NYT > Business

Griping Online? Comcast Hears and Talks Back

By BRIAN STELTER — Fri, 25 Jul 2008 12:27:47 GMT

Some customers like the company’s responses to online criticism; others see an eerie version of “Big Brother.”

Surprise Lift in Durable Goods Orders

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 12:52:16 GMT

New orders for long-lasting manufactured goods rose surprisingly on demand for metals, machinery and electrical equipment, a government report showed.

Blacks in Congress Split Over Menthol Cigarettes

By STEPHANIE SAUL — Fri, 25 Jul 2008 05:03:08 GMT

A bill that would outlaw flavored cigarettes — except for a type many black smokers choose — has opened a rift.

Your Money: Housing Bill Has Something for Nearly Everyone

By RON LIEBER — Fri, 25 Jul 2008 12:28:28 GMT

If you think the housing bailout bill will benefit only troubled homeowners, you may miss out on a windfall.

Sunlight on a ‘Dark Market’

By DIANA B. HENRIQUES — Fri, 25 Jul 2008 05:05:41 GMT

Congress has hurled vitriol at the IntercontinentalExchange, but its founder views the business as one of the country’s “most regulated commodity exchanges.”

At Ford, End of a Big-Vehicle Era Takes a Toll

By BILL VLASIC and NICK BUNKLEY — Fri, 25 Jul 2008 05:52:36 GMT

The automaker, stunned by abysmal sales of its most profitable vehicles and a sudden shift in consumers’ tastes, suffered its worst quarter ever.

At Troubled UBS, a Homecoming of Sorts

By JULIA WERDIGIER — Fri, 25 Jul 2008 05:19:38 GMT

Luqman Arnold, who accumulated a 2.5 percent stake in UBS, wants to repair UBS corporate governance by removing what he called “insiders” from the board of directors.

Southwest Turns a Profit for 69th Straight Quarter

By MICHELINE MAYNARD — Fri, 25 Jul 2008 05:11:50 GMT

Southwest Airlines, the largest U.S. low-fare airline, saw profits rise and beat Wall Street expectations by relying on hedge arrangements that lowered fuel costs.

Denied Visa, Chief of BP Joint Venture Is Forced to Leave Russia

By ANDREW E. KRAMER — Fri, 25 Jul 2008 05:14:38 GMT

The development is the latest twist in a rising nationalism that is shutting Western oil companies out of energy-rich regions and has wide implications for BP.

Europe Fails to Endorse Milk and Meat From Clones

By STEPHEN CASTLE — Fri, 25 Jul 2008 05:13:57 GMT

Europe’s Food Safety Authority pulled back from giving milk and meat from cloned animals a clean bill of health, reducing the chances such products will reach stores soon.

Warnings From Daimler and Renault

By DAVID JOLLY — Fri, 25 Jul 2008 05:53:08 GMT

In another sign of stress for automakers, Daimler and Renault reduced their outlooks in the face of higher steel and oil prices and an economic slowdown.

Stocks & Bonds: Home Sales and Bank Worries Send Stocks Down

By MICHAEL M. GRYNBAUM — Fri, 25 Jul 2008 05:09:03 GMT

Disappointing June home sales and new worries about banks dragged the Dow Jones industrial average down 283.10 points, or 2.43 percent, its worst loss in a month.

Advertising: Microsoft Seeks an Ad Friend in Facebook

By BRAD STONE and MIGUEL HELFT — Fri, 25 Jul 2008 05:16:47 GMT

It failed in its pursuit of Yahoo. It is paying people to use its search engine. Now Microsoft thinks it has found a source of users for its foundering search service: Facebook.

Senate Asks 9 Insurers to Furnish Information

By MARY WILLIAMS WALSH — Fri, 25 Jul 2008 05:14:54 GMT

The Senate is investigating whether insurance companies are forcing able-bodied people to apply for Social Security disability benefits.

Change in Arbitration Panels Will Allow Investors Only

By GRETCHEN MORGENSON — Fri, 25 Jul 2008 05:12:21 GMT

Investors who think they have been wronged by brokers will be able to have their cases heard by panels consisting only of their peers, with no industry participants.

Fed and S.E.C. Push for Tougher Bank Rules

By REUTERS — Fri, 25 Jul 2008 08:31:22 GMT

The head of the S.E.C. urged Congress to give his agency power to oversee investment banks, even as a top Federal Reserve official said the Fed needed similar powers.

Credit Suisse Earnings Fall 62% but Top Expectations

By REUTERS — Fri, 25 Jul 2008 05:15:15 GMT

Credit Suisse posted a smaller-than-expected fall in earnings as it managed more cash for the world’s wealthy and its investment banking unit returned to profit.

Weak Ad Sales Trim Profit at McClatchy and Scripps

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 05:15:54 GMT

Earnings at the newspaper publisher and media company fell more than 40 percent in the second quarter on sharp declines in newspaper revenue.

Restructuring Costs Reduce Xerox Earnings

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 06:25:17 GMT

Second-quarter profit at Xerox skidded 19 percent on reorganization charges, but the company matched Wall Street’s forecast.

Missile Sales Help Profit at Raytheon

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 05:15:29 GMT

The military contractor said it earned $426 million, or $1 a share, in the quarter, down from $1.33 billion, or $2.97 a share, in the year-earlier period.

