Bail bondsmen make it cheaper to get out of jail

Bail bond agents are increasingly helping cash-strapped defendants get out of jail with ultra-cheap financing deals, a practice that worries law enforcement officials and insurers, and...
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:45 pm

Wall Street set for modest bounce

US stocks were set for a slightly higher opening despite early reports showing disappointing retail sales so far during the vital holiday period
Source: Financial Times - US homepage | 26 Dec 2008 | 2:44 pm

Stocks up after GMAC lifeline, dip in retail sales (AP)

AP - Wall Street rose modestly in light post-holiday trading Friday, but was still cautious about embarking on a year-end rally following dreary preliminary readings on holiday spending.

Source: Yahoo! News: Stock Markets News | 26 Dec 2008 | 2:43 pm

Amazon claims record holiday orders in '08 season

NEW YORK (Reuters) - Online retailer Amazon.com Inc on Friday reported its best holiday sales season yet, even as sales and traffic at U.S. store chains were the weakest in decades, sending its shares up nearly 4 percent.
Source: Reuters: Business News | 26 Dec 2008 | 2:42 pm

Futures Movers: Oil rises first day in four after falling 33% in month

NEW YORK (MarketWatch) – Crude-oil futures rise for the first session in four as traders buy the contracts on the heels of a 33% slump this month.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 2:42 pm

Wall Street opens up on GMAC decision (Reuters)

Reuters - Stocks rose on Friday as General Motors shares rallied 14 percent on news its GMAC affiliate qualified to be a bank holding company.

Source: Yahoo! News: Business | 26 Dec 2008 | 2:41 pm

Wall Street opens up on GMAC decision (Reuters)

Reuters - Stocks rose on Friday as General Motors shares rallied 14 percent on news its GMAC affiliate qualified to be a bank holding company.

Source: Yahoo! News: Stock Markets News | 26 Dec 2008 | 2:41 pm

Wall Street opens up on GMAC decision

NEW YORK (Reuters) - Stocks rose on Friday as General Motors shares rallied 14 percent on news its GMAC affiliate qualified to be a bank holding company.
Source: Reuters: Business News | 26 Dec 2008 | 2:41 pm

Early signs of gloom for retailers, but e-tailers may shine

Aggressive price discounting by U.S. retailers are apparently to no avail, with a new survey showing sinking sales across several categories as consumers curtailed their holiday shopping this year.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 2:41 pm

Wal-Mart to start selling iPhones on Sunday

CHICAGO (Reuters) - Wal-Mart Stores Inc said on Friday it will start selling certain models of Apple Inc's iPhone on Sunday, but the popular cell phones will not priced as low as some anticipated.
Source: Reuters: Business News | 26 Dec 2008 | 2:40 pm

Stocks cheerful at open

Stocks opened higher Friday morning as a smattering of investors returned from the holiday to confront grim retail sales figures.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 2:38 pm

Oil rises above $36 after UAE cuts supplies (Reuters)

Reuters - Oil climbed above $36 a barrel on Friday after the United Arab Emirates joined leading exporter Saudi Arabia in deepening supply curbs in line with OPEC's biggest ever output cut announced last week.

Source: Yahoo! News: Business | 26 Dec 2008 | 2:37 pm

Oil rises above $36 after UAE cuts supplies

LONDON (Reuters) - Oil climbed above $36 a barrel on Friday after the United Arab Emirates joined leading exporter Saudi Arabia in deepening supply curbs in line with OPEC's biggest ever output cut announced last week.
Source: Reuters: Business News | 26 Dec 2008 | 2:37 pm

Stocks up after GMAC lifeline, dip in retail sales

Wall Street is up in light post-holiday trading Friday, but still cautious about embarking on a year-end rally after dreary readings on holiday spending. Investors did get a some good...
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:37 pm

Currencies: Dollar down on weak shopping data

NEW YORK (MarketWatch) -- The U.S. dollar trades lower, with evidence of poor retail sales serving as the focus for thin post-holiday trading.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 2:35 pm

Projecting The 2009 Dogs of the Dow (AA, T, BAC, C, DD, GE, JPM, MRK, PFE, VZ)

Source: 24/7 Wall St. | 26 Dec 2008 | 2:27 pm

UPDATE 1-Conoco, Cenex Montana refineries hit by fire-reports

HOUSTON, Dec 26 (Reuters) - Fires broke out at the ConocoPhillips and Cenex refineries in Montana on Thursday, according to reports from Montana television stations and newspapers.
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:21 pm

Amazon says 2008 holiday season is its 'best ever'

Amazon says the 2008 holiday season "finished as its best ever," in spite of grim results across much of the overall retail sector.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 2:20 pm

Retailers slash prices to entice holiday shoppers (AP)

AP - Shoppers hit the stores early Friday to return unwanted gifts and take advantage of drastic price cuts offered by retailers desperate to get rid of old merchandise and boost their less-than-cheery holiday sales.

