Reuters - Gulf oil producer Qatar is free to drop
its peg to the U.S. dollar to tackle inflation, U.S. Treasury
Secretary Henry Paulson said on Sunday.
DOHA (Reuters) - Gulf oil producer Qatar is free to drop its peg to the U.S. dollar to tackle inflation, U.S. Treasury Secretary Henry Paulson said on Sunday.
Railroad stocks have been lifted this year as demand for delivery of raw materials has jumped, and some of them still have room to run, analysts told The New York Times.
The time had to come when the share of the Apple (AAPL) Mac OS would begin to spike. There are too many Macs being sold and the growth rate of the Apple product is running better than improvements from most PC companies like Dell (DELL) and Hewlett-Packard (HPQ). And, what was forecast has come true. According to Fortune "Apple’s share of the operating system market grew 5.69% in May to hit a record 7.80%, while Windows in all its flavors dropped half a basis point to 91.17%. That’s a record low for Microsoft (MSFT)." At the current rate of growth,...
The head of UK mortgage lender Bradford & Bingley quits the firm citing health reasons. Source: BBC News | Business | World Edition | 1 Jun 2008 | 11:16 am
South Korean President Lee Myung-bak showed no signs Sunday of dropping a plan to resume U.S. beef imports, despite nearly 40,000 people holding an anti-government protest marked by... Source: Infocious RSS raw feed - channel BNewsBusiness | 1 Jun 2008 | 11:04 am
As protests flared along the Olympic torch route, games sponsor BHP Billiton Ltd. set up a very different clash of its own: A basketball game against one of the Australian miner's key... Source: Infocious RSS raw feed - channel BNewsBusiness | 1 Jun 2008 | 10:52 am
Reuters - Belgium's InBev NV is close to
securing a $50 billion financing package to enable it to launch
a takeover bid for Anheuser-Busch Cos Inc , maker of
Budweiser beer, the Sunday Telegraph reported.
LONDON (Reuters) - Belgium's InBev NV is close to securing a $50 billion financing package to enable it to launch a takeover bid for Anheuser-Busch Cos Inc , maker of Budweiser beer, the Sunday Telegraph reported.
The weak U.S. dollar, speculation and the subprime crisis are the causes for the spiraling price of oil, OPEC's current president said Saturday. Algerian Energy Minister Chakib Khelil... Source: Infocious RSS raw feed - channel BNewsBusiness | 1 Jun 2008 | 10:33 am
The most valuable things on the floor of the ocean are probably the Titanic and several ship-wrecks with old Spanish coins. There seems to be little else of any worth down with the lanternfish and bristlemouths. It has occurred to the brainy and the greedy that there is something under those doubloons and it is oil, maybe. A number of sovereign nations have decided to claim ocean floor right from Antarctica to the Atlantic. Assuming that there could be undiscovered oil and gas fields in places which have never been surveyed, the rule now is "better safe than sorry." The...
An Indian subsidiary of Vedanta Resources Plc definitively agreed to buy the assets of Asarco LLC, the No. 3 U.S. copper miner, in a bankruptcy-court auction for $2.6 billion cash, the companies said on Saturday.
The health-research arm of the United Nations called on all countries to ban tobacco advertising to prevent young people from taking up the smoking habit.
Reuters - State-controlled Dubai Aerospace
Enterprise (DAE) said it was in talks to buy 50 aircraft worth
a total of about $2.5 billion to expand its leasing business.
DUBAI (Reuters) - State-controlled Dubai Aerospace Enterprise (DAE) said it was in talks to buy 50 aircraft worth a total of about $2.5 billion to expand its leasing business.
The first tropical storm of the 2008 season, Arthur, has formed, and the National Hurricane Center reported on Sunday that it is passing slowly over the Yucatan Peninsula.
