News 2008-07-25 Andanh.com

Griping Online? Comcast Hears You and Talks Back Fri, 25 Jul 2008 07:05:07 GMT
Some customers like the company’s responses to online criticism; others see an eerie version of “Big Brother.”

Blacks in Congress Split Over Menthol Cigarettes Fri, 25 Jul 2008 05:03:08 GMT
Carolyn Cheeks Kilpatrick of the Congressional Black Caucus.

Your Money: Housing Bill Has Something for Nearly Everyone Fri, 25 Jul 2008 05:10:14 GMT
If you think the housing bailout bill will benefit only troubled homeowners, you may miss out on a windfall.

Sunlight on a ‘Dark Market’ Fri, 25 Jul 2008 05:05:41 GMT
Jeffrey C. Sprecher, the founder of the IntercontinentalExchange, which has faced heated criticism.

At Ford, End of a Big-Vehicle Era Takes a Toll Fri, 25 Jul 2008 05:52:36 GMT
Ford plans to shift its product mix away from trucks and toward smaller, fuel-efficient cars.

Japanese Stocks Drop on Overnight U.S. Losses Fri, 25 Jul 2008 10:26:15 GMT
Japanese stocks fell sharply as Wall Street’s overnight plunge renewed lingering concerns about the U.S. economy.

At Troubled UBS, a Homecoming of Sorts Fri, 25 Jul 2008 05:19:38 GMT
Luqman Arnold in London in 2004. He left UBS several years ago but has acquired a 2.5 percent stake in it.

Southwest Turns a Profit for 69th Straight Quarter Fri, 25 Jul 2008 05:11:50 GMT
Southwest Airlines, the largest U.S. low-fare airline, saw profits rise and beat Wall Street expectations by relying on hedge arrangements that lowered fuel costs.

Denied Visa, Chief of BP Joint Venture Is Forced to Leave Russia Fri, 25 Jul 2008 05:14:38 GMT
Robert Dudley, chief executive of the joint venture TNK-BP, says he will temporarily run the company from outside Russia.

Europe Fails to Endorse Milk and Meat From Clones Fri, 25 Jul 2008 05:13:57 GMT
Europe’s Food Safety Authority pulled back from giving milk and meat from cloned animals a clean bill of health, reducing the chances such products will reach stores soon.

Warnings From Daimler and Renault Fri, 25 Jul 2008 05:53:08 GMT
In another sign of stress for automakers, Daimler and Renault reduced their outlooks in the face of higher steel and oil prices and an economic slowdown.

Stocks & Bonds: Home Sales and Bank Worries Send Stocks Down Fri, 25 Jul 2008 05:09:03 GMT
Disappointing June home sales and new worries about banks dragged the Dow Jones industrial average down 283.10 points, or 2.43 percent, its worst loss in a month.

Advertising: Microsoft Seeks an Ad Friend in Facebook Fri, 25 Jul 2008 05:16:47 GMT
Steven A. Ballmer, chief of Microsoft, which has a deal with Facebook.

Senate Asks 9 Insurers to Furnish Information Fri, 25 Jul 2008 05:14:54 GMT
The Senate is investigating whether insurance companies are forcing able-bodied people to apply for Social Security disability benefits.

Change in Arbitration Panels Will Allow Investors Only Fri, 25 Jul 2008 05:12:21 GMT
Investors who think they have been wronged by brokers will be able to have their cases heard by panels consisting only of their peers, with no industry participants.

Fed and S.E.C. Push for Tougher Bank Rules Fri, 25 Jul 2008 08:31:22 GMT
Christopher Cox, the S.E.C. chairman, left, and the New York Federal Reserve Bank president, Timothy F. Geithner, testified.

Weak Ad Sales Trim Profit at McClatchy and Scripps Fri, 25 Jul 2008 05:15:54 GMT
Earnings at the newspaper publisher and media company fell more than 40 percent in the second quarter on sharp declines in newspaper revenue.

Restructuring Costs Reduce Xerox Earnings Fri, 25 Jul 2008 06:25:17 GMT
Second-quarter profit at Xerox skidded 19 percent on reorganization charges, but the company matched Wall Street’s forecast.

Missile Sales Help Profit at Raytheon Fri, 25 Jul 2008 05:15:29 GMT
The military contractor said it earned $426 million, or $1 a share, in the quarter, down from $1.33 billion, or $2.97 a share, in the year-earlier period.

