Dollar bounces higher

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Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 10:54 am

Currencies: Dollar gains ground as G8 meets

The U.S. dollar began the week higher against major currencies Monday, aided by a firmer tone in equity markets, a retreat by oil prices and a reluctance to sell the greenback in the midst of the meeting of Group of Eight world leaders in Japan, analysts said.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 10:53 am

Europe Markets: Shares pare early advance in Europe

European shares move modestly higher to start the week, playing in part off lower oil prices and a weaker euro.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 10:52 am

McCain, Obama spring into new battle over economy (AFP)

AFP - Republican White House hopeful John McCain and Democratic rival Barack Obama Monday squared off in a fierce new campaign offensive on the economy, the election-year issue most troubling to voters.

Source: Yahoo! News: Business | 7 Jul 2008 | 10:50 am

Rising costs dominate G8 summit

World leaders are starting a key summit in Japan that is expected to focus on soaring global food and fuel prices.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 10:50 am

B&B shares plunge to new low as investors flee

Bradford & Bingley's (B&B) stock plunged by more than 11 per cent to an all-time low of 44p today - 11p below the bank's rights issue price - as investors continued to reel over a decision by TPG to walk away from a £400 million rescue deal.
Source: Latest Business News from Times Online | 7 Jul 2008 | 10:44 am

InBev seeks to replace Anheuser-Busch board

BRUSSELS (Reuters) - Belgian-based brewer InBev will seek to remove and replace the board of Anheuser-Busch Cos Inc to secure a $46.3 billion takeover of its U.S. rival, InBev said on Monday.

Source: Reuters: Business News | 7 Jul 2008 | 10:43 am

InBev And BUD: Pushing Out Another Board

Perhaps this will be the year when replacing corporate boards hits a record level. Carl Icahn wants to do it at Yahoo! (YHOO). Several large investors have been taking a run at AIG (AIG). Now, InBev, which is trying to buy Anheuser-Busch (BUD) wants to replace the representatives of the shareholders there. To rub salt into the wounds of BUD's management, the "alternative board includes Adolphus Busch IV, the great-grandson of the Anheuser-Busch founder and the uncle of the current Anheuser-Busch chief executive, August Busch IV, according to MarketWatch. Perhaps InBev does not need to go that far if the...
Source: 24/7 Wall St. | 7 Jul 2008 | 10:37 am

Banking recruitment gloom is spreading to other sectors, says Michael Page

Recruitment specialist Michael Page warned today that the ongoing weakness in the banking sector is draining the confidence of its clients and candidates in other white-collar sector
Source: Telegraph Business | 7 Jul 2008 | 10:37 am

Gas prices still on record run

Retail gas prices have risen to a record high for the eighth day in a row, a daily survey by auto club AAA showed Monday.

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 10:26 am

GM may be mulling thousands of job cuts

(Reuters) - General Motors Corp is planning to cut thousands of white-collar jobs and is considering whether it should sell or stop production of more of its brands, The Wall Street Journal said, citing people familiar with the matter.

Source: Reuters: Business News | 7 Jul 2008 | 10:26 am

Faster decline in factory output

The output of UK factories and mines declined more than expected between March and May, figures show.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 10:23 am

Oil At $200 And A Two-Year Recession

The predictions of $200 oil have made it to the front page of The Wall Street Journal. They have been hanging around in less prominent places, but now they gain some further legitimacy. According to the paper, "Oil's historic ascent from $100 to nearly $150 a barrel in just six months is lending weight to a far grimmer prediction: Crude could reach $200 a barrel by the end of the year." The Journal predicts this would push gas prices to $6 a gallon. If gas goes that high, several industries will be toast. Airlines and auto companies are obvious. The...
Source: 24/7 Wall St. | 7 Jul 2008 | 10:22 am

8 plug-in cars coming soon

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 10:19 am

Stocks set for tepid start

U.S. stocks looked set for a tepid open Monday as investors returning from the holiday weekend worried about energy prices and upcoming corporate earnings.

