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Fresh record for euro inflationInflation in the euro area rose to 4.1% in July but rising unemployment may mean interest rates are kept on hold.Source: BBC News | Business | World Edition | 31 Jul 2008 | 11:53 am Surging oil price boosts ShellThe dramatic rise in the oil price in the last six months helped Royal Dutch Shell to post a healthy increase in second-quarter earnings to $7.9bn, though the chemicals division was hit by continued pressure on marginsSource: FT.com - US homepage | 31 Jul 2008 | 11:49 am M&B increases restaurant outletsPub group Mitchells & Butler is to acquire 44 restaurants from Whitbread in exchange for 21 Express by Holiday Inn Lodges.Source: BBC News | Business | World Edition | 31 Jul 2008 | 11:46 am Global stocks, euro shrug off inflation, U.S. GDP eyed (Reuters)
Source: Yahoo! News: Business | 31 Jul 2008 | 11:46 am Deutsche Bank takes further €2.3bn hitTotal writedowns at Germany's biggest bank have risen to more than €5bn this year as the group reported a sharp fall in second-quarter profits, with corporate banking and securities division hit hardestSource: FT.com - US homepage | 31 Jul 2008 | 11:46 am Motorola posts small profit, keeps No. 3 ranking (Reuters)
Source: Yahoo! News: Business | 31 Jul 2008 | 11:42 am Top Pre-Market Analyst Downgrades (AKAM, AVP, CPKI, CBG, FDX, GGP, HOLX, JLL, TIN, THQI, TBL, TROW, USNA)These are the early bird Downgrades and negative calls from analysts we are seeing this Thursday morning: Akamai (AKAM) Cut to Market Perform at FBR. Avon (AVP) Cut to Hold at Deutsche Bank. California Pizza Kitchen (CPKI) Cut to Neutral at Baird. CB Richard Ellis (CBG) Cut to Neutral at JPMorgan. FedEx (FDX) Cut to Equal Weight at Morgan Stanley. General Growth Properties (GGP) Cut to Sell at Citigroup. Hologic (HOLX) Cut to Hold at Jefferies. Jones Lang LaSalle (JLL) Cut to Neutral at JPMorgan. Temple-Inland (TIN) Cut to Neutral at Credit Suisse. THQ (THQI) Cut to Perform at Oppenheimer....Source: 24/7 Wall St. | 31 Jul 2008 | 11:31 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 11:31 am Oil prices turn lower after $4 surgeRead full story for latest details.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 11:31 am Commodity costs crimp Kodak turnaroundSource: Business and financial news - CNNMoney.com | 31 Jul 2008 | 11:29 am Altria profit from continuing operations upCHICAGO (Reuters) - Altria Group Inc on Thursday posted higher profit from continuing operations, boosted by cigarette price increases and lower expenses.Source: Reuters: Business News | 31 Jul 2008 | 11:27 am Investors in wait-and-see modeStock futures rose slightly early Thursday, ahead of a reading on economic growth and earnings from oil giant Exxon Mobil.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 11:27 am Prudential targets the US as Asian insurance business slowsPrudential, UK insurance giant, has stepped up its drive to make acquisitions in the US amid signs that the stellar growth of its Asian business is beginning to come off the boil.Source: Latest Business News from Times Online | 31 Jul 2008 | 11:24 am Kodak posts quarterly profit fallsNEW YORK (Reuters) - Photography company Eastman Kodak Co said on Thursday net income fell and sees its 2008 earnings at the lower end of its previous forecast.Source: Reuters: Business News | 31 Jul 2008 | 11:19 am Motorola posts small profit, revenue beats viewNEW YORK (Reuters) - Motorola Inc posted a small profit on Thursday as revenue beat Wall St estimates on phone sales that were slightly higher than analysts expected.Source: Reuters: Business News | 31 Jul 2008 | 11:19 am Profit boost for Anglo AmericanAnglo American says profits have risen 27% due to increased metals production and higher commodity prices.Source: BBC News | Business | World Edition | 31 Jul 2008 | 11:19 am AstraZeneca ups outlook after 14% profit riseAstraZeneca on Thursday lifts its annual earnings view after reporting a 14% second-quarter profit rise, as the company says it benefited from a weak dollar and cost cutting.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 11:18 am Anglo-American's profits boosted by commodities boomAnglo-American's profits boosted by commodities boomSource: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 11:15 am Anglo-American's profits boosted by commodities boomAnglo-American's profits boosted by commodities boomSource: Telegraph Business | 31 Jul 2008 | 11:15 am Autos and jobs: Stuck in reverseThe July jobs report is due out Friday, the same day that automakers report their U.S. sales for the month.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 11:10 am Nokia cuts phone prices across portfolio: sourcesHELSINKI (Reuters) - Nokia , the world's top cellphone maker, cut prices of many of its phones by up to 10 percent in late July, with the steepest cuts in music and media phones, according to market data and industry sources.Source: Reuters: Business News | 31 Jul 2008 | 11:10 am Commodities Corner: Consumers are working hard this summer to cut gasoline intakeThe lazy days of summer are in full swing with the official season not even half over, but consumers are working hard to cut down their gasoline intake -- and the results have been dramatic.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 11:01 am Credit crunch comes to the mallThe credit crunch isn't just for Wall Street anymore.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 10:58 am Utility merger hopes lift Spain's IbexSpanish utility stocks stood out in an otherwise subdued morning on European exchanges on Thursday, as merger speculation buoyed the sector.Spain's Ibex index was up nearly 1 per cent by midday, outperforming...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 10:50 am Corning sees no slowdownCorning's guesswork fails to keep people confident about its glassworks.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 10:45 am Deutsche Bank writedowns swell beyond $11 billionFRANKFURT (Reuters) - Deutsche Bank AG announced fresh writedowns on Thursday, taking its bill from the global financial crisis beyond $11 billion.Source: Reuters: Business News | 31 Jul 2008 | 10:45 am Stocks tick up but Europe lags on results worryLONDON (Reuters) - Global stocks ticked higher on Thursday following an earlier concerted central bank move to boost liquidity, but a mixed set of corporate results in Europe and a rebound in crude oil prices kept a lid on gains.Source: Reuters: Business News | 31 Jul 2008 | 10:33 am GM (GM) Turns From Downsizing To PanicGM (GM) has developed the pattern of matching bad news with more bad news. Since the company does still have some bright spots, it may want to balance its public relations act. Its relentlessly negative take on its own prospects has begun to drive all confidence in the company out of the markets. The largest car company in the US has announced that it will put 5,000 more poor souls out on the streets. These are white-collar workers and The Wall Street Journal estimates that is about 15% of GM's salaried work force in North America.Source: 24/7 Wall St. | 31 Jul 2008 | 10:32 am Profits soar at hard-hit MizuhoTwo of Japan's largest banks on Thursday unveiled first quarter performance figures that reflected contrasting results amid turbulent market conditions.Mizuho, the Japanese bank that has so far suffered...