WSJ’s Bryan Gruley discusses his decision to part with his deceased mother’s beat-up 1994 Pontiac Bonneville, which he has held on to as a reminder of her. (May 10)
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Sotheby’s posted a first-quarter loss on a shortfall in auction-commission revenue and higher operating costs.
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FedEx cut its quarterly-profit forecast again, citing unrelenting fuel-price increases and soft demand. The shipping company’s warning is the latest sign of continued weakness in the U.S. economy.
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Triarc swung to a first-quarter loss of $67.5 million as the owner of the Arby’s restaurant chain booked a loss on its investment in Deerfield Capital.
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Sotheby’s swung to a quarterly loss amid a shortfall in auction-commission revenue and higher operating costs.
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Takeda Pharmaceutical posted a 5.9% rise in full-year net profit, but said it expects earnings to slump in the current year following its recent $8.8 billion purchase of a U.S. biotechnology company.
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Allianz reported a 65% drop in net income, hurt by write-downs of $1.3 billion at Dresdner Bank, as Europe’s largest insurer cast doubt on its medium-term outlook.
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AIG reported a record $7.8 billion loss and said it will raise $12.5 billion in capital to replenish its balance sheet. The insurer’s results, which included a $9.1 billion write-down, show that while the credit crunch may be easing on Wall Street, it appears to be tightening elsewhere.
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