Stock futures rise after Wal-Mart beats estimates (Reuters)

A sign on the facade of a branch of Northern Rock is seen in London, Monday, Feb. 18, 2008.  The British government was to introduce emergency legislation Monday to temporarily nationalize Northern Rock PLC amid strident criticism of the move from opposition lawmakers and shareholders in the stricken mortgage lender. Trading in Northern Rock shares was suspended on the London Stock Exchange as the government made preparations to take the bank into state control after deeming that two private takeover offers did not offer the taxpayer 'sufficient value for money.'  (AP Photo/Matt Dunham)Reuters - Stock index futures pointed to a higher market open on Tuesday after Wal-Mart Stores Inc reported quarterly results that topped analysts' expectations.



Source: Yahoo! News: Business | 19 Feb 2008 | 12:36 pm

Toshiba drops out of HD DVD war

Toshiba will stop making its HD DVDs, ending a battle with rival format Blu-ray over which would be the standard.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 12:36 pm

Barclays ups writedown to $3.1 billion (Reuters)

Reuters - Barclays Plc , Britain's third-biggest bank, raised its 2007 writedown on the value of risky assets to 1.6 billion pounds ($3.1 billion) but reported profits broadly in line with analysts' expectations.
Source: Yahoo! News: Business | 19 Feb 2008 | 12:33 pm

Wal-Mart cautious about outlook

Retail behemoth Wal-Mart reported a rise in quarterly profit Tuesday, but offered a cautious outlook for the coming year.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 12:32 pm

Chief of troubled bond insurer is out

MBIA Inc.'s Chairman and Chief Executive Gary C. Dunton announced his resignation, the company said Tuesday, at a time when the fate of the bond insurer remains a big question mark.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 12:32 pm

CNN.com: Castro resigns as Cuba's president


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 12:31 pm

Medtronic quarterly net falls

CHICAGO (Reuters) - Medical device maker Medtronic Inc on Tuesday said quarterly earnings fell on charges related to the acquisition of Kyphon.


Source: Reuters: Business News | 19 Feb 2008 | 12:31 pm

Toshiba to quit HD DVDs, ends format war

TOKYO (Reuters) - Japan's Toshiba Corp surrendered in the high-definition home movie war on Tuesday, giving up on its HD DVD format after losing the support of key studios and retailers to the Blu-ray technology backed by Sony Corp .


Source: Reuters: Business News | 19 Feb 2008 | 12:28 pm

OfficeMax profit climbs as expenses fall (Reuters)

Reuters - OfficeMax Inc , the nation's third-largest office supplies retailer, posted a higher quarterly profit on Tuesday, helped by lower expenses and improved margins.
Source: Yahoo! News: Business | 19 Feb 2008 | 12:24 pm

McCain's econ brain

Now that the faltering economy has replaced national security as the overriding issue in the presidential campaign, John McCain is portraying himself as a budget-shrinking, flat-tax-embracing, healthcare-privatizing champion of free markets. But is this Reaganesque zealot the real John McCain?


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 12:22 pm

Delta, Northwest pilots reach deal to unite - report

Leaders of the union representing pilots at Northwest Airlines Corp. and Delta Air Lines Inc. have reached an agreement on uniting membership under a merged carrier, the Detroit News reported Tuesday.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 12:18 pm

OPEC unlikely to cut oil output: sources

LONDON/DUBAI (Reuters) - OPEC is unlikely to cut oil output at a meeting in March due to rising prices and uncertainty about supply from Venezuela and Nigeria, OPEC sources said on Tuesday.


Source: Reuters: Business News | 19 Feb 2008 | 12:17 pm

Domino's delivers as crunch hits rivals

Domino’s Pizza today said it was cashing in as consumers, worried about falling house prices, cut back on eating out at in restaurants.
Source: Latest Business News from Times Online | 19 Feb 2008 | 12:17 pm

Credit Suisse traders suspended

Credit Suisse suspends traders suspected of inflating the value of mortgage-backed bond investments.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 12:14 pm

Serbs burn Kosovo border crossing

Troops of the Nato-led peacekeeping force KFOR were sent to Kosovo's northern border after Serbs opposed to Kosovo's newly declared independence burned down a border crossing.
Source: FT.com - US homepage | 19 Feb 2008 | 12:04 pm

