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Top Hedge Fund Managers Earn Over $240 Million
A ranking of the top 25 earners shows that for the hedge fund elite, the rich are getting much richer in a hurry.
A Difficult Annual Times Meeting for Sulzbergers
With The New York Times Company?s stock performance lagging, the Sulzberger family is bracing for a contentious meeting today.
David Halberstam, 73, War Reporter and Author, Is Killed in a Car Crash
Mr. Halberstam, a Pulitzer Prize-winning journalist, wrote more than 20 books on topics as varied as the Vietnam War and basketball.
Kleiner Perkins to Expand With Two Offices in China
The technology investment firm is opening offices in Shanghai and Beijing and plans to invest a $360 million fund in Chinese start-ups.
Wolfowitz hires lawyer to present his case
Reuters - World Bank President Paul Wolfowitz
has hired a high-profile lawyer who hopes to present to a
special bank committee Wolfowitz's case that he was not
unethical in directing a promotion for his girlfriend.
Apple ex-CFO settles with SEC: report
Reuters - Computer maker Apple Inc.'s
ex-chief financial officer Fred Anderson has settled with the
U.S. Securities and Exchange Commission on his alleged
participation in the backdating of stock options, the Wall
Street Journal reported on its Web site on Monday.
David Halberstam, 73, Reporter and Author, Dies
Mr. Halberstam, a Pulitzer Prize-winning journalist, wrote more than 20 books on topics as varied as the Vietnam War and basketball.
Toyota 'world's largest carmaker'
Japan's Toyota overtakes US rival General Motors to become the world's biggest carmaker, the company says.
KKR raises Boots offer to £11.1bn
The takeover battle for Alliance Boots hots up after one of the chemist chain's main suitors raised its offer.
Nissan to cut 1,500 jobs in Japan
Nissan aims to cut 1,500 jobs through an early retirement programme in Japan to boost lacklustre performance.
BP profits decline 17% to $4.36bn
BP reports a 17% profit dip during the first three months of the year, hurt by lower prices and higher costs.
Ranson in £90m Man City bid
Former Man City full-back Ray Ranson makes a £90m offer to buy the club.
Newmont cleared in Indonesian pollution case
Reuters - An Indonesian court on
Tuesday cleared the local unit of Newmont Mining Corp. and the
unit's American president of dumping toxic waste into a bay
near a gold mine in North Sulawesi and making people sick.
Qantas suitor steps up bid battle
Airline Partners Australia steps up its efforts to woo Qantas investors to accept a takeover offer.
Yell hit by sales pressure in US
Shares in directories firm Yell sink 19% after it says its US sales are set to grow by less than expected this year.
UK public borrowing up in March
Questions are raised about the UK's public finances after figures show a drop in corporation tax during March.
ABF gets Primark and sugar lift
Associated British Foods sees profits rise 5% over the past six months helped by clothing and sugar sales.
China says U.S. piracy case will harm trade ties
Reuters - U.S. complaints to the WTO over
commercial piracy in China will "badly damage" cooperation,
Vice Premier Wu Yi warned on Tuesday, insisting that China has
made great strides in protecting patents and copyrights.
U.S. approves 13 generic versions of sleep drug
Reuters - U.S. health officials have approved
13 cheaper generic alternatives to Ambien, a blockbuster
sleeping pill from France's Sanofi-Aventis , the Food
and Drug Administration said on Monday.
Bank sees 'sharp' inflation drop
Bank of England Governor Mervyn King says that there could be a 'sharp' decline in the UK's rate of inflation.
Public borrowing up in March
UK public borrowing rose in March after a drop in corporation tax revenues, official figures show.
Wall Street set to open flat; data, earnings eyed
Reuters - U.S. stocks are expected to open flat on
Tuesday as markets focus on home sales data to determine the
extent of the weakness in the U.S. housing market, while a
barrage of corporate results is also due.
Whirlpool posts lower net as U.S. demand falls
Reuters - Whirlpool Corp. reported a
slight decrease in first-quarter profit on Tuesday on lower
U.S. demand for appliances amid a slower housing market.
DuPont reports higher first-quarter earnings
Reuters - DuPont Co. , the No. 2 U.S.
chemical company, said on Tuesday that first-quarter profit
rose, driven by significantly higher seed sales, increased
pharmaceuticals income and a favorable currency impact.
