News 2008-06-05 Andanh.com

The Food Chain: Food Is Gold, and Investors Pour Billions Into Farming Thu, 05 Jun 2008 06:53:58 GMT
Some private investors are starting to make long-term bets that the world’s need for food will increase.

Wal-Mart’s Detractors Come In From the Cold Thu, 05 Jun 2008 03:59:39 GMT
After waging an aggressive public relations campaign against Wal-Mart for three years, the company’s union-backed critics are lowering their pitchforks.

Alltel Sale to Verizon Looks Likely Thu, 05 Jun 2008 05:32:06 GMT
The potential $27 billion deal would create the nation’s largest cellular telephone provider.

Investment Places F.C.C. Aide Amid Fraud Inquiry Thu, 05 Jun 2008 04:09:19 GMT
Lenders have questioned an official’s investment in what turned out to be a fraudulent venture that took more than $54 million from shareholders.

At Harvard, They Hail a Fed Chief Thu, 05 Jun 2008 04:26:27 GMT
Ben S. Bernanke spoke about the economic pressures created by high oil prices and inflation at his alma mater.

Opposition to Menthol Cigarettes Grows Thu, 05 Jun 2008 04:26:27 GMT
Seven former health secretaries protested menthol’s special treatment in a tobacco bill pending in Congress.

Detroit Automakers Compete for a Vanishing Truck Market Thu, 05 Jun 2008 04:13:31 GMT
Ford, Chrysler and General Motors have discovered $4-a-gallon gasoline and a housing slump to be formidable foes.

F.D.A. Reviews Arthritis Drugs for Links to Cancer Thu, 05 Jun 2008 04:26:30 GMT
Regulators are investigating whether a group of arthritis drugs made by Abbott Laboratories, Schering-Plough and other companies heighten the risk of cancer in youngsters.

Monsanto Seeks Big Increase in Crop Yields Thu, 05 Jun 2008 04:15:20 GMT
Monsanto pledged to develop seeds that would double the yields of corn, soybeans and cotton by 2030 and would require 30 percent less water, land and energy to grow.

More Cuts as United Grounds Its Low-Cost Carrier Thu, 05 Jun 2008 04:14:32 GMT
United will also retire aircraft and cut up to 1,100 more jobs, in an effort to lessen the impact of high fuel prices.

Advertising: Yahoo Tries to Move Past Takeover Status Thu, 05 Jun 2008 04:26:24 GMT
In the shadow of talks with Microsoft, Yahoo attempts to shape its own image by announcing new advertising deals with Wal-Mart Stores, CBS, and Havas Digital.

HarperCollins Chief Executive Resigns Thu, 05 Jun 2008 05:34:31 GMT
Jane Friedman is the second high-profile publishing executive to leave the top slot in the last month.

Lights, Camera, Tax Credit: Massachusetts Lures Filmmakers With Generous Rebate Thu, 05 Jun 2008 04:20:12 GMT
Filmmakers are being lured by a wave of new state tax credits as the battle to entice Hollywood to make films on location in those states heats up.

Slate’s Editor Will Head a New Unit at the Washington Post Co. Thu, 05 Jun 2008 05:35:22 GMT
Jacob Weisberg, the editor of Slate since 2002, will become chairman and editor in chief of the Slate Group, overseeing the current publications and new ventures.

South Korea to Fine Intel $25.4 Million for Trade Violations Thu, 05 Jun 2008 04:13:26 GMT
The regulator said that it was issuing the order because the semiconductor giant offered rebates to South Korean computer companies and undercut a competitor, A.M.D.

Productivity Rose at a Pace That Exceeded Expectations Thu, 05 Jun 2008 05:33:58 GMT
United States productivity grew at a slightly faster-than-expected 2.6 percent rate in the first quarter, and both the service sector and private employment posted surprising gains for May.

STOCKS & BONDS: Investors Fret Over Financial Sector Thu, 05 Jun 2008 05:40:41 GMT
Wall Street ended mixed as concerns about the financial sector eroded enthusiasm over a decline in oil prices and a report that suggested the service economy was still growing modestly.

$60 Billion Refinance Package for GMAC’s Mortgage Lender Thu, 05 Jun 2008 04:15:40 GMT
The financing package aimed to improve the liquidity of its struggling subsidiary, mortgage lender Residential Capital.

