World Business News Headlines for July 5, 2008

Even computer 'wipers' leave a mark

Source: L.A. Times - Business | 6 Jul 2008 | 7:00 am

Consumer briefs

Source: L.A. Times - Business | 6 Jul 2008 | 7:00 am

Don't fall for the 'wire the money' pitch

Source: L.A. Times - Business | 6 Jul 2008 | 7:00 am

Do you take his debt when you tie the knot?

Source: L.A. Times - Business | 6 Jul 2008 | 7:00 am

Tihanyi twins on quite a ride with Surf Diva

Source: L.A. Times - Business | 6 Jul 2008 | 7:00 am

Fixing a real-estate retirement strategy

A big reason that Fiona Saulness has saved as much as she has for retirement is real estate.

Source: Business and financial news - CNNMoney.com | 5 Jul 2008 | 12:13 pm

Real Estate: Vultures swoop in

Rock-bottom home prices have finally begun to lure vulture real estate investors into the fray.

Source: Business and financial news - CNNMoney.com | 5 Jul 2008 | 12:06 pm

Stuck with an SUV

Source: Business and financial news - CNNMoney.com | 5 Jul 2008 | 12:00 pm

Gas prices hold in record territory

The high cost of gas is one thing Americans won't be celebrating on July 4.

Source: Business and financial news - CNNMoney.com | 5 Jul 2008 | 11:59 am

Personal Finance Daily: The week's 10 best Personal Finance stories: June 30-July 4

In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of June 30-July4:

Source: MarketWatch.com - Top Stories | 5 Jul 2008 | 11:13 am

Market Snapshot: Stock market braces for oil's ever-higher climb

Stocks could be in for further pressure next week, as surging crude oil prices threaten to tip the broad market more convincingly into bear-market territory.

Source: MarketWatch.com - Top Stories | 5 Jul 2008 | 8:00 am

Iran inflation tops 26 percent

Iran's inflation rate, which has provoked intense criticism of the government, topped 26 percent in June, according to a central bank statement published in the press on Saturday.
Source: Infocious RSS raw feed - channel BNewsBusiness | 5 Jul 2008 | 7:04 am

Small-cap stock run could herald broader recovery

Even as Wall Street skids lower almost by the day, and the major indexes have touched the levels of a bear market, some analysts are actually finding some signs in the performance of...
Source: Infocious RSS raw feed - channel BNewsBusiness | 5 Jul 2008 | 7:04 am

Bitter lessons learned from refinancing

Source: L.A. Times - Business | 5 Jul 2008 | 7:00 am

Drillers begin quest for oil, gas off Florida

Source: L.A. Times - Business | 5 Jul 2008 | 7:00 am

Sales of RVs careen off the road

Source: Infocious RSS raw feed - channel BNPaperBusiness | 5 Jul 2008 | 7:00 am

Sales of RVs careen off the road

Source: L.A. Times - Business | 5 Jul 2008 | 7:00 am

Stocks & Bonds: Shares Decline in Japan for 12th Consecutive Day

European markets fell and Asian markets were mixed Friday as investors digested uneven readings on the United States economy and oil prices remained near records.
Source: Infocious RSS raw feed - channel BNPaperBusiness | 5 Jul 2008 | 5:40 am

Hyundai union calls for work stoppage next week

SEOUL (Reuters) - Unionized employees of Hyundai Motor Co will walk off the job for four hours next week to push for a pay increase, the auto maker's union said on Saturday.

Source: Reuters: Business News | 5 Jul 2008 | 4:37 am

Smooth sailing for yacht builders despite economy (AP)

AP - Fuel prices are soaring and credit markets tightening, but the super-rich are still lining up to pay tens of millions of dollars for mega yachts.

Source: Yahoo! News: Business | 5 Jul 2008 | 4:21 am

Shares Decline in Japan for 12th Consecutive Day

Business Briefing | Housing: British Housing Downturn Claims a Casualty

The London inner-city property developer City Lofts Group said on Friday that it had appointed Ernst & Young as administrator, becoming one of the first notable casualties of Britains housing downturn...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 5 Jul 2008 | 3:57 am

Business Briefing | Acquisitions: Europe Delays Decision on Mining Company Merger

European Union regulators extended an investigation into BHP Billitons hostile bid for the Rio Tinto Group because of serious doubts about the combination.
Source: Infocious RSS raw feed - channel BNPaperBusiness | 5 Jul 2008 | 3:56 am

Hyundai union calls for work stoppage next week (Reuters)

Reuters - Unionized employees of Hyundai Motor Co (005380.KS) will walk off the job for four hours next week to push for a pay increase, the auto maker's union said on Saturday.

