NYT > Business (49 unread)
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Icahn Said to Plan Yahoo Proxy Fight
Posted: May 14th, 2008, 8:29pm EDT by By ANDREW ROSS SORKIN
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Carl Icahn has decided to move ahead with plans for a proxy fight at Yahoo and will propose a dissident slate of directors, people with knowledge of the plans said.
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British Bank Chief Expects Inflation to Accelerate
Posted: May 14th, 2008, 8:27pm EDT by By JULIA WERDIGIER
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The central bank governor, Mervyn King, said that inflation in Britain, which rose to 3 percent in April, would probably remain that high or rise as energy and food prices increase.
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Macy’s Reports Loss on Lower Sales
Posted: May 14th, 2008, 8:25pm EDT by By THE ASSOCIATED PRESS
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Macy’s reported a $59 million first-quarter loss because of lower sales and the costs of a consolidation, which the company said should start paying off next year.
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State of the Art: Don’t Know What It Is, but the Widgets Are Fun
Posted: May 14th, 2008, 8:24pm EDT by By DAVID POGUE
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Set a Chumby on your bedside table and watch the widgets go by.
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Prices Rise, but Inflation Fears Ease
Posted: May 14th, 2008, 8:18pm EDT by By PETER S. GOODMAN
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Consumer prices edged up slightly in April, but far more slowly than many economists had anticipated.
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DealBook: G.E. Looks to Sell Its Appliances Unit
Posted: May 14th, 2008, 8:18pm EDT by By DEALBOOK
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The announcement comes as G.E.’s chief executive, Jeffrey Immelt, tries to fix the troubled conglomerate, which has been hit hard by the slumping economy.
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Freddie Mac Plans to Raise $5.5 Billion
Posted: May 14th, 2008, 8:15pm EDT by By CHARLES DUHIGG
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The provider of financing for residential mortgages made the announcement as it reported a quarterly loss that was not as large as had been expected.
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Writedown at Royal Bank of Canada
Posted: May 14th, 2008, 8:09pm EDT by By THE NEW YORK TIMES
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The Royal Bank of Canada said it would take a write down of 855 million Canadian dollars ($846 million) on its second-quarter earnings, largely because of problems in the United States debt market.
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Tax Havens Face Pressure From Europe
Posted: May 14th, 2008, 8:04pm EDT by By STEPHEN CASTLE
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The European Commission will propose expanding a directive to ensure that Europeans do not evade taxes on the interest from savings by opening accounts abroad.
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Ex-Fed Chief Warns That ’70s-Style Inflation Is Possible
Posted: May 14th, 2008, 7:58pm EDT by By REUTERS
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Paul A. Volcker warned that the United States could face a 1970s-style period of skyrocketing inflation if investors lost confidence in the buying power of the dollar.
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Judge Allows Suit Against Countrywide Officers
Posted: May 14th, 2008, 7:49pm EDT by By GRETCHEN MORGENSON
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Directors and officers of Countrywide, the beleaguered mortgage lender, will have to answer shareholder accusations of insider trading and a failure to monitor lending practices.
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Deere Posts Higher Profit, but Warns of Rising Costs
Posted: May 14th, 2008, 7:30pm EDT by By THE ASSOCIATED PRESS
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The world’s largest maker of farm machinery said costs tied to the closure of a facility in Canada weighed on fourth quarter results.
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Condo Life: Foreclosures, Higher Fees and Yardwork
Posted: May 14th, 2008, 7:15pm EDT by By CHRISTINE HAUGHNEY
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As foreclosures mount and contributions to building associations shrink, condo owners find themselves nagging each other to pay their assessments and haggling over chores.
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Indians Find U.S. at Fault in Food Cost
Posted: May 14th, 2008, 6:51pm EDT by By HEATHER TIMMONS
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Instead of blaming India and others for the rise in food prices, Americans should rethink their energy policy — and stop eating so much, say a growing number of Indians.
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House Backs Farm Bill With Numbers to Beat Veto
Posted: May 14th, 2008, 6:06pm EDT by By DAVID STOUT
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The House overwhelmingly approved a $300 billion farm bill, making it probable that the measure will become law.
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Questions About TV Ad for Heart Stent
Posted: May 14th, 2008, 5:52pm EDT by By STEPHANIE SAUL
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A television ad for a heart stent may deceive the public and should be reviewed by federal regulators, according to an article published by a leading medical journal.