Toshiba hands Sony victory in high definition DVD fight

Sony’s Blu-ray technology was crowned winner in the multi-billion pound war between next-generation DVD formats today after Toshiba pulled out of the race.
Source: Latest Business News from Times Online | 19 Feb 2008 | 12:02 pm

Stocks ready to roll

U.S. stocks were poised for a higher start Tuesday after the holiday break, as investors were buoyed by strong quarterly results from retailing giant Wal-Mart.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 12:02 pm

Wal-Mart's outlook is on the soft side; quarterly profit's up 4%

LONDON (MarketWatch) -- Wal-Mart Stores Inc.'s fourth-quarter profit rose 4%, driven by price cuts, the retailing behemoth said Tuesday.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 12:02 pm

Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies are saying about future quarters.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 12:01 pm

Wal-Mart posts better-than-expected profit (Reuters)

A man reaching for a shopping cart outside a Wal-Mart store. Top US retailer Wal-Mart on Friday drove another nail a coffin for Toshiba's HD DVD video disks by announcing it would shift to exclusively selling Japanese rival Sony's format Blu-ray.(AFP/Getty Images/File/Tim Boyle)Reuters - Wal-Mart Stores Inc on Tuesday posted a better-than-expected quarterly profit after penny-pinching U.S. shoppers scoured its discount stores for low prices on necessities like food and laundry detergent.



Source: Yahoo! News: Business | 19 Feb 2008 | 12:00 pm

Wal-Mart posts better-than-expected profit

NEW YORK (Reuters) - Wal-Mart Stores Inc on Tuesday posted a better-than-expected quarterly profit after penny-pinching U.S. shoppers scoured its discount stores for low prices on necessities like food and laundry detergent.


Source: Reuters: Business News | 19 Feb 2008 | 12:00 pm

Sony triumphs over Toshiba in DVD battle

Sony has triumphed in the race to dominate the high-definition DVD market after rival Toshiba confirmed it is pulling out of the market today.
Source: Telegraph Business | 19 Feb 2008 | 12:00 pm

U.S. stock futures climb after three-day break

U.S. stock futures on Tuesday pointed to opening gains after a three-day break, with traders looking past a surge in oil futures and an earnings outlook for Wal-Mart Stores below analyst forecasts.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 11:51 am

Credit Suisse plunges on $2.85bn mark-down

The Swiss bank, until now practically unblemished by the subprime crisis, marked down the value of asset-backed investments by $2.85bn, wiping $1bn from its net income
Source: FT.com - US homepage | 19 Feb 2008 | 11:47 am

Bill Gates: Microsoft not raising Yahoo bid

Bill Gates says Microsoft isn't negotiating higher buyout offer with Yahoo.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 11:40 am

Weak financials sour sentiment toward European stocks

European shares dropped on Tuesday morning, as an unexpected $2.85 billion write-down from Swiss bank Credit Suisse soured sentiment toward financials and kept a lid on gains.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 11:34 am

Oil nears $98 on supply worries, OPEC

LONDON (Reuters) - Oil rose on Tuesday to the highest level in a month, near $98 a barrel, driven by expectations that supplies will be tight.


Source: Reuters: Business News | 19 Feb 2008 | 11:24 am

Barclays profits slip to £7.08bn

Barclays sees annual profits drop to £7.08bn, including a net loss of £1.6bn stemming from global credit turbulence.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 11:24 am

Barclays contains sub-prime damage

Barclays has reassured the market that it has so far managed to contain the sub-prime fall out after raising total writedowns related to the credit crunch by just £300m to £1.64bn and reporting profits in line with forecasts.
Source: Telegraph Business | 19 Feb 2008 | 11:20 am

Credit Suisse reveals $2.85 billion write-downs (Reuters)

Reuters - Credit Suisse has written $2.85 billion off the value of its asset-backed investments and found mismarking and pricing errors on its books, it revealed on Tuesday, sending its shares plummeting.
Source: Yahoo! News: Business | 19 Feb 2008 | 11:16 am

Credit Suisse cuts value of assets by $2.9B

Read full story for latest details.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 11:15 am

Credit Suisse plunges on $2.85bn writedown

Credit Suisse delivered a fresh blow to confidence in the banking sector on Tuesday with the revelation on $2.85bn of losses on structured credit positions caused by "pricing errors" by some of the Swiss...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 11:11 am

China's inflation hits 11-year high

Read full story for latest details.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 11:10 am

