Saturday, May 22, 2004

Business digest

Google founders each own 16% of stock

SAN FRANCISCO - Google Inc. co-founders Larry Page and Sergey Brin each own nearly 16 percent of the Internet search engine leader that they launched nearly six years ago - stakes expected be worth at least $3 billion apiece after the company's initial public offering of stock.

Page owns 15.7 percent of Google's outstanding shares and Brin holds a 15.6 percent stake, according to Securities and Exchange Commission documents filed Friday.

Personal bankruptcy rises 2.8% in year

WASHINGTON - Personal bankruptcies rose 2.8 percent in the 12 months ending March 31, continuing the upward trend of recent years but marking a more moderate increase than in earlier months, data released Friday show. New personal bankruptcy filings rose to 1,618,062 from 1,573,720 in the 12 months ending March 31, 2003, according to the data from the Administrative Office of the U.S. Courts.

European Union, Russia compromise

MOSCOW - Ending months of uncertainty, Russia agreed Friday to speed up its ratification of the Kyoto Protocol on combating global warming after the European Union offered to support its longtime bid to join the World Trade Organization.

Russian President Vladimir Putin said the two issues were not linked, but he added that a compromise after years of tense talks helped assuage some of Russia's economic concerns, clearing the path for faster movement on Kyoto.

Fifth Third may go shopping
Airfare hike in holding pattern
Come May, one thinks of ... malls
P&G gets OK to sell popcorn with Olean
Federated unveils 8 percent boost to quarterly dividend
SBC, union resume talks
Big Tobacco ordered to pay $590M
Market blues high time to get green
Tristate summary
Business digest