Smucker to Pay $3 Billion for Folgers Coffee Thu, 05 Jun 2008 03:59:03 GMT
The maker of jams and jellies announced agreed to buy the Folgers unit from Procter & Gamble for $2.95 billion in stock.

O.E.C.D. Cuts Its Growth Forecast Thu, 05 Jun 2008 03:59:21 GMT
Growth among the leading industrialized countries will slip this year and next, but a serious recession or inflation spiral should be avoided, the organization said.

Moody’s May Downgrade Ratings of MBIA and Ambac Units Thu, 05 Jun 2008 04:25:18 GMT
Moody’s said that it was likely to cut the top ratings of the bond insurance arms of MBIA and Ambac Financial, in a move that may cripple their ability to write new insurance.

Xilinx, a Chip Maker Pressed by a Rival, Will Cut 250 Jobs Thu, 05 Jun 2008 04:31:06 GMT
Xilinx makes chips used in communications network gear, consumer electronics and industrial equipment.

Penalties Sought From Utilities Over Untrimmed Trees Thu, 05 Jun 2008 01:15:38 GMT
Penalties for failing to trim overgrown trees near power lines were imposed on Baltimore Gas & Electric and MidAmerica Energy.

Walgreen to Settle Whistle-Blower Lawsuit Thu, 05 Jun 2008 01:12:01 GMT
Walgreen has to settle a federal whistle-blower lawsuit claiming that it overcharged Medicaid for prescriptions by switching from capsules to tablets, or vice versa, depending on which was more expensive.

Inquiry Opens Into Northern Rock Bailout Thu, 05 Jun 2008 04:00:36 GMT
Northern Rock may be getting government aid for longer than necessary and faces tough scrutiny from regulators, a European Commission document indicates.

Manager of Rogue Trader Calls Himself Unqualified Thu, 05 Jun 2008 04:00:47 GMT
The former boss of Jérôme Kerviel, the trader who cost Société Générale nearly $7.2 billion, suggested he was unqualified to perform his role as supervisor.

World Business Briefing: Canada: Union Protests G.M. Plant Closing Thu, 05 Jun 2008 05:13:59 GMT
A blockade forced General Motors of Canada to close its head office in Oshawa, Ontario.

World Business Briefing: Canada: Profit Rises at Bombardier Thu, 05 Jun 2008 05:17:33 GMT
Bombardier, the Canadian manufacturer, said quarterly profit nearly tripled on strong demand for its aircraft and rail equipment, sending its stock to a six-year high.

World Business Briefing: Russia: Revenue and Earnings Increase at Lukoil Thu, 05 Jun 2008 05:19:49 GMT
The Russian oil company Lukoil said its profit more than doubled in the first quarter to $3.16 billion, in line with analysts’ expectations, helped by strong oil prices.

World Business Briefing: Australia: Rise in First Quarter G.D.P. Thu, 05 Jun 2008 05:24:13 GMT
Australia’s economy grew more than expected in the first quarter, re-igniting concerns about inflation and increasing speculation about interest rate increases.

Philadelphia Will Try to Reduce Foreclosures Thu, 05 Jun 2008 04:20:03 GMT
Under the program, officials would negotiate with lenders in an effort to restructure certain loans so that borrowers can keep their property.

India and Malaysia Risk Voters’ Wrath by Raising Fuel Prices Thu, 05 Jun 2008 01:43:00 GMT
The increases are a highly unpopular measure that could further weaken both governments already made fragile by recent electoral setbacks.

Latino Immigrants Hit by Jobs Shortage Thu, 05 Jun 2008 04:26:11 GMT
The loss of construction jobs by immigrants from Latin America contributed to a spike in unemployment among all Latino workers to 6.5 percent, compared with 4.7 percent unemployment for non-Latino workers.

Revived Paper Mill Brings a Town Back With It Thu, 05 Jun 2008 06:25:37 GMT
A paper mill in a corner of the western Adirondacks is operating again after the efforts of two men.

TV Host Is in His Prime With a Morning Audience Thu, 05 Jun 2008 05:26:16 GMT
The three hours of hard-core political chat (often laced with humor) that Joe Scarborough and his co-hosts put on each day is unlike anything else on morning television.

