News Archive
National | Wed, Nov 21, 2012

The British arm of global auditing firm Deloitte says it didn't know of improper or false accounting at Autonomy, a company Hewlett-Packard Co. bought and now accuses of cooking its books.

U.S. stocks rose Wednesday, sending the Standard & Poor’s 500 Index higher a fourth day, as U.S. Secretary of State Hillary Clinton and Egyptian Foreign Minister Mohamed Amr announced a cease-fire between Israel and Hamas.

Hostess Brands Inc. must return to a “liquidation scenario” after mediation with its bakers’ union failed to avert a shutdown that may eliminate more than 18,000 jobs, the judge overseeing the Twinkie maker’s bankruptcy said.

Intel Corp., seeking a replacement for departing Chief Executive Officer Paul Otellini, needs a candidate with credentials internal contenders lack: a record of success in the market for mobile-device semiconductors.

It’s a difficult Thanksgiving season. The nation is deeply divided, facing serious threats abroad and an uncertain economy at home. An unpopular war drags on, and the controversial incumbent president, after a bitter and divisive campaign, has just won re-election with barely 50 percent of the popular vote.

U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing, after shortages blocked homeowners from getting lower rates.

Vivek Jeswani became a landlord by accident when Deutsche Bank AG (NYSE: DB) transferred him to New York two weeks after he moved into a new home in central London.

More Americans this month said the world’s largest economy will improve than at any time in the past decade, led by a surge among Democrats following the re-election of President Barack Obama.

This holiday season, Burger King won't be the only place where you can have it your way.

Google Inc. may skirt the most serious antitrust allegations under investigation by the U.S. as regulators waver on whether they can prove consumers are hurt by the way the company ranks its search results, three people familiar with the matter said.

The stock market crept higher Wednesday ahead of the Thanksgiving holiday. Major market indexes got a slight lift after news broke of a cease-fire agreement between Israel and Hamas in the Gaza Strip.

Nov. 21 (Bloomberg) -- Inc. rose the most in almost nine months after fiscal third-quarter sales beat analysts’ estimates as the software maker benefited from contracts with large corporate customers.

Shares Best Buy fell on Wednesday, as Fitch ratings downgraded its credit ratings the day after the struggling electronics chain reported a weaker-than-expected third quarter, hurt by restructuring charges and slumping sales.

Nov. 21 (Bloomberg) -- Oil advanced for the third time in four days on declining U.S. inventories and rising economic optimism. The gains eased after Israel and Hamas agreed to a cease-fire, reducing concern that supplies would be disrupted.

A measure of the U.S. economy intended to signal future activity rose only slightly last month, suggesting growth could stay weak.

Nov. 20 (Bloomberg) -- Research In Motion Ltd.’s BlackBerry is being dropped by a U.S. government agency that cited the device’s failures.

Nov. 21 (Bloomberg) -- Fewer Americans filed applications for unemployment benefits last week as damage to the labor market caused by superstorm Sandy began to subside.

Nov. 21 (Bloomberg) -- Chrysler Group LLC is emerging a leader in touch screens by letting Ford Motor Co. and General Motors Co. jump ahead and stumble.

The number of people seeking U.S. unemployment aid remained elevated for a second straight week because Superstorm Sandy forced many people to seek temporary benefits.

Greece reacted with dismay Wednesday after European finance ministers failed to agree to release vital rescue loans, with the prime minister warning that the stakes are higher than just his debt-ridden country's future.

Farm and construction gear maker Deere & Co. reported a bigger fourth-quarter profit as it sold more equipment at higher prices, but results still missed analyst expectations.

The nation's crude oil supplies shrank last week, the government said Wednesday.

A bankruptcy court has approved a joint $3 billion buyout bid from Ocwen Loan Servicing and Walter Investment Management for Residential Capital.

China's YY Inc. rose nearly 10 percent in their debut Wednesday on the Nasdaq.

Chip designer MIPS Technologies Inc. says it has received an unsolicited offer of $75 million from CEVA Inc. and thinks that it might beat a previous bid from Imagination Technologies Group plc.

Massachusetts Treasurer Steven Grossman is urging Congress to pass a law allowing states to apply sales taxes to all Internet retail sales.

