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NEWS_764697
Oil price rise a cloud on Wall Street #39;s happiness on results US STOCKS vacillated yesterday as rising oil prices muted Wall Streets excitement over strong results from Lehman Brothers and Sprints \$35 billion acquisition of Nextel Communications.
NEWS_764698
Fannie Mae ordered to restate earnings The staff of the Securities and Exchange Commission has ordered Fannie Mae, the nation #39;s largest buyer of mortgages, to restate its earnings over the last four years after
NEWS_764699
No Static Expected in Sprint-Nextel Deal Industry watchers don #39;t expect any trouble from regulators or competitors when it comes to the proposed Sprint (Quote, Chart) Nextel (Quote, Chart) merger.
NEWS_764700
New rule: Firms must expense options Companies must start expensing employee stock options in earnings statements next year, US accounting rule makers declared on Thursday, a move that could signal the end of a long-standing bookkeeping practice that many argued allowed
NEWS_764701
Leapfrog withdraws #39;04 outlook, gives no estimates Leapfrog Enterprises Inc. (LF.N: Quote, Profile, Research) executives said on Thursday its 2004 results will be quot;significantly below quot; previous forecasts, withdrew its 2004 estimates
NEWS_764702
Higher oil pricing may be in store from OPEC OPEC oil production cuts, announced at a special meeting of that cartels representatives in Cairo, Egypt Friday, are part of a strategy to keep light sweet crude prices above \$40 a barrel.
NEWS_764703
Sprint: Nextel #39;s Savior NEW YORK - Just two months after the announcement that Cingular Wireless will acquire AT amp;T Wireless, Sprint has announced that it plans to buy Nextel Communications for \$35 billion.
NEWS_764704
Telstra Plans to Begin Cutting Middle Managers Next Year Telstra Corp., Australia #39;s biggest phone company, will next year begin cutting the number of workers among its 4,500 middle managers, spokesman Michael Grealy said.
NEWS_764705
ABN AMRO to cut 4,000 jobs in restructuring AMSTERDAM: The Netherlands biggest bank ABN AMRO announced it was cutting more than 4,000 back office and information technology staff on Thursday as it aims to bring its cost base in line with its competitors.
NEWS_764706
Dow Ends Up on J J Deal NEW YORK (Reuters) - U.S. blue chips closed slightly higher on Thursday, helped by Johnson Johnson Inc.'s <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=JNJ.N target=/stocks/quickinfo/fullquote">JNJ.N</A> \$25 billion deal to buy Guidant Corp. <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=GDT.N target=/stocks/quickinfo/fullquote">GDT.N</A>, but the broader market fell, with Goldman Sachs Group Inc. <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=GS.N target=/stocks/quickinfo/fullquote">GS.N</A> dragging the S P 500 lower after posting quarterly revenues that disappointed Wall Street.
NEWS_764707
Symantec shares skid on deal SAN FRANCISCO Symantec, the computer security giant, reached final agreement Thursday to take over the storage and backup program maker Veritas Software, making Symantec the No.4 independent software company in the world.
NEWS_764708
Yukos CFO tells court of threats Yukos chief financial officer Bruce Mismore on Thursday testified that Russian authorities were threatening him with legal action and possible extradition
NEWS_764709
AirAsia choses Airbus over Boeing AirAsia, one of Southeast Asia #39;s biggest low-cost airlines, said Thursday it would buy 40 Airbus A320 aircraft and take options on 40 more.
NEWS_764710
Briefs: Southwest has top bid for ATA Southwest Airlines, the biggest and richest low-fare airline, was the apparent winner Thursday in the bidding war for ATA Airlines, another low-fare carrier that sought bankruptcy protection this autumn.
NEWS_764711
Parmalat is suing 45 more banks MILAN Parmalat, Finanziaria, the bankrupt Italian dairy and food giant, said Thursday that it was suing 45 banks to recover money paid to them in the year before it collapsed.
NEWS_764712
Rules Change Requires Apple to Expense Options The Financial Accounting Standards Board (FASB) has issued a ruling that will require Apple, among other companies, to begin deducting the value of stock options from profits, starting in 2005.
