Saturday, October 20, 2012

Yahoo! News: Health News

Yahoo! News: Health News

Wall Street Week Ahead: Investors face earnings blitz with dread

Posted: 19 Oct 2012 07:49 PM PDT

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - U.S. earnings started the quarter on the wrong foot, and things have only gotten worse. Expectations for the third quarter were dismal, with forecasts for a decline in profits from a year ago. But a recent flurry of high-profile reports has investors scowling at the weak revenue numbers, adding to worries about the state of the U.S. economy and the outlook for corporate America. "The earnings season is not looking very bright," said Larry Peruzzi, senior equity trader at Cabrera Capital Markets Inc., in Boston. ...

GE, McDonald's give Wall Street a black eye on '87 crash date

Posted: 19 Oct 2012 05:47 PM PDT

Traders work on the floor of the New York Stock Exchange at the opening of the trading session in New YorkNEW YORK (Reuters) - Stocks ended the week on Friday with their worst day since late June after Dow components General Electric and McDonald's, both barometers of the overall economy's health, added to a disappointing earnings season. Technology shares kept up a pattern of recent weakness, hurt by anemic results from Microsoft and another losing day for Google . The Nasdaq closed down 2.2 percent. For the Dow, Friday's slide marked its biggest loss since June 21 - with the sell-off coming on the 25th anniversary of Black Monday, when the Dow plunged 22. ...

Canada blocks $5.2 billion Petronas bid for Progress Energy

Posted: 20 Oct 2012 06:07 AM PDT

Motorists pump natural gas at a Petronas station in Kuala LumpurTORONTO/KUALA LUMPUR (Reuters) - Canada has blocked Malaysian state oil firm Petronas' C$5.17 billion ($5.2 billion) bid for gas producer Progress Energy Resources in a surprise move that could signal problems for a much larger Chinese deal in the country's energy sector. Canada's announcement late on Friday, minutes before a deadline, was a blow to Petronas whose domestic oil supplies are shrinking and which has been seeking to boost its resources beyond Malaysia and volatile areas such as Sudan. It also raises doubts over Chinese oil group CNOOC's C$15. ...

Analysis: U.S. companies take aim at pension risk with lump-sum offers

Posted: 20 Oct 2012 08:30 AM PDT

A view shows the AT&T store sign in Broomfield, ColoradoNEW YORK (Reuters) - Corporate America is finally ready to deal with a monkey on its back: massive pension obligations. AT&T Inc on Friday said it plans to contribute a $9.5 billion stake in its wireless business to its underfunded pension plan. Earlier this week, Verizon Communications Inc moved to unload $7.5 billion in pension obligations to insurer Prudential Financial Inc. ...

BP backs Rosneft bid for stake in TNK-BP: Kommersant

Posted: 20 Oct 2012 05:14 AM PDT

BP logo is seen at a fuel station of British oil company BP in St. PetersburgMOSCOW (Reuters) - BP has approved Russian group Rosneft's bid to buy out the British oil company's stake 50 percent stake in its Russian joint venture TNK-BP , Kommersant reported. Separately, the Financial Times reported that BP's board would continue its discussion on the matter over the weekend, adding the reception given to the bid was generally favorable. BP is ready to cede its stake in TNK-BP, Russia's third largest oil producer, to Rosneft, strengthening the Russian state company's grip on the energy sector. ...

Murdoch eyes LA Times, Chicago Tribune

Posted: 20 Oct 2012 01:54 AM PDT

News Corp Chairman and CEO Rupert Murdoch gestures as he speaks at the "The Economics and Politics of Immigration" Forum in BostonLOS ANGELES (Reuters) - News Corp Chairman and CEO Rupert Murdoch is looking to buy the Los Angeles Times, one of the country's largest newspapers, from struggling media conglomerate Tribune Co, a source familiar with his plans told Reuters on Friday. News Corp executives -- including Murdoch's son James -- flew into Los Angeles twice this month to take a preliminary look at the storied daily's books, said the source, who spoke on condition of anonymity because the meetings were not publicized. ...