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 10:19 am

Persimmon tumbles as it prepares to reveal job cuts

Shares in troubled housebuilder Persimmon fell 7.5pc this morning as the market anticipated 1,000 redundancies at the company and analysts at RBS downgraded the housing sector.
Source: Telegraph Business | 7 Jul 2008 | 10:15 am

US dollar up in Europe

The U.S. dollar was higher against other major currencies in European trading Monday morning. Gold fell. The euro traded at $1.5644, down from $1.5712 late Friday in New York. Other...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:11 am

EU plans tax cuts for local firms

The European Commission proposes cutting VAT rates for a wide range of local service businesses, including restaurants and builders.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 10:10 am

InBev aims to sack Anheuser board

InBev aims to oust the Anheuser-Busch board as it tries to push through a hostile takeover of its rival brewer.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 10:06 am

Energtek to Present at Collins Stewart Fourth Annual Growth Conference in New York

CEO Lev Zaidenberg Will Convey Financial and Environmental Benefits of Energtek's Breakthrough ANG Technology in Emerging Energy Markets VALLEY STREAM, New York, July 7
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:05 am

Toyota's (TM) Poor Call: No Prius In The Garage

The Toyota (TM) Prius, the most successful hybrid car in the world, is about to become even more fuel-efficient. According to Reuters, the company "plans to install solar panels on some Prius hybrids in its next remodeling, responding to growing demand for "green" cars amid record-high oil prices." That will probably make the little vehicle get some insane miles-per-gallon figure, perhaps 100. The trouble is that almost no one can get a Prius. Supply of the cars is very, very short because Toyota did not anticipate the demand that high oil prices would cause. It may take a number of...
Source: 24/7 Wall St. | 7 Jul 2008 | 10:01 am

dunnhumbyUSA Establishes Chicago Office

Cincinnati-based Company Continues Expansion Plan; Grows Atlanta Office CINCINNATI, July 7 /PRNewswire/ -- dunnhumbyUSA, an international leader in building sales and
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:00 am

Melrose Jewelers Launches its Rolex President Watch Store at http://www.melrosejewelers.com/presidents.htm and its Rolex Datejust Watch Store at http://www.melrosejewelers.com/datejust.htm

Melrose Jewelers, a Used, Like New Rolex Dealer, today launched its Rolex President Watch Store at http://www.melrosejewelers.com/presidents.htm and its Rolex Datejust Watch Store at...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:00 am

J. Mikesell Thomas Joins Castle Creek Capital as Principal

RANCHO SANTA FE, Calif., July 7 /PRNewswire/ -- Castle Creek Capital announced today that J. Mikesell Thomas, a prominent, long-time Chicago banker, has joined the firm...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:00 am

CLG Financial Announces New Name and Corporate Identity Campaign

NANUET, N.Y., July 7 /PRNewswire/ -- CLG Financial, a business, personal and employee benefits insurance solutions provider with offices in Nanuet, NY and Clifton, NJ,...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:00 am

Teleflora Sets Plan in Motion to Bring Smiles to the Masses

Teleflora Kicks Off 2008 Make Someone Smile(R) Week July 20-26 LOS ANGELES, July 7 /PRNewswire/ -- Teleflora, the world's leading floral service offering the...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 10:00 am

Paris keeps ECB under pressure pre-eurozone talks

PARIS (Reuters) - France said on Monday it hoped the latest rise in euro zone interest rates was a one-off, setting the stage for a meeting where European Central Bank chief Jean-Claude...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 9:56 am

Paris keeps ECB under pressure pre-eurozone talks

PARIS (Reuters) - France said on Monday it hoped the latest rise in euro zone interest rates was a one-off, setting the stage for a meeting where European Central Bank chief Jean-Claude Trichet will explain the move in person to the bloc's finance ministers.

Source: Reuters: Business News | 7 Jul 2008 | 9:56 am

EMI appoints music boss without industry experience

Guy Hands, chairman at EMI, has promised to step back from day-to-day management of EMI, the record company, after appointing Elio Leoni-Sceti as chief executive of its recorded music division.
Source: Latest Business News from Times Online | 7 Jul 2008 | 9:50 am

The Worst Earnings Season In More Than Twenty-Five Years? (AAPL)(GE)(CSCO)(INTC)(T)(VZ)(MSFT)

The market took big dips in 2001 and 1987. One was due to a national catastrophe and another was focused on Wall St.'s impression that the market had run too far, too fast. The US experienced a fairly deep recession in 1981 and 1982. By most measures, this lasted for over five quarters. Downturns in 1991 and 2001 where less severe and lasted, at most, six months. The question now is whether consumer spending has been so badly hurt and the credit markets so badly damaged that earnings could fall at a level not seen since the early 1980s. According...
Source: 24/7 Wall St. | 7 Jul 2008 | 9:46 am