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 10:31 am Public sector strikes take sting out of pay risesThe average rate of pay rises in the UK fell to 3.5 per cent in the three months to June, providing a rare glimpse of positive data ahead of the Bank of England's decision on interest rates next week.Source: Latest Business News from Times Online | 31 Jul 2008 | 10:26 am Indications: Stock futures point to lower open for Wall StreetA cautious tone ahead of the release of the government’s estimate of U.S. second-quarter gross domestic product and a raft of earnings pressures stock index futures Thursday morning, pointing to a lower open for Wall Street.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 10:22 am FTSE steady after mixed earnings newsLondon equities held steady on Thursday, as investors digested a flurry of earnings reports including disappointing news from BT. But HBOS's interim numbers were welcomed, lifting some of the gloom in...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 10:19 am Frontier funds: Big gains, big riskWhere in the world can you get good returns these days? The gains from foreign equity funds are mighty tempting, especially those of emerging market portfolios, which, despite a recent slump, are up an annualized 25% over three years.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 10:15 am Rising inflation boosts euroThe euro pulled back from a one-month low against the dollar on Thursday as rising inflationary pressure in the eurozone prompted speculation that the European Central Bank would stick to its hawkish stance...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 10:14 am Asia makes small gains on energy stocksMost Asia-Pacific markets managed small gains on Thursday helped by energy-related stocks as oil prices rose.However, gains were muted and with earnings in full flow the push-pull of good and disappointing...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 10:13 am AstraZeneca Lifts 2008 Outlook as Q2 Tops ForecastDrugmaker AstraZeneca Plc lifted its full-year earnings forecast as second-quarter results came in ahead of expectations.Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 10:12 am Deutsche Bank (DB) Follows Merrill Lynch (MER) To Signal Crisis Redux"You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time."--Abraham Lincoln Deutsche Bank (DB) surprised its shareholders and the financial world with a hefty $3.6 billion in writes-offs for the last quarter. According to Reuters, "Deutsche listed its latest injuries from the global crisis, saying it made 1 billion euros of writedowns in residential mortgage-backed securities and a further 500 million euros linked to monoline insurers which insure against bond defaults."Source: 24/7 Wall St. | 31 Jul 2008 | 10:07 am Credit turmoil stings Deutsche BankRead full story for latest details.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 10:06 am Unilever shares come under pressure as profit fallsShares in Unilever fall around 7% Thursday after the consumer products giant says profit declined by almost a fifth in the latest quarter and raw materials prices rose sharply.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 10:01 am Fed credit help extended to 2009The Federal Reserve takes further steps to support banks short of liquidity as credit markets remain strained.Source: BBC News | Business | World Edition | 31 Jul 2008 | 10:00 am Eurozone inflation surges to 4.1%Eurozone inflation jumped to another record high of 4.1 percent year-on-year in July as forecast, data showed but a bleak economic outlook may discourage a further interest rate increase this yearSource: FT.com - US homepage | 31 Jul 2008 | 10:00 am Sierra Neuropharmaceuticals Completes $21.5-Million Series A Funding RoundSource: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 10:00 am Currencies: Dollar edges lower ahead of U.S. GDP dataLONDON (MarketWatch) -- The U.S. dollar edged lower against most major rivals, with the exception of the Japanese yen, ahead of second-quarter U.S. gross domestic product data.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 9:52 am Europe Markets: Europe stocks struggle to extend gainsEurope stocks struggle to build on gains on Thursday after some disappointing earnings from BT Group and Unilever, though oil explorers rise as crude recovers to the $126 a barrel level and as Royal Dutch Shell produces the highest-ever quarterly earnings for a European oil producer.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 9:50 am Wall Street stock futures down; eyes on Exxon, GDP(Reuters) Dow Jones futures were down 0.3 percent on Thursday at 5:25 a.m. EDT and S&P 500 futures were also lower by 0.2 while Nasdaq futures were down by 0.1 percent.Source: Reuters: Business News | 31 Jul 2008 | 9:49 am Google considering venture capital arm: reportSAN FRANCISCO (Reuters) - Google Inc is considering setting up its own venture capital investment arm, the Wall Street Journal said on Wednesday, citing several people briefed on the discussions.Source: Reuters: Business News | 31 Jul 2008 | 9:47 am US vote says cigarettes are drugsThe US House of Representatives votes to treat cigarettes as a drug, meaning it will be regulated by the FDA.Source: BBC News | Business | World Edition | 31 Jul 2008 | 9:42 am HBOS's outlook for the UK housing market is not prettyThe drip-drip approach to bad news continues at HBOS and that's aside from the 72pc collapse in half year pre-tax profits to £848m reported this morning.Source: Telegraph Business | 31 Jul 2008 | 9:40 am BT shares sink to four-year low on profit fallShares in BT plunged 10.9 per cent after revealing that pre-tax profits in the first quarter fell by 7 per cent as the telecoms giant revealed lower margins and a slide in its pension fund from surplus to deficit.Source: Latest Business News from Times Online | 31 Jul 2008 | 9:39 am British TV group BSkyB swings into annual net lossBritish pay-TV giant BSkyB said on Thursday it suffered a net loss in its 2007/2008 financial year, hit by a multi-million pound writedown on its holding in independent television...