LONDON (Reuters) - Oil retreated on Wednesday, a day after hitting a record high above $100 a barrel, as investors focused on a U.S. inventory report expected to show crude stockpiles rose for a sixth week.
Source:
Reuters: Business News | 20 Feb 2008 | 12:22 pm
Read full story for latest details.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 12:20 pm
U.S. stocks looked set for a rough open Wednesday after fresh fears in the credit markets, along with high oil pricees, rattled investors ahead of the release of a key inflation report.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 12:13 pm
Dutch brewer Heineken warns that beer prices will rise to offset higher costs as it reports a fall in profits.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 12:06 pm
Alliance & Leicester shares collapsed 12pc this morning on warning that profits will shrink this year as it scales back mortgage lending and absorbs a £150m increase in funding costs.
Source:
Telegraph Business | 20 Feb 2008 | 12:05 pm
The dollar takes on a positive tone, with markets eyeing key U.S. inflation data and minutes of the Federal Reserve's last policy meeting for clues on the path of the world's largest economy.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 12:03 pm
CHICAGO (MarketWatch) -- Mortgage applications filed last week dropped a seasonally adjusted 22.6% from the previous week, as interest rates on fixed-rate mortgages increased, the Mortgage Bankers Association reported Wednesday.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 12:00 pm
LONDON (Reuters) - Wall Street is expected to extend losses on Wednesday, in a quiet corporate agenda, with investors eyeing inflation data for clues on how much room central banks have to cut interest rates to help an ailing global economy.
Source:
Reuters: Business News | 20 Feb 2008 | 11:59 am
Reuters - Standard Chartered on Wednesday dropped
initial rescue plans for its $7 billion Whistlejacket
structured investment vehicle which was forced into
receivership last week, drawing criticism from analysts.
Source:
Yahoo! News: Business | 20 Feb 2008 | 11:54 am
LONDON (Reuters) - Standard Chartered on Wednesday dropped initial rescue plans for its $7 billion Whistlejacket structured investment vehicle which was forced into receivership last week, drawing criticism from analysts.
Source:
Reuters: Business News | 20 Feb 2008 | 11:54 am
BNP Paribas sets out an ambitious growth plan for the next three years, including a target of doubling its revenue from emerging markets, as the economies of more developed markets slow down.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 11:50 am
The Bank of England voted 8-1 to lower interest rates in February to 5.25%, minutes from the meeting show.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 11:49 am
Microsoft hires a law firm that specialises in proxy battles in a move that suggests it could try to oust the Yahoo board.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 11:47 am
Read full story for latest details.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 11:47 am
The Bank of England's rate-setting Monetary Policy Committee voted 8-1 at its meeting earlier this month to cut the central bank's key lending rate by a quarter of a percentage point, to 5.25%, with the lone holdout calling for a more aggressive half-point reduction, according to meeting minutes. David Blanchflower, one of four "external" MPC members, argued instead for reducing the rate to 5% as a means of staving off a potentially sharp economic slowdown, the minutes revealed Wednesday showed.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 11:32 am
A listed arm of private equity firm Kohlberg Kravis Roberts & Co. has delayed repayment of billions of dollars in debt amid continuing turmoil in the credit markets.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 11:31 am
A roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 11:31 am
MUMBAI (Reuters) - Wal-Mart Stores Inc said on Wednesday it would increase technology activities in India, as it seeks to expand its remote sourcing model.
Source:
Reuters: Business News | 20 Feb 2008 | 11:31 am
Sen. Barack Obama kept his primary streak alive with a ninth consecutive win in Wisconsin Tuesday, capturing a double-digit victory over Sen. Hillary Clinton in the race for the Democratic presidential nomination.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 11:15 am
Read full story for latest details.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 11:12 am
A Bank of England policymaker voted for a half percentage point cut in interest rates at this month's meeting for the first time in almost seven years.
