NYT > Business (40 unread)
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Constellation’s Profit Rises 50% in First Quarter
Posted: July 1st, 2008, 11:38pm EDT by By THE ASSOCIATED PRESS
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Constellation Brands said Tuesday that its fiscal first-quarter profit jumped 50 percent, lifted by price increases as well as strong sales of its new higher-margin wine brands.
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Profit at Apollo Group
Posted: July 1st, 2008, 9:25pm EDT by By THE ASSOCIATED PRESS
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The Apollo Group, an education company that owns the University of Phoenix, says it earned $139.1 million in the third quarter as enrollment grew by 11 percent.
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Oil Demand Will Grow, Despite Prices, Report Says
Posted: July 1st, 2008, 7:53pm EDT by By CLIFFORD KRAUSS
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The International Energy Agency said that demand for oil should continue to climb, despite the doubling of oil prices and the weakening economic growth.
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U.S. Markets Follow Europe and Asia Lower
Posted: July 1st, 2008, 7:51pm EDT by By MICHAEL M. GRYNBAUM and DAVID JOLLY
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The 32-point gain in the Dow ended a volatile day that offered few clues about where the market may be headed.
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Sales Plunge as Automakers Are Hit Hard by High Gas Prices
Posted: July 1st, 2008, 7:49pm EDT by By NICK BUNKLEY
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Sales of new vehicles plunged in June, as high gas prices and a weak economy kept consumers away from showrooms.
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New York Ends Pay Suit Against Grasso
Posted: July 1st, 2008, 7:43pm EDT by By THE ASSOCIATED PRESS
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Richard A. Grasso will keep the $139.5 million he was paid as the former New York Stock Exchange chief.
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Mall Developer Seeks Advice From Women
Posted: July 1st, 2008, 7:12pm EDT by By SANA SIWOLOP
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Listening to female shoppers may seem like a logical thing to do, yet many developers and consultants say such input is often missing in the early stages of shopping center development.
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Another Setback for UBS in Tax Inquiry
Posted: July 1st, 2008, 6:48pm EDT by By LYNNLEY BROWNING
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A federal judge on Tuesday cleared the way for prosecutors to force the Swiss bank UBS to turn over the names of clients as part of an investigation of its offshore private banking practices.
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Starbucks to Close 500 More U.S. Stores
Posted: July 1st, 2008, 5:42pm EDT by By REUTERS
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The company said Tuesday it would close 600 stores in the United States and lay off as many as 12,000 full- and part-time employees, the most in its history.
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Rhode Island Court Rejects Lead Paint Ruling
Posted: July 1st, 2008, 5:25pm EDT by By ABHA BHATTARAI
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The state’s top court overturned a landmark jury decision that would have forced three paint manufacturers to pay billions of dollars to clean up contaminated homes.
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Microsoft Buys Linguistic Web Search Firm Powerset
Posted: July 1st, 2008, 4:55pm EDT by By REUTERS
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Microsoft said it had agreed to buy Powerset, a start-up that is working on a new class of Web search that relies on insights from linguistics rather than simple keyword strings.
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BP Staff in Russia May Have to Leave
Posted: July 1st, 2008, 3:51pm EDT by By ANDREW E. KRAMER
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BP appeared to be in danger of losing control of its Russian joint venture after learning that local authorities had refused to issue work permits to critical expatriates on its staff.
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Paulson, in Europe, Finds Misery Loves Company
Posted: July 1st, 2008, 3:26pm EDT by By MARK LANDLER
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With both sides of the Atlantic suffering from sagging growth, soaring inflation and shaky banks, the Treasury secretary tries to reassure Europe that the U.S. will right its economy.
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Moody’s Says Workers Overrated Some Securities
Posted: July 1st, 2008, 2:12pm EDT by By VIKAS BAJAJ
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Already under scrutiny for its role in the credit crisis, the Moody’s Corporation said that some employees violated its code of conduct in rating some complex European securities.
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Wal-Mart Faces Fine in Minnesota Suit
Posted: July 1st, 2008, 12:53pm EDT by By STEVEN GREENHOUSE
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A state judge has ruled that the discount store chain violated state laws on rest breaks and other wage matters more than two million times and could face more than $2 billion in fines.
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Bits: A Cringing Quarter for Venture Capitalists
Posted: July 1st, 2008, 2:28am EDT by By MATT RICHTEL
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In the second quarter, 50 merger and acquisition deals of venture-backed companies were completed. That’s down from 70 in the first quarter.
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Promise of Biofuel Clouded by Weather Risks
Posted: July 1st, 2008, 2:26am EDT by By JAD MOUAWAD
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Recent storms and floods have highlighted the risks of an economy that has grown more dependent on corn for fuel.
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Some Glimmers of Good News in Crop Forecast
Posted: July 1st, 2008, 1:32am EDT by By DAVID STREITFELD
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Recent floods were likely to have damaged the corn and soybean harvest less than feared and farmers have planted more corn than previously expected, the government said.
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Kenneth Macke, Who Led Target, Dies at 69
Posted: July 1st, 2008, 12:52am EDT by By DENNIS HEVESI
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Mr. Macke was a former chairman and chief executive of the Dayton Hudson Corporation, the forerunner of the retail giant Target Corporation.
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State of Florida Sues Countrywide
Posted: July 1st, 2008, 12:46am EDT by By REUTERS
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Florida sued Countrywide Financial and its chief executive, Angelo R. Mozilo, on Monday, accusing it of engaging in unfair and deceptive trade practices in mortgage lending.