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 9:39 am Asia Markets: Region ends mixed as resources rise, airlines dropAsian markets end mixed Thursday, with resource shares such as BHP Billiton and Santos advancing in Sydney on an overnight rebound in crude-oil prices, while Shanghai-listed stocks drop for the third straight session on refining and airline stocks.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 9:36 am Starbucks (SBUX) Chases The Economy Towards Its BottomStarbucks (SBUX) posted its first loss as a public company but gave investors something to hang on to. It reaffirmed that it will do better in fiscal 2009. To do that the company has to assume that a series of expense cuts coupled with better sales will cause a rebound in earnings. Not likely.Source: 24/7 Wall St. | 31 Jul 2008 | 9:35 am Layoffs possible for 22K California state workersThe California Department of Motor Vehicles, infamous for its long lines, recently cut in half the wait to get a driver's license. The agency accomplished the feat largely by hiring...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 9:34 am Wall Street hangs 'Help Wanted' signNo one would dare go so far as to say that the Wall Street job market is bright.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 9:28 am Shell Reports a Profit Jump Despite Reduced ProductionRoyal Dutch Shell, Europes largest oil company, reported a 33 percent increase in second-quarter profit, helped by a higher oil price.Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 9:27 am London Markets: BT shares stumble as London market edges lowerA disappointing first-quarter performance sent shares in telecoms company BT Group sharply lower Thursday, weighing on the broader U.K. market, while HBOS gains after a sharp drop in its earnings wasn’t as bad as some investors had feared.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 9:24 am Trinity Mirror revenues fall as ad sales sinkTrinity Mirror on Thursday said the challenging advertising environment had continued in July, with advertising revenues falling by about 15 per cent year-on-year.The publisher of the Daily Mirror and...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 9:18 am New customers boost BSkyBBSkyB recorded its highest level of new customers for five years, as more people opted to stay on their sofas and watch television in the face of economic gloom.BSkyB said 92,000 new customers had signed...Source: Infocious RSS raw feed - channel BNPaperBusiness | 31 Jul 2008 | 9:15 am Centrica profits singed by British Gas costsCentrica, the owner of British Gas, today reported a 17pc fall in first-half profits as the surge in wholesale gas prices hammered its retail business.Source: Telegraph Business | 31 Jul 2008 | 9:10 am Centrica profits singed by British Gas costsCentrica, the owner of British Gas, today reported a 17pc fall in first-half profits as the surge in wholesale gas prices hammered its retail business.Source: Telegraph Business | 31 Jul 2008 | 9:10 am HBOS pre-tax profits fall by 72%HBOS sees profits before tax fall 72% in the first six months of the year as write-offs and bad debts rise sharply.Source: BBC News | Business | World Edition | 31 Jul 2008 | 9:08 am T. Boone Pickens For PresidentT. Boone Pickens is a Whirling Dervish of a man. At 84, he spins from Congressional appearances to CNN and then stages his own town hall meetings on alternative energy. Pickens now makes more appearances than either of the presidential candidates. His are for alternative energy policy, and he means to get out the vote.Source: 24/7 Wall St. | 31 Jul 2008 | 9:00 am Toys"R"Us, Inc. and Disney Announce Exclusive Launch of Specially Designed Halloween CostumesCritical Work of Children Affected by AIDS Foundation to be Highlighted as Part of this Campaign WAYNE, N.J., July 31 /PRNewswire/ -- Today, Toys"R"Us, Inc....Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 9:00 am Fleetwood Sheds a Few Pounds With the Launch of Brand-New 2009 Backpack and Compass Ultralite Travel TrailersRIVERSIDE, Calif., July 31 /PRNewswire-FirstCall/ -- Fleetwood Enterprises' RV Group, a leading producer of recreational vehicles, today announced the launch of two...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 9:00 am BSkyB customers rise, but profits fallBSkyB said fourth-quarter net new customers rose by a better than expected 92,000 and is confident of further growth despite economic uncertainty, although profits fell as the satellite broadcaster's investment in ITV took its toll.Source: Latest Business News from Times Online | 31 Jul 2008 | 8:56 am Sanofi-Aventis halts drug development as net fallsSanofi-Aventis shares fall sharply on Thursday as the French pharmaceutical company discontinues development of several drugs and reports a 4% fall in second-quarter profit.Source: MarketWatch.com - Top Stories | 31 Jul 2008 | 8:54 am NY law firm Cadwalader to lay off 96 lawyers: report(Reuters) - New York law firm Cadwalader, Wickersham & Taft LLP is laying off 96 lawyers, most of whom worked in the real-estate finance and securitizations practices, the Wall Street...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 8:52 am British American Tobacco Plc: Interim Report to 30 June 2008LONDON, July 31 /PRNewswire-FirstCall/ -- SUMMARY SIX MONTHS RESULTS 2008 2007 Change - unaudited ...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 8:43 am Deutsche Bank writedowns swell beyond $11 billion (Reuters)
Source: Yahoo! News: Business | 31 Jul 2008 | 8:36 am Trinity Mirror announces 8% sales diveTrinity Mirror, the owner of the Daily Mirror, has reported an 8 per cent drop in first-half sales and a 15 per cent decline in July advertising revenue, prompting it to implement further cost-cutting measures. It needs to save a further £20 million next year.Source: Latest Business News from Times Online | 31 Jul 2008 | 8:36 am Oil prices drift lower after strong reboundWorld oil prices eased on Thursday after a rebound of more than four dollars the previous day that was driven by an unexpected decline in US petrol stockpiles, analysts said.Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 8:35 am BT posts sliding profits in first quarterTelecoms operator BT Group said on Thursday that net profits sank 35 percent in the first quarter of its fiscal year amid fierce competition for broadband Internet services and higher...