FORD SELLING FORMULA ONE RACING TEAM TO RED BULL
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Red Bull acquires Ford Motor Co's unprofitable Jaguar Formula One team to expand in car racing business; finanical terms undisclosed (S)
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15th of November 2004 News
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TYSON FOODS SAYS EARNINGS DECLINED 55% IN QUARTER
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Tyson Foods, world's biggest meat processor, says profit decreased 55 percent in fourth quarter ended Oct on rising costs, on losses on commodity futures and expenses related to plant closings; net income fell to $66 million from $147 million; revenue rose 8.8 percent from year earlier (S)
GENERAL ELECTRIC WILL BUY SAFETY UNIT FROM SPX
Date: 16 November 2004
By Bloomberg News
Bloomberg News
General Electric Co acquires Edwards Systems Technology business of SPX Corp for $1.4 billion in cash to add fire detection and building safety systems to its security unit (S)
NEWS SUMMARY
Date: 15 November 2004
INTERNATIONAL A3-12 Falluja Rebels Routed As Mosul Revolt Intensifies American forces overran the last center of rebel resistance in Falluja after a weeklong invasion that smashed what they called the principal base for the Iraqi insurgency. But the assault's overwhelming firepower left large swathes of the city in smoking ruins. A1 Battles erupted between insurgents and American and Iraqi forces in Mosul, and American armored vehicles encircled a town near the Syrian border where the revolt had spread, prompting residents to flee. The fighting marked the fourth day of an uprising that has decimated the police forces and opened up a northern front as the Americans fought in Falluja, 250 miles south. A12 A hospital in Germany has again become the first destination for most troops wounded in Iraq. It has expanded its intensive care unit, brought in extra nurses and doubled up doctors on shifts. Most new patients were wounded in the Falluja operation. A11 Violence at Arafat Memorial A group of Palestinians unleashed bursts of gunfire as Mahmoud Abbas, the most likely successor to Yasir Arafat, arrived at a mourning service for Mr. Arafat in Gaza City. Mr. Abbas was not hurt. The Palestinian leadership announced that elections would be held on Jan. 9. A1 New Nuclear Pledge From Iran The governments of France, Germany and Britain are studying a letter delivered by Iran in which it pledged to suspend uranium enrichment activities temporarily in exchange for economic and political incentives. It was unclear whether Iran had agreed to all the conditions set out or had inserted new conditions that could not be accepted. A6 Rumsfeld Views Panama Canal Defense Secretary Donald H. Rumsfeld inspected the Panama Canal and praised efforts by the government there to guard it from terrorist attack. A9 NATIONAL A15-19 Democrats' Slide in South Erodes Political Center Only 4 of the 22 senators from the 11 states of the old Confederacy will be Democrats in the new Congress, the fewest since Reconstruction. Analysts say their decline could intensify the divisions on Capitol Hill. A1 Republicans expanded their majorities in the House and Senate for the term beginning in January, but the post-election session will be the domain of the current Congress, with its much smaller divide in the Senate. A18 Cubans Seek Asylum in the U.S. Forty-four Cuban dancers, singers and musicians, in Las Vegas to stage a revue, plan to seek political asylum in the United States, members of the troupe said. It would apparently be the largest mass defection of Cuban performers ever. A15 New Lincoln Museum in Illinois Springfield, Ill., is honoring Abraham Lincoln nearly a century and a half after his death with what promises to be a spectacular and perhaps controversial museum. A15 University Presidents' Pay The earnings of many top university presidents are spiraling toward $1 million a year and rising far more quickly than faculty salaries. A17 Frist Puts Onus on Specter Senator Bill Frist, the Republican majority leader, said that Senator Arlen Specter must convince his fellow Republicans that he deserves to be chairman of the Senate Judiciary Committee. A18 SCIENCE/HEALTH F.D.A. to Combat Counterfeits The Food and Drug Administration and several major drug makers are expected to announce an agreement to put tiny radio antennas on the labels of millions of medicine bottles to combat counterfeiting and fraud. A1 NEW YORK/REGION B1-8 New York Republicans Do Some Soul-Searching Republican members of Congress from New York have taken the unusual step of publicly criticizing the Republican party and questioning Governor Pataki's leadership, igniting a fight over the direction the party should take. B1 Muslim Film Finally Opens The American premiere of the animated feature ''Muhammad: The Last Prophet,'' marked the end of the film's five-year journey to commercial theaters in the United States. B1 Codey Sworn In in New Jersey Richard J. Codey, the president