News 2008-05-23 Andanh.com

F.A.A. Tests Ways to Detect Runway Junk Fri, 23 May 2008 03:36:32 GMT
A sensor is being tested by the Federal Aviation Administration to detect debris that can damage airplane engines on takeoff or even lead to plane crashes.

As Market Shifts, Ford Sees Profit Fleeing Fri, 23 May 2008 02:57:23 GMT
Rising gas prices and falling truck sales prompted the automaker to announce production cuts and retreat on its goal to become profitable by 2009.

Medtronic Unit Pays $75 Million in Fraud Claim Fri, 23 May 2008 02:50:32 GMT
The deal settles accusations that the unit, Kyphon, defrauded Medicare by telling doctors they could bill for an inpatient stay when a cheaper outpatient visit would have sufficed.

The Same Old Song on High Gas Prices Fri, 23 May 2008 02:57:33 GMT
In what has become a regular show in the hearing rooms on Capitol Hill, oil company executives took a second day of lashings over the rising price of gasoline.

U.S. in Difficult Position Over Japan’s Rice Plan Fri, 23 May 2008 03:01:58 GMT
Japan says it wants to send at least 220,000 tons of rice to the Philippines, and possibly Africa to help the poor. But critics are pointing to a trade issue.

Hints of Progress in Drugs Treating Brain Cancer Fri, 23 May 2008 03:13:18 GMT
Avastin, already widely used to treat other types of cancer, is leading a pack of new drugs that look promising as treatments for brain cancer, one of the deadliest forms of cancer.

Yahoo Gets Ready for Proxy Fight Fri, 23 May 2008 03:38:52 GMT
The company nominated 9 of its 10 existing directors for re-election to its board, setting the stage for a showdown with dissident shareholders at its annual meeting, which has been postponed until late July.

Advertising: Urgency Replaces Subtlety in Summer’s Struggle for Visitors Fri, 23 May 2008 03:38:21 GMT
As the summer travel season starts amid rising gasoline prices and airfares, tourism marketers are changing their pitches.

Auto Parts Workers Nearing a Contract Fri, 23 May 2008 02:56:16 GMT
A strike neared an end as workers at American Axle and Manufacturing appeared ready to approve a four-year contract.

Paris Bank’s Managers Are Blamed in a Scandal Fri, 23 May 2008 03:22:53 GMT
Serious management failures by superiors allowed a rogue trader at Société Générale to commit the biggest fraud in financial history, according to an internal report to be released Friday.

An Inquiry Into Interbank Loan Rate Fri, 23 May 2008 03:34:16 GMT
The British Bankers’ Association is trying to determine whether some of the 16 banks that it polls each day to set the rate at which banks borrow money from each other provided false or misleading rates.

9 Airlines Reviewed for a Possible Downgrade Fri, 23 May 2008 01:55:36 GMT
Standard & Poor’s indicated it was likely to cut the credit ratings of nine big airlines in the latest sign that the outlook for the airline industry is darkening.

UBS Moves to Raise $15 Billion Fri, 23 May 2008 01:52:24 GMT
The Swiss banking giant said that it would issue sharply discounted shares as it tried to restore capital depleted by losses on mortgage securities.

Financier Stands by a Firm Tainted by Heparin Fri, 23 May 2008 03:08:55 GMT
The founder of American Capital, an investment firm in Maryland, finds himself swept into the story of deadly, contaminated heparin imported from China.

Bid Lifts Calpine Stock Fri, 23 May 2008 02:57:25 GMT
The power company NRG Energy Inc. has made an unsolicited bid to buy its competitor for about $11 billion in stock.

5 More Indicted in Stock-Loan Inquiry Fri, 23 May 2008 01:55:39 GMT
Those indicted in the ongoing federal investigation include former employees of Morgan Stanley and Janney Montgomery Scott.

Bell Canada Shares Dive After Court Bars Buyout Fri, 23 May 2008 03:11:21 GMT
As shares in Bell Canada declined, many investors and analysts turned their attention to alternatives for the company should its $51.8 billion privatization fail.

Florida Prosecutors Declare Banker a Fugitive Fri, 23 May 2008 01:52:22 GMT
A European banker indicted in a widening investigation of UBS over its private banking business was declared to be a fugitive on Thursday, putting further pressure on the bank’s operations.

