News Archive
National | Tue, Dec 4, 2012

When I made an appointment to see Australian Prime Minister Julia Gillard last week, I hoped we would spend most of our time discussing her new effort to better integrate her country into Asia.

U.S. stocks fell Tuesday, sending the benchmark Standard & Poor’s 500 Index lower for a second straight day, after President Barack Obama held his ground about raising tax rates for the highest-income Americans.

J.C. Penney Co., the department-store company undergoing a turnaround led by Chief Executive Officer Ron Johnson, said its operating efficiency may be hurt after it fired employees while others left voluntarily.

Netflix's Internet video service has landed the U.S. rights to show Disney movies shortly after they leave theaters, a coup that could turn into a costly mistake if the deal doesn't bring in more customers.

The city of Chicago is asking a judge to erase a landmark verdict that found there exists a code of silence in the police department that leads officers to protect rogue colleagues -- a legal move that critics say is calculated to deny others suing over alleged police abuse from citing the decision as a precedent.

Oil declined for the first time in four days in New York after President Barack Obama’s administration rejected a Republican budget plan.

Toll Brothers Inc. said its fiscal fourth-quarter net income soared, helped by a large income tax benefit and a 48 percent rise in revenue.

Renee and Dwaine McCuistion, who lost their Las Vegas home after defaulting in 2010, are feeling lucky again.

A federal appeals court on Monday upheld a $319 million verdict over profits from the game show “Who Wants to Be a Millionaire” and rejected Walt Disney Co.'s request for a new trial.

Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington.

A measure of U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006.

Dec. 4 (Bloomberg) -- Gold fell to a four-week low in New York, dropping below $1,700 an ounce, as a stalemate in U.S. budget talks weighed on raw-material prices.

Markets are taking a breather between a dismal manufacturing report Monday and the release of crucial job numbers Friday.

Dec. 4 (Bloomberg) -- U.S. House Speaker John Boehner proposed $2.2 trillion of spending cuts and new revenue that lack what President Barack Obama calls essential for a fiscal agreement: higher tax rates for top-earning Americans.

Dec. 4 (Bloomberg) -- Oil dropped for the first time in four days in New York amid forecasts of rising U.S. fuel supplies and concern that a failure by lawmakers to agree on a budget plan may harm economic growth.

A traveling hospital worker accused of stealing drugs and infecting patients with hepatitis C through contaminated syringes pleaded not guilty to the charges in federal court on Monday.

Dec. 4 (Bloomberg) -- The government may have to compensate property owners whose land is temporarily flooded when officials release water from an upstream dam, the U.S. Supreme Court ruled.

Wearing his gray morning coat and striped trousers, Justice Department lawyer Malcolm Stewart was the very picture of Supreme Court propriety Monday as he sought to placate the frustrated Chief Justice John Roberts. The bounds of lawyerly good sense, however, meant Stewart could not utter these four apt words: “I told you so.”

FedEx will be offering some employees up to two years pay to leave the company next year.

Federal antitrust regulators have cleared Disney's $4 billion deal to buy Lucasfilm, the filmmaking empire behind the “Star Wars” franchise.

Dec. 4 (Bloomberg) -- A strike hobbling the nation’s largest port complex, affecting an estimated $1 billion of cargo a day, has halted paychecks for thousands of Southern California logistics workers before the holidays.

Toyota Motor Manufacturing Mississippi and four community colleges are launching a partnership to train people for advanced manufacturing jobs.

Dec. 4 (Bloomberg) -- Verizon Wireless must offer smaller competitors access to its nationwide networks for mobile Internet use, a federal court ruled, turning aside the company’s challenge to a U.S. regulation requiring sharing agreements.

A federal appeals court has rejected a Verizon challenge to a Federal Communications Commission rule aimed at increasing competition in wireless broadband service.

AutoZone said Tuesday its profit climbed nearly 7 percent in its fiscal first quarter, helped by an improved profit margin and higher sales. But the auto parts retailer's revenue missed analysts' estimates and its stock dropped in premarket trading.

Dec. 4 (Bloomberg) -- Alcatel-Lucent SA is closer to obtaining financing of 1 billion euros ($1.3 billion) or more from a group of banks led by Goldman Sachs Group Inc. and Credit Suisse Group AG amid a wide-ranging overhaul that will probably require deeper job cuts and major asset sales, people familiar with the talks said.

Dec. 4 (Bloomberg) -- Verizon Communications Inc., the second-largest U.S. phone company, said it continues to ride the momentum from its third-quarter performance even after superstorm Sandy disrupted its operations.

Tweaking the way the government measures inflation sounds like an obscure method to help reduce budget deficits, but over time it would lead to significantly lower Social Security benefits while increasing taxes, mainly on low- and middle-income families.