Source:
Telegraph Business | 20 Feb 2008 | 11:00 am
An affiliate of private equity giant KKR delays repayments on debt related to the ailing US housing market.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 10:59 am
For months, we've fretted about the Armageddon that will hit when subprime adjustable rate mortgages start resetting to much higher interest rates.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 10:59 am
Alliance & Leicester reports a 30% fall in annual profits following the recent credit market turmoil.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 10:58 am
European aircraft maker Airbus expects new orders to halve to 700 this year after some heavy orders and as the global economy slows.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 10:55 am
Reuters - Dutch financial services group ING took
a lower-than-expected impairment charge of 194 million euros
($286 million) on riskier investments in its fourth-quarter
results on Wednesday, while a stake sale helped offset the
loss.
Source:
Yahoo! News: Business | 20 Feb 2008 | 10:54 am
LONDON (Reuters) - Dutch financial services group ING took a lower-than-expected impairment charge of 194 million euros ($286 million) on riskier investments in its fourth-quarter results on Wednesday, while a stake sale helped offset the loss.
Source:
Reuters: Business News | 20 Feb 2008 | 10:54 am
LONDON (MarketWatch) - U.S. stock futures edged lower Wednesday ahead of a key report in inflation and minutes from the last Federal Reserve meeting, offsetting a better-than-expected outlook from computer giant Hewlett-Packard and oil futures reversing from the $100 a barrel threshold.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 10:53 am
The street has never much cared for Wachovia's 2006 purchase of Golden West Financial for $24 billion. Even before the mortgage industry went splat, skeptics felt Wachovia CEO Ken Thompson was paying too much for Golden West's abundance of pay-option adjustable-rate mortgages, or option ARMs, clustered in the frothy California real estate market. Still, Herb and Marion Sandler, the husband and wife team behind Golden West, were legendary for their rigorous underwriting standards and had nimbly steered their S&L through the ugly California real estate downturn in the early '90s when other banks failed to. Now analysts and investors are wondering: Can Thompson pull off the same feat today, or is the bank in for some trouble?
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 10:52 am
Personal computer and printer maker Hewlett-Packard reported strong gains in sales and earnings for its fiscal first quarter Tuesday, a sign that the tech giant is gaining market share against key rivals and that its cost cutting is paying dividends.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 10:46 am
The UK's public finances see record tax receipts, boosting the chancellor's hopes of meeting fiscal targets.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 10:36 am
Asda, Britain’s second largest supermarket chain owned by America’s Wal-Mart,
today announced plans to create 9,000 UK jobs through a mixture of new
stores, shop extensions and business expansion.
Source:
Latest Business News from Times Online | 20 Feb 2008 | 10:34 am
Sterling dropped to a one-week low against the dollar on Wednesday after the minutes of the Bank of England's Monetary Policy Committee showed all nine members voted to cut UK interest rates earlier this...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 10:31 am
For years, Big Pharma has kept competition from generic drug makers at bay by essentially paying its would-be rivals to stay out of its business. Now government watchdogs have declared war on these financial deals - a move that could bring cheaper drugs to market faster while costing giant drug developers billions in lost revenue.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 10:30 am
Dutch brewer Heineken N.V. warns of growing input costs and reports a 33% drop in annual profit.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 10:26 am
European markets were in a bearish mood on Wednesday after more disappointing results from the banking sector and overnight losses on Wall Street weighed on stocks. Alliance & Leicester plunged...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 10:21 am
The UK banks were again at the forefront of volatility after a profit warning from Alliance & Leicester. A day after Credit Suisse announced writedowns of almost $3bn, A&L said profits would...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 10:20 am
Alliance & Leicester on Wednesday held its final dividend for 2007 and said it expected "total dividends in 2008 to be maintained at the 2007 level", but the shares plunged as the bank said profits...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 10:20 am
When Taliban forces attacked a police checkpoint in central Afghanistan under dark of night in late 2006, special-operations Master Sgt. Andrew Martin called in air support and then...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 10:18 am
More than a dozen Arkansas-based poultry companies have violated state and federal laws limiting the disposal of animal waste in the Illinois River watershed, argues Oklahoma's attorney...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 10:11 am
Fourth-quarter pre-tax proft at BNP Paribas, France's biggest bank, fell 42
per cent in the wake of a €589 million (£444 million)credit-related
writedown, it said today.