Brewer S&N warns of price rises

UK brewer Scottish & Newcastle, warns of "substantial price increases" to offset rising costs.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 11:03 am

Dollar sinks on China rate-hike expectations

The dollar remains under pressure in European trading, dogged by worries about the credit crisis and ideas China may soon lift interest rates.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 11:03 am

InterContinental Hotels books a £237m profit

InterContinental Hotels Group (IHG), the world's biggest hotel group, reported an 18 per cent rise in full-year operating profit to £237 million last year but predicted an uncertain outlook for the sector in 2008.
Source: Latest Business News from Times Online | 19 Feb 2008 | 10:53 am

Banks "quietly" borrow $50 billion from Fed: report (Reuters)

Reuters - Banks in the United States have been quietly borrowing "massive amounts" from the U.S. Federal Reserve in recent weeks, using a new measure the Fed introduced two months ago to help ease the credit crunch, according to a report on the web site of The Financial Times.
Source: Yahoo! News: Business | 19 Feb 2008 | 10:47 am

Banks "quietly" borrow $50 billion from Fed: report

NEW YORK (Reuters) - Banks in the United States have been quietly borrowing "massive amounts" from the U.S. Federal Reserve in recent weeks, using a new measure the Fed introduced two months ago to help ease the credit crunch, according to a report on the web site of The Financial Times.


Source: Reuters: Business News | 19 Feb 2008 | 10:47 am

Wall Street futures rise; financials seen in focus

FRANKFURT (Reuters) - Stock index futures rose before the start of Wall Street trading on Tuesday, with financial stocks likely to be in focus after news of further write-downs on risky assets at two big European banks.


Source: Reuters: Business News | 19 Feb 2008 | 10:46 am

Wall Street futures rise; financials seen in focus

FRANKFURT (Reuters) - Stock index futures rose before the start of Wall Street trading on Tuesday, with financial stocks likely to be in focus after news of further write-downs on risky...
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 10:46 am

Most Americans unprepared for retirement

A majority of American workers will not be able to maintain their current standard of living after they retire, according to a report released Tuesday.


Source: Business and financial news - CNNMoney.com | 19 Feb 2008 | 10:43 am

Boeing faces customer ire for 787 delays

SINGAPORE (Reuters) - Boeing Co is facing growing anger from its biggest customers for delays in its new 787 Dreamliner, but still unveiled more than $6 billion in orders for other planes...
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 10:38 am

Confectionery group Cadbury says profits melted in 2007

Cadbury Schweppes, the world's biggest maker of sweets and chocolate, said on Tuesday that net profits plunged by 65 percent last year when results were skewed by the 2006 sale of its...
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 10:35 am

Bank worries contine to dog FTSE

The FTSE 100 lost ground on Tuesday as news of shock writedowns at Credit Suisse overshadowed reassuring figures from Barclays. The UK's third largest lender fell 2.9 per cent to 446p despite reporting...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 10:35 am

Cadbury's annual profit down 65%; sees margin improvement in 08

British confectioner and beverage group Cadbury Schweppes Plc on Tuesday reported annual profit fell 65% from a year earlier, when the sale of a unit flattered the bottom line, but the company noted it expects margins to improve in 2008.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 10:33 am

Chinese inflation hits 11 year high

China’s rate of inflation hit its highest level in 11 years last month as a freezing cold winter destroyed crops and pushed up food prices.
Source: Latest Business News from Times Online | 19 Feb 2008 | 10:30 am

Barclays profit slips 3% as write-downs rise to $3.2 bln

U.K. banking group Barclays announces a 3% drop in 2007 net profit, largely matching market expectations, as a relatively small increase in write-downs and tight cost controls helps balance a weaker result from international banking.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 10:10 am

Credit Suisse writes down $2.85 bln after pricing errors

Shares in Credit Suisse Group tumbled on Tuesday after the Swiss bank said, only a week after reporting earnings, that it overvalued asset-backed securities by at least $2.85 billion.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 10:09 am

Energy and banking stocks lift Asia

Asian equities advanced across the board on Tuesday, riding on the back of gains in energy-related companies and banking stocks while a weaker yen gave investors the chance to buy up exporting shares...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 10:07 am

China's inflation rate jumps 7.1% in January, an 11-year high

China’s inflation rate climbed its highest level in more than 11 years in January, raising concerns that the government might further tighten credit to prevent an inflationary spiral.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 10:05 am

Banking sector turnaround weighs on British stocks

Banking stocks gave back some gains in London on Tuesday morning, as investors eyed in–line earnings from Barclays and an unexpected asset write-down from Credit Suisse.


