News Archive
National | Tue, Nov 27, 2012

A Hostess Brands Inc. union and a pension fund asked the judge overseeing the company’s bankruptcy to appoint a Chapter 11 trustee to wind down the maker of Twinkies and Wonder Bread.

ConAgra Foods is set to become the nation's biggest maker of store-brand foods, with a $5 billion purchase of Ralcorp that expands its stake in the growing market for cereals, crackers and other packaged foods sold under private labels.

The RV industry's recovery from the Great Recession has picked up speed.

An Iraq war contractor that lost an $85 million verdict to a group of sickened Oregon soldiers has filed a lawsuit seeking to force the federal government to pay the soldiers' damages.

A New York man claiming part ownership of Facebook indicated Tuesday that his lawyer wants off the case because he's received threats, but he opposed the lawyer's motion to withdraw.

Investors looking for new places to park their cash in Hong Kong are driving up prices for parking spaces, sparking fears of a bubble in the Asian financial center.

Buying Archstone Inc. will give Equity Residential and AvalonBay Communities Inc. apartments in U.S. markets where development is difficult and rents are rising, even as growth of the multifamily market slows nationally.

Consumer confidence climbed to a four-year high, home prices increased by the most since 2010 and demand for business equipment rose, signaling resilience in the U.S. economy as the new year approaches.

Hewlett-Packard now has a legal headache to compound its misery as the company tries to recover from a series of setbacks that have hammered its stock price and raised doubts about its future.

Apple Inc. and LG Electronics Inc. infringed an Alcatel-Lucent SA unit’s patents for electronic devices including phones and computers, a lawyer said at the start of a trial.

When does your co-worker also count as your supervisor? The Supreme Court may make a final decision on whether to draw a legal line between work colleagues and work managers, at least when it comes to harassment and retaliation claims.

Stocks slumped on Wall Street Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks over the U.S. budget impasse in Washington.

Nov. 27 (Bloomberg) -- Oil fell for a second day as U.S. crude inventories were forecast to increase and as Senate Majority Leader Harry Reid said budget talks in Washington have made little progress.

Nov. 27 (Bloomberg) -- Research In Motion Ltd. fell the most since June after the BlackBerry’s U.S. market share shrank to 1.6 percent, hurt by Apple Inc.’s iPhone winning more customers.

Home prices rose in the year ended in September by the most since July 2010, showing the recovery in the U.S. real estate market is a source of strength for the economy.

President Barack Obama plans to make a public case this week for his strategy for dealing with the looming fiscal cliff, traveling to the Philadelphia suburbs Friday as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less.

U.S. consumer confidence rose this month to its highest level in almost five years, helped by a better outlook for hiring over the next six months.

Holiday shopping in the U.S. got off to a brisk start over the four-day Thanksgiving weekend -- spending over the four-day weekend totaled $59.1 billion, up 12.8 percent from 2011.

Nov. 27 (Bloomberg) -- U.S. stock-index futures were little changed as euro-area finance ministers eased terms on loans to Greece and investors awaited reports on durable-goods orders and consumer confidence.

Nov. 27 (Bloomberg) -- Demand for goods such as machinery and electronics climbed in October by the most in five months, signaling companies are starting to overcome concern the looming fiscal cliff will derail the U.S. economy.

Nov. 27 (Bloomberg) -- ACM Shipping Group Plc fell the most since February in London trading after cutting its annual outlook as slumping rates to transport commodities hurt commissions from arranging vessel hires.

Nov. 27 (Bloomberg) -- International Petroleum Investment Co. plans to raise about $2.9 billion in bonds, the biggest Arab corporate debt sale this year, as the Abu Dhabi state-owned investor considers financing for energy projects.

Nov. 27 (Bloomberg) -- Bombardier Inc. won its biggest-ever business-jet deal from luxury air-charter specialist VistaJet Holding SA, which ordered 56 of the Canadian company’s Global- series aircraft plus 86 options as it taps Asian demand.

Nov. 27 (Bloomberg) -- The Argentine government and holders of the country’s restructured bonds asked for an emergency stay to block orders by a U.S. Judge that prevent the country from paying interest on the debt next month without transferring $1.3 billion to owners of defaulted notes.

Nov. 27 (Bloomberg) -- Spain’s unemployment rate will rise to almost 27 percent next year, the Organization for Economic Cooperation and Development forecast, as it urged the government not to chase its deficit targets with deeper budget cuts.

Nov. 27 (Bloomberg) -- Pakistan State Oil Co., the nation’s biggest fuel retailer, plans to build a $350 million storage facility in the south to secure supplies, according to its chief executive.

Nov. 27 (Bloomberg) -- Emerging-market stocks rose, sending the benchmark index to its highest level in almost three weeks, after easing of terms on emergency aid for Greece boosted appetite for riskier assets.

