Business news for Fri, 16 Nov 2007 & with word billion. 56 news.

SAN FRANCISCO (MarketWatch) -- CapitalSource Inc. said late Friday it completed a $435 million term financing of corporate loans. After giving effect to the transaction, CapitalSource will have about $3.5 billion of commitments under its credit facilities. The sold tranches were priced at a weighted average interest rate of 1 month London Interbank Offered Rate plus 1.05%, excluding fees, the company said.

Credit market losses could wind up hitting $400 billion US and financial institutions may cut their lending by $2 trillion US, according to an economist with Goldman Sachs Group Inc.

Cincinnati City Manager Milton Dohoney has proposed new fees for garbage collection, reduced pension contributions and dissolving the department of buildings and inspection as part of a $1.1 billion 2008 city budget announced this afternoon.

Holders of convertible senior notes issued by Countrywide Financial Corp. worth $4 billion might sell off the debt, according to media reports. (CFC)

A judge approved on Friday a $6.8 billion financing plan for Delphi Corp.'s exit from bankruptcy.

SAN FRANCISCO (MarketWatch) -- GE Aviation said Friday it has secured about $10 billion in product and service orders during the 10th annual Dubai Airshow. The orders include a $1.4 billion deal to provide services and supply materials to Saudi Arabian Airlines, and a $3.7 billion deal with Qatar Airways to supply engines and maintenance service. Engine Alliance, a partnership between GE Aviation and Pratt & Whitney, also signed a $3 billion deal with Emirates for maintenance, repair and overhaul of engines that power the airline's Airbus A380 fleet, GE Aviation said.

LITTLE ROCK, Ark. - Alltel Corp., the nation's fifth-largest wireless carrier, was taken private Friday to complete a $24.

Alltel Corp., the nation's fifth-largest wireless carrier, was taken private Friday to complete a $24.7 billion buyout by two private equity groups.

A group of technology service providers are claiming that the U.S. government broke its own laws when it picked contractors for the Alliant program.

British insurer Resolution has agreed to a ?5 billion takeover offer from private rival Pearl.

LONDON (MarketWatch) -- Resolution , a U.K. insurance group that manages policies for firms no longer seeking new business, said it's backing a 720 pence a share in cash offer from Pearl Group that values it at 4.98 billion pounds ($10.3 billion). The deal will make the firm a top ten British life insurer with assets under management of 85 billion pounds. Standard Life last week withdrew its offer for Resolution, and Resolution earlier withdrew a merger proposal with Friends Provident .

SAN FRANCISCO (MarketWatch) -- Fitch Ratings downgraded Kraft Foods Inc's. long-term issuer default rating, senior unsecured debt and credit facility to BBB from BBB+, the rating agency said Friday. Fitch cited Kraft's leverage for the 5.3 billion euros ($7.8 billion) debt-financed Danone biscuits purchase and the limited amount of near-term debt reduction as a result of the proposed $2.6 billion Post cereals transaction with Ralcorp Holdings. The rating agency affirmed Kraft's short-term issuer debt rating and commercial paper ratings at F2. The rating outlook is stable.

Online advertising has evolved significantly since Yahoo placed the first display ad on its home page as a test to see how users would react. Back then, no one was really sure online advertising could be a business model. But users responded, and Yahoo went public in 1996, the same year that the Internet Advertising Bureau was formed. In a short 10 years, the IAB reported that Internet ad revenues neared $17 billion in 2006.

Cisco Systems Inc. has boosted its stock buyback effort by $10 billion, a sign the Internet networking supplier still believes its shares are undervalued.

Cisco Systems said Friday that its board has approved another $10 billion for buying back company shares, bringing its total ...

Net foreign acquisition of long-maturity U.S. securities totaled $5.8 billion in September, recovering from record sales the previous month, according to a U.S. Treasury Department report released Friday.

Garmin on Friday withdrew its 2.3 billion euro ($3.4 billion) bid for Tele Atlas, clearing the road for TomTom to acquired the digital map maker. Garmin last month launched its rival bid for Tele Atlas, trumping TomTom’s original bid. The Dutch maker of navigation devices responded by sweetening its offer to 2.9 billion euros. Garmin said [...]

THE US Federal Reserve said yesterday that it had pumped US$47.25 billion into the nation's financial system to help ease tight liquidity. The cash infusion, which has been injected in three separate operations, was the most since September 2001, according to an official from the Federal Reserve Bank of New York, which handles such operations for the US central bank. The Fed serves as the banking industry's lender of last resort, providing money to financial institutions when other sources of credit are difficult to obtain. It typically buys billions of dollars worth of securities from major banks, injecting extra cash into the banking system, which the banks are obliged to repurchase at a later date. Since early August this year, when the credit crunch took a turn for the worse, the Fed has pumped large amounts of cash into the financial system to help ease tightening credit that stems from the troubles in the U.S. high-risk subprime mortgage market, which offers loans to

After a shaky start to trade on Friday, news that Cisco Systems would buy back $US10 billion of its own stock helped to push Wall Street higher, closing up 67 points.