News Archive
National | Fri, Jan 4, 2013

The U.S. economy rounded out a third year of job gains with another month of employment growth in December, sending the strongest signal yet that it kept expanding even as the budget fight intensified.

An appellate court ruling overturning a rape conviction because the victim wasn't married prompted anger Friday from women's groups and a state legislator who plans to introduce a bill that would close the legal loophole.

Is Target Corporation's grocery aisle ready for its close up?

When lawmakers delivered a long-delayed, last-minute agreement on the budget, Wall Street celebrated. And it would be easy to think that the surge in the Dow the following day meant investors had put their concerns about Washington's political gridlock behind them.

The hike up the granite monolith Half Dome in Yosemite National Park is one of the most iconic in the nationwide system, but on Friday officials announced approval of a plan that permanently limits how many can do it.

Officials at the highest levels of the California Department of Parks and Recreation helped keep millions of dollars in money intended for state parks secret for more than a decade, the California attorney general's office said in a report released Friday.

The ability to access a car quickly and give it back after a few hours is exploding in popularity among both college students and city dwellers.

It has become fashionable to despair of our supposed recent lack of technological progress. All the big inventions of modern society — jet engines, television, nuclear weapons — were on the scene by the early 1960s.

When the word reached the Orion Assembly Plant, it spread along the serpentine assembly line like news of a death or natural disaster: General Motors, the biggest automaker in the world, had filed for bankruptcy protection.

Jan. 4 (Bloomberg) -- U.S. stocks rose, sending the Standard & Poor’s 500 Index to the highest level since December 2007, after data showed employers added workers in December at about the same pace as the prior month.

Jan. 4 (Bloomberg) -- International Business Machines Corp. said Senior Vice President Mike Daniels is retiring after 36 years with the company, leaving two lieutenants in charge of services, the company’s biggest division.

The Standard & Poor's 500 closed at its highest in five years Friday after a report showed that hiring held up in December, giving stocks an early lift.

Jan. 4 (Bloomberg) -- Eli Lilly & Co., facing a wave of generic competition, forecast 2013 profit higher than analysts estimated on expectations of increased sales of diabetes treatments and the erectile dysfunction drug Cialis.

A former top Berkshire Hathaway executive who many investors expected to succeed Warren Buffett one day reportedly won't face any charges for questionable trades he made before resigning in 2011, his lawyer said.

A federal appeals court revived a lawsuit accusing the U.S. Department of Housing and Urban Development (HUD) of setting up its reverse mortgage program in a way that makes it more likely a surviving spouse will end up in foreclosure.

At Lambert Ranch, an Irvine, Calif., housing development where prices start at $1 million, just two of 98 homes are unsold since the project opened in May.

Eli Lilly and Co. unveiled a better-than-expected 2013 earnings forecast Friday, in part because the pharmaceutical company expects growth from several established drugs to help make up for revenue lost to generic competition.

Jan. 4 (Bloomberg) -- Employers added workers in December at about the same pace as the prior month, and the unemployment rate matched a four-year low, showing sustained gains in the U.S. labor market even as lawmakers were struggling to reach a budget deal.

The stock market posted impressive returns last year, even with the presidential election and the resulting political gridlock. It was a welcome change from 2011, when the market rose only slightly.

U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff.

“Grey's Anatomy” star Patrick Dempsey may be the real “McSteamy.”

Jan. 4 (Bloomberg) -- U.S. stock futures advanced after government data showed employers added workers in December at about the same pace as the prior month and the unemployment rate matched a four-year low.

Jan. 4 (Bloomberg) -- Oil dropped for a second day, erasing most of its weekly gain in London, after U.S. Federal Reserve officials signaled the winding down of a stimulus program this year in the world’s biggest crude user.

The House has overwhelmingly approved $9.7 billion to pay flood insurance claims for the many home and business owners flooded out by Superstorm Sandy. The vote came more than two months after the storm hit and days after Northeast Republicans erupted over House Speaker John Boehner's decision to delay an earlier vote.

U.S. and European stocks got only a brief boost from U.S. employment figures Friday, trading largely flat after news that the American economy kept creating jobs at the expected rate last month.

U.S. companies boosted their orders in November for manufactured goods that reflect investment plans even though total orders were unchanged for the month.

Jan. 4 (Bloomberg) -- MetLife Inc., the largest U.S. life insurer, headed for its biggest weekly advance since 2011 on the prospect that higher bond yields will improve earnings from the company’s fixed-maturity portfolio.