Source: Yahoo! News: Business | 26 Dec 2008 | 2:19 pm

Amazon says 2008 holiday season was 'best ever'

Amazon.com Inc. said Friday that the 2008 holiday season was the online retailer's "best ever," with more than 6.3 million items ordered and 5.6 million units shipped during its peak day on
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:18 pm

UPDATE 1-India's Nov oil product sales sluggish as econ slows

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Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:16 pm

Jones Apparel reduces lines of credit, shares rise

CHICAGO (Reuters) - Jones Apparel Group Inc said on Friday it reduced its $1.25 billion lines of credit to a single line of credit of $600 million in return for more flexibility, sending shares up 15.7 percent in premarket trading.
Source: Reuters: Business News | 26 Dec 2008 | 2:14 pm

What are financial planners buying?

Question: Financial advisers always know our net worth and investments, but we never know what they are invested in. What are the Mole's investments?
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 2:08 pm

Conoco, Cenex Montana refineries hit by fire-reports

HOUSTON, Dec 26 (Reuters) - Fires broke out at the ConocoPhillips and Cenex refineries in Montana on Thursday, according to reports from Montana television stations.
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:07 pm

China, Taiwan sign oil cooperation deals

China National Offshore Oil Corp., the country's largest offshore oil and gas producer, signed four oil cooperation agreements Friday with Taiwan's CPC Corp., state media reported. The...
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:06 pm

Russian ruble falls to three-year low against dollar

The Russian ruble dropped to a three-year low against the dollar on Friday, as a senior central bank official dismissed rumours of a sharp New Year's Eve devaluation as "complete nonsense."
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:06 pm

Retailers' holiday sales plummet

NEW YORK (Reuters) - Retailers' sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.
Source: Reuters: Business News | 26 Dec 2008 | 2:04 pm

Retailers' holiday sales plummet (Reuters)

Reuters - Retailers' sales fell as much as 4 percent during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to data released on Thursday by SpendingPulse.

Source: Yahoo! News: Business | 26 Dec 2008 | 2:04 pm

Wal-Mart (WMT) Confirms Sale of Apple (AAPL) iPhone Starting December 28th

Wal-Mart (NYSE: WMT) confirms it will sell Apple's (Nasdaq: AAPL) iPhone starting December 28th.

Wal-Mart will offer the black 8 GB iPhone 3G model with the every day price of $197 and the 16 GB black or white model for $297, with a new two-year service agreement from AT&T or qualified upgrade. As America's price leader, Walmart’s price match policy also allows stores to match the price of any local competitor’s advertised store price on the same item within the same promotional period.

Read more...

Source: 24/7 Wall St. | 26 Dec 2008 | 2:02 pm

3 best Web books of 2008

Looking to capitalize on the Facebook revolution? These must-reads show you how.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 2:00 pm

When Bond Funds Change Investment Objectives (PHK)

Source: 24/7 Wall St. | 26 Dec 2008 | 2:00 pm

UPDATE 1-Tesoro reports flaring at L.A. refinery--filing

HOUSTON, Dec 26 (Reuters) - Tesoro Corp reported flaring due to an equipment breakdown at its 100,000 barrel per day Los Angeles refinery on Friday, according to a notice filed with Los Angeles-area pollution...
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:00 pm

NewsWatch: Japan November industrial output falls 'off the cliff'

HONG KONG (MarketWatch) -- Japan's industrial output tumbles at a record pace in November, stoking fears the country’s recession may stretch longer and be more painful than anticipated.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 2:00 pm

Fannie Mae Redemption

WASHINGTON, Dec. 26 /PRNewswire-FirstCall/ -- Fannie Mae (NYSE: FNM) will redeem the principal amounts indicated for the following securities issues on the redemption...
Source: RSS feed - channel BNewsBusiness | 26 Dec 2008 | 2:00 pm

Holiday Success At Amazon (AMZN) Runs Against The Grain

Jeff Bezos, the founder and CEO of Amazon (AMZN) is the internet's great escape artist. His company has been in trouble countless times only to emerge better off. He was beaten on by the stock market for low margins and high shipping costs. He bought profits up to show that he could, if he wanted to, produce better earnings.

