News Archive
National | Mon, Feb 25, 2013

Feb. 25 (Bloomberg) -- Lockheed Martin Corp.’s F-35 Joint Strike Fighter may resume flying within a week of working out problems that caused its grounding, the program chief for the Pentagon’s most expensive weapon program said.

Yahoo! Inc. Chief Executive Officer Marissa Mayer, by ordering staff to report to offices, risks losing the productivity gains that can come from flexible work arrangements and may jeopardize her ability to lure top talent.

CtW Investment Group, part of the labor group Change to Win, is pushing for Hewlett-Packard Co. to remove its two longest-standing board members and urging the computer maker to drop Ernst & Young LLP as its auditor.

The U.S. government has started selling its remaining General Motors stock as it moves to end four years of partial ownership of the Detroit automaker.

Ericsson AB and SAP AG will work together to offer technology that may be used to detect risks at oil refineries and direct vending machines to restock items appropriate to the weather.

Hundreds of Internet address suffixes to rival “.com” should be available for people and businesses to use by the year's end, the head of an Internet oversight agency said Monday.

Mozilla, the non-profit foundation behind the popular Firefox Web browser, is getting into phones. But it's not stopping at Web browsers -- it's launching an entire phone operating system.

Macy's CEO Terry Lundgren testified on Monday that he hung up on home diva Martha Stewart after she called to tell him that the company that bears her name had inked a deal with J.C. Penney to open shops within most of the chain's stores.

When Kevin Mandia, a retired military cybercrime investigator, decided to expose China as a primary threat to U.S. computer networks, he didn't have to consult with American diplomats in Beijing or declassify tactics to safely reveal government secrets.

Internet users who illegally share music, movies or television shows online could soon receive warning notices from the nation's five major Internet service providers.

Caesars Entertainment Corp. said Monday it took a loss in the fourth quarter after recording a $450 million impairment charge and reporting double-digit revenue declines at its Atlantic City casinos.

Google Inc., developer of the Android mobile-phone platform, plans to start a subscription music-streaming service to challenge Spotify Ltd., said two people with knowledge of the situation.

The late William F. Buckley and Karl Rove have little in common, other than the Republican Party and intelligence. Buckley’s politics were guided by principle; Rove’s principles are guided by politics.

Hewlett-Packard is selling its webOS software to South Korean electronics company LG Electronics, securing a new home for a technological orphan.

Royalty Pharma said Monday that it wants to buy Elan Corp. PLC for about $6.5 billion, but has yet to receive a formal response from the Irish drugmaker.

Stocks are having a bad flashback to last spring, when fears about the European debt crisis sent the market spiraling lower.

Nokia unveiled a cheaper model in its Lumia smartphone range, powered by Microsoft's Windows phone software, as it tries to regain dominance in emerging markets like China.

West Texas Intermediate oil fell to the lowest level in seven weeks in electronic trading after the settlement as partial election results in Italy heightened concern that the euro-zone debt crisis may deepen.

The last remaining national bookstore chain is being taken off the shelf and dusted off for sale.

Feb. 25 (Bloomberg) -- Barnes & Noble Inc. gained after Chairman Leonard Riggio said he will offer to buy the stores and website of the chain he founded more than 40 years ago as it struggles to navigate the rising popularity of digital books.

U.S. banks are looking to capitalize on a lack of financing for Europe’s commercial property market that’s driven lending margins to five times the level prior to the 2008 crisis.

The historic cobblestone streets and 19th-century mercantile buildings near the water's edge in lower Manhattan are eerily deserted, a neighborhood silenced by Superstorm Sandy.

Feb. 25 (Bloomberg) -- Tesla Motors Inc.’s chief executive officer said a New York Times story saying the electric-vehicle maker’s Model S sedan fell short of its estimated range trimmed the company’s stock-market value as much as $100 million.

Silicon Valley investors that helped build the solar industry are shifting cash into electricity-grid technology and energy-storage developers after bets on panel manufacturers failed to pay off.

Feb. 25 (Bloomberg) -- Hertz Global Holdings Inc., the largest publicly traded U.S. auto-rental chain, rose after projecting full-year profit and sales that exceeded analysts’ estimates as it benefits from its acquisition of Dollar Thrifty Automotive Group Inc.

