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Medvedev outlines troop withdrawal timetableThe Russian president said his forces would begin their withdrawal on Monday from the conflict zone in Georgia's breakaway republic of South OssetiaSource: FT.com - US homepage | 17 Aug 2008 | 1:36 pm Morgan Stanley sees more finance crisis pain: paperFRANKFURT (Reuters) - The financial crisis will probably not end until next year or even 2010, Germany's Handelsblatt newspaper quoted Morgan Stanley co-President Walid Chammah as saying in a preview of its Monday edition.Source: Reuters: Business News | 17 Aug 2008 | 1:23 pm NewsWatch: U.S. stocks likely to be under the influence of oilU.S. stock-market action next week is likely to take cues from the currency and commodities markets.Source: MarketWatch.com - Top Stories | 17 Aug 2008 | 1:00 pm SportsWatch: Olympic swimmer Michael Phelps wins record eighth gold medalU.S. Olympic swimmer Michael Phelps makes history by winning an eighth gold medal, breaking a record set more than three decades earlier by Mark Spitz.Source: MarketWatch.com - Top Stories | 17 Aug 2008 | 12:50 pm Qwest, union talk past contract's endRead full story for latest details.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 12:45 pm Oil again likely to dominate Wall Street weekSource: Business and financial news - CNNMoney.com | 17 Aug 2008 | 12:31 pm Mush, puppy!When I started designing mountain scooters, I didn't have dogs in mind. I grew up in Marin County, Calif., watching guys from the area develop the mountain bike. It didn't take long for me to decide that I wanted to do something similar.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 12:26 pm Woolworths rejects Iceland bidTroubled retailer Woolworths says it has rejected a bid for its network of 815 stores, calling it "unacceptable".Source: BBC News | Business | World Edition | 17 Aug 2008 | 12:20 pm Saudi Arabia's new gold mineA new generation of fortune hunters is seeking riches under the sands of Saudi Arabia.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 12:11 pm What every investor should knowI'm retiring and will soon be headed to Oxford University to begin my second act. So this will be my last column for Money. At a time like this, it's only natural to look back at one's career. So I've been reviewing my articles of the past 23 years to see where I've been right and where I've been wrong - and why.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 12:09 pm Gas prices down another pennyGasoline prices fell Sunday for the 31st straight day, bringing down the nationwide average in a motorist group survey by more than 36 cents overall.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 12:04 pm 'Pray at the pump' pilgrims claim credit for petrol price fallA prayer group in Washington DC is claiming the credit for a sharp drop in the US price of petrol.Source: BBC News | Business | World Edition | 17 Aug 2008 | 11:42 am How to lure Gen Y workers? Do goodWhen it comes to recruiting the Millennial Generation, it isn't only about salary ... it's about community service.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 11:36 am The next wave of mortgage defaultsPrime mortgages are starting to default at disturbingly high rates - a development that threatens to slow any potential housing recovery.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 11:34 am As Russia Arms It Baltic Fleet, Oil Faces Pressure
At the beginning of the conflict, there was a concern that the movement of oil through Russia might be impeded. But, now Russia is planning to put nuclear war heads on some of the weapons of its Baltic Fleet, upping its bet that it can menace the region and control its political fate. For the economy and oil prices, the effect may be immediate. According to TheTimes, "The warnings came 24 hours after Russia told Poland that it could face a nuclear strike for agreeing to let the United States station components of the missile defense shield on its soil." The Baltic Fleet is relatively near norther Germany, Scandinavia, and not far from the North Sea. If oil does not move up on the news, crude traders lack the sense God gave them. Russia is pushing most of its chips into the center of the table. Oil is an important part of the pot. On its own, Russia has a huge amount of crude reserves of its own. It could begin to bargain with the West using that as well. Douglas A. McIntyre Source: 24/7 Wall St. | 17 Aug 2008 | 11:05 am Small town Iowa struggles after immigration raidA vague unease whispered through this tiny town in northeastern Iowa, where the rolling hills are a study in vivid colors _ red barns, white clapboard houses, and vibrant green cornfields...Source: Infocious RSS raw feed - channel BNewsBusiness | 17 Aug 2008 | 9:34 am Phelps wins record-breaking eighth goldSunday offers 37 golds, the most of any day in the OlympicsSource: FT.com - US homepage | 17 Aug 2008 | 7:20 am Upscale apartment developers pile on amenities to lure residentsExtras such as pet-sitting, in-home massage and room service can make a building stand out in a tough market.Zack Mishkin went all out to impress his girlfriend on the one-year anniversary of the beginning of their romance. Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am Foreclosures up, defaults downForeclosureRadar.com estimates that California homes are foreclosing at a rate of 1,300 per business day. And the drop in defaults is not very promising.Banks and lenders have now foreclosed on $100 billion worth of California homes over the last two years and are foreclosing at the rate of 1,300 houses every business day, according to a new report from ForeclosureRadar.com. Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am Checking ID for credit card use may be breaking merchant agreementDear Liz: I recently read that merchants aren't allowed to ask for customers' identification when processing credit card transactions. But this has become incredibly common. In fact, I can't remember...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Getting the 411 on phone chargesThe lifting of price controls for phone services has been extremely lucrative for companies like AT & T and Verizon. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Readers take shots at portable boozeAlcohol manufacturers have arrogantly embraced a severe lapse of social ethics with their new "shots in a pack" alcoholic drinks. (" Critics take shots at alcohol pouches ," Aug. 12).Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am Consumer BriefsEven with high gasoline prices, U.S. consumers still want high-quality vehicles that haul a lot of people and perform well, and that is forcing automakers to make radical changes in the way they manufacture...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Checking ID for credit card use may be breaking merchant agreementDear Liz: I recently read that merchants aren't allowed to ask for customers' identification when processing credit card transactions. But this has become incredibly common. In fact, I can't remember the last time that I wasn't asked for ID when using a credit card. Is it really illegal?Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am Updated vision for a Hollywood Hills trilevelThe distressed post-and-beam is restored to pristine condition, with contemporary green touches. Mr. Magoo, the...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Your Money: Broadband InternetMaking the best connection When it comes to choosing broadband Internet providers, you can't always get what you...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am U.S. subprime collapse reaches Welsh townHousing prices are falling, and first-time buyers can't get credit. Sound familiar? During a bustling lunch hour...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Consumer BriefsEven with high gasoline prices, U.S. consumers still want high-quality vehicles that haul a lot of people and perform well, and that is forcing automakers to make radical changes in the way they manufacture vehicles, panelists at an industry conference said Monday.Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am U.S. subprime collapse reaches Welsh townHousing prices are falling, and first-time buyers can't get credit. Sound familiar?During a bustling lunch hour in this Welsh commuter town, 25-year-old Richard Williams is one of the few who pause to look at properties for sale in a real estate agent's window -- and he isn't buying. Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am Readers take shots at portable boozeAlcohol manufacturers have arrogantly embraced a severe lapse of social ethics with their new "shots in a pack" alcoholic drinks. (" Critics take shots at alcohol pouches ," Aug. 12).Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Getting the 411 on phone chargesThe lifting of price controls for phone services has been extremely lucrative for companies like AT & T and Verizon.On Sept. 1, AT&T Inc. will cut the number of free 411 calls offered to customers each month to one from three. At first glance, that seems like a fairly small thing. Source: L.A. Times - Business | 17 Aug 2008 | 7:00 am Foreclosures up, defaults downForeclosureRadar.com estimates that California homes are foreclosing at a rate of 1,300 per business day. And the drop in defaults is not very promising. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Upscale apartment developers pile on amenities to lure residentsExtras such as pet-sitting, in-home massage and room service can make a building stand out in a tough market. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 7:00 am Qwest, union keep talking as contract expiresQwest Communications International Inc. and members of its largest union kept negotiating Sunday as a labor contract expired. Workers represented by the Communications Workers of AmericaSource: Infocious RSS raw feed - channel BNewsBusiness | 17 Aug 2008 | 6:56 am Wal-Mart enters the ad ageIf you've been watching TV lately, you may have come across Wal-Mart's new back-to-school ad. It features a well-scrubbed teenager wearing the California surf brand Op, as her Everymom exults that the giant retailer satisfied her daughter's fashion cravings without breaking the family bank. On the surface the spot doesn't look radically different from the company's advertising in years past. But its creation, part of Wal-Mart's "Save money. Live better" campaign, is a result of dramatic changes taking place behind the scenes.