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US News Archive for May 2007:
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$11.45 Million Awarded in N.Y. Church Abuse Case
A jury in State Supreme Court made the award to two people who said they were abused by a youth minister...
New York Times - May 18, 2007
?E-stonia? Accuses Russia of Computer Attacks
Estonian officials are declaring that their country is the first to fall victim to cyberwarfare...
New York Times - May 18, 2007
Russian Police Detain Opposition Leaders
A dozen opposition leaders and journalists were detained today, preventing them from flying to a provincial city to take part in anti-Kremlin protests...
New York Times - May 18, 2007
Iran denies access to US scholar
Iranian Nobel laureate Shirin Ebadi says Iran's judiciary is preventing her from representing a US-Iranian academic detained in Tehran...
BBC News - May 18, 2007
Northwest leaves bankruptcy
Northwest Airlines says it will emerge from Chapter 11 bankruptcy protection at the end of this month...
BBC News - May 18, 2007
US deadlock over Iraq war funds
Talks between Democrats and the White House fail to break the deadlock over a contentious Iraq war funding bill...
BBC News - May 18, 2007
President vows to free Betancourt
Colombia's president orders the army to step up efforts to rescue high-profile rebel hostage Ingrid Betancourt...
BBC News - May 18, 2007
Mosque Bombing Kills Seven in India
A crude bomb exploded during Friday prayers at a 17th-century mosque in Hyderabad, a major city in southern India...
New York Times - May 18, 2007
Wolfowitz Resigns, Ending Long Fight at World Bank
Paul D. Wolfowitz?s resignation, effective June 30, ended weeks of furor over charges of favoritism that blew up into a global fight over U.S. leadership...
New York Times - May 18, 2007
China Will Allow Its Currency to Fluctuate More
The central bank, trying to cool the economy, also raised interest rates and required banks to put aside more assets...
New York Times - May 18, 2007
Microsoft to Buy Online Ad Company
The plan to purchase aQuantive for $6 billion, at an 85 percent premium, comes after acquisitions of other firms by WPP Group, Google and Yahoo...
New York Times - May 18, 2007
Paris Hilton drops prison appeal
Paris Hilton has dropped her appeal against a jail sentence, according to court documents...
BBC News - May 18, 2007
Two deputies killed, one hurt hours after memorial
A gunman shot and killed two deputies and wounded another before he was shot, hours after the officers took part in a memorial to honor peace officers slain in the line of duty, authorities said. The Henderson County sheriff's deputies were shot while responding to a domestic disturbance near Payne Springs, Texas...
CNN - May 18, 2007
Israel launches new strikes against Hamas
Israel launched another round of airstrikes against a militant target in Gaza early Friday -- a day after the Israeli military began targeting Hamas in retaliation for dozens of Qassam rockets fired from Gaza into Israel over the last five days, the Israel Defense Forces said...
CNN - May 18, 2007
Senators in Bipartisan Deal on Immigration Bill
The bill would offer legal status to most of the nation?s 12 million illegal immigrants while toughening border security...
New York Times - May 18, 2007
GE 'close to plastics unit sale'
Reports say General Electric is close to selling its plastics unit to Saudi Basic Industries for about $11bn...
BBC News - May 18, 2007
EMI 'opens its books to suitors'
UK music group EMI has opened its books to a number of suitors, including rival Warner, a report says...
BBC News - May 18, 2007
Israel launches Gaza airstrikes
Israel retaliated Thursday against two days of Hamas rocket attacks by launching airstrikes on Hamas targets in Gaza, killing two people and leaving more than 30 wounded, Palestinian security sources and an Israeli security source told CNN...
CNN - May 18, 2007
Senate Democrats Plan a Resolution on Gonzales
Senate Democrats arranged to hold a no-confidence vote on Attorney General Alberto R. Gonzales...
New York Times - May 18, 2007
White House Memo: Unlikely Comrades Share Parting Moment
Prime Minister Tony Blair of Britain and President Bush stood together in the bright sunshine for their last joint appearance in the White House Rose Garden...
New York Times - May 18, 2007
Michelle Obama Adds New Role to Balancing Act
A woman who has said she dislikes politics is assuming a starring role in her husband?s presidential campaign...
New York Times - May 18, 2007
Life Resettles for Survivors of Bronx Fire
The routine of ordinary life in a Bronx home is a stark counterpoint to the fiery catastrophe that hit a family...
New York Times - May 18, 2007
Senators in Bipartisan Deal on Immigration Bill
The bill would offer legal status to most of the nation?s 12 million illegal immigrants while toughening border security...
