Oil jumped after the president of OPECc suggested that Saudi Arabia's decision to pump another 300,000 barrels a day will do little to restrain the surge in the commodity. Source: Telegraph Business | 19 May 2008 | 2:00 pm
AP - Lowe's Cos., the nation's second biggest home improvement retailer, reported a 17.9 percent drop in first-quarter earnings and lowered its guidance for the year on Monday as the slumping U.S. housing market and softer economy hurt sales. Its shares fell more than 3 percent in morning trading. Source: Yahoo! News: Business | 19 May 2008 | 1:44 pm
Maguire Properties Inc., the Los Angeles real-estate developer, on Monday named a new chairman and a new chief executive and said its former CEO withdrew a proposal to take over the embattled company.
Reuters - Stocks opened little changed on
Monday, with near-record oil prices increasing caution about
inflation and consumer spending and Lowe's Companies
adding to concerns about the housing slump.
NEW YORK (Reuters) - Stocks opened little changed on Monday, with near-record oil prices increasing caution about inflation and consumer spending and Lowe's Companies adding to concerns about the housing slump.
Stocks struggled early Monday as investors considered record oil and gas prices, a weak outlook from Lowe's, and the latest news regarding a potential Microsoft-Yahoo combination.
(Reuters) - The C$34.8 billion ($34.8 billion) buyout of BCE Inc is in trouble as investment banks financing the deal sought to renegotiate lending terms, the New York Times said on Monday, citing people on both sides of the transaction.
NEW YORK (MarketWatch) -- Crude-oil futures edged higher Monday, after surging above $127 a barrel earlier in the session, as weakness in the U.S. dollar underpinned oil prices.
The price of platinum could increase by 50% in 2008 compared with last year, a poll of analysts says. Source: BBC News | Business | World Edition | 19 May 2008 | 1:21 pm
Women’s apparel designer Vera Wang, well aware of the pressures a sluggish economy has put on the world of fashion, said she remains optimistic the industry has the allure needed to get through tough times.
Metals USA Holdings Corp. has filed to come public this morning via an initial public offering. The company is taking the proposed ticker of "MUX" on NYSE. For filing purposes, it intends to sell up to $200 million in common stock. The company is one of the largest metal service center businesses in the United States, and is a leading provider of value-added processed carbon steel, stainless steel, aluminum, red metals and manufactured metal components. This is a private equity held company, and investment funds affiliated with Apollo Management, L.P. are the principal stockholders. Some proceeds will go to the...
PHILADELPHIA (Reuters) - Electronic Arts Inc said on Monday it extended by one month its $2 billion hostile offer to acquire rival video game maker Take-Two Interactive Software Inc .
Among the companies whose shares are expected to see active trade in Monday's session are the metals companies, the semiconductor producers, Amazon, Biovail, Dell, Enodis, Exxon Mobil, LHC Group, Maguire Properties, Microsoft, Thomson Reuters and Yahoo.
Lowe’s Cos., the No. 2 U.S. home-improvement retailer, says its first-quarter profit fell 18%, hurt by the declining housing market and a spate of other economic worries that cut into consumers’ discretionary spending.
Microsoft Corp. has reopened talks with Yahoo Inc. about a deal that would not involve a full acquisition, just days after billionaire investor Carl Icahn said he would seek to oust Yahoo's board.
Demand for new homes collapsed last year. Next up could be a similar drop in the rest of the construction market -- and that could be the latest drag on an already sputtering U.S. economy
On Capitol Hill this week, lawmakers are set to continue to grapple with the best response to the rising tide of home foreclosures. But the Bush administration says it has a solution in place: A nine-month old mortgage refinancing program run by the Federal Housing Administration.
