UBS to write down extra $5 billion in H2: report

ZURICH (Reuters) - Swiss bank UBS will have to write down another $5 billion on its risky investments in the second half of the year, a newspaper reported on Sunday.

Source: Reuters: Business News | 14 Sep 2008 | 10:13 am

Italy steps up effort to save Alitalia: reports

Efforts to rescue Alitalia intensified on Sunday as the Italian carrier has said it might cancel flights to save money, and its bankruptcy administrator warned the unions that time for a settlement was running out, media reports said.

Source: MarketWatch.com - Top Stories | 14 Sep 2008 | 10:04 am

Alitalia crisis talks to resume

Emergency talks to prevent Alitalia's collapse are due to resume after the airline warned it may have to cancel flights.
Source: BBC News | Business | World Edition | 14 Sep 2008 | 9:52 am

Race to save Lehman Brothers continues

Talks among key players in discussions to rescue Lehman Brothers, the embattled financial group, adjourned soon after 6pm on Saturday but expert groups of Wall Street division chiefs, Fed and Treasury...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 9:40 am

Race to save Lehman Brothers continues

Talks among key players in discussions to rescue Lehman Brothers adjourned early on Saturday evening but expert groups of Wall Street division chiefs, Fed and Treasury officials continued to work late into the evening to try and find a solution before Asian markets open on Monday
Source: FT.com - US homepage | 14 Sep 2008 | 9:40 am

Lachlan Murdoch Jakarta trip spurs Riady deal talk (Reuters)

Reuters - Lachlan Murdoch, son of media magnate Rupert Murdoch, met Indonesian tycoon James Riady in Jakarta last week, a Riady official said on Sunday, prompting talk that Murdoch may invest in Southeast Asia's biggest economy.

Source: Yahoo! News: Business | 14 Sep 2008 | 9:20 am

Lachlan Murdoch Jakarta trip spurs Riady deal talk

JAKARTA (Reuters) - Lachlan Murdoch, son of media magnate Rupert Murdoch, met Indonesian tycoon James Riady in Jakarta last week, a Riady official said on Sunday, prompting talk that Murdoch may invest in Southeast Asia's biggest economy.

Source: Reuters: Business News | 14 Sep 2008 | 9:20 am

Lachlan Murdoch Jakarta trip spurs Riady deal talk

JAKARTA (Reuters) - Lachlan Murdoch, son of media magnate Rupert Murdoch, met Indonesian tycoon James Riady in Jakarta last week, a Riady official said on Sunday, prompting talk that...
Source: Infocious RSS raw feed - channel BNewsBusiness | 14 Sep 2008 | 9:20 am

India investigates bombings in Delhi that killed more than 20

Indian authorities on Sunday were holding a number of people in connection with a series of Saturday evening bombings in New Delhi that killed more than 20 people and injured around 100, media reports said.

Source: MarketWatch.com - Top Stories | 14 Sep 2008 | 9:04 am

Talks over Lehman due to resume

Negotiations are due to resume to find a buyer for troubled US bank Lehman Brothers before a Sunday night deadline.
Source: BBC News | Business | World Edition | 14 Sep 2008 | 9:03 am

Italy seeks last-minute deal to save Alitalia

ROME (Reuters) - The Italian government scrabbled to save Alitalia from collapse on Sunday, less than 24 hours before the airline has said it might start cancelling flights as it cannot secure fuel supplies.

Source: Reuters: Business News | 14 Sep 2008 | 8:53 am

Italy seeks last-minute deal to save Alitalia

ROME (Reuters) - The Italian government scrabbled to save Alitalia from collapse on Sunday, less than 24 hours before the airline has said it might start cancelling flights as it cannot...
Source: Infocious RSS raw feed - channel BNewsBusiness | 14 Sep 2008 | 8:53 am

Lehman talks extend to third day

NEW YORK/WASHINGTON (Reuters) - Regulators and bankers failed on Saturday to reach a deal to end the crisis at investment bank Lehman Brothers, and emergency talks were extended to a third day as authorities seek to calm jittery financial markets.