Ex-Stock Trader Is Accused of Duping Friends Out of Millions Fri, 23 May 2008 03:51:21 GMT
Instead of investing the money his friends handed him, the ex-trader spent it on luxuries, including a $300,000 Aston Martin, and expensive jewelry.

Merrill Lynch Weighs Putting Headquarters at Ground Zero Fri, 23 May 2008 03:02:31 GMT
If negotiations succeed, the company would be the first financial firm to return to the former World Trade Center site.

Gap’s Profit Rises 40 Percent Fri, 23 May 2008 00:58:09 GMT
Gap said that first-quarter net profit jumped on tighter inventories and fewer markdowns despite lower sales.

Hormel Foods Posts 14 Percent Profit Increase Fri, 23 May 2008 00:52:48 GMT
Hormel Foods reported a 14 percent rise in quarterly profit, helped by the popularity of its refrigerated foods and better sales of its Spam lunch meat, Hormel chili and Dinty Moore stew.

Respite in Oil Prices Produces an Upturn Fri, 23 May 2008 00:02:34 GMT
Wall Street rebounded moderately on Thursday after two sessions of steep declines, as oil prices stepped back from their frenetic upward run.

High & Low Finance: Revisiting an Old Law on Excessive Fund Fees Fri, 23 May 2008 02:50:40 GMT
A federal appeals court decides against a confusing law on mutual fund management fees.

Barnes & Noble’s Loss Widens on Tax Charge Thu, 22 May 2008 21:10:21 GMT
The nation’s largest book seller also lowered its sales outlook, citing a challenging economic environment.

Toro Posts Lower Profit Thu, 22 May 2008 15:01:58 GMT
A slowing U.S. economy and the late arrival of spring weather in parts of the United States curbed demand for the company’s lawnmowers and landscaping equipment.

Children's Place Profit Beats Targets Thu, 22 May 2008 18:33:50 GMT
The children’s clothing retailer said net income rose to $19.5 million in the first quarter, helped by a robust increase in sales, sending its shares up as much as 18 percent.

Fund Managers Fight Over Citi’s Prospects Thu, 22 May 2008 22:14:50 +0000
From Louise Story, a DealBook colleague: Not long ago, hedge fund managers all seemed to think financial stocks were headed one way: down. But such unanimity only lasts so long. A couple of well-known fund managers duked it out over Citigroup’s prospects at an investment conference on Wednesday. Citigroup, of course, has hit hard by the credit crunch. [...]

Merrill Said to Tap Sales Executive to Sell Subprime Assets Thu, 22 May 2008 20:55:00 +0000
Merrill Lynch is moving its top U.S. fixed-income sales executive to head up its effort to sell off subprime mortgage assets, Bloomberg News reported Thursday. Doug Mallach will lead a team that will divest assets like the packets of mortgages known as collateralized debt obligations, which spurred most of the securities firm’s $37 billion in write-downs, [...]

Carl Icahn, Political Pundit Thu, 22 May 2008 20:45:25 +0000
Be it BEA Systems or Yahoo, Carl C. Icahn has never been known to hold his tongue. So why should he restrain himself when the topic is politics? Attendees of the Ira W. Sohn Investment Research Conference on Wednesday heard the activist investor speak his mind on the subject, according to The Deal and Bloomberg News. [...]

Networks Sue an Internet Video Start-Up Thu, 22 May 2008 19:53:55 +0000
From DealBook’s colleague Brian Stelter at TV Decoder: It is awfully easy for bloggers these days to record a blooper on television — an accidental swear word, an angry tirade or some other embarrassing episode — and upload it to the Internet. NBC, CBS and Fox apparently think it’s too easy. The parent companies of those networks [...]

Who Else Could Bid For Calpine? Thu, 22 May 2008 19:11:15 +0000
NRG Energy’s roughly $11 billion unsolicited bid for Calpine has generated a lot of excitement in the normally sleepy power M&A space. There hasn’t been a major power generation hook-up in the United States in eons — or it sure feels that way — because of myriad internal industry struggles and regulatory roadblocks. This match-up [...]

Miller Undecided on Yahoo-Icahn Battle Thu, 22 May 2008 17:53:55 +0000
Bill Miller, the star portfolio manager at Legg Mason Capital Management, said he has not yet decided whether to support a dissident board slate at Yahoo backed by billionaire investor Carl Icahn. But in an interview at a New York conference on Wednesday, Mr. Miller, whose fund controls a 5.4 percent stake in Yahoo, said he [...]

