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US News Archive for April 2008:
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The Regulatory Failure Behind the Bear Stearns Debacle
Bear Stearns never ran short of capital. It just could not meet its obligations. At least that is the view from Washington...
New York Times - April 3, 2008
Former Fed Official to Run Pension Fund
TIAA-CREF named Roger W. Ferguson Jr., a former vice chairman of the Federal Reserve, to succeed Herbert M. Allison Jr. as its chief executive and president...
New York Times - April 3, 2008
Robert Brown, Chief of Editor & Publisher, Dies at 95
Robert U. Brown spent four decades heading a leading newspaper industry trade publication, Editor & Publisher...
New York Times - April 3, 2008
Motorola Will Take a $104 Million Charge
The cellphone maker Motorola said that it was cutting jobs and paying severance payments to around 2,600 workers, resulting in a net pre-tax charge of around $104 million...
New York Times - April 3, 2008
Europe to Approve Guidelines on Bank Failures
Europe?s finance ministers are expected to agree to guidelines for handling cross-border banking failures that will favor private-sector rescues where possible...
New York Times - April 3, 2008
Investors Find Some Solace in Bernanke Remarks
Shares ended modestly higher as investors, for a time, looked past reports showing a slowing economy and focused on the possibility that the worst is over for the financial sector...
New York Times - April 3, 2008
More Americans Are Behind on Consumer Loans
As credit problems concentrated in mortgages spreads, more Americans have fallen behind on consumer loans than at any time in nearly 16 years, according to the American Bankers Association...
New York Times - April 3, 2008
German Bank Plans $6.7 Billion Write-Down
The write-down announced by BayernLB is double its previous estimate, more evidence that the contagion from the tight credit market continues to spread to state-owned banks...
New York Times - April 3, 2008
Suit on Light Cigarettes Is Thrown Out
A federal appeals court threw out an $800 billion class-action lawsuit on behalf of smokers of light cigarettes who said they were misled...
New York Times - April 3, 2008
City Room: Gay History at the Library
A new donor group is raising money to preserve the New York Public Library?s enormous collection of archives related to gay, lesbian, bisexual and transgender history...
New York Times - April 3, 2008
The Lede: FEMA Manages an Emergency of Its Own
The headquarters of the Federal Emergency Management Agency was briefly evacuated for a fire...
New York Times - April 3, 2008
The Lede: Model Reportedly Held at Heathrow
Naomi Campbell reporting for community service last February. (Credit: Diane Bondareff/Associated Press) In February, Naomi Campbell said that her court-ordered sanitation vacation and anger-management training changed her ways. But an issue involving her baggage at Heathrow Airport has reportedly sent the supermodel with a temper over the edge once more. About 15 months after pleading guilty [...]...
New York Times - April 3, 2008
Pope Plans to Visit Manhattan Synagogue
Pope Benedict XVI?s visit would be the first time a pope has ever visited a synagogue in the United States, and only the third visit by a pope to any synagogue...
New York Times - April 3, 2008
Former Kosovo Leader Acquitted in Hague Trial
Ramush Haradinaj, the former prime minister of Kosovo, was acquitted of all charges of war crimes and crimes against humanity...
New York Times - April 3, 2008
Book Unit to Skip Advances and Share Profits
HarperCollins, in an effort to address one of the more vexing issues of the book industry, is forming a publishing group that will substitute profit-sharing for cash advances...
New York Times - April 3, 2008
Personal Journey: Caught Between a Crackdown and a Tibetan Welcome
One writer?s peaceful experience in Western Sichuan during the riots left him yearning to return...
New York Times - April 3, 2008
Inspectors for F.A.A. Say Violations Were Ignored
Three veteran inspectors told lawmakers that their supervisors looked the other way while Southwest Airlines neglected to inspect planes as required...
New York Times - April 3, 2008
New Signs of Mugabe Crackdown in Zimbabwe
Police officers loyal to Robert G. Mugabe raided opposition offices, and arrested two foreign journalists in their hotel...