Vought Aircraft Holdings, Inc. filed late Friday to come public via an IPO in a securities sale of up to $250 million. Vought will take the proposed ticker of "VTC" on the NYSE. The underwriting group is listed as LEHMAN BROTHERS, GOLDMAN SACHS, and JPMORGAN. Vought is a global manufacturer of aerostructure products for commercial, military and business jet aircraft. It develops and manufactures fuselages, wing and tail assemblies, engine nacelles, flight control surfaces, and helicopter cabins. Its customer base consists of Airbus, Bell Helicopter, Boeing, Cessna, Gulfstream, Hawker Beechcraft, Lockheed Martin, Northrop Grumman, Sikorsky, and the U.S. Air Force....
Japan faces a 50pc chance of recession this year but will emerge from the current credit crisis that is engulfing global markets as one of the few winners among leading economies, according to Takahide Kiuchi, chief economist at Nomura Securities. Source: Telegraph Business | 19 May 2008 | 1:00 pm
The futility of President Bush's visit to Saudi Arabia on Friday has been underscored by a new benchmark: $4 for a gallon of gasoline.
The Lundberg Survey tallied 7,000 retail gasoline prices around the nation last week and found an average price of $3.79, up 17 cents in the last two weeks. In Chicago and on Long Island, prices reached $4 a gallon for the first time.
And $4 could soon be the national average, she said. Gas consumption typically increases significantly after Memorial Day.
"The refinery margin on gasoline is so poor, I think the upward pressure on the refining margin will push up the price at the pump, even if crude oil does not," she told Reuters.
Crude-oil prices continue to climb today, approaching $128 a barrel.
On Friday, President Bush asked the Saudis to produce more oil. The Saudis say they have been pumping 300,000 barrels more a day in response to demand from buyers since early May, but that increase is not expected to have any impact on prices.
Here is a snapshot of gasoline prices in some other markets, from CNN:
Reuters - A potential partnership deal between
Microsoft Corp and Yahoo Inc the companies
revealed over the weekend may prove to be a stepping stone to
an outright acquisition, analysts said on Monday.
NEW YORK (Reuters) - A potential partnership deal between Microsoft Corp and Yahoo Inc the companies revealed over the weekend may prove to be a stepping stone to an outright acquisition, analysts said on Monday.
Oil hovered near its record high on Monday as the president of Opec dashed hopes of an unscheduled meeting to boost output and said that the world had already enough supplies. The comments from Chakib... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 12:55 pm
CHICAGO (Reuters) - Campbell Soup Co on Monday posted a jump in quarterly profit on the gain from the sale of its Godiva chocolate business, though earnings excluding one-time items fell.
US stocks were set for a flat start as markets trod water ahead of an empty corporate calendar and a day scarce in economic data releases Source: FT.com - US homepage | 19 May 2008 | 12:47 pm
SEATTLE (Reuters) - Microsoft Corp sees tens of millions of corporate e-mail accounts moving to its data centers over the next five years, shifting to a business model that may thin profit margins but generate more revenue.
Dell Inc. (NASDAQ: DELL) has announced that Don Carty, Vice Chairman and CFO, will step down from the company. He will remain a board member, but will end his direct duties on the effective date of June 13. This is obviously something that wasn't an overnight development because of the transition announcement. Dell is naming Brian Gladden as the new CFO with the same June 13 effective date. Gladden was President & CEO of SABIC Innovative Plastics Holding BV. If that sounds familiar it is because this was formerly GE Plastics before General Electric Co. (NYSE: GE) took that out...
Alarms sounded all over Wall Street in March of last year when word leaked that BCE, parent of phone giant Bell Canada, was in buyout talks with Kohlberg Kravis Roberts. The news that such a rich prize - BCE had a market cap of $25 billion - was in play set KKR competitors like Blackstone, Cerberus, and Carlyle scrambling to get in on the action.
Crude oil prices fell further from recent record highs on profit-taking Monday but analysts said fresh historic peaks were just around the corner amid supply disruptions and strong demand. Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 12:33 pm
Late Friday afternoon, a filing came from Safe Bulkers, Inc. for a proposed IPO of its shares. The company has applied for the ticker "SB" on NYSE. Pricing indications are 10 million shares in a price range expected of $20.00 to $22.00 per share. The lead underwriters are listed as Merrill Lynch and Credit Suisse; and co-managers are Jefferies & Company, Dahlman Rose & Company, Poten Capital Services, and DnB NOR Markets. As you could guess by the name, it is a shipholding company. Safe Bulkers is an international provider of marine drybulk transportation services based in Greece, transporting bulk...
