News Archive
National | Tue, Nov 13, 2012

Federal judges across the nation are shouldering criminal caseloads that vary widely in size, sometimes even among judges in the same courthouse, according to a new study.

Best Buy's new CEO said Tuesday that its time for the struggling electronics chain to try to embrace one of its biggest problems, “showrooming” -- when customers check out electronics at its stores and then buy them cheaper online.

A rebound in auto sales has been buoyed by the return of easy lending, even to borrowers with flawed credit histories. Some economists question whether the gains can be sustained without a boost in hiring.

California’s first auction of carbon allowances, a key element of the state’s cap-and-trade program aimed at reducing greenhouse gas pollution, should be blocked, the state’s Chamber of Commerce said in a lawsuit.

A judge ordered Abercrombie & Fitch Co. Chief Executive Officer Michael Jeffries to give a second deposition this month in an age-discrimination lawsuit brought by a former corporate jet pilot in April 2010.

Home Depot Inc.'s net income rose slightly in the third-quarter, as glimmers of a housing market recovery and storm-preparation added to sales and offset costs related to closing stores in China.

Cisco Systems Inc., the world's largest maker of computer networking gear, said Tuesday that U.S. companies are starting to spend again, helping Cisco find more solid footing after some shaky months early this year.

The Supreme Court on Tuesday issued its first opinion of the new term, saying a lawyer cannot combine two laws to sue the federal government for violating identity theft protection laws banning the printing of credit card numbers and expiration dates on receipts.

Zynga's finance chief is leaving the troubled online game company to join Facebook.

UBS AG, the investment bank that’s eliminating 10,000 jobs as it retreats from fixed-income, isn’t giving up on the $550 billion commercial mortgage bond (CMBS) market.

Rising risks, including an eventual increase in interest rates, are leading commercial-property investors to borrow less and expect lower returns, said real estate executives including Rob Speyer and Richard J. Mack.

Nov. 13 (Bloomberg) -- Oil dropped for a second day as the International Energy Agency cut its demand estimate and U.S. inventories were expected to reach a three-month high.

McLEAN, Va. -- In a city filled with iconic landmarks, perhaps nothing better symbolizes how metropolitan Washington operates than the Capital Beltway: the physical embodiment of the gridlock that also grips Washington politics.

Drugmaker Pfizer Inc. expects to pay about $825 million to resolve government and civil lawsuits involving numerous medicines, according to a filing with regulators.

U.S. homeowners are doing a better job of keeping up with their mortgage payments, aided by an improving housing market and low interest rates that are making it easier to refinance.

Financial markets focused their attention on the future of Greece on Tuesday as the country's creditors failed to agree on giving it the next installment of its rescue loans.

It is fitting that Steven Spielberg’s widely praised “Lincoln” has been released in the same period in which same-sex marriage has attracted close attention from both voters and the Supreme Court. More than any other American president, Abraham Lincoln thought deeply about the complex relationship between moral commitments and political constraints.

Japan’s leaders just can’t seem to put the 19th century behind them.

Saturday night on the border between Jordan and Syria: Colonel Nawaf Tahrawi, a commander of the Royal Jordanian Border Guard, climbed to the top of a three-story concrete watchtower, built next to a scrub-filled streambed.

European finance ministers inched toward strengthening their banking sectors and the management of their economies at a meeting in Brussels on Tuesday, but put off decisions on comprehensive solutions to the region's financial crisis.

U.S. stock futures are heading lower as a deal to rescue the Greek economy now looks much less iron clad than it had just one day ago, pushing markets down in Asia and Europe.

Nov. 13 (Bloomberg) -- Oil declined for a second day in New York amid speculation that U.S. crude inventories rose last week and after the International Energy Agency cut its forecast for global demand growth this quarter.

Nov. 13 (Bloomberg) -- Effects of the “fiscal cliff” debate looming over the U.S. budget are already being felt as commercial customers at Bank of America Corp. put off purchases, Chief Executive Officer Brian T. Moynihan said.

Nov. 13 (Bloomberg) -- Vincent Reinhart, chief U.S. economist at Morgan Stanley, said the U.S. slipping over the so- called “fiscal cliff” at the end of the year may be acceptable if it allows U.S. politicians a few extra weeks to come up with a budget deal.

Small business owners remained cautious in October as they awaited the outcome of the presidential election, according to a survey released Tuesday by the National Federation of Independent Business.

Nov. 13 (Bloomberg) -- France called for the European Union to press ahead with plans for a banking union amid disagreement on how a proposed new supervisor should look and how many banks it should oversee.

Nov. 12 (Bloomberg) -- 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.

Lawyers for Facebook have added a New York man's arrest on fraud charges to their list of reasons his lawsuit claiming part ownership of the social networking giant should be dismissed.

Nov. 13 (Bloomberg) -- A bartender and a dog walker are among the federal court jurors who are set to hear opening arguments in the insider-trading trial of Level Global Investors LP co-founder Anthony Chiasson and Todd Newman, a former portfolio manager for Diamondback Capital Management LLC.

A judge has cut by more than half the $40 million jury verdict that casino mogul Steve Wynn was recently awarded against “Girls Gone Wild” founder Joe Francis.

Labor leaders said Tuesday that President Barack Obama remains committed to preserving tax cuts for middle class families and ensuring the wealthy pay more in taxes, outlining plans for a public campaign to pressure Republican lawmakers.

Nov. 13 (Bloomberg) -- Microsoft Corp. pushed out Steven Sinofsky, president of the Windows operating system division, after clashes with executives, including Chief Executive Officer Steve Ballmer, people with knowledge of the move said.

Nov. 14 (Bloomberg) -- Hitachi Ltd. is showing Sony Corp. and Panasonic Corp. that there can be life after TV.

