News Archive
National | Wed, Dec 5, 2012

Stock prices were mixed Wednesday as technology stocks were weighed down by weakness in Apple shares.

An appeals court on Wednesday denied the federal government's request to reconsider a decision blocking a requirement that tobacco companies put large graphic health warnings on cigarette packages to show that smoking can disfigure and even kill people.

The owner of Olive Garden and Red Lobster says it won't bump any full-time workers down to part-time status, after its tests aimed at limiting health care costs resulted in a publicity backlash that took a bite out of sales.

Orders to U.S. factories rose modestly in October, helped by a big gain in demand for equipment that reflects business investment plans.

A revival in the U.S. housing market is amplifying the impact of the Federal Reserve’s efforts to spur the world’s largest economy.

Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning to add at least 1,500 cafes in the U.S. over the next five years.

Mortgage applications in the U.S. climbed last week as a decline in borrowing costs prompted more Americans to refinance their homes.

Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments by President Barack Obama made investors optimistic that a quick deal could be made to avoid the “fiscal cliff.”

NASA astronaut Scott Kelly is already bracing for an unprecedented one-year mission aboard the International Space Station. He figures it will be as grueling as climbing Mount Everest.

Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi's workforce of 262,000.

Ireland's government unveiled plans for (euro) 3.5 billion ($4.5 billion) in new taxes and spending cuts in the debt-burdened country's sixth straight austerity budget.

Chinese stocks led the way Wednesday as investors grew more confident that policymakers in the world's second-largest economy would back another batch of stimulus measures.

Dec. 5 (Bloomberg) -- U.S. stock futures advanced, indicating the Standard & Poor’s 500 Index will gain for the first time this week, as China eased restrictions on investing in banks and its new leaders backed urban development.

Dec. 5 (Bloomberg) -- The productivity of U.S. workers expanded more than previously estimated in the third quarter as companies cut labor expenses to preserve profits.

Dec. 5 (Bloomberg) -- Oil in New York was little changed on speculation that U.S. fuel inventories may rise and as China signaled it’s ready to boost stimulus if economic growth falters in the world’s second-biggest crude-consuming nation.

A private survey shows that U.S. businesses added fewer workers in November, mostly because Superstorm Sandy shut down factories, retail stores, and other companies.

U.S. workers were more productive this summer than initially thought, while costing their companies less.

Dec. 5 (Bloomberg) -- Treasury 10-year yields were little changed after report by ADP Research Institute showed U.S. companies expanded payrolls less than projected last month.

Dec. 5 (Bloomberg) -- Taylor Morrison Home Corp., a builder of houses in the U.S. and Canada, is seeking to raise $250 million in a U.S. initial public offering, according to a regulatory filing.

Dec. 5 (Bloomberg) -- Miami, the Latin-American base for companies such as Harley-Davidson Inc., is set to lower its borrowing costs after posting a budget surplus five times greater than expected amid a real-estate revival.

Dec. 6 (Bloomberg) -- Chinese developers are starting to venture overseas, chasing wealthy locals who are buying apartments from New York to Sydney as the government restrains the property market at home.

For me, climate change is a serious issue. No, I'm not referring to the debate over global warming. My concerns are much simpler. I'm constantly checking the weather for the hours and days ahead because deciding to hike on a rainy day or neglecting to dress warmly can put a damper on a vacation.

NASA is adrift without a coherent vision for where it should be going, an independent panel of space, science and engineering experts said in a stinging report issued Wednesday.

Dec. 5 (Bloomberg) -- Apple Inc. shares fell the most in more than a year amid concerns that Nokia Oyj will get a leg up in China and that the iPad may lose market share.

Games can be both a welcome and an annoying diversion on Facebook, the world's most popular online social network. This year, Facebook crossed a big milestone -- reaching 1 billion active users. Game companies such as “FarmVille” creator Zynga Inc. and Rovio Entertainment Ltd. of “Angry Birds” fame seek to tap into that vast base of users to gain more players for their games.

Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to mines in Indonesia.

The modern, top-notch interior design of the XTS _ complete with front seats that can have some of the biggest thigh support extenders in the business -- is the best to come from Cadillac in years.

