Brussels, Belgium (AHN) – Microsoft Corp. on Thursday filed an antitrust suit before the European Union’s Competition Commission charging the search engine giant Google Inc. with unfair competition.

In the suit, Microsoft accused Google of using technical tactics to block competitors from the online advertising and search market in Europe. Google dominates the search engine market in Europe with a 95 percent share and the remainder is held by Yahoo!, which is powered by Microsoft’s Bing.

According to Microsoft general counsel Brad Smith, Google walls off its content, preventing Bing from indexing it, requires advertisers to exclusively use its system, prohibits top websites from distributing non-Google search boxes and prohibits European telecommunications companies from distributing Windows Live services, such as email and online document storage.

Smith also accused Google of preventing Bing and Windows Phone, Microsoft’s latest mobile phone operating system, from accessing video-sharing site YouTube.

Microsoft’s action brings to four the number of antitrust complaints filed against Google before the EU commission. British, French and German websites filed similar complaints in February 2010.

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More than 300 churches in U.S. have installed ATM-like machines so faithful can tithe

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March 30, 2011, Federal financial regulatory agencies request comment on a joint proposed rule to ensure that regulated financial institutions design their incentive compensation arrangements to take account of risk.

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Washington, D.C., United States (AHN) – U.S. housing prices continued to slump in January posting a 0.90 percent drop from December, according to data released Wednesday by the S&P/Case-Shiller (CSI) home price indices.

The continued slide in house prices could indicate that house prices are headed into a double dip fall.

In addition, year-over-year comparisons of prices for the nation’s 10 largest cities showed a drop from January 2010 of 2.04 percent and a 3.06 percent drop in the top 20 metropolitan areas for the same period through January 2011.

Don’t look for an upturn in prices anytime soon, says Robert Shiller, the co-founder of the index.

Part of the problem of weak prices is weak demand with some investors unwilling to buy now if prices are going to fall further.

However, another part is the inability of individuals to buy homes because of a lack of a job, low pay or their credit was ruined during the recession.

Further compounding the problem of weak prices and sales is the specter of more foreclosed homes flooding what is already a buyer’s market with too few buyers.

Shiller noted that there are about 2.5 million homes on the verge of foreclosure.

That number could rise if people who owe more on their mortgage than their home is worth find a job in another area and decide to abandon a home they can’t sell.

Last week U.S. Commerce Department officials announced that sales of new homes fell 16.9 percent in February compared with January, which was down by 28 percent from sales of new homes in February 2010.

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Manila, Metro Manila, Philippines (AHN) – The Philippine Central Bank on Sunday blamed bad loans for the closure of Banco Filipino. According to the central bank, more than 50 percent of the $92 million (PHP 4 billion) loans extended by the thrift bank were made to directors, officers, stockholders and related interests or companies with ties to Banco Filipino.

The central bank added that 91 percent of Banco Filipino’s outstanding loans as of September 2010 were past due.

The embattled bank also appears to have excessively spent its income on salaries, benefits and professional fees. From 2000 to 2009, the amount paid for these items averaged $13.7 million (PHP 597 million), while the bank’s gross income was just $5.6 million (PHP 242.5 million).

At the same time, Banco Filipino – which earlier blamed the central bank for its alleged failure to follow a court order to pay damages over the central bank’s forced closure of Banco Filipino 26 years ago – owed the central bank $101.2 million (PHP 4.4 billion) in past due loans.

Because of the second closure of Banco Filipino, Central Bank Governor Amando Tetangco Jr. urged Philippine thrift banks on Wednesday to be guided by good governance practices. In a speech before the convention of Chamber of Thrift Banks, Tetangco said that thrift banks should:

• Streamline their processes to achieve better efficiency
• Invest more to strengthen core competencies, and
• Improve their guidelines to protect depositors from potential abuse and malfeasance.

Aside from sticking to good governance practices, Tetangco asked the banks to help educate Filipinos on basic financial information to help them make better savings and investment decisions.

Banco Filipino Vice Chairman Perfecto Yasay Jr. opposed the central bank’s decision to place the thrift bank under receivership of the Philippine Deposit Insurance Corporation. Yasay claimed that Banco Filipino is not insolvent, even if the bank had to close branches in the middle of March because of heavy withdrawals.

The PDIC said it was speeding the processing of validating deposit accounts to pay the deposit insurance claims of account holders.

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Member credit unions throughout Arizona, Colorado and Wyoming cast their votes in favor of the three-way merger, creating the new Mountain West Credit Union Association.

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Medford, OR, United States (AHN) – Harry & David, the company that sells fruit baskets and gourmet food gifts, has filed bankruptcy protection to reorganize its balance sheet.

The Oregon-based retailer said on Monday holders of 81 percent of its senior notes have agreed to terms of the restructuring. Note holders will backstop a $55 million rights offering that will allow the company to emerge from Chapter 11. Under the plan, $198 million of senior notes will be converted into equity.

Harry & David is seeking approval from the U.S. Bankruptcy Court in Wilmington, DE, for a $100 million debtor-in-possession loan from secured lenders and another $55 million debtor-in-possession loan from some of its note holders.

In its court petition, the company listed Wells Fargo Bank as its biggest creditor, with a claim of nearly $200 million in secured fixed rate notes and floating rate notes.

The company, which sells brands including Cushman’s, Moose Munch and Wolferman’s, says orders and shipments through its online catalog and 70 stores nationwide will operate normally throughout the bankruptcy process.

It also assured vendors that the Chapter 11 financing will provide liquidity to address post-petition obligations and expenses.

