News Archive
National | Wed, Dec 26, 2012

Starbucks Corp. workers in Washington will write “Come Together” on cups this week to encourage U.S. politicians to reach a compromise to reduce the national debt.

Goldman Sachs put General Motors on its recommended stock list Wednesday, pointing to a strengthening business and the Treasury Department's agreement to sell the rest of its stake in the company.

Home prices climbed in October, indicating a rebounding real estate market will bolster the U.S. economy for the first time in seven years.

Toyota Motor Corp. said Wednesday it has reached a settlement worth more than $1 billion in a case involving unintended acceleration problems in its vehicles.

Dane Stangler has never owned a small business, and doesn't expect to ever own one. But he's in a position to understand the challenges facing people who own small companies.

Dec. 26 (Bloomberg) -- The company that controls the Empire State Building can go ahead with a vote to allow the iconic New York skyscraper to be included in a proposed real estate investment trust.

Federal regulators are asking for more information as they try to determine if the damaged San Onofre nuclear power plant should be restarted.

Dubai, gearing up for a new development boom, will need to prove to lenders and investors that this one won’t end like the last.

Oil advanced to a two-month high in New York as the dollar slipped against the euro and President Barack Obama planned to leave for Washington to resume talks to avert spending cuts and tax gains that threaten the economy.

Warren Buffett's company has sold two short-line railroads it recently discovered it owned to satisfy regulators who might have reviewed Berkshire Hathaway's 2010 acquisition of the Burlington Northern Santa Fe railroad.

Wind power generated in Maine is now producing nearly 500 megawatts, enough to supply the average needs of 175,000 households. However, it's still well short of the state's goal for wind generation by 2015.

Dec. 26 (Bloomberg) -- Treasurys rose, pushing 10-year yields toward the lowest average annual yield on record, as U.S. leaders prepared to resume talks on a budget stalemate that may push the world’s biggest economy into recession.

Starbucks is using its coffee cups to jump into the political fray in Washington.

U.S. holiday sales so far this year have been the weakest since 2008, when the nation was in a deep recession. That puts pressure on stores that now hope for a post-Christmas burst of spending.

Regulators in Japan have approved sales of an anticlotting drug called Eliquis, developed by Bristol-Myers Squibb Co. and Pfizer Inc., that's a potential blockbuster in a new category of medicines to prevent strokes and heart attacks. But that's only if it can win U.S. approval, as two rival drugs have done.

For years, Republicans have adhered fiercely to their bedrock conservative principles, resisting Democratic calls for tax hikes, comprehensive immigration reform and gun control. Now, seven weeks after an electoral drubbing, some party leaders and rank-and-file alike are signaling a willingness to bend on all three issues.

Dec. 26 (Bloomberg) -- The yen weakened past 85 per dollar for the first time since September 2010 as Japan’s Prime Minister Shinzo Abe said he would push for “bold monetary easing.”

unless the White House and Republicans cut a budget deal by New Year's Day.

US home prices rose in most major cities in October compared with a year ago, pushed up by rising sales and a decline in the supply of available homes. Higher prices show the housing market is improving even as it moves into the more dormant fall and winter sales period.

Efforts to save the nation from going over a year-end “fiscal cliff” were in disarray as lawmakers fled the Capitol for their Christmas break. “God only knows” how a deal can be reached now, House Speaker John Boehner declared.

Dec. 26 (Bloomberg) -- Oil rose in New York for the first time in three days as President Barack Obama will cut short his vacation for talks to avert spending cuts and tax increases that threaten the economy of the world’s biggest crude consumer.

Stock futures are moving higher before the latest data is released on the housing market, one of the bright spots of the year with just a few trading days left.

With a yearend deadline looming before the economy goes over the so-called fiscal cliff, President Barack Obama is cutting short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening.

China on Wednesday opened the world's longest high-speed rail line that more than halves the time required to travel from the country's capital in the north to Guangzhou, an economic hub in southern China.

Images of New Jersey's devastated shoreline captivated the nation in the days after Superstorm Sandy.

Dec. 26 (Bloomberg) -- Research In Motion Ltd., the beleaguered maker of the BlackBerry smartphone, rose as much as 7.9 percent today, rebounding from a post-earnings crash that erased a quarter of the company’s market value.

Shares of Medifast plunged 13 percent Wednesday after the weight-loss company announced the resignation of its acting chief financial officer, the second person to resign as CFO in less than two months.

Dec. 26 (Bloomberg) -- The United Arab Emirates, in coordination with Saudi Arabian officials, said it arrested members of a terror cell that was planning to carry out attacks in the two oil exporting nations and the broader region.

Acadia Healthcare raised $173 million after expenses through a stock sale this month.

Dec. 26 (Bloomberg) -- The deal that seems possible to fix the U.S. budget is getting smaller and smaller.