Source: Reuters: Business News | 14 Sep 2008 | 7:38 am

Boeing CEO McNerney gambles on strike (Reuters)

Reuters - Boeing Co chief executive Jim McNerney is betting his career that the world's biggest-selling plane maker can survive a strike by its assembly workers and emerge stronger by holding firm on its right to outsource work on its aircraft.

Source: Yahoo! News: Business | 14 Sep 2008 | 7:35 am

Boeing CEO McNerney gambles on strike

NEW YORK (Reuters) - Boeing Co chief executive Jim McNerney is betting his career that the world's biggest-selling plane maker can survive a strike by its assembly workers and emerge stronger by holding firm on its right to outsource work on its aircraft.

Source: Reuters: Business News | 14 Sep 2008 | 7:35 am

Aeroflot jet crashes in central Russia, killing all 88 on board

A jet that had taken off from Moscow crashed early on Sunday as it prepared to land in central Russia, killing the 82 passengers and six crew on board, media reports said.

Source: MarketWatch.com - Top Stories | 14 Sep 2008 | 7:23 am

Philippines inflation to put brakes on historic economic growth

After 2007 saw the best economic growth in three decades, the Philippines is now struggling to control surging inflation, meaning interest rates may have to rise, putting a cap on recent...
Source: Infocious RSS raw feed - channel BNewsBusiness | 14 Sep 2008 | 7:15 am

AT & T buries customer rights in 2,500-page 'guidebook'

Judging from the phone company's voluminous new online customer manual, if you have a problem with your bill, too bad. AT&T; has sent...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

If you took out a mortgage, you're obligated to the bank

Regarding " They get a loan, we pay the price ," Consumer Confidential, Sept. 10:
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

If you took out a mortgage, you're obligated to the bank

Regarding " They get a loan, we pay the price ," Consumer Confidential, Sept. 10:

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

How does your backyard garden grow?

With proper preparation and know-how, even newbies can harvest a bumper crop of satisfaction along with their homegrown veggies -- and maybe save some money.

I don't have a green thumb. ¶ When little plants misbehave, their parents threaten to send them to my yard. ¶ But with supermarket prices for produce on the rise, it seemed a good time to try, yet again, to grow a vegetable garden. And I wouldn't be alone. According to the National Garden Assn., hard times seed more gardens. ¶ "The high point we had was in 1975, 1976, when there was a gas crisis and Gerald Ford had his Whip Inflation Now program," said Bruce Butterfield, research director for the association, which has been tracking gardening since 1973. "At that point, 49% of households had them." ¶ Last year and in 2006, the percentage stood at 22%. This year, Butterfield expects a resurgence. "We have gotten information from Burpee and other seed companies that they've been up in sales about 30% this year," Butterfield said. "And in some cases they've sold out." ¶ Locally, sales at the Armstrong Garden Centers chain are also up 30% this year. But Gary Jones, vice president of marketing, thinks the reasons go beyond the economic.

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

Prepare for a quake? L.A.'s too busy

Readiness is easy to achieve but residents remain complacent. Officials seek effective ways to educate.

Newlyweds receiving a wedding gift from Stacy Gerlich these days can expect a little disaster when they unwrap her present. The Los Angeles Fire Department captain forsakes the traditional toaster oven or personalized bric-a-brac, instead stuffing backpacks with goggles, bottled water, toilet paper and other earthquake-survival items.

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

AT & T buries customer rights in 2,500-page 'guidebook'

Judging from the phone company's voluminous new online customer manual, if you have a problem with your bill, too bad.

AT&T has sent customers an 8,000-word service agreement that, among other things, says people will be given 30-day notice of price increases only when "commercially reasonable" and that you can't sue the company.

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

Prepare for a quake? L.A.'s too busy

Readiness is easy to achieve but residents remain complacent. Officials seek effective ways to educate. Newlyweds...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

Are ID theft monitoring services worth it?