State Of the Art: Cell Services Keep It Easy, and Free Thu, 05 Jun 2008 05:34:58 GMT
Several super-simple cellular services are so sweet and satisfying, you can’t believe they’re free.

Advertising: Parody and Innuendo Are Out, Artistry Is in for a Music Channel Wed, 04 Jun 2008 05:42:38 GMT
Cablevision is launching a $15 million rebranding campaign for its lesser-known cable music channel, Fuse.

No Films Appear Permanently Lost in Fire at Universal Lot Wed, 04 Jun 2008 05:37:58 GMT
The flames at Universal Studios last weekend may disrupt viewing plans for some film buffs in the coming weeks, though no movies appear to have been lost forever, studio executives said.

Show Under Pressure in Jolie Birth Story Wed, 04 Jun 2008 04:16:14 GMT
Five days after “Entertainment Tonight” reported that Angelina Jolie had given birth to twins, it is starting to look more and more as if the show made a serious mistake.

Long Island Publisher Buys the Riverdale Press Wed, 04 Jun 2008 03:02:31 GMT
After decades of rebuffing offers, the owners said they were selling The Riverdale Press in the Bronx while they still had time to pursue other careers.

In Hiring, Europeans Go Global Wed, 04 Jun 2008 06:13:28 GMT
As pressure grows on European businesses to go global, European companies are breaking down the glass ceiling that has long reserved their top spots for a local.

Union Takes Anti-Buyout Campaign Worldwide Wed, 04 Jun 2008 05:36:47 GMT
The Service Employees International Union, one of the country’s biggest unions, will call upon people to attend protests against buyout firms in July in 100 cities in 25 countries.

Impact of Earthquake on the Chinese Economy Is Seen as Minimal Wed, 04 Jun 2008 03:45:52 GMT
Only 1 percent of China’s population lives in the quake-affected area, where many residents are farmers whose share of the country’s economic output is even smaller.

Expertise Called Crucial to China Deals Wed, 04 Jun 2008 04:18:57 GMT
Expertise can be more important than cash when it comes to winning investments in China, managers of four of the world’s biggest buyout firms said.

Staples Raises Its Bid for a Dutch Rival Wed, 04 Jun 2008 04:20:05 GMT
Staples, the office supplies retailer, raised its hostile bid for a Dutch rival, Corporate Express, for a second time, hoping to overcome the Dutch company’s attempt to evade the takeover.

Brazil to Seek Sanctions Over U.S. Cotton Subsidies Wed, 04 Jun 2008 00:47:52 GMT
Brazil will seek sanctions against the United States after winning a World Trade Organization ruling on cotton subsidies, a top Brazilian trade official said Tuesday.

Evercore to Hire Bear Stearns’s Restructuring Chief Wed, 04 Jun 2008 23:55:17 +0000
Evercore Partners has hired Daniel A. Celentano, the former head of Bear Stearns’s restructuring practice, who will join the boutique investment bank’s own restructuring team. Mr. Celentano, formerly a senior managing director at Bear Stearns, will hold that position at Evercore. He will work with the team’s current heads, William Repko and David Ying. As part [...]

Sincerely Yours, Carl Wed, 04 Jun 2008 18:50:22 +0000
Today, Carl Icahn, the activist investor, sent the following letter to Yahoo’s chairman Roy Bostock. Dear Mr. Bostock: I have long been cynical about the effectiveness of many of the boards and CEOs in this country and as a result the inability of our companies to compete. I have constantly complained about how far CEOs and boards [...]

Verizon in Talks to Buy Alltel Wed, 04 Jun 2008 18:40:44 +0000
Updated: Verizon Communications is in talks to buy Alltel for about $27 billion including the assumption of debt, creating the nation’s largest cellphone service company, people briefed on the matter said Wednesday. It would represent a quick exit by Alltel’s owners, TPG and Goldman Sachs’s private equity arm. The two firms bought Alltel near the height [...]

How to Brew Up a Tax-Free Sale Wed, 04 Jun 2008 17:29:17 +0000
Years ago, there was a commercial in heavy rotation in which diners who thought they were drinking fresh-brewed coffee at the Tavern on the Green restaurant were actually quaffing Folgers instant coffee. On Wednesday, Folgers was part of a different kind of substitution: What looked on the surface like a plain-vanilla sale of the coffee business [...]

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