News 2008-07-31 Andanh.com

A Hidden Toll on Employment: Cut to Part Time Thu, 31 Jul 2008 07:24:49 GMT
Ali and Ron Temple lost more than half their monthly income when Mr. Temple’s full-time job was scaled back.

An Unexpected Profit for Motorola Thu, 31 Jul 2008 11:27:28 GMT
Motorola’s revenue beat Wall St estimates on phone sales that were slightly higher than analysts had expected.

Sale of Sundance Channel Lifts CBS in Quarter Thu, 31 Jul 2008 11:43:34 GMT
The company’s second quarter earnings topped analysts’ estimates, on gains from asset sales amid a weak advertising market.

Terrible Timing for a Hotel Boom Thu, 31 Jul 2008 06:26:31 GMT
The Trump International Hotel under construction in Honolulu.

Shell Reports a Profit Jump Despite Reduced Production Thu, 31 Jul 2008 09:27:06 GMT
Royal Dutch Shell, Europe’s largest oil company, reported a 33 percent increase in second-quarter profit, helped by a higher oil price.

House Votes to Regulate Tobacco as a Drug Thu, 31 Jul 2008 06:41:09 GMT
The House overwhelmingly approved legislation that would give the F.D.A. new power to regulate tobacco products.

Delta Redoes Mileage Plan for Its Fliers Thu, 31 Jul 2008 05:34:44 GMT
Delta Air Lines introduced a three-tier system that will require as many as 60,000 miles for a last-minute domestic coach ticket.

Strong Economy Propels Brazil to World Stage Thu, 31 Jul 2008 06:24:43 GMT
Recent oil discoveries off the coast of Rio de Janeiro State have led to a construction boom in the port town of Angra dos Reis.

Advertising: A Jeweler Joins Its Friends on MySpace Thu, 31 Jul 2008 07:15:08 GMT
Cartier is one of the first luxury brands to hang out its shingle on a social networking site.

Law Firm Seeks Publicity for Société Générale Class-Action Suit Thu, 31 Jul 2008 03:48:03 GMT
American lawyers seeking to bring a class-action lawsuit against the French bank Société Générale over its billions of euros in unexpected losses came to France on Wednesday looking for publicity, and plaintiffs.

Accounting Board Delays an Asset Rule Thu, 31 Jul 2008 03:45:52 GMT
The Financial Accounting Standards Board voted unanimously to delay a new accounting rule aimed at forcing banks to put more assets on their balance sheets rather than hide them.

Connecticut Accuses 3 Ratings Firms of Slighting Government Debt Thu, 31 Jul 2008 06:45:29 GMT
The attorney general of Connecticut accused the nation’s three big ratings firms of systematically underrating debt issued by local and state governments.

Amid Salmonella Case, Food Industry Seems Set to Back Greater Regulation Thu, 31 Jul 2008 04:38:52 GMT
Industry leaders are questioning whether the weak produce-tracking rules that many of them once championed are more a curse than a blessing, several food safety experts say.

A Dance of Environment and Economics in the Everglades Thu, 31 Jul 2008 06:26:46 GMT
The biomass power plant that is part of the Florida Crystals sugar refinery could play a pivotal role in a plan to revive water flow in the Everglades.

UBS to Pay Massachusetts $1 Million in Settlement Thu, 31 Jul 2008 03:46:48 GMT
The settlement is part of an agreement to settle the state’s investigation into the bank’s sale of auction-rate securities to 17 cities and towns.

House Passes Ban on Lead in Toys Thu, 31 Jul 2008 03:48:58 GMT
The House voted overwhelmingly to ban lead and some dangerous chemicals from toys and other items that could end up in children’s mouths.

Convictions of Supervisors at Stock Exchange Overturned Thu, 31 Jul 2008 03:54:32 GMT
A federal appeals court overturned the securities fraud convictions of two of the floor supervisors, likely to be the final blow to the ill-fated prosecution of 15 New York Stock Exchange specialists.

German Court Overturns Smoking Bans in 2 States Thu, 31 Jul 2008 04:22:06 GMT
The Federal Constitutional Court in Karlsruhe found that regional smoking bans discriminated against small one-room bars.

$70 Million Effort Seeks New Safety Net for Workers Thu, 31 Jul 2008 05:51:42 GMT
The Rockefeller Foundation has begun to focus on globalization’s effects closer to home, specifically on the way it has increased economic insecurity for many American workers.

