Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / October 18, 2010, 3:41 pm

Crystal Cathedral files for bankruptcy

GARDEN GROVE, Calif. - Crystal Cathedral filed for bankruptcy on Monday in Southern California after months of trying to overcome mounting debt. The megachurch, birthplace of the "Hour of Power" televangelist broadcast, announced its filing as it deals ... (Source: Herald Tribune 2010-10-18T21:32:44Z)

Iran's Khamenei calls for Iraqi government formation

Iran's Supreme Leader Ayatollah Ali Khamenei called on political factions in Iraq to reach a consensus on forming a new government, state television reported Monday. Since Iraq's election in March, its leaders have been unable to agree on a new government ... (Source: msnbc.com 2010-10-18T20:42:37Z)

American visits Iran blast site under freedom deal

TEHRAN, Iran—An Iranian-American businessman freed after more than two years in Tehran's main prison visited survivors of a deadly 2008 mosque bombing as a condition of his release in a scripted event that could carry propaganda value at home. Iranian ... (Source: San Jose Mercury News 2010-10-18T12:50:10Z)

Finance ministers strike deal on new EU budget rules

Luxembourg - European Union finance ministers on Monday struck a deal to toughen the bloc's budget discipline rules but left many details of the new regime to be defined later. Tightening the EU's so-called Stability and Growth Pact was deemed urgent ... (Source: Earthtimes 2010-10-18T20:28:18Z)

Michigan State brings Illinois to earth

EAST LANSING, Mich. -- With a little more than a minute remaining, Illinois quarterback Nathan Scheelhaase was ushered off the Spartan Stadium field after linebacker Greg Jones knocked the wind out of him. There were plenty of plays to choose from Saturday ... (Source: Lexington Herald-Leader 2010-10-17T07:57:52Z)

Northeast in $4.3 Billion Stock Deal for NStar

8:31 a.m. | Updated Northeast Utilities said on Monday that it had agreed to acquire NStar for $4.3 billion in stock in a merger that would create one of the biggest power utility companies in the country. The deal is among the largest utility mergers this ... (Source: New York Times Blogs 2010-10-18T15:34:49Z)

UPDATE 1-Australia says FTA deal with China long way off

CANBERRA Oct 18 (Reuters) - China and Australia remain well apart in glacial negotiations on a free trade deal, especially in the agriculture and services sectors, a senior Australian trade official said on Monday. "They continue to be hard going. We ... (Source: Reuters 2010-10-18T07:35:12Z)

3 picks aside, Scheelhaase stays upbeat

EAST LANSING, Mich. -- Nathan Scheelhaase was tagged for three interceptions. And with 1:32 to go, he walked gingerly off the field after having the wind knocked out of him by Greg Jones , Michigan State's monster linebacker. Despite his tough day ... (Source: Chicago Sun-Times 2010-10-17T04:58:55Z)

Rio Tinto BHP scrap $120B deal as regulators balk

BHP Billiton Ltd. and Rio Tinto Group abandoned a plan to create the world's largest iron-ore exporter after regulators from Europe to Asia were concerned it would limit competition. The changes, including asset sales, demanded by regulators were ... (Source: Salt Lake Tribune 2010-10-18T21:25:34Z)

Disney restructures Marvel distribution deal

LOS ANGELES (Reuters) - Walt Disney Co on Monday said it reached a deal to pay Viacom Inc's Paramount Studios a minimum of $115 million for the distribution of two upcoming Marvel films, "Iron Man 3" and "The Avengers." The companies said Paramount will ... (Source: Reuters 2010-10-18T19:45:21Z)

Northeast Utilities and Nstar to create New England's biggest utility with $4.17 billion deal

NEW YORK (AP) — Northeast Utilities will buy Nstar for $4.17 billion, forming the biggest New England utility company with 3.5 million electric and gas customers in three states. The companies and industry analysts expect some of the savings from the ... (Source: Chicago Tribune 2010-10-18T19:31:02Z)

Machinists Reject Hawker Beechcraft Deal

Machinists employed by Hawker Beechcraft have rejected a new seven-year contract, raising questions about the company's future in Wichita. The workers voted 55 percent against the deal, which would have cut their pay by 10 percent and raised their health ... (Source: AVweb 2010-10-18T06:16:28Z)

Northeast Utilities to buy Nstar in $4.17 bln deal as it ramps up projects tied to renewables

Northeast Utilities will buy Nstar for $4.17 billion, forming one of the nation's biggest utility companies with 3.5 million electric and gas customers in three New England states. The acquisition should help Northeast pay for large transmission projects ... (Source: Los Angeles Times 2010-10-18T14:37:33Z)

UPDATE 1-Disney restructures Marvel distribution deal

LOS ANGELES, Oct 18 (Reuters) - Walt Disney Co ( DIS.N ) on Monday said it reached a deal to pay Viacom Inc's ( VIAb.N ) Paramount Studios a minimum of $115 million for the distribution of two upcoming Marvel films, "Iron Man 3" and "The Avengers." The ... (Source: Reuters 2010-10-18T19:45:21Z)

Disney restructures Marvel distribution deal to get 'Iron Man 3' and 'Avengers'

Unlike the first two "Iron Man" movies, "Iron Man 3" will be distributed under the Disney Banner. According to a release from the companies, the $115 million will serve as a minimum guarantee against the distribution fees. The eventual payout could be more ... (Source: Birmingham Business Journal 2010-10-18T20:42:37Z)

Staten Island Murder Suspect Held Without

The Staten Island man accused of murdering his parents before hopping a flight to Israel was kept in custody Monday, as hundreds of mourners paid their respects at the victims' funeral. The suspect, 30-year-old Eric Bellucci, was ordered held without ... (Source: Wall Street Journal 2010-10-18T20:35:28Z)

Hawker Beechcraft deal could keep jobs in Kan.