Quiz question: Of the last seven U.S. presidents, which one issued, by a large margin, the most executive orders per year?

A major winter storm threatened to bring blizzard conditions to parts of the central Plains Monday, sending public works crews scrambling for salt and sand again less than a week after record amounts of snow blanketed the region.

Feb. 25 (Bloomberg) -- Brent crude traded near the highest level in four days before international talks with Iran on its nuclear program. China increased fuel prices for the first time since September.

Hertz posted a loss in the fourth quarter because of costs related to buying its rival, Dollar Thrifty. But the rental car company said Monday that pricing improved, volume rose and it cut costs.

U.S. stock futures are rising even with automatic budget cuts just days away, should a political impasse in Washington not be resolved.

U.S. Secretary of State John Kerry tried Monday to patch back together a conference with Syrian opposition leaders that was to be the centerpiece of his debut overseas trip, urging Syrian rebel leaders not to boycott the meeting and insisting that more help is on the way in their fight against President Bashar Assad.

Home improvement retailer Lowe's Cos. credits cleanup efforts after Superstorm Sandy and its new pricing strategy for fourth-quarter earnings that surpassed Wall Street expectations.

The BBC says it has received reports that its world service English shortwave radio frequencies are being jammed in China and condemns what it called efforts to disrupt free access to news and information.

LG Electronics Inc. is aiming to raise its smartphone sales by more than half this year as it makes a shift from basic phones to high-end devices after lagging competitors for several years.

Hewlett-Packard Co. is making a tablet computer that uses Google's Android operating system, steering clear of Microsoft's latest tablet-oriented version of Windows, the company said Sunday.

Shares of Avid Technology Inc. tumbled after the company said it was indefinitely postponing a quarterly earnings announcement while it evaluates its accounting.

Feb. 25 (Bloomberg) -- LG Electronics Inc. is acquiring Hewlett-Packard Co.’s WebOS mobile-software operations and hiring several dozen engineers who worked on the operating system as part of an effort to improve Internet-capable televisions.

Feb. 25 (Bloomberg) -- Berkshire Hathaway Inc. agreed to buy the Tulsa World newspaper from the Lorton family as billionaire Warren Buffett’s company extends its bet on print journalism.

Feb. 25 (Bloomberg) -- Johnson & Johnson’s Ethicon unit failed to properly warn of the risks of a vaginal mesh implant and made fraudulent misrepresentations to a South Dakota nurse who sued, a New Jersey jury ruled.

Feb. 25 (Bloomberg) -- Fannie Mae and Freddie Mac should be replaced with a government corporation that would assume losses in catastrophic circumstances, a bipartisan panel of retired U.S. lawmakers and former officials said in a report today.

Feb. 25 (Bloomberg) -- Alcatel-Lucent SA, the unprofitable French network equipment vendor, sees its decade-long links with U.S. carriers such as AT&T Inc. and Verizon Communications Inc. helping to fend off European rivals’ attacks to steal market share and find growth away from home.

Lockheed Martin Corp. has received the go-ahead from the Air Force to begin acquiring components for four new GPS III satellites.

Feb. 25 (Bloomberg) -- Aqua America Inc., the second- biggest U.S. water utility by market value, said profit almost doubled in the fourth quarter, helped by higher sales and a tax accounting change.

FirstEnergy Corp. said Monday that it posted a fourth-quarter loss of $148 million, hurt by hefty costs related to pension adjustments and other items.

Feb. 25 (Bloomberg) -- Macy’s Inc. Chief Executive Officer Terry Lundgren testified that his department-store chain expected exclusivity for some products when it entered into a sales contract with Martha Stewart Living Omnimedia Inc.

Cooper Tire & Rubber Co. said Monday that its fourth-quarter net income fell by more than half, hurt by tough comparisons to results boosted by a hefty tax benefit a year ago.

Feb. 25 (Bloomberg) -- Daimler AG cut Chief Executive Officer Dieter Zetsche’s pay 5.8 percent amid a reduction in managers’ bonuses as the world’s third-biggest maker of luxury cars fell behind competitors in sales and dropped profit goals.