Dow Chemical Reports Profit Decline

By REUTERS — Fri, 25 Jul 2008 06:22:47 GMT

The chemical maker reported net income of $762 million, or 81 cents a share. That was down from a year-ago profit of $1.04 billion, or $1.07 a share.

Profits Rise Slightly at 3M

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 06:22:38 GMT

In the quarter, the company earned $945 million, or $1.33 a share, compared with $917 million, or $1.25 a share, in the period a year earlier.

Earnings Decline 10% at Kimberly-Clark

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 05:12:08 GMT

The company’s chief executive, Thomas J. Falk, said that previous price increases to offset higher energy and input costs had not kept up with the rise in commodities.

Profits Up, Drug Makers Pledge to Cut More Jobs

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 05:17:01 GMT

On a day when the major stock indexes were down significantly, the drug makers’ shares got little traction despite their fairly strong reports.

Genentech Weighs Takeover

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 05:16:05 GMT

Genentech said it had formed a special committee, consisting of its three independent board members, to consider a takeover bid from Roche Holding.

Books of The Times: Prowling in the Land of Unequal Opportunity

By RICHARD EDER — Fri, 25 Jul 2008 04:09:18 GMT

The best of the pieces in this book about unequal opportunity in America are something quite different from journalism. They are small absurdist gems.

Shifting Careers: Venture Financing With a Mission Beyond Profit

By MARCI ALBOHER — Fri, 25 Jul 2008 05:49:14 GMT

Ray Leach leads a nonprofit called Jumpstart that aims to boost growth in the Cleveland area by providing seed money to promising local ventures.

The Road Ahead for Ford Is Full of Smaller Cars

By BILL VLASIC — Fri, 25 Jul 2008 05:52:42 GMT

With gas at $4, Ford is redirecting billions of dollars to build more small cars in a move that Alan R. Mulally, Ford’s chief, hopes will help the automaker thrive, not just survive.

Economic Growth Rate in New York Slows Down

By PATRICK MCGEEHAN — Fri, 25 Jul 2008 06:11:24 GMT

The growth of the city economy slowed to a crawl at the start of this year, falling below the national rate, according to a comptroller’s report.

Report on Shriners Raises Question of Wrongdoing

By STEPHANIE STROM — Fri, 25 Jul 2008 05:46:07 GMT

The findings of an investigative committee suggest that questionable financial dealings identified at local Shrine temples may also plague the national organization.

Hyundai Motor Profit Slips as Sales Rise

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 03:11:53 GMT

SEOUL, South Korea (AP) -- South Korea's Hyundai Motor said Thursday that its second-quarter net profit declined nearly 11 percent despite higher sales, and vowed to fight high oil prices by aggressively exporting more fuel efficient vehicles.

Occidental Petroleum Profit Rises

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 03:12:02 GMT

HOUSTON (AP) -- Oil producer Occidental Petroleum Corp. said Thursday its second-quarter profit rose 62 percent, as record crude prices and higher production boosted results.

National City Posts $1.8 Billion Loss

By REUTERS — Fri, 25 Jul 2008 03:12:10 GMT

National City, a large regional bank, posted $1.76 billion in losses, hurt by soaring losses on mortgage and construction loans and a write-down for acquisitions.

Bristol Profit Beats Forecasts, Helped by Plavix

By REUTERS — Fri, 25 Jul 2008 03:12:59 GMT

The company earned $764 million, or 38 cents per share, compared with $706 million, or 36 cents per share, in the year-earlier period.

Union Pacific Profit Rises, Beats Estimates

By REUTERS — Fri, 25 Jul 2008 03:13:17 GMT

Union Pacific, the largest U.S. railroad company reported better-than-expected profit as strong pricing offset rising fuel costs and lower freight volumes.

RadioShack Profit Falls, Sales Rise

By REUTERS — Fri, 25 Jul 2008 03:13:09 GMT

RadioShack reported higher-than-expected profit on a surprise increase in sales, but the electronics retailer said the economic environment continues to be challenging.

Sidney Craig, 76, a Founder of Jenny Craig, Dies

By DENNIS HEVESI — Fri, 25 Jul 2008 07:53:39 GMT

With his wife, Genevieve, Mr. Craig founded Jenny Craig Inc., the chain of weight-loss centers, which would eventually open more than 600 centers in four countries.

Honda Reports Record Profit

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 12:38:37 GMT

TOKYO (AP) -- Honda Motor Co. reported record profit for a fiscal first quarter Friday as sales growth in new markets offset the damage from a stronger yen and soaring material costs.

Samsung Electronics Reports Surge in Profit

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 12:37:02 GMT

SEOUL, South Korea (AP) -- South Korea's Samsung Electronics said Friday that second-quarter net profit grew 51 percent compared with the same quarter last year led by its liquid crystal display and mobile phone businesses.

More Subscribers Boost Netflix Results

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 12:40:11 GMT

LOS GATOS, Calif. (AP) -- Netflix says its second-quarter profit rose 4 percent, helped by a 25 percent increase in subscriptions and the introduction of a device that allows customers to stream video directly to their TVs.

Arch Coal’s Earnings Triple

By THE ASSOCIATED PRESS — Fri, 25 Jul 2008 12:41:04 GMT

ST. LOUIS (AP) -- Coal-producing Arch Coal Inc. said Friday its second-quarter profit tripled, beating Wall Street's expectations as the miner benefited from soaring global prices and tighter coal supplies.