Higher aluminum prices lift Alcan profit
Reuters - First-quarter profit rose 32 percent
at Alcan Inc. on higher primary aluminum prices,
and better pricing, product mix and volumes in its downstream
businesses, the company said on Tuesday.
Toyota Overtakes G.M. in Sales for First Time
The first-quarter results mark another milestone in America?s long decline from industrial pre-eminence.
Terra Firma drops Boots bid plan
A group led by private equity firm Terra Firma ends its bid interest in Boots, leaving the way clear for rival KKR.
Japan to ease controls on US beef
Japan agrees a deal that could lead to tough restrictions on US beef imports being lifted, officials say.
Apple options probe reaches court
The ex-chief financial officer (CFO) at computer firm Apple is expected to settle US claims over backdated stock options
Portman members agree merger plan
Members of the Portman building society vote overwhelmingly in favour of a merger with Nationwide.
US mine firm cleared of pollution
A US mining executive and his company, Newmont, are found not guilty of polluting an Indonesian bay.
AT&T posts higher quarterly profit, revenue up
Reuters - Telecommunications service provider
AT&T Inc on Tuesday posted a higher quarterly profit as
revenue rose from growth in its wireless business and its
purchase late last year of BellSouth Corp.
Lockheed profit up on tech systems, one-time gains
Reuters - Lockheed Martin Corp. said on
Tuesday that first-quarter profit rose a greater-than expected
17 percent as the world's largest defense contractor posted
higher sales of information systems for government customers
and had a number of one-time gains.
Whirlpool net falls on lower U.S. demand
Reuters - Whirlpool Corp. reported lower
but better-than-expected first-quarter profit on Tuesday as
strong international appliance sales helped offset declining
U.S. demand.
Boeing shares up on 787 sales worth $7 billion
Reuters - Boeing Co. shares rose before
the opening bell on Tuesday as the company won another batch of
orders, worth more than $7 billion at list prices, for its new
carbon-composite 787 Dreamliner jet.
Plunge in Existing-Home Sales Is Steepest Since ?89
Bad weather and increasing problems in the subprime market led to an 8.4 percent decline in March.
Sharp decline in US house sales
Sales of non-new US homes suffer their largest monthly fall for 18 years, indicating the weakness in the market.
Telecom firm AT&T doubles profit
US telecom group AT&T says takeovers and its strong wireless business have almost doubled first quarter profits.
Portman members OK merger
Members of the Portman building society vote overwhelmingly in favour of a merger with Nationwide.
Existing home sales drop biggest since 1989
Reuters - Sales of existing homes in the
United States dropped 8.4 percent in March, their biggest
tumble in more than 18 years, the National Association of
Realtors said Tuesday in a report that was much weaker than
expected.
April consumer confidence falls to August low
Reuters - Consumer confidence slipped in April
to its lowest since last August, reflecting worries that rising
gasoline prices could ignite inflation and crimp economic
growth, a report showed on Tuesday.
AT&T profit doubles, wireless growth lags
Reuters - AT&T Inc.'s first quarter profit
doubled and beat analyst estimates, helped by the purchase late
last year of BellSouth Corp., but its shares fell 2 percent as
revenue and wireless growth were weaker than expected.
Toyota Tops G.M. in Sales for First Time
The first-quarter results mark another milestone in America?s long decline from industrial pre-eminence.
42% Withhold Votes for Times Co. Directors
The vote was a symbolic protest against the company?s dual ownership structure and lagging stock price.
Virgin orders 'green' Boeing jets
Virgin Atlantic orders 15 of Boeing's Dreamliner jets - the largest European order to date of the aircraft.
Zambia pays 'vulture fund' $15m
Zambia is to pay $15m to settle a debt demand case at London's Hgih Court launched by a so-called 'vulture fund'.
Consumer confidence falls
Reuters - U.S. consumer confidence slipped in
April to its lowest since last August, while sales of existing
homes in March dropped more sharply than in any month since
January 1989, according to reports on Tuesday that offered more
evidence of a weakening economy.
AT&T profit doubles, but wireless growth lags
Reuters - AT&T Inc. said on Tuesday that
first quarter profit doubled and beat analyst estimates, helped
by the purchase late last year of BellSouth Corp., but its
shares fell as much as 2 percent as revenue and wireless growth
were weaker than expected.
