News Archive
National | Wed, Jan 9, 2013

Jan. 9 (Bloomberg) -- Redbox Instant, the online-video service owned by Verizon Communications Inc. and Coinstar Inc., has signed 10,000 users to its public test and is seeking 35 million customers overall.

President Barack Obama, it turns out, is a floater of names.

From the iPotty for toddlers to the 1,600-pound mechanical spider and the host of glitch-ridden “smart” TVs, the International CES show is a forum for gadget makers to take big -- and bizarre -- chances.

Blackstone Group LP, the largest U.S. private real estate owner, accelerated purchases of single-family homes as prices jumped faster than it expected.

Broadcast networks make many of their shows available on the Internet, but you usually have to wait at least a day after an episode airs on television. A subscription service called Aereo breaks those shackles and makes network programs available right away.

Having spent more than $200 million to bulk up their starting pitching this winter, the Los Angeles Dodgers are turning their attention to improving the aging stadium they've played in since 1962.

Oil was little changed after a government report showed that U.S. crude and fuel inventories surged while equities gained on economic optimism.

Questions over Herbalife Ltd.'s business model have pummeled the nutrition and weight loss company's shares and reputation in recent weeks. Now the company is reportedly the target of an SEC inquiry.

The White House is dismissing suggestions to sidestep Congress to meet the nation's debt obligations, declaring that it is Congress' responsibility to pay the bills of the United States.

Labor Secretary Hilda Solis is resigning, saying she plans to return to her native California. She is expected to run for a seat on the Los Angeles County Board of Supervisors.

Mortgage applications in the United States rebounded last week after three straight declines, as purchases and refinancing advanced.

Stocks rose on Wall Street Wednesday after U.S. corporate earnings reports got off to a good start.

World stock markets rose Wednesday after the fourth-quarter earnings season got off to a positive start in the U.S. with aluminum giant Alcoa forecasting higher demand for 2013.

Jan. 9 (Bloomberg) -- Oil switched between gains and losses in London amid signs of rising inventories in the U.S., the world’s biggest crude-consuming nation.

Jan. 9 (Bloomberg) -- U.S. stock futures rose, after a two- day decline for the Standard & Poor’s 500 Index, as Alcoa Inc. kicked off the earnings season by posting fourth-quarter sales that exceeded analysts’ estimates.

Jan. 9 (Bloomberg) -- A gauge of U.S. corporate credit risk was little changed after Alcoa Inc. kicked off the corporate- earnings season.

Retail sales climbed 2.5 percent for the November and December period, boosted by a last-minute shopping surge, according to the latest measure on holiday spending.

staffers at the public relations firm who were virtually assured of an annual salary bump before the recession have to work a lot harder to get an increase.

Jan. 9 (Bloomberg) -- Jacoby & Meyers LLP, the discount law firm with storefront offices across the U.S., won an appeals court ruling reinstating its legal attack on a New York statute barring nonlawyers from owning an interest in law firms.

Jan. 9 (Bloomberg) -- Dish Network Corp.’s counterbid for Clearwire Corp., which already agreed to a buyout by majority shareholder Sprint Nextel Corp., has analysts wondering about Dish Chairman Charlie Ergen’s motivations.

Jan. 9 (Bloomberg) -- Facebook Inc., owner of the largest social-networking service, rose 5.3 percent to a six-month high amid optimism that the company will benefit from new advertising efforts to drive revenue.

A trust fund that pays medical bills for Chrysler blue-collar retirees has asked the company to set up a public sale of Chrysler stock.

Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out.

Jan. 9 (Bloomberg) -- AMR Corp., the bankrupt parent of American Airlines, says its value has “significantly appreciated” and there may be a recovery for shareholders, who generally receive nothing in bankruptcy cases.

A 200-foot crane collapsed onto a building under construction near the East River waterfront Wednesday, injuring seven people, three of them seriously.

Facing a certain backlash from Washington and beyond, American International Group won't be joining a $25 billion shareholder lawsuit against the U.S. government over the terms of its bailout at the height of the financial crisis.

Jan. 9 (Bloomberg) -- General Motors Co., armed with new products such as a redesigned Chevrolet Silverado pickup, should see “modest” U.S. share growth this year after falling to an 88-year low in 2012, Chief Executive Officer Dan Akerson said.

