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US News Archive for July 2007:
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Agreement Reached on Panel to Study City Traffic
The agreement to establish a commission to study ways to relieve traffic in New York City came after talks that tied together a host of seemingly unrelated issues...
New York Times - July 19, 2007
Senate Panel Backs Expansion of Child Health Plan
A majority of Republicans joined Democrats in supporting an expansion of the Children?s Health Insurance Program...
New York Times - July 19, 2007
Computer Checkers Program Is Invincible
Scientists report that they have rigorously proved that Chinook, the computer program, cannot lose...
New York Times - July 19, 2007
Museum Review: Touch Me Feel Me Science
In the Liberty Science Center?s new science museum, everything is urgent and personal. And under this new model, and something familiar is illuminated in unexpected ways...
New York Times - July 19, 2007
No Asbestos Found in Air After Blast
City officials said that long-term health effects from exposure to the Midtown blast are unlikely...
New York Times - July 19, 2007
Illinois Tool Works Posts Profit, Raises Forecast
By REUTERS...
New York Times - July 19, 2007
Safeway?s 2nd-Quarter Profit Falls 11 Percent
Safeway (NYSE:SWY) Inc.'s second-quarter profit slipped 11 percent because of an unusual twist on its income taxes, but the second largest U.S. grocer remained on a sales upswing that has been propelled by a makeover of its stores...
New York Times - July 19, 2007
Media General?s Profit Declines Nearly 75 Percent
The publisher of the Richmond Times-Dispatch, The Tampa Tribune and Winston-Salem Journal said softness in its publishing division hit second-quarter results...
New York Times - July 19, 2007
McClatchy Reports 9.5 Percent Decline in Profit
A sharp falloff in real estate advertising in California and Florida hurt the newspaper publisher, but the second-quarter results still came in ahead of expectations...
New York Times - July 19, 2007
AMD Posts Second-Quarter Loss
Advanced Micro Devices said that it lost $600 million or $1.09 per share, for the three months ended June 30...
New York Times - July 19, 2007
[TS] High & Low Finance: Market Shock: AAA Rating May Be Junk
The question is whether the market can continue rising as investors learn that the financial innovations that helped to build the boom were constructed on sand...
New York Times - July 19, 2007
EDS Names New Chief Executive
Electronic Data Systems Corp. named Ronald A. Rittenmeyer, president and chief operating officer, to succeed Michael H. Jordan as chief executive of the company...
New York Times - July 19, 2007
Ford Reports Bids for Jaguar and Land Rover
The automaker said today that it had received several opening bids for Jaguar and Land Rover but had made no decisions on the fate of the two British brands...
New York Times - July 19, 2007
Barclays May Sweeten Bid for ABN Amro
After a group led by the Royal Bank of Scotland raised the cash portion of its offer for ABN, Barclays said it might add cash to its all-share offer...
New York Times - July 19, 2007
Dow Jones Director Resigns Over Deal
German publishing executive Dieter von Holtzbrinck has resigned as a director of Dow Jones & Co. to protest the board?s endorsement of a deal to sell the company to Rupert Murdoch?s News Corp...
New York Times - July 19, 2007
Conrad Black Stays Free on Bond
A federal judge today imposed strict travel limits on the former press baron while he awaits sentencing for swindling the Hollinger International newspaper empire...
New York Times - July 19, 2007
Microsoft?s Profit Rises Despite Xbox Charge
Microsoft said it eked out a gain in net profit despite taking a $1 billion charge to pay for repairs to its Xbox 360 game consoles...
New York Times - July 19, 2007
Google Earnings Up 28% but Miss Expectations
The search giant?s shares declined sharply in after-hours trading despite its 58 percent increase in quarterly revenues...
New York Times - July 19, 2007
Dow Industrials Close Above 14,000
The record finish capped a four-month rally driven by corporate buyouts, strong profits and stock buybacks...
New York Times - July 19, 2007
Dow Jones director quits over bid
A director of Dow Jones quits in protest at Rupert Murdoch's $5bn bid, saying it may threaten its editorial values...
BBC News - July 19, 2007
New products boosting Microsoft
Demand for the Vista Windows system and other products helps Microsoft to profits of $3.03bn, up 11% on last year...