Most firms offer basic fraud alerts that consumers could set up themselves for free. Everyone is afraid of identity...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

Even if property prices are falling, your property taxes might not

So the boarded-up, foreclosed house across the street finally sells at a fire-sale price, saddling the entire block with a new reality: Prices are falling, and so are property values up and down the block. Right? And that means property taxes on that block should be reduced accordingly, right?

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

Offer of cash for a share in future equity growth carries risks for homeowners

Second of two parts

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

Are ID theft monitoring services worth it?

Most firms offer basic fraud alerts that consumers could set up themselves for free.

Everyone is afraid of identity theft. It seems as if every couple of days there are new reports of Social Security numbers and other sensitive information stolen, lost or leaked.

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

Hollywood condo complex becoming upscale home to Gen Xers

An upscale condo project near a famed intersection caters to the young and hip Making it in Hollywood has a different...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

Offer of cash for a share in future equity growth carries risks for homeowners

Second of two parts
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

Hollywood condo complex becoming upscale home to Gen Xers

An upscale condo project near a famed intersection caters to the young and hip

Making it in Hollywood has a different connotation to some of the Generation Xers seeking a sense of communal living along with shopping, bars, clubs, restaurants and culture outside their frontdoor. To these 28- to 43-year-olds, living near Hollywood and Vine (there are about 2,500 new upscale condos and apartments around that famed intersection) -- means they've arrived.

Source: L.A. Times - Business | 14 Sep 2008 | 7:00 am

How does your backyard garden grow?

With proper preparation and know-how, even newbies can harvest a bumper crop of satisfaction along with their homegrown veggies -- and maybe save some money. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

Even if property prices are falling, your property taxes might not

So the boarded-up, foreclosed house across the street finally sells at a fire-sale price, saddling the entire block with a new reality: Prices are falling, and so are property values up and down the block...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 7:00 am

Alitalia Unions Are Warned on Budget

The Italian airline warned unions saying that flights might have to be canceled for lack of fuel and that some workers would be laid of.
Source: Infocious RSS raw feed - channel BNPaperBusiness | 14 Sep 2008 | 6:50 am

Ike kills at least 4, knocks out power, pushes up gasoline prices

Rescuers and responders worked to reach thousands of Texans who stayed in their homes when Hurricane Ike hit, and while the now-weakened storm apparently wasn’t as devastating as worst-case estimates suggested, damage to life and property was still severe, media reports say.

Source: MarketWatch.com - Top Stories | 14 Sep 2008 | 6:45 am

Aussie dollar slump means short-term gain, long-term pain: dealers

A sharp fall in the Australian dollar may provide a short-term boost to economic growth but also risks re-igniting inflationary fears in the longer term, dealers say. The...
Source: Infocious RSS raw feed - channel BNewsBusiness | 14 Sep 2008 | 6:37 am

Lehman talks extend to third day (Reuters)

Reuters - Regulators and bankers failed on Saturday to reach a deal to end the crisis at investment bank Lehman Brothers , and emergency talks were extended to a third day as authorities seek to calm jittery financial markets.

Source: Yahoo! News: Business | 14 Sep 2008 | 4:27 am

Feds, Wall Street race to try to save Lehman

The field of possible buyers for Lehman Brothers narrowed Saturday, but the parties involved in the discussions over the wounded investment bank's future were at loggerheads over how to...
Source: Infocious RSS raw feed - channel BNewsBusiness | 14 Sep 2008 | 4:26 am

Economic Preview: Drop in energy prices should stay Fed's hand

The economic challenges facing the United States remain daunting, but there's one piece of good news: Falling energy prices have reduced some of the worries about inflation.

Source: MarketWatch.com - Top Stories | 14 Sep 2008 | 4:01 am

How Smart Are You? The Answer's Here

How old is your brain?

In June, this column challenged readers to take an online cognition and memory test that purports to tell us how quick and nimble our brains are—and how well we remember things.

The braniac exam was modified from actual test batteries used to help determine the success or failure of new drugs being developed to treat neurological disorders such as Alzheimer’s Disease.

