News Archive
National | Tue, Dec 11, 2012

The U.S. trade deficit increased in October because exports fell by a larger margin than imports, a sign that slower global growth could weigh on the U.S. economy.

Texas Instruments Inc., the largest maker of analog chips, gave an updated fourth-quarter sales forecast that was in line with analysts’ estimates as customers seek to keep inventory low amid lackluster demand.

Yahoo! Inc. upgraded its e-mail service to woo mobile users, the first major product unveiling since Chief Executive Officer Marissa Mayer took over, pledging to improve tools and services to lure back customers.

Massachusetts retailers are hailing a deal reached between online seller and state officials to begin collecting the state's 6.25 percent sales tax from Bay State residents who order items through the website.

A federal judge ruled Tuesday that a trial is necessary to decide claims brought against Boeing by two unions over pension and retiree medical benefits arising from the company's 2005 sale of its commercial aircraft operations in Kansas and Oklahoma.

As chants of angry protesters filled the Capitol, Michigan lawmakers gave final approval Tuesday to right-to-work legislation, dealing a devastating and once-unthinkable defeat to organized labor in a state that has been a bastion of the movement for generations.

Hawaii, buffeted in the aftermath of the U.S. recession and Japan’s tsunami, is benefiting from a travel rebound that’s sent tourism revenue to a record and spurred real estate investments across the islands.

The military's small, top-secret version of the space shuttle rocketed into orbit Tuesday for a repeat mystery mission, two years after making the first flight of its kind.

In a test of divided government, President Barack Obama and House Speaker John Boehner sought an elusive compromise Tuesday to prevent economy-damaging year-end tax increases for the middle class, speaking by phone after a secretive exchange of proposals.

A Pennsylvania woman has accused Google Inc. of illegal wiretapping for “intercepting” emails she sent to Gmail accounts and publishing content-related ads.

A lawyer for Goldman Sachs Group Inc. said it wasn’t the firm’s job to do financial due diligence for its client, Dragon Systems Inc., in the company’s 2000 sale to a Belgian company that collapsed in an accounting scandal.

Job openings rose to a four-month high in October, showing companies kept expanding in the face of looming tax increases and budget cuts.

Stocks rose for a fifth straight day Tuesday as investors latched on to reports of progress in budget talks in Washington. The Standard & Poor's 500 index had its biggest gain this month.

Dec. 11 (Bloomberg) -- Oil rose for the first time in six days as German investor confidence jumped in December.

Every state should require all convicted drunken drivers, including first-time offenders, to use devices that prevent them from starting a car's engine if their breath tests positive for alcohol, the National Transportation Safety Board said Tuesday.

Ignition interlocks that keep intoxicated people from starting a car should be mandatory for first-time drunken-driving offenders, the U.S. National Transportation Safety Board said.

Stock markets rose on Tuesday as investors hoped U.S. leaders would eventually thrash out a budget deal needed to keep a slew of tax increases and spending cuts from hitting the world's largest economy.

"We cannot just be a party that protects the rich,” said Louisiana Gov. Bobby Jindal of his fellow Republicans. “The rich can protect themselves.”

Off in a small corner of the judicial system is a big-time Wall Street lawsuit that neither side in the dispute wants anyone to know much about.

There are real-world authors, and there are implied authors.

Dec. 11 (Bloomberg) -- FedEx Corp. has been “systematically overcharging” customers by billing businesses and government offices at higher residential rates, a company sales executive said in an internal e-mail unsealed in a lawsuit.

Dec. 11 (Bloomberg) -- Oil rebounded from the lowest close in almost a month in New York as German investor confidence jumped in December on speculation Europe’s largest economy will gather momentum next year.

Dec. 11 (Bloomberg) -- The trade deficit in the U.S. widened in October as the biggest slump in exports in almost four years outweighed a drop in imports, evidence of the slowdown in global growth.

Small business owners grew more pessimistic in November after the presidential election and Superstorm Sandy.

Dec. 11 (Bloomberg) -- American International Group Inc.’s rescue has come to an end with the U.S. raising $7.6 billion in its final offering of the insurer’s shares, four years after a bailout that fueled resentment against Wall Street.

British bank HSBC violated the Bank Secrecy Act in connection with the laundering of money from narcotics drug traffickers in Mexico and intentionally allowed prohibited transactions with Iran and other nations that have been under sanctions, the Justice Department alleged Tuesday.

