Bernard Madoff gets maximum 150 years
in prison
The massive Ponzi scheme run by Madoff since at least the early 1990s demolished the life
savings of thousands of people, wrecked charities and shook confidence in the
Apple CEO Steve Jobs back at work few days a week
SEATTLE (AP) -- Apple Inc. co-founder and CEO Steve Jobs is back
at his office a few days a week after taking a 5 1/2-month medical leave and
getting a new liver.
Jobs, 54, will work from home on days he doesn't work from
Apple's
The state of Jobs' health and the timing of his return have been
watched closely by investors and the media, as Jobs is seen as the visionary
behind Apple's popular iPod music players and the iPhone,
which left far more experienced mobile phone makers scrambling to catch up with
similar touchscreen devices.
Rising oil, commodity prices pull stocks higher
Energy, industrial and materials stocks pulled the market higher
in light trading Monday as investors raced to keep up with the gains in oil.
The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38.
With the quarter's end coming up on Tuesday some money managers were
buying stocks bolster their returns. The Standard &
Poor's 500 index is up 16.2 percent since the start of the April-June
quarter.
H&R Block reports better-than-expected 4Q profit
KANSAS CITY, Mo. (AP) -- H&R Block Inc., the nation's largest
tax preparer, reported better-than-expected profit for its fiscal fourth
quarter on Monday as higher fees and more consumer financial services income
offset a decline in the number of tax returns it prepared.
The Kansas City, Mo.-based company said it earned $706.9 million,
or $2.09 per share, during the three months ended April 30. That's up from
year-ago profit of $543.6 million, or $1.66 per share, and above the $2.05 per
share expected by analysts surveyed by Thomson Reuters.
Revenue for the quarter sank 3 percent to $2.47 billion, coming
in shy of Wall Street's $2.52 billion estimate.
Oil settles above $71;
Benchmark crude for August delivery gained $2.33 to settle at
$71.49 a barrel on the
Shell spokesman Precious Okolobo
confirmed the
High court won't block remote storage DVR system
The justices declined to hear arguments on whether Cablevision
Systems Corp.'s remote-storage DVR system would violate copyright laws. That
allows the
With remote storage, TV shows are kept on the cable operator's
servers instead of the DVR inside the customer's home, as systems offered by
TiVo Inc. and cable operators currently do.
Judge to decide Tuesday on Stanford's bond
HOUSTON (AP) -- A federal judge says he will decide by Tuesday
afternoon on whether to revoke a bond for
But Dick DeGuerin, Stanford's attorney,
says his client, who is broke because all his assets have been seized, has a
very strong incentive to stay: to clear his name and restore his finances.
HOUSTON (AP) -- Enterprise Products Partners LP will acquire Teppco Partners LP in a sweetened all-stock deal worth
about $3.3 billion, forming what the two pipeline operators say will be the
nation's largest publicly traded energy partnership.
The new partnership, announced Monday and expected to close by
year's end, will have operations throughout the
Keeping the name Enterprise Products Partners, it will own nearly
48,000 miles of crude and natural gas pipelines; 200 million barrels of storage
capacity for natural gas liquids, crude and refined products; and 27 billion
cubic feet of natural gas storage capacity.
SEC tells
NEW YORK (AP) -- State Street Corp. on Monday disclosed in a
regulatory filing that the Securities and Exchange Commission could bring civil
charges against its main subsidiary for possible securities violations tied to
past investments in subprime mortgages.
State Street Bank and Trust Co. received a "Wells"
notice from the SEC on Thursday tied to the ongoing investigation by the SEC
into disclosures and management of the bank's fixed-income investments during
2007 and earlier periods, according to Monday's regulatory filing.
FDA says E. coli found in Nestle sample
Nestle voluntarily recalled all Toll House refrigerated cookie
dough products made at the Danville, Va., factory earlier this month after the
FDA told Nestle it suspected consumers may have been exposed to E. coli
bacteria after eating the dough raw.
The FDA and the federal Centers for Disease Control have been
investigating whether the cookie dough was the source of the E. coli outbreak
which has sickened 69 people in 29 states, according to the latest CDC data. E.
coli is a potentially deadly germ that can cause bloody diarrhea, dehydration
and, in the most severe cases, kidney failure.
By The Associated Press
The Dow Jones industrial average rose 90.99, or 1.1 percent, to
8,529.38.
The S&P 500 index rose 8.33, or 0.9 percent, to 927.23, while
the Nasdaq composite index
rose 5.84, or 0.3 percent, to 1,844.06. Stocks ended last week mixed.
Benchmark crude for August delivery gained $2.33 to settle at
$71.49 a barrel on the
In other Nymex trading, gasoline for
July delivery gained 6.13 cents to settle at $1.9358 a gallon. Heating oil rose
5.32 cents to settle at $1.7835 a gallon.
In