Dow Chemical Reports Profit Decline Fri, 25 Jul 2008 06:22:47 GMT
The chemical maker reported net income of $762 million, or 81 cents a share. That was down from a year-ago profit of $1.04 billion, or $1.07 a share.

Profits Rise Slightly at 3M Fri, 25 Jul 2008 06:22:38 GMT
In the quarter, the company earned $945 million, or $1.33 a share, compared with $917 million, or $1.25 a share, in the period a year earlier.

Earnings Decline 10% at Kimberly-Clark Fri, 25 Jul 2008 05:12:08 GMT
The company’s chief executive, Thomas J. Falk, said that previous price increases to offset higher energy and input costs had not kept up with the rise in commodities.

Profits Up, Drug Makers Pledge to Cut More Jobs Fri, 25 Jul 2008 05:17:01 GMT
On a day when the major stock indexes were down significantly, the drug makers’ shares got little traction despite their fairly strong reports.

Genentech Weighs Takeover Fri, 25 Jul 2008 05:16:05 GMT
Genentech said it had formed a special committee, consisting of its three independent board members, to consider a takeover bid from Roche Holding.

Books of The Times: Prowling in the Land of Unequal Opportunity Fri, 25 Jul 2008 04:09:18 GMT
Barbara Ehrenreich

Economic Growth Rate in New York Slows Down Fri, 25 Jul 2008 06:11:24 GMT
The growth of the city economy slowed to a crawl at the start of this year, falling below the national rate, according to a comptroller’s report.

Report on Shriners Raises Question of Wrongdoing Fri, 25 Jul 2008 05:46:07 GMT
Dr. Bernard J. Lemieux

Hyundai Motor Profit Slips as Sales Rise Fri, 25 Jul 2008 03:11:53 GMT
SEOUL, South Korea (AP) -- South Korea's Hyundai Motor said Thursday that its second-quarter net profit declined nearly 11 percent despite higher sales, and vowed to fight high oil prices by aggressively exporting more fuel efficient vehicles.

Occidental Petroleum Profit Rises Fri, 25 Jul 2008 03:12:02 GMT
HOUSTON (AP) -- Oil producer Occidental Petroleum Corp. said Thursday its second-quarter profit rose 62 percent, as record crude prices and higher production boosted results.

National City Posts $1.8 Billion Loss Fri, 25 Jul 2008 03:12:10 GMT
National City, a large regional bank, posted $1.76 billion in losses, hurt by soaring losses on mortgage and construction loans and a write-down for acquisitions.

Bristol Profit Beats Forecasts, Helped by Plavix Fri, 25 Jul 2008 03:12:59 GMT
The company earned $764 million, or 38 cents per share, compared with $706 million, or 36 cents per share, in the year-earlier period.

Union Pacific Profit Rises, Beats Estimates Fri, 25 Jul 2008 03:13:17 GMT
Union Pacific, the largest U.S. railroad company reported better-than-expected profit as strong pricing offset rising fuel costs and lower freight volumes.

RadioShack Profit Falls, Sales Rise Fri, 25 Jul 2008 03:13:09 GMT
RadioShack reported higher-than-expected profit on a surprise increase in sales, but the electronics retailer said the economic environment continues to be challenging.

Sidney Craig, 76, a Founder of Jenny Craig, Dies Fri, 25 Jul 2008 07:53:39 GMT
Sidney and Genevieve Craig cheering on one of their racehorses in 1992. They established a chain of weight-loss centers.

Merger of XM and Sirius a Step Closer to Approval Fri, 25 Jul 2008 06:22:29 GMT
The F.C.C was set to approve a merger between XM and Sirius and end a nearly 18-month review of a deal that would essentially create a monopoly in satellite radio.

Chief of BP Venture Forced to Leave Russia Fri, 25 Jul 2008 11:56:22 +0000
BP, the British energy giant, moved closer to losing control of its joint venture in Russia after the operation’s chief executive was forced to leave the country Thursday because he could not get a work visa. The development is the latest twist in a rising nationalism that is shutting Western oil companies out of energy-rich regions [...]

Morgan Stanley Takes Aim at Rivals’ Brokers Fri, 25 Jul 2008 11:53:10 +0000
Morgan Stanley said on Thursday it is poaching brokers from Merrill Lynch and other rivals, accelerating the expansion of its global wealth management business during a period of turbulence on Wall Street. Morgan Stanley spokesman Jim Wiggins declined to comment on a CNBC report that said the firm was targeting Merrill, which is struggling with [...]

