News Archive
National | Tue, Feb 12, 2013

A man police believe to be the fugitive ex-Los Angeles officer wanted in three killings barricaded himself inside a cabin after a shootout in a Southern California mountain town Tuesday, wounding two officers and raising the possibility the nearly week-old hunt for America's most wanted man may be coming to an end.

A shareholder rebellion against Dell's proposed $24.4 billion sale to its founder and other investors is gaining more support, fueling a belief that the struggling personal computer maker will have to wrangle a higher price to get the deal done.

Comcast said Tuesday that it's buying the rest of NBCUniversal from General Electric for $16.7 billion, doing so several years early as the company takes advantage of low borrowing costs and what CEO Brian Roberts called a “very attractive price.”

Job openings dropped in December from a four-year high, a sign employers put expansion plans on hold as lawmakers wrangled over tax and spending programs.

Monsanto Co. squares off next week against a 76-year-old Indiana farmer in a U.S. Supreme Court hearing with implications spanning industries from engineered fish to biotechnology medicines.

The Dow rose to its highest close of the year Tuesday, ending 146 points from a record. Stocks gained after impressive results from two big consumer brands.

Feb. 12 (Bloomberg) -- Dell Inc.’s plan to be taken private lacks support from two of the company’s largest shareholders after T. Rowe Price Group Inc. said it won’t back the $24.4 billion transaction.

Feb. 12 (Bloomberg) -- Mortimer Caplin, who is stepping down from the board of Danaher Corp. at age 96, said the departure will allow him to spend more time on two of his passions: tax law and the University of Virginia.

The White House cybersecurity executive order, to be unveiled Wednesday by President Barack Obama's top security officials, will be the most comprehensive plan yet for confronting electronic attacks on America's computer networks, or at least a good-faith effort amid an alarming tide in industrial espionage in the past year that experts blame mostly on China.

Feb. 12 (Bloomberg) -- The lead surgeon-designer for Johnson & Johnson’s recalled metal-on-metal hip implants testified that he wouldn’t have sold the device if he knew it would have a failure rate of 20 percent or more.

The price of oil rose Tuesday as OPEC upgraded its forecast for global demand and the Group of Seven industrial nations pledged not to devalue their currencies.

Standard & Poor’s employees sang and danced to a mock song inspired by “Burning Down the House,” and joked about the company’s willingness to rate deals “structured by cows” before the 2008 global financial collapse, according to a U.S. government lawsuit.

Bill Heaney gets about two calls a day from people who bought foreclosed, vacant Detroit homes that lack basic plumbing -- victims of thieves who strip pipes, water heaters and toilets.

Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.

Avon Products Inc. was the biggest gainer of the Standard & Poor's 500 index Tuesday after the direct seller of beauty products' adjusted fourth-quarter profit came in well ahead of Wall Street predictions. That prompted hopes that the company is in recovery mode.

LANGLEY AIR FORCE BASE, Va. (AP) — The Pentagon for the first time is considering scaling back the massive buildup of drones it has overseen in the past few years. It would be both to save money and to adapt to changing security threats and new areas of operation — such as east Asia — where drones are more likely to be detected and shot down.

helped more than offset declines in its home market.

A pledge by the Group of Seven most powerful economies to not intentionally weaken their currencies pushed stocks higher on Tuesday while dragging the dollar lower against the Japanese yen and the euro.

The automatic budget cuts due to go into effect next month are “the collateral damage of political gridlock,” a senior Pentagon official told a congressional committee Tuesday.

Feb. 12 (Bloomberg) -- Job openings in the U.S. dropped in December from a more than four-year high, showing further progress in the labor market will be slow to develop.

Be honest. Or be gone.

Feb. 12 (Bloomberg) -- West Texas Intermediate oil in New York climbed to the highest level in more than a week as OPEC boosted a demand forecast for its crude this year and the Group of Seven pledged to avoid devaluing exchange rates.

Ticketmaster will now allow fans to transfer tickets to friends or family digitally at no extra charge.

Marijuana may be coming out of the black market in Colorado and Washington state, but the drug, at least for now, will retain a decidedly underground feel: Users may not know what's in it.

Marsh & McLennan Cos. Inc. reported Tuesday that its revenue and profit for the fourth quarter met market expectations for the consulting and professional services firm.

Standard & Poor's is prepared to spend years beating back a federal lawsuit that accuses the company of giving falsely high ratings to mortgage investments that helped trigger the financial crisis, executives said Tuesday.

Fidelity National Information Services Inc. said Tuesday that its fourth-quarter net income climbed 17 percent, free of impairment charges as revenue for its financial solutions segment increased.

Feb. 12 (Bloomberg) -- Lions Gate Entertainment Corp., the independent film studio behind “The Hunger Games,” reported a quarterly profit that beat analysts’ estimates on ticket sales for the final “Twilight” and improved international results.