Unmanned aircraft manufacturer AeroVironment Inc. said Tuesday its third-quarter net income jumped 32 percent, buoyed by stronger sales at its efficient-energy-systems segment and an increased gross margin.

Yahoo has bought another Silicon Valley mobile startup as CEO Marissa Mayer tries to create more compelling products for smartphones and tablet computers.

New York Gov. Andrew Cuomo emerged Monday from meetings with top Obama administration officials and congressional leaders “optimistic” that Congress will act quickly to provides tens of billions of dollars to help his state recover from Superstorm Sandy, one of the Northeast's most destructive storms.

Coach on Tuesday said that it was moving the payment of its quarterly dividend to December from January, a step many companies are taking ahead of potential tax increases in 2013.

Drug and medical device maker Baxter International says it will buy the privately held Swedish company Gambro in a deal valued at about $2.76 billion to broaden its dialysis product portfolio.

Dec. 4 (Bloomberg) -- U.S. stock futures rose, following yesterday’s decline in the Standard & Poor’s 500 Index, as European finance ministers met to discuss moves to stem the debt crisis and U.S. leaders prepared for more budget talks.

Maine's finance commissioner on Monday recommended that Gov. Paul LePage issue a curtailment order as soon as possible to cut spending by more $35 million because of weaker-than-expected revenue in the current fiscal year. The governor said he was reviewing his options.

The head of Canada's central bank is leaving Canada's key interest rate unchanged at 1 percent in one of his final announcements before leaving to become the governor of the Bank of England.

Leaders of Japan's major political parties kicked off campaigning Tuesday for this month's parliamentary elections in nuclear crisis-hit Fukushima prefecture, where more than 100,000 people remain displaced from their homes.

U.S. banks earned more from July through September than in any other quarter over the past six years. The increase is further evidence that the industry is strengthening four years after the 2008 financial crisis.

Worries over the looming “fiscal cliff” and the health of the U.S. economy are driving oil prices lower Tuesday.

Markets recovered their poise Tuesday despite uncertainty over the progress of U.S. budget talks that could have a bearing on the outlook of the world's largest economy.

A businessman who held contracts at Detroit's convention center said Monday he was a “hostage” who felt compelled to pay thousands of dollars to then-Mayor Kwame Kilpatrick and his father or lose work.

Facing Superstorm Sandy's daunting toll of wreckage and displacement in the nation's largest city, officials have put much of their hopes and hundreds of millions of dollars into jump-starting repairs to make homes livable.

Dec. 4 (Bloomberg) -- Few people represent the extremes of Ireland’s recent history more than Thomas McFeely.

A federal judge Monday threw out a lawsuit filed by five states that want barriers placed in Chicago-area waterways to prevent Asian carp from invading the Great Lakes, but said he would consider new arguments if the case were filed again.

Dec. 3 (Bloomberg) -- Olam International Ltd., whose shares have fallen 9.5 percent since short seller Carson Block said it might fail, sued him for defamation two days later. He responded with a 133-page report that called the commodity trader an emperor with no clothes.

China's leaders have pledged to reduce pomp, ceremony and bureaucratic visits and meetings.

Germany and France are divided over of the powers a new European banking supervisor should have to better deal with financial crises, leading European Union finance ministers to end a meeting Tuesday without agreement on the matter.

German Chancellor Angela Merkel has been re-elected as her party's leader with a landslide majority of 98 percent of the vote.

The leader of the anti-bailout party that is leading opinion polls in Greece has called for a delay in the repayment of the country's rescue loans until the recession, which is headed for its sixth year, is over.

Britain's prime minister has warned newspaper editors they must act quickly to set up an independent press regulator in the wake of a media ethics scandal.

“We're not in a neighborhood where we're allowed to have animals,” Margot Corona said. “We didn't want some complicated landscaping. So we bought hundreds of vines -- some 650 plants. With an acre of land under cultivation, it turned out to be much more than a hobby.”

Now, he can easily search the sky for exoplanets _ planets outside the solar system -- anytime he wants to. And share his hobby with guests.

In parts of Somalia's capital, rubble-strewn lots that once served as sniper positions have been rebuilt into well-maintained homes, hotels and shopping plazas. Housing prices have doubled, or even gone up ten-fold.

The deadly collapse last weekend of hundreds of concrete ceiling slabs in a tunnel outside Tokyo is raising calls for more spending on Japan's aging infrastructure, but the country might simply not have the money.

The military has failed to correct the wrongful discharges of thousands of Vietnam veterans suffering from post-traumatic stress disorder, an advocacy group says in a federal lawsuit.

President Barack Obama's uncle in Massachusetts is getting a new deportation hearing.

After rolling around the Martian plains for more than eight years, the Opportunity rover finally found a spot believed to be rich in clay minerals, scientists said Tuesday.

Tue, Dec 4, 2012