Home » Archive for August, 2012
Lowe’s $1.8 Billion Take Over Offer Rejected (NYSE: LOW)
Lowe’s $1.8 billion takeover offer was rejected by Rona, a Canadian rival. Rona said that it was approached by Lowe’s with a “non binding” offer to pay 14.50 cents a share for the company. Rona said that it formally... More of this article »
Sony Unveils New Computer Tablet
On Wednesday, Sony Corp, looking to reclaim some of its luster that was lost in the consumer electronics market in the past few years, unveiled their new line of products that included the new Xperia tablet brand. Kazuo Hirai, the... More of this article »
Gun Left Unattended in Airplane Lavatory by Secret Service
A Secret Service agent left his gun unattended on a charter plane that carried Republican presidential nominee Mitt Romney Wednesday, as the GOP candidate flew for a campaign event in Indiana. While the plane was in flight between... More of this article »
New HIV Medication Approved by FDA
The U.S. Food and Drug Administration approve a new drug for HIV, but the price of the new medication received a great deal of criticism from an AIDS activist. Michael Weinstein, the AIDS Healthcare Foundation president, said the drug... More of this article »
Sixteen Amish On Trial for Hair Cutting
On Tuesday, a defense attorney said his Amish clients took action due to a concern that members of their religion had strayed from their religious beliefs. His clients have been accused of carrying out hate crimes by cutting the hair... More of this article »
IBM Corp to Buy Kenexa Corp
IBM Corp is set to buy Kenexa Corp for around $1.3 billion. This will allow the technology giant to go into the human resources software market where it will compete against Oracle Corp and SAP AG. The deal fortifies the importance... More of this article »
Schulze Gets Okay to Launch Takeover Bid for Best Buy
The board of directors of the consumer electronics firm Best Buy announced on Monday that it had given Richard Schulze, the company founder, consent to prepare a takeover bid. Schulze now has 60 days to perform due diligence, form... More of this article »
Samsung Ready to Launch another Tablet
On Facebook, a new photo was posted by Samsung of what looked like their new tablet that will run with Windows 8. The Facebook page said the tablet would be unveiled during a trade show for consumer electronics in Germany that starts... More of this article »
Travel Advocates Urge FTC to Protect against Hotels Deceptive Pricing
Individual and corporate travel advocates have urged the Federal Trade Commission in the United States to address drip pricing, a practice that is widespread amongst the hotel industry. Advocates have said to the regulatory agency... More of this article »
Apple Wins Patent Case against Samsung
Last Friday, a US jury gave Apple a decisive win in its legal battle against Samsung Electronics. The court awarded Apple more than $1 billion in damages after it ruled that the Korean electronic device manufacturer infringed on several... More of this article »
Weak Demand Reduces Sony’s Quarterly Profit (NYSE: SNE)
Sony reported a 77% decrease in operating profit for the quarter that ended in June, a result far below analysts’ expectations. Operating profit for the period fell to ¥6.28 billion, or $80 million. Analysts had expected a 36%... More of this article »
Royal Bank of Scotland Loses $3B In First Half Of Year (NYSE: RBS)
Royal Bank of Scotland reported a net loss of £1.99 billion, or $3.09 billion, in the first half of the year. The bank recorded a £1.42 billion loss in the same quarter last year. Revenue fell 8%, to £13.29 billion. The bank’s... More of this article »
Tropical Storm Isaac Cancels Monday’s RNC events
Republicans, undaunted by what could be a huge force of Mother Nature, arrived in throngs in Florida on Sunday, as they prepare for their National Convention. The convention has been reduced from a four day event to just three as Tropical... More of this article »
Graphic Cigarette Labels Struck Down
On Friday, a federal appeals court struck down governmental requirements for graphic warning labels on the packages of cigarettes. The court said the government had not provided enough evidence that the graphic labels would lower the... More of this article »
Obama Leads Romney in Battleground state of Pennsylvania
A recently released poll shows that President Barack Obama holds a strong lead in Pennsylvania one of the key battleground states. The poll said that Obama’s lead over Mitt Romney the presumptive Republican presidential nominee was... More of this article »
Court in Norway Finds Breivik Sane
A court in Norway has sentenced mass murderer Anders Breivik to a prison term. The sentencing denied the prosecutors the ruling of insanity they were hoping for in order to show the massacre of 77 people was carried out by a madman,... More of this article »
