Financial news on August 27th, 2011

Business and Financial news
2 Oracle Leaders Earned More Than $77 Million Each

Mark V. Hurd, president, made $78.4 million in the company’s latest fiscal year, while Lawrence V. Ellison, chief executive, earned 77.6 million. Read more..

By THE ASSOCIATED PRESS - The New York Times

Big Asset Sale Near at Bank of America

A consortium of sovereign wealth funds and private equity firms is in negotiations with bankers, an official briefed on the talks said. Read more..

By NELSON D. SCHWARTZ - The New York Times

Germans Start to Question Their Economic Resilience

German analysts once had a predominantly optimistic view of how the German economy would ride out the world’s economic storm. Not anymore. Read more..

By FLOYD NORRIS - The New York Times

Greece Sets Conditions on Debt Rollover

The government said it might only go ahead with a bond swap plan that is a critical part of its second bailout if at least 90 percent of private creditors who hold government bonds participate. Read more..

By THE ASSOCIATED PRESS - International Herald Tribune

Investment Advice for Doctors: First, Do No Harm

They take eight or so years off from the world to do nothing but learn how to be doctors, then receive a six-figure annual paycheck with no real idea of what to do with it. Read more..

By RON LIEBER - The New York Times

Micros Systems Posts a Profit and Shares Surge

Micros Systems, which provides information systems to the hospitality industry, posted quarterly results ahead of market estimates, helped by revenue growth in its services business Read more..

By REUTERS - The New York Times

Punitive Damages Ruled Possible in Gulf Oil Spill

A federal judge has ruled that plaintiffs can seek punitive damages in some claims related to the 2010 Gulf of Mexico oil spill. Read more..

By THE ASSOCIATED PRESS - The New York Times

Star Scientific Loses Bid for Patent Royalties

The maker of tobacco products lost a bid for a new trial in its decade-long effort to extract patent royalties from Reynolds American on a way to reduce carcinogens in cigarettes. Read more..

By BLOOMBERG NEWS - The New York Times

Tiffany’s Beats Expectations and Offers Positive Outlook

The luxury retailer posted robust growth worldwide, highlighted by a 30 percent rise in net income, and raised its full-year profit forecast. Read more..

By THE ASSOCIATED PRESS - The New York Times

Voluntarily Disclose Your Offshore Accounts, or Else

The second round of disclosure under an I.R.S. program ends Sept. 9, and the penalties are severe for those who don’t come forward. Read more..

By PAUL SULLIVAN - The New York Times

See what else happened on August 27th, 2011