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US News Archive for July 2007:
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Gap Seen Between Court-Appointed Lawyers and Public Defenders
A study found that lawyers paid by the hour are less qualified and achieve worse results for their clients than those who earn salaries...
New York Times - July 13, 2007
Business Inventories Rise in May
The Commerce Department reported Friday that inventories held by businesses on shelves and backlots rose by 0.5 percent in May...
New York Times - July 13, 2007
[TS] Talking Business: Baseballs, Batteries and Bad Ads
Is it cheating to write a ?grab bag? column in the middle of July, when you?re days away from vacation?...
New York Times - July 13, 2007
Clinton Calls for Ending Tax Break to Financiers
Senator Clinton today called for ending a ?glaring inequity? in tax policy that favors investment managers...
New York Times - July 13, 2007
Senate doubles Bin Laden reward
The US Senate votes to double the reward for the death or capture of Osama Bin Laden to $50m...
BBC News - July 13, 2007
Argentine court overturns pardon
Argentina's Supreme Court revokes a pardon granted to a former general accused of human rights abuses...
BBC News - July 13, 2007
Palestinian Emergency Cabinet Transfers Power
The maneuvering was required because the emergency cabinet could last for only 30 days without ratification...
New York Times - July 13, 2007
American Brothers Gored in Bull Run in San Fermin Festival
Two American brothers were recovering on Friday from their serious injuries after they were gored during the bloodiest day yet at the San Fermin festival in the northeastern city of Pamplona...
New York Times - July 13, 2007
World Business Briefing:Asia: India: Growth of Output Slows
India?s industrial production growth slowed for a second month in May as the highest interest rates in five years crimped demand and currency gains weakened exports. Output at factories, utilities and mines rose 11.1 percent from the period a year earlier, after a revised 12.4 percent increase in April, the Central Statistical Organization said. Economists were expecting a 12 percent gain. Manufacturing output rose 11.9 percent in May from a year earlier, the slowest pace in four months. Mining gained 3.7 percent...
New York Times - July 13, 2007
World Business Briefing:Asia: France: Sales Rise at L?oréal
L?Oréal, the cosmetics maker, said second-quarter sales rose 10 percent on gains in Eastern Europe and Asia and a recovery in North America. Sales rose to 4.25 billion euros ($5.85 billion) from 3.85 billion euros a year earlier. L?Oréal, based in Paris, has expanded in emerging markets from Russia to Brazil to stoke growth as customers in those countries spend more money on cosmetics products. ?Our most dynamic category was skin care,which has a lot of added value,? the chief executive, Jean-Paul Agon, above, said on a conference call...
New York Times - July 13, 2007
World Business Briefing:Asia: Japan: Benchmark Rate Unchanged
Japan?s central bank left its benchmark interest rate unchanged at 0.5 percent, saying it wanted to wait until after this month?s elections to reassess the economy. The decision matched expectations of analysts who predicted that the Bank of Japan did not want to risk rattling markets or the public by tightening credit before the July 29 parliamentary polls. The bank?s governing board voted 8-to-1 on the decision, which came at the end of a two-day policy meeting, increasing the chance that the central bank will raise rates in August. The bank lasst raised its benchmark interest rate in February, when it lifted it from 0.25 percent...
New York Times - July 13, 2007
World Business Briefing: Asia: South Korea: Interest Rate Is Raised
The Bank of Korea raised its benchmark interest rate for the first time in nearly a year amid fears that bank lending to smaller businesses, stronger economic growth and higher oil prices could stoke inflation. The central bank said it had raised its overnight call rate target for loans to commercial banks to 4.75 percent from 4.5 percent. It was the first increase since one of similar size in August...
New York Times - July 13, 2007
Energizer Holdings Agrees to Buy Playtex Products for $1.2 Billion
Energizer Holdings, the battery maker, will acquire Playtex Products for $18.30 a share...
New York Times - July 13, 2007
The Churn: People in the News
People...
New York Times - July 13, 2007
General Electric to Sell WMC Mortgage, a Subprime Loan Unit
General Electric is getting out of the subprime mortgage market by selling WMC Mortgage, the company announced on Thursday...
New York Times - July 13, 2007
For 2 Children, Ban of a Drug Came Too Late
China?s recent crackdown on unsafe pharmaceuticals came too late for some victims, like Du Haipeng and Liu Sichen, who were treated with a contaminated drug...
New York Times - July 13, 2007
Tougher Safety Rules Are Prepared for Imports
The proposed rules are in response to the outcry over dangerous imports from China and other unsafe products...
