That economic rebound in the second half of the year so many experts have predicted _ including Federal Reserve Chairman Ben Bernanke himself _ is starting to look dicey. Wall Street... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 6:24 pm
Two magic words are turning consumers' heads lately. Not "Get rich" or "Lose weight." Try "Free gas." Businesses from banks and hotels to golf-club makers and blood-donation centers are... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 6:19 pm
Investors will be paying close attention to Lehman Brothers at the start of the week after reports the company may announce its second-quarter results ahead of schedule and unveil a plan to raise additional capital.
The price of crude oil is set to rise even further to 150 dollars a barrel by the end of summer, Iran's representative to the OPEC oil cartel warned on Sunday. "I foresee the Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 5:27 pm
The local stock market faces a severe test of its underlying strength today after US investors were panicked by worse than expected unemployment figures and a dramatic oil price spike.
The double blow caused already jittery US... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
The Elliots have been farming Lammermoor Station for the past three generations and want to see their children do the same.
Tired of being battered by the crippling fluctuations in prices for the fine wool, sheep meat and beef... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
Organisers are tipping farmers will open their wallets at this week's New Zealand National Agricultural Fieldays despite a tough season for many sectors.
Fieldays general manager Barry Quayle says overall the mood at the show will... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
Middle-class Chinese with a penchant for fine wine simply can not get enough Hawkes Bay red.
Earlier this year the most expensive container New Zealand wine producer Babich Wines has ever sold was sent to China's Guangzhou province.
General... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
Challenging "compliance creep" in the building design sector is one of the main aims of Richard Harris, the new president of the New Zealand Institute of Architects.
A director of prominent Auckland architectural practice Jasmax,... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
BRUSSELS - The European Union is cool on prospects for a significant breakthrough on a long-stalled world trade deal this week when negotiations resume in Geneva.
EU spokesman Peter Powers said a meeting of trade ministers on Friday... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
There are few words economists like less than "recession" but one of them - "stagflation" - has reared its head in the US.
The "S" word occurs when an economy gets hit with high inflation while still suffering from slowing growth... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
H. Lee Scott, Wal-Mart's chief executive officer for the past eight years, is reaping the benefits of demand for his retailer's discounted goods as the economy slumps and prices soar.
Rising gasoline, food and medical costs will... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
SAN FRANCISCO - The world's leading semiconductor maker Intel faces a formal investigation by the US Federal Trade Commission (FTC) after fighting similar antitrust probes in Europe and Asia, the company said on Friday.
Smaller... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
Virgin Blue, the Australian low-cost airline partially owned by British billionaire Richard Branson, is considering charging passengers to check luggage, chief executive officer Brett Godfrey said.
"A bag costs us more to put through... Source: New Zealand Herald - Business | 8 Jun 2008 | 5:00 pm
Spanish fishermen and truck drivers stepped up their national strike against rising fuel prices Sunday, staging direct action to disrupt public events. In the morning, truck... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 4:42 pm
NEW YORK, June 8 /PRNewswire/ -- Hopes for a quick economic turnaround were essentially dashed on Friday when the Labor Department reported that American employers axed... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 4:18 pm
While the Topps Meat Co. churned out millions of frozen hamburgers a month, beef ground one day was often stored and "reworked" with meat from another production cycle, government... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 4:16 pm
The average U.S. price for gasoline rises to an all-time high above $4.00 a gallon, following the spike in crude oil futures, with some analysts saying speculation may be the culprit.
U.K. banking giant Barclays, which has faced pressure over its capital position, is seeking to raise cash from overseas sovereign wealth funds, according to the Sunday Telegraph.
Energy ministers from top industrialised nations have met in Japan as oil prices threaten the global economy. Source: BBC News | Business | World Edition | 8 Jun 2008 | 3:40 pm
A Swiss investment firm has made an offer for struggling business airline Silverjet, a report says. Source: BBC News | Business | World Edition | 8 Jun 2008 | 3:32 pm
Neville Isdell is an imposing figure; more than six feet tall and solidly built, he is often referred to in the media as a former rugby player, a reference to his sporting days at university in South Africa... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 3:21 pm
For a company credited with many serious scientific achievements, Corning expends a lot of hot air. The air containing exhaust gases from car engines is being produced to test the performance of new... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 3:21 pm
Reuters - Wall Street may be in for a rocky ride
this week as investors recall Friday's triple threat -- oil at
a record above $139 a barrel, a troubling unemployment report
and the stock market's 3 percent drop -- while they await
inflation data for May.