Source:
Latest Business News from Times Online | 20 Feb 2008 | 10:09 am
Alliance & Leicester shares sink after the British mortgage lender said its fiscal-year profit fell more than 40% and remained gloomy on prospects for the coming year.
Source:
MarketWatch.com - Top Stories | 20 Feb 2008 | 10:02 am
Pendragon, Britain's largest car dealer, saw its profits more than halve last year as consumer demand for nearly new cars dwindled in the face of rising interest rates.
Source:
Telegraph Business | 20 Feb 2008 | 9:55 am
The sure-fire trade in the US Treasury bond market in recent months has involved owning the two-year note and selling long-term debt. Like all popular strategies that enjoy profitable runs, the yield...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 9:49 am
Read full story for latest details.
Source:
Business and financial news - CNNMoney.com | 20 Feb 2008 | 9:40 am
Barack Obama won the Wisconsin primary and Hawaii caucuses, giving him 10 consecutive victories in the Democratic presidential race and putting Hillary Clinton under intense pressure to salvage her campaign
Source:
FT.com - US homepage | 20 Feb 2008 | 9:39 am
Reuters - British bank Alliance & Leicester
on Wednesday suffered a double blow from the impact of
financial market turmoil, warning of sharply higher funding
costs to add to a big writedown on the value of risky assets.
Source:
Yahoo! News: Business | 20 Feb 2008 | 9:37 am
LONDON (Reuters) - British bank Alliance & Leicester on Wednesday suffered a double blow from the impact of financial market turmoil, warning of sharply higher funding costs to add to a big writedown on the value of risky assets.
Source:
Reuters: Business News | 20 Feb 2008 | 9:36 am
The Bank of England's rate-setting Monetary Policy Committee voted 8 to 1 to
cut rates by 0.25% to 5.25% earlier this month, the minutes of their meeting
reveal this morning.
Source:
Latest Business News from Times Online | 20 Feb 2008 | 9:32 am
Asda will hire 9,000 staff in 2008 and open 22 new stores as part of wider expansion plans, the firm's boss says.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 9:29 am
Asian markets slid on Wednesday, with banking stocks across the region accelerating their morning declines after KKR said it would delay yet again the repayment of billions of dollars of commercial paper,...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 9:27 am
LONDON (Reuters) - Asia-focused bank Standard Chartered has withdrawn two proposals to rescue a $7 billion structured investment vehicle (SIV) just a week after it was forced into...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 9:26 am
London equities fell fast on Wednesday with the banking sector hit by news of a big drop in annual profits at Alliance & Leicester after the extent of the damage done by the credit crunch became...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 8:55 am
Anglo American's sale of Tarmac has fallen victim to the global credit squeeze, the mining group said on Wednesday, as it reported strong annual profits. The disposal of the construction materials group,...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 8:40 am
Reuters - MySpace, the online social networking
site owned by News Corp (NWSa.N), is in talks with music
companies to launch an advertising-supported free music
service, according to several reports on Wednesday.
Source:
Yahoo! News: Business | 20 Feb 2008 | 8:39 am
NEW YORK (Reuters) - MySpace, the online social networking site owned by News Corp, is in talks with music companies to launch an advertising-supported free music service, according to several reports on Wednesday.