AP - Companies suffered $9.5 billion in damage in last week's quake in central China, the government said Monday. Source: Yahoo! News: Business | 19 May 2008 | 12:23 pm
The bidding war for British cooking equipment supplier Enodis PLC heated up on Monday, as Manitowoc Co. Inc. came back with a second offer to trump an approach by another U.S. company,... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 12:21 pm
HSBC, Europe's largest bank, faces escalating investor concern about its "excessive"
remuneration scheme after more corporate governance experts questioned the
size of directors' pay packages compared to their performance targets. Source: Latest Business News from Times Online | 19 May 2008 | 12:18 pm
ING Direct, the online banking arm of ING, said on Monday it was offering to buy Interhyp, a German direct mortgage broker, for 64 a share, representing an equity value of 416m, signalling confidence in... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 12:15 pm
Europe's main stock markets advanced on Monday, lifted by mining and metals groups after Tokyo's main share index had closed at a four-month high. Wall Street had wobbled to... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 12:07 pm
Profits at Marks & Spencer could fall by as much as £100 million over the
next year as the high street retailer battles falling sales and increased
costs. Source: Latest Business News from Times Online | 19 May 2008 | 12:03 pm
German deputy finance minister Thomas Mirow was named Monday as the new president of the European Bank for Reconstruction and Development, the group announced at its annual meeting in Kiev. Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 12:02 pm
Wall Street often cuts jobs with a ruthlessness and cold-bloodedness that Stalin might admire.
People have been gathered in meeting rooms for mass firings. There are stories about how employees learned of their dismissal through letters explaining how they can extend their health benefits under Cobra. Or of employees who came into work and found that their ID card or their computer log-in no longer worked.
In an article describing the current wave of stealth layoffs on Wall Street, Louise Story and Eric Dash of the New York Timesnoted how investment bankers at Lehman Brothers "found out their jobs were in peril when they saw cardboard boxes and dumpster bins in the hallways in March."
Then there is J.P. Morgan Chase, which is again doing things just a little bit differently than the rest of Wall Street.
In an effort to minimize the pain and mute any public criticism of its takeover of Bear Stearns, J.P. Morgan is making an unusual effort to help Bear employees who are losing their jobs.
Francesco Guerrera of the Financial Timesreports that Jamie Dimon, J.P. Morgan's chief executive, has been writing to clients, vendors, and even rivals, asking them try to take on former employees. He is planning to write 100 such letters.
The bank has also asked more than 1,800 companies for a list of their vacancies, the paper reports.
At a UBS conference last week, Dimon said that the bank had found jobs at J.P. Morgan for about 40 percent of Bear's 14,000 employees. J.P. Morgan is also cutting about 2,000 jobs from its ranks.
Some entire Bear businesses will largely disappear, including asset management and currency trading. The acquisition of Bear is expected to close next month.
Perhaps there is an out-of-work Bear trader who wants try his (or her) hand at blogging?
Oil prices steadied Monday after punching through to another trading record last week and regular gas for the first time topped $4 a gallon in two U.S. metropolitan areas. The world's... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 11:55 am
Reuters - Retailer Lowe's reported an 18
percent drop in first-quarter profit on Monday as the slumping
U.S. housing market and softer economy hurt sales, and it cut
its full-year profit forecast.
ATLANTA (Reuters) - Retailer Lowe's reported an 18 percent drop in first-quarter profit on Monday as the slumping U.S. housing market and softer economy hurt sales, and it cut its full-year profit forecast.