Nov. 27 (Bloomberg) -- Indian stocks rose the most in Asia after Europe, the country’s top trading partner, reached a deal on Greece and as Moody’s Investors Service repeated its stable outlook on the South Asian nation’s credit rating.

Nov. 27 (Bloomberg) -- Egypt sold 14.2 billion Egyptian pounds ($2.3 billion) of seven-day repurchase agreements today, the most in four months, after domestic debt yields advanced amid growing opposition to President Mohamed Mursi.

Nov. 27 (Bloomberg) -- German bonds declined, with 10-year yields rising the most in a week, after European finance ministers meeting in Brussels eased the terms on emergency aid for Greece, damping demand for the region’s safest assets.

Nov. 27 (Bloomberg) -- Nigeria’s government must spend less on itself and invest more in the economy if it wants to attract long-term investment in the capital market, Central Bank of Nigeria Governor Lamido Sanusi said.

Siri, the helpful voice of the iPhone, will work for drivers of two small Chevrolets starting early next year.

Home prices increased in September in most major U.S. cities, more evidence of a housing recovery that is providing a lift to the fragile economy.

U.S. companies in October increased their orders of machinery and equipment that signal investment plans by the largest amount in five months, a hopeful sign for future economic growth.

are left to fester, a leading international economic body said Tuesday.

A deal to give Greece more cash was greeted with measured relief Tuesday, though concerns remained over the country's ability to implement its required reforms as the economy shrinks.

Nov. 27 (Bloomberg) -- Is democracy in Egypt over before it started? Skeptics abroad and protesters in Egypt think so after President Mohamed Mursi’s unilateral decree that his decisions are not subject to judicial review by the nation’s constitutional court.

Baylor University Medical Center, Baylor Health Care System and HealthTexas Provider Network will pay $907,000 to settle allegations of submitting false claims to the government.

The Supreme Court on Monday questioned a monopoly on hospital services in southwestern Georgia.

The Supreme Court won't hear an appeal from a California table grape organization over a lawsuit seeking to invalidate several government table grape patents.

Nov. 27 (Bloomberg) -- JPMorgan Chase & Co. was sued by CIFG Assurance North America Inc., which says it lost more than $100 million on collateralized debt obligations created by Bear Stearns, the investment bank JPMorgan acquired in 2008.

Clothing is king in Bangladesh, a country that exports more garments than any other in the world except China. It is responsible for four out of every five export dollars and has turned factory owners into members of parliament and leaders of sports clubs.

Nov. 27 (Bloomberg) -- Ericsson AB, the world’s largest maker of wireless networking equipment, sued Samsung Electronics Co. for patent infringement, saying the South Korean phone maker failed to extend a licensing deal after years of negotiations.

Nov. 27 (Bloomberg) -- The United Arab Emirates government is reviewing a draft commercial law allowing full foreign ownership of some companies, according to an Abu Dhabi official.

A federal judge has recused himself from presiding over a $1.2 billion defamation lawsuit against ABC because his daughter-in-law works as a producer on one of the network's morning shows.

Nov. 28 (Bloomberg) -- Dar Al Arkan Real Estate Development Co.’s Islamic bonds are outperforming Gulf Cooperation Council company debt this quarter as the Saudi Arabian developer benefits from the nation’s new mortgage law.

Stocks are closing lower on Wall Street following indications that little progress is being made in Washington in talks over how to narrow the U.S. government's budget deficit.

A federal judge is ordering tobacco companies to publish corrective statements that say they lied about the dangers of smoking and to disclose smoking's health effects, including the death of 1,200 people a day.

Nov. 27 (Bloomberg) -- Corning Inc., the world’s largest maker of glass for flat-panel televisions, rose the most in seven months after forecasting stronger-than-expected retail demand for consumer electronics this quarter.

Nov. 27 (Bloomberg) -- Green Mountain Coffee Roasters Inc., the maker of Keurig brewers and single-serve pods, said fiscal fourth-quarter profit rose 22 percent as K-Cup sales gained.

Nov. 27 (Bloomberg) -- General Motors Co., which has failed to meet sales goals for the Chevrolet Volt plug-in hybrid, plans to begin selling an all-electric version of the Chevrolet Spark initially in California and Oregon in 2013’s third quarter.

Neiman Marcus Inc. said Tuesday that its fiscal first-quarter net income rose 4 percent, helped by higher sales at existing stores.

Billionaire Warren Buffett is continuing to promote a new book about his career with a series of interviews.

Nov. 27 (Bloomberg) -- Viacom Inc., the media giant that owns the Paramount film studios and cable networks such as Nickelodeon and MTV, promoted Wade Davis to the job of chief financial officer, replacing Jimmy Barge.

Nov. 27 (Bloomberg) -- Walt Disney Co.’s “Doc McStuffins” has emerged as the top-rated cable TV show for preschoolers, taking viewers from Viacom Inc.’s children’s networks and its long-running hit “Dora the Explorer.”