Nov. 22 (Bloomberg) -- Toyota Motor Corp., which saw its China sales plunge for the last two months, said it expects demand for Japanese cars to soon return to levels before protests erupted in September over a territorial dispute.

Nov. 21 (Bloomberg) -- Vivus Inc., maker of the Qsymia weight-loss medicine that won U.S. approval in July, jumped the most in nine months after insurer Aetna Inc. cleared the way for coverage of the obesity treatment.

Nov. 21 (Bloomberg) -- Hewlett-Packard Co.’s $8.8 billion writedown tied to the purchase of software maker Autonomy Corp. is fueling concern that Chief Executive Officer Meg Whitman and her board aren’t up to the task of engineering a turnaround.

Nov. 21 (Bloomberg) -- A coalition of groups trying to topple Syrian President Bashar al-Assad wants raise $60 billion from allied nations to help rebuild the country when fighting ends, an opposition leader said.

Nov. 22 (Bloomberg) -- Desmond Lim Siew Choon became a billionaire developing a high-end retail mall and an office tower in Kuala Lumpur, wooing Middle Eastern investors and listing the properties as a real estate investment trust.

Facebook is proposing to end its practice of letting users vote on changes to its privacy policies. The company says it will continue to let users comment on proposed updates.

Nov. 21 (Bloomberg) -- Former Autonomy Corp. Chief Executive Officer Mike Lynch said the claim by Hewlett Packard Co. that more than $200 million in improperly recorded revenue led to a $5 billion writedown doesn’t make sense.

Nov. 21 (Bloomberg) -- Facebook Inc. rose to the highest price in almost four months, buoyed as investors’ confidence in the potential for advertising revenue growth overcame a surge in the number of tradeable shares.

U.S. consumers are optimistic the unemployment rate will drop over the next 12 months, boosting their confidence to the highest level in five years.

Nov. 21 (Bloomberg) -- Israel and the Palestinian militant group Hamas agreed to call a halt to more than a week of air strikes and missile attacks, after talks brokered by Egypt’s Islamist government and the U.S.

United Airlines cannot be held responsible for the hijacking of an American Airlines flight and the collapse of a third World Trade Center building after the twin towers fell in the Sept. 11 attacks, a federal judge ruled Wednesday.

Nov. 21 (Bloomberg) -- Oil rose after a blast on a bus in Tel Aviv injured at least 10 people, boosting speculation that the conflict between Israel and the Palestinians of Gaza may disrupt crude supply from the Middle East.

Darth Vader is dead. The evil Emperor exploded after being thrown down a shaft. And Luke Skywalker and his allies destroyed both Death Stars, restoring balance to the Force. For The Walt Disney Co., the prospective new owner of the “Star Wars” franchise, what's left to tell?

The price of oil rose Wednesday afternoon following the announcement of a cease-fire agreement to end a week of fighting between Israel and Hamas militants.

Stocks are finishing higher in a quiet pre-Thanksgiving trading session.

A bankruptcy court judge on Wednesday approved a request by Hostess Brands Inc. to begin winding down its operations.

Nov. 21 (Bloomberg) -- Trimble Navigation Ltd., a maker of global-positioning systems for engineering and construction, got $1.4 billion of loans to replace a smaller debt pact.

Nov. 21 (Bloomberg) -- General Motors Co. agreed to buy the rest of Ally Financial Inc.’s international auto-finance businesses in a deal with proceeds of $4.2 billion as the carmaker seeks to spur a rebound in South America.

Gasoline prices are the highest ever for a Thanksgiving weekend. Assuming you're not taking a sleigh over the river and through the woods to Grandma's, you'll want to save as much as you can on fuel.

Nov. 21 (Bloomberg) -- Hostess Brands Inc. won interim approval from a bankruptcy judge to shut down and start selling the Twinkie maker’s assets after last-minute mediation with its bakers’ union failed to resolve a contract dispute, leaving more than 18,000 jobs at risk.

Nov. 22 (Bloomberg) -- YY Inc. gained in New York trading after the social network operator raised $81.9 million in the first initial public offering in the U.S. by a Chinese company in seven months.

Black Elk Energy has halted the search for a worker missing since Friday's explosion and fire aboard an oil platform in the Gulf of Mexico.

