Last Updated Jun 18, 2007 2:02 PM EDT
- Wendy's, the United States' third-largest hamburger chain, announced that it was considering selling the company to boost its strategic value. The company also reduced its earnings forecast for 2007 due to lower-than-expected same-store sales and higher commodity costs. The sale would help the chain compete against aggressive marketing from market leaders McDonald's and Burger King.
- European airplane manufacturer Airbus announced more than $22 million worth of orders for new planes at the first day of the Paris Air Show. The air show orders, which come largely from Middle Eastern airlines, may help Airbus turn around its 2007 sales,which have been hurt by two-year production delays in its superjumbo A380 and a fitful start for the mid-sized A350.
- Sports footwear retailer Finish Line will acquire Genesco, the parent company of teen-oriented Journeys and upscale men's Johnston & Murphy's shoe chains and Hatworld and Lids hat shops. Finish Line hopes the acquisition will enable them to reach a wider consumer audience in the shoe retail market and compete better in the head gear market.
- Oil prices are at a nine-month high after Nigerian oil unions called a strike for this week and attacks on two Nigerian oil facilities. The news encouraged large funds to invest more heavily in oil futures, which is driving up prices. Recent outages in domestic refineries have also contributed to the increase.