News Archive
National | Mon, Jan 21, 2013

Oil traded near the highest level in four months in New York as European finance ministers approved aid to ease a debt crisis that threatens the region’s economy, and U.S. lawmakers prepared for a budget vote.

Over the past four years, the Federal Reserve has become the most important branch of government. It has acquired unprecedented powers over almost all aspects of American life. It has also become much more politicized than at any time in living memory. Expect further attacks on its independence and integrity at election time. The spirit of Andrew Jackson lives on.

The tragic suicide last week of Aaron Swartz, the visionary Internet activist who helped create Reddit, is being blamed in part on the zeal of the U.S. attorney whose office was prosecuting him for supposed computer crimes.

With 72 percent of corporate earnings exceeding analysts’ estimates, it may be difficult for U.S. stocks not to reach a record in 2013.

Superstorm Sandy, one of the nation's costliest natural disasters, is giving new urgency to an age-old debate about whether areas repeatedly damaged by storms should be rebuilt, or whether it might be cheaper in the long run to buy out vulnerable properties and let nature reclaim them.

A San Francisco startup may win approval as soon as this month to become the first firm allowed to raise money for solar-power projects as a REIT, the financing vehicle used in $640 billion of U.S. property ventures.

Russia said Monday it is sending two planes to Lebanon to start evacuating its citizens from Syria, the strongest sign yet that President Bashar Assad's most important international ally has serious doubts about his ability to cling to power.

The Dutch finance minister, Jeroen Dijsselbloem, was elected Monday as the new president of the group of euro area finance ministers.

They seem right out of a Hollywood fantasy, and they are: Cars that drive themselves have appeared in movies like “I, Robot” and the television show “Knight Rider.”

Atari SA’s U.S.-based video-game-making businesses filed for bankruptcy protection in Manhattan with the intention of separating from the unprofitable French parent and seeking independent funding.

With fourth-quarter earnings seasons hitting its stride, investors are returning to the familiar comfort of cold, hard numbers -- the press releases, conference calls and spreadsheets that provide a real view of corporate America's performance.

The world has not yet escaped the risk of a collapse in the global economy despite some renewed confidence heading into 2013, the founder of the World Economic Forum told The Associated Press on Monday.

The House is scheduled to vote Wednesday on an increase in the nation's debt limit, a move designed to prevent a first-ever government default.

South Korea’s tycoons were relieved when the pro-business Park Geun Hye was elected last month as the nation’s 11th president.

Jan. 21 (Bloomberg) -- Oil dropped from the highest level in four months in New York as European finance ministers were set to discuss the region’s debt crisis and as U.S. lawmakers vote this week on budget measures.

Here are two realities about U.S. second presidential terms: They aren’t cursed, as legend has it, and they are rarely better than first ones.

Video game maker Atari's U.S. operations have filed for Chapter 11 bankruptcy protection in an effort to separate from their French parent company, which is filing a similar motion separately in France.

President Barack Obama has signed documents officially submitting top administration nominations to the Senate.

Jan. 21 (Bloomberg) -- Control of the Sacramento Kings was sold to a group from Seattle in a deal that is said to value the team at a National Basketball Association-record $525 million and sets up a return of the league to the Washington city.

Jan. 21 (Bloomberg) -- President Barack Obama took the oath of office yesterday to formally start a second term that will carry over many of the same battles from his first.

Jan. 21 (Bloomberg) -- Nokia Siemens Networks, the phone- equipment venture of Nokia Oyj and Siemens AG, may sell as much as 750 million euros ($1 billion) of bonds to bolster its finances, according to a person familiar with the plans.

Jan. 21 (Bloomberg) -- About $700 billion a year of new spending on renewable power, low-carbon transport and energy efficiency is needed to meet the United Nations goal to cap temperature rises, a report for the World Economic Forum showed.

Jan. 21 (Bloomberg) -- European stocks climbed to a one- week high as euro-area finance ministers met for the first time this year to address the region’s debt crisis. U.S. index futures advanced.

Jan. 21 (Bloomberg) -- Developing-nation stocks fell, led by the biggest tumble in Malaysian equities since September 2011, after the MSCI Emerging Markets Index approached the highest valuation in 20 months.

Jan. 21 (Bloomberg) -- Clarus Securities Inc. said Jim Christodoulis will replace Rod Campbell as president and chief executive officer of the Toronto-based investment bank.

Southwest Airlines has added a $40 pay-at-the-gate option for travelers with cheaper tickets who want to be among the first to group to board.