Source: Yahoo! News: Business | 5 Jul 2008 | 3:11 am

Hyundai union calls for work stoppage next week

SEOUL (Reuters) - Unionized employees of Hyundai Motor Co will walk off the job for four hours next week to push for a pay increase, the auto maker's union said on Saturday.
Source: Infocious RSS raw feed - channel BNewsBusiness | 5 Jul 2008 | 3:11 am

Goldman Sachs suffers blow to reputation after Bradford & Bingley deal collapses

This time, Wall Street's most profitable investment bank may have slipped up. That was the feeling in the City yesterday after the collapse of the deal it brokered to bring Texas Pacific Group to the rescue of Bradford & Bingley.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

Flying Brands shuts greetings cards arm

Home shopping group Flying Brands is to close its Greetings Direct business following an "extremely disappointing" performance in the US.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

Credit crisis: Negative equity threat spreading for homeowners

One in eight homeowners who took out a home loan since the start of last year are already in negative equity, with tens of thousands now exposed to financial trouble from falling house prices.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

Bradford and Bingley pullout may spell the end for TPG in Britain

Is it all over for Texas Pacific Group in the UK? Many in the City were left open-mouthed by TPG chief David Bonderman's eleventh-hour decision to pull out from a rescue capital raising for Bradford & Bingley.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

Credit Crunch: Bland is back as shoppers ditch bright clothes

Clothes shoppers are ditching bright colours in favour of bland-coloured, simply styled garments as the credit crisis forces them to reassess their wardrobes.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

City Lofts survival fight ends in administration

City Lofts, the legendary property developer that brought us "loft living" has been put into administration.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

JC Flowers eyes bombed-out banks after Bradford & Bingley deal fails

Pressure mounts on Bradford & Bingley chairman Rod Kent as regulator warms to consolidation of beleaguered lenders
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

TDG backs Laxey takeover despite lower price

TDG, the distribution company for J Sainsbury, Argos and ICI Paints, has finally agreed to a £203m cash takeover by Laxey Partners - but at a lower price than the investment firm's initial proposal.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

Currencies

Currencies
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

Vodafone wins key Luxembourg tax ruling

Britain's hard pressed companies have won a major victory over the taxman who was been dealt a massive blow by a High Court ruling involving billions of pounds.
Source: Telegraph Business | 5 Jul 2008 | 12:01 am

BHP Billiton's bid for Rio Tinto investigated by EU

The European Union has begun a full investigation into BHP Billiton's proposed $170billion ($£85.8billion)takeover of Rio Tinto, its rival.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Shares tumble as global bear market takes grip

Leading shares around the world fell further into the grip of a global bear market last night as fretful investors took flight from equities fearing a dire combination of surging inflationary pressures and faltering growth.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Origin Energy rejects £13bn bid from BG Group

Origin Energy rejected a $13 billion ($£6.55 billion) bid from BG Group yesterday, urging its shareholders to hold out for better value for the Australian company's coal seam gas resource.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Linklaters reveals record profits on back of emerging markets

Linklaters capped an extraordinary year for the City's leading law firms yesterday by announcing a record turnover of £1.2 billion, but failed to overtake Clifford Chance as the world's largest firm.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

John Lewis cites 'delicate' economy as sales fall

One of the most senior executives at John Lewis said yesterday that he feared the economy was at a delicate point as the department store group reported its worst weekly sales fall for three years.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Is there a point to business training?