When investors were concerned that all he had was on online book company, he increased his product offerings to include a range of items from consumer electronics to jewelry.

Bezos has been endlessly inventive. He brought the Kindle electronic book reader out earlier this year. It has been, by almost every measure, a success. Even Oprah likes it.

Bezos figured that he had excess computing and e-commerce capacity, so he allows other companies to pay to use a part of his IT infrastructure--for a fee.

This holiday season has turned out to be like the wreck of the ore ship the Edmund Fitzgerald. One moment it was there, and the next moment it had sunk all the way to the bottom. Every retailer has been taken down, with the possible exception of Wal-Mart (WMT).

To the amazement of Wall St., Amazon today said it had "its best holiday ever".

In the firm's statement it said "Amazon announced the 2008 holiday season finished as its best ever, with over 6.3 million items ordered worldwide on the peak day, Dec. 15, which is a record-breaking 72.9 items per second."

The company cataloged the reasons for it success. It posted impressive sales for software, GPS devices, coffee, watches, and CDs.

In the final analysis, Amazon probably did so well because new products like the Kindle build upon the consumer's impression that the online store firm is endlessly inventive. Amazon has done what many of its Web 1.0 rivals have not been able to do. Its has set the bar so high that no one else can clear it.

Douglas A. McIntyre

Source: 24/7 Wall St. | 26 Dec 2008 | 1:56 pm

Indications: U.S. stock futures point to gains for Friday

NEW YORK (MarketWatch) -- U.S. stock futures pointed to a firmer start, albeit in holiday-thinned trading, with a particular focus on retailers as post-Christmas sales kick off in earnest.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 1:51 pm

What drove Bernie Madoff

Bernard Madoff, the man accused of perpetrating one of the greatest frauds in history by allegedly losing $50 billion of investors' money, barely stood out in the Wall Street world of big personalities.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 1:44 pm

Guinea junta appeals for financial help

The leaders of a military junta that seized power in Guinea appealed for international support for their pledge to lead the country into a new era of democratic rule
Source: Financial Times - US homepage | 26 Dec 2008 | 1:43 pm

Bonds inch up in light post-holiday trade

With few investors trading and fewer indicators to base trades on, government bonds held tight Friday, with yields continuing to hover near historic lows.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 1:15 pm

The rush to refinance

Low interest rates are fueling a mortgage refinance frenzy as homeowners rush to lower their payments.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 1:09 pm

'Is this a good time to prepay our mortgage?'

With the economy and the market floundering, you need Money's help more than ever. Our experts are on the case.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 12:48 pm

Bailout blow-out car deals

There is one bright spot in the spiraling auto industry's malaise: deals.The auto-pricing experts at CarsDirect.com helped us identify some of the best.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 12:47 pm

GMAC gets Fed's OK to become bank holding company

WASHINGTON (Reuters) - GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy.
Source: Reuters: Business News | 26 Dec 2008 | 12:23 pm

Asian markets mixed in quiet holiday trade (AP)

AP - Asian markets were mixed in quiet holiday trade Friday amid new evidence that companies and consumers alike were struggling as the global economy slumps.

Source: Yahoo! News: Stock Markets News | 26 Dec 2008 | 11:57 am

Movers & Shakers: Friday's biggest gaining and declining stocks

MADRID (MarketWatch) -- Among the companies whose shares are expected to see active trade in Friday's session are GM and The New York Times Co. Wall Street was closed on Thursday for Christmas.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 11:56 am

Mr. Darwin Goes To Washington

The new Congress and administration will probably set up programs using $800 billion to create jobs. The total number of people they hope to put back to work could be three million or more. The cash will be spent primarily on infrastructure such as roads, schools, alternative energy facilities, and broadband.

The only trouble with the economic aid program is that it may not be enough to cover all of the capital needed by scores of industries. Among those which will need funds are obviously the auto and financial companies. Airlines and retail could be on the list early in 2009. Municipalities may seek cash as well.