New York Times - April 3, 2008
Weak Economy Sours Public?s View of Future, New Poll Finds
Americans are more dissatisfied with the country?s direction than at any time since the New York Times/CBS News poll began asking about the subject in the early 1990s...
New York Times - April 3, 2008
US joins Chinese toys safety push
Senior officials in the EU and the United States agree to join forces to push Chinese toy-makers to improve safety...
BBC News - April 3, 2008
Google to make first big job cuts
Google announces its first sizeable lay-offs, with 300 jobs to go at its online advertising unit DoubleClick...
BBC News - April 3, 2008
Stocks Higher After Bernanke Testimony
Wall Street fell after the Labor Department reported a spike in jobless claims, sapping some of the market?s confidence ahead of the March employment report Friday...
New York Times - April 3, 2008
Paulson Urges China to Move on Market Overhaul
Treasury Secretary Henry M. Paulson Jr. ended a two-day visit by calling for China to move ahead on financial market changes, despite concerns about the downturn in the United States...
New York Times - April 3, 2008
Russia Plans No Charges Against Investor
Russia?s Interior Ministry said that it had brought no tax evasion charges against William F. Browder, the head of the investment fund, Hermitage Capital Management...
New York Times - April 3, 2008
Jobless Claims Hit Highest Level Since 2005
The number of U.S. workers applying for unemployment benefits soared by 38,000 last week, reinforcing fears that the U.S. economy has stalled, government data showed...
New York Times - April 3, 2008
Alitalia Scrambles After Deal Collapse
The airline?s board met after new demands from Alitalia?s unions led Air France-KLM to abandon takeover talks and Alitalia?s chairman to resign in frustration...
New York Times - April 3, 2008
In Rapper?s Deal, a New Model for Music Business
The rapper Jay-Z is on the verge of closing a $150 million deal that rivals the biggest music contracts ever awarded...
New York Times - April 3, 2008
Court Overturns Tobacco Suit Ruling
An appeals court has overturned class-action status for a lawsuit seeking $200 billion from tobacco companies for suggesting that light cigarettes might be less harmful than regular cigarettes...
New York Times - April 3, 2008
In Test, Few Skilled Student Writers
About one-third of America?s eighth-grade students, and about one in four high school seniors, are proficient writers, according to results of a nationwide test...
New York Times - April 3, 2008
City Room: Witness in Bell Case Tells of Warning
Detectives charged in the Sean Bell shooting are now putting on their defense. The first witness, a police officer, said he heard a detective shout, "Police, show your hands, police, show your hands," as he approached Mr. Bell's vehicle with his gun drawn...
New York Times - April 3, 2008
The Lede: Indonesia to Block YouTube Over Film
An ultimatum from the world's most populous Muslim country...
New York Times - April 3, 2008
Diner?s Journal: Reservations for Momofuku Ko
Navigating the online reservation system for Momofuku Ko...
New York Times - April 3, 2008
Fed Officials Defend Rescue of Bear Stearns
Speaking before a Senate committee, a top Fed official cited potentially ?severe consequences? to the broader economy in his defense of the Bear deal...
New York Times - April 3, 2008
MySpace and Record Companies Create Music Site
MySpace will spin out its popular music service as a joint venture with Universal Music, Sony BMG and Warner...
New York Times - April 3, 2008
Prominent Chinese Rights Activist Is Jailed
Critics say the conviction is part of a government crackdown to silence dissidents ahead of the Olympics...
New York Times - April 3, 2008
Kosovo Official Cleared of War Crimes
The U.N. war crimes tribunal cleared Kosovo?s former prime minister of charges of torturing and murdering Serbs, but sentenced his uncle to six years in jail for mistreating prisoners...
New York Times - April 3, 2008
Bankrupt, ATA Cancels All Flights
The airline said in a statement that it was unable to honor any tickets or reservations and asked other carriers to assist passengers stranded by the abrupt cancellations...