New York Times - July 13, 2007
GE Reports Second-Quarter Profit of $5.4 Billion
HARTFORD, Conn. (AP) -- General Electric Co., the industrial, finance and media conglomerate, reported Friday its second-quarter profit rose 9.6 percent and said it was getting out of the U.S. mortgage business...
New York Times - July 13, 2007
Samsung Profit Dips, but Shares Surge
Samsung said Friday that second-quarter net profit fell 5 percent from a year ago on price declines for its mainstay computer memory chips, but expressed confidence a rebound in the market would bolster earnings...
New York Times - July 13, 2007
July Consumer Sentiment Jumps to 6-Month High
Consumer sentiment climbed far more than expected in early July due to a surging stock market and reluctant acceptance of high gasoline prices, a survey showed on Friday...
New York Times - July 13, 2007
Retail Sales Show Biggest Drop in Nearly 2 Years
WASHINGTON (AP) -- Consumers put away their wallets in June, sending retail sales crashing by the sharpest amount in nearly two years...
New York Times - July 13, 2007
Stocks Rise Following Rally; Nasdaq Lags
Wall Street tried to hold onto its gains Friday as stocks opened flat a day after the Standard & Poor?s 500 index and the Dow Jones industrials soared to new records...
New York Times - July 13, 2007
Conrad Black Found Guilty in Fraud Trial
The former press tycoon Conrad M. Black was found guilty by a Chicago jury of three counts of mail fraud and one count of obstruction of justice. He could face up to 35 years in prison...
New York Times - July 13, 2007
Ruling Helps Barclays in ABN Bid
The Dutch Supreme Court overturned a ruling that had blocked ABN Amro from selling its United States subsidiary, LaSalle Bank in Chicago, to Bank of America...
New York Times - July 13, 2007
Last US state bans cockfighting
Louisiana moves to ban cockfighting, the last state in the US to allow the practice...
BBC News - July 13, 2007
Brazil orders Berezovsky arrest
A Brazilian judge orders the arrest of Russian tycoon Boris Berezovsky over allegations of football money-laundering...
BBC News - July 13, 2007
TB man faces passenger lawsuit
A US TB patient who sparked a health scare by flying while ill is to be sued by fellow passengers who say he put them at risk...
BBC News - July 13, 2007
NY Times reporter killed in Iraq
A New York Times reporter is shot dead in Baghdad, the day after two Reuters employees were killed...
BBC News - July 13, 2007
Indians Widen Old Outlet in Youth Lacrosse
American Indians are reasserting their heritage through a game invented by their ancestors...
New York Times - July 13, 2007
A Chinese Food and Drug Official Betrays His Cause, and Pays
The Chinese regulator who was executed Tuesday was corrupted by the system he sought to change...
New York Times - July 13, 2007
GE to sell its sub-prime business
General Electric says it is selling its WMC Mortgage sub-prime lending business that it bought in 2004...
BBC News - July 13, 2007
Sony BMG sues anti-piracy firm
Sony BMG is suing the company that designed its controversial CD anti-piracy software...
BBC News - July 13, 2007
Universal cleared over race bias
Film studio Universal Pictures did not sack a black assistant director because of his race, a judge rules...
BBC News - July 13, 2007
Walgreens to settle race lawsuit
Walgreens, the largest US pharmacy chain, agrees to pay $20m in a discrimination suit brought by black workers...
BBC News - July 13, 2007
Panel Edges Closer to Holding Miers in Contempt
The former White House counsel, Harriet E. Miers, defied a subpoena to appear at a House panel hearing on the firing of eight federal prosecutors...
New York Times - July 13, 2007
Ex-Mayor of Newark Indicted in Corruption Case
Sharpe James was indicted for misusing city credit cards and for his involvement in a real estate deal...
New York Times - July 13, 2007
Nominee for Surgeon General Testifies in Senate
The nominee, Dr. James W. Holsinger Jr., said he would resign if asked to put politics over science on an important issue...
New York Times - July 13, 2007
Indian Tribes Rediscovering Lacrosse
American Indians are reconnecting to their heritage through a game that was invented by their ancestors...
New York Times - July 13, 2007
Democrats Take the Lead in Raising Money Online
The Democrats? growing dominance in securing contributions online is reshaping the 2008 elections...
New York Times - July 13, 2007
Stores Post Modest Sales in June
NEW YORK (AP) -- Consumers were eager to buy iPhones and flat-screen TVs in June, but their reluctance to purchase clothing and other non-essentials has retailers worried about the success of the back-to-school shopping season...
New York Times - July 13, 2007
Volkswagen Says Car Sales Increased 7.8% in First Half of Year
Demand for Volkswagen and Audi vehicles helped VW sell more than three million cars in the first two quarters of this year...