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 8:34 am Continental second-quarter profit down 36%German auto parts group Continental was hit by a sector slump in the second quarter but maintained on Thursday its full-year outlook. Continental said net profit fell by 36...Source: Infocious RSS raw feed - channel BNewsBusiness | 31 Jul 2008 | 8:31 am Hasbro (HAS) Would Be Nuts Not To Fight "Scrabulous"Hasbro Inc. (HAS) is getting quite a bit of flack from every corner of the Internet for waging a legal battle against the popular Facebook knock-off of Scrabble called "Scrabulous." Much of the criticism is dead wrong.Source: 24/7 Wall St. | 31 Jul 2008 | 8:31 am Shell posts record profit on high oilRead full story for latest details.Source: Business and financial news - CNNMoney.com | 31 Jul 2008 | 8:09 am Deutsche writes down 2.7bn eurosDeutsche Bank reveals fresh hits from the sub-prime crisis as its profits are sharply down.Source: BBC News | Business | World Edition | 31 Jul 2008 | 8:06 am Media Digest 7/31/2008 Reuters, WSJ, NYTimes, FT, BloombergAccording to Reuters, T Boone Pickens is seeking an "army" of business leaders and citizens to back alternative energy. Reuters reports that Starbucks (SBUX) posted if first loss as a public company but back its forecast for the next fiscal.Source: 24/7 Wall St. | 31 Jul 2008 | 7:50 am Shell shock as oil giant misses targetsRoyal Dutch Shell today unveiled a 5 per cent increase in second-quarter profits to $7.9 billion ($£3.9 billion), missing forecasts as the oil giant revealed that it had suffered a steep plunge in earnings from its chemicals division.Source: Latest Business News from Times Online | 31 Jul 2008 | 7:32 am Ex-Credit Suisse broker missing as securities probe nears: report(Reuters) - A former Credit Suisse broker charged with fraud in an auction rate securities scam may have fled to his native Bulgaria, the Wall Street Journal reported on Thursday, citing people familiar with the case.Source: Reuters: Business News | 31 Jul 2008 | 7:30 am Asia Market 7/31/2008 (NTT)(CN)(SNP)Markets in Asia were mixed. The Nikkei was up .1% to 13,377. NEC was up 2.4% to 593. NTT (NTT) was up 4% to 553000. The Hang Seng was up .3% to 22,764. China Netcom (CN) was up 1.9.% to 24.00. China Petroleum (SNP) was down 2.1% to 8.12. The Shanghai Composite fell 1.6% to 2,791. Data from Reuters. Douglas A. McIntyreSource: 24/7 Wall St. | 31 Jul 2008 | 7:24 am Shell, Anglo American and Mitchells & Butlers: Roundup for July 31Shell, Anglo American and Mitchells & Butlers: Roundup for July 31Source: Telegraph Business | 31 Jul 2008 | 7:20 am Ex-Credit Suisse broker missing as securities probe nears: repor (Reuters)
Source: Yahoo! News: Business | 31 Jul 2008 | 7:11 am Investors less animated about DreamWorks SKGSecond-quarter results beat estimates, but analysts lower their forecasts for future earnings.Wall Street is scaling back its dreams for shares of DreamWorks Animation SKG. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Botox maker Allergan's profit rises 6.9%Allergan Inc., maker of the wrinkle smoother Botox, said second-quarter profit rose 6.9% as overseas sales of facial treatments and prescription eye-care products helped the Irvine company weather a slowing U.S. economy.Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Mervyns woes cast pall at mallsThe department-store chain's bankruptcy filing and possible closures may increase pressure on rents.For California shopping centers, this week's bankruptcy filing by the Mervyns department store chain threatens to become another big headache. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Gasoline prices are rolling over teens' summer funStudents say they're feeling the pressure of having to work just to keep the tank filled. And families are cutting back on outings.This may be one summer when students can't wait to get back to school, just to be reminded that they aren't adults yet. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Disney beats forecasts with a 9% profit gainThe strong performance of ESPN and overseas expansion of the Disney Channel help buoy results for the entertainment company's fiscal third quarter.Walt Disney Co. continues to defy economic gravity. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Regulators set special inspection of Edison's San Onofre nuclear plantIt will be the third such visit in the last 12 months, this time to ensure that electrical problems with backup power systems have been fixed.Regulators are launching a special inspection at Southern California Edison's San Onofre nuclear plant to make sure the utility fixed electrical problems with crucial backup power systems, the Nuclear Regulatory Commission said Wednesday. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am FDA puts new restrictions on Amgen's AranespA warning label will state that the anemia treatment should not be taken by some cancer patients.Aranesp, biotech giant Amgen Inc.'s once-highflying anemia drug, took another hit Wednesday when the Food and Drug Administration ordered new restrictions on the way physicians prescribe it to cancer patients. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Salmonella 'smoking gun' found on Mexican farmU.S. investigators trace the strain responsible for the four-month outbreak to a serrano pepper and irrigation water.A strain of the salmonella bacteria that sickened more than 1,300 people has been found in a serrano pepper and a sample of irrigation water at a farm in Mexico, U.S. health officials said Wednesday. Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am Stocks surge higher, fed by energy sectorStocks soared for the second straight day Wednesday, led by shares of energy companies, after oil jumped more than $4 a barrel and a private report showed an unexpected increase in jobs.Source: L.A. Times - Business | 31 Jul 2008 | 7:00 am HBOS plunges more than 70%HBOS, owner of Halifax and Bank of Scotland, today revealed further credit crunch pain in its half-year figures that announced a massive slump in profits.Source: Latest Business News from Times Online | 31 Jul 2008 | 6:51 am British Gas owner makes almost £1bn profitBritish Gas owner Centrica revealed a profit of nearly £1 billion this morning, just hours after unveiling the largest energy price hike in UK history — of up to 44 per cent.Source: Latest Business News from Times Online | 31 Jul 2008 | 6:39 am Oil prices boost Shell's resultsHigh oil prices give another boost to profits from Royal Dutch Shell, making up for difficult conditions in its retailing arm.Source: BBC News | Business | World Edition | 31 Jul 2008 | 6:36 am Nationwide warns of recession as house price drop doublesNationwide, the UK's biggest building society, today gave warning that a recession could be on the way after the average house price in the year to July plunged to a three-year low of £169,316.Source: Latest Business News from Times Online | 31 Jul 2008 | 