NEW YORK (Reuters) - Wall Street may be in for a rocky ride this week as investors recall Friday's triple threat -- oil at a record above $139 a barrel, a troubling unemployment report and the stock market's 3 percent drop -- while they await inflation data for May.
Checked out the bestseller lists lately? In February you would have spotted motivational expert Marci Shimoff's "Happy for No Reason," which claims to teach you "how to experience sustained happiness for the rest of your life." In March came "The Geography of Bliss" by journalist Eric Weiner, a travelogue of places on Earth where people are the happiest. Both of these follow on the heels of "Stumbling on Happiness" by Harvard psychologist Dan Gilbert, which has been translated into 20 languages.
Reuters - OPEC members saw no need on Sunday to
pump more oil in response to last week's double-digit surge in
oil prices to over $139 a barrel that top exporter Saudi Arabia
described as unjustified. Source: Yahoo! News: Business | 8 Jun 2008 | 3:04 pm
DUBAI (Reuters) - OPEC members saw no need on Sunday to pump more oil in response to last week's double-digit surge in oil prices to over $139 a barrel that top exporter Saudi Arabia described as unjustified.
Reuters - The economic downturn in the United
States may not be as steep as feared but the crisis in global
financial markets will hit bank earnings, Germany's Deputy
Finance Minister Thomas Mirow said on Sunday. Source: Yahoo! News: Business | 8 Jun 2008 | 2:34 pm
Reuters - The economic downturn in the United
States may not be as steep as feared but the crisis in global
financial markets will hit bank earnings, Germany's Deputy
Finance Minister Thomas Mirow said on Sunday. Source: Yahoo! News: Business | 8 Jun 2008 | 2:34 pm
BERLIN (Reuters) - The economic downturn in the United States may not be as steep as feared but the crisis in global financial markets will hit bank earnings, Germany's Deputy Finance... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 2:34 pm
BERLIN (Reuters) - The economic downturn in the United States may not be as steep as feared but the crisis in global financial markets will hit bank earnings, Germany's Deputy Finance Minister Thomas Mirow said on Sunday.
The average U.S. price for gasoline rises to an all-time high above $4.00 a gallon, following the spike in crude oil futures, with some analysts saying speculation may be the culprit.
SAN FRANCISCO, June 8 /PRNewswire/ -- Today, the Contemporary Jewish Museum (CJM) opens its new Daniel Libeskind-designed building located at 736 Mission Street (between... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 2:00 pm
Charlie Bean, the Bank of England's chief economist, is set to become the Bank's new deputy governor. Source: Telegraph Business | 8 Jun 2008 | 1:45 pm
French state-owned energy giant EDF should get the green light to take over the country's leading nuclear energy producer within a fortnight, a newspaper said Sunday. An... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 1:25 pm
Drivers are paying an average of $4 for a gallon of gasoline for the first time. AAA and the Oil Price Information Service say the national average price for a gallon of regular gas rose... Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Jun 2008 | 1:12 pm
Stocks will enter the second week of June with renewed uncertainty about the outlook for the ailing U.S. economy, after shocking news that the U.S. jobless rate jumped to 5.5% while crude prices soared to a record near $140 a barrel.
Royal Bank of Scotland saw more than 90% of investors sign up to a £12bn rights issue, reports suggest. Source: BBC News | Business | World Edition | 8 Jun 2008 | 11:31 am
O2, which has the exlusive distribution rights to the Apple (AAPL) iPhone in the UK, may give away free 3G versions of the handset when it comes out next week. Why? If a customer is willing to take out a huge contract for cellular voice and data service, it may make sense for O2 to throw in the handset. Based in industry information, the cost of the new iPhone will be about $400. The carrier can charge its customers some portion or even all of that. Or, it can offer discounts or free phones to those who will shell out...