The next issue the government is going to face, and it will have to face it within a month or two, is which entities will be saved and which will be left to perish. The portion of the decision-making process involving compassion may be trumped by the strategic need to keep some parts of the economy going.

What has not been articulated anywhere is which needy programs or industries will make the grade and on what basis that will be decided. So far, the process has been ad hoc. That can't go on forever because it will start of process of random salvation which is made based on immediate need and not strategic economic value.

The whole system of bailing out may never have a guiding principle. That will add to the chaos.

Douglas A. McIntyre

Source: 24/7 Wall St. | 26 Dec 2008 | 11:41 am

Blue Point to help China firms expand in U.S.

SHANGHAI (Reuters) - U.S. private equity fund Blue Point Capital Partners, which helps mid-sized firms in the United States invest in China, is eyeing new opportunities to help Chinese companies invest abroad, its Asia managing director said.
Source: Reuters: Business News | 26 Dec 2008 | 11:34 am

Being California Gets More Expensive

Institutions that are not likely to pay their bills have to offer higher interest rates for capital. Old rule. Usually works. Credit agencies issue ratings which allow investors to decide how much risk they can stomach. That part of the system turned to dust during the credit crisis.

Now that evaluating debt has regained some of its equilibrium, one of the focuses on potential default levels has turned to states and municipalities.

According to Bloomberg, "California’s fiscal crisis pushed yields on tax-backed debt to a four-year high as the state struggles with a $42 billion budget deficit." Michigan, Florida, and Rhode Island are facing similar problems and those troubles are about to spread to other large states such as New York.

High interest rates always tag the entities that cannot afford to pay them out. Whatever assistance states are going to need from the federal government is going to get more acute as they look at the price they will have to pay for capital.

Bailing out a dozen or two dozen states with huge deficits may be beyond what Congress and the administration can stomach.

The only solution may be to offer states low interest loan guarantees. That may work. It would cost the federal government less money than a massive state bailout program. But, it may not be enough, which means the problem will be sent down the road to be revisited like almost all the other financial troubles which have popped up over the last year.

Douglas A. McIntyre

Source: 24/7 Wall St. | 26 Dec 2008 | 11:27 am

For Retailers, The Worst Holiday Gets Worse

How can the worst retail holiday season in years get worse? It can become the worst holiday season since anyone kept accurate records.

There have been signs for several weeks that e-commerce and store sales were falling at single digit rates. But, as each day passed, the industry hoped that discounts would lure shoppers back into stores for that one final spending spree.

According to new information from the Mastercard SpendingPulse poll, sales in some retail categories were down more than 20%. Reuters says that apparel sales in outlets such as Gap (GPS) were off 19.7% and electronics sales at chains including Best Buy (BBY) plunged almost 27%.

One "benefit" of sales being down this much is that the overcapacity in retail built up during the latest period of easy credit will be washed out of the system. The strongest companies will be able to raise prices faster in a recovery without the weakest firms driving discounts to reduce inventory.

Recently, the nation's biggest retail association suggested "tax free" periods set up by the government to drive sales for periods of several days at a time. That could also drive an increase in debt in already overextended consumers. The by-product of the plan could lead to more credit card defaults.

The retail industry is not going to be saved. Unlike the auto and financial sectors, the government is going to allow the stragglers to fail. The number of stores in the US could drop by tens of thousands and big struggling chains such as Circuit City will disappear.

The federal government may want to save every part of the economic system, but Darwin has come to Washington.

Douglas A. McIntyre

Source: 24/7 Wall St. | 26 Dec 2008 | 11:11 am

Russia unveils list of strategic enterprises

Russia has unveiled a list of strategic enterprises entitled to preferential government support in the economic crisis but said the list was not complete and did not guarantee the receipt of the financial help
Source: Financial Times - US homepage | 26 Dec 2008 | 11:07 am

Asian stocks finish mixed

Asia and Pacific markets were mixed in light trading at the end of the holiday week.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 10:31 am

Japan industrial output logs record fall (Reuters)

Reuters - Export-reliant Asian economies showed more signs of weakness on Friday, with Japan's industrial output diving at a record pace and South Korea warning it faces an "unprecedented crisis" as global demand wilts.

