news articles


Uefa Cup fans clash with police
May 15, 2008, 12:16 am
Filed under: Financial, Micro, Website, fails, forecast, jobs, post, profit | Tags: , , , , ,

A number of Rangers supporters in Manchester for the Uefa Cup final have clashed with riot police after a big screen in the city centre broke down.

Officers came under attack after the screen in Piccadilly Gardens failed.

Around 30 people were arrested in the city, including six held after a Russian fan was stabbed outside the City of Manchester stadium.

An estimated 100,000 fans descended on the city to see the match, which Zenit St Petersburg eventually won 2-0.

The injured Russian fan was taken to hospital after being attacked outside the stadium before the game.

He was stabbed in the back but his injuries were reported as non-life threatening.

Greater Manchester Police (GMP) said six men, all believed to be Rangers fans, had been arrested in connection with the incident.

The vast majority of supporters have behaved impeccably (more…)



Coremetrics Optimizes Digital Marketing

Coremetrics is releasing Spring 2008, a technology suite designed to allow online businesses to optimize their digital marketing initiatives.

Announced May 5, the solution includes the Coremetrics Explore data analysis tool and Enterprise Dashboard user interface and KPI (key performance indicator) tracker, as well as enhancements to the existing Intelligent Offer, Search and Connect tools.

“Coremetrics Explore offers ad-hoc, customizable, aggregated multi-site reporting with a flexible modular user interface,” said Brian Tomz, senior director of product strategy for Coremetrics.

Tomz said Explore allows users to design their own interfaces and run their own individualized reports.

“You can get the type of information on clients the way you want it, when you want it,” he said. “Attribute analytics allows granular data collection. Clients are moving to a faceted-search capability; how does a customer search for a product—by manufacturer, by color? It gives you a better chance at providing the proper search menu and ordering capability to maximize sales.” (more…)



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May 1, 2008, 10:54 pm
Filed under: Micro, jobs | Tags: , , ,

Photo SAN FRANCISCO (Reuters) – Sun Microsystems Inc (JAVA.O: Quote, Profile, Research) said on Thursday it would cut 1,500 to 2,500 jobs in the face of U.S. economic weakness and delays in orders from some customers.

Sun will take a charge of $130 million to $220 million in its fiscal fourth quarter to account for the cuts, executives said on a conference call following a disappointing quarterly earnings report.

(Reporting by Philipp Gollner, writing by Peter Henderson; Editing by Braden Reddall, Richard Chang)



Sun Capital Says Count Shows Gain of 3 Furniture Brands Seats
May 1, 2008, 10:48 pm
Filed under: Brands, Capital, Furniture | Tags: , , , , , , , ,

Private-equity firm Sun Capital LLC said all three of its nominees to Furniture Brands International Inc.’s board were elected “by a substantial margin,” based on an estimate by its proxy solicitor.

“The election of Sun Capital’s nominees is a victory for all Furniture Brands shareholders,” Jason Bernzweig, vice president for Sun Capital, said in a prepared statement.

Certification of the final results by the independent inspectors of the elections is expected to be completed by May 20, Furniture Brands has said. A spokesman for the St. Louis-based retailer wouldn’t officially comment on the vote but did acknowledge the company sees the same preliminary vote tally as Sun Capital.

Sun Capital is Furniture Brands’ second-largest investor with a 9.5% stake. After making an offer in February to buy the company and calling for more aggressive turnaround efforts, Sun Capital launched a proxy contest to nominate three directors to the eight-member board. (more…)



GM takes another stake in a biofuel company
May 1, 2008, 10:45 pm
Filed under: company, stake, takes | Tags: , , , , ,

WASHINGTON, May 1 (Reuters) – General Motors Corp (GM.N: Quote, Profile, Research) is taking another stake in a company focused on developing ethanol from sources other than corn, the automaker said on Thursday.

Mascoma Corp is testing its process for converting biological wastes — plant matter, grasses, wood chips and other non-grain sources — to fuel. It expects to start producing ethanol later this year at a demonstration plant in New York state.

There is growing concern among international aid groups and others that diverting a sizable percentage of America’s corn harvest for ethanol production has helped to drive up crop and food prices.

In January, GM announced it was taking a stake in Coskata Inc of Warrenville, Illinois, a biofuels company looking at sources of energy including garbage, old tires and plant waste. (more…)



Stocks rise and Dow crosses 13,000 as dollar advances
May 1, 2008, 10:42 pm
Filed under: And, advances, dollar | Tags: , , , , , ,

NEW YORK (AP) — Wall Street shot higher Thursday as investors, while anticipating another dismal jobs report Friday, viewed the rising dollar and falling oil prices as promising signs for the economy. The Dow Jones industrial average soared nearly 190 points to close above 13,000 for the first time since Jan. 3.