The tests—which readers are still welcome to take!—provide a score indicating how old a person’s brain is based on their performance. It also tells test-takers how they compare with tens of thousands of people between the ages of 18 and 80 who have taken the test.

Comments about the test were lively. People who scored below their real age smugly reported how much they likes the test, while those who scored older than their biological age on the test—some by decades—were convinced the test was rigged, trivial, or not for real.

Scientists at Cognitive Drug Research, the company that runs the tests, explained to the disgruntled that some scores might have been affected either by people being distracted, or by computers, wireless units, and servers that might have been sluggish and effected scores requiring speedy responses.

Recently, Cognitive Drug Research, which is based in Goring-on-Thames, England, sent me results for the nearly 14,000 people who took the Portfolio.com test.

 Out of 13,836 tests taken, men outnumbered women by almost two to one; that reflects either the website's reading demographic, or a greater paranoia among men about how smart they are.

Regardless, the statistics show that men were faster in their response times, by 9 microseconds on average. Reaction time when choices needed to be made were 443 msec for men and 452 msec for women.

The median age of everyone taking the test was 35.7 years, with a range up to someone who claimed to be 103 years old. (The test only scores brain age up to 80 years old).

People who said they were 18 to 25 years old were 64 msec faster than those between the ages of 60 and 70. That may reflect the time they've spent on computers playing video games.

Below is a graph that tells test-takers how they fit in with the 14,000 people who took the test. I took the test once and got lucky, coming out with the brain of a 25 year old—half my real age. I haven’t taken the test again for fear of coming our much older.

My editor took the test several times, and came out older than his true years, then younger—a swing that may have had to do with how old he felt after editing my columns.

In the table below, 25.3 percent of 50 year olds had a "brain age" in the 20s. At the same time, 6.4 percent of 20 year olds had a "brain age" in the 50s. Check below to see how you did.

	Test-Takers' Actual Age
Their    Brain    Age	20	30	40	50	60	70
20	60.8%	52.7%	41.2%	25.3%	27.5%	11.1%
30	7.3%	9.9%	11.8%	8.6%	3.4%	3.7%
40	7.3%	6.5%	6.7%	14.2%	9.4%	9.4%
50	6.4%	8.2%	9.7%	12.6%	9.4%	7.4%
60	5.2%	6.8%	4.6%	6.5%	7.7%	7.4%
70	3.5%	4.1%	6.7%	11.1%	11.2%	7.4%
80	9.3%	11.6%	19.0%	21.3%	31.0%	55.5%

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Source: Portfolio.com: Top 5 | 14 Sep 2008 | 4:00 am

China as brave new market for German pig ears, feet

The German pork industry, Europe's largest, is turning its attention to China, not only a vast market but one with a taste for pigs' ears, feet and other delicacies that are shunned at...
Source: Infocious RSS raw feed - channel BNewsBusiness | 14 Sep 2008 | 3:56 am

Stranded Britons face extra bill

A British couple are given a hotel bill for almost £1,000, despite having already paid for their XL holiday.
Source: BBC News | Business | World Edition | 14 Sep 2008 | 3:43 am

Lehman's fate on the line

With the fate of beleaguered Lehman Brothers in the balance, some of Wall Street's most powerful executives and regulators huddled on Saturday to try to resolve the crisis facing Lehman and rocking the financial markets.

Source: Business and financial news - CNNMoney.com | 14 Sep 2008 | 3:14 am

More layoffs seen on Wall Street

As Lehman Brothers employees brace themselves for the worst, experts said Wall Street is likely to endure another painful round of job losses.

Source: Business and financial news - CNNMoney.com | 14 Sep 2008 | 3:07 am

Fuel production in Gulf grinds to halt

Source: Business and financial news - CNNMoney.com | 14 Sep 2008 | 3:05 am

Ike's aftermath: $4 gas

Gas prices are poised to shoot back towards record highs after Hurricane Ike's direct hit on the heart of the nation's oil refinery base, analysts said.