NEWS_764713
Dutch bank to lay off 2,850 staff ABN Amro, the Netherlands #39; largest bank, is to cut 2,850 jobs as a result of falling profits. The cuts - amounting to 3 of the bank #39;s workforce - will result in a one-off charge of 790m euros (\$1.1bn).
NEWS_764714
US bankruptcy judge promises Yukos ruling this week Russian oil company Yukos, possibly making its last stand to prevent Russia from selling its main production unit in a tax dispute, asked a US bankruptcy judge Thursday to block a scheduled auction of the unit.
NEWS_764715
Stock option expensing required next year The independent body charged with setting US accounting standards on Thursday gave hard deadlines for companies to treat stock options as expenses in financial statements.
NEWS_764716
Boobirds Batter Symantec-Veritas Updated from 12:51 pm ESTWithin hours of the announcement that antivirus maker Symantec (SYMC:Nasdaq) and software storage vendor Veritas (VRTS:Nasdaq) would merge, skeptical investors shaved about a billion dollars off the value of the all-stock deal.
NEWS_764717
Continental cuts \$22 mln more in wages, benefits Continental Airlines (CAL.N: Quote, Profile, Research) on Thursday finalized details of wage and benefits cuts for reservations and food service workers that the airline said
NEWS_764718
Fidelity Disciplines 16 Workers Over Gifts (AP) AP - Fidelity Investments on Thursday disciplined 16 employees for violating the mutual fund giant's conflict-of-interest policies covering gifts from brokers to Fidelity's traders.
NEWS_764719
Anlaysis: Yukos seeks legal asylum in US Over the years Russia #39;s embattled oil company Yukos has morphed into a respected corporate citizen of the world and is seeking bankruptcy protection in the United States on the
NEWS_764720
US approves high-flying broadband US DOMESTIC air travellers could be surfing the web by 2006 via government-approved technology that allows people access to high-speed internet connections while they fly.
NEWS_764721
Sepracor Shares Rise on Insomnia Drug OK Drug maker Sepracor Inc. has won federal approval for a prescription insomnia medication the company is counting on to challenge larger rivals in the fast-growing \$2.1 billion-a-year sleep aid market.
NEWS_764722
Wall Street's Designs on '05? A Boom in Merger Activity After years of self-doubt and housecleaning in the wake of Enron, corporate America has gotten a bit of swagger back in its step.
NEWS_764723
Nike's 2nd-Quarter Earnings Jump NEW YORK (Reuters) - Nike Inc. <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=NKE.N target=/stocks/quickinfo/fullquote">NKE.N</A> on Thursday said its second-quarter earnings rose a surprisingly large 46 percent on strong sales in the United States and in emerging markets like China, while a weaker dollar beefed up profits in Europe.
NEWS_764724
Update 1: Thursday #39;s Commodities Roundup Precious metals settled lower Thursday as the US dollar staged a reversal and edged higher on better-than-expected US economic data.
NEWS_764725
Philips sells PC screens arm to TPV Technology By Francesco Guerrera in Hong Kong and Ian Bickerton in Amsterdam. Philips, the Dutch electronics company, on Thursday said it had sold its personal computer screens business to the Taiwanese group TPV Technology
NEWS_764726
Symantec to Buy Veritas for \$13.5 Billion Symantec Corp., the top global security software maker, on Thursday said it will buy data management software company Veritas Software Corp.
NEWS_764727
Philips sells PC monitor and flat TV manufacturing unit Taiwan #39;s TPV Technology Ltd. has agreed to buy the unbranded computer monitor and entry-level flat-screen television manufacturing operations of Dutch consumer electronics giant Koninklijke Philips Electronics NV.
NEWS_764728
Goldman #39;s record revenues fail to meet expectations Goldman Sachs yesterday reported record full-year earnings, following record results from Lehman Brothers earlier in the week and setting the pace for the rest of Wall Street.
NEWS_764729
Symantec to Buy Veritas Software in Deal Worth \$13.5 Billion Symantec, a leader in security software, will acquire Veritas, a maker of data storage programs, to create the world's fourth-largest software company.