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Europe Expands Inquiry of Drug Companies
Posted: May 14th, 2008, 3:54pm EDT by By JAMES KANTER
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Investigators are seeking to determine whether companies are blocking generics drugmakers from getting less-expensive medicines to market quickly.
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Entrepreneurial Edge: If It’s Eye Care Technology, This Must Be Orange County
Posted: May 14th, 2008, 3:18pm EDT by By JAMES FLANIGAN
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Orange County, Calif., has become a center for small eye care device makers in much the same way that Silicon Valley is a center for technology.
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Texas Court Overturns Vioxx Ruling
Posted: May 14th, 2008, 2:32pm EDT by By THE ASSOCIATED PRESS
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The case involves a jury award to the widow of a 71-year-old man who had a history of heart disease and died of a heart attack after taking Vioxx briefly.
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Delta Pilots Approve Changes Ahead of Merger
Posted: May 14th, 2008, 2:11pm EDT by By THE ASSOCIATED PRESS
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Pilots voted overwhelmingly in favor of changes to their contract that will give them pay raises, an equity stake and other benefits, but also will give management more leeway.
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Delays Stall Delivery of Airbus A380s Again
Posted: May 14th, 2008, 1:45pm EDT by By CAROLINE BROTHERS
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The European plane maker announced another delay in deliveries of its A380 superjumbo, a report that came as no surprise to a market jaded by overambitious promises from manufacturers.
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When an Anchor Curses on the Air, She Becomes the Night’s Top Story
Posted: May 14th, 2008, 1:43pm EDT by By JAMES BARRON
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On live television, Sue Simmons used an unpublishable word to chide her WNBC-TV co-anchor, Chuck Scarborough.
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Oil Refiners See Profits Sink as Consumption Falls
Posted: May 14th, 2008, 11:54am EDT by By JAD MOUAWAD
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Oil refiners have not been able to to raise gasoline prices enough to pass along the full increases in oil, analysts say.
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Craigslist’s Countersuit Criticizes eBay’s Tactics
Posted: May 14th, 2008, 11:10am EDT by By LAURIE J. FLYNN
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The online classifieds company filed a countersuit against minority owner eBay, accusing it of unfair competition, false advertising, trademark infringement and diluting the value of the Craigslist trademark.
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Celebrity Editor to Leave Her Post
Posted: May 14th, 2008, 11:01am EDT by By REUTERS
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The celebrity magazine editor Bonnie Fuller is resigning as executive vice president and chief editorial director of American Media, the publisher of the National Enquirer and Star magazines.
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Advertising: A Second Night for Comedy at CBS
Posted: May 14th, 2008, 10:41am EDT by By BILL CARTER
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CBS will try to expand its growing success with comedy in the new lineup of programs that it will introduce on Wednesday to advertisers in New York.
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Games Unit Helps Sony in Quarter
Posted: May 14th, 2008, 10:30am EDT by By MARTIN FOSTER
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Income at the consumer electronics giant rebounded as the company was able to hold down chip costs, but was hurt by a drop in the value of its financial holdings.
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ING Profit Down 19% Amid Market Turmoil
Posted: May 14th, 2008, 10:23am EDT by By REUTERS
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The Dutch financial services group reported a bigger-than-expected drop in quarterly net profit, hit by weaker returns from real estate, private equity and market investments.
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Discounters Fared Well in Quarter
Posted: May 14th, 2008, 9:51am EDT by By MICHAEL BARBARO
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Wal-Mart Stores and the TJX Companies said that sales and profit surged during the first three months of the year as consumers flocked to their discounted merchandise.
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Liberty Media in Accord With Diller’s Company
Posted: May 14th, 2008, 1:39am EDT by By GERALDINE FABRIKANT
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Liberty Media and IAC/InterActiveCorp said that they had settled their differences, paving the way for the division of IAC into five companies.
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Quirky Top-Floor Spaces in Demand for Offices
Posted: May 14th, 2008, 1:37am EDT by By CLAIRE WILSON
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Manhattan landlords and developers are creating new rentable space from top floors once used for storage or equipment, and they are figuring out how to use even small quantities of air rights.
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April Retail Sales Dipped, but Some Sectors Held Up
Posted: May 14th, 2008, 1:37am EDT by By REUTERS
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United States retail sales weakened modestly in April, but outside the auto sector they were more resilient than many economists had forecast.
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At Barneys, the Chief Is Leaving After 7 Years
Posted: May 14th, 2008, 1:28am EDT by By MICHAEL BARBARO and ERIC WILSON
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Howard Socol helped to restore Barneys luster after the chain slipped into bankruptcy in the 1990s.
