Union Pacific cuts outlook on fuel costs
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Union Pacific Corp , the No. 1 U.S. railroad, lowered its fourth-quarter earnings outlook by roughly 20 cents per share on Wednesday due to rapidly rising fuel costs, sending its shares down as much as 6 percent.
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Some big airlines are planning to reduce domestic capacity in 2008 with the hope of driving fares higher to offset rising fuel costs.
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Wendy&#39;s International Inc. said Tuesday it cut its 2004 earnings forecast, citing recent hurricanes, an increase in legal reserves, higher-than-expected beef costs and short-term challenges at its Baja Fresh Mexican Grill chain.
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US Airways Group Inc. said yesterday that sharply rising fuel costs in recent weeks have made the bankrupt airline's already dismal financial outlook even more acute.
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A sharp plunge in energy prices pulled U.S. producer prices down 0.7 percent last month, a sharper-than-expected drop and the biggest in more than 1-1/2 years, a government report showed on Friday.
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US economists have trimmed their forecasts for hiring and economic growth in view of steep energy prices and other factors, a Wall Street Journal survey showed.
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Embattled Russian oil giant Yukos cut its 2004 oil production target from 90 million tonnes to 86 million tonnes, saying its inability to access frozen accounts had forced the firm to reduce operating costs.
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The package courier reported that its second-quarter profit fell 6 percent from a year ago, largely due to high fuel costs and a sluggish U.S. economy.
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Japanese electronics maker Hitachi slashed its full-year profit forecast because of ballooning costs to repair nuclear reactors and slumping sales of some products, saying Friday it now expects to lose 55 billion yen this year, or about $467.3 million.
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SAN FRANCISCO (CBS.MW) - Higher fuel prices will help cause the domestic and international airline industry to lose $3 billion to $4 billion in 2004, the International Air Transport Association forecast Monday.
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SAN FRANCISCO (CBS.MW) - UAL Corp., the bankrupt parent of United Airlines, is seeking to slash another $2 billion in operating costs as it struggles to overcome record-high fuel costs and the lowest airfares in over a decade.
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Crude futures fell in the United States Tuesday as concerns about reduced output in the North Sea were offset by expectations that an upcoming government report would show rising inventories of heating oil.
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A sharp plunge in energy prices  pulled U.S. producer prices down 0.7 percent last month, a  sharper-than-expected drop and the biggest in more than 1-1/2  years, a government report showed on Friday.
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Restaurant operator Wendy's  International Inc. WEN.N on Tuesday cut its 2004 earnings  forecast, citing hurricanes, higher legal reserves, costlier  beef and challenges at its Baja Fresh Mexican Grill chain.
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Oil edged down on Friday after a  gasoline-led rally, but supply risks from the closure of a  shipping channel in the United States to a strike by oil  service workers in Norway provided support.
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LONDON: A leading business group cut its 2005 forecast for British economic growth yesterday, blaming a combination of high oil and commodity prices, slowing global growth and domestic interest rate rises.
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Oil cut some of its losses to trade around $89 a barrel on Tuesday after the U.S. Federal Reserve took emergency action to help prevent the world's biggest fuel consumer from tipping into recession.