News Archive
National | Fri, Nov 9, 2012

Nov. 9 (Bloomberg) -- Google Inc. is reporting an unusual drop in traffic to its sites in China, and an Internet monitor said the search engine’s services are being blocked in the world’s most populous nation.

U.S. stocks rose, trimming the biggest weekly drop since June in the Standard & Poor’s 500 Index, as data showing consumer confidence climbed to a five-year high offset concern about fiscal cliff negotiations.

The U.S. economy appears to have grown over the summer faster than first thought.

Lockheed Martin Corp. has ousted its president and future CEO over a relationship with a subordinate.

The other night, Nate Silver got a little taste of what things are going to be like for him, post-Election 2012.

The Statue of Liberty was illuminated Friday evening for the first time since it was damaged by Superstorm Sandy.

Government leaders in the United States and Mexico are close to signing a pact to add areas south of the border to Colorado River water sharing agreements involving seven Western U.S. states, officials said Friday.

A gasoline shortage caused by Superstorm Sandy forced 1970s-era rationing on New Yorkers Friday, adding a fuel-gauge obsession to their frayed nerves and dwindling patience.

J.C. Penney Co. is hoping it has hit rock bottom.

Investors are anxious. The Dow Jones Industrial Average had its steepest two-day sell-off of the year on Wednesday and Thursday. With the election behind, the so-called “fiscal cliff” came into focus.

Nov. 9 (Bloomberg) -- CIA Director David H. Petraeus, the retired four-star general widely commended for his oversight of the U.S. wars in Iraq and Afghanistan, resigned from his position due to an extramarital affair.

Nov. 9 (Bloomberg) -- The euro slid to a two-month low against the dollar and the weakest level in almost a month versus the yen as a drop in French industrial production added to speculation Europe’s economic outlook is worsening.

The worst of Europe's financial crisis appears to be over.

At the request of Congress, federal and District of Columbia agencies will conduct a nine-month study on potential changes to building height restrictions in the nation's capital, officials announced Thursday.

Baby boomers started driving at a young age and became more mobile than any generation before or since.

Stocks turned higher on Wall Street Friday, reversing an early loss. The advance halted two days of sharp declines caused by concern that political wrangling in Washington could push the U.S. economy back into recession.

Nov. 9 (Bloomberg) -- Confidence among U.S. consumers rose more than forecast in November, reaching a five-year high as the labor market showed signs of improvement.

Nov. 9 (Bloomberg) -- The cost of goods imported into the U.S. unexpectedly climbed in October, led by increases in energy expenses that have since been reversed as global growth cooled.

Nov. 9 (Bloomberg) -- U.S. stock futures fell, signaling the Standard & Poor’s 500 Index will extend its biggest weekly decline in five months, as companies from Groupon Inc. to J.C. Penney Co. reported results that missed analyst estimates.

Nov. 9 (Bloomberg) -- Crude traded near its lowest level in four months amid speculation that risks to the U.S. and European economies will restrain demand while supplies increase.

Cash-strapped Greece will issue unusually short-term debt on Tuesday in the hope of raising enough money to make a key bond repayment days later.

Intel Corp.'s slumping stock touched a 52-week low for the third straight day before it started to attract investors looking for potential bargains.

Shares of Apple Inc. rose Friday for the first time in four days, after an analyst saw signs of improvement in iPhone 5 supplies.

The stock market is closing out one of its worst weeks this year as traders worried about the possibility that a divided Washington may not act in time to avert a series of tax increases and harsh spending cuts by the beginning of next year.

Nov. 9 (Bloomberg) -- New Jersey Governor Chris Christie said about 240,000 customers in the state remain without electricity.

Nov. 9 (Bloomberg) -- Amy Brandt, the former head of a General Electric Co. home lender, joined Prospect Mortgage LLC as the company targets a segment of residential lending that larger firms retreated from.

The price of oil rose Friday as legislators began postelection talks on how to avoid the so-called fiscal cliff, and a report showed Americans' view of the economy is improving.

Nov. 9 (Bloomberg) -- Walt Disney Co. dropped the most in 15 months after reporting fiscal fourth-quarter sales that missed analysts’ estimates amid an ad-sales decline at the ABC network and weakening trends at cable-sports powerhouse ESPN.

Nov. 9 (Bloomberg) -- Kruger Inc., the Montreal-based pulp- and-paper producer, plans to sell a stake in its tissue business whose brand products include Cashmere toilet paper and Wal-Mart Stores Inc.’s White Cloud napkins.

Nov. 9 (Bloomberg) -- JPMorgan Chase & Co.’s Bear Stearns unit’s settlement of a consolidated lawsuit by investors who lost money from 2006 to 2008 was approved by a federal judge in New York.