America's housing crisis is finally hitting New York City's real-estate market - and that is great news for renters. Wall Street layoffs combined with a glut of new buildings coming on line are finally... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
DISGRACED former governor Eliot Spitzer believes the blockbuster reports that he had a years-long habit of patronizing pricey prostitutes have been sprinkled with lies - and he just might be tempted to... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
WINNERSJIMMY BUFFETTSinger in deal to develop Trump Marina casino, sold to group for about 40% less than "TheDonald" had sought. REX TILLERSONChairman and CEO of ExxonMobil beats down attempt by Rockefeller... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
* Contact one of the three credit-reporting agencies ASAP - Experian, Equifax or TransUnion and let them know your identity has been compromised. This flag will require them to contact you on inquirers... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
Wall Street executives are abandoning expensive limo rides and their gas guzzlers as soaring fuel costs make them sweat - and are opting to bike to work. As gas prices in the city hover over $4 a gallon,... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
The US share of initial public offerings added to the Russell Global Index has declined from 44 percent in 1997 to 27 percent in 2007 - and it may drop to a new low this June when Russell Investments reconstitutes... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
Just as the US economy is beginning to digest the effects of the credit crunch and economic slowdown, a third demon, possibly more crippling, is rearing its head - inflation. The US Treasury market shuddered... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
Dear John: My fiance and I cannot afford to buy a house in any part of New York City and we have a combined annual income of $156,000. If a one-family fixer-upper house costs, on average, $600,000 to $650,000... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
New York Attorney General Andrew Cuomo will get his last chance Tuesday to have four key charges reinstated to the blockbuster lawsuit against former New York Stock Exchange boss Dick Grasso. Cuomo, who... Source: Infocious RSS raw feed - channel BNPaperBusiness | 1 Jun 2008 | 6:59 am
The European Central Bank invites the public this week to celebrate the bank's first 10 years before hosting eurozone finance ministers at a gala event before getting back down to business. Source: Infocious RSS raw feed - channel BNewsBusiness | 1 Jun 2008 | 5:41 am
NEW YORK (Reuters) - JPMorgan Chase & Co said on Saturday it completed its $1.4 billion Bear Stearns Cos takeover, capping the demise of a Wall Street firm that survived the Depression and numerous slumps in its 85 years but could not navigate the mortgage crisis.
The past few years have seen the departure of a bevy of high-profile CEOs. A roster of a half-dozen of the most prominent, and how they're keeping busy.
Democratic party officials dealt a blow to Hillary Clinton by rejecting her calls for Michigan and Florida to have their full voting powers restored in the party's presidential race Source: FT.com - US homepage | 1 Jun 2008 | 2:47 am
MEXICO CITY (Reuters) - Flight attendants at airline Aeromexico plan to strike on Sunday if they do not reach a deal in last-ditch pay talks with Mexico's largest carrier, union sources said, a move that would ground around 300 aircraft.
Kirk Kerkorian may be able to join Carl Icahn as a billionaire who has taken a lot of mad gambles recently. According to Reuters, "Kerkorian's investment vehicle Tracinda Corp said it would continue to tender for 20 million Ford (F) shares at $8.50 each, despite an 18 percent decline in the shares since the offer was launched on May 9." Over the last year or so, Icahn managed to dump money into Motorola (MOT) on the assumption that its handset business could be fixed or sold. Neither has happened. Its global share has gone from a peak of 22% to...
Alan Greenspan has frightened away the specter of economic "bubbles." He spoke and the economy must obey. According to Reuters, the former Fed head said "he does not expect another "bubble" in world markets for a long time, and that central banks at any rate do not control the long-term interest rates that can be related to bubbles." The statement, along with others about housing and the recession, are likely to help him sell his new book. Greenspan's point, which may have the benefit of being true, is that central banks cannot always stop sharp increases in market prices simply...
Pension funds are outstanding when it comes to losing money. Tired of the old ways of just putting money into stocks and bonds, they now invest in private equity, venture capital, derivatives, and commodities futures. Perhaps they have forgotten that they invest on behalf of old people who need that money. Recently the managers of cash for the retired and future retired have put money into mortgage-backed paper and auction-rate securities. No risk is too good for them. Now, it appears that the funds have loaded up on bets that commodities and oil will move up. With these prices finding...
Tivo (TIVO) was such a promising consumer electronics start-up. The firm owned the digital video recorder business and then that was taken away from it by the cable companies, satellite companies, and products ranging from PCs to the Slingbox. There isn't much of Tivo left. Tivo has been able to get a few licks in with the competition by taking them into court for patent infringement. The fighting over IP issues has gotten so bad that it extends to suits over what each company says in public about the others. According to The Wall Street Journal "Dish Network Corp (DISH)....
Wall Street started a short week off with a bang, as U.S. stocks rose Tuesday on upbeat new home sales data and falling oil prices. Wednesday saw better-than-expected durable goods data, which kept the Dow slightly in the green. On Thursday, Wall Street continued its uptrend as oil prices fell once again and encouraging GDP data was released. The TSX was quiet Monday with Wall Street closed for Memorial Day, kept in positive territory by oil and gas stocks. However, on Tuesday, weak earnings releases from both BMO and Scotiabank brought the Canadian markets down. Energy stocks picked the TSX...