Due to slowing GDP growth in the West, especially in the US, and constant and rapid GDP growth in the BRIC nations, their portion of the global economy will be much larger than estimated during the next few years. BRIC stands for Brazil, Russia, India and China. According to Reuters, "Jim O'Neill, the Goldman Sachs economist who originated the term in 2003, said the financial crisis that began in U.S. mortgage security markets was allowing the BRIC countries to take a bigger share of world gross domestic product".
The Bank of England is to name chief economist Charles Bean as its deputy governor, a report suggests. Source: BBC News | Business | World Edition | 8 Jun 2008 | 10:31 am
We rarely publish reader comments or letters, but we want to pass along one from Kirit Vora, who has an MIT e-mail address, and may be the same man who is president of staff at William Beaumont Hospital-Troy and a well-known urinary incontinence expert. In his note he claims he has heard that the CEO of China Mobile, Wang Jianzhou, will be onstage with Apple's (AAPL) Steve Jobs at WWDC on Monday. We just thought we should let people know. The Vora we found is a member of the American Urological Association and American Association of Clinical Urologists. Douglas A....
DUBAI (Reuters) - A Swiss investment company said on Sunday it had made an offer to buy and relaunch Britain's business class-only airline Silverjet which collapsed last month.
Dear John: I read your article about oil in Montana. Why are we not hearing about this on TV or in other newspapers? Derek Dear John: I cannot understand for the life of me why [the Montana oil story]... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
One week after the yield on the 10-year note broke through 4 percent, fixed-rate mortgages tacked on six basis points to reach a national average price of 6.26 percent, according to bankrate.com Rates... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
Richard Fuld, chief executive of Lehman Brothers, had been sitting pretty atop the investment banking hierarchy during the mounting subprime-induced credit crisis that began to take hold of Wall Street... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
Apple CEO Steve Jobs is going to start doing some BlackBerry picking tomorrow - as in picking off some business from the No. 1 smart-phone brand in the country. The tech whiz is poised to unveil a revolutionary... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
BAN the speculators! Ban the speculators! That's become the rallying cry of late in Congress where speculators have replaced Arab oil pashas as public enemy No. 1 with the US consumer. You know the argument... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
Forget July 4, one more day like Friday and Americans could be staring at $150 per barrel oil by Fathers' Day. Investors are spending a nervous weekend worrying if oil - up 44 percent already in 2008... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
WINNERSCHRIS HOHNHead of activist hedge fund gets SEC backing in battle with CSX.CHARLES WIEGERTThe St. Louis businessman fights MLB over the right to run his fantasy baseball league - and wins.ANDREW... Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Jun 2008 | 8:13 am
The number of home owners who have had their properties repossessed has increased substantially since last year, figures are expected to show. Source: Telegraph Business | 8 Jun 2008 | 7:55 am
KUWAIT (Reuters) - Kuwait's Agility , the Gulf's biggest logistics provider by market value, is set to sign a $2.5 billion deal with the U.S. army in July, a newspaper reported on Sunday.
To fight off a recession, Congress had the brilliant idea of giving consumers $100 billion or so to spend this summer. The only thing was they didn’t plan on gasoline going to $4 a gallon.
