News Archive for April 27, 2015

  • In Battle Against Alzheimer’s, This May Be Ground Zero

    EL RETIRO, Colombia—This misty town in the rolling hills of northern Colombia is home to 47-year-old Gudiela, a raven-haired, amiable mother of two who researchers say could help unlock a cure for Alzheimer's.

  • U.S. Stock Futures Edge Higher

    U.S. stock futures rose slightly Monday, following the Nasdaq Composite and S&P 500's push to all-time highs last week.S&P 500 futures added five points, or 0.2%, to 2116. E-mini Dow futures rose 54 points, or 0.3%, to 18070. E-mini ...

  • European Stocks Rebound After Greece Reshuffles Bailout Team

    European stocks rebounded Monday after Greece reshuffled its team for bailout negotiations with creditors.Markets had opened lower, after Friday's summit of eurozone ministers ended in deadlock, but picked up in the afternoon while Greek ...

  • PetroChina Net Profit Down 82%

    Chinese oil giant PetroChina Co. Ltd.'s first-quarter net profit dived 82%, largely due to the sharp in oil prices since the same period last year.

  • Applied Materials, Tokyo Electron Cancel Merger Plan

    TOKYO—A multibillion-dollar merger that would have created one of the world's largest makers of semiconductor equipment collapsed after the two companies said they didn't believe they could get antitrust approval.

  • Nepal Earthquake’s Economic Toll Expected to Be Massive

    As foreign aid flows into Nepal, hit over the weekend by a devastating earthquake, it will be put to work to rebuild one of the world's poorest nations.

  • Still Undeclared, Jeb Bush Touts Record Fundraising Haul

    MIAMI BEACH, Fla.—All-but-declared Republican presidential candidate Jeb Bush told about 350 donors Sunday that he had set a record in Republican politics for fundraising in the first 100 days of a White House bid.

  • Greece Weakens Yanis Varoufakis’s Influence in Bailout Talks

    ATHENS—Greece has shuffled the team involved in bailout talks with the country's international creditors, a senior government official said Monday, in a move that may reduce the influence outspoken Greek finance minister Yanis Varoufakis ...

  • Bristol-Myers Hepatitis C Therapy With Sovaldi Meets Study Goals

    Bristol-Myers Squibb Co. said its experimental hepatitis C treatment combined with an older drug, ribavirin, and Gilead Sciences Inc.'s Sovaldi cured more than 90% of patients with liver transplants and cirrhosis in a late-stage study.

  • Deutsche Bank Cuts Investment Bank, Retail Operations in Overhaul

    FRANKFURT—Deutsche Bank AG on Monday released details of its long-awaited strategic overhaul designed to close the gap with rivals for profitability and capital adequacy.

  • Deutsche Bank’s Realism Makes Bleak Reading

    The launch of a new strategy normally attempts to dazzle its audience with optimism. What investors in Deutsche Bank got on Monday was instead a heavy dose of bleak realism.

  • Sudan’s al-Bashir Wins Presidential Election

    Sudan's President Omar Hassan al-Bashir has won his second elective term in office, in a controversial vote that extends the nearly three-decade rule of the world's only head of state wanted by the International Criminal Court for war ...

  • Asean Stops Short of Harder Line on China

    KUALA LUMPUR—A meeting of Southeast Asian leaders stopped short of taking a harder line against Chinese territorial claims in the South China Sea Monday, despite warnings by the Philippines that a “worsening situation" in the disputed ...

  • Bicyclists Defy Bolivia’s ‘Death Road’

    YOLOSA, Bolivia—Nearly two dozen cyclists have been killed on Bolivia's so-called Death Road, which descends 11,000 feet from the snow-capped Andes to the rainforest. That peril is part of its allure.

  • Blackstone Group Buys U.K. Industrial Warehouses

    Blackstone Group LP has bought 16 industrial warehouses in the U.K., the latest sign that the U.S. private-equity firm is using its deep pockets to push into all corners of the European real-estate market.

  • Murder Trial Begins for Colorado Theater Shooter

    AURORA, Colo.— For nearly three years, Tom and Caren Teves have ached over the murder of their son, Alex, in a mass shooting at a Colorado movie theater—grief made worse by the fact that there has been no reckoning for the accused gunman, ...