Lockheed, Northrop profit up; sales growth slow
Reuters - Lockheed Martin Corp. and
Northrop Grumman Corp. reported higher first-quarter
profit on Tuesday, but failed to trounce bullish Wall Street
forecasts for the booming defense sector, sending their shares
lower.
Labor to better disclose 401
AP - The Bush administration said Tuesday that it will look into ways to help people get information about fees and expenses assessed on 401(k) plans, which can drain hard-earned money from workers' retirement savings.
Former Apple CFO settles with SEC
Reuters - Fred Anderson, former chief
financial officer of Apple Inc. , settled a lawsuit
filed by the U.S. Securities and Exchange Commission related to
the company's stock options plan, his attorney said on Tuesday.
AT&T profit doubles, but wireless lags
Reuters - AT&T Inc. said on Tuesday that
first quarter profit doubled and beat analyst estimates, helped
by the purchase late last year of BellSouth Corp., but its
shares fell as much as 2 percent as revenue and wireless growth
were weaker than expected.
Home sales and consumer confidence slide
AP - The economy provided a sobering reminder Tuesday that consumers are jittery and the housing market is still a major cloud over growth.
Economix: What?s Really Squeezing the Middle Class?
It may seem that layoffs are happening more frequently than they once did and that workers? income is more volatile. The reality may be different.
Charges brought over Apple shares
An ex-manager at Apple faces civil charges over the alleged fraudulent award of share options to bosses.
Vonage celebrates injunction win
A US court overturns an order stopping telecoms firm Vonage signing up new clients amid a row with rival Verizon.
Amazon raises '07 estimates, shares up
Reuters - Online retailer Amazon.com
on Tuesday said its quarterly net profit more than doubled and
raised its earnings and sales outlook for the year, sending its
shares up over 10 percent after hours.
Wal-Mart stake of Helen Walton goes to charity
Reuters - The death of Wal-Mart Stores Inc.
heiress Helen Walton will not require sales of a large
block of the company's shares, her family said in a statement
on Tuesday.
Sun Microsystems' revenue misses, shares fall
Reuters - Computer maker Sun Microsystems
Inc. on Tuesday posted a quarterly net profit versus a
year-ago net loss but revenue fell shy of analysts' estimates
and shares fell about 5 percent.
Funds step away on climate change issues
AP - Investors pressing companies to say more about the possible financial effects of global warming haven't found an ally in large mutual funds.
Votes Withheld for Times Co. Directors
The vote was a symbolic protest against the company?s dual ownership structure and lagging stock price.
U.S. regulator sues ex-Apple lawyer over options
Reuters - U.S. regulators accused Apple
Inc.'s former general counsel of fraudulently
backdating stock options and settled a lawsuit against another
former executive who said he had relied on CEO Steve Jobs'
judgment in handling the questionable grants.
Sun Microsystems revenue misses estimates
Reuters - Computer maker Sun Microsystems
Inc. on Tuesday posted a third quarter net profit
versus a year-ago loss, but revenue fell shy of analysts'
estimates and shares fell about 5 percent.
Sales of Existing Homes Plunge Steeply
An 8.4 percent drop, coupled with lower prices, reflected a housing market that is looking unfriendly to sellers.
AT&T Earnings Top Expectations
The earnings show the potential for growth but also the steep challenges facing AT&T and other telephone companies.
Appeals Court Allows Net Phone Company to Continue Signing Up New Customers
Vonage can sign up new customers as it pursues its appeal of an earlier ruling that it infringed three Verizon patents.
Both Sales and Earnings Rise Sharply at Amazon
Quarterly profit increased 38 percent, citing improving margins in its core retail business and increased sales in categories like electronics and soft goods.
Shareholders Withhold Votes for Times Directors
The vote was a symbolic protest against the company?s dual ownership structure and lagging stock price.
Good 2007 start for Amazon
Online retailer Amazon enjoys a strong start to 2007, its sales rising 32% in the first three months of the year.
Apple ex-CFO links Jobs to backdated options
Reuters - Apple Inc.'s former
finance chief said on Tuesday he relied on Chief Executive
Steve Jobs in the handling of backdated stock options, putting
the spotlight on the company's co-founder in the scandal.