Source: Business and financial news - CNNMoney.com | 14 Sep 2008 | 3:04 am

Fed may look to cut rates soon

Source: Business and financial news - CNNMoney.com | 14 Sep 2008 | 2:55 am

Sunday share tips: SIG will profit from PM's lightbulb moment

Whether Gordon Brown's energy relaunch is any good for energy consumers is anyone's guess.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Pi to buy stake in Biffa

HBOS, the banking group, is poised to sell a share of its stake in rubbish collection firm Biffa to Pi Capital, the networking and investment club for some of Britain's best-known and wealthiest entrepreneurs.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Cable & Wireless accelerates demerger plan

Cable & Wireless is to accelerate plans to break itself up by announcing the £4.5bn demerger of its international business as early as the end of this month, writes Dominic White.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Ron Sandler is on a mission to turn Northern Rock around

Ron Sandler, who was parachuted in by the Government to turn the stricken bank around, reveals to Andrew Cave that he won't leave the post until the bank is back in private hands
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Network Rail's row with regulator goes on

Network Rail has appointed advisers to consider whether it should make an unprecedented appeal to the Competition Commission over a funding row with the industry regulator.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Wall Street privatises US government: be very afraid

The US low-tax zealot, Grover Norquist, is famous for wanting to "shrink government down to the size where we can drown it in the bathtub".
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Advent eyes Poundland sale as shoppers feel pinch

The hard times confronting high street chains might be causing panic across the industry, but some of those at the discount end of the retailing spectrum are revelling in the tough economic climes.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Alitalia flights may be halted to save money

Troubled Italian airline Alitalia may starting grounding flights from tomorrow to save money, amid growing concerns about the impact of fuel prices on the industry following a warning by Willie Walsh, the BA's chief executive, that 30 more airlines could go bust before Christmas.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Lehman Brothers fights for survival

The law of the financial jungle has all but accounted for one of Wall Street's biggest beasts, the investment bank Lehman Brothers. Its chief executive Dick Fuld has been desperately looking for a buyer over the weekend, write Louise Armitstead and James Quinn in New York .
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

BAE to review of troubled Astute nuclear submarine project

BAE Systems has started a review of its troubled Astute nuclear submarine programme after discovering problems that could further delay the Royal Navy taking charge of the first vessel.
Source: Telegraph Business | 14 Sep 2008 | 12:01 am

Far from Ike's path, an aftershock is felt: $5 gas

From Florida to Tennessee, and all the way up to Connecticut, people far from Hurricane Ike's destruction nonetheless felt one of its tell-tale aftershocks: gasoline prices that surged...
Source: Infocious RSS raw feed - channel BNewsBusiness | 13 Sep 2008 | 11:57 pm

Officials say 2 drilling rigs adrift off La. coast

The U.S. Minerals Management Service says there are two confirmed reports of drilling rigs adrift in the central Gulf of Mexico. Spokeswoman Eileen Angelico said Saturday the rigs are...
Source: Infocious RSS raw feed - channel BNewsBusiness | 13 Sep 2008 | 11:18 pm

Ike may push gas prices close to $4

Hurricane Ike created a wave of price spikes at gas stations across the country Saturday. Fears that the massive storm would cut off supply lent to wide disparities in prices state by...
Source: Infocious RSS raw feed - channel BNewsBusiness | 13 Sep 2008 | 11:15 pm

Govt, Wall Street race to try to save Lehman

The field of possible buyers for Lehman Brothers narrowed Saturday, but the parties involved in the discussions over the wounded investment bank's future were at loggerheads over how to...
Source: Infocious RSS raw feed - channel BNewsBusiness | 13 Sep 2008 | 11:12 pm

Can new BT boss Ian Livingston see the big picture?

