Citizens Communications Co. will change its name to Frontier Communications Corp. on July 31. That day the company’s stock symbol on the New York Stock Exchange will become FTR, replacing the present CZN. The company offers telephone, television and internet services in 24 states. Citizens purchased the former Commonwealth Telephone Enterprises in March 2007 in a deal worth $1.29 billion.
US Airways said Thursday that high fuel prices are forcing the airline to seek a one-year delay in starting a route between Philadelphia and Beijing.
In letters to members of Congress and employees, the airline said the cost for fuel to run the route would be more than $90 million a year — $40 million more than the original estimate of about $50 million.
A leading global energy monitor said Thursday it is worried that demand for oil will outstrip world supply and is preparing a landmark revision of its closely watched forecasts.
The International Energy Agency is studying depletion rates at about 400 oil fields in its first-ever study of world oil supply, said chief economist Fatih Birol.
Borders Group Inc. Chief Executive George Jones said Thursday he expects the company’s investments developing concept stores and its own Web site for online selling to start paying off this year.
Despite the possibility that the nation’s second-largest book chain may put itself up for sale, Jones told investors during the company’s annual meeting of shareholders that Borders is moving forward on efforts to improve its business.
The meeting came a day after rival bookseller Barnes & Noble Inc. had assembled a team to study the feasibility of acquiring Borders.
Qwest Communications International shareholders have approved a measure giving them greater control over some executive severance packages.
The measure requires shareholder approval for severance agreements with a total value exceeding 2.99 times the sum of an executive’s base salary plus target bonus.