New York Times - April 3, 2008
Bush Wins NATO Backing on European Missile Shield
NATO countries, however, rebuffed President Bush?s entreaties to extend membership to the former Soviet republics of Ukraine and Georgia...
New York Times - April 3, 2008
U.S. Cites Gaps in Planning of Iraqi Assault on Basra
Interviews suggest that Prime Minister Nuri Kamal al-Maliki overestimated his military?s abilities and underestimated the scale of the resistance in Basra...
New York Times - April 3, 2008
The Caucus: A Non-Executive Decision
America?s long infatuation with executive leadership is about to end, and you never know, change might do us good...
New York Times - April 3, 2008
US job data fuels economy gloom
Worse than expected employment data sends US shares lower on concerns of job market weakness...
BBC News - April 3, 2008
Obama reveals fresh donation haul
Democratic presidential hopeful Barack Obama says he raised $40m in March to add to his February record...
BBC News - April 3, 2008
Plane crashes in south Surinam
Twenty people are feared dead in a plane crash in a remote gold-mining area of Surinam in South America...
BBC News - April 3, 2008
US set to spend $50bn on HIV
The US House of Representatives passes a bill to triple its spending on the global fight against Aids...
BBC News - April 3, 2008
Airline bomb plot trial begins
Eight British men are accused of planning to bomb passenger planes bound for the US and Canada...
BBC News - April 3, 2008
Chinese Rights Activist Is Jailed
A court sentenced an outspoken human rights advocate to three and a half years in prison, his lawyer said...
New York Times - April 3, 2008
NATO to Endorse U.S. Missile Shield
NATO leaders meeting in Bucharest were set to endorse a planned U.S. missile shield for Europe on Thursday, a senior American official told reporters...
New York Times - April 3, 2008
Playing a Sport With Balls and Bats, but No Pitcher
Cricket has been inaugurated as the New York City Department of Education?s newest league sport...
New York Times - April 3, 2008
Google executive poached by EMI
The record label EMI appoints a senior Google executive to run its digital strategy - the first such post at the firm...
BBC News - April 3, 2008
Nato support for Afghan mission
France agrees to send an extra battalion of troops to eastern Afghanistan, a Nato spokesman says...
BBC News - April 3, 2008
Venezuela 'to tax oil windfall'
Venezuela is preparing to tax what it calls "excessive" oil revenues in order to boost state revenues...
BBC News - April 3, 2008
US apologises over Japan murder
American officials in Japan apologise to the family of a taxi driver, after a US sailor is arrested for the killing...
BBC News - April 3, 2008
State of the Art: A Camera for the Shot You Missed
The FX-1 camera from Casio allows users to snap 60 shots a second, and that?s just the beginning...
New York Times - April 3, 2008
Best Buy Beats Expectations With a Slight Drop in Profit
The nation?s largest consumer electronics retailer, ended its year with a 3 percent drop in fourth-quarter earnings...
New York Times - April 3, 2008
The Latest in Fashion: Pink Slips
Fashion has entered an era in which there is little to no tolerance for a designer who doesn?t sketch a single dress without the bottom line in mind...
New York Times - April 3, 2008
Rise in Wages in Queens Is Almost Highest in U.S.
The wage increase was buoyed by the boom in the travel and transportation business ? much of it dependent on Kennedy International and La Guardia Airports...
New York Times - April 3, 2008
Life?s Work: Dilbert the Inquisitor
There is a continuing effort to turn hiring and promoting into a science...
New York Times - April 3, 2008
Fannie Mae Tightens Loan Standard to Protect Itself
The mortgage buyer has told lenders that it will require a minimum credit score for the loans it buys as it tries to protect itself from record foreclosures sweeping the country...
New York Times - April 3, 2008
Private Sector Reportedly Added 8,000 Jobs in March
Though the gain was small, it was a vast improvement from February?s revised job losses of 18,000 reported by a private employment service...
