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CompareCC News Archive Listing for Business during 2007-03-28.
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Economix: Earth?s Climate Needs the Help of Incentives
 
Congress seems poised to pass a bill to deal with climate change, but some ideas would do very little to change the situation.
Upgraded Version of Xbox 360 to Be Introduced by Microsoft
 
The new version is an appeal to an elite class of hard-core game players who would like a little more of everything.
Advertising: Marketers, Gingerly, Bite at Parody Bait
 
Heeb, a magazine marketed to young, urban Jews, ran parody ads that became so popular that the magazine has turned into a ?quasi ad agency.?
Rosneft Wins Yukos Stake in 4-Minute Sale
 
The Russian state oil company Rosneft won an auction for assets of Yukos, tightening the Kremlin?s control of energy industries in the country.
New Effort to Tap Technology to Aid the Service Economy
 
The creation of the Service Research and Innovation Initiative represents the latest step to promote an emerging field called ?service science.?
Christmas club safeguards planned
 
Plans to safeguard customers of Christmas savings clubs are to be announced by the government.
HP sues Acer for patent breach
 
Reuters - Hewlett-Packard Co. said it had sued Taiwan computer maker Acer Inc. for patent infringement, pressuring Acer shares.
Feds probing "potential fraud" at Beazer
 
Reuters - Authorities are investigating the lending practices at Beazer Homes USA Inc. , BusinessWeek reported on Tuesday, sending shares in the sixth largest U.S. home builder almost 17 percent lower.
Oil price rises on Iran tension
 
Oil prices jump by more than a dollar a barrel as worries over tensions between the West and Iran increase.
ABN Amro opposes break-up plan
 
ABN Amro asks shareholders to oppose proposals from a hedge fund to reorganise the bank.
Rate rises 'cooling house prices'
 
House price inflation slowed in March suggesting that recent rate rises are having an effect, the Nationwide says.
Boots unveils £65m rebrand plan
 
Alliance Boots announces plans to rebrand its UK pharmacies and says it is on track to hit profit targets.
Sainsbury's boosted by sales rise
 
Takeover target Sainsbury's reports better-than-expected sales growth for the three months to March.
Google agrees mobile deal with LG
 
LG Electronics reaches a deal with search engine Google to let customers access the site from its mobile phones.
Sales rise boosts Sainsbury's
 
Takeover target Sainsbury's reports better-than-expected sales growth for the three months to March.
EU in court move over Endesa bid
 
The European Commission takes legal moves against Spain for interfering in E.On's bid for Spanish utility Endesa.
Italy's Enel sees drop in profits
 
Italian power company Enel, locked in battle for coveted Spanish peer Endesa, posts a 22% drop in 2006 profits.
Google agrees LG mobile deal
 
LG Electronics reaches a deal with search engine Google to let customers access the site from its mobile phones.
Beazer Homes cooperating with probe
 
Reuters - Beazer Homes USA Inc., the sixth-largest U.S. homebuilder, on Wednesday said it is cooperating with federal prosecutors in a probe relating to its mortgage business.
General Motors will not bid for Chrysler: source
 
Reuters - General Motors Corp. is unlikely to make a first-round bid for DaimlerChrysler AG's (DCXGn.DE) Chrysler unit, leaving just private equity firms and auto-parts supplier Magna in the running, a source familiar with the matter said on Wednesday.
Union group balks at UAL executive compensation
 
Reuters - News that Glenn Tilton, chief executive of UAL Corp. , earned $39.7 million in 2006 drew an angry protest from workers at UAL's United Airlines on Tuesday, with unions demanding their "fair share."
Futures fall before Bernanke
 
Reuters - Stock futures declined on Wednesday, hit by concerns about Iran that pushed crude oil prices sharply higher and nervousness before testimony from the Federal Reserve chairman.
ABN AMRO Urges Shareholders to Reject Breakup
 
Beazer cooperating with probe
 
Reuters - Beazer Homes USA Inc., the sixth-largest U.S. home builder, on Wednesday confirmed it is cooperating with federal prosecutors in a probe relating to its mortgage business.
Durable goods weaker than expected
 
Reuters - Orders for U.S.-made big-ticket items were weaker-than-expected in February as the world's richest economy hit hard by troubles in the housing sector set off the year at a slower pace, a government report on Wednesday showed.
Wall Street drops ahead of Bernanke
 
Reuters - Stocks fell on Wednesday, pressured by escalating tensions between Iran and the West and caution before testimony from Federal Reserve Chairman Ben Bernanke.
Circuit City to explore unit sale in cost-cutting
 
Reuters - Consumer electronics retailer Circuit City Stores Inc. said on Wednesday it will explore a possible sale of its Canadian unit InterTAN Inc. and replace 3,400 employees with lower-paid workers in a cost-cutting move, sending its shares up 2.5 percent.
Fed Chairman Says ?Uncertainties? Have Grown
 
But Ben S. Bernanke reiterated his view that the United States economy is likely to expand at a moderate pace.
Porsche Completes Purchase of More Volkswagen Shares
 
