Business News

Michael Kinsley, who founded Slate magazine nearly six years ago and watched it blossom into one of the top online publications, is stepping down as editor, saying he felt "a need for change" was in order.

Nimbus Group Inc. said Monday it received a $1.2 billion commitment to finance its purchase of 1,000 jets from aircraft maker Eclipse Aviation.

Weyerhaeuser Co.'s hostile takeover bid for timber rival Willamette Industries came to an official end Monday after nearly all of Willamette's shareholders agreed to Weyerhaeuser's $6.2 billion offer.

In its ongoing effort to aggressively build out its nationwide network, Verizon Wireless announced today that it would expand its operations in Georgia and Tennessee as a result of acquiring certain Dobson Communications Corporation wireless operations

FedEx Corp., the world's largest cargo airline, said Monday that earnings for the third quarter may beat expectations in part because of increased use of its cheaper ground delivery services in the weakened economy.

Eastman Chemical Co. is dropping plans to spin off its specialty chemicals and plastics business, the company said Monday. Its shares rose more than 2.5 percent in early trading.

CytRx Corporation today announced that its board of directors has approved and it has entered into an agreement to merge with Global Genomics Capital, Inc., a privately held genomics company in Los Angeles, CA.

Wholesale prices rose in January for a second consecutive month despite the continuing slump in Britain's manufacturing sector, according to government figures released Monday.

Russian President Vladimir Putin warned OPEC that while Moscow is willing to cooperate with the cartel, Russia intends to be guided by its own interests.

As the field of digital photography boost performance and lowers its costs, one company hopes to shake up the industry by introducing a new chip that could double the quality of the images without doubling the price.