News 2008-07-03 Andanh.com

Fund Manager Who Faked His Suicide Surrenders Thu, 03 Jul 2008 05:44:36 GMT
Samuel Israel III is escorted by federal law enforcement officials out of the U.S. District Court in Springfield, Mass., on Wednesday hours after surrendering.

The Struggles of Detroit Ensnare Its Workers Thu, 03 Jul 2008 06:30:03 GMT
A Chrysler plant near St. Louis is expecting layoffs.

Big Job Cuts Announced at American Thu, 03 Jul 2008 03:46:01 GMT
American Airlines said it expects to cut nearly 7,000 jobs, about 8 percent of its work force, by the end of 2008, as it reduces flights and grounds aircraft due to high fuel prices.

Price of Oil Rises Again, Rattling the Markets Thu, 03 Jul 2008 05:13:08 GMT
A research group estimates that Americans are spending $1.6 billion a day on gasoline, which would make July the first month in which the American gasoline bill would top $50 billion.

A Lucrative Deal for Limbaugh Thu, 03 Jul 2008 06:13:41 GMT
In an interview with The New York Times Magazine, the talk show radio host said he would receive a $100 million signing bonus and about $38 million a year for eight years under the new contract.

Advertising: Kozy Shack in Snack Lineup for the Mets Thu, 03 Jul 2008 05:17:40 GMT
Kozy Shack products are “the official pudding of the New York Mets” as this electronic sign at Shea Stadium declares.

L.A. Times Newsroom to Shrink by 150 Jobs Thu, 03 Jul 2008 04:03:24 GMT
The decision to eliminate more than one-sixth of the newsroom staff and publish 15 percent fewer pages is the deepest of a series of cuts at the Tribune Company as it tries to stay afloat.

European Plan Would Expand Health Care Access Within the Bloc Thu, 03 Jul 2008 04:53:54 GMT
European Union residents would be able to receive most health care treatment anywhere in the 27-nation bloc without prior authorization under a proposal published on Wednesday.

In the Hunt: Early Retirees in New Ventures, Mostly for Fun Thu, 03 Jul 2008 03:55:17 GMT
Carl Boast, who was making a hefty salary as a neuroscientist, started his own nature photography business called Peaceable Kingdom Photos.

Scruggs’s Son Sentenced in Bribery Case Thu, 03 Jul 2008 06:07:35 GMT
Zach Scruggs, son of the Mississippi lawyer Richard F. Scruggs, was sentenced to 14 months in prison for his part in a scheme to bribe a judge.

Paulson Calls for Stronger Regulators Thu, 03 Jul 2008 03:49:19 GMT
Henry Paulson Jr., the U.S. Treasury secretary, at the Royal Society of Arts in London on Wednesday.

Publicis to Buy Kekst Public Relations Firm Thu, 03 Jul 2008 04:19:19 GMT
Terms of the deal were not disclosed, but people briefed on it said it was worth as much as $150 million.

UnitedHealth Settles Options Suit and Lowers Outlook Thu, 03 Jul 2008 04:00:04 GMT
The health insurer lowered its 2008 profit outlook on Wednesday, and it announced an agreement to pay $895 million to settle a class-action lawsuit.

Georgia Bars Insurance Firm Over Violations Thu, 03 Jul 2008 03:49:27 GMT
Regulators in the state say Trans World Assurance violated rules adopted in 2007 to prevent the sale of misleading or unsuitable life insurance policies to military personnel.

Aiming to Sell the World on Fitness Thu, 03 Jul 2008 05:21:55 GMT
Exercise machines being assembled at Technogym’s main plant in Gambettola.

In Turnabout, Russia to Allow Permits for BP Workers Thu, 03 Jul 2008 03:59:45 GMT
The decision to expedite work permits for the six staff members of a BP joint venture was a sign of apparent backpedaling by the Russian government.

Charges Against Ex-A.I.G. Executive Dropped Thu, 03 Jul 2008 00:54:41 GMT
Federal prosecutors dropped criminal charges against David B. Pinkerton in connection with a supposed scheme to bribe Azerbaijan officials.

Steelworkers Merge With British Union Thu, 03 Jul 2008 03:23:22 GMT
The United Steelworkers signed a merger agreement with the largest labor organization in Britain and Ireland to create what union leaders said would be the world’s first global union.

Factory Orders Up 0.6% Thu, 03 Jul 2008 04:07:19 GMT
Orders to American factories grew by the smallest amount in three months in May, reflecting slumping demand for autos, heavy machinery and steel.

