International Business News - APFN http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Three decades after pumping its last drop, the first oil well in Nigeria is marked by a decrepit signboard bearing what would seem an uncontroversial statement: http://www.ibtimes.com/articles/20080706/nigerias-first-oil-well-is-still-source-of-woe.htm Sun, 06 Jul 2008 00:01:45 EDT Credit ratings agency Standard & Poor's said Thursday it placed XL Capital Ltd. on a negative credit watch because of uncertainty surrounding reinsurance and agreements with bond insurer Security Capital Assurance Ltd. http://www.ibtimes.com/articles/20080704/s-p-places-xl-capital-on-watch-for-downgrade.htm Fri, 04 Jul 2008 17:49:08 EDT VeriSign Inc. said Thursday that its board elected the company's founder and first chief executive, Jim Bidzos, as chief executive and president and named him executive chairman, all on an interim basis. http://www.ibtimes.com/articles/20080703/verisign-names-founder-interim-ceo-president.htm Thu, 03 Jul 2008 15:35:44 EDT In a July 2 story about the effect of state spending on companies in the construction and engineering sector, The Associated Press inaccurately reported comments by KeyBanc Capital Markets analyst Tahira Azfal. http://www.ibtimes.com/articles/20080703/correction-construction-and-engineering-wrap.htm Thu, 03 Jul 2008 15:01:11 EDT Shares of Abbott Laboratories rose Thursday after regulators approved its drug-coated Xience V stent for sale. The Food and Drug Administration approved the stent late Wednesday, and Abbott expects it to take between 25 percent and 30 percent of the U.S. drug-coated stent market over the next 12 months. Analysts generally agreed with that estimate, and Goldman Sachs analyst Lawrence Keusch said Xience V will become the most-used stent in 2009. http://www.ibtimes.com/articles/20080703/abbott-rises-after-fda-approves-xience-v-stent.htm Thu, 03 Jul 2008 10:37:31 EDT A rabbi has pleaded guilty to participating in a decade-long tax fraud and money laundering scheme that prosecutors claim involved the leader of an Orthodox Jewish group. http://www.ibtimes.com/articles/20080702/new-york-rabbi-pleads-guilty-in-tax-fraud-case.htm Wed, 02 Jul 2008 12:26:00 EDT In a July 1 story about a JP Morgan analyst note on homebuilders, The Associated Press erroneously reported two of analyst Michael Rehaut's statements. http://www.ibtimes.com/articles/20080702/correction-jp-morgan-homebuilders-story.htm Wed, 02 Jul 2008 09:09:04 EDT Health insurer UnitedHealth Group Inc. lowered its 2008 profit outlook on Wednesday, citing reduced commercial business and higher-than-expected Medicare-related costs. http://www.ibtimes.com/articles/20080702/unitedhealth-cuts-2008-outlook-as-premiums-slip.htm Wed, 02 Jul 2008 06:43:34 EDT Shares of Yahoo Inc. fell on Tuesday to their lowest level since late January, right before Microsoft Corp. attempted to buy the struggling Internet icon in an unsolicited offer that was later rejected. http://www.ibtimes.com/articles/20080701/yahoo-shares-fall-to-lowest-level-since-january.htm Tue, 01 Jul 2008 16:34:26 EDT A measure of the U.S. manufacturing sector is expected to show contraction for the fifth straight month Tuesday as businesses struggle with inflation and nervous consumers curb spending. http://www.ibtimes.com/articles/20080701/ahead-of-the-bell-manufacturing-index.htm Tue, 01 Jul 2008 06:17:44 EDT A study by Allstate Insurance Co. ranking the nation's safest cities based on internal crash data over a two-year period. http://www.ibtimes.com/articles/20080701/study-sioux-falls-s-d-safest-us-driving-city.htm Tue, 01 Jul 2008 00:02:33 EDT An insurance study has once again found that Sioux Falls has the safest drivers in the nation, marking the third straight year that South Dakota's largest city has topped the list. http://www.ibtimes.com/articles/20080701/study-sioux-falls-s-d-safest-us-driving-city.htm Tue, 01 Jul 2008 00:02:02 EDT Sprint Nextel Corp., the nation's third-largest wireless carrier, has been struggling to turn its business around--but in the second quarter its shares gained the most out of any other telecommunications service provider in the S&P 500. http://www.ibtimes.com/articles/20080630/sprint-is-top-telecom-gainer-in-2q.htm Mon, 30 Jun 2008 12:44:33 EDT Six companies in the financial-services sector are being added to the Russell 1000 in this year's reconstitution of the large stock index, while 12 in the sector are being removed. http://www.ibtimes.com/articles/20080630/russell-1000-adds-6-financial-services-stocks.htm Mon, 30 Jun 2008 09:13:20 EDT Cell phones are becoming more useful devices for listening to music. Verizon Wireless is introducing Rhapsody's subscription music service Monday, allowing its customers to download as much music as they want to their phones for $15 per month. http://www.ibtimes.com/data/articleimgs/82570-verizon.jpg http://www.ibtimes.com/articles/20080630/verizon-wireless-gets-rhapsody-music-subscriptions.htm http://www.ibtimes.com/articles/20080630/verizon-wireless-gets-rhapsody-music-subscriptions.htm Mon, 30 Jun 2008 00:01:34 EDT In a June 26 story on drug maker Amgen, The Associated Press reported that a doctor who ran trials on the Amgen drug denosumab believes an issue with infections could keep the drug from being approved by regulators. http://www.ibtimes.com/articles/20080627/clarification-amgen-denosumab-story.htm Fri, 27 Jun 2008 17:06:05 EDT Palm Inc.'s shares fell Friday after the Treo and Centro smart phone maker reported fiscal fourth-quarter results that missed Wall Street expectations and indicated losses will continue in the current quarter. http://www.ibtimes.com/articles/20080627/palm-shares-fall-after-fiscal-4q-report.htm Fri, 27 Jun 2008 14:27:14 EDT An Oppenheimer analyst downgraded shares of American Eagle Outfitters Inc. late Thursday, citing the departure of its president and merchandising chief, a potential fashion misstep and overall economic weakness. http://www.ibtimes.com/articles/20080627/ahead-of-the-bell-american-eagle-downgraded.htm Fri, 27 Jun 2008 08:35:28 EDT A director of Popular Inc., the parent of Banco Popular, bought 12,300 shares of stock, according to a Securities and Exchange Commission filing Wednesday. http://www.ibtimes.com/articles/20080626/popular-inc-director-buys-shares.htm Thu, 26 Jun 2008 16:22:03 EDT In a story June 25, The Associated Press reported that Kanawha County Circuit Judge Duke Bloom gave the state Supreme Court 10 days to release e-mails between Chief Justice Elliott "Spike" Maynard and representatives of Massey Energy Inc. or its Chief Executive Don Blankenship. The story should have specified that Bloom ordered the e-mails released to him for review. The documents aren't for public distribution. http://www.ibtimes.com/articles/20080626/clarification-foia-complaint.htm Thu, 26 Jun 2008 12:50:52 EDT