AVIATION: Virgin ticket sales OK'd
Virgin America Inc., a budget airline partly owned by British billionaire Richard Branson, said it received U.S. approval to begin ticket sales and plans to start flights next month.
Dates for the initial service, with 10 Airbus SAS planes, will be announced in the next few weeks, the carrier said in a statement on its Web site Wednesday.
Virgin America Inc., a budget airline partly owned by British billionaire Richard Branson, said it received U.S. approval to begin ticket sales and plans to start flights next month.
Dates for the initial service, with 10 Airbus SAS planes, will be announced in the next few weeks, the carrier said in a statement on its Web site Wednesday.
MEDIA: Talks frustrate Murdoch
News Corp. Chairman Rupert Murdoch appeared frustrated Wednesday with the state of talks with the publisher of the Wall Street Journal, Dow Jones & Co., saying it was unclear where the company's controlling shareholders stood.
Murdoch has offered $5 billion for the company but has been entangled for several weeks in negotiations with the Bancroft family.
"They keep changing their minds," Murdoch said during a conference of top media executives hosted by investment banker Herbert Allen.
MINING: Strike impact to be small
Work at the nation's largest platinum and palladium mine near Billings, Mont., slowed to a crawl Wednesday as about 900 union employees launched their second strike in three years over wages and benefits.
The strike's broader impacts were expected to be limited. Ample supplies of platinum and palladium still are available on the global market, said Victor Flores, a senior mining analyst with HSBC Securities, Inc.
Also, automakers that rely on platinum as a component in catalytic converters have sufficient stockpiles on hand to weather the Montana strike, Flores and auto company representatives said.
Stillwater Mining has contracts with Ford Motor Co., General Motors Corp. and Mitsubishi to supply the platinum used in catalytic converters to cut vehicle pollution.
RESTAURANTS: Yum! Brands profit up
Yum! Brands Inc., owner of the Pizza Hut and KFC restaurant chains, said second-quarter profit rose 12% on higher sales in China, its fastest-growing market.
Net income increased to $214 million from $192 million a year earlier, Louisville, Ky.-based Yum said Wednesday. Revenue climbed 9% to $2.37 billion.
RETAIL: Liz Claiborne to cut jobs
Liz Claiborne Inc. plans to cut 600 to 800 jobs and is considering whether to sell 16 brands in an effort to cut costs and focus on profitable fashion lines.
Under a restructuring plan announced Wednesday, the apparel designer and marketer expects to save $100 million in 2008 and an additional $90 million over the following two years.
The 600 to 800 jobs represent about 7% to 9% of the company's non-retail-based global workforce.
TELECOMMUNICATIONS: Lawmaker knocks iPhone
The Apple iPhone has enjoyed favorable reviews since its debut, but it drew some rare criticism on Capitol Hill on Wednesday.
The phones -- which cost between $500 and $600 -- are usable only on AT&T's wireless network and will remain that way until 2012.
Even though the phones become expensive paperweights if customers quit AT&T's wireless plan, the company still will charge a $175 early termination fee, said Rep. Edward Markey, D-Mass., chairman of a House subcommittee on telecommunications and the Internet
News Corp. Chairman Rupert Murdoch appeared frustrated Wednesday with the state of talks with the publisher of the Wall Street Journal, Dow Jones & Co., saying it was unclear where the company's controlling shareholders stood.
Murdoch has offered $5 billion for the company but has been entangled for several weeks in negotiations with the Bancroft family.
"They keep changing their minds," Murdoch said during a conference of top media executives hosted by investment banker Herbert Allen.
MINING: Strike impact to be small
Work at the nation's largest platinum and palladium mine near Billings, Mont., slowed to a crawl Wednesday as about 900 union employees launched their second strike in three years over wages and benefits.
The strike's broader impacts were expected to be limited. Ample supplies of platinum and palladium still are available on the global market, said Victor Flores, a senior mining analyst with HSBC Securities, Inc.
Also, automakers that rely on platinum as a component in catalytic converters have sufficient stockpiles on hand to weather the Montana strike, Flores and auto company representatives said.
Stillwater Mining has contracts with Ford Motor Co., General Motors Corp. and Mitsubishi to supply the platinum used in catalytic converters to cut vehicle pollution.
RESTAURANTS: Yum! Brands profit up
Yum! Brands Inc., owner of the Pizza Hut and KFC restaurant chains, said second-quarter profit rose 12% on higher sales in China, its fastest-growing market.
Net income increased to $214 million from $192 million a year earlier, Louisville, Ky.-based Yum said Wednesday. Revenue climbed 9% to $2.37 billion.
RETAIL: Liz Claiborne to cut jobs
Liz Claiborne Inc. plans to cut 600 to 800 jobs and is considering whether to sell 16 brands in an effort to cut costs and focus on profitable fashion lines.
Under a restructuring plan announced Wednesday, the apparel designer and marketer expects to save $100 million in 2008 and an additional $90 million over the following two years.
The 600 to 800 jobs represent about 7% to 9% of the company's non-retail-based global workforce.
TELECOMMUNICATIONS: Lawmaker knocks iPhone
The Apple iPhone has enjoyed favorable reviews since its debut, but it drew some rare criticism on Capitol Hill on Wednesday.
The phones -- which cost between $500 and $600 -- are usable only on AT&T's wireless network and will remain that way until 2012.
Even though the phones become expensive paperweights if customers quit AT&T's wireless plan, the company still will charge a $175 early termination fee, said Rep. Edward Markey, D-Mass., chairman of a House subcommittee on telecommunications and the Internet
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