Firm overseeing Harvard endowment _ battered by recession _ names 2 senior managersCAMBRIDGE, Mass. — Two senior investment managers have been hired by the company overseeing Harvard University’s endowment, which has absorbed a steep drop in value during the recession. Procter & Gamble’s 4Q profit down 18 percent , as consumers cut buying in recessionCINCINNATI — The Procter & Gamble Co.’s fourth-quarter profit fell 18 percent, and the consumer products maker said Wednesday it expects more declines as households around the globe keep tight reins on spending in the recession. Varian Semiconductor Equipment Associates says it recorded $14.3M fiscal third-quarter lossGLOUCESTER, Mass. — Varian Semiconductor Equipment Associates Inc., which makes equipment used to manufacture semiconductors, on Thursday said it suffered a fiscal third-quarter loss of $14.3 million, as sales plunged amid challenging economic conditions. 15 killed in Afghanistan in separate incidentsKABUL - Fifteen people, among them a presidential campaign worker, were killed in three separate incidents in Afghanistan, officials said Tuesday. Reliance gas price was not fixed at dinner table: Anil AmbaniMUMBAI - Reliance Natural Resources chairman Anil Ambani Tuesday accused the petroleum ministry of being biased in the legal dispute with brother Mukesh Ambani-led Reliance Industries over the price of natural gas from the Krishna-Godavari basin. EADS says net profit rose 76 percent in 2Q to euro208M, below analyst expectationsPARIS — Airbus parent company EADS NV said Tuesday that second-quarter net profit rose 76 percent as the European planemaker delivered more aircraft and charges for its delayed A400M military transport eased. Appeals court upholds federal judge’s decision to block FedEx class action lawsuitATLANTA — A federal appeals court ruled Monday that a group of FedEx Corp. employees who claim the company failed to pay them for all hours worked cannot form a class action group. Hyundai India to shift i20 export production to EuropeCHENNAI - The country’s second largest car maker Hyundai Motor India will shift the production of its i20 model for exports from here to Europe some time next year, a top official said Saturday. Dutch telecom KPN says Q2 profit rises 4.8 percent, sees weak demand from corporate customersAMSTERDAM — Royal KPN NV, the largest Dutch telecommunications company, said Thursday its net profit rose 4.8 percent in the second quarter due to growth at its German mobile telephone business and better margins in the Netherlands. Starwood Hotels & Resorts readies to release 2nd quarter resultsCHICAGO — Starwood Hotels & Resorts Inc. reports its second-quarter earnings on Thursday. The following is a summary of key developments and analyst opinion related to the period. US files new charges in drug war, offers $50M in rewards for capture of Mexican cartel leadersNEW YORK — The Department of State offered up to $50 million Monday for information leading to the arrests of 10 top Mexican drug suspects accused of key roles in a violent organization estimated to have sold more than $1 billion worth of drugs in the United States. Kirin may join forces with Suntory to create major global drink companyTOKYO — Japanese beermaker Kirin Holdings Co. confirmed Tuesday it may merge with smaller rival Suntory Holdings Ltd. to create one of the world’s largest food and drinks companies. H&R Block’s Smyth receives $5.3 million in fiscal 2009 compensation as he takes over as CEOKANSAS CITY, Mo. — H&R Block Inc. CEO Russell Smyth received compensation valued at $5.3 million in fiscal 2009, the year he took over leadership of the nation’s largest tax preparer. British Airways calls in mediator to help break deadlock on union talks over job cutsLONDON — British Airways PLC called in a government-backed mediator on Wednesday to help hammer out a deal with unions over thousands of job cuts and pay freeze as the airline seeks to avoid a damaging strike. H&M 2Q profit rises 6.4 percent, helped by new store openings and weaker Swedish kronaSTOCKHOLM, Sweden — Swedish fashion chain Hennes & Mauritz on Thursday said net profit in its latest fiscal quarter rose 6.4 percent, helped by new store openings and a weaker Swedish krona. Singaporean light howitzers enter India despite banNEW DELHI - India recently received a consignment of 155 mm light howitzers from Singapore Technologies (ST) Kinetics despite a temporary ban on procurements from the company and six others on corruption charges, a leading defence journal says. Stocks end mixed as traders await word from the Fed; Existing home sales fail to exciteNEW YORK — Investors are holding off making big moves while they wait for the Federal Reserve. Station Casinos gets fourth extension on debt plan, new deadline July 17 to OK restructuringLAS VEGAS — Station Casinos Inc. says it is continuing to negotiate a restructuring plan with bondholders and has extended its deadline to next month. GM’s Saab says talks ‘on track’ to find new owner; reports say Swedish Koenigsegg plans to buySTOCKHOLM — General Motors Corp.’s Saab unit said a deal to find a new owner was “just around the corner” but added that nothing has been finalized and didn’t name any potential buyers. Eight killed in Himachal factory fire, probe ordered (Third Lead)NALAGARH - At least eight people were killed when a fire broke out in a factory in this town Wednesday, police said. The Himachal Pradesh government ordered an inquiry into the incident. Questions about GM’s future hang over American car-shoppers, dealershipsHAMILTON, Ohio — In vehicle showrooms across the country, questions about the future of auto giant General Motors Corp. add to the usual haggling and give-and-take. Chrysler CEO sees sale to Italy’s Fiat closing Friday, but dissenters could force postponementNEW YORK — It could be decision day Friday for a judge trying to determine whether it’s in the best interests of Chrysler and its stakeholders to sell most of the company to Italy’s Fiat Group SpA. Mahindra launches CNG pick-up truckNEW DELHI - Auto major Mahindra and Mahindra (M&M) Tuesday launched a CNG variant of its existing pick-up truck Maxx Maxi. Bed Bath & Beyond CEO Temares takes home $8.5 million in 2008, up 32 pct from 2007CHICAGO — Bed Bath & Beyond Inc. CEO Steven Temares received compensation the company valued at $8.5 million during the past fiscal year, an increase of 32 percent as the company’s sales inched up slightly but profit fell and its largest competitor liquidated, according to a regulatory filing. Your feet complaining? Could be your electronic insoles reportingNEW YORK — A startup in Arizona is working on a product that can tell you what it’s like to walk a mile in someone else’s shoes — because the insoles record every touch of pressure. Lawmaker questions AIG’s plan to sell off assets in weak market as CEO cites riskWASHINGTON — The government-installed head of AIG told Congress Wednesday the insurance giant is selling many of its foreign assets to repay U.S. taxpayers, but lawmakers questioned whether the plan makes sense and demanded details. KFC offers rain checks on free meal coupon Oprah promoted after customers flood storesLOUISVILLE, Ky. — Memo to KFC: never underestimate the power of Oprah Winfrey. Review: Garanca and Brownlee shine as Rossini’s ‘Cinderella’ and her prince at Met operaNEW YORK — As light and elegant as the wedding cake that fills the stage for the final scene, Rossini’s “La Cenerentola” (”Cinderella”) is helping to usher out the Metropolitan Opera season — providing a nice contrast to the heavier diet of Wagner’s “Ring” cycle. Liberal Justice David Souter retiring from Supreme Court this year; Obama won’t commentWASHINGTON — A presidential spokesman says the White House has received no formal word from Supreme Court Justice David Souter that he plans to retire. Members of Congress say Chrysler bankruptcy, if it happens, should prevent liquidationNEW YORK — With Chrysler LLC appearing increasingly likely to seek bankruptcy protection, members of Congress are calling for an orderly process that saves the company from liquidation. |
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