BBC News - July 19, 2007
US judge dismisses CIA leak case
A US judge throws out a lawsuit brought by ex-CIA agent Valerie Plame against Vice-President Dick Cheney...
BBC News - July 19, 2007
15 Emmy Nominations for ?The Sopranos?
Also prominent on the list of this year?s Emmy nominees were ?Heroes,? ?30 Rock? and ?Ugly Betty.?...
New York Times - July 19, 2007
Asbestos Not Found in Air After Blast, Officials Say
City officials said today that it is unlikely that anyone will have long-term health effects from exposure following the explosion in Midtown yesterday...
New York Times - July 19, 2007
Harley-Davidson Profit Rises 19 Percent
MILWAUKEE (AP) -- Harley-Davidson Inc. said Thursday its second-quarter profit rose 19 percent on double-digit international sales growth and improved performance by its namesake motorcycle unit...
New York Times - July 19, 2007
Hershey 2nd-Quarter Profit Tumbles
HARRISBURG, Pa. (AP) -- Hershey, the nation's largest candymaker, on Thursday reported its profit tumbled 96 percent in the second quarter as it spent heavily to begin transforming its production lines and revive flat sales...
New York Times - July 19, 2007
Wyeth 2nd-Quarter Profit Rises on Strong Sales
Wyeth (NYSE:WYE PR) (NYSE:WYE) said Thursday its second-quarter profit rose about 13 percent as the drug maker posted strong sales of inflammatory disease drug Enbrel, pneumococcal vaccine Prevnar and other medicines...
New York Times - July 19, 2007
UnitedHealth Profit Rises 22 Percent
NEW YORK (Reuters) - Insurer UnitedHealth Group Inc. said on Thursday that second-quarter profit rose 22 percent, beating analyst estimates, as premium revenue increased and operating margins improved, but an important medical-cost gauge worsened from the first quarter...
New York Times - July 19, 2007
Honeywell Profit Rises on Aerospace, Construction
BOSTON (Reuters) - Diversified manufacturer Honeywell International Inc. reported a 17 percent rise in quarterly profit on Thursday, beating Wall Street forecasts, on strong sales of aviation products and systems used to heat and cool large industrial buildings...
New York Times - July 19, 2007
Bank of NY Mellon Posts Higher Operating Profits
NEW YORK (Reuters) - Bank of New York Mellon Corp , created this month from the merger of Bank of New York Co. and Mellon Financial Corp., on Thursday said rising fees from holding securities and processing trades helped boost operating profit at the former Bank of New York and Mellon...
New York Times - July 19, 2007
Motorola Posts Quarterly Loss, Revenue Down
Motorola posted a loss from continuing operations of $38 million, or 2 cents a share, compared with a profit of $1.35 billion, or 54 cents per share, a year earlier...
New York Times - July 19, 2007
Continental Earnings Rise on Global Demand
NEW YORK (Reuters) - Continental Airlines posted a better-than-expected 15 percent increase in quarterly earnings on Thursday on strong demand for trans-Atlantic and other international flights...
New York Times - July 19, 2007
Bank of America Profit Rises 5 Percent
NEW YORK (Reuters) - Bank of America Corp. , the second-largest U.S. bank, said on Thursday quarterly profit rose 5 percent, topping analyst estimates, as gains from private equity and investment banking offset lower retail banking earnings and worsening loan quality...
New York Times - July 19, 2007
Dow Jones Quarterly Profit Falls, Hurt By Charges
NEW YORK (Reuters) - Dow Jones & Co. Inc. reported a 27 percent drop in quarterly profit on Thursday, hurt by lower ad sales at The Wall Street Journal and higher stock-based compensation expenses after its share price surged following News Corp.'s bid for the company...
New York Times - July 19, 2007
World Business Briefing : Thailand: Benchmark Interest Rate Cut
Thailand?s central bank cut its benchmark interest rate for the fifth consecutive time this year to spur an economy blighted by slumping consumer confidence after last year?s coup. The Bank of Thailand reduced its one-day bond repurchase rate to 3.25 percent from 3.5 percent. Lower interest rates may help the baht retreat from a 10-year high against the dollar, making exporters more competitive. ?Consumption and investment remain weak,? said Usara Wilaipich, an economist at Standard Chartered Bank in Bangkok. ?Inflation is not a concern now because a slump in spending has curbed price increases.?...
