- Canada doing away with door-to-door mail delivery by 2018
- NSA chief defends phone spying: ‘There is no other way’
- Hawaii Health Department head killed in plane crash
- Colorado school drops sexual harassment label on boy who kissed girl’s hand
- Australia court strikes down 5-day-old, gay-marriage law
- Fake interpreter at Mandela service: ‘Sorry,’ I have schizophrenia
- George Zimmerman will not be charged in domestic dispute
- Russian officials press bilateral U.S. trade deal
- Creator of ‘Selfies at Funerals’ blog retires after Obama flub: ‘Our work here is done’
- New Obama adviser Podesta is against Keystone but will steer clear of pipeline deliberations
Question of the Day
Probes into mortgage lending by 3 banks grow
NEW YORK — The New York attorney general’s office has requested information from three major U.S. banks about their mortgage operations, according to a source familiar with the matter.
New York Attorney General Eric T. Schneiderman has asked Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley for information on their mortgage securitization practices, the source said.
Mr. Schneiderman has also requested meetings with the banks over the next couple of weeks.
Rising pump prices add to Wal-Mart uncertainty
NEW YORK — Rising gas prices are adding another obstacle to Wal-Mart Stores Inc.’s campaign to reverse a two-year U.S. sales slump.
Strong overseas revenue, growth at Sam's Club and Wal-Mart’s specialty — cost-cutting — pushed the world’s largest retailer’s net income up 3 percent in the first quarter, beating Wall Street expectations.
But business at home is still soft. Wal-Mart says it is seeing some improvements but needs more time to determine whether hammering its low-price message and restocking items it had scrapped can turn around sales.
Wal-Mart offered a cautious second-quarter earnings outlook because of a new headache. It’s worried its low-income customers will spend less at its stores as gasoline hovers around $4 a gallon. Wal-Mart’s fears have deep repercussions, because it’s a bellwether of consumer spending and accounts for nearly 10 percent of all non-automotive retail dollars spent in the U.S.
LinkedIn boosts IPO price range
NEW YORK — LinkedIn Corp., a website where professionals connect with one another, said its initial public offering will likely raise 30 percent more than previously expected, a sign that investors are eager to bet on social networking companies.
LinkedIn now plans to sell shares at $42 to $45 each, up from a previous range of $32 to $35. At the middle of that range, the 9-year-old company would be valued at $4.11 billion, or about $40.30 per registered user.
The stock market reception to LinkedIn will be an important gauge of investor appetite for social networking, including the “Big Four” of the social media space — Facebook, Twitter, Groupon and Zynga — which are widely expected to go public in coming years.
LinkedIn’s growth has been rapid: It doubled its revenue last year to $243.1 million and posted net income for common shareholders of $3.4 million.
LinkedIn is priced at almost 17 times 2010 revenue, while Google Inc., by comparison, is trading at about six times sales.
Sony CEO defends response time to hacking
NEW YORK — Sony Corp.’s CEO was unapologetic about the company’s delay in informing the more than 100 million customers of its PlayStation Network whose account information was stolen by hackers last month.
In a stark departure from the remorseful tone struck just two weeks ago, when senior executives including heir apparent Kazuo Hirai bowed in apology in Tokyo, Sony Chief Executive Howard Stringer fired back at critics of the company’s actions that led up to the attack and its response time to the crisis.
“This was an unprecedented situation,” Mr. Stringer told reporters on Tuesday, speaking publicly for the first time since the April breach. “Most of these breaches go unreported by companies. Forty-three percent [of companies] notify victims within a month. We reported in a week. You’re telling me my week wasn’t fast enough?”
The attack, considered the biggest in Internet history, prompted the Japanese electronics giant to shut down its PlayStation Network and other services for close to a month.
Critics slammed the company for waiting up to a week before telling its customers of the attack and the possible theft of credit card information, prompting lawmakers and state attorneys general to launch investigations.
Sony said it expected to face monetary charges from the break-in but was still assessing the damage.
From wire dispatches and staff reports
By Matt Kibbe
The short-term deal will assure long-term overspending
- All-out war breaks out in GOP over budget pact
- Biden guarantees victory on immigration reform
- Teen thugs in D.C. run wild -- even while wearing GPS ankle bracelets
- Rand Paul: Budget deal 'shameful,' 'huge mistake'
- MALCOLM/REIMER: Over-criminalization undermines respect for legal system
- Obama takes 'selfie' at Mandela's funeral service
- Study IDs reasons for late-term abortions
- DIVEST! Oil is the new apartheid on college campuses
- Colorado school drops sexual harassment label on boy who kissed girl's hand
- MILLER: Dick Heller challenges D.C.s gun registration, files for summary judgment in Heller II
Independent voices from the The Washington Times Communities
Al Maurer provides a common sense, conservatarian, Constitutional conservative perspective from the battleground state of Colorado
Interviews and show reviews from the Los Angeles punk scene past and present. Los Angeles has always been rich in punk rock talent since punk rock was born.
Buzz on Bees is a column promoting the love and life of God’s greatest pollinators on earth: The Honeybee
Brazen, leading-edge, “call it like it is” columns and reporting from Ohio native, radio host and writer, Sara Marie Brenner.
Extraordinary day at Redskins Park
White House pets gone wild!
Let it snow