News 2008-08-15 Andanh.com

The Debt Trap: Home Equity Frenzy Was a Bank Ad Come True Fri, 15 Aug 2008 15:39:40 GMT
An ad banner from U.S. Bancorp encouraging home equity loans.

Oil Declines Along With the Dollar Fri, 15 Aug 2008 16:51:34 GMT
A rebound in the dollar has led to an across-the-board plunge in commodity prices, with gold falling to a 10-month low and oil extending its decline. Stocks rose.

Russia’s Conflict Worries Wall Street Fri, 15 Aug 2008 16:44:34 GMT
Prime Minister Vladimir V. Putin.

Manufacturing Output Topped Forecasts in July Fri, 15 Aug 2008 17:03:20 GMT
The Federal Reserve said industrial output rose in July at a slightly better than expected pace despite a plunge in output at the nation’s utilities.

Wachovia Is Latest Bank to Buy Back Securities Fri, 15 Aug 2008 16:55:02 GMT
The bank agreed to buy back $8.5 billion in auction-rate securities from investors, becoming the fifth bank to settle claims over the collapse of such securities.

Judge Rejects Countrywide Settlement Over Lending Practices Fri, 15 Aug 2008 14:49:19 GMT
A federal judge rejected a settlement involving the mortgage lender, saying he was not convinced it was fair to borrowers who said they were hurt by the company.

J.C. Penney, Citing Slowdown, Says Profit Fell 36% Fri, 15 Aug 2008 14:49:19 GMT
The department store chain said quarterly profit was hurt by cutbacks in consumer spending, and forecast further sales declines for the current quarter.

Back-to-School Discounts Are Deeper, More Creative Fri, 15 Aug 2008 06:22:14 GMT
Lizbeth Hayek, her daughter Sarah, 11, and son Chris, 16, were lured to a Staples in Paramus, N.J., by low prices. Many retailers attract customers with very low prices on school items, and hope those buyers will also buy more expensive goods.

U.S. Is Pressuring Delphi Over Pension Obligations Fri, 15 Aug 2008 04:40:58 GMT
The government is trying to force Delphi to transfer more than $1.5 billion of unfunded pension obligations to General Motors by Sept. 30.

Cablevision to Pay Its First-Ever Dividend Fri, 15 Aug 2008 15:02:28 GMT
The Long Island based cable operator said it would pay a quarterly dividend of 10 cents starting in September.

Living Costs Rising Fast, and Wages Are Trailing Fri, 15 Aug 2008 06:52:52 GMT
The cost of living is rising at the fastest rate since the recession of the early 1990s, handing a de facto pay cut to the American worker.

American and British Air Try to Link Networks Fri, 15 Aug 2008 06:46:23 GMT
American Airlines, British Airways and Iberia Airlines said that they planned to apply for antitrust approval to form a marketing alliance to link their global flight networks.

T-Mobile to Offer First Phone With Google Software Fri, 15 Aug 2008 16:39:34 GMT
T-Mobile will be the first carrier to offer a mobile phone powered by Google’s Android software, according to people briefed on the company’s plans.

Two Large Solar Plants Planned in California Fri, 15 Aug 2008 06:41:49 GMT
The largest photovoltaic installation in the United States, at Nellis Air Force Base in Nevada, uses SunPower panels.

Memo Re Tom Cruise: The Star Is Staying Here Fri, 15 Aug 2008 04:50:04 GMT
The head of Metro-Goldwyn-Mayer Studios says he wants Tom Cruise to remain closely involved with United Artists after the departure of Paula Wagner, a friend of Mr. Cruise.

Advertising: You Are Here (and Probably Seeing an Ad) Fri, 15 Aug 2008 05:20:16 GMT
StoreBoard Media puts ads on the security pedestals in retail stores.

Plug-In Hybrid From G.M. Is Nearly Ready for Testing Fri, 15 Aug 2008 05:00:24 GMT
General Motors said that it had “essentially finished” designing its first plug-in hybrid car and would have production-ready prototypes within 10 days.