Source: Yahoo! News: Business | 26 Dec 2008 | 10:29 am

Japan industrial output logs record fall

TOKYO (Reuters) - Export-reliant Asian economies showed more signs of weakness on Friday, with Japan's industrial output diving at a record pace and South Korea warning it faces an "unprecedented crisis" as global demand wilts.
Source: Reuters: Business News | 26 Dec 2008 | 10:29 am

Japan's industry, employment weaker

Japan's government released some key reports Friday indicating the island nation's economy is suffering along with the rest of the world.
Source: Business and financial news - CNNMoney.com | 26 Dec 2008 | 10:15 am

S Korea asks SAIC to help with auto bailout

SAIC Motor, China's largest automaker, has come under pressure to rescue Ssangyong Motor, the South Korean sport utility maker it took control of in 2004.The South Korean government Friday said it would...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 10:10 am

Japan November industrial output falls 'off the cliff'

HONG KONG (MarketWatch) -- Japan's industrial output tumbles at a record pace in November, stoking fears the country’s recession may stretch longer and be more painful than anticipated.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 9:06 am

Media Digest 12/26/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, as investors moved to cash, oil has come down, but that is not likely to last.

Reuters writes that data from MasterCard (MA) shows holiday spending may have dropped as much as 4%.

Reuters reports that Japan's industrial output took a record fall.

Reuters writes that Toyota (TM) recalled 120,000 cars in China.

The Wall Street Journal reports that natural gas prices remain cheap.

The Wall Street Journal reports that banks are confused by regulators some who ask them to spend more and others who want them to build capital.

The Wall Street Journal reports that Mattel plans to build at edgier Barbie.

The Wall Street Journal reports that a large refinery opening in India will put pressure on global refining margins.

The Wall Street Journal reports that many pension funds are sticking with hedge funds.

The Wall Street Journal reports that the slump is hurting large numbers of small businesses.

The Wall Street Journal reports that GMAC's new status as a bank could draw the government into a situation where it might need to invest billion of dollars.

The Wall Street Journal reports that weakness in economies overseas could help investment in the US.

The Wall Street Journal reports that AIG (AIG) has bought $16 billion in collateralized debt obligations insured through credit-default swap contracts.

The Wall Street Journal reports that China data on its economy may not be reliable.

The Wall Street Journal reports that the FDA want more information on AstraZeneco drug Seroquel

The New York Times reports that Royal Philips Electronics is moving away from home electronics and toward the next generation of light bulbs and hospital scanning and monitoring equipment.

The New York Times reports that growth in Vietnam is slowing.

The FT reports that Google (GOOG) employee got bonuses in smartphones and not cash.

Bloomberg reports that the ruble fell to a record low against the euro.

Bloomberg reports that California bond yields hit a four-year high because of problems with the state budget.

Douglas A. McIntyre

Source: 24/7 Wall St. | 26 Dec 2008 | 8:49 am

Asia Markets: Tokyo extends gains on Asahi Breweries, exporters

HONG KONG (MarketWatch) -- Asian markets mostly advance thin holiday trading, with Japanese shares rising for a second session as Asahi Breweries climb on a report the brewer was likely to beat its profit forecast, while exporters such as Toyota Motor Corp. extend gains as investors snap them up before the end of the year.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 8:22 am

Asia Markets 12/26/2008

A number of markets in Asia were closed.

The Nikkei rose 1.8% to 8,740. Investors continued to buy depressed shares in Toyota (TM).

The Shanghai Composite was down .1% to 1,852.

Data from Reuters.

Douglas A. McIntyre

Source: 24/7 Wall St. | 26 Dec 2008 | 8:16 am

China shares edge lower amid gloomy profit outlook (AP)

AP - Chinese stocks edged lower Friday as early gains succumbed to gloom over earnings prospects for many listed firms.
Source: Yahoo! News: Stock Markets News | 26 Dec 2008 | 8:09 am

A less electrifying electronics expo

Amid the recession, the Consumer Electronics Show in Vegas will go easier on the glitz and 'cool stuff' and focus more on generating sales. ...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Holiday retail sales down 5.5% to 8%, preliminary data show

The sluggish economy and bad weather damp retailers' revenue, preliminary data show. It's official: This was a...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Aston Martin 2009 DBS is a car you can bond with

The vehicle in 'Quantum of Solace' is one smoking-hot vehicle. With my rock-hard abs and murderous smile, I'm...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Japan's vehicle sales plunge

