News Archive
National | Mon, Feb 4, 2013

Lunchtime at the flagship In-N-Out Burger restaurant in Baldwin Park, Calif., is a study in efficiency. As the order line swells, smiling workers swoop in to operate empty cash registers. Another staffer cleans tables, asking customers if they’re enjoying their hamburger. Outside, a woman armed with a hand-held ordering machine speeds up the drive-through line.

Microsoft Corp. will introduce computers from Hewlett-Packard Co., Acer Inc. and other manufacturers in the next two months, seeking to make up for the dearth of tablets and touch-screen devices that marred the debut of its flagship Windows 8 software.

Immigration reform is having a “Kumbaya” moment, with support from the White House, a bipartisan contingent in Congress, business and labor.

Jan. 31 (Bloomberg) -- BlackBerry has done a lot right with the Z10, the first smartphone to run its new, bet-the-company operating system.

Shopping mall operator Simon Property Group Inc. said Monday that a key measure of profitability climbed in its fourth quarter as occupancy improved and rents increased.

Orders placed with factories increased less than forecast in December, reflecting a drop in non-durable goods that partly countered gains in construction equipment and computers.

Shares of drugmaker Merck & Co. declined Monday after two analysts downgraded their ratings, mainly due to worries that results of patient studies could hurt prospects for a few drugs and drag down future revenue and profit.

With a partial power outage, an overly excited quarterback and a game that suddenly turned from snoozer to sizzler, CBS had its hands full at the Super Bowl. The game fell short of setting a viewership record, but it stands as the third most-watched program in U.S. television history.

Feb. 4 (Bloomberg) -- Oracle Corp., the second-largest maker of business applications, agreed to acquire Acme Packet Inc. for $2.1 billion, gaining networking gear that helps corporations securely transmit information over the Internet.

Feb. 4 (Bloomberg) -- Gannett Co., which owns 82 U.S. daily newspapers and 23 television stations, fell the most in almost 10 months on concern that TV revenue growth won’t be enough to compensate for weakness in print advertising.

Herbalife on Monday denied a New York Post report that it's the target of a law enforcement investigation, and the Federal Trade Commission said the report may have stemmed from the way it worded “boilerplate language” in a letter to the newspaper.

Feb. 4 (Bloomberg) -- Oil tumbled the most in two months after equities dropped on political turmoil in Europe and as Middle East tensions eased on the prospect of renewed talks between Western countries and Iran.

The housing rebound is broadening to other parts of the U.S. economy, and will likely lend impetus to growth through 2013 and beyond.

Spanish and Italian stocks led markets lower Monday as investors started fretting about the political situation in both countries, with some indexes suffering one of their worst days in months.

Feb. 4 (Bloomberg) -- Treasuries rose, pushing the yield on the 10-year note down from almost 10-month highs, as levels above 2 percent attracted buyers skeptical about the pace of the U.S. economic recovery.

U.S. factory orders increased in December even though companies trimmed their orders for goods that signal investment plans.

Feb. 4 (Bloomberg) -- U.S. stock futures declined, after the benchmark Standard & Poor’s 500 Index jumped to a five-year high, as investors awaited earnings reports.

Feb. 4 (Bloomberg) -- Brent crude retreated from its highest closing level in more than four months in London as the prospect of renewed talks between western governments and Iran spurred speculation that last week’s gains were excessive.

Feb. 4 (Bloomberg) -- A stolen prom kiss and speeding showgirls competed against an unexpected blackout and a clever Oreo post for online fans as the Baltimore Ravens defeated the San Francisco 49ers in the Super Bowl.

A Russian official said Monday that Moscow may soon resume imports of Georgian wine, mineral water and fruit after a seven-year ban, the first tentative step toward repairing the ruptured ties between the two ex-Soviet neighbors.

Feb. 4 (Bloomberg) -- In another sign of investors’ willingness to embrace riskier assets, Institutional Mortgage Capital is meeting potential buyers for the largest commercial mortgage-backed security offering in Canada in five years.

