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US News Archive for July 2007:
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Operatic Tenor Is Brain Damaged
Jerry Hadley apparently shot himself in the head with an air rifle at his home in upstate New York and suffered brain damage, the police said...
New York Times - July 11, 2007
Lady Bird Johnson, Former First Lady, Dies at 94
Lady Bird Johnson, whose business skills cushioned President Lyndon B. Johnson?s road to the White House, has died at 94...
New York Times - July 11, 2007
House Backs Big Changes in Student Aid Programs
The House voted to slash $19 billion in federal subsidies to student lenders and cut in half the interest rates on federally backed loans...
New York Times - July 11, 2007
Warming Report Warns of Increased Flooding
Flooding could become more severe in the Northeast if nothing is done to reduce emissions, a report warned...
New York Times - July 11, 2007
Bush Instructs His Ex-Counsel Not to Appear at Hearing
Word that the White House wants to keep Harriet E. Miers from appearing before Congress came after another former aide refused to answer questions today...
New York Times - July 11, 2007
Cameras That Swim With the Fishes
Sanyo, Olympus and Pentax have introduced waterproof camera/camcorders that come surf-ready...
New York Times - July 11, 2007
AOL to Pay $3 Million Settlement Over Cancellation Policy
AOL has agreed to make it easier for its remaining customers to leave as part of a $3 million settlement with 48 states and the District of Columbia...
New York Times - July 11, 2007
Yum Posts Higher-Than-Expected Profit
Fast-food giant Yum Brands said that its second-quarter profit rose by 12 percent, amid ongoing growth in its international business that offset an essentially flat U.S. performance...
New York Times - July 11, 2007
Hollywood Executives Call for End to Residual Payments
Executives want to the end the industry?s decades-old system of payment to writers, actors and directors for the reuse of movie and television programs...
New York Times - July 11, 2007
Cerberus Chairman ?Committed to Chrysler?
John Snow, chairman of the private equity firm that is buying Chrysler, said that higher fuel economy standards threaten the future of the domestic auto industry...
New York Times - July 11, 2007
S.E.C. Adopts Rule to Protect Hedge Fund Investors
The Securities and Exchange Commission adopted a rule to protect investors from hedge fund advisers who make false or misleading statements...
New York Times - July 11, 2007
Motorola Forecasts Second-Quarter Shortfall
Cell phone maker Motorola warned of a second-quarter profit and sales shortfall, blaming poor results in its mobile devices business in Asia and Europe...
New York Times - July 11, 2007
Football: Chile blacklist players
Chile ban six players for 20 internationals each because of indiscipline during the Copa America...
BBC News - July 11, 2007
Tennis: US Open gets record cash
The total prize money for this year's US Open is nearly £10m while the men's and women's champions will win almost £700,000 each...
BBC News - July 11, 2007
Motorola issues profit warnings
Motorola warns it is making a loss, blaming weak mobile phone sales in Asia and Europe...
BBC News - July 11, 2007
US and EU revise Kosovo UN draft
The UN waters down a draft resolution promising independence for Kosovo if talks with Serbia fail...
BBC News - July 11, 2007
Former Bush Aide Refuses to Testify About Firings
Sara M. Taylor said she would follow President Bush?s directive and refuse to testify to a Senate panel about the administration?s firing of federal prosecutors...
New York Times - July 11, 2007
World Business Briefing: Japan: Current Account Surplus Widens
Japan?s current account surplus widened in May as a weaker yen increased the value of overseas investments and exports. The surplus expanded 31 percent, to 2.13 trillion yen ($17.5 billion), from a year earlier, the Ministry of Finance said...
New York Times - July 11, 2007
World Business Briefing: Canada: Bank of Montreal Expands
The Bank of Montreal said it had agreed to buy two Wisconsin banks for $327.2 million to expand its Harris Bank unit in the Midwest. Bank of Montreal said it bought Ozaukee Bank for $190 million in stock, and Merchants and Manufacturers Bancorporation for $137.2 million in cash. Ozaukee has eight branches and Merchants has 45. Bank of Montreal, which is based in Toronto, has spent about 1.5 billion Canadian dollars ($1.4 billion) on banks in the United States since 2000 to expand the Harris Bank of Chicago, which it bought in 1984. Bank of Montreal bid $37.30 a share for Merchants, or 33 percent more than its closing share price on Monday. Merchants is based in New Berlin. Ozaukee, based in the Milwaukee area, is privately held...
New York Times - July 11, 2007
World Business Briefing: Switzerland: Chip Maker to Close 3 Plants
The Swiss chip maker STMicroelectronics said it would close manufacturing plants in Texas, Arizona and Morocco, cutting 4,000 jobs. The company employs more than 50,000 people, its Web site says. The factories in Carrollton, Tex.; Phoenix; and Ain Sebaa, Morocco, are being phased out over two to three years...