It will soon be make-your-mind-up time for Ian Livingston, who has been BT’s chief executive for just three months. His telecoms group has had a tough time, with the shares falling 43% in a year, underperforming the FTSE All-Share index by 32%.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Swedish power giant Vattenfall eyes UK power market

A SWEDISH power giant has singled out Britain as its next big target market, stoking speculation that it could be readying a bid for one of the UK’s remaining independent energy groups.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Northern Rock rescue laws are flawed, warn banks

BRITAIN’s biggest banks have called on the government to tear up new legislation designed to prevent a repeat of the Northern Rock collapse.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Lehman can only blame itself for this disaster

Eighteen months ago, just before bonuses were paid out at Lehman Brothers, I was told by one of the investment bank’s European bosses that it was weeding out individuals who didn’t contribute big profits.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Oil giants flock to Iraqi auction

THE world’s largest oil companies will converge on London next month for a chance to re-enter Iraq for the first time in more than three decades.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Gresham House call to arms over coup

THE board of Gresham House, the oldest listed company on the London Stock Exchange, is fighting off a coup attempt by rebels trying to seize control.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Inflation is poised to peak and then slide

On Tuesday morning at 10.30, an hour after the release of the official inflation figures, what is becoming a familiar ritual will unfold. Mervyn King will write to Alistair Darling explaining why inflation is so much above the official target.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Insurers’ £38m deal with Xchanging to cut paper

THE Xchanging outsourcing group, best known for its sponsorship of the Boat Race, has signed a £38m contract to banish the paper trail from London’s insurance market.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

JP Morgan to sign for £1.5bn Canary Wharf headquarters

JAMIE DIMON, the ambitious chief executive of JP Morgan, is close to putting his signature to a new £1.5 billion European headquarters in London’s Canary Wharf.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Overseas shoppers on a spree

LONDON’s West End has experienced an extraordinary summer spending boom fuelled by rich international shoppers who enabled it to defy the credit crunch that has hit the rest of the country.
Source: Latest Business News from Times Online | 13 Sep 2008 | 11:00 pm

Will Lehman be forced to break up?

The forced breakup of Lehman Bros. or even its liquidation has become a more likely scenario over the weekend as talks drag between top U.S. financial officials and executives at major Wall Street firms trying to forestall the collapse of the investment firm and to keep weakness among financial firms from spreading.

Source: MarketWatch.com - Top Stories | 13 Sep 2008 | 10:45 pm

Gas prices rise as Ike hits Texas

Gas prices rose for the fourth straight day as Hurricane Ike slammed the Texas Gulf Coast early Saturday morning.

Source: Business and financial news - CNNMoney.com | 13 Sep 2008 | 9:44 pm

Hurricane Ike Photos: Houston Inside The Loop

Source: 24/7 Wall St. | 13 Sep 2008 | 9:05 pm

NewsWatch: U.S. officials, Wall St. execs hope to forestall Lehman collapse

Talks resume between top U.S. financial officials and executives at major Wall Street firms in an effort to forestall the collapse of Lehman Bros. and to keep weakness among financial firms from spreading.

Source: MarketWatch.com - Top Stories | 13 Sep 2008 | 9:00 pm

The Lehman lesson: A warning to Wall St.

The sad fate of Lehman Brothers is a cautionary tale of what's gone wrong with Wall Street.

Source: Business and financial news - CNNMoney.com | 13 Sep 2008 | 7:43 pm

Ike slams into Texas coastline

Oil and gas companies began redeploying staff into the Gulf of Mexico to work toward restoring production that had been shut off for almost two weeks as hurricanes Gustav and Ike swept through the US' largest energy producing area
Source: FT.com - US homepage | 13 Sep 2008 | 7:06 pm

Ike slams Texas with high winds, flooding

Residents in southeast Texas face the ravages of high winds and coastal flooding, after Hurricane Ike rams into the gulf state overnight. Though weakening, the deadly storm was accelerating north with gusty winds and potentially devastating heavy rains.

Source: MarketWatch.com - Top Stories | 13 Sep 2008 | 6:55 pm

CNN.com: Texas reeling from Hurricane Ike

Source: Business and financial news - CNNMoney.com | 13 Sep 2008 | 6:29 pm

India's Nano car deadlock continues as talks fail

KOLKATA, India (Reuters) - Indian political activists opposing a car plant to build Tata Motors' super-cheap Nano car threatened fresh protests on Saturday after talks with the government failed to break a deadlock, officials said.