Feb. 4 (Bloomberg) -- The euro fell the most in almost three weeks against the dollar as Italian and Spanish bonds slumped amid political turmoil, damping demand for the shared currency.

Feb. 4 (Bloomberg) -- Long-term unemployment has begun to wane as the U.S. job market recovers and will probably continue to fall, the Federal Reserve Bank of San Francisco found.

Gov. Rick Perry's pet fund that gives taxpayer dollars to high-tech Texas startups is leaving room for $6 million in potential losses due to troubled investments, according to a new state report.

United Technologies may buy back up to 60 million of its shares, replacing an approximately $4.3 billion stock buyback program which began almost three years ago and is nearly spent.

Oil prices fell below $97 a barrel Monday on signs that the U.S. and Iran may restart nuclear negotiations.

Citigroup Inc. on Monday announced the appointment of European banker Luigi de Vecchi as chairman of Continental Europe for Corporate and Investment banking.

Internet radio company Pandora Media has named Michael Herring as its chief financial officer.

Humana Inc. reported a 3.5 percent drop in fourth-quarter net income on Monday as the health insurer absorbed higher claims payments driven by the flu outbreak, which offset continued growth in its lucrative Medicare Advantage membership.

Feb. 4 (Bloomberg) -- Hewlett-Packard Co. will start selling its first Chromebook laptop, entering the market for low-priced portable computers running an operating system from Google Inc. that emphasizes working on the Web.

Consumer products company Clorox's fiscal second-quarter net income rose 17 percent, bolstered by price hikes.

Feb. 4 (Bloomberg) -- Bank of America Corp. is seeking to trade bigger blocks of shares for mutual funds and institutional investors by finding new ways to connect orders across the company’s equities-trading desks.

Feb. 4 (Bloomberg) -- Europe’s wireless carriers are falling behind their U.S. rivals in efforts to boost tariffs as they introduce faster service, with price cuts in France and Britain indicating phone bills will shrink further.

Cree Inc., which makes LED products, said Monday that it appointed Mike McDevitt executive vice president and chief financial officer, effective immediately.

McDonald's says it is offering its first new Happy Meal entree in a decade: Fish McBites.

Feb. 4 (Bloomberg) -- Rafael Nadal is starting over with his tennis career, and his business affairs.

Feb. 4 (Bloomberg) -- Even after the worst start for Treasuries since 2009, derivatives traders are signaling there’s little chance of a bear market in bonds for the next three years as Federal Reserve Chairman Ben S. Bernanke fights unemployment.

Feb. 4 (Bloomberg) -- A Chinese-owned company barred by the Obama administration from developing an Oregon wind farm won a temporary court order blocking the sale of collateral it pledged to buy assets for the project.

Feb. 4 (Bloomberg) -- Caesars Entertainment Corp., the largest owner of U.S. casinos, rose the most in almost two months after saying it may raise money by selling a stake in its online operation and two other properties.

Shares of Cyberonics Inc. rose Monday on news that a former employee had dropped his lawsuit against the neurological device maker.

Shares of Research In Motion Ltd., the maker of the BlackBerry, jumped Monday after an upgrade by a Wall Street analyst. It was the first day the shares traded under their new ticker symbol “BBRY” on the Nasdaq. The company is renaming itself “BlackBerry,” but the change hasn't been formalized yet.

Feb. 4 (Bloomberg) -- Herbalife Ltd. fell after the Federal Trade Commission released a file of complaints against the supplement maker.

A U.S. business group is voicing concern over market access barriers in China, which it says likely contributed to a drop in foreign investment there last year.

Feb. 4 (Bloomberg) -- The federal judge overseeing a settlement between International Business Machines Corp. and U.S.regulators over foreign bribes said he won’t drop demands for future reports of possible wrongdoing by the company.

Feb. 5 (Bloomberg) -- Australian housing developers are resorting to discounts, gift cards and help with mortgage payments to compete for dwindling buyers as home sales slow.

Feb. 4 (Bloomberg) -- Twelve years after the U.S. switched to 1-cent increments for stock trading to save investors money, regulators and broker-dealers are considering a test of larger tick sizes.

