Crude futures close at a three-month low

Date: Mon, 04 Aug 2008 17:03:46 -0400
Crude futures close at a three-month low

Crude-oil futures close at their lowest level in three months, after
briefly dropping below $120 per barrel, as government data showing a
spike in U.S. inflation rekindles worries about the world's largest
economy and demand for oil.

Economic Report: CORRECT: High inflation trumps tax rebates, U.S. data
show

The windfall of cash from Washington in June got eaten up by the worst
inflation in nearly three years, Commerce Department data shows.

Motorola taps Qualcomm vet to head wireless-device unit

Motorola names a high-ranking executive from Qualcomm to run its ailing
wireless-handset business in a prelude to spinning off that unit,
possibly sometime next year.

ImClone says Bristol-Myers' bid undervalues company

ImClone Systems Inc. says Monday that a buyout offer from Bristol-Myers
Squibb Co. "substantially undervalues" the company but stopped short of
rejecting the offer outright.