An agreement has been reached that could keep "the vast majority" of the Hawker Beechcraft general aviation jobs in the Wichita, Gov. Mark Parkinson said late Tuesday. Parkinson said he brokered a "long-term deal" with the company and the International ... (Source: AP - msnbc.com 2010-10-06T02:27:19Z)

Hawker gets offer to move to La.

Hawker Beechcraft and Machinists union officials will meet Tuesday with Gov. Mark Parkinson after Hawker received an offer to move all its operations to Baton Rouge, La., the union said Saturday. Hawker Beechcraft officials declined to comment. The company ... (Source: Kansas City Star 2010-10-02T23:53:24Z)

NY man arrested in Israel charged with murdering his parents in their Staten Island home

NEW YORK - A New York man arrested in Israel after his parents were found dead in their Staten Island home has been arraigned on murder charges, just hours after their funeral. Eric Bellucci looked disheveled and disoriented during his court appearance ... (Source: Minneapolis Star Tribune 2010-10-18T20:35:28Z)

Beijing allows anti-Japanese sentiment to flare in China amid massive protests

Days of heated protests in both China and Japan over the ownership of a chain of islands are fueling tensions between the old foes. It was near the disputed islands, referred to as Diaoyu in China but as Senkaku in Japan, that a Chinese fishing boat ... (Source: The Christian Science Monitor 2010-10-18T18:48:05Z)

EU debates new debt rules as euro surges

LUXEMBOURG—European finance ministers worked Monday to hash out a deal on stricter budget rules to avoid another government debt crisis, as a surging euro casts doubt on the continent's fragile economic recovery. They are considering two differing ... (Source: San Jose Mercury News 2010-10-18T12:57:20Z)

Crystal Cathedral megachurch, home of "Hour of Power," files for bankruptcy in California

GARDEN GROVE, Calif. - Crystal Cathedral has filed for bankruptcy in Southern California after months of trying to overcome mounting debt. The megachurch, birthplace of the "Hour of Power" televangelist broadcast, announced its filing Monday as it deals ... (Source: Minneapolis Star Tribune 2010-10-18T21:11:15Z)

Bankers Take Blows from Evaporated Rio Tinto-BHP Deal

How dare Rio Tinto and BHP Billiton drop plans for their $116 billion iron-ore joint venture, which the companies did over the weekend under opposition from regulators and rivals? Won't someone please think of the bankers? The scrapped deal dents the ... (Source: Wall Street Journal 2010-10-18T21:32:44Z)

$55M in debt, Crystal Cathedral seeks bankruptcy protection

It's $55 million in debt and the recession has cut deeply into contributions, so the Crystal Cathedral , the glass megachurch in Southern California, has filed for bankruptcy protection. The 7,000-member church, in Garden Grove, laid off 50 workers in ... (Source: USA Today 2010-10-18T22:08:31Z)

UPDATE 3-EU ministers reach deal on tougher budget rules

LUXEMBOURG, Oct 18 (Reuters) - European Union finance ministers agreed on Monday on how to toughen the bloc's budget rules to prevent sovereign debt crises, and said rule breakers would face sanctions only six months after being warned. The reform of the ... (Source: Reuters 2010-10-18T21:47:03Z)

Liu Xiaobo vs. China's Communist Government

When Chinese dissident Liu Xiaobo won the Nobel Peace Prize last week, the authoritarians in Beijing responded in their typical, iron-fisted fashion. The Foreign Ministry immediately called the award "blasphemy" and a "desecration," and characterized Liu ... (Source: Weekly Standard 2010-10-18T20:49:47Z)

U.S. Hikers Spend 444th Day in Prison in Iran

Fattal's brother Alex said it's a milestone the hikers and their families never expected to reach. But it's now clear they will add to it. Iranian officials tell ABC News they will face trial for spying. "It's just another heartbreaking day," Alex Fattal ... (Source: ABC News 2010-10-18T21:32:44Z)

BHP Faces Pressure to Seal Potash Deal After Rio Ore Plan Fails

Oct. 19 (Bloomberg) -- BHP Billiton Ltd. Chief Executive Officer Marius Kloppers faces greater pressure to win a hostile $40 billion bid for Potash Corp. of Saskatchewan Inc. after scrapping his second deal with Rio Tinto Group in two years. "Given you ... (Source: BusinessWeek 2010-10-18T22:22:50Z)

Staten Island Man Arraigned in Parents' Killings

AP/MYFOX - A New York man arrested in Israel after his parents were found dead in their Staten Island home has been arraigned on murder charges, just hours after their funeral. Eric Bellucci looked disheveled and disoriented during his court appearance ... (Source: myfoxny.com 2010-10-18T21:11:15Z)

Illini notes: Liuget enjoys career day vs. Spartans

EAST LANSING, Mich. — Illinois junior defensive tackle Corey Liuget lost 30 pounds in the offseason after learning bigger isn't always better, then showed off his improved mobility and endurance in a career game Saturday. Liuget finished with a career ... (Source: State Journal-Register 2010-10-17T05:56:11Z)

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