Ageing, as you'll know from following Sir Terry Wogan's career, can be a cruel business and the most terrible symptoms, apart my very specific problem that I seem to resemble fellow knight Salman Rushdie a bit more every day, are increased grumpiness and a tendency to repeat oneself.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Trouble on the buses as many pensioners go free

Bus operators and local authorities are at loggerheads over a government scheme that gives pensioners free bus travel amid fears that ministers have seriously underestimated the costs of the £1 billion scheme.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Overcharged British Airways and Virgin Atlantic passengers to claim compensation

Millions of Britons who flew across the Atlantic between two and four years ago are being invited to claim a share of more than £70 million that has been ordered to be handed over to them.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Moody's says business models of many airlines 'are unsustainable'

In a deeply pessimistic assessment of the American airline industry, Moody's, the credit ratings agency, said yesterday that the business models of many carriers were “unsustainable”. The agency's analysts said that US airlines were particularly vulnerable to high oil prices and even large carriers could be forced into bankruptcy.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Cooking oil waste gives new twist to takeaway

Never has it been more profitable to grease the wheels of business by illicit means. Rocketing prices have prompted a rash of grease thefts from outside fast food joints.
Source: Latest Business News from Times Online | 4 Jul 2008 | 11:00 pm

Pennsylvania Governor Rendell Says New Budget Promotes Economic Development; Improves Safety for Bridges, Dams, Rail, Aviation

HARRISBURG, Pa., July 4 /PRNewswire-USNewswire/ -- Despite a struggling national economy, Pennsylvania is aggressively tackling bridge repairs, water and sewer...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 10:54 pm

Bell Canada's $35 bln deal marks largest leveraged buyout

Bell Canada puts the finishing touches on a $52 billion deal to go private in the largest leveraged buyout in history, despite the credit crunch.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 9:55 pm

Earnings Outlook: Corporate earnings on track for fourth straight quarterly drop

The profits of large U.S. companies are poised for their fourth straight year-over-year drop, with the housing market collapse and high energy prices accounting for much of the second quarter's pain.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 9:43 pm

Toronto Dominion hit by UK derivatives charge

Toronto-Dominion Bank, Canada's second-largest bank, said it would take a pretax charge of about C$96m for the mispricing of derivatives by a senior trader who has left the London office of its investment dealer unit.
Source: FT.com - US homepage | 4 Jul 2008 | 9:29 pm

Former WSJ editor heads race at W Post

The next editor of the Washington Post will be mandated to accelerate the combination of its print and online divisions, according to people familiar with a search that is expected to end early next week
Source: FT.com - US homepage | 4 Jul 2008 | 9:15 pm

'Anti-China' groups threaten Olympics

A top Beijing security official has warned that hostile movements are intensifying their efforts to sabotage next month's games
Source: FT.com - US homepage | 4 Jul 2008 | 9:13 pm

BCE buyers finalize funding (Reuters)

Reuters - Announcing what it said were "essential milestones" allowing the world's largest leveraged buyout to go ahead, BCE Inc said on Friday that its buyers had finalized funding and were sticking to their C$34.8-billion ($34.1 billion) purchase price.

Source: Yahoo! News: Business | 4 Jul 2008 | 9:01 pm

BCE buyers finalize funding

TORONTO (Reuters) - Announcing what it said were "essential milestones" allowing the world's largest leveraged buyout to go ahead, BCE Inc said on Friday that its buyers had finalized funding and were sticking to their C$34.8-billion ($34.1 billion) purchase price.

Source: Reuters: Business News | 4 Jul 2008 | 9:00 pm

NewsWatch: Banks drag Europe stocks lower after Goldman note

European shares lost ground on Friday as financials gave back recent gains, as worries mounted about potential fund raising even as UBS said it didn’t need to raise any fresh cash in the second quarter.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 9:00 pm

EU widens Billiton-Rio Tinto probe

The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concerns about...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 8:52 pm

UK investors rescue B&B cash call

Bradford & Bingley confirms that its plan to raise £400m has been rescued by a group of UK investors.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 8:49 pm

Iran optimism steadies oil price

The price of oil falls slightly on hopes Iran will react well to plans to resolve a dispute over its nuclear development.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 8:45 pm

Footsie nears bear market territory

The FTSE 100 index closed on Friday at its lowest level since November 2005 as it threatened to join counterparts in Asia, the US and Europe in bear market territory
Source: FT.com - US homepage | 4 Jul 2008 | 8:02 pm

Champions of Thunder Horse have little to cheer

Engineering problems have thrown cold water on celebrations for the first oil produced from the troubled BP oil platform in the Gulf of Mexico
Source: FT.com - US homepage | 4 Jul 2008 | 7:42 pm

World stocks fall on financial shares, oil drops (Reuters)

Reuters - World stocks edged lower on Friday, getting no relief from a decline in crude prices as concerns of further banking write-downs weighed on financial shares.