Dec. 11 (Bloomberg) -- New York City taxi fleet operators sued the city over rules that make a Nissan Motor Co. vehicle the city’s official cab.

Dec. 10 (Bloomberg) -- Royal Philips Electronics NV, the world’s largest lighting company, faced allegations of defrauding an Italian television maker out of 200 million euros ($258 million) plus interest as a trial began today in Delaware Chancery Court.

Shares of HCA Holdings Inc. fell Tuesday after the largest U.S. hospital chain said that some of its largest shareholders plan to sell about 32 million shares of its common stock in an underwritten offering.

Dec. 11 (Bloomberg) -- Research In Motion Ltd. climbed to a seven-month high after the BlackBerry maker said a survey showed application developers’ willingness to endorse its new BlackBerry 10 platform has more than doubled since May.

Dec. 11 (Bloomberg) -- Billionaire investors Warren Buffett and George Soros are calling on Congress to increase the estate tax as lawmakers near a decision on tax policies that expire Dec. 31.

Dec. 11 (Bloomberg) -- Gold, copper, silver, platinum and palladium will outperform other commodities next year on easing by the U.S. Federal Reserve and supply constraints, according to Bank of America Corp.

Hertz's stock dropped more than 3 percent on Tuesday as the car rental company announced that its top three shareholders are selling about 12 percent of its outstanding stock.

Dollar General Corp. said Tuesday that its fiscal third-quarter net income rose 21 percent, helped by strong demand for candy and snacks, and boosted its guidance for the full year.

Dec. 11 (Bloomberg) -- Inc. surged to a record intraday high after Susquehanna Financial Group raised its price estimate for the shares, citing growth prospects as corporate customers do more computing tasks over the Internet.

Go Daddy, the world's largest registrar of Internet domain names, on Tuesday said Microsoft and Yahoo veteran Blake Irving will become its CEO on Jan. 7.

Newell Rubbermaid Inc. announced the expansion of its Shanghai office on Tuesday, helping the consumer products company's effort to expand in key international markets.

WellPoint Inc. is sticking with a 2012 earnings forecast that it had cut in July, and the nation's second-largest health insurer said it expects next year's earnings to be on par with this year's performance.

Dec. 11 (Bloomberg) -- Tribune Co., the bankrupt owner of the Chicago Tribune, Los Angeles Times and six other daily newspapers, is interviewing bankers about selling its papers, according to two people with knowledge of the matter.

Shares of Perry Ellis International Inc. soared Tuesday after the company said it will pay a special cash dividend of $1 per share in an apparent attempt to help investors avoid possible tax hikes on dividend income in 2013.

Dec. 11 (Bloomberg) -- A proposal to allow Dish Network Corp. to offer mobile-phone service has enough votes to win approval at the U.S. Federal Communications Commission, according to commission staff members.

Dec. 11 (Bloomberg) -- Lockheed Martin Corp. won’t ask the Pentagon to reimburse part of the $3.5 million it is paying the chief operating officer who left last month after it was disclosed he had an extramarital affair with a subordinate.

Washington state Attorney General Rob McKenna's office filed has filed a lawsuit targeting a Florida-based company accused of sending people unsolicited text messages, calling it another form of spam that annoys people and costs them money.

Microsoft says it's increasing production of its Surface tablets and will sell them in more stores. Staples says it will start carrying them starting Wednesday.

Chemicals giant DuPont Co. says it should reach the high end of its net income guidance in 2012 and its profit will grow in the low- to mid-single digits in 2013.

Molycorp Inc. said Tuesday that its CEO Mark Smith has left the company and it has named Constantine Karayannopoulos as interim president and CEO.

Yahoo is spiffing up and expanding its email service in an attempt to regain some of the ground lost to a Google alternative that lured away millions of users.

Dec. 11 (Bloomberg) -- Genworth Financial Inc., the insurer whose stock plunged more than 80 percent since the end of 2006, named Thomas J. McInerney as chief executive officer to stanch losses from insuring mortgages in the U.S.

Dec. 11 (Bloomberg) -- Facebook Inc. is moving ahead with revisions to its data-sharing and member-input policies that privacy advocates had opposed after failing to get enough votes in a user poll on the proposed changes.

