News money 2008-08-07 Andanh.com

11 charged in credit card fraud case Wednesday August 6, 2008
BOSTON - The Department of Justice announced yesterday that it had charged 11 people in connection with the hacking of nine major U.S. retailers and the theft and sale of more than 41 million credit and debit card numbers.

Energy firm's revenues double Wednesday August 6, 2008
DEVENS - American Superconductor Corp. saw revenue double and losses narrow in the first quarter of 2008, but the energy technology company's net loss was higher than analysts expected because of warrant charges and a higher tax rate, the company reported.

Fed leaves interest rate unchanged Wednesday August 6, 2008
WASHINGTON - Confronted by problems at every turn - rising unemployment, shaky growth, credit troubles and creeping inflation - the Federal Reserve left an important interest rate unchanged, taking a gamble that for now the best move was no move at all.

Converting trash to cash Wednesday August 6, 2008
GLENSHAW, Pa. - Forklifts rumble around the scrapyard, grabbing pieces of metal and plunking them on scales: Will the junk be worth a tank of gas or a cart of groceries?

Wall Street extends rally on Fed decision Wednesday August 6, 2008
NEW YORK - An already soaring Wall Street extended its advance yesterday after the Federal Reserve left interest rates unchanged and assuaged some of the market's fears about the economy. The Dow Jones industrial average shot up more than 330 points, and all the major indexes had gains approaching 3 percent.

Cape commission weighs farms' role in land-use policy Thu, 07 Aug 2008 06:00 EST

BARNSTABLE — Farm stands are hot. "Grow local, buy local" is a more popular slogan than either presidential candidate has come up with so far. Organic veggies are hip.

Wall Street CEOs dissect industry crisis Thu, 07 Aug 2008 06:00 EST

NEW YORK — A group of Wall Street executives released a report yesterday that outlined how the industry failed to foresee the financial meltdown of the last year and what companies can do to improve risk management.

Sandwiches sold in Mashpee recalled Thu, 07 Aug 2008 06:00 EST

BOSTON — The Massachusetts Department of Public Health has announced a recall of several types of ready-to-eat sandwiches sold at Roche Brothers and Sudbury Farms stores in the eastern part of the state, including the Roche Brothers supermarket in...

Pension fund falls, director still gets bonus Thu, 07 Aug 2008 06:00 EST

BOSTON — The executive director of the state's pension fund is getting a $64,000 bonus even though the fund lost more than $1 billion.

Payments late? Best act firmly Thu, 07 Aug 2008 06:00 EST

As a small-business owner, you do your best to meet your obligations to your customers.

Freddie falls harder Thu, 07 Aug 2008 06:00 EST

NEW YORK — Freddie Mac yesterday posted a second-quarter loss that was more than three-times larger than Wall Street expected as a huge number of borrowers with good credit fell behind on their exotic and risky mortgages.

ANNOUNCEMENTS Thu, 07 Aug 2008 06:00 EST

Nicole Cummings of Dennis has received a Certificate of Achievement from the Massachusetts Developmental Disabilities Council after completing a 10-week Self-Advocacy Leadership course in Attleboro.

Gillette slashing jobs Wed, 06 Aug 2008 22:17:12 -0400
Gillette is shaving hundreds of jobs from its local work force. The giant razor and grooming products subsidiary of Procter & Gamble Co. announced yesterday it will...

Developer wants to build South Boston soundstage Wed, 06 Aug 2008 22:17:02 -0400
Welcome to Southie-wood. Developer Tim Pappas is floating plans to build an L.A.-style movie production complex on a vacant lot he owns at the corner of West First and...

Missing millions Wed, 06 Aug 2008 22:16:26 -0400
Hub powerbroker John Fish, his father Edward Fish and two partners in a Braintree affordable housing development are being probed by state and town officials for potentially...

The Ticker Wed, 06 Aug 2008 21:25:12 -0400
Massachusetts' pension fund pulled $2 billion in assets from Legg Mason Inc. and four other firms, citing "inconsistent performance." The $50.6 billion fund's...

Wall Street advances after oil declines Wed, 06 Aug 2008 16:51:47 -0400
NEW YORK - Wall Street logged another winning day today as a drop in oil prices and a better-than-expected profit report from technology bellwether Cisco Systems Inc. helped...

Mass. pension fund fires five managers Wed, 06 Aug 2008 16:33:28 -0400
BOSTON - The board that manages the state's $50.6 billion pension fund has fired five firms that managed a $1.82 billion U.S. stock portfolio, citing poor performance. The...

2nd NY judge rejects hedge swindler's flee plea Wed, 06 Aug 2008 14:22:51 -0400
WHITE PLAINS, N.Y. - A federal judge has ruled that the New York hedge-fund swindler who faked his suicide rather than report to prison in Massachusetts is not competent enough...

Oil prices drop below $118 after inventory report Wed, 06 Aug 2008 13:24:36 -0400
NEW YORK - Oil prices slipped below $118 a barrel today - $30 under their record high - after a jump in U.S. crude and other fuel stockpiles fed beliefs that high energy prices...

Bidding starts anew for $35B Air Force tanker deal Wed, 06 Aug 2008 11:16:19 -0400
WASHINGTON - The Pentagon opened a second round of bidding Wednesday for a $35 billion Air Force tanker contract following an error-plagued first attempt that featured bitter...

State pension fund chief getting bonus Wed, 06 Aug 2008 06:01:45 -0400
BOSTON - The executive director of the state's pension fund is getting a $64,000 bonus even though the fund lost more than $1 billion. Michael Travaglini, whose $322,000...

Office tower sales prices decline in U.S. Wed, 06 Aug 2008 22:35:52 -0400
Office towers are starting to lose value after a long run-up in prices, a new survey finds. The sale price of office towers and buildings nationwide fell 5.5 percent...

Ex-Hub talk host John DePetro faces ratings scandal Wed, 06 Aug 2008 22:40:07 -0400
Ex-Boston radio gabster John DePetro is in the midst of yet another controversy. A ratings cheating scandal uncovered in Rhode Island boosted DePetro's ratings on...

Ad shop on lacrosse team's roster Wed, 06 Aug 2008 22:34:14 -0400
For Andrew Graff, it pays to know sports. Graff's advertising firm Allen & Gerritsen is creating the brand identity for the Boston Blazers professional indoor...

Greyhound scraps ads after Canada bus beheading Wed, 06 Aug 2008 13:34:00 -0400
TORONTO - Greyhound has scrapped an ad campaign that extolled the relaxing upside of bus travel after one of its passengers was accused of beheading and cannibalizing another...

Average ER waiting time nears 1 hour, CDC says Wed, 06 Aug 2008 12:32:24 -0400
ATLANTA - The average time that hospital emergency rooms patients wait to see a doctor has grown from about 38 minutes to almost an hour over the past decade, according to...

Ford launching blind-spot mirror on Edge this fall Wed, 06 Aug 2008 12:45:07 -0400
DEARBORN, Mich. - Ford Motor Co. said today it will introduce its new blind-spot mirror this fall on the 2009 Ford Edge crossover. The automaker had planned to bring the...

Mercedes' cars global sales rise 1 percent in July Wed, 06 Aug 2008 11:35:45 -0400
FRANKFURT, Germany - Carmaker Daimler AG said today its Mercedes-Benz Cars division sold 105,100 vehicles globally last month, a 1 percent increase from a year earlier, with...

Nissan shows test models of electric car, hybrid Wed, 06 Aug 2008 07:21:33 -0400
YOKOSUKA, Japan - Nissan showed on Wednesday a spiffy electric car packed with a battery developed by the Japanese automaker to deliver more power than the type common in...

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