Bank Worries Send Stocks Down Fri, 25 Jul 2008 11:46:28 +0000
A sharp drop in June home sales started the stock market off on a sour note Thursday and new worries about banks sent shares into a slide. Financial shares such as Citigroup and Lehman Brothers plunged, snapping a six-session winning streak, as profit-taking dragged the Dow Jones industrial average down 283.10 points, or 2.43 percent, to [...]

South Korea to Review HSBC’s Bank Bid Fri, 25 Jul 2008 11:40:56 +0000
South Korea’s financial regulator said Friday it might decide in September whether to approve HSBC Holdings‘ bid to buy Korea Exchange Bank, suggesting some progress in the long-running takeover saga. Korea’s Financial Services Commission said Thursday that it had started consulting “relevant ministries” about the case, but cautioned that it could not green-light the deal until [...]

Harbinger Seeks to Merge Satellite Groups Fri, 25 Jul 2008 11:32:24 +0000
Harbinger Capital plans to bid for British satellite communication firm Inmarsat, pending regulatory approval, and combine the group with its SkyTerra business, it said on Friday. The hedge fund, which already owns 28 percent of Inmarsat and, together with an affiliate, 48 percent of satellite communications group SkyTerra, said it was likely to take 12 [...]

Banks Borrow Record Sum from Fed Window Fri, 25 Jul 2008 11:29:38 +0000
U.S. banks’ direct primary credit borrowing from the Federal Reserve rose to the highest level ever in the latest week, reflecting the growing need of the banking sector to rely on the central bank for cheap funding, analysts said. Banks primary credit borrowings averaged $16.38 billion per day in the latest week, a record high and [...]

Private Equity Firms Said to Circle BankUnited Fri, 25 Jul 2008 11:28:20 +0000
Two private-equity firms are considering investments in BankUnited Financial, which is weighed down by a huge portfolio of adjustable-rate mortgages, The Wall Street Journal reported. MatlinPatterson Global Advisers and Kelso & Co. are reportedly conducting due diligence on BankUnited and consulting regulators. MatlinPatterson, which rescued mortgage lender Thornburg Mortgage from the brink of bankruptcy earlier this [...]

Roadrunner Transporation to Tap Public Markets Fri, 25 Jul 2008 11:25:23 +0000
The private equity owners of Roadrunner Transportation Services are seeking to cash out of their investment in the trucking and logistics company via an initial public offering. The company, which filed for an I.P.O. on Thursday, didn’t say how many shares it planned to sell or in what price range. Roadrunner is owned by [...]

Clear Channel Shareholders Approve Buyout Deal Fri, 25 Jul 2008 11:22:15 +0000
Clear Channel Communications shareholders on Thursday approved a $17.9 billion takeover by private equity funds Thomas H. Lee Partners and Bain Capital, ending a 20-month effort to take the radio and billboard operator private. Clear Channel said that about 97 percent of the shares voted were cast in favor of the deal. The parties plan to [...]

Math Scores Show No Gap for Girls, Study Finds Fri, 25 Jul 2008 05:53:50 GMT
A study paid for by the National Science Foundation has found that girls perform as well as boys on standardized math tests.

Richard Wade, 87, Urban Historian, Dies Fri, 25 Jul 2008 06:30:11 GMT
Richard C. Wade in 1985.

Howard L. Bachrach, 88, Early Polio Researcher, Is Dead Fri, 25 Jul 2008 09:43:25 GMT
Mr. Bachrach was a biochemist who helped produce an early vaccine to prevent foot and mouth disease in livestock and did important early research on the polio virus.

Eugene A. Foster, 81, Dies; Linked Jefferson to Slave Fri, 25 Jul 2008 07:36:58 GMT
Eugene A. Foster

National Briefing | West: California: Girl’s Death Prompts Fine Fri, 25 Jul 2008 05:50:12 GMT
A company that hired a pregnant teenager who died of heat stroke this spring after laboring in a Central Valley vineyard received the highest fine ever issued to a California farming operation.

World Briefing | Asia: Pakistan: New Case of Fast-Moving Polio Is Found Fri, 25 Jul 2008 05:36:39 GMT
The confirmation that the strain of polio was found in an 8-month-old boy in the southern port city of Karachi brings the total cases in the country this year to 18.

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