Indications: U.S. stock futures ease after three-day break

U.S. stock futures slipped Monday after a three-day break, with oil price relief and dollar strength not enough to encourage investors as second-quarter earnings seasons nears.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 9:44 am

Wall Street Communications Gains Global PR Services Contract for Bridge Technologies

SALT LAKE CITY, July 7 /PRNewswire/ -- Wall Street Communications, a leading provider of marketing communications services to the electronic media industry, today...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 9:35 am

PublicisLive Awarded New Long-Term Contract by the World Economic Forum

GENEVA, Switzerland, July 7 /PRNewswire-FirstCall/ -- PublicisLive today announced it has signed an exclusive seven-year contract with the World Economic Forum to...
Source: Infocious RSS raw feed - channel BNewsBusiness | 7 Jul 2008 | 9:35 am

Argos workers to strike over pay as cost of living soars

Workers at retail chain Argos have voted in favour of strike action over pay in the wake of rising food and fuel costs.
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 9:24 am

Argos workers to strike over pay as cost of living soars

Workers at retail chain Argos have voted in favour of strike action over pay in the wake of rising food and fuel costs.
Source: Telegraph Business | 7 Jul 2008 | 9:24 am

Bank case studies historic fees

The High Court is hearing whether overdraft charges going back years can be judged for fairness.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 9:23 am

European airlines post solid June traffic growth

Several European airlines reported solid June traffic results on Monday, showing that the record-high fuel prices and weakening consumer confidence have yet to significantly dent demand for air travel.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 9:21 am

InBev moves to sack Anheuser-Busch board

InBev's campaign to buy Anheuser-Busch (AB) gathered momentum this morning after a senior member of the Busch family threw his weight behind the Belgian brewer's $47 billion ($£23.8 billion) bid for the Budweiser maker.
Source: Latest Business News from Times Online | 7 Jul 2008 | 9:07 am

Argos workers vote for stoppage

Workers at four distribution hubs owned by catalogue firm Argos vote for strike action after rejecting a 4% pay offer.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 9:07 am

Asia Markets: Nikkei snaps out of slump after 12 straight losses

Japanese indexes overcame early weakness to end higher Monday, snapping a long streak of weaker finishes as investors looked for bargains in exporters such as Canon Inc. and banks like Mizuho Financial Group.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 9:05 am

SFO appeals Saudi deal decision

The Serious Fraud Office appeals against the ruling that it unlawfully dropped its probe into Saudi arms deals.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 8:55 am

London Markets: Homebuilders fall again in London; FTSE 100 modestly higher

Homebuilders fell again in London on Monday, as reports pointed to more bad news to come in the sector, though oil companies led the broader market higher.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 8:52 am

FTSE pares early gains

London's FTSE 100 rose off a 2-year low on Monday, but gave back some of its early strong gains after banks turned negative and retailers weakened on the deteriorating economic outlook.Having started the...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 8:44 am

TNK-BP chief fights for job in oligarch vote

The quartet of Russian billionaires fighting BP over the future of TNK-BP, the joint venture, will today seek to oust the company's chief executive in Moscow today.
Source: Latest Business News from Times Online | 7 Jul 2008 | 8:41 am

Coke to pay $137.5 million to settle suit

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 8:38 am

InBev seeks to replace Anheuser-Busch board (Reuters)

Reuters - Belgian-based brewer InBev will seek to remove and replace the board of Anheuser-Busch Cos Inc to secure a $46.3 billion takeover of its U.S. rival, InBev said on Monday.

Source: Yahoo! News: Business | 7 Jul 2008 | 8:34 am

Banking recruitment gloom is spreading to other sectors, says Michael Page

Recruitment specialist Michael Page warned today that the ongoing weakness in the banking sector is draining the confidence of its clients and candidates in other white-collar sectors
Source: Telegraph Business | 7 Jul 2008 | 8:30 am

Banking recruitment gloom is spreading to other sectors, says Michael Page

Recruitment specialist Michael Page warned today that the ongoing weakness in the banking sector is draining the confidence of its clients and candidates in other white-collar sectors
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 8:30 am

Debt collectors on the rampage

Six months after Rob Hruskoci closed his business, a debt collector called and demanded payment that day for the $5,000 balance on his business credit card.

