Business news for Tue, 18 Dec 2007 & with word buy. 71 news.

SEVEN Network now has a 93 per cent interest in Unwired Group and wants to compulsorily acquire the remaining 7 per cent of the target's shares.

Best Buy, the largest US consumer electronics retailer, underlined its leadership in the sector as it announced strong quarterly sales and earnings in spite of concerns over US consumer confidence

ARCELORMITTAL, the world's largest steel maker, won approval to increase its stake in Hunan Valin Steel Tube & Wire Co, adding to its expansion in the world's biggest consumer of the alloy. The Luxembourg-based steel maker could buy almost half the 520 million new shares sold by Valin, the Hunan-based company cited the China Securities Regulatory Commission as saying in a statement to the Shenzhen Stock Exchange yesterday. ArcelorMittal will boost its stake to 33.02 percent from 29.5 percent.

AP - Best Buy Co., the nation's largest consumer electronics retailer, reported a 52-percent jump in third-quarter profits and it raised its guidance for the full year.

THE World Bank said the economies of China and India are about 40 percent smaller than earlier estimates after it revised calcuations using consumers' relative purchasing power to measure economic might. The new figures released by the World Bank on Monday differ from conventional gross domestic product figures, which are calculated by simply converting local statistics into US dollars - but don't take into account the wide variations in the purchasing power of a dollar from country to country. A US dollar converted into 7.4 yuan will generally buy more food in China, for example, than it would buy in the United States. The bank's latest revision under its purchasing power parity method, based on updated data, shows that India and China - two of Asia's fastest-growing economies - are about 40 percent smaller than originally thought. "While PPP is not useful for commercial purposes, it is far and away the best measure of a country's standard of living," the Carnegie

CHINA set up a new center yesterday to manage its strategic petroleum reserves to prevent disruption to its oil supply and safeguard national security. The national oil reserves center will be responsible for the construction and management of state strategic crude oil reserves, overseeing the purchase and release of stockpiles and monitoring domestic and international oil supply and demand. The establishment of the center, approved by the State Council, enables China to develop the energy reserves sector professionally, the National Development and Reform Commission said on its Website. The NDRC added the center is an administrative body of the country's state oil reserve system. "But it will operate like a company more or less," said Dong Xiucheng, a professor with China University of Petroleum. "It will decide when to buy oil and may sell some when oil prices are high. But the center should not be pursuing profit." China began last year filling oil tanks

Opinions on stocks in the news Tuesday

Vivendi's SFR mobile phone subsidiary, the owner of 40.5 per cent of Neuf Cegetel, is in negotiations to buy the remainder of France's third-largest fixed-line phone company for about ?5bn

From Cramer's new book, all the reasons to buy oil and oil service stocks.

Stocks that were moving substantially or trading heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:

By Craig Rosenberg Okay, maybe you can’t buy your kid a CRM system for Christmas… although it would be exciting to hear Mark Benioff announce his new Salesforce.com support for the Wii. You can, however, buy a CRM for your organization. I truly can’t understand the “do-nothing” crowd. We have a new head CRM analyst here at [...]

BEIJING (AP) - Drivers waited in lines up to a half-mile long to buy gasoline in China's...

Independent News & Media has agreed to buy the Sligo Champion for a sum believed to be in excess of ?20m.

Wall Street rebounded Tuesday from recent losses, pleased about Goldman Sachs' and Best Buy's solid profit gains and central banks' issuance of billions of dollars in loans to the world's commercial banks.

Electronics retailer Best Buy Co. said Tuesday third-quarter profit jumped 52 percent, ahead of analyst expectations, boosted by an extra week of holiday shopping and sales of higher-priced items such as video game consoles and GPS devices.

Affymetrix Inc. has agreed to buy USB Corp., which makes and markets a line of molecular biology and biochemical reagent products, for about $75 million in cash.

Reuters - Consumer electronics retailer Best Buy Co reported a better-than-expected 52 percent jump in third-quarter profit on Tuesday on strong sales of laptops and video games, and raised its full-year earnings forecast.

MINNEAPOLIS - Electronics retailer Best Buy Co. said Tuesday its third-quarter profit jumped 52 percent, boosted by an extra week of holiday shopping and sales of higher-margin items such as video game consoles and GPS devices.

By Peter Degraaf. "Buy signals are popping up in many places as a result of today’s positive action in the metal pits. Since I posted my last article, gold has made several ‘higher lows’, a sign that the bull market is alive and well."

These days, when Wall Street runs short of money, it turns to countries such as China and the United Arab Emirates to help replenish its coffers. And where does their money come from? All the stuff you buy with the "Made in China" label and every time you fill 'er up.