Source: Yahoo! News: Business | 4 Jul 2008 | 7:35 pm

World stocks fall on financial shares, oil drops

SAO PAULO (Reuters) - World stocks edged lower on Friday, getting no relief from a decline in crude prices as concerns of further banking write-downs weighed on financial shares.

Source: Reuters: Business News | 4 Jul 2008 | 7:35 pm

French regulator fines SocGen record €4m

Senior executives at Société Générale faced renewed criticism after France's banking regulator slapped its biggest-ever fine for risk control failures on the bank following its inquiry into a €4.9bn rogue trading scandal
Source: FT.com - US homepage | 4 Jul 2008 | 7:28 pm

Blog: Ending tussle, Google adds privacy link to home page

Source: L.A. Times - Business | 4 Jul 2008 | 7:09 pm

Barroso at odds with Sarkozy on ECB

Europe's divisions over inflation were highlighted on Friday when José Manuel Barroso, European Commission president, defended the European Central Bank against political critics
Source: FT.com - US homepage | 4 Jul 2008 | 7:06 pm

Merrill nears deal to sell Bloomberg stake: report

NEW YORK (Reuters) - Merrill Lynch & Co may sell its 20 percent stake in financial news and data provider Bloomberg LP to a blind trust controlled by New York City Mayor Michael Bloomberg, The New York Post reported on Friday.

Source: Reuters: Business News | 4 Jul 2008 | 6:26 pm

G8 faces pressure to raise food aid

The Group of Eight nations will be urged at their annual summit in Hokkaido to boost subsidies for farmers, after the Asian Development Bank warned that rising prices posed a threat to the world's poor
Source: FT.com - US homepage | 4 Jul 2008 | 6:21 pm

YouTube to hand over video logs

Dismissing privacy concerns, a federal judge overseeing a $1 billion copyright-infringement lawsuit against YouTube has ordered the popular online video-sharing service to disclose who watches which video clips and when.

Source: Business and financial news - CNNMoney.com | 4 Jul 2008 | 6:16 pm

Travel experts: US share of foreign tourists slips

Despite the weak U.S. dollar, a boom in international travel around the world hasn't translated into an explosion of foreign tourists to the United States. Explanations range from...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 6:12 pm

Smooth sailing for yacht builders despite economy

Fuel prices are soaring and credit markets tightening, but the super-rich are still lining up to pay tens of millions of dollars for mega yachts. The well-heeled buyers of the floating...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 6:09 pm

EU probe into BHP targeting Rio

The EU opens an in-depth probe into BHP Billiton's $170bn unsolicited bid for rival miner Rio Tinto.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 6:05 pm

Societe Generale fined four million euros for rogue trade scandal

France's banking regulator Friday fined Societe Generale four million euros (6.3 million dollars) over "grave deficiencies" in its internal controls that enabled a massive rogue trade...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 6:03 pm

Merrill nears deal to sell Bloomberg stake: report

NEW YORK (Reuters) - Merrill Lynch & Co may sell its 20 percent stake in financial news and data provider Bloomberg LP to a blind trust controlled by New York City Mayor Michael ...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 6:01 pm

Merrill nears deal to sell Bloomberg stake: report (Reuters)

Reuters - Merrill Lynch & Co may sell its 20 percent stake in financial news and data provider Bloomberg LP to a blind trust controlled by New York City Mayor Michael Bloomberg, The New York Post reported on Friday.