THE Russian aluminium group Rusal has begun a City charm offensive to persuade shareholders to elect an independent chairman at Norilsk Nickel. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
HOW can Britain improve its monetary arrangements to avoid boom-bust credit
cycles and inflation overshoots in future? The long time lags involved mean
it is too late to improve this country’s not particularly rosy but by no
means catastrophic prospects over the next year or so. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
IT is not just Bradford & Bingley, the mortgage bank, that is going to have to
issue a profit warning. Just about every quoted company that has benefited
from the last property boom — from housebuilders and estate agents to
financial services and developers — is seeing profits go into freefall. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
PATRICK SNOWBALL is stepping down from the board of Towergate following the
insurer’s decision to shelve plans for a £3 billion listing. His shock exit
as deputy chairman comes only a year after he left Aviva. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
THE FOUNDER of Budweiser’s brewing empire, Adolphus Busch, was one of
America’s most remarkable imports. The youngest of 21 German children, he
emigrated to America in 1857, married into an established brewing business
and set about building one of the world’s biggest beer companies. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
FURNITURE retailer Land of Leather has called in KPMG, the accountant, to advise on the renegotiation of bank facilities before its year-end in July. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
FOR Arun Sarin, there is travelling, and then there is travelling. Two months
from retirement, he and his wife, Rummi, are preparing for plenty of the
second kind. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
THE billionaire Reuben brothers are gearing up for a £1.5 billion flotation of
Global Switch, the data-centre company. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
AMERICAN fund management giant Federated Investors has emerged as one of the frontrunners in the €700m (£550m) auction of Artemis. Source: Latest Business News from Times Online | 31 May 2008 | 11:00 pm
CSX (CSX) is raising freight rates. So is Burlington Northern (BNI). Their diesel costs are up, and they need to pass them on to customers. Dow Chemical (DOW) said it would raise the prices of some of its products by 20%. The firm's commodities and component costs have gone through the roof. The latest American icon to say it would have to push up prices to customers is Eastman Kodak (EK). Unlike many other companies that want to recoup costs of goods, Kodak is financially weak and has customers who may simply walk away. According to The Wall Street Journal,...
NEW DELHI/MUMBAI (Reuters) - India's Sterlite Industries on Saturday agreed to buy the operating assets of bankrupt copper miner Asarco for $2.6 billion, the latest in the series of overseas acquisitions by Indian firms.
SPRINGFIELD, Ill., May 31 /PRNewswire-USNewswire/ -- Thousands of older Illinoisans received good news today from the Illinois legislature. Both houses of the General... Source: Infocious RSS raw feed - channel BNewsBusiness | 31 May 2008 | 9:50 pm
A MarketWatch report on Abbott Laboratories’ TriLipix drug misstated the stand-alone drug in the comparison for bad cholesterol reduction. The study showed that bad cholesterol was reduced an average of up to 39% using a combination of TriLipix and Crestor, compared with about 7% using TriLipix alone.
Reuters - The global economy is threatened by
continuing weaknesses in the U.S. economy and rising energy and
raw materials prices, European Central Bank Governing Council
member Mario Draghi said on Saturday.
It's not just concern for the squeamish biology students who wince at the feel and smell of cutting into a formaldehyde-soaked animal. Think about the frog. The pig. Or even the rat. Source: Infocious RSS raw feed - channel BNewsBusiness | 31 May 2008 | 7:11 pm
German energy group RWE proposed Saturday to sell off its 4,100 kilometres (2,500 miles) of gas transmission network in order to avoid a drawn-out anti-trust battle with the European... Source: Infocious RSS raw feed - channel BNewsBusiness | 31 May 2008 | 7:08 pm
ACT Leader Rodney Hide's attempt to pass a law cutting red tape looks set to be shot down by MPs because they fear it could see Parliament's law making questioned in the courts.
The Regulatory Responsibility Bill went into select... Source: New Zealand Herald - Business | 31 May 2008 | 7:00 pm
The International Labour Organisation expressed its concern Saturday that the Myanmar ruling military junta will use forced labour to rebuild areas of the country devastated by Cyclone... Source: Infocious RSS raw feed - channel BNewsBusiness | 31 May 2008 | 5:45 pm
Spanish Prime Minister Jose Luis Rodriguez Zapatero said Saturday his government is planning new measures to stimulate economic growth and make Spanish business more competitive. Source: Infocious RSS raw feed - channel BNewsBusiness | 31 May 2008 | 5:38 pm
With big banks hiking their popular shorter term fixed mortgage rates again last week, experts say now is the time for borrowers to negotiate over rates and payment methods.
