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US News Archive for July 2005:
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Luther Vandross, R&B Singer, Dies at 54
Grammy winner Luther Vandross, who sold more than 25 million albums while providing the romantic backdrop for millions of couples worldwide, died today at 54...
New York Times - July 1, 2005
Democrats Warn Bush on Choosing Successor to O'Connor
Democrats warned President Bush not to try to appoint someone whose views they consider extreme. Republicans, meanwhile, signaled that they were girding for a fight...
New York Times - July 1, 2005
Fears grow for US missing troops
A US hunt fails to find a lost military team, in an Afghan rescue mission which has already claimed 16 US lives...
BBC News - July 1, 2005
Microsoft pays out $775m to IBM
Microsoft agrees to pay $775m to settle an anti-trust case launched by IBM amid claims of discriminatory pricing and overcharging...
BBC News - July 1, 2005
LA's new Latino mayor is sworn in
Los Angeles' first Latino mayor in more than a century, Antonio Villaraigosa, is inaugurated...
BBC News - July 1, 2005
O'Connor, First Woman on High Court, Resigns After 24 Years
Her departure is likely to ignite a passionate ideological battle throughout the summer...
New York Times - July 1, 2005
A Scary Crash, a Thwarted Deal and Then Plan B
Executives reconstructed the behind-the-scenes maneuvers that led to the $35 billion deal with Bank of America...
New York Times - July 1, 2005
Microsoft to Pay I.B.M. $775 Million to Settle Antitrust Claims
The settlement stems from the Justice Department's antitrust case against Microsoft in the mid-1990's...
New York Times - July 1, 2005
US industry and shoppers upbeat
US manufacturing growth and a surge in consumer confidence in June beat forecasts and show robust economic growth...
BBC News - July 1, 2005
Allied takeover gets US clearance
Pernod Ricard clears a major hurdle in its bid to acquire Allied Domecq as the deal is approved by US competition authorities...
BBC News - July 1, 2005
Boxing: Hearns set for ring return
Six-times world champion Thomas Hearns announces his comeback, aged 46...
BBC News - July 1, 2005
Mack back at Morgan Stanley
Ex-Morgan Stanley president John Mack returns to run the troubled investment bank, four years after a power struggle sparked his departure...
BBC News - July 1, 2005
Syria minister faces US ban
The US blocks the assets of Syria's interior minister and an intelligence chief for allegedly aiding terrorism in Lebanon...
BBC News - July 1, 2005
NFL: Vikings coach fined by NFL
Minnesota Vikings coach Mike Tice is fined $100,000 (£56,000) by the NFL for reselling Super Bowl tickets...
BBC News - July 1, 2005
Red Cross worker killed in Haiti
A kidnapped Red Cross employee has been shot dead in the Haitian capital, Port-au-Prince officials say...
BBC News - July 1, 2005
Bernie Ebbers gives up assets
Bernie Ebbers, the former Worldcom boss found guilty of fraud and conspiracy, hands over most of his assets ahead of his sentencing...
BBC News - July 1, 2005
Top Editor at Time Inc. Made a Difficult Decision His Own
In turning over documents to a grand jury, Time Inc.'s Norman Pearlstine said he concluded that, "We are not above the law."...
New York Times - July 1, 2005
The Mao Myth Thrives, but Don't Mention Its Dark Side
All over Yenan, China, people can be overheard trading admiring stories about the heroism of Mao Zedong's army or celebrating the spirit of the city itself...
New York Times - July 1, 2005
Senate Approves Central American Free Trade Pact
The vote, coming after a prolonged battle over the promises and perils of foreign trade, was a major victory for the president...
New York Times - July 1, 2005
US House blocks China oil bid
The US House of Representatives votes to block US approval for a bid for US oil firm Unocal from Chinese rival CNOOC...
BBC News - July 1, 2005
US senators back Latin trade pact
A Central American free trade agreement signed a year ago is approved by the US Senate despite much opposition from US industry...
BBC News - July 1, 2005
Al-Jazeera shelves US border film
Plans by al-Jazeera TV to film a report on the US-Mexico border are shelved after a civilian patrol group complains...
BBC News - July 1, 2005
G.O.P. Backs Blacks to Run to Lure Votes
Black candidates could help Republicans crack, if not break, Democratic domination among black voters in several key states...
New York Times - July 1, 2005
Time Inc. to Yield Files on Sources, Relenting to U.S.
Norman Pearlstine, Time Inc.'s editor in chief, said that he concluded after much reflection that, "We are not above the law."...
New York Times - July 1, 2005
After 2 Years on Ground, Shuttle Is Set to Fly in July
NASA will return Discovery to space in two weeks, the first space shuttle flight since the Columbia tragedy...
New York Times - July 1, 2005
Can a Rainmaker Be Morgan Stanley's Peacemaker?
WALL STREET loves heroes. Morgan Stanley, the famous investment bank that has bled talent and endured a long and embarrassing public feud among its factions, is hoping that John J. Mack is that hero...
New York Times - July 1, 2005
The Churn
People...
New York Times - July 1, 2005
Conventional Wisdom Not Always Right
The world's financial markets appear to be well on the way to demonstrating a great investment truth: When virtually everyone expects something to happen, it won't...