Democratic donors energize "Super PACs" as election nears

Posted: 20 Oct 2012 01:55 AM PDT

A copy of U.S. President Barack Obama's book "The Audacity of Hope" is held by a supporter looking for an autograph during a campaign rally at George Mason University in FairfaxWASHINGTON (Reuters) - Democratic donors gave unprecedented amounts of money in September to their party's three main "Super PACs," federal disclosures revealed on Friday, a reflection of how wealthy Democrats' reluctance to give to such groups has faded in the weeks before the November 6 election. A fundraising laggard for much of the campaign, the political action committee (PAC) backing President Barack Obama raised more than a rival group backing Republican Mitt Romney, the second consecutive month the Democratic group had done so. ...

Starbucks brand hit by UK tax criticism

Posted: 20 Oct 2012 01:22 AM PDT

A customer sips her coffee in Starbucks' Mayfair Vigo Street branch in central LondonLONDON (Reuters) - Starbucks's reputation among consumers in Britain has been hit by wave of criticism of its tax affairs from politicians and the media, pollster YouGov said. A Reuters report showed the coffee chain paid no tax on 1.2 billion pounds of sales in recent years by telling the taxman it was making no profit, even as it told investors the unit was "profitable". YouGov said its BrandIndex survey of 2,000 people showed a drop in the its reputation score to -26 from +3. ...

India suspends Kingfisher Airlines' licence

Posted: 20 Oct 2012 08:41 AM PDT

People are silhouetted as Kingfisher Airlines' aircrafts are seen parked at an airport in New DelhiNEW DELHI (Reuters) - Kingfisher Airline's licence was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. Controlled by Vijay Mallya - the self-styled "King of Good Times" - and seven months behind on salary payments among other missed bills, Kingfisher's fleet has been grounded since the start of the month when a staff protest turned violent. The airline, which has never made a profit since being founded in 2004 and reeling under $1. ...

Exclusive: Credit Suisse to sell European ETF business - sources

Posted: 19 Oct 2012 02:28 PM PDT

A logo is seen in front of a Credit Suisse building in ZurichNEW YORK (Reuters) - Credit Suisse Group AG has put its $17.2 billion European exchange-traded fund business up for sale, according to sources familiar with the matter. BlackRock Inc and State Street Global Advisors, the asset management arm of State Street Corp , are among the firms that have bid for the business, three of the sources said. The first round of bids was due in early October and the investment banking arm of Credit Suisse is representing its parent company on the deal, they said. With 58 ETFs, Credit Suisse is the fourth-largest ETF provider in Europe, with 5. ...

Dow down 205 as weak earnings drag market lower

Posted: 19 Oct 2012 02:30 PM PDT

FILE - In this Thursday, Oct. 18, 2012, file photo, traders work on the floor of the New York Stock Exchange. World stock markets fell Friday as disappointing U.S. corporate earnings provided a reason to book profits on recent gains while investors waited for a progress report from European leaders concluding a summit on the region's debt crisis. Wall Street also looks set to retreat. (AP Photo/Richard Drew, File)Poor corporate earnings reports pounded the stock market Friday in a sour end to an otherwise strong week of trading. The Dow Jones industrial average fell more than 200 points for its worst day in four months.

Retail group against revised card settlement

Posted: 19 Oct 2012 08:14 PM PDT

A proposed settlement in a class-action lawsuit brought by retailers and trade groups against Visa Inc. and MasterCard Inc. fails to protect merchants from abuse by credit card companies, a national retail group says.

Illinois Amtrak train hits 111 mph in test run

Posted: 19 Oct 2012 03:53 PM PDT

Illinois Gov. Pat Quinn, left, U.S. Transportation Sec. Ray LaHood, center, and US Sen. Dick Durbin, D-Ill., celebrate after the Amtrak train they are riding reached 110 mph during a test run between Dwight and Pontiac, Ill., on Friday, Oct. 19, 2012, in Pontiac, Ill. (AP Photo/Charles Rex Arbogast)For the first time on a key Midwestern route between Chicago and St. Louis, an Amtrak passenger train topped 110 mph Friday, ripping through fog-shrouded farm fields and blowing past cars on a parallel highway.