Nov. 9 (Bloomberg) -- The Securities and Exchange Commission began a formal investigation of Knight Capital Group Inc. related to its $457.6 million trading error in August.

Forget about the “fiscal cliff.”

Nov. 9 (Bloomberg) -- China’s home sales transaction value dropped 6.8 percent in October from the previous month as the government maintained curbs on the property market.

Nov. 10 (Bloomberg) -- Aston Martin’s controlling shareholder, Investment Dar Co., has approached potential buyers for the maker of luxury sports cars featured in James Bond movies, said five people with knowledge of the matter.

Nov. 9 (Bloomberg) -- Treasuries rose, with 10-year yields dropping to a two-month low, amid speculation U.S. lawmakers will fail to agree on measures to avoid the so-called fiscal cliff, leading to a possible U.S. recession.

Nov. 9 (Bloomberg) -- Gold climbed to a three-week high in New York and headed for the biggest weekly gain since January on prospects of more U.S. stimulus. Holdings in bullion-backed exchange-traded products rose to a record.

Nov. 9 (Bloomberg) -- A gauge of U.S. corporate credit risk rose for a third straight day as a report reiterated that the so-called fiscal cliff of automatic spending cuts and tax increases may push the U.S. economy into recession.

Nov. 9 (Bloomberg) -- Oil climbed as better-than-forecast consumer-sentiment data tempered concern political wrangling in the U.S. will slow the economy of the world’s biggest crude- consuming country.

House Speaker John Boehner (BAY'-nuhr) says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating special interest loopholes and revising the tax code.

Seven members of the secretive Navy SEAL Team 6, including one involved in the mission to get Osama bin Laden, have been punished for disclosing classified information, senior Navy officials said Thursday.

The E.W. Scripps Co. returned to profitability in the third quarter, thanks to sharply higher political advertising revenue and contributions from TV stations it bought in 2011.

Federal regulators have rejected a request from environmentalists to hold a court-like review of equipment issues at the long-shuttered San Onofre nuclear power plant in California.

The government will give U.S. banks more time to increase their capital cushions against losses, delaying the requirement after financial industry criticized the start date.

Gov. Chris Christie on Thursday praised utility crews for working 16-hour days and through a snowstorm to restore power across New Jersey and cautioned against casting anyone as a villain in the recovery from Superstorm Sandy.

U.S. wholesale businesses increased their stockpiles in September at the fastest pace in nine months and their sales jumped by the largest amount in 18 months. The increases point to stronger economic growth.

Nov. 9 (Bloomberg) -- The drone of generators fills the silence of lower Manhattan on a weekday afternoon. A newsstand is open at the corner of Wall and Water streets, its main customers now cleanup crews rather than bankers, lawyers and other financial district office workers.

Nov. 9 (Bloomberg) -- Vijay Vankadari, who has renovated Frankfurt apartment buildings for more than a decade, used a cheap and plentiful resource for his latest residential project in the city: old office buildings that businesses won’t touch.

President Barack Obama, laying down his marker for grueling “fiscal cliff” negotiations, said Friday he won't accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes.

The Gerald R. Ford Presidential Museum in Grand Rapids will be updated and expanded under a $15 million fundraising effort, officials announced Friday.

Nov. 9 (Bloomberg) -- ING U.S. Inc., an insurance unit of the largest Dutch financial-services company, filed for an initial public offering as the parent company narrows its focus.

U.S. stock futures are falling in some of the heaviest trading this week before President Barack Obama addresses the so-called fiscal cliff, an issue that has driven markets lower since his re-election three days ago.

Former Secretary of State Condoleezza Rice says the Republican Party must adapt better to rapidly changing demographics in the United States, saying the GOP sent “mixed messages” in the election campaign on immigration and women's issues.

Residents of a small Alaska Native village facing a severe water shortage are monitoring every precious drop they use as they struggle to stretch their reserves as far into winter as possible, with help coming from as far away as Minnesota.

Two states that approved recreational use of marijuana could learn Friday whether the federal government intends to file a lawsuit to block the measures from taking effect.

Officials from Iran and the U.N. nuclear watchdog will meet in Tehran next month in an attempt to restart stalled nuclear talks, the international agency announced Friday.

The Turks and Caicos Islands prepared to govern itself for the first time in three years as voters in the British territory elected a new government Friday.

The Army Corps of Engineers says improvements to the New Orleans-area levee system did not cause Hurricane Isaac's storm-surge flooding of areas in Louisiana that were not inundated during Hurricanes Katrina and Gustav.

Fri, Nov 9, 2012