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Retailer Relents on Logo Use After Pirate Bay Cries Foul
From the "Now you know how it feels" department: The Swedish online retailer that had trademarked a near replica of The Pirate Bay’s iconic logo has agreed to withdraw registration of what has become an enduring symbol of online piracy after a Pirate Bay co-founder cried foul.
Music: Too Expensive to Be Free, Too Free to Be Expensive
Advertising was supposed to be music's magic bullet, enabling fans to get the free music they’re going to find anyway while feeding copyright-holder coffers. Well, that dream is fading fast.
Google Submits New Proposal for Library of Future
Google hopes that it can find a creative legal solution that lets it create the library of tomorrow by scanning millions of books. Late Friday, it submitted a new proposal for paying authors, but is it enough to keep the feds from seeing a monopoly in the offing?
To Play With Giants, App Devs Risk Getting Squashed
Mobile app developers find that there's a risk to being a little guy: Sometimes the corporation that controls the platform, like Google or Apple, will make your app obsolete.
In Escalating War With Verizon, AT&T Is Getting Tone Deaf and Outflanked
Verizon and AT&T are going to war: As it took direct aim at the 800-pound gorilla that is the iPhone with funny and cinematic TV ads for the Droid rollout last week, Verizon is also flanking AT&T about the reach of its 3G coverage with a growing repertoire of teasing commercials. AT&T is fighting back in court and, most recently, with a bland statement that aims to 'set the record straight on Verizon ads.' Talk about asymmetric warfare.
Intel Pays AMD $1.25 billion To Settle All Disputes
Chip makers Intel and Advanced Micro Devices settle all outstanding legal disputes, including antitrust litigation and patent licensing issues. Intel pays AMD $1.25 billion as part of the settlement.
Intel to pay AMD $1.25 billion, settle all disputes
SAN FRANCISCO (Reuters) - Chip makers Intel Corp and Advanced Micro Devices Inc said they have settled all outstanding legal disputes, including antitrust litigation and patent licensing issues. Intel said on Thursday it will pay AMD $1.25 billion as part of the settlement, sending shares of AMD up nearly 30 percent. The two companies also sealed a five-year cross license deal and said they would give up any claims of breach from their previous license agreement. Competition authorities in Asia, Europe and the United States have taken action against Intel in recent years because of persistent complaints by AMD about the behavior of Intel, which makes 80 percent of the central processing units at the heart of personal computers. "While the relationship between the two companies has been difficult in the past, this agreement ends the legal disputes and enables the companies to focus all of our efforts on product innovation and development," AMD and Intel said in a joint statement. AMD said it would drop all pending litigation including a case in U.S. District Court in Delaware and two cases pending in Japan. AMD will also withdraw all of its regulatory complaints worldwide. As a result of the settlement, Intel adjusted its fourth-quarter outlook. The chip maker raised its spending forecast to $4.2 billion from $2.9 billion, and said its effective tax rate would be about 20 percent, down from 26 percent. Other expectations are unchanged, Intel said. Shares of AMD jumped 23 percent to $6.55 in early trading on the New York Stock Exchange. Intel shares were halted. (Reporting by David Lawsky and Tiffany Wu, Gerald E. McCormick, Dave Zimmerman)
Storyboard: Demand Media's Google-Crunching, Profit-Posting Answer Factory
Employing a clever algorithm and a speedy production team, the company whips up dirt-cheap videos that capitalize on internet users' queries.
Singularity University: Cracking the (Human) Code
A neuroscientist specializing in real-time brain imagery says that the next wave of knowledge, technology and business will come from learning how humans perceive, think and act.
Singularity University: Rearranging Atoms With Ralph Merkle
'If you rearrange the atoms in coal, you get diamond. If you rearrange the atoms in sand, you get silicon. How atoms are arranged is fundamental to all material aspects of life,' says Ralph Merkle, senior research chair at the Institute for Molecular Manufacturing. Those words kick off day 2 at the Singularity University Executive Program.
Wired: Tech Biz
Dispatches from Silicon Valley.
Chicago news, weather, traffic - CBS 2 - WBBM
Chicago news, weather, traffic - CBS 2 - WBBM
S.C. senator: We 'threw everything at Boeing'
A state senator from South Carolina said the tough competition from Washington state made his state work even harder for the next 787 assembly plant.
Cozi Teams Up with MWV
Seattle-based Cozi announced today it has formed a strategic partnership with MeadWestvaco (NYSE: MWV), a Sidney, NY-based maker of school and office supplies and planning tools. Financial terms of the deal weren't announced, but the partnership will give MWV consumers access to Cozi's Web-based software for helping families manage their busy schedules. The tools include ...
17 New Web Startups Around Town
At least 17 Seattle-area startups rolled out new websites last month, according to the latest edition of Seattle 2.0's startup index. The index now lists 373 companies, which are ranked on the basis of Web traffic estimates. The top 10 sites didn't change much from previous months. The startups that are new to the list ...
Notebook PCs fail more often than you'd like
According to a new study of portable PC reliability, there's a 1-in-5 chance that the notebook you bought today will suffer a hardware malfunction in three years.
The Icos Alumni Guide, Trubion CEO Resigns, OVP Leads $30M Fate Deal, & More Seattle-Area Life Sciences News
Three years have gone by since the region's top biotech company was taken over by Eli Lilly, so it seemed like a good time to find out where all that talent migrated around the Northwest. -Icos was once the great hope for Seattle biotech, but now three years have passed since the Bothell, WA-based company agreed ...
Sony Ericsson Closing Bellevue Office
Sony Ericsson, the London-based mobile handset maker, is shutting its Seattle-area office, as first reported by Engadget and Triangle Business Journal. Sony Ericsson is cutting about 2,000 out of 9,900 jobs globally, including closing offices in Research Triangle Park, San Diego, Miami, Kista, Sweden, and Chennai, India. The moves are part of a company-wide restructuring ...