Source: Yahoo! News: Business | 4 Jul 2008 | 6:01 pm

6 things never to tell a car salesman

Source: Business and financial news - CNNMoney.com | 4 Jul 2008 | 6:01 pm

Companies begin quest for oil, gas off Florida

Oil companies once viewed drilling in the deep waters off Florida as cost prohibitive. Politicians feared even the slightest sign of support would be career suicide. No more. Record...
Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Jul 2008 | 6:00 pm

Day in the Work Life: Bike mechanic

There are 600,000 bikes in Amsterdam and they're fairly robust, but occasionally, you're gonna need something tweaked. That means a visit to Wim.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

The myth of energy independence

Ridding ourselves of foreign energy sources is nothing but a myth according to "Gusher of Lies" author Robert Bryce. Host Bob Moon talks with Bryce about setting realistic energy goals for the U.S.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

Week on Wall Street

Stockbroker and business analyst David Johnson chats with host Bob Moon about what happened on Wall Street this week and what may lie ahead.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

We must reduce super-sized appetites

Some economists believe we can innovate our way out of the global problem of carbon emissions, but Boston College professor Juliet Schor says what we really need to do is go on a consumer diet.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

Zapping trash with man-made lightning

With landfill space at a premium, a machine that vaporizes trash into seems like a miracle. But does it send the wrong message in our disposable-loving economy? Janet Babin reports.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

Support for wave energy swells

Drawing power from the ocean could meet as much as 10 percent of the U.S.'s power needs, but some who make their living on the water worry harnessing it will leave them high and dry. Elizabeth Wynne Johnson reports.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

Biofuels to blame for rising food prices

A leaked World Bank report claims 75 percent of the increases in the price of wheat can be attributed to biofuel production. Stephen Beard reports.
Source: Marketplace | 4 Jul 2008 | 5:59 pm

Iran sends word on nuclear talks

Tehran has sent a written response to an offer from the world's leading powers regarding its nuclear programme, amid hopes in the west that formal negotiations could begin
Source: FT.com - US homepage | 4 Jul 2008 | 5:59 pm

SocGen hit by rogue trader fine

French bank Societe Generale is fined 4m euros for allowing one of its staff members to operate as a rogue trader.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 5:53 pm

The week that was for investors: More pain, no gain -- except for OPEC

Source: L.A. Times - Business | 4 Jul 2008 | 5:42 pm

The Markets' Red Glare

The U.S. exchanges are closed for the July 4th holiday, giving the bears a rare chance to rest.

Source: SmartMoney.com | 4 Jul 2008 | 5:41 pm

French bank body fines SocGen $6 million over Kerviel (Reuters)

Reuters - France's Banking Commission on Friday fined Societe Generale 4 million euros ($6.3 million) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss.

Source: Yahoo! News: Business | 4 Jul 2008 | 5:34 pm

French bank body fines SocGen $6 million over Kerviel

PARIS (Reuters) - France's Banking Commission on Friday fined Societe Generale 4 million euros ($6.3 million) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss.

Source: Reuters: Business News | 4 Jul 2008 | 5:33 pm

Jon Friedman's Media Web: Baseball's dream: Cubs win the World Series!

Much of the baseball world is praying for the Chicago Cubs to reach the World Series for the first time since 1945 -- and go on to win the Fall Classic for the first time since 1908.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 5:06 pm

Bullish on Philadelphia: Interview with Mayor Nutter

The new mayor of Philadelphia, Michael Nutter, thinks the city is going places and wants people to get on board. He's set an ambitious goal to reverse the population loss and get more jobs back in the historic city.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 5:03 pm

Winter of the cold hard sell

It may be blustery on Queen St, but that's not the only reason shoppers are flooding into stores. Workers on their lunch breaks, students and a scattering of tourists are lured in by windows plastered in psychedelic signs blaring...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

Liam Dann : Rules change but the game doesn't stop

What's a recession really? It's not exactly the black death or a world war. But on the other hand the technical definition - two or more quarters in which an economy shrinks rather than grows - doesn't quite do it justice either. Somehow...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

Brian Gaynor : Shocker of a half-year for investors

The first half of the year was a shocker for investors with the benchmark NZX-50 Gross Index falling 21 per cent and the finance company sector in serious meltdown. It was the NZX's worst six month performance since the July-December...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

G8 have heaps on their plate

Between surging oil prices, food inflation and a credit crunch that's depressed global growth, leaders from the Group of Eight economic powers face the gravest combination of economic woes in at least a decade when they gather next...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

