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US News Archive for May 2008:
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UBS to Cut 5,500 Jobs After Loss
The job cuts came as the largest Swiss bank announced a first-quarter loss of about $10.9 billion...
New York Times - May 6, 2008
Tight Credit Worries for a Hotel and Mall Operator
The Lightstone Group, which made one of the last big real estate deals before the credit squeeze, has defaulted on loans for two apartment complexes and is trying to renegotiate other loans...
New York Times - May 6, 2008
China-India Rivalry Possible in African Telecom Deal
The battle for the African telecommunications company, the MTN Group, could come down to a clash between the world?s largest, and fastest growing, emerging markets...
New York Times - May 6, 2008
Revenue Up, but Income Falls at Cisco
Cisco, a bellwether stock for the technology industry, reported that net income in the third quarter declined 5.4 percent, to $1.8 billion, but that revenue rose 10 percent...
New York Times - May 6, 2008
Theme Parks Help Disney?s Quarter
The media conglomerate, under scrutiny as an indicator of whether weakness is seeping deeper into the economy, said that operating income in its parks and resorts unit rose 33 percent...
New York Times - May 6, 2008
City Room: Ultimate Fighters Want Ban Lifted
Fighters with the Ultimate Fighting Championship called on state legislators to reverse a ban that was imposed 11 years ago on their sport -- a sport that many consider too dangerous...
New York Times - May 6, 2008
Panel Subpoenas Close Cheney Aide
A House subcommittee investigating the Bush administration?s approval for harsh interrogation methods voted to issue a subpoena to David S. Addington...
New York Times - May 6, 2008
Gas Prices Expected to Peak in June
As oil futures rose above $122 a barrel, the Energy Department said it expected gasoline prices to peak at a national average of $3.73 a gallon in June...
New York Times - May 6, 2008
Flood of Attack Ads on Final Day
The attack ads reached a crescendo the likes of which had not yet been seen in an already hard-hitting race...
New York Times - May 6, 2008
As Magnitude of Myanmar Loss Grows, Aid Arrives
An international relief operation was mobilized as the government raised its estimate of the death toll to 22,500 and reported 41,000 still missing...
New York Times - May 6, 2008
F.B.I. Raids Office of Special Counsel
Scott J. Bloch faces an investigation into whether he mixed politics with official business...
New York Times - May 6, 2008
Dozens of Arrests in University Drug Sting
Nearly 100 people were arrested after a drug ring at San Diego State University was broken up, the D.E.A. said...
New York Times - May 6, 2008
Olmert Tied to New York Developer in Scandal
A Long Island philanthropist is at the center of a growing scandal around Israel?s prime minister, Ehud Olmert...
New York Times - May 6, 2008
Indiana Race Tight, but Clinton Holds Early Lead
The close contest could determine whether Hillary Rodham Clinton can justify continuing to compete with Barack Obama...
New York Times - May 6, 2008
The Caucus: Live Blogging
About three-fourths of the voters in Indiana said they had made up their minds before the last week...
New York Times - May 6, 2008
Sales boost for tech giant Cisco
Sales rise at internet equipment firm Cisco, alleviating concerns about a US economic slowdown...
BBC News - May 6, 2008
US charges Russian 'arms dealer'
The US charges alleged Russian arms dealer Viktor Bout with terrorism for trying to sell arms to Colombia's Farc...
BBC News - May 6, 2008
Georgia state to execute convict
A Georgian man is to be the first US convict to be executed since lethal injection was ruled constitutional...
BBC News - May 6, 2008
Sara Lee Profit Up on Higher Prices and Weak Dollar
The food and household products manufacturer said that its third-quarter profit doubled, but the results fell short of Wall Street expectations...
New York Times - May 6, 2008
Qwest Profit Falls 35% on Higher Taxes
The telecommunications company said it earned $157 million in the first quarter, down from $240 million a year ago, on sharply higher tax expenses...
New York Times - May 6, 2008
Emerson Electric Beats Estimates
The company said second-quarter earnings rose 11 percent on strong international demand from the energy sector and global sales of its network power and industrial automation systems...
New York Times - May 6, 2008
Molson Coors Profit Tops Expectations
The maker of Molson Canadian and Coors Light beer said first-quarter net income was up sharply, helped by a lower tax rate and the weak dollar...
