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US News Archive for August 2007:
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Nifong gets one-day term in Duke rape case
Former district attorney Mike Nifong was held in criminal contempt of court and sentenced to one day in jail Friday for his actions in the flawed Duke lacrosse team rape case. full story...
CNN - August 31, 2007
Burundian refugees go home with fear
After more than a decade in refugee camps, Jean Kayobera was ready to come home. But when he arrived in Burundi this month, he already was having second thoughts. "I am worried that the country might go back at war," he said. full story...
CNN - August 31, 2007
Craig to announce resignation
Sen. Larry Craig of Idaho will announce his resignation Saturday, a Republican source in Idaho tells CNN. Craig will leave office on September 30, the source said. The development comes a day after the release of a police recording made after Craig's arrest in an airport restroom. full story...
CNN - August 31, 2007
Duke Prosecutor Is Held in Contempt of Court
Mike Nifong was held in criminal contempt of court for ?willfully? making false statements to a judge when pursuing rape charges against three falsely accused Duke University lacrosse players...
New York Times - August 31, 2007
US Open Blog: Nobody Loses, but Djokovic Advances
Between acrobatic shots and trainer visits, Novak Djokovic of Serbia and Radek Stepanek of the Czech Republic played a classic match today on Armstrong Court, with the artistry of the third-seeded Djokovic being challenged by the guile of Stepanek for almost five hours. Djokovic and the sport of tennis came out the winner. Djokovic survived, [...]...
New York Times - August 31, 2007
The Caucus Blog: Degeneres/Clinton ?08?
Hillary Rodham Clinton: former first lady, United States senator, presidential candidate, prop comic...
New York Times - August 31, 2007
Bush Hears About Strain on Troops
WASHINGTON (AP) -- At a key juncture in the Iraq war, the military chiefs conveyed to President Bush on Friday their concern about a growing strain on troops and their families from long and repeated combat tours...
New York Times - August 31, 2007
One Gay Marriage, Then Iowa Judge Stays Ruling
DES MOINES, Iowa (AP) -- Two men sealed the state's first legal same-sex marriage with a kiss Friday morning, less than 24 hours after a judge threw out Iowa's ban on gay marriage and about two hours before he put that ruling on hold...
New York Times - August 31, 2007
Idaho Governor Faces Speculation on Senate Seat
If Senator Larry E. Craig yields to calls for his resignation, his successor would be chosen by Gov. C. L. Otter...
New York Times - August 31, 2007
Democratic Donor Turns Himself In
After defying an arrest warrant since 1992, Norman Hsu surrendered to face a grand theft charge...
New York Times - August 31, 2007
Senator Warner Will Not Seek Re-election
Senator John W. Warner?s retirement creates a major new vulnerability for his party in the struggle for control of the Senate...
New York Times - August 31, 2007
Google News to Feature 4 Agencies? Articles
Google said it would host news articles from four news agencies, setting the stage for it to generate advertising revenue from Google News...
New York Times - August 31, 2007
Accredited Home Soars on Merger Hopes
Shares of Accredited Home Lenders Holding rose as much as 41.2 percent after Lone Star Funds made a revised offer for the subprime lender...
New York Times - August 31, 2007
WTO to Investigate China?s Tax Laws
The United States and Mexico have argued that China?s tax refunds, reductions and exemptions discriminate against imported products or subsidize Chinese exports...
New York Times - August 31, 2007
Toyota Targets Record Sales in 2009
Toyota plans to sell 10.4 million vehicles globally in 2009, well above the auto industry?s 30-year-old record...
New York Times - August 31, 2007
Apple Bars New NBC Shows From iTunes
The dispute between Apple and NBC Universal over the pricing of video on iTunes grew more heated as Apple announced it would not add any new NBC shows to the online store?s inventory...
New York Times - August 31, 2007
Barclays Helps Rescue Debt Fund
Barclays, forced this week to deny reports of exposure to troubled debt products, said it helped rescue a $1.6 billion debt fund at a London-based asset management firm...
New York Times - August 31, 2007
Who Founded Facebook? A New Claim Emerges
Facebook has been fighting claims from the founders of ConnectU that its founder stole the idea from them. Now another Harvard classmate of theirs claims that he actually created the social networking system...
New York Times - August 31, 2007
Ameriquest, a Subprime Lender, Is Closing
Citigroup said today that it had agreed to buy the wholesale mortgage origination and servicing assets of Ameriquest?s parent, ACC Capital Holdings, for an undisclosed price...