Feb. 4 (Bloomberg) -- Hartford Financial Services Group Inc., the insurer that sold life units, said the company will buy back shares and reduce debt after posting a fourth-quarter loss on claims from superstorm Sandy.

The U.S. government is expected to file civil charges against Standard & Poor's Ratings Services, alleging that it fraudulently gave high ratings to mortgage debt that later plunged in value and helped fuel the 2008 financial crisis.

Feb. 4 (Bloomberg) -- Facebook Inc. tumbled the most in more than four months after predicting that the average revenue per user will decline as the social network expands in regions such as Asia where advertising spending is lower.

British soldiers in Afghanistan have been issued with surveillance drones so small they can fit in the palm of a squaddie's hand.

Japan Airlines, which made a comeback from bankruptcy last fall, says its net profit fell 3.7 percent in the first three quarters of 2012, but the carrier raised its full-year profit estimate despite the impact from its grounded Boeing 787s.

Feb. 4 (Bloomberg) -- Herbalife Ltd. fell in early trading after the New York Post reported the supplement-maker was the subject of a law-enforcement probe and the target of multiple complaints filed with the Federal Trade Commission.

The federal government's push for drastic reforms at chronically low achieving schools has led to takeovers by charter operators, overhauls of staff and curriculum, and even school shutdowns across the country.

Food distributor Sysco Corp.'s fiscal second-quarter net income dropped 11.6 percent as it continued to sustain heavy costs aimed at turning around its business.

Oracle will Acme Packet Inc., which makes equipment for telecommunications companies, for about $2.1 billion.

Shares of Wal-Mart slipped 2 percent in early trading Monday and J.P. Morgan downgraded its stock, voicing concern that growing economic pressures will weigh on its momentum.

The Greek government says its painful austerity drive is paying off, with the budget deficit reduced to 6.6 percent of annual output in 2012 from 9.4 percent a year earlier.

Feb. 4 (Bloomberg) -- The jughandle, a New Jersey highway oddity that forces drivers to turn right when they want to go left, would become a design relic under a lawmaker’s proposal.

Feb. 4 (Bloomberg) -- Switzerland’s housing market moved further into the “risk zone” at the end of 2012, increasing pressure on authorities to tighten capital rules for the country’s banks to curb a property boom.

Feb. 4 (Bloomberg) -- Aldar Sorouh Properties PJSC, the company resulting from the planned merger of two Abu Dhabi developers, is overvalued as the emirate’s real estate market suffers from excess supply, Bank of America Merrill Lynch said.

Feb. 4 (Bloomberg) -- JPMorgan Chase & Co. is giving its wealthiest clients the chance to invest in the single-family rental market after other investments linked to the U.S. housing recovery jumped in value.

Feb. 4 (Bloomberg) -- When a power company tried to run cables over land owned by Larry Salois’s mother near Cut Bank, Montana, the native American fought the $400 million project.

The former top Navy SEAL sniper who authorities say was killed at a Texas shooting range was devoted to maintaining camaraderie and helping his fellow veterans find their way after leaving active duty.

an admired but tough, colorful former mayor who will be honored at his funeral by former President Bill Clinton.

South Africa's labor minister has announced a new minimum wage for farm workers after violent strikes swept through portions of the country.

A Pakistani girl shot by the Taliban has made her first video statement since she was nearly killed, saying Monday that she is recovering.

A suicide bomber struck a group of anti-al-Qaida fighters north of Baghdad on Monday, killing at least 21 people and wounding 44 in an attempt to destabilize the government and shake confidence in Iraqi security forces, officials said.

Venezuelan President Hugo Chavez is getting “much better” after undergoing a fourth cancer operation in December, according to the president's friend and retired revolutionary leader Fidel Castro in comments published Monday in Cuban newspapers.

Mayor Mitch Landrieu says he doesn't think the 34-minute power failure during the Super Bowl will hurt New Orleans' chances of getting the NFL's championship game in 2018.

Supersonic skydiver Felix Baumgartner was faster than he or anyone else thought when he jumped from 24 miles up.

Mon, Feb 4, 2013