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 8:26 am

Profits growth slows at Michael Page

Job losses in banking and finance caused a slowing of profits growth at Michael Page International, the specialist recruitment firm said on Monday.Across the group, gross profit rose 26 per cent in the...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 8:21 am

InBev, Busch uncle, aim to oust Anheuser-Busch board

Belgian brewer InBev on Monday announced its latest move in its quest to buy Anheuser-Busch, putting up an alternative slate of directors that includes a descendant of the founding Busch family.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 8:20 am

InBev moves to oust Anheuser board

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Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 8:19 am

Michael Page casts gloom on banking jobs

Michael Page, the international recruitment group, said today that recruitment in London’s financial services sector has ground to a halt in the latest sign of the economic gloom sweeping Britain.
Source: Latest Business News from Times Online | 7 Jul 2008 | 8:17 am

NBC seals deal for Weather Channel

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 8:14 am

Discover Financial opens Shanghai office

Discover Financial Services said Monday it will open a Shanghai office later this month, employing about 45 analysts, as its seeks to tap into growing demand for credit assessment and financial modeling services in China.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 8:13 am

Fresenius to buy APP Pharma for up to $4.6 billion

Health-care giant Fresenius SE moved to enter the U.S. market through a deal to acquire APP Pharmaceuticals Inc. for as much as $29 a share, or $4.6 billion

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 8:11 am

GM (GM) Tries To Save Itself

GM (GM) will try to save itself again. It may be too late. The company may already be in hospice The nation's largest car company is considering dumping thousand of white collar workers and selling or closing some of its brands. GM is has begun to re-evaluate whether it can be profitable in 2010. The answer is almost certainly "no". According to The Wall Street Journal, "Management may also present the board with options for raising additional cash to help GM make it through the downturn." The paper reports that most brands beyond Cadillac and Chevy are being reviewed for...
Source: 24/7 Wall St. | 7 Jul 2008 | 8:10 am

Fresenius to buy APP for $3.7bn

Fresenius, owner of the world's largest provider of dialysis, has agreed to buy APP Pharmaceuticals for $3.7bn (1.9bn) to enter the US market for generic intravenous medicines.
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 8:07 am

Fresenius to buy APP for $3.7bn

Fresenius, owner of the world's largest provider of dialysis, has agreed to buy APP Pharmaceuticals for $3.7bn (£1.9bn) to enter the US market for generic intravenous medicines.
Source: Telegraph Business | 7 Jul 2008 | 8:07 am

Oil falls below $144 as jitters ease

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 8:06 am

Merrill mulling sale of BlackRock stake - report

Source: Business and financial news - CNNMoney.com | 7 Jul 2008 | 7:53 am

Media Digest 7/7/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, NBC Universal and partners will by The Weather Channel for $3.5 billion. Reuters writes that Toyota (TM) will add solar panels to some of its Prius cars. Reuters writes that broken buy-out deals have strained trust among corporations, banks, and prvate equity firms. Reuters reports that Merrill Lynch (MER) is considering selling its stakes in Bloomberg and Blackrock. The Wall Street Journal reports that GM (GM) is considering thousands of job cuts and the sale or closing of some of its brands. The Wall Street Journal reports that the rising price of oil is causing more fear...
Source: 24/7 Wall St. | 7 Jul 2008 | 7:52 am

Toyota to add solar panels to some Prius hybrids

TOKYO (Reuters) - Toyota Motor Corp plans to install solar panels on some Prius hybrids in its next remodeling, responding to growing demand for "green" cars amid record-high oil prices, a source briefed on the matter said on Monday.