Voyager Re-ups with Placecast
Seattle-based Voyager Capital has participated in a $5 million investment in 1020, the San Francisco developer of Placecast, a location-based advertising and marketing platform, according to a report in TechCrunch. Quatrex Capital and Onset Ventures also participated in the Series B funding, which will be used to accelerate Placecast's technology development. Placecast's algorithms combine data ...
Seattle Post-Intelligencer: Business News
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Ohio Sues Credit Rating Agencies
In the suit, the state’s attorney general asserted that Standard & Poor’s, Moody’s and Fitch Ratings provided misleading ratings that led to hundreds of millions of losses for state funds.
Stocks Finish Lower on Economic Concerns
Investors are increasingly wondering about the speed of the economy recovery and they are questioning the fast-paced rise of technology stocks.
Fears of ‘Lost Decade’ Grow for British Economy
Even as the British economy seems to be improving, some analysts worry that its underlying structural flaws could mean the country won’t be able to sustain its recovery.
Off the Charts: From Leader to Laggard in 11 Years
Since 1998, the dollar’s weakness has been a major contributor to the United States stock market’s fall from global grace.
A Tearful Winfrey Explains Her Departure
Oprah Winfrey confirmed to viewers what she told her staff members on Thursday afternoon: that she is ending her successful daytime talk show in September 2011.
Your Money: Financial Advice From the Divorce Trenches
Some advice from those with firsthand experience of divorce may help you avoid the financial pitfalls of a split.
Shortcuts: When ‘Customer Service’ Seems Anything But
Sometimes it is hard to remember that the person on the other end of the phone line is not the enemy, but staying calm can help.
Patient Money: How to Find Mental Health Care When Money Is Tight
Hot lines, online groups and organizations that charge fees on a sliding scale are options for finding help.
AOL to Cut One-Third of Its Staff
AOL said on Thursday that about 2,500 jobs will be lost after it is spun off from Time Warner next month.
Google Offers Peek at Operating System, a Potential Challenge to Windows
Computers using Chrome, which uses “cloud computing,” will not arrive for a year, but it is already seen as a potential challenger to Microsoft.
Back to Business: With F.H.A. Help, Easy Loans in Expensive Areas
An effort by the F.H.A. to prop up real estate prices amid rising defaults has put taxpayers at risk.
Panel Votes to Broaden Oversight of the Fed
Rejecting warnings by the Obama administration, a committee approved a plan by Representative Ron Paul to carry out sweeping new audits of the central bank’s policy decisions and operations.
Geithner Hopes to End Bailout Fund
Treasury Secretary Timothy F. Geithner said on Thursday that the government would close the $700 billion program “as soon as we can,” and that part of it would be used to lower the federal debt.
Attention Shifts to China for Private Equity Industry
Global private equity firms are seeking to raise capital from China’s wealthy individuals and institutions, even as the nation works to create a private equity industry of its own.
European Central Bank to Be Pickier on Loan Collateral
In a move to prepare the ground to unwind emergency liquidity measures, the European Central Bank has tightened rules for collateral it accepts against loans.
Bank of Japan Sets Itself Up for Clash With Government
The central bank upgraded its economic assessment, setting itself up for a confrontation with a government pressing for a policy response to deflation.
In Survey, Hard Times Before Slump
One in five Americans needed help paying for basic needs, according to a 2005 census survey.
D.R. Horton Results Miss Estimates
The homebuilder reported a much larger-than-expected quarterly loss of $231.9 million, but said that orders had increased.
Ann Taylor Reverses Loss, but Is Cautious on Holiday
The clothing retailer reported lower-than-expected quarterly revenue and gave a cautious forecast for the current holiday quarter, sending shares down.
U.S. Mortgage Delinquencies Reach a Record High
The Mortgage Bankers Association’s quarterly survey found that one in seven homeowners was either late on payments or was already in foreclosure.
Treasury to Auction Off Big-Bank Warrants
The sales could free JPMorgan, Capital One and TCF Financial from the government’s bailout restrictions.
Winfrey Bets on Her Future With Cable
Oprah Winfrey will end her daytime talk show in 2011 as she prepares to start a cable channel of her own.
Advertising: The Jonas Brothers Promote Xbox 360
The band said it had been approached by many companies, but it wanted to endorse family-friendly brands.
Google to Add Captions, Improving YouTube Videos
The move is the first major step toward making millions of videos accessible to deaf and hearing-impaired people.
South Korea Trade Pact Is Revived by Obama
President Obama pledged to complete a long-stalled trade agreement with South Korea that he inherited from former President George W. Bush.
French Weigh $52 Billion Bond Issue
A report commissioned by President Nicolas Sarkozy proposed new spending on research and growth industries despite concerns about rising debt levels.
O.E.C.D. Cautious in Economic Forecast
Stimulus spending in countries like China have helped bolster member nations of the Organization for Economic Cooperation and Development, but the economic outlook remains weak, it said.
As Recovery Spreads, Greece Is Bypassed
New concerns are being raised about Greek banks as the country’s budget deficit swells and its sovereign credit rating has come under renewed threat.
Dutch Bank Gets Another Cash Injection
The Dutch government said that it would spend another 3 billion euros to clean up ABN-AMRO, as it seeks to put the problems at the collapsed lender behind it.
JPMorgan Buys the Rest of a British Bank Partner
The American bank paid $1.7 billion for the rest of Cazenove to strengthen its investment banking unit in Britain.
Moody’s and S&P Scale Back Business in Australia
Standard & Poor’s has joined Moody’s in withdrawing its application to supply ratings of corporate bonds and other debt-based securities to retail investors after new rules were announced this month.
Trade Agency Opens Inquiries on Livestock Complaints
The World Trade Organization will investigate U.S. labeling rules on cattle and swine and European poultry restrictions.
Blackstone Unit to Buy Birds Eye Foods
The all-cash deal is worth $1.3 billion. Birds Eye is majority-owned by Vestar Capital Partners, a private equity firm.
