Business News Archive - July 11, 2009

New York Attorney General Andrew Cuomo says the social networking Web site Tagged.com uses deceptive e-mail marketing practices and invades privacy. Cuomo said in a release this week that Tagged devised an illegal plan to lure new members in which consumers who visited its site were tricked into providing the company with access to their personal e-mail contacts, which were then allegedly used to send millions of promotional e-mails disguised to appear as if they were coming from a personal contact. This company stole the address books and identities of millions of people, Cuomo said.

Four major banks, including Bank of America Corp., say they stopped accepting IOUs Saturday from the cash-strapped state of California. Bank of America, JPMorgan Chase & Co., Wells Fargo & Co., and Union Bank of California said they no longer would redeem the state IOUs for cash value, the Los Angeles Times reported. The state expects to issue nearly $3 billion worth of interest-bearing IOUs this month as the Legislature struggles to close a $26 billion budget deficit. Citibank and Bank of the West, meanwhile, agreed Friday to honor the IOUs.

Italy's Senate tabled a bill to create an official registry for sommeliers after growing opposition from a group representing wine tasters, officials said. There is no need for an official registry, said Terenzio Medri, who heads the Association of Italian sommeliers.

CAPE CANAVERAL, Fla., July 11 /PRNewswire-USNewswire/ -- Space shuttle Endeavour's launch to the International Space Station has been postponed until Sunday to give technical teams more time to evaluate lightning strikes at the launch pad that occurred during thunderstormsFriday.

The founder of the U.S.

Washington agriculture officials say the state's cherry crop is far from the pits -- in fact, it's a record haul thanks to a mild spring and hot summer. The cherry crop is twice the size of last year's harvest, and is so big it's overwhelming processing plants, the Yakima Herald-Republic reported Saturday. What we've seen in the last couple of days is that there is so much fruit in the orchards that our warehouses just aren't keeping up, Washington State Fruit Commission President B.J.

Hostilities have escalated in a long-running battle over whether U.S. radio stations should pay royalties to recording artists, observers say. A proposed law has been passed by the U.S.

The Georgia Fruit and Vegetable Growers Association says Herring Produce of Lake Park, Ga., is voluntarily recalling a recent lot of whole Anaheim peppers. The association said in a release Wednesday that peppers bearing the production lot number 0801206 may be contaminated with salmonella.

MARINETTE, Wis., July 11 /PRNewswire/ -- A Lockheed Martin (NYSE: LMT)-led industry team held a keel-laying ceremony at Marinette Marine's shipyard today for Fort Worth, the U.S. Navy's third Littoral Combat Ship (LCS).

Word of the Day
  • To befool; deceive; balk; jilt.
  • An illusion; a trick; a cheat.
The word 'begunk' may come from a nasalised variant of Scots begeck ("to deceive, disappoint"), equivalent to be- +‎ geck.