Indian gov't suspends Kingfisher license

Posted: 20 Oct 2012 03:55 AM PDT

The Indian government on Saturday suspended the license of Kingfisher Airlines, which has been struggling to resume flights following a strike by pilots and engineers who have not been paid for months.

Romney and Obama head to their debate prep corners

Posted: 20 Oct 2012 05:09 AM PDT

Republican presidential candidate, former Massachusetts Gov. Mitt Romney, left, addresses supporters as his vice presidential running mate Rep. Paul Ryan, R-Wis., listens at the Daytona Beach Historic Bandshell during the Romney Ryan Victory Rally in Daytona Beach, Fla., Friday, Oct. 19, 2012. (AP Photo/Phelan M. Ebenhack)With one debate left, President Barack Obama and challenger Mitt Romney are retreating from the campaign trail to bone up on foreign policy, leaving the work of courting voters to their running mates.

Newsweek had unique troubles as industry recovers

Posted: 19 Oct 2012 02:27 PM PDT

A copy of Newsweek is seen at Joe's Smoke, Thursday, Oct. 18, 2012, in Portland, Maine. Newsweek announced Thursday, Oct. 18, 2012 that it will end its print publication after 80 years and shift to an all-digital format in early 2013. Its last U.S. print edition will be its Dec. 31 issue. The paper version of Newsweek is the latest casualty of a changing world where readers get more of their information from websites, tablets and smartphones. (AP Photo/Robert F. Bukaty)Newsweek's decision to stop publishing a print edition after 80 years and bet its life entirely on a digital future may be more a commentary on its own problems than a definitive statement on the health of the magazine industry.

Tribal court disputed in Grand Canyon bridge fight

Posted: 19 Oct 2012 06:22 PM PDT

FILE - in this March 20, 2012 file photo, people walk on the Grand Canyon Skywalk during the First Walk event at the Grand Canyon on the Hualapai Indian Reservation at Grand Canyon West, Ariz. On Friday, Oct. 19, 2012, Las Vegas developer David Jin's attorneys will argue before the 9th Circuit U.S. Court of Appeals in San Francisco that the Hualapai tribal court system is manipulated by members of the Tribal Council, hasn't given Jin a fair shot and that he shouldn't have to fight his legal battles there. (AP Photo/Ross D. Franklin, File)The jurisdiction of a Native American tribal court was challenged Friday by the developer of a popular glass bridge over the Grand Canyon who has been locked in a multi-million dollar contract dispute with an Arizona-based tribe.

Fatal air crash decline presents safety challenge

Posted: 19 Oct 2012 11:01 AM PDT

FILE - In this Feb. 12, 2009, Continental Airlines Flight 3407 operated by Manassas, Va.-based Colgan Air, plane burns after it crashed into a house in Clarence Center, N.Y. Safety experts say airline travel has become so safe in the United States it's hard to justify imposing costly new safety rules on the economically fragile industry. It's been 43 months since the last deadly domestic airline crash, on Feb. 12, 2009. That's the longest period without a fatal accident since commercial aviation expanded after World War II. Government cost-benefit analyses value each life saved at $6.2 million. But modest changes in regulations can cost the industry hundreds of millions of dollars. (AP Photo/David Duprey, File)It's been 43 months since the last deadly airline crash in the United States, the longest period without a fatal domestic accident since commercial aviation expanded after World War II. That sounds like unvarnished good news, but one consequence of having such a remarkable record is that it's difficult to justify imposing costly new safety rules on the economically fragile industry.

Banana Boat recalls sunscreen due to fire risk

Posted: 19 Oct 2012 06:00 PM PDT

A bottle of Banana Boat sunscreen is placed in the sand near the Newport Beach pier in Newport Beach Calif., Friday, Oct. 19, 2012. The maker of Banana Boat sunscreen is recalling some of its spray-on products after reports that a handful of people who have caught on fire after applying the lotion and standing near open flames. The bottle was placed in the sand by the photographer to illustrate this report. (AP Photo/Chris Carlson)The maker of Banana Boat sunscreen is recalling a half-million bottles of spray-on lotion after reports that a handful of people have caught on fire after applying the product and coming in contact with open flames.