Dec. 11 (Bloomberg) -- Sprint Nextel Corp. is studying strategic options for its wireless partner Clearwire Corp., including a full takeover of the business, according to two people with knowledge of the situation.

Dec. 11 (Bloomberg) -- Research In Motion Ltd. climbed to a seven-month high after the BlackBerry maker said a survey showed application developers’ willingness to endorse its new BlackBerry 10 platform has more than doubled since May.

A Delaware bankruptcy judge on Tuesday approved the sale of most of the assets of failed battery maker A123 Systems Inc. to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for nearly $257 million.

Dec. 11 (Bloomberg) -- A proposal to allow Dish Network Corp. to offer smartphone service was approved by the U.S. Federal Communications Commission, the agency said.

Dec. 11 (Bloomberg) -- Canada’s merchandise trade deficit unexpectedly narrowed in October as imports fell and exports of agricultural goods surged.

Fear and frustration course through the lunch crowd at Robie's Country Store and Deli, a popular outpost 500 miles from where Washington is again locked in tense negotiations over taxes and spending as a critical deadline looms.

Dec. 11 (Bloomberg) -- The euro strengthened for a second day against the dollar after a German report showed investor confidence jumped in December and as Spain sold more than its target amount at a bill auction.

The Treasury Department said Tuesday that it has sold all of its remaining shares of American International Group Inc., moving to wrap up the government's biggest bailout of the 2008 financial crisis.

U.S. stock futures are rising in anticipation that the Federal Reserve will announce new measures to ramp up the U.S. economy.

Dec. 11 (Bloomberg) -- Gold traded near the highest level in almost a week in New York amid speculation the Federal Reserve will expand monetary stimulus at a policy meeting.

Greece raised (euro) 4.4 billion ($5.7 billion) Tuesday in two short-term debt auctions, needed to plug gaps as the country awaits a long-delayed rescue loan payment.

Dec. 11 (Bloomberg) -- China and Russia have pulled out of a proposal that would have given individual countries sovereignty over Internet addresses and domains, according to the International Telecommunication Union.

Dec. 11 (Bloomberg) -- Treasuries fell, with 10-year yields climbing to the highest level in a week, as a German report showing investor confidence jumped in December damped demand for the safest securities.

Dec. 11 (Bloomberg) -- A gauge of U.S. corporate credit risk declined to the lowest level in almost two months as German investor confidence jumped to a seven-month high.

Dec. 11 (Bloomberg) -- Belden Inc., a St. Louis-based maker of networking equipment, acquired PPC for $515.7 million to add products for broadband services.

HSBC avoided a legal battle that could further savage its reputation and undermine confidence in the global banking system by agreeing Tuesday to pay $1.9 billion to settle a U.S. money-laundering probe.

Dec. 11 (Bloomberg) -- Hungarian lawmakers passed the 2013 budget, keeping extraordinary company taxes opposed by the International Monetary Fund and which businesses blame for a lack of investment and economic growth.

U.S. employers advertised more jobs in October than September, a hopeful sign that hiring could pick up in the coming months.

U.S. wholesale businesses increased their stockpiles in October but their sales fell sharply, a mix sign for economic growth.

PetSmart Inc. has declared a quarterly common stock cash dividend of 16.5 cents payable before the end of the year, protecting its shareholders from potential tax increases next year.

The European Union approved a new common patent system on Tuesday designed to cut red tape and streamline patent procedures across much of Europe.

Spain has raised an above-target $5 billion ((euro) 3.9 billion) in a successful debt auction that saw interest rates drop sharply despite renewed concern about whether the country needs international help.

Cypriot police say a group of investors and savers protesting outside parliament shoved their way past security and entered the building.

The Syrian government seems to have slowed preparations for the possible use of chemical weapons against rebel targets, U.S. Defense Secretary Leon Panetta said Tuesday.

The United Nations says Afghan women are still victims of abuse despite some success by authorities in prosecuting cases of rape, forced marriages and domestic violence.

Census figures show Britain is more ethnically diverse and less religious than it was a decade ago.

Street gangsters that commit assaults and killings are not terrorists under the statute enacted after hijackers crashed jets into the World Trade Center on Sept. 11, New York's highest court unanimously ruled Tuesday.

Tue, Dec 11, 2012