Network Rail has begun to put out feelers to find replacements for its chairman Sir Ian McAllister and at least two non-executive directors. Source: Telegraph Business | 8 Jun 2008 | 12:01 am
A year after Europe's biggest leveraged buyout at Alliance Boots, strong results are set to prove doubters wrong, says James Hall. Source: Telegraph Business | 8 Jun 2008 | 12:01 am
Britain's top banking executives will this week hold showdown talks with Alistair Darling about his failure to consult them over the non-doms and corporation tax fiascos, The Sunday Telegraph has learned. Source: Telegraph Business | 8 Jun 2008 | 12:01 am
The colonisation of the FTSE 100 by foreign resources companies will continue this week when Ferrexpo, the Ukrainian iron ore producer, is catapulted into the blue chip index. Source: Telegraph Business | 8 Jun 2008 | 12:01 am
When members of the European Central Bank’s governing council met in Frankfurt
last Thursday, it was to celebrate a birthday. Ten years ago the ECB came
into being, a few months before the launch of Europe’s single currency, the
euro. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
TOP executives at two of Britain’s largest publishing companies have held
talks about a merger that would create a £3 billion FTSE 100 media group. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
MINI-INVESTMENT bank First London Securities is set to buy Belgravia’s
asset-management arm, the firm once linked with a bid for Newcastle United
football club, for £32m. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
THE surge in oil prices to a record level of more than $139 a barrel on Friday
has left the economy facing a severe $“stagflationary” shock, economists say,
with a rising risk of recession alongside high inflation. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
THE founder and former boss of Stanley Leisure, one of Britain’s biggest
betting firms, is to invest in and chair an American business that has
developed an electronic, scratchcard-style game. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
I APPLAUD Peter Montagnon, director of investment affairs at the Association
of British Insurers (ABI), for trying to uphold principles and make sure bad
precedents are not being set. I am referring, of course, to last weekend’s
rescue of Bradford & Bingley, the mortgage bank, where its two financial
advisers, UBS and Citigroup, were released from a legal agreement to
underwrite a £300m rights issue at 82p per share. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
ALLIANCE BOOTS will this week buck the gloom on the high street when the
pharmacy chain reports a 20% increase in trading profits during its first
year as a private company. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
CHARLIE BEAN, the Bank of England’s chief economist, is to get the job of Bank deputy governor to replace Rachel Lomax. It follows a battle with the Treasury over whether the job should have been given to a financial-stability expert following the Northern Rock debacle. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
NEXT has become the latest FTSE 100 company to scale back targets for its executive-incentive plan. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
EDUCATION group Nord Anglia has rejected a £180m takeover approach from an overseas private-equity firm that was pitched at a 45% premium to its current share price. Source: Latest Business News from Times Online | 7 Jun 2008 | 11:00 pm
Da' Tara beats Triple Crown hopeful Big Brown in the $1 million Belmont Stakes race, dashing fans' hopes of ending a 30-year drought of Triple Crown winners.
Apple (AAPL) may be short on materials for its new 3G iPhone which is set to be released next week. If the news is true, watch Apple's shares drop from their current level of $185 to below $160. According to Barron's, "sources say that Apple has slashed its internal expectations for iPhone unit sales by up to 16%. They report that Apple had planned to ship 12 million 3G units by the end of the third quarter, but now expects to ship about 10 million to 10.5 million by the fourth quarter, owing to production delays." For Apple stockholders, the...
Stocks will enter the second week of June with renewed uncertainty about the outlook for the ailing U.S. economy, after shocking news that the U.S. jobless rate jumped to 5.5% while crude prices soared to a record near $140 a barrel.
Hillary Clinton threw her 'full support' behind Barack Obama and urged her supporters to do the same as she ended her bid to become America's first woman president Source: FT.com - US homepage | 7 Jun 2008 | 7:52 pm
To friends, the idea that Craig Gile would end up in prison just didn't make sense. He was the guy on the tennis court who went out of his way to correct line calls.
Barack Obama's emergence as the presumptive Democratic nominee on Tuesday sets the stage for a sharp partisan debate over the issue weighing most heavily on voters: the economy.
Magnetic induction may just be the best technology to hit the kitchen since the microwave oven. In the past few years this style of cooktop, which turns magnetic energy into heat, has proved itself a worthy competitor to the traditional choices - gas and electric.
Russian president Dmitry Medvedev blamed the US and its banks in large part for provoking today's financial crisis - and pushed for a role for Russia in finding a way out of the turmoil Source: FT.com - US homepage | 7 Jun 2008 | 6:44 pm
Reuters - Wall Street may be in for a rocky ride
this week as investors recall Friday's triple threat -- oil at
a record above $139 a barrel, a troubling unemployment report
and the stock market's 3 percent drop -- while they await
inflation data for May.