New York Times - July 11, 2007
World Business Briefing: Canada: Central Bank Raises Interest Rate
The Bank of Canada raised its benchmark interest rate for the first time in more than a year and kept the door open for more increases to fight inflation, but did not clearly signal how soon the next move would be. The bank raised its overnight lending rate by one-quarter point, to 4.50 percent, in what analysts see as the beginning of a tightening cycle after the longest pause between rate moves in three decades. Increases in consumer prices in Canada have stayed above the bank?s 2 percent target and will not decline to the desired level until early 2009, the bank said in a less upbeat revision to its April outlook. ?I think it?s probably most likely that they will raise rates again in September, but I think the bank has been careful not to signal an overly aggressive stance at this point,? said Doug Porter, deputy chief economist at BMO Capital Markets...
New York Times - July 11, 2007
World Business Briefing: Britain: Trade Deficit Was Down in May
Britain?s trade deficit unexpectedly shrank in May to the narrowest in more than one and a half years as buoyant economic growth in Europe and Asia raised exports. The goods trade deficit was £6.3 billion ($12.7 billion), the least since October 2005, down from a revised £6.9 billion a month earlier, the Office for National Statistics said. The report suggests British manufacturers are coping with the level of the pound, which reached the highest in a quarter-century last week on speculation of higher interest rates. British factories are benefiting from an economic pickup in the euro region, which buys half of their exports. Exports to non-European Union countries rose in May, by 2.3 percent, and imports fell by 1.9 percent, narrowing the gap in the goods trade to £3.5 billion. Exports to European Union nations rose 4.2 percent...
New York Times - July 11, 2007
World Business Briefing: Nyse Joins Inquiry on Abn Amro Trades
NYSE Euronext has joined Dutch and British financial authorities in examining trading patterns of ABN Amro?s shares and American depositary receipts just before the multibillion-dollar bidding war over ABN became public, the bank said. ?We have received a request from the NYSE regarding transactions ahead of the announcement of our merger talks with Barclays,? a spokesman, Neil Moorhouse, said, reading a statement. He said ABN was cooperating with the investigation, but could not comment on whether there was any reason to suspect insider trading. The Supreme Court in the Netherlands is expected to make a ruling Friday in the fight between Barclays and a consortium of banks led by the Royal Bank of Scotland to buy ABN Amro for about 71 billion euros ($97.6 billion)...
New York Times - July 11, 2007
Liz Claiborne to Cut Up to 800 Jobs
NEW YORK (Reuters) - U.S. apparel company Liz Claiborne Inc. said on Wednesday that it will cut up to 800 jobs and consider its options for 16 apparel brands under a plan to cut costs...
New York Times - July 11, 2007
Stocks Rise on Takeover Activity
NEW YORK (AP) -- Stocks advanced Wednesday as Wall Street, coming off a sharp decline a day earlier, got a boost from takeover activity as it awaited second-quarter earnings reports...
New York Times - July 11, 2007
China Boosts 2006 Growth Figure
Beijing raised its estimate of the 2006 growth rate from 10.7 percent to 11.1 percent, moving China closer to overtaking Germany as the world?s third-largest economy...
New York Times - July 11, 2007
Ventana Rejects Roche?s Takeover Bid
Ventana Medical Systems said Roche?s hostile $3 billion takeover offer undervalues the diagnostics company and its prospects in the fast-growing cancer-testing market...
New York Times - July 11, 2007
Abu Hamza fights US extradition
Lawyers for jailed Muslim cleric Abu Hamza al-Masri tell a court he should not be extradited to face US charges...
BBC News - July 11, 2007
Bush tries to bolster Iraq plan
The White House tries to shore up support for its Iraq strategy, under fire from two more Republican Senators...
BBC News - July 11, 2007
American League 5, National League 4: A.L. Hangs On in Baseball?s All-Star Game
Ichiro Suzuki had the first inside-the-park home run in All-Star Game history and added two singles to lead the American League over the National League...
New York Times - July 11, 2007
Former Bush Aide Will Answer Some Questions
Sara Taylor will address the firings of attorneys but will honor the president?s invocation of executive privilege...
New York Times - July 11, 2007
Ex-Boeing worker in leak charges
A former Boeing worker accused of leaking material to the media is charged with 16 counts of computer trespass...
BBC News - July 11, 2007
Football: Brazil in Copa final
Brazil beat Uruguay 5-4 on penalties after a bad-tempered 2-2 draw to reach the Copa America final...
BBC News - July 11, 2007
Catholic leaders meet in Cuba
Roman Catholic bishops from across Latin America meet in Havana, in a show of improving relations with Cuba...