Source: Reuters: Business News | 7 Jul 2008 | 7:49 am

Asia Markets 7/7/2007 (LFC)(SNP)(NTT)

Markets in Asia were mostly higher. The Nikkei moved up .9% to 13,361. NEC was up 2.4% to 587. NTT (NTT) was down 2.5% to 527000. The Hang Seng rose 1.7% to 21,784. China Life (LFC) rose 4.2% to 26.60. China Petroleum (SNP) rose 4% to 7.31. The Shanghai Composite was up 4.6% to 2,792. Data from Reuters. Douglas A. McIntyre
Source: 24/7 Wall St. | 7 Jul 2008 | 7:29 am

Bush says China key to climate progress

The US president said he was prepared to be 'constructive' in talks on climate change, but insisted any deal was contingent on the participation of China and India
Source: FT.com - US homepage | 7 Jul 2008 | 7:05 am

EMI confirms Reckitt executive as music chief

Terra Firma on Monday completed the executive shake-up of EMI, the record label, with the appointment of Elio Leoni-Sceti as chief executive of its recorded music division.The arrival of Mr Leoni-Sceti,...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 7:04 am

CNOOC unit offers $2.5bn for Awilco

Hong Kong, July 7 - China's largest offshore oil services group on Monday agreed to buy Norwegian competitor Awilco Offshore for around $2.5bn to increase its drilling capacity and expand its business...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 7 Jul 2008 | 7:01 am

The Week Ahead

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

'Hancock' a signature opening for Will Smith

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

"Family Wars": Keeping the business in the family is not always the best option

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

Group's no-interest loans help small businesses grow

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

Portable analog TVs may be lost in digital transition

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

Airport projects may be grounded

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

NBC Universal reaches deal to buy Weather Channel from Landmark

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

Group's no-interest loans help small businesses grow

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

The Week Ahead

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

APP Pharmaceuticals sale to make L.A. billionaire Patrick Soon-Shiong even richer

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

Business in box

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

Small firms struggle to pay credit card debt

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

"Family Wars": Keeping the business in the family is not always the best option

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

Prius 'to be part solar-powered'

Toyota is reported to be planning to add solar-powered air conditioning to some of its Prius hybrid cars.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 6:51 am

NBC agrees Weather Channel deal

Entertainment and news firm NBC Universal, and private equity firms Blackstone and Bain Capital agree to buy The Weather Channel.
Source: BBC News | Business | World Edition | 7 Jul 2008 | 6:25 am

Merrill considers Bloomberg, BlackRock sales: report (Reuters)

Reuters - Merrill Lynch & Co is moving closer to selling stakes in financial firm BlackRock Inc and information provider Bloomberg LP in an effort to raise cash to make up for $6 billion in coming write-downs, the Wall Street Journal said Monday citing people familiar with the matter.
Source: Yahoo! News: Business | 7 Jul 2008 | 6:22 am

Merrill considers Bloomberg, BlackRock sales: report

(Reuters) - Merrill Lynch & Co is moving closer to selling stakes in financial firm BlackRock Inc and information provider Bloomberg LP in an effort to raise cash to make up for $6 billion in coming write-downs, the Wall Street Journal said Monday citing people familiar with the matter.

Source: Reuters: Business News | 7 Jul 2008 | 6:22 am

Russia Metalloinvest picks IPO organizers: report

MOSCOW (Reuters) - Metalloinvest, the Russian iron ore and steel company controlled by billionaire Alisher Usmanov, has picked organizers for an initial public offering planned for autumn, Kommersant business daily reported on Monday.

Source: Reuters: Business News | 7 Jul 2008 | 6:20 am

InBev seeks to replace Anheuser board

Belgian-Brazilian brewer InBev is turning up the heat in its unsolicited $46bn takeover bid to buy US rival Anheuser-Busch, filing a solicitation with the SEC to replace all 13 of the Bud brewer's directors
Source: FT.com - US homepage | 7 Jul 2008 | 6:20 am

Some auto makers to fight steel surcharges: report

(Reuters) - Some auto makers are threatening to fight surcharges steelmakers are trying to impose on agreed supply contracts in a bid to curb the impact of spiking steel prices and bolster their weak finances, The Wall Street Journal said, citing people familiar with the matter.

Source: Reuters: Business News | 7 Jul 2008 | 6:06 am

Some auto makers to fight steel surcharges: report (Reuters)

Reuters - Some auto makers are threatening to fight surcharges steelmakers are trying to impose on agreed supply contracts in a bid to curb the impact of spiking steel prices and bolster their weak finances, The Wall Street Journal said, citing people familiar with the matter.
Source: Yahoo! News: Business | 7 Jul 2008 | 6:06 am

GM mulling thousands of job cuts, sale of brands: report (Reuters)

Reuters - General Motors Corp is planning to cut thousands of white-collar jobs and is considering whether it should sell or stop production of more of its brands, The Wall Street Journal said, citing people familiar with the matter.