Wall Street reacts to Fed caution
 
US stocks tumble after Federal Reserve chairman Ben Bernanke says economic uncertainty has risen.
Oil hovers at $65 on Iran fears
 
Oil prices hover around $65 a barrel, with the market nervous over rising tensions between the West and Iran.
US 'no longer technology king'
 
The United States has lost its status as the world's engine of technology innovation, the World Economic Forum says.
Italians held in EU fraud probe
 
Three Italians, including an EU official, are arrested as part of a corruption probe involving the EU Commission.
Siemens executive in custody
 
A Siemens board member, arrested in connection with a probe into alleged bribery, is kept in custody.
Banking charges 'decrease'
 
Fees paid for banking services around the world fell last year, a survey says, but there were big variations between countries.
Web ad spend overtakes press
 
Spending on UK internet adverts jumps 41.2% in 2006 to overtake newspaper ad expenditure, a report says.
Hamper scheme cash protected
 
Money paid into Christmas savings schemes, such as the failed Farepak hamper firm, will now be protected.
Jessops battered by new warning
 
Shares in photography retailer Jessops plunge 70% as the company issues its second profits warning in four weeks.
Beazer facing widespread probe
 
Reuters - Beazer Homes USA Inc., the No. 6 U.S. home builder, said on Wednesday it received a request for documents from federal prosecutors in a probe relating to its mortgage business, sending its shares down as much as 11.8 percent.
Indexes drop after Bernanke comments
 
Reuters - Stocks fell sharply on Wednesday after Federal Reserve Chairman Ben Bernanke cast doubt about a recovery in housing and said uncertainties surrounding the economic outlook had increased.
Boeing plans to introduce 787 on 7/8/07
 
Reuters - Boeing Co. plans to debut its much-anticipated 787 Dreamliner model on July 8 at an event at its assembly plant in Everett, Washington, the plane maker said on Wednesday.
Housing weakness not yet hitting broader US economy: Bernanke
 
AFP - Federal Reserve chairman Ben Bernanke said Wednesday a slump in the US housing market has not yet spilled over to the broader economy, but did not rule out the possibility of a more severe slowdown.
Alps at hand for Tesco cheap CDs
 
Tesco moves its CD and DVD warehouse from Jersey to Zurich to keep using a controversial tax loophole.
New Century cuts Freddie Mac tie
 
Reuters - New Century Financial Corp. , the troubled subprime mortgage lender, said it ended its relationship with mortgage financier Freddie Mac , and that "several" of its own lenders plan to sell loans that had backed $17.4 billion of credit lines.
Electronic Clearing House in pact with prosecutors
 
Reuters - U.S. prosecutors said on Wednesday they had reached an agreement to not file charges against payment processor Electronic Clearing House Inc. , saying the company is cooperating with the government's probe into Internet gambling.
Circuit City to explore options; ax workers
 
Reuters - Circuit City Stores Inc. said it has hired Goldman Sachs to explore strategic options for a possible unit sale and will replace 3,400 store employees with lower-paid workers, sending its shares up on Wednesday.
Former Qwest Chief Knew U.S. Fiber Optic Needs
 
Jurors heard testimony about the possibility of secret government contracts that gave Qwest?s chief hope for the telephone company?s future.
Bernanke, Greenspan quotes
 
AP - Federal Reserve Chairman Ben Bernanke was asked Wednesday whether the economy will slip into recession in light of recent remarks by his predecessor, Alan Greenspan, that a recession is possible this year.
State of the Art: The Sermon on the Tapes
 
When old media formats die, there are ways to bring your Super 8 films, VHS tapes and 8-tracks into the DVD world.
Brazil's Gol to buy rival Varig
 
Brazilian budget airline Gol unveils plans to buy its struggling rival Varig for $275m (£140m).
Iran worries drive oil prices up
 
Oil prices close above $65 a barrel, with the market nervous over rising tensions between the West and Iran.
US STOCKS-Wall St indexes drop on Bernanke, data, oil
 
Reuters - U.S. stocks ended lower on Wednesday after Federal Reserve Chairman Ben Bernanke said he was uncomfortable with inflation and uncertain about the economy, compounding the impact of a weak durable goods report.
AmBev to invest $2.4 billion in Brazil over 5 years
 
Reuters - AmBev (AMBV4.SA), the Brazilian unit of global brewer InBev , said it would invest about 5 billion reais ($2.4 billion) over the next five years in Brazil to expand in a growing market.
Pennsylvania's 2 largest health insurers to merge
 
Reuters - Pennsylvania's two largest health insurers, Highmark Inc. and Independence Blue Cross, said they have agreed to merge, creating the third-largest Blue Plan health insurer in the United States.
Manageable Threats Seen by Fed Chief
 
Ben S. Bernanke said he did not expect subprime lending problems to damage the overall economy.
Searching for Ads Offline
 
Google?s efforts to sell radio and TV ads are mixed, suggesting that it is far from becoming a credible player in traditional media.
Income Gap Is Widening, Data Shows
 
The top 1 percent ? those with incomes of more than $348,000 in 2005 ? received their largest share of national income since 1928.
Ex-Auditor Says He Was Told to Be Lax on Oil Fees
 