Dec. 5 (Bloomberg) -- Dish Network Corp.’s Blockbuster will begin selling mobile phones in its movie-rental stores as a test for Dish’s planned entry into the wireless business, according to two people familiar with the matter.

First there was the $7 cup of coffee. Now Starbucks is offering a $450 gift card made of stainless steel.

Dec. 5 (Bloomberg) -- Netflix Inc.’s deal with Walt Disney Co. to stream new releases, including those from Pixar and Marvel, signals online viewing has become mainstream and poses a major threat to traditional pay TV.

Dec. 5 (Bloomberg) -- Pandora Media Inc., the Internet radio company, tumbled the most in more than a month after saying advertiser caution about spending will lead to a wider full-year loss than the company had forecast.

Dec. 5 (Bloomberg) -- The start of trading in Whitehorse Finance Inc.’s initial public offering was delayed today after Nasdaq OMX Group Inc. mistakenly halted the collection of orders prior to the open, a person familiar with the situation said.

It may be just a bluff or a bargaining ploy, but the White House is signaling that President Barack Obama is willing to let the country go over the “fiscal cliff,” a hard-line negotiating strategy aimed at winning concessions from Republicans on taxes.

The public debut of WhiteHorse Finance stock is being postponed by the Nasdaq, according to a statement on the exchange's website.

ValueClick Inc. said Wednesday that its president and CEO is stepping down and will be replaced by the digital marketing company's current chief operating officer.

With Nevada's unemployment at its lowest level in more than three years, Gov. Brian Sandoval said at an annual tourism conference Tuesday that he is confident the state's economic rebound is gaining steam, but believes challenges remain.

Shares of Freeport-McMoRan Copper & Gold tumbled more than 14 percent after the mining company said it was expanding into the energy sector through the $9 billion acquisition of a pair of oil and gas producers.

Chrysler is setting up a $38.2 million charitable foundation to honor its CEO, who refuses to take a salary from the company.

Dec. 5 (Bloomberg) -- Facebook Inc. photo-sharing service Instagram is making it harder for users to display pictures on microblogging site Twitter Inc. amid increased rivalry between the social-networking websites.

Dec. 5 (Bloomberg) -- Citigroup Inc.’s private bank is advising clients not to add money to Steven A. Cohen’s hedge fund SAC Capital Advisors LP, according to two people with knowledge of the matter.

Worries that a possible pullback by advertisers will hurt Pandora's fourth quarter weighed on the Internet radio company's shares Wednesday.

Rich countries are to blame for climate change and should take the lead in forging a global climate pact by 2015, a deadline that “must be met,” the head of the United Nations said Wednesday.

Amazon is launching a subscription service for children's games, videos and books aimed at getting more kids to use its Kindle Fire tablet devices.

The official at the Securities and Exchange Commission who heads the division responsible for oversight of the securities markets and exchanges is leaving the agency.

Athenahealth Inc. said Wednesday that it expects its 2012 results will largely meet market expectations but 2013 earnings may fall short.

Dec. 5 (Bloomberg) -- Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, is paying $9 billion in cash and stock for two U.S. oil and natural gas companies that will expand it into a global natural resources giant.

Americans prefer letting tax cuts expire for the country's top earners, as President Barack Obama insists, while support has declined for cutting government services to curb budget deficits, an Associated Press-GfK poll shows. Fewer than half the Republicans polled favor continuing the Bush-era tax cuts for the wealthy.

The combination of U.S. employers that shut down because of Superstorm Sandy and fears over looming tax increases and spending cuts likely slowed hiring sharply in November.

Dec. 5 (Bloomberg) -- Qualcomm Inc., the largest seller of mobile-phone semiconductors, said a shortage of its advanced smartphone processors is almost resolved as manufacturing partners including Samsung Electronics Co. boosted production.

Dec. 5 (Bloomberg) -- Apple Inc. shares fell the most in almost four years on concern that the company will lose ground in smartphones to Nokia Oyj in China while giving up market share to Google Inc. in tablets.

