News Archive
National | Fri, Feb 15, 2013

Declaring that America is losing an aggressive cyber-espionage campaign waged from China, administration officials and lawmakers on Wednesday agreed to push legislation that would make it easier for the government and industry to share information about who is getting hacked and what to do about it.

A feud between Wall Street titans is flaring up again over Herbalife.

Zipcar, which is being purchased by Avis, posted fourth-quarter net income that soared on a tax benefit as membership in the car-sharing company jumped by 16 percent by the end of the year.

Stocks rose for the week, sending the Standard & Poor’s 500 Index to its longest winning streak in two years, amid optimism over corporate dealmaking and better-than-estimated economic data.

This year's tax-filing deadline is a couple months away, and many investors are beginning to review whether they made any rash moves with their portfolios to trigger potentially unnecessary tax bills. It's a good instinct to follow, because it can become a teachable moment on how to become a tax-savvy investor.

Trump Plaza, the Boardwalk centerpiece of Donald Trump's one-time Atlantic City empire, was sold Thursday to a California company for $20 million in the cheapest of a series of bargain-basement deals for distressed gambling halls in the struggling New Jersey seaside resort.

Having turned around H.J. Heinz Co., Chief Executive Officer Bill Johnson may reap about $100 million from the company’s buyout.

Feb. 15 (Bloomberg) -- The Standard & Poor’s 500 Index fell, snapping three days of gains, as Wal-Mart Stores Inc. tumbled and investors weighed economic data.

Feb. 15 (Bloomberg) -- West Texas Intermediate oil fell after U.S. industrial production unexpectedly shrank and euro- area exports declined the most in five months, raising concern that fuel demand may weaken.

Wells Fargo & Co., the lender that’s expanding its securities unit to challenge Wall Street competitors, is broadening U.K. commercial property lending as European banks are forced to retreat.

Feb. 15 (Bloomberg) -- Nobel Prize-winning economist Paul Krugman said the Federal Reserve must keep interest rates low to sustain the U.S. housing recovery.

Stocks were little changed on Wall Street Friday, with the S&P 500 barely holding on to its seventh week of gains.

Feb. 15 (Bloomberg) -- Manufacturing in the New York region unexpectedly expanded in February, indicating the area’s factories are emerging from a slump that began in August.

Campbell Soup Co. said its net income fell by 7 percent in the latest quarter, as the world's biggest soup maker incurred costs for the closure of a plant in Mexico and other restructuring measures.

A revamped menu helped boost Burger King's profit in the fourth quarter but now the world's second biggest hamburger chain says it needs to play up value more aggressively to compete with rivals.

Kraft Foods expects fourth-quarter adjusted earnings above analysts' current estimates, but foresees lower revenue than a year ago.

Feb. 14 (Bloomberg) -- In the Atacama Desert in northern Chile, 158,438 residents of the city of Copiapo suffered daily cutoffs of tap water last year as Anglo American Plc and other companies helped suck nearby aquifers dry for their mines. With little water left for drinking or mining, the government of President Sebastian Pinera convinced the companies to seek a solution to the water crisis 60 kilometers away from Copiapo -- on the shores of the Pacific Ocean.

Feb. 13 (Bloomberg) -- The cheapest Apple Inc. shares in 12 years are encouraging some of the world’s biggest investors to bet that the stock will rebound after losing 33 percent of its value on concern about slowing profit growth.

One Las Vegas shooting range is selling “take a shot at love” packages that include 50 submachine gun rounds. Another is offering wedding packages in which the bride and groom can pose with Uzis and ammunition belts. And a third invites lovebirds to renew their vows and shoot a paper cutout zombie in the face.

Some travel agents on Thursday said cruise prices and bookings have not been affected by reports about a disabled Carnival ship, but others in the industry say it's too early to tell.

Feb. 15 (Bloomberg) -- AMR Corp.’s $11 billion merger with US Airways Group Inc. caps a wave of consolidation that has swept up five of the 10 biggest U.S. airlines since 2005 and leaves a three-way rivalry at the top of the industry.

Feb. 15 (Bloomberg) -- For almost two decades, Sony Corp.’s PlayStation gaming console has been the pride of the company’s legions of engineers. Now President Kazuo Hirai hopes a makeover can keep it from tracking other Sony hardware hits into obscurity.

Fourth-quarter net income for LifePoint Hospitals Inc. fell 4 percent, as admissions at the company's established hospitals slipped while salaries and other expenses climbed.

If the Crawley family of “Downton Abbey” were American, they'd summer at Newport.

Feb. 15 (Bloomberg) -- Viking Global Investors LP, the hedge fund run by O. Andreas Halvorsen, eliminated its entire stake in Apple Inc. in the fourth quarter, joining rivals that either exited or cut holdings as shares of the maker of iPhones and MacBooks slumped.

Feb. 15 (Bloomberg) -- The Moscow Exchange raised 15 billion rubles ($498 million) in the biggest initial public offering on Russia’s bourse since 2007, pricing at the bottom of its target range.