New York Times - August 31, 2007
NBC ends iTunes deal in price row
TV programmes such as Heroes will not be available on iTunes after US broadcaster NBC ends a deal with Apple...
BBC News - August 31, 2007
Veteran Republican to stand down
Influential Republican Senator John Warner of Virginia announces he will not seek a sixth term in office...
BBC News - August 31, 2007
Soldier buries brother in life, brother in arms
Jeff Hubbard fought back tears as he talked about his boy -- a "great, great young man" who was killed last week in Iraq in a helicopter crash. It's the second time he's had to bury a son killed in the Iraq war. full story...
CNN - August 31, 2007
Sources: Craig resignation likely soon
Several well-placed GOP sources in Washington and Idaho have told CNN that embattled Republican Sen. Larry Craig is likely to resign soon, possibly as early as today. The development comes a day after the release of a police recording made after Craig's arrest in an airport restroom. full story...
CNN - August 31, 2007
US Open: Can Ahsha Stay on a Roll?
If Ahsha Rolle wants to continue competing at this year’s Open, she?ll have to keep winning in singles. Rolle and her doubles partner, Angela Haynes, were crushed on Thursday by Vania King (an 18-year-old Californian who lost in the first round of singles but is still alive in doubles and mixed doubles) and Emilie Loit, [...]...
New York Times - August 31, 2007
City Room: In Poll, New Yorkers Favor Yankees
A new survey finds that 51 percent of baseball fans in the city call the Yankees their favorite team...
New York Times - August 31, 2007
The Lede: Burning Man Suspect?s Merry Interview
Paul Addis has emerged in his full glory during a superbly cuckoo chat...
New York Times - August 31, 2007
The Caucus: Tony Snow Resigns
The White House press secretary will step down next month...
New York Times - August 31, 2007
Democratic Donor Turns Himself In
A top Democratic fundraiser wanted as a fugitive in California turned himself in Friday to face a grand theft charge...
New York Times - August 31, 2007
10th Anniversary of Diana?s Death Marked
LONDON (AP) -- Princess Diana's family solemnly marked the 10th anniversary of her death Friday, with her younger son eulogizing her as ''the best mother in the world.''...
New York Times - August 31, 2007
Senator Craig May Resign Soon, Republicans Say
Senator Larry E. Craig was said today to be on the verge of resigning his seat after pressure from fellow Republicans...
New York Times - August 31, 2007
NBC Will Not Renew ITunes Contract
NBC Universal and Apple were unable to come to an agreement on pricing, leading to the a withdrawal that highlights escalating tensions between Apple and media companies...
New York Times - August 31, 2007
Consumer Spending Rebounded in July
The Commerce Department said consumer spending rose by 0.4 percent in July, double the June increase. The spending was supported by a solid 0.5 percent rise in incomes...
New York Times - August 31, 2007
Stocks Rise After Bush and Bernanke Speak
Wall Street advanced sharply as investors seemed to take comfort from comments that the Fed will step in if needed...
New York Times - August 31, 2007
Bush Offers Relief for Some on Home Loans
President Bush, in his first response to the subprime mortgage crisis, announced several steps today to help Americans who have credit problems meet the rising cost of their housing loans...
New York Times - August 31, 2007
Bernanke Says Fed Is Prepared to Act
The Fed chief said today that the central bank ?stands ready to take additional actions as needed? to limit the effect of the financial market disorder on the economy...
New York Times - August 31, 2007
US lawmaker plane evades shots
A US congressional delegation leaving Baghdad in a cargo plane came under rocket fire, the US military says...
BBC News - August 31, 2007
Bush's media man sets exit date
White House press secretary Tony Snow says he will step down from the job in two weeks' time...
BBC News - August 31, 2007
Bush discusses Iraq, China military
President Bush said in an interview broadcast Friday that he would be concerned about China's military if the country ever turned hostile, and he urged U.S. allies to complete the work still left in Iraq and Afghanistan. full story...
CNN - August 31, 2007
After Months of Flirting, Thompson Is Almost In
Fred D. Thompson?s campaign says he will formally announce his bid for president next week, while some commentators question whether he has waited too long...
New York Times - August 31, 2007
Cancer Society Focuses Its Ads on the Uninsured
The American Cancer Society plans to devote its 2007 ad budget to the consequences of inadequate health coverage...
New York Times - August 31, 2007
Bush Will Offer Relief for Some on Home Loans
The plan comes at a time of growing attacks from Democrats who say the president has remained on the sidelines amid anxiety over the mortgage crisis...