Source: Reuters: Business News | 13 Sep 2008 | 6:28 pm

Regulators set to review Fannie, Freddie exit pay (Reuters)

Reuters - Financial regulators have decided how multi-million dollar severance packages for the departing chief executives of mortgage giants Fannie Mae and Freddie Mac could be limited.

Source: Yahoo! News: Business | 13 Sep 2008 | 6:20 pm

Regulators set to review Fannie, Freddie exit pay

WASHINGTON (Reuters) - Financial regulators have decided how multi-million dollar severance packages for the departing chief executives of mortgage giants Fannie Mae and Freddie Mac could be limited.

Source: Reuters: Business News | 13 Sep 2008 | 6:20 pm

Five bombs hit New Delhi

As many as 18 people died and dozens were injured when multiple bomb blasts rocked the centre of India's capital in attacks targeting busy shopping centres and markets
Source: FT.com - US homepage | 13 Sep 2008 | 5:38 pm

Walgreen bids $3 billion for Longs, topping CVS deal

Walgreen Co. makes a bid for Longs Drug Stores Corp., offering about $3 billion, including debt, for the California-based drug store chain and topping the outstanding offer from rival CVS Caremark Corp.

Source: MarketWatch.com - Top Stories | 13 Sep 2008 | 5:09 pm

Putting lipstick on a subprime pig

If nothing else, we've learned recently that if you put lipstick on a pig, it's still a pig. Presumably that has always been true - unless of course the pig in question was a subprime mortgage derivative, circa 2006. Then it was quite possibly a "runaway bargain," a "great time to buy," or an "opportunity in a market that's only going to go up."

Source: Business and financial news - CNNMoney.com | 13 Sep 2008 | 5:07 pm

EADS denies backing out of U.S. tanker contest

BERLIN (Reuters) - Airbus parent EADS denied on Saturday it was thinking of abandoning efforts to supply air tankers to the United States after a German weekly reported it was threatening to walk away from the fraught tender process.

Source: Reuters: Business News | 13 Sep 2008 | 4:52 pm

From the Inside of Hurricane Ike In Houston

Source: 24/7 Wall St. | 13 Sep 2008 | 4:35 pm

Auto Review: 2009 Nissan Murano SL

From grocery shopping to rutted and muddy roads in West Virginia the Murano proved to be a well built, refined vehicle that is also plunked right in the middle of the hot crossover market.

Source: MarketWatch.com - Top Stories | 13 Sep 2008 | 4:31 pm

Reap cash rewards with home renovations

For homeowners holding off selling in the current climate of falling property values, it is time to maintain and increase their equity in preparation for the next market upturn. But it takes careful planning to recoup renovation...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Bernard Hickey : Rents a tale of two cities

Here's a perfect example of how the economy has gone topsy turvy and where the real money is now being made. It's now more expensive to rent a three-bedroom house in Wellington than in Auckland. Rents for three-bedroom houses...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Job jumpers demand sizeable salary leaps

Employees who are considering changing jobs still expect sizeable salary rises despite tightening worldwide economic conditions - and local employers are under pressure to compete with what's on offer overseas. A new global online...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Picture of wealth

New auction house ART+OBJECT has released its fourth contemporary art catalogue into a "thriving" investment market place. Managing director Hamish Coney says while more mainstream investment markets, such as real estate and shares,...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Martin Hawes : How to sell your house in a slump

When the market dies, it gets hard to sell property. So, if you have to sell, how do you go about doing this in a buyers' market? The first question is do you really have to sell? My investment mantra is "buy in gloom, sell...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Top tips : How business owners can make a recession work for them

Ben Ridler, managing director of The Results Group business coaching, tells how business owners can make a recession work for them. What three core issues should all business owners be addressing? The recession has changed...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

US suspends imports of NZ flowers

The United States Department of Agriculture has suspended all imports of New Zealand flowers and foliage due to an interception of light-brown apple moths on a shipment. Greg Keymer, a spokesman for the New Zealand Flower Exporters...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Fire sales forecast