New York Times - May 6, 2008
Estee Lauder Profit Falls as Sales Weaken
The cosmetics company reported third-quarter profit of $90.1 million, down 4 percent from the same period a year ago, as sales slowed amid a weakening retail environment...
New York Times - May 6, 2008
D.R. Horton Swings to Loss on Impairment Charges
The nation?s largest homebuilder posted a second-quarter loss of $1.31 billion as a sustained housing slump forced it to take hefty charges to write down the value of its inventory...
New York Times - May 6, 2008
Legg Mason Posts First Loss
The asset manager posted a fourth-quarter loss of $255.5 million as it took a big charge related to a bailout of funds exposed to risky securities and suffered outflows from its funds...
New York Times - May 6, 2008
NYSE Euronext Profit Triples on Higher Volumes
The trans-Atlantic stock exchange operator said it earned $230 million in the first quarter, reflecting the addition of Euronext?s activities to those of the parent of the New York Stock Exchange...
New York Times - May 6, 2008
Oil Hits Record Above $121
The spike in prices was fueled by worries about threats to supply and a weakening of the dollar as well as by hopes that the U.S. economy will be spared a sharp downturn...
New York Times - May 6, 2008
Stocks Rise Even as Oil Soars
Wall Street reversed early losses to trade modestly higher, as investors monitored the record oil prices but laid bets that the U.S. economy and companies are in recovery mode...
New York Times - May 6, 2008
Well: Keeping Children Indoors at Playtime
Day care workers explain the surprising reasons they keep kids indoors for playtime...
New York Times - May 6, 2008
Baghdad Bureau: Iraq?s Musicians
Video Erica Goode's report on the oud and its vast repertoire of traditional Iraqi melodies includes video of a musician playing the pear-shaped instrument. You can also find more oud music online from Ahmed Mukhtar and Rahim Alhaj, whose album was recently nominated for a Grammy. music...
New York Times - May 6, 2008
A Challenge Getting Relief to Myanmar?s Remote Areas
Bad roads and a lack of cooperation from the military government could hamper aid efforts...
New York Times - May 6, 2008
States Get In on Calls for a Gas Tax Holiday
State gas taxes often add far more to the price of gas than the 18.4-cent federal excise tax...
New York Times - May 6, 2008
City Room: Let 18,300 Trees Bloom
With enough money to plant 18,300 trees, the head of the city's street-tree planting program discusses the best ones to plant in a tough urban environment -- and the ones the city avoids...
New York Times - May 6, 2008
The Rail: Are Horses Treated Better in Europe?
The high-profile fatal breakdowns of Eight Belles, Barbaro and George Washington have prompted calls for change, along with plenty of comparisons to the sport in Europe, with varying degrees of accuracy...
New York Times - May 6, 2008
Doubts Raised on Mortgage Agencies as Losses Mount
Regulators are asking whether Freddie Mac and Fannie Mae, which reported a $2.2 billion first-quarter loss on Tuesday, will soon need saving themselves...
New York Times - May 6, 2008
Uma Thurman?s Pursuer Is Found Guilty of Stalking
A University of Chicago graduate turned drifter said that he was engaged ?in a game of cat and mouse? with the actress...
New York Times - May 6, 2008
Aid Flows to Myanmar as Death Toll Rises to 22,500
An international relief operation was being mobilized as the government raised its estimate of the death toll and reported 41,000 people still missing...
New York Times - May 6, 2008
The Caucus: What to Watch For
This is the biggest primary night left in our long series. But it does not have the feel of a season finale...
New York Times - May 6, 2008
Some Signs of a Recovery for the Dollar
After six years of stumbling against the euro, the dollar may be showing signs of getting back on its feet...
New York Times - May 6, 2008
US business bankruptcies rise
US commercial bankruptcy filings jumped 49% in April from a year earlier, court records show...
BBC News - May 6, 2008
Third loss for US mortgage giant
US mortgage finance firm Fannie Mae posts its third consecutive quarterly loss as the housing slump deepens...
BBC News - May 6, 2008
Russia and US strike nuclear deal
Russia and the US sign a key deal on civilian nuclear power which is set to expand bilateral trade...
BBC News - May 6, 2008
G.E. Medical Device Plant Cleared
The F.D.A., which more than a year ago forced the closure of a G.E. surgical equipment plant in Salt Lake City because of quality problems, allowed it to re-open...
