News money 2008-08-08 Andanh.com

Battling for bucks Thursday August 7, 2008
NEW YORK - Retailers preparing for a difficult back-to-school season are getting creative in their attempts to entice shoppers into the stores - aggressively introducing new products, slashing prices and amping up marketing in the battle for parents' bucks.

Hanover Insurance to buy AIX Holdings of Conn. Thursday August 7, 2008
WORCESTER - Following on the acquisition of two insurance companies to build products and services for its agent partners, The Hanover Insurance Group Inc. yesterday announced that it had entered into a definitive agreement through which the company will purchase all of the stock of AIX Holdings Inc.

P&G to leave Devens Thursday August 7, 2008
Procter & Gamble Co. will close its packaging and warehousing operations at Devens over the next two years, a move that will eliminate about 350 full-time jobs, as the Cincinnati-based company shifts technology and production among its worldwide facilities.

Freddie Mac loses $821M Thursday August 7, 2008
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.

Oil prices hit a new low on concerns about demand Thursday August 7, 2008
NEW YORK - Oil prices briefly dropped below $118 a barrel yesterday - $30 below their record high - after a jump in U.S. crude and other fuel supplies fed beliefs that high energy prices are eating into demand.

Stocks continue gains as oil declines again Thursday August 7, 2008
NEW YORK - Wall Street logged another winning day yesterday as a drop in oil prices and a better-than-expected profit report from technology bellwether Cisco Systems Inc. helped corral the market's worries about the financial sector.

Treasury Dept. rules against transferring pension plans Thursday August 7, 2008
WASHINGTON - The Bush administration dealt a blow to the already reeling financial services sector yesterday, ruling that companies can't transfer their pension plans to large banks to be managed for a profit.

JetBlue to open new terminal Thursday August 7, 2008
NEW YORK - As a symbol of the last century of flight sits in its shadow, a new JetBlue terminal at John F. Kennedy International Airport is undergoing a series of tests ahead of its scheduled opening on Oct. 1.

Cape Commerce Fri, 08 Aug 2008 06:00 EST

Tidal Rock, a Cape and Islands-inspired clothing line, will host a benefit tomorrow to raise funds for the Nantucket Conservation Foundation. The barbecue, bocce tournament and bluegrass concert will be held from 4 to 8:30 p.m.

Reward offered on Plimoth Plantation vandalism Fri, 08 Aug 2008 06:00 EST

PLYMOUTH — Officials at Plimoth Plantation have announced a reward for information on vandalism and theft at the replica 1627 English village.

P'town grocer stocks up on health complaints Fri, 08 Aug 2008 06:00 EST

PROVINCETOWN — The health department's file on the Grand Union Family Market has thickened in recent months with four new written complaints, including one from local physician John Livingstone, who serves on the town board of health.

Study ranks Lexus as most reliable car Fri, 08 Aug 2008 06:00 EST

WASHINGTON — Toyota Motor Co.'s Lexus brand recaptured the top spot in J.D. Power and Associates annual survey of long-term vehicle quality released yesterday, which found a 5 percent reduction of problems found in three-year-old models.

Consumers' dollar stretching squeezes retailers Fri, 08 Aug 2008 06:00 EST

NEW YORK — With the benefits of their stimulus checks dried up, Americans are focusing even more on necessities like detergent and milk.

Citigroup to buy back $7B in securities Fri, 08 Aug 2008 06:00 EST

WASHINGTON — Citigroup Inc.

Brewster showcased on Fox's 'Zip Trip' Fri, 08 Aug 2008 06:00 EST

BREWSTER — "Zip Trip," a live, weekly broadcast from different New England towns featuring historic landmarks, local people, shops and restaurants, will feature Brewster today beginning at 6 a.m.

'Abuse' seen in 40B law Thu, 07 Aug 2008 23:34:40 -0400
A state Senate oversight committee has scheduled a hearing next month to address concerns that affordable housing developers may have abused state laws, and to review the...

Fund king Pallotta to leave Tudor, start firm Thu, 07 Aug 2008 21:54:08 -0400
Jim Pallotta, a star money manager for Tudor Investment Corp. and co-owner of the Boston Celtics, is leaving Tudor to start his own firm. The Boston investor, who's...

Casinos could net $600M Thu, 07 Aug 2008 21:52:18 -0400
The great Bay State gambling debate is back after a brief summer vacation. The Patrick administration yesterday released a long-awaited report evaluating Massachusetts'...

Stephanie's to get little sister Thu, 07 Aug 2008 21:49:20 -0400
Ever since the May closure of Garden of Eden, a longtime cafe and gathering spot in Boston's South End, it's been rumored that restaurateur Stephanie Sokolove had...