Source:
Reuters: Business News | 20 Feb 2008 | 8:38 am
The cost of a barrel of oil hit a record of $100.10 late last night on
continuing fears that Opec, the body of oil producing nations, would cut
supply.$
Source:
Latest Business News from Times Online | 20 Feb 2008 | 8:34 am
NEW YORK (Reuters) - MySpace, the online social networking site owned by News Corp, is in talks with music companies to launch an advertising-supported free music service, according to...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 8:32 am
TOKYO/LONDON (Reuters) - KKR Financial Holdings , the listed affiliate of private equity group Kohlberg Kravis Roberts & Co , has delayed repayment of debt backed by mortgage securities for the second time and begun a new round of talks with creditors.
Source:
Reuters: Business News | 20 Feb 2008 | 8:28 am
The German trade union IG Metall and steel companies agreed late Tuesday to a 5.2 percent pay raise for steel workers, IG Metall said. The increase is to take effect on March
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 8:27 am
TOKYO/LONDON (Reuters) - KKR Financial Holdings , the listed affiliate of private equity group Kohlberg Kravis Roberts & Co , has delayed repayment of debt backed by mortgage...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 8:21 am
Reuters - KKR Financial Holdings ,
the listed affiliate of private equity group Kohlberg Kravis
Roberts & Co , has delayed repayment of debt backed by
mortgage securities for the second time and begun a new round
of talks with creditors.
Source:
Yahoo! News: Business | 20 Feb 2008 | 8:21 am
Shares in British bank Alliance & Leicester tumbled after warning that it expects earnings growth to slow this year.
Source:
Telegraph Business | 20 Feb 2008 | 8:20 am
Alliance & Leicester reported a 30 per cent fall in profit last year after
being hit by a £185 million writedown on its investments in the credit
market, sending its stock down more than 14 per cent to a record low of 428p
in early trading. They later recovered to 475p.
Source:
Latest Business News from Times Online | 20 Feb 2008 | 8:01 am
It's hard enough dealing with individual businesses or government agencies. It's a whole other thing when the public and private sectors team up against consumers.
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 8:00 am
It's hard enough dealing with individual businesses or government agencies. It's a whole other thing when the public and private sectors team up against consumers.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
The National Retail Federation warns that many such products might be stolen and could be dangerous.
Popular health and beauty products sold on Internet auction sites could be stolen, tainted and possibly dangerous, according to a warning issued today by the National Retail Federation.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
A growing industry involves buying, selling and profiting from life insurance.
Robert Mannheim was stunned when he found out that strangers wanted to lend his mother in West Los Angeles money to buy her a $2-million life insurance policy and pay her premiums.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
With studio support, Sony format reigns supreme as Toshiba throws in the towel.
Sony Corp. has finally exorcised the ghost of Betamax.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
A growing industry involves buying, selling and profiting from life insurance. Robert...
Source:
Infocious RSS raw feed - channel BNPaperBusiness | 20 Feb 2008 | 8:00 am
If you've got an appetite for talking on mobile phones, major cellphone companies are ready to give you all you can eat.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
Initial testing finds irregularities with blood thinner heparin made at the facility.
The maker of a blood thinner suspected in four U.S. deaths and allergic reactions in 350 people said Tuesday that its investigation was focusing more closely on whether something went awry during the processing of ingredients in China.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
If approved, the deal would create the world's largest airline and could be followed by more consolidation.
Delta and Northwest are close to a deal that would create the world's largest airline and jump start what is expected to be the industry's biggest consolidation wave in decades.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
The Dow, S & P and Nasdaq drop after a rally in commodity prices triggers new fears about inflation.
Wall Street gave up a big early advance and closed mixed Tuesday after a strong rally in commodities, including oil, stoked inflation fears and helped drive up long-term bond yields.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
For many, the question is when, not if, trade barriers against Cuba will be lifted, a veteran observer says.
With Fidel Castro stepping aside, California vegetable growers, Alabama chicken producers and Kansas wheat farmers -- not to mention scores of other nonagricultural businesses -- see new opportunity to push for an expansion of U.S.-Cuba trade.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
The price of crude rises $4.51 to a closing record of $100.01 as commodities rally.