London protesters bash Britain's austerity drive

Posted: 20 Oct 2012 09:29 AM PDT

Demonstrators take part in an anti-austerity protest march entitled "a future that works" through central London, Saturday, Oct. 20, 2012. The march Saturday was organized by Britain's TUC (Trades Union Congress) and was attended by various trade unions, community groups and individuals. (AP Photo/Alastair Grant)Tens of thousands of demonstrators descended on the British capital Saturday in a noisy but peaceful protest at a government austerity drive aimed at slashing the nation's debt.

Correction: Nike-Endorsements story

Posted: 20 Oct 2012 09:20 AM PDT

In a story about athletes and corporate endorsements, The Associated Press erroneously described an endorsement by Gabrielle Douglas, the Olympic gymnast. She appeared on boxes of Kellogg's Corn Flakes, not Wheaties, which is made by General Mills.

'War on coal' label obscures battlefield realities

Posted: 20 Oct 2012 08:50 AM PDT

Republican candidates are using the idea of a "war on coal" in their campaigns this year, as in this sign that targets incumbent Democratic U.S. Sen. Joe Manchin in Morgantown, W.Va., on Oct. 16, 2012. Once, coal miners were literally at war with their employers. Today, their descendants are allies in a rhetorical war playing out across eastern Kentucky, southwestern Virginia and all of West Virginia. The message: They now face a common enemy, the federal government, especially the president and the Environmental Protection Agency.(AP Photo/Vicki Smith)Drive through the coalfields of Central Appalachia, and signs of the siege are everywhere.

India suspends Kingfisher Airlines' licence

Posted: 20 Oct 2012 08:41 AM PDT

People are silhouetted as Kingfisher Airlines' aircrafts are seen parked at an airport in New DelhiNEW DELHI (Reuters) - Kingfisher Airline's licence was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. Controlled by Vijay Mallya - the self-styled "King of Good Times" - and seven months behind on salary payments among other missed bills, Kingfisher's fleet has been grounded since the start of the month when a staff protest turned violent. The airline, which has never made a profit since being founded in 2004 and reeling under $1. ...

Unions shift political might to state, local races

Posted: 20 Oct 2012 08:36 AM PDT

FILE - In a Tuesday, March 8, 2011 file photo, potestors stand outside the state Capitol in Lansing, Mich. objecting to proposed legislation that would authorize emergency financial managers to throw out union contracts. Unions are supporting a 2012 ballot initiative that would put collective bargaining rights in the state constitution. (AP Photo/The Detroit News, David Coates, File) MANDATORY CREDITUnions are shifting more of their political resources to state and local races this year as they try to head off passage of laws that could undermine bargaining rights, make it harder to organize or reduce their political muscle.

Analysis: U.S. companies take aim at pension risk with lump-sum offers

Posted: 20 Oct 2012 08:30 AM PDT

A view shows the AT&T store sign in Broomfield, ColoradoNEW YORK (Reuters) - Corporate America is finally ready to deal with a monkey on its back: massive pension obligations. AT&T Inc on Friday said it plans to contribute a $9.5 billion stake in its wireless business to its underfunded pension plan. Earlier this week, Verizon Communications Inc moved to unload $7.5 billion in pension obligations to insurer Prudential Financial Inc. ...

Canada has done enough to cool housing market: Flaherty

Posted: 20 Oct 2012 07:52 AM PDT

TORONTO (Reuters) - Canada has done enough to slow its housing market and prevent a crash like that seen in the United States or Spain, Finance Minister Jim Flaherty said on Saturday. Speaking on CBC Radio, Flaherty said he had no plans to take further action to take froth out of the housing market, after a series of moves to tighten conditions for mortgage lending. The most recent change was in July. ...

