News Archive
National | Wed, Jan 23, 2013

The flu season has created a scramble for New Jersey Limo Bus & Limousine.

McDonald’s Corp., the world’s largest restaurant chain by sales, said fourth-quarter profit rose 1.4 percent as its dollar menu and McRib sandwich helped U.S. sales.

Jan. 23 (Bloomberg) -- The U.S. Defense Department plans to lift its ban on women serving in direct combat roles, opening hundreds of thousands of military jobs to them for the first time.

A computer virus that spread to more than a million computers worldwide, including some at NASA, and produced at least $50 million in illegal profits or losses to victims should be a “wake-up call” for banks and consumers unaware of the threat posed by Internet criminals, a prosecutor said Wednesday.

Exports from the United States are set to pick up in 2013 after slumping last quarter as global growth strengthens from Asia to Latin America, giving American manufacturers a boost.

KB Home shares surged to a new high on Wednesday, as investors weighed preliminary figures from the homebuilder showing orders for new homes are up 54 percent so far in its fiscal first quarter.

Netflix's Internet video service warded off stiffer competition to add 2 million U.S. subscribers during the final three months of the year to produce an unexpected profit for the company.

The International Monetary Fund is projecting a modest rise in global economic growth for 2013, but also warning that problems in the eurozone and the United States could derail momentum.

Leading bankers at the World Economic Forum in Davos, Switzerland, are on the defensive amid demands to regulate their industry more closely following the financial crisis that battered the global economy.

Shares of General Dynamics fell more than 4 percent in morning trading Wednesday after the aerospace and defense company reported a huge fourth-quarter loss due to charges related to slowing defense spending.

Clients of the largest U.S. banks withdrew funds this month at the fastest weekly pace since the Sept. 11 attacks as a deposit-insurance program ended and customers tapped into their year-end cash hoards.

Volkswagen's newest Jetta has the highest mileage rating ever -- a combined 45 miles per gallon in city and highway travel.

Julius Genachowski, chairman of the Federal Communications Commission, made an important speech last week calling for at least one “gigabit city” in all 50 states by 2015. For the United States to maintain its leadership in innovation, he said, a critical mass of communities must have networks capable of ultrahigh Internet-access speeds.

Jan. 23 (Bloomberg) -- International Business Machines Corp., the world’s biggest computer-services provider, rose the most in a year after forecasting profit that exceeded analyst estimates.

Jan. 23 (Bloomberg) -- Oil dropped the most in a month in New York, widening its discount to Brent as capacity on the Seaway pipeline was reduced and the International Monetary Fund cut its global growth forecasts.

U.S. home prices climbed 5.6 percent in the 12 months through November as buyers competed for a dwindling inventory of properties, according to the Federal Housing Finance Agency.

Strong earnings from tech giants nudged the stock market higher Wednesday. Investors also drew encouragement from a vote by the House of Representatives to let the government keep paying all its bills for another four months.

Toll Brothers Inc., the largest U.S. luxury home builder, is beginning development of high-end college dormitories, according to Chief Executive Officer Douglas Yearley Jr.

McDonald's used the Dollar Menu to lift its profit in the latest quarter. Now the world's biggest hamburger chain is turning to a pipeline of new menu items to boost slumping sales, starting with “Fish McBites.”

Stock markets traded cautiously on Wednesday ahead of a U.S. vote on raising the nation's borrowing limit temporarily.

The House overwhelmingly passed a bill Wednesday to permit the government to borrow enough money to avoid a first-time default for at least four months, defusing a looming crisis and setting the stage for a springtime debate over taxes, spending and the deficit.

One criticism of the president that permeated the nonstop socializing around the inauguration was that a lack of socializing by Barack Obama is to blame for much of the partisan rancor crippling Washington.

Jan. 23 (Bloomberg) -- Mortgage applications in the U.S. increased for a third straight week as purchasing and refinancing advanced.

Jan. 23 (Bloomberg) -- Oil traded near the highest price in four months in New York on speculation that the U.S. will lift its debt limit, offsetting forecasts that fuel inventories increased in the world’s largest crude consumer.

Jan. 23 (Bloomberg) -- The Republican-led U.S. House plans a vote today to temporarily suspend the nation’s borrowing limit, removing the debt ceiling for now as a tool for seeking deeper spending cuts.

Jan. 23 (Bloomberg) -- Jaguar Land Rover Plc, the luxury- vehicle unit of Tata Motors Ltd., said fiscal third-quarter profit growth probably stalled because of currency shifts and its cheaper Evoque model attracting a higher share of buyers.

Jan. 23 (Bloomberg) -- United Technologies Corp. posted higher fourth-quarter profit than analysts estimated as the acquisition of aerospace-parts maker Goodrich Corp. buoyed performance.

