U.S. stocks tumble as central bank, oil fuel inflation worries

Date: Wed, 21 May 2008 17:04:54 -0400
U.S. stocks tumble as central bank, oil fuel inflation worries

U.S. stocks close sharply lower after the release of the minutes of the
Federal Reserve's last meeting show central bankers hesitant to cut
interest rates further because of mounting inflation concerns.

Futures Movers: Oil closes above $133 on unexpected drop in U.S. crude
supply

Crude-oil futures climb past $132 a barrel to break another record level
after government data show that crude supplies unexpectedly dropped,
marking their first decline in five weeks.

American Airlines to cut capacity further, add new bag fee

American Airlines intends to slash its domestic capacity in the fourth
quarter, grounding aircraft and cutting back its workforce, because of
record fuel prices, economic concerns and competition, the carrier's
parent company AMR Corp. says.

Borders jumps on report of possible bid from Barnes & Noble

Shares of bookstore operator Borders Group Inc. jump on a report that
its larger rival Barnes & Noble Inc. is studying a possible bid.

Media Report: NBC Universal exec says advertisers will demand more of
VOD

Cable-based on-demand viewing of television shows has significant
potential for a variety of reasons but won't work as a business model if
consumers are able to fast-forward past commercials, according to a
senior NBC Universal executive.