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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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
Toyota Announces Strong Profits In Latest Quarter (NYSE: TM)
Toyota announced strong profits for the first fiscal quarter of the year. Net profit for the April-to-June quarter increased to 290.3 billion yen ($3.71 billion), from 1.1 billion yen in the same quarter a year earlier. The number... More of this article »
GlaxoSmithKline Bids $3 Billion To Purchase Human Genome Sciences (NYSE: GSK)
GlaxoSmithKline announced plans to buy Human Genome Sciences for about $3 billion. Human Genome is a biopharmaceutical company, which have been in high demand for acquisition in recent years. As older treatments lose patent protection,... More of this article »
Pilot from JetBlue Experiences Psychotic Episode
The former pilot of JetBlue Airways who ran through the plane he was captaining screaming about terrorism and religion, experienced a psychotic episode while in custody. According to just released court documents, the pilot will now... More of this article »
Prices of Corn Soar To New Highs
Corn futures soared to new highs following an announcement by the U.S. government that the devastating drought in the nation’s farm belt had destroyed over 1/6 of the corn crop in only one month. The Department of Agriculture dramatically... More of this article »
Chinese Politician’s Wife Lured Businessman to Hotel
The wife of Bo Xilai, the disgraced politician in China, lured a businessman from Great Britain to a Chongqing hotel in the southwestern part of China. After getting the businessman drunk, she poisoned him, testimony revealed on Thursday... More of this article »
Software Patent Dispute Costs RIM $147 Million (NASDAQ: RIMM)
Research in Motion has been found liable for $147.2 million in damages for infringing patents held by Mformation Technologies. Mformation sued RIM in federal court in San Francisco in 2008, accusing it of infringement of two patents. ... More of this article »
Police Credit Hostage with Helping End Standoff
A standoff between a gunman and police involving a hostage ended peacefully Sunday. A man had walked into a Yuba City, California sporting goods store and held an employee hostage at gunpoint for hours, said officials. Police identified... More of this article »
Autopsy Scheduled For Women Shot By Husband
On Monday, the office of the coroner will perform an autopsy on a woman who was shot while in her intensive care unit bed. The woman, who was from northeast Ohio was allegedly shot by husband, in what police say could be a mercy killing. John... More of this article »
Jobs Was Willing to Make Mini-iPad
One of Apple’s senior executives has said that Steve Jobs the founder of Apple was willing to have the company design a smaller tablet, says an email that was revealed this Friday. Rumors are that a mini-version of the 10-inch iPad... More of this article »
Man Could Have Fakes His Death
A woman from New York told police her husband faked his drowning so he could collect on the life insurance and abandon her. Evana Roth said it was all a nightmare that she wished she could wake up from. Raymond Roth told his wife on... More of this article »
Terror Suspects Arrested In Spain
Spanish authorities have arrested members of al-Qaeda, who were planning some sort of terrorist attack. The three men arrested had a huge stockpile of varying explosives. Law enforcement in Spain believes the suspects were planning... More of this article »
Three Planes Barely Avoid Colliding
Three US Airways jets narrowly avoided a midair collision with one another. On Tuesday afternoon, the planes were near Ronald Reagan Airport when they were within seconds of colliding. Airport air traffic controllers apparently mistakenly... More of this article »
Gore Vidal, author and playwright dies
Playwright, author, commentator and politician Gore Vidal whose published works were vast and whose public remarks were characterized by his unconventional wisdom and immodest wit, died on Tuesday in Los Angeles at the age of 86. He... More of this article »
Senate Rebukes HSBC Over Money Laundering (NYSE: HBC)
A 335-page Senate report says that executives at HSBC and regulators at the Office of the Comptroller of the Currency ignored warning signs and failed to stop illegal behavior by Mexican drug cartels looking to get cash back into... More of this article »
Microsoft Faces New Inquiry In Europe (NASDAQ: MSFT)
The European Commission announced a new set of antitrust proceedings against Microsoft. The European Commission said that the company failed to live up to a agreement made three years ago to give users of Windows software better... More of this article »
Chicken Salads at Trader Joe’s Being Recalled
Chicken salads under the name Huxtable’s Kitchen salads include contaminated red onions. The onions are contaminated with listeria, which could cause a disease that has a mortality rate of 20%. Over two tons of chicken salad that... More of this article »