The petroleum world produced a record Tuesday, which was bad news for consumers.
Source:
L.A. Times - Business | 20 Feb 2008 | 8:00 am
Oil prices drop back from a new record above $100, but fears high energy prices could stoke inflation hit stocks.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 7:59 am
Airbus says it expects half as many orders for new planes in 2008 as it got last year after receiving record orders in recent years and amid slower global growth. John Leahy, Airbus'...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 7:51 am
AFP - Aircraft orders are expected to decline by about 50 percent to 700 planes this year in tandem with a slowing global economy, European manufacturer Airbus said Wednesday.
Source:
Yahoo! News: Business | 20 Feb 2008 | 7:34 am
Aircraft orders are expected to decline by about 50 percent to 700 planes this year in tandem with a slowing global economy, European manufacturer Airbus said Wednesday. ...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 7:34 am
SYDNEY (Reuters) - Australian prospector Midwest Corp rejected a $1 billion-plus takeover proposal from its major shareholder, the Chinese commodities trader Sinosteel, emboldened by another big hike in iron ore prices this year.
Source:
Reuters: Business News | 20 Feb 2008 | 7:33 am
SYDNEY (Reuters) - Australian prospector Midwest Corp rejected a $1 billion-plus takeover proposal from its major shareholder, the Chinese commodities trader Sinosteel, emboldened by...
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 7:33 am
LONDON (Reuters) - British bank Alliance & Leicester's 2007 profit tumbled 30 percent as it suffered a 185 million pound ($360.4 million) writedown on its exposure to risky assets.
Source:
Infocious RSS raw feed - channel BNewsBusiness | 20 Feb 2008 | 7:24 am
Plane maker Airbus says it expects orders for new aircraft to halve to about 700 this year.
Source:
BBC News | Business | World Edition | 20 Feb 2008 | 6:58 am
TOKYO (Reuters) - Sony Corp said on Wednesday it will sell its microchip production facilities in western Japan to Toshiba Corp for 90 billion yen ($835 million), in their latest move to focus on their core businesses.
Source:
Reuters: Business News | 20 Feb 2008 | 6:38 am
As Microsoft cooks up its plan to launch a proxy fight to wrest control of Yahoo, losing a nasty, protracted clash could not only humiliate bossman Steve Ballmer but let Google further cement its place as the unrivaled king of the Internet.
While the conventional wisdom holds that Microsoft is favored to win a proxy contest, some experts are warning the software giant not to get too cocky. There's plenty of time—four months to be more precise—for Microsoft's best-laid plans to go awry.
At a minimum, losing the proxy fight would mean that Microsoft would have wasted valuable time, attention and money, further setting it back as it struggles to compete with Google. Worse, it could ensure that Google will face no "credible" rival for years to come, to use a term favored by Microsoft executives.
But the stakes are even higher than that: with Steve Ballmer, as usual, this is not just business, it's personal. Losing the proxy fight would be a humiliating defeat for Ballmer—a repudiation of his argument that Microsoft's bid represents that the best way to create value for Yahoo shareholders.
"Ballmer has staked his reputation on this bid," said Steven M. Davidoff, an assistant professor of law at Wayne State University, and the author of the popular Deal Professor blog. "By going hostile, Microsoft is attempting to shed its image as a stodgy old tech firm. They have a lot invested in getting this done."
Now that Yahoo has turned down Microsoft's opening bid of $31 per share, and Microsoft is standing pat, for the moment, the two adversaries are locked in a game of billion-dollar chicken.
The logic behind a proxy war stems from Yahoo's poison pill provision, which prevents a single shareholder from acquiring more than a 15 percent stake in the company. Because Microsoft can't simply buy the company outright, it must nominate a new slate of directors, and convince Yahoo shareholders to vote them onto the board. The new board would then dismantle the poison pill, allowing the merger to take place.