Front Row: In a Divisive Campaign, Purple Becomes the New Neutral Thu, 31 Jul 2008 02:49:19 GMT

Shorts Crack the Code Thu, 31 Jul 2008 06:55:31 GMT

Clay T. Whitehead, Guide of Policy That Helped Cable TV, Is Dead at 69 Thu, 31 Jul 2008 05:09:45 GMT
Mr. Whitehead laid the groundwork for Open Skies, the policy that led to the creation of the domestic satellite system that brought cable television into millions of American homes.

State Of the Art: Earpiece in Place? Listen Up Thu, 31 Jul 2008 03:17:09 GMT

AstraZeneca Lifts 2008 Outlook as Q2 Tops Forecast Thu, 31 Jul 2008 10:12:45 GMT
Drugmaker AstraZeneca Plc lifted its full-year earnings forecast as second-quarter results came in ahead of expectations.

BASF’s 2nd Quarter Operating Profit Beats Forecast Thu, 31 Jul 2008 06:20:21 GMT
BASF posted a 19 percent rise in second-quarter operating profit, thanks to rising oil and gas prices and strong demand for its agrochemicals products.

Digital Voice Business Lifts Profit at Comcast Thu, 31 Jul 2008 05:05:57 GMT
The nation’s largest cable operator reported an 8 percent profit increase in the second quarter and took market share from rival phone companies.

Avon Profit Jumps on Strong Global Sales Thu, 31 Jul 2008 03:48:38 GMT
Avon Products said that quarterly profit more than doubled, beating estimates and sending its shares to a three-year high.

Lazard’s Profit Rose 5% in Second Quarter Thu, 31 Jul 2008 03:41:08 GMT
Lazard reported a 5 percent gain in profit for the second quarter, as its core advisory business buoyed the firm despite the turmoil rocking the markets.

Cuban Said to Lead Narrowed List of Cubs Bidders Thu, 31 Jul 2008 11:50:34 +0000
Mark Cuban is currently the favored bidder in Tribune’s auction for the Chicago Cubs, tabling $1.3 billion offer for the storied sports team, according to The Deal. The race to own the franchise has reportedly been narrowed down to five suitors, including a group led by Clarion Capital Partners managing director Mark Utay, Incapital chief executive [...]

CrowdFusion Said to Nab $3 Million Thu, 31 Jul 2008 11:46:52 +0000
CrowdFusion, a web publishing start-up founded by former Weblogs chief, Brian Alvey, has landed about $3 million in its first round of funding, according to Paid.Content.org. The new round was reportedly led by Velocity Interactive Group, Greycroft Partners and Marc Andreessen. Go to Article from PaidContent.org »

Google May Launch Venture Capital Arm, Report Says Thu, 31 Jul 2008 11:46:33 +0000
Google, which in its time has ponied up cash for various start-ups, is considering making it official. The Internet search giant is mulling a move to hang its own venture capital shingle, according to The Wall Street Journal. David Drummond, Google’s senior vice president of corporate development and chief legal officer, would lead the investment business, The [...]

McCormick to Spin Off Seasonig Unit Thu, 31 Jul 2008 11:43:48 +0000
McCormick & Company, a leading seasonings retailer, has agreed to spin off Season-All line as part of a deal to gain antitrust approval for its $605 million deal to buy Lawry’s Seasoned Salt from Unilever. The Federal Trade Commission said that McCormick agreed to spin off unit to Morton International Morton will pay $15 million for [...]

Bill Miller Appears Wary on Financial Stocks Thu, 31 Jul 2008 11:38:19 +0000
Bill Miller, the Legg Mason stock picker, said on Wednesday financial stocks appear to have hit a “capitulation low” in mid-July, but held off endorsing them for investors. Mr. Miller, whose main Value Trust fund has rebounded in July but is still the worst performer among peers this year, said the “frenzy” over the capital [...]

Freedom Bank Offered Private Equity Infusion Thu, 31 Jul 2008 11:37:26 +0000
Community Bank Investors of America, a private equity fund, has agreed to supply $5 million to invest in cash-strapped Freedom Bank. However, it said it will only buy the stake if Freedom raises an additional $15 million from other investors. As part of the agreement, Laurence Fentriss and Timothy Anonick, principals of Community Bank Investors of [...]

