NYT > Business (27 unread)
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Lower Oil Prices Help Propel Shares in Europe
Posted: August 5th, 2008, 8:59am EDT by By MATTHEW SALTMARSH
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Stocks on Wall Street were poised to follow European markets higher as the price of crude oil continued to decline and as investors awaited the Fed’s announcement on rates.
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At Freddie Mac, Chief Discarded Warning Signs
Posted: August 5th, 2008, 8:51am EDT by By CHARLES DUHIGG
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A 2004 memo warned of problematic loans at the mortgage giant, but the questionable practices continued, a former chief risk officer said.
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Profit Falls at French Bank Hit by Trading Scandal
Posted: August 5th, 2008, 8:43am EDT by By MATTHEW SALTMARSH
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Société Générale, which lost nearly $7.2 billion in a trading scandal this year, said quarterly net profit fell 63 percent, on write-downs and after its investment banking unit posted a loss.
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Sony Buying Bertelsmann’s Stake
Posted: August 5th, 2008, 8:29am EDT by By THE ASSOCIATED PRESS
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Bertelsmann will sell its 50-percent stake in Sony BMG to Sony, the companies announced, giving the Japanese company full ownership of the joint venture.
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Big Yahoo Shareholder Says a Tally Needs a Second Look
Posted: August 5th, 2008, 5:01am EDT by By MIGUEL HELFT
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The request for re-examination suggests that the votes actually withheld for certain Yahoo directors, including the chief executive, Jerry Yang, may have been higher than reported.
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The Caucus: Diagnosed With Tumor, Novak Retires
Posted: August 5th, 2008, 3:48am EDT by By RICHARD PEREZ-PENA
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Robert Novak, the conservative columnist who learned recently that he has a brain tumor, says his condition is “dire” and he has retired, The Chicago Sun-Times reports.
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Market Place: Motorola Names Leader for Mobile Phone Unit
Posted: August 5th, 2008, 2:19am EDT by By LAURA M. HOLSON
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Sanjay K. Jha of Qualcomm was tapped to head Motorola’s troubled mobile phone division and share chief executive duties for the entire company in an unusual power-sharing arrangement.
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Authority to Fight Landing Slot Auction Proposal
Posted: August 5th, 2008, 1:41am EDT by By MATTHEW L. WALD
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The Port Authority of New York and New Jersey announced plans to block the Bush administration’s proposal to auction airport landing slots.
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Dealbook: On Wall St., Reputation Is Fragile
Posted: August 5th, 2008, 1:25am EDT by By ANDREW ROSS SORKIN
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The story of the resignation of Steven Rattner, a managing director at Credit Suisse, started with an extramarital affair and ended with an Internet vendetta.
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Booming China Suddenly Worries That a Slowdown Is Taking Hold
Posted: August 5th, 2008, 12:58am EDT by By KEITH BRADSHER
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Growth in China is expected to slip a couple of percentage points below the double digit threshold over the coming year, relieving inflationary pressure but undermining global growth.
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Lilly Diabetes Drug Shows a Life-Extending Promise
Posted: August 5th, 2008, 12:50am EDT by By ALEX BERENSON
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Byetta, an injectable drug that lowers blood sugar, may help people with diabetes to live longer, according to the results of a major clinical trial.
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A Home Builder Led by Icahn Files for Bankruptcy Protection
Posted: August 5th, 2008, 12:26am EDT by By REUTERS
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Stock in WCI Communities lost almost all its value after the company filed for bankruptcy protection after failing to obtain financing to stay afloat.
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Inflation Takes Steam Out of Rise in Spending
Posted: August 5th, 2008, 12:23am EDT by By CATHERINE RAMPELL
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Consumer spending increased 0.6 percent in June, but prices rose 0.8 percent, the government reported, indicating months of challenges to come.
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ImClone Says Bid From Bristol-Myers Undervalues the Company
Posted: August 5th, 2008, 12:23am EDT by By MICHAEL J. de la MERCED
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ImClone Systems, the maker of the anticancer drug Erbitux, said a $4.5 billion takeover bid by Bristol-Myers Squibb “substantially undervalues” the company.
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Millions With Chronic Disease Get Little to No Treatment
Posted: August 5th, 2008, 12:22am EDT by By REED ABELSON
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A study estimates that about one of every three working-age adults without insurance in the U.S. has received a diagnosis of a chronic illness and is not getting adequate treatment.
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Humana Beats Expectations Despite Slight Drop in Profit
Posted: August 5th, 2008, 12:13am EDT by By THE ASSOCIATED PRESS
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The health insurer Humana faced less drops in premiums from its stand-alone Medicare prescription drug plans than it had expected.
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On the Road: What a Chic New Bag. And X-Ray Friendly, Too.
Posted: August 5th, 2008, 12:13am EDT by By JOE SHARKEY
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The first X-ray-friendly laptop bags have hit the market.
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Frequent Flier: A Mission to Help Those Scarred by War, Born of a Family’s Grief
Posted: August 5th, 2008, 12:12am EDT by By JOAN RAYMOND
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Waiting to leave their planes, passengers saw the coffin of a military officer killed in Iraq been unloaded from a commercial flight.
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Itineraries: Women-Friendly Hotel Floors Return, With Modern Twists
Posted: August 5th, 2008, 12:11am EDT by By PAUL BURNHAM FINNEY
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The new floors being offered in several hotel chains offer female guests a variety of amenities ranging from yoga mats to Victoria’s Secret robes.
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Merrill’s Chief Defends Recent Sale
Posted: August 5th, 2008, 12:10am EDT by By LOUISE STORY
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Merrill Lynch’s chief said he sold mortgage investments at fire-sale prices to bolster employee morale.
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Six New TV Channels in India to Increase Murdoch’s Profile
Posted: August 5th, 2008, 12:09am EDT by By RICHARD PÉREZ-PEÑA
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Rupert Murdoch announced the News Corporation would invest $100 million in six regional television channels in India, and he unveiled a new Dow Jones index to track Indian stock markets.
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HSBC Warns of Challenges as Its Profit Drops 29%
Posted: August 5th, 2008, 12:08am EDT by By JULIA WERDIGIER
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The biggest European bank reported net income of $7.7 billion in the first half of 2008 as loan impairment charges and other credit risk provisions increased 58 percent.
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Pickens Plan Stirs Debate, and Qualms
Posted: August 5th, 2008, 12:06am EDT by By KATE GALBRAITH
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T. Boone Pickens Jr., the billionaire Texas oilman, has mounted a campaign to launch a national debate about the use of natural gas in cars and trucks.
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Advertising: A Ruling May Pave the Way for Broader Use of DVR
Posted: August 5th, 2008, 12:02am EDT by By BRIAN STELTER
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A new court ruling in New York said that the so-called network DVR, which records programs on a faraway computer rather than on the device itself, does not violate copyright law.
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UBS Executive Resigns Amid New York State Investigation
Posted: August 5th, 2008, 12:02am EDT by By REUTERS
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The Swiss bank UBS said that David Aufhauser, general counsel for its investment bank and for the Americas, had resigned.
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Stocks & Bonds: Sliding Markets Find Comfort in Plunging Oil Prices
Posted: August 5th, 2008, 12:00am EDT by By THE ASSOCIATED PRESS
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Wall Street fell Monday in an erratic session dominated by worries about inflation, which were somewhat soothed by a plunge in oil prices.
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Dish Network Subscribers Fall as Competition Grows Tougher
Posted: August 5th, 2008, 12:00am EDT by By REUTERS
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Lower installation costs for Dish helped lift its second-quarter profit above expectations, but analysts said the customer loss boded ill for the company’s growth prospect.
