News 2008-06-27 Andanh.com

Microsoft Seeks Path Beyond the Gates Legacy Fri, 27 Jun 2008 05:44:31 GMT
Friday will be Bill Gates’s last day as a full-time worker at Microsoft, the software giant he founded with Paul Allen in 1975. He attended an event unveiling Windows 95 in August 1995.

Gloom Descends Over Wall Street Again Fri, 27 Jun 2008 06:00:53 GMT
After rallying for a few hopeful months this spring, the stock market is sinking to its lowest level in years.

Suit Claims UBS Misled Investors Fri, 27 Jun 2008 05:00:43 GMT
The top securities regulator in Massachusetts has sued UBS, saying that the firm misled clients when it sold them auction-rate securities.

A Company Computer and Questions About E-Mail Privacy Fri, 27 Jun 2008 05:46:35 GMT
Scott Sidell is suing his former employer, Structured Settlement Investments, saying it read his personal e-mail messages after he left.

New Flavors for Addresses on the Web Are on the Way Fri, 27 Jun 2008 05:22:44 GMT
Icann voted to permit the introduction of Web addresses ending in words like .paris and .sports, making the most sweeping changes to the network’s address system since its creation.

Post-Spitzer, a New Breed of Reformer Fri, 27 Jun 2008 05:23:11 GMT
Slowly, even a bit gently, Eliot Spitzer’s successor as the attorney general of New York, Andrew M. Cuomo, is shaking up the financial industry.

A Pep Talk at Chrysler, Hailing Its Hero of the ’80s Fri, 27 Jun 2008 05:25:30 GMT
For one afternoon at least, it was like the good old days again at Chrysler as Lee Iacocca, the celebrated former chairman, urged workers not to panic during tough times.

Another Yahoo Overhaul as It Tries to Right Itself Fri, 27 Jun 2008 05:24:29 GMT
Yahoo unveiled on Thursday its fourth reorganization in the last 18 months as the embattled company seeks to focus on independent strategy after rebuffing Microsoft’s takeover bid.

Google Tries Tighter Aim for Web Ads Fri, 27 Jun 2008 05:13:02 GMT
Google is for the first time testing ways to use some of its data about online behavior to aim ads at Web users.

Advertising: How Well Will Budweiser Travel? Fri, 27 Jun 2008 05:17:12 GMT
The Belgian brewer InBev wants to buy Anheuser-Busch for $46 billion, and promises it will make Budweiser the beer the world cracks open after a hard day’s work.

Europe Tells Airlines to Pay for Emissions Fri, 27 Jun 2008 05:18:22 GMT
The European Union reached a landmark agreement Thursday to cap emissions from aircraft, raising the stakes in a battle with the United States over how to regulate greenhouse gases.

Fortis Plans to Raise $12.5 Billion Fri, 27 Jun 2008 00:55:17 GMT
Citing tough market conditions, the Belgian-Dutch financial services group said that it would sell new shares and pay no interim dividend to shore up its finances.

Sony Sets a New Course to Bolster Its Electronics Fri, 27 Jun 2008 05:26:39 GMT
Sony said that it would make a strong push into networked electronics and video download services and aim for the top spot in LCD TVs.

Settling Inquiry, Anheuser Drops Caffeinated Brews Fri, 27 Jun 2008 05:15:09 GMT
Anheuser-Busch has agreed to stop selling caffeinated alcoholic drinks to settle complaints that it was misrepresenting the beverages and marketing them to minors.

Bits: Judge Ends Facebook's Feud With ConnectU Fri, 27 Jun 2008 03:49:22 GMT
A federal judge handed Facebook a final victory in its lawsuit with ConnectU over who originated the social networking service, ending a turbulent chapter for the company.

CBS to Appeal Military Court Ruling on Haditha Interview Fri, 27 Jun 2008 05:14:41 GMT
A First Amendment case has escalated between CBS News and a military court over a “60 Minutes” report about an attack at Haditha, Iraq.

Four Airlines Settle Antitrust Case Fri, 27 Jun 2008 05:20:07 GMT
Four international airlines have agreed to pay $504 million in fines to settle charges they conspired to fleece consumers by driving up cargo shipping prices.

Lennar, a Home Builder, Reports a Quarterly Loss of $120 Million Fri, 27 Jun 2008 05:27:01 GMT
The Lennar Corporation reported a bigger-than-expected quarterly net loss as deliveries and new orders tumbled.

Palm Swings to a Loss Fri, 27 Jun 2008 05:23:00 GMT
The smartphone maker Palm Inc. posted a fourth-quarter loss as strong sales of its inexpensive Centro phone were offset by slowing sales of older phones like the Treo.

