Business and technology news. From SFGate.com: the Bay Area's home page, online home of the San Francisco Chronicle and much more.
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Wall Street sank further into a bear market Friday as investors dumped stocks in response to troubles at mortgage companies Fannie Mae and Freddie Mac and oil's continuing climb into record territory. The Dow Jones industrials fell more than 200 points and...
Read Stock fall sharply on Fannie, Freddie worries (Links)
Apple Inc.'s new iPhone went on sale Friday to eager buyers worldwide, but there were problems getting the phones to work. Kenny Pichardo, 24, was the first to buy an iPhone 3G at an AT&T store in the New York borough of Queens, but he said it took the store...
Read Software problems bug Apple's launch of new iPhone (Links)
A federal appeals court on Friday set back the White House's efforts to keep the names of its visitors secret. The three-member panel of judges threw out the government's appeal in the case in which a watchdog group is trying to find out how often prominent...
Read Court tosses White House appeal on visitor logs (Links)
Treasury Secretary Henry Paulson, seeking to calm nervous investors about the financial state of Fannie Mae and Freddie Mac, said Friday the government's primary policy focus currently is to leave the congressionally created mortgage giants intact. "Today our...
Read Paulson: Keep Fannie and Freddie in current form (Links)
Industrial and financial conglomerate General Electric Co. said Friday its profit fell 6 percent in the second quarter, and has agreed to sell its Japanese consumer finance business for $5.4 billion. Fairfield-based GE earned $5.07 billion, or 51 cents per...
Read GE profit falls, meets estimates, sells loan unit (Links)
European regulators are nearing a decision on whether to impose price caps on text messaging and mobile Internet use while traveling. Any caps would be similar to one the EU imposed last summer on crossborder voice calls and would cover usage while roaming...
Read EU to rule on roaming price caps for mobile data (Links)
Kentucky-based chemical company Ashland Inc. said Friday it will acquire Hercules Inc. in a $2.6 billion cash-and-stock deal. Under the agreement, Ashland would acquire all the outstanding shares of Hercules at a price that would represent a 38 percent...
Read Ashland Inc. to acquire Hercules Inc. (Links)
After weeks of public bickering, Anheuser-Busch Cos. Inc.'s board is likely to accept a sweetened buyout offer from the Belgian-based brewer InBev SA as early as this weekend, a published report said. The New York Times and The Wall Street Journal both cite...
Read Reports: InBev, Anheuser-Busch talking (Links)
News Corp. Chairman Rupert Murdoch said his media conglomerate is "very unlikely" to be a part of any deal for Yahoo Inc., scuttling talk that Microsoft Corp. was making headway in enlisting the media mogul as part of a deal to break up the Internet search...
Read Murdoch's News Corp. unlikely to be in Yahoo deal (Links)
International donors on Friday pledged more than half of the euro1.5 billion ($2.36 billion) in aid requested by Kosovo to build up its infrastructure and democratic institutions. The European Union's executive commission pledged euro500 million ($785 million)...
Read EU and US pledge more than euro750 million for Kosovo (Links)
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