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Cablevision and Tribune seal Newsday deal (Reuters) -- Mon, 12 May 2008 13:31:51 GMT

Reuters - Cablevision Systems Corp sealed a $650 million deal to buy 97 percent of Newsday Media Group from Tribune Co, the companies said on Monday, after Rupert Murdoch's News Corp (NWSa.N) withdrew its bid.

Sprint's loss widens, sees slow improvement (Reuters) -- Mon, 12 May 2008 15:59:34 GMT

Reuters - Sprint Nextel Corp , the No. 3 U.S. wireless service provider, said on Monday it may seek changes to its credit agreements, raising questions about how long it will take to turn around the business.

Stocks advance with financial companies (Reuters) -- Mon, 12 May 2008 15:17:33 GMT

Reuters - Stocks advanced on Monday as financial shares added to gains after bond insurer MBIA said quarterly revenue dropped less than it reported initially.

Clear Channel trial delayed till Tuesday (Reuters) -- Mon, 12 May 2008 14:46:32 GMT

Reuters - The scheduled start on Monday of a trial over financing for the $20 billion buyout of Clear Channel Communications has been delayed until Tuesday.

CORRECTED: MBIA posts huge loss on credit derivatives (Reuters) -- Mon, 12 May 2008 16:09:29 GMT

Reuters - MBIA Inc , the world's largest bond insurer, posted a quarterly loss of $2.4 billion on Monday as it took charges on billions of dollars of exposure to bonds linked to subprime mortgages.

China's inflation rises to almost 12-year high (AP) -- Mon, 12 May 2008 15:59:34 GMT

AP - China's inflation almost climbed to a 12-year high in April, swamping official efforts to cool surging living costs that could provoke unrest ahead of the Beijing Olympics.

HSBC says Q1 profit up, bad debts jump (Reuters) -- Mon, 12 May 2008 10:49:25 GMT

Reuters - Europe's biggest bank HSBC Holdings said its profit in the first quarter was ahead of a year ago as growth in Asia helped counter over $5 billion in hits from bad debts on U.S. home loans and asset writedowns.

AnnTaylor shares jump on raised forecast (Reuters) -- Mon, 12 May 2008 14:03:29 GMT

Reuters - AnnTaylor Stores Corp raised its first-quarter earnings forecast on Monday, citing lower inventories and improvement at its LOFT chain, sending shares of the women's clothing retailer up 11.5 percent.