Fox Business Sets a Date

Aims to make biz news less 'Wall Street,' more 'Main Street'

(NEWSER) - Fox Business Network officially debuts this morning, launching a challenge to CNBC, the only other all-business network on the air. FBN officials say they're looking to make business news less "Wall Street" and more "Main Street," so they won't be aiming to take hard-core financial types directly from CNBC—at least for now. More»

(NEWSER) - With Wall Street in shambles, Jim Cramer’s ratings are higher than ever—which is fine as long as you ignore his stock picks, Bill Alpert writes in Barron’s. Cramer doles out thousands of buy/sell recommendations a year that consistently underperform the market. Alpert examined Cramer’s record from May to December last year, and found that while Cramer’s sells beat the market by 5%, his more numerous buys lost up to 10% more. More»

(AP) - News Corp., the global media giant controlled by Rupert Murdoch, said today it lost $6.4 billion in its most recent quarter because of a massive write-down in the value of its assets. The company, which owns the Wall Street Journal and Fox, also forecast a 30% drop in operating profits for the fiscal year to June from a year ago, when it earned $5.13 billion. More»

Fiorina will be on-air contributor when new network launches next week

(NEWSER) - Former Hewlett-Packard CEO Carly Fiorina will be an on-air contributor to the new Fox Business Network when it launches next week, FBN said today. Fiorina headed HP from 1999 to 2005 and oversaw its buyout of Compaq before scandal led to her ouster. She will be a general business contributor to the network, which aims to compete with CNBC and makes its debut Monday. More»

Mogul plans all-out global fight vs. NY Times, Financial Times

(NEWSER) - As Rupert Murdoch celebrates his acquisition of Dow Jones, articles in the new jewel in his crown, the Wall Street Journal, and one of its biggest rivals, the New York Times, speculate about the future. They agree Murdoch will direct a titanic battle for ads and readers against both the Times and the Financial Times. There's unlikely a detailed "grand plan," said one source, citing Murdoch's preference for instinctive management. More»