Feb. 15 (Bloomberg) -- JPMorgan Chase & Co., grappling with Wall Street’s worst year for stock-trading since 2008, cut pay at the equities unit about 4 percent and pushed out about three dozen employees, people with knowledge of the moves said.

NBA Commissioner David Stern expects a concrete financing plan from Sacramento Mayor Kevin Johnson within the next two weeks, with the aim of settling the Kings' future by mid-April.

Clothing company VF's net income climbed 30 percent in its fiscal fourth quarter as results strengthened across most of its businesses.

Auto parts maker TRW Automotive Holdings Corp. said on Friday that its fourth-quarter net income fell as vehicle production in Europe slowed and it absorbed higher pension expenses.

Ventas Inc. said Friday that its funds from operation grew 13 percent in the fourth quarter as the medical real estate company continued to expand.

Oil prices fell below $96 a barrel Friday after disappointing U.S. industrial production data fed concerns about the nation's economic recovery.

Stocks are closing narrowly mixed on Wall Street as the S&P 500 index notches its seventh straight week of gains.

If stock investing is like playing the lottery, your odds of winning the jackpot just got a little better.

Regulators say they have closed a small bank in Chicago, bringing to three the number of U.S. bank failures this year following 51 closures in 2012.

Facebook is getting an unwelcome look at the shady side of the hacking culture that CEO Mark Zuckerberg celebrates.

An initial public offering of stock of Xoom Corp. stock raised $101.2 million, more than the online money-transfer company had expected.

Feb. 15 (Bloomberg) -- A gauge of U.S. corporate credit risk advanced as Group of 20 finance chiefs met in Moscow to discuss global economic growth.

Feb. 15 (Bloomberg) -- The yen fell versus the dollar after a Group of 20 official said the latest draft of the nations’ statement doesn’t echo the Group of Seven view that exchange rates shouldn’t be a target of policy..

Feb. 15 (Bloomberg) -- U.S. stock futures were little changed, after the Standard & Poor’s 500 Index reached a five- year high, as Group of 20 finance chiefs met in Moscow.

Airbus abandoned its plans to use lithium-ion batteries for its new A350 airplanes due to the uncertainty surrounding the technology following the grounding of Boeing's 787, the company said.

India's Defense Ministry said Friday that it has put a $750 million contract to purchase helicopters from Italian company Finmeccanica on hold amid allegations that bribes were paid to obtain it.

Futures are falling as the Group of 20 gathers in Moscow, where currency exchange policy, particularly in Japan, will likely dominate discussions.

A future in which unmanned drones are as common in U.S. skies as helicopters and airliners has moved a step closer to reality with a government request for proposals to create six drone test sites around the country.

The Spanish government has passed a draft bill that aims to make deep cuts to local administration and is expected to save some (euro) 7.1 billion ($9.5 billion).

U.S. factories slowed production in January after two solid months of cranking out goods. The weakness mainly reflected a big drop in output at auto factories that is likely temporary.

House conservatives want to extend to a full three years the current freeze on cost-of-living pay increases for the nation's 2 million civilian federal workers.

Foreign demand for U.S. Treasury securities rose to a record level in December, evidence that overseas investors remained confident in U.S. debt despite on-going budget battles in Washington.

Russia's President Vladimir Putin on Friday called on financial chiefs of the world's leading industrial and developing nations to consider the political and social implications of their crucial policy decisions.

The University of San Diego finally has a sweet little ballpark to match its national reputation, even if construction workers have to hammer, saw and paint right up until the first pitch Friday night.

Drugmaker AbbVie Inc., spun off from Abbott Laboratories in January, approved $1.5 billion for buying back its own shares.

Shares of Xoom soared more than 40 percent in their first day as a publicly traded company.

The yen started falling again Friday amid speculation that the upcoming meeting of finance ministers and central bankers in Moscow will not criticize Japan for pushing forward policies that have seen the currency fall sharply.

J. M. Smucker Co. said Friday that its fiscal third-quarter net income jumped 32 percent, helped by strong demand for its profitable K-Cups coffees and peanut butter products.

A 150-foot asteroid hurtled toward Earth's backyard, destined Friday to make the closest known flyby for a rock of its size.

Passengers who finally escaped the disabled Carnival cruise ship Triumph were checking into hotels early Friday for a hot shower, food and sleep or boarding buses for a long haul home after five numbing days at sea on a ship left powerless by an engine-room fire.

Around 5,000 mostly hard-line Islamists are rallying in Egypt against a recent wave of anti-government protests that have killed around 70 people.

Heavy fighting for control of the international airport in the northern Syrian city of Aleppo and a major military air base nearby has killed some 150 rebels and government soldiers over the past two days, activists said Friday.

A meteor streaked through the sky and exploded Friday over Russia's Ural Mountains with the power of an atomic bomb, its sonic blasts shattering countless windows and injuring more than 750 people. The spectacle deeply frightened thousands, with some elderly women declaring the world was coming to an end.

It was a little before 10 p.m. that February night in 1898 when a fiery explosion roiled the normally calm waters of Havana Harbor, blowing out windows in the city and sinking the USS Maine to the bottom of the bay, just the mast and some twisted metal wreckage left to poke above the waves.

Fri, Feb 15, 2013