  • The Future of Cancer: Closer to a Cure

    Decades into the declared modern war on cancer, scientists and clinicians are excited by what we are learning. Yet patients and families are too often frustrated by the lack of progress in prevention and treatment.

  • The Future of Sex: It Gets Better

    When I was 10 years old, my friend Sarah and I found a newly minted copy of “The Joy of Sex" under her parents' bed. Like many other young people at the time, we pored through the pages. We were luckier than Sarah's parents, who—like ...

  • Nest CEO Tony Fadell on the Future of the Internet

    Last summer, on vacation with my family in Canada, I decided to go water skiing.At the time, I was confident everything would be fine. It was a beautiful day, I knew how to water ski, I was in pretty good shape. Of course I was going to be ...

  • Harvey Pitt on the Future of Stock Exchanges

    Predictions about Wall Street and its institutions can be exceedingly difficult. As Paul Samuelson, America's first Nobel laureate in economics, wryly observed nearly 50 years ago, Wall Street prognosticators “predicted nine out of the last ...

  • Burger King, Tim Hortons Parent Posts Higher Systemwide Sales

    Restaurant Brands International Inc., parent of Burger King and Tim Hortons, reported a sharp increase in systemwide sales in its first quarter and a slight beat on profit, fueled in part by new product launches and continued expansion.

  • The 10-Point. A personal, guided tour to the best scoops and stories every day in The Wall Street Journal, from Editor in Chief Gerard Baker.

    Good morning,Devastation on the Roof of the WorldNepal is still reeling amid fears of aftershocks following the most destructive earthquake to hit the Himalayan nation in roughly 80 years. More than 3,200 people were confirmed dead after ...

  • Merger Surge Tempts Hedge Funds to Make a Bet

    Hedge funds that bet on mergers have had scant success in recent years.Now some are pinning their moneymaking hopes on Royal Dutch Shell PLC's $70 billion planned takeover of BG Group PLC.

  • Spain to Lift 2015 Growth Target

    MADRID—Spain's economy is expected to grow 2.9% this year, Prime Minister Mariano Rajoy said Monday, touting the improved forecast as a result of his government's spending curbs and warning against populist alternatives in this year's ...

  • Nepal Rescuers Struggle to Reach Earthquake Victims

    KATMANDU, Nepal—As international aid arrived in Nepal's quake-hit capital, army and police teams began their third day of search-and-rescue operations on Monday and the government tried to speed the delivery of water, tents and other ...

  • Two Probes, No Conclusions Yet on Police Shooting

    Authorities as of Sunday hadn't made a preliminary determination about whether a New York Police Department detective was justified in shooting a man who diedfollowing a violent confrontation with police in Manhattan's East Village this ...

  • The Future of Games Will Focus on Escaping From Reality—and Improving It

    Do you want an escape from everyday life, or a way to change your life? In the coming decades, gaming technology will make both choices possible in 3-D virtual reality to a degree unheard of today.

  • Moscow’s Once-Bustling Airports Decline as Russia’s Isolation Deepens

    MOSCOW—Travel to and from Russia's once-thriving airports is declining as fewer locals venture outside the country and foreign tourist and business visitors dry up.

  • Swedish Corporate Jet Scandal Topples Another CEO

    STOCKHOLM—A scandal over the alleged overuse of a corporate jet at Swedish company SCA claimed another scalp on Monday after Industrivarden, which holds a big stake in the paper maker, dismissed its chief executive Anders Nyren for his part ...

  • Gadgets Bring Diagnostics Into the Home

    A Silicon Valley startup wants to bring the doctor's office to the home.The company, Scanadu, is hoping to sell to consumers simple-to-use devices that, with the help of a smartphone app, could analyze vital signs with a quick scan of the ...

  • Nepal Earthquake: India and China Send Rescue Teams to Himalayan Nation

    India and China rushed rescue teams and other assistance to earthquake-hit Nepal, a strategically important neighbor for the two Asian giants, which are jostling for influence in the Himalayan nation.

  • Mount Everest Climbers Rescued After Avalanche

    KATMANDU, Nepal—Rescue helicopters on Monday pulled dozens of stranded climbers from camps on Mount Everest after an earthquake-triggered avalanche over the weekend killed 17 people on the mountain.