of the New Jersey State Senate, was sworn in as acting governor of New Jersey at a private ceremony at his home. B8 Neediest Cases B4 SPORTSMONDAY D1-9 ARTS E1-12 P.S. 122 Names Director Vallejo Gantner, a 30-year-old Australian director with a sizable international résumé, has been chosen as the next artistic director of Performance Space 122, a bastion of avant-garde theater and dance in the East Village. E3 Venice Theater Reopens Venice's legendary Teatro La Fenice reopened with a new production of ''La Traviata'' after having been destroyed by fire on the night of Jan. 29, 1996. E3 OBITUARIES B9 Dr. Arthur H. Robinson A geographer who improved on the venerable Mercator projection for drawing the round Earth on a flat map, he was 89. B9 BUSINESS DAY C1-12 Dow Jones in Web News Deal Dow Jones is set to announce today that it will pay about $486 million for the parent company of CBS MarketWatch, a business news site, giving it a broader online reach and a source of advertising revenue. C1 Net Analysts on the Rise As the stock prices of companies like Google and eBay have soared this year, the influence of two big-name equity analysts on Wall Street has followed suit. C1 Google Investors Await Fate Google insiders will be permitted to sell as many as 39 million shares tomorrow. C1 Perrigo Is Set to Buy Agis Perrigo plans to announce that it will buy Agis Industries for $818 million in cash and stock. C2 Warner Brothers Bets Big Warner Brothers, which spent hundreds of millions of dollars to open five films during the holiday season, has had a disappointing start in its sprint to the end of the year. C1 Business Digest C1 EDITORIAL A20-21 Editorials: The larger battle in Iraq; end run toward a U.N. cloning ban; Adam Cohen on the Democrats and linguistics. Columns: William Safire and Bob Herbert. Autos D10 Bridge E10 Crossword E4 Metro Diary B2 TV Listings E11 Weather A14
NEWS SUMMARY
Date: 16 November 2004
INTERNATIONAL A3-13 U.S. Troops Confront Guerrilla Assaults in Falluja A rebel counteroffensive roiled central and northern Iraq, with guerrillas storming police stations and setting oil wells ablaze, as American troops tried to flush the remaining insurgents from the debris-strewn cityscape of Falluja. A1 An Army investigation has recommended that two dozen members of an Army Reserve unit in Iraq be punished for disobeying orders last month to deliver fuel to another base, a Pentagon official and relatives of the soldiers said. A13 A television pool report by NBC news said an American marine had shot and killed an unarmed and wounded Iraqi prisoner in a mosque in Falluja. The Iraqi was one of five wounded prisoners left in the mosque after marines had fought their way in. A12 Iran to Freeze Nuclear Program France, Britain and Germany announced that they had reached a formal agreement with Iran committing the country to freeze a critical part of its nuclear program. A3 Palestinians Meet With Rivals The new chairman of the Palestine Liberation Organization, Mahmoud Abbas, met with militant leaders as he began trying to solve the intricate political puzzle that Yasir Arafat left at his death. A10 Sanctions Against Ivory Coast The Security Council voted unanimously to impose an immediate arms embargo on Ivory Coast and to extend sanctions to include forbidding travel and freezing assets of selected individuals in a month if a cease-fire agreement is not fully restored by then. A10 Colombia Plans New Penalties A panel of legislators plans to present President Alvaro Uribe's government with a bill that would provide harsh penalties for any right-wing paramilitary fighters found guilty of atrocities, according to people who have worked on the proposed legislation. A11 NATIONAL A16-24 Powell Will Resign; Rice Said to Be Successor Secretary of State Colin L. Powell announced his resignation, and administration officials said his successor would be Condoleezza Rice, President Bush's national security adviser. Three other members of Bush's Cabinet announced their resignations: Ann M. Veneman, the secretary of agriculture; Rod Paige, the education secretary; and Spencer Abraham, the energy secretary. A1 Mr. Powell experienced triumph in 2002 with the unanimous approval of a resolution by the United Nations Security Council demanding that Iraq comply with weapons inspections or face the prospect of war. Soon, however, public anger over the war and the failure to find the weapons took their toll. A24 Former Soldiers Resist Call-Ups The Army is encountering resistance from thousands of former soldiers it is ordering back to military work -- some of whom say they have not trained, held a gun, worn a uniform or even gone for a jog in years -- complicating its efforts to fill gaps among the regular troops. A1 Two C.I.A. Officials Resign The head of the Central Intelligence Agency's clandestine service and his deputy resigned their posts, effective immediately, becoming the most significant casualties of an effort by Porter J. Goss to overhaul the agency's spying operations. A16 