Paul's Feed
Aug 31, 2011

President Obama offers disaster aid to New Jersey

LITTLE FALLS, New Jersey (Reuters) – New Jersey residents struggled with flooded homes, blocked roads and power outages on Wednesday as rivers and creeks overflowed in the aftermath of Hurricane Irene.

President Barack Obama signed a disaster declaration for five counties of New Jersey, making residents eligible for federal assistance.

Aug 31, 2011

Christie, Napolitano to tour flooded New Jersey area

LITTLE FALLS, New Jersey (Reuters) – New Jersey residents struggled with flooded homes, blocked roads and power outages on Wednesday as rivers and creeks overflowed in the aftermath of Hurricane Irene.

Governor Chris Christie and Department of Homeland Security Secretary Janet Napolitano planned to tour Lincoln Park, one of the towns heavily damaged by Passaic River flooding.

Aug 29, 2011

New York starts clean up efforts after hurricane

NEW YORK, Aug 29 (Reuters) – New Yorkers returned to work
under blue skies on Monday but the destruction left by
Hurricane Irene made commuting a nightmare for thousands in the
city’s suburbs whose train service was suspended by flooded or
blocked rail lines.

The storm’s strong winds and heavy rains downed some 2,000
trees on Sunday, leaving branches and debris scattered across
streets and thousands of residents without power.

Aug 26, 2011

Investors sanguine as Apple’s Jobs steps aside

SAN FRANCISCO/NEW YORK (Reuters) – Apple Inc’s first day without Steve Jobs as chief executive looked awfully similar to most other days: its share price beat the broader stock market.

In announcing he could no longer fulfill his duties and would resign as chief executive, Jobs made headlines worldwide and raised questions about the future of a $350 billion company that revolutionized computing and consumer electronics.

Aug 25, 2011

Investors undaunted as Apple’s Jobs steps aside

SAN FRANCISCO/NEW YORK (Reuters) – Apple Inc began a new era on Thursday without Steve Jobs as chief executive, a momentous shift that surprised investors, but barely dented confidence in the near-term outlook for the stock.

In announcing that he could no longer fulfill his duties, Jobs stepped away from his role as CEO and cleared the way for Tim Cook to take over leadership of one of the world’s best known and valuable companies.

Aug 2, 2011

New distribution deals help CBS results

NEW YORK (Reuters) – CBS Corp said its quarterly profit and revenue rose sharply, reaping the benefits of new distribution deals and higher spending by advertisers on national television campaigns.

CBS, whose namesake broadcast network is home to hit shows such as “The Big Bang Theory” and “NCIS,” said its second-quarter profit rose to $395 million, or 58 cents a share. A year ago, it reported profit of $150 million, or 22 cents a share.

Jul 25, 2011

Netflix shares down after outlook disappoints

LOS ANGELES/NEW YORK (Reuters) – Netflix Inc’s quarterly revenue fell short of expectations and it warned that its red-hot subscriber growth would cool down in the third quarter, sending shares of the top video rental company down about 9 percent.

Second-quarter earnings surpassed expectations in rising to $68 million, or $1.26 a share, from $44 million, or 80 cents a share, in the period a year ago.

Jul 19, 2011

Murdoch turns to PR elite for crisis control

NEW YORK, July 19 (Reuters) – As Rupert Murdoch sat through
the first hour of questioning by British lawmakers probing News
Corp’s phone-hacking scandal, it looked like days of work by
his team of crisis management advisers would go up in smoke.

They crafted an opening statement for the media mogul that
included a killer sound bite — “This is the most humble day of
my life” — only to have the parliamentary committee deny him
the chance to deliver it.

Jul 16, 2011

Murdoch lieutenant Hinton quits Dow Jones

NEW YORK (Reuters) – Les Hinton, the top executive of Rupert Murdoch’s Dow Jones & Co, resigned on Friday after becoming a target of criticism for the phone-hacking scandal that occurred when he oversaw News Corp’s British newspapers.

Hinton stepped down as the British phone hacking scandal surrounding News Corp began to spread to the United States. He is the highest ranking executive yet to resign over a crisis that closed down the News of the World tabloid and scotched News Corp’s $12 billion attempt to buy out BSkyB.

Jul 15, 2011

Murdoch lieutenant Les Hinton quits over scandal

NEW YORK (Reuters) – Les Hinton, the top executive of Rupert Murdoch’s Dow Jones & Co, resigned on Friday after becoming a target of criticism for the phone-hacking scandal that occurred when he oversaw News Corp’s British newspapers.

“I have watched with sorrow from New York as the News of the World story has unfolded,” Hinton, who also served as publisher of the Wall Street Journal, wrote in his resignation letter.