H.J. Heinz Co. said that an early payment to a company it bought a Chinese soy sauce maker from in 2010 will hurt its fiscal third-quarter earnings by 4 cents per share.

Quest Diagnostics Inc. said Wednesday its net income fell 71 percent in the fourth quarter as it decided to sell two businesses and dealt with the effects of Superstorm Sandy.

New York City's limit on the size of sugary drinks is an “extraordinary infringement” on consumer choice, a lawyer for the American Beverage Association and other critics said in court on Wednesday.

Software company Blackbaud said Wednesday that Marc Chardon will step down as the company's President and CEO after seven years on the job.

3M has already tempered expectations for 2013. So investors may be happy if the diversified manufacturer just says it will meet its modest sales growth forecasts when it reports fourth-quarter results on Thursday.

Boise Cascade LLC, which makes wood products and building materials, said Wednesday that it plans to sell 11.8 million shares of its common stock in an initial public offering that could generate up to $243.5 million in proceeds.

Jan. 23 (Bloomberg) -- Symantec Corp., the biggest maker of antivirus software, advanced to the highest price since 2008 after reporting fiscal third-quarter sales and profit that beat estimates, aided by strong demand for data-management tools.

The GOP-led Washington state Senate Commerce and Labor Committee will on Wednesday consider five bills intended to save businesses money by changing workers' compensation rules.

Gov. Gary Herbert's long-awaited vision for outdoor recreation stands by the desire to take control of federal lands while laying out a broad-stroke plan to preserve the state's natural jewels and cultivate outdoor recreation as one of the pillars of Utah's economy.

Jan. 23 (Bloomberg) -- New Yorkers Paul and Angelica Kashman, declared in default on their mortgage in July 2010 and foreclosed on by Wells Fargo & Co. in February 2011, say they aren’t deadbeats.

Jan. 23 (Bloomberg) -- Investors from TCW Group Inc. to Metacapital Management LP are growing more cautious on the riskier tiers of U.S. mortgage bonds as a rally in subprime debt accelerates after gains of more than 41 percent last year.

KB Home shares sank in after-hours trading Tuesday after the builder said it expects growth in new home orders to slow in the near future and announced stock and debt offerings.

Jan. 23 (Bloomberg) -- Intuitive Surgical Inc., the maker of the da Vinci robotic system, rose the most in two years after fourth-quarter profit and sales exceeded analysts’ estimates.

Jan. 23 (Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said extraordinary measures by central banks kept the financial crisis from worsening and urged governments to devise policies for growth.

The eurozone failed to reduce its government debt in the third quarter of last year, as meager growth offset efforts by several of the bloc's 17 nations to improve their finances by cutting spending and raising taxes, according to official data released Wednesday.

Jan. 23 (Bloomberg) -- General Electric Co. settled a lawsuit filed by the Federal Housing Finance Agency over losses on mortgage bonds sold to Freddie Mac, the regulator said.

Oil declined the most this year Wednesday on reports that the amount of oil moving through a key pipeline to the Gulf Coast had been cut in half.

When Massachusetts adopted its landmark health care law in 2006, the goals were ambitious and the potential solutions complex.

Drugmaker Amgen Inc. is reporting a 16 percent drop in fourth-quarter profit, as higher costs for production, marketing, research and other items offset higher sales for many of its biologic medicines.

In his nationwide effort for tighter gun control, Mayor Michael Bloomberg attributes historic crime lows in New York to strict gun laws that are strictly enforced. “If we are serious about protecting lives,” he wrote in a recent newspaper editorial, “we have to get serious about enforcing our laws.”

Jan. 23 (Bloomberg) -- The family of Junior Seau, the all- pro linebacker who committed suicide in May, sued the National Football League, claiming his death resulted from repeated head injuries he suffered on the field.

Jan. 23 (Bloomberg) -- Toll Brothers Inc., the largest U.S. luxury-home builder, is beginning development of high-end college dormitories, according to Chief Executive Officer Douglas Yearley Jr.

Eastman Kodak Co. said Wednesday that it has received court approval to borrow up to $844 million to finance the rest of its restructuring. The company wants to emerge from bankruptcy protection in the middle of the year.

launched a new online service this week for storing and sharing files.

A gossip website operator defended himself Wednesday against a defamation lawsuit by arguing that a former Cincinnati Bengals cheerleader featured in posts on the site is a public figure.

Jan. 24 (Bloomberg) -- When Apple Inc. released new maps for Russia in September, customers wondered why their iPhones showed Moscow streets named after Soviet-era leaders two decades after they had been rechristened.

