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US News Archive for June 2007:
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U.S. Open: Mickelson Tumbles and May Miss the Cut
Despite his quick start to the second round at the U.S. Open, Phil Mickelson lost his game on the difficult Oakmont course and is now in danger of an early exit...
New York Times - June 15, 2007
Senate Leaders Agree to Revive Immigration Bill
Senator Harry Reid said Democrats would sacrifice their Fourth of July break, if necessary, to pass the suddenly revived immigration bill...
New York Times - June 15, 2007
Duke Case Prosecutor Says He Will Resign
Michael B. Nifong's announcement came after admitting that he had ?crossed the line? of ethical standards in some of the public statements he made...
New York Times - June 15, 2007
Penn National to Be Acquired in $8.9 Billion Deal
The casino operator will be purchased by publicly traded investment company Fortress Investment Group and private equity firm Centerbridge Partners in an all-cash transaction...
New York Times - June 15, 2007
Your Money: With a Few Exceptions, the Advice Remains: Don?t Touch That Nest Egg
Most Americans have enough difficulty building up a nest egg, and cracking it prematurely could mean living on cat food (slang for Social Security) later...
New York Times - June 15, 2007
Oil widens US trade imbalances
The US trade deficit widened in the first three months of 2007, official data shows, following higher oil prices...
BBC News - June 15, 2007
Supply fears push up oil prices
Oil prices rise above $71 a barrel as fears intensify over Mid-East instability and insufficient supply in the US...
BBC News - June 15, 2007
US rape case prosecutor to resign
The US prosecutor in a high-profile case where three lacrosse players were cleared of rape says he will resign...
BBC News - June 15, 2007
S America urges Fifa to lift ban
South American football nations ask Fifa to suspend its ban on international games at high altitude...
BBC News - June 15, 2007
Going to Court Over Fiction by a Fictitious Writer
Laura Albert, who wrote novels under the fictive alter ego JT Leroy, is being sued by a film production company...
New York Times - June 15, 2007
Sunni Mosque Is Destroyed in Retaliation
The attack signaled that the cycle of violence following the destruction a Shiite shrine has not entirely unfolded...
New York Times - June 15, 2007
Problems With Space Station?s Computers Persist
NASA officials said that they fully expected engineers to resolve the problems, but that it could take days...
New York Times - June 15, 2007
Duke Player Testifies in Hearing on Prosecutor
The hearing is to determine if the prosecutor, Michael B. Nifong, violated ethics standards in pursuing the case...
New York Times - June 15, 2007
Fuel Prices Aside, Inflation Is Tame
A leap in gasoline prices pushed the overall rate of inflation higher last month, but consumer prices nationwide generally appear to be increasing at a consistently slower rate...
New York Times - June 15, 2007
Colgate toothpaste in US recall
The US warns consumers to avoid using counterfeit toothpaste made in China as it contains poisonous additives...
BBC News - June 15, 2007
Clintons sell off stock holdings
Bill and Hillary Clinton sell their blind trust stocks to avoid any problems for Mrs Clinton's presidency bid, aides say...
BBC News - June 15, 2007
With Sweep of Cavs, Spurs Are Champions Again
Finals M.V.P. Tony Parker scored 24 points, as the Spurs won their fourth championship since 1999...
New York Times - June 15, 2007
To Avoid Any Conflict, Clintons Liquidate Holdings
Bill and Hillary Rodham Clinton liquidated a trust valued at $5 million to $25 million, leaving the proceeds in cash...
New York Times - June 15, 2007
New Jersey, Trying to Save, Drove Up Pension Costs
Generous early retirement benefits have undermined the state?s ability to meet its pension obligations, experts say...
New York Times - June 15, 2007
To Dismay of Some in Florida, Legislators Cut Property Taxes
Addressing rising anger about the cost of owning a home in Florida, the Legislature approved a plan for a property tax cut it said would be the largest in state history...
New York Times - June 15, 2007
Rising Rates Squeeze Consumers and Companies
The fallout from rising yields on the 10-year Treasury note is likely to be felt most immediately by homeowners and people looking to buy a house...
New York Times - June 15, 2007
Postage costs Amazon $600m
Online retailer Amazon says a free postage offer for US customers is costing it $600m a year in lost revenue...
BBC News - June 15, 2007
US eyes private equity tax change
Two US senators have proposed a sharp rise in the tax that private equity firms have to pay...
BBC News - June 15, 2007
NBA: Spurs sweep Finals
San Antonio beat Cleveland 83-82 to clinch their fourth NBA title in nine seasons...
BBC News - June 15, 2007
US diet pill 'suicide risk' fears
A weight loss drug used widely in the UK is rejected by US safety officials over fears of an increased suicide risk...