Disastrous week on Wall Street

Wall St heads into a key corporate earnings season with pessimism high and record energy costs dampening prospects for an economic recovery. This week, the Dow Jones Industrial Average shed 0.51 per cent to 11,288.54 ahead of the...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

Honda happy as fuel hikes hit US

When consumers astonished the US auto industry two months ago by quickly shunning trucks and going for gas mileage, the biggest beneficiary ended up being Honda Motor Co. The No 2 Japanese carmaker, with the most fuel-efficient...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

Rate hike defies warnings

The warnings from politicians and the unions were dire: Raise interest rates and it will hurt the economy and jobs. But European Central Bank president Jean-Claude Trichet paid them no heed yesterday as the bank raised its benchmark...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

Energy Developments to investigate asset sales

ASX-listed Energy Developments is to investigate options for the sale of some or all of its assets after agreeing with majority shareholders, including Lloyd Morrison's Infratil, that the company is undervalued by the sharemarket. Yesterday...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

A freedom fighter for food producers

A big stand of pine trees planted by new Federated Farmers president Don Nicolson on his Waimatua sheep farm about a quarter of a century ago is nearly ready to harvest. On the surface farming may appear fundamentally the same...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

$630m to be spent on telco networks

The nation's two telecommunications giants Vodafone and Telecom have announced separate plans for major network upgrades which will see a collective $630 million invested in the sector. Telecom, whose share price is bobbing near...
Source: New Zealand Herald - Business | 4 Jul 2008 | 5:00 pm

EU opens in-depth investigation of Rio-BHP deal

BRUSSELS (Reuters) - The European Commission opened an in-depth investigation on Friday into BHP Billiton's $170 billion unsolicited bid for rival miner Rio Tinto , with prices of iron ore already soaring.

Source: Reuters: Business News | 4 Jul 2008 | 4:56 pm

Investors to confront higher inflation, rates through year's end

The fears about U.S. recession that hovered over Latin American equity markets and economies at the start of the 2008 are being overshadowed by rising inflation and higher interest rates in the second half of the year.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 4:46 pm

Treasurys look better in second half if Fed keep rates steady

Treasurys have room for improvement during the rest of the year as the Federal Reserve keeps interest rates steady to balance a sluggish economy and threats of higher inflation, analysts say.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 4:41 pm

Food Futures: Corn may hit $10 as flooding reduces production

Corn futures prices may rise to as high as $10 a bushel in the second half of the year if bad weather continues and if Midwest floods take a big toll on the crop.

Source: MarketWatch.com - Top Stories | 4 Jul 2008 | 4:34 pm

Europe Banks Head Back To The Trough (C)(BAC)(WB)(MER)(LEH)

Europe's banks need to head back out on the fund-raising circuit. They may have to bring in as much as $141 billion, according to Goldman Sachs. Reuters writes that this capital will be necessary "to reach an aggregate Tier I ratio of 9 percent -- a level achieved by European banks that have recapitalized recently." Since the problems that the banks on the continent face are not much different from those in the US, the report begs the question of what will happen in America. The troubles of sub-prime mortgage paper, deteriorating credit, and LBO loans cross borders, and they...

Source: 24/7 Wall St. | 4 Jul 2008 | 3:49 pm

BCE deal to go ahead as buyers finalise price

The closely watched buy-out of BCE, the Montreal telecommunications group, is set to proceed with its key terms intact following an agreement, announced between the purchasers and a group of banks to provide financing for the $34bn deal
Source: FT.com - US homepage | 4 Jul 2008 | 3:32 pm

Court rules that Pringles 'are not potato crisps'

Pringles, the popular snack food in a tube, are not potato crisps, a High Court judge rules, and should be free of VAT.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 3:11 pm

Faster iPhone: Will it work where you live?

Source: Business and financial news - CNNMoney.com | 4 Jul 2008 | 2:07 pm

Former Austrian bank boss jailed

The former head of one of Austria's biggest banks, Bawag, is convicted of fraud charges by a court in Vienna.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 1:40 pm

Tax credit to save UBS from hefty loss

ZURICH (Reuters) - Battered Swiss bank UBS said on Friday it should be saved from another hefty loss in the second quarter by a large tax credit, giving a much-needed though short-lived boost to its share price.

