News 2008-05-16 Andanh.com

Saudis Rebuff Bush, Politely, on Pumping More Oil Sat, 17 May 2008 02:02:25 GMT
The Saudis announced that they had increased output starting on May 10, but they seemed to reject a request by President Bush, who was visiting, to raise oil production further.

Congressional Pressure Prevails As U.S. Halts Filling of Oil Reserve Sat, 17 May 2008 01:53:21 GMT
The move announced by the Energy Department that it would temporarily suspend a program to fill the nation’s strategic oil stocks failed to break the rally in oil prices, which hit another record Friday.

After Warehouse Fire, Less Rocket’s Red Glare Sat, 17 May 2008 01:51:27 GMT
An explosion that destroyed 20 fireworks warehouses in China three months ago will probably mean dimmer night skies on the Fourth of July in the United States.

your money: 5 Basic Guidelines for Managing Your Finances Sat, 17 May 2008 01:51:23 GMT
A new Times columnist offers guidance that can be useful in making just about any financial decision.

Robert Mondavi, 94, California Winemaker, Dies Sat, 17 May 2008 01:20:24 GMT
Robert Mondavi was the California winemaking patriarch who built his winery into a thriving business using innovations such as cold fermentation and stainless steel tanks.

Paulson Says Economy Is Starting to Rebound Sat, 17 May 2008 01:52:16 GMT
The Treasury secretary, Henry M. Paulson Jr., delivered a guardedly optimistic message to business leaders.

FAO Schwarz to Sell Toys in Macy’s Sat, 17 May 2008 01:51:23 GMT
Two of New York’s most venerable retail brands, Macy’s and FAO Schwarz, are teaming up for a risky experiment: bringing toys back to the department store.

Airlines Told to Report Tarmac Delays Fully Fri, 16 May 2008 23:00:27 GMT
The Department of Transportation said that it would require airlines to give fuller accountings of delays on the tarmac.

Larry King Squelches Rumors of Shift at CNN Fri, 16 May 2008 23:01:43 GMT
Larry King, who said last year that he hoped Ryan Seacrest would succeed, sought to tamp down speculation that any succession was imminent.

3 Nordic Banks Help Iceland Prop Up Currency Sat, 17 May 2008 01:51:27 GMT
The central banks of Sweden, Denmark and Norway have lent Iceland emergency credit of up to $2.3 billion to shore up its swooning currency and forestall a broader economic collapse.

DealBook: Carlyle and the Washington Factor Fri, 16 May 2008 21:08:23 GMT
Carlyle’s $2.5 billion acquisition of a majority stake in the government consulting arm of Booz Allen Hamilton is bound to dredge up old images of the firm as the ultimate Washington insider.

For Wall Street Workers, Ax Falls Quietly Fri, 16 May 2008 18:00:22 GMT
Some people who have lost jobs, and many more struggling to hold them, say banks are keeping employees in the dark about the size and timing of layoffs.

CBS in Deal to Buy CNet to Increase Online Ads Fri, 16 May 2008 13:15:13 GMT
At $1.8 billion, Thursday’s deal for CNet by CBS is the biggest by far in its recent Internet expansion, making the network a bigger player in online media.

Germany Debates Subsidies for Solar Industry Fri, 16 May 2008 11:49:31 GMT
Thanks to its aggressive push into renewable energies, cloud-wreathed Germany has become an unlikely leader in the race to harness the sun’s energy.

Farm Bill, Facing Veto, Goes to Bush Fri, 16 May 2008 06:38:21 GMT
The president has promised to veto the bill because he says it would not do enough to limit subsidies at a time of record grain prices.

Microsoft Joins Effort for Laptops for Children Fri, 16 May 2008 14:31:26 GMT
After years of conflict, Microsoft and the computing and education project One Laptop Per Child have reached an agreement that will put Windows on the organization’s computers.

Yahoo’s Chairman Disputes Icahn’s Accusations Fri, 16 May 2008 05:57:26 GMT
Yahoo’s chairman rejected accusations from the billionaire investor Carl C. Icahn that the company’s board had acted irrationally in rejecting a $47.5 billion takeover offer from Microsoft.

Market Place: A Values Debate (Not the Political Kind) Fri, 16 May 2008 05:41:20 GMT
Wall Street is struggling to answer what might seem like a simple question: How much are some investments really worth?

Judge Sides With Red Cross Over Trademark Fri, 16 May 2008 06:06:17 GMT
Johnson & Johnson lost the second round in its trademark dispute against the disaster relief agency when a federal judge in Manhattan threw out most of the case.

