News Archive
National | Mon, Dec 3, 2012

Dec. 3 (Bloomberg) -- While defense companies can handle additional Pentagon budget cuts, across-the-board reductions called for under sequestration must be averted, Northrop Grumman Corp. Chief Executive Officer Wes Bush and other industry executives said.

U.S. stocks fell, following a two-week advance for the Standard & Poor’s 500 Index, as an unexpected contraction in manufacturing spurred concern about the potential economic toll from the so-called fiscal cliff.

The market for traditional personal computers has no growth left because people are increasingly using mobile devices to connect to the Web, said Rick Sherlund, an analyst at Nomura Holdings Inc. covering Microsoft Corp.

Dell Inc. advanced after Goldman Sachs Group Inc. upgraded the stock to "buy" and said the company’s net cash balance could present an opportunity for a leveraged buyout.

NEW YORK — Television viewers were once called couch potatoes. Many are becoming more active while watching now, judging by the findings in a new report that illustrates the explosive growth in people who watch TV while connected to social media on smartphones and tablets.

Advanced Micro Devices Inc., the second-largest maker of personal-computer processors, rose to the highest level in six weeks as some investors bet that its largest shareholder could help avert a cash shortfall.

Ford Motor Co., seeking to revive sales of Lincoln vehicles, is fielding the brand’s first Super Bowl spot as well as a television commercial that portrays the U.S. president who gave the luxury line its name.

Google Inc., which bought Motorola Mobility to gain leverage in the global legal battle over smartphone and tablet computer inventions, can’t use some of its patents to block sales of Microsoft Corp. products, a federal judge ruled.

Netflix Inc. fell the most in more than a month following a report that said Verizon Communications Inc.’s joint-streaming venture with Coinstar Inc. will undercut the world’s largest subscription service.

When it comes to Pennsylvania’s presidential politics, Republicans are like the cartoon character Charlie Brown, who every time he prepares to kick a football, it gets pulled back by his pal Lucy.

Oracle Corp. will pay three of next year's quarterly dividends this year in an apparent attempt to avoid possible tax hikes for its investors.

Facebook Inc. is letting users vote on whether they should get to cast ballots before future changes to policies for privacy and data-collection, following pressure from regulators to improve transparency.

News Corp. said Monday that its new publishing company will keep the News Corp. name, while its separate media and entertainment company will be renamed Fox Group.

Sam Zell’s Equity Residential and AvalonBay Communities Inc. are drawing investors back to apartment stocks four months after their best days looked to be behind them.

WASHINGTON (AP) _ House Republicans put forth a $2.2 trillion “fiscal cliff” counteroffer to President Barack Obama on Monday, calling for raising the eligibility age for Medicare, lowering cost-of-living hikes for Social Security benefits and bringing in $800 billion in higher tax revenue -- but not raising rates for the wealthy.

U.S. builders increased their spending on construction projects in October by the largest amount in five months, led by a surge in housing.

Manufacturing unexpectedly contracted in November for the fourth month in the last six as factory managers grew more concerned about the potential economic toll stemming from the so-called fiscal cliff.

and it could be a bad one.

NASA's Curiosity rover has indeed found something in the Martian dirt. But so far, there's no definitive sign of the chemical ingredients necessary to support life.

A storm is brewing in Europe as nations try to force Internet powerhouses like Google and Amazon to pay more in taxes.

its best November since 2007.

Dec. 3 (Bloomberg) -- Crude traded at the highest level in two weeks in New York as China’s official manufacturing index rose to a seven-month high, signaling economic recovery in the world’s second-biggest crude consumer.

U.S. stock futures are rising ahead of reports on the manufacturing and auto industries.

Dec. 3 (Bloomberg) -- Crude rose to the highest level in two weeks after Chinese manufacturing grew the most in seven months in November.

Dec. 3 (Bloomberg) -- President Barack Obama is betting that his re-election gave him the political clout to force Republicans to accept higher taxes on upper-income Americans as a step toward reducing the federal deficit.

As surely as little boys on sleds follow the first snowfall, the departure of Mary Schapiro as chairman of the Securities and Exchange Commission has occasioned one fawning encomium after another from the press.

By this time, anyone with a heartbeat knows that there is some sort of unique financial rock formation posing a threat to the U.S. economy at year-end; that if President Barack Obama and Congress don’t find a way around it — something at which Washington excels — bad things will happen to all of us.