New York Times - July 1, 2005
Oliver Jensen, 91, Magazine Founder, Dies
Oliver Jensen founded American Heritage magazine in 1954 with Joseph Thorndike and James Parton, all formerly of Life magazine...
New York Times - July 1, 2005
UBS Hedge Fund Choice
By Bloomberg News...
New York Times - July 1, 2005
Against Expectations, Bank Resumes Its Buying Ways
Kenneth D. Lewis has quietly emerged as the deal maker to beat in the banking business...
New York Times - July 1, 2005
Foreign Suitors Nothing New in U.S. Oil Patch
China's bid for Unocal appears to pose less risk of generating shortages than other foreign acquisitions that have been approved by the government...
New York Times - July 1, 2005
Fired Officer Is Suing Wal-Mart
A former Wal-Mart executive responsible for inspecting apparel factories says he was fired for being too aggressive about finding workplace violations...
New York Times - July 1, 2005
Open Outcry and Very British
At a time when exchanges around the world are turning to electronic trading, the London Metal Exchange is committed to the traditional open-outcry system...
New York Times - July 1, 2005
Study Examines Sales to Soldiers
An extensive study by the Government Accountability Office, delivered to members of Congress yesterday, confirmed that Pentagon rules intended to protect service members from high-pressure or deceptive life insurance sales have been repeatedly violated in recent years...
New York Times - July 1, 2005
Hopes and Shares Rise as Boeing Names Chief
Boeing's hiring of W. James McNerney Jr. as chief executive yesterday raised investor hopes that the company can wring bigger and more consistent profits from its operations and left 3M scrambling after Mr. McNerney's abrupt departure...
New York Times - July 1, 2005
Change or End Urged for Terror Insurance Law
The Terrorism Risk Insurance Act was approved in the wake of the attacks of 2001, when many insurers stopped providing terrorism coverage or made it extremely costly...
New York Times - July 1, 2005
Hewlett Cites Progress on Quantum Computer
Hewlett-Packard has developed a new strategy for designing a quantum computer composed of light beams that could be more powerful than today's electronic computers...
New York Times - July 1, 2005
Shares Finish Slow Quarter, as Oil and Bonds Move Up
Crude oil prices breached $60 a barrel. Bonds gained steadily, pushing yields below 4 percent. And seemingly nothing can break the back of the real estate boom...
New York Times - July 1, 2005
Raids Aim at Web Piracy
The government announced a crackdown on organizations responsible for stealing copies of the latest "Star Wars" film and other movies, games and software programs...
New York Times - July 1, 2005
Sprint and Motorola Plan a Joint Effort on Wireless Technology
Sprint and Motorola said they would work together to develop technology for next-generation high-speed wireless technology...
New York Times - July 1, 2005
Bank of America to Buy MBNA, a Prime Issuer of Credit Cards
The $35 billion deal represents a bet by Bank of America that consumer spending will remain robust...
New York Times - July 1, 2005
Homecoming at Morgan Stanley
For John J. Mack, the new chief executive of Morgan Stanley, it was a moment to savor. On his triumphant return yesterday to the investment bank that unceremoniously dropped him four years ago, Mr. Mack was greeted by a standing ovation from a crowd of 200 employees gathered in a conference room at Morgan Stanley's towering Manhattan headquarters on Times Square...
New York Times - July 1, 2005
Big Indian Outsourcing Company Loses Executive to a U.S. Firm
Vivek Paul, the vice chairman of Wipro, one of India's top outsourcing companies, said that he was leaving to become a partner in the Texas Pacific Group...
New York Times - July 1, 2005
Report Criticizes Labor Standards in Central America
Reports commissioned by the Labor Department concluded that working conditions in five Central American nations and the Dominican Republic were dismal...
New York Times - July 1, 2005
Consumer Spending Unchanged in May
By Bloomberg News...
New York Times - July 1, 2005
Consumers, Long the Targets, Become the Shapers of Campaigns
Involving consumers in advertising choices is another way to reach viewers who tune out traditional advertising with TiVo and other digital video recorders...
New York Times - July 1, 2005
Scary Crash, Failed Deal, Then Plan B
MBNA executives reconstructed the behind-the-scenes maneuvers that led to the $35 billion deal with Bank of America...
New York Times - July 1, 2005
Senate Approves Free Trade Pact
After a bitter and prolonged battle, the Senate voted 54 to 45 to approve the Central American Free Trade Agreement...
New York Times - July 1, 2005
Fed Stays Its Course a 9th Time
The Federal Reserve raised short-term interest rates on Thursday, the ninth consecutive increase and almost certainly not the last...
New York Times - July 1, 2005
Mack's Next Challenge: To Make Peace and a Profit
Morgan Stanley has been through the equivalent of a horrible family fight, and it is up to its new chief executive, John J. Mack, to heal bruised egos...
New York Times - July 1, 2005
Ebbers Set to Shed His Assets
The founder of WorldCom agreed to surrender nearly all of his fortune to investors who lost billions in the company's bankruptcy...
New York Times - July 1, 2005
Germany Looks Forward to World Cup and Fans' Money
Economists are forecasting that the World Cup will deliver an invigorating kick to Germany, one of Europe's most torpid economies...
New York Times - July 1, 2005
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