Sony to Cut 15% of Mobile Phone Employees
Sony announced on Thursday that it would cut 15% of the mobile phone unit workforce, which has had economic troubles. The consumer electronics company said it was also relocating the headquarters of its mobile phone unit. Currently... More of this article »
Disease has Symptoms Similar to AIDS
Researchers said they had identified the new mysterious disease that has affected many people throughout Asia, as well as some in the United States, with symptoms that are AIDS-like even though they do not have HIV. The immune system... More of this article »
Hewlett Packard Reports Huge Loss
On Wednesday, Hewlett Packard announced its worst loss in 73 years of business. The huge tech giant has been struggling for the last couple of years and its latest quarterly loss was compounded because of a $9.2 billion write off.... More of this article »
Republicans Support the Ban on Abortion
The Republican platform panel reaffirmed support for amending the constitution that will ban abortion with no exceptions for those who were raped. The platform committee concluded their two days of deliberations in Tampa yesterday.... More of this article »
GOP Committee Rejects Civil Unions
The platform committee for the Republican Party rejected resoundingly on Tuesday an amendment endorsing gay couples’ civil unions. The GOP said it would maintain its support for an amendment to the constitution that protects traditional... More of this article »
Phyllis Diller Dies at 95
Phyllis Diller, who was 95, died on Monday said her manager of many years. One of her closest friends, Joan Rivers the host of a cable television show, said she was with Diller about three weeks ago and she was all dressed up, running... More of this article »
Obama Tells Assad Chemical Weapons Are Not an Option
Syrian President Bashar al-Assad was warned by President Barack Obama about using chemical or biological weapons in fighting the rebels. President Obama warned that U.S. forces would move against the government of Syria if the regime... More of this article »
BP Announces Loss After Series Of Write-Downs (NYSE: BP)
BP reported a $1.4 billion loss for the second quarter. Investors were already discontented with the performance of the company and its first American chief executive, Robert W. Dudley and the earnings report did nothing to assuage... More of this article »
Line Losses Cause of Energy Crisis for Karachi Electric Supply Company
Inefficient electricity productions as well as chronic line losses are the major causes for the energy crisis in Karachi Electric Supply Company. This was determined by a recent study made by Sustainable Development Policy Institute. The... More of this article »
Lowe’s Drops Outlook as Earnings Fall
Lowe’s earnings for the fiscal second quarter dropped by 10%, as the retailer of home-improvement products saw margins squeezed. Same-store sales dropped slightly. Robert Niblock the company’s CEO said that the quarterly results... More of this article »
Gu Kailai receives suspended death sentence
Bo Xilai, the disgraced politician in China, listened as his wife received a suspended death sentence of two years for murdering British businessman Neil Heywood. On Monday, the court ruled that the 52-year old Gu Kailai had prepared... More of this article »
Pfizer Results Beat Analysts’ Expectations (NYSE: PFE)
Pfizer announced that the company’s net income increased by 25% in the second quarter. The company posted net income of $3.25 billion, or $0.43 a share, in the latest quarter. This was up from $2.61 billion, or $0.33 a share,... More of this article »
White Supremacist’s Indicted Following Crime Spree
A white supremacist couple has been indicted by a federal grand jury. The couple, from Portland, Oregon, was involved in a conspiracy that led them on an alleged robbery, theft, kidnapping and murder spree throughout the Pacific Northwest. Friday’s... More of this article »
Apple Sees Share Price Soar
Investors, market observers and mobile device users are all anxiously awaiting the launch of the iPhone 5 and the possible launch of the iPad Mini. While everyone is anxiously awaiting the arrival of the next generation iPhone, the... More of this article »
Interior Secretary of the Philippines on Plane that Crashed
A small plane carrying the Secretary of the Interior from the Philippines Jesse Robredo crashed on Saturday into the ocean while it was attempting to make an emergency landing. Authorities said one person had been rescued but the Secretary... More of this article »
Cantaloupe Tainted With Salmonella Kills Two
On Friday, the U.S. Food and Drug Administration announced that cantaloupes were linked with an outbreak of salmonella across twenty U.S. states. The salmonella outbreak thus far has killed two and sickened more than 140 more people.... More of this article »
