|
|
|
|
Rackspace Gets Ready For IPO (RAX)This week will mark another somewhat unusual mark for IPO's as a technology and communications player with an established names is set to come public. Rackspace Hosting, Inc. (NYSE: RAX) is coming public at a strange time, yet it has shown growth, has a solid name, and is profitable. As a reminder, this is coming under the OpenIPO format from W.R.Hambrecht and bidding can be completed at rackspaceipo.com. Underwriters in the group are Goldman Sachs, Credit Suisse, Merrill Lynch, and WRHambrecht. On last look, the company is offering 15,000,000 shares with an expected range of $12.00 to $16.00, which will...Source: 24/7 Wall St. | 4 Aug 2008 | 12:54 pm Consumer spending after inflation drops in June (AP)
Source: Yahoo! News: Business | 4 Aug 2008 | 12:46 pm Futures lower after inflation data rises (Reuters)
Source: Yahoo! News: Business | 4 Aug 2008 | 12:46 pm Wall Street slightly lower after spending report (AP)
Source: Yahoo! News: Business | 4 Aug 2008 | 12:44 pm Artful investingCould a passion for paintings be profitable?Source: BBC News | Business | World Edition | 4 Aug 2008 | 12:43 pm Before the Bell: Consumers, Louisiana Pacific, Nortel in focusU.S. stock futures sagged on Monday as trading kicked off for a week that will feature interest rate decisions around the world -- and a possible hurricane.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 12:43 pm Qinetiq buys US spy services firmUK defence research firm Qinetiq buys Dominion Technologies, which provides technology and services to the US spy community.Source: BBC News | Business | World Edition | 4 Aug 2008 | 12:43 pm Indications: U.S. stock futures lower to start the weekU.S. stock futures sagged on Monday as trading kicked off for a week that will feature interest rate decisions around the world -- and a possible hurricane.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 12:39 pm Centrica weighs up nuclear moveCentrica is weighing up options for a tie-up with nuclear firm British Energy including a possible merger.Source: BBC News | Business | World Edition | 4 Aug 2008 | 12:37 pm June incomes rise smallest in a year, prices up (Reuters)Reuters - Consumer incomes rose at the lowest rate in over a year during June, the government reported on Monday, and inflation showed signs of accelerating.Source: Yahoo! News: Business | 4 Aug 2008 | 12:36 pm June incomes rise smallest in a year, prices upWASHINGTON (Reuters) - Consumer incomes rose at the lowest rate in over a year during June, the government reported on Monday, and inflation showed signs of accelerating.Source: Reuters: Business News | 4 Aug 2008 | 12:36 pm HSBC Profit Fell 29% in First Six MonthsThe biggest European bank reported net income of $7.7 billion in the first half of 2008 as loan impairment charges and other credit risk provisions increased 58 percent.Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 12:35 pm ICE boosted by volatile energy marketsIntercontinental Exchange, the electronic exchange group, on Monday reported the second strongest quarter in its history, benefitting from volatile energy markets as companies sought to hedge against spiralling oil prices by buying futures contracts or increasing their use of over-the-counter tradingSource: FT.com - US homepage | 4 Aug 2008 | 12:33 pm Kids' health scare at top restaurantsRead full story for latest details.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 12:31 pm Ex-Bear CEO Cayne speaks outIn the early morning hours last Sept. 11, a black Town Car pulled up to the entrance of New York-Presbyterian Hospital in Manhattan. Inside the sedan Jimmy Cayne, the CEO of Bear Stearns, was close to death.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 12:31 pm Economic Report: Real spending falls in June despite rebatesReal consumer spending fell in June for the first time since February as the windfall of cash from Washington was eaten up by the worst inflation in 27 years, the Commerce Department reports.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 12:31 pm HSBC hails 'resilient' performanceStephen Green, chairman of Europe's largest bank , said the first half of this year had been the most difficult for 'several decades' as HSBC reported a 28% fall in pre-tax profits amid continued losses from the turmoil in marketsSource: FT.com - US homepage | 4 Aug 2008 | 12:26 pm Oppenheimer's Whitney: Credit crunch not overThe credit crisis is far from over, star analyst Meredith Whitney tells Fortune magazine in its upcoming issue.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 12:25 pm Time to lock in your mortgage rateWith mortgage interest rates on the rise, home buyers can save considerable cash by locking in a reasonable rate deal when they find one.