Jan. 4 (Bloomberg) -- It could have been much worse for top earners.

Jan. 4 (Bloomberg) -- The bond market is siding with Moody’s Investors Service on 30-year debt sold yesterday by Ford Motor Co., pricing the securities as investment grade while Standard & Poor’s rates the automaker as junk.

The nation's crude oil supplies shrank last week, the government said Wednesday.

The unemployment rate for that month still stands at 8.1 percent -- just as the government originally reported.

A gauge of U.S. service firms' activity expanded in December by the most in nearly a year, driven by a jump in new orders and hiring.

A rapt crowd followed a trail of bubbles that zipped over the surface of a seaside pond in the ruins of a 19th century bath in San Francisco.

Jan. 4 (Bloomberg) -- Australia’s flagging property market is poised to get a boost from record low interest rates and a housing shortage that could boost prices by as much as 10 percent this year.

Jan. 4 (Bloomberg) -- Perhaps the most bizarre element of the horrific gang rape and murder of a New Delhi woman is how it became fodder for the India-versus-China debate.

Amazon.com Inc. said Friday that it will start streaming past seasons of TV shows and movies from A&E on its Prime instant video service as part of a licensing deal with the network.

Jan. 4 (Bloomberg) -- Microsoft Corp.’s Windows notebook sales declined during the year-end holiday season as consumers shunned traditional computers and flocked instead to other types of electronics, according to NPD Group.

Jan. 4 (Bloomberg) -- Intercontinental Exchange Inc., which last month agreed to buy NYSE Euronext, is the top stock pick this year as earnings should grow 25 percent in 2014, according to Sandler O’Neill & Partners LP analyst Richard Repetto.

General Dynamics Corp. said Friday that its Electric Boat subsidiary recently received three U.S. Navy contracts worth a combined $4.6 billion to design and develop a new kind of submarine and to continue construction of Virginia-class attack submarines.

Jan. 4 (Bloomberg) -- Federal Reserve Bank of Richmond President Jeffrey Lacker said further monetary stimulus is unlikely to boost growth and will “test the limits” of the U.S. central bank’s credibility.

She added that the consumer health business should continue to bring products back to store shelves. The business is operating under a consent decree with federal regulators _ requiring it to upgrade factories and make other improvements -- following dozens of product recalls since 2009 due to quality lapses.

Jan. 4 (Bloomberg) -- Federal Reserve Bank of St. Louis President James Bullard said that he sees the possibility of U.S. unemployment dropping to 7.1 percent by the end of this year, which could warrant pulling back the central bank’s $85 billion a month of bond purchases.

Jan. 4 (Bloomberg) -- Iran and world powers confirmed they’re in talks to restart stalled negotiations over the Persian Gulf nation’s nuclear projects.

The company also plans to cut its workforce _ which totaled 1,100 people as of June -- by 13 percent.

Efforts taken to keep a crucial stretch of the drought-starved Mississippi River open to barge traffic should be sufficient to avert a shipping shutdown that the industry fears is imminent, Army Corps of Engineers and Coast Guard officials said Friday.

Jan. 4 (Bloomberg) -- Barnes & Noble Inc. posted a decline in retail sales in the holiday season as the largest U.S. bookstore chain’s efforts to take on Apple Inc.’s iPad with tablet-style Nooks fell flat with shoppers.

Jan. 4 (Bloomberg) -- Federal Reserve Vice Chairman Janet Yellen said financial markets should be regulated more tightly to reduce the risk of 2008-like credit crises.

Jason Kilar is stepping down as the chief executive of Hulu, the online video service owned by the parents of ABC, NBC and Fox.

An appeals court is siding with environmental groups that had challenged Environmental Protection Agency regulations on soot as too weak.

Jan. 4 (Bloomberg) -- Mosaic Co., the largest U.S. fertilizer producer, reported fiscal second-quarter profit that beat analysts’ estimates after North American sales helped potash volumes to exceed its own forecast.

Jan. 4 (Bloomberg) -- Sun Life Financial Inc. rallied 40 percent last year as investors rewarded decisions to shed riskier assets and emphasize insurance and wealth management. Chief Executive Officer Dean Connor says the narrower focus can still boost earnings in 2013.

A Hawaii economist is telling state lawmakers he expects the state's economic recovery to continue on a “plodding path,” with federal deficit reduction dragging down growth.

Sales of wild horses and burros will be restricted under new rules announced Friday by the U.S. Bureau of Land Management after an investigation into the sale of more than 1,700 horses to a Colorado livestock hauler who supports the horse meat industry.

