Wall Street took a tumble today on renewed concerns about the financial sector and FedEx Corp’s warning that weakening demand and surging fuel costs would weigh on profits in the coming year.

Wall Street pulled back today after a drop in February’s durable goods orders injected more pessimism about the economy into the stock market.

US stocks came off early losses to finish higher today as investors seemed to absorb unpleasant signals about the economy with equanimity and draw comfort from the notion that the Federal Reserve did not appear overly concerned about inflation.

OFFICE equipment maker Xerox yesterday said its profit rose 79% in the fourth quarter on a mix of cost controls and growth in equipment financing and services.

Wall Street advanced sharply today, with solid preliminary results from IBM encouraging investors to go back into the stock market after last week’s rout.

Stocks finished mixed in another volatile session today after a spike in wholesale prices touched off inflation concerns and partially overshadowed a strong increase in retail sales last month.

Two multi-national firms have announced plans to lay off a total of 130 workers in Co Clare and Co Kildare.

Canadian media giant Thomson agreed today to buy rival Reuters for £8.7bn (€12.7bn) after securing backing from the body set up to protect Reuters’ editorial independence.

A&L Goodbody handled deals worth €9.3 billion in 2006. The company was also ranked the top law firm in Ireland for global mergers and acquisitions (M&A) activity, according to a Thomson Financial survey published yesterday.

TECHNOLOGY firms are supposed to prop up US earnings growth this year, helping the stock market move higher.

Microsoft's first-quarter results have exceeded expectations.

THE world’s largest computer-chip maker, Intel, last night said third-quarter profit fell 35% amid price cuts and market share losses.

MICROSOFT Corp, the world’s largest software maker, said fourth-quarter profit fell 24% after the company spent more on its Xbox video-game console.

US stocks advanced today in light trading as Wall Street recovered from the previous session’s selloff and awaited tomorrow’s expected interest rate hike from the Federal Reserve.

THE world’s biggest maker of data storage systems, EMC Corp, has said fourth-quarter profits fell 54% due to the costs of cutting 1,000 staff and of return company income from overseas.

A&L Goodbody have been ranked, for the third consecutive year, as the number one Irish law firm for global mergers and acquisitions (M&A) activity.

WHEN Google Inc commanded €71 ($85) per share in its August 2004 initial public offering, the prospect of the stock quadrupling in less than 15 months seemed inconceivable. It doesn't appear far-fetched now.

HEWLETT-PACKARD, the world’s largest printer maker and the No 2 seller of personal computers, said third-quarter profits fell 88% after expenses from bringing earnings back from overseas and firing workers.

APPLE Computers’ third-quarter profits rose fivefold as sales of iPod music players unexpectedly surged to a record and Macintosh computer shipments reached a five-year high.

Stocks tottered higher today as a slide in oil prices and upbeat earnings news eclipsed an unexpectedly steep drop in durable goods orders that raised questions about the strength of the economy.

GENERAL MOTORS, the world’s largest carmaker, yesterday said it lost $1.1 billion (€800m) in the first quarter, clobbered by rising healthcare costs, lukewarm response to some new models and special charges.

A sharp slide in oil prices was not enough to keep US stocks aloft today as March retail sales fell short of expectations and investors grew apprehensive about weak consumer spending.

BOSTON SCIENTIFIC, the world’s biggest heart stent maker, said fourth-quarter profit more than doubled as sales of its Taxus stent recovered from recalls last year.

THE Apple computer company, which employs 1,200 people in Cork, saw first-quarter profits soar after selling a record number of its iPod music players.

A&L Goodbody has been ranked as the top law firm for Irish merger and acquisition (M&A) activity.

American International Group, the world’s largest insurer, said third-quarter profit rose 7.5% on fewer investment losses.

INTEL’S chief executive Craig Barrett hailed a new $2 billion factory in Leixlip, Co Kildare, as one of the best of its kind anywhere in the world when he opened the plant in June.

Heinz, the world’s biggest ketchup maker, said first-quarter profit fell to $194.8 million (€160.4m).

Shares of Amazon.com Inc fell as much as 10%, their biggest decline in two years, after the world’s largest internet retailer reported second-quarter profit and sales were less than analysts’ estimates.

EMC CORP, the world's third-largest maker of data-storage computers, had a fourth-quarter profit of $220.1 million as acquisitions helped boost sales 25%.

THE largest US telephone-equipment maker, Lucent Technologies Inc, had first-quarter net income of $338 million as sales rose for the first time in more than three years on demand for wireless-network gear.

New York: The euro fell against the dollar for the first day in four on speculation the European Central Bank will signal its currency’s 22% surge in the past year threatens the region’s economic recovery.

BANK OF AMERICA has agreed to buy FleetBoston Financial Corp for $47 billion in stock, creating the second-biggest US bank and signalling a revival in corporate acquisitions.

IBM, the world’s biggest computer maker, said it won one of its biggest server-computer contracts this year by charging less than Hewlett-Packard Co.

SHARES of Hewlett-Packard Co, the world’s second-biggest computer maker, fell as much as 12% after the company said it missed analysts’ third-quarter sales and profit estimates and cut personal computer prices too much.

THE European Central Bank may reduce its benchmark interest rate for the third time in seven months this week as the economy stagnates and the euro’s advance slows inflation, economists said.

THE dollar declined to its lowest in five weeks against the euro yesterday after some US companies cut profit forecasts, prompting traders to speculate international investors will reduce their purchases of US assets.

EMC Corporation, the world’s number three maker of computer data-storage machines, had a first-quarter profit because of an increase in services revenue and demand for new products.

Share prices were higher in choppy trade as defensive buying in the pharmaceutical sector, gains among technology stocks and tobacco companies helped offset a weak retail sector after Sears issued a third-quarter profit warning, dealers said.

EXECUTIVES at Qwest Communications International made about $500 million selling company stock from 1999 to 2001, as the company was releasing results it now says were exaggerated and based on improper accounting, The New York Times said.

AOL Time Warner, the world's largest media company, has reported a net loss of $54.24 bn (€60.7bn) for its first quarter.

Cisco Systems has reported higher-than-expected profits and sales for its fiscal second quarter, suggesting the networking giant may be rebounding from the economic downturn.

Share prices closed sharply higher, with the DJIA ending above 10,000 points and the Nasdaq composite finishing above 2,000 for the first time in months, after the NAPM's non-manufacturing index for the services industry indicated that the sector expanded last month, countering the overall recessionary trend, dealers said.

Cisco Systems has posted a first-quarter net loss of $268m.