New York Times - May 6, 2008
Microsoft to Put Voice-Activation Software in Hyundais
Microsoft already has a deal with Ford to put its Sync system, which uses voice activation technology to operate cellphones and play digital music, in some of its vehicles...
New York Times - May 6, 2008
Mildred Loving, Who Fought Marriage Ban, Dies
Mrs. Loving?s anger over being banished from Virginia for marrying a white man led to a landmark Supreme Court ruling overturning state miscegenation laws...
New York Times - May 6, 2008
As Myanmar Reels, Election Is Delayed in Some Areas
Shaken by a cyclone that may have killed 14,000 people, the government postponed a constitutional referendum in the most damaged areas...
New York Times - May 6, 2008
Family Science Project Yields Surprising Data About a Siberian Lake
Generations of Russian scientists have produced an extraordinary record of the largest body of fresh water on earth...
New York Times - May 6, 2008
UBS to Cut 5,500 Jobs After First-Quarter Loss
The largest Swiss bank said it expected to cut 5,500 jobs as it announced a first-quarter loss of about $10.9 billion...
New York Times - May 6, 2008
For Primaries in Two States, a Variety of Scenarios
For political, demographic and mathematical reasons, Tuesday?s primaries in North Carolina and Indiana could reshape the race...
New York Times - May 6, 2008
Alstom denies bribe allegations
French engineering group Alstom denies it is being investigated into allegations of making bribe payments...
BBC News - May 6, 2008
Guatemala halts foreign adoptions
Guatemala suspends more than 2,000 pending foreign adoptions for at least a month to check for irregularities...
BBC News - May 6, 2008
Dealbook: How Not to Make a Deal
Yahoo may look like the big loser. But here?s a lesson for Microsoft: When you make an unsolicited offer, be prepared to win...
New York Times - May 6, 2008
Target in Deal to Raise Cash
The Target Corporation said that it had struck a deal to sell an interest in credit card receivables to JPMorgan Chase for an initial investment of $3.6 billion...
New York Times - May 6, 2008
T-Mobile Offers 3G in New York
T-Mobile USA?s third-generation wireless network is available in New York City. Web browsing and downloading will be twice as fast with it, though few phones can use it...
New York Times - May 6, 2008
Findings: Appeasing the Gods, With Insurance
We may not believe in fate, research shows, but we also refuse to tempt it...
New York Times - May 6, 2008
Teamsters Union Defends Its Endorsement of Obama
The Teamsters union denied that its decision was in any way tied to the senator?s statement that federal supervision of the union had run its course...
New York Times - May 6, 2008
Hit Movie Helps Marvel Stock Soar
Shares of the comic book publisher, soared on Monday after ?Iron Man,? its first self-produced film, raked in more than $100 million in ticket sales over the weekend...
New York Times - May 6, 2008
Leading Indian Telecom Seeking Deal in South Africa
The deal, which could be worth more than $40 billion in its entirety, is the latest international foray by an Indian company...
New York Times - May 6, 2008
Bush Appointee to S.E.C. Announces His Departure
Paul S. Atkins, one of three Republican members of the Securities and Exchange Commission, said he would leave the agency after his term ends next month...
New York Times - May 6, 2008
Service Sector Improved Its Hiring in April, a Survey Finds
Service companies added jobs last month for the first time this year, activity slowed down at the nation?s service industries as inflation further squeezed businesses...
New York Times - May 6, 2008
Wal-Mart Expands Program Providing Drug Discounts
Wal-Mart announced it would expand its discounted prescription drug program to offer 90-day supplies for $10 and add several women?s medications at a discount...
New York Times - May 6, 2008
Aflac Investors Get a Say on Executive Pay, a First for a U.S. Company
The insurer has become the first American company to give shareholders a say on pay ? a vote on top management?s compensation...
New York Times - May 6, 2008
Strike Hits G.M. Plant That Makes a Big Seller
General Motors workers who build the Chevrolet Malibu, one of G.M.?s most popular and important new vehicles, went on strike Monday at a plant in Kansas...
New York Times - May 6, 2008
Morgan Stanley to Cut 5% of Staff
Morgan Stanley, which has cut some 3,000 jobs since October. A further 5 percent reduction would affect roughly 2,000 jobs...
