News 2008-08-07 Andanh.com

Freddie Mac’s Big Loss Dims Hopes of Turnaround Thu, 07 Aug 2008 05:10:24 GMT
Freddie Mac’s chief executive, Richard Syron, told analysts that home prices had declined faster than anticipated.

Tempest for a Bank That Bet on Risky Loans Thu, 07 Aug 2008 05:16:26 GMT
Bank United’s headquarters in Coral Gables, Fla. The bank is seeking $400 million in capital to make up for its home loan losses.

Sprint Puts Positive Spin on Losses Thu, 07 Aug 2008 05:41:15 GMT
Sprint Nextel, the troubled No. 3 wireless carrier, lost nearly a million customers in the second quarter. But the company says it lost some of them on purpose.

Monsanto Looks to Sell Dairy Hormone Business Thu, 07 Aug 2008 05:14:06 GMT
The move comes as more retailers, saying they are responding to consumer demand, are selling dairy products from cows not treated with the artificial hormone.

A.I.G. Posts a Large Loss as Housing Troubles Persist Thu, 07 Aug 2008 05:16:57 GMT
American International Group lost more than $5 billion in the second quarter as housing values slid and disruptions continued in the credit markets.

I.R.S. Offers a Settlement in Corporate Tax Shelter Cases Thu, 07 Aug 2008 05:18:01 GMT
The Internal Revenue Service offered more than 45 corporations the chance to settle disputes involving two tax shelters used to defer payment of billions of dollars in taxes.

G.M.’s Directors Stand Behind Wagoner Thu, 07 Aug 2008 05:19:06 GMT
After G.M. reported a $15.5 billion loss on Aug. 1, speculation had been growing on Wall Street and in the auto industry that Rick Wagoner might be in jeopardy of losing his job.

Citigroup Is Expected to Buy Back Securities Thu, 07 Aug 2008 05:24:41 GMT
Citigroup was nearing an agreement to buy back more than $7 billion of auction-rate securities from investors to settle claims that it misled clients about the dangers of the investments.

Advertising: Campaign Reveals Just a Little Bit of Coke’s Secret Formula Thu, 07 Aug 2008 05:23:02 GMT
A scene from Coca-Cola’s “Share the Love” campaign that focuses on taste.

Hedge Fund Business Lifts Profit for Blackstone Thu, 07 Aug 2008 05:17:25 GMT
The Blackstone Group reported $165.6 million in profit for its second quarter, excluding costs tied to its initial public offering last June.

Wall Street Report Tries to Dissect Financial Meltdown Thu, 07 Aug 2008 02:51:20 GMT
Wall Street failed to anticipate how wide-reaching problems with mortgage bonds would spread into seemingly distant corners of the financial markets, the report said.

Muscling Into the Mainstream Thu, 07 Aug 2008 04:45:09 GMT

AOL Weighs on Time Warner; Earnings Fall 26% Thu, 07 Aug 2008 05:21:22 GMT
Declining subscriber fees at the AOL online unit and lower ad revenue at the Time publishing business pushed down second-quarter earnings.

Connecticut Joins Other States in Suing Countrywide Thu, 07 Aug 2008 05:29:55 GMT
Connecticut accused the mortgage giant of steering customers into mortgages they could not afford. California, Florida and Illinois have also sued Countrywide.

Judge Delays Hearing for Fund Manager Who Fled Thu, 07 Aug 2008 05:17:46 GMT
Samuel Israel III tried to plead guilty to bail jumping on Wednesday, but his case was postponed after he told the judge that his drug therapy was affecting his ability to think clearly.

Pentagon Reopens Bidding for Aerial Tankers and Refines Expectations Thu, 07 Aug 2008 05:20:46 GMT
The Pentagon reopened bidding for a $35 billion Air Force tanker contract after a first attempt that featured bitter competition between Northrop Grumman and Boeing.

Where the Fashionistas Go for a Quick Fix Thu, 07 Aug 2008 04:39:35 GMT

SKIN DEEP | En Garde! The Great Mascara Duel Thu, 07 Aug 2008 03:52:13 GMT

Front Row: Shoppers, on Your Marks ... Thu, 07 Aug 2008 03:54:44 GMT

Small-Business Agency Ends Contract, Citing False Papers Thu, 07 Aug 2008 05:33:13 GMT
The Small Business Administration has terminated a contract awarded to a former Bush administration official after the agency’s inspector general found false documents.

