Financial news on September 22, 2012

Business and Financial news
As the U.S. Borrows, Who Lends?

Floyd Norris Off the Charts column notes that China and the Federal Reserve significantly reduced their position in US Treasury securities during the twelve month period ending in July, actions that were offset by a surge in Japanese buying; contends that widely-held anxiety that such a sell-off would raise borrowing costs seems to have been unfounded. Read more..

By FLOYD NORRIS - The New York Times

BlackBerrys Fail Overseas

Research in Motion reports that an unidentified technical problem cut off BlackBerry e-mail and other services to some of its customers in Europe, the Middle East and Africa for several hours. Read more..

By IAN AUSTEN - The New York Times

Darden Posts a Profit and Plans Smaller Portions

Darden Restaurants reports a better-than-expected first-quarter profit of $111 million, up from $106.6 million in the same period a year earlier. Read more..

By THE ASSOCIATED PRESS - The New York Times

Disappointing Results at a Business Software Maker

Business software maker Tibco Software reports lower-than-expected third-quarter revenue of $26.1 million, up from $23.5 million in the same period a year earlier; forecasts fourth-quarter results below estimates on expected lower revenue from its services segment. Read more..

By REUTERS - The New York Times

Europe Hints at Impatience in Settling Google Case

Joaquin Almunia, European Union's top antitrust regulator, signals that there are limits to how much longer his office would try to negotiate a settlement with Google over whether its Internet search engine favored the company’s own Web offerings to the detriment of competitors; warns that he retains the power to issue formal charges if negotiations do not soon bear fruit. Read more..

By JAMES KANTER - The New York Times

Ex-Fannie Mae Chief Is Dismissed From Investors’ Suit

Franklin D Raines, who resigned as chief executive of Fannie Mae in late 2004 amid revelations of extensive accounting improprieties at the mortgage finance company, is dismissed from a long-running civil suit brought by Fannie Mae investors hoping to recover damages. Read more..

By GRETCHEN MORGENSON - The New York Times

IPhone 5 Fever? Don’t Count Samsung Out

James B Stewart Common Sense column notes that Samsung has built an impressive lead in global mobile phone sales over Apple, despite that company's many significant advantages, controlling 24.1 percent of the market compared with Apple's 6.4 percent; notes that Samsung has capitalized on reliably functional design and a wholehearted embrace of Google's Android operating system. Read more..

By JAMES B. STEWART - The New York Times

Medicare Bills Rise as Records Turn Electronic

The move to electronic health records may be adding billions of dollars to Medicare costs by enabling hospitals and physicians to bill more for the same services. Read more..

By REED ABELSON, JULIE CRESWELL and GRIFF PALMER - The New York Times

Shares Close Flat After Rally on iPhone Sales

Stocks close flat, even as investors welcome Spain's efforts to seek a bailout and cheer as Apple's stock soars on the first day of iPhone 5 sales. Read more..

By REUTERS - The New York Times

U.S. and European Regulators Approve Universal’s Purchase of EMI

Universal Music Group receives regulatory clearance in Europe and the United States for its $1.9 billion takeover of EMI Music, ending months of uncertainty; future remains unclear for several artists who will be cast off when Universal complies with the European Commission's demand that it sell off one third of EMI's assets. Read more..

By BEN SISARIO - The New York Times

See what else happened on September 22, 2012