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AP Business NewsBrief at 4:24 a.m. EDT(AP Online Via Acquire Media NewsEdge) Yahoo 1Q profit rises, but Microsoft bid likely to stand patSAN FRANCISCO (AP) _ Yahoo Inc.'s first-quarter performance was a little like Goldilocks' favorite soup _ not too hot and not too cold, and that has set the table for a bitter battle over Microsoft Corp.'s bid to take over the Internet pioneer. By delivering earnings and revenue Tuesday that surpassed analysts' estimates, Yahoo added credence to its board's contention that the Sunnyvale-based company is poised for a dramatic turnaround that justifies a higher sales price than Microsoft's initial bid of $44.6 billion, or $31 per share. Stocks decline as oil rises, Street examines earningsNEW YORK (AP) _ Wall Street pulled back Tuesday, with the Dow Jones industrials tumbling more than 100 points as a rush of quarterly results from bellwethers like AT&T Inc., DuPont and McDonald's Corp. failed to impress investors. Oil prices also reached fresh highs, raising concerns about inflation. AT&T's earnings met Wall Street's forecast while McDonald's and DuPont reported stronger-than-expected numbers. But DuPont said a U.S. slowdown will offset growth abroad and McDonald's said an important metric of its sales showed a decline for March. All three companies are among the 30 stocks that make up the Dow. Craigslist fires back, blasts eBay actions as unethicalSAN JOSE, Calif. (AP) _ Craigslist is firing back at its rival and minority owner eBay, scolding the online auctioneer's actions as unethical and smelling of a hostile takeover. In a move that pits two of the Internet's most popular sites against each other, EBay Inc. sued the online classifieds company Tuesday, alleging it unfairly tried to dilute eBay's stake in it. Gas prices rise further above $3.50, while oil nears $120NEW YORK (AP) _ Gas and oil prices pushed further into record high territory Tuesday, with retail gas reaching a national average of $3.51 for the first time and crude nearing $120 as the dollar fell to a new low against the euro. At the pump, the national average price of a gallon of regular gas rose 0.8 cent Tuesday to $3.511, according to a survey of stations by AAA and the Oil Price Information Service. Prices for diesel _ used to transport most food, industrial and commercial goods _ also rose overnight to a new record of $4.204 a gallon. Malaysia scraps Singapore bullet trainKUALA LUMPUR, Malaysia (AP) _ Malaysia has scrapped plans for a multi-billion-dollar high-speed bullet train connecting Kuala Lumpur and Singapore because of high costs, a government official said Wednesday. An Economic Planning Unit spokeswoman confirmed a report in The Star that the government is no longer considering the project. She declined to be named, citing protocol. United Airlines shares plummet on 1Q loss, planned cutsCHICAGO (AP) _ United Airlines parent UAL Corp. lost about a third of its market value Tuesday after reporting a $537 million first-quarter loss due to soaring fuel costs and saying it is cutting flights and 1,100 jobs. The sell-off accelerated and shares of other airlines dropped after Delta Air Lines Inc. CEO Richard Anderson said in Washington that in the face of record fuel prices domestic carriers would need to raise fares by 15 percent to 20 percent just to break even. At the same time, crude oil prices jumped by more than $2 and neared the once-unimaginable $120-a-barrel mark. Whirlpool suspends 39 workers, says they lied about smokingINDIANAPOLIS (AP) _ Smoking can be hazardous to your health, and it's turning into a bad career move, too. A Whirlpool Corp. factory in Evansville, Ind., has suspended 39 workers who signed insurance paperwork claiming they don't use tobacco and then were seen smoking or chewing tobacco on company property. Now, some could be fired for lying, company spokeswoman Debby Castrale said. Government to release proposed fuel economy rulesWASHINGTON (AP) _ The next generation of new cars and trucks will need to meet a fleet average of 31.6 miles per gallon by 2015, the Bush administration proposed Tuesday, seeking more fuel-efficient vehicles in the face of high gasoline prices and concerns over global warming. Transportation Secretary Mary Peters outlined the plan on Earth Day, setting a schedule that was more aggressive than initially expected by the auto industry. It responds to a new energy law that requires new cars and trucks, taken as a collective average, to meet 35 mpg by 2020. Existing home sales fall in MarchWASHINGTON (AP) _ Sales of existing homes fell in March, the seventh drop in the past eight months, as the spring sales season got off to a rocky start. The median price of a home was down compared with a year ago, and some economists predicted home prices could keep falling for many more months given all the troubles weighing on housing, from a severe credit crunch to a rising tide of foreclosures. It's no LOL: Few US doctors answer e-mails from patientsLOS ANGELES (AP) _ Suzanne Kreuziger is a registered nurse who uses e-mail almost exclusively to communicate with friends. But when it comes to reaching her doctor, there's a frustrating firewall. The barrier is her doctor's own reluctance to talk to patients through e-mail. Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |