News Archive
National | Tue, Jan 22, 2013

Resales of U.S. existing homes unexpectedly dropped in December, as the lowest supply in more than a decade cut into the industry’s best year since 2007.

The Iowa Supreme Court has given protections against libel lawsuits to Internet publishers but declined to extend them to average citizens, a ruling that media lawyers called significant Monday.

Tickets for the Super Bowl between the Baltimore Ravens and San Francisco 49ers are down almost 12 percent on the resale market from last year’s game to an average of $3,278.39, with suites priced at more than $300,000.

Microsoft has joined the negotiations to buy struggling computer maker Dell, according to media reports.

Google Inc., owner of the world’s largest search engine, reported profit that topped analysts’ projections as advertisers boosted spending to reach consumers during an extended holiday shopping season.

Sam Neuman jokes that he doesn't casually throw off his coat when he gets home at night -- it would take up half his apartment.

New York City’s first “micro-unit” building will have apartments as small as 250 square feet and pantries that pull out from the wall, New York City Mayor Michael Bloomberg announced Tuesday.

Oil increased to a four-month high as German investor confidence climbed more than economists expected and a Bloomberg survey showed that international optimism about equities gained.

McDonald's and one of its franchise owners agreed to pay $700,000 to members of the Muslim community to settle allegations a Detroit-area restaurant falsely advertised its food as being prepared according to Islamic dietary law.

As Jersey shore towns spend millions to rebuild boardwalks wrecked by Superstorm Sandy, some are opting for an additional layer of protection in the form of steel sea walls placed between the boards and the shoreline.

KB Home is teaming up with Nationstar Mortgage LLC to create a new mortgage company, as the real estate market makes a steady recovery.

Wal-Mart Stores Inc. has alerted its global suppliers that it will immediately drop them if they subcontract their work to factories that haven't been authorized by the discounter.

The public remains obsessed with ending “too big to fail,” the unstated policy in which the federal government rescues the biggest banks to prevent financial disaster. With the imminent retirement of U.S Treasury Secretary Timothy Geithner, who masterminded bailouts while serving as New York Federal Reserve president and later at Treasury, bloggers are firing up another rhetorical fusillade against the Geithner-era bailouts.

Delta Air Lines Inc. said Tuesday that its fourth-quarter profit was nearly wiped out by Superstorm Sandy and special charges.

When I saw Alexis Haller last week, he looked much as I remembered him from college: just more tired, and a lot sadder. It wasn’t the reunion either of us would have wanted.

President Barack Obama’s speech Monday made — or tried to make — two different points, both concerning the definition of “rights.” Although couched in the kind of president-ese appropriate to such an occasion, both goals were easy to spot, and both are parts of a solidly liberal vision of society and government.

U.S. sales of previously occupied homes dipped in December from November, in part because of a limited supply of available homes. But for all of 2012, sales rose to their highest level in five years,

Stock futures are mixed with U.S. companies posting varying quarterly results.

Higher sales helped Johnson & Johnson post a much bigger fourth-quarter profit that a year ago, when a slew of charges depressed results.

SAN FRANCISCO (AP) _ Netflix Inc.'s fourth-quarter report is expected to show the video subscription service ended 2012 the way it started it -- with a loss caused by rising costs for Internet licensing fees and an expansion into other countries beyond the U.S.

Jan. 22 (Bloomberg) -- Oil increased as German investor confidence climbed to a 2 1/2-year high and a Bloomberg survey showed that international optimism about equities gained.

Jan. 22 (Bloomberg) -- Research In Motion Ltd. jumped after Chief Executive Officer Thorsten Heins reiterated that the BlackBerry maker is considering strategic options, including a sale of its hardware production unit.

Hot Topic's chief financial officer, Jim McGinty, has resigned.

Jan. 22 (Bloomberg) -- Jack Lew’s first act once he becomes U.S. Treasury secretary will be to tell a lie.

The price of oil rose above $96 a barrel on Tuesday as global economic reports remain generally positive.

The White House says a House Republican bill to extend the government's borrowing authority for three months still faces concerns in Congress but press secretary Jay Carney says that if it reaches President Barack Obama's desk, “he would not stand in the way of the bill becoming law.”

Jan. 22 (Bloomberg) -- Microsoft Corp., the world’s largest software maker, said its Surface tablet computer running the new Windows 8 Pro software will be available Feb. 9, the first versions of the machine powered by Intel Corp. chips.