Authorities Could Hold Man for Full Week
A man taken into custody last week, who has been accused of threatening a former co-worker, might be held an entire week in a hospital. Police also found a cache of arms in his home. He might remain under custody in the hospital until... More of this article »
Yahoo Results Show Stall In Earnings (NASDAQ: YHOO)
Yahoo’s quarterly financial report shows that revenue and net income have stalled at last year’s levels. Yahoo’s revenue from online display ads rose just 2% in the second quarter compared with a year ago, and it continues... More of this article »
Expansion In China Causing Headaches For Apple (NASDAQ: AAPL)
Apple’s slow pace of expansion in China has been causing major headaches for the company. Apple’s stores in China are usually very crowded and customers often have to wait in long lines for repairs for their iPhones. Apple has... More of this article »
Economy Slows to Tepid Rate of 1.5%
The economy in the U.S. grew by just a tepid 1.5% rate during the second quarter of 2012. It lost the momentum that had appeared during the early part of the year. Holding back the growth of the economy was the lack of purchasing by... More of this article »
Campbell Soup Strikes Deal To Buy Bolthouse Farms (NYSE: CPB)
The Campbell Soup Company announced that it would buy food company Bolthouse Farms from the private equity firm Madison Dearborn Partners. Campbell will pay $1.55 billion in cash to close the deal. Denise M. Morrison, Campbell’s... More of this article »
Huge Protests over Police Shooting in Anaheim
Officials in the city of Anaheim voted on Tuesday to request an official investigation by the U.S. Attorney’s office over recent police shootings. That includes one that took place last weekend where an unarmed man was shot by police.... More of this article »
Pickup Crashes and Kills Fourteen Aboard
A pickup crashed into a group of trees on a remote stretch of Texas highway early Monday morning killing 14 of the 23 people onboard. Authorities said at least 23 people were in the pickup when it crashed, with the number possibly... More of this article »
Rupert Murdoch Stepping Down From Boards
Australian media mogul Rupert Murdoch announced he was stepping down from the two News Corp businesses in the United Kingdom. By doing so, he has symbolically put a distance between himself and the vast empire he started 43 years ago... More of this article »
Holmes in Solitary Confinement
James Holmes, the accused gunman in the movie theater massacre, remains completely unapologetic for his alleged action. He is accused of killing 12 people and injuring as many as 58 more. Holmes is a former honors student and was studying... More of this article »
WellPoint Makes Plans To Buy Amerigroup (NYSE: WLP)
WellPoint has agreed to buy Amerigroup in a $4.9 billion deal. The deal is one of WellPoint’s biggest since the company was created in a 2003 merger. The company has also recently acquired 1-800 Contacts, a contact lens retailer,... More of this article »
No-Fly Listed People Can Attend Flight School
American citizens, thanks to a government regulation, can enroll and attend flight school even though they appear on a no-fly list because of being suspected of involvement with terrorist activities. They are not even required to have... More of this article »
Bank of America Reports $2.5 Billion Profit (NYSE: BAC)
Bank of America reportedly earned $2.5 billion, or $0.19 a share, compared with analysts’ projections of $0.14 for the quarter. The bank reported revenue of $22.2 billion for the second quarter, slightly less than expected... More of this article »
Leaders in Syria Killed In Bomb Blast
The National Security building in the capital of Syria was struck Wednesday by a massive bomb. Killed in the blast was the brother-in-law of President al Assad and the country’s defense minister. The bombing was the worst to hit... More of this article »
Toronto Shootout Kills 2 with 22 Injured
On Monday night, a shootout in Toronto took the lives of two people, wounded another 19 and saw three more trampled at a block party in the city’s east end. The two who died at the shooting scene were a teenage female and a 20-year... More of this article »
Fast Food Restaurants Lower Trans Fat Levels in New York City
Patrons of fast food in New York City now eat much less unhealthy fat because of restrictions on the use of trans fat placed by the city over four years ago, says a new report. Trans fats are very common in hydrogenated vegetable oil... More of this article »
North Korean Ousts Military Chief
The top military chief in North Korea, who is a key mentor to Kim Jong Un the new leader and served under his father, was removed for all his posts due to illness. The announcement was made by state media on Monday. The announcement... More of this article »