New York Times - July 13, 2007
Judge Mostly Clears Block
A New York state judge dismissed most of a lawsuit accusing H&R Block of charging excessive fees on individual retirement accounts...
New York Times - July 13, 2007
The Media Equation: Business Casual
Allen & Company?s annual summit, being held this week in Sun Valley, Idaho, brings together some of media and entertainment?s biggest moguls...
New York Times - July 13, 2007
Advertising: Promotion Is Not Just Another Brick in the Wall
As part of it marketing campaign for its new Creative Suite 3, Adobe will unveil an interactive wall of projected animation in Manhattan...
New York Times - July 13, 2007
Marriott?s Profit Exceeds Forecast
Marriott International said its second-quarter profits rose a better-than-expected 11 percent, but shares were down on concerns about slowing growth...
New York Times - July 13, 2007
Fitch May Downgrade Bonds Tied to Subprime Mortgages
Fitch Ratings said it might downgrade bonds valued at $7.1 billion due to rising delinquencies and defaults on subprime mortgages...
New York Times - July 13, 2007
Manufacturer of Chemicals Agrees to Bid From Apollo
Huntsman Corporation agreed to a $6.5 billion buyout offer from Apollo Management, terminating an earlier deal with Dutch manufacturer Basell...
New York Times - July 13, 2007
A Voice of Developing Nations Asks the West for Compromise on Trade
Taking a hard line in W.T.O. talks, Kamal Nath, India?s minister of commerce and industry, is pushing for big cuts in Western farm subsidies...
New York Times - July 13, 2007
Retail Sales Are Better Than Analysts Expected
Sales at 50 major U.S. retailers, including Wal-Mart, rose a combined 2.4 percent in June, beating expectations, but growth remained lower than in 2006...
New York Times - July 13, 2007
French Oil Giant Agrees to Work on a Russian Natural Gas Project
Total will develop one of the world?s largest natural gas deposits offshore in the Arctic with Russia?s gas giant Gazprom, despite the risk of nationalization...
New York Times - July 13, 2007
Chief of Whole Foods Extolled His Stock Online
The legality of online postings made using a pseudonym by Whole Foods chief John P. Mackey is being questioned...
New York Times - July 13, 2007
Building a Portfolio With Things, Not Paper
As investors search for ways to diversify risk, hedge funds have expanded investments beyond stocks and bonds into art, wine, rare stamps and even soccer players...
New York Times - July 13, 2007
Suit in U.S. Over Murders in Colombia
An Alabama-based coal company is facing a civil suit over the 2001 murders of three Colombian union leaders who worked for one of the company?s mines...
New York Times - July 13, 2007
Chief Executive Steps Down at Jones Apparel
Peter Boneparth, C.E.O. of Jones Apparel, which owns brands like Anne Klein and Nine West, stepped down after disagreements with directors over the company?s future...
New York Times - July 13, 2007
Trade Deficit Rose in May, but the Pace Was Slower
The U.S. trade deficit grew 2.3 percent in May, pushed up by higher oil prices, but the year-to-date gap remains lower than in 2006...
New York Times - July 13, 2007
Create-an-Ad Contest Aims to Push Climate Message
Al Gore is launching a competition, open to all, for a high profile advertising campaign on climate change...
New York Times - July 13, 2007
Low-Cost Chinese Cars Making Restrained Entry to European Market
Aided by a weak dollar, China is quietly entering the European auto market in the first test of rich markets by Chinese automakers...
New York Times - July 13, 2007
Tax Loopholes Sweeten a Deal for Blackstone
As Congress debates taxes on hedge funds and private equity firms, Blackstone has devised a way for its partners to avoid paying taxes on $3.7 billion...
New York Times - July 13, 2007
Alcan Gets $38 Billion Takeover Bid
The $101-a-share Rio Tinto bid represents a 32.8 percent premium to Alcoa?s hostile offer of $76.03 a share, potentially making it difficult for Alcoa to increase its bid...
New York Times - July 13, 2007
A Chinese Reformer Betrays His Cause, and Pays
The Chinese regulator who was executed Tuesday was ultimately corrupted by the system he sought to change...
New York Times - July 13, 2007
F1: US dropped from calendar
Bernie Ecclestone confirms the 2008 Formula One schedule will not contain a US Grand Prix...
BBC News - July 13, 2007
Rio Tinto makes $38.1bn Alcan bid
Anglo-Australian mining group Rio Tinto agrees to buy Canada's Alcan for $38.1bn as US firm Alcoa pulls out of the race...
BBC News - July 13, 2007
Walgreen to settle race lawsuit
Walgreen, the largest US pharmacy chain, agrees to pay $20m in a discrimination suit brought by black workers...
BBC News - July 13, 2007
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