Hewlett-Packard Wins Suit Against Oracle (NYSE: HPQ)
A judge in California ruled in favor of Hewlett-Packard in a lawsuit over a decision by the Oracle Corporation to end support for certain H.P. manufactured servers. Oracle decided last March that it would no longer make new versions... More of this article »
DOJ Approves Verizon Wireless Cable Deals
The Department of Justice announced that it has approved the pending spectrum and marketing deals between Verizon Wireless and several other cable companies. The DOJ looked into the concerns regarding the deal by limiting the proposed... More of this article »
Female Punk Group in Russia Found Guilty
On Friday, a judge in Russian found the Pussy Riot provocative punk rock band guilty of hooliganism. Human rights groups watched the trial of the three member punk band closely across the globe. The judges said hooliganism had been... More of this article »
Assange Granted Asylum by Ecuador
On Thursday, the foreign minister of Ecuador announced that the country has agreed to grant asylum to Julian Assange, the founder of WikiLeaks. The announcement defied the threats by the government of Britain to raid the embassy and... More of this article »
Heart Risk could be tied to Blood type
The blood type individuals have might determine their risk of developing heart disease. A new study suggests that type O blood has some protective qualities against having a stroke or heart attack. The analysis also indicates that... More of this article »
Factory Output Goes Up as Prices Remain the Same
Manufacturers have made more computers and cars in July and homebuilders gained more confidence with the market. Prices remained unchanged as the US economy continued to expand as the inflation was contained. Production at mines, factories,... More of this article »
Quiet Night in French City Where Riots Occurred
Thanks to a heavy presence of police in Amiens, it was ensured that no repeat in violence and destruction would take place in the north of France Tuesday night. Earlier French President Francois Hollande had pledged to stamp out all... More of this article »
Stallone: Cast of Expendables Was Competitive
Sylvester Stallone, one of the stars of the new movie The Expendables 2, said that on the set, the cast was very competitive. Stallone returns with the latest sequel of his 2010 action packed hit, along with other action movie heavyweights... More of this article »
FedEx to Buyout Employees in 2012-13
Federal Express has announced it will be offering a number of its employees in the U.S. a voluntary buyout. Company officials said on Monday that the company was offering the buyout packages to a select group of employees. The majority... More of this article »
Motorola Mobility See Workforce cut 20%
Internet behemoth Google, Inc announced on Monday that it was cutting 4,000 people from the workforce of Motorola Mobility. The job cuts amount to nearly 20% of the entire workforce at Motorola Mobility. The cuts are also the largest... More of this article »
Aniston Engaged To Theroux
Jennifer Aniston and Justin Theroux announced over the weekend that they were engaged. The couple has been together for over a year. Theroux enjoyed his birthday party on Friday even more than usual, as Aniston accepted his proposal... More of this article »
McIlroy WIns PGA Championship
With his impressive win at the PGA Championship on Sunday, Rory McIlroy of Northern Ireland is back as the number one player in the world. The 23-year old looked like the superstar everyone has labeled him as, when he won the tournament... More of this article »
Logan Airport Agents Accused of Racial Profiling
Over 30 federal officers at a program at Logan Airport, intended to spot potential terrorists’ telltale mannerisms say the program has attracted the use of racial profiling that has targeted not just people from the Middle East,... More of this article »
Price of Gas Surges in July
A recent price increase in gasoline has taken some of the wind out of the sails of summer. The national average for a gallon of gasoline has increased to $3.67, which is an increase of 34 cents per gallon since the beginning of July. The... More of this article »
Wojick New Boeing Vice President of Sales for Commercial Airplanes
The Boeing Company announced that it named John Wojick as the new vice president of Sales for Commercial Airplanes. He replaced Ray Conner, who was made president and CEO of Boeing Commercial Airplanes in June. Wojick has spent 32... More of this article »
Sale of Snack Unit Helps Increase Procter & Gamble’s Quarterly Profits (NYSE: PG)
The Procter & Gamble Company announced that the sale of its snacks division helped its income rise 45% in its fourth fiscal quarter. Procter’s net income rose to $3.63 billion, or $1.24 a share, from $2.51 billion, or $0.84... More of this article »