BBC News - July 11, 2007
Collapse of Big Dig Ceiling in Boston Is Tied to Glue
The ceiling collapsed in one of Boston?s Big Dig tunnels a year ago, killing a woman, because builders used the wrong epoxy, the National Transportation Safety Board said...
New York Times - July 11, 2007
Potter Has Limited Effect on Reading Habits
The truth about Harry Potter and reading is not quite a straightforward success story...
New York Times - July 11, 2007
American League 5, National League 4: Ichiro Makes History as A.L. Wins All-Star Game
Instead of a Barry Bonds splash shot, the defining hit at Tuesday?s All-Star game was Ichiro Suzuki?s inside-the-park home run, the first in the game?s history...
New York Times - July 11, 2007
McCain Campaign Drops Top Aides; New Doubts Rise
The departure of two aides left Senator John McCain?s campaign team gutted and raised new doubts about his ability to continue in the race...
New York Times - July 11, 2007
Surgeon General Sees 4-year Term as Compromised
Former Surgeon General Richard H. Carmona said that Bush administration officials tried to weaken or suppress important public health reports...
New York Times - July 11, 2007
Gerdau Ameristeel Acquires Chaparral
Gerdau Ameristeel said yesterday that it had agreed to acquire Chaparral Steel for $4.22 billion in cash in a move to diversify into high-value-added steel products...
New York Times - July 11, 2007
Home Builder to Report a Loss
DALLAS, July 10 (AP) ? D. R. Horton, the home builder, said Tuesday that it would post a loss for the just-ended quarter after net orders fell 40 percent and it wrote down the value of unsold houses...
New York Times - July 11, 2007
Pepsi Bottling?s Profit Rises
The Pepsi Bottling Group reported higher-than-expected profit yesterday, helped by cost controls and price increases, and raised its full-year forecast, sending its shares up...
New York Times - July 11, 2007
S.E.C. Eases a Restriction on Stock Symbols
The Securities and Exchange Commission approved a plan yesterday to allow companies listed on the New York Stock Exchange to retain their three-letter ticker symbols should they transfer to Nasdaq...
New York Times - July 11, 2007
Milberg Client Pleads Guilty to Taking Pay to File Suits
A former eye doctor in California pleaded guilty to accepting $6.1 million in secret kickbacks for serving as a lead plaintiff in securities lawsuits filed by Milberg Weiss...
New York Times - July 11, 2007
Interim Finance Chief Leaving Marvell Technology
Michael Tate, who also served as Marvell?s corporate controller and treasurer, was named interim chief financial officer in May...
New York Times - July 11, 2007
Former Boeing Worker Charged in Leaks
SEATTLE, July 10 (AP) ? A former Boeing worker accused of downloading internal documents and leaking them to the news media was charged Tuesday with 16 counts of computer trespass...
New York Times - July 11, 2007
Guilty Plea Entered in Gambling Case
A Canadian man who helped create Neteller, a company to process Internet gambling transactions, pleaded guilty yesterday to a federal conspiracy charge, about two weeks after another founder of the company entered a guilty plea...
New York Times - July 11, 2007
Chief Executive Is Named at First Data
Michael D. Capellas will become chief executive officer of credit card transaction processor First Data after the company is acquired by Kohlberg Kravis Roberts & Co...
New York Times - July 11, 2007
Online Movies Without a PC
TiVo said it has introduced a service to let customers buy movies and television shows from the Unbox service of Amazon.com without using a personal computer...
New York Times - July 11, 2007
Stocks & Bonds: Earnings Season Jitters Send Shares Down
Stocks plunged yesterday as investors, nervous about earnings reports, cringed at troubling forecasts from two retailers, Home Depot and Sears, and at soaring oil prices...
New York Times - July 11, 2007
Wholesaler Sales Rise Faster Than Inventories
WASHINGTON, July 10 (Bloomberg News) ? Sales at wholesalers rose faster than inventories in May, the Commerce Department said on Tuesday, making it more likely that companies will place more orders and that factories will increase production...
New York Times - July 11, 2007
Inquiry Is Over at Bear Stearns
The investment bank Bear Stearns said yesterday that the Securities and Exchange Commission had closed an investigation into the investment bank?s municipal bond offering practices and did not plan to take any action...
New York Times - July 11, 2007
Square Feet: A Bronx Retailing Hub Is Getting Offices, Too
The Bronx has traditionally not experienced heavy development of Class A office space, but that is changing thanks to the expansion of the Hutchinson Metro Center...
New York Times - July 11, 2007
?I Love New York? Campaign, 30 Years Old, Gets Web Push
The ?I Love New York? campaign has finally moved into the digital world...
New York Times - July 11, 2007
Warming Trends: Balmy Weather May Bench a Baseball Staple
In towns like Russell, Pa., the future of the ash tree is in doubt because of a beetle and a warming climate...