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Philadelphia to Lose Its Wi-Fi Network
Posted: May 14th, 2008, 1:27am EDT by By THE ASSOCIATED PRESS
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EarthLink is pulling the plug on its troubled wireless high-speed Internet network in Philadelphia, once seen as a national model.
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Charges Widen Loss at Electronic Arts
Posted: May 14th, 2008, 1:27am EDT by By THE ASSOCIATED PRESS
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The video game publisher said that its fourth-quarter net loss widened on restructuring charges, though its adjusted revenue beat Wall Street’s expectations.
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Toll Brothers Expects 30% Drop in Revenue
Posted: May 14th, 2008, 1:27am EDT by BYREUTERS
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Preliminary results show home-building revenue of $817.9 million for the second quarter for the luxury home builder amid a week spring selling season.
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The Optimistic (and Long) View of Larry A. Silverstein
Posted: May 14th, 2008, 1:23am EDT by By TERRY PRISTIN
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At a time when many developers around the country are being forced to pull in their reins, Larry A. Silverstein has only to look out his windows to see a new real estate empire in the making.
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Profit Dips at Whole Foods Market
Posted: May 14th, 2008, 1:21am EDT by BYREUTERS
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Whole Foods Market posted a lower quarterly profit, missing analysts’ estimates by a penny, as it booked charges related to its acquisition of Wild Oats Markets.
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Financial Markets Calmer, but Still ‘Far From Normal,’ Bernanke Says
Posted: May 14th, 2008, 1:20am EDT by By THE ASSOCIATED PRESS
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The Federal Reserve’s steps to ease the credit crunch “have contributed to some improvement in financing markets,” the Fed chief said in remarks on Tuesday.
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Stocks & Bonds: ‘A Trendless Market’ Ends the Day Mixed
Posted: May 14th, 2008, 1:19am EDT by By THE ASSOCIATED PRESS
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Wall Street turned in a mixed performance after a report on retail sales and high oil prices reminded investors that the economy is flagging and costs are rising.
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Hewlett-Packard Is Facing Skepticism on E.D.S. Deal
Posted: May 14th, 2008, 1:14am EDT by By MATT RICHTEL
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Hewlett-Packard proposes to spend $14 billion to acquire Electronic Data Systems, an underperforming technology services provider.
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Nissan Warns Profit Jump Is Fleeting
Posted: May 14th, 2008, 1:11am EDT by By THE ASSOCIATED PRESS
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Nissan became the latest major Japanese automaker to report booming earnings for the fiscal year that just ended while forecasting a plunge in profit for the current year.
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Liz Claiborne Beats Wall St. Expectations
Posted: May 14th, 2008, 1:11am EDT by BYREUTERS
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Despite the strong results, Liz projected weakness in the second quarter because of a calendar shift, disappointing sales trends in its Mexx Europe business and discounting by American retailers.
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Ex-Banker From UBS Is Indicted in Tax Case
Posted: May 14th, 2008, 1:10am EDT by By LYNNLEY BROWNING
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A former UBS banker and another man were charged for their alleged role in a tax evasion scheme.
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Relief on Société Générale’s Profit Report
Posted: May 14th, 2008, 1:09am EDT by By JAMES KANTER
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Société Générale said quarterly net profit fell 23 percent. But Crédit Agricole said it would seek a $9.1 billion infusion to shore up capital after write-downs at one of its investment banks.
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Icahn Is Said to Weigh a Proxy Fight at Yahoo
Posted: May 14th, 2008, 1:08am EDT by By ANDREW ROSS SORKIN and MIGUEL HELFT
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Carl C. Icahn is considering a proxy fight for seats on Yahoo’s board in hopes of pushing the company to restart talks to sell itself to Microsoft.
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Economic Scene: Fearing Red Herring in the Data
Posted: May 14th, 2008, 1:02am EDT by By DAVID LEONHARDT
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What are we supposed to make of the latest batch of better-than-expected economic news?
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Clear Channel Accepts Smaller Takeover Bid
Posted: May 14th, 2008, 12:52am EDT by By MICHAEL J. de la MERCED
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Clear Channel agreed to a revised $17.9 billion takeover by two private equity firms after settling a long and often acrimonious dispute with the six banks that agreed to finance the deal.
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Australian Bank Acquires Rival for $17.5 Billion
Posted: May 14th, 2008, 12:36am EDT by By TIM JOHNSTON
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Westpac Banking said that it would acquire St. George in a deal that will create one of Australia’s largest banks.