Just a small change in interest rate can make an enormous... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
Air New Zealand's chief executive Rob Fyfe has already pocketed some benefits from the China free-trade deal.
Air New Zealand will take business leaders on its inaugural flight to Beijing next month to celebrate the launch of its... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
Kiwis wanting to get on top of money management need to apply their DIY attitude - not look to a financial fairy godmother to do it for them.
That's the word from investment manager Gareth Morgan, who told the Herald on Sunday... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
Dairy giant Fonterra last night backed away from further price hikes after Green Party co-leader Jeanette Fitzsimons challenged it to make its products affordable for New Zealanders.
The co-operative has been accused of creaming... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
Mark Lowndes, a partner and commercial lawyer at Lowndes Associates, on managing a business sale in less buoyant times
How is the mergers and acquisitions market doing?
Mergers and business sales and purchases are continuing.... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
What is it called and what sort of savings product is it?
The Liontamer Fallen Angels 1 Fund is a capital-protected fund that invests in a basket of 16 global companies, which it considers to be oversold relative to underlying value.... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
You can hard, you're a two-income household, why shouldn't you have what all your friends have? A newer car, a flat-screen TV, brand-name trainers for the kids. No cash? Easy - whack it on the store card or credit card, or get a loan.
For... Source: New Zealand Herald - Business | 31 May 2008 | 5:00 pm
Some 20,000 protestors took to the streets in Seoul Saturday, urging the government to call off its decision to resume US beef imports in the coming week, witnesses said. ... Source: Infocious RSS raw feed - channel BNewsBusiness | 31 May 2008 | 4:45 pm
Reuters - JPMorgan Chase & Co said on
Saturday it completed its $1.4 billion Bear Stearns Cos
takeover, capping the demise of a Wall Street firm that
survived the Depression and numerous slumps in its 85 years but
could not navigate the mortgage crisis.
This week set one specific outcome in motion: price hikes equals inflation. We saw several major producers announce price hikes, and that is on the heels of other price hikes elsewhere that have been announced since the first of the year. Last weekend we noted how rates were pricing in a 100 basis point rise by the end of next summer. We also noted how CPI actually looked ok earlier in May, so long as you don't count food and groceries and other staples. This week it was none other than Dow Chemical Co. (NYSE: DOW) that kicked things off...
NEW YORK (Reuters) - The U.S. commodity markets' chief
regulator will unveil policy changes next week meant to address
public and political concerns that market malfunctions may be
contributing to rising food and energy prices, The New York
Times reported on Saturday.
Reuters - The U.S. commodity markets' chief
regulator will unveil policy changes next week meant to address
public and political concerns that market malfunctions may be
contributing to rising food and energy prices, The New York
Times reported on Saturday.
Amid soaring oil prices that some say are caused by nothing more than rampant speculation, the government Thursday announced a wide ranging probe into oil price manipulation and said it would get more information on the effect investors are having on the market.
Reuters - Gulf oil producer Qatar is free to drop
its peg to the U.S. dollar to tackle inflation, U.S. Treasury
Secretary Henry Paulson said on Sunday.
Reuters - Belgium's InBev NV is close to
securing a $50 billion financing package to enable it to launch
a takeover bid for Anheuser-Busch Cos Inc , maker of
Budweiser beer, the Sunday Telegraph reported.
Reuters - State-controlled Dubai Aerospace
Enterprise (DAE) said it was in talks to buy 50 aircraft worth
a total of about $2.5 billion to expand its leasing business.
Reuters - The global economy is threatened by
continuing weaknesses in the U.S. economy and rising energy and
raw materials prices, European Central Bank Governing Council
member Mario Draghi said on Saturday.
Reuters - JPMorgan Chase & Co said on
Saturday it completed its $1.4 billion Bear Stearns Cos
takeover, capping the demise of a Wall Street firm that
survived the Depression and numerous slumps in its 85 years but
could not navigate the mortgage crisis.
Reuters - The U.S. commodity markets' chief
regulator will unveil policy changes next week meant to address
public and political concerns that market malfunctions may be
contributing to rising food and energy prices, The New York
Times reported on Saturday.