A Deal in Peril Thu, 22 May 2008 17:00:18 +0000
Wednesday’s decision by the Quebec Court of Appeals rejecting Bell Canada’s “plan of arrangement” looks now like a very serious blow to the $51.8 billion buyout. CNBC’s David Faber examines the surprising decision, which overturns a lower court’s approval of the deal. With the five-judge panel siding with angry bondholders — a ruling that Mr. Faber [...]

Canadian Class Warfare Thu, 22 May 2008 16:30:39 +0000
Wow. It was quite a day Wednesday for the Court of Appeals of Quebec. The court not only upended the $51.8 billion buyout for Bell Canada Enterprises, but it managed to rewrite Canadian takeover law in the process. The case was brought by the debenture holders in Bell Canada, a wholly-owned subsidiary of BCE. [...]

74 City Schools Told to Expect 5% Budget Cut Fri, 23 May 2008 03:46:00 GMT
The city’s Department of Education released a list on Thursday of 74 schools, including its most prestigious high schools, that are to have their budgets for next year cut by more than 5 percent.

Big City: A School That Cost $20,000 Not to Go To Fri, 23 May 2008 03:02:35 GMT
The fine print required parents pay full tuition to a desirable private school, if their child attended, or not.

F.D.A. to Expand Scrutiny of Risks From Drugs After They’re Approved for Sale Fri, 23 May 2008 04:00:29 GMT
Repeated instances in which popular medicines proved deadly have prompted further monitoring of drugs already on the market.

Bacteria Thrive in Inner Elbow; No Harm Done Fri, 23 May 2008 03:32:37 GMT
Even after you have washed the skin clean, there are still one million bacteria in every square centimeter of skin in the crook of your elbow. But they are not bad bacteria.

Common Virus Blamed for 5 Infant Deaths, CDC Says Thu, 22 May 2008 20:01:59 GMT
The Coxsackievirus caused two deaths in California and one each in Illinois, Colorado and New Mexico, health officials said.

Junta Offers Showcase Camps, but Most Burmese Lack Aid Fri, 23 May 2008 04:09:42 GMT
Several days after Than Shwe, the leader of the military junta, visited a camp with relief supplies for cyclone victims, the aid is still held up.

Generals Tell Senate They Hope for Modest Cut in U.S. Troops in Iraq This Fall Fri, 23 May 2008 03:00:37 GMT
Top American military commanders in Iraq offered a cautiously optimistic picture of the situation.

Italy Plans to Resume Building Atomic Plants Fri, 23 May 2008 04:13:36 GMT
The announcement to resume building nuclear energy plants within five years reflected growing concern in Europe over the skyrocketing price of oil and energy security.

Tory Wins Labor Bastion, in Blow to Premier Fri, 23 May 2008 03:19:20 GMT
In the results of the by-election, which saw a record voter turnout of nearly 60 percent, the Conservative majority over Labor was more than 7,800 votes.

Congress Trims Bush’s Mexico Drug Plan Fri, 23 May 2008 03:52:24 GMT
The Senate trimmed $150 million in anti-drug trafficking aid to Mexico and put human rights conditions on some of the financial assistance.

Georgia Ruling Party Cements Power Fri, 23 May 2008 03:00:38 GMT
The ruling party in Georgia had a commanding lead in the Parliamentary elections held on Wednesday.

Suicide Bomber Attacks Gaza Crossing Fri, 23 May 2008 01:12:27 GMT
It appeared that only the bomber had been killed in the blast near the Erez crossing on the Gaza-Israel border, that caused some damage, but no injuries, on the Israeli side.

News Analysis: Olmert Peace Effort Elicits Cynicism and Hope Fri, 23 May 2008 04:03:22 GMT
The mix of Prime Minister Ehud Olmert’s diplomatic ambition and humiliating personal circumstances has riveted Israel and raised questions about the links between the two.

New Choice for Pakistan Fri, 23 May 2008 03:01:18 GMT
Maj. Gen. Jay W. Hood’s assignment as the top American officer in Pakistan was canceled after media there criticized his work as commander of the military prison at Guantánamo Bay, Cuba.

Economic Toll Mounts From High Oil Prices Thu, 22 May 2008 23:24:38 GMT
Runaway energy prices are forcing some of the biggest names in global industry, including Ford and Air France-KLM, to shift course and retrench.

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