Media Mogul's Battle With Deutsche Bank Escalates
German prosecutors said they filed fraud charges against the former chairman of Deutsche Bank in the latest development in Leo Kirch’s legal battle against the bank.
Suit Accuses Hartford Courant of Plagiarism
A lawsuit cites 11 Hartford Courant articles it says were largely taken from The Journal Inquirer.
Mall Operator in Deal With Its Lenders
General Growth Properties, which filed for bankruptcy protection in April, is close to restructuring almost $9 billion of its $27 billion in debt.
Ex-McKesson Chairman Is Found Guilty of Fraud
A federal jury convicted Charles McCall on five charges stemming from an accounting scandal, but acquitted another executive, Jay Lapine.
Breakingviews.com: For Citi, Less Sting From a Painful Bet
If Terra Firma were to let EMI default on its debts, Citigroup could offer the company to Warner, which has long coveted the music label.
High & Low Finance: U.S. Teaches Carmakers Capitalism
The U.S. takeover of G.M. and Chrysler isn’t an unqualified success, but rising auto prices may be more than a statistical fluke.
Is Goldman's Charitable Gesture Enough?
Does the firm have an obligation to make philanthropic efforts?
NYT > Business
Who's Afraid of Foreclosure? Should More People Simply Abandon Their Homes?
Study finds homeowners fight foreclosure even when it doesn't make sense.
Foreclosure - United States - Oceania - Organizations - Arts
The Economy of O: Who Really Doesn't Want Oprah to Close Up Shop?
Publishing, TV and mom-and-pop stationery stores to lose Oprah as money maker.
Oprah Winfrey - Television - Small business - Family - Parenting
Top 10 Worst, Best States for Unemployment
10 U.S. states struggle with unemployment at or above 11 percent.
Unemployment - Business - United States - Work - Recession
Inside the Black Friday Marketing Machine
The strategy behind Black Friday shopping frenzies could be used elsewhere.
Black Friday - Business - Marketing and Advertising - Marketing - Internet Marketing
Volkswagen Board Moves Closer to Porsche Merger
Volkswagen supervisory board approves agreement contracts for Porche merger.
Porsche - Makes and Models - Recreation - Autos - Volkswagen
2 More: GOP Lawmakers Want Geithner's Head
Two more lawmakers call for Geithner's head as Geithner redirects blame to Bush.
United States Secretary of the Treasury - United States - Presidents - History - Bush George Walker
Mammogram Guidelines Motivated by Money?
Panel insist financials played no factor-- others aren't so sure.
Forensics - Student - Organizations - Competitions - Academic
Hollywood's Top 10 Most Overpaid Stars
Why Will Ferrell, Eddie Murphy and Tom Cruise may not be worth big bucks.
Tom Cruise - EddieMurphy - Recreation - Travel - Specialty Travel
World War II, Microsoft vs. Apple and Armenia
A look at what's upending the tech status quo.
Microsoft - Apple - World War II - Microsoft vs. Apple - IPhone
Hot Sellers in Short Supply This Holiday?
Retailers are expected to sell out of hot gift items this year.
Shopping - Food - Condiment - Sauces - Hot and Pepper
PHOTOS: Which 'Twilight' Star Took It All Off for PETA?
Christian Serratos would rather go naked than wear fur.
SC Jury Finds '3 Hebrew Boys' Guilty in Scam
Federal jury finds '3 Hebrew Boys' guilty of all charges in $80 million SC fraud scheme
Fraud - Languages - Law - Legal Information - Advance Fee Fraud
Maine Governor Orders $63M in Department Cutbacks
With huge budget shortfall looming, Maine governor orders $63 million in cutbacks
Maine - United States - Queerty - State & Local Politics - Government
AP Changes Roles for 6 News Editors, 4 Photo Eds
In restructuring, AP changes roles for 6 news editors and assigns 4 regional photo editors
Associated Press - Arts - Writers Resources - Media - Breaking News
Wis. Mulls Harley-Davidson, Cheese Microbe Honors
Choppers and Cheese: Wisconsin state honors sought for Harley-Davidson, cheese microbe
Wisconsin - Harley-Davidson - Business - Motorcycle - Automotive
Stocks Fall for 3rd Day as Dollar Strengthens
Stocks drop as investors push into safe-haven investments; Dell weighs on technology stocks
Business - Investing - Commodities and Futures - Stocks and Bonds - Advisory Services
WATCH: Dollar Good, Market Bad
Bloomberg's Matt Miller on why the market's do poor when the dollar does well.
Matt Miller - Arts - Television - United States - Programs
WATCH: Black Friday Deals
Find out where to go to get the best deals this holiday shopping season.
BlackFriday - Christmas and holiday season - Television - Arts - Shopping
WATCH: Geithner Faces Calls for Resignation
Two Republicans call for the treasury secretary's resignation during hearing.
United States Secretary of the Treasury - United States - Timothy Geithner - Politics - Television
WATCH: Gold Fever
How much cash can you get for your gold?
Gold - Precious metal - Mining and Drilling - Business - Mineral Exploration and Extraction
WATCH: 'Significant' Problems Plague Recovery.org
Despite caution from top watchdog, White House says problems are fixable.
White House - United States - Health - Barack Obama - Infectious Diseases
WATCH: Stores Scale Back on Holiday Toys Orders
Those much sought after hot items will be few and far between.
Toys and Games - Shopping - Business - Consumer Goods and Services - Business and Economy
WATCH: Palin: Economic Fix Is 'Backassward'
The former governor criticizes Obama administration's handling of the economy.
Presidency of Barack Obama - United States - Barack Obama - Government - Obama administration
WATCH: Simplify Your Holidays
Tips to get through the holidays without breaking the bank.
Travel and Tourism - Travel Services - Tour Operators - Business - United States
WATCH: Retail Reports Slow Market
Bloomberg's Sara Eisen with today's business headlines.
