News Archive
National | Fri, Dec 21, 2012

Dec. 21 (Bloomberg) -- The National Rifle Association called for stationing police officers in schools as the proper response to the Dec. 14 school shooting in Connecticut and blamed “blood-soaked films” and video games for the violence.

Stocks sank, paring the weekly gain in the Standard & Poor’s 500 Index, after House Republican leaders canceled a vote on higher taxes for top earners and sent budget talks deeper into turmoil.

You've heard the predictions for what happens if the country goes over the “fiscal cliff”: The economy will shrink, nervous consumers will stop spending, and the stock market will plunge.

Video-game makers and retailers are facing growing pressure from Washington and advocacy groups concerned about possible links between violent games and tragedies like the school massacre in Newtown, Conn.

A dentist acted legally when he fired an assistant that he found attractive simply because he and his wife viewed the woman as a threat to their marriage, the all-male Iowa Supreme Court ruled Friday.

Investors sent Washington a reminder Friday that Wall Street is a power player in talks to avoid the “fiscal cliff.”

Nokia Corp. and Canadian smartphone rival Research In Motion have agreed on a new patent licensing pact which will end all existing litigation between the two struggling companies, the Finnish firm said Friday.

Pacific Investment Management Co. (Pimco) is ready to invest in adjustable-rate Danish mortgage bonds with maturities longer than one year as issuers in the $500 billion industry try to build up liquidity in the notes.

When the Justice Department announced its record $1.9 billion settlement against British bank HSBC earlier this month, prosecutors called it a powerful blow to a dysfunctional institution accused of laundering money for Iran, Libya and Mexico's murderous drug cartels.

The owners of CityCenter, an $8.5 billion Las Vegas Strip development that opened amid the city’s real estate crash, said they sold 427 condominiums in a bulk transaction for $119 million.

Dec. 21 (Bloomberg) -- Oil fell for the first time in six days on concern that U.S. lawmakers will fail to avert a fiscal crisis after House Republican leaders canceled a vote on higher taxes for top earners.

Former Wells Fargo & Co. investment banker John Femenia was charged in Charlotte, N.C., earlier this month with leading an $11 million insider trading ring that paid kickbacks in cash and gold for tips on corporate mergers.

Apple Inc.’s patents behind the pinch-to-zoom, bounce-back and multitouch features of its iPhone aren’t invalid, at least not yet.

Construction employment in the United States is poised to rebound as a swelling pipeline of projects prompts companies to expand.

A failed attempt find a compromise in U.S. budget negotiations sent global stock markets plummeting Friday, as investors feared the world's largest economy could teeter into recession if no deal is found.

An Italian appeals court on Friday overturned the convictions of three Google executives found criminally responsible for a video on a Google site that showed a disabled teen being bullied.

Dec. 21 (Bloomberg) -- Demand for goods such as machinery and electronics climbed more than forecast in November, showing U.S. companies are planning to expand next year as they look beyond the tax increases and spending cuts slated to take effect.

Dec. 21 (Bloomberg) -- Spending by U.S. consumers climbed in November as Americans pushed aside the threat of higher taxes next year, buying gifts for the holidays and making up for shopping lost to superstorm Sandy.

Dec. 21 (Bloomberg) -- Oil declined the most in more than two weeks because of concern that U.S. lawmakers may fail to avert spending cuts and tax increases that threaten the economy of the world’s biggest crude consumer.

Dec. 20 (Bloomberg) -- For years, fixing the software flaws that left Adobe Systems Inc.’s customers prey to hackers simply wasn’t a top company priority.

A cellphone game for kids about U.S. geography, “Stack the States,” gets rave reviews from parents. Its creator, Dan Russell-Pinson, considered making the 99-cent app better by adding a feature to allow children to play online against one another. But with the Federal Trade Commission issuing more stringent online child privacy rules, he's not even pursuing the idea.

House Speaker John Boehner signaled on Friday he's still open to negotiations with President Barack Obama on avoiding across-the-board tax increases set to hit taxpayers Jan. 1, but sounded pessimistic about reaching a grand deal with the president.

U.S. companies boosted their orders in November for long-lasting manufactured goods that reflect investment plans. It was the second straight such increase, an encouraging sign for the economy.

Dec. 20 (Bloomberg) -- Porsche sports cars are made to move fast, and former parent Porsche SE did the same to avoid opening a new front in a $5 billion legal battle that’s the legacy of a failed bid to take over Volkswagen AG.

Dec. 21 (Bloomberg) -- Walt Disney Co. won European Union approval to buy George Lucas’s Lucasfilm Ltd. for $4.05 billion in cash and stock, combining two of Hollywood’s most lucrative film franchises.

Consumers spent and earned more in November, reflecting a rebound from the disruptions caused by Superstorm Sandy.

Dec. 21 (Bloomberg) -- Walt Disney Co. won an appeals court ruling that protects its trademark rights to the Winnie-the-Pooh characters.

Twinkies, Wonder Bread and Devil Dogs are likely to return to shelves in coming months, but probably not under the same owners.

Dec. 21 (Bloomberg) -- Were this a movie script, the working title could be “The Short Versus the Herbalife Bulls.”