Source: MarketWatch.com - Top Stories | 19 Feb 2008 | 9:59 am

Cadbury shares slump on failure to return cash

Cadbury Schweppes has told its shareholders this morning that they will not receive a penny when it splits its confectionery and soft drinks business later this year.
Source: Telegraph Business | 19 Feb 2008 | 9:50 am

InterContinental says profits dived 43 percent in 2007

Britain's InterContinental Hotels Group on Tuesday said that net profit almost halved last year to 231 million pounds (306 million euros, 450 million dollars). The 43 percent
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 9:33 am

China's inflation rate soars to highest in over 11 years: govt

China's inflation rate soared to its highest level in over 11 years in January as the coldest winter in decades sabotaged long-running efforts to tame rising prices, official data showed...
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 9:32 am

Cadbury plans to increase prices

Dairy Milk-maker Cadbury Schweppes says it plans to increase prices to offset rising raw material costs.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 9:31 am

Indonesia's Lion Air orders 56 Boeings

Indonesian budget carrier Lion Air has ordered 56 Boeing 737-900ERs valued at more than 4.4 billion dollars, the two companies announced Tuesday at the Singapore Airshow. The
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 9:30 am

Martha Stewart to buy TV chef's media properties: report

NEW YORK (Reuters) - Martha Stewart Living Omnimedia Inc is to acquire the media and licensed properties of TV chef Emeril Lagasse for around $50 million in cash and stock, the Wall Street
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 9:28 am

Credit Suisse leads European stocks lower

Credit Suisse led European equity markets lower on Tuesday after writing down the value of asset-backed investments by $2.85bn, sending a further jolt through the financial services sectors. The Swiss...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 9:26 am

Barclays says profits fell in 2007 due to credit crunch

Barclays, Britain's third biggest bank, said Tuesday that net profits sank by about 3.0 percent last year owing to the US subprime housing crisis and related global squeeze on credit.
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 9:25 am

Pliant Technology Receives $8 Million in Series A Funding to Develop New Class of Enterprise Solid State Storage Devices


Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 9:20 am

Cadbury misses analysts' forecasts

Cadbury Schweppes announced increased revenues in its confectionery business on Tuesday, driven by gum and gorillas, but full-year pre-tax profits failed to reach analysts' expectations. In a statement...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 9:19 am

Musharraf allies concede defeat

Pakistan's Pervez Musharraf looked set to become a lame duck president after voters gave resounding support to opposition parties in parliamentary elections
Source: FT.com - US homepage | 19 Feb 2008 | 9:11 am

Chinese inflation surge adds to rates pressure

China's headline inflation rate continued to rise last month to an 11-year record of 7.1pc, putting more pressure on export prices as well as on the government's macroeconomic managers.
Source: Telegraph Business | 19 Feb 2008 | 9:10 am

Cuba's leader Fidel Castro retires

Ailing President Fidel Castro said that he will not return to lead the country, retiring as head of state 49 years after he seized power in an armed revolution
Source: FT.com - US homepage | 19 Feb 2008 | 9:09 am

Rock bill going before Parliament

The bill to nationalise Northern Rock is to be debated in the Commons, with the Tories set to vote against it.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 9:03 am

Barclays' chief hails 'resilient' performance

Barclays on Tuesday reported pre-tax profits of more than 7bn as John Varley, chief executive, hailed "a resilient performance in testing market conditions". Barclays is the first of the UK's large...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 9:03 am

Banks lead FTSE lower (FT.com)

FT.com - London equities fell on Tuesday after news of increased full-year writedowns at Barclays (NYSE:BCS) took the shine off banking stocks. There was further pressure in the sector after surprise news of fresh $2.85bn losses at Credit Suisse (NYSE:CS).
Source: Yahoo! News: Business | 19 Feb 2008 | 9:00 am

What is the Tories solution to Northern Rock?

