Financial news on August 02, 2008

Business and Financial news
British Energy Rejects Offer From French Rival

Shareholders in nuclear plant operator British Energy rejected a takeover offer from √Člectricit√© de France, but both sides appear to leave the door open for further talks. Read more..

By JAMES KANTER - The New York Times

Could Bear Talk Be a Contrary Signal?

Americans have turned more negative on prospects for the stock market than at any time in the last 20 years, which may be good news for investors. Read more..

By FLOYD NORRIS - The New York Times

Expanding in Athletic Gear in a Tough Economy

Kevin A. Plank is the founder of the company Under Armour, one of the most recognizable athletic brands. Read more..

By ELIZABETH OLSON - The New York Times

For Extended Car Warranties, Resist the Showroom Pitch

New-car extended warranties are rarely great deals -- and if you must buy one, not purchasing it rolled up with the new car is often beneficial. Read more..

By ALINA TUGEND - The New York Times

Jobless Rate Climbs to 5.7% as 51,000 Jobs Are Lost in July

Payrolls contracted for the seventh consecutive month, but the loss was less than the 75,000 jobs that economists had expected. Read more..

By LOUIS UCHITELLE - The New York Times

Lufthansa and Its Union Settle a Five-Day Strike

Lufthansa agreed to pay increases for its ground staff, ending the strike that disrupted air traffic in Germany for five days. Read more..

By CARTER DOUGHERTY - The New York Times

New York to File Charges Against Citigroup Over Securities

The attorney general of New York, Andrew M. Cuomo, said Citigroup misled investors about the dangers of auction-rate securities and destroyed evidence that his office had requested. Read more..

By ERIC DASH - The New York Times

Separate Trial Won by Tax-Shelter Defendant

A defendant in the large tax-shelter case involving former executives of the KPMG accounting firm will be tried separately on charges of personal tax evasion. Read more..

By LYNNLEY BROWNING - The New York Times

The S.E.C. Is Investigating Fee Practices at Value Line

The S.E.C. is investigating whether the company, which publishes several well-known investment newsletters, has overcharged the mutual funds it advises. Read more..

By JONATHAN D. GLATER - The New York Times

U.S. Vehicle Sales Fall 13.2% Amid High Gas Prices and Tight Credit

The five largest automakers each reported sales declines on Friday, and the car industry is showing signs that the market is continuing to deteriorate. Read more..

By NICK BUNKLEY - The New York Times

See what else happened on August 02, 2008