  • Australia’s M2 Group Launches Rival Offer for iiNet

    SYDNEY—M2 Group Ltd. could be kicking off a bidding war for internet-service-provider iiNet Ltd. with an offer of around 1.5 billion Australian dollars (US$1.18 billion), in a further shake-up of Australia's telecommunications scene.

  • Fanuc to Increase Dividends After Push by Activist Investor Daniel Loeb

    Japanese robot maker Fanuc Corp. said Monday it would sharply boost dividends, handing a victory to U.S. investor Daniel Loeb and marking a milestone in Japan's move toward boosting shareholder returns.

  • Zynga Enters Into Retention Agreements Amid Executive Departures

    Zynga Inc. has entered into retention agreements with two of its executives, after the gaming company's chief executive and operating chief resigned in recent weeks.

  • LabCorp Profit Falls on Charges, Raises Earnings Guidance

    Laboratory Corp. of America Holdings said its profit in the first quarter dropped largely due to restructuring and acquisition-related charges, but the medical-services provider raised its profit outlook despite the stronger dollar's effect ...

  • Maruti Suzuki Net Profit Soars as Volumes Rise

    NEW DELHI—India's largest car maker Maruti Suzuki India Ltd. on Monday beat market expectations with a more than 60% jump in quarterly net profit, sending its shares higher.

  • Epitomized Hype of Tech Boom and Bust

    In the late 1990s, Ben Rooks was an equities analyst, spending much of his time flying around the country meeting with health-care and technology companies that could soon be going public.

  • P&G Joins Movement to Cut Ad Costs

    The world's largest advertiser wants to spend less on marketing, dealing another big blow to an industry already battered by corporate cost-cutting.

  • Nomad Hungry for More Food Deals

    LONDON—When Martin E. Franklin and Noam Gottesman founded Nomad Holdings Ltd. in early 2014, the two veteran entrepreneurs knew they wanted to buy something. They just didn't know what.

  • Ukraine President Petro Poroshenko, EU Officials Discuss Reforms in Kiev

    KIEV—Top European Union officials were meeting Monday with Ukrainian President Petro Poroshenko in talks aimed at speeding economic and political reforms, as heavy fighting around a key town in the country's east again tested a fragile ...

  • Oil Drifts Lower

    Crude-oil futures were lower in European trade on Monday as investors weighed supply-demand fundamentals amid weakening confidence in the latest price rally.

  • German Bond Swings Show Lack of Protection

    The German bond market went sharply into reverse last week. On April 17, yields on the 10-year Bund had fallen as low as 0.05%; by last Friday they stood at 0.15%.

  • How the Nepal Earthquake Happened

    A little before noon Saturday in Nepal, a chunk of rock about 9 miles below the earth's surface shifted, unleashing a shock wave—described as being as powerful as the explosion of more than 20 thermonuclear weapons—that ripped through the ...

  • Pound Buoyant Despite Election Uncertainty

    Investors hate uncertainty, the old cliché runs. But ahead of one of the least certain elections in recent U.K. history, investors in sterling seem mostly buoyant.

  • South Korean Prime Minister Steps Down


  • Japan’s Inpex Secures Stake in Abu Dhabi Oil Concession

    TOKYO—Japan's Inpex Corp. has secured a 5% stake in Abu Dhabi Company for Onshore Oil Operations, or ADCO, one of the Gulf nation's biggest oil concessions, becoming the second foreign stakeholder after France's Total SA.

  • Huatai Securities Seeks Hong Kong Listing

    HONG KONG—Chinese brokerage Huatai Securities Co. plans to seek approval for a Hong Kong initial public offering that could raise as much as US$3.5 billion.

  • Nepal Races to Reach Earthquake Victims

    A man sat amid what was left of his damaged house in Bhaktapur on Monday. More than 3,200 people were confirmed dead after Saturday's 7.8-magnitude quake—Nepal's most devastating temblor in roughly 80 years.

  • Air-Safety Experts Weigh Rules for Battery Cargo on Jets

    International air-safety experts this week will consider proposals to restrict lithium batteries carried as cargo by commercial jets, a sign that momentum is building for a ban on some of the most common types of shipments.