The National Highway Traffic Safety Administration says it will investigate problems with stalling or surging engines in nearly 725,000 Ford cars and SUVs.

Feb. 25 (Bloomberg) -- Lowe’s Cos., the second-largest U.S. home-improvement retailer, posted fourth-quarter profit that exceeded analysts’ estimates, helped by spending on remodeling and Hurricane Sandy repairs.

The image was meant to convey growing friendship between the United States and Myanmar, currently the world's hottest frontier market. Flanked by small national flags, Win Aung, the president of Myanmar's main business association, and U.S. Assistant Secretary of State Jose Fernandez shook hands in Yangon on Monday and agreed to deepen business ties between their countries.

Feb. 25 (Bloomberg) -- NCC Ltd., an Indian construction company backed by Blackstone Group LP, will quit bidding for projects to manage expressways as high borrowing costs and the government’s failure to acquire land makes roads unprofitable.

The International Herald Tribune, one of the most enduring brands in journalism history, is getting a new name: The International New York Times.

Facebook offered assurances Monday that the social media site is removing some posts and so-called tribute pages related to the Sandy Hook Elementary School shooting over concerns they're being used to exploit the tragedy.

Feb. 25 (Bloomberg) -- Lowe’s Cos., the second-largest U.S. home-improvement retailer, tumbled the most in six months after forecasting profit this year that trailed analysts’ estimates amid sales to clear slower-moving merchandise.

Feb. 25 (Bloomberg) -- Altera Corp., a maker of programmable processors used in phone-network equipment, agreed to use Intel Corp. as a contract manufacturer for some future versions of its chips.

Feb. 25 (Bloomberg) -- Verizon Wireless, the largest U.S. mobile-phone carrier, doesn’t plan to offer the new BlackBerry Q10 keyboard-equipped smartphone until summer, signaling that customers will have to wait four months or more for the device.

Feb. 25 (Bloomberg) -- When Sony Corp. releases the PlayStation 4, Nvidia Corp.’s signature graphics chips won’t be on the parts list. Nvidia Chief Executive Officer Jen-Hsun Huang figures that players have already left the living room.

Natural gas producer Quicksilver Resources Inc. said Monday that it lost more than $1 billion in the fourth quarter after it took a large impairment charge.

Feb. 25 (Bloomberg) -- Yum! Brands Inc., owner of the KFC food chain, pledged to ramp up safety and tighten requirements for suppliers in China to win back consumers after a probe into chicken providers dragged down local sales.

General Motors has hired an executive from red-hot Volkswagen to lead the marketing of its most important brand.

Darden Restaurants says it will slow down the pace of new restaurant openings for its flagship Olive Garden chain, as the company works to revitalize the brand and catch up to changing dining habits.

Italy faced political paralysis Monday as near-complete results in crucial national elections showed no clear front-runner and raised the possibility of a hung parliament. The uncertainty bodes ill for the nation's efforts to pass the tough reforms it needs to snuff out its economic crisis and reassure jittery markets.

Apollo Group Inc. said Monday that its accrediting body was considering placing the company's University of Phoenix subsidiary on probation because of alleged deficiencies involving its administrative structure and governance.

Feb. 26 (Bloomberg) -- NTT DoCoMo Inc., Japan’s largest wireless carrier, is ready to return to investing in phone companies outside Asia, after rival Softbank Corp.’s deal to acquire a majority stake in Sprint Nextel Corp. in the U.S., its chief executive officer said.

Prolapse occurs when a pelvic organ _ the bladder, uterus, vagina, bowel or rectum -- droops as muscles weaken due to childbirth, aging, obesity or other factors. That can cause painful intercourse, lower backache, constipation or stress incontinence, meaning bladder leakage usually triggered by coughing, sneezing, lifting heavy objects or exercise.

Feb. 25 (Bloomberg) -- General Motors Co., the largest U.S. automaker, is proposing to pay Chief Executive Officer Dan Akerson $11.1 million this year, according to a document obtained by Bloomberg News.