Drugmaker Pfizer Inc. is starting another round of layoffs, targeting U.S. sales representatives who promote Pfizer primary care medicines to doctors.

U.S. manufacturing shrank in November to its weakest level since July 2009, one month after the Great Recession ended. Worries about automatic tax increases in the New Year cut demand for factory orders and manufacturing jobs.

Agribusiness conglomerate Archer Daniels Midland Co. is increasing its buyout offer for GrainCorp by almost 4 percent and disclosed it has already added to its stake in the Australian grain handler.

Dell's stock climbed more than 5 percent on Monday as a Goldman Sachs analyst raised his rating and price target on the company. The analyst said that there may be too much skepticism over the personal computing segment.

Bending over beds of shriveled strawberry plants, former farmworker Domitila Martinez pulls pieces of black plastic row covers in preparation for next season's planting. Except this time, she's the boss.

Nomura Securities on Monday upgraded shares of Verizon Communications Inc. from “Neutral” to “Buy,” saying the U.S. market leader in wireless has a head start on new technology and is unlikely to lose out to smaller rivals, even though those companies are strengthening their hands.

Dish Network Corp. said Monday that it declared a special dividend of $1, lower than its end-of-year payout last year and in 2009.

Stocks are mostly lower in midday trading following an unexpected contraction in U.S. manufacturing last month. Concerns about automatic tax increases in the New Year caused factory orders to decline.

Federal regulators have charged the Chinese affiliates of five of the biggest U.S. accounting firms with impeding the government's investigation of Chinese companies by refusing to turn over documents.

Titan International Inc. said Monday that it expects to post 2012 revenue of about $1.8 billion to $1.9 billion.

Hassan al-Kubaisi considers it a gift from above that drivers in oil- and gas-rich Qatar only have to pay $1 per gallon at the pump.

Sure the rich may have to pay more in taxes. But a “fiscal cliff” budget deal could mean pain for nearly everyone else, too: higher airline ticket prices, for example, an end to Saturday mail delivery, fewer food stamps and lower farm subsidies.

News that manufacturing activity in China grew for the first time in 13 months helped offset disappointment over weaker U.S. figures, nudging global stocks higher on Monday.

Dec. 3 (Bloomberg) -- Smarter, more efficient use of water may save utilities $12.5 billion a year, pay for infrastructure improvements and offset some of the water-scarcity issues that affect at least one in three people, according to a report.

Former presidential candidate and Massachusetts governor Mitt Romney is rejoining Marriott International's board of directors.

Dec. 3 (Bloomberg) -- Oracle Corp. has accelerated payment of three quarterly dividends for a total of 18 cents a share.

Dec. 3 (Bloomberg) -- Gold rebounded in New York as the biggest weekly drop in more than five months boosted physical purchases and a weaker dollar increased demand for an alternative investment.

Dec. 3 (Bloomberg) -- Federal Reserve Bank of St. Louis President James Bullard said replacing Operation Twist’s swap of Treasuries with outright purchases of the same amount of securities would represent a policy easing that could risk higher inflation.

Dec. 3 (Bloomberg) -- AMC Networks Inc.’s IFC and WE TV are among the networks at risk of being dropped by Time Warner Cable Inc. now that Chief Executive Officer Glenn Britt is taking a harder line on renewing channels with low ratings.

A Piper Jaffray analyst downgraded shares of fertilizer maker CF Industries Holdings Inc. on Monday, saying the stock is trading at a fair price.

Dec. 3 (Bloomberg) -- News Corp., moving ahead with a plan to split into two companies, appointed Wall Street Journal editor Robert Thomson as head of the new publishing entity and said it would call the entertainment-focused business Fox Group.

The White House is rejecting a Republican counteroffer aimed at averting the “fiscal cliff,” saying it does not meet what the White House calls “the test of balance.”

Dec. 4 (Bloomberg) -- Bayerische Motoren Werke AG’s BMW U.S. sales rose 45 percent in November, further chipping away at Daimler AG’s Mercedes-Benz in luxury-auto deliveries this year.

ImmunoCellular Therapeutics Ltd. on Monday named Andrew Gengos as president and CEO.

Dec. 4 (Bloomberg) -- Curt Schilling, the former baseball All-Star, struck up a conversation at a March 2010 fundraiser that would sow the seeds of financial ruin and has led to claims of a $75 million fraud.