Business - United States - Retail - Retail Trade - Society and Culture
WATCH: How to Become the 'Top Talent'
Author Sylvia Ann Hewlett on how to keep your performance up at the office.
Sylvia Ann Hewlett - Author - Business - Arts - Literature
WATCH: Duty-Free Shopping: Bargain Or Rip-Off?
Is airport shopping really a place to get the best deals?
Duty-free shop - Business - Airport - Aviation - Transportation and Logistics
WATCH: Jake Tapper on GM's Overseas Ventures
U.S. taxpayer dollars could go toward global restructuring efforts.
General Motors - Business - GM - Business and Economy - Employment
ABC News: Money
Valero shutting Delaware refinery employing 550
Valero Energy is shutting down its refinery in Delaware City, Del., in a move that will eliminate 550 jobs after failing to find a feasible buyer.
Personal Finance Daily: Doctor shortage is good news for nurses
It's probably time to reconsider the current medical-visit vernacular. These days, instead of "I'm going to the doctor for a checkup," it's more like: "I'm going to the nurse practitioner."
Biotech Stocks: Inovio, Merck gain; Novavax falls
Drug stocks cling to the flat line in morning activity while shares of Inovio Biomedical soar on positive clinical data for its new DNA-based flu vaccine.
Movers & Shakers: Friday's biggest gaining and declining stocks
Among the shares expected to see active trade in Friday's session are Dell, Nokia, and J.M. Smucker.
Tech Stocks: Tech sector retreats as Dell shares fall
Tech stocks drop, as shares of Dell Inc. fall sharply following a downbeat earnings report.
Airline Stocks: Airlines give up mild gains to close down
Airline stocks manage to eke out some early gains, bucking a mild retreat in the broader market as the price of crude oil pulls back below $77 a barrel.
Real Estate Weekly: Counseling helps people avoid foreclosure: study
Homeowners who receive counseling are 60% likelier to avoid foreclosure than those who don't get help, according to a report this week by the administrator of a government-funded foreclosure counseling program.
Dell shares drop following disappointing report
Dell shares fall in morning activity after the PC maker reports disappointing results for the third fiscal quarter, thanks mostly to a sharp drop in PC sales.
Smucker profit soars on benefits of Folgers deal
Jam maker J.M. Smucker's second-quarter profit nearly triples from a year ago, reflecting the company's Folgers coffee acquisition, and raises its earnings forecast for the fiscal year. Shares gain.
Energy Stocks: Valero, Cloud Peak in focus in lower energy sector
Speculation about a correction in oil prices -- potentially on a scale of $10 to $15 a barrel -- hangs over energy stocks, which extend their losses from Thursday's session.
MarketWatch.com - Top Stories
MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products.
MBA Scholarships
Students who are dependent children of members of the Military Benefit Association may be interested in applying for one of the five $2,000 scholarships awarded by Scholarship Management Services, a department of Scholarship America. Students must be enrolled or about to enroll in a two or four-year undergraduate program at an accredited institution. If you are interested in applying for one of these MBA scholarships, you must submit an application along with current transcripts by February 15, 2010. Applications will be made available in December of 2009. Request an MBA Scholarship Application MBA Scholarships originally appeared on About.com Business School on Thursday, November 19th, 2009 at 11:17:51.
NYU Stern's MBA Essay
The following is a guest post from Yael Redelman-Sidi, an experienced MBA admissions consultant who provides customized guidance for NYU Stern's application and other programs: One of the most interesting and challenging MBA essays is NYU Stern's "personal expression" essay. NYU's requirement is as follows: "Personal Expression: Please describe yourself to your MBA classmates. You may use almost any method to convey your message (e.g. words, illustrations). Feel free to be creative." This descriptive is as general as it could be, leaving many prospective applicants in the dark. What is NYU's Stern really looking to find in this essay? Here are some tips on how to handle this essay / personal statement and ideas on how to tackle this project. NYU Stern's MBA Essay originally appeared on About.com Business School on Wednesday, November 18th, 2009 at 15:02:24.
Should I Earn a Doctorate Degree?
A doctorate degree is the highest level academic degree that can be earned in the U.S. and many other countries. This degree is awarded to students who have completed a doctoral degree program. Learn more about earning a doctorate degree. Explore This Topic Further Should I Earn a Doctorate Degree? originally appeared on About.com Business School on Tuesday, November 17th, 2009 at 12:20:06.
100 Free (or Mostly Free) Reference Tools for B-School Students
OnlineClasses.org just posted a great list of 100 Useful Reference Tools for B-School Students. Three of my favorites are: 100 Free (or Mostly Free) Reference Tools for B-School Students originally appeared on About.com Business School on Wednesday, November 11th, 2009 at 10:45:10.
Funding Your Part-Time MBA
Will the boss pay for your part-time MBA? Maybe, maybe not. But there are a few things you can do to up your chances. This article offers a few tips to help you weasel tuition dollars out of your employer: How to Get the Boss to Pay for Your Part-Time MBA Related Resources: Funding Your Part-Time MBA originally appeared on About.com Business School on Wednesday, November 11th, 2009 at 10:32:33.
Best Business Schools
BusinessWeek just released rankings for the best part-time MBA programs, the best executive MBA programs, and the best non-degree programs. You can see the rankings here: Best Business Schools originally appeared on About.com Business School on Monday, November 9th, 2009 at 11:40:19.
Should I Earn an Accounting Degree?
Thinking about earning an accounting degree? Find out what type of accounting degrees are available, what you can do with an accounting degree, and how much you can earn after graduation: Related Resources: Should I Earn an Accounting Degree? originally appeared on About.com Business School on Sunday, November 8th, 2009 at 10:10:48.
GMAT Pill Method - Quick GMAT Prep
Preparing for the GMAT takes time--usually 3 to 6 months. But if you don't have that long to prepare or just want to learn a quicker way to study, you may want to consider looking into the GMAT Pill Method. The company offers last minute, on-demand video prep to GMAT test-takers. They have been getting good reviews around the web and offer a 60-day money back guarantee to anyone who is not satisfied. GMAT Pill Method - Quick GMAT Prep originally appeared on About.com Business School on Friday, November 6th, 2009 at 16:41:43.