Russia's first entirely new commercial plane for decades completes its maiden flight. Source: BBC News | Business | World Edition | 19 May 2008 | 11:50 am
French fishermen angry at high fuel costs on Monday blocked a Mediterrranean oil port and stepped up protests at other Atlantic and Channel ports. Fishing crews strung a... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 11:40 am
Counterfeiting is a "growing problem" for Europe, a report finds, as cases of fraudulent goods seized last year soars. Source: BBC News | Business | World Edition | 19 May 2008 | 11:37 am
The euro rose against the dollar on Monday as ECB chief Jean-Claude Trichet warned about high inflation, which increases the chances of eurozone interest rates remaining on hold according... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 11:37 am
These aren't the only analyst calls this Monday morning, but these are the ones we are focusing on early this morning: Akamai Tech (NASDAQ: AKAM) Cut to Hold from Buy at Citigroup. American Eagle (NYSE: AEO) cut to Underperform at Friedman Billings. Ariba (NASDAQ: ARBA) raised to Outperform at RBC Capital. Blockbuster (NYSE: BBI) Added To Citigroup's Top Picks list. Compuware (NASDAQ: CPWR) Raised to Buy from Hold at Banc Of America. Dynavax Technologies (NASDAQ: DVAX) cut to Peer Perform at Bear Stearns. Finisar (NASDAQ: FNSR) Raised to Overweight at Thomas Weisel. National City (NYSE: NCC) Raised to Buy from...
Microsoft's grand internet strategy, it turns out, is still Yahoo, despite walking away from a pursuit of the company two weeks ago.
Microsoft said on Sunday that it "is considering and has raised with Yahoo an alternative that would involve a transaction with Yahoo but not an acquisition of all of Yahoo." Microsoft, however, did not rule out making a takeover offer in the future. (Yahoo's response was that it has "confirmed with Microsoft that it is not interested in pursuing an acquisition of all of Yahoo at this time."
What has changed? Well, obviously it was the emergence of Carl Icahn and a proxy fight that is likely to be supported by other large disappointed shareholders of Yahoo.
But, more important, it is apparent that Microsoft doesn't have much of an alternative plan in its push to challenge Google.
In a memo to employees on Sunday, Kevin Johnson, who runs Microsoft's online business, acknowledged that "the fact is that we are not where we want to be in this business yet, and we've been in this position longer than we'd all like."
His memo also said that a "major initiative" in search would be announced on Wednesday.
The "alternative transaction" that Microsoft is proposing, according to several reports, is similar to the alliance that Yahoo has been pursuing with Google, one that is expected to be announced this week.
It would be a partnership on ads sold by Microsoft on Yahoo search results. The advantage for Yahoo is that an alliance with Microsoft would be more likely to pass regulatory scrutiny than one with Google, which would tie up 90 percent of the search market.
But a search-advertising deal, while potentially beneficial to Yahoo, is unlikely to dissuade Icahn and other investors who would prefer to get $31 for each of their Yahoo shares.
"Microsoft is trying to get the milk without buying the cow, and if you look at Icahn's history, he has never been used that way," a person "familiar with his thinking" told Reuters. "He does not want to see Yahoo pushed into some joint venture with Microsoft and is not going to be used to push Yahoo into it."
Michael Arrington on TechCrunch says, "whatever happens, it's clear that Microsoft is very much in the driver's seat, and Yahoo's head is spinning."
"I can't imagine this can go on for much longer. And frankly, Yahoo's stockholders and employees deserve some kind of mercy killing at this point."
Lowe's says its profit fell 17.9 percent in the first quarter as the home improvement retailer faces a challenging sales environment amid a national housing slump. The Mooresville,... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 11:16 am
Companies suffered $9.5 billion in damage in last week's quake in central China, the government said Monday. Some 14,207 companies in Sichuan province and surrounding areas were ... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 11:08 am
European markets performed a u-turn on Monday reversing early losses to move higher on strong commodities stocks despite softness in the financial sector. At midday, the FTSE Eurofirst 300 was 0.2 per... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 11:04 am
Weaker banks weighed in London, but blue-chip stocks were lent some support by mining groups thanks to strong commodity markets and broker upgrades in the sector.By midday, the FTSE 100 was up 15 points... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 11:00 am
Wall Street headed for a flat open Monday ahead of a report expected to show the economy remains sluggish amid the continuing housing slump and credit crisis. The Conference Board's... Source: Infocious RSS raw feed - channel BNewsBusiness | 19 May 2008 | 10:57 am
National Association for Business Economics members say that the housing disaster and credit problems "might" get better this year. The economic downturn and job losses could go on much longer. According to the AP "A growing number of economists believe the country is on the brink of a recession or in one already, dragged down by all the problems in housing, credit and financial markets." They must not get out into the real world very often. Douglas A. McIntyre
TOKYO (Reuters) - Facebook Inc founder and CEO Mark Zuckerberg stressed his company's independent spirit on Monday, after a report the social networking site might be sold to software giant Microsoft, which is hunting for ways to beef up its Internet business.