Europeans Clear Delta-Northwest Merger Thu, 07 Aug 2008 05:24:02 GMT
European regulators concluded that Delta Air Lines’ proposed acquisition of Northwest Airlines would “not significantly impede effective competition in the European Economic Area or any substantial part of it.”

Mining Giant Makes a Bid for Producer of Platinum Thu, 07 Aug 2008 05:22:12 GMT
A $10 billion takeover bid from the British-Swiss mining giant Xstrata sent shares in the platinum producer Lonmin sharply higher Wednesday.

Ambac Benefits From New Rule Thu, 07 Aug 2008 05:24:26 GMT
The Ambac Financial Group said that net income tripled after a new accounting rule allowed its insurance unit to turn its difficulties into a gain.

Marsh & McLennan Slips Thu, 07 Aug 2008 05:17:10 GMT
Marsh & McLennan, the insurance brokerage firm, said that its second-quarter earnings fell 63 percent as it took a $115 million noncash impairment charge.

World Briefing | The Americas: Canada: Greyhound Pulls Ad Campaign Thu, 07 Aug 2008 06:09:37 GMT
Greyhound has scrapped an ad campaign after a passenger was accused of repeatedly stabbing and then beheading a traveler in the next seat.

Robert Maheu, 90, Surrogate for Howard Hughes, Is Dead Thu, 07 Aug 2008 05:52:15 GMT
Robert A. Maheu, in 1974.

Robert Montgomery, 78, a Big-Case Lawyer, Dies Thu, 07 Aug 2008 05:52:42 GMT
Robert Montgomery in 1997. He won huge awards for clients.

Stocks & Bonds: Further Slide in Oil Prices Eases Worries Thu, 07 Aug 2008 05:31:31 GMT
A drop in oil prices and a better-than-expected profit report from the technology bellwether Cisco Systems helped ease worries about the financial sector.

State of the Art: Speak Up, a Computer Is Listening Thu, 07 Aug 2008 05:14:58 GMT

Bits: Google Offloads Search-Marketing Business to Publicis Thu, 07 Aug 2008 03:09:28 GMT
The deal for the Performics unit comes as Publicis, the giant French advertising holding company, tries to strengthen its digital offerings.

Bits: Google Goes Gaudy With YouTube Ads Thu, 07 Aug 2008 03:10:29 GMT
YouTube clips embedded in blogs now can be covered with ads, creating a look that is far more clustered than the clean aesthetic that Google usually aspires to.

BNP Net Profit Drops 34% Thu, 07 Aug 2008 03:02:05 GMT
The euro zone’s largest bank said net profit fell to 1.5 billion euros, or $2.32 billion, as the global financial crisis contined to weigh on earnings.

Munich Re Net Profit Falls 47% Thu, 07 Aug 2008 03:01:23 GMT
The reinsurer said that the company’s second-quarter net profit fell to 599 million euros, or $928 million, amid market turmoil and asset write-downs of 889 million euros.

France's Publicis to Buy Search Unit From Google Thu, 07 Aug 2008 03:01:00 GMT
Publicis is to acquire a search marketing services provider from Google as part of its push into digital advertising, the company said.

Tropical Storm Forces Closures in Hong Kong Thu, 07 Aug 2008 02:58:17 GMT
Businesses, government offices, financial markets and schools were closed Wednesday in Hong Kong and Macau with the approach of a severe tropical storm.

South Africa Strike Hits Mining and Factories Thu, 07 Aug 2008 02:58:02 GMT
South Africa's giant mining companies were badly hit by a strike on Wednesday over rising power, food and fuel prices that threatened to bring the continent's biggest economy to a standstill.

In the Hunt: Niche Farming Offers Way Back to the Land Thu, 07 Aug 2008 05:20:16 GMT
Lana Holmes, right, and her partner, Ann Vowels, are growing truffles on their property in Yorkville, Calif.