Source: Yahoo! News: Business | 7 Jul 2008 | 5:15 am

Retail property 2nd-qtr worst in 30 yrs: report (Reuters)

Reuters - U.S. store closings and cutbacks turned the second quarter into the worst for strip mall owners in 30 years, as budget-conscious consumers flocked to low-cost warehouse-style grocery centers, according to a report by real estate research firm Reis.
Source: Yahoo! News: Business | 7 Jul 2008 | 4:58 am

Climate change, commodity prices top G8 agenda

HONG KONG (MarketWatch) -- Leaders of the Group of Eight industrialized nations kicked off a three-day meeting in Japan Monday, with climate change topping the agenda at this year's summit.

Source: MarketWatch.com - Top Stories | 7 Jul 2008 | 4:57 am

Las Vegas property market hits a losing streak

NEW YORK (Reuters) - As Las Vegas sees its hotel and casino businesses sputter and office, apartment and retail real estate markets flag, the rest of the country is hoping what happens in Vegas stays in Vegas.

Source: Reuters: Business News | 7 Jul 2008 | 4:13 am

Buyout spats bruise many, damage trust

NEW YORK/PHILADELPHIA (Reuters) - Spats over the last remaining leveraged takeovers forged during the private equity boom have mostly been resolved, but Wall Street banks, buyout firms and the companies they target have been left more than a little bruised.

Source: Reuters: Business News | 7 Jul 2008 | 4:01 am

Buyout spats bruise many, damage trust (Reuters)

Reuters - Spats over the last remaining leveraged takeovers forged during the private equity boom have mostly been resolved, but Wall Street banks, buyout firms and the companies they target have been left more than a little bruised.

Source: Yahoo! News: Business | 7 Jul 2008 | 4:00 am

NBC Universal, partners to buy Weather Channel

PHILADELPHIA (Reuters) - NBC Universal and private equity firms Bain Capital and Blackstone Group said on Sunday they agreed to buy The Weather Channel from Landmark Communications.

Source: Reuters: Business News | 7 Jul 2008 | 3:15 am

Aussie bank profits slowing down - Westpac falls the most

There are clear signs of a slow down in the banking business, says a leading researcher, but it's not bad debts causing the problem. Massey University head of banking studies David Tripe has released his latest quarterly report...
Source: New Zealand Herald - Business | 7 Jul 2008 | 3:00 am

Pumpkin Patch takeover talk just speculation say company watchers

Research analysts say talk about a possible takeover for Pumpkin Patch appears to be just speculation at this stage. The talk heated up on Friday when Kathmandu founder Jan Cameron disclosed a 6.3 per cent interested in the children's...
Source: New Zealand Herald - Business | 7 Jul 2008 | 2:00 am

GE’s (GE) Earnings, Immelt, And Jack’s Ghost

For reasons that are impossible to explain, much of the mythology of the late 20th Century American CEO was placed Atlas-like on the shoulders of John Francis Welch, GE’s head man from 1981 to 2001. He was physically small but sported a two handicap, was unusually brilliant and could slit a competitor’s throat as easily as he could read a balance sheet. Only Lee Iaccoca could be considered a popular rival, because he had turned around a deeply troubled company at Chrysler. Welch had done something far more difficult. He had taken a great company and made it far greater....
Source: 24/7 Wall St. | 7 Jul 2008 | 1:14 am

From 'yahoo' to ho hum - how the malls rate

Shopping mall ratings have given the new Westfield Albany centre four stars, with Lynnmall at the other end of the scale receiving just two stars. Retail experts RCG gave malls a points rating partly in response to harder economic...
Source: New Zealand Herald - Business | 7 Jul 2008 | 1:00 am

Robert Mugabe is more vulnerable to oil sanctions than Ian Smith

Forty years ago this week the UK parliament passed the formal order imposing sanctions on Southern Rhodesia in accordance with Security Council Resolution 253.
Source: Telegraph Business | 7 Jul 2008 | 12:01 am

US housing shows signs of recovery

Housing is back in demand in the US - especially when homes can cost only £10,000, writes James Quinn.
Source: Telegraph Business | 7 Jul 2008 | 12:01 am