Japan's production of cars, trucks and buses marked its steepest drop in at least four decades in November, an industry group said Thursday, as the fallout from the U.S. slowdown crimped auto demand.
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Money is no longer flowing at Yellowstone Club

The exclusive resort's bankruptcy filing is hurting many small firms that serve it. Builders, florists and blacksmiths...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

How to end a 'decade of neglect' in U.S.-Latin America relations

UCLA professor Sebastian Edwards discusses missed opportunities and ways to improve ties. Latin America began...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Rich rein in lavish habits as net worth takes big hit

The rich are tightening their belts too. Even if it's still a Gucci.
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Some TV stations to lose viewers in shift to digital, FCC says

The agency says some viewers who use analog-only TV sets could lose some or all broadcast channels after the Feb. 17 digital transition even if they have hooked up converter boxes. ...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 8:00 am

Japan's industrial output plunges

Industrial output in Japan fell more than 8% in November, the biggest drop on record, government figures show.
Source: BBC News | Business | World Edition | 26 Dec 2008 | 5:51 am

Gloomy prediction for UK economy

An independent group of economists forecasts the biggest contraction in the UK economy since 1946 next year.
Source: BBC News | Business | World Edition | 26 Dec 2008 | 5:29 am

John Dvorak's Second Opinion: AMD is the 10-bagger pick for 2009

When searching for a 10-bagger stock, look for a company with high beta, low debt and selling near its book value. AMD fits the bill.

Source: MarketWatch.com - Top Stories | 26 Dec 2008 | 5:05 am

Gloomy data underscore Japan's economic woes

Japanese industry has suffered a record fall in output, while unemployment continues to rise and a slide in household spending remains unchecked
Source: Financial Times - US homepage | 26 Dec 2008 | 4:02 am

Lender alliance Hope Now says it helped 2.2 million keep homes

The figure, however, does not account for those who may have re-defaulted. More than 50% of loans modified this year were delinquent again within six months, regulators report. ...
Source: RSS feed - channel BNPaperBusiness | 26 Dec 2008 | 3:31 am

Medieval crunch

King Edward I would recognise current troubles
Source: BBC News | Business | World Edition | 26 Dec 2008 | 1:34 am

Year of woe

Who is to blame for the UK's economic troubles?
Source: BBC News | Business | World Edition | 26 Dec 2008 | 1:33 am

America's top 10 business stories of the year

With the speed of a supermarket thriller, Wall Street was upended and remade in 2008. First, investment bank Bear Stearns teetered near collapse, then was sold in a shotgun deal to JPMorgan Chase in a deal that valued each of Bear's...
Source: New Zealand Herald - Business | 26 Dec 2008 | 1:00 am

Aussie retailers will do it tough in 2009

SYDNEY - Retailers in Australia are battening down for a tough year in 2009 as the slowing economy makes consumers more wary about spending, laying the ground for a decline in sales and possible store closures. The difficulties...
Source: New Zealand Herald - Business | 26 Dec 2008 | 1:00 am

Credit crunch dents American retirement dream

The great American retirement dream of playing golf and doing gentle water aerobics in the sun, surrounded by like-minded seniors, is the latest victim of the credit crunch.
Source: Latest Business News from Times Online | 26 Dec 2008 | 12:00 am

Cadbury quits drinks market with sale of last Schweppes subsidiary is sold

Cadbury agreed on Christmas Eve to sell Schweppes Beverages, its Australian drinks arm, to Asahi, the Japanese brewer, for £550 million in cash, disposing of the last remaining drinks business in its portfolio.
Source: Latest Business News from Times Online | 26 Dec 2008 | 12:00 am

Energy groups to cut electricity and gas bills

Millions of consumers and businesses are set to receive price cuts of at least 10 per cent in their gas and electricity bills early in the new year, although some may have to wait longer.
Source: Latest Business News from Times Online | 26 Dec 2008 | 12:00 am

December sales figures won’t be pretty, say retailers

Retailers reported that pre-Christmas sales had been poor, despite the unprecedented discounts offered in a desperate attempt to convince consumers to part with their cash on the high street.
Source: Latest Business News from Times Online | 26 Dec 2008 | 12:00 am

University goes to court over $24m lost in Bernard Madoff scandal$

This is not how J. Ezra Merkin, the president of the wealthy Fifth Avenue Synagogue on the Upper East Side of Manhattan, would have wanted to end its jubilee year.
Source: Latest Business News from Times Online | 26 Dec 2008 | 12:00 am