Texas Sentence Overturned The Supreme Court overturned a Texas death sentence while delivering its latest rebuke to the way the death penalty is being handled by judges in the state, which has executed far more people than any other in the modern era. A18 SCIENCE/HEALTH RU-486 Warning Toughened Federal drug regulators have strengthened the warning label on the abortion pill, RU-486. A24 NEW YORK/REGION B1-8 Schumer Rules Out 2006 Gubernatorial Race Senator Charles E. Schumer ruled out running for governor of New York in 2006, saying that he will instead help lead the Democratic Party's efforts to retake the Senate. That leaves the field open to Eliot Spitzer, the popular Democratic state attorney general who has been gearing up to challenge Governor Pataki should he decide to run for another term. A1 McGreevey Leaves Quietly Gov. James E. McGreevey of New Jersey submitted his letter of resignation but spent his last day in office at the governor's mansion in Princeton while business at the State House continued without him. At midnight, Senate President Richard J. Codey was to become acting governor for the 14 months left in Mr. McGreevey's term. B1 Pataki Vetoes Reform Plan Governor Pataki vetoed a bill that would have overhauled New York State's notoriously dysfunctional budget process, complaining that the bill, which many lawmakers described as their chief achievement this year, would make a flawed process even worse. B1 Neediest Cases B5 SCIENCE TIMES F1-10 Health & Fitness F5 FASHION B9 ARTS E1-10 SPORTSTUESDAY D1-7 New York Submits Olympic Bid New York and four European capitals submitted their final bids to host the 2012 Summer Olympics by yesterday's deadline, the International Olympic Committee announced. D1 BUSINESS DAY C1-17 Pension Deficit Doubles The federal agency that insures pension plans, the Pension Benefit Guaranty Corporation, said that its deficit, already at the highest in its history, had doubled in its last fiscal year, to $23.3 billion. C1 Fortunoff to Sell Business Fortunoff is expected to announce that it will sell its business to Trimaran Capital Partners, a private equity firm, in a deal that values the chain at $280 million. C12 Boeing Officer Pleads Guilty The former chief financial officer of Boeing pleaded guilty to a felony conflict-of-interest charge, acknowledging that he secretly offered a job to an Air Force official while she was overseeing billions of dollars in contracts. C2 Business Digest C1 World Business W1 OBITUARIES A25 EDITORIAL A26-27 Editorials: The cabinet shuffle: good soldier Powell, and some small shoes to fill; pollution in Buyat Bay. Column: David Brooks. Crossword E4 TV Listings E9 Public Lives B4 Weather D8
E.D.S. Loss Widens for Third Quarter
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Electronic Data Systems Corp reâports net loss of $153 million for third quarter compared with restated loss of $16 million year earlier; sales dropped to $4.95 billion from $4.99 billion (S)
World Business Briefing | Europe: France: Builder To Sell Water Unit
Date: 16 November 2004
By Bloomberg News
Bloomberg News
French builder Bouygues plans to sell water unit, Saur, to buyout firm, PAI Partners, for 1.04 billion euros ($1.35 billion) (S)
Oracle Insists Bid for PeopleSoft Is Final as Deadline Approaches
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Oracle Corp chief financial officer Harry You says $24 a share remains company's 'best and final' offer for PeopleSoft Inc; $8.8 billion hostile takeover bid, like four previous ones, has been rejected by PeopleSoft, whose fate now lies with its shareholders (M)
World Business Briefing | Asia: Hong Kong: Bank Executive Named
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Standard Chartered promotes Peter Sullivan to succeed Peter Wong as chief executive of Hong Kong operations (S)
Technology Briefing | Deals: Scansoft To Buy 3 Companies For $63 Million
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Technology Briefing: Scansoft To Buy 3 Compani
FASB to Delay Rule on Debt Held for Sale
Date: 15 November 2004
By Bloomberg News
Bloomberg News
Financial Accounting Standards Board will probably delay until 2005 new rule approved in March that would require banks, insurance companies and other institutions to recognize unrealized losses in net income statements for 'available for sale' bonds; under new rules, opposed by major finance companies, losses from bond portfolios would cut earnings unless managers prove they have ability and intent to hold bonds until their value was recovered (M)
Technology Briefing | Telecommunications: Global Crossing's 3rd-Quarter Loss Widens
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Global Crossing Ltd's third quarter loss widened to $102 million from $80 million year earlier; revenue fell 11 percent, to $617 million; graph (S)
Technology Briefing | Telecommunications: Verizon Wireless To End a Monthly Fee
Date: 16 November 2004
By Bloomberg News
Bloomberg News
Technology Briefing: Verizon Wireless To End A Monthly F