To be sure, in the event of a proxy fight, the odds are against Yahoo, most experts, including Davidoff, believe. Yahoo's board is not staggered, meaning that all directors face reelection every year, and directors need only win a plurality of votes.
But Microsoft should not underestimate the challenge that it faces in trying to win over Yahoo shareholders, said Ralph Ward, the publisher of Boardroom Insider.
"Proxy fights against management's recommendation are an uphill battle," said Ward, adding Microsoft's own shareholders might object to a protracted, and nasty fight. If the market is to be believed, Microsoft shareholders are already cool to the merger - or so the company's 15 percent share price drop in recent weeks would suggest.
"There is a lot that can go wrong here," said Davidoff. "Once a proxy contest starts, information starts flying around. The case for 'Micro-hoo' may not be a compelling one, and may not convince the shareholders that this is where value lies. And if that's the case, they could lose."
And, of course, there always a possibility that a white knight could emerge once the proxy fight is underway, said Charles Elson, a professor of corporate governance at the University of Delaware, referring to reports that have placed Yahoo in talks with News Corp., Google and Time Warner's AOL.
"The question is, are they willing to pay more than Microsoft, and is Microsoft willing to pay the premium," said Elson. "And in that case, it becomes a bidding war, which is fine. That's good for investors."
Most experts believe that whether by raising its bid above $31 per share, or by taking the merger directly to Yahoo shareholders in the form of a proxy fight, Microsoft will ultimately prevail. But the software giant shouldn't get too cocky, because losing the fight would be a billion-dollar black-eye for the company.
"If Microsoft doesn't win it would be embarrassing for them," said Elson. "But I just don't see it. If they want it badly enough, I think they're going to win."
Related Links
The War for the InternetMicrosoft Faces "Uphill Battle" on YahooMicrosoft Offers to Buy Yahoo
Source:
Portfolio.com: Top 5 | 20 Feb 2008 | 6:00 am
The Securities Commission is to contact investment advisers and brokers early next month to check their compliance with new investment adviser disclosure laws.
Advisers and brokers were expected to comply with the law as soon as...
Source:
New Zealand Herald - Business | 20 Feb 2008 | 2:45 am
SYDNEY - Australia's rate of economic growth has started to slow as higher interest rates begin to take their toll, a leading indicator shows.
The Westpac-Melbourne Institute leading index of economic activity, which predicts the...
Source:
New Zealand Herald - Business | 20 Feb 2008 | 2:30 am
Pakistan's two centrist opposition parties have routed the pro-Musharraf Pakistan Muslim League, a pillar of the military-backed regime that has ruled for the past eight years, speeding the country towards a return to democratic rule
Source:
FT.com - US homepage | 20 Feb 2008 | 2:15 am
MBIA has brought back Jay Brown, its former chief executive, to run the company in a move that could smooth the way for a broader restructuring of the world's biggest bond insurer, including dividing its operations
Source:
FT.com - US homepage | 20 Feb 2008 | 2:06 am
The listed affiliate of the private equity group postpones repayment of billions of dollars of commercial paper for the second time and begins restructuring talks with creditors
Source:
FT.com - US homepage | 20 Feb 2008 | 1:32 am
Lines company Vector is understood to have invited three parties to do due diligence on its Wellington electricity network.
Invitations included Hong Kong's Cheung Kong Infrastructure and Hastings Funds Management in partnership...
Source:
New Zealand Herald - Business | 20 Feb 2008 | 1:30 am
A man pretending to be a Wall Street analyst has been prank calling CEOs and other top executives on earnings conference calls.
Source:
Marketplace | 20 Feb 2008 | 1:09 am
Fidel Castro announced that he would step down as Cuba's president and commander in chief after 49 years at the communist island's helm
Source:
FT.com - US homepage | 20 Feb 2008 | 1:05 am
SYDNEY - Australian airline Virgin Blue Holdings Ltd said on Wednesday its first-half profit fell 8.8 per cent, and said second-half earnings would be affected by high fuel costs.
