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Auto industry pulls down stocks

US stocks slid on Friday, as a 3% drop in General Motors Corp helped snap a four-day rally by the Dow average, while energy stocks fell as oil prices slid again.


MG Rover board calls in receivers

Cash-strapped car manufacturer MG Rover Group is going into financial administration after a proposed takeover deal with a Chinese firm fell through, the British government said.


Taiwan shares end down Monday

Taiwan shares ended slightly lower Monday as the latest increase in oil prices damped demand for stocks.The local bourse also tracked weaker regional stocks and Wall Street's decline Friday.


Tokyo stocks finish lower Monday

Tokyo stocks finished lower Monday as investors took profits from recent gains after Wall Street's losses Friday. The U.S. dollar was up against the Japanese yen and the euro.


Stocks sink as oil hits record

US stocks tumbled on Friday after oil prices hit a record level, a manufacturing report indicating increasing prices re-ignited inflation fears and American International Group Inc slid 8%.


US stocks lose steam before holidays

US blue chip stocks ended a hair lower on Thursday, retreating from earlier gains as oil prices resumed their climb and investors were unwilling to take large positions ahead of a long holiday weekend.


IAC nears deal to buy Ask Jeeves for US$2bil

IAC/InterActiveCorp, an Internet conglomerate run by media mogul Barry Diller, is near a deal to buy web-search service Ask Jeeves Inc, sources familiar with the matter said.


Dow inches up, Nasdaq dips

US blue-chip stocks ended a touch ahead on Friday but the Nasdaq closed at a 2005 low, capping a choppy session as the long-awaited rebalancing of the Standard Poor's index was combined with quarterly options expiration.


Oil prices, disappointing GM outlook pull US stocks lower

Wall Street stumbled Wednesday after crude oil prices shot up to another new high, passing $56 a barrel and raising the specter of higher inflation and interest rates. General Motors Corp.'s grim outlook for its first quarter took an added toll on the Dow Jones industrials, which fell more than 110 points.


Tokyo stocks finish lower Thursday

Tokyo stocks finished lower following Wall Street's weakness overnight, compounded by rising global oil prices. The U.S. dollar was slightly lower against the Japanese yen and the euro.