NEWS_764730
3 Years After Enron, Resistance to New Rules Grows The issue that is contentious is a rule that is meant to assure that if an investor offers to buy a share for \$25, no stock will be sold for less until his order is filled.
NEWS_764731
Judge in Grasso Trial Was Suggested for Post at Big Board A headhunter for the judge who will preside over Richard A. Grasso's trial sent a copy of the judge's resume to the stock exchange promoting him as a possible board candidate.
NEWS_764732
Trade Data Show Another Record Deficit The broadest measure of the country's trade and investment flows registered a record deficit of \$164.7 billion in the third quarter.
NEWS_764733
Symantec to Buy Veritas Software in Deal Worth \$13.5 Billion The Symantec Corporation, a leader in security software and one of Silicon Valley #39;s oldest companies, announced early Thursday that it would acquire Veritas Software
NEWS_764734
Goldman Sachs Says Earnings Rose 23 for Quarter Goldman Sachs reported a 23 percent increase in earnings for the fourth quarter, driven by robust gains in investment banking, asset management and trading.
NEWS_764735
Parmalat sues 45 banks over bust Parmalat has sued 45 banks as it tries to reclaim money paid to banks before the scandal-hit Italian dairy company went bust last year.
NEWS_764736
US Airways flight attendants OK possible strike The more than 5,000 US Airways flight attendants represented by the Association of Flight Attendants overwhelmingly voted in favor of possible strikes against the carrier.
NEWS_764737
Philips switches strategy pictures through flat screen disposal AMSTERDAM (AFP) - The Dutch electronics group Philips said that it is selling its low-brand flat screens business group to TPV Technology of Taiwan as part of a strategic change of direction, and in line with a trend by big groups to use Asian partners to
NEWS_764738
Kidde succumbs to 17m #39;sweetener #39; By Alistair Osborne, Associate City Editor (Filed: 17/12/2004). United Technologies Corporation clinched the acquisition of Kidde yesterday after sweetening its 165p-a-share offer for the fire protection group with a final dividend of 2p per share.
NEWS_764739
Wrapping Up #39;National Assets #39; Recent developments in Russia all point in one direction: The Kremlin #39;s energy sector policy has shifted to more aggressive efforts of direct control.
NEWS_764740
Kremlin Reasserts Hold on Russia's Oil and Gas A judge in Houston tried to temporarily halt Russia's planned auction of the most profitable unit of oil giant Yukos.
NEWS_764741
Regulators Adopt Tighter Rules on Accounting for Stock Options Accounting regulators adopted rules yesterday requiring publicly traded companies to treat the stock options they give to employees as normal business expenses.
NEWS_764742
Fidelity Disciplines 16 Traders Over Gifts From Brokers The mutual fund giant Fidelity Investments disciplined 16 traders yesterday, two of whom have left the firm, as part of an extensive investigation into whether employees improperly accepted gifts and entertainment from brokers.
NEWS_764743
Yukos seek US court order to block forced sale in Russia The crisis-hit Russian oil company Yukos sought refuge in a United States bankruptcy court yesterday, telling the presiding judge it had no recourse within Russia #39;s judicial system.
NEWS_764744
J amp;J takes heart from 13bn deal Johnson amp; Johnson announced a \$25.4bn (13.1bn) deal yesterday to buy Guidant Corporation, giving the healthcare company a stake in the fast-growing market for devices that regulate heartbeats.
NEWS_764745
Oil futures stabilize above US\$44 a barrel after jump in prices Oil futures stabilized Thursday after a jump in prices the previous day that reflected a drop in US crude and heating oil stocks even as demand was rising with cold weather spreading across the US Northeast and Midwest.
NEWS_764746
UTC to buy Kidde in 1.4bn deal Kidde, the UK fire and safety products company, said yesterday it had accepted a cash offer from United Technology Corporation that values the group at 1.442bn.
NEWS_764747
Update 4: Companies Told to Start Expensing Options The nation #39;s accounting rulemaker decided Thursday that companies will have to begin deducting the value of stock options from their profits next year, reigning in a cheap way to compensate workers that had been abused by executives and clouded earnings.