Jan. 23 (Bloomberg) -- Valero Energy Corp. reached the highest price since July 2008 as the U.S. benchmark crude fell after Enterprise Product Partners LP reduced flows on its Seaway pipeline.

Jan. 23 (Bloomberg) -- KB Home, a Los Angeles-based homebuilder, rose to an almost three-year high after reporting a 54 percent increase in orders for the first seven weeks of its fiscal first quarter.

Jan. 23 (Bloomberg) -- Motorola Solutions Inc. plans to introduce a rugged handheld computer based on Microsoft Corp.’s Windows 8 software, providing an alternative to laptops for police, factory employees and other blue-collar workers.

The Black Keys are remaining vigilant when it comes to sound-a-like songs.

Jan. 24 (Bloomberg) -- If the attendees at the World Economic Forum in Davos, Switzerland, this week are the story of people who lead in politics and business or aspire to, the names of those not making the trip tell a different tale.

Obama administration officials struggled Wednesday to defend their initial statements that the Boeing 787 Dreamliner is safe while promising a transparent probe of mishaps involving the aircraft's batteries.

Jan. 23 (Bloomberg) -- Russia President Vladimir Putin offered financial and humanitarian aid to Lebanon to help deal with an influx of refugees from Syria’s 22-month conflict.

Part-nationalized Lloyds Banking Group says it is eliminating 940 jobs in a continuing reduction of its payroll.

WellPoint Inc.'s fourth-quarter earnings jumped 38 percent compared to the final quarter of 2011, when the nation's second largest health insurer incurred a big hit from its Medicare Advantage business.

Jan. 23 (Bloomberg) -- A gauge of U.S. corporate credit risk increased as the Republican-led U.S. House of Representatives prepares to vote to suspend the nation’s borrowing limit until May.

Jan. 23 (Bloomberg) -- Gold swung between gains and declines near the highest price in a month in New York before the U.S. House of Representatives votes today to suspend the country’s borrowing limit.

United Technologies Corp. posted a 26 percent drop in fourth-quarter net income from continuing operations on Wednesday due to costs for restructuring, completing its $18.4 billion Goodrich acquisition and other one-time items.

Best Buy Co. has enlisted actress and comedian Amy Poehler to get its brand message across in a humor-focused spot during the Super Bowl XLVII.

Sacramento Mayor Kevin Johnson had a stern warning for Seattle SuperSonics fans who are excited about the prospect of the NBA returning to the Puget Sound next season.

Jan. 23 (Bloomberg) -- Microsoft Corp., after straining ties with computer makers by releasing its own tablet computer last year, risks further fissures with partners by planning to make a strategic investment in Dell Inc.

Per-seat passenger revenue _ a key performance indicator for airlines -- rose 2.2 percent. Occupancy rose 2 percentage points to 83.9 percent.

Check Point Software Technologies Ltd.'s net income rose 9 percent in the fourth quarter, as it generated more revenue from existing customers.

Jan. 23 (Bloomberg) -- Google Inc., owner of the world’s largest search engine, rose the most since 2011 after reporting profit that topped analysts’ estimates as advertisers boosted spending to reach consumers during the holiday season.

Google says it is fielding more legal demands from governments around the world seeking to learn more about the people using its Internet search engine, email and other services.

Jan. 23 (Bloomberg) -- Cisco Systems Inc., the world’s largest maker of networking equipment, agreed to buy Intucell Ltd. for about $475 million, gaining technology that helps wireless carriers manage their networks.

Abbott Laboratories said Wednesday its profit fell 35 percent in the fourth quarter on costs from the spin-off of its drug business into the new company Abbvie.

CSX Corp. expects 2013 to be another challenging year for the railroad, with continued weak coal demand but growth in other areas likely to offset lower coal volume.

Shares of Coach Inc. plunged Wednesday after the upscale handbag seller said a challenging economy and heavy price-cutting by competitors weighed on its fiscal second-quarter results.

New Mexico law will protect spacecraft part suppliers from damage lawsuits by passengers on space tourism flights launched from the state under a compromise proposal announced Tuesday by Democratic legislative leaders.

Stock futures are mixed as several strong earnings reports from U.S. corporations play out against the backdrop of another potential debt crisis in Washington.

A parachute built into an airplane that went down in Connecticut is being credited with saving the lives of the three men on board.

Jan. 23 (Bloomberg) -- Today, the Bureau of Labor Statistics released its annual summary of unionization in the U.S. It reports that in 2012, the union-membership rate of wage and salary workers was 11.3 percent, compared with 11.8 percent in 2011. The trend has been downward for some time: Fifty years ago, the figure was almost 30 percent.

The Navy says its sailors in the United States will be subject to random blood-alcohol tests starting next month.

Wed, Jan 23, 2013