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| WSJ.com: What's News US |
| Strong Sales Lift Wal-Mart Net Thu, 17 May 2012 07:55:19 EDT Wal-Mart's fiscal first-quarter earnings rose 10% on stronger-than-expected revenue and same-store sales in its key U.S. stores. |
| U.S. Stock Futures Inch Up Thu, 17 May 2012 07:09:19 EDT U.S. stocks nudged slightly higher before the opening bell and were poised to end their recent losing streak after the Fed indicated that additional monetary easing could be on the way. |
| Sears Swings to Profit on Asset Sales Thu, 17 May 2012 06:49:48 EDT Sears Holdings swung to a profit in its fiscal first quarter on a boost from shedding some real estate, as it revealed plans to trim its stake in Sears Canada. |
| Bankia Shares Dive on Deposit Concerns Thu, 17 May 2012 07:46:05 EDT Shares in Bankia plummeted as small investors scrambled to sell their holdings after a newspaper report stoked fears that customers were withdrawing deposits after the government stepped in to rescue the bank. |
| Pinterest Valued at $1.5 Billion Thu, 17 May 2012 01:26:38 EDT Pinterest, the online scrapbooking website that has become the latest Silicon Valley darling because of its rapid user growth, has raised $100 million in a financing round that values the start-up at $1.5 billion, said people familiar with the matter. |
| SEC Probes Role of Fund in CDOs Wed, 16 May 2012 23:48:46 EDT U.S. securities regulators are investigating hedge-fund firm Magnetar Capital, which bet on several mortgage-bond deals that wound up imploding during the financial crisis. |
| HSBC Assures Investors on Profitability Thu, 17 May 2012 06:55:00 EDT HSBC said it expects to hit the top end of its $2.5 billion to $3.5 billion cost-savings target by the end of 2013. |
| 3i Names CEO, Seeks Turnaround Thu, 17 May 2012 06:41:23 EDT 3i Group said it has appointed Simon Borrows as its new chief executive officer, a widely expected move that many in the market hope will act as a trigger to reverse the company's falling share price. |
| CBA Reports 3% Gain in Cash Profit Thu, 17 May 2012 01:47:26 EDT Commonwealth Bank of Australia reported disappointing results for its fiscal third quarter, sending its shares down more than 2%. |
| GM Claims Immunity for Old Cars Wed, 16 May 2012 23:47:03 EDT GM pushed a lawyer to drop a potential punitive-damages claim involving a prebankruptcy vehicle involved in a fatal accident, asserting a level of immunity in that some lawyers claim is a stretch. |
| Gupta Loses Bid to Bar Key Tapes Wed, 16 May 2012 19:03:22 EDT In a key pretrial ruling in the insider-trading case against Rajat Gupta, a federal judge said he would allow prosecutors to play at trial three wiretap recordings, which lawyers for the former Goldman Sachs director had sought to keep from a jury. |
| Fed Minutes Reflect Wariness Thu, 17 May 2012 03:59:31 EDT Federal Reserve officials were worried about risks to the recovery in April when they decided to continue their easy-money policies to bolster the economy. |
| GE Capital Resumes Dividend Wed, 16 May 2012 19:56:25 EDT General Electric is again able to take cash out of its hulking finance arm in the form of a $475 million quarterly dividend. |
| 3M Begins Untangling 'Hairballs' Thu, 17 May 2012 03:46:00 EDT 3M, which used to have a convoluted production process for some products, is trying to untangle these "hairballs" to cut costs. |
| Apple Moves to Larger iPhone Screens Thu, 17 May 2012 07:06:04 EDT Apple is likely to increase the screen size on its coming iPhone. The company is asking Asian suppliers to make screens measuring at least 4 inches diagonally. The current iPhone has a 3.5-inch display. |
| Skechers Settles With FTC Wed, 16 May 2012 23:46:46 EDT Skechers will pay $50 million to resolve allegations it made unfounded claims that its "toning shoes" would help consumers tone muscles and lose weight. |
| Asia Markets Finish Mixed Thu, 17 May 2012 06:59:23 EDT Asian markets ended mixed, stabilizing after the previous day's heavy selling as worries over Europe subsided for the moment; the Shanghai Composite gained 1.4%. |
| Dish Runs Ads to End All Ads Wed, 16 May 2012 23:52:02 EDT Dish Network is promoting its new "Auto Hop" ad-skipping DVR with a marketing campaign that, ironically, uses a TV commercial. Some networks are refusing to run the spot. |
| Housing Starts Rise Wed, 16 May 2012 09:23:43 EDT U.S. home construction grew in April, and a separate report noted that industrial output rebounded last month, signs of stabilizing recovery. |