New York Times - July 19, 2007
World Business Briefing: Switzerland: Richemont?s Sales Rise 9%
Richemont, the luxury goods maker, posted a 9 percent sales rise from April to June compared with the period last year despite a drag from a weak yen and United States dollar. Richemont, whose brands include Cartier watches, Montblanc pens and Piaget jewelry, has benefited from demand from China, Russia and the Middle East. Sales in the Asia-Pacific region rose 20 percent in Richemont?s first fiscal quarter of 2007, outshining European sales, which were up 13 percent, and American sales, which rose 3 percent. Japanese sales fell 3 percent. Richemont is based in Geneva...
New York Times - July 19, 2007
World Business Briefing: Canada: Inflation Worries Continue
Canadian consumer prices unexpectedly fell in June, but that is unlikely to deter the Bank of Canada from raising interest rates in September, analysts said, as the annual inflation rate stayed well above target. Annual inflation held steady at 2.2 percent in June. The core rate, which excludes volatile items like gasoline, jumped back up to April?s four-year high of 2.5 percent, after easing to 2.2 percent in May. ?This is good news for a day, but the Bank of Canada will still continue to hike rates to try to minimize any inflation overshoot,? said Carl B. Weinberg, chief economist at High Frequency Economics...
New York Times - July 19, 2007
World Business Briefing : Britain: Qatari Fund May Bid for Sainsbury
A Qatari investment fund, the Delta Fund, said it was talking with J Sainsbury, the British supermarket operator, about a takeover, the second bid this year for Sainsbury. Delta, which already holds a 25 percent stake in the grocer, said it was in preliminary talks to buy the rest. Sainsbury confirmed it had received an offer, but neither side disclosed a price. Earlier this year the company fended off a £10.1 billion ($20.6 billion) bid from a group of buyout funds...
New York Times - July 19, 2007
World Business Briefing : Italy: Alitalia Auction Collapses
The Italian government?s attempt to privatize the airline Alitalia collapsed after the only remaining bidder pulled out of the auction. The Italian treasury said it halted its attempt to sell its 49.9 percent stake in the airline after a buyout firm, MatlinPatterson Global Advisers, dropped out. The airline called a board meeting for tomorrow to decide what to do next. MatlinPatterson, which is based in New York, was one of 11 bidders that expressed interest when the auction began seven months ago. The bidders gradually dropped out because of what they said were onerous conditions that a buyer would be required to meet...
New York Times - July 19, 2007
China?s Economy Growing at a Breakneck Pace
China?s 11.9 percent annual rate of growth in the second quarter raised fears that the economy is overheating...
New York Times - July 19, 2007
Fed Chief Vows to Curb Mortgage Abuses
Ben S. Bernanke offered lawmakers fresh assurances today that regulators are taking steps to better protect would-be homeowners from abusive mortgage practices...
New York Times - July 19, 2007
Mixed Signals in U.S. Economic Reports
Initial claims for jobless benefits fell to their lowest level in two months, but a forward-looking indicator of economic activity suggests cooler growth in the second half of 2007...
New York Times - July 19, 2007
Father-Daughter Rift Reported at Viacom
A growing estrangement between Sumner N. Redstone, the media billionaire, and his daughter Shari has called into question who will inherit control of the CBS and Viacom empires...
New York Times - July 19, 2007
Fed warns of $100bn credit losses
Federal Reserve boss Ben Bernanke warns the crisis in the US sub-prime lending market may cost $100bn...
BBC News - July 19, 2007
Golf: Woods' solid start at Open
World number one Tiger Woods begins his Open campaign at Carnoustie with a two-under par 69...
BBC News - July 19, 2007
US pledges $1m to curb gangs
The US is to spend $1m to help governments in Central America and Mexico combat violent gangs...
BBC News - July 19, 2007
Argentina set for campaign launch
Argentina's First Lady, Cristina Fernandez de Kirchner, is set to launch her campaign for October's presidential poll...