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 12:25 pm Tropical Storm Edouard gains strength in GulfTropical Storm Edouard is expected to gain steam, possibly reaching hurricane strength Tuesday, and pose a potential threat to energy infrastructure in the Gulf of Mexico.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 12:24 pm Wedding gift firm ceases tradingStruggling wedding present firm Wrapit ceases trading and goes into administration after attempts to rescue the business failed.Source: BBC News | Business | World Edition | 4 Aug 2008 | 12:11 pm Cooper Tire swings to quarterly loss on higher costsCooper Tire & Rubber Co. swings to a second-quarter loss on falling demand in North America coupled with record-high raw material and utility costs.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 12:06 pm Looming job cuts march on - reportThe nation's employers continue to put jobs on the chopping block at a steep rate as the economy struggles, according to a new report.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 12:03 pm HSBC profit slides 29% as bad debt charges top $10 billionHSBC Holdings on Monday reported a 29% drop in first-half net income as bad debt charges surged to over $10 billion, though the banking giant increased its payout after growing profits outside the United States.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 12:02 pm 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 | 4 Aug 2008 | 12:01 pm Grenade attack in China kills 16 policeSixteen Chinese policemen were killed in the western province of Xinjiang in an assault using explosives and knives that the state news agency described as a 'suspected terrorist attack'Source: FT.com - US homepage | 4 Aug 2008 | 12:00 pm Futures drop as bank jitters weighNEW YORK (Reuters) - Stock index futures slipped on Monday as a first-half profit slide from HSBC , Europe's largest bank, added to worries about the financial sector arising from the U.S. housing slump.Source: Reuters: Business News | 4 Aug 2008 | 11:58 am UBS wins injunction to stop ex-staff poaching clientsUBS today won the first stage of a legal fight to stop former employees from poaching its investment clients or the bank's staff.Source: Latest Business News from Times Online | 4 Aug 2008 | 11:50 am U.S. to agree insider trading probes revamp soon: report(Reuters) - A U.S. overhaul of insider trading investigations is due to be agreed as early as this week as regulators address growing concerns about illegal activity on global markets, the Financial Times reported Sunday, citing people involved in the talks.Source: Reuters: Business News | 4 Aug 2008 | 11:46 am HSBC feels pain of U.S. housing woesRead full story for latest details.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 11:40 am MarketWatch First Take: Credit crunch may prove blessing for HSBCThere aren’t many firms where $10 billion of write-offs can be considered only slightly out of the ordinary. HSBC is one of them.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 11:38 am Slowdown in air passenger growthThe number of people travelling on international flights grew at the slowest rate in five years in June, a report says.Source: BBC News | Business | World Edition | 4 Aug 2008 | 11:37 am Vehicle sales plunge againThe nation's top automakers reported sharp drops in July sales that were much worse than expected, as high gas prices and a weak economy continue to bite the battered auto industry.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 11:35 am Gas price drop: Day 18Retail gas prices fell for the 18th straight day, extending their multi-week slide, a daily survey of gas station credit card swipes showed Monday.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 11:35 am London Markets: Oil majors outperform in steady London, HSBC Holdings dropsGains from oil majors including BP and Royal Dutch Shell helped shore up London shares on Monday, although a 29% profit fall from banking giant HSBC Holdings didn’t help sentiment towards the beleaguered banking sector.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 11:34 am Economic Report: Planned job cuts up 33% this year, Challenger saysU.S. corporations step up the pace of layoffs this year, according to an unscientific survey released Monday by outplacement firm Challenger Gray & Christmas.Source: MarketWatch.com - Top Stories | 4 Aug 2008 | 11:31 am HSBC profits sag 28 percent to $10.2 billion on bad debtsLONDON (Reuters) - Europe's biggest bank HSBC reported a 28 percent fall in its first-half profit, in line with forecasts, as a $14 billion hit on bad debts on U.S. home loans and asset writedowns offset strong Asian growth.Source: Reuters: Business News | 4 Aug 2008 | 11:30 am Top Pre-Market Analyst Upgrades (AKAM, AIV, AMGN, CNX, KND, MCO, NEU, PH, SE)These are some of the key analyst upgrades and positive calls we have seen early this Monday morning with over 2 hours to open: Akamai Tech (AKAM) Raised to Buy at Jefferies. Amgen (AMGN) Started as Buy at Banc of America. Apartment Investment & Management (AIV) Raised to Outperform at KBW. CONSOL Energy Inc. (CNX) Raised to Outperform at Credit Suisse. Kindred Healthcare (KND) Raised to Outperform at Wachovia. Moody’s (MCO) Raised to Overweight at Lehman. NewMarket (NEU) Raised to Outperform at Oppenhemer. Parker Hannifen (PH) Raised to Buy at Goldman Sachs. Spectra Energy (SE) Raised to Outperform at Wachovia....Source: 24/7 Wall St. | 4 Aug 2008 | 11:30 am Top Pre-Market Analyst Downgrades (BIIB, CBEY, EHTH, NT, OSK, PAET, RYAAY, SVNT)These are some of the key analyst downgrades and negative analyst calls we have seen early this Monday morning with over 2 hours to open: Biogen Idec (BIIB) Cut to Sell at Banc of America. Cbeyond Communications (CBEY) Cut to Sell at Citigroup. EHealth (EHTH) Cut to Market Perform at JMP Securities. Nortel (NT) Cut to Hold at Jefferies. Oshkosh (OSK) Cut to Neutral at Credit Suisse. PAETEC (PAET) Cut to Market Perform at Wachovia; Cut to Sell at Citigroup.. Ryanair (RYAAY) Cut to Underperform at Credit Suisse. Savient Pharma (SVNT) Cut to Hold at Jefferies. Jon C. Ogg August...Source: 24/7 Wall St. | 4 Aug 2008 | 11:28 am Stocks poised to fallStock futures declined early Monday as investors awaited a wave of economic reports and the Federal Reserve's upcoming rate decision.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 11:26 am Fed to sit tight on rates as oil prices moderateWASHINGTON (Reuters) - The U.S. Federal Reserve is expected to hold interest rates steady on Tuesday, acknowledging financial conditions remain strained, but making clear it is still worried about inflation despite a recent pullback in energy prices.Source: Reuters: Business News | 4 Aug 2008 | 11:25 am Oil halts climb, but storm threatensRead full story for latest details.Source: Business and financial news - CNNMoney.com | 4 Aug 2008 | 11:20 am Imperial Energy confirms new possible 'cash offer'Independent oil and gas group Imperial Energy Corp. PLC confirmed Monday that it has received an approach regarding another "possible cash offer" for the company. Imperial Energy, whose...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:14 am Shaky start to week for Asia marketsAsia Pacific markets started the week nervously, with a key regional benchmark dropping to its lowest level for more than one and a half years as investors reacted to Wall Street's 0.5 per cent fall on...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 11:14 am Equity group bids $2.7B for Australia's AscianoShares in Australian ports and rail operator Asciano Group soared Monday after the company received an unsolicited 2.89 billion Australian dollar ($2.69 billion) takeover offer from a U.S....Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:12 am Chrysler renews credit facilities but cuts amountNEW YORK (Reuters) - Chrysler LLC's finance arm said on Sunday it had renewed its credit facilities, but had reduced the amount to $24 billion from $30 billion due to tough credit markets and changes in its retail strategy.Source: Reuters: Business News | 4 Aug 2008 | 11:12 am TNK-BP CFO resigns amid shareholder rowA senior executive has stepped down from embattled Anglo-Russian oil firm TNK-BP due to the debilitating shareholder conflict over control and strategy. Chief Financial Officer James...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:08 am AP Executive Morning BriefingHumana reports slight drop in 2Q earnings LOUISVILLE, Ky. (AP) _ Health insurer Humana Inc. reported a slight drop in second-quarter profit Monday caused by an expected double-digit...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:06 am ArcelorMittal to build Mexico mill, buy US plantArcelorMittal SA, the world's largest steelmaker, said Monday it would build a $600 million steel mill in Mexico and buy a coking coal plant in the U.S. The company said it was still...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:04 am European stocks held back by banksEuropean equities were lower on Monday, after weakness from the banking sector offset a commodity-led bounce for oil companies.At midday, the FTSE Eurofirst 300 slipped 0.5 per cent to 1,157.93, while...