Canada blocks $5.2 billion Petronas bid for Progress Energy

Posted: 20 Oct 2012 06:07 AM PDT

Motorists pump natural gas at a Petronas station in Kuala LumpurTORONTO/KUALA LUMPUR (Reuters) - Canada has blocked Malaysian state oil firm Petronas' C$5.17 billion ($5.2 billion) bid for gas producer Progress Energy Resources in a surprise move that could signal problems for a much larger Chinese deal in the country's energy sector. Canada's announcement late on Friday, minutes before a deadline, was a blow to Petronas whose domestic oil supplies are shrinking and which has been seeking to boost its resources beyond Malaysia and volatile areas such as Sudan. It also raises doubts over Chinese oil group CNOOC's C$15. ...

BP backs Rosneft bid for stake in TNK-BP: Kommersant

Posted: 20 Oct 2012 05:14 AM PDT

BP logo is seen at a fuel station of British oil company BP in St. PetersburgMOSCOW (Reuters) - BP has approved Russian group Rosneft's bid to buy out the British oil company's stake 50 percent stake in its Russian joint venture TNK-BP , Kommersant reported. Separately, the Financial Times reported that BP's board would continue its discussion on the matter over the weekend, adding the reception given to the bid was generally favorable. BP is ready to cede its stake in TNK-BP, Russia's third largest oil producer, to Rosneft, strengthening the Russian state company's grip on the energy sector. ...

Cos. walk a tricky line with endorsements

Posted: 20 Oct 2012 05:02 AM PDT

FILE - In this Monday, July 12, 2004, file photo, US Postal Service team leader and five-time Tour de France winner Lance Armstrong, of Austin, Texas, speaks on his cell phone prior to a training session with his teammates in Limoges, central France. Nike forgave a contrite Tiger Woods after his infidelity was exposed. It welcomed back an apologetic Michael Vick once he served time for illegal dog-fighting. But the company dropped Lance Armstrong, Wednesday, Oct. 17, 2012, faster than the famed cycler could do a lap around the block.(AP Photo/Peter Dejong, File)Nike forgave Tiger Woods after he apologized for cheating on his wife. It welcomed back Michael Vick once he served time for illegal dog-fighting. But the company dropped Lance Armstrong faster than the cyclist could do a lap around the block.

TenneT needs time to link North Sea wind farms - report

Posted: 20 Oct 2012 04:04 AM PDT

AMSTERDAM (Reuters) - Dutch state-owned power grid operator TenneT wants more time to link up wind farms in the North Sea with Germany's electricity grid, director Lex Hartman was reported as saying by Dutch news agency ANP. TenneT, which owns TenneT TSO - one of Germany's four grid operators - is responsible for connecting North Sea wind plants to Germany's electricity grid as part of the country's shift away from nuclear power. "The industry is simply not in a position to carry out in three years what was meant to take 10," Lex Hartman said, according to ANP. ...

Indian gov't suspends Kingfisher license

Posted: 20 Oct 2012 03:55 AM PDT

The Indian government on Saturday suspended the license of Kingfisher Airlines, which has been struggling to resume flights following a strike by pilots and engineers who have not been paid for months.

Report: Indian gov't suspends Kingfisher license

Posted: 20 Oct 2012 02:43 AM PDT

A news report says the Indian government has suspended the license of Kingfisher Airlines which has been struggling to resume flights following a strike by pilots and engineers who have not been paid for months.

Dana Gas starts output in Egypt

Posted: 20 Oct 2012 02:13 AM PDT

DUBAI (Reuters) - Dana Gas said on Saturday its Egyptian affiliate had started commercial output at a natural gas liquids (NGL) plant in the North African country, with the first propane cargo loaded on Oct 1. The Egyptian Bahrain Gas Derivatives Co is a joint venture between Dana's subsidiary Danagaz Bahrain, the government-owned Egyptian Natural Gas Holding Co and Arab Petroleum Investments Corp. The Ras Shukheir plant will have a production capacity of 120,000 tonnes a year of propane and butane using gas feedstock supplied by Egyptian General Petroleum Corp. ...