New York Times - August 31, 2007
Lower costs lift Dell's profits
Profits at Dell, the world's number two computer maker, soar 46% helped by lower component costs...
BBC News - August 31, 2007
Inspector General at the Justice Dept. Is Investigating Gonzales?s Testimony
It was not clear if the investigation into Mr. Gonzales?s statements to Congress is tied to the attorney general?s announcement that he was resigning from the Justice Department...
New York Times - August 31, 2007
Governor Commutes Sentence in Texas
Kenneth Foster, whose death sentence has raised international protest, won a rare commutation to life in prison...
New York Times - August 31, 2007
Democrats Turn From Big Donor Who?s Fugitive
Campaigns across the country have begun to return contributions from Norman Hsu in light of revelations that he is a fugitive in a fraud case...
New York Times - August 31, 2007
One Dead and Two Wounded in Bronx Shooting
After the shooting, the gunman, who is said to have been enraged at losing his job at Co-op City, turned himself in to security officers at a courthouse...
New York Times - August 31, 2007
Cancer Society Focuses Its Ads on Uninsured
The American Cancer Society plans to devote its entire $15 million advertising budget this year to the consequences of inadequate health coverage...
New York Times - August 31, 2007
World Business Briefing: France: Sarkozy Favors a Utility Merger
President Nicolas Sarkozy said he favored a merger of Gaz de France and the energy operations of Suez, implying Suez would have to shed its waste and water units to complete the long-pending deal...
New York Times - August 31, 2007
World Business Briefing: Belgium: Brewer?s Profit Up 27 Percent
InBev, which brews Beck?s, Brahma and Stella Artois, said its profit surged 27 percent in the second quarter as it sold more beer in Latin America, Russia and Asia...
New York Times - August 31, 2007
World Business Briefing: Canada: G.M. To Cut Jobs at Truck Plant
General Motors of Canada will cut about 1,100 jobs at a truck plant in Ontario amid slumping pickup sales, the company said...
New York Times - August 31, 2007
Freddie Mac Earnings Drop 45%
The nation?s number 2 buyer and backer of home mortgages saw a 45 percent drop in second-quarter profits after setting aside $300 million to account for bad loans...
New York Times - August 31, 2007
World Business Briefing: China: Antimonopoly Law Approved
After 13 years of reviewing drafts, the National People?s Congress approved a law that bans price-fixing, collusion, excessive market concentration and other monopolistic practices by private and state-owned businesses alike...
New York Times - August 31, 2007
I.B.M. Researchers Advancing Computer Processing Ability
In two papers published on Friday, I.B.M. researchers describe techniques that would allow electronics to be made from components far smaller than today?s transistors and wires...
New York Times - August 31, 2007
YouTube to Pay British Licenser for Use of Songs
YouTube has reached an agreement to pay royalties to the MCPS-PRS Alliance, which serves 50,000 British composers, songwriters and publishers...
New York Times - August 31, 2007
Microsoft Settles a Dispute Over a Feature in its Browser
Microsoft said Thursday that it had settled an eight-year patent dispute relating to a feature that allows embedded links in its browser that resulted in a $521 million jury verdict against it...
New York Times - August 31, 2007
Settlement Reached on Boston Scientific Heart Devices
Boston Scientific said Thursday that three of its subsidiaries had agreed to pay $16.75 million and extend the warranty on some of its heart devices as part of a settlement with state attorneys general...
New York Times - August 31, 2007
ITT-Led Team Wins Air Traffic Control Contract
A team led by the military contractor ITT Corporation has won a government contract worth up to $1.8 billion to build the first portion of a new satellite-based air traffic control system...
New York Times - August 31, 2007
EarthLink Abandons San Francisco Wi-Fi Project
San Francisco?s mayor, Gavin Newsom, remains committed to a plan to roll out a citywide Wi-Fi network despite EarthLink?s decision to bow out an agreement to build the system...
New York Times - August 31, 2007
Sears Holdings Reports 40% Drop in Profit
Sears Holdings said Thursday that its second-quarter profit had tumbled 40 percent because of lower overall sales and weaker operating results from Kmart and its domestic Sears operations...
New York Times - August 31, 2007
Tiffany Raises Earnings Estimates
Tiffany & Company said yesterday that second-quarter profit fell 10 percent, hurt by a charge related to the sale of its Little Switzerland retail business, but sales beat expectations...