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 11:02 am ProLogis Leases 211,000 Square Feet to Centrum Logistics in RomaniaBUCHAREST, Romania, Aug. 4 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:00 am Crawford Reports Substantial Improvement in 2008 Second Quarter ResultsNet Income Rises 31% on Revenue Growth of 9% ATLANTA, Aug. 4 /PRNewswire-FirstCall/ -- Crawford & Company (Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:00 am FTI Consulting Names Declan Kelly Executive Vice President and Chief Integration OfficerBALTIMORE, Aug. 4 /PRNewswire-FirstCall/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:00 am Concord Debt Holdings LLC Receives $100 Million Capital CommitmentBOSTON, Aug. 4 /PRNewswire/ -- Concord Debt Holdings LLC ("Concord"), a joint venture debt platform between Winthrop Realty Trust (NYSE: FUR) and Lexington...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:00 am [video] NetSymphony COO, Dan Ference Discusses New Product Release on WallSt.net's 3-Minute Press ShowNEW YORK, Aug. 4 /PRNewswire-FirstCall/ -- NetSymphony, a subsidiary of Datameg Corp. (OTC Bulletin Board: DTMG), today announced that the company's Chief Operating...Source: Infocious RSS raw feed - channel BNewsBusiness | 4 Aug 2008 | 11:00 am Fortis profit halves in turbulent second quarterAMSTERDAM (Reuters) - Fortis , the Belgian-Dutch financial group, said writedowns helped cause a halving in second-quarter net profit, and said shoring up a weakened balance sheet was its "top priority".Source: Reuters: Business News | 4 Aug 2008 | 10:56 am FTSE steady after HSBC resultsLondon equities held steady on Monday, after interim numbers from banking group HSBC beat forecasts, but its shares fell on lingering concern about the impact of the credit crunch. The FTSE 100 was flat...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 10:46 am TNK-BP finance chief quits amid disputeThe chief financial officer at TNK-BP tendered his resignation on Monday, blaming the escalating battle for control at the Russian joint oil venture as a threat to his independence.James Owen, 61, had...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 10:43 am Construction woes hit sterlingSterling lost ground on Monday as a report showed further contraction in the UK construction sector and fears heightened over the health of the country's financial sector. Data showed the UK construction...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 10:43 am TNK-BP finance chief quits amid disputeThe chief financial officer at TNK-BP tendered his resignation, saying the escalating battle for control at BP's Russian joint oil venture threatened his independenceSource: FT.com - US homepage | 4 Aug 2008 | 10:43 am Intel (INTC) Goes For The Kill With AMD (AMD) And Nvidia (NVDA)Intel (INTC) is about to hit the market with a new set of graphics chips and they are aimed directly at the hearts of Nvidia (NVDA) and AMD (AMD) which both count of the expensive products for large portions of their sales.Source: 24/7 Wall St. | 4 Aug 2008 | 10:40 am HSBC (HBC) Earnings: Storm Flags Go Up For US BanksHSBC (HBC) is the latest money center bank to be clobbered by more write-downs. For the most recently reported quarter net profit fell to $7.72 billion from $10.9 billion a year earlier and that was in line with market expectations. Loan impairment charges and other provisions jumped 58% to $10 billion. The bank's chairman commented, "Ultimately, the real economy will recover from this crisis, although it may get worse before it gets better."Source: 24/7 Wall St. | 4 Aug 2008 | 10:29 am Palm oil prices to stay at record high in 2008The price of palm oil, the basis of many foodstuffs such as margarine, will remain at record levels in 2008, according to Australasian producer New Britain.Source: Latest Business News from Times Online | 4 Aug 2008 | 10:28 am HSBC hails 'resilient' performanceHSBC on Monday hailed a "resilient" performance as the banking group reported first-half profits of more than $10bn, despite suffering continued losses as a result of the US mortgage meltdown and turmoil...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 10:22 am Murdoch says U.S. TV advertising good; eyes AsiaMUMBAI (Reuters) - News Corp chief Rupert Murdoch said television advertising in the United States was good, despite a slowing economy, while Asia was a long-term bet driven by the emergence of a wealthy middle class.Source: Reuters: Business News | 4 Aug 2008 | 10:21 am Warning as HSBC profits fall 28%HSBC warns that conditions in financial markets are at their toughest "for decades" after seeing half-year profits fall 28%.Source: BBC News | Business | World Edition | 4 Aug 2008 | 10:14 am How Slow Will Video Game Sales Get? (SNE)(MSFT)Nintendo owns so much of the video game console market that it may be coming up against market share problems. But, the entire industry could be facing the issue of whether it has picked the low-hanging sales fruit and is faced with a prolonged slowdown in revenue growth.Source: 24/7 Wall St. | 4 Aug 2008 | 10:10 am Deutsche calls the top of the commodity cycleDeutsche Bank has called the top of the commodity cycle. The uber-bulls of the oil, food and metals boom have advised clients to take profits before the downturn engulfing most of the global economy works...