Buyout Shops Complete Clear Channel Deal Thu, 31 Jul 2008 11:33:41 +0000
Clear Channel Communications, the nation’s largest radio broadcaster, said that Bain Capital and THL Partners had officially completed their $17.9 billion buyout of the company, almost two years after Clear Channel first agreed to be purchased by the private-equity firms. The buyers valued the transaction at $24 billion, including debt. Last week, Clear Channel shareholders [...]

Cadwalader to Lay Off 96 Lawyers Thu, 31 Jul 2008 11:32:55 +0000
In one of the largest rounds of job cuts to hit the legal community since mortgage meltdown began, Cadwalader, Wickersham & Taft announced that it is laying off 96 lawyers in the United States and Britain due to continued slowness in real estate finance and securitization, the firm’s core practices. The latest round of layoffs [...]

Accounting Board Delays an Asset Rule for Banks Thu, 31 Jul 2008 11:32:29 +0000
The Financial Accounting Standards Board, under pressure from banks and auditors, voted unanimously on Wednesday to delay a new accounting rule that is aimed at forcing banks to put more assets on their balance sheets rather than hide them in so-called special-purpose entities. The board, reversing a decision it made on June 11, decided that the [...]

Targeted Credit Suisse Broker Goes Missing, Report Says Thu, 31 Jul 2008 11:30:44 +0000
A former Credit Suisse broker who is the of a fraud investigation into an auction rate securities scam may have fled to his native Bulgaria, The Wall Street Journal reported. The move comes as prosecutors prepare to bring criminal charges in a probe into activities of two former Credit Suisse brokers — Bulgarian-born Julian Tzolov [...]

Double Dutch Gets Status in the Schools Thu, 31 Jul 2008 06:06:03 GMT
Come next spring, double dutch, an urban street staple that dates back centuries, will become the newest of 35 varsity sports played in New York City schools.

Skin Deep: Proposed Sunscreen Labels on Hold for Now Thu, 31 Jul 2008 02:46:43 GMT

China Announces More Pollution Controls Thu, 31 Jul 2008 11:10:31 GMT
China unveiled stricter emergency pollution controls for the Olympics that would shutter factories and expand traffic rules.

Karadzic to Appear in Court Thu, 31 Jul 2008 11:23:53 GMT
A man bought the Serbian newspaper Blic, which sported an exclusive photo of Radovan Karadzic shorn of his hair and beard.

Deal on a Security Agreement Is Close, Iraqis Say Thu, 31 Jul 2008 05:17:27 GMT
Iraq and the United States are close to a deal on a security agreement that Iraqi officials said satisfies the nation’s desire to be treated as sovereign and independent.

Memo From Havana: At a Fork in the Road, Cuba Follows Two Paths Thu, 31 Jul 2008 04:19:08 GMT
President Raúl Castro spoke at the garrison where he and his brother Fidel started the Cuban revolution.

Thaksin’s Wife Guilty of Tax Evasion Thu, 31 Jul 2008 09:17:02 GMT
In the first verdict in a series of corruption cases that target the former Thai prime minister Thaksin Shinawatra, his wife was given three years in prison.

Libya Frees Russian Oil Man Ahead of Putin Talks Thu, 31 Jul 2008 09:04:33 GMT
A Russian oil executive detained in Libya was freed hours before Prime Minister Vladimir Putin of Russia was due to host the country’s prime minister.

Afghan TV Journalist Freed From Detention Thu, 31 Jul 2008 09:20:21 GMT
Afghan authorities released a television talk show host critical of the government following an outcry in the media over his detention, a spokesman said.

Russians Pull Out of Georgian Area Thu, 31 Jul 2008 04:17:30 GMT
The last of 400 Russian soldiers sent to repair a railroad in Georgia’s rebel region of Abkhazia began to leave on Wednesday.

An Online Hoax Becomes a Source About a Suspect Thu, 31 Jul 2008 04:16:05 GMT
A fake Web site became a prime source of information for journalists around the world after the arrest of Radovan Karadzic, the Bosnian Serb leader.

Trying to Curb Global Heat, U.N. to Turn Up Its Own Thu, 31 Jul 2008 04:14:12 GMT
The United Nations secretary general, Ban Ki-moon, has approved a one-month pilot project to raise the thermostat throughout much of the Secretariat building to 77 degrees from 72 degrees.

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