About 140 Thomson Reuters journalists will lose their jobs as part of cost-cutting plans, the firm says. Source: BBC News | Business | World Edition | 19 May 2008 | 10:44 am
Some of the most influential figures in British fund management and insurance
are preparing to hold high-level talks with Alistair Darling, the
Chancellor, on the tax rights of UK companies and the protection regime for
domestic investors. Source: Latest Business News from Times Online | 19 May 2008 | 10:39 am
Recent data on advertising buying patterns show that online marketers are moving toward search advertising and away from display ads. Some of the numbers are more than worrisome. The New York Times writes that "The prices paid for online ads bought through ad networks dropped 23 percent from March to April, according to PubMatic." The figure borders on being extraordinary. One of the conclusions Wall St. should bring from the data is that big internet companies which paid for display ad serving and network firms will end up having spent too much money.The signature deal in this part of the...
Jean-Claude Trichet, the head of the European Central Bank, has indicated that the worst of the credit crisis may not be behind us. Source: Telegraph Business | 19 May 2008 | 10:16 am
Jean-Claude Trichet, the head of the European Central Bank, has indicated that the worst of the credit crisis may not be behind us. Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 10:16 am
It is about the time that Electronic Arts (ERTS) is expected to extend its hostile bid of Take-Two Interactive (TTWO). Take-Two has argued that it is worth much more than the EA offer. Two things would say that the argument is not true. First, although the new Take-Two "Grand Theft Auto IV" video game launch was extraordinarily successful, it failed to move the company's stock up. Second, no company other than EA has offered a dime for the company. That may be because Take-Two's recent earnings have been lackluster. It also may arise from the fact that very few companies...
The European Central Bank president warned that the end of the credit crunch was not yet in sight and policymakers needed to make containing inflation their top priority Source: FT.com - US homepage | 19 May 2008 | 10:11 am
Warren Buffett, the billionaire investment guru, will this week hold talks
with a string of business executives across four European cities as he looks
for acquisition opportunities for his Berkshire Hathaway vehicle and its
cash pile of $35 billion.$ Source: Latest Business News from Times Online | 19 May 2008 | 10:09 am
The Australian dollar rose to a 24-year high on Monday as rising commodity prices and a sell-off in the US dollar boosted the currency. Analysts said growing appetite for risk in the past week had also... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 10:06 am
Asian markets are way up since March. Investors hope that the region has dodged the bullet of a slowdown in the West. A sharp recession in America could cause a drop in demand for goods and services from countries like China. Money managers in the Asia region think the moves up in the indices are premature. One of the major causes for concern in the East is inflation. Reuters reports that "Rising prices could force Asian central banks to take tough action such as raising interest rates." Can the US markets dodge a sharp sell-off in Asia? Probably not. If...
The skulduggery of banks who want out of LBOs is already widely known, and expected. Big financial companies have tried to put the legs out from under a deal to take Clear Channel (CCU) private, and now appear ready to take a powder on the contract to buy-out Bell Canada (BCE). Leaving aside the ethics of the matter, although that is hardly fair, the $51.8 billion which was offered for BCE was expensive. It was, according to the Guinness Book Of World Records and other sources, the largest deal of its kind, ever. Now, banks, including Citigroup (C), which does...