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 4:03 am Economic Preview: Housing starts expected to head lower againThe economic news in the coming week will probably confirm just what you'd expect: higher prices, weaker home building and a Federal Reserve that's stuck in a tricky position.Source: MarketWatch.com - Top Stories | 17 Aug 2008 | 4:01 am Ex-DirecTV chief to publish L.A. TimesRead full story for latest details.Source: Business and financial news - CNNMoney.com | 17 Aug 2008 | 1:18 am Persimmon short-sellers stake £325m on falling share priceShort-sellers have staked more than £325m on Persimmon's stock falling ahead of the housebuilder's half-year results this week.Source: Telegraph Business | 17 Aug 2008 | 12:01 am The pound's fall suggests markets doubt MPC's wisdomSilly season it may be, but August often brings with it decisive shifts in the financial and economic spheres. Twelve months ago we had the about-turn in the world's credit markets. I suspect that we will look back on last week as decisive too.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Credit crisis does not stop a rich seam of deals from being minedYou would expect M&A to dry up in a downturn but, as Ben Harrington explains, the City is seeing some oft-rumoured deals become reality.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Commission to break up BAA monopolyBAA has admitted that the Competition Commission is likely this week to demand the sale of at least two airports as the regulator raises questions over Government airport policy.Source: Infocious RSS raw feed - channel BNPaperBusiness | 17 Aug 2008 | 12:01 am BAA is taxiing inexorably towards break-upIt has enjoyed a virtual monopoly for 20 years, but the regulators are poised to inject competition into the airports sector, writes Alistair Osborne.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Equitable tells members 'call MPs'Equitable Life is writing to 465,000 policyholders, urging them to lobby MPs to force the Government to pay compensation following the near collapse of the UK's oldest mutual insurer.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Attorney general Andrew Cuomo set to sue Merrill LynchUS regulators are preparing to sue investment bank Merrill Lynch for mis-selling toxic debt instruments.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Iceland boss in surprise bid for WoolworthsMalcolm Walker, the founder of the Iceland frozen food chain, has made an audacious bid approach for Woolworths, the struggling pick 'n' mix retailer, in a move that would see him return to the company that fired him 37 years ago.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Candover targets Eastern EuropeCandover, the British private equity house, is taking its first steps into Eastern Europe as it seeks to expand its geographic footprint.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Can StatPro separate the Wheatley from the chaff?StatPro sells software, data and services to the asset management industry. It has 220 clients, ranging from fund managers, custodian banks, and pension funds to one stock exchange, all of which are scrutinising their costs to decide what must be kept and what can be waved goodbye to.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Credit Suisse targets same sex in the CityCredit Suisse has become the first major bank to target the pink pound with a bespoke private banking service provided by gay advisers.Source: Telegraph Business | 17 Aug 2008 | 12:01 am Sean D'Souza: Word of mouth still works wonders - but now it's gone virtualImagine you had a party that got reported around the world. A party that never took place at all. Here's what the fictional party looked like: "A birthday party invitation posted on the popular social websites Facebook and Bebo...Source: New Zealand Herald - Business | 17 Aug 2008 | 12:00 am Bradford & Bingley picks Richard Pym as new chief executiveBRADFORD & Bingley is poised to appoint Richard Pym, the former boss of Alliance & Leicester, as its new chief executive.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:38 pm Sainsbury paints itself green with wooden store in DevonTHE grocery chain J Sainsbury will tomorrow open its flagship green store in Dartmouth, Devon, which is expected to become the model for all its new supermarkets.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm International bidders line up for BAA airport saleInternational infrastructure groups have approached BAA with offers to buy Gatwick, London’s second airport, for up to £3 billion.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm RBS set to scrap Direct Line and Churchill auctionTHE Royal Bank of Scotland is on the cusp of abandoning the auction of its Direct Line and Churchill insurance empire after raising close to £6 billion through the sale of risky loans.