Feb. 25 (Bloomberg) -- Vodafone Group Plc, the second- largest mobile-phone company, plans to offer bundles of wireless, Web, television and phone service across Europe as it steps up competition with cable rivals.

Feb. 25 (Bloomberg) -- Affymax Inc. fell as much as 87 percent after the company and partner Takeda Pharmaceutical Co. voluntarily recalled an anemia treatment for kidney dialysis patients after reports of fatal reactions.

Feb. 25 (Bloomberg) -- A gauge of U.S. corporate credit risk fell before parliamentary election results in Italy amid a debate to continue austerity measures in the country.

Swedish furniture giant Ikea was drawn into Europe's widening food labeling scandal Monday as authorities said they had detected horse meat in frozen meatballs labeled as beef and pork and sold in 13 countries across the continent.

The British pound fell sharply against other currencies before stabilizing somewhat on Monday as investors reacted to the downgrade of the U.K.'s cherished triple-A credit rating.

Nearly three years after a deadly rig explosion in the Gulf of Mexico triggered the nation's worst offshore oil spill, a federal judge in New Orleans is set to preside over a high-stakes trial for the raft of litigation spawned by the disaster.

Feb. 23 (Bloomberg) -- David Einhorn’s Greenlight Capital Inc. winning a court order blocking an upcoming Apple Inc. shareholder vote increases pressure on the iPhone maker to return some of its growing cash hoard to investors.

Markets were extremely volatile Monday amid uncertainty over the outcome of the Italian general election.

Official figures show Poland's unemployment rate rose to 14.2 percent in January from 13.4 percent in the previous month.

Facing a Friday deadline, President Barack Obama said Monday that Congress can avert sweeping across-the-board cuts with “just a little bit of compromise,” as he sought to stick lawmakers with the blame if the budget ax falls.

The head of Germany's national central bank urged France to set an example for troubled eurozone countries and help restore confidence in the euro by bringing down its budget deficit.

Shares of Mead Johnson fell after the maker of infant formula disclosed on Monday that a new regulation in Hong Kong could affect the company's sales there as well as in mainland China.

The Supreme Court won't hear an appeal of a decision upholding a century-old ban on corporate campaign contributions in federal elections.

A Janney Capital Markets analyst on Monday downgraded shares of Children's Place, citing heightened competition among retailers of children's clothing and accessories, as well as financial pressures on low-income shoppers.

had some rare words of praise for U.S. regulators Monday, saying they're doing better than their European counterparts in promoting faster wireless data networks.

AT&T Inc. is scoring a win over rival Verizon Wireless as it takes over the contract to supply wireless connections to cars with General Motors' OnStar service.

Oscar Pistorius reported to South African authorities on Monday under bail terms in the murder case against him, said a spokeswoman for the Olympic athlete.

A Saudi newspaper says officials may consider dropping plans for a barrier separating men and the newly appointed women in the country's top advisory body.

Philadelphia will host a large gathering of the Roman Catholic church called the World Meeting of Families in 2015.

Feb. 25 (Bloomberg) -- The yen dropped to the weakest since May 2010 against the dollar on speculation Prime Minister Shinzo Abe will select Haruhiko Kuroda to be the next central bank governor, seen as a supporter of aggressive monetary easing.

He found the love of his life 2,000 miles from home in a chance encounter that gave him butterflies, and she moved west to be with him. So of course, Jason Skipton told me, there could be no better place to propose marriage than in a swirl of orange and black butterflies that had migrated thousands of miles to mate.

Feb. 25 (Bloomberg) -- The U.S. Supreme Court turned away an appeal by two men accused of illegally channeling more than $150,000 in corporate money to Hillary Clinton’s 2008 presidential campaign.

A New York City oceanfront neighborhood where three people died during Superstorm Sandy will be the first to get state-sponsored home buyouts.

With his long silver beard and uniform with braided trim, former Surgeon General C. Everett Koop became one of the most recognizable figures of the Reagan era -- and one of the most unexpectedly enduring.

Candidates in the race to replace former Congressman Jesse Jackson Jr. are making their final push in a special primary contest where voter turnout is expected to be low.

Mon, Feb 25, 2013