Home Sales Rose Slightly in May Fri, 27 Jun 2008 05:26:05 GMT
The National Association of Realtors reported that existing-home sales rose 2 percent, although median home prices continued to fall.

London Exchange Plans New Trading System Fri, 27 Jun 2008 05:27:50 GMT
The new pan-European system, to be created by the London exchange in partnership with Lehmen Brothers, will be a platform for so-called dark liquidity pool trading.

New Store Costs Lead to Loss at Rite Aid Fri, 27 Jun 2008 00:59:46 GMT
The drugstore operator Rite Aid posted a quarterly loss as it continued to spend heavily to absorb more than 1,850 newly acquired stores.

Allegations in Russia Could Hurt BP Venture Fri, 27 Jun 2008 02:35:15 GMT
BP’s Russian partners said that a general shareholders’ meeting for a joint venture had been held in violation of Russian law.

Record Wool Price Set in Australia Fri, 27 Jun 2008 05:28:10 GMT
An Indian fabric maker paid nearly $250,000, a record price, for a 200-pound bale of exceptionally high grade wool at an auction Thursday in Australia.

Bits: A Genetic Quest for Better Chocolate Thu, 26 Jun 2008 16:58:16 GMT
Mars and I.B.M. are collaborating on a five-year project to sequence and analyze the entire cocoa genome.

Bits: Publicis Introduces Digital Media Initiative and Shakes Up Leadership Thu, 26 Jun 2008 23:23:13 GMT
The advertising holding company Publicis Groupe announced a major reshuffling, focusing on digital media, and new partnerships with online portals.

Bits: Intel Won’t Embrace Microsoft’s Vista Thu, 26 Jun 2008 06:11:06 GMT
Intel, Microsoft’s longtime partner in the development of the personal computer, has decided that it won’t upgrade most of the computers used by its employees to Microsoft’s Vista operating system.

Citing Need for Assessments, U.S. Freezes Solar Energy Projects Fri, 27 Jun 2008 01:52:22 GMT
The freeze has caused widespread concern in the industry, forcing fledgling solar companies to wait just as demand for alternative energy is accelerating.

Union Says It and Con Edison Are Far Apart on Contract Fri, 27 Jun 2008 05:47:05 GMT
The two sides appear to be making little headway in negotiations to renew their four-year contract before its expiration at 12:01 a.m. on Sunday.

High and Low Finance: When a Done Deal Unravels Fri, 27 Jun 2008 06:02:23 GMT
Hexion agreed to buy Huntsman Chemical for $10.6 billion, or $28 a share. But Hexion called it off, and the lawsuits started flying.

Advertising: A Spate of Ads Gives Vent to That Howard Beale Feeling Thu, 26 Jun 2008 06:28:40 GMT
A commercial for the Jackson Hewitt tax preparation service features a musician mad enough to smash his guitar.

NBC Settles With Family That Blamed a TV Investigation for a Man’s Suicide Thu, 26 Jun 2008 04:38:31 GMT
The family of Louis W. Conradt Jr. had filed a $105 million lawsuit against NBC, which showed Mr. Conradt on an episode of “To Catch a Predator” on its Dateline program.

Sentences Reduced for Adelphia Founder and Son Thu, 26 Jun 2008 04:45:04 GMT
The sentence of John Rigas, 83, was reduced to 12 years from 15 years, and the sentence of Timothy Rigas, 52, was reduced to 17 years from 20 years, prosecutors said.

National Briefing | Midwest: Illinois: Tribune Tower, for Sale? Thu, 26 Jun 2008 05:39:24 GMT
Tribune Company is exploring the possible sale of its headquarters on the Magnificent Mile in Chicago and buildings in Los Angeles.

Nissan and Others Add Factories in Emerging Markets Thu, 26 Jun 2008 04:26:30 GMT
Caparo, a parts maker, uses Japanese equipment to supply the carmakers that are making Chennai an automaking hub.

A Hedge Fund Struggle for CSX Is Left in Limbo Thu, 26 Jun 2008 12:33:33 GMT
This year, shareholders had to find their way from New Orleans to the site of the annual meeting, in a rail yard outside the city.

Barclays Bank Seeks $8.9 Billion Through a Share Issue Thu, 26 Jun 2008 04:43:18 GMT
The British bank joined rivals in tapping the wealth of Asian and Middle Eastern investors to strengthen its capital base in a sign of continuing fallout from the subprime mortgage turmoil.