NEWS_764748
Nikkei Up 1.61, Buying in Futures Noted TOKYO (Reuters) - Japan's Nikkei average rose 1.61 percent by midsession on Friday on a wave of short-covering after some players bet the country's economic slowdown wouldn't last long and bought stock futures while selling bond futures.
NEWS_764749
FASB Orders Options Counted as Expenses Accounting standards setters yesterday issued a long-awaited plan requiring companies to treat stock options as expenses on their books, even as lobbyists vowed to derail the initiative before it takes effect in June.
NEWS_764750
US Airways, Flight Attendants Closer to Deal The lead negotiators for US Airways flight attendants reached a tentative agreement on a new contract that will save the carrier about \$94 million a year, officials from both sides said yesterday.
NEWS_764751
3Com Posts Wider-Than-Expected Loss 3Com Corp. (COMS.O: Quote, Profile, Research) on Thursday posted a wider-than-expected second-quarter loss, amid stiff competition from Cisco Systems Inc.
NEWS_764752
Judge Orders Halt to YUKOS Unit Auction HOUSTON (Reuters) - A U.S. bankruptcy court on Thursday stepped into the battle between YUKOS and the Russian government, issuing an order to block Sunday's auction of the company's main oil-producing arm for 10 days.
NEWS_764753
Oil Creeps Higher, Eyes New US Cold Front SINGAPORE (Reuters) - Oil prices resumed this week's upward march on Friday, driven by worries that a new U.S. cold spell might erode already low winter fuel inventories.
NEWS_764754
Nikkei Up 1.5 Pct, Year-End Rally Eyed TOKYO (Reuters) - Tokyo stocks posted strong rises by Friday afternoon as hopes for a seasonal year-end rally and the imminent inclusion of oil and gas developer INPEX Corp. into the TOPIX index, spurred buying in a wide range of stocks.
NEWS_764755
Adobe Profit Up, Shares Fall on Outlook SAN FRANCISCO (Reuters) - Software maker Adobe Systems Inc.<A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=ADBE.O target=/stocks/quickinfo/fullquote">ADBE.O</A> on Thursday posted a quarterly profit that rose more than one-third from a year ago, but shares fell 3 percent after the maker of Photoshop and Acrobat software did not raise forecasts for fiscal 2005.
NEWS_764756
3Com Posts Wider-Than-Expected Loss CHICAGO (Reuters) - 3Com Corp. <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=COMS.O target=/stocks/quickinfo/fullquote">COMS.O</A> on Thursday posted a wider-than-expected second-quarter loss, amid stiff competition from Cisco Systems Inc. <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=CSCO.O target=/stocks/quickinfo/fullquote">CSCO.O</A> and others in the telecommunications networking market.
NEWS_764757
FASB Orders Options Counted as Expenses Accounting standards setters Thursday issued a plan requiring companies to treat stock options as expenses, while lobbyists vowed to derail the initiative.
NEWS_764758
Radio One Considers Return to D.C. Radio One Inc.'s chief executive said Thursday he is lobbying District officials to support a plan to move his company's headquarters from Maryland to the District.
NEWS_764759
US Airways, Flight Attendants Closer to Deal The lead negotiators for US Airways flight attendants reached a tentative agreement on a new contract that will save the carrier about \$94 million a year, officials from both sides said yesterday.
NEWS_764760
New Rule May Help Business-Lobby PACs A rule change proposed by the Federal Election Commission yesterday could substantially enhance the clout of the nation's business lobbies, campaign-finance lawyers said.
NEWS_764761
Housing Starts Took Plunge in November The number of housing units on which builders began work plunged 13.1 percent in November from the previous month, the biggest monthly drop in nearly 11 years, according to the Commerce Department.
NEWS_764762
Merger Activity Hits Record High Johnson Johnson's \$25.4 billion takeover of Guidant Corp. and the \$35 billion union of Sprint Corp. and Nextel Communications Inc. are leading the busiest quarter for mergers in more than four years. <FONT face="verdana,MS Sans Serif,arial,helvetica" size="-2" color="#666666"><B>-The Washington Post</b></font>
NEWS_764763
Big Pharma #39;s Rx to Rise and Shine Investors and insomniacs can rest easy: The Food amp; Drug Administration approved Lunesta, Sepracor #39;s (SEPR ) new drug for sleeplessness, on Dec. 15.