BBC News - June 15, 2007
South America debates Fifa's ban
South American football nations meet to discuss their response to Fifa's ban on international games at high altitude...
BBC News - June 15, 2007
Report Details Deals in Student Loan Industry
A Senate report showed that gifts and payoffs to universities and their officials by student lenders were far more pervasive than had been disclosed...
New York Times - June 15, 2007
Massachusetts Gay Marriage to Remain Legal
Same-sex marriage will remain legal in Massachusetts, as its proponents won a pitched months-long battle...
New York Times - June 15, 2007
Senators Agree to Revive Immigration Bill
Senate Democratic and Republican leaders said they expected the bill to return to the floor before their recess...
New York Times - June 15, 2007
Libby Is Seen as Weeks From Prison
A judge issued a final ruling that I. Lewis Libby Jr. would have to begin serving his 30-month prison sentence shortly, even before his appeals were exhausted...
New York Times - June 15, 2007
New Jersey, Effort Save on Pensions Drove Up Costs
New Jersey says it will have to set aside $617 million to finance early retirement packages for public employees that were originally seen as a way to cut costs...
New York Times - June 15, 2007
Earsplitting Symphony, With the Maestro in Blue
New York City police officers have a menu of sirens available, each designed to make a specific impression...
New York Times - June 15, 2007
Lineman, Dead at 36, Exposes Brain Injuries
Justin Strzelczyk?s brain damage adds to the evidence that longtime football players might endure hidden brain trauma...
New York Times - June 15, 2007
To Avoid Conflicts, Clintons Liquidate Holdings
Bill and Hillary Rodham Clinton will leave the holdings - valued at $5 million to $25 million - in cash...
New York Times - June 15, 2007
World Business Briefing: Switzerland: Central Bank Raises Rate
The Swiss National Bank raised its key interest rate by a quarter of a percentage point and raised its economic growth forecast for the year. Switzerland?s central bank said it decided at its quarterly policy-setting meeting to raise rates to 2.50 percent from the previous 2.25 percent. The increase, expected by analysts, was the ninth successive increase in recent years and puts the rate at its highest level since 2001. The move mirrors a decision last week by the European Central Bank, which raised its key interest rate from 3.75 percent to 4 percent. The Swiss central bank also raised its expectations for growth in gross domestic product this year to 2.5 percent from 2 percent...
New York Times - June 15, 2007
The Churn: People
People...
New York Times - June 15, 2007
World Business Briefing: Britain: Tool Rental Company Buys a Rival
Speedy Hire, a British tool-rental company, agreed to buy Finning International?s Hewden Tools business for £115 million ($227 million) to add branches and expand its range of drills, scaffolding and generators. Speedy, based in Newton-le-Willows, northwest England, will pay cash for the operation, part of the Hewden Stuart subsidiary of Finning, which is based in Vancouver, British Columbia. The purchase will increase Speedy Hire?s annual revenue by at least 20 percent, to more than £400 million, the chief executive, Steve J. Corcoran, said on a conference call...
New York Times - June 15, 2007
World Business Briefing: China: Strong Rate of Growth Persists
China?s government reported industrial production growth unexpectedly accelerated in May, hours after Prime Minister Wen Jiabao, left, said further steps were needed to cool the country?s economy. Output rose 18.1 percent in May from a year earlier, the National Bureau of Statistics said, after gaining 17.4 percent in April. Mr. Wen said Wednesday that monetary policy needed ?moderate tightening,? underscoring the failure of two interest rate increases this year to slow the economy. Record trade surpluses have pumped money into the financial system, stoking investment, inflation and a stock market boom. For the first five months, industrial production climbed 18.1 percent from the period last year, up from 16.6 percent growth for all of 2006...
New York Times - June 15, 2007
Drug Maker Ending 2 Years of Probation
A two-year probation for Bristol-Myers Squibb ends Thursday, freeing the company from federal supervision after a major accounting scandal and other misconduct...
New York Times - June 15, 2007
Suitor for Midwest Air Wins Board Seats
Shareholders of the Midwest Air Group elected three directors backed by a hostile suitor, AirTran Holdings, increasing pressure on Midwest?s board to consider AirTran?s $389 million takeover offer for the airline...
New York Times - June 15, 2007
World Business Briefing: Russia: Economy Expanded in Quarter
Russia?s economy expanded in the first quarter at the fastest pace in six years as production of building materials increased to keep pace with a construction boom and consumer demand remained strong. Gross domestic product rose at an annual rate of 7.9 percent in the period, compared with 5 percent in the first quarter of 2006, the Federal Statistics Service said. The figure is not seasonally adjusted. Industrial output increased 7.9 percent in the first quarter of the year, compared with 4.1 percent in the period last year, according to the Federal Statistics Service...