Advertising: Yahoo and WPP in Partnership Fri, 16 May 2008 05:40:24 GMT
The deal between Yahoo and WPP Group, the advertising holding company, will give WPP’s clients a broader swath of Web sites where they can aim their messages.

Investigator to the Stars Is Convicted in Wiretaps Fri, 16 May 2008 17:43:17 GMT
Anthony Pellicano was a ripped-from-a-pulp-novel private eye who made himself an indispensable Hollywood fixer.

Big Retailers Trim Costs, and Their Profits Rise Fri, 16 May 2008 05:33:25 GMT
J. C. Penney, Kohl’s and Nordstrom reported first-quarter profit on Thursday that fell less than analysts estimated by reducing costs as the economy teetered near a recession.

Bernanke Says Banks Need More Capital Fri, 16 May 2008 05:59:53 GMT
Ben S. Bernanke, the Federal Reserve chairman, urged banks to keep raising capital in the aftermath of losses from the credit crisis to avert deeper damage to the economy.

Industrial Output Fell Sharply in April, Led by Auto Production Cuts Fri, 16 May 2008 05:48:28 GMT
The Federal Reserve reported on Thursday that industrial production dropped 0.7 percent last month, more than double the decline that economists had expected.

French Bank to Sell Assets to Offset Subprime Losses Fri, 16 May 2008 10:22:55 GMT
Crédit Agricole named a new head for its investment banking unit and said it planned to sell 5 billion euros, or $7.75 billion, of assets to help pare losses linked to the subprime market downturn.

Blackstone Reports a $66.5 Million Quarterly Loss Fri, 16 May 2008 05:40:53 GMT
The Blackstone Group posted a $66.5 million quarterly loss on Thursday, and its executives warned that the turmoil in the financial markets may not be over.

Sanofi-Aventis Wants F.D.A. to Reconsider Heart Drug Fri, 16 May 2008 06:10:57 GMT
The company said it would resubmit its application for Multaq based on results from a study showing that the drug reduced both hospitalization and death in patients with atrial fibrillation.

Fox Plans to Run Fewer Ads in 2 New Prime-Time Dramas Fri, 16 May 2008 05:49:15 GMT
The president of Fox Entertainment announced a plan that would allow two of its new dramas, “Fringe” and “Dollhouse,” to run as many as 50 minutes of story each episode.

Led by Germany, a Strong Quarter for Europe Fri, 16 May 2008 06:07:19 GMT
The German economy grew 1.5 percent in the first quarter of this year, delivering its best performance in over a decade. The euro zone grew 0.7 percent during the period.

Buffett Increases Stakes in Kraft Foods and Wells Fargo Fri, 16 May 2008 05:31:08 GMT
Berkshire Hathaway, the investment company controlled by Warren E. Buffett, took advantage of prices driven down by the credit crisis and the slowing American economy.

Deal for Auto Workers Fri, 16 May 2008 05:42:49 GMT
The Canadian Auto Workers union reached tentative agreements with General Motors of Canada and Chrysler Canada, four months before current contracts expire.

U.S. Declines to Say China Manipulates Its Currency Fri, 16 May 2008 05:43:25 GMT
The Bush administration on Thursday declined to label China a manipulator of currency to gain unfair trade advantages.

Editor From Herald Tribune to Run A.P. News in the U.S. Fri, 16 May 2008 05:38:12 GMT
Michael Oreskes, the executive editor of The International Herald Tribune, is taking a newly created position as managing editor for United States news at The Associated Press.

Cost-Cutting Helps Blockbuster Post a Profit Fri, 16 May 2008 06:10:21 GMT
The movie rental chain Blockbuster posted a higher-than-expected quarterly profit, bolstered by cost-cutting measures.

Warren Cowan, a Star at Promoting Stars, Dies at 87 Fri, 16 May 2008 05:47:39 GMT
Mr. Cowan represented generations of celebrities, from Doris Day to Bette Midler, Frank Sinatra to Elton John, Ronald Reagan to Arnold Schwarzenegger.

Stocks & Bonds: Oil Price Dip Helps Shares Post a Gain Fri, 16 May 2008 06:09:52 GMT
The stock market notched a second consecutive daily advance Thursday as oil prices fell slightly and some economic data came in better than expected.

Competitor Files a Lawsuit Claiming Speedo Is Attempting a Monopoly Fri, 16 May 2008 19:15:51 GMT
TYR Sport Inc. describes a climate in which elite athletes have been led to believe they cannot excel on the world stage unless they wear Speedo’s newest high-tech suit.