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 10:00 am Deutsche calls the top of the commodity cycleDeutsche Bank has called the top of the commodity cycle. The uber-bulls of the oil, food and metals boom have advised clients to take profits before the downturn engulfing most of the global economy works its inevitable effects.Source: Telegraph Business | 4 Aug 2008 | 10:00 am GM (GM) And Ford (F) Can See The Future In Chrysler Financing TroublesChrysler had a fair amount of trouble re-financing a relatively large portion of its debt. The company's finance division was only able to raise $24 billion to replace a $30 billion facility. The money did not come cheap, According to The Wall Street Journal, "The $24 billion it raised came in at 1.1 to 2.25 percentage points above Libor, making it harder for Chrysler to offer cars to consumers at attractive terms." Ford (F) and GM (GM) can step into H.G. Wells time machine and travel forward a year. They are likely to find that raising money will be be...Source: 24/7 Wall St. | 4 Aug 2008 | 9:50 am TNK-BP feud deepens as finance director quitsThe crisis at TNK-BP, the Russian oil company, deepened today when its chief financial officer quit following a feud between shareholders.Source: Latest Business News from Times Online | 4 Aug 2008 | 9:37 am What The 2009 Recession Looks Like TodayOrchard Lake, Michigan, August 3rd, 2008. A modest-sized office building with room for twenty tenants just north of this town of well-to-do homeowners does not have a single tenant. It is not unusual for homes here to sit on the market for two years. Large supermarkets have simply closed, a sign here that even Kroger did not have enough customers to cover the overhead. Some of the strip malls do not have a single tenant.Source: 24/7 Wall St. | 4 Aug 2008 | 9:32 am HSBC's profits drop as economies slowsHSBC, Europe's biggest bank, has seen first-half profits tumble 28pc as business slowed in the US and the UK.Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 9:30 am UK writedowns hit Australia's Lend LeaseLend Lease, the Australian property group developing the London Olympic village, said full-year after-tax profits were likely to nearly halve after a big write-down in the carrying value of its UK property...Source: Infocious RSS raw feed - channel BNPaperBusiness | 4 Aug 2008 | 9:30 am HSBC's profits drop as economies slowsHSBC, Europe's biggest bank, has seen first-half profits tumble 28pc as business slowed in the US and the UK.Source: Telegraph Business | 4 Aug 2008 | 9:30 am Ethics Watch: Bear Stearns Fails To Disclose CEO's Severe IllnessIn an interview with Fortune that will be published shortly, James Cayne told a reporter that he was in the hospital for 10 days back in September, suffering from sepsis triggered by a severe prostate infection. This was in the fairly early stages of market worries that the company had overexposed itself to bad mortgages, concerns that proved to be right on when the company was forced into a $2-per share Fed-orchestrated fire sale that was later revised to $10 in an act of mercy.Source: 24/7 Wall St. | 4 Aug 2008 | 9:29 am Carl Icahn: Lost In A World He Predicted (MOT)(YHOO)(BIIB)(BBI)Carl Icahn has evolved over the years, first rising to fame a "corporate raider", followed by an ill-fated journey into actual management at the helm of TWA and, most recently, as a kinder, gentler version of his old self: Icahn the "shareholder activist." A piece in The Wall Street Journal looks at Icahn's "week of mixed results." If Bristol-Myers Squibb's offer to acquire ImClone succeeds, Icahn will earn an 80% return on his original investment in the company. He'll walk away with a pretax profit of more than $300 million, but that will be more than offset by the beating...Source: 24/7 Wall St. | 4 Aug 2008 | 9:24 am Murdoch plans expansion in IndiaRupert Murdoch's News Corp plans to invest $100m to develop six TV channels in India and add staff to its news operations.Source: BBC News | Business | World Edition | 4 Aug 2008 | 9:22 am Bluewater plunges in value as credit crisis bitesThe value of Bluewater, one of Britain's biggest shopping centres, has plunged by hundreds of millions of pounds in the past year, according to figures from one of its owners.Source: Telegraph Business | 4 Aug 2008 | 9:22 am UK construction nears 'recession' on new lowActivity in the construction sector slumped to a record low during July as conditions in the housing market continued to deteriorate, raising fears that Britain is edging closer to a recession.Source: Latest