Toyota president expresses regret over fatal US accident in which floor-mat problem suspectedTOKYO — Toyota’s president said it was “extremely regrettable” an American family died in a crash in which a floor mat in one of the Japanese automaker’s vehicles is suspected as the cause. Slow recovery means unemployment rate to keep rising, possibly to 10 percentWASHINGTON — The unemployment rate hasn’t topped 10 percent since June 1983, but it could return to that painful level soon — possibly as early as Friday, when the Labor Department issues its monthly jobs report. Global recession has boosted jobless lines worldwide, but data shows marked differencesPARIS — Unemployment is rising around the world as the recession leaves few corners untouched — but sharp differences remain between companies directly hit by financial or housing-market collapses and those that have deliberately protected jobs with expensive measures — including subsidizing shorter working weeks. Manhattan apartment market soar in third quarter, still below year-ago levelsNEW YORK — Blink. What housing downturn? MGM studio gets nearly 3-month reprieve on interest payments from lendersLOS ANGELES — Less than two months after hiring restructuring guru Stephen Cooper as a top executive, debt-laden Hollywood studio Metro-Goldwyn-Mayer Inc. said Thursday it received a brief respite from making interest payments on nearly $4 billion in debt. Delta, Northwest frequent flier programs merged into one; CEO says ‘It’s all SkyMiles now’Delta Air Lines Inc. has completed the integration of its frequent flier program with that of its subsidiary, Northwest Airlines, Chief Executive Richard Anderson said Thursday. Western Gas names Donald R. Sinclair president of its general partnerHOUSTON — Western Gas Partners LP said Thursday that it named Donald R. Sinclair the president of its general partner. Smith International says chief financial officer retiring; Replacement namedHOUSTON — Smith International Inc., a provider of products and services used by operators during the drilling, completion and production phases of oil and natural gas development activities, said Thursday that its chief financial officer is retiring. Coinstar CFO John Harvey to resign effective Nov. 9BELLEVUE, Wash. — Coinstar Inc. said Thursday that its chief financial officer, John Harvey, will resign effective Nov. 9. Next CEO of BofA still uncertain, but will have to repair damaged relations, balance sheetNEW YORK — The CEO who succeeds the departing Ken Lewis at Bank of America Corp. will have plenty of repair work to do, including mending relationships with regulators and investors after the animosity that followed the acquisition of Merrill Lynch & Co. this past year. Ohio editor Royhab to retire, led newspaper to Pulitzer for Vietnam War deaths investigationTOLEDO, Ohio — Ron Royhab, who helped lead The Blade to a Pulitzer Prize, will retire as the Toledo newspaper’s vice president and executive editor. Bill Clinton cheers turnout by hundreds of international investors at Haiti conferencePORT-AU-PRINCE, Haiti — Bill Clinton applauded the large turnout at an investor conference in Haiti’s capital Thursday, calling it a sign of hope for economic growth and job creation in the impoverished Caribbean nation. RBC Bank, US subsidiary of Royal Bank of Canada, says CEO Scott Custer to retireRALEIGH, N.C. — The chief executive of North Carolina-based RBC Bank is retiring. Exelon picks ex-AEP executive Stough for new transmission operationCHICAGO — Power company Exelon said Thursday that John Stough has been appointed as vice president and chief development officer for its new company that will seek to capitalize on the growing market for additional transmission lines. Smithfield Foods shares fall, CEO sells 100,000 shares for personal reasonsMILWAUKEE — Shares of Smithfield Foods Inc. fell Thursday after the nation’s largest hog producer and pork processor said its CEO sold 100,000 shares this week “to meet personal financial obligations,” according to the company. New jobless claims rise more than expected to 551,000; spending jumps in Aug. but incomes lagWASHINGTON — First-time claims for jobless benefits increased more than expected last week, a sign employers are reluctant to hire and the job market remains weak. New claims for unemployment benefits rise more than expected to 551,000, jobs remain scarceWASHINGTON — First-time claims for jobless benefits increased more than expected last week, a sign employers are reluctant to hire and the job market remains weak. After Ken Lewis’ departure, next Bank of America CEO must make Merrill deal pay offNEW YORK — Ken Lewis’ legacy as CEO of Bank of America Corp. will likely be determined by whether his successor can do what Lewis couldn’t: prove that the bank’s messy acquisition of Merrill Lynch & Co. was worth the money. Las Vegas judge binds ACORN, former employee for trial on pay for voter registration chargeLAS VEGAS — The political advocacy group ACORN and a former supervisor were ordered Wednesday to stand trial on charges that they illegally paid canvassers to register Nevada voters during last year’s presidential campaign. Biographical details on Ken Lewis, who is retiring Dec. 31 as CEO of Bank of AmericaNAME — Kenneth D. Lewis ADP CEO’s compensation declined 22 percent in fiscal 2009 to $6.2 millionSAN FRANCISCO — The CEO of Automatic Data Processing Inc. received compensation valued at $6.2 million in fiscal 2009, down 22 percent from the prior year, according to an Associated Press calculation of figures disclosed in a regulatory filing. Congress adds Postal Service fix, census funds to stopgap funding billCongress on Wednesday sent President Barack Obama a one-month stopgap spending bill to keep the government from shutting down with the start of the new fiscal year on Thursday. The legislation: Jamaica’s government pledges to pay public school teachers $90 million in back wagesKINGSTON, Jamaica — The government of Jamaica has agreed to pay public school teachers more than $90 million in back wages over the next three years. Bank of America CEO Ken Lewis to retire from troubled bank by end of the yearNEW YORK — Ken Lewis, the embattled CEO of Bank of America Corp., is leaving the company, succumbing to nearly a year of strife that followed his company’s acquisition of Merrill Lynch & Co. Ex-prosecutor case can’t recall when he learned subordinate used racial slur about WilliamsSOMERVILLE, N.J. — The former county prosecutor who tried Jayson Williams for manslaughter in 2004 asserted Wednesday that he was unsure when he learned that one of his subordinates used a racial slur to describe the former NBA star. With fight ahead, Democrats drop controversial “cap and trade” term and talk energy securityWASHINGTON — Senate Democrats tried out a new catch phrase Wednesday to sell their global warming bill: pollution reduction and investment, or PRI. Lawsuit settled over deadly blast at International Paper Co. mill in Miss. that killed workerJACKSON, Miss. — International Paper Co. has settled another federal lawsuit stemming from a 2008 explosion that killed a contract worker at a Mississippi plant and injured nearly two dozen others. Windstream to cut 350 jobs, or 5 percent of work force, in move to balance out sales declineLITTLE ROCK, Ark. — Windstream Corp. says it is cutting 350 jobs, or nearly 5 percent of its work force, in part to balance out declining revenue in its residential voice unit. Force Protection to cut 10 percent of work force, or about 120 workers, plans realignmentLADSON, S.C. — Force Protection plans to reduce its work force by 10 percent, or about 120 workers, as it copes with a decline in orders for military vehicles over the past year. Former prosecutor in Williams case contradicts boss’ testimony about subordinate’s racial slurSOMERVILLE, N.J. — The former county prosecutor who tried Jayson Williams for manslaughter in 2004 asserted Wednesday that he was unsure when he learned that one of his subordinates used a racial slur to describe the former NBA star. |
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