Jan. 22 (Bloomberg) -- KB Home, a Los Angeles-based homebuilder, is forming a home-loan company for its buyers with Nationstar Mortgage LLC.

Jan. 22 (Bloomberg) -- Mortgage revenue at the four largest U.S. lenders is surpassing the costs of faulty home loans and foreclosures from the housing boom as Federal Reserve and government policies help fuel the recovery.

Jan. 22 (Bloomberg) -- U.K. Deputy Prime Minister Nick Clegg said he’s “sympathetic” to a bid by a baron’s daughter to inherit her father’s stately home in a parallel with a plotline in television drama “Downton Abbey.”

Jan. 22 (Bloomberg) -- Groupon Inc., the largest provider of online daily deals in the U.S., halted gun-related offers amid nationwide debate about weapons sales following a school massacre in Newtown, Connecticut.

Jan. 22 (Bloomberg) -- Time Warner Cable Inc. has struck a deal with the Los Angeles Dodgers to broadcast the Major League Baseball team’s games, two people familiar with the matter said.

Loews Hotels & Resorts said Tuesday that it will buy The Back Bay Hotel in Boston from The Doyle Collection for an undisclosed price.

Shares of State Street hit their highest level in more than four years on Tuesday as investors continued to support a move to cut its staff and expenses. The custody bank's gains were helped by a rating and price target boost from an analyst, who cited the latest cost-cutting efforts.

Freeport-McMoRan Copper & Gold Inc. said Tuesday that fourth-quarter profit rose 16 percent on a combination of rising sales and lower copper-production costs, and the mining company's stock rose.

Groupon has halted gun-related promotions such as deals for shooting ranges and concealed weapons courses in the wake of last month's massacre in Newtown, Conn.

For many investors, Apple's best days are behind it. Competitors are catching up, they believe, and the latest iPhone is stumbling.

Google says its fourth-quarter earnings rose 7 percent as online advertisers spent more money in pursuit of holiday shoppers.

Packaging Corp. of America's net income climbed 54 percent in its fourth quarter, buoyed by higher prices and sales as well as lower costs for recycled fiber and energy.

Five years after the start of the Great Recession, the toll is terrifyingly clear: Millions of middle-class jobs have been lost in developed countries the world over.

Jan. 22 (Bloomberg) -- Spirit Realty Capital Inc. rose the most since its initial public offering after agreeing to merge with Cole Credit Property Trust II Inc. in a deal that would increase its properties, which are leased to individual tenants.

Jan. 22 (Bloomberg) -- Wal-Mart Stores Inc.’s new zero- tolerance policy for suppliers that source garments from unauthorized factories won’t make workers safer, a labor-rights activist said.

Railroad operator CSX Corp. says continued weak coal demand contributed to a 3 percent decline in fourth-quarter net income. The results still beat Wall Street expectations as other sectors improved.

Seeking to regain their budget footing versus President Barack Obama, Republicans controlling the House are moving quickly to try to defuse a potential debt crisis with legislation to prevent a first-ever U.S. default for at least three months.

Jan. 22 (Bloomberg) -- Advanced Micro Devices Inc., the second-largest maker of processors for personal computers, reported fourth-quarter revenue that topped analysts’ estimates, helped by sales of chips that run servers.

Jan. 22 (Bloomberg) -- DuPont Co., the biggest U.S. chemical maker by market value, reported fourth-quarter earnings that exceeded analysts’ estimates as demand climbed for plastics used in autos.

IBM says its fourth-quarter earnings grew 6 percent even as revenue was largely flat.

Jan. 22 (Bloomberg) -- Time Warner Cable Inc. has struck a deal with the Los Angeles Dodgers to broadcast the Major League Baseball team’s games, two people familiar with the matter said.

Jan. 22 (Bloomberg) -- CSX Corp., the largest East Coast rail carrier, posted higher fourth-quarter profit than analysts estimated as container-car and merchandise shipments rose.

The U.S. Department of Justice has filed notice that it is joining sports leagues' effort to stop New Jersey from instituting sports gambling.

Jan. 22 (Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook is feeling the heat.

Jan. 22 (Bloomberg) -- Wells Fargo & Co., the biggest U.S. home lender, raised its quarterly dividend by 3 cents a share, or 14 percent, to 25 cents.

Jan. 22 (Bloomberg) -- Delta Air Lines Inc. rose to the highest price in two years amid plans to cut seating capacity as much as 4 percent to help temper increased spending on labor and fuel.

