers avoided jewelry, but the upscale retailer kept its full-year forecast, citing a smaller sales decline so far in May.

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Tiffany profit just misses view; keeps outlook

Sen. Richard Shelby said Friday the government should have allowed the marketplace to decide General Motors’ fate and that the huge federal stake in the company puts Washington on “the road to socialism.” Shelby, ranking Republican on the Banking Committee,…

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Shelby assails large gov’t role in General Motors

Money comes up all the time these days, often in uncomfortable situations. One person wants to splurge, another is counting every penny. How do you handle it? I turned to Nancy Mitchell, who writes the Etiquette Advocate blog and offers…

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Bargain Babe: Hard times require some tact

VIENNA (Reuters) – OPEC Secretary-General Abdullah al-Badri said on Friday he saw oil prices at $70 to $75 a barrel by the end of the year, making him the latest official from the group to predict the current rally will persist.

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OPEC Sec Gen says oil price rally may persist

(Reuters) – Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes rose 0.3-0.5 percent on Friday, pointing to a higher start on Wall Street.

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Stocks futures point to higher Wall Street open

Jewelry retailer Tiffany says its first-quarter profit plunged 62 percent on a steeper-than-expected drop in sales as consumers continued to pull back on spending. Still, the earnings matched Wall Street’s expectations. The New York-based company says it…

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Tiffany’s 1st-quarter profit tumbles 62 percent

NEW YORK (Reuters) – Upscale jeweler Tiffany & Co posted a 62 percent drop in quarterly profit on Friday, as shoppers stayed away from jewelry in the recession.

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Tiffany quarterly profit down; keeps outlook

California Gov. Arnold Schwarzenegger has proposed closing up to 220 state parks to help cut the state’s $24.3 billion deficit, including popular attractions for millions of visitors each year, such as a park that is home to some of the tallest trees on…

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Schwarzenegger plan would close 220 Calif. parks

The government’s new road map for General Motors would briefly send it into bankruptcy, erase most of its debt and eventually have it emerge leaner and stronger — and almost three-quarters owned by the taxpayers. The outline came together yesterday…

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General Motors’ restructuring: Chapter 11, taxpayer stake