GlaxoSmithKline's vaccine for the deadly H5N1 bird flu wins approval from the European Medicines Agency. Source: BBC News | Business | World Edition | 19 May 2008 | 9:03 am
Suleiman Kerimov, the Russian billionaire and politician, is in talks to sell part or all of his majority stake in Polymetal, Russia's largest silver miner.The company, which is also the world's fifth-largest... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 9:01 am
The weekend press could hardly be described as 'upbeat' as analysts lined up to prophesy doom and gloom across all divisions but this week we get to see how many of the 'real' sectors of the economy are... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 9:00 am
Microsoft has resumed bid talks with Yahoo!, just days after rebel shareholders threatened to try and oust the board of the search engine for resisting the software giant's takeover attempt. Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 9:00 am
Microsoft has resumed bid talks with Yahoo!, just days after rebel shareholders threatened to try and oust the board of the search engine for resisting the software giant's takeover attempt. Source: Telegraph Business | 19 May 2008 | 9:00 am
RAB Special Situations, the fund which bet on Northern Rock after it ran into trouble last year, said that while it had suffered from a dramatic fall in equity prices, its focus on commodities and the... Source: Infocious RSS raw feed - channel BNPaperBusiness | 19 May 2008 | 9:00 am
The weekend press could hardly be described as 'upbeat' as analysts lined up to prophesy doom and gloom across all divisions but this week we get to see how many of the 'real' sectors of the economy are performing with a wide swathe of differing corporate results. Source: Telegraph Business | 19 May 2008 | 9:00 am
Microsoft has resumed bid talks with Yahoo!, just days after rebel shareholders threatened to try and oust the board of the search engine for resisting the software giant's takeover attempt. Source: Telegraph Business | 19 May 2008 | 9:00 am
RAB Special Situations, the fund which bet on Northern Rock after it ran into trouble last year, said that while it had suffered from a dramatic fall in equity prices, its focus on commodities and the Asia puts it in a good position. Source: Telegraph Business | 19 May 2008 | 9:00 am
Endemol, the television company behind Big Brother, this morning appointed
Ynon Kreiz as its chief executive - the venture capitalist who provided the
finance to help Setanta Sports seize rights to show live Premier League
football. Source: Latest Business News from Times Online | 19 May 2008 | 8:44 am
The credit crunch continues and the worst might not be over, the European Central Bank's boss tells the BBC. Source: BBC News | Business | World Edition | 19 May 2008 | 8:36 am
Fears of a sustained downturn in world economies was back on the agenda today
after Jean Claude Trichet, the president of the European Central Bank, gave
warning that the worst of the credit crunch has not passed and the economy
was still heading for a "very significant market correction". Source: Latest Business News from Times Online | 19 May 2008 | 8:19 am
GlaxoSmithKline said this morning that a vaccine that could help prevent an
outbreak of the H5N1 'bird flu' virus had been approved by the European
Commission. Source: Latest Business News from Times Online | 19 May 2008 | 7:53 am
Manitowoc increases its offer for UK kitchen equipment firm Enodis, which supplies machines to McDonald's. Source: BBC News | Business | World Edition | 19 May 2008 | 7:50 am
The bid battle for Enodis intensified today as Manitowoc, the American
industrials group, tabled a £1 billion all-cash offer for the London-listed
manufacturer of catering equipment for fast-food restaurants McDonald's and
Subway. Source: Latest Business News from Times Online | 19 May 2008 | 7:07 am
The economic slowdown, particularly in California, has meant declining sales for companies such as Pacific Sunwear and Quiksilver.
On a recent hot night in Baja, short-skirted women gyrated alongside beer-drinking men at the legendary nightspot El Squid Roe, and Fernando Aguerre dispensed shots of tequila to anyone who would have one.
The giant pension fund negotiates to prevent a 15,000-acre Santa Clarita Valley deal from sinking into bankruptcy.
The California Public Employees' Retirement System, which poured about $1 billion into a troubled real estate deal, is in negotiations to keep a related loan default from turning into a bankruptcy.