Harry & David grows fruit from its own orchards in Medford, and packs by hand each gift its ships. Last month, it reported double-digit declines consolidated gross profit in the previous two successive quarters, citing lower selling prices, higher product costs and more markdowns.

“Harry & David is an iconic brand, and we believe this is an important first step to position the business for long-term profitable growth,” chief executive and chief restructuring officer Kay Hong said in a statement.

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A credit report contains a history of how you’ve paid your bills, how much credit you have, and anything else that would affect your credit worthiness, like loans, mortgages and outstanding credit card bills.By reviewing that three… Richard Assante March 27, 2011

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Orlando, FL, United States (AHN Sports) – Martin Laird has had two previous 54-hole leads on the PGA Tour. Neither resulted in a victory.

Laird hopes to reverse that trend over the final 18 holes of the Arnold Palmer Invitational. Laird was locked in a head-to-head duel with playing partner Spencer Levin Saturday and took a two-shot lead when he made birdie at the par five 16th and Levin made bogey.

Laird’s 70 gave him a 54-hole total of 205, 11-under par at the Bay Hill Club. Levin’s 71 left him alone in second at nine-under and will once again go head-to-head with the long-hitting Laird on Sunday.

Levin is two shots clear of Bubba Watson and Steve Marino who finished at seven-under. He’s three ahead of Rickie Folwer and David Toms who finished at six-under.

Laird got off to a great start with birdies at four, five and six. He got to 12-under quickly and led by four. Levin stayed close and was impossible to shake for most of the day. The two were tied at 10-under after Laird bogeyed the 14th and 15th holes and Levin went par-bogey.

At the 16th, Levin ran into tree trouble with an errant drive that sailed right. His recovery hit a tree and fell into a fairway bunker. From 163 yards out, his ball hit on the bank of the green and back into the water hazard.

Laird hit a beautiful drive and was just right of the green from 190 yards with his second shot. He got up and down for birdie to get to 11-under while Levin made a bogey six and dropped back to nine-under.

Both parred in and face each other again in the final round.

“I’m going to have to hit it better and think better,” he said, looking forward to the final round where he will attempt to win his first PGA Tour event. “I have to drive the ball in the fairway. I’m two back. Who knows? We’ll see.”

Laird thought back to his previous third round leads and was quick to know what he has to do to win. “I have to go out and concentrate as hard as I can. This is the first year I’ve come out and played well early,” said Laird, who has one PGA Tour victory.

Watson got his day going with an eagle at the par five sixth hole and didn’t have much happen for him after that until he holed a 25-footer for birdie at the 18th that got him a 68, one of the day’s best rounds.

Marino was even par for his round when he holed out a greenside bunker shot at the par three 17th that enabled him to post a one-under par 71.

Fowler could have been closer to the leaders. He made three birdies early but hurt himself when he drove in the water at the par five sixth and ended up with a double-bogey seven. But he fought back and posted a 70.

Tiger Woods started the day in position to contend but once again found his game to be erratic when he needed it to be steady. Woods was one-over for the day and did nothing inspiring until he launched a 325-yard drive at the par five sixth then hit a five-iron from 208 yards just inside 12-feet and rolled the putt in for eagle.

It was the first eagle for Woods in the United States since the final day of the 2010 Masters when he eagled the 15th hole at Augusta National.

Woods didn’t keep any momentum. He bogeyed the eighth and turned in even par 36. On the back nine he hit two balls in the water. The first at the short par four 13th that resulted in a double-bogey and the other at the 16th that gave him a bogey and he’d finish with a two-over par 74 and is one-under through 54 holes, tied for 29th.

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Auburn Hills, MI, United States (AHN Sports) – RIP in the Detroit Pistons clubhouse no longer stands for Rest In Peace.

Certainly not with Richard Hamilton.

Hamilton scored 23 points and Greg Monroe added 13 rebounds to lead the Detroit Pistons past the Indiana Pacers 100-88 Saturday night at The Palace of Auburn Hills.

Rodney Stuckey added 16 points for the Pistons.

Brandon Rush scored 19 points for Indiana, which had its lead over Charlotte drop to one game for thr eighth playoff spot.

“It was a tough loss for our club tonight,” said Pacers coach Frank Vogel. “We fought hard but we just had a poor offensive third quarter. We fought to stay in it in the fourth quarter and Villanueva came in, hadn’t played all game or last game, and he was the difference in the game.”

Hamilton scored 10 points and dished out three assists in the first half to lead the Pistons to a 48-47 halftime advantage.

Two weeks ago, it wasn’t even certain if Hamilton would see any more action for the Pistons. While listed as being out with a groin injury, there was no secret Hamilton was feuding with Pistons coach John Kuester. Any such feud, at least for now, seems to have been settled.

“You have to give Rip a lot of credit,” Kuester said. “He’s really done a wonderful job. I think one of the things you gauge a lot of what Rip’s game is all about is what he’s doing offensively. I’m more impressed with his body language defensively.”

“You have to be ready to play,” Hamilton said. “You have to stay in tune in the game and when the opportunity is there, just come out ready to play. I know what I bring to the table. I know what I’m capable of doing. I’ve had so many great years here.”

Charlie Villanueva, who has seen limited action in past games, was on the court for 12 minutes and hit all five of his shots, including three 3-pointers for 13 points.

“Charlie did a great job,” said Kuester. “He came in and gave us a big spark offensively. We went with Charlie and he delivered tonight. I thought he did a great job.”

“I just try to be ready,” Villaneuva said. “He (Kuester) called my name and I was ready to go. I was a little shocked, I expected the same amount of time as last game but at the same time, I had to be ready.”

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