The former auditor accused senior Interior Department officials of prohibiting him from recovering millions in underpayments.
Intel Plans Faster Chips That Also Save Power
 
The new generation of chips would help Intel catch up with its archrival and consolidate performance categories where it already leads.
Citigroup expands in China
 
Reuters - Citigroup Inc. plans to double its number of outlets in China this year to more than 30, Chairman and Chief Executive Charles Prince said on Thursday.
China's Country Garden eyes $1.66 bln HK IPO: sources
 
Reuters - Chinese developer Country Garden was looking to raise as much as US$1.66 billion after setting the price range for its Hong Kong initial pubic offering at HK$4.18 to HK$5.38 per share, sources close to the deal said on Thursday.
Shell drops Gulf LNG port
 
Reuters - Shell U.S. Gas and Power (RDSa.L) is discontinuing plans to build a liquefied natural gas (LNG) terminal offshore of Louisiana because import capacity will be sufficient without it, the company said Wednesday.
Bare-Knuckle Enforcement for Wal-Mart?s Rules
 
Wal-Mart is known internally for its no-expense-spared investigations of employees who break its ironclad rules.
Mergers and Acquisitions No Longer Shock Japanese
 
Corporate takeovers in Japan have risen sharply in the last three years, becoming a preoccupation even among ordinary people.
Merck Cancels Work on a New Insomnia Medication
 
Unusual side effects ? including hallucinations and disorientation ? showed up in the studies. The drug also failed a trial of its efficacy.
The Franchise Way to Play the Population Trend
 
Businesses geared toward serving the aging baby boomer population are good places for entrepreneurs to look for opportunities.
South Korea Is Looking Nervously Over Both Shoulders
 
Caught between two exporting powerhouses, South Korea hopes a trade deal with the U.S. will give it an edge in trade.
Colleges Hiring Lenders to Field Queries on Aid
 
Students who call colleges with financial aid questions sometimes end up talking to employees of loan companies.
Illinois Questions Ratings Agencies Gave to Utilities
 
The state?s attorney general said Moody?s Investors Service and Standard & Poor?s appear to be manipulating reports to help electric utilities in the state.
2 Suitors for Tribune Co. Renew Their Interest
 
Tribune is said to have responded to a request for additional financial information from Eli Broad and Ronald Burkle.
Economic Scene: ?Irresponsible? Mortgages Have Opened Doors to Many of the Exclu
 
Almost every new form of mortgage lending that expands the pool of people who qualify has been greeted by critics who say it harms consumers.
Chief Warns Automakers That U.A.W. Won?t Budge on Health Care or Jobs Bank
 
The union?s president has seemingly declared the two crucial issues as off-limits for bargaining with Detroit?s automakers.
Libel Lawsuit by WPP Chief Is Settled for $235,000
 
The settlement ends a suit filed against two Italian ad executives which revealed details of the WPP Chief?s private life.
Advertising: Study Says Junk Food Still Dominates Youth TV
 
Among the ads aimed at children and teenagers, 72 percent are for candy, snacks, sugary cereals or fast food.
No Bonuses for Top G.M. Executives
 
For a second year, General Motors says that about 20 top managers, including the chief executive, will not get cash bonuses.
Porsche Makes a Bid for the Rest of Volkswagen
 
The $47.7 billion bid was aimed at leaving Porsche with a controlling stake of Volkswagen rather than full ownership.
Dutch Bank Favors Barclays Bid
 
ABN Amro urged shareholders to reject proposals to break up or sell the company, as it pursued a merger with Barclays of Britain.
Circuit City to Cut 8% of Staff and May Sell Canadian Unit
 
The company will lay off about 3,400 workers, or 8.5 percent of its in-store staff, and hire lower-paid employees to replace them.
Growth in Demand for Durable Goods Misses Expectations
 
Demand increased but by less than economists expected, raising new worries about the strength of the economy.
Stocks & Bonds: Shares Fall as Hopes of a Rate Cut Fade
 
The Dow Jones industrials fell nearly 100 points, the third consecutive session of declines.
Prosecutors Say Ex-Qwest Chief Tried to Hide Assets
 
Prosecutors said the former chief of Qwest transferred $90 million in stock into accounts held solely by his wife.
Blackstone Sells Property
 
The Blackstone Group agreed to sell 10 buildings in Austin, Tex., to Thomas Properties Group for $1.15 billion.
Deal for Parts Maker
 
Cerberus Capital Management agreed to buy the bankrupt auto parts maker Tower Automotive in a deal valued at about $1 billion.
Health Insurer Merger
 
Pennsylvania?s two largest health insurers agreed to merge in a plan that gives the two nonprofits control over most of the state?s health insurance market.
Sports Business: Strat-O-Matic Owner Makes A Move Toward an Investor
 
Hal Richman and his family are seeking an investor to buy a significant part of Strat-O-Matic, which began with the baseball board game Richman invented as a teenager.
Citigroup expands in China, mum on job cut reports
 
Reuters - Citigroup Inc. plans to double its number of branches in China this year to more than 30, Chairman and Chief Executive Charles Prince said on Thursday.

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