More forced sales will occur in "high-risk" property spheres, such as the resort developments of Queenstown, Wanaka and Taupo, where development has been speculative and large-scale. Chris Eves, property studies professor at Lincoln...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Start-up funding

Investments groups Sparkbox and K1W1 have launched a start-up fund for entrepreneurs from business incubator The Icehouse. Icehouse chief executive Andrew Hamilton says the fund will help start-up entrepreneurs with promising ideas...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Lodge for sale

The freehold interest on which luxury alpine lodge Grasmere is situated is up for mortgagee sale by September 26. Grasmere Lodge, managed by Tom Butler, leases the land and buildings from owner company Grasmere Estate Trustco. That...
Source: New Zealand Herald - Business | 13 Sep 2008 | 4:00 pm

Walgreen offers $2.8B for Longs Drug Stores

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 13 Sep 2008 | 2:24 pm

Live Report From Jon Ogg At 24/7 Wall St. Houston Bureau

Power off and on. Downtown has some. Winds are side-way. Branches are flying through the air.

Jon Ogg reported live from our Houston bureau described a storm which is as bad as it could be for the huge metro area.

If these conditions hit the refineries along the coast, there is a very good chance the large refineries new the Port of Houston could be closed for weeks, driving gas prices up. In some areas in the Southwest, petrol has already hit $6 a gallon.

The human toll could be tremendous. Several thousand people did not leave Galveston which has been overrun by the storm surge.

Douglas A. McIntyre

Source: 24/7 Wall St. | 13 Sep 2008 | 12:30 pm

Lehman (LEH) May Or May Not Be Sold, May Or May Not Get Government Help, May Or May Not Sell Assets, May Or May Not Remain Independent

Lehman (LEH) may or may not open for trading on Monday morning. A number of experts believe that the broker's problems must be resolved before Asia markets open, or that a panic may cause sell-offs in financial stocks.

That would mean the company would have to announce plans by 7 PM eastern time on Sunday.

Depending on which medium is reporting, Lehman's situation may or may not have been resolved.

According to The Wall Street Journal, The Federal Reserve Bank of New York had takes with head of major investment banks yesterday to try to figure out what would become of Lehman. "The group, which consisted of the heads of most major financial institutions, is expected to meet throughout the weekend to see if it can agree on some way to rescue the ailing firm."

According to Reuters, Bank of America (BAC) may or may not buy Lehman. The news service writes that "the No. 2 U.S. bank by assets, was considering a joint bid for Lehman along with private equity investor JC Flowers and sovereign wealth fund China Investment Co."

According to Bloomberg, Lehman may or may not sell its asset management operations, including Neuberger Berman, to save itself and stay independent. "Lehman received bids for its asset-management unit from private- equity firms including Bain Capital LLC and Clayton Dubilier & Rice Inc., said people familiar with the situation." These offers value the Lehman unit at about $5 billion. Lehman's entire market cap is only $2.5 billion.

According to the FT, Lehman may or may not make it at all and will simply fail. Writing about any potential deal to salvage the company the FT reports "People close to the discussions said Lehman’s $33bn portfolio of commercial real estate could prove a stumbling block for any deal. Potential buyers could be deterred by fears of further writedowns on the assets."

None of these reports may or may not be right.

Douglas A. McIntyre

Source: 24/7 Wall St. | 13 Sep 2008 | 11:20 am

Wide financial sector fears to drive market

NEW YORK (Reuters) - Even if the fate of Lehman Brothers is resolved this weekend, Wall Street is likely to remain on edge next week because of fears over the health of other big financial companies.

Source: Reuters: Business News | 13 Sep 2008 | 11:15 am

Wide financial sector fears to drive market (Reuters)

Reuters - Even if the fate of Lehman Brothers is resolved this weekend, Wall Street is likely to remain on edge next week because of fears over the health of other big financial companies.

Source: Yahoo! News: Business | 13 Sep 2008 | 9:35 am