New York Times - June 15, 2007
Driver Not Included in This Performance Test
A team of Stanford University engineers unveiled its next-generation vehicle that will maneuver in traffic without a human driver...
New York Times - June 15, 2007
Guilty Plea Entered in Tax Shelter Case
A former employee of the accounting firm Ernst & Young pleaded guilty to conspiracy to commit tax fraud, a month after similar charges were filed against four current and former employees of the firm...
New York Times - June 15, 2007
Chicago Mercantile Exchange Raises Bid
Chicago Mercantile Exchange Holdings raised its bid for CBOT Holdings, parent of the Chicago Board of Trade, for the second time in five weeks, adding a $485 million dividend to its earlier $10.19 billion proposal...
New York Times - June 15, 2007
Freddie Mac Reports Another Quarterly Loss
Rising interest rates hurt the value of hedges it holds to protect profits on its mortgage portfolio...
New York Times - June 15, 2007
Settlement Sought With Interpublic
The Interpublic Group of Companies said it had received a letter from federal regulators in a continuing investigation into earnings restatements by the company...
New York Times - June 15, 2007
Stocks & Bonds: Wall Street Rises on Tame Inflation Data
The market rallied after the government reported wholesale price figures that remained muted, and quieted fears that the Federal Reserve might raise interest rates...
New York Times - June 15, 2007
V.C. Nation: In the Venture Capital World, a Helping Hand for Women and Minorities
Technology investors have done a poor job of integrating African-Americans, Hispanics and particularly minority women into their ranks...
New York Times - June 15, 2007
Advertising: MySpace Mini-Episodes, Courtesy of Honda
Honda, plans to run smaller commercials for a smaller car in smaller versions of television series...
New York Times - June 15, 2007
2 Lawyers Sued by S.E.C. In Penny Stock Fraud Case
The two lawyers are charged with having played important roles in a penny stock fraud that cost investors at least $160,000 in 2005...
New York Times - June 15, 2007
A Man Would Lose His Land While Another Would Benefit
Many here praise Mike Keiser because his golf resort created 325 full-time jobs. But Scott Cook says Mr. Keiser is going too far...
New York Times - June 15, 2007
Indian Tycoon Considers Buying Airline Stake
Vijay Mallya is pursuing another takeover deal, soon after buying a stake in a rival airline, as well as a Scottish liquor company...
New York Times - June 15, 2007
Thomas the Tank Engine Toys Recalled Because of Lead Paint
The RC2 Corporation pulled the toys after learning that the red and yellow paint used to decorate more than 1.5 million of the toys contained lead...
New York Times - June 15, 2007
Wall St. Firms Hurt by the Subprime Lending Fallout
Goldman Sachs reported that profits were flat from a year ago, as the weak mortgage market helped drive down fixed-income revenues...
New York Times - June 15, 2007
Chinese in Talks to Send Pickups to Mexico
A small Chinese automaker and its New Jersey partner are negotiating with Mexican officials to import Chinese-made pickup trucks and sport utility vehicles...
New York Times - June 15, 2007
India?s Economic Boom Transforms Stock Trading Into a National Pastime
Indian indexes have hit new highs, drawing in foreign investors and Wall Street banks...
New York Times - June 15, 2007
Gasoline Pushed Up Producer Prices in May
Tame increases for other goods suggested that price increases were largely contained and businesses would not react by raising prices...
New York Times - June 15, 2007
Assisting the Good Life
A golf resort in Oregon benefits from a variety of subsidies, the kind of indirect favors that influence the flow of money from public to private interests...
New York Times - June 15, 2007
Boom Times for Banks in Venezuela
President Hugo Chávez?s economic policies have been generating a boom for those most capitalist of institutions ? Venezuela?s banks...
New York Times - June 15, 2007
More Trouble in Subprime Mortgages
Delinquencies and foreclosures among homeowners with weak credit moved higher in the first quarter...
New York Times - June 15, 2007
Family Seeks Assurances on Protecting Dow Integrity
The Bancroft family has rejected a proposed plan asking them instead to seek stronger guarantees of editorial independence as a condition of selling Dow Jones...
New York Times - June 15, 2007
Go Public, and Face Higher Taxes
New legislation could increase taxes on publicly traded private equity firms and hedge funds, a move that could dampen interest in the Blackstone Group...
New York Times - June 15, 2007
Rising Rates Start to Squeeze Consumers and Companies
The fallout from rising yields on the 10-year Treasury note may be felt most immediately by homeowners...
New York Times - June 15, 2007
Oil price tips over $70 a barrel
Oil prices climb a dollar to tip beyond $70 a barrel in London as fears over supplies increase...
BBC News - June 15, 2007
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