When it comes to the nation's budget challenges, congressional leaders are fond of saying dismissively they don't want to kick the can down the road.

Dec. 26 (Bloomberg) -- U.S. holiday sales growth slowed by more than half this year after gridlock in Washington soured consumers’ moods and Hurricane Sandy disrupted shopping, MasterCard Advisors SpendingPulse said.

Dec. 26 (Bloomberg) -- A U.S. jury ordered Marvell Technology Group Ltd. to pay $1.17 billion in damages that may be tripled for infringing patents on integrated-circuit technology held by Carnegie Mellon University.

The dollar jumped to a two-year high against the yen Wednesday as a new government prepares to assume leadership in Japan.

Dec. 26 (Bloomberg) -- W.W. Grainger Inc., a hardware supply distributor, agreed to pay $70 million to resolve U.S. allegations it submitted false claims under contracts with the General Services Administration and the U.S. Postal Service.

The U.S. Treasury Department will begin taking steps on Friday to delay hitting the government's $16.4 trillion borrowing limit on Dec. 31.

Dec. 26 (Bloomberg) -- Toyota Motor Corp. said it will take a $1.1 billion write-down to settle claims that its vehicles lost value because of the carmaker’s recalls for unintended acceleration-related issues.

An enormous storm system that dumped snow and sleet on the nation's midsection and unleashed damaging tornadoes around the Deep South began punching its way toward the Northeast on Wednesday, slowing holiday travel.

Dec. 26 (Bloomberg) -- Three members of an independent advisory panel say they received as much as a day’s notice in May 2010 before U.S. regulators rejected a drug from InterMune Inc., now tied to an insider trading probe of SAC Capital Advisors LP.

Dec. 26 (Bloomberg) -- Gold may advance in New York on demand for the metal in China and India and as low interest rates into next year boost the metal’s appeal as a store of wealth. Silver gained.

Dec. 26 (Bloomberg) -- The Japanese yen weakened to the lowest since April 2011 amid expectations Japan’s new government will act to bolster the economy. U.S. stock futures rose as lawmakers in Washington prepared to resume budget talks.

Dec. 26 (Bloomberg) -- A gauge of U.S. corporate credit risk was little changed as the budget talks wavered in Washington.

Acadia Pharmaceuticals raised $173 million after expenses through a stock sale this month.

WASHINGTON (AP) _ Visitors coming to the nation's capital for President Barack Obama's second inauguration can't stay in the one place President Ronald Reagan's family once called an eight-star hotel. That spot is the White House, and it's booked for the next four years. Still, inauguration-goers have a range of lodging options -- from crashing on a friend's couch to rooms that cost thousands of dollars a night.

Dec. 26 (Bloomberg) -- Toyota Motor Corp., poised to regain its title as the world’s biggest carmaker this year, said its vehicle sales may rise 2 percent next year to a record, led by demand from overseas markets.

Dec. 26 (Bloomberg) -- U.S. holiday sales growth slowed by more than half this year after gridlock in Washington soured consumers’ moods and Hurricane Sandy disrupted shopping, MasterCard Advisors SpendingPulse said.

Old-guard veteran Shinzo Abe was voted back into office as prime minister Wednesday and immediately named a new Cabinet, ending three years of liberal administrations and restoring power to his conservative, pro-big-business party that has run Japan for most of the post-World War II era.

The ex-con turned sniper who killed two firefighters wanted to make sure his goodbye note was legible, typing out his desire to “do what I like doing best, killing people” before setting the house where he lived with his sister ablaze, police said.

Dec. 26 (Bloomberg) -- Syrian Deputy Foreign Minister Faysal Mikdad will meet in Moscow tomorrow with Russian Foreign Minister Sergei Lavrov to discuss a resolution of the 21-month conflict in the Middle Eastern country.

The general who heads Syria's military police has defected and joined the uprising against President Bashar Assad's regime, one of the highest walkouts by a serving security chief during the country's 21-month uprising, a pan Arab TV station has reported.

Russia's Foreign Ministry says the international envoy on Syria will visit Moscow this weekend.

Stocks are opening modestly higher on Wall Street as traders return from the Christmas holiday.

The only exceptions are plants propagated by edible tubers -- white potatoes, for example. Growers of white potatoes evidently were vocal enough back when the Act was being drafted to press for the right to save and replant their own potato tubers.

The publication of the names and addresses of handgun permit holders in two New York counties has sparked outrage that is spreading across the Internet.

Officials in Newtown, Conn., are asking people to stop sending gifts to the grief-stricken community following the deadly school shooting, saying they're deeply grateful but can't handle the donation deluge.

The price of oil rose sharply Wednesday on higher U.S. home prices and hopes of a budget deal in Washington.

For the stock market, this week hasn't been the most wonderful time of the year.


Wed, Dec 26, 2012
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