$39 Million Settlement in a Feud at an Exclusive Montana Resort Fri, 15 Aug 2008 05:10:33 GMT
The Yellowstone Club in Montana, an elite golf and ski resort with homes.

Banking Scandal Unfolds Like a Thriller Fri, 15 Aug 2008 05:30:42 GMT
One of the largest private banking scandals in years in Liechtenstein has brought to light a group of characters worthy of a spy thriller.

Economy in Europe Contracted Last Quarter Fri, 15 Aug 2008 04:45:29 GMT
The economy of the 15-nation euro area contracted 0.2 percent in the three months ended June 30, according to data.

American Flew 2 Unsafe Planes and Had Other Safety Lapses, Agency Contends Fri, 15 Aug 2008 06:57:56 GMT
The Federal Aviation Administration said that American Airlines deliberately flew two planes 58 times in December with broken parts.

2 Backed by Icahn to Join Yahoo Board Fri, 15 Aug 2008 04:49:04 GMT
Yahoo said that it would add the former chief executives of Viacom and Nextel Partners to its board as part of the company’s deal to avoid a proxy fight with the investor Carl C. Icahn.

Former Apple Executive Settles Backdating Suit Fri, 15 Aug 2008 07:17:56 GMT
The former top lawyer at Apple agreed to pay $2.2 million to settle federal regulators’ charges that she altered company records to conceal improper backdating of stock options for senior managers.

Russian Court Bars Chief of Joint Venture, BP Says Fri, 15 Aug 2008 07:17:16 GMT
The British oil company said that a Russian court had barred Robert Dudley, the head of its troubled Russian joint venture, from office for two years.

2 Banks Agree to a Buyback of $7 Billion in Securities Fri, 15 Aug 2008 04:48:44 GMT
JPMorgan Chase and Morgan Stanley agreed to repurchase a combined $7 billion in auction-rate securities as part of a settlement with regulators.

Investor’s Fund Sells Its Starbucks Stake Fri, 15 Aug 2008 07:00:06 GMT
An investment arm controlled by the activist investor Nelson Peltz has dissolved its stake in Starbucks, removing uncertainty as the company reorganizes and lifting its shares.

Arts, Briefly: Couric’s Online Coverage Fri, 15 Aug 2008 02:51:20 GMT
When Katie Couric concludes her one-hour prime time broadcasts during the national political conventions, she will continue hosting coverage on the Internet, CBS said.

Jack A. Weil, the Cowboy’s Dresser, Dies at 107 Fri, 15 Aug 2008 05:30:37 GMT
Jack A. Weil

Henry B. R. Brown, Who Opened Money Markets to Masses, Dies at 82 Fri, 15 Aug 2008 05:31:24 GMT
Henry Brown in the 1980s.

Dr. Doom Fri, 15 Aug 2008 16:09:16 GMT

High & Low Finance: Belated Withdrawal From Risk Fri, 15 Aug 2008 04:39:29 GMT
Sometimes what appears to be best for every individual is bad for the group. Now is such a time in the banking business.

Advertising: Woman to Woman, Online Thu, 14 Aug 2008 12:39:57 GMT
Heather Armstrong, who runs Dooce.com, a blog on motherhood, says women want irreverent content. Her site has been so successful with advertisers that she and her husband were able to quit other jobs.

TV Sports: New York-Based Crews Just Call It as They See It Fri, 15 Aug 2008 02:58:25 GMT
At NBC’s studios in Manhattan, CJ Botitta napped between producing Olympic events.

TV Networks Rewrite the Definition of a News Bureau Wed, 13 Aug 2008 13:07:42 GMT
Phillip Littleton of CNN used digital tools for a report in 2007.

Advertising: A Film on the Trucking Life Also Promotes a Big Rig Wed, 13 Aug 2008 07:43:33 GMT
Steven Donaldson, of Fayetteville, Ohio, is one of three truckers featured in the film “Drive and Deliver.”

