News Archive
National | Mon, Jan 7, 2013

Jan. 7 (Bloomberg) -- Roche Holding AG Chairman Franz Humer may have put a lid for now on a year’s worth of speculation by telling a Swiss newspaper that a Roche deal to buy U.S. genetics company Illumina Inc. is off the table. Illumina shares fell the most in 15 months.

About noon on Christmas Day in London, I became the victim of a crime. Somebody smashed in the rear window of our family car; nothing serious, fortunately.

Ten major banks and mortgage companies agreed Monday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

U.K. house prices rose for a second month in December and will probably remain little changed in 2013 as the uncertain economic outlook constrains property demand, according to Halifax.

Jan. 7 (Bloomberg) -- Oil was little changed amid concern that Congress will fail to raise the U.S. debt ceiling, hurting economic confidence, and on speculation that supplies in the world’s biggest crude-consuming country will rebound.

Bank of America said it will spend more than $10 billion to settle mortgage claims resulting from the housing meltdown.

An improving job market is boosting wages and providing needed relief just as every American worker gets hit with a tax increase.

Investors started the week on a cautious note, pulling the Standard & Poor's 500 index down from the five-year high it reached Friday.

U.S. drivers are hoping 2013 doesn't start off like 2012 at the gas pump. So far, so good.

JA grand fiscal bargain, with perhaps $2 trillion more in deficit reduction over 10 years — more than a quarter of which would be additional revenue and much of the rest obtained through well-crafted, significant cutbacks in big-ticket entitlements — could have been a win-win for Republicans and Democrats.

If we decide to break up the big banks, can we actually do it?

The Federal Trade Commission has reached a landmark resolution of its long investigation into Google Inc.’s business practices.

Bank of America will pay $10.3 billion to the government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash.

Global stock markets drifted lower on Monday as some investors sought to cash in on last week's strong gains and worries grew of more political brinkmanship in Washington.

Jan. 7 (Bloomberg) -- The euro rose for a second day against the dollar, reversing earlier losses, after failing to drop below its 50-day moving average.

Jan. 7 (Bloomberg) -- Oil declined for a third day in London amid speculation that talks between Sudan and South Sudan may lead to the resumption of crude exports.

Jan. 7 (Bloomberg) -- Treasuries fluctuated as the U.S. prepares to sell $66 billion of notes and bonds this week as investors questioned the outlook for the end of the Federal Reserve asset-purchase program.

Jan. 7 (Bloomberg) -- Apple Inc.’s customers have downloaded more than 40 billion applications from the company’s App Store, with almost half occurring last year as use of smartphones and tablets surged.

Apple says people have downloaded more than 40 billion apps on for the iPhone, iPad and the iPod Touch, nearly half of them in 2012.

The Supreme Court has turned away a challenge from former House Majority Leader Dick Armey and other Social Security recipients who say they have the right to reject Medicare in favor of continuing health coverage from private insurers.

Jan. 7 (Bloomberg) -- The French government will look into making Internet companies including Google Inc. pay for the burden they place on telecommunications networks, Technology Minister Fleur Pellerin said.

Dismayed that family members are spread out over the house, each with a separate PC or tablet? Lenovo has something it believes will get them back together: a PC the size of a coffee table that works like a gigantic tablet and lets four people use it at once.

Jan. 7 (Bloomberg) -- Goldman Sachs Group Inc., the bank that sold its stake in Germany’s largest department store last month, plans to sell shares in a unit that owns homes valued at 4.7 billion euros ($6.1 billion) in the country.

Citigroup's new CEO is continuing to put his imprint on the bank, naming co-presidents on Monday.

For the first time in her life, Marion Johnston says she feels old.

Jan. 7 (Bloomberg) -- JPMorgan Chase & Co. will make about $700 million in direct payments to borrowers as part of the industry’s $8.5 billion settlement with U.S. regulators over foreclosure abuses, a person briefed on the situation said.

Jan. 7 (Bloomberg) -- MetLife Inc., the largest U.S. life insurer, will pay $37 million as part of an agreement regulators reached with the largest mortgage servicers to end case-by-case reviews of foreclosure-abuse claims.

The nation's retailers boosted holiday hiring to the highest level in six years despite worries about the economy, Superstorm Sandy and the presidential election, according to an analysis of government job data by a leading outplacement consultancy.

Jan. 7 (Bloomberg) -- Citigroup Inc. said it expects to book a $305 million pretax charge in 2012’s fourth quarter as part of a settlement with federal regulators over foreclosure lapses.

Jan. 8 (Bloomberg) -- Samsung Electronics Co., the world’s largest maker of mobile phones and TVs, reported higher-than- expected fourth-quarter earnings as sales of Galaxy smartphones withstood the debut of Apple Inc.’s iPhone 5.