Former New Mexico Gov. Bill Richardson says the State Department should not be nervous about a visit he's making to North Korea with Google's executive chairman, Eric Schmidt.

Members of Congress are calling for an investigation of Royal Dutch Shell PLC's Arctic offshore drilling operations as salvagers develop plans to move a company drill ship off rocks near an Alaska island, where it ran aground in a fierce year end storm.

Jan. 4 (Bloomberg) -- Swedish companies are more worried about corruption being a threat to business than their Nordic peers and also to a higher degree view graft as a growing risk, according to a survey.

The Massachusetts compounding pharmacy linked to a nationwide meningitis outbreak that has been blamed for 39 deaths and hundreds of illnesses is blaming its cleaning contractor.

Jan. 4 (Bloomberg) -- The dollar strengthened the most in seven weeks against the yen on speculation improving U.S. employment data will encourage policy makers to bring an early end to asset purchases.

Jan. 4 (Bloomberg) -- Google Inc. is free to extend its dominance of the $50 billion Internet-search market after U.S. regulators ended an investigation into whether the company unfairly disadvantaged competing websites by favoring its own services in search results.

Jan. 4 (Bloomberg) -- Verizon Communications Inc., touting new uses for its network, plans to demonstrate Internet- connected cars and the Redbox Instant streaming-video service next week at the Consumer Electronics Show.

Athletic footwear and clothing company Finish Line reported a loss for its fiscal third quarter as consumers did not respond well to its new web site launched in November and sneaker trends changed. The company's performance missed analysts' estimates and it cut its full-year earnings forecast.

PNC Bank has warned customers its websites are getting hit with high traffic consistent with computer attacks.

Jan. 4 (Bloomberg) -- The next big thing in health insurance may be on Roosevelt Avenue in Queens, New York.

Jan. 4 (Bloomberg) -- Google Inc. Executive Chairman Eric Schmidt may travel to North Korea over opposition from the U.S. State Department, becoming the highest-profile businessman to visit the isolated nation since Kim Jong Un succeeded his father as leader just over a year ago.

Jan. 3 (Bloomberg) -- Quiksilver Inc., the skate and surf retailer, named Andy Mooney as president and chief executive officer, replacing co-founder Bob McKnight after six years of annual losses.

Discovery Laboratories Inc. on Friday announced the resignation of its CEO and named a replacement.

Jan. 4 (Bloomberg) -- Airbus SAS is poised to maintain a lead in sales of new single-aisle jet models even as it relinquishes the title of world’s largest planemaker to Boeing Co. for at least three years.

Federal authorities are accusing a Madera, Calif.-based mining company and its CEO of defrauding hundreds of investors in a scam involving a fruitless gold mining venture.

Jan. 4 (Bloomberg) -- Bayerische Motoren Werke AG’s BMW sales surged 39 percent in the U.S. in December to top Daimler AG’s Mercedes-Benz in luxury-auto deliveries for the year as U.S. light-vehicle sales reached the highest level since 2007.

The police chief in a Connecticut city has halted permits for gun shows, saying he's concerned any firearms purchased there might one day be used in a mass shooting.

With a vote to legalize same-sex marriage in Illinois looking less likely to happen in the next few days, supporters of marriage equality are looking ahead to the following legislative session as their next best hope.

A customer's request to put ketchup on a Philly cheesesteak caused a ruckus in an Orlando Subway shop.

Venezuelan President Hugo Chavez is being treated for “respiratory deficiency” after complications from a severe lung infection, his government said, pointing to a deepening crisis for the ailing 58-year-old president.

We know obesity is a health crisis, or every new year wouldn't start with resolutions to eat better and get off the couch. But don't try taking away our junk food.

Newly retired U.S. Rep. Barney Frank says he'd like to be the temporary successor to Massachusetts Sen. John Kerry.

An American Eagle pilot was suspended after failing a blood-alcohol test as he prepared to fly on Friday to New York City from Minneapolis-St. Paul International Airport, authorities said.

The skipper of a Navy attack submarine has been removed from the job after colliding with a guided-missile cruiser.

Jan. 4 (Bloomberg) -- Barack Obama is the first president in more than five decades to win at least 51 percent of the national popular vote twice, according to a revised vote count in New York eight weeks after the Nov. 6 election.

Spaceport America has been urging legislators to limit potential lawsuits from wealthy outer space tourists who take off from New Mexico, saying such a bill is crucial to the future of the project.


Fri, Jan 4, 2013
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