News Archive
National | Mon, Dec 17, 2012

Dec. 17 (Bloomberg) -- Elliott Management Corp., which owns 8 percent of Compuware Corp, offered to acquire the Detroit-based software company for $2.3 billion.

USG Corp. and seven other makers of drywall used in residential and commercial construction were sued for allegedly conspiring to fix prices for the gypsum board product since September 2011. Inc. officials can’t proceed with the $1.6 billion sale of the family-history website to Permira Advisers LLP until it discloses more information about the deal before a Dec. 27 shareholder vote, a judge ruled.

Research In Motion Ltd. said the BlackBerry 10, the new smartphone lineup intended to revive its fortunes, is about to begin testing at more than 120 U.S. companies, including 64 members of the Fortune 500.

For the first time, the Census Bureau is giving U.S. households a chance to respond to government surveys over the Internet, part of a bid to save costs and boost sagging response rates in a digital age.

Hasbro says it will soon reveal a gender-neutral Easy-Bake Oven after meeting with a New Jersey girl who started a campaign calling on the toy maker to make one that appeals to all kids.

Google Inc. is poised to make voluntary concessions that will end a 20-month U.S. antitrust probe of its business practices without any enforcement action, two people familiar with the matter said.

Hewlett-Packard Co.'s stock backtracked Monday after an analyst tried to debunk speculation that the troubled technology company will be pressured into spinning off its personal computer and printer division.

A federal judge sentenced a hacker to 10 years in prison on Monday after he broke into the personal online accounts of Scarlett Johansson, Christina Aguilera and other women and posted revealing photos and other material on the Internet.

Apple said Monday that it sold more than 2 million iPhone 5s in China in their first three days of availability, setting a record for that market.

Manufacturing in the New York region shrank for a fifth straight month in December, while an increase in optimism about the next six months signals factories are poised to rebound should the federal government resolve its impasse over fiscal policy.

Sprint, the country's third-largest cellphone company, said Monday that it will buy out the portion of wireless network operator Clearwire that it doesn't already own after raising its offer price to $2.2 billion.

Booming rooftop solar installations in California are bringing an unwelcome surprise to the homes and businesses that don´t have the devices: an extra $1.3 billion added to their annual bills.

Australian property companies sold the most bonds in at least 14 years in 2012, exploiting record low yields to cut borrowing costs and extend maturities.

The biggest real estate investment trust to go public in Mexico is staking its success on the city most ravaged by the nation’s drug war.

Stocks rose on Wall Street as investors were encouraged by signs of progress in budget talks in Washington. Just two weeks remain before tax increases and government spending cuts take effect if no deal is reached.

Dec. 17 (Bloomberg) -- Sun Life Financial Inc., the best- performing financial stock in Canada this year, agreed to sell a U.S. annuity business to a firm owned by Guggenheim Partners LLC shareholders in a $1.35 billion deal to cut risks in equity markets and interest rates.

Dec. 17 (Bloomberg) -- Oil rose for a second day in New York on optimism that a U.S. budget agreement will be reached, narrowing the discount to Brent crude to less than $20 for the first time in eight weeks.

Dec. 17 (Bloomberg) -- Clearwire Corp.’s board agreed to a sweetened, $2.97-a-share takeover bid from its wireless partner Sprint Nextel Corp., which is now offering $2.2 billion to acquire the portion of the company it doesn’t already own.

The price of oil is rising Monday as political leaders in Washington appear closer to a resolution in critical budget negotiations.

Japanese shares outperformed other markets on Monday amid hopes that the new government will enact fresh stimulus measures to boost the world's third-largest economy.

is moving closer to Supreme Court review.

Dec. 17 (Bloomberg) -- Manufacturing in the New York region shrank more than forecast in December, showing weakness in the industry is persisting as the year draws to a close.

Dec. 17 (Bloomberg) -- U.S. stock-index futures maintained gains even as a Federal Reserve report showed New York-area manufacturing shrank more than forecast in December.

Dec. 17 (Bloomberg) -- Brent crude fell for a second time in three days amid concern that deadlock in U.S. budget talks may threaten to curb economic growth and fuel demand.

Greece is failing to collect the tax it is owed and is in danger of missing key targets that need to be met to reduce the government's staggering debt pile, the European Union warned on Monday.

Dec. 17 (Bloomberg) -- For the Standing Rock Sioux Tribe, whose lands straddle the North and South Dakota border, river water means drinking supplies. For Illinois farmers, it’s irrigation for their crops.

Dec. 17 (Bloomberg) -- Most of us still look at China, the world’s second-largest economy, as the undisputed leader among major developing countries. In the long run, however, I’m betting on India to emerge as the more significant global economy.

Dec. 14 (Bloomberg) -- It has been more than five years since a group of mutual funds run by Morgan Keegan & Co. crashed in an accounting debacle, costing investors about $1.5 billion. Now the scandal has reached the boardroom at one of the U.S. accounting profession’s highest bodies.

Dec. 17 (Bloomberg) -- Research In Motion Ltd. said the BlackBerry 10, the new smartphone lineup intended to revive its fortunes, is about to begin testing at more than 120 U.S. companies, including 64 members of the Fortune 500.

The dollar jumped to a 20-month high against the yen Monday after Japan elected a new prime minister over the weekend.

A Delaware judge on Monday declined to delay a Dec. 27 stockholder vote on the $1.6 billion acquisition of genealogy website by a group led by European private equity firm Permira Advisers. But he ordered that shareholders be given more information before they vote.

Dec. 17 (Bloomberg) -- American International Group Inc., the insurer that repaid a U.S. bailout, is benefiting on the stock market as the company becomes easier to understand with moves like its exit from AIA Group Ltd.