10 Ways to Find the Right Job
Not sure what kind of job is right for you? The About.com Guide to Continuing Education offers 10 ways to find your perfect job. 10 Ways to Find the Right Job originally appeared on About.com Business School on Wednesday, November 4th, 2009 at 10:29:28.
Free Micro-eMBA
The Free Management Library offers a great MBA program for self-learners. Known as the Micro-eMBA, the self-paced program does not award a degree or certificate. However, it does provide valuable education for entrepreneurs, leaders, and managers. The free program focuses on for-profit business organizations. If you are interested in focusing on nonprofits instead, you can explore the Free Nonprofit Micro-eMBA Program. Find more free business courses. Free Micro-eMBA originally appeared on About.com Business School on Monday, November 2nd, 2009 at 11:02:44.
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U.S. part of global crackdown on counterfeit medicines
NEW YORK -- In highly orchestrated raids around the world this week, Interpol officers in Europe, drug agents in the United States and task forces from Sweden to Singapore hunted down counterfeit prescription drugs in an effort to stem a rapidly growing criminal business preying on financially pr...
American Express to enter market for online payments
American Express on Wednesday said it had agreed to buy the online person-to-person payment provider Revolution Money for $300 million, the latest move by one of the credit card giants to add a service that has been increasingly in demand by consumers, especially younger ones.
Discount retailer Forman Mills to open pair of new area stores
Capitalizing on consumers' growing desire to "trade down," no-frills retailer Forman Mills is making a bigger foray into the Washington area with two new stores, one opening in New Carrollton on Friday and another in the District on Nov. 27.
Bailout program could be extended
The Obama administration is poised to extend the life of the highly unpopular $700 billion financial bailout and, to display a commitment to fiscal responsibility, is planning to use much of the leftover funds to reduce the national debt, government sources said.
Housing starts take unexpected tumble, fall 10.6 percent
New home construction took an unexpected tumble last month, reflecting the bumpy nature of a tentative housing recovery.
At home with work
When Michael Gibbs and Hope Katz Gibbs moved this August, one house in Arlington rose to the top of their wish list: a remodeled and expanded ranch home. The big selling point? The house had enough flexible space that both of them could both set up their own home offices.
Housewatch: How to pick the most environmentally friendly countertops
Want the greenest countertop on the market? You're going to have to do a bit of research.
Expect tightening from the FHA
For the past several years, the Federal Housing Administration has been the go-to financing resource for cash-strapped home buyers who can't come up with a big down payment. It has zoomed from barely a 3 percent market share to nearly 30 percent of home-purchase loans. But now, wildly popular...
Business Digest: Judge backs revised Google Books deal
A federal judge granted preliminary approval Thursday to a revised settlement between Google and authors and publishers over the Internet giant's effort to create a vast digital library.
Nation Digest: FEC eases restrictions on candidates' luxury jets
The Federal Election Commission on Thursday eased restrictions on the use of luxury jets by many candidates for federal office, ruling that Senate and presidential candidates can pay discounted prices for private air travel as long as they do not do so on behalf of their own campaign.
Local Digest: AES agrees to increase pollution disclosures
Arlington-based AES, which operates several coal-fired power plants in the United States, has agreed to put more information about global warming in its public financial disclosures.
General Growth strikes deal with lenders
Mall operator General Growth Properties, which filed the largest U.S. real estate bankruptcy case in history earlier this year, said Thursday that its lenders have agreed to restructure some $8.9 billion in shopping mall mortgage loans.
Peter Orszag: Bills offer clear path to better health care
The bills under discussion will put us on a path to a high-quality, low-cost system.
Alan Blinder: Danger lies in threat to Fed independence
Why the Fed needs its independence from Congress.
Carlyle to run roadside service stops in Connecticut
The Carlyle Group said Thursday that it has signed a deal with Connecticut to refurbish and run the state's 23 highway service stops in return for a share of the revenue over the next 35 years.
Reid pushes for votes on health-care bill
Senate Majority Leader Harry M. Reid worked Thursday to nail down the votes needed to move to a final debate on health-care legislation, but a tepid assessment of the public insurance plan he crafted emerged as the latest potential obstacle to the passage of the far-reaching changes.
Foreclosure, delinquency rates spike amid growing unemployment
The share of homeowners delinquent on their mortgage or in foreclosure hit a new record during the third quarter, according to industry data released Thursday, which also indicates that the problem is likely to get worse through next year as unemployment rates continue to rise.
AOL plans to cut a third of workforce
AOL said Thursday that it plans to reduce its workforce by a third over the next several months.
House proposal would empower regulators to break up 'too big to fail' firms
A key House Democrat introduced a contentious proposal Wednesday that would give federal regulators power to dismantle financial firms before they grow so large that their failure could endanger the entire financial system, even if those firms appear to be healthy and well capitalized.
Corn-based ethanol producer says it will soon compete with gasoline
The nation's largest producer of corn-based ethanol said it has slashed the cost of producing cellulosic ethanol from corn cobs and that it will be able to compete with gasoline in two years.
FAA: Computer system restored, delays persist
Federal Aviation Administration officials say a failed computer system that affected flights across the country Thursday morning is working again, but they cautioned travelers to expect residual delays.
Business Digest: California requires TVs to be more energy efficient
HOUSING New-home construction took an unexpected tumble in October, falling to its lowest level in six months, according to government data released Wednesday, reflecting the tentative nature of the housing market.
Senate announces $848 billion health-care bill
Senate Majority Leader Harry M. Reid presented an $848 billion health-care overhaul package on Wednesday that would extend coverage to 31 million Americans and reform insurance practices while adding an array of tax increases, including a rise in payroll taxes for high earners.