New York Times - May 18, 2007
The Churn: People
People...
New York Times - May 18, 2007
World Business Briefing: Canada: Bank of Montreal Revises Trade Loss
Bank of Montreal, stung by a huge loss from natural gas trading, said the debacle would cost at least 50 percent more than originally forecast and started an investigation into potential irregularities. Bank of Montreal said it would record pretax losses of 680 million Canadian dollars ($618 million) from the trades, compared with an April 27 forecast of 350 million to 450 million Canadian dollars. Two New York-based bankers involved in the trades have left the firm. The bank said the losses were bigger than it originally forecast after it adopted a different pricing model to better assess the value of its natural gas options contracts. The revision also reflects ?increased concerns? about the reliability of quotes from its main broker...
New York Times - May 18, 2007
World Business Briefing: Mexico: Economic Growth Rate Slips in Quarter
Mexico?s economy grew in the first quarter at its slowest rate in more than a year as construction fell and automobile output declined on slumping demand in the United States. Gross domestic product grew 2.6 percent from a year earlier, the government reported. A growth rate of less than 3 percent suggests Mexico is failing to reduce dependence on exports to the United States, the destination for about 80 percent of the country?s sales abroad. Last year?s 4.8 percent growth, Mexico?s fastest in six years, was driven by strong United States demand, while the weakening economy last quarter similarly tracked the United States slowdown...
New York Times - May 18, 2007
World Business Briefing: Britain: Emap Surges After Executive Resigns
Shares in Emap, a British magazine and radio company, jumped on speculation of a private equity interest after the company announced the resignation of its chief executive. Emap said that the executive, Tom Moloney, was leaving after four years by mutual agreement, and that the nonexecutive chairman, Alun Cathcart, had been appointed interim executive chairman until a permanent successor is appointed. Analysts have criticized Emap in recent years as the company, which publishes FHM, Zoo and Grazia magazines, has tried to raise revenue in a weak advertising market. Mr. Moloney conceded last year that Zoo was losing ground to a rival and that the men?s magazine market appeared increasingly close to saturation...
New York Times - May 18, 2007
World Business Briefing: Qantas Chairwoman Decides to Retire
Margaret A. Jackson, the chairwoman of Qantas Airways, who was one of the proponents of a failed attempt to take the airline private, will retire, a company spokesman said. Ms. Jackson, 54, told the board that she would not seek re-election at the airline?s annual meeting in October, said Simon Rushton, a spokesman for Qantas. The buyout attempt, led by the Macquarie Bank and TPG, collapsed two weeks ago when investors rejected a cash offer of 5.45 Australian dollars a share as too low. The buyout group says it will not make another bid. Ms. Jackson joined the board in July 1992 and was appointed chairwoman in August 2000...
New York Times - May 18, 2007
Calls to Remove CVS/Caremark Director
An investment advisory firm is calling the removal of Roger L. Headrick, amid concern that his re-election to the board was aided by ?phantom votes.?...
New York Times - May 18, 2007
Louisiana: Wage Laws Cover Foreign Workers, Judge Says
Foreign workers brought into the United States by companies facing labor shortages are covered by federal minimum wage laws, a judge in New Orleans ruled May 15. In what he said appeared to be the first federal ruling on this issue, which could affect thousands of workers nationwide, the judge, Eldon E. Fallon of Federal District Court, found that workers hired by Decatur Hotels in New Orleans had the right to sue their employer under the Fair Labor Standards Act. The workers are seeking to be reimbursed for thousands of dollars in travel and other costs to get the hotel jobs, arguing that the company?s failure to do so left them working for less than minimum wage...
New York Times - May 18, 2007
Ex-Ahold Official Sentenced
Mark P. Kaiser was sentenced to seven years in prison for his role in an $800 million accounting fraud...
New York Times - May 18, 2007
BP-Rio Tinto Venture
The joint venture will develop power generation plants that will pump their carbon dioxide emissions underground to help curb global warming...
New York Times - May 18, 2007
Russia Sues U.S. Bank; Laundering Case Cited
Russia is seeking $22.5 billion in damages from the Bank of New York Company over accusations of money laundering in the 1990s...
New York Times - May 18, 2007
U.S. Regulators Approve iPhone for Sale
The approval paves the way for the device to be sold by the wireless unit of AT&T in late June...
New York Times - May 18, 2007
Deal in Card Services
Alliance Data Systems said it was being acquired by the private equity firm Blackstone Group in a deal valued at $6.43 billion...
New York Times - May 18, 2007
G.M.?s Advertising Chief to Step Down
General Motors said its North American marketing and advertising chief, Mike Jackson, would leave the company June 15...
