 |
|
|
 |
September 7, 2008 |
|
BUSINESS
Chinese Tires Are Ordered Recalled
A U.S. tire importer disclosed that its Chinese manufacturer had stopped including a safety feature meant to prevent tread separation.
The New York Times On The Web
Funds’ Woes Didn’t Deter a Stock Offer
Everquest Financial has withdrawn an initial public offering that disclosed that its assets had been bought from Bear Stearns’ two troubled hedge funds.
The New York Times On The Web
Mending Fences at World Bank
Robert B. Zoellick, the new chief of the World Bank, will need to smooth ruffled feathers left by his predecessor Paul D. Wolfowitz.
The New York Times On The Web
Private Equity Investors Hint at Cool Down
After years of supersize private equity deals, investors have begun to push back at several prominent transactions.
The New York Times On The Web
Murdoch’s Dealings in China: It’s Business, and It’s Personal
Many big companies have sought to break into the Chinese market, but few of them have been as ardent and unrelenting as Rupert Murdoch’s News Corporation.
The New York Times On The Web
Lennar Posts $244.2 Million Quarterly Loss
The second largest U.S. home builder on Tuesday reported a quarterly loss, citing charges related to land values and declining demand related to the subprime-mortgage meltdown.
The New York Times On The Web
No Takeoff, but 2 Visits by the Police
First the air-conditioning didn’t work. Then the flight was delayed. Finally, a passenger with a video camera began asking some tough questions.
The New York Times On The Web
Billionaire Thinks in Trillions for His Computer Designs
A co-founder of Sun Microsystems plans to introduce a supercomputer that will compete for the title as world’s fastest.
The New York Times On The Web
Supreme Court to Weigh Limits on Cases Involving Medical Devices
At issue is whether makers of medical equipment approved by the federal government may be sued under state law by patients injured by those devices.
The New York Times On The Web
Enjoy Your Green Stay
Hotels are finding that environmentally conscious features — like the bamboo flooring — are in demand from guests and can save money as well.
The New York Times On The Web
Prosecutors Invite a Dismissal in KPMG Tax-Shelter Case, Burdened by Technicalities
Prosecutors have essentially dared a judge to dismiss charges against former KPMG employees so that they can appeal the ruling and get the case moving again.
The New York Times On The Web
The Forces of Neatness Hope to Fill a Niche
A new magazine called Organize, which makes its debut Tuesday, wants to prove that independent magazines are alive and well.
The New York Times On The Web
Delphi Workers May Give Up Their Layoff-Pay Benefit
Unionized workers at the auto parts supplier could vote to throw out a program that lets them continue receiving most of their pay after being laid off.
The New York Times On The Web
Billion-Dollar Deal to Be a Partner in Some Warner Films
The production company, Legendary, will invest $1 billion in a portfolio of films co-produced by Warner Brothers Pictures.
The New York Times On The Web
U.S. Is Creating 3 Centers for Research on Biofuels
The new approach supports President Bush’s goal of reducing gasoline consumption by 20 percent in 10 years.
The New York Times On The Web
Finding Adventure and Trying to Save It
When a special space has become threatened, a collective force has been there ready to lend energy, money and time to preservation.
The New York Times On The Web
Investors React to New Worries Over State of Hedge Funds
Concern over subprime mortgages extended the stock market’s worst weekly decline since March.
The New York Times On The Web
Google Seeks Ruling on Microsoft Oversight
Google is pressing for an extension to the Justice Department’s oversight of Microsoft’s business practices.
The New York Times On The Web
Hollinger’s Former Lawyer Described as Trustworthy
Mark S. Kipnis, on trial for fraud with its ex-chairman, Conrad M. Black, should be acquitted of all charges, his lawyer said.
The New York Times On The Web
Sales of Existing Homes Fall to Lowest Level in 4 Years
Sales of existing homes fell in May to the lowest level in four years while the median home price dropped for a record 10th consecutive month.
The New York Times On The Web
Walgreen Profit Rises 19.6%
The company said that it also would consider “select” acquisitions and was looking for other pharmacy-related health care opportunities.
The New York Times On The Web
Hancock Case Is Settled for $21.3 Million
The Manulife Financial Corporation will pay $21.3 million to settle claims that its John Hancock investment units secretly diverted client funds to pay for marketing.
The New York Times On The Web
Ex-Chief of Cendant Denied Bid for Release
Walter A. Forbes was denied release pending an appeal of his conviction in a case over one of corporate America’s biggest accounting scandals.