Nov. 13 (Bloomberg) -- Comcast Corp.’s NBC Universal is cutting about 450 jobs at several divisions of the broadcast, film and cable company, according to two people with knowledge of the situation.

Jurors listening to opening statements in the latest New York City insider trading trial have been promised a deep look into the hedge fund industry as they decide the fates of two former money managers.

Nov. 13 (Bloomberg) -- Crius Energy Trust, a Canadian firm seeking to invest in a U.S. energy retailer, was little changed in its trading debut after raising C$100 million ($99.7 million) in a scaled-back initial public offering.

Nov. 13 (Bloomberg) -- Research In Motion Ltd.’s more than 1 million government customers in North America are set to upgrade to new BlackBerry 10 devices in droves, Chief Executive Officer Thorsten Heins said today.

Nov. 13 (Bloomberg) -- Macy’s Inc., the second-largest U.S. department-store chain, is under pressure to ditch Donald Trump- branded apparel after the billionaire mounted political attacks on President Barack Obama in the election campaign.

Nov. 13 (Bloomberg) -- Xerox Corp., the printer and copier pioneer, predicted its services business will expand to two- thirds of revenue in 2017 from about half this year, helping mitigate waning demand for paper documents.

Slightly more Americans will hit the road this Thanksgiving, according to AAA. That includes people who are choosing to drive instead of fly as household budgets remain tight.

Shares of AK Steel Holding Corp. fell Tuesday after the company forecast a wider-than-expected loss in the fourth quarter on lower steel prices and a large income tax charge.

Nov. 13 (Bloomberg) -- Berkshire Hathaway Inc. replaced the head of a building-products unit with $2.5 billion in annual sales as Chief Executive Officer Warren Buffett prepares the company for a U.S. housing rebound.

Berkshire Hathaway says the chairman and CEO of its building products company is leaving Johns Manville, and will be replaced by the company's current chief financial officer.

Nov. 13 (Bloomberg) -- Cisco Systems Inc., the biggest maker of computer networking equipment, reported quarterly profit that exceeded analysts’ estimates as price reductions helped spur sales and cost cuts kept margins intact.

A senior executive at Research In Motion says its much-delayed BlackBerry 10 smartphones will be released “not too long” after an official launch event on Jan. 30.

Nov. 13 (Bloomberg) -- Federal Reserve Vice Chairman Janet Yellen backed a proposal to link the Fed’s zero interest-rate policy to progress toward meeting its goals for inflation and employment rather than to a calendar date.

Cyprus' Central Bank chief says “it's very important” to sign a bailout agreement with potential creditors by next month in order to calm jittery investors.

Nov. 13 (Bloomberg) -- Treasury 10-year notes gained for a fourth day before President Barack Obama meets Democratic and Republican leaders in Congress this week for negotiations to avert the so-called fiscal cliff.

Gov. Andrew Cuomo plans to request $30 billion in federal aid to rebuild after Superstorm Sandy, which heavily damaged parts of New York City and Long Island, he said Monday.

Nov. 13 (Bloomberg) -- A gauge of U.S. corporate credit risk increased as the International Monetary Fund failed to agree with euro-area finance ministers on a strategy to help Greece bring down its debt load.

Nov. 13 (Bloomberg) -- The euro fell to two-month lows against the dollar and Swiss franc as European finance ministers struggled to agree on how to provide additional aid for Greece, curbing demand for the region’s common currency.

Nov. 13 (Bloomberg) -- Texas had the highest number of Thanksgiving cooking-related fire claims from 2007 through 2011 as turkey frying led to more accidental blazes, State Farm Mutual Automobile Insurance Co. said.

A group of Latin American leaders declared Monday that votes by two U.S. states to legalize marijuana have important implications for efforts to quash drug smuggling, offering the first government reaction from a region increasingly frustrated with the U.S.-backed war on drugs.

Thousands of military homes in southern New Mexico and West Texas will be fitted with solar panels as part of a $1 billion plan by a California company to bring solar to military installations across the country.

Fitch Ratings is lowering the issuer default ratings of J.C. Penney further into junk status as investors worry that the department store operator's everyday low pricing strategy won't work.

A New York attorney has filed a lawsuit claiming negligence by two Long Island power companies after Superstorm Sandy and the nor'easter.

Authorities have reached a $210 million settlement with BNY Mellon subsidiary Ivy Asset Management for advising clients to invest with Wall Street swindler Bernard Madoff, whose multibillion-dollar fraud landed him in federal prison, New York Attorney General Eric Schneiderman said Tuesday.

German investor confidence in Europe's largest economy slipped unexpectedly this month over worries that growth will cool over the next six months, a survey showed Tuesday.

Nov. 13 (Bloomberg) -- Danske Bank A/S, which is cutting 3,000 jobs after being dragged through housing bubbles in Denmark and Ireland, is now bracing for a possible adjustment in Sweden’s property market.

Nov. 13 (Bloomberg) -- New York City’s commercial-property market will rebound from Hurricane Sandy as it has from previous disasters, according to local real estate executives.

Nov. 5 (Bloomberg) -- Regardless of whether Mitt Romney or Barack Obama wins the presidential election Tuesday night, one of the first orders of business will be to repair the deep rift between Washington and Wall Street.

A Royal Navy submariner on Tuesday admitted collecting secret coding programs that could aid an enemy of the state, and meeting with people he believed were Russian agents.

Iran said Tuesday it successfully tested a new air defense system modeled after the U.S. Hawk system during a drill in the country's east. A senior Iranian official called the maneuvers a “slap” to America and Israel.

Independent Sen.-elect Angus King of Maine says he probably won't keep people guessing long about which party he will align himself with.

Tue, Nov 13, 2012