BBC News - July 19, 2007
Calls for Brazil airport to close
Pressure mounts for Sao Paulo's Congonhas airport to close in the wake of a crash which killed 200 people...
BBC News - July 19, 2007
Allstate Earnings Fall Short as Profit Rises
The Allstate Corporation announced 16 percent profits in the second quarter but missed analyst estimates for operating earnings by 4 cents a share...
New York Times - July 19, 2007
Company Reaches Deal With U.S. in Internet Gambling Case
The British payments processor Neteller will forfeit $136 million but will not be prosecuted for conspiracy under a agreement with the United States government...
New York Times - July 19, 2007
Altria?s Quarterly Profit Declines
The parent of the Phillip Morris tobacco companies reported lower second quarter profits due to a U.S. plant closing and cost cutting measures...
New York Times - July 19, 2007
Pfizer Earnings Show a Decline as Sales Slow
Pfizer saw a 13 percent decline in sales of its best-selling cholesterol treatment, Lipitor, which contributed to lower-than-expected second quarter earnings...
New York Times - July 19, 2007
China Reports 11% Quarterly Growth and Rising Inflation
China?s second quarter growth exceeded forecasts, but the economy faces rising food prices, high energy consumption and a large trade imbalance...
New York Times - July 19, 2007
Congress to Examine Google-DoubleClick Deal
Google executives are expected to testify about their planned $3.1 billion acquisition of DoubleClick, a deal facing scrutiny from federal antitrust regulators...
New York Times - July 19, 2007
Inflation, Except in Food, Was Relatively Mild in June
The Consumer Price Index rose by two-tenths of a percent in June, the smallest increase since January...
New York Times - July 19, 2007
Online campaigns bring in the bucks
How a growing army of internet donors are reshaping fundraising prospects for the 2008 White House contenders...
BBC News - July 19, 2007
Bank boss in Dow Jones deal probe
A board member of US media giant Dow Jones may face civil action over breaches of securities laws...
BBC News - July 19, 2007
NYC congestion charge is blocked
New York mayor Michael Bloomberg all but concedes defeat on his plan to introduce a congestion charge...
BBC News - July 19, 2007
Tennis: Davenport comeback
Lindsay Davenport will return to competitive tennis just a couple of months after giving birth to her first child...
BBC News - July 19, 2007
US tenor dies after 'suicide bid'
American opera singer Jerry Hadley dies at the age of 55, eight days after an apparent suicide attempt...
BBC News - July 19, 2007
US soldiers charged with murder
Two US soldiers have been charged with murdering an Iraqi national last month near the northern city of Kirkuk...
BBC News - July 19, 2007
New Glimpse at Players in Group Led by Cheney
Thanks to an unidentified former official, it is now possible to identify with greater precision who may have influenced Vice President Dick Cheney?s energy task force...
New York Times - July 19, 2007
Debate on Child Pornography?s Link to Molesting
A report on Internet child-pornography offenders suggests that the proportion who molest children is very high...
New York Times - July 19, 2007
Steam Blast Jolts Midtown, Killing One
A steam pipe exploded near Grand Central Terminal in Midtown Manhattan. More than 30 people were injured, two critically...
New York Times - July 19, 2007
Candidates Shift as G.O.P. Field Alters
The decline of Senator John McCain?s campaign and the rising profile of Fred D. Thompson are prompting Republican candidates to rewrite their strategies...
New York Times - July 19, 2007
Skin Deep: Good News for the Subway: Underarm Candy
Women?s antiperspirant deodorants make a lot of promises, and companies are promising a richer fragrance...
New York Times - July 19, 2007
Dubai Investment Firm Plans U.S. Purchases
Dubai International Capital, a private equity firm owned by the ruler of Dubai, is seeking to add American companies to its European=focused portfolio...
New York Times - July 19, 2007
Goldman Sachs Gets Deal for 2nd Jersey City Tower
The 30-story, $560 million office building would house employees moving across the river from New York and accommodate the future growth of the firm...
New York Times - July 19, 2007
3 U.S. Airlines Report Second-Quarter Profits
American Airlines, Delta and Southwest all reported profits for the second quarter, on strong passenger loads, but jet fuel costs limited the gains...
