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Disney CEO Eisner to Step Down in 2006
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Michael Eisner plans to step down as Walt Disney Co. chief executive when his contract expires in September 2006, the head of the entertainment conglomerate said in a letter to the board released on Friday.
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Treasuries Rally on Drop in August PPI
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U.S. Treasuries rallied on Friday after a surprise drop in U.S. producer prices in August fueled the view that the Federal Reserve might pause on its rate-hike path after an expected rate boost later this month.
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Stocks Open Lower, Alcoa Weighs
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U.S. stocks opened lower on Friday, weighed down by profit warnings from companies such as Alcoa Inc. , the world's No. 1 aluminum maker, which raised concerns about U.S. corporate earnings strength.
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Dollar Falls as Trade, PPI Data Weigh
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The dollar dropped against most major currencies on Friday, as analysts raised concerns about the U.S. trade deficit number for July, which came in narrower than expected, but was still fairly sizable.
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Oil Climbs on Pre-Winter Fuel Worries
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World oil prices rose on Friday, building on gains of almost $2 in the previous session when the U.S. government said crude stocks sank for the sixth straight week last week and distillate fuels barely grew ahead of winter.
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Delta Fails to Get OK from Bond Holders
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Delta Air Lines Inc. on Friday said it hit another bump in its effort to avoid bankruptcy as bond holders refused to give it permission to buy back certain debt it needs restructured, sending its shares down about 3 percent.
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Goodyear Takes Charges, Slashes Jobs
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Goodyear Tire & Rubber Co. said on Friday it plans to take third-quarter charges for cost-cutting efforts in its engineered products and chemical divisions.
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Nokia: Caution Replaces Euphoria
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Analysts differed over whether improved third-quarter guidance from top mobile phone maker Nokia was the start of a turnaround or a brief reprieve in a grim year and the share's rally cooled on Friday.
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Tribune Revises Circulation Figures
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Tribune Co. , the publisher of Newsday and Hoy which has been embroiled in a circulation scandal, said on Friday it would make more revisions to circulation figures for the newspapers and plans to take a related third-quarter charge.
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