Work Life: A party starter

In this installment of "A Day in the Work Life," we take a spin with Claudette "Sexy DJ" Colbert.
Source: Marketplace | 25 Dec 2008 | 8:42 pm

Mexico draws immigrants at holidays

Going home to Mexico for the holidays has become an annual pilgrimage for many immigrants, and driving there has a particular appeal for young people raised stateside. Melissa Giraud reports.
Source: Marketplace | 25 Dec 2008 | 7:18 pm

Stores put on push to save the season

Retailers are paying the price for the worst holiday sales in decades. In spite of door busters that busted their budgets, they're stuck with massive amounts of unsold inventory. Nancy Marshall Genzer reports.
Source: Marketplace | 25 Dec 2008 | 7:08 pm

St. Bernanke has a gift for GMAC

The Federal Reserve has one last Christmas gift for the auto industry. It's allowing GMAC, General Motors's financing arm, to become a bank holding company -- which makes it eligible for TARP funds. Jeremy Hobson reports.
Source: Marketplace | 25 Dec 2008 | 6:58 pm

Got a pink slip? It's time to party

For laid-off Wall Street workers, attending a Pink Slip Party is both an opportunity to mingle with other job seekers and a chance to maybe land a new job. Amy Scott reports.
Source: Marketplace | 25 Dec 2008 | 6:26 pm

Avoid holiday stress: Hire someone

Decorating your home for the holiday can be an arduous, stressful activity. So why not hire someone else to do it? For the right price, Dr. Christmas will do everything from roof lights to an art deco tree. Lenora Chu reports.
Source: Marketplace | 25 Dec 2008 | 6:01 pm

Our 'Rock Band' needs some practice

The video music game Rock Band continues to be a popular item among gamers and the less technically inclined. Kai Ryssdal and some Marketplace rockers checked it out with Kevin Pereira from G4 television.
Source: Marketplace | 25 Dec 2008 | 5:52 pm

GM becomes a bank to gain access to more funds

General Motors (GM) has gained access to billions of extra dollars in US Government assistance when the Federal Reserve approved an application for the struggling car maker's finance arm to become a bank.
Source: Latest Business News from Times Online | 25 Dec 2008 | 5:14 pm

Zavvi and Whittards to slash prices on Boxing Day as they fight for survival

Zavvi and Whittards, the high street retailers, are expected to slash their prices tomorrow after entering into administration during a poor pre-Christmas trading season.
Source: Latest Business News from Times Online | 25 Dec 2008 | 4:06 pm

Vietnam and Japan sign trade pact

Japan and Vietnam sign a a free trade agreement to cut tariffs on most of the goods and services traded between them.
Source: BBC News | Business | World Edition | 25 Dec 2008 | 4:02 pm

Lean year ahead for M&A maestros

Forced sales demanded by creditors and Government-brokered transactions may provide the only consolation for bankers in what promises to be the slowest year for mergers and acquisitions since 2004. Bankers at Barclays Capital and...
Source: New Zealand Herald - Business | 25 Dec 2008 | 4:00 pm

Staying on course with no compass

Fonterra chief Andrew Ferrier says unprecedented market volatility calls for constant re-evaluation. How has the credit crunch changed your world? The sheer unpredictability of the current environment calls for a much more...
Source: New Zealand Herald - Business | 25 Dec 2008 | 4:00 pm

US lawmakers to insist on rescue fund accountability

Lawmakers are turning up the heat on banks that have received money from the Treasury Department's US$700 billion ($1.2 trillion) rescue fund after the Associated Press reported that they wouldn't say how they were using the money. Senators...
Source: New Zealand Herald - Business | 25 Dec 2008 | 4:00 pm

Shop assistants should prepare for consumer retaliation

You're hot, tired and angry with the shop assistant who has made today's trip to the Boxing Day sales a nightmare. But what you do next all depends on whether you're an avenger, an altruist or a victim of a condition called consumer...
Source: New Zealand Herald - Business | 25 Dec 2008 | 4:00 pm

Australian recession 'not inevitable', says Treasurer

Australian Federal Treasurer Wayne Swan is continuing to talk up the economy as other countries around the world slide into recession. Swan on Wednesday refused to concede that Australia was likely to follow other nations by sliding...
Source: New Zealand Herald - Business | 25 Dec 2008 | 4:00 pm