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Tiffany's reduces full-year outlook amid slowing demand; 1Q profit essentially flatFILE - In this Aug. 27, 2010 file photo, a man walks into a Tiffany store on Wall Street in New York. Tiffany & Co. cut its outlook for both sales and profit for the year, citing a slowdown in demand for its jewelry not only in the U.S. but in many other countries. (AP Photo/Mark Lennihan, File)

Topics News & Markets Tiffany's reduces full-year outlook amid slowing demand; 1Q profit essentially flat By Anne D'Innocenzio, The Associated Press | May 24, 2012 NEW YORK, N.Y. - Tiffany & Co., a bellwether of luxury spending, says its sales aren't rising as fast as last year in the U.S. or abroad, and the gift and jewelry chain cut its forecasts for sales and profit for the year. Tiffany delivered its lower outlook on Thursday as it reported...

Topics News & Markets Warren Buffett promises hands-off approach to newspapers, says Berkshire Hathaway may buy more By Josh Funk, The Associated Press | May 24, 2012 OMAHA, Neb. - Warren Buffett says his company is likely to buy more newspapers in the next few years, and Berkshire Hathaway will not try to influence the editorial policies of any of them. Buffett wrote a memo this week to the editors and publishers of all of Berkshire's daily...

Topics News & Markets Morgan Stanley to make price adjustments for Facebook IPO investors who overpaid By Barbara Ortutay, The Associated Press | May 24, 2012 NEW YORK, N.Y. - Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matter. The person said the firm is...

Topics News & Markets Hopping Mad: Broadcasters Fox, NBC, CBS sue Dish over ad-skipping DVR known as the Hopper By Ryan Nakashima, The Associated Press | May 24, 2012 LOS ANGELES, Calif. - Broadcasters Fox, NBC and CBS sued Dish Network Corp. on Thursday over a service that offers commercial-free TV. Dish, the nation's second-largest satellite TV provider, filed a suit of its own seeking a judicial all-clear for its "AutoHop" ad-skipping technology...

Topics News & Markets Oil sands company raises $11M, will start 1st US commercial production of tar sands in Utah By Paul Foy, The Associated Press | May 24, 2012 SALT LAKE CITY - A tiny Canadian company announced Thursday it had raised enough money to start producing oil from Utah's tar sands for a first-of-its kind project in the U.S. U.S. Oil Sands Inc. said it raised $11 million from a stock offering and will get started this summer on...

Topics News & Markets Report: Lehman bankruptcy estate inks deal to buy additional stake in Archstone By The Associated Press | May 24, 2012 NEW YORK, N.Y. - The Wall Street Journal is reporting that Lehman Brothers Holdings Inc.'s bankruptcy estate has reached a deal to acquire a bigger stake in apartment-building owner Archstone for $1.58 billion. The report on the newspaper's website Thursday cites unnamed persons...

European leaders fail to agree new steps to save Greece - but markets may force their handA blind demonstrator shouts slogans through a megaphone outside the interior ministry during a protest demanding welfare payments, in Athens, Thursday, May 24, 2012. People with disabilities have not received government welfare payments for two months. Greece has been caught in an acute financial crisis for two and a half years, and has only avoided bankruptcy through international rescue loans. (AP Photo/Petros Giannakouris)

Topics News & Markets European leaders fail to agree new steps to save Greece - but markets may force their hand By Daniel Woolls,Derek Gatopoulos, The Associated Press | May 24, 2012 ATHENS, Greece - European leaders insist they want to keep Greece in the eurozone, but are putting off any agreement on how they hope to accomplish that. Greece says it, too, wants to stay in the eurozone, but until after elections it's uncertain whether it can implement the austerity...

Topics News & Markets TD, BMO join RBC in lowering mortgage rate; 5-year fixed falls to 5.34% By The Canadian Press | May 24, 2012 TORONTO - Two more big banks on Thursday lowered their five-year fixed mortgage rates. TD (TSX:TD) and Bank of Montreal (TSX:BMO) dropped their five-year rates by a tenth of a percentage point to 5.34 per cent, matching a rate announced Wednesday by the Royal Bank (TSX:RY). TD and BMO...

Topics News & Markets QLT outlines growth plan to investors amid dissident plan to oust board By The Canadian Press | May 24, 2012 VANCOUVER - QLT Inc. (TSX:QLT) has released details of a plan to increase shareholder value including key drug developments and a share repurchase program as the biotechnology developer tries to fend off a push to install new directors. The company announced the plan late Thursday...

Topics News & Markets Premier McGuinty announces $1-billion eastward extension of Highway 407 By Maria Babbage, The Canadian Press | May 24, 2012 WOODBRIDGE, Ont. - Drivers in the Toronto area will have a new route reaching east of the city, but it's expected to be more than three years before the new toll road is built. Work will begin this fall on the long-promised extension of Highway 407 East, a 22-kilometre stretch from...