Nov. 21 (Bloomberg) -- U.K. Prime Minister David Cameron said he was “very sad” that the Church of England rejected a plan to let women become bishops and said it needed to be more in touch with society.

Nov. 21 (Bloomberg) -- Treasuries fluctuated after European finance ministers failed to agree on a Greek debt-reduction package.

Nov. 21 (Bloomberg) -- Copper fell for a second day in New York after European finance ministers failed to agree on debt- reduction measures for Greece, stoking concern about the sovereign-finance crisis that threatens to choke demand.

Nov. 21 (Bloomberg) -- Fed funds, the U.S. overnight inter- bank lending rate, opened at 0.17 percent, within the Federal Reserve’s target of zero to 0.25 percent.

toward a wealthy business leader the suspect's firm was connected to, an expert says.

Nov. 21 (Bloomberg) -- Gold swung between gains and losses in New York as the dollar pared gains from near a two-month high and investors and central banks increased bullion holdings.

Nov. 21 (Bloomberg) -- A gauge of U.S. corporate credit risk rose as European finance ministers failed to agree on a debt-reduction package for Greece.

Former Japanese Prime Minister Shinzo Abe said Wednesday that he will spearhead an economic recovery and strengthen Japan's military if his conservative party regains control in elections next month.

Nov. 21 (Bloomberg) -- More Americans this month said the world’s largest economy will improve than at any time in the past decade, led by a surge among Democrats following the re- election of President Barack Obama.

Nov. 21 (Bloomberg) -- The index of U.S. leading economic indicators rose at a slower pace in October as businesses held back on investment in anticipation of domestic fiscal policy changes set to take effect in January.

Residents of the southern Spanish city of Jerez have set fire to mounds of stinking rubbish bags and overflowing trash containers to protest a 20-day refuse collection strike that has left the city resembling a dump in many areas.

Nov. 21 (Bloomberg) -- Confidence among U.S. consumers rose less than anticipated in November, indicating the impending fiscal tightening may be starting to damp Americans’ moods.

The continued inability of Europe to agree on Greece's next batch of bailout cash kept markets in check Wednesday, a day when much of Wall Street is packing up early for the Thanksgiving holiday.

Dozens of non-governmental organizations operating in Russia are refusing to comply with a new law restricting their activities as part of the Kremlin's crackdown on its critics.

The U.S. Embassy in Paris is “categorically refuting” claims in a French magazine report that the U.S. government was behind a hacking attack against computers in the French presidency earlier this year.

A bomb blast ripped through an Israeli bus near the nation's military headquarters in Tel Aviv on Wednesday, wounding 10 people and complicating a major diplomatic push to forge a truce between Israel and Gaza's militant Hamas rulers.

The Federal Communications Commission on Wednesday announced a series of hearings nationwide to try to find ways to avoid widespread loss of communications among first-responders, emergency managers and the general public in disasters like Superstorm Sandy.

Spanish prosecutors have asked a judge to set bail at (euro) 8.2 million ($10.5 million) for the king's son-in-law and his former business partner before their possible trial in a corruption case troubling the monarchy for the past two years.

Feeling the pinch of the sluggish economic recovery, many Americans setting out on the nation's annual Thanksgiving migration had to sacrifice summer vacations, rely on relatives for airfare or scour the Web for travel deals to ensure they made it home.

Turkey's government requested the deployment of NATO's Patriot surface-to-air missiles Wednesday to bolster its defenses along its border with Syria and prevent a spillover of the civil war in that nation, officials said.

The United States and Mexico on Tuesday signed a pact for new rules on sharing water from the Colorado River, capping a five-year effort on how to spread the pain of drought and reap the benefits of wet years.

Nov. 21 (Bloomberg) -- The cease-fire deal ending a week- long battle between Israel and Hamas calls on both sides to end hostilities and for an opening of the borders to allow the free movement of people and goods, Hamas television and Egypt’s state-run Ahram Gate website reported.

Rep. Jesse Jackson Jr., a once-rising political star who has been on a months-long mysterious medical leave for bipolar disorder while facing separate federal investigations, resigned from Congress Wednesday, citing his health problems.

Wed, Nov 21, 2012