Source: Reuters: Business News | 4 Jul 2008 | 1:19 pm

Kimmitt confident in economic fundamentals

BERLIN (Reuters) - Deputy U.S. Treasury Secretary Robert Kimmitt said on Friday he was confident about the United States' economic fundamentals in the long term despite a current rough patch and was quite optimistic about the future.

Source: Reuters: Business News | 4 Jul 2008 | 1:18 pm

Straight Story: Financial independence

Chris Farrell delivers his commencement address to new graduates as he sets the story straight on setting out on your own and declaring financial independence.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

Day in the Work Life: Pro wrestler

On this week's a Day in the Work Life, we follow pro wrestler Kurt Angle from the Olympics to primetime.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

Getting Personal

In this edition of Getting Personal, Chris and Tess talk about negotiating with collection agencies, comparing mutual fund fees, lazy investing and an offer too good to be true.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

Cracking open your nest egg

With loans harder to come by, more Americans have resorted to raiding their 401(k)s, but as Josephine Bennett reports, borrowing early can have big consequences.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

Reviewing online review sites

Online reviews can be all over the map. How can you vet hundreds of opinions to get the best information? Lenora Chu goes browsing for answers.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

The dream of Dubai

Dubai aims to be the biggest and the best in every way, but as Sean Cole reports, there's debate as to whether the reality of Dubai lives up to the dream.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

This is your brain on shopping

How much of our desire to spend, spend, spend is willpower and how much is hardwired? Tess submits herself to scientists at Stanford to try to discover the answer.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

Financial basic training for our troops

Most people are aware of the challenges troops face in combat, but what about their struggles with managing their finances? That often puts them in a whole different battle. Jeff Tyler reports.
Source: Marketplace Money | 4 Jul 2008 | 1:00 pm

European banks need to raise up to $141 billion: Goldman

(Reuters) - Goldman Sachs said the European banks sector needs to raise about 60 billion to 90 billion euros ($94 to $141 billion), or withhold one year of dividends, to reach an aggregate Tier I ratio of 9 percent -- a level achieved by European banks that have recapitalized recently.

Source: Reuters: Business News | 4 Jul 2008 | 12:32 pm

This Week's BioHealth & Biotech Top Stories

We saw another exciting week full of news for key developments in drug stocks, biotech stocks, medical device stocks, and other companies involved in various aspects of health care and medicine. Below are some of the stock tickers we covered over at BioHealthInvestor.com this week: STOCK TICKERS: ABT, BSX, MDT, JNJ, SRDX, ANPI, BAYRY, MAXY, AMGN, CRA, INGN, CELG, MRK, SNY, GSK, AKRX, ARYX This week we saw another FDA Approval in stents as Abbott's (NYSE: ABT) XIENCE drug-eluting coronary stent was approved for marketing. While this is causing a resurgence in stents, this space is about to become highly...

Source: 24/7 Wall St. | 4 Jul 2008 | 12:31 pm

Baugur investigates switch to UK

Hamleys owner - Icelandic investment group Baugur - says it is examining ways to relocate to the UK.
Source: BBC News | Business | World Edition | 4 Jul 2008 | 11:56 am

Weak dollar is global concern: EU's Barroso

BRUSSELS (Reuters) - The dollar's fall is a source of global concern and the European Union wants a better balance between the U.S. unit and other major currencies, European Commission President Jose Manuel Barroso said on Friday.

Source: Reuters: Business News | 4 Jul 2008 | 11:42 am

Starbucks (SBUX): The Mess Gets Worse

Twelve thousand souls are losing their jobs at Starbucks (SBUX), mostly because Howard Schultz let incompetents run his empire while he was occupied elsewhere. It will always be open to debate whether things would have been different if he had stayed on as CEO, instead of returning recently when things at the coffee company were getting bad. In a superb article in The New York Times, the paper analyzes what may have been the worst decision by Starbucks executives. In the surge of rapid expansion in the US, they put many of their stores in the wrong places. According to...

Source: 24/7 Wall St. | 4 Jul 2008 | 11:37 am

Stocks tumble

High oil prices fail to bolster global shares
Source: BBC News | Business | World Edition | 4 Jul 2008 | 11:12 am

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