Lithuania investigates possible CIA 'black site'
ANTAVILIAI, LITHUANIA -- Residents of this village were mystified five years ago when tight-lipped American construction workers suddenly appeared at a mothballed riding stable here and built a large, two-story building without windows, ringed by a metal fence and security cameras.
Ambitious bills could remake financial regulatory landscape
As lawmakers on Capitol Hill inch closer toward overhauling the nation's fractured financial regulatory system, each hour of debate, each tweak of legal language, each tedious roll call carries the potential to generate colossal changes in the relationship between Washington and Wall Street.
Local Digest:
Consumers in the Washington area are more confident in the region's economy than they were seven or eleven months ago, according to a survey released Wednesday, but they still are reluctant to make major purchases such as cars and appliances.
In Louisville, Nth/works plant sees few signs of recovery, holds off on hiring
LOUISVILLE -- Small manufacturers like Tom Hudson keep hearing that the recession is over, and every day they await a sign telling them it's time to gear up and start hiring back some of the workers they have laid off. The news Tuesday was hardly encouraging: Factory production fell in October, the...
Marriott to shuffle its holdings
The luxury Ritz-Carlton hotel chain will cease to be a stand-alone division under the Marriott International umbrella as part of a reorganization that the Bethesda-based company plans to complete by 2011.
Signs point to a lukewarm recovery
The economic recovery continues to be weak, as data released Tuesday show that the expansion of the nation's industrial sector slowed to a crawl in October.
Task force to take up financial fraud cases
Top Obama administration officials on Tuesday announced a new federal task force to combat financial fraud after deciding that the number and complexity of investigations linked to the economic crisis require a more coordinated response from government agencies.
CapitalSource selling nursing home business
CapitalSource announced Tuesday that it is selling its nursing home business to Omega Healthcare Investors of Hunt Valley, Md., for $860 million, helping relieve CapitalSource of heavy debt acquired during the recession.
Low-emission locomotives a boost to public health
A new crop of "ultra-low emission" short-haul locomotives could have significant public health benefits, according to rail industry officials and federal health experts, who suggest that they could help decrease the risk of cancer and heart and respiratory disease for people living near rail yards.
IRS divulges criteria for targeting UBS accounts
If your secret Swiss bank account was small enough, you can breathe easier: A landmark deal between the United States and Switzerland to expose American tax dodgers does not call for the Swiss to blow your cover.
Makers of electric cars address shortage of recharging station
As their manufacturers see it, the electric cars entering U.S. showrooms as early as next year will be engineering marvels: stylish, battery-operated, zero-emission wonders.
In Seoul, Obama will confront trade and security issues
SEOUL -- President Obama, who arrived here Wednesday night on the final stop of his East Asia tour, will grapple with two long-standing U.S. concerns on the Korean Peninsula, one in the nuclear-armed North and the other here in the trade-dependent South.
Counseling helps borrowers avoid foreclosure, study finds
Goldman Sachs, Buffett team to empower small businesses
NEW YORK -- Goldman Sachs announced Tuesday that it would spend $500 million to help small businesses as part of a program offering education, mentoring and access to capital to 10,000 firms. The effort also involves billionaire investor Warren E. Buffett, community colleges and other organizati...
Digest
REGULATION Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, said Tuesday that a House vote on legislation to overhaul the financial regulatory system probably will be delayed until at least the second week of December.
Local Digest: Verizon laying off 1,000 in D.C. area, union says
EMPLOYMENT
Analysis: Outrage over stimulus jobs misguided
Another day, another flurry of outrage over the jobs numbers claimed by the government for the administration's $787 billion economic stimulus program.
In the Loop: C Street house no longer fully tax-exempt
The famous rowhouse on C Street SE where disgraced South Carolina Gov. Mark Sanford sought counseling after his affair -- as did Sen. John Ensign (R-Nev.) after his affair -- has begun paying D.C. real estate taxes, according to city officials.
Russian lawyer who alleged police corruption dies in prison
A Russian lawyer jailed after uncovering evidence of police involvement in the theft of $230 million from the government has died in prison, officials said Tuesday, and his American partner is accusing the authorities of killing him.
Faster Forward: 'Unfriend' goes into the books
Yesterday, the Oxford University Press announced its 2009 Word of the Year: "unfriend."
Fed criticized for not negotiating harder with AIG creditors
Federal Reserve officials made only a passing attempt to negotiate discounts from the creditors of American International Group last fall before directing the company to fully pay what it owed on its troubled derivatives contracts, according to a report from the special inspector general overseei...
GMAC replaces chief executive as it negotiates for more aid
The troubled auto and home lender GMAC Financial Services said Monday that chief executive Alvaro de Molina is stepping down and that Michael A. Carpenter, a member of the company's board of directors, has been named his successor.
Withholding errors could cause millions of taxpayers to repay part of stimulus tax credit
Some 15.4 million taxpayers could receive smaller refunds than they expected or owe taxes next year because they did not have enough money withheld from their paychecks as part of the Making Work Pay tax credit program, according to a report issued Monday.
Obama, Hu vow to continue to strengthen partnership
BEIJING -- President Obama and his Chinese counterpart, Hu Jintao, emerged from two hours of talks Tuesday morning pledging to continue efforts to strengthen the growing partnership between the two countries, and to work together to address global challenges such as climate change, nuclear prolif...
Poll finds deep divisions on health-care reform
As the Senate prepares to take up legislation aimed at overhauling the nation's health-care system, President Obama and the Democrats are still struggling to win the battle for public opinion. A new Washington Post-ABC News poll shows Americans deeply divided over the proposals under consideratio...
$29 billion Treasury program to prop up local housing finance agencies
A Treasury Department program aimed at propping up local housing finance agencies will help inject $29 billion into these groups over the next year, according to government data scheduled to be released Tuesday.
Some Irish residents of rural coastal town continue fighting pipeline
As the road approaches the Shell gas terminal at Ballinaboy, on Ireland's Atlantic west coast, only the posters pinned to the telegraph poles give any hint of the country's longest-running environmental protest.