6:23 am MPC's Tim Besley is ready to slay the dragon of inflationThe spectre of the 1970s haunt Tim Besley and explains why the Bank policymaker wants an interest rates rise, writes Edmund ConwaySource: Telegraph Business | 31 Jul 2008 | 6:20 am NZ business gets even gloomier, says bank surveyBusiness confidence has worsened in the National Bank Business Outlook July survey released this afternoon. A net 43.2 per cent of those surveyed expect worse times over the year ahead, which is a deterioration from the net 38.7...Source: New Zealand Herald - Business | 31 Jul 2008 | 4:35 am China unveils more pollution rules for GamesChina has announced a slew of emergency measures in case air pollution remains poor during the Olympics, including taking more cars off the roads and slashing production at more than 220 factoriesSource: FT.com - US homepage | 31 Jul 2008 | 4:30 am Not enough wind, not enough rain - TrustPower earnings slumpTrustPower says earnings will be hit by a lack of wind for its turbines and a lack of rain for its dams during the first part of this year. Low hydro inflows and not enough wind meant it was pushed into buying power to supply...Source: New Zealand Herald - Business | 31 Jul 2008 | 4:00 am Grocery giants mull Warehouse tactics after takeover blockedSupermarket chains Foodstuffs and Woolworths are considering their next moves after the Court of Appeal prevented them launching takeover bids for The Warehouse. Foodstuffs managing director Tony Carter said his organisation would...Source: New Zealand Herald - Business | 31 Jul 2008 | 3:00 am KiwiSaver breaks three quarter million markThe number of people signed up to KiwiSaver has broken three quarters of a million. It is almost 13 months since the retirement savings scheme was launched and as of late last week it had over 753,000 people signed up to it. That...Source: New Zealand Herald - Business | 31 Jul 2008 | 1:30 am Trends & Innovations - WednesdayMore going online to watch TVSource: Investor's Business Daily: BUSINESS | 31 Jul 2008 | 12:33 am Software That Tests Airplane Wings Will Go For Gold In BeijingRecords have been falling in swim meets around the world as the Summer Olympics approaches. Could it have something to do with the new bathing suits?Source: Investor's Business Daily: BUSINESS | 31 Jul 2008 | 12:33 am In Brief - WednesdayHess (HES), a U.S. oil company, said Q2 EPS soared 62% to $2.76, meeting forecasts. Revenue surged 58% to $11.72 bil, smashing views. Shares...Source: Investor's Business Daily: BUSINESS | 31 Jul 2008 | 12:33 am Business Briefs - WednesdayExpress Scripts tops on generics. The company that administers prescription drug benefits for employers and health plans said after hours that Q2...Source: Investor's Business Daily: BUSINESS | 31 Jul 2008 | 12:33 am After The Close - WednesdayCIRCOR (CIR), a valve maker, said Q2 EPS rose 71% to $1.08, beating views by a dime. Sales rose 25% to $207 mil. Shares climbed 2%.Source: Investor's Business Daily: BUSINESS | 31 Jul 2008 | 12:33 am US delays accounting changesBanks have been given a one-year reprieve by US accounting standard-setters from having to take up to $5,000bn of debt assets on to their balance sheets, easing fears that they would be forced to raise large amounts of new capital quicklySource: FT.com - US homepage | 31 Jul 2008 | 12:25 am Provident Financial takes custom from rivalsSpecialist lender Provident Financial has tightened criteria on its card products four times since the credit crisis took hold as it steels itself for a broad economic downturn.Source: Telegraph Business | 31 Jul 2008 | 12:01 am City calls to speed up rights issuesA group of City figures whose companies control billions of pounds of investments have weighed into the debate over rights issues by calling for a shorter timetable to raise new capital.Source: Telegraph Business | 31 Jul 2008 | 12:01 am Alistair Darling must not tamper with inflation target, Tim Besley warnsAlistair Darling must avoid at all costs the temptation to tamper with the Bank of England's inflation target, one of the members of the Monetary Policy Committee has warned.Source: Telegraph Business | 31 Jul 2008 | 12:01 am TNK-BP board to review venture's spending plansThe board of BP's Russian oil joint venture, TNK-BP, will review the operation's capital spending plans, one of the key points of dispute in the bitter power struggle between the UK company and its billionaire partners.Source: Telegraph Business | 31 Jul 2008 | 12:01 am FDIC has its work cut out to find a buyer for IndyMac, chairman suggestsSource: L.A. Times - Business | 30 Jul 2008 | 11:45 pm NZ stocks: Warehouse well down, but wider market gainsShares in retailer The Warehouse tumbled when the stock exchange opened today, following a Court of Appeal decision preventing takeover bids by Woolworths and Foodstuffs. A few minutes after the NZX's 10am opening, The Warehouse...Source: New Zealand Herald - Business | 30 Jul 2008 | 11:40 pm No Time for Mouse-ka-fearsIt was a friendly afternoon for Disney boss Bob Iger and his moneyman, C.F.O. Tom Staggs—at least in the sense that not one analyst on its earnings conference call asked whether tween queen Miley Cyrus will be defecting from the House of Mouse.So despite weakness in key businesses, the third quarter conference call was pretty much bereft of drama surrounding the headlines involving a flap over the future of the valuable Hannah Montana television series that came when megastar Cyrus indicated this week that the third season, set to start production Monday, might be her last. Instead, the only truly awkward moment of the call came when a Lehman Brothers analyst suggested that Apple chief Steve Jobs, the giant’s largest shareholder, and Iger had differing opinions on the merits of distributing the company’s content–say, for free over the Internet—without regard for monetizing it. “Disney’s decisions are made just by the management of the Walt Disney company, and are not determined or influenced by outside entities, including Steve,” snapped Iger. “I happen to believe that in a world where more and more people are migrating online to access information and entertainment, the Walt Disney Company would be served well by having a very strong presence in that environment.” That was the backdrop to a third quarter during which Disney reported third quarter earnings per share of 66 cents, up nine cents over the same period last year. Disney execs were more than happy to discuss its theme park business, which constituted 30 percent of the company’s revenue in the first nine months of this fiscal year, and was the subject of over half the analyst questions, most of them deferential and complimentary as the parks have