Sea Launch AG says it has placed a communication satellite into orbit for global provider Eutelsat.

Dec. 3 (Bloomberg) -- Copper swung between gains and drops in New York as investors weighed signs of a revival in Chinese manufacturing against a continuing contraction in the euro zone amid the region’s debt crisis.

Dec. 3 (Bloomberg) -- Richard Branson is unlikely to relinquish control of Virgin Atlantic Airways Ltd. as part of any deal for Singapore Airlines Ltd. to exit its holding, the U.K. carrier’s chief executive officer, Steve Ridgeway, said.

Stratasys Inc., which makes three-dimensional printers and prototyping systems, has completed its all-stock acquisition of rival Objet Ltd.

Dec. 3 (Bloomberg) -- Treasuries 10-year notes fell, trimming last week’s advance, as optimism a Greek offer to buy back some of its bonds will succeed undermined demand for the safest fixed-income assets.

Dec. 3 (Bloomberg) -- U.S. stock futures rose, following a two-week rally in the Standard & Poor’s 500 Index, after Chinese manufacturing data added to signs of economic recovery and as Greece made a debt buyback offer.

Dec. 3 (Bloomberg) -- Computer Sciences Corp. has agreed to sell its credit services business to Equifax Inc. for $1 billion in cash, the second divestiture in six weeks as part of an ongoing turnaround effort.

Dec. 3 (Bloomberg) -- A gauge of U.S. corporate credit risk fell to the lowest level in almost four weeks as Chinese manufacturing data added to signs of economic recovery.

Dec. 3 (Bloomberg) -- Pope Benedict XVI’s new Twitter account is attracting a surge in followers after the Vatican announced that the pontiff will make his first post next week.

Dec. 3 (Bloomberg) -- Rupert Murdoch’s U.K. newspaper unit, reeling from a phone-hacking scandal, named its third chief executive officer in less than 18 months as the parent company prepares to split into two.

Dec. 3 (Bloomberg) -- Construction spending climbed almost three times more than forecast in October, reflecting broad- based gains that signal the industry is poised to make a bigger contribution to economic growth.

Conn's returned to a profit in its third quarter as the retailer booked fewer charges and sales of furniture and mattresses strengthened. The results topped Wall Street's view, and the company raised its fiscal 2013 forecast and gave a fiscal 2014 earnings outlook above analyst estimates, but shares fell slightly on separate news of a new stock offering.

Dec. 3 (Bloomberg) -- Merck & Co. moved an experimental Alzheimer’s treatment into the next stage of testing as it aims to become the first drugmaker with a medicine that slows the progression of the mind-wasting disease.

Dec. 3 (Bloomberg) -- New York Times Co. Chairman Arthur Sulzberger Jr. told employees that he is seeking “significant cost savings” throughout the company’s media group, including buyouts that would encourage news employees to retire early.

Gold producer Newmont Mining Corp. said Monday that CEO Richard O'Brien will retire on March 1 and be replaced by the company's chief operating officer, who was recruited just a year ago.

Packaging maker Sonoco Products Co. on Monday named M. Jack Sanders as its next president and CEO.

The Obama administration stressed anew Monday that it wouldn't accept any use of chemical weapons by the Assad regime, but didn't say if it had any new evidence to suggest a possible deployment of the stockpiles by the embattled Syrian government.

South Korea said Monday that it plans to reroute passenger flights over the Yellow Sea to avoid possible collisions with debris from a long-range rocket that North Korea plans to launch this month.

Former President George H.W. Bush is starting the week in a Houston hospital where he's spent several days for treatment of a lingering cough related to bronchitis.

The British government said Monday it would spend more money catching tax avoiders, after a lawmakers' committee accused major multinational companies including Starbucks, Google and Amazon of “immorally” dodging tax.

Dec. 3 (Bloomberg) -- The U.S. Supreme Court deferred saying whether it will hear arguments for the first time on gay marriage, taking no action on 10 pending appeals involving the rights of same-sex couples.

A federal judge has ruled Somalia's territorial waters extend only 12 miles from shore, allowing the U.S. to continue its prosecution of the murders of four Americans aboard their pirated yacht.

Israel rejected a wave of American and European condemnations Monday over plans to build thousands of new homes in West Bank settlements, vowing to press forward with the construction in the face of widespread international opposition.

Mon, Dec 3, 2012