Fish distances himself from project Thu, 07 Aug 2008 21:29:03 -0400
Construction magnate John Fish distanced himself yesterday from an affordable housing development that is being scrutinized by the state's Inspector General. "I...

Communities seek millions from builders Thu, 07 Aug 2008 21:28:19 -0400
Frustrated by the lack of progress on the state level, some Bay State communities are taking 40B cost recovery matters into their own hands. Boxboro: In...

Biotech biggies bash health-care gift-disclosure measure Thu, 07 Aug 2008 21:10:55 -0400
Biotech giants Amgen Inc., Biogen Idec Inc. and state representatives have appealed to Gov. Deval Patrick to nix proposed legislation that would require pharmaceutical companies...

Securities suit nets $1.5M for Hopkinton, N. Bedford Thu, 07 Aug 2008 20:48:41 -0400
Massachusetts investors will get back millions of dollars from major Wall Street firms as a result of two settlements announced yesterday regarding the controverisal sale...

Report: Jim Pallotta leaving Tudor to start own firm Thu, 07 Aug 2008 16:01:01 -0400
Jim Pallotta, a star money manager for Tudor Investment Corp. and co-owner of the Boston Celtics, is leaving Tudor to start his own firm. The famous Boston investor,...

Stock falls on weak jobs report, Wal-Mart sales Thu, 07 Aug 2008 14:12:35 -0400
NEW YORK - Wall Street retreated today after weekly unemployment claims jumped to a six-year high and Wal-Mart Stores Inc. and other retailers reported disappointing sales,...

Citigroup returning billions to investors Thu, 07 Aug 2008 13:37:52 -0400
WASHINGTON - Citigroup Inc. will buy back more than $7 billion in auction-rate securities and pay $100 million in fines as part of settlements with federal and state regulators,...

Oil prices rise after pipeline fire in Turkey Thu, 07 Aug 2008 10:40:38 -0400
NEW YORK - Oil prices jumped back above $120 a barrel today, rising for the first time in four days after Kurdish rebels reportedly admitted causing a fire at an oil pipeline...

Retailers report mixed sales results in July Thu, 07 Aug 2008 08:30:55 -0400
NEW YORK - Americans faced with high gas and food prices focused even more on necessities and shunned clothing purchases in July, resulting in solid gains for discounters...

Lexus once again tops JD Power dependability study Thu, 07 Aug 2008 08:33:48 -0400
NEW YORK - Lexus once again stands alone atop a closely watched list of vehicle dependability after Buick slipped from the No. 1 spot it shared with the Japanese luxury brand...

Toyota reports fall in fiscal first-quarter profit Thu, 07 Aug 2008 08:17:27 -0400
TOKYO - Toyota's fiscal first-quarter profit plunged 28 percent from the previous year as slipping North American sales, a strong yen and rising material costs dented...

Oil sinks on stronger dollar to $115 a barrel Fri, 08 Aug 2008 18:10:57 -0400
NEW YORK - Oil prices dove to $115 a barrel today, driven lower by a huge jump in the U.S. dollar, signs of moderating demand around the world and the burgeoning belief that...

Lockheed Martin fined $4M over foreign arms sales Fri, 08 Aug 2008 16:47:25 -0400
WASHINGTON - Lockheed Martin Corp. will pay $4 million to settle federal charges that it took unauthorized steps to sell missiles overseas and revealed classified information,...

Stocks jump as oil prices fall sharply Fri, 08 Aug 2008 16:45:34 -0400
NEW YORK - Wall Street rebounded sharply today as a surge in the dollar and a resulting drop in oil prices eased some of investors' worries about losses at mortgage finance...

Mass. E. coli cases linked to Whole Foods beef Fri, 08 Aug 2008 16:25:43 -0400
State health officials have linked seven cases of E. coli to ground beef from local Whole Foods Markets that the affected persons ate last month. The Massachusetts Department...

Pilots complain airlines restrict fuel to cut cost Fri, 08 Aug 2008 12:35:05 -0400
WASHINGTON - Pilots are complaining that their airline bosses, desperate to cut costs, are forcing them to fly uncomfortably low on fuel. Safety for passengers and crews...

Fannie Mae loses $2.3B in quarter as defaults rise Fri, 08 Aug 2008 12:29:35 -0400
WASHINGTON - Fannie Mae swung to a second-quarter loss that was more than triple what Wall Street expected as conditions in the housing market continued to deteriorate, forcing...

Fed's "options" auction starts later this month Fri, 08 Aug 2008 11:36:22 -0400
WASHINGTON - Wall Street firms will have an opportunity to bid on options to borrow super-safe Treasury securities at Federal Reserve auctions starting later this month. The...

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