New York Times - May 18, 2007
Treasury Chief Proposes Panel to Bolster Auditing Practices
Henry M. Paulson Jr. introduced proposals for making the nation?s capital markets more competitive by strengthening financial reporting and auditing procedures...
New York Times - May 18, 2007
Stocks & Bonds: Shares Slip as Hopes for Rate Cuts Fade
An upbeat report on business conditions in the mid-Atlantic region, coupled with data suggesting strength in the job market, signaled a reduced chance of interest rate cuts by the Federal Reserve...
New York Times - May 18, 2007
Conference Board?s Outlook Points to a Summer Slowdown
A gauge of future economic activity forecasts that the nation?s economy will slow in coming months, reversing recent gains...
New York Times - May 18, 2007
3 Department Store Chains Exceed Estimates
J. C. Penney, Kohl?s and Nordstrom reported first-quarter profits that surpassed estimates and they increased their full-year earnings forecasts...
New York Times - May 18, 2007
Financier Says He Is Not Target of Swiss Arms Investigation
A Syrian-born financier who helped broker an arms contract between BAE Systems and Saudi Arabia said he was not a target of a money-laundering investigation...
New York Times - May 18, 2007
Citigroup Works Both Sides of Distiller Deal
Citigroup played a leading role on both sides of a recent deal between Whyte & Mackay and United Spirits...
New York Times - May 18, 2007
Union Plans Advisory Tool for Young Workers
Helped by start-up money from the Rockefeller Foundation, the Service Employees International Union has created a nonprofit organization that plans to help young workers who lack health insurance and are saddled with debt...
New York Times - May 18, 2007
In Search for a New Sheriff, One Stands Out
With Eliot Spitzer now in the governor?s mansion, is there another state regulator trying to take up his badge?...
New York Times - May 18, 2007
In Game of Games, Wii Outshoots PlayStation
The sales gap between the Nintendo Wii and Sony?s competing PlayStation 3 widened during April...
New York Times - May 18, 2007
Turnaround Effort Is Challenging at Airbus, a Stew of European Cultures
For the chief of Airbus, healing the multinational rifts that led to the A380 jet delay is a challenge he did not fully anticipate...
New York Times - May 18, 2007
Publisher and Authors Parse a Term: Out of Print
Simon & Schuster is proposing a change in the way it defines when a book is out of print...
New York Times - May 18, 2007
Advertising: Ads That Are Too Fast for a Fast-Forward Button
The CW network will offer advertisers more ways to try holding the attention of viewers throughout commercial breaks...
New York Times - May 18, 2007
What?s Happened to the Lawyers Who Worked for Spitzer?
For the lawyers who worked under Eliot Spitzer in the New York attorney general?s office, the options have ranged from law firm partnerships to state agency heads...
New York Times - May 18, 2007
WPP Group to Acquire Online Ad Company
The advertising holding company will pay about $649 million to buy 24/7 Real Media...
New York Times - May 18, 2007
[TS] High & Low Finance: A Fired Boss Seeks His Revenge
If a chief executive is fired, should his fellow shareholders let him pick new directors to replace those who ousted him?...
New York Times - May 18, 2007
In Deal for Chrysler, Snow?s Role Extends a Trend
John W. Snow, former Treasury secretary, is one of the latest politicians hired by private equity for their government connections and skills...
New York Times - May 18, 2007
Auditing Rule Is Put at Risk By Texas Bill
Texas lawmakers are on the verge of rejecting a requirement that state and local governments disclose the cost of the health care they have promised to retired employees...
New York Times - May 18, 2007
Fed Chief Addresses Foreclosures
Ben S. Bernanke said problems in the subprime market were unlikely to have a major effect on the economy...
New York Times - May 18, 2007
An Export Boom Suddenly Facing a Quality Crisis
China is facing international pressure to prove that its food exports are safe, weeks after a tainted pet food case...
New York Times - May 18, 2007
Wolfowitz Resigns From World Bank
Paul D. Wolfowitz?s departure, which will occur on June 30, ended weeks of furor over charges of favoritism toward a bank employee who is his female companion...
New York Times - May 18, 2007
G.E. Nears a Deal to Sell Plastics Unit
The $11 billion deal would sell G.E.?s plastics division to Saudi Arabia?s largest public company, the Saudi Basic Industries Corporation...
New York Times - May 18, 2007
More police for Mexico drugs town
Mexico boosts police numbers in the north after 22 die in a gun batttle between drug gangs and security forces...
BBC News - May 18, 2007
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