ABN says would consider superior offer to Barclays
Reuters - Dutch takeover target ABN AMRO
said it would consider a superior proposal to its
roughly $87 billion takeover by British bank Barclays Plc
-- but that it has no responsibility to actively
solicit a rival offer.
Move Over G.M., Toyota Is No. 1
The news that Toyota is now the world?s largest carmaker was met in Detroit with anger and a sense of resignation.
No Charges for Apple Over Options
Regulators said they would bring no civil charges against Apple over the backdating of executive stock options.
Sales of Previously Owned Homes Plunge to 1989 Level
Winter weather and newly tightened lending standards probably sped the 8.4 percent drop in March, economists said.
Wall St. Firm Will Settle Sex Bias Suit
Morgan Stanley agreed to pay $46 million to settle a suit by female brokers who said they were discriminated against in how they were trained, promoted and paid.
Russian Energy Giant to Bundle Carbon Credits With Gas Sales
Gazprom will sell carbon dioxide emissions credits that companies in the European Union need in order to burn Gazprom?s fuel.
Square Feet: Trying to Break the Jinx of Chicago?s Block 37
After 20 years of failed development efforts, buildings are finally going up on Chicago?s long-vacant Block 37.
A New Low-Fare Airline on a Web-Only Approach
Skybus Airlines, a start-up based in Columbus, Ohio, that promises some $10 seats on every flight, will begin service on May 22.
Alcatel-Lucent Warns of Continued Losses
The warning cast doubt about the long-term outlook for the company four months after completing a trans-Atlantic merger.
Equity Firm Wins Bidding for a Retailer, Alliance Boots
Kohlberg Kravis Roberts and an Italian billionaire won the takeover battle in Europe?s biggest private equity buyout.
Shareholders of Times Co. Hold Out 42% of Board Vote
Shareholders gave voice to their growing displeasure with the company?s management and financial performance.
With ABN Amro, Barclays Sees Asia Growth Atoning for Cuts Elsewhere
Job cuts in Europe and the U.S. may be offset by growth in Asia if Barclays and ABN Amro complete their nearly $91 billion deal.
Lexmark Hurt by Drop in Printer Sales
Lexmark International posted a quarterly profit that missed Wall Street estimates.
Corn Seed Sales Bolster DuPont?s Profit
The chemical maker reported a 16 percent increase in first-quarter earnings citing strong performance in its agricultural unit.
Stocks & Bonds: Better-Than-Expected Earnings Give a Lift
Investors weighed disappointing data on housing sales and consumer confidence against stronger-than-expected quarterly earnings.
BP Quarterly Profit Down 17% as Price and Production Fall
Other European oil companies are also expected to record declines in profit amid dwindling output and rising costs.
Virgin Orders 15 Boeing Jets to Save Fuel and Cut Noise
The order was part of an environmental partnership with Boeing that includes joint research into biofuels for use in jet engines.
Advertising: Auto Rivalries Make Madison Avenue a Frantic Street
The frenetic competition in the automotive industry is taking its toll on the advertising industry.
Lockheed First-Quarter Earnings Increase 17%
First-quarter earnings rose 17 percent because of higher sales at its technology unit and one-time gains.
Whirlpool Shares Top $100 on Buyback News
The company said it would resume share buybacks that it had suspended while it digested its purchase of rival Maytag.
JetBlue, Reporting Loss, Warns on Demand
JetBlue Airways posted a loss and warned of weaker demand, higher fuel prices and a lower profit outlook.
To Aid Share Price, I.B.M. Raises Dividend and Increases Buyback
I.B.M. increased its dividend by 33 percent and authorized an aggressive ramp-up of its share buyback program.
Nike Shifts Assignments to Crispin Porter in Miami
Nike is expanding its agency roster by shifting several important creative assignments to Crispin Porter & Bogusky in Miami, part of MDC Partners.
Warren E. Avis, 92; Founder of Car Rental Company, Dies
Warren E. Avis was a Michigan car dealership owner who founded a chain of car rental agencies and turned it into the nation?s second biggest.
H. M. Mayer, 90, Ex-Chief of Oscar Mayer, Dies
Harold Max Mayer was the former chairman of Oscar Mayer who helped oversee the company?s sale in 1981.
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