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Business News Archive - December 26, 2008

MISGAV, Israel, Dec. 26 /PRNewswire-FirstCall/ -- Tefron Ltd. (Pink Sheets: TFRLF; TASE: TFRN), a leading producer of seamless intimate apparel and engineered-for-performance (EFP(TM)) active wear, today announced that the ticker symbol for its ordinary shares has been changed to TFRLF.

Fraudulent business practices in Japan produced consumer losses of about $37.62 billion last fiscal year, a government estimate said Friday. Called vicious business in Japan, fraudulent business practices include fraudulent mail and door-to-door sales and offers of defective or mislabeled products, Kyodo news service reported. The Cabinet Office, which reported the data, called for creating a system to bail out victims. The report said the estimated losses for the year ended March 2008 accounted for 0.7 percent the country's gross domestic product. Most victims ignore their losses because it would cost them a lot to recover them, the report said.

Japan's November industrial output fell 8.1 percent from October, the country's largest monthly decline, the government said Friday. Blaming the decline on the recession-hit automotive and high-tech industry, the ministry of economy and trade said the November decline came on the heels of a 3.1 percent decline in October. The numbers were another indication that Japan's export-driven economy is rapidly running out of breath in the current global financial turmoil, Kyodo news service reported. The ministry also said Japan's index of industrial shipments declined 8.4 percent, another largest-ever drop, in November and that of industrial inventories rose 0.7 percent to 110.3, the highest since September 2001. Companies are scaling back their production one after another.

SHANGHAI, Dec. 26 /PRNewswire-Asia/ -- In representing the Organizing Committee of 2009 Auto Shanghai, Mr. Lu Ren, Executive Vice President of Shanghai International Exhibition Co., Ltd.

HOUSTON, Dec. 26 /PRNewswire/ -- Shell subsidiary, Shell Energy North America (US), L.P.

NEW YORK, Dec. 26 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc. (NYSE: JNY)("Jones") today announced that it has successfully completed an amendment to its existing $1.25 billion revolving credit facilities. J.P. Morgan Securities Inc. and Citigroup Global Markets Inc.

The Elie Wiesel Foundation for Humanity said it lost substantially all of its assets by investing in a New York firm under investigation for fraud. The foundation said it had $15.2 million managed by Bernard Madoff Investment Securities, which was allegedly run as a Ponzi scheme in which returns to

MasterCard Inc.'s SpendingPulse said U.S.

Crude oil prices rose Friday to more than $36 a barrel on the New York Mercantile Exchange in a holiday-shortened trading week. Crude oil prices gained 85 cents to $36.20 per barrel, after falling to $35.35 Wednesday. Heating oil prices rose 0.0387 cents to $1.237 per gallon.

MCLEAN, Va., Dec. 26 /PRNewswire/ -- Dataline's expert on Cloud Computing Security, Kevin Jackson, lent his insight into the safety of cloud computing and it's possible implementation into the White House.

Word of the Day
drawcansir
  • A blustering, bullying fellow; a pot-valiant braggart; a bully.
This word is named for Draw-Can-Sir, a character in George Villiers' 17th century play The Rehearsal.
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