New York Times - April 3, 2008
Corn Seed Sales Buoy Earnings at Monsanto
Monsanto earned $1.13 billion, or $2.02 a share, in the quarter, ended Feb. 29, up from $543 million, or 98 cents a share, in the period a year earlier...
New York Times - April 3, 2008
Report Says Chevron Owes Billions for Ecuadorean Pollution
An independent environmental expert told a court in Ecuador that the oil company should pay $7 billion to $16 billion in compensation for environmental damage...
New York Times - April 3, 2008
No Shift in Radio Suit
A federal judge refused a request by a group of banks to move a lawsuit filed by Clear Channel Communications and its buyers from state court to the federal system...
New York Times - April 3, 2008
For the Self-Employed, a Year-Round System Will Smooth Tax Time
With April 15 approaching, newly self-employed workers are about to learn an important business lesson ? keeping track of income and expenses is part of the job, too...
New York Times - April 3, 2008
BlackBerry?s Maker Beats Forecasters
Research in Motion reported a fourth-quarter profit that more than doubled and topped analysts? estimates as the company added more than two million subscribers...
New York Times - April 3, 2008
European Union to Review Britain?s Rescue of Bank
The European Commission opened a formal investigation into the bailout of Northern Rock, a process expected to set a precedent on government aid in the European Union...
New York Times - April 3, 2008
Yahoo Updates Mobile Search
The upgrade to Yahoo?s mobile phone software, OneSearch, will allow voice queries and provide more information in results...
New York Times - April 3, 2008
News Corp. Stung by Post-Soviet Politics
News Corp.?s partner, Imedi television, is in danger of losing for failing to broadcast for more than three months since a crackdown by Georgian authorities last autumn...
New York Times - April 3, 2008
Insurer Signals Confidence in Criticized Cholesterol Drug
United Health Group said it will recommend patients continue using Vytorin, despite cardiologists? caution that patients use the drug only if others have failed...
New York Times - April 3, 2008
Factory Orders Fall Again Despite Demand for Aircraft
Orders to American factories fell for a second consecutive month, a worse-than-expected performance that reinforced worries that the risk of recession is rising...
New York Times - April 3, 2008
Lawyer Pleads Guilty in Kickback Scheme
Melvyn I. Weiss, co-founder of a prominent New York law firm, pleaded guilty Wednesday to a racketeering conspiracy charge in a kickback scheme...
New York Times - April 3, 2008
Paulson Urges China to Continue Reforms
The Treasury secretary said he assured Chinese leaders that Washington was resolving its credit crisis but cautioned there would be ?more bumps in the road.?...
New York Times - April 3, 2008
Stocks & Bonds: Investors Pull Back After a Jump in Oil Prices
The major indexes dropped after oil prices shot higher in response to the Energy Department?s report of an unexpected jump in gasoline demand...
New York Times - April 3, 2008
United Cancels 31 Flights for Inspections
United Airlines temporarily removed its fleet of Boeing 777 aircraft from service to allow for inspections, resulting in cancellation of 31 flights, the airline said...
New York Times - April 3, 2008
As Expected, the Chief Operating Officer at MGM Resigns
Rick Sands, the studio?s No. 2 executive for a little more than two years, stepped down to pursue other opportunities...
New York Times - April 3, 2008
Google Cutting 300 Jobs at DoubleClick
In the first sizable layoffs in its history, Google is trimming the work force at the advertising technology company that it acquired recently...
New York Times - April 3, 2008
Court Approves Review of Countrywide Practices
A federal judge has authorized an examination of the mortgage processing systems of the lending giant by bankruptcy investigators seeking evidence that the company systematically abuses borrowers...
New York Times - April 3, 2008
Enron?s Skilling Asks Court to Overturn His Conviction
Attorneys for Jeffrey K. Skilling argued that his actions as chief executive were always for the company?s benefit and should negate his fraud and conspiracy convictions...
New York Times - April 3, 2008
Pratically Speaking: Using the Human Touch to Solve Workplace Problems
Employers are finding sensitive and novel solutions to unusual employee woes...