Northern Rock is now history and should be treated as such. There will be court cases to hold for the share holders, but in truth they can hardly claim that they were not warned.
Source: Telegraph Business | 19 Feb 2008 | 9:00 am

Cadbury Schweppes scraps drinks demerger payout

Cadbury Schweppes, under pressure from US corporate raider Nelson Peltz to improve performance, disappointed investors this morning saying there would be no bonus payout to shareholders from the demerger of its US drinks business, Dr Pepper Snapple Group.
Source: Latest Business News from Times Online | 19 Feb 2008 | 8:58 am

Banks lead FTSE lower

London equities fell on Tuesday after news of increased full-year writedowns at Barclays took the shine off banking stocks. There was further pressure in the sector after surprise news of fresh $2.85bn...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 8:57 am

GE to adjust accounting to end regulator probe: report

NEW YORK (Reuters) - U.S. conglomerate General Electric Co is expected to make changes to its accounting policies in a bid to end a U.S. Securities and Exchange Commission probe,...
Source: Infocious RSS raw feed - channel BNewsBusiness | 19 Feb 2008 | 8:54 am

GE to adjust accounting to end regulator probe: report

NEW YORK (Reuters) - U.S. conglomerate General Electric Co is expected to make changes to its accounting policies in a bid to end a U.S. Securities and Exchange Commission probe, the Wall Street Journal reported on Tuesday citing people familiar with the situation.


Source: Reuters: Business News | 19 Feb 2008 | 8:54 am

Credit Suisse takes $1bn hit after trader errors$

Credit Suisse today suspended a group of traders allegedly responsible for a $2.85 billion ($£1.45 billion) write-down that will wipe at least $1 billion off the Swiss bank's profit in the first quarter and potentially alter its results for 2007.$
Source: Latest Business News from Times Online | 19 Feb 2008 | 8:53 am

Barclays lifts dividend to sweeten sour profits

Barclays today reported almost flat pre-tax profits of £7 billion for the 12 months to December 31, down 1 per cent on last year but raised its dividend by 10 per cent, from 31p to 34p. The bank's £1.6 billion writedown on credit market exposure was less severe than expected.
Source: Latest Business News from Times Online | 19 Feb 2008 | 8:06 am

Promises to Iraqi widows go unmet

The central government is sporadic with pension payments to the ever-increasing number of women who have lost their husbands. Without the money, these women are stranded in a patriarchal society. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 8:00 am

State casts a wary eye on deregulation

A Supreme Court case and a pending PUC decision revive -- and may heal -- memories of the 2000-01 crisis.

California 's energy crisis ended seven years ago, but electricity customers are still paying for it, lawyers are arguing over it and regulators are reigniting debate over the policies that led up to it.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Laid off? Share the pain

The Web is now a place to seek sympathy and a new start

When Ryan Kuder lost his job last week, everyone knew it. That's because he chronicled the experience of his last hours at Yahoo Inc. through a stream of electronic dispatches laced with gallows humor.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Hershey puts faith in Bliss to recapture market share

Investors watch to see if the new premium chocolate can help the firm gain ground in the 'indulgent' segment.

After months of turmoil, chocolate maker Hershey Co. is pinning its hopes on Bliss.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

A sinking feeling for the dollar in China

On a frigid winter afternoon, an old dumpling of a man with buzz-cut hair was holed up in his usual spot, the corner of a busy bank lobby here. He reached into his beige fisherman's vest, pulled out a...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 8:00 am

Promises to Iraqi widows go unmet

The central government is sporadic with pension payments to the ever-increasing number of women who have lost their husbands. Without the money, these women are stranded in a patriarchal society.

The rumor had swept through this border town early in the morning, and soon several dozen women were clamoring outside a small government office.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Price of platinum jumps again

Platinum soared past $2,100 an ounce Monday as a power crisis and accidents at mines and smelters continued to curb output in South Africa, the nation that produces the largest amounts of the precious metal.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

European, Latin shares advance

Asian indexes are mixed as U.S. stock traders take a holiday.

European stock markets ended broadly higher Monday, continuing their back-and-forth pattern of recent weeks, as depressed banking issues attracted buyers.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Toy group approves safety plan

The testing system would include stricter procedures during the design and the manufacturing phases.

The U.S. Toy Industry Assn., whose members include Mattel Inc. and Hasbro Inc., said Monday that its board unanimously approved a plan for a new testing system after the recall of tens of millions of Chinese-made toys last year.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

A sinking feeling for the dollar in China

On a frigid winter afternoon, an old dumpling of a man with buzz-cut hair was holed up in his usual spot, the corner of a busy bank lobby here. He reached into his beige fisherman's vest, pulled out a wad of bills and turned to the people hovering over him waiting to trade currency.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Loans go bad as British housing bubble pops

When Shirley Hale's husband dumped her for a younger woman and moved to the Czech Republic, Hale didn't get mad. She got a new house.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Criticism puts auction site Bidz.com under microscope

Bidding patterns, customer complaints raise concern

A few weeks ago, the chairman of online auction site Bidz.com forecast good news ahead. The company was headed for another blowout quarter, David Zinberg said, with sales topping the already-rosy projections made in November.