New York Times - August 31, 2007
Toys ?R? Us Recalls Chinese-Made Art Sets
Toys ?R? Us is recalling thousands of art sets made in China because of excessive lead in some black watercolor paints...
New York Times - August 31, 2007
Sale of a Block Loan Unit Is at Risk
H&R Block said yesterday that the sale of its subprime lending unit, Option One Mortgage, might fall apart as credit markets deteriorate...
New York Times - August 31, 2007
Judge Rejects Bankruptcy for 2 Hedge Funds
A federal judge on Thursday denied Bear Stearns bankruptcy protection for two failed hedge funds it managed, but granted the bank 30 days to refile...
New York Times - August 31, 2007
Shares End Mixed After a Seesaw Day
Stocks finished a back-and-forth session mixed yesterday as investors grappled with weaker-than-expected economic data and weighed the chances that the Federal Reserve would lower interest rates...
New York Times - August 31, 2007
President of Standard & Poor?s Steps Down
Kathleen Corbet, president of the credit rating company Standard & Poor?s, resigned after lawmakers and investors criticized the company for failing to judge the risks of securities backed by subprime mortgages...
New York Times - August 31, 2007
Bank in Germany Posts Loss Because of Bad Stock Trades
The German state-run bank WestLB said it had lost more than $820 million on speculative trades in global stock markets during the first half of 2007...
New York Times - August 31, 2007
Speculators Seen As Causing Many Defaults
Investors who tried to turn a profit on the housing market are having an outsize influence on surging mortgage defaults in former boom states like California and Florida, a banking industry group said Thursday...
New York Times - August 31, 2007
Mortgage Firm Sells $500 Million in Stock
Thornburg said the sale would help the company resume making loans and buying mortgage-backed securities...
New York Times - August 31, 2007
Growth Pace Accelerated in 2nd Quarter
The economy grew at an annual rate of 4 percent during the second quarter, its strongest pace in more than a year as international trade and business investment helped offset weakness in housing...
New York Times - August 31, 2007
Insider: 20/20 Hindsight Through What Were Once Rose-Colored Glasses
Some investments that banks made in hedge funds during boom times look rather questionable in hindsight...
New York Times - August 31, 2007
At I.B.M., a Vacation Anytime, or Maybe None
I.B.M. is probably the largest company to do away with tracking vacation...
New York Times - August 31, 2007
Advertising: Borrowing the Tricks of TV News to Set a Show Apart
Fox Broadcasting is sending fake news vans onto the streets of four cities to promote its new sitcom, ?Back to You.?...
New York Times - August 31, 2007
Carrefour, French Retail Giant, to Sell 20% of Its Property Unit
Carrefour, the world?s second-biggest retailer, said Thursday that it planned to sell part of its real estate portfolio in and I.P.O...
New York Times - August 31, 2007
Dell?s Earnings Rise, but Delays Hinder Recovery
Dell reported on Thursday that second-quarter earnings rose 46 percent, but production delays are preventing the company from growing as quickly as hoped...
New York Times - August 31, 2007
Family Challenges Verizon Wireless Deal to Sell Bob Marley Ring Tones
The family of Bob Marley is challenging a deal announced on Tuesday between Verizon and the Universal Music Group to sell ring tones based on the catalog of Marley?s music...
New York Times - August 31, 2007
A Designer Handbag Amid the Briefcases on the Tax Beat
Fashion conscious and controversial, Lee Sheppard?s writing have become a must-read for tax practitioners...
New York Times - August 31, 2007
NBC to End iTunes Sales of Its Shows
NBC Universal and Apple were unable to come to an agreement on pricing, leading to the withdrawal which highlights escalating tensions between Apple and media companies...
New York Times - August 31, 2007
News Analysis: Why a U.S. Subprime Mortgage Crisis Is Felt Around the World
The global financial turmoil, ignited by the subprime mortgage problems in the U.S., has exposed the downsides of spreading risk so broadly that upheavals are felt worldwide...
New York Times - August 31, 2007
Building a Modern Arsenal in India
With a growing economy and closer ties with the U.S., India has a growing military appetite which is attracting contractors seeking big arms deals...
New York Times - August 31, 2007
Bush Plans Loan Relief on Housing
The officials said the plan would call for the Federal Housing Administration to change its federal mortgage insurance program in a way that would let an additional 80,000 homeowners with spotty credit records sign up...
New York Times - August 31, 2007
Iowa judge backs gay weddings
A judge in the US state of Iowa strikes down a ban on same-sex marriages as unconstitutional...
BBC News - August 31, 2007
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