  • Pharmaceutical Companies Buy Rivals’ Drugs, Then Jack Up the Prices

    On Feb. 10, Valeant Pharmaceuticals International Inc. bought the rights to a pair of life-saving heart drugs. The same day, their list prices rose by 525% and 212%.

  • Kazakhstan’s Longtime Leader Nazarbayev Secures Election Win

    ASTANA, Kazakhstan—Preliminary results of weekend nationwide polls in Kazakhstan show the long-ruling president confirming his incumbency with 97.7% of the vote amid a record turnout, election officials said Monday.

  • Fitch Downgrades Japan Over Fiscal Concerns

    TOKYO—Fitch Ratings downgraded Japan's credit rating Monday, highlighting the challenges that Prime Minister Shinzo Abe's administration faces in trying to stoke growth while dealing with the nation's towering public debt.

  • ICICI Bank Profit Rises 10%

    MUMBAI—ICICI Bank Ltd., India's largest private-sector lender by assets, Monday reported a 10% increase in its fiscal-fourth quarter profit helped by higher interest income.

  • Capgemini Buys IGATE for $4 Billion

    PARIS—French computer services and consulting company Capgemini said Monday it will buy U.S. peer IGATE for $4 billion, making North America the French company's largest market.

  • Tech Giants Help Track Nepal Earthquake Survivors as Communications Are Hit


  • Millennium Hedge Fund, Quant Trader Plan Venture

    For two decades, Igor Tulchinsky and his team of quantitative traders have helped fatten the returns of New York hedge fund Millennium Management LLC.

  • Asian Shares Push Higher as Mining Stocks Lift Sydney

    Asian markets rose Monday, with Australia's S&P ASX 200 taking another stab at an elusive seven-year high with the help of gains in mining stocks, and Shanghai shares jumping on the latest rhetoric from Beijing on reform.

  • New Yorkers Skeptical of New Ethics Laws in Albany, Poll Shows


  • Israel Says It Carried Out Airstrike on Syrian Border


  • Property Developer China Vanke’s Profit Falls Sharply

    SHANGHAI—China Vanke Co., one of China's largest property developers, said its first-quarter net profit fell 57.5% from a year earlier, as it sold and completed the construction of fewer properties.

  • Digging for Value in Japan’s Rally

    Japan's market rally is starting to look long in the tooth. But the country still offers opportunities for discerning investors.The Nikkei Stock Average soared past 20000 last week for the first time in 15 years. The storied index now ...

  • Canada’s Whitecap Attracts Bank of Montreal as Investor for New Fund

    Canadian venture-capital firm Whitecap Venture Partners has raised 70 million Canadian dollars ($57.5 million) for its latest fund, counting one of Canada's big banks among its investors.

  • Bankia Posts Rise in First-Quarter Profit

    MADRID—Bankia SA on Monday reported a rise in first-quarter net profit as the bank set aside fewer funds to cover loan losses, a sign that Spain's economic recovery is gathering steam.

  • Abe Aims to Get U.S. On Board Japanese Trains

    TOKYO—When Prime Minister Shinzo Abe visits the U.S. this week, he will act as salesman-in-chief by marketing Japan's high-speed rail system.

  • The Office of the Future: More Comfortable, and Even More Untethered

    Imagining the office of the future is a perilous business, as foreseers of “the paperless office" can attest. But its outlines are already here, if you know where to look.

  • The Olympics of the Future

    Final report from the 2044 Port-au-Prince Olympic Games in Haiti:The Games of the 38th Olympiad of the modern era proved to be a great success, as 7.2 billion people, or 80% of the world's population, watched the 18 days of competition.

  • The Future of Pets

    It's tempting to think that our future will be filled with cloned animals, genetically modified (nonallergenic! tiny!) creatures, virtual animals like lolcats (images of cats) and robotic pets. But I think the reality is that as we continue ...

  • The Future of Shopping

    Since we were hunters and gatherers, the human species has been going to markets.Historically, retail is the dipstick of social change; what made a good store in 1600, or in 1900, or even 2000, and what makes a good store today are ...

  • The Future of Space Exploration

    July 2045I am jet-setting on a one-hour suborbital flight from Boston to Hawaii for a meeting devoted to atmospheric data on habitable exoplanets—planets outside our solar system. It's a topic the world never tires of.