Bernanke offers grim job outlook, help for dollar
Federal Reserve Chairman Ben S. Bernanke waded Monday into the debate among policymakers over the vigor of the economic recovery, offering a sobering view of what lies ahead in his most detailed comments on the economy in months.
Pioneering gay weekly newspaper Washington Blade abruptly closes
The Washington Blade, the weekly newspaper that chronicled the coming-out of the capital's gay community, was born amid the idealism of 1960s street protests. Monday, the paper died, victim of the unforgiving realities of the nation's sagging newspaper industry.
Genetic research center to be built in Fairfax County
A $200 million genetic research facility planned for Fairfax County could bring with it thousands of jobs over the next decade and spur spinoff businesses that would focus on the fast-growing field of personalized medicine, Virginia officials and researchers said Monday as they announced the move.
Business Digest: Lowe's profit falls as housing slowly improves
EARNINGS Lowe's reported a 30 percent drop in third-quarter profit, saying the housing market, on which it depends for sales, is slowly improving.
Kuwait-based military contractor accused of inflating food prices
A major Kuwait-based military contractor was indicted Monday for allegedly defrauding the U.S. government by submitting inflated bills and false claims under contracts through which it has supplied $8.5 billion in food and other products to the American military in Iraq, Kuwait and Jordan over the...
Lockheed to realign unit; job cuts possible
Bethesda-based Lockheed Martin said Monday that it is revamping its missile-making Electronic Systems unit and appointing a new person to head it -- moves that could result in an undisclosed number of job losses after the giant defense contractor lost two lucrative deals at its facility in Owego,...
Nabi makes deal for smoking vaccine
The Rockville maker of an experimental nicotine vaccine has signed a licensing deal with pharmaceutical giant GlaxoSmithKline that could produce a huge payday if the anti-smoking drug can be successfully brought to market.
Local Digest: Chamber's Donohue wanted off Sunrise board
CORPORATE GOVERNANCE Tom Donohue, president of the U.S. Chamber of Commerce, should be voted off the board of Sunrise Senior Living for failing in his oversight duties during an accounting scandal, two shareholder advisory companies said.
USPS posts $3.8 billion loss as volume plummets
The U.S. Postal Service posted a $3.8 billion net loss during the fiscal year that ended in September, despite $6 billion in cost-cutting moves. Total mail volume fell more steeply than ever -- by 25.6 billion pieces, or almost 13 percent, more than double any decline in postal history. Worse, the...
FDA questions delay approval of Human Genome Sciences anthrax drug raxibacumab
Human Genome Sciences said Monday that approval of its experimental anthrax drug hit a delay as regulators asked the firm for more information about the treatment.
Hunger a growing problem in America, USDA reports
The nation's economic crisis has catapulted the number of Americans who lack enough food to the highest level since the government has been keeping track, according to a new federal report, which shows that nearly 50 million people -- including almost one child in four -- struggled last year to g...
Obama-themed items no longer for sale in China
BEIJING -- President Obama spent the second day of his state visit to China in the capital Monday, and the government adopted a two-track policy toward Obama memorabilia for sale here: Obama dressed as Superman was in, and Obama dressed as a Red Guard was out.
Revamped GM loses $1.2 billion
General Motors lost $1.2 billion in the first 83 days after it emerged from bankruptcy protection in July, the company announced Monday.
THIS WEEK, Nov. 16-20
This week should offer both some important reads on the state of the economic recovery -- and what policymakers think of the road ahead.
Value Added: Terrapin Adventures in Howard County makes owner Matt Baker's ÃÂheart sing'
Entrepreneur Matt Baker's outdoor Terrapin Adventures in Howard County has a 43-foot climbing tower, a 2-G-force giant swing and an adrenaline-pumping, 330-foot-long cable "zip line" that slings you along at 20 mph, 30 feet above the forest floor.
GM to start repaying debt to U.S. government next month
General Motors is expected to announce on Monday that it will begin repaying its debt to the United States next month, years earlier than required.
CIT's bankruptcy raises new questions about bailout
NEW YORK -- A year ago, the financial system was tottering and government officials arranged a $2.3 billion emergency cash infusion into CIT Group, a troubled lender to small businesses.
TD Bank plans major move into area
The financial meltdown that left many big banks reeling has created opportunities for others, including one Canadian-owned giant that has set its aim on Washington as one of its major new markets.
On eve of Obama visit, an uneasy co-dependency between U.S. and China
BEIJING -- The U.S. and Chinese economies -- the world's largest and the fastest-growing major economy, respectively -- have become inextricably intertwined, locked in a kind of co-dependency that neither side thinks is particularly healthy, but which for the moment neither will move to break.
Opponents of health-care effort look to fund a critical economic study
The U.S. Chamber of Commerce and an assortment of national business groups opposed to President Obama's health-care reform effort are collecting money to finance an economic study that could be used to portray the legislation as a job killer and threat to the nation's economy, according to an e-m...
Study questions Vytorin and Zetia in heart disease treatment
A widely prescribed and expensive cholesterol drug is not as effective as niacin, a cheap vitamin, in helping to unclog coronary arteries in people already taking statins, the standard medicines used to lower cholesterol, according to a new study.
FACE TIME
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Eastern Virginia District Alexandria Division
These firms recently filed with the U.S. Bankruptcy Court's local court clerk's offices.
Position : Chief executive of SOC Enterprises, an Alexandria-based nonprofit assisting people with disabilities to obtain employment.
New at the Top: Linda Chandler of SOC Enterprises
After graduating from college with a degree in chemistry, most of the jobs I qualified for involved working in laboratories. But I like people much more. So I went to business school to broaden my skills so that I could prepare to work in management for a large organization. I found that studying...
