News Archive
National | Mon, Nov 12, 2012

Sherwin-Williams Co., the largest U.S. paint retailer, agreed to acquire closely held paint maker Consorcio Comex SA de CV for about $2.34 billion including debt to expand in Mexico as housing demand improves. The shares rose the most in more than a year.

J.C. Penney Co. executives may be confident in the department-store chain's everyday low pricing strategy, but its investors are panicking.

Apple Inc. settled all global lawsuits with HTC Corp., signaling a new willingness to resolve patent disputes without resorting to the “thermonuclear war” stance favored by co-founder Steve Jobs.

There are striking parallels between Barack Obama’s re-election victory last week and that of George W. Bush in 2004.

Now that the U.S. presidential election is over, attention has turned to the challenge of keeping the world’s largest economy growing. The underlying assumption is that growth is always the proper goal.

John Rodwick cuts corners so he has money to spend on his seven grandchildren and cruise around the Rocky Mountains with his wife, Jean, in their blue-trimmed Roadtrek motor home.

Nordstrom Inc., the Seattle-based retailer whose shares have surged 17 percent since June, has produced a new billionaire.

Beazer Homes' loss widened in its fiscal fourth quarter, as the homebuilder dealt with a large loss on debt extinguishment.

Homebuilder D.R. Horton Inc. said Monday that its fiscal fourth-quarter net income more than doubled, as the company closed on more homes and net sales orders climbed.

Oil in New York dropped for the first time in three days as European policy makers met to discuss aid for Greece and Japan’s economy shrank.

Research In Motion said Monday that it will hold an official launch event for its new BlackBerry 10 smartphones on Jan. 30. The new phones are seen as critical to RIM's survival.

Spain's major banks have agreed to suspend evictions of the most financially vulnerable home owners, a move to take the heat out of an increasingly dramatic issue that has affected thousands and shocked the nation with two suicides in recent weeks.

Nov. 12 (Bloomberg) -- Eastman Kodak Co., the bankrupt photography pioneer, arranged $793 million in financing from some creditors to exit bankruptcy as a commercial-printing company, said a person familiar with the negotiations.

New York Times Co. CEO Mark Thompson is starting his job on Monday amid a widening scandal at his former employer, the BBC.

Republicans are engaged in some public “soul-searching,” which is what we usually call it when members of a defeated party explain that the party went wrong by not taking the advice they’ve been giving all along.

Stock futures are rising as international lenders clear the path for a new bailout agreement in Greece, which only recently appeared to be on the verge of bolting from the European Union monetary block.

Leucadia National is buying the investment banking firm Jefferies Group for about $2.6 billion in stock.

Nov. 12 (Bloomberg) -- Gold climbed near a three-week high in New York on speculation investors will seek a protection of wealth as the U.S. faces a so-called fiscal cliff.

Nov. 12 (Bloomberg) -- Russia’s economy expanded in the third quarter at the slowest pace since it began recovering at the start of 2010 as a drought hurt agricultural output and stuttering global growth curbed demand for commodities exports.

Uncertainty over whether Washington will agree a spending and taxation deal that is crucial to keeping the U.S. economic recovery on track kept a lid on global market gains on Monday.

a crucial step in its efforts to secure the next installment of its bailout loan, the head the of group of finance ministers from the 17 euro countries said Monday.

Nov. 12 (Bloomberg) -- Deva Holding AS, the Turkish drugmaker majority owned by EastPharma Ltd., will seek approval from the U.S. Food and Drug Administration in 2014 for possible exports to the U.S. beginning in 2015.

Nov. 12 (Bloomberg) -- Group Plc, the U.K.’s largest price comparison website, is confident that fresh competition from Google Inc. won’t reduce profits even if it eats into sales, Chief Executive Officer Peter Plumb said.

Collecting sediment samples from Charleston Harbor for a study for a $300 million deepening of the shipping channel would seem straightforward. But the work appears more a cross between “House” and “CSI Miami.”

Nov. 12 (Bloomberg) -- China’s $20 billion solar industry is avoiding loan defaults and mergers by taking aid from local governments, preserving jobs at money-losing companies such as LDK Solar Co., the world’s second-biggest maker of solar cells.

Nov. 12 (Bloomberg) -- When U.S. voters elected Barack Obama president in November 2008, many of us were convinced he would make a top priority of reforming Wall Street, which had just almost succeeded in bringing down our way of life through greed and lack of accountability.

Nov. 12 (Bloomberg) -- Strategic Hotels & Resorts Inc., the owner of luxury lodgings from New York’s Essex House to the Ritz-Carlton Half Moon Bay in California, is turning into a takeover candidate after its founder’s abrupt exit.

Nov. 13 (Bloomberg) -- Sydney’s office vacancies are set to surge as Lend Lease Group’s A$6 billion ($6.2 billion) financial center opens and older buildings are renovated while big tenants including Macquarie Group Ltd. cut jobs.

Nov. 12 (Bloomberg) -- D.R. Horton Inc., the largest U.S. homebuilder by volume, reported fiscal fourth-quarter earnings that beat analysts’ estimates as orders increased.

Nov. 12 (Bloomberg) -- Facebook Inc. shares fell to the lowest intraday price in three weeks on concern that shareholders will start selling their shares when a prohibition on the transaction expires.

The dollar is trading in tight ranges against other major currencies in light trading.

Nov. 12 (Bloomberg) -- The New York Stock Exchange canceled trading and closing auctions in 216 securities after a malfunction in a computerized “matching engine.”

Kodak has reached an agreement to borrow $793 million, potentially allowing it to exit bankruptcy protection early next year, a person with knowledge of the arrangement said Monday.