Phone Smart: Those Cellphone Termination Fees Seem to Be on the Way Out Thu, 03 Jul 2008 03:56:00 GMT

World Business Briefing | Europe: The Netherlands: ABN Amro Units Sold Thu, 03 Jul 2008 05:36:02 GMT
The Belgian-Dutch financial services group Fortis will sell about 10 percent of ABN Amro’s Dutch operations to Deutsche Bank for 709 million euros ($1.12 billion).

World Business Briefing | Europe: Germany: Deutsche Bank Expects Profit Thu, 03 Jul 2008 04:15:33 GMT
Deutsche Bank says it expects to have a profitable second-quarter despite market uncertainty and the wavering global economy when its results are reported July 31.

World Business Briefing | Europe: France: Ex-Airbus Executive Is Charged Thu, 03 Jul 2008 04:16:09 GMT
French authorities filed preliminary charges against a former chief executive of Airbus, Gustav Humbert, in an investigation into reported insider trading.

World Briefing | Australia/New Zealand: Australia: Retail Sales Rose in May Thu, 03 Jul 2008 04:17:02 GMT
Australian retail sales rose in May at the fastest rate in six months. Sales increased 0.7 percent from April, the Bureau of Statistics said.

World Briefing | Europe: Britain: Sales Drop for Big Retailer Thu, 03 Jul 2008 04:17:41 GMT
The Marks & Spencer Group said sales had dropped the most since 2005 and ousted Steven Esom, its top food executive, after his unit had the worst quarter in at least a decade.

State of the Art: Digital Pens to Write on Any Paper Thu, 03 Jul 2008 03:44:13 GMT

The Times Wins 3 Loeb Awards for Reporting Thu, 03 Jul 2008 03:49:40 GMT
The New York Times won honors for breaking news, commentary and in the large newspaper category.

DealBook: Publicis to Buy Public Relations Firm Kekst Wed, 02 Jul 2008 18:58:24 GMT
Kekst and Company, based in New York, has been behind the scenes of some of the largest and most contested takeovers in history.

Marks & Spencer Shares Dive on Lower U.K. Sales Wed, 02 Jul 2008 13:38:38 GMT
The British food and clothing retailer reported that domestic market sales fell 5.3 percent in the first quarter as the economy slows, sending shares sharply lower.

Lehman to Give Employees Midyear Stock Bonus Wed, 02 Jul 2008 22:45:06 +0000
Lehman Brothers is paying more of employees’ compensation in stock this year, the company said in a memo sent to employees on Wednesday. The company also granted employees an equity award on July 1, which signaled to some investors that the company was less likely to sell itself at a level below its current share price. [...]

Waiting for InBev’s Next Move Wed, 02 Jul 2008 20:56:42 +0000
As the Fourth of July draws closer, news from the Anheuser-Busch battle has drawn to a crawl. The battle lines have been drawn, with InBev making noise about going hostile and Anheuser arguing that it can cut more costs and make more profits. CNBC’s David Faber outlines the current state of play in the Budweiser fight. [...]

Paulson Calls for Overhaul of Bank Regulations Wed, 02 Jul 2008 20:01:24 +0000
The United States must build a tougher regulatory system that can allow financial institutions to fail without causing wider economic turbulence, Treasury Secretary Henry M. Paulson said Wednesday in London. Both Britain and the United States must overhaul the outdated methods of their financial watchdogs to provide better advance warning of looming troubles in world markets, [...]

G.M. Shares Plummet as Merrill Says Bankruptcy Is Possible Wed, 02 Jul 2008 19:23:52 +0000
For nearly any company, mentioning the dread “B” word sends shivers up investors spines, and almost assuredly leads to a big drop in its stock. On Wednesday, General Motors suffered just that, with its shares down more than 13 percent by mid-afternoon. In this case, the possibility of bankruptcy was raised by Merrill Lynch analyst John Murphy, [...]

Huntsman’s Rope-a-Dope Strategy Wed, 02 Jul 2008 18:59:02 +0000
Early Tuesday evening, Huntsman filed its answer and counter-claims in Delaware Chancery Court. The answer and counter-claim is plain vanilla and I did not see any surprises. The seven Young Conaway Stargatt & Taylor lawyers listed on the answer as Huntsman’s Delaware counsel have no doubt been pulling a few late nights. Huntsman asserts in the [...]