The Measure of Yahoo Shareholders’ Discontent Wed, 06 Aug 2008 21:16:22 +0000
From our colleagues at Bits: The revised tally of Yahoo’s board election released Tuesday showed a much stronger level of dissatisfaction among investors than previously reported. Many analysts said the new count was more aligned with what they had been hearing from shareholders. But to understand how deep the discontent is with independent shareholders, it’s worth doing [...]

J.P. Morgan Energy Banker Said to Jump to Quantum Wed, 06 Aug 2008 20:51:37 +0000
One of J.P. Morgan’s top power M&A bankers is leaving to join Quantum Energy Partners, an energy-focused private equity firm based in Houston, the trade publication SparkSpread.com reported on Wednesday. Dheeraj Verma, an executive director and the co-head of J.P. Morgan’s power M&A group, will become Quantum’s new head of power investments, the site said. The [...]

Payoneer Rings Up $8 Million Funding Round Wed, 06 Aug 2008 17:49:32 +0000
Payoneer, a Web-based payment system that competes with Paypal as well as conventional checks and wire transfers, said it raised an additional $8 million in venture funding. The latest round was led by Carmel Ventures, whose co-founder, Avi Zeevi, has joined Payoneer’s board of directors. Greylock Partners, the venture firm that led Payoneer’s previous, $4 [...]

Citadel Hits the Silver Screen (Sort of) Wed, 06 Aug 2008 17:24:01 +0000
The story of hedge funds in the movie business is nothing new, although as others have noted, it can be an unhappy one (though not for Legendary Pictures’ hit “The Dark Knight”). But tales of hedge funds in the movies are a lot rarer. Yet that seems to be the case with “The Good Guy,” a [...]

Pop Goes Mr. Bubble Wed, 06 Aug 2008 16:50:01 +0000
Yes, it has come to this: The stalling economy and the credit squeeze have claimed the maker of Mr. Bubble, the soapy brew that has enlivened many a child’s bath time. Ascendia Brands filed for bankruptcy protection Tuesday evening, with hopes of finding a buyer for the company, whose brands include Mr. Bubble and the breath [...]

A Tale of Two Exchanges Wed, 06 Aug 2008 15:21:55 +0000
The Nasdaq Stock Market and the New York Stock Exchange are fierce competitors, wrestling for market share and sometimes crowing about poaching a big-name stock listing from the other. This earnings season, Nasdaq, led by chief executive Robert Greifeld, seems to have come out on top. While shares of NYSE Euronext, which runs the New York [...]

Blackstone Thinks Subprime Is Near a Bottom Wed, 06 Aug 2008 15:21:22 +0000
Few in the markets or the economy today have not felt a sting from the subprime mortgage meltdown, from homeowners to giant investment banks. Yet some firms bet early against these risky home loans, reaping big profits in the process. Now one of these apparently prescient bears, the Blackstone Group, may be seeing light at the [...]

Blackstone’s 2nd-Quarter Profits Fall Wed, 06 Aug 2008 12:41:08 +0000
The Blackstone Group, the publicly traded private equity giant, said that it earned earned $165.6 million in profit after taxes for its second quarter, a sharp drop from the $655 million that it earned at the same time last year as the credit squeeze that began last summer continues to hurt the leveraged buyout industry. Yet [...]

Och-Ziff’s Economic Income Rose 15 Percent Wed, 06 Aug 2008 12:32:11 +0000
Och-Ziff Capital Management, the publicly traded hedge fund firm, reported a loss for the second quarter because of costs related to last year’s public offering. But its economic income, a commonly used measure in the hedge fund industry that excludes those charges, rose from a year earlier. Economic income rose 15 percent to $93.3 million, Och-Ziff [...]

Vulnerable to H.I.V., Resistant to Labels Thu, 07 Aug 2008 06:03:36 GMT
A 29-year-old man who goes by the name Eduardo says he contracted H.I.V. after his only sexual encounter with a man. He professes no attraction to men.

Personal Best: Is Stretching All It’s Cracked Up to Be? Thu, 07 Aug 2008 04:11:30 GMT

Mystery Disease Kills Dozens in Venezuela Thu, 07 Aug 2008 06:11:14 GMT
At least 38 Warao Indians have died from an outbreak that preliminary studies indicate might be a type of infectious rabies transmitted by bites from bats.

Recipes for Health: Clear Summer Borscht Wed, 06 Aug 2008 23:10:36 GMT

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