Bombardier Inc., the world's third-largest maker of civilian commercial aircraft, said Monday it has made the biggest sale of business aircraft in its history, potentially worth up to $7.8 billion if all options are exercised.

Steel maker Steel Dynamics Inc. said Tuesday it will build a new heat-treating system capable of producing 350,000 tons of steel per year at its structural and rail division facility in Columbia City, Ind.

Green Mountain Coffee Roasters Inc.'s shares soared 22 percent in after-hours trading Tuesday after the beleaguered coffee company reported fiscal fourth-quarter results and guidance that far exceeded market expectations.

Nov. 27 (Bloomberg) -- Cinemark Holdings Inc. faces a trial in May 2014 over claims that it failed to take security precautions before the July 20 theater shootings that killed 12 people in Aurora, Colorado.

Republicans' newfound willingness to consider tax increases to avert the “fiscal cliff” comes with a significant caveat: larger cuts than Democrats seem willing to consider to benefit programs like Medicare, Medicaid and the president's health care overhaul.

Nov. 27 (Bloomberg) -- Some Groupon Inc. directors plan to discuss a possible leadership change amid concern that Chief Executive Officer Andrew Mason is mishandling the company’s turnaround, said a person familiar with the matter.

Dollar General shares rose before Tuesday's opening bell on news that will join the S&P 500.

Nov. 27 (Bloomberg) -- The Canadian currency rose to almost a three-week high against its U.S. peer as Greece won easier terms on its debt, easing fears of a global slowdown and strengthening risk appetite.

Nov. 27 (Bloomberg) -- The Bovespa index rose after its biggest daily drop in a week as raw-material producers including pulp maker Fibria Celulose SA followed commodities higher on a deal to release aid to Greece.

Nov. 27 (Bloomberg) -- Rolls-Royce, the ultra-luxury car brand owned by Bayerische Motoren Werke AG, plans to increase outlets by 14 percent within five years as it chases growing numbers of wealthy customers.

A European Union official has told The Associated Press Tuesday that a deal has been reached that would pave the way for Greece to receive the next installment of its much-needed bailout loans.

Nov. 27 (Bloomberg) -- Kenya’s trade deficit narrowed in September to the lowest level in five months, as the value of imports fell at a faster pace than exports.

Nov. 27 (Bloomberg) -- Soybeans reached a two-week high in Chicago on concern that planting delays in South America may curb production. Wheat advanced on the worst U.S. winter-crop conditions in at least 27 years.

Nov. 27 (Bloomberg) -- Gold headed for a second consecutive decline in New York as physical demand from India, last year’s biggest buyer, remained slack and a rebounding dollar curbed demand for an alternative investment.

Nov. 27 (Bloomberg) -- Hungary’s central bank cut its main interest rate for a fourth time in as many months as a deepening recession outweighed the European Union’s fastest inflation and a credit-rating downgrade.

Nov. 27 (Bloomberg) -- Copper reached a three-week high in New York after European finance ministers agreed to relax terms of financial aid for Greece, easing concern that the region’s debt crisis will curb demand.

Nov. 28 (Bloomberg) -- Australian states’ relative borrowing costs are falling from the highest in almost four years as Prime Minister Julia Gillard’s fiscal discipline boosts demand for higher-yielding debt.

Nov. 27 (Bloomberg) -- Croatia sold 927 million kuna ($159 million) of domestic Treasury bills, a third more than the original offer, as the government took advantage of demand to finance its budget deficit.

Nov. 17 (Bloomberg) -- Secretary of State Hillary Clinton welcomed China and other Asian countries to join U.S.-led trade talks in mapping out a foreign policy focused more on economic strength than military might.

Nov. 27 (Bloomberg) -- Spanish nationalized banks including Bankia SA will have to make major cuts to their balance sheets by order of the European Commission, said Antonio Carrascosa, head of the government’s bank bailout fund.

Nov. 27 (Bloomberg) -- Pentagon leaders intend to present President Barack Obama by year-end with options for how many U.S. troops to keep in Afghanistan next year and beyond, according to the Defense Department’s chief spokesman.

Shakespeare's Globe, the open-air London playhouse that helped win modern audiences over to all-weather outdoor theatergoing, is embracing the great indoors.

Nov. 27 (Bloomberg) -- As New York looks to the future after Hurricane Sandy, it must remember a great paradox of cities. The world’s urban agglomerations are often particularly vulnerable to natural and man-made disaster, yet they are also especially well-suited to defend their space.

The U.S. Supreme Court on Monday delivered another blow to a 50-year-old anti-eavesdropping law in Illinois, choosing to let stand a lower court finding that key parts of the hotly debated law run counter to constitutional protections of free speech.

Bomb threats forced the evacuation of 24 courthouses across Tennessee Tuesday morning, including the federal building in Memphis, but authorities who are investigating said no devices were found.

Tue, Nov 27, 2012