Already under fire, long-term-care insurer sends bad data to workers
The already beleaguered long-term-care program for federal employees has mailed out more than 70,000 forms with mistakes about potential premiums, and as a result, it is pushing back the selection deadline for those workers to March 15, 2010.
French town cannot let bookstore die
POLIGNY, FRANCE - Just off the town square, a few hundred feet down La Grande Rue, a bookstore has been dispensing culture and entertainment to the people of Poligny for 150 years. Over the generations, residents said, it has become part of the landscape, a place where children tarry on the way h...
That upward stock market arrow may be about to burst your balloon
With a close over 10,270 on Friday, the Dow Jones industrial average had its best showing of 2009. Like the day a few weeks earlier when it broke the five-figure mark for the first time since October 2008, the market's achievement was greeted not by champagne and celebration, but by introspection...
Research pays before you lay money down
With each tick higher in the market, more and more investors are working up the courage to get back in. But that's been hard for some who, burned by big losses and rattled by so many reports of financial scandal, still struggle with fundamental questions:
Overdraft fees: Finally, fair warning
It only took a deep recession but finally the need to protect consumers is outweighing the almighty concern for business to make a buck.
For job seekers, it's still dress to impress
Whenever Eddie VanArsdall ventures out to sell himself in a job interview, he errs on the side of being too dressy instead of not dressed up enough.
Obama to Asia: Don't rely on debt-laden U.S. consumers
SINGAPORE--Declaring the world at "one of those rare inflection points in history," President Obama told the leaders of China and other Asian countries Sunday that they can no longer rely on debt-laden American shoppers to fuel their economies and that the United States must consume less and expo...
On Obama trip to seal economic ties with Asia, trade policy threatens a rift
SINGAPORE -- Hours after declaring that China's growing economic muscle doesn't pose a threat, President Obama traveled Saturday night to this usually pro-American city-state to wrestle with another tricky issue: Is the United States itself the troublemaker?
Google relents with revised digital books settlement
In a move to allay its critics and the Justice Department, Google filed in federal court a revised legal settlement that would allow it to distribute millions of digital books online.
Nonpartisan agency says House bill would reduce senior care
A plan to slash more than $500 billion from future Medicare spending -- one of the biggest sources of funding for President Obama's proposed overhaul of the nation's health-care system -- would sharply reduce benefits for some senior citizens and could jeopardize access to care for millions of ot...
Retailers tighten belts to bring numbers up
Retailers cut costs and slashed inventory to reach better-than-expected profits during the third quarter but warned that consumers remain reluctant to shop.
Europe emerges from recession
LONDON -- Buoyed by strengthening rebounds in Germany and France, the 16-nation euro zone has officially climbed out of its worst recession since World War II, fueling hopes that a lasting global recovery is beginning to take shape.
Drug firm Emergent to expand
Rockville pharmaceutical firm Emergent BioSolutions announced on Friday that it has acquired a building in Baltimore where it intends to expand the development and testing of its drugs.
U.S. trade gap widens
A weaker dollar may boost the nation's economy by increasing exports and narrowing the trade gap -- but that won't happen anytime soon.
Health-care reform and abortion coverage: Questions and answers
After the House passed its health-care bill last weekend, debate exploded over an amendment by Reps. Bart Stupak (D-Mich.) and Joe Pitts (R-Pa.) that restricts abortion coverage.
Health insurers could be allowed to bypass some key reforms
Nobody wants to spend a lot of time and energy -- and taxpayer money -- and end up where they started. But that's what could happen with one of the principal elements of health reform, the "exchange" or "gateway."
Résumé Rx: At entry level, strong verbs and descriptions are key
Jeffrey Look, who holds a bachelor's degree in psychology, is looking for a job or internship in human resources, botany or psychology before returning to school for a graduate degree. He's not sure what types of experiences to include on his résumé.
8 lines of questioning for your broker
SOURCE: SEC's investor education Web site, Investor.gov
How market contrarians win their bets
In his classic book "The Money Masters," John Train recounts how just after the start of World War II, a young John Templeton placed an order to buy $100 worth of every stock that traded on a U.S. exchange for $1 per share or less. After the broker reported that he'd bought every such stock except...
Strict refund policies may offend but are ethical
Q: Recently I tried to get a refund on some merchandise for which I no longer had the sales receipt. But I was told that I was out of luck and that I couldn't even get a store credit. I was offended. Do you think this policy is ethical?
Get creative to land a holiday job
Q: How can I find a job for the holidays, and when and where should I start looking?
Regulators seize 3 more banks
Regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades.
Bank repossessions down in D.C. area
Bank repossessions of homes in the Washington area declined last month but are on pace to surpass last year's total in most parts of the region by the end of the year, according to data released Thursday by RealtyTrac.
Obama calls summit on job creation
President Obama plans to hold a White House forum on job creation next month, an attempt to signal his concern about the growing ranks of the unemployed and build consensus on future action to stoke the economy.
Banks to prepay FDIC for failures
The Federal Deposit Insurance Corp. will collect $45 billion from the banking industry to cover the rising cost of bank failures, an unprecedented assessment that reflects the agency's projections that the current round of failures will not peak until next year.
Fed takes aim at overdraft penalties
The Federal Reserve will begin banning banks from charging many overdraft fees unless customers sign up for the service, an unprecedented move that comes as a wave of consumer reform sweeps Washington.
Downturn stalls U-Md.'s plans for upscale East Campus district
The University of Maryland has suffered a setback in its plan for East Campus, a proposed district of upscale restaurants, shops and housing that it hopes will build a stronger sense of a college town in College Park.
Pension Benefit Guaranty Corp.'s deficit nearly doubles to $22 billion
The government-chartered company that insures the pensions of one in seven Americans said Friday that its deficit this year nearly doubled to $22 billion.
Wash Post Business
The Washington Post Business and Economy section provides coverage and analysis of economic policy,business policy and financial news as it relates to Washington,D.C.,the federal government and individual agencies. Washington Post Business also offers video,discussions and blogs about major economic issues.
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