NEWS_764764
Nikkei Surges to Highest Close in 4 Weeks TOKYO (Reuters) - Japan's Nikkei average surged to its highest close in four weeks on Friday as hopes for a seasonal year-end rally and the imminent inclusion of oil and gas developer INPEX Corp. into the TOPIX index spurred buying in a wide range of stocks.
NEWS_764765
Houston court rules on suspending sale of Yukos subsidiary Russia #39;s oil giant Yukos requested to block the auctioning off of its main production unit Yuganskneftegaz in Moscow on Sunday.
NEWS_764766
Cell phones in the air: Convenience or curse? Just when air travel seems to have become our national gripe, along comes a possibility to make us appreciate flight as we now know it: A cabin full of people talking, loudly and simultaneously, on their cell phones.
NEWS_764767
SEC Orders Fannie Mae to Restate Securities and Exchange Commission chief accountant Donald Nicolaisen has requested that the Federal National Mortgage Association (Fannie Mae) restate its financials from 2001 through mid-2004 to eliminate the use of hedge accounting.
NEWS_764768
eBay buys Rent.com for \$415 million eBay announced late Thursday that it had acquired the apartment rental service Rent.com for \$415 million, the latest move in its expansion beyond Internet auctions.
NEWS_764769
Agreement offers flexibility and cash to bankrupt airline SAN FRANCISCO (CBS.MW) -- ATA Holdings, the bankrupt parent of ATA Airlines, took a key step Thursday toward salvaging more of its struggling operations.
NEWS_764770
Property Fund Says to Hold YUKOS Auction (Reuters) Reuters - Russia's Federal Property Fund said on\Friday it intended to go ahead with an auction of oil major\YUKOS' main unit Yuganskneftegaz despite a U.S. court decision\to freeze the state-imposed sale.
NEWS_764771
Property Fund Says to Hold YUKOS Auction MOSCOW (Reuters) - Russia's Federal Property Fund said on Friday it intended to go ahead with an auction of oil major YUKOS' main unit Yuganskneftegaz despite a U.S. court decision to freeze the state-imposed sale.
NEWS_764772
EBay to Buy Rent.com for \$415 Mln in Cash and Stock (Update2) EBay Inc., the world #39;s largest Web auctioneer, agreed to buy privately held Rent.com for \$415 million in cash and stock to expand in the online real-estate market.
NEWS_764773
Nikkei Surges to One-Month High TOKYO (Reuters) - Japan's Nikkei share average rose to its highest close in four weeks on Friday as hopes grew for a seasonal year-end rally.
NEWS_764774
Nikkei Surges to Highest Close in 4 Weeks Japan #39;s Nikkei average surged to its highest close in four weeks on Friday as hopes for a seasonal year-end rally and the imminent inclusion of oil and gas developer INPEX Corp.
NEWS_764775
Russia to Hold YUKOS Auction MOSCOW (Reuters) - Russia said on Friday it would go ahead with an auction to sell the key asset of embattled oil company YUKOS <A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=YUKO.MM target=/stocks/quickinfo/fullquote">YUKO.MM</A> despite a U.S. bankruptcy court decision to block it for several days.
NEWS_764776
Technology SAN JOSE, Calif. -- Retailers expected Apple Computer Inc. #39;s iPod music player to be a hot item this holiday season but are still struggling to keep up with demand.
NEWS_764777
States #39; Pocketbooks Are Fuller, but Health Costs Stall Recovery The fiscal condition of the states improved this year, but soaring health costs have made it difficult for them to recover from the worst fiscal crisis in six decades, the National Governors Association said Thursday.
NEWS_764778
Russia to Hold YUKOS Auction MOSCOW (Reuters) - Russia said on Friday it would go ahead with an auction to sell the key asset of embattled oil company YUKOS despite a U.S. bankruptcy court decision to block it for several days.