performed surprisingly well in a difficult economic climate. Sample question? Why is business at the parks—where revenue for the quarter is up 5 percent to $3 billion and operating income up 3 percent to $641 million—holding up so well in a difficult travel environment, with flat hotel bookings and high fuel costs? Turns out, international parks like Disneyland Paris benefited from the strength of the euro and higher guest spending and attendance, while domestic resorts including Walt Disney World and Disneyland suffered decreased attendance, a factor nevertheless offset by higher guest spending. Advantage Iger. The parks certainly emerged looking better than Disney’s movie business, where revenue fell to $1.4 billion from $1.8 billion, and operating income was down as well. You can blame this quarter’s The Chronicles of Narnia: Prince Caspian for that: the flick bombed in theaters, especially compared to last year’s Disney blockbuster Pirates of the Caribbean: At World’s End. Disney’s television unit was also battered by bad news, mainly on the broadcast side. ABC, the company’s beleaguered network, has suffered low prime-time ratings and the broadcast unit overall ended the quarter down 11 percent in operating income. Cable networks fared better, with particular growth at ESPN. Finally, revenue and operating income from consumer products and merchandise sales were both up, thanks to the acquisition of Disney Stores in North America—although that unit accounts for just 7 percent of the company’s revenue. Forget Hannah Montana, political infighting, and ABC. Perhaps what Iger should really do is open more theme parks. Related Links Disney Rides 'Hogs' to Big Quarter Disney Damage Control Marketing Miley Source: Portfolio.com: Top 5 | 30 Jul 2008 | 11:30 pm Difficult DubaiFirms help staff understand laws of the landSource: BBC News | Business | World Edition | 30 Jul 2008 | 11:03 pm British Airways-Iberia merger: unions seek talks over possible job lossesUp to 7,000 jobs could go as a result of British Airways’ proposed merger with Iberia, the Spanish flag carrier, prompting unions to demand a meeting with company managements.Source: Latest Business News from Times Online | 30 Jul 2008 | 11:00 pm Black and BrewWhen Howard Schultz returned to Starbucks promising headline-grabbing changes, posting the company's first-ever quarterly loss was probably not the type of transformation he had in mind.But on Wednesday, for the first time in the Seattle-based coffee chain's 16-year history, it announced a loss of 1 cent per share. Although that number includes 17 cents per share in write downs related to restructuring, even excluding those items, the company still fell short of the 18 cents analysts were expecting. Plagued by overexpansion followed by sluggish consumer spending and rising commodities costs, Starbucks has spent the first part of 2008 pitching an uphill battle to regain its footing. On an earnings call Wednesday evening, Schultz described his "unwavering confidence" in Starbucks' strength and resilience, describing the chain as "battling a perfect storm" in the economy. "We're playing both offense and defense in our approach to the current business," said Schulz. He couldn't be more right. Schulz started off 2008 trying to score touchdowns. He instituted better employee training and unveiled state of the art coffee machines. He gave Starbucks a loyalty program. Most visibly, Schultz launched shiny new products such as the Pike Place Roast coffee blend and Vivanno smoothies, and introduced a frozen drink called the Sorbetto to the L.A. market. Since he reclaimed the reigns as C.E.O. in January, Schultz has been preaching plans of "re-aligning the Starbucks organization and streamlining the management" - a euphemism that hints that the corporate turnaround won't be all sunshine and banana chocolate smoothies. If the first sixth months of this year were all about offense, as if on cue, on July 1 Schultz waved the defense onto the field. On that day Starbucks announced 600 U.S. stores would be on the chopping block. Yesterday, the company followed that by saying that 1,000 management positions would be eliminated, and 61 Australian stores (70 percent of its presence) are set to close. Schultz has also moved operations expert Martin Coles back into his role as the company's President. Wednesday's results make it clear that there's a long road ahead for Starbucks. The company was $6.7 million in the red for its third quarter, compared with $158.3 million profit a year earlier; for the third straight quarter U.S. same store sales have declined. The coffee chain also revised its 2008 earnings outlook to the "mid-seventy-cent range" on revenue growth of about 11 percent. Earlier this year, Starbucks projected 2008 per-share earnings "somewhat lower" than 87 cents, on revenue up 13 percent to 14 percent. On the bright side, once the 600 stores close, same store sales are almost certain to point upward. Related Links Eat Sheet: Coffee Starbucks Cools Off Decoded: Starbucks Goes Back to Basics Source: Portfolio.com: Top 5 | 30 Jul 2008 | 11:00 pm Economy - Wednesday (Investor's Business Daily)Investor's Business Daily - Employment listings posted on Internet job boards fell 7.9% to 3.86 mil in July from about 4.19 mil in June, according to the Conference Board. July is typically a slow month, but the figures were below forecasts. There were 4.08 mil help-wanted ads posted a year ago. The private research group said there is little sign of any upturn soon.Source: Yahoo! News: Business | 30 Jul 2008 | 10:49 pm Chrysler in talks with Tata and Fiat: sources (Reuters)
Source: Yahoo! News: Business | 30 Jul 2008 | 10:43 pm Chrysler in talks with Tata and Fiat: sourcesDETROIT (Reuters) - Chrysler is in talks to lease U.S. production capacity and share retail distribution with Fiat SpA, allowing the Italian automaker to return the U.S. market for the first time in 25 years, people briefed on the talks said on Wednesday.Source: Reuters: Business News | 30 Jul 2008 | 10:43 pm Morgan Stanley could spend $1bn on new hiresMorgan Stanley plans to use up to $1bn saved from cutting 4,800 jobs this year to hire top-level executives and bolster its presence in areas such as derivatives, risk management and proprietary tradingSource: FT.com - US homepage | 30 Jul 2008 | 10:34 pm Theme parks animate Disney profitWalt Disney shakes off concerns about slowing attendance at its theme parks, reporting a 9% rise in quarterly profits.Source: BBC News | Business | World Edition | 30 Jul 2008 | 10:26 pm NZOG reports $234m full year revenue - Tui oil field going strongNew Zealand Oil and Gas (NZOG) has reported full year revenues of $234.6 million, up from $4.2 million the year before due to earnings from the Tui area oilfields off the Taranaki coast. The company has a 12.5 per cent holding...Source: New Zealand Herald - Business | 30 Jul 2008 | 10:00 pm Fast food takes off during tough timesAs the economy slides down, burgers sales start sizzling. Jeremy Hobson reports as a part of an ongoing series of unusual economic indicators.Source: Marketplace | 30 Jul 2008 | 9:55 pm More TV viewers tuning in onlineTwenty percent of TV viewers are tuning in exclusively on their computers, leaving networks and advertisers scrambling to find a way to capture the evolving market. Steve Henn reports.Source: Marketplace | 30 Jul 2008 | 9:55 pm Cricket takes a lesson from U.S. sportsIn an attempt to boost interest in cricket, India is following the models of U.S. sports leagues, creating a faster-paced, flashier sport -- a strategy that is paying off. Mehul Srivastava reports.Source: Marketplace | 30 Jul 2008 | 9:55 pm Best Beach Reads: Leisure class theoryCommentator Robert Reich continues our series on the best beach reads with a look back at economics during the Gilded Age with Thorstein Veblen's "The Theory of the Leisure Class."Source: Marketplace | 30 Jul 2008 | 9:55 pm Iraq in need of spending lessonsA new report says Iraq's flush with money, but if that's true, why are so many of its residents still without basic infrastructure? Host Kai Ryssdal asks Stuart Bowen where Iraq's cash is going and where it isn't.Source: Marketplace | 30 Jul 2008 | 9:55 pm Truck shipments continue to increaseA shipping trade group says truck shipments were up in June for the eighth consecutive month. Does this mean the economy's on the road to recovery? Amy Scott reports.Source: Marketplace | 30 Jul 2008 | 9:55 pm Automakers scaling back on leasesThe Big Three automakers are giving their leasing practices an overhaul after getting slammed with losses by falling SUV and truck resale values. Dan Grech reports.Source: Marketplace | 30 Jul 2008 | 9:55 pm Fed keeps the lending window openWall Street will continue to be able to take out emergency loans from the Federal Reserve through next year. Host Kai Ryssdal asks economist Cary Leahy about the impact of the Fed's lending.Source: Marketplace | 30 Jul 2008 | 9:55 pm Barclays Capital's Kantor Sees U.S. Economic GrowthSource: Bloomberg - All Podcasts | 30 Jul 2008 | 9:51 pm BNZ head named to run parent operation in AustraliaBank of New Zealand chief executive Cameron Clyne has been named to take over from John Stewart at the National Australia Bank - Australasia's biggest lender - from January 1 in Australia. He will become chief executive-designate...Source: New Zealand Herald - Business | 30 Jul 2008 | 9:45 pm Office supply retailers struggle in North America (AP)
Source: Yahoo! News: Business | 30 Jul 2008 | 9:36 pm Big loss for ABC Learning CentresSYDNEY - Australian childcare operator ABC Learning Centres Ltd said it will write down A$213 million ($278 million), not pay a final dividend and declare a full-year pre-tax loss. The company will post a pre-tax loss of A$437m...Source: New Zealand Herald - Business | 30 Jul 2008 | 9:30 pm VIX Index of U.S. Stock Prices Retreats 3.7 % to 21.21Source: Bloomberg - All Podcasts | 30 Jul 2008 | 9:28 pm State Street's Anderson Discusses ETF StrategySource: Bloomberg - All Podcasts | 30 Jul 2008 | 9:24 pm Buying a Refurbished Computer (Deal of the Day)Buying one can save you a bundle. Follow these rules to ensure you don't buy a lemon.Source: SmartMoney.com | 30 Jul 2008 | 9:06 pm Trade talks failure a $1b blowThe collapse yesterday of World Trade Organisation talks aimed at liberalising international trade has pushed a billion-dollar prize out of New Zealand's grasp and left business leaders bitterly disappointed. Tim Groser, National...Source: New Zealand Herald - Business | 30 Jul 2008 | 9:00 pm Standard Oil Earnings On Deck: Exxon vs. Chevron (XOM, CVX)This week has already been an interesting week in the oil patch, but for big oil stocks the expression "You ain't seen nothin' yet" is perhaps more appropriate than ever. On Thursday morning we'll see earnings from Exxon Mobil Corp. (NYSE: XOM) and on Friday morning we'll see earnings from Chevron Corp. (NYSE: CVX). Perhaps the biggest takes Wall Street is interested in hearing is the stances on any hedges versus how the public comes up versus how much money these companies are making off of the public at the pump. Today's rapid rise in oil has been a help...Source: 24/7 Wall St. | 30 Jul 2008 | 8:55 pm Emirates prepares for takeoff with its first superjumbo A380The Herald's aviation reporter Grant Bradley likes planes - lucky - since he's spending around 70 hours solid hours flying on a global odyssey this week, including a whistle-stop flight to New York on Emirates Airlines' first commercial...Source: New Zealand Herald - Business | 30 Jul 2008 | 8:44 pm Expensive ETFs Come With Liquidation Risk (The Irritable Investor)Expense ratios aren't the only reason to be wary of costly exchange-traded funds.Source: SmartMoney.com | 30 Jul 2008 | 8:36 pm Fed lays on extra liquidity supportThe Federal Reserve ramped up its liquidity support operations again in an effort to reduce money market strains and pre-empt the possibility of funding crises at the year-end or at other stress pointsSource: FT.com - US homepage | 30 Jul 2008 | 8:34 pm Visa's Earnings Cheer: "Charge!" (V)Credit card clearing and processing giant Visa Inc. (NYSE: V) just posted earnings with an adjusted $0.59 EPS on $1.6 Billion in revenues. First Call had estimates pegged at $0.48 EPS on $1.55 Billion. Even if you use GAAP estimates for financials, the company posted $0.51 EPS. Despite a weak consumer, which everyone believes Visa is immune from entirely, Visa is raising its 2008 targets. Its sees adjusted operating margin in the mid-40% range. The company is going out on a limb and calling for 2009 and 2010 to see adjusted operating margins in the mid to high 40% range.Source: 24/7 Wall St. | 30 Jul 2008 | 8:33 pm Energy ETFs Jump on Inventory Report (Daily ETF Wrap-Up)Surprising decrease in weekly inventories sends oil higher once again.Source: SmartMoney.com | 30 Jul 2008 | 8:26 pm Late Surge Preserves RallyStocks finished in the black for the second straight day on gains among financials and energy stocks.Source: SmartMoney.com | 30 Jul 2008 | 8:24 pm Small-Cap Funds Appear Ready for Comeback (Fund Insight)Out of favor for years, small-stock funds are starting to heat up once again.Source: SmartMoney.com | 30 Jul 2008 | 8:18 pm Emerging Markets Take Shine to Avon's Products (One-Day Wonder)Avon doubled its profits thanks to booming demand in Brazil and Russia.Source: SmartMoney.com | 30 Jul 2008 | 8:17 