Chemical and bioscience company DuPont Co. says weakness in its performance chemicals and electronics and communications businesses, coupled with costs associated with growth initiatives, led to a sharp drop in fourth-quarter income.

Verizon Communications' fourth-quarter loss widened, dragged down by restructuring, pension and Superstorm Sandy costs. The company activated a record number of new devices on its contract-based plans during the period.

Jan. 22 (Bloomberg) -- A gauge of U.S. corporate credit risk increased before existing home sales data that are scheduled to be released at 10 a.m. in Washington.

Jan. 22 (Bloomberg) -- U.S. stock-index futures fell, after benchmark indexes climbed to five-year highs last week, as investors weighed corporate earnings and awaited a report on existing home sales.

Jan. 22 (Bloomberg) -- Everyone should keep gold in their portfolios as the precious metal will be able to offer value to investors even in a worst-case scenario, said Marc Faber, the publisher of the Gloom, Boom & Doom report.

Spanish Economy Minister Luis de Guindos said exceptional demand for a new Spanish 10-year bond Tuesday showed there was renewed confidence in the country's economy.

AT&T said Tuesday that it has reached a deal to buy the Alltel U.S. wireless operations for about $780 million to boost its spectrum in rural areas.

The nation's high school graduation rate is the highest since 1976, but more than a fifth of students are still failing to get their diploma in four years, the Education Department said in a study released Tuesday.

An unexpected slump in U.S. home sales data pushed world markets lower Tuesday as investors also digested an underwhelming Japanese stimulus program and a slew of poor earnings from American companies.

Jan. 22 (Bloomberg) -- Samsung Venture Investment Corp. bought a stake in Canadian security software maker Fixmo Inc. to extend the Asian company’s growth with business and government clients traditionally served by Research In Motion Ltd.

Signature Bank said Tuesday its fourth-quarter net income rose 25 percent, helped by steep growth in loans and deposits.

Waters Corp., which makes products used in drug discovery and development, said Tuesday its net income climbed 28 percent in the fourth quarter on a one-time income tax benefit.

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. 22 (Bloomberg) -- Since the Academy of New Media Middle School in Columbus, Ohio, opened in 2011, it has scraped by, with its principal cleaning toilets and a math teacher pressed into service as school nurse. Only $250,000 in gifts from the Walton Family Foundation keeps the 85-student charter school alive.

As Jersey shore towns spend millions to rebuild boardwalks wrecked by Superstorm Sandy, some are opting for an additional layer of protection in the form of steel sea walls placed between the boards and the shoreline.

The Supreme Court won't hear a challenge to a tough new clean air requirement limiting sulfur dioxide emissions.

Four buses carrying Russian citizens escaping the Syrian civil war crossed into Lebanon on Tuesday, in the first evacuation organized by Moscow since the start of the conflict nearly two years ago.

Malian and French forces pushed into Islamist-held northern Mali, taking control of a town that the armed extremists abandoned after ruling it for four months.

When Jay Mesinger heard about a study seeking golden retrievers to help fight canine cancer, he immediately signed up 2-year-old Louie.

Cyprus insists it will resist privatizing state-owned companies, even if its public debt burden is deemed too heavy to bear once it receives an international bailout package.

The Senate Democratic leader is promising to act this year on legislation that went nowhere in the last Congress, including aid to victims of Superstorm Sandy and financial help for the U.S. Postal Service.

Abortion opponents marked the 40th anniversary of Roe v. Wade on Tuesday with workshops, prayers and calls for more legislation chipping away at the abortion rights the U.S. Supreme Court decision seemed to guarantee.

A group of 11 European Union countries was given the go-ahead Tuesday to work on the introduction of a tax on financial transactions.

A North Carolina college student hit by police gunfire during a shooting outside the Empire State Building argued in a lawsuit Tuesday that the police department and the officers involved need better training to deal with such confrontations in the future.

An Army general brought back from Afghanistan to face court-martial on a series of sexual misconduct charges deferred entering a plea Tuesday.

Arnold Schwarzenegger has called for American leaders to think beyond gun laws in seeking ways to stop shooting tragedies.

Jan. 22 (Bloomberg) -- Two top Republican senators began a fresh effort to dismantle President Barack Obama’s U.S. health- care system overhaul, attempting to succeed where other lawmakers have failed in trying to annul the law.

Tue, Jan 22, 2013