Virgin Blue, Australia's second-largest airline,...
Source:
New Zealand Herald - Business | 20 Feb 2008 | 12:57 am
YAHOO (YHOO) set far-more generous severance packages if Microsoft buys the Net firm. (MSFT)Earlier, Bill Gates said Microsoft won't haggle with...
Source:
Investor's Business Daily: BUSINESS | 20 Feb 2008 | 12:40 am
In classical myth, Ceres was a harvest goddess who was eaten by her father, who came from the family of Titans. So it was perhaps fitting that...
Source:
Investor's Business Daily: BUSINESS | 20 Feb 2008 | 12:40 am
Femsa (FMX), the largest Coke bottler and brewer in Latin America, said its Q4 profit jumped 57.5% to $242 mil. Revenue rose 10% to $3.6 bil. It...
Source:
Investor's Business Daily: BUSINESS | 20 Feb 2008 | 12:40 am
Cancer detected late in uninsured
Source:
Investor's Business Daily: BUSINESS | 20 Feb 2008 | 12:40 am
Generics power Medco Health
Source:
Investor's Business Daily: BUSINESS | 20 Feb 2008 | 12:40 am
Crude oil closed at a record high of more than $100 a barrel, against a background of supply problems and expectations that Opec would not increase production quotas at its next meeting
Source:
FT.com - US homepage | 20 Feb 2008 | 12:33 am
Pubs and supermarkets are set to feel the impact of the rising price of barley and aluminium after European brewers Scottish & Newcastle and Carlsberg warned that they would put through substantial price rises on their beer.
Source:
Telegraph Business | 20 Feb 2008 | 12:01 am
Northern Rock is advising customers to seek new mortgages with rivals as it attempts to shrink its loan book dramatically.
Source:
Telegraph Business | 20 Feb 2008 | 12:01 am
Today I'll be watching the markets even more closely than usual… given my own company is reporting!!
Source:
Telegraph Business | 20 Feb 2008 | 12:01 am
Cadbury Schweppes put itself on a collision course with activist investor Nelson Peltz when it said it would not return cash to shareholders after the demerger of its US drinks business.
Source:
Telegraph Business | 20 Feb 2008 | 12:01 am
As British band Kaiser Chiefs prepare to battle it out for three Brit Awards at tonight's show in Earls Court, their manager MAMA Group tells Emma Thelwell how the music industry is changing its tune.
Source:
Telegraph Business | 20 Feb 2008 | 12:01 am
Microsoft is set to turn hostile in the battle for Yahoo! by taking its takeover offer directly to the internet search company's shareholders.
Source:
Telegraph Business | 20 Feb 2008 | 12:01 am
Credit Suisse, the Swiss investment bank, suspended a “small group” of London
traders led by Kareem Serageldin yesterday after revealing a shock $2.85
billion ($£1.5 billion) asset writedown that will wipe $1 billion off
first-quarter profits.$
Source:
Latest Business News from Times Online | 20 Feb 2008 | 12:00 am
Ron Sandler was dubbed “the second best-paid person in Newcastle” yesterday
after it emerged that the executive chosen by the Treasury to rescue
Northern Rock is a non-domiciled taxpayer. Only Michael Owen, the Newcastle
and England footballer, was likely to earn more, critics suggested.
Source:
Latest Business News from Times Online | 20 Feb 2008 | 12:00 am
Oil retreated on Wednesday, a day after hitting a record high above $100 a barrel, as investors focused on a U.S. inventory report expected to show crude stockpiles rose for a sixth week. 
AFP - Wal-Mart Stores, Inc. reported a modest four percent rise in quarterly profits on Tuesday as the world's biggest retailer appeared to weather an abrupt slowdown in US economic growth.
AFP - UK blue chips closed higher, with the FTSE 100 going through the 6,000 barrier briefly, helped by a bullish conference call at Barclays prompting a turnaround in the banking sector, and a strong start on Wall Street.