The New York Times On The Web
I.B.M. to Pay Settlement
I.B.M. agreed to pay $7 million as part of a settlement of a federal regulatory investigation involving Dollar General’s 2000 financial statements.
The New York Times On The Web
Spanish Utility Plans to Acquire Energy East
Iberdrola plans to buy the regional utility owner Energy East Corporation for $4.5 billion in cash.
The New York Times On The Web
Roche Is Pursuing Ventana
The Swiss drug maker said it would start a tender offer to acquire Ventana Medical Systems for about $3 billion.
The New York Times On The Web
Canada: Food Manufacturer to Be Sold to U.S. Company
The E. D. Smith Income Fund, a trust that owns a variety of private-label food manufacturing operations, said it planned to sell all of its assets to TreeHouse Foods of the United States in a deal valued at about 217 million Canadian dollars ($203 million). TreeHouse, based in Westchester, Ill., would also assume E. D. Smith’s existing debt and the transaction costs. If the deal goes through, stakeholders should receive up to 9.15 Canadian dollars a unit, subject to a “holdback” of 60 Canadian cents a unit to cover certain expenses, the fund said, which could lower the amount received by unit holders. Units of E. D. Smith, which is based in Winona, Ontario, rose 1.23 Canadian dollars, or 17 percent, to 8.57 Canadian dollars on the Toronto Stock Exchange.
The New York Times On The Web
China: HSBC to Buy Part of Tower in Shanghai
HSBC Holdings, the European bank, said it would buy part of an office tower in Shanghai to house its China headquarters as it speeds up expansion in China. HSBC agreed to buy naming rights and occupy 20 floors of one of the twin towers of the Shanghai International Finance Center, to be completed by 2010, from Sun Hung Kai Properties, HSBC said in a statement to the Hong Kong Stock Exchange. The tower, a few blocks from the bank’s current headquarters, would be renamed HSBC Building-Shanghai IFC. Stephen K. Green, the chairman of HSBC, disclosed the deal at a news conference in Shanghai, but he declined to say how much the bank had agreed to pay.
The New York Times On The Web
Hungary: Interest Rate Is Lowered Unexpectedly
Hungary’s central bank unexpectedly cut its benchmark interest rate, the European Union’s highest, for the first time since 2005 after inflation slowed. Policy makers, led by the central bank’s governor, Andras Simor, left, cut the two-week deposit rate a quarter-point, to 7.75 percent, after holding it since October. A leveling of wage growth also persuaded rate setters to lower borrowing costs, Mr. Simor said. Hungary’s annual inflation rate has quadrupled in the last year as Prime Minister Ferenc Gyurcsany’s government raised taxes and utility bills. Inflation excluding food and energy prices slowed for a second month in May, and an easing of pressures in the labor market reduced concern that prices would rise faster than the inflation target in the medium term.
The New York Times On The Web
Britain: Vacation Service in Merger With Auto Group
The Saga Group, a British provider of insurance and vacations to the consumers 50 and older, agreed to merge with the Automobile Association in a transaction that values the two closely held companies at £6.2 billion ($12.4 billion). The deal would enable Saga to offer policies and cruises to the Automobile Association’s older customers and the association to sell roadside assistance to Saga’s 2.5 million clients, the companies said. About 15 million British motorists rely on the association when their cars break down. Saga’s chief executive, Andrew Goodsell, will head the company, and the automobile association’s chief executive, Tim Parker, will quit.
The New York Times On The Web
Memo Pad
REGISTERED TRAVELER PROGRAM While skeptics point to the sluggish pace of the nationwide rollout of the Registered Travel Program, a second competitor, Unisys, said it opened its first program, called rtGO, at Reno-Tahoe International Airport. Membership in rtGO is $100 a year. Under the program, participants cleared in a background security check receive an identification card encoded with biometric data like iris scans and fingerprints. The card provides access to a special security lane. Several other competitors are planning to enter the business but the main operator is Verified Identity Pass, whose Clear program has about 48,000 members and locations at Terminals 1, 4 and 7 at Kennedy International Airport, as well as at airports in Orlando, Fla.; Cincinnati; San Jose, Calif.; and Indianapolis. Verified Identity plans to open a lane soon at Terminal B in Newark. While members get a special lane, so far other planned benefits of the program, like the ability to pass throughout without removing shoes, laptops or outer garments, have lagged behind, pending Transportation Security Administration approval of new technologies.
The New York Times On The Web
|
|
|
|
|