Dec. 17 (Bloomberg) -- Allstate Corp., the largest publicly traded U.S. home and auto insurer, authorized the repurchase of $1 billion in shares after profit rose four straight quarters.

Dec. 17 (Bloomberg) -- Lockheed Martin Corp. is expected to receive a military satellite contract from the U.S. Air Force by Dec. 31 that may be valued at almost $2.6 billion, according to the service and the company.

BroadSoft Inc. has tabbed longtime director John Markley Jr. to be its chairman beginning next year.

Massachusetts officials say they are fining investment bank Morgan Stanley $5 million for disclosing a revenue shortfall with analysts and institutional investors but not the general public ahead of Facebook's troubled IPO in May.

Wall Street analysts trimmed their expectations for Apple Inc. on Monday as the stock, worth just over $700 three months ago, dipped close to $500.

Dec. 17 (Bloomberg) -- Morgan Stanley, the lead bank on Facebook Inc.’s initial public offering, was fined $5 million by Massachusetts over claims the firm gave research analysts information that wasn’t provided to all investors in the sale.

Dec. 17 (Bloomberg) -- Treasuries fell, pushing 10-year yields toward a five-week high, before reports economists said will show a manufacturing gauge was at the highest since July and new-home construction held near the most in four years.

The government agency overseeing credit unions is suing J.P. Morgan Securities, the investment arm of JPMorgan Chase, over the sale of $3.6 billion in mortgage bonds that collapsed in value after the 2008 financial crisis. It's the National Credit Union Association's largest lawsuit yet.

Dec. 17 (Bloomberg) -- Mitsubishi Heavy Industries Ltd. failed to meet certain requirements with equipment it is using to test repairs for Edison International’s shuttered San Onofre nuclear power plant, the U.S. Nuclear Regulatory Commission said in a report posted on its website.

Dec. 18 (Bloomberg) -- Nissan Motor Co.’s Infiniti, lagging larger German and Japanese luxury brands, is rechristening its car and truck models with names starting with Q and QX as the company seeks a bigger share of the growing market for premium autos.

Dec. 17 (Bloomberg) -- Sun Life Financial Inc., Canada’s third-largest insurer, agreed to sell its U.S. annuity business and other assets for $1.35 billion to a company owned by shareholders of Guggenheim Partners LLC.

and a bushel of other vegetables.

Dec. 17 (Bloomberg) -- The yen fell to the weakest level since April 2011 versus the dollar after Shinzo Abe’s Liberal Democratic Party won Japanese elections yesterday, giving him a mandate to act on pledges of expanded monetary stimulus.

Dec. 17 (Bloomberg) -- Progress in the fight against malaria may be at risk after funding to combat the world’s third-deadliest infectious disease stagnated between 2010 and 2012, the World Health Organization said.

Dec. 17 (Bloomberg) -- UBS AG is set to pay as much as $1.6 billion to settle claims of Libor manipulation by the U.S. Justice Department, the Commodity Futures Trading Commission, the U.K. Financial Services Authority and the Swiss Financial Market Supervisory Authority, said a person familiar with the probes.

Calumet Specialty Products Partners LP is buying NuStar's San Antonio, Texas refinery assets for about $115 million.

Stock futures are mixed on the first of a string of reports involving the housing sector.

The head of the European Central Bank says EU leaders must move forward and set up an authority to clean up failed banks in a way that doesn't leave taxpayers stuck with the bill.

A White House official says President Barack Obama and House Speaker John Boehner (BAY'-nur) are meeting at the White House to discuss the pending fiscal cliff and deficit reduction.

The Cypriot finance ministry's top civil servant has warned that government workers may go unpaid this month because state coffers are depleted.

more than $114 million for New York University Langone Medical Center and $40 million to help remove debris on Long Island.

Foreign ownership of U.S. Treasury securities rose to a record level in October, a sign that overseas investors remain confident in U.S. debt despite a potential budget crisis.

Rent-A-Center is boosting its quarterly dividend by 31 percent to 21 cents per share from 16 cents per share.

Dec. 17 (Bloomberg) -- California Highway Patrol division chief Jeff Talbott retired last year as the best-paid officer in the 12 most-populous U.S. states, collecting $483,581 in salary, pension and other compensation.

The president and chief operating officer of Staples is leaving the retail office supplier to join the investment firm Berkshire Partners.

The election victory of Japan's main conservative party, led by a prospective prime minister known for his hardline China views, drew a muted response Monday from Beijing but withering criticism from Chinese bloggers.

North Korea unveiled the embalmed body of Kim Jong Il, still in his trademark khaki jumpsuit, on the anniversary of his death Monday as mourning mixed with pride over a recent satellite launch that was a long-held goal of the late authoritarian leader.

A Soyuz spacecraft atop a towering rocket was placed into launch position Monday at Russia's manned-space facility in the freezing steppes of Kazakhstan ahead of a five-month mission for three astronauts to the International Space Station.

A Milan court fined a Moroccan woman at the center of Silvio Berlusconi's sex-for-hire scandal (euro) 500 ($650) on Monday for failing to appear as a witness twice at the former premier's trial. It ordered her to testify in January.

and where, given the carnage in the building and the children's associations with it.

NATO officials say no ships have been hijacked off the Somali coast in the second half of this year, reflecting a sharp decrease in piracy along one of the world's busiest shipping routes.

Tradition trumped suspense Monday as members of the Electoral College cast the official, final votes in the 2012 presidential election, a constitutional formality on President Barack Obama's march to a second term.

Dec. 17 (Bloomberg) -- The U.S. Environmental Protection Agency’s watchdog will examine the use of alias e-mail addresses by agency officials, including by administrator Lisa Jackson.

Mon, Dec 17, 2012