Europe Plans New Push to Cut Mobile Charges Thu, 26 Jun 2008 04:49:19 GMT
The European Commission, having capped roaming fees on international mobile phone calls, plans a new move to lower cellphone charges that could result in even greater savings for European consumers.

South Korea Lifts Ban on U.S. Beef Thu, 26 Jun 2008 05:37:40 GMT
The government removed the last legal barrier keeping American beef imports from store shelves on Thursday, after weeks of demonstrations stoked by fears of mad cow disease.

Another W.T.O. Push for a New Trade Deal Thu, 26 Jun 2008 04:47:34 GMT
Pascal Lamy, the director general of the World Trade Organization, has called a meeting of ministers next month aimed at reaching a breakthrough deal on liberalizing global trade.

A Hedge Fund and Its Nonprofit Twin Thu, 26 Jun 2008 04:09:54 GMT
With the Children’s Investment Fund and it’s affiliated charity, Christopher Cooper-Hohn and his wife, Jamie, follow a simple economic formula: he makes money, and she gives it away.

Not Just Another Jelly Bean Thu, 26 Jun 2008 04:28:01 GMT
Jelly Bellies were once hard to find, but larger stores like Candylicious in Houston now carry the brand. Tino Ramirez, a part owner there, says people sometimes eat candy in response to stress.

Anheuser Dismisses InBev Offer as ‘Inadequate’ Thu, 26 Jun 2008 22:15:54 +0000
The battle for the maker of Budweiser has been joined. Anheuser-Busch formally rejected InBev’s $46.4 billion takeover offer late Thursday, calling it “financially inadequate and not in the best interests of shareholders.” The company said it has hired Goldman Sachs, Citigroup and Moelis & Company for financial advice and Skadden, Arps, Slate, Meagher & Flom for [...]

How Low Will Wall Street Staffing Levels Fall? Thu, 26 Jun 2008 20:36:57 +0000
From Eric Dash, a DealBook colleague: Brokerage firms have already announced tens of thousands of layoffs. But a little data crunching suggests that the corporate axe still has much farther to fall. Today, revenue per employee is near where it was in 2004. But headcount remains much higher. So how severe would job cuts have to be [...]

Icahn Proceeds With Yahoo Proxy Fight Thu, 26 Jun 2008 19:51:55 +0000
Carl C. Icahn isn’t backing down from his Yahoo fight. Even as the company embraces Google — a move that the billionaire investor at one point supported — Mr. Icahn on Thursday finally filed his bid to sweep out Yahoo’s board, despite skepticism that he will prevail. Mr. Icahn filed the statement on the same day that [...]

InBev’s Bid for Anheuser Turns Hostile Thu, 26 Jun 2008 18:54:11 +0000
InBev, the brewery based in Belgium, has begun a hostile bid to take over the Anheuser-Busch Companies. In a statement, InBev said Thursday that it had filed a lawsuit in Delaware Chancery Court seeking to confirm that Anheuser shareholders can remove without cause all 13 board members. The company said that it had started a $46.3 [...]

Some Questions About Those Commitment Letters Thu, 26 Jun 2008 16:41:52 +0000
The report today is that Anheuser Busch is going to reject the InBev offer. InBev will now have to decide whether it will launch a consent solicitation to remove all of the Anheuser directors. This can be done at any time. Alternatively, at the request of 25% of Anheuser’s shareholders a special meeting [...]

Analysis: In BG’s Bid, A Question of Value Thu, 26 Jun 2008 16:38:00 +0000
BG Group’s $13.6 billion hostile bid for Australia’s Origin Energy looks like another complicated energy deal chocked full of confusing jargon that only an engineer could decipher. But the dispute boils down to one simple question: What is the value of Origin’s gas reserves? Origin classifies its reserves in 4 tiers based on the probability of [...]

Scenes From the Battle in the Big Easy Thu, 26 Jun 2008 12:12:00 +0000
A battle over the future of one of the nation’s largest railroads occurred in New Orleans on Wednesday in a railyard just outside of town. For more than four hours, under a white tent surrounded by walls of freight cars, executives of the CSX Corporation tried to persuade shareholders to rebuff an attempt by two powerful [...]

Yahoo Takes the Gloves off in Fight With Icahn Thu, 26 Jun 2008 12:07:45 +0000
While Carl C. Icahn has been uncharacteristically mum on whether he plans to proceed with his proxy battle with Yahoo management, the Internet search giant’s top brass has apparently decided to try to cut him off at the pass. In a new letter to its shareholders — once again explaining why a search advertising deal with [...]

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