News 2008-05-14 Andanh.com

Congress Votes to Stop Stockpiling Oil Wed, 14 May 2008 04:54:11 GMT
Both the House and Senate voted by wide margins to halt shipments to the strategic petroleum reserve as long as prices remain high.

Oil Refiners See Profits Sink as Consumption Falls Wed, 14 May 2008 04:56:00 GMT
High prices are putting a strain on oil refiners. In a time of record gasoline prices, some actually lost money in the first quarter, and for nearly all, profits are down sharply.

Ex-Banker From UBS Is Indicted in Tax Case Wed, 14 May 2008 05:10:44 GMT
A former UBS banker and another man were charged for their alleged role in a tax evasion scheme.

Sony Posts Surprise Quarterly Loss Wed, 14 May 2008 06:51:19 GMT
Sony Corp. posted a loss as the weak stock market ate into the value of its securities holdings, but it forecast a bigger-than-expected profit this year.

Clear Channel Accepts Smaller Takeover Bid Wed, 14 May 2008 04:52:12 GMT
Clear Channel agreed to a revised $17.9 billion takeover by two private equity firms after settling a long and often acrimonious dispute with the six banks that agreed to finance the deal.

Discounters Fared Well in Quarter Wed, 14 May 2008 05:20:33 GMT
Wal-Mart Stores and the TJX Companies said that sales and profit surged during the first three months of the year as consumers flocked to their discounted merchandise.

Icahn Is Said to Weigh a Proxy Fight at Yahoo Wed, 14 May 2008 05:08:04 GMT
Carl C. Icahn is considering a proxy fight for seats on Yahoo’s board in hopes of pushing the company to restart talks to sell itself to Microsoft.

Craigslist’s Countersuit Criticizes eBay’s Tactics Wed, 14 May 2008 05:20:43 GMT
The online classifieds company filed a countersuit against minority owner eBay, accusing it of unfair competition, false advertising, trademark infringement and diluting the value of the Craigslist trademark.

Advertising: A Second Night for Comedy at CBS Wed, 14 May 2008 05:21:33 GMT
CBS will try to expand its growing success with comedy in the new lineup of programs that it will introduce on Wednesday to advertisers in New York.

The Optimistic (and Long) View of Larry A. Silverstein Wed, 14 May 2008 05:23:09 GMT
At a time when many developers around the country are being forced to pull in their reins, Larry A. Silverstein has only to look out his windows to see a new real estate empire in the making.

April Retail Sales Dipped, but Some Sectors Held Up Wed, 14 May 2008 05:37:22 GMT
United States retail sales weakened modestly in April, but outside the auto sector they were more resilient than many economists had forecast.

Liberty Media in Accord With Diller’s Company Wed, 14 May 2008 05:39:10 GMT
Liberty Media and IAC/InterActiveCorp said that they had settled their differences, paving the way for the division of IAC into five companies.

Quirky Top-Floor Spaces in Demand for Offices Wed, 14 May 2008 05:37:46 GMT
Manhattan landlords and developers are creating new rentable space from top floors once used for storage or equipment, and they are figuring out how to use even small quantities of air rights.

Financial Markets Calmer, but Still ‘Far From Normal,’ Bernanke Says Wed, 14 May 2008 05:20:10 GMT
The Federal Reserve’s steps to ease the credit crunch “have contributed to some improvement in financing markets,” the Fed chief said in remarks on Tuesday.

Stocks & Bonds: ‘A Trendless Market’ Ends the Day Mixed Wed, 14 May 2008 05:19:48 GMT
Wall Street turned in a mixed performance after a report on retail sales and high oil prices reminded investors that the economy is flagging and costs are rising.

Celebrity Editor to Leave Her Post Wed, 14 May 2008 05:09:24 GMT
The celebrity magazine editor Bonnie Fuller is resigning as executive vice president and chief editorial director of American Media, the publisher of the National Enquirer and Star magazines.

At Barneys, the Chief Is Leaving After 7 Years Wed, 14 May 2008 05:28:05 GMT
Howard Socol helped to restore Barneys luster after the chain slipped into bankruptcy in the 1990s.

Nissan Warns Profit Jump Is Fleeting Wed, 14 May 2008 05:11:44 GMT
Nissan became the latest major Japanese automaker to report booming earnings for the fiscal year that just ended while forecasting a plunge in profit for the current year.