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Midwest Business Activity Remained Weak in June
Posted: July 1st, 2008, 12:46am EDT by By REUTERS
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Business activity in the Midwest contracted for a fifth consecutive month but at a less severe rate, as production and new orders both slipped, a report showed Monday.
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Stocks & Bonds: Markets End Flat as Energy Shares Offset Financials
Posted: July 1st, 2008, 12:46am EDT by By REUTERS
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The Dow and the Standard & Poor’s 500-stock index were little changed on Monday on the final trading day of the second quarter as record oil prices lifted energy shares.
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Inflation in Europe Stirs Debate Over Rates
Posted: July 1st, 2008, 12:45am EDT by By CARTER DOUGHERTY
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Inflation in the euro area surged to a record 4 percent for the 12 months ending in June, fueling a debate about whether several interest rate hikes are now necessary.
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Niche Between Business and Economy
Posted: July 1st, 2008, 12:44am EDT by By SUSAN STELLIN
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European and Asian airlines have carved out “premium economy” sections with better seats, legroom and food.
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Frequent Flier: An Etiquette Expert vs. the Annoying Seatmate
Posted: July 1st, 2008, 12:43am EDT by By SUSAN FITTER; as told to JOAN RAYMOND
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He had had too much to drink, he wanted to chat, he was afraid of flying, he wanted more drinks and he just got louder and louder.
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Memo Pad
Posted: July 1st, 2008, 12:43am EDT by By JOE SHARKEY
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News about airlines and airports.
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India Offers 8 Ideals on a Climate Change Policy, but Few Details
Posted: July 1st, 2008, 12:42am EDT by By HEATHER TIMMONS
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How much the Indian government will spend on these goals, who will run the efforts and how they will be evaluated was unclear.
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Georgia Judge Cites Carbon Dioxide in Denying Coal Plant Permit
Posted: July 1st, 2008, 12:41am EDT by By MATTHEW L. WALD
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Both opponents of coal use and the company that wants to build the plant said it was the first time a court decision had linked carbon dioxide to an air pollution permit.
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Myriad Genetics Stops Work on Alzheimer’s Drug
Posted: July 1st, 2008, 12:38am EDT by By ANDREW POLLACK
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Flurizan, a drug developed by Myriad Genetics to treat Alzheimer’s disease, failed in a closely watched late-stage clinical trial, dealing another blow to efforts to combat the illness.
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France Télécom Moves On as Bid Fails
Posted: July 1st, 2008, 12:37am EDT by By DAVID JOLLY
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France Télécom that it would turn its attention to acquiring smaller companies in Africa, Asia and the Middle East after dropping its $42 billion offer for TeliaSonera.
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U.S. Seeks Names of UBS Clients
Posted: July 1st, 2008, 12:37am EDT by By LYNNLEY BROWNING
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U.S. authorities asked a federal court to force the Swiss bank to turn over the names of wealthy American clients suspected of evading taxes through secret offshore accounts.
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Black Lawmakers Seek Restrictions on Menthol Cigarettes
Posted: July 1st, 2008, 12:37am EDT by By STEPHANIE SAUL
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The Congressional Black Caucus is demanding that menthol cigarettes not be exempted from a bill that would ban flavored cigarettes.
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Chrysler Plans to Close a Minivan Plant and Reduce Output of a Truck
Posted: July 1st, 2008, 12:36am EDT by By NICK BUNKLEY
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About 2,400 of the company’s 3,500 hourly jobs at the two plants affected by the announcement will be eliminated within four months, Chrysler said.
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On the Road: Bag Helps Laptop Pass Air Security
Posted: July 1st, 2008, 12:35am EDT by By JOE SHARKEY
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New laptop bags approved by the Transportation Security Administration make it possible to go through X-ray inspection without having to take the laptop out.
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Financier Starts Sentence in Prostitution Case
Posted: July 1st, 2008, 12:35am EDT by By LANDON THOMAS Jr.
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Jeffrey E. Epstein, adviser to billionaires, on Monday left his Caribbean island home and turned himself in to Florida authorities to begin serving an 18-month sentence.
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EBay Ordered to Pay $61 Million in Sale of Counterfeit Goods
Posted: July 1st, 2008, 12:33am EDT by By DOREEN CARVAJAL
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The luxury giant LVMH for the second time successfully challenged eBay in a French court, arguing that 90 percent of the Louis Vuitton bags and Dior perfumes sold on eBay are fakes.
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Advertising: The Force Lives On, as Do the Toys
Posted: July 1st, 2008, 12:16am EDT by By DOUGLAS QUENQUA
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The retailer Toys “R” Us is counting down to July 26, when it begins selling toys from the latest “Star Wars” film, “The Clone Wars,” an animated movie that opens in August.
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Blackstone to Sell a Business It Has Held for a Decade
Posted: July 1st, 2008, 12:15am EDT by By MICHAEL J. de la MERCED and PETER EDMONSTON
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Holding an investment for ten years is an unusually long time in the private equity world.
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Market Place: At Midyear, the Economic Pain Persists
Posted: July 1st, 2008, 12:12am EDT by By VIKAS BAJAJ
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More than a year after the credit crisis first flared, the financial industry seems to be caught in a vicious circle.
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Dealbook: Are Bean Counters to Blame?
Posted: July 1st, 2008, 12:10am EDT by By ANDREW ROSS SORKIN
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For Stephen A. Schwarzman, the co-founder of the Blackstone Group, an accounting rule partly explains why the American financial system looks so wobbly these days.