"Tartar protection just became more beautiful," says a recent news release from consumer products giant Procter & Gamble. P&G is at it again, adding Crest Whitestrips Plus Tartar Protection to an already extensive range of tooth-whitening products.
Henry Samueli and Henry Nicholas are fighting allegations related to the backdating of stock options.
The Broadcom Corp. founders accused of engineering a massive stock fraud have always been a study in contrasts: Henry Samueli, the professorial strategist who bought the NHL's Anaheim Ducks, and Henry T. Nicholas III, the driven deal maker whose personal life has made headlines.
Reuters - Facebook Inc founder and CEO Mark
Zuckerberg stressed his company's independent spirit on Monday,
after a report the social networking site might be sold to
software giant Microsoft , which is hunting for ways to
beef up its Internet business.
Microsoft says it is considering an alternative deal with Yahoo, after an earlier offer was turned down. Source: BBC News | Business | World Edition | 19 May 2008 | 6:29 am
PARIS (Reuters) - Martin Feldstein, President of the National Bureau of Economic Research, said in a newspaper interview published on Monday he had seen a clear reversal in U.S. monthly economic indicators since December or January.
The New Zealand dollar maintained much of the momentum it gained offshore on Friday , thanks to US dollar weakness and a firmer Australian currency.
The kiwi kicked off the morning on a high of US77.48c before hitting a spot of... Source: New Zealand Herald - Business | 19 May 2008 | 5:57 am
Debenture and note holders in troubled OPI Pacific Finance, formerly MFS Pacific Finance, have supported a request from the company for a moratorium on repayments.
Some 98.56 per cent of debenture holders and 99.9 per cent of noteholders... Source: New Zealand Herald - Business | 19 May 2008 | 4:40 am
Treasury is to have oversight of commercial regulation in a move aimed at achieving a more co-ordinated approach to the regulatory system.
Finance Minister Michael Cullen said the change would free up the Ministry of Economic Development... Source: New Zealand Herald - Business | 19 May 2008 | 3:22 am
Microsoft has made a fresh approach to Yahoo about a deal to combine part of their online businesses, though this time the proposal stops short of a full acquisition of the internet media company, Microsoft said Source: FT.com - US homepage | 19 May 2008 | 3:14 am
The bottom should be hit faster, experts say. But the U.S. may have to lean on other sectors for a recovery.
Nearly two years into a housing decline that has resulted in hundreds of thousands of foreclosures, frozen credit markets and dragged the nation's economy toward recession, many Americans hope the end is near.
Investors have slammed MFS Pacific and its Australian parent in a series of angry questions aimed at Chief Executive Jason Maywald during a meeting in Auckland today to vote on MFS Pacific's proposal for a 3 year debt and interest... Source: New Zealand Herald - Business | 19 May 2008 | 12:45 am
Reserve Bank governor Alan Bollard could be cutting official interest rates by September, says an ASB Bank economist.
In a report published this afternoon, bank chief economist Nick Tuffley said the Reserve Bank had "already shifted... Source: New Zealand Herald - Business | 19 May 2008 | 12:30 am
Forget paintballing, quad-biking or zip wires, the latest corporate team-building activity is camel polo, writes Alistair Osborne. Source: Telegraph Business | 19 May 2008 | 12:01 am
With the UK facing an economic slowdown, James Hall travels to five UK cities in five days to assess the impact of the credit crisis on different regions and a range of industries. His investigation begins with Edinburgh's financial services industry Source: Telegraph Business | 19 May 2008 | 12:01 am
Imperial Tobacco is this week expected to launch one of Britain's biggest rights issues when it asks shareholders for up to £5bn. Source: Telegraph Business | 19 May 2008 | 12:01 am
Sir Nigel Rudd, the City grandee, was detained by the US Department of Justice
last week as part of an investigation into bribery allegations against BAE
Systems, the arms manufacturer. Source: Latest Business News from Times Online | 18 May 2008 | 11:00 pm
A chartered accountants body says UK business confidence has fallen to a record low, but that there will be no recession. Source: BBC News | Business | World Edition | 18 May 2008 | 11:00 pm
American Axle and the United Auto Workers union have reached a deal to end a bitter 11-week strike that has epitomised the clash between an uncompetitive industry and a union representing the American auto worker Source: FT.com - US homepage | 18 May 2008 | 10:55 pm
After a strong end to last week, the New Zealand sharemarket opened slightly easier today.