Source: L.A. Times - Business | 19 Feb 2008 | 8:00 am

Toy group approves safety plan

The testing system would include stricter procedures during the design and the manufacturing phases. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 Feb 2008 | 8:00 am

Barclays lifts dividend despite profits drop

Barclays has suffered an xxxpc drop in annual profits after the credit crisis forced the bank to writedown £xxxbn in assets.
Source: Telegraph Business | 19 Feb 2008 | 7:10 am

China inflation hits 11-year high

Chinese consumer inflation reached 7.1% in January, the highest rate for 11 years, official figures show.
Source: BBC News | Business | World Edition | 19 Feb 2008 | 6:55 am

NZ dollar rises to seven-month high

The New Zealand dollar was nudging US80c today as it climbed to a seven-month high. It peaked at US79.87c against the greenback in thin global trading with US markets on holiday as carry trades came back into favour. It closed...
Source: New Zealand Herald - Business | 19 Feb 2008 | 5:46 am

Gates woos schools with free software

Microsoft is to give away some of its core software to university and high school students around the world in an effort to win over the next generation of software developers to its technology
Source: FT.com - US homepage | 19 Feb 2008 | 4:59 am

Grapegrowers looking forward to record vintage

The 2008 New Zealand grape harvest under way is expected to produce a high-quality record-volume crop of between 225,000 and 245,000 tonnes. New Zealand Winegrowers chief executive officer Philip Gregan said the increased vintage...
Source: New Zealand Herald - Business | 19 Feb 2008 | 3:45 am

$24 million airport project for Rotorua

Work on extending the runway at Rotorua Airport is proposed to start in October but questions remain over how it will be funded. Rotorua mayor Kevin Winters has said he doesn't want ratepayers paying but some Rotorua District councillors...
Source: New Zealand Herald - Business | 19 Feb 2008 | 3:30 am

NZ businesses becoming slow payers - survey

A new survey shows that as the economy has slowed bills are being paid more slowly, with government organisations the worst offenders. Dun & Bradstreet said its December quarter trade payments analysis showed the average payment...
Source: New Zealand Herald - Business | 19 Feb 2008 | 2:30 am

Airlines face tough times amid slowdown (AP)

AP - Improved efficiency has helped airlines better prepare for a possible global economic slowdown compared to the last major recession, but expensive fuel continues to hurt bottom lines, an airline industry group said Monday.
Source: Yahoo! News: Business | 19 Feb 2008 | 12:39 am

Buoyant year for CDL Investments

Property development company CDL Investments has reported an annual net profit after tax up 38.9 per cent to $15.1 million. Chairman Wong Hong Ren said the result reflected the high quality and spread of CDL's product, the strength...
Source: New Zealand Herald - Business | 19 Feb 2008 | 12:30 am

Obama seeks Ohio's blue-collar vote

Barack Obama made an aggressive pitch at Ohio's blue-collar workers by proposing a 'Patriot Employers' plan that would lower corporate taxes for companies that did not ship jobs overseas
Source: FT.com - US homepage | 19 Feb 2008 | 12:11 am

Cruddas' appointments bolster CMC board

Peter Cruddas, the City of London's richest man, has appointed two new directors to the board of CMC Markets, the financial spread-betting business in which he controls a majority stake.
Source: Telegraph Business | 19 Feb 2008 | 12:01 am

Northern Rock deal could cost us each £3,500

The cost of the Northern Rock crisis has reached the equivalent of £3,500 for every taxpayer as experts warned that the nationalisation rescue of the bank was bound to fail.
Source: Telegraph Business | 19 Feb 2008 | 12:01 am

An appearance from beyond the political grave

IS Alistair Darling actually dead? This was the disquieting question which arose when he appeared beside Gordon Brown at the Prime Minister's press conference.
Source: Telegraph Business | 19 Feb 2008 | 12:01 am

Life expectancy may raise pension liabilities

Pension liabilities for UK employers are set to rise under new mortality guidelines proposed by the Pension Regulator.
Source: Telegraph Business | 19 Feb 2008 | 12:01 am