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm BA's Willie Walsh vows the airline will not surrender Heathrow slotsBRITISH AIRWAYS boss Willie Walsh has vowed the airline will not surrender runway slots at Heathrow in order to land its proposed alliance with American Airlines.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm Kieran Prior: Goldman Sach’s whiz-kid wheeler dealerWORKING on the noisy, frenetic trading desk at Goldman Sachs’s London offices on Fleet Street earlier this decade, Kieran Prior and John Yeatts, two bright and ambitious twentysomethings from very different worlds, became close friends.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm Christofferson Robb hedge fund to sell Thanet windfarm in KentTHE Christofferson Robb hedge fund is in talks to sell one of Britain’s largest proposed offshore wind farms less than a year after it bought the project.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm UK energy giant does itself a power of good in AmericaTHE lobby of the Metrotech office block in downtown Brooklyn is dominated by a giant Star-Spangled Banner. At Christmas, children sing carols in the vaulted space as residents of Long Island, Brooklyn and Queens queue next door to pay their heating bills. Until a year ago the building was home to Key Span, the local utility formed by the merger of Brooklyn Union Gas Company and Long Island Lighting Company. It doesn’t get much more American than this - if you don’t count the boss.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm UK warned of imminent recession by British Chambers of CommerceTHE British Chambers of Commerce (BCC) will this week become the first leading business group to predict a recession in Britain.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm National Association of Estate Agents to create free advertising websiteTHE trade body that represents hard-pressed estate agents is to create its own free advertising website, a move that threatens to torpedo the business plans of its quoted rival Rightmove.Source: Latest Business News from Times Online | 16 Aug 2008 | 11:00 pm NewsWatch: U.S. stocks likely to be under the influence of oilU.S. stock-market action next week is likely to take cues from the currency and commodities markets.Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 9:00 pm OPEC Wants To Raise Prices
"The market is oversupplied by at least 1 million barrels a day. If OPEC would like to remove this additional oil out of the market, then OPEC has to cut some production," OPEC governor Mohammad Ali Khatibi told Dow Jones That would mean that, at the most basic level, oil prices might never drop much from current levels. There has been some hope, with little foundation in evidence, that oil will drop back below $100 a barrel. The basis of the argument for that is that, as the world economy slows, so will the need for crude. It ignores the likelihood China and other emerging markets will continue import more crude. It also assumes that the rising amount of oil that large exporters use to build their own infrastructures and fuel their own cars will level-off. OPEC has had the benefit of seeing the tremendous yield it gets when crude is at $120. There is no need for the cartel to give that up. It can act as a puppeteer and move the strings of supply, And, so it will. Douglas A McIntyre Source: 24/7 Wall St. | 16 Aug 2008 | 7:49 pm OPEC official says falling oil price could trigger output cutsAn Iranian official in the Organization of Petroleum Exporting Countries said Saturday that the producers group is considering leaving oil production levels unchanged or perhaps even trimming them to shore up flagging prices and defend market share.Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 7:09 pm Tribune hires former DirecTV CEO to run LA Times (Reuters)Reuters - Tribune Co has appointed the former chief executive of satellite television provider DirecTV as publisher of the Los Angeles Times, the paper said in its Saturday edition.Source: Yahoo! News: Business | 16 Aug 2008 | 6:22 pm Tribune hires former DirecTV CEO to run LA TimesSAN FRANCISCO (Reuters) - Tribune Co has appointed the former chief executive of satellite television provider DirecTV as publisher of the Los Angeles Times, the paper said in its Saturday edition.Source: Reuters: Business News | 16 Aug 2008 | 6:22 pm Tribune hires former DirecTV CEO to run LA TimesSAN FRANCISCO (Reuters) - Tribune Co has appointed the former chief executive of satellite television provider DirecTV as publisher of the Los Angeles Times, the paper said in its Saturday...Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Aug 2008 | 6:22 pm Tropical Storm Fay barrels toward Cuba, FloridaTropical Storm Fay, after unleashing heavy rains on Haiti, was creeping Saturday along a westward track toward Jamaica and southeast Cuba, prompting Cuban officials to issue a hurricane watch along the coast, the National Hurricane Center said.Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 5:47 pm Valuers feel heat as prices fallThe role of valuers is coming under scrutiny against the dramatic decreases in property valuations, with discrepancies between valuation and sales prices on some Auckland apartments being as high as $400,000. This is leading to...Source: New Zealand Herald - Business | 16 Aug 2008 | 5:00 pm Fran O'Sullivan : Fixing Telecom's fortunesI'm not sure if Telecom chairman Wayne Boyd is capable of the subterfuge that might have orchestrated a call (even via a conduit) suggesting that New York "vulture fund" boss Paul Singer get his guys at Elliott International to challenge...Source: New Zealand Herald - Business | 16 Aug 2008 | 5:00 pm Rating system under fireFinancial advisers are speaking out about Chris Lee, an adviser from the Kapiti Coast who is regularly quoted in sections of the media. Financial planner Liz Koh, of Moneymax in Paraparaumu, says Lee has been advising elderly investors...Source: New Zealand Herald - Business | 16 Aug 2008 | 5:00 pm Top tips : Cultural diversity in businessesKatheren Leitner, director of TrainingPlus, answers questions about cultural diversity in businesses. What is cultural diversity? Put simply, culture is the way people act and react to the experiences they have in life. We...Source: New Zealand Herald - Business | 16 Aug 2008 | 5:00 pm Bernard Hickey : Forced sales doubleA growing number of homeowners and property investors are being forced by their banks or finance companies to sell their properties through a mortgagee sale. Mortgage rates are increasing for many as they roll over two-year mortgages...Source: New Zealand Herald - Business | 16 Aug 2008 | 5:00 pm Martin Hawes : Forget the stigma - renting saves moneyNegative equity - the worst thing that can happen to property owners - is when the value of the house is less than the mortgage and you are well and truly out the back door. Some people are already facing negative equity and if...Source: New Zealand Herald - Business | 16 Aug 2008 | 5:00 pm Turkish president says more time needed for gas deal with IranTurkey and Iran need more time to finalise a major natural gas deal, President Abdullah Gul said Saturday, playing down reports that US pressure on Turkey to abandon the project is behind...Source: Infocious RSS raw feed - channel BNewsBusiness | 16 Aug 2008 | 4:03 pm NewsWatch: U.S. stocks likely to be under the influence of oilU.S. stock-market action next week is likely to take cues from the currency and commodities markets.Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 4:00 pm Gill South: Country life has a lesson for retailersSome younger managers struggling with current market conditions may be going through the first real economic slowdown in their career. For a while, it looked as though the good times were going to just keep going, but of course they...Source: New Zealand Herald - Business | 16 Aug 2008 | 4:00 pm Anthony Doesburg: Activist urges end to software strangleholdIf you think computers and the internet have done a power of good for individual freedom, you've clearly not been exposed to the thinking of Richard Stallman. Stallman, an American, is part-way through a speaking tour on which...Source: New Zealand Herald - Business | 16 Aug 2008 | 4:00 pm BAA expects forced airport salesBAA, owner of seven UK airports, expects the competition watchdog to order the break up of the company.Source: BBC News | Business | World Edition | 16 Aug 2008 | 2:47 pm China Heads Toward "Recession"
China's growth slowed to 10.1% in the last quarter. That means the economy has been losing its acceleration for more than a year. Bloomberg writes that ``China needs much faster growth than an average Western country as it has to generate 10 million jobs a year,'' said Tao Dong, chief Asia economist at Credit Suisse Group AG in Hong Kong. ``Eight percent growth in China is equivalent to a recession. Below nine percent would make the authorities quite nervous.'' Of course, a sharp drop in GDP in China would mean that imports from countries, especially the US, may begin to fall off. It begins a great circle of faltering economies around the world which could cause a recession as deep as the one in 1973/1974. The signs are there. Plummeting real estate values. Overextended credit. The world's fast growing country's losing their steam Douglas A. McIntyre Source: 24/7 Wall St. | 16 Aug 2008 | 1:44 pm NewsWatch: Small-cap mutual funds surprising leaders in tough marketIt's a grim reminder of how unforgiving this market has been that out of almost 3,000 diversified U.S. stock mutual-funds, only a handful are in the black so far this year. And the biggest surprise is that many of these strong performers are the unlikeliest survivors: small caps.Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 1:00 pm Auto Review: High style in the 2008 Rolls Royce PhantomIt is the car of kings, queens, rock stars, and potentates all over the world. In various forms, it has been setting the standard for luxury worldwide for over a century. Ron Amadon takes you for a ride in the spectacular 2008 Rolls Royce Phantom.Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 1:00 pm Personal Finance Daily: The week's 10 best Personal Finance stories: Aug. 11-15In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Aug. 11-15:Source: MarketWatch.com - Top Stories | 16 Aug 2008 | 12:01 pm
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