  • The Future of Supermarkets

    In 20 years, grocery shopping won't be a chore—it will be effortlessly integrated into your daily life.The digitization and merging of your personal history, food preferences, ingredient information and health data will take the guesswork ...

  • The Future of Plastic Surgery

    What will plastic and reconstructive surgery look like in 30 years? I think it's interesting to consider both the supply side of the question—what new technologies will exist in three decades—as well as the demand side. What will people ...

  • The Future of Therapy Lies in Treating the Whole Person

    In the future, Americans will be healthier, because our health-care system will treat us as whole persons. That is, the artificial separations between physical, behavioral and mental-health care will have disappeared.

  • The Future of Global Trade: Jon Huntsman on the Radical Change Ahead

    Two years after I was born, President John F. Kennedy created the Office of the Special Trade Representative, a brief forerunner to today's U.S. trade representative. Expanded exports and open markets were central to our economic-security ...

  • The Future of Adolescence

    Because the adolescent journey is both ancient and eternal, the enterprise of adolescence in the future will look much like it does in the present and did in the past.

  • The Future of Advertising: Farewell, Mass Marketing

    As consumers, we love visions of the future in which breathtaking technologies and electronic wizardry are so common they blend in with the furniture. Think of “2001: A Space Odyssey" (with product placements that included Pan Am and the ...

  • The Future of College: It’s Online

    Universities as we know them began nearly a millennium ago as elite institutions that admitted only a few students from privileged families.

  • Clark Hunt on the Future of Football: NFL Will Continue Global Expansion

    An early architect of modern professional sports, my father, Lamar Hunt, coined the term “Super Bowl" in July 1966. He was a man of tremendous vision, but even he could not have predicted the global phenomenon that professional football has ...

  • The Future of Guns: Political Battle Will Focus on States

    The most significant development won't be a nationwide swing toward gun rights or gun control—but a widening and entrenched gulf that will divide Americans politically, socially and even technologically.

  • Keys to the Highway of the Future: Smart Cars, Smarter Networks

    For 3,000 years, people lived close to the land or in cities, their worlds limited to walking distance. Just 100 years ago, Henry Ford's Model T changed all that, and America's highways have strained to keep up ever since.

  • The Future of Reading: There’s No Mystery About It

    Reading is among the most distinctive practices in human history: the study of abstract symbols used to render beliefs, experiences, physical descriptions, theoretical explanations and ideas in books and newspapers, on billboards and even ...

  • The Future of Religion Is Ascendant

    Far from a dying thing, religion is flourishing and will continue to do so.This is a trend driven not so much by ideology (whether conservative, progressive or in between) or by issues of the day that generate religious debate (prayer in ...

  • Why the Future of Religion Is Bleak

    Religion has been waning in influence for several centuries, especially in Europe and North America. There have been a few brief and local revivals, but in recent years the pace of decline has accelerated.

  • Chipotle Says It Has Finished Removing GMO Ingredients From Menu

    Chipotle Mexican Grill Inc. said it has finished removing genetically modified ingredients from its foods, becoming the first major restaurant chain to do so amid growing U.S. consumer questions about the agricultural technology.

  • Greater New York Watch

    Driver for Daily News Dies in Vehicle CrashA 24-year-old truck driver was killed after his vehicle and a green “Boro Taxi" collided in Brooklyn early Sunday morning, police said.

  • In Tony Hamptons Community, Plans for Potties Get Flushed

    AMAGANSETT, N.Y.—On hot beach days in the Hamptons, crowds regularly descend on the Amagansett Free Library. At times, the queue spills out the door and snakes down a pathway, through an open fence and along the sidewalk.

  • What’s the Deal

    GM Has Lavish Plans for Cadillac HeadquartersDetails are emerging about the new Manhattan headquarters of General Motors Co.'s Cadillac division, among them a so-called experience center that will include a public cafe, a lounge, high-tech ...

  • Photos: Tokyo’s Annual LGBT Parade

    Costumed participants attend the Tokyo Rainbow Pride parade in Tokyo on April 26. Thousands of lesbian, gay, bisexual, and transgender people and their supporters marched on the streets to promote a society free of prejudice and ...