Lockheed Martin Corp. said Monday its Canadian unit will buy the assets of Aveos Fleet Performance Inc.'s engine maintenance, repair and overhaul business.

unless the viewer moves farther away from the screen.

First there were McNuggets. Then there were Chicken McBites. Now McDonald's could be adding “Mighty Wings” to its chicken menu.

Cameras that can record in 3-D are usually pretty complicated, sporting two lenses instead of one, to mimic human binocular vision. Samsung says it has a more elegant solution: a single lens that can go from 2-D to 3-D mode with the flip of a switch.

New TVs from Samsung will recognize an expanded range of gestures so people can swipe through on-screen menus in a way that revolutionizes the old remote control.

The Wet Seal Inc. said that it has named retail-industry veteran John D. Goodman as its new CEO, effective Monday.

Jan. 7 (Bloomberg) -- Citigroup Inc., the third-largest U.S. bank by assets, named Jamie Forese and Manuel Medina-Mora co-presidents.

Lego bricks are getting cozy with the iPhone and other Apple devices in the latest incarnation of the Mindstorms robotics kit.

Online video company Netflix and Warner Bros. Television Group have signed a licensing deal that gives Netflix members access to prior seasons of certain television shows produced by Warner Bros.

Genetic analysis instrument company Illumina is buying prenatal testing company Verinata Health Inc. in a deal worth up to $450 million.

Retalix shareholders approved its $660 million acquisition by NCR Corp.

Jan. 7 (Bloomberg) -- Gold rebounded from the worst run of weekly losses since 2004 in New York as a drop to a four-month low spurred investor purchases.

Jan. 7 (Bloomberg) -- Former New Mexico Governor Bill Richardson led a delegation including officials of Google Inc. to North Korea today, a trip the U.S. had opposed amid global efforts to punish the regime for its missile launch last month.

Stock futures are cooling off after the Standard & Poor's index reached levels last week not seen since the start of the Great Recession.

International banking regulators agreed Sunday on global rules meant to ensure banks keep enough cash in hand to survive future market crises, and gave banks until 2019 to comply fully.

Down syndrome test maker Sequenom Inc. said Sunday that its sales climbed in the fourth quarter, but its shares fell on the threat of increasing competition.

Thousands of Spanish medical workers marched through downtown Madrid on Monday to protest against budget cuts and plans to partly privatize their cherished national health service.

LG unveiled a 55-inch TV that sports “ultrahigh-definition” resolution with more than 8 million pixels, kicking off what is likely to be a mini-obsession with the latest super-clear format at the annual International CES gadget show.

LG is unveiling a 55-inch TV that sports “ultrahigh-definition” resolution with more than 8 million pixels, kicking off what is likely to be a mini-obsession with the latest super-clear format at the International CES gadget show in Las Vegas.

Jan. 7 (Bloomberg) -- Samsung Electronics Co., LG Electronics Inc. and Toshiba Corp., anticipating a challenge from Apple Inc., are answering with TVs that respond to voice commands and let viewers move easily between Netflix and ESPN.

Commercial Metals' fiscal first-quarter net income slid 54 percent, as the prior-year period included a large tax benefit and its Americas Recycling unit dealt with weaker demand.

Retired Gen. Stanley McChrystal says he was “completely surprised” by the uproar that followed publication of a Rolling Stone article featuring derogatory comments attributed to his staff about the Obama administration.

Jan. 7 (Bloomberg) -- Inc., the world’s largest online retailer, surged to a record high after Morgan Stanley upgraded the shares, citing an expected surge in global e- commerce sales.

Officials are searching for bodies among the charred ruins of more than 100 homes and other buildings destroyed by wildfires in the island state of Tasmania.

Jan. 7 (Bloomberg) -- President Barack Obama will nominate John Brennan, his counterterrorism chief, as director of the Central Intelligence Agency, White House spokesman Tommy Vietor said.

A Chinese city government has apologized for taking five days to report a chemical leak that has affected another city's drinking water supply.

Spaceport America officials are 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.

For a country that prides itself on efficiency and punctuality, the saga of Berlin's new airport, whose opening was delayed for a fourth time on Monday, has become something of a national joke and source of embarrassment for Germany.

The top prosecutor in a suburban New York county said Monday that releasing the names and addresses of licensed gun owners is irresponsible because the information is then available to criminals.

A spokesman for former President George H.W. Bush says Bush's recovery from a bronchitis-related cough and subsequent complications is “continuing” and there's still no timetable for his release from a Houston hospital.

Mon, Jan 7, 2013