New York Times - April 3, 2008
Advertising: At NBC, Supersizing the Season
NBC?s promises include fewer reruns, 65 weeks of new shows, the return of favorites like ?E.R.? and ?Friday Night Lights,? and more product placements from sponsors...
New York Times - April 3, 2008
Bill to Regulate Tobacco Moves Forward
The bill, which would give the F.D.A. sweeping authority over the tobacco industry, will move to the full House for a floor vote...
New York Times - April 3, 2008
In Senate, Agreement on Housing
Senate Democrats and Republicans reached a tentative deal on a package of tax breaks, grants and tax-exempt bonds to help homeowners and stabilize the housing market...
New York Times - April 3, 2008
Fed Chief Sees Possible Contraction in First Half
In citing the likelihood of a recession, Ben S. Bernanke said the home mortgage crisis remained the single biggest drag on prospects for a recovery...
New York Times - April 3, 2008
On Line: Clinton?s Persistence Could Help Obama
For someone supposedly in a heap o? trouble, Senator Hillary Rodham Clinton is looking pretty relaxed these days...
New York Times - April 3, 2008
With a New Knicks Chief, the Old One Is in Limbo
With Donnie Walsh officially installed as the latest Knicks savior, Isiah Thomas?s future with the team is unclear...
New York Times - April 3, 2008
China Confirms Protests by Uighur Muslims
In the northwestern region of Xinjiang, Uighur Muslims protested Chinese rule last month even as Tibetans rioted in the southwest, Chinese officials said...
New York Times - April 3, 2008
A Stormy Decade for Citi Since Travelers Merger
The merger of Citicorp and Travelers, a deal that created a financial supermarket, is looking less visionary as the behemoth lumbers from one crisis to another...
New York Times - April 3, 2008
Jay-Z Deal Offers New Model for Music Sales
Superstar rapper Jay-Z is on the verge of closing a $150 million deal with with the concert giant Live Nation that rivals the biggest music contracts ever awarded...
New York Times - April 3, 2008
Mugabe Foes Win Majority in Zimbabwe
President Robert G. Mugabe?s ruling party lost control of the nation?s Parliament. Will the presidency be next?...
New York Times - April 3, 2008
NATO Allies Oppose Bush on Georgia and Ukraine
President Bush?s position on NATO?s ties with Georgia and Ukraine contradicts German and French views...
New York Times - April 3, 2008
New Bill May Speed U.S. Visas for Artists
As the House of Representatives voted this week to speed up the visa approval process for some foreign artists and entertainers, the heads of arts organizations said attention was finally being paid to the real problem: the time, money and complexity involved in getting visas for lower-profile artists...
New York Times - April 3, 2008
White House Memo: In Economic Drama, Bush Is Largely Offstage
President Bush is appearing more detached from the nation?s economic reality, focusing on foreign affairs as others speak for his administration...
New York Times - April 3, 2008
Unsold Homes Tie Down Would-Be Transplants
The housing slump is distorting the normal working of the American job market, restricting workers? ability to pursue better career opportunities...
New York Times - April 3, 2008
Skin Deep: A Girl?s Life, With Highlights
Hair treatments like full-color dye plus highlights, once reserved for women with salaries and mortgages, have increasingly become the norm for pre-pubescent girls...
New York Times - April 3, 2008
The DNA Age: Defense Lawyers Fight DNA Samples Gained on Sly
D.N.A. gathered surreptitiously helps get guilty verdicts, but critics say the practice violates privacy rights...
New York Times - April 3, 2008
U.S. Cites Planning Gaps in Iraqi Assault on Basra
Interviews suggest that Iraq?s Prime Minister Nuri Kamal al-Maliki overestimated his military?s abilities and underestimated the scale of the resistance in Basra...
New York Times - April 3, 2008
Mission launched for Betancourt
A humanitarian mission begins to bring urgent medical aid to a sick hostage held by rebels in Colombia...
BBC News - April 3, 2008
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