Liz Claiborne Beats Wall St. Expectations Wed, 14 May 2008 05:11:28 GMT
Despite the strong results, Liz projected weakness in the second quarter because of a calendar shift, disappointing sales trends in its Mexx Europe business and discounting by American retailers.

Profit Dips at Whole Foods Market Wed, 14 May 2008 05:21:08 GMT
Whole Foods Market posted a lower quarterly profit, missing analysts’ estimates by a penny, as it booked charges related to its acquisition of Wild Oats Markets.

Charges Widen Loss at Electronic Arts Wed, 14 May 2008 05:27:43 GMT
The video game publisher said that its fourth-quarter net loss widened on restructuring charges, though its adjusted revenue beat Wall Street’s expectations.

Philadelphia to Lose Its Wi-Fi Network Wed, 14 May 2008 05:27:54 GMT
EarthLink is pulling the plug on its troubled wireless high-speed Internet network in Philadelphia, once seen as a national model.

‘SportsCenter’ During Day to Be Shown Live Wed, 14 May 2008 05:52:00 GMT
After years of televising taped versions of “SportsCenter” in the mornings, ESPN announced Tuesday that the studio show would be live starting in August.

Sports Business: Dolan’s Conflict of Coverage Wed, 14 May 2008 05:54:28 GMT
After being acquired by Cablevision, Newsday staffers must wonder how a company and a chief executive who have shown hostility to journalism will treat journalists on its payroll.

Thursdays Free for Michaels Wed, 14 May 2008 05:53:23 GMT
Al Michaels will not spend any of his Thursday nights in November and December working for the NFL Network after all.

When an Anchor Curses on the Air, She Becomes the Night’s Top Story Wed, 14 May 2008 05:50:23 GMT
On live television, Sue Simmons used an unpublishable word to chide her WNBC-TV co-anchor, Chuck Scarborough.

Economic Scene: Fearing Red Herring in the Data Wed, 14 May 2008 05:02:08 GMT
What are we supposed to make of the latest batch of better-than-expected economic news?

World Business Briefing | Africa: South Africa: Power Losses Trim Ore Output Wed, 14 May 2008 05:25:20 GMT
South Africa, the world’s biggest precious metals producer, said mining output fell 17 percent in March because of power shortages.

World Business Briefing | Asia: China: Retail Sales Rose 22 Percent in April Wed, 14 May 2008 05:25:09 GMT
Chinese retail sales rose 22 percent in April, an indication that domestic demand is increasing, offsetting the effect of declining exports.

World Business Briefing | Europe: Britain: Inflation Figure Jumps Wed, 14 May 2008 05:24:41 GMT
Consumer prices in Britain rose 3 percent in April compared with a year earlier, propelled by rising prices for home gas, electricity and heating oil, the government said.

World Business Briefing | Europe: Ban on U.S. Chicken Imports Might End Wed, 14 May 2008 05:24:28 GMT
The end of a decade-long European ban on poultry imports from the United States moved a step closer after the European Commission promised to put forward a formal proposal to lift the embargo.

World Business Briefing | Europe: The Netherlands: Office Supply Company Rejects Bid Wed, 14 May 2008 05:24:55 GMT
Staples raised its bid to acquire Corporate Express, an office products supplier based in the Netherlands, by 10 percent, to $2.47 billion, but Corporate Express said it was still too low.

Icahn Said to Prepare Fight at Yahoo Tue, 13 May 2008 19:42:26 +0000
Carl C. Icahn may have set his sights on his latest target: Yahoo. The activist investor is considering beginning a proxy fight at the Internet media company, fewer than two weeks after it rebuffed a takeover offer from Microsoft, a person briefed on the matter told DealBook. Mr. Icahn began stockpiling a large stake in Yahoo, [...]

2 Indicted in UBS Tax Investigation Tue, 13 May 2008 19:16:15 +0000
Federal authorities indicted on Tuesday a former UBS banker for his role in a tax evasion scheme that allowed an ultra-wealthy American to use overseas trusts to avoid paying taxes on $200 million in assets, The New York Times reported. The banker, Bradley Birkenfeld, and a co-conspirator, Mario Staggl, were each charged Tuesday by federal prosecutors [...]