Dec. 5 (Bloomberg) -- Compensation for the chief executive officer of Beazer Homes USA Inc., an Atlanta-based builder that lost $145.3 million in the last fiscal year, would rise 67 percent under a proposal by the company’s board.

he'll get the money to repair his Lower Manhattan restaurant.

“Call of Duty: Black Ops II” crossed the $1 billion mark in worldwide retail sales 15 days after its Nov. 13 release, Activision Blizzard Inc., the video game's publisher, said Wednesday.

Chipmaker Broadcom Corp. on Wednesday raised its guidance for the fourth quarter through December, saying that revenue is being helped by its mobile and wireless business at the same time as it is trimming costs.

Dec. 6 (Bloomberg) -- About 50 miles west of Washington, in a newly developed zone between the roadside farm stands and the shops that line the Victorian Main Street of tiny Warrenton, Virginia, sits a brick office building that’s emerged as a nexus of Republican secret money and power.

Dec. 5 (Bloomberg) -- George Roberts, the billionaire co- founder and co-chief executive officer of KKR & Co., gave $50 million to Claremont McKenna College.

while he has been leading the country's campaign against tax evaders.

Retail sales across the 17 European Union countries that use the euro slumped far more than anticipated in October, largely due to a huge drop in Germany, in a development that will put more pressure on the European Central Bank to cut borrowing rates soon.

South Carolina's inspector general recommends centralizing the cyber security functions of state agencies to help prevent another loss of personal data, according to a report released Tuesday.

Dec. 5 (Bloomberg) -- Big Lots Inc. said Chairman and Chief Executive Officer Steven Fishman will retire, amid a report that the U.S. Securities and Exchange Commission is investigating a $10 million sale of stock by the executive.

Dec. 5 (Bloomberg) -- Goldman Sachs Group Inc. lowered its three-month gold price forecast to $1,825 an ounce, and introduced a 2014 forecast of $1,750 an ounce.

Dec. 5 (Bloomberg) -- U.K. banks may not have to raise capital with lending set to recover and a new governor taking over the Bank of England next year, UBS AG analysts said.

Dec. 5 (Bloomberg) -- A gauge of U.S. corporate credit risk dropped the most in almost a week as China signaled further policy support and after an increase in U.S. employment was lower than projected.

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

Democratic lawmakers are proposing to spend about $500 million a year in newly approved tax revenue on energy efficiency projects at schools in California's poorest communities.

U.S. service companies grew at a slightly faster pace in November because sales and new orders rose, a good sign for the economy.

Dec. 5 (Bloomberg) -- Oil futures fell after the U.S. Energy Department said gasoline stockpiles climbed the most in more than a decade.

A Humane Society chapter in southeastern Kentucky says it is locked in a dispute with a coal company that wants to shoo a pack of wild horses off a former surface mining site.

Thanks to the election, socialism and capitalism are forever wed as Merriam-Webster's most looked-up words of 2012.

The Obama administration pressed its European allies on Wednesday to follow through on their pledges to Afghanistan's security after most international troops withdraw in 2014, fearful of being left with the check in an era of austerity budgets and defense cutbacks.

Secretary of State Hillary Rodham Clinton says Egypt's unrest shows the urgent need for dialogue between President Mohammed Morsi's government and opposing voices on a constitutional path going forward.

Officials from 48 countries meeting Wednesday in Brussels are expected to formally create what they are calling a global alliance to fight child sexual abuse online.

An Israeli military planning committee has unveiled plans for a contentious new West Bank settlement outside Jerusalem, pressing forward with the project in the face of heavy international pressure.

The British hospital treating the former Kate Middleton admitted Wednesday it was victimized by a crank call in which information on her condition was given out to a woman impersonating Queen Elizabeth II.

Days before a newly formed council focuses on long-term Gulf of Mexico cleanup, a report released to The Associated Press shows that one federal agency has committed more than a half-billion dollars to the region in the past two years, nearly one-fifth of it on projects directly linked to recovery from the 2010 oil spill.

They say no man is an island, but Michael Richard Smith has been creating his own floating homes in Boston Harbor.

Legal marijuana possession becomes a reality in Washington state Thursday, and some people plan to celebrate the new law by breaking it.

Wed, Dec 5, 2012