  • Yankees Take Subway Series With 6-4 Win Over Mets

    The final night of the first baseball battle of New York, 2015 edition, wasn't pretty, or decisive, in the way that the first two nights of this first Mets-Yankees series of the season often were.

  • Baltimore Mayor Calls For Peace After Violent Protests

    BALTIMORE—Mayor Stephanie Rawlings-Blake issued a “call for peace" Sunday, a day after protests over the death of Freddie Gray turned violent, leading to 35 arrests and causing minor injuries to six police officers.

  • Barclays Center Prepares to Go Green

    Hundreds of thousands of plants will be moved to the top of Barclays Center starting this week, the final stage in a plan to complete the largest green roof ever put on a sports arena in the U.S.

  • Manhattan Parish Fights for Survival

    They gathered for an early celebration of a centennial that may never arrive.Hundreds of parishioners of Our Lady of Peace strolled through Manhattan's Upper East Side on Sunday clutching pictures of the ancestors who founded this Roman ...

  • Some Groups Cool on Christie

    Gov. Chris Christie worked hard to win endorsements of blacks and Latinos in his re-election campaign and has frequently touted his inroads in minority communities in the buildup to a potential presidential run.

  • ‘The Rake’s Progress’ at the Met

    New World Symphony Carnegie Hall 881 Seventh Ave., (212) 247-7800 Tuesday carnegiehall.orgThe conductor Michael Tilson Thomas is back in the city, this time with Florida-based professional training orchestra New World Symphony. Violinist ...

  • Sweet Eats: Digging In at Hebrew Home

    Were it not for waffles it might have been another few decades before I found my way to the Hebrew Home, a senior residence in Riverdale.I've been wanting waffles for a while.

  • Paramount Offers a Quiet, Afternoon Spot in the Theater District

    At this time of year, the Paramount Hotel in the Theater District is a hub for Broadway: the 2015 Tony Award nominations will be announced there on Tuesday, and a pop-up shop with awards merchandise occupies its retail space.

  • CBS Executive Donates to Alma Mater, Pace University

    Joseph Ianniello, chief operating officer at CBS Corp., endured his share of humbling moments during his undergraduate years at Pace University.

  • MoneyBeat: Much Ado About Little

    86: The number of trading days the S&P 500 has gone without finishing up or down at least 2%, the second-longest streak since the financial crisis.

  • A Real-Estate Scion Makes His Own Way

    When Paul Massey III was attending St. Lawrence University in 2011, he talked to his father about working for the family business, the commercial real-estate sales brokerage Massey Knakal Realty Services.

  • Art, Fashion, Social Worlds Converge at the New Whitney

    The Whitney doesn't even open to the public until May 1 and we've already been there three times. How's that for being on the cutting edge?The third time took place on Friday night at a huge party that brought out a couple thousand members ...

  • China’s Currency Move Is Sign of Larger Struggle in Yuan

    Look no further than trading in the Chinese yuan if you want to see how challenging coming years are likely to be for China's policy makers and the global economy.

  • At All-Night Philosophy Event, Physics, Logic and Snoring

    Particle physics, the irreversibility of time and the allure of nonexistence—along with plenty of grumbling about croissants that never showed up—played center stage at an overnight philosophical happening on Manhattan's Upper East Side ...

  • Proceedings | Highlights From the Law Blog

    Twitter Retains Attorney Who Defeated Pao SuitThe employment lawyer who defeated Ellen Pao's discrimination lawsuit against venture-capital firm Kleiner Perkins Caufield & Byers has landed another high-profile Silicon Valley gender-bias ...

  • Multinationals Shift Investment Focus to Developed Countries: Survey

    Multinational companies are increasingly focusing their foreign investment in developed countries, favoring technological development and productivity over cheap labor.

  • What’s News—

    Business & Finance***Deutsche Bank said its first-quarter net profit fell around 50% as strong revenue growth was outweighed by a record penalty over rate-rigging allegations last week.

  • What’s News—

    Business & Finance***The chairman of Volkswagen unexpectedly resigned, opening a new period of uncertainty for the automotive giant just weeks after he threw the company into a management crisis by withdrawing his support for the CEO.

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