Business News from Times Online | 4 Aug 2008 | 8:59 am HSBC profit falls 28% as bad debt rises $10bn$HSBC today abandoned offering car loans to poor and credit-impaired Americans as it revealed the credit crisis wiped a further $10.1 billion ($£5.1 billion) from its profits.Source: Latest Business News from Times Online | 4 Aug 2008 | 8:44 am MPs sceptical over car tax riseGovernment plans to increase car tax for "gas-guzzling" vehicles should be bolder to increase the environmental impact, MPs say.Source: BBC News | Business | World Edition | 4 Aug 2008 | 8:25 am Citigroup to shut rest of Tribeca fund: report(Reuters) - Citigroup Inc , the largest U.S. bank by assets, plans to close a $400 million convertible arbitrage fund in a final move to shut down its Tribeca Global Investments hedge fund, Bloomberg News reported on Monday, citing people familiar with the plans.Source: Reuters: Business News | 4 Aug 2008 | 8:20 am 'Difficult' times for Fortis bankBelgian-Dutch bank Fortis acknowledges it is facing "difficult" times after it reports a 40% fall in half-yearly profits.Source: BBC News | Business | World Edition | 4 Aug 2008 | 7:45 am Rio loses $10 billion iron-ore project$Rio Tinto, the world's second largest miner, has lost control of one of its most important iron-ore projects that could generate revenues of more than $10 billion ($£5 billion) a year.Source: Latest Business News from Times Online | 4 Aug 2008 | 7:21 am Qinetiq, 888: Business round-up Aug 4Shell, Anglo American and Mitchells & Butlers: Roundup for July 31Source: Telegraph Business | 4 Aug 2008 | 7:15 am Batman is tops again, beating 'Mummy''The Dark Knight' hauls in $43.8 million for its third straight weekend win. It's sure to hit $400 million in record time.Even an army of the undead could not dislodge Batman from his box-office perch. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am Disney gives Tinker Bell a starring roleThe pixie is cast as the lead character in the building of a Fairies franchise. Her 'Tinker Bell' film on DVD is due out this fall.Tinker Bell, after many decades with no lines, is finally getting a starring role. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am A cynical look at Harvard's 'caldron of capitalism'When Kim Clarke, then dean of Harvard Business School, greeted 900 new students to the school in 2004, he warned them not to become cynical. The advice seems to have fallen on deaf ears with Philip Delves Broughton, journalist-turned-MBA.Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am Loan program helps local growers to growWhole Foods shows its support for small-scale agriculture by offering financial help to firms that meet its quality standards.Freshly picked heirloom tomatoes sliced into a mozzarella Caprese salad are a favorite of farmer Mark Anderson, manager of Lark Farms in Fillmore, Calif. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am Limo firm maneuvers to avert a drop-offEntrepreneur looks for efficiencies while gas is high. But he's still investing in new vehicles.At heart, Chris Hundley is a race car fan. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am Century City Doctors Hospital seeks buyerThe debt-burdened, 176-bed facility could face bankruptcy if it isn't sold soon, sources say.Century City Doctors Hospital, a small but key healthcare provider on Los Angeles' Westside, is coping with deteriorating finances and weighing options that include a sale of the struggling hospital. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am FirstFed saw loan risk early onThe bank started tightening lending standards in 2005. But it has seen a leap in delinquencies.California home prices reached astonishing levels in 2005, but getting a loan was a snap at lenders offering low initial payments. At FirstFed Financial Corp., for example, the vast majority of borrowers weren't required to produce pay stubs or tax returns to prove they earned as much as they claimed. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am He's still waiting on Time WarnerScott Benson will have to sit tight until Nov. 12 for 12 HD channels the company said would be in his area by July 1.Remember Scott Benson? We featured him in a front-page story in May after he complained about how few high-definition channels he and other Time Warner Cable subscribers in Southern California received. Turned out that the company's Los Angeles-area customers lagged far behind Philadelphia, San Diego, Houston, New York and other big cities when it came to crystal-clear programming. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am Unknown writers get chance to pitchHopefuls market sometimes-imaginative ideas to TV producers and talent agencies at House of Blues.For more than 300 aspiring writers and producers, this -- a clanging cowbell, worn wooden tables and youthful TV programming executives at the House of Blues in West Hollywood -- was their chance to squeeze through the closed doors of Hollywood. Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am Strategic audit may identify reasons for stagnant salesDear Karen: My relatives own a business that has been operational for years but hasn't grown. They're seeking capital. What documents do they need for a small-business loan?Source: L.A. Times - Business | 4 Aug 2008 | 7:00 am UK manufacturers fearing slowdownUK manufacturers face rising costs and expect output to fall in the coming months, research from the CBI suggests.Source: BBC News | Business | World Edition | 4 Aug 2008 | 6:31 am UK business newspaper roundup: August 4UK Newspaper round-up: Monday August 4Source: Telegraph Business | 4 Aug 2008 | 6:30 am Currency: Dollar hits 10 month low against USThe New Zealand dollar posted modest gains today after hitting new 10-month lows during the weekend against the US dollar. It is continuing to make ground against the Australian dollar. By 5pm today the kiwi was buying US72.86c,...Source: New Zealand Herald - Business | 4 Aug 2008 | 5:42 am Bear Stearns' Cayne was near death in September: reportNEW YORK (Reuters) - Former Bear Stearns Chief Executive James Cayne came close to dying last September from sepsis triggered by a severe prostate infection, Fortune Magazine reports on Monday on its website.Source: Reuters: Business News | 4 Aug 2008 | 4:23 am Bear Stearns' Cayne was near death in September: report (Reuters)
Source: Yahoo! News: Business | 4 Aug 2008 | 4:14 am AXA freezes $117 million mortgage fundA local subsidiary of global financial giant AXA, Mortgage Backed Bonds, has suspended trading in wholesale holdings in its fund, as the run on mortgage backed investments continues apace. This AXA freeze only affects its big...Source: New Zealand Herald - Business | 4 Aug 2008 | 3:36 am Fewer jobs advertised in AustraliaThe number of job advertisements in Australia has fallen for the third successive month in yet another sign the economy is slowing, a survey shows. Newspaper and internet job ads fell by a seasonally adjusted 0.3 per cent in July...Source: New Zealand Herald - Business | 4 Aug 2008 | 2:30 am New car registrations fallNew car registrations totalled 5429 in July, down 19.6 per cent from the previous month and 14.9 per cent lower from a year ago, Land Transport New Zealand said today. Used car registrations - generally imported used cars - totalled...Source: New Zealand Herald - Business | 4 Aug 2008 | 1:45 am Chrysler renews credit facilities but cuts amount (Reuters)
Source: Yahoo! News: Business | 4 Aug 2008 | 1:24 am Salaries 'jump at record levels' but interest rate cuts still comingNew figures show pay rates rising at a record pace, but economists do not see them bringing any delay to further interest rate cuts by the Reserve Bank. The Labour Cost Index (LCI) released by Statistics New Zealand (SNZ) today...Source: New Zealand Herald - Business | 4 Aug 2008 | 1:00 am Northern Rock customers face negative equityNorthern Rock, the state-owned bank, will reveal this week that roughly one in five of its mortgage customers faces negative equity next year as it unveils a substantial loss for the six months to JuneSource: Telegraph Business | 4 Aug 2008 | 12:01 am Send out the clowns and make the Aim market less of a circusThe London Stock Exchange has been struggling to shake off the suggestion by a leading US regulator that Aim is "like a casino" ever since those fateful words were uttered.Source: Telegraph Business | 4 Aug 2008 | 12:01 am Shell courts Russia with asset swap planShell is considering a £1bn asset swap with a joint venture partner in Russia to ensure that it remains in the Kremlin's good books.Source: Telegraph Business | 4 Aug 2008 | 12:01 am Royal Bank of Scotland to post record lossRoyal Bank of Scotland will this week post the biggest loss in British banking history when it reveals that the £5.9bn of writedowns taken against its "toxic" credit market assets have pushed it about £1.3bn into the red for the six months to June, compared with £5bn profit last year.Source: Telegraph Business | 4 Aug 2008 | 12:01 am China and India in Imperial Energy raceA bid battle has broken out between Indian and Chinese companies over London-listed energy group Imperial Energy.Source: Telegraph Business | 4 Aug 2008 | 12:01 am Half of Powerco up for saleHalf of Powerco, New Zealand's second biggest energy network company, is being put up for sale by its Australian owner Babcock and Brown. Headquartered in New Plymouth, its network area spreads across the upper central and lower...Source: New Zealand Herald - Business | 4 Aug 2008 | 12:00 am Mittal's Chinese stake plan thwartedArcelorMittal has been forced to put its plans for taking a majority stake in a Chinese steelmaker on hold, frustrating the ambitions of the world's biggest steelmaker in the largest steel marketSource: FT.com - US homepage | 3 Aug 2008 | 11:21 pm Audi A3 Cabriolet 1.8 TFSI SportWith the new A3 Cabriolet, Audi's understated and rather covetable hatchback gets a soft top for the first time. More than that, it gets a record-breakingly fast one. Push the button located conveniently to the rear of the handbrake, and merely nine seconds later the canvas cover over your head will have sprinted to the back of the car and folded itself tidily against the boot. Clearly we are talking here about the Linford Christie of opening car tops, except without the somewhat distracting controversy.Source: Latest Business News from Times Online | 3 Aug 2008 | 11:00 pm India struggles to regain control as elephant economy does about-turnThe rise of India's economy is often compared to the progress of an elephant - slow and plodding when compared with the dragon of China, but invested with a heavy sense of inevitability. In the past six months, however, the elephant has performed a disconcerting about-turn.Source: Latest Business News from Times Online | 3 Aug 2008 | 11:00 pm Manufacturers' gloom stretches across UKConfidence among manufacturers has fallen in every region of the UK as companies struggle with the soaring cost of raw materials, a CBI survey shows.Source: Latest Business News from Times Online | 3 Aug 2008 | 11:00 pm Government steps up pressure on EDF to raise bid for British EnergyThe Government is expected to put intense pressure on EDF, the French state-backed energy group, to table an improved offer to buy British Energy after its £12 billion bid for the nuclear-power company was snubbed by shareholders at the last minute.Source: Latest Business News from Times Online | 3 Aug 2008 | 11:00 pm Property drought worsens during the wet monthsThere aren't enough homes on the market to satisfy cashed up buyers, says one of the big Auckland real estate firms. A "drought of properties" had been caused by cautious vendors adopting a "wait and see" attitude through the...Source: New Zealand Herald - Business | 3 Aug 2008 | 11:00 pm Briscoes sales down, but July better than expectedRetailer Briscoe Group is reporting second quarter sales down 2.28 per cent to $91.7 million, although July sales were higher than anticipated. Group managing director Rod Duke said the strong finish to the second quarter was expected...Source: New Zealand Herald - Business | 3 Aug 2008 | 11:00 pm NZ stocks: Sharemarket starts week flatThe New Zealand sharemarket started the week on a flat note, following falls in United States equities as oil prices rose at the end of last week. US stocks fell on Friday (local time) as a US$15.5 billion ($21.6 billion) quarterly...Source: New Zealand Herald - Business | 3 Aug 2008 | 10:45 pm Fourth person charged in Five Star caseA fourth person linked to failed finance company Five Star Finance Ltd is facing criminal charges. Neil Williams was charged by the Companies Office in his capacity as a principal officer with Five Star, which was placed in receivership...Source: New Zealand Herald - Business | 3 Aug 2008 | 10:00 pm Overhaul of insider trading investigationsA new system to overhaul insider trading investigations is due to be agreed as early as this week in the latest response from US regulators to growing concerns about the extent of illegal activity on global marketsSource: FT.com - US homepage | 3 Aug 2008 | 9:40 pm Kuwait to lift Japan exposureKuwait is planning to 'double or triple' its investment in Japan, in a move that could take its total commitment to $50bn, according to Mustapha al-Shamali, the Gulf state's finance ministerSource: FT.com - US homepage | 3 Aug 2008 | 6:50 pm S Africa utility faces double challengeSouth Africa's dire electricity shortage may be rooted in disparate factors from weather to political upheaval, but the country's economic health depends on a solutionSource: FT.com - US homepage | 3 Aug 2008 | 6:38 pm Watchful central banks to hold ratesThe Federal Reserve, European Central Bank and the Bank of England are likely to keep interest rates on hold this week, amid deteriorating global growth and high inflationSource: FT.com - US homepage | 3 Aug 2008 | 6:13 pm Japan close to declaring recessionJapan's government may be forced to declare that the country has entered a technical recession, although any downturn is likely to be shallower than previous contractionsSource: FT.com - US homepage | 3 Aug 2008 | 4:47 pm Fed to sit tight on rates as oil prices moderate (Reuters)
Source: Yahoo! News: Business | 3 Aug 2008 | 3:17 pm
|
