Yahoo says it will invest at least $100-million in a data center in Nebraska, creating at least 100 jobs. The announcement from the Internet company and Nebraska officials comes just days after Yahoo said it would cut 1,500 workers. If the company goes ahead with the project, within four years it would have to invest at least $100-million and create at least 100 jobs with a minimum average salary of $68,700.
Passenger and cargo traffic on the world's airlines suffered a 2.9 percent decline in September, the International Air Transport Association said. "The deterioration in traffic is alarmingly fast-paced and widespread," said Giovanni Bisignani, IATA's director general. IATA said all major regions except Latin America reported a decline in passenger traffic.
PNC Financial Services Group said it is acquiring National City Corp. for $5.58-billion, the first bank to use fresh investments from a federal bailout program to make an acquisition. The deal comes within hours of PNC Financial receiving approval for $7.7-billion in cash from the government under the $750-billion government program aimed at relieving the credit crisis. The acquisition makes PNC the nation's fifth-largest bank by deposits and will give it the fourth-most branches.
The government is warning parents about Carter's Inc. baby garments with tagless labels after about 400 babies who wore the clothing developed rashes on their backs. The warning applies to the fall 2007 line, which includes about 110-million garments. The garments cited include knit items such as body suits, shirts and pajamas.
"We cannot control the economy, but we can control our performance."
CHRIS LIDDELL, Microsoft's chief financial officer, after the software giant reported a slight rise in quarterly profit and sales but cut projections in the face of economic uncertainty
$14.7M AMOUNT the Canyon Ranch luxury resort is western Massachusetts has agreed to pay to workers who a court ruled were wrongly deprived of tips
THE BOTTOM LINE: Continental to reduce max size for carry-ons to 45 linear inches - sum of the length, width and height - down from 51 inches ... Standard & Poor's Ratings Services lowers New York Times Co.'s credit rating to junk bond status ... Newspaper publisher Gannett posts 33% drop in 3Q profit