Sir Stuart Rose must give a great performance to win over M&S critics

When the executive chairman of Marks & Spencer takes the stage at the Royal Festival Hall for M&S's annual shareholder meeting on Wednesday, he will have to give a command performance worthy of the greats.
Source: Telegraph Business | 7 Jul 2008 | 12:01 am

Goldman Sachs to collect substantial B&B fee

Goldman Sachs will be paid a substantial fee for advising Bradford & Bingley, the bank suffering from several knocks in the past few weeks which led to a rescue financing by its shareholders.
Source: Telegraph Business | 7 Jul 2008 | 12:01 am

Marks & Spencer boss faces AGM revolt

One in four Marks & Spencer shareholders is expected to abstain or vote against the election of Sir Stuart Rose as executive chairman of the retailer this week.
Source: Telegraph Business | 7 Jul 2008 | 12:01 am

Yahoo! re-enters merger talks with Time Warner

Yahoo! spent the July 4 bank holiday weekend in discussions with its lead adviser, Goldman Sachs, and potential bid partners including Time Warner to defend itself from a break-up by Microsoft.
Source: Latest Business News from Times Online | 6 Jul 2008 | 11:00 pm

Ambani brothers' feud threatens merger by mobile groups, RCom and MTN

A bitter feud between two brothers - India's two richest men - and the collapse of the country's stock markets threatens to derail the creation of a new powerhouse in the world mobile phone market.
Source: Latest Business News from Times Online | 6 Jul 2008 | 11:00 pm

Virgin is among three funds created to fish for the bottom of the market

Three separate funds are being created to exploit investment opportunities in the battered aviation, hotels and property sectors, The Times has learnt, in a sign that some investors are calling the bottom of the market.
Source: Latest Business News from Times Online | 6 Jul 2008 | 11:00 pm

Value shops tip growth as shoppers trade down

Aldi, Lidl and Netto, the discount supermarkets, are forecast to increase their share of Britain's grocery market by 60 per cent over the next four years as the middle classes trade down because of the credit crunch.
Source: Latest Business News from Times Online | 6 Jul 2008 | 11:00 pm

Sir Stuart Rose faces institutional protest at Marks & Spencer meeting

Sir Stuart Rose faces a protest vote from shareholders this week over his decision to become both executive chairman and chief executive of Marks & Spencer.
Source: Latest Business News from Times Online | 6 Jul 2008 | 11:00 pm

OPEC: India And China Will Keep Oil High

OPEC would still like its critics to believe that the level of its supply of oil to the world has nothing to do with crude prices. OPEC President Chakib Khelil still blames the dollar and speculation in the futures market. According to Reuters, Kheilil also believes that "expectations that global oil supplies will not cope in the long term with strong demand growth from newly industrializing China and India" will keep prices moving higher. It does not look like OPEC wants to involve itself in an experiment to see whether supply matters. Douglas A. McIntyre
Source: 24/7 Wall St. | 6 Jul 2008 | 10:47 pm

Obama wants ban on risk-based pricing

A Barack Obama administration would seek to ban risk-based pricing on all individual health insurance plans to stop companies cherry-picking healthy customers, a senior adviser has said
Source: FT.com - US homepage | 6 Jul 2008 | 10:37 pm

Confusion over UK rules on shorting

Rules introduced by the UK's financial watchdog that force hedge funds to disclose short positions in companies holding rights issues have caused confusion among investors.
Source: FT.com - US homepage | 6 Jul 2008 | 10:27 pm

Goldman star defects to GLG

One of Goldman Sachs' top traders is leaving to join GLG Partners, London's second biggest hedge fund, amid a wave of defections from the City to Mayfair-based fund managers
Source: FT.com - US homepage | 6 Jul 2008 | 10:26 pm

NZ Shares: Quiet start after rollercoaster week

The sharemarket was virtually unchanged in opening trading after going on a roller coaster ride last week. The NZSX-50 benchmark index, which rallied on Friday, was up 0.7 points at 3158.633. There was no lead today from Wall...
Source: New Zealand Herald - Business | 6 Jul 2008 | 10:23 pm