Amid general gloom for the retail sector, clothing chain owner Hallenstein Glasson was down 10c early to 325.
Last Thursday it reported... Source: New Zealand Herald - Business | 18 May 2008 | 10:38 pm
Microsoft Corp said on Sunday it has reached out to Yahoo Inc about an alternative deal that would not involve a full acquisition, in a move that could save the web pioneer from fighting a proxy battle with financier Carl Icahn.
Microsoft... Source: New Zealand Herald - Business | 18 May 2008 | 10:30 pm
Capital International's private equity division is expected to announce it si raising a $2.25bn emerging markets fund Source: FT.com - US homepage | 18 May 2008 | 9:35 pm
JPMorgan Chase has launched an unprecedented campaign to find jobs for more than 5,000 people who are being sacked after its takeover of Bear Stearns Source: FT.com - US homepage | 18 May 2008 | 9:33 pm
Public companies listed in Oman and Kuwait have more women on their boards than in Italy and Japan, highlighting rare gains made by businesswomen in one of the most restrictive parts of the world Source: FT.com - US homepage | 18 May 2008 | 9:33 pm
Warren Buffett, the world's richest man, starts his first big business trip to Europe on Monday in Frankfurt as he seeks buying opportunities among the Continent's largest family-owned companies Source: FT.com - US homepage | 18 May 2008 | 9:33 pm
Leading global fund managers and private equity firms are quietly lining up for a chance to manage another new and significant pool of money in the Middle East – an endowment for a new Saudi university with at least $10bn in assets. Source: FT.com - US homepage | 18 May 2008 | 9:33 pm
Apollo Real Estate Advisors, the private equity fund manager, has created a European commercial property debt business to take advantage of the distress among lenders to the sector. Source: FT.com - US homepage | 18 May 2008 | 9:33 pm
Microsoft Corp said today it has reached out to Yahoo Inc about an alternative deal that would not involve a full acquisition, in a move that could save the web pioneer from fighting a proxy battle with financier Carl Icahn.
National leader John Key was being reckless because he did not know whether his promise of tax cuts "north of $50" were affordable, Finance Minister Michael Cullen said today.
Mr Key has told The Dominion Post that National intended... Source: New Zealand Herald - Business | 18 May 2008 | 7:00 pm
The 138 workers at the PPCS meatworks at Burnside in Dunedin have become the latest casualties of the company's "right-sizing" programme, as it struggles with declining supplies and excess capacity.
PPCS chief executive Keith Cooper... Source: New Zealand Herald - Business | 18 May 2008 | 6:30 pm
A survey measuring activity in the services sector has slipped into decline for the first time since being launched 13 months ago.
The Bank of New Zealand - Business NZ performance of services index was at 48.9 last month, a drop... Source: New Zealand Herald - Business | 18 May 2008 | 6:00 pm
Reuters - Stocks opened little changed on
Monday, with near-record oil prices increasing caution about
inflation and consumer spending and Lowe's Companies
adding to concerns about the housing slump.
Reuters - The fallout from the global credit
crisis is not over yet, U.S. investor Warren Buffett said on
Monday.
Reuters - A potential partnership deal between
Microsoft Corp and Yahoo Inc the companies
revealed over the weekend may prove to be a stepping stone to
an outright acquisition, analysts said on Monday.
Reuters - Retailer Lowe's reported an 18
percent drop in first-quarter profit on Monday as the slumping
U.S. housing market and softer economy hurt sales, and it cut
its full-year profit forecast.
Reuters - Facebook Inc founder and CEO Mark
Zuckerberg stressed his company's independent spirit on Monday,
after a report the social networking site might be sold to
software giant Microsoft , which is hunting for ways to
beef up its Internet business.