High & Low Finance: Color-Blind Merrill in a Sea of Red Flags Fri, 16 May 2008 15:15:16 GMT
So-called piggyback loans have been highly vulnerable to homeowners who walk away when property values fall.

Carlyle and the Washington Factor Fri, 16 May 2008 18:39:41 +0000
Carlyle Group, the private equity behemoth, has for years been trying to shed its image as the ultimate Washington insider, profiting from its ties to the power brokers in government, business and the military. But its $2.5 billion acquisition Friday of a majority stake in the government consulting arm of Booz Allen Hamilton, an influential [...]

The Yahoo Final Exam Fri, 16 May 2008 17:30:17 +0000
From: The Deal Professor To: DealBook Readers It is law school finals season, and I’m a bit busy these days grading exams. So I thought I’d just give you my final exam. And don’t be surprised if some of these “hypotheticals” seem very, very familiar. Hypothetical One Assume a company named Yahoo spurns a bid at $33 a share [...]

Icahn’s Proxy Fights: A Scorecard Fri, 16 May 2008 16:37:27 +0000
“I’m the guy in school that the other guys go to and say ‘Beat that guy up.’” — Carl Icahn Carl Icahn has been labeled a “corporate raider” and a “shareholder activist.” He has said he thinks they both mean the same thing: He goes into companies that are undervalued and tries to boost the stock [...]

Job-Hunting in London? Keep Looking Fri, 16 May 2008 15:56:00 +0000
From Julia Werdigier, DealBook’s colleague in London: For some London bankers, now may be a good time to earn that MBA or go on that vacation. There were not only more job applicants than vacancies in the city’s financial industry last month but the gap between the two has just widened to biggest in three years, [...]

Carlyle to Buy Booz Allen’s Government Unit Fri, 16 May 2008 14:04:13 +0000
The consulting firm Booz Allen Hamilton said early Friday that it would sell a majority stake of its government practice to the private equity firm Carlyle Group for $2.54 billion. The announcement came four months after DealBook reported that a potential deal with Carlyle, run by David Rubenstein, was in the works. The transaction is bound [...]

Senate Rejects Looser Media Ownership Rules Fri, 16 May 2008 13:03:43 +0000
The Senate voted on Thursday to overturn new, looser media ownership restrictions in the 20 biggest U.S. cities, defying a White House threat to veto the measure. Senators, on a voice vote, approved a resolution nullifying the new, relaxed ownership rules adopted in December by the Federal Communications Commission. The vote moved lawmakers a step closer [...]

G.E. Confirms Potential Sale of Appliances Unit Fri, 16 May 2008 12:47:55 +0000
General Electric on Friday confirmed that it is exploring a potential sale or spinoff of its appliances business, one of the oldest at the 120-year-old conglomerate. As The New York Times and others reported earlier this week, the struggling conglomerate has hired Goldman Sachs to explore “strategic alternatives,” which G.E. said includes a potential joint venture. While [...]

Verso Shares Fall in Market Debut Fri, 16 May 2008 12:26:38 +0000
Shares of Verso Paper, a company backed by private equity firm Apollo Management, fell 17 percent in their market debut Thursday. The company had already cut the number and expected price of shares to be sold. The offering had been expected to price at between $16 and $18 per share, which would have approximately tripled the [...]

Attention CNET Shoppers Fri, 16 May 2008 12:19:52 +0000
CNET Networks surprised the market, and no doubt Jana Partners, with its announcement Thursday that it would be acquired by CBS. But the merger agreement filed by CNET on Thursday contains its own surprise. CNET has negotiated a rather unique provision that gives it more leeway than usual to find another, higher bidder. If it [...]

Yahoo Chairman Fires Back at Icahn Fri, 16 May 2008 12:13:02 +0000
Yahoo’s chairman, Roy Bostock, rejected late Thursday accusations from the billionaire investor Carl C. Icahn that the company’s board had acted irrationally in turning down a $47.5 billion takeover offer from Microsoft and repeated that Yahoo remained open to a deal at the right price. Mr. Icahn announced earlier in the day that he intended to [...]

District Puts All the World in Classrooms Fri, 16 May 2008 06:31:06 GMT
A district in Nassau County is taking globalization to the graduate level, integrating international studies into every aspect of its curriculum.

House Approves Tax on Rich to Aid G.I.’s Fri, 16 May 2008 04:44:22 GMT
The bill will provide veterans who enlisted after the Sept. 11 attacks with new education benefits.

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