| Coty Chooses Banks for IPO Wed, 16 May 2012 20:23:45 EDT Coty picked Bank of America Merrill Lynch and J.P. Morgan Chase as lead underwriters for an IPO, likely this summer or in early fall. The IPO plan follows Coty's decision to walk away from its offer for Avon. |
| 'Dallas' Remake to Air on TNT Wed, 16 May 2012 19:24:06 EDT Turner Broadcasting told advertisers at the annual "upfront" presentation that it plans to add 14 new original shows to its TNT and TBS cable networks. They include a remake of "Dallas," with Larry Hagman reprising his role as J.R. Ewing. |
| Time Warner Cable, Viacom Settle iPad Dispute Wed, 16 May 2012 16:48:01 EDT Time Warner Cable said it will resume live streaming of some Viacom-owned TV channels to customers' iPads following a legal settlement with Viacom. |
| Google Makes Its Search Engine Smarter Wed, 16 May 2012 18:14:56 EDT Google said it is rolling out an extensive update to its dominant search engine by using troves of data to refine the answers it provides to user queries on specific topics. |
| Standard Chartered Chief Sounds Economic Alarm Wed, 16 May 2012 15:15:26 EDT Peter Sands, Standard Chartered's group chief executive, is warning that more bank lending and more government spending is needed to boost the global economy. |
| Target Raises Profit Outlook Wed, 16 May 2012 10:32:19 EDT Target Corp. raised its full-year earnings outlook as the "cheap chic" retailer reported that profit for the latest quarter edged up. Sales were stronger than expected, but costs related to its expansion in Canada held down the bottom line. |
| Asian Firms Plan Canada Gas Project Wed, 16 May 2012 12:52:07 EDT Energy companies from China, South Korea and Japan, along with Shell, agreed to ship billions of dollars worth of Canadian liquefied natural gas to Asian markets. |
| Ackman Gains Support in CP Railway Proxy Fight Wed, 16 May 2012 11:32:32 EDT Hedge-fund manager Bill Ackman has been racking up shareholder support in his effort to install new board members and replace the management team at Canadian Pacific Railway. |
| Crib Tents Recalled Wed, 16 May 2012 13:25:02 EDT The Consumer Product Safety Commission said five retailers are voluntarily recalling crib tents and play-yard tents made by the now-defunct Tots in Mind, due to strangulation and entrapment hazards. |
| Euro-Zone Inflation Concerns Persist Wed, 16 May 2012 08:39:50 EDT Euro-zone inflation slowed too little in April to dispel concerns consumer prices will damage the region's growth prospects in coming months. |
| Repsol Files Suit Against Argentina Wed, 16 May 2012 10:39:13 EDT Spanish oil firm Repsol YPF said it had filed a lawsuit against Argentina in a court in New York after the country nationalized the company's local unit. |
| Staples Profit Declines on Soft Sales in Europe Wed, 16 May 2012 10:32:26 EDT Staples' fiscal first-quarter earnings fell 5.6% as the office-supply company grappled with weaknesses in international operations, particularly Europe. |
| Deere Beefing Up Output on Farm Strength Wed, 16 May 2012 18:25:46 EDT Deere is speeding its production expansion, brushing aside concerns that the market for its farm tractors and combines has peaked, and offered an improved outlook for the global farm economy. |
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| Word of the day |
Merriam-Webster's Word of the Day for May 17, 2012 is:
maffick • \MAF-ik\ • verb
: to celebrate with boisterous rejoicing and hilarious behavior
Examples:
Fans mafficked for hours outside the stadium, celebrating the team's dramatic victory in the division championship.
"In half an hour, after the mildest of mafficking, the last visitors of the exhibition's last day had gone out of the gates and the staff began their final acts of closing up shop." — From an article in The Guardian (London), October 1, 2011
Did you know?
"Maffick" is an alteration of Mafeking Night, the British celebration of the lifting of the siege of a British military outpost during the South African War at the town of Mafikeng (also spelled Mafeking) on May 17, 1900. The South African War was fought between the British and the Afrikaners, who were Dutch and Huguenot settlers originally called Boers, over the right to govern frontier territories. Though the war did not end until 1902, the lifting of the siege of Mafikeng was a significant victory for the British because they held out against a larger Afrikaner force for 217 days until reinforcements could arrive. The rejoicing in British cities on news of the rescue produced "maffick," a word that was popular for a while, especially in journalistic writing, but is now relatively uncommon.