Feb. 12 (Bloomberg) -- Gamesa Corp. Tecnologica SA, Spain’s biggest wind turbine-maker, expects a net loss of about 640 million ($861 million) euros in 2012 after one-time expenses of 585 million euros from its cost-cutting program.

Shares of Huntsman slid Tuesday after the chemical maker posted a fourth-quarter loss, hurt by restructuring costs and a loss on paying down debt.

Yahoo says it has bought the startup Alike, the creator of a mobile app that helps people find nearby restaurants and places they'll like.

Feb. 12 (Bloomberg) -- Yahoo! Inc. Chief Executive Officer Marissa Mayer said she plans to focus on mobile applications and strengthening ties to Facebook Inc. as she tries to drive a turnaround at the biggest U.S. Web portal.

Feb. 12 (Bloomberg) -- The yen gained versus the dollar and euro after unnamed Group of Seven officials gave conflicting signals over whether member nations are concerned that excess moves in the Asian currency will endanger trade relations.

The federal government reported a rare surplus for January and is on track to run the lowest annual deficit since President Barack Obama took office.

Feb. 13 (Bloomberg) -- CSL Ltd., Australia’s biggest pharmaceutical company, reported a 24 percent increase in first- half profit as demand for blood-derived treatments increased.

Health insurer WellPoint is picking a veteran hospital executive who has never run a public company to become its next CEO.

Feb. 12 (Bloomberg) -- Citigroup Inc. Chief Financial Officer John Gerspach said the lender’s securities unit did well in January and that activity in trading and banking businesses looks similar to how last year began.

Feb. 12 (Bloomberg) -- Avon Products Inc. rose the most in almost four decades after fourth-quarter adjusted profit topped analysts’ estimates and the company said it would evaluate alternatives for the Silpada jewelry unit.

Feb. 12 (Bloomberg) -- Comcast Corp., the largest U.S. cable company, will buy out General Electric Co.’s stake in NBC Universal for $16.7 billion in cash.

Frederick Scott Salyer has been described as one of the most influential men in California's agriculture industry, but on Tuesday he learned that he'll soon become just another inmate in the federal prison system.

Shares of Albany Molecular Research climbed Tuesday after the drug developer turned a fourth-quarter profit, compared to a loss the year before.

Feb. 12 (Bloomberg) -- Clearwire Corp., the wireless- Internet provider that agreed to a Sprint Nextel Corp. takeover in December, reported a wider loss than estimated and an 8 percent decline in subscribers.

Feb. 12 (Bloomberg) -- The owner of the former presidential yacht Sequoia and a lender agreed to a 60-day cease-fire in a dispute over a $5 million loan.

Feb. 12 (Bloomberg) -- Coca-Cola Co., the world’s largest soft-drink maker, said fourth-quarter profit rose 13 percent as sales of non-carbonated drinks in North America such as Powerade helped counter lower demand in Europe.

Comcast Corp.'s fourth-quarter net income rose 18 percent, helped by improvements in its broadcast operations and growth in its high-speed Internet services.

Yahoo CEO Marissa Mayer thinks the Internet company will be able to please more people with fewer smartphone applications.

Buffalo Wild Wings Inc. shares fell in after-hours trading Tuesday after the restaurant chain's fourth-quarter profit came in below the market's expectations.

J.C. Penney Co. has amended its bank credit facility to increase its borrowing capacity as it looks to finance its multiyear transformation.

the building and the TV business.

Shares of Facebook Inc. fell Tuesday after two analysts downgraded the stock amid concerns about the company's ability to grow ad revenue quickly enough, especially on mobile devices.

Employers advertised fewer jobs in December and cut back on hiring, suggesting many were cautious at the end of the year.

Irish Finance Minister Michael Noonan has voiced his opposition to any proposal that the European Central Bank should intervene to get the value of the euro down.

Feb. 12 (Bloomberg) -- Treasuries were little changed before the government sells $32 billion of three-year notes, the first of three auctions of coupon-bearing debt this week.

A U.N. agency that sets global aviation safety standards is moving to prevent aircraft batteries like the one that caught fire on a Boeing 787 last month from being shipped as cargo on passenger planes, people familiar with the effort said.

After a 30-year absence, Italy's storied Alfa Romeo brand will return to the United States later this year with a new two-seat compact sports car.

The European Central Bank's president, Mario Draghi, said Tuesday it is “inappropriate” and “fruitless” for politicians to push the ECB to influence the euro's exchange rate.

ABC and Univision have announced the name of their joint venture that will provide English-language news programming aimed at the growing Latino demographic: Fusion.

Shares of Level 3 slumped after the Internet services and telecommunications company posted its 16th straight quarterly loss in the October-December period.