Australian Bank Buys Rival for $17.5 Billion Tue, 13 May 2008 12:30:40 +0000
Westpac Banking said Tuesday that it would acquire its smaller rival St. George in a takeover worth about 18.5 billion Australian dollars, or about $17.5 billion. The deal will create one of Australia’s largest banks. But investor have given the bid a mixed welcome, and the deal must clear a number of regulatory hurdles before shareholders [...]

Teach for America Sees Surge in Popularity Wed, 14 May 2008 05:21:57 GMT
The program that recruits top college graduates to teach for two years in public schools that are difficult to staff will place 3,700 new teachers this fall, up from 2,900 last year.

Earthquake in China Highlights the Vulnerability of Schools in Many Countries Wed, 14 May 2008 04:40:57 GMT
The loss of life in schools collapsed by the earthquake around China could have been reduced using known methods for designing or retrofitting structures in earthquake zones, experts said.

F.D.A. Chief Writes Congress for Money Wed, 14 May 2008 06:39:25 GMT
The Food and Drug commissioner has written Congress that the agency needs an immediate infusion of $275 million to ensure that imported foods, drugs and medical devices are safe.

For the Disabled, Age 18 Brings Difficult Choices Wed, 14 May 2008 06:17:03 GMT
As medical advances have allowed patients who might have died as children to survive into adulthood, the health care system has yet to develop institutions for them.

Mammogram With Ultrasound Improved Detection of Cancers Wed, 14 May 2008 05:13:49 GMT
The study was designed to see whether ultrasound might improve the chances of finding breast cancer in high-risk women with dense breast tissue, which makes cancer harder to see on a standard mammogram.

National Briefing | Health: Study Says Research Shows Exercise in Youth Can Help Protect Girls From Wed, 14 May 2008 05:23:43 GMT
New research shows exercise in the teenage years, starting as young as age 12, can help protect girls from breast cancer when they are grown.

News Analysis: A Rescue in China, Uncensored Wed, 14 May 2008 06:17:24 GMT
The rescue effort playing on Chinese television is remarkable for a country that has a history of concealing the scope of natural calamities.

Officers Battle Visa Hurdles for Iraq Aides Wed, 14 May 2008 06:18:39 GMT
Veterans have rallied to help Iraqi interpreters working for U.S. forces through the difficulties, bureaucratic and otherwise, to obtain visas to immigrate to the U.S.

New Problems and Old Friction Put British Premier in Political Jeopardy Wed, 14 May 2008 04:50:52 GMT
With dismal poll ratings, Gordon Brown is drawing comparisons to the hapless John Major, Britain’s last Conservative prime minister, ousted in the Labor landslide of 1997.

Factory Visit Tied to Ouster of Attachés From Russia Wed, 14 May 2008 04:45:45 GMT
The two U.S. military attachés who were expelled from Russia early this month had made an uninvited visit to a military aviation factory in Siberia that Russia regards as strategic.

Blair Unveils Proposals to Improve Life on the West Bank Wed, 14 May 2008 04:31:20 GMT
Tony Blair, envoy of the so-called quartet of Middle East peacemakers, said improving living conditions for Palestinians was necessary to make political negotiations work.

Gates Says New Arms Must Play Role Now Wed, 14 May 2008 06:43:23 GMT
Defense Secretary Robert M. Gates said that expensive new conventional weapons must prove their value to current conflicts if they are to be included in further Pentagon budgets.

Nationalist Premier of Serbia Teams Up With Radical Party Wed, 14 May 2008 04:27:33 GMT
It was the opening move in an elaborate coalition mating dance following Serbia’s inconclusive general election on Sunday.

North Korea Documents Make Debut, at a Distance Wed, 14 May 2008 04:36:23 GMT
The documents, which officials have described as representing a complete accounting of North Korea’s plutonium production, were briefly displayed to the media on Tuesday.

Shmuel Katz, an Opponent of Begin’s Peace Effort, Dies at 93 Wed, 14 May 2008 05:27:10 GMT
Mr. Katz was a close adviser to Menachem Begin, Israel’s prime minister in the late 1970s and early 1980s, but later became an opponent of Begin’s peace efforts with Egypt and the Palestinians.

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