The Slow Going of Digital Voting Wed, 02 Jul 2008 17:54:30 +0000
CSX has earned some brickbats over the past week for its unusual shareholder meeting last Wednesday. The problem, critics contend, is that the large railroad operator is taking its sweet time to certify the results of the stockholder vote on its board of directors. Already, two activist hedge funds are claiming to have won four [...]

Publicis to Buy Public Relations Firm Kekst Wed, 02 Jul 2008 15:45:33 +0000
Publicis Groupe, the large advertising conglomerate, said it agreed to acquire Kekst and Company, a public relations firm based in New York that has been behind the scenes of some of the largest and most contested takeovers in history. Founded by Gershon Kekst in 1970, Kekst and Company has long been the adviser to Kohlberg [...]

India Finds No Security Threat in BlackBerry Service Wed, 02 Jul 2008 15:34:40 +0000
Worry not, BlackBerry addicts in India: The country’s telecom ministry reiterated Wednesday that the government has no plans to shut down Research in Motion’s wildly popular e-mail service because of security concerns. Indian security agencies have said that BlackBerrys could be used by militants to send untraceable, un-interceptible e-mail, Reuters said. But Siddhartha Behura, the telecom [...]

Can ‘Napster for Stocks’ Break the I.P.O. Drought? Wed, 02 Jul 2008 15:26:57 +0000
Institutional investors use Liquidnet every trading day to move big blocks of stock. But will they jump at the chance of buying shares of the company itself? Liquidnet, which one money manager once referred to as “Napster for stocks,” filed Wednesday to raise as much as $500 million in an initial public offering. The move by [...]

New Venture for Ex-Bear Executive (and Blogger) Wed, 02 Jul 2008 14:42:10 +0000
Richard Marin, perhaps the most famous blogger at the firm that used to be Bear Stearns, is back in business. A year ago, Mr. Marin was the head of the Bear unit that oversaw two troubled — and now bankrupt — hedge funds. But he got an additional dose of fame when his personal blog, “Whim [...]

On Campus, Liberal Professors Retire Thu, 03 Jul 2008 05:59:00 GMT
Sara Goldrick-Rab and Michael Olneck, both at the University of Wisconsin, represent contrasting generations of professors, as younger faculty members tend to be more politically moderate.

Personal Best: To Beat the Heat, Learn to Sweat It Out Thu, 03 Jul 2008 02:35:59 GMT

Assisted Suicide of Healthy 79-Year-Old Renews German Debate on Right to Die Thu, 03 Jul 2008 06:27:05 GMT
Roger Kusch on Monday in Hamburg, Germany, with a video of Bettina Schardt, 79, whom he helped to commit suicide.

Skin Deep: A Spa for Those Women Concerned About ‘Pelvic Fitness’ Thu, 03 Jul 2008 02:42:26 GMT

E. Coli Illnesses Prompt Beef Recall Thu, 03 Jul 2008 05:34:19 GMT
The Agriculture Department is warning that the beef supplied by a Nebraska company may be responsible for at least 40 illnesses.

F.D.A. Panel Urges More Testing for Diabetes Drugs Thu, 03 Jul 2008 06:19:45 GMT
Diabetes drugs would be subject to more stringent safety standards under recommendations made Wednesday by a government panel.

Salmonella Probe Adds Foods Served With Tomatoes Wed, 02 Jul 2008 18:55:04 GMT
The government is about to start testing numerous other types of fresh produce in the hunt for the source of the nation’s record salmonella outbreak.

Committee Questions State Dept. Role in Iraq Oil Deal Thu, 03 Jul 2008 05:53:05 GMT
Bush administration officials knew that an oil company with close ties to President Bush planned to sign an oil deal with the Kurdistan government, counter to American policy.

Colombia Plucks Hostages From Rebels’ Grasp Thu, 03 Jul 2008 06:02:33 GMT
Ingrid Betancourt, right, a hostage of Colombian rebels, with her mother in Bogotá on Wednesday after she was freed.

Iraq Hints at Delay in U.S. Security Deal Thu, 03 Jul 2008 03:28:08 GMT
Hoshyar Zebari, Iraq’s foreign minister, taking questions during a news conference Wednesday.

U.S. Is in No Shape to Give Advice, Medvedev Says Thu, 03 Jul 2008 04:40:37 GMT
President Dmitri A. Medvedev told reporters Russia deserved a larger role in the global economy.

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