pm Renwick Says NY State Aid Cuts Would Shift Burden LocallySource: Bloomberg - All Podcasts | 30 Jul 2008 | 7:49 pm Author Meredith Says Infrastructure Sparked China's GrowthSource: Bloomberg - All Podcasts | 30 Jul 2008 | 7:46 pm Pax fined for failure to screen investment funds (AP)AP - Pax World Management Corp. has agreed to pay a $500,000 fine because it failed to follow its own socially responsible investing criteria over a five-year period, when two of its mutual funds invested in off-limits industries such as gambling and liquor, and oil and gas exploration.Source: Yahoo! News: Business | 30 Jul 2008 | 6:56 pm Pax fined for failure to screen investment funds (AP)AP - Pax World Management Corp. has agreed to pay a $500,000 fine because it failed to follow its own socially responsible investing criteria over a five-year period, when two of its mutual funds invested in off-limits industries such as gambling and liquor, and oil and gas exploration.Source: Yahoo! News: Business | 30 Jul 2008 | 6:56 pm 8 Stocks Enjoying Ample Insider Buying (Stock Screen)When company insiders are buying up their own shares, you should too.Source: SmartMoney.com | 30 Jul 2008 | 5:59 pm Mittal bullish on steel outlookSupply constraints and strong demand would put a firm floor under prices and profits for the steel industry until at least 2011, Lakshmi Mittal, chairman and chief executive of ArcelorMittal, forecastSource: FT.com - US homepage | 30 Jul 2008 | 5:52 pm Merrill Sells $8.55 Billion of Stock, Unloads CDOsSource: Bloomberg - All Podcasts | 30 Jul 2008 | 5:50 pm Moody's downbeat on credit market reboundMoody's, the second-largest credit rating agency, said it remained cautious about the prospects of a recovery in the credit markets this year and was expecting declines in structured finance revenue of over 50 per centSource: FT.com - US homepage | 30 Jul 2008 | 5:19 pm Buying a Condo for a College Kid Is a Tax-Smart Move (Tax Guide)Buying a place for your college-bound kid (and their friends), can be a tax-smart move.Source: SmartMoney.com | 30 Jul 2008 | 3:36 pm China Muzzles its Money ManagersIf you don't have something nice to say, don't say anything at all.That's a fine motto to live by socially, but it takes on a whole new meaning when it's directed at money managers by China's securities regulators. The China Securities Regulatory Commission, which is that country's version of the Securities and Exchange Commission, recently ordered domestic fund managers to avoid saying anything negative about Chinese stocks. The missive is part of a broad effort by the Chinese government to maintain stability in its financial markets ahead of the Olympics. "We want to remind all the fund companies to strengthen your management of external comments to produce and maintain the good image of the fund industry," the C.S.R.C. statement read. The benchmark Shanghai Composite Index has lost half its value since the start of this year. This isn't the first time the government has muzzled the naysayers. In May it ordered money managers to avoid unloading stocks after the devastating earthquake. But Chinese investors aren't so easily fooled by the sudden absence of any negative commentary. The benchmark index has fallen slightly since the order was issued. Earlier this month, the regulator asked some senior fund managers to avoid overseas travel before and during the Olympic games and to be sure the C.S.R.C. can reach them at all times, according to a report by Dow Jones. How do these money managers feel about being told to keep quiet? Some of them spoke anonymously with the South China Morning Post about their frustration. "The regulator has been harping about discipline for ages," said one fund manager, who noted that the wording of the statement revealed the regulator's nervousness. "Somehow, we have to shut up to avoid unnecessary trouble due to the warning." According to the paper, the securities regulator also required four financial newspapers to publish upbeat reports about the market. Already, the Xinhua news agency obeyed orders. "If prices fall to a certain level, stocks must be undervalued and a rally will follow," it wrote. So what will Chinese stocks really end up doing this year? Roth Capital Partners' Donald Straszheim thinks they won't move much for a while. "The widespread view that Chinese equities will fall after the Olympics is likely to keep investors cautious until there is greater clarity on China's economy, on the U.S.-Europe-Japan economies and markets, and on the credit-market problems and on oil and energy," he wrote in a report yesterday. Related Links China IPO Datapoint of the Day Shanghai Sell-Off Investor Beware Source: Portfolio.com: Top 5 | 30 Jul 2008 | 3:30 pm Stocks Anticipate News Rather Than React to It (Tradecraft)Stocks anticipate news rather than react to it. Plus: The carry trade is back.Source: SmartMoney.com | 30 Jul 2008 | 3:14 pm 8 Small-Cap Stocks With Big Growth Potential (Stock Screen)We found eight up-and-coming companies with plenty to offer growth investors.Source: SmartMoney.com | 30 Jul 2008 | 3:14 pm Telephone and internet boost for ComcastBig customer gains for its broadband internet and internet telephony services helped Comcast, the largest US cable-television operator, boost second-quarter profit by 7.5 per centSource: FT.com - US homepage | 30 Jul 2008 | 2:11 pm Wyeth Shares Tumble on Brain Risk in Alzheimer's DrugSource: Bloomberg - All Podcasts | 30 Jul 2008 | 1:44 pm 360? Maybe Not.Live Nation may have signed huge deals with Madonna, Shakira, and Jay-Z, but the upstart music company is looking to the major labels to distribute its tunes.According to a report in the New York Post this morning, Live Nation has been in talks with the likes of Warner Music Group and the other big music companies to get the music out to customers. Live Nation has made a splash in the business, signing so-called "360 deals" to handle everything from recording music to concert tours to merchandising for music acts. C.E.O. Michael Rapino has signed Madonna, Jay-Z, Nickelback, and Shakira to the deal but doesn't have a new album from any of them due out for at least 18 months, the Post said. Last week, Live Nation dumped three industry veterans originally signed to build a label within the company. The paper also posited the company could explore exclusive deals with major retailers such as Wal-Mart and Target. Any deal with a major music company could be awkward: for instance, distributing a new Madonna album with Warner Music, her former label. Related Links Hip Hop VC Material Woman Live Nation Plays On Source: Portfolio.com: Top 5 | 30 Jul 2008 | 11:00 am
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