New York Times - May 6, 2008
Stocks & Bonds: A Mild Retreat as Oil Surges to a Record
Wall Street pulled back on Monday after Microsoft decided to withdraw its bid for Yahoo and oil prices rose to a record...
New York Times - May 6, 2008
Oil Touches $120; Gasoline Drops a Penny
Though retail gas prices fell more than a cent over the weekend, the advance in oil prices increased the chances that prices at the pump would resume rising...
New York Times - May 6, 2008
Advertising: Calling on Tourists to Come for New York City, but Stay for the State
The ?I love New York? slogan is being updated to reflect everything from the new media choices consumers are making to higher gas prices and other travel expenses...
New York Times - May 6, 2008
Free Wi-Fi, but Not for All
As travelers demand free Internet access, and providers seek revenue, a compromise is emerging to offer both free and paid options...
New York Times - May 6, 2008
Frequent Flier: The In-Flight Movie Is Always Better When It?s Your Son?s
Part of the reason for my obsession with air travel is that I come from Wichita, Kan., the ?air capital of the world.? Half the airplanes in the world were once made in my hometown...
New York Times - May 6, 2008
On the Road: Run a Red Light, It Goes on the Tab
Rental car companies have a brilliant, and perhaps a bit spooky, way to handle minor traffic ticket fines you might receive in one of their cars: put them on your bill...
New York Times - May 6, 2008
New Titans of Las Vegas Reinvent Old Formula
Building on their family fortunes, young titans are putting a new face on Vegas and catering to the 40-and-younger crowd...
New York Times - May 6, 2008
Chief of Random House Said to Be Stepping Down
Peter W. Olson, one of the most powerful figures in American book publishing, will step down amid mounting pressure over declining profits at Random House...
New York Times - May 6, 2008
Bernanke Urges Flexibility in Mortgage Regulation
The Federal Reserve chairman urged Congress to give federal agencies ?greater latitude? to take an innovative approach to dealing with the housing crisis...
New York Times - May 6, 2008
Market Place: Acquisition of Lender Is Possibly in Jeopardy
Wall Street is buzzing that Bank of America?s offer for Countrywide Financial Corporation, the troubled mortgage giant, may be unraveling...
New York Times - May 6, 2008
Southwest Is Waiting in the Wings
Southwest Airlines sees an opportunity for its own growth if United and US Airways merge and cut back flights to reduce costs...
New York Times - May 6, 2008
China Petrochemical Project Opposed
It was the latest in a series of rare but increasingly ambitious protests against government-backed industrial projects on environmental and health grounds...
New York Times - May 6, 2008
Police Data Shows Increase in Street Stops
New York City police officers stopped more people on the streets during the first quarter of 2008 than during any quarter since data has been reported...
New York Times - May 6, 2008
States Get In on the Calls for a Gas Tax Holiday
State gas taxes often add far more to the price of gas than the 18.4-cent federal excise tax and state-level lawmakers and candidates have been getting into the tax-cutting act...
New York Times - May 6, 2008
Google Ends Microsoft?s Yahoo Search
In the failed Microsoft-Yahoo marriage it was Google that played the odd dual role of unwitting matchmaker and self-interested spoiler...
New York Times - May 6, 2008
In Democracy Kuwait Trusts, but Not Much
Overshadowed by the economic achievements of its neighbors, all absolute monarchies, Kuwaitis are wondering whether democracy is living up to its promises...
New York Times - May 6, 2008
Sidebar: In One Flaw, Questions on Validity of 46 Judges
A problem in the way patent judges are appointed at least arguably invalidates every decision of the patent court decided by a panel that included at least one judge appointed after March 2000...
New York Times - May 6, 2008
Economic Troubles Affect the Vegas Strip
The gambling center seemed immune to the economic swings of the rest of the country. But the city built on excess is seeing a troubling sign: moderation...
New York Times - May 6, 2008
For Two Primaries, Several Scenarios
For political, demographic and mathematical reasons, Tuesday?s primaries could reshape the Democratic race...
New York Times - May 6, 2008
Doubts Raised on Big Backers of Mortgages
With foreclosures rising, policy makers are asking whether Fannie Mae and Freddie Mac, the would-be saviors of the housing market, will soon need saving themselves...
New York Times - May 6, 2008
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