Britain's financial regulator fined Swiss bank UBS 9.45 million pounds ($14.8 million) Tuesday for exposing customers to unacceptable risk in the selling of an investment fund and for failing to deal properly with complaints that followed.

Virginia electronic books consumers will receive $680,000 under a nationwide settlement with a major book publisher over allegations of price fixing.

Reynolds American, the nation's second-biggest tobacco company, saw its fourth-quarter profit fall 54 percent on pension and trademark-related charges and other costs.

Martin Marietta Materials Inc. said Tuesday that its fourth-quarter net income jumped 45 percent, helped by a rebound in construction activity that boosted demand for building materials.

HCP Inc., a real estate investment trust that focuses on health care facilities, said Tuesday its funds from operations more than doubled in the fourth quarter, as rental and related revenues climbed.

Feb. 11 (Bloomberg) -- Dish Network Corp. is seeking $152 million from Walt Disney Co.’s ESPN for allegedly breaching a contract by offering competitors including Comcast Corp. better licensing terms for sports programming.

Feb. 12 (Bloomberg) -- The owner of the former presidential yacht Sequoia was mired in debt and facing litigation when he sought out a $5 million loan from FE Partners LLC to fund maintenance on the vessel, the lender said in court papers.

Capella Education Co. shares fell in Tuesday trading after the online education company reported a drop in fourth-quarter revenue and profit due to lower enrollments.

Vanda Pharmaceuticals Inc. said Tuesday that it took a wider fourth-quarter loss as it spent more money to develop an experimental sleep-disorder drug, and revenue from a schizophrenia drug slipped.

Feb. 12 (Bloomberg) -- Michael Stern was prepared for a gradual real estate rebound after buying a New York office tower in December 2009, with plans to convert it to condominiums following a housing plunge that sent prices down 31 percent.

Coca-Cola is facing a tough time: people are drinking less soda in the U.S. and Europe and uncertain economic conditions around the world are weighing on the world's biggest beverage maker.

Anger and protests over the execution of a Kashmiri man convicted in a deadly attack on India's Parliament have stirred fears the volatile Himalayan region could again descend into a cycle of violence after two years of relative peace.

Church leaders in the Philippines, Asia's largest Roman Catholic nation, say they are surprised at Pope Benedict XVI's decision to resign but praised his honesty and prayed for an orderly succession.

Pakistani clerics threatened Tuesday to boycott a peace conference slated to be held in Kabul after disputes with a visiting Afghan delegation, underlining the persistent distrust that has long marred the relationship between the two countries.

Thai authorities have tightened security measures at the U.S. Consulate in the northern province of Chiang Mai following reports that it was a possible target of attack from al-Qaida and Salafist terrorist groups this month, officials said Tuesday.

Rain and thunderstorms were likely to complicate work Tuesday to clean up the debris strewn across southern Mississippi by a tornado, which left residents marveling that no one died despite the severity of the destruction.

The original Emancipation Proclamation, a document that changed the lives of countless African-Americans during the Civil War, is going on display in Nashville as the fragile historical document makes its only stop in the Southeast on a 150th anniversary tour.

Iran's Foreign Ministry on Tuesday raised prospects that Tehran may allow inspectors from the U.N. nuclear agency to visit a military site where the country is suspected of conducting nuclear-related experiments.

NATO's governing body is harshly criticizing North Korea's recent nuclear test, calling it “irresponsible” and a flagrant violation of U.N. Security council actions.

Spain's Parliament is expected to agree to debate whether bullfighting should be declared of cultural interest to the entire nation, a move that could eventually knock down a ban on the spectacle in the northeastern region of Catalonia.

Some snow-weary Northeasterners struggled to get back to their weekly routines Tuesday as roads remained slick from the weekend storm and many schools were closed again, and some communities were asking for volunteers to help shovel out the elderly and disabled.

A major Syrian opposition faction has accused the government of a bombing at a border checkpoint, saying it narrowly missed 13 leaders of the group including its president.

Retired Cuban President Fidel Castro complained of a bad knee, weak eyesight and difficulty adjusting to changes in light during a lengthy interview session with state-run media published Tuesday.

The official in charge of the sound system at the Guantanamo Bay war crimes tribunal says the microphones have been changed to address fears of defense lawyers that private conversations are being monitored.

Feb. 12 (Bloomberg) -- A leaked Justice Department white paper has renewed the debate over presidential power and the war on terrorism. The timing of the leak, just days into President Barack Obama’s second term, was convenient for the many people who have switched sides in that debate.

Defying U.N. warnings, North Korea on Tuesday conducted its third nuclear test in the remote, snowy northeast, taking a crucial step toward its goal of building a bomb small enough to be fitted on a missile capable of striking the United States.

Tue, Feb 12, 2013