Business news for Wed, 26 Mar 2008. 1303 news.

US radio giant, Clear Channel, and the companies that want to buy it are suing the banks financing the deal.

The Bank of England signaled that it could soon make another cut in interest rates and -- moving to reassure U.K. banks -- said it was studying new ways to provide relief to strained credit markets.

But must still overturn FTC ruling Rambus won big in the courtroom today, with a jury deciding the company had properly obtained patents for technology later incorporated into fast memory chip standards. So it's not a cheating monopoly after all, as memory chip makers Hynix, Micron and Nanya had sought to establish in US District Court in San Jose, California.…

BABCOCK & Brown says 25 banks, including all of the big four Australian banks, have committed to take part in expanding its so-called evergreen corporate debt facility to $2.8 billion and approved rolling over the facility to 2011.

Why the Federal Reserve's 'loan' for the Bear Stearns deal looks like an investment—and faces serious scrutiny

Chandler police say the suspects posed as sub-contractors to gain access to the Fortune 500 company's warehouse. A juvenile connected to the crime came forward to cooperate.

SAN ANTONIO -- Clear Channel Communications Inc. and the private equity firms seeking to close a $19.5 billion purchase of the company on Wednesday sued the banks backing the deal.

The $19bn Clear Channel buy-out collapsed as the media company and private equity firms Bain Capital and Thomas H Lee filed suit against a group of banks led by Citigroup

A jury ruled Rambus wasn't guilty of fraud or antitrust violations in a patent dispute with other memory-chip makers.

(Reuters) — The U.S. Air Force and Northrop Grumman Corp. on Wednesday filed separate motions asking the Government Accountability Office to dismiss parts of Boeing Co.'s protest against a $35 billion aircraft contract to Northrop Grumman. Air Force spokeswoman Lt. Col. Jennifer Cassidy said ...

Reuters - Oracle Corp posted disappointing quarterly software sales on Wednesday and said its customers had become more cautious, quashing the idea that the software sector would be immune to the economic turmoil that has roiled the rest of the tech sector.

Citigroup agreed Wednesday to pay $1.66 billion to creditors of Enron who lost money when the energy trader collapsed in 2001.

WASHINGTON (Reuters) - Senior Democrats and at least one Republican on Wednesday demanded details on the role the Federal Reserve and the U.S. Treasury Department played in helping JPMorgan Chase & Co's buyout of Bear Stearns Cos Inc.

The flotation of Safaricom, a mobile telephone operator set to be the biggest listed company in east Africa, has been dragged into the increasingly bad-tempered talks over the formation of Kenya's coalition cabinet

Motorola's decision to split in two looks like a way of getting Mr Icahn off the board's back

Looks like the banks financing the Clear Channel (NYSE: CCU) sale definitely want to walk. Last night reports emerged that the deal was on the rocks, and now the two PE firms, Thomas H. Lee and Bain Capital Partners, have filed suit to save the deal. WSJ reports that the firms have filed suit in two locations Bexar County, Texas and the New York State Supreme Court, claiming that the financing banks did not negotiate in good faith, and attempted to insert "poison provisions" in the agreement. Details on those provisions were not reported. Why do the banks?Citigroup, Morgan Stanley, Credit Suisse, The Royal Bank of Scotland, Deutsche Bank and Wachovia?want out so bad? A report from Bloomberg today suggested that the banks stand to lose about $3 billion the moment the deal goes through, based on current trading of similar debt. Shares of Clear Channel tumbled 17 percent in today's action.

President George W. Bush told Hu Jintao, the Chinese president, that a US shipment of nuclear missile components to Taiwan in 2006 was a 'mistake'

(Reuters) — Archer Daniels Midland Co., a major food processor, has filed suit against five major U.S. railroads, alleging they schemed to fix fuel surcharges, according to court documents that the company said it filed. ADM has paid more than $250 million in fuel surcharges since 2003 and is ...

A rebound in corporate earnings later this year isn't likely to happen.