New York Times - July 11, 2007
Square Feet: Grand Rapids Lays Foundations for a Health Mecca
Grand Rapids is seeing a boom in medical research, training and patient facility construction that health executives and city officials hope will sustain its culture and economy...
New York Times - July 11, 2007
First Amendment Claim in Cockfight Suit
A company that broadcasts cockfights on the Internet filed suit in federal court in Miami to challenge a federal law that makes it a crime to sell depictions of animal cruelty...
New York Times - July 11, 2007
A New Studio Will Market Short Videos for the Web
Hollywood?s United Talent Agency and the Internet-based advertising agency Spot Runner have started a mini-studio for digital entertainment...
New York Times - July 11, 2007
Digital Music Group Plans to Merge With the Orchard
The merger will give the Orchard a foothold in the online video distribution business, as well as the ability to raise money in the public markets...
New York Times - July 11, 2007
Microsoft Plays Up Family Appeal of Xbox
Microsoft announced a deal to distribute films from the Walt Disney Company on Microsoft?s Xbox Live Internet service and outlined a broader array of games...
New York Times - July 11, 2007
Frenchman Gets Backing for I.M.F. Post
The European Union broadly backed Dominique Strauss-Kahn as the next head of the International Monetary Fund. Yet Britain said the race remained open...
New York Times - July 11, 2007
In Economics Departments, a Growing Will to Debate Fundamental Assumptions
In recent months, economists have engaged in an impassioned debate over the way their specialty is taught at universities and practiced in Washington...
New York Times - July 11, 2007
Lenders Appeal to Democrats on Subsidy Cuts
With the House set to take up legislation that would sharply cut subsidies to student loan companies by about $19 billion, lenders are trying to appeal to Democrats...
New York Times - July 11, 2007
Fed Chairman?s Talk Further Dims Hope for a Rate Cut
The Federal Reserve is not satisfied with the current rate of inflation. And it is apparently not satisfied with the public?s expectations about inflation either...
New York Times - July 11, 2007
Citing Weak Housing Market, Home Depot and Sears Lower Estimates
As sales of home improvement items fall and consumer confidence weakens, retailers are starting to feel the effects of the housing slump...
New York Times - July 11, 2007
China June Trade Surplus Renews Currency Pressure
The politically sensitive Chinese trade surplus surged to a record $26.9 billion in June, potentially heightening tensions with the United States...
New York Times - July 11, 2007
Economix: Can?t Sell Your Home? Maybe It?s Priced Too Low
Even as foreclosures keep rising and overall sales continue to plummet, more expensive homes have staged a bit of a comeback in recent months...
New York Times - July 11, 2007
Advertising: Old Notions Put Aside, Penney Takes Aim at the Heartstrings
J.C. Penney has introduced a series of advertising campaigns that look very little like anything a department store has done before...
New York Times - July 11, 2007
China Quick to Execute Drug Official
The execution was meant to show that Beijing is serious about improving the safety of Chinese products...
New York Times - July 11, 2007
2 Investors Discuss Partial Purchase With Dow Jones Board
Dow Jones & Company board members met with Ronald W. Burkle and Brad Greenspan, who are interested in buying a piece of the company...
New York Times - July 11, 2007
Jury Says It Is at Standstill in the Trial of Conrad Black
Judge Amy J. St. Eve sent the jury back with instructions to keep deliberating the fate of Mr. Black and his former colleagues...
New York Times - July 11, 2007
Mr. Kravis Goes to Washington (Capra Rolls Over)
Private equity managers like Henry R. Kravis are fighting a fierce, uphill lobbying battle over one of the most contentious tax proposals in the last decade...
New York Times - July 11, 2007
Rate Agencies Move Toward Downgrading Some Mortgage Bonds
The move was a tacit acknowledgment that credit rating firms might have been too optimistic about the housing market...
New York Times - July 11, 2007
Accuser Says Web Site Has X-Rated Link
Stickam, a Web site that allows its users, ages 14 and older, to participate in unfiltered video chats, has close ties to an online pornography business, according to a former company vice president...
New York Times - July 11, 2007
'Most expensive' US home on sale
A Beverly Hills mansion is on offer for $165m, making it likely the most expensive US residential property listing...
BBC News - July 11, 2007
Brazil to revive nuclear project
Brazil's president vows to revive a long-stalled project to build the nation's third nuclear reactor and a submarine...
BBC News - July 11, 2007
Mexico rebels claim oil attacks
A little-known leftist rebel group in Mexico says it has carried out recent attacks on oil installations...
BBC News - July 11, 2007
McCain loses 2008 campaign aides
The 2008 White House campaign of John McCain falters as two top aides quit, amid concerns on fundraising...
BBC News - July 11, 2007
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