The company that makes Oreo cookies is sweetening the pay for its CEO with a special stock award valued at $10 million.

The three largest economies _ the United States, China and Japan -- struggled again in 2012. The 17 countries that use the euro endured a third painful year in their financial crisis and slid into recession. Emerging economies slowed.

The European Union's executive arm, the Commission, has informed Samsung of its preliminary view that the company's seeking of injunctions against Apple for allegedly infringing “standard-essential” patents in the EU amounts to an abuse of a dominant position.

Boeing is cutting about 100 jobs in Colorado after losing a major contract, but the aerospace company said many of the employees could be offered jobs with a competitor that won the contract.

Dec. 21 (Bloomberg) -- Nike Inc., the world’s largest sporting-goods company, reported second-quarter profit that topped analysts’ estimates as sales gained in North America and the company controlled its marketing costs.

Dec. 21 (Bloomberg) -- Red Hat Inc., the largest seller of Linux operating system software, rose in late trading after reporting third-quarter sales that exceeded analysts’ estimates and saying it plans to buy cloud software company ManageIQ Inc.

Dec. 23 (Bloomberg) -- Purchases of new houses probably rose to the highest level in more than two years and the value of existing properties increased, confirming the real-estate market is now a bright spot in the U.S. expansion, economists said before reports this week.

Dec. 21 (Bloomberg) -- Raytheon Co. has put almost 900 air- to-air missiles for U.S. and allied air forces in storage because they’re missing a major component -- motors.

Oil prices fell as much as $2 a barrel Friday as doubts grew about whether political leaders in Washington could reach a deal on the budget before a package of tax hikes and spending cuts automatically kicks in with the new year.

Industrial conglomerate General Electric plans to buy the aviation business of Italian manufacturer Avio for $4.3 billion to grow its jet propulsion business and strengthen its supply chain.

Dec. 21 (Bloomberg) -- European stocks fell from a 19-month high after American House Republicans canceled a vote on higher taxes for top earners, fueling concern budget talks will fail. U.S. index futures and Asian shares also declined.

Dec. 21 (Bloomberg) -- Emerging-market stocks fell the most in six weeks, led by technology shares, on concern the U.S. budget standoff threatens the outlook for exporters’ earnings.

Pinnacle Entertainment is buying Ameristar Casinos for about $869 million, plus taking on its $1.9 billion in debt.

Dec. 21 (Bloomberg) -- Copper rose in London after the biggest fall in two months yesterday as data showed a rebound in imports by China, the biggest metal user.

As President Barack Obama urges tighter federal gun laws, state legislators around the country have responded to the Connecticut school shooting with a flurry of their own ideas that are likely to produce fights over gun control in their upcoming sessions.

The Cyprus government vowed to do what is needed to finalize a bailout agreement with international lenders after ratings agency Standard & Poor's downgraded Cyprus further into junk status amid concerns that the country could default on its debts.

Dec. 21 (Bloomberg) -- A gauge of U.S. corporate credit risk rose after budget negotiations stalled in Washington as House Republican leaders scrapped a plan to avert the so-called fiscal cliff.

Well aware that the television audience may be particularly sensitive, the Showtime network aired a disclaimer warning audiences of violent content in the season finales of its dramas “Homeland” and “Dexter” last weekend. It was two days after a gunman killed 26 people in a Newtown, Conn., elementary school.

Dec. 20 (Bloomberg) -- IntercontinentalExchange Inc., the 12-year-old energy and commodity futures bourse, agreed to acquire NYSE Euronext for cash and stock worth $8.2 billion, moving to take control of the world’s biggest equities market.

Will Santa's sleigh be late?

Dec. 21 (Bloomberg) -- Lehman Brothers Holdings Inc., which aims to pay creditors $65 billion by 2016 or so, enters the New Year with statistics to match the biggest-ever bankruptcy it filed more than four years ago.

Occupy Los Angeles protesters say the city violated their constitutional rights when it evicted them from the City Hall park last year.

Dec. 21 (Bloomberg) -- MasterCard Inc, already facing at least 12 U.K. lawsuits after European Union regulators outlawed cross-border card fees, was sued by Deutsche Bahn AG and J Sainsbury Plc.

Travelers facing canceled flights and closed roads were hoping to finally head to their holiday destinations Friday as a widespread snowstorm that dumped more than a foot of snow in parts of the Midwest moved across the Great Lakes toward Canada.

When people here speak of the massacre at Sandy Hook Elementary School, they use the number 26: the ones killed after Adam Lanza stormed his way into the school.

A military spokesman says a search is under way for a soldier from the NATO-led coalition who has gone missing in southern Afghanistan.

Dec. 21 (Bloomberg) -- Lawsuits filed in federal district court to force the government to comply with Freedom of Information Act requests surged under President Barack Obama.

A Kentucky man lost his bid Friday to force a doctor to pay damages for removing a cancer-riddled section of his penis during what was scheduled to be a simple circumcision.

A Soyuz capsule packed with three astronauts has successfully docked with the International Space Station, taking the size of the full crew at the orbiting laboratory to six.

Five more people have been diagnosed with the same strain of hepatitis C a former traveling hospital worker is accused of spreading through tainted needles, bringing the total to 44 in four states.

Fri, Dec 21, 2012