Billionaire Joe Lewis quietly builds stake in Ladbrokes

Joe Lewis, the Bahamas-based British billionaire, is the mystery buyer behind a near-7 per cent stake in Ladbrokes, the UK's biggest bookmaker, The Times has learnt.
Source: Latest Business News from Times Online | 19 Feb 2008 | 12:00 am

Speedy Hire has tools to make up for poor timing

The most closely scrutinised number in yesterday's brief third-quarter trading update from Speedy Hire did not come until the fifth paragraph.
Source: Latest Business News from Times Online | 19 Feb 2008 | 12:00 am

Bank role casts Government as heartless debt collectors

By nationalising Northern Rock, Gordon Brown and Alistair Darling are indirectly setting themselves up in one of the most reviled and thankless of occupations - as debt collectors.
Source: Latest Business News from Times Online | 19 Feb 2008 | 12:00 am

Banks 'Quietly' Borrow Billions from Fed: FT


Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Research In Motion, Motorola Duel in Lawsuits

BlackBerry-maker Research In Motion and rival Motorola have sued each other over what they say are patent infringements for technology used in their mobile phones.

Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Barclays Raises Writedowns, CEO Optimistic

Barclays raised the value to its 2007 writedowns to 1.6 billion pounds ($3.1 billion), but its profit was in line with expectations and the risks are under control, Barclays President Bob Diamond told CNBC Europe on Tuesday.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Castro Stepping Down as Cuba's Leader

Ailing Cuban leader Fidel Castro said on Tuesday that he will not return to lead the country, retiring as head of state 49 years after he seized power in an armed revolution.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Former Chief Executive Jay Brown Returns to MBIA

MBIA said on Tuesday that former Chief Executive Jay Brown was returning to the company to replace the current CEO, Gary Dunton, as the bond insurer grapples with an industrywide crisis.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Wal-Mart Profit Rises, Says Customers Cautious

Wal-Mart on Tuesday posted a better-than-expected quarterly profit after penny-pinching U.S. shoppers scoured its discount stores for low prices on necessities like food and laundry detergent.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Toshiba Quits HD DVD, Surrenders in Format War

Japan's Toshiba waved the white flag in the home movie war, giving up on its HD DVD format after losing the support of key studios and retailers to  Blu-ray technology backed by Sony.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Microsoft to Invest in Web with Yahoo or Not: Gates

Microsoft plans to invest heavily in Web search to compete against Google, even if it fails to acquire Yahoo, the company's chairman Bill Gates said on Monday.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Credit Suisse Writes Down Further $2.85 Billion

Credit Suisse has written $2.85 billion off the value of its asset-backed investments and found mismarking and pricing errors on its books, it revealed on Tuesday, sending its shares plummeting.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

ILFC Seeks Compensation for Boeing Delays

The world's top plane leasing firm International Lease Finance Corp will seek compensation from Boeing for delays in the delivery of the 787 Dreamliner, and is in talks to buy over 100 planes each from both Airbus and Boeing, its chief executive said on Tuesday.
Source: CNBC Top News and Analysis | 19 Feb 2008 | 12:00 am

Cullen confirms tax cuts despite surplus fall

Finance Minister Michael Cullen says he is keeping a close eye on inflation and economic conditions, but there will be a tax cuts programme in the budget. The Government's headline operating surplus came in $1.7 billion lower than...
Source: New Zealand Herald - Business | 18 Feb 2008 | 11:00 pm

The Joneses urgently needed sharemaket cash - report (+video)

A report into the financial affairs of The Joneses showed the business was in a bad way and "urgently" needed money from sharemarket investors. WHK Corporate Finance, independent advisers on the allotment of securities, questioned...
Source: New Zealand Herald - Business | 18 Feb 2008 | 10:55 pm

APN profit up 8 per cent

New Zealand Herald publisher APN News and Media Ltd today reported an 8 per cent rise in annual net profit on the back of growth in its key markets. The benefits of significant levels of restructuring across all APN would flow...
Source: New Zealand Herald - Business | 18 Feb 2008 | 10:50 pm

NZ sharemarket rally runs out of steam

Yesterday's strong sharemarket rally ran out of steam in early trading today. The benchmark NZSX-50 index, which gained an impressive 2.5 per cent or 90.97 points yesterday, was down 0.45 of a point to 3601.3 by 10.20am. The...
Source: New Zealand Herald - Business | 18 Feb 2008 | 10:45 pm