The gig is almost up for one of the eight Monopoly tokens. But which will it be? Iron? Thimble? Top Hat?

Jan. 9 (Bloomberg) -- Morgan Stanley, the sixth-largest U.S. bank by assets, plans to eliminate about 1,600 jobs from its investment bank and support staff in coming weeks, a person with direct knowledge of the matter said.

Jan. 9 (Bloomberg) -- First Quantum Minerals Ltd., a producer of copper in Africa, said it’s confident a C$5.1 billion ($5.2 billion) hostile bid for Inmet Mining Corp. will succeed after holding talks with shareholders.

Jan. 10 (Bloomberg) -- It’s the retail revolution that wasn’t.

Jan. 9 (Bloomberg) -- Four of the top 10 U.S. money-market fund providers said they’ll disclose daily fund values, pressuring rivals to follow suit as regulators consider banning the use of a constant $1 share price.

Poland's central bank has lowered interest rates for the third time in as many months, a widely expected move meant to give a boost to a slowing economy.

Darden Restaurants Inc. is replacing the president of its flagship Olive Garden chain after a new marketing campaign failed to reverse slumping sales.

A private delegation including Google's Eric Schmidt is urging North Korea to allow more open Internet access and cellphones to benefit its citizens, the mission's leader said Wednesday in the country with some of the world's tightest controls on information.

Solar panel maker First Solar has purchased Chilean solar development company Solar Chile as energy demand continues to rise in the region.

Busy, congested, stressful. This is how the world's first subway system was depicted by London newspapers in 1863. It's a situation that would be familiar to nail-biting passengers of the present as the Tube turned 150 years old Wednesday.

Jan. 9 (Bloomberg) -- Goldman Sachs Group Inc., Morgan Stanley and two other banks may agree as soon as this week to settle claims over botched foreclosures in an accord similar to one reached with 10 other loan servicers, two people briefed on the discussions said.

The price of oil slipped below $93 a barrel Wednesday, as a report of rising U.S. crude supplies outweighed a forecast for higher demand this year from aluminum giant Alcoa.

Robert Khuzami is leaving the Securities and Exchange Commission after leading the agency's efforts to penalize the nation's largest banks for actions that triggered the 2008 financial crisis.

The investment bank Morgan Stanley plans to cut about 1,600 jobs, nearly 3 percent of its workforce, a person familiar with the bank said Wednesday. The cuts will focus on senior ranks at the bank.

German Chancellor Angela Merkel said Wednesday that Cyprus can't expect special treatment as it negotiates a bailout with international lenders.

Shares of Facebook are pushing above $30 for the first time since July after it sent out invitations to “come and see what we're building” Tuesday at its headquarters in Menlo Park, Calif.

White House chief of staff Jack Lew is President Barack Obama's expected pick to lead the Treasury Department, with an announcement possible before the end of the week, as the administration moves to fill the most critical jobs in the Cabinet.

Jan. 9 (Bloomberg) -- Carlyle Group LP, the second-biggest private-equity firm by assets, raised about $150 million for a fund that will invest in residential mortgage-backed securities after the market rebounded in the past four years, according to a person familiar with the firm.

The 2013 Nissan Leaf is now being produced in Tennessee.

Herbalife shares ricocheted Wednesday after a well-known investor disclosed an 8.2 percent stake in the company.

Syrian rebels on Wednesday freed 48 Iranians held captive since August after President Bashar Assad's regime promised to release hundreds of detainees in the first major prisoner swap of the country's civil war, officials said.

New Jersey Gov. Chris Christie says he's willing to have a conversation about stricter gun laws, but says policymakers also must address the mental health system, improve access to drug treatment and look at the impact of violent video games.

If you've always wanted a fork that spies on your eating habits, you're in luck: A company has developed a utensil that records when you lift it to the mouth.

Stock futures are rising after a pair of U.S. companies opened the earnings season with a surprisingly strong start.

Milan court officials have defended the impartiality of their judges after ex-Premier Silvio Berlusconi blamed “feminist, communist” magistrates for a (euro) 200,000 ($260,000) a day divorce settlement.

The Marine Corps has advised its legal staff that spouses clubs operating on its installations must admit same-sex spouses if they wish to remain on the bases.

Wed, Jan 9, 2013