Delta Air Lines Inc. is expected to report another profitable year on Tuesday even though traffic barely rose.

Hopes that U.S. politicians will be able to reach a deal on raising the government's debt limit, avoiding the risk of a disastrous default, supported global markets on Monday, when Wall Street will remain closed for a holiday.

Cuba apparently has finally switched on the first undersea fiber-optic cable linking it to the outside world nearly two years after its arrival, according to analysis by a company that monitors global Internet use.

Jan. 22 (Bloomberg) -- Vodacom Group Ltd.’s Tanzanian unit said it’s concerned that a proposed reduction in interconnection fees may curb investment in telecommunications infrastructure in the East African nation.

Jan. 22 (Bloomberg) -- The fall of Lance Armstrong was as steep as the mountains he climbed en route to the Champs-Elysees and life as a global icon. He left a trail of destruction on the way up and on the way down.

even though world economies are expected to pick up.

Japanese and U.S. investigators began a probe Monday into the maker of the lithium ion batteries used in Boeing's grounded 787 jets.

Jan. 21 (Bloomberg) -- The yen rebounded from its lowest level since June 2010 against the dollar as the Bank of Japan began a two-day policy meeting. European stocks were little changed as finance chiefs gathered for the first time this year.

Jan. 21 (Bloomberg) -- German banks will cut jobs in administrative roles and largely spare their consumer-banking operations as they anticipate growth in that business over the next six months, an Ernst & Young LLP survey found.

but she's downplaying the implications for her quest for a third term.

Jan. 21 (Bloomberg) -- Gold climbed toward a one-month high in London, extending a second consecutive weekly advance, on speculation Japan will increase stimulus. Silver was set for the longest rally in a year.

Jan. 21 (Bloomberg) -- Eastern Europe’s economic-growth prospects are improving because of the European Central Bank’s efforts to resolve the continent’s debt crisis, the European Bank for Reconstruction and Development said.

Jan. 21 (Bloomberg) -- Canadian wholesale sales climbed for a second month in November, rising to the most since June, led by computer and telecommunication equipment.

Jan. 21 (Bloomberg) -- Russia President Vladimir Putin ordered the Federal Security Service, a successor to the KGB Soviet security agency, to create a system to prevent hacker attacks on computers of state officials, according to a decree.

Spain's governing Popular Party says it will commission an external audit of its finances to clear its name.

Algeria's prime minister says a former driver at a natural gas complex was among the band of al-Qaida-linked militants who stormed the site and took hundreds of workers hostage.

Jan. 21 (Bloomberg) -- U.K. government bonds fell, with two-year yields rising the most in two weeks, as an industry report showing British house prices increased in January reduced demand for safer assets.

Jan. 22 (Bloomberg) -- Volkswagen AG’s Porsche said it will begin selling Macan compact SUVs and delivering a $2.2 million supercar in China next year as part of its expansion plans in the world’s largest automobile market.

Jan. 21 (Bloomberg) -- India’s overseas investment board approved furniture retailer IKEA’s proposal to open outlets in the country, bringing the Swedish chain closer to becoming the first major foreign retailer to set up its own stores.

Jan. 21 (Bloomberg) -- Research In Motion Ltd. jumped as much as 8.6 percent after its chief executive officer said the BlackBerry handset maker is considering strategic options including a sale of its hardware production unit.

Months behind schedule, the construction crew racing to finish a highway encircling Indonesia's traffic-choked capital is being blocked by a determined group of locals and the ramshackle cemetery that is home to their ancestors.

Police say floods in Indonesia's capital have killed at least 26 people and sent more than 100,000 fleeing their homes.

Judges hearing ex-Premier Silvio Berlusconi's sex-for-hire trial on Monday pushed back the verdict and the sentencing in the case until after Italy's Feb. 24-25 national election.

Kissing his boyfriend during a protest in front of Russia's parliament earned Pavel Samburov 30 hours of detention and the equivalent of a $16 fine on a charge of “hooliganism.” But if a bill that comes up for a first vote later this month becomes law, such a public kiss could be defined as illegal “homosexual propaganda” and bring a fine of up to $16,000.

The new Fyra train connecting Amsterdam and Brussels was called the “missing link” in Europe's high-speed rail network when it was proudly unveiled. Now the Italian-built trains are missing in action.

Political parties are unveiling the names of those who won stormy primaries which observers say were flawed.

Want to board first on a Southwest Airlines flight? Now you can pay $40 for the privilege.

Mon, Jan 21, 2013