Tea prices set to soar

Tea prices are likely to jump to an all-time high this year, underpinned by production disruptions in Kenya, the United Nations' Food and Agriculture Organisation will forecast
Source: FT.com - US homepage | 18 Feb 2008 | 10:09 pm

US army 'stretched thin' by Iraq war

The Iraq war has strained the US military to the extent that America could not fight another large-scale war today, according to a new survey of military officers
Source: FT.com - US homepage | 18 Feb 2008 | 10:09 pm

Troubled Ambac keen to split

Ambac the bond insurer, is seeking to raise capital to support a split of its operations in an attempt to avoid a sharp cut in its credit rating
Source: FT.com - US homepage | 18 Feb 2008 | 9:09 pm

Aussies giving up on home ownership dream

Housing affordability has sunk so low that the majority of Australians who have yet to take out a mortgage expect that they may never purchase a home, new figures show. And many of those with a mortgage are finding it difficult...
Source: New Zealand Herald - Business | 18 Feb 2008 | 9:00 pm

All the president's whiskey

Turns out our first president wasn't the teetotaler some revisionists have made him out to be. In fact, George Washington was once the nation's largest producer of whiskey. Hillary Wicai reports from a rebuilt version of his distillery.
Source: Marketplace | 18 Feb 2008 | 8:37 pm

Lying is essential to doing business

Financial Times columnist Lucy Kellaway says she's OK with lying on the job. In fact, she believes the corporate world can't function without little white lies to get through the day.
Source: Marketplace | 18 Feb 2008 | 8:35 pm

US banks borrow $50bn via new Fed facility

US banks have been quietly borrowing massive amounts of money from the Federal Reserve by using a new measure the Fed introduced two months ago to help ease the credit crunch
Source: FT.com - US homepage | 18 Feb 2008 | 8:34 pm

Dental spas give some a reason to smile

Cosmetic dentistry offers many ways for you to put your money where your mouth is. And some dentists are already plotting the next big thing to attract you to their chairs. Ashley Milne-Tyte reports.
Source: Marketplace | 18 Feb 2008 | 8:23 pm

Deutsche Post appoints new boss

Frank Appel is appointed Deutsche Post chief executive after his predecessor resigned amid a tax evasion scandal.
Source: BBC News | Business | World Edition | 18 Feb 2008 | 8:22 pm

Mustaches for charity, not just irony

Twenty-somethings have one of the lowest rates of charitable giving of any demographic group. Alex Goldmark reports on a New York City charity that's using facial hair to make fundraising hip for younger people.
Source: Marketplace | 18 Feb 2008 | 8:19 pm

We can no longer afford the penny

Commentator and international economist Dan Drezner says inflation and high zinc and copper prices have made the penny too expensive for the U.S. to produce.
Source: Marketplace | 18 Feb 2008 | 6:53 pm

A day to spend dead presidents?

President's Day is time to honor American leaders, and many of us traditionally do that by going shopping. Bob Moon talks to NPD Group's Marshall Cohen to find out how profitable the holiday actually is.
Source: Marketplace | 18 Feb 2008 | 6:53 pm

HD DVD raising white flag

With Toshiba looking ready to abandon the HD DVD format, Blue Ray seems to have finally won the high-definition DVD wars. Bob Moon reports on what retail stores are doing with their HD DVD inventory.
Source: Marketplace | 18 Feb 2008 | 6:53 pm

Today's lunch special: recalled beef

Westland Meat Company is recalling 147 million pounds of beef -- the biggest beef recall in U.S. history -- much of which was to go to school lunch programs. John Dimsdale reports on how the recall will affect future demand.
Source: Marketplace | 18 Feb 2008 | 6:44 pm

Nigeria phone privatisation off

Nigeria's government cancels another sale of a state firm carried out under former President Obasanjo.
Source: BBC News | Business | World Edition | 18 Feb 2008 | 4:28 pm

US orders massive recall of beef

The US government orders its largest recall of beef, saying a meat plant broke rules on cattle inspection.
Source: BBC News | Business | World Edition | 18 Feb 2008 | 3:30 pm

SmartMoney Magazine: The Cultivated Closet

We peek into a few of America's closets to see how far they've come.


Source: SmartMoney.com | 18 Feb 2008 | 12:23 pm