Advertising: For Retired Olympians, Marketing Is the Game Thu, 14 Aug 2008 02:59:34 GMT
Josh Davis conducting a swimming clinic sponsored by Mutual of Omaha. Appearances at the Olympics can lead to long-term endorsements.

Around the World, Pessimism About the Economy Thu, 14 Aug 2008 04:05:17 GMT
The Bank of England offered a pessimistic outlook for the rest of the year, saying it expected inflation to hit 5 percent, while Japan appears to be flirting with recession.

A Building Hangover for Spain’s Economy Thu, 14 Aug 2008 04:04:06 GMT
Oscar Agudo at a building site in the center of Málaga. The days of eating out five nights a week, he says, are gone.

As Early as 2005, UBS Executives Were Told of Possible Offshore Violations Thu, 14 Aug 2008 06:56:14 GMT
Internal letters cast a new spotlight on senior executives of the Swiss bank UBS, and some of the letters show that the bank ignored warnings about possible violations of securities laws.

Genentech Rejects Takeover Bid From Roche Thu, 14 Aug 2008 05:27:16 GMT
Roche, the Swiss pharmaceutical giant, is expected to increase its offer for the biotechnology company Genentech now that an initial $43.7 billion bid has been rejected.

Questions Swirl After Death of China’s Food Safety Chief Thu, 14 Aug 2008 05:48:34 GMT
Wu Jianping, the head of China’s food safety watchdog, died after jumping from a building a day after being questioned by prosecutors about his financial assets.

Before the Gunfire, Cyberattacks Fri, 15 Aug 2008 16:25:43 GMT
An image from the Web site of the Georgian Parliament after it had been defaced.

G.M. Is Expected to Announce Expansion in Thailand Wed, 13 Aug 2008 04:22:23 GMT
General Motors is expected to announce an expansion of G.M.’s production of small cars at its plant east of Bangkok and the construction of an engine plant for its Colorado pickup truck.

Cost-Cutting in New York, but a Boom in India Tue, 12 Aug 2008 14:21:41 GMT
Wall Street’s losses are fast becoming India’s gain, as jobs higher up the financial food chain are being exported to India and places less costly than New York and London.

Leaving Wall Street for a Job Overseas Tue, 12 Aug 2008 07:27:44 GMT
As Wall Street’s troubles deepen, big investment banks are seizing the moment to ask high-value employees to move to financial hubs in Asia, Latin America and the Middle East.

Global Trail of an Online Crime Ring Tue, 12 Aug 2008 15:44:14 GMT
Prosecutors say their own informant stole millions of credit card numbers in a case that reveals how the Internet is enabling new crimes on a vast scale.

Investors Struggle With the Uncertainty of Fighting Between Russia and Georgia Tue, 12 Aug 2008 04:10:19 GMT
Stocks fell and then recovered after an escalation in the fighting between Russia and Georgia raised concerns among investors that the conflict might endanger Russia’s economic relations with the West.

China’s Trade Surplus Reaches Highest Level in 8 Months Tue, 12 Aug 2008 05:22:47 GMT
China’s trade surplus swelled in July to its highest level in eight months as its trade gaps with the United States and Europe grew despite concern about weaker global demand.

With Energy in Focus, Heat Pumps Win Fans Thu, 14 Aug 2008 03:53:31 GMT
Gerard Maloney works to install a heat pump system in a home in North Bend, Wash. By tapping geothermal warmth, heat pumps can save homeowners and businesses on heating bills.

As Wachovia Settles, Merrill Feels the Heat Fri, 15 Aug 2008 16:20:53 +0000
And Wachovia makes five. One day after JPMorgan Chase and Morgan Stanley reached separate settlements with New York’s attorney general over the sale of auction-rate securities, Wachovia said Friday it agreed to buy back $8.5 billion of the troubled assets from its customers. With the Wachovia deal, five major banks and brokerages have consented to repurchase [...]

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