Nov. 13 (Bloomberg) -- LDK Solar Co. led gains in Chinese solar stocks traded in New York as the nation plans to unleash a second round of subsidies for the renewable energy industry. SouFun Holdings Ltd. sank after its outlook missed estimates.

Nov. 12 (Bloomberg) -- “Halo 4,” the latest installment in Microsoft Corp.’s video-game franchise, took in more than $220 million in its first 24 hours on sale, setting a record for the title.

Nov. 12 (Bloomberg) -- Best Buy Co. hired former Williams- Sonoma Inc. Chief Financial Officer Sharon McCollam as CFO as the world’s largest consumer-electronics retailer seeks to reduce its store count and strengthen its online operations.

When Google announced its plans to fund some 100 new channels of original programming on YouTube, many expected a transformation in television.

Nov. 12 (Bloomberg) -- Canada’s dollar rose versus its U.S. peer for the first time in four days after China’s exports topped forecasts, fueling bets the Asian nation’s growth will accelerate and raising demand for currencies of commodities exporters.

Nov. 12 (Bloomberg) -- Hertz Global Holdings Inc. agreed to shed more airport locations, which may lead the U.S. Federal Trade Commission to allow the $2.6 billion acquisition of Dollar Thrifty Automotive Group Inc. to go forward, two people familiar with the negotiations said.

The UPS Foundation says it will no longer give grants to the Boy Scouts of America as long as the group excludes gays and lesbians from being scouts or scout leaders.

Verizon Wireless on Monday said it will pay a dividend of $8.5 billion next month to its owners, Verizon Communications Inc. and Vodafone Group PLC.

Sorry to see 100-watt bulbs disappear from stores because they were energy hogs? You can now get LED bulbs that roughly match the 100-watters for size and brightness, but use far less energy.

Nov. 12 (Bloomberg) -- Research In Motion Ltd. plans to showcase the first two of its BlackBerry 10 smartphones on Jan. 30 and then start selling the devices in February, moving forward with a critical step in its comeback bid.

Nov. 12 (Bloomberg) -- D.R. Horton Inc., the largest U.S. homebuilder by volume, fell after its chief executive officer cautioned that employment growth will remain weak next year, potentially hurting sales of new houses.

Nov. 12 (Bloomberg) -- Google Inc. is being pressed by U.S. Federal Trade Commission Chairman Jonathan Leibowitz to offer to resolve the agency’s antitrust investigation in the next few days or face a lawsuit, two people familiar with the matter said.

Nov. 12 (Bloomberg) -- Bearish options trading on Lockheed Martin Corp. surged to a record on Nov. 9 hours before the biggest defense contractor said its incoming chief executive officer resigned because of a relationship with a subordinate.

Nov. 12 (Bloomberg) -- Gilead Sciences Inc. rose after a combination of its experimental hepatitis C therapies cleared the virus in 100 percent of patients in a trial.

Swedish furniture giant Ikea says it will release a report this week addressing claims that it benefited from forced labor in communist East Germany.

The Chinese government will require that future industrial projects include assessments of their risk to social stability, following several large protests around the country over pollution, a top official said Monday.

BlackBerry-maker Research In Motion says it will hold a launch event for its much-delayed new BlackBerry 10 smartphones on Jan. 30.

Nov. 12 (Bloomberg) -- The euro traded close to a two-month low against the dollar as European policy makers prepare to meet to seek a plan to maintain Greece’s solvency and keep the nation in the common currency.

A leading British medical journal is asking the drug maker Roche to release all its data on Tamiflu, claiming there is no evidence the drug can actually stop the flu.

Nov. 12 (Bloomberg) -- Dubai said it has overcome its financial challenges and could issue debt if it wanted, even as some of its creditors threaten the city-state with lawsuits over $10 billion of loans.

Fiat Industrial has announced a new management structure aimed at making it easier to merge with its U.S. subsidiary CNH Global N.V., the agriculture equipment maker.

Two weeks after Superstorm Sandy, about 3,000 West Virginia homes and businesses remain without power.

Abbott Laboratories reported Monday that its blockbuster drug Humira showed positive results in treating symptoms of an inflammatory joint disease that causes back pain.

Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in an all-cash deal valued at about $2.34 billion.

COPENHAGEN, Denmark (AP) _ Scandinavia's tri-nation airline SAS AB plans to cut 6,000 jobs _ 40 percent of its work force -- through asset sales and layoffs while reducing pensions and salaries for remaining staff in a plan the CEO called the “final call” for the troubled carrier.

Struggling consumer electronics chain Best Buy says a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10.

Iran's military is to test a new air defense system modeled after the U.S. Hawk system as tensions with the West escalate over the country's suspect nuclear program, the Iranian state TV reported Monday.

An Israeli tank scored “direct hits” Monday on a Syrian army vehicle after a mortar shell landed on Israeli-held territory, the military said, in the first direct confrontation between the countries since the Syrian uprising broke out, sharpening fears that Israel could be drawn into the civil war next door.

Garbage trucks, hulking military vehicles and mud-caked cars move slowly through a Staten Island waterfront neighborhood still reeling from Superstorm Sandy's storm surge. Then comes an outlier: a spotless SUV with three passengers peering out windows at a mangled home choked with sea grass.

With the Super Bowl less than three months away, New Orleans is rushing to lay streetcar tracks through one of its busiest corridors to connect by trolley the Louisiana Superdome and the French Quarter.

CIA Director David Petraeus was shocked to learn his mistress was suspected of sending threatening emails warning another woman to stay away from him, former staff members and friends told The Associated Press Monday.

Mon, Nov 12, 2012