The dollar jumped on better-than-expected economic data and the Federal Reserve’s apparent resolve to monitor inflation. The Commerce Department said consumer spending rose 0.4 percent in March, more than predicted, and the Institute for Supply Management said U.S. manufacturing contracted in April by a bit less than anticipated.

The readings were not all positive — consumer spending ticked higher mainly due to rising energy and food prices. The ISM’s report also indicated that companies are hurting from climbing costs.

But the dollar, which has recently strengthened after a protracted decline, rallied anyway, pushing the euro down more than 1 percent to $1.5461 in late trading. Trading was thin, with major currency markets in London and elsewhere closed for the May Day holiday, but the dollar’s advance helped crude oil fall briefly near $110 a barrel and then settle at $112.52. That alleviated some of the inflation-related anxieties in the market, given that crude recently traded at a record near $120 a barrel. (more…)



profit falls 37%
May 1, 2008, 10:40 pm
Filed under: Financial, forecast, operating, profit | Tags: , , , , ,

NEW YORK (AP) — MetLife Inc. said Thursday its profit shrank 37% in the first quarter as turbulent markets and the plummeting dollar pummeled the insurer’s investment portfolio.

New York-based MetLife earned $615 million, or 84 cents per share, compared with profit of $983 million, or $1.28, in the first quarter of last year.

During a rough quarter for stock and bond markets, the New York-based insurer’s investment portfolio lost $560 million. Bad credit, the plunge of the dollar and a drop in interest rates hurt the insurer’s investments.

Operating income jumped 3% to $1.11 billion, or $1.52. Like most insurers, MetLife emphasizes operating income because it excludes certain costs – including investment losses – insurers do not consider reflective of trends in their business.

Analysts polled by Thomson Financial forecast operating profit of $1.48. (more…)



Small cars post gains, trucks fall as gas prices rise
May 1, 2008, 10:37 pm
Filed under: Small, post, prices, trucks | Tags: , , , , , , ,

DETROIT – Small cars were the big winners in April, as high gas prices accelerated U.S. consumers’ rush away from trucks and sport utility vehicles and makers of fuel-efficient models scored gains despite the weak economy.

General Motors (nyse: GM – news – people ), Ford and Chrysler all saw double-digit U.S. sales declines compared to last April. But Nissan (nasdaq: NSANY – news – people )’s sales were up 7 percent on the strength of its car sales, while Toyota (nyse: TM – news – people )’s sales edged up 3 percent. Honda (nyse: HMC – news – people )’s sales figures were delayed because of a technical problem, but the automaker said April sales were likely to be up at least 6 percent.

Pickup sales have been falling for months because of the slowdown in housing construction, and the trend away from SUVs began several years ago as Baby Boomers aged and roomy but more fuel-efficient crossover vehicles gave consumers more choice. But automakers and industry watchers said gas prices are speeding the trend. (more…)



Bolivia’s Morales deepens control of economy
May 1, 2008, 10:34 pm
Filed under: Morales, deepens, economy | Tags: , , , ,

By Carlos Quiroga

LA PAZ (Reuters) – Bolivia’s President Evo Morales deepened state control of the economy on Thursday, the second anniversary of his energy nationalization and days before an opposition-led autonomy vote that challenges his leftist reforms.

Morales announced the government takeover of Italian-owned Entel, the country’s biggest telephone company, and of four energy companies.

Police occupied Entel’s headquarters in an echo of the May 1, 2006 energy nationalization when Morales sent security forces to Bolivia’s oil fields.

The new announcements came as residents of the populous and wealthy farming region of Santa Cruz prepare to vote on Sunday in an autonomy referendum that is expected to pass and that is seen as a repudiation of Morales’ initiatives. (more…)



Denver fails pollution report card
May 1, 2008, 10:32 pm
Filed under: card, fails | Tags: , , , ,

Denver’s grade for short-term, particle pollution dropped from a “D” to an “F,” but the city’s ozone pollution improved from a “C” to a “B,” according to a report released Thursday by the American Lung Association.

The results are from the association’s annual “State of the Air” report, which ranks cities and counties throughout the United States on air pollution levels.

“Denver-area residents are not yet breathing air that’s clean enough to be safe,” said Natalia Swalnick, air quality/Clean Cities manager for the American Lung Association of Colorado.

Swalnick called particle pollution “the most dangerous of the widespread outdoor air pollutants.” Particle polution is typically composed of ash, soot, diesel exhaust, chemicals, metals and aerosols. (more…)