Democratic donors energize "Super PACs" as election nears

Posted: 20 Oct 2012 01:55 AM PDT

A copy of U.S. President Barack Obama's book "The Audacity of Hope" is held by a supporter looking for an autograph during a campaign rally at George Mason University in FairfaxWASHINGTON (Reuters) - Democratic donors gave unprecedented amounts of money in September to their party's three main "Super PACs," federal disclosures revealed on Friday, a reflection of how wealthy Democrats' reluctance to give to such groups has faded in the weeks before the November 6 election. A fundraising laggard for much of the campaign, the political action committee (PAC) backing President Barack Obama raised more than a rival group backing Republican Mitt Romney, the second consecutive month the Democratic group had done so. ...

Murdoch eyes LA Times, Chicago Tribune

Posted: 20 Oct 2012 01:54 AM PDT

News Corp Chairman and CEO Rupert Murdoch gestures as he speaks at the "The Economics and Politics of Immigration" Forum in BostonLOS ANGELES (Reuters) - News Corp Chairman and CEO Rupert Murdoch is looking to buy the Los Angeles Times, one of the country's largest newspapers, from struggling media conglomerate Tribune Co, a source familiar with his plans told Reuters on Friday. News Corp executives -- including Murdoch's son James -- flew into Los Angeles twice this month to take a preliminary look at the storied daily's books, said the source, who spoke on condition of anonymity because the meetings were not publicized. ...

Mauritius finmin says to buy $100 mln in fx to weaken rupee

Posted: 20 Oct 2012 01:29 AM PDT

PORT LOUIS (Reuters) - Mauritius' finance ministry has said it will buy $100 million in foreign currency to try to contain the appreciation of the rupee, which has hurt economic growth. The daily Le Mauricien newspaper cited banking sources on Friday as saying the Accountant General had this week written to local banks to inform them of the decision. Rundheersingh Bheenick, the governor of Bank of Mauritius, confirmed the decision to Reuters late on Friday. ...

Japan agrees to grant Tunisia $600 mln loan guarantee

Posted: 20 Oct 2012 01:24 AM PDT

Tunis (Reuters) - Japan will provide a $600 mln of loan guarantee to support Tunisia's democratic transition and economic recovery, the Tunisian central bank governor said on Friday. Chedli Ayari said that Tunisia got approval after his visit to Japan during the meetings of the International Monetary Fund this month. "The Japanese government granted Tunisia his approval to enable them to issue a loan on the international financial market worth $600 million before the end of the year 2102," Chadli Ayari said without giving more details. Tunisia also expects the U.S. ...

Draft order would give companies cyberthreat info

Posted: 20 Oct 2012 12:50 AM PDT

FILE In this Oct. 10, 2012 file photo, Defense Secretary Leon Panetta speaks at NATO headquarters in Brussels. The military is ready to retaliate if the nation is hit by cyber weapons, according to Panetta, as an executive order is being prepared for President Barack Obama's signature directing U.S. spy agencies to share the latest intelligence about cyber threats with the companies operating electric grids, water plants, railroads and other vital industries to help protect them from electronic attacks. (AP Photo/Virginia Mayo, File)A new White House executive order would direct U.S. spy agencies to share the latest intelligence about cyberthreats with companies operating electric grids, water plants, railroads and other vital industries to help protect them from electronic attacks, according to a copy obtained by The Associated Press.

Unions focus more on state and local races

Posted: 20 Oct 2012 12:31 AM PDT

FILE - In a Tuesday, March 8, 2011 file photo, potestors stand outside the state Capitol in Lansing, Mich. objecting to proposed legislation that would authorize emergency financial managers to throw out union contracts. Unions are supporting a 2012 ballot initiative that would put collective bargaining rights in the state constitution. (AP Photo/The Detroit News, David Coates, File) MANDATORY CREDITUnions are shifting more of their political muscle to state and local races this year as they try to block efforts that undermine bargaining rights, make it harder to organize or reduce labor's clout.
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