New York Times - July 19, 2007
Abbott Profit Rises 61%
Pharmaceutical maker Abbott Laboratories said its profit growth was driven by strong sales of migraine and Crohn?s disease treatments...
New York Times - July 19, 2007
United Technologies? Profit Rose 4% in 2nd Quarter
The parent of Pratt & Whitney, Otis Elevator and other industrial companies credited its profit-rise to strength in the international, aviation and commercial construction markets...
New York Times - July 19, 2007
Juniper Networks Posts a Profit As Sales of Internet Gear Climb
Juniper Networks reported a second-quarter profit of $86.2 million, on a more-than-expected revenue increase of 17 percent...
New York Times - July 19, 2007
JPMorgan Profit Up 20%; Shares Fall on Loan Worries
Profits were buoyed by investment banking fees, but the bank said it had set aside more money for possible losses in it?s loan business, though said this wasn?t due to subprime lending difficulties...
New York Times - July 19, 2007
Asset Sales Lift Income at Gannett
Gannett, the nation?s largest newspaper publisher, reported earnings of $365.7 million in the second quarter, but revenues fell when gains from the sale of several newspapers were excluded...
New York Times - July 19, 2007
Community Investment in San Jose
A growing number of communities are adopting a venture capital-style approach to aiding and investing in local businesses...
New York Times - July 19, 2007
Stocks & Bonds: Comments From Bernanke Rattle Investors
Wall Street retreated Wednesday as investors reacted to guarded testimony by the Fed chairman, Ben S. Bernanke, on the health of the economy...
New York Times - July 19, 2007
Dow Jones Director Is Said to Face S.E.C. Inquiry
Federal regulators reportedly intend to file a civil complaint against David K. P. Li over insider-trading allegations stemming from the takeover bid by News Corporation...
New York Times - July 19, 2007
Prosecutors in KPMG Case Appeal Dismissal of Charges
The judge who dismissed the case said that prosecutors had violated the defendants? rights to a fair trial and legal representation...
New York Times - July 19, 2007
Ford Is Expecting Bids Today for Jaguar and Land Rover
Bids are expected on Thursday for Ford?s Jaguar and Land Rover units from a variety of companies, including private equity firms, and possibly other automakers...
New York Times - July 19, 2007
Imperial Tobacco to Acquire Altadis for $17 Billion
If approved, the deal would be the largest acquisition in the European tobacco industry...
New York Times - July 19, 2007
Big Rise Seen in Demand for Energy
A report by the National Petroleum Council, billed as a comprehensive analysis of the world?s energy challenge, sees a 50 percent rise in energy demand over the next 25 years...
New York Times - July 19, 2007
Bush Forms Cabinet Committee to Study Safety of U.S. Imports
The step coincides with concern about tainted imports from China, but the White House insisted that the action was not aimed at that country...
New York Times - July 19, 2007
Profit at I.B.M. Rises 12% on Strength of Its Software
The company?s performance shows that it is making progress in its shift toward selling higher-margin software...
New York Times - July 19, 2007
EBay Profit Is Up 50%; Listings Off
The online auctioneer?s quarterly earnings beat estimates, but C.E.O. Meg Whitman hopes a home page redesign will revive sluggish user growth and a drop in listings...
New York Times - July 19, 2007
Fed Trims Its Forecast for Growth
Ben S. Bernanke said he expected ?moderate? growth, but that problems in housing had tempered the forecast...
New York Times - July 19, 2007
Advertising: Products to Break the Chemical Habit and Get Eco-Friendly
Method Products is launching its biggest-ever advertising push to showcase the company?s biodegradable cleaning products...
New York Times - July 19, 2007
At The Gates: Murdoch?s Arrival Worries Journal Employees
Staffers at the Wall Street Journal face the uncertainty of a new owner and a suddenly harsh advertising climate...
New York Times - July 19, 2007
Retirees? Health Costs Loom Over U.A.W. Talks
The generous health benefits paid by automakers will be a crucial sticking point in union negotiations...
New York Times - July 19, 2007
As Dollar Crumples, Tourists Overseas Reel
The steep decline of the dollar against the euro has made eye-popping prices a lamentable part of the traveler?s tale...
New York Times - July 19, 2007
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