NEWS_764779
Historic buildings to be sold Boston Wharf offered \$97m Boston Wharf Co. today is set to sell about half of its remaining portfolio of historic brick buildings in the Fort Point Channel area to Berkeley Investments Inc. for \$97 million, Berkeley executives said yesterday.
NEWS_764780
Boston sampler Citizens Energy boss Joe Kennedy, like his famous uncle Ted, opposes the huge wind farm proposal in Nantucket Sound, his backyard. But the "Call Joe-4-Oil" Kennedy is working hard to also become "Joe-4-Wind" elsewhere.
NEWS_764781
IPod demand white-hot Many holiday shoppers are struggling to find one of the most explosively popular gifts in years: Apple's iPod digital music player that stores 5,000 songs in a device no bigger than a deck of cards.
NEWS_764782
Gillette hopes to create a buzz with vibrating women's razor Gillette Co. yesterday unveiled its newest razor -- one that promises to make a buzz in women's shaving.
NEWS_764783
Symantec to acquire Veritas Computer security giant Symantec Corp. is buying storage and backup program specialist Veritas Software Corp. to create the world's fourth-largest software maker, marking the latest merger in an industry trend that's expected to compress the competition to a few juggernauts.
NEWS_764784
Board rules options be counted as expenses The nation's accounting rule maker decided yesterday that companies will have to begin deducting the value of stock options from their profits next year, reining in a cheap way to compensate workers that had been abused by executives and clouded earnings.
NEWS_764785
US deficit widens to \$164.7 billion The deficit in the broadest measure of trade climbed to a record high of \$164.7 billion in the third quarter of this year, reflecting Americans' hardy demand for imported oil and foreign-made goods.
NEWS_764786
Banknorth-TD Bank merger gets backing Banknorth Group's largest shareholder, Private Capital Management, said it plans to vote in favor of the merger with Canada's TD Bank Financial Group after expressing reservations several months ago. The change increases the likelihood the merger will go through. Several of Banknorth's major shareholders had reservations because of the deal's structure. TD plans to acquire a majority stake in the ...
NEWS_764787
Ex-Pennichuck CEO settles In an unusual settlement to a lengthy investigation of the former chief executive of one of New Hampshire's largest utilities, state and federal regulators yesterday said Pennichuck Corp. will make a special payment of \$280,000 to its shareholders.
NEWS_764788
The Dollar Extends Gains TOKYO (Reuters) - The dollar extended gains on Friday after a positive batch of U.S. economic data prompted speculators to buy the currency before trade trickles down during the year-end holiday season.
NEWS_764789
Harvard cardiologist a key player in Guidant deal Beverly H. Lorell took a leave from her academic job last year to become chief medical and technology officer for Guidant Corp. The post puts her at the center
NEWS_764790
Board rules options be counted as expenses The nation #39;s accounting rule maker decided yesterday that companies will have to begin deducting the value of stock options from their profits next year, reining
NEWS_764791
Growth was key to J amp;J, Guidant deal Guidant Corp. #39;s 10-year run as one of Indiana #39;s most successful public companies will end with a \$25 billion sale to health products giant Johnson amp; Johnson.
NEWS_764792
Time Warner pays \$510m to settle fraud probe Time Warner said yesterday that it had agreed to pay the US government \$510 million (R3 billion) to resolve criminal and civil charges that its America
NEWS_764793
Fannie Mae whistle-blower feels vindicated by SEC decision Roger Barnes, a former Fannie Mae accounting manager, leaped onto the national stage this fall when he accused the mortgage-finance giant of cooking its books
NEWS_764794
AirAsia ordering 40 Airbus planes Airbus won an order to sell 40 planes to AirAsia, Southeast Asia #39;s largest discount airline, beating out Boeing. The Kuala Lumpur-based airline said in a statement to the Malaysian stock
NEWS_764795
ATA sees Southwest as a savior ATA Airlines founder J. George Mikelsons was driving to Chicago from Indianapolis when the life-saving phone call came through for his troubled airline.
NEWS_764796
Omni BioTech to pay penalty and halt sales The state has effectively shut down a Marysville-based company that allegedly misled consumers about the effectiveness of breast-enlargement, weight-loss and sexual-dysfunction products it marketed through Web sites.