German flag carrier Lufthansa may take an equity stake in the potential merger of Chicago-based United and Houston-based Continental. European rival Air France announced that it plans to invest in the merger between its SkyTeam partners Delta and Northwest.
Those involved in the merger talks between Delta and Northwest airlines have reached an accord with regards to labor contracts. However, that agreement could be voted down because of disagreements about pilot seniority.
Liechtenstein is under intense scrutiny from Germany for what Berlin sees as opaque banking practices. The Organization for Economic Cooperation and Development called Liechtenstein an “uncooperative tax haven.”
Business Week examines whether Wal-Mart will be able to weather the bearish retail market with the help of its higher-margin apparel lines. Much of its current sales are for staple goods, which it prices at a lower margin.
American and European anti-trust oversight authorities approved Thomson Financial’s takeover of Reuters. The £8.7 billion—$17 billion—deal will result in the company subsuming some 34 percent of the world’s financial news market, compared to Bloomberg with 33 percent.
Credit Suisse announced a $2.85 billion write down on Tuesday. CEO Brady Dougan said that the losses are due to weakening markets, although he declined to elaborate on how much of the $2.8 billion was lost from traders’ “mismarking and pricing errors.”
With oil prices hovering around $100 a barrel, some American homeowners are turning to wood to heat their homes this winter. However, some energy experts are concerned about the added air pollution and lower heating efficiency.
In regards to Microsoft’s hostile takeover bid of Yahoo, Bill Gates said that his company can “afford to make big investments in the engineering and marketing that needs to get done." Gates rebuffed claims that his company is in secret talks with Yahoo to retool a deal.
Barack Obama emerged as the front-runner for the Democratic presidential nomination after beating Hillary Clinton in Wisconsin and Hawaii last night. John McCain solidified his standing in the GOP race after wins in Wisconsin and Washington State.
Amtrak is planning to institute new security measures including random bag-checks and armed guards on trains. The “mobile security teams” will first be used on the Washington Corridor between Boston and Washington.
Pakistani President Pervez Musharraf announced that he plans to stay in the country’s highest office despite the fact that his party, the Pakistan Muslim League-Q, took third in Monday's parliamentary elections.
A coalition of Peruvian farmers has blocked some of the nation's major roadways, including the Pan-American Highway, in protest of Peru’s recent free trade agreement with the United States. At least one person has died during the protests.
According to The New York Times, despite resigning on Tuesday, Cuban President Fidel Castro may remain in the government’s decision-making circle. His brother Raul “has largely operated in his brother’s shadow."
Tonight, Earth will see the last total lunar eclipse until December 2010. Weather permitting, the eclipse will be visible from all locations except South and East Asia, Australia, New Zealand, Oceania and parts of the Middle East.