Dairy Equities upset by likely effect of Fonterra retentions

Dairy Equity Ltd, a listed company set up to earn money indirectly from Fonterra shares, today warned the giant cooperative's shareholders may not receive any further value-added payments for the season ended May 31. Dairy Equity...
Source: New Zealand Herald - Business | 6 Jul 2008 | 10:19 pm

Bay investors take big share

Bay of Plenty residents have the most money invested in the New Zealand sharemarket while Southlanders are more likely to take smaller punts and females in the Taupo/Rotorua region have almost twice as much money invested in shares...
Source: New Zealand Herald - Business | 6 Jul 2008 | 9:00 pm

Big in Auckland and getting big in Texas

An export business set up by two Kiwis on opposite sides of the Pacific is taking New Zealand design products to the world at unprecedented levels. The firm, dubbed essenze, was set up not quite three years ago and is on track...
Source: New Zealand Herald - Business | 6 Jul 2008 | 8:00 pm

Don't worry about us, says PGG Wrightson Finance

PGG Wrightson Finance today distanced itself from the rest of the finance company sector by saying it has a reinvestment rate of 80 per cent. The statement comes as finance companies generally struggle to attract new retail funding...
Source: New Zealand Herald - Business | 6 Jul 2008 | 7:30 pm

NBC, Blackstone and Bain buy Weather Channel

A consortium of Bain Capital, Blackstone and NBC Universal is buying Weather Channel for about $3.2bn in what may prove to be the largest US leveraged buy-out this year
Source: FT.com - US homepage | 6 Jul 2008 | 7:27 pm

Tsvangirai rejects talks with Mbeki

Efforts to end the crisis in Zimbabwe suffered further blows as the opposition leader spurned mediation talks and the government stepped up intimidation of opponents
Source: FT.com - US homepage | 6 Jul 2008 | 7:22 pm

Owen Hembry: Putting some meat on the bones

It was a big week in the meat sector with listed rural services company PGG Wrightson agreeing to buy 50 per cent of co-operative meat processor Silver Fern Farms for $220 million. PGG Wrightson chairman Craig Norgate had signalled...
Source: New Zealand Herald - Business | 6 Jul 2008 | 7:00 pm

Drug groups prescribe for future growth

Nearly a quarter of the world's leading pharmaceutical companies consider that diversifying away from selling medicines while expanding sales in emerging markets are the most promising ways to sustain growth, a survey has found
Source: FT.com - US homepage | 6 Jul 2008 | 6:41 pm

Hopes rise for Tehran talks progress

Iran's top security negotiator will this month meet the EU's foreign policy chief, amid continuing hopes that Tehran will soon begin formal talks on its nuclear programme
Source: FT.com - US homepage | 6 Jul 2008 | 6:36 pm

Little oil relief until 2013: energy chief

The International Energy Agency says world oil markets will remain tight until 2013, although some pressure could ease during the next two years because of increased supply. In an interview to be published today the agency's executive...
Source: New Zealand Herald - Business | 6 Jul 2008 | 6:30 pm

Suicide bomber kills police in Islamabad

A suicide bomber struck in Islamabad, killing at least 10 people. The victims were mostly policemen deployed on the first anniversary of the storming of the Lal mosque
Source: FT.com - US homepage | 6 Jul 2008 | 6:23 pm

Tories propose fuel duty changes

Changes to the way fuel duty is calculated are being proposed by the Conservatives.
Source: BBC News | Business | World Edition | 6 Jul 2008 | 3:37 pm

The 24/7 Wall St. Bankruptcy Odds Watch II (AMR)(UAUA)(NWA)(GHS)(DAL)(LHS)(LEH)(CAL)(WB)(F)(MNI)(AIG)

There are the 24/7 Wall St. odds that several companies will have to file for Chapter 11 between now and the end of the year. These will become a permanent part of the website and the list will be updated once a week. AMR (AMR) 1 in 2 Lee Enterprises (LEE) 1 in 8 Ford (F) 1 in 25 UAL (UAUA) 1 in 2 Continental (CAL) 1 in 8 McClatchy (MNI) 1 in 25 Northwest (NWA) 1 in 3 Lehman Bros (LEH) 1 in 15 AIG (AIG) 1 in 30 Gatehouse (GHS) 1 in 3 Wachovia (WB) 1 in 20...
Source: 24/7 Wall St. | 6 Jul 2008 | 11:11 am