Cablevision Systems Corp. is close to buying the Long Island newspaper Newsday from Tribune Co. for $650 million, a person with knowledge of the situation said Sunday.
U.S. stocks headed for a moderately higher open Monday as oil prices ticked lower and the dollar advanced.
China's inflation rebounded in April to near decade-high levels, according to data released Monday, increasing pressure on Beijing to cool rapidly ascending prices and avert possible unrest ahead of the Summer Olympics.
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking sector in years.
IndyMac Bancorp says it swung to a first-quarter loss as deteriorating credit markets forced write-downs on the value of mortgage-backed securities.
HSBC Holdings PLC said Monday that first-quarter profit was better than a year ago, despite a $3.2 billion write-down on subprime mortgage assets in the United States.
Japanese electronics maker Fujitsu on Monday reported nearly a 40 percent plunge in profit for the January-March quarter, largely on costs to restructure its computer chips operations.
A blood thinner manufactured in China and linked to dozens of deaths in the United States is now safe because of tighter testing and controls, a top American health official said Monday, while warning that all U.S. imports would face closer scrutiny in the future.
MBIA is posting a large first-quarter loss, as the struggling bond insurer took heavy charges to write down the value of certain liabilities amid continued deterioration in the credit markets.
The top business news from The Associated Press for the morning of Monday, May 12, 2008:
