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Obama aide won't rule out more money for bailoutsWASHINGTON (Reuters) - President Barack Obama's top economic adviser would not rule out on Sunday that more money may be needed to stabilize the financial system as a deep recession increases banks' losses.Source: Reuters: Business News | 25 Jan 2009 | 4:09 pm Obama pushes stimulus plan, meets economic teamWASHINGTON (Reuters) - President Barack Obama sought to build public support on Saturday for an $825 billion economic recovery plan, pledging in his weekly radio address to use the funds to create jobs, improve healthcare and expand renewable energy.Source: Reuters: Business News | 25 Jan 2009 | 4:08 pm Travellers win big in downturnOne sure bet in the turbulent airline sector, for the first part of this year at least, is that passengers will be the big winners. Aviation experts say the uncertainty airlines face is unprecedented but in New Zealand at least...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Tasman flights get super-size boostFrom next Monday Emirates Airline's latest plane will make its super-size presence in Auckland. The airline's Airbus A380 - the biggest passenger plane in the world - begins a three times a week service to Sydney. Because it...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Obama signals tougher approach on bailoutPresident Barack Obama has signalled he will toughen restrictions on and oversight of banks as part of a fresh plan to aid the battered industry. Obama blasted the banks at the weekend over reports that they've spent money renovating...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Owen Hembry: Free trade best hope of getting throughInternational trade could be key to dragging the global economy out of recession. Boosting trade could help companies make more profit and so encourage them to invest. Employers could start thinking about hiring staff rather...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Hopes regatta will blow away recession's gloomRetailers and tourism businesses are hoping to capitalise on an influx of visitors expected in Auckland over the next few weeks for the Louis Vuitton Pacific Series. The sailing regatta was announced in September last year in a...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Reserve Bank fixes on risk factors in new rules for finance companiesThe Reserve Bank is taking a tough approach in its new role as prudential regulator for finance companies, proposing stringent new rules requiring firms to bolster their balance sheets and moving to unwind excessive related party...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Chrysler head backs recoveryNEW ORLEANS - A Chrysler executive says the vehicle maker should be viable by springtime because of its restructuring, introduction of new and improved vehicles, and higher sales due to loosened credit and sweetened incentives for...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Business experts volunteer to help workersBRISBANE - The Queensland Government has appointed a group of 16 leading business sector experts to help guide workers in the state's main job industries through the economic crisis. The 16-strong group, called the Jobs Squad,...Source: New Zealand Herald - Business | 25 Jan 2009 | 4:00 pm Corus set to cut 2,000 jobs in UKSteelmaker Corus is expected to cut 3,500 jobs worldwide, including 2,000 in the UK, the BBC understands.Source: BBC News | Business | World Edition | 25 Jan 2009 | 3:56 pm Deborah Hill Cone: No end to this war of all mothersThe mommy wars are back and - hate to break it to you, ladies - we can't win. France's Justice Minister, a plucky broad called Rachida Dati, was internationally bolloqued for returning to work five days after having a baby. French...Source: New Zealand Herald - Business | 25 Jan 2009 | 3:55 pm Gill South: Tough times just the right time for CFOs to show their worthAs some of the biggest names in the banking world wobbled last year, the chances are that some voters chose John Key partly because they thought his finance background would come in handy in the hot seat. Mind you, George W. Bush's...Source: New Zealand Herald - Business | 25 Jan 2009 | 3:55 pm Kuwaiti firm forms ventures with Russia's GazpromKuwaiti state news says an investment firm in the Persian Gulf oil producer is forming a pair of joint venture companies with Russia's Gazprom. Kuwait News Agency says Noor Financial...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 3:25 pm Obama aide won't rule out more money for bailouts (Reuters)
Source: Yahoo! News: Business | 25 Jan 2009 | 3:24 pm Shareholder vows to help Bioton get new fundsWARSAW, Jan 25 (Reuters) - The largest shareholder of troubled insulin maker Bioton vowed to help it get 50 million zlotys ($14.8 million) in financing by the end of this year, Bioton said in a statement...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 3:23 pm Credit Suisse reported buying back some Lehman fundsCredit Suisse confirms it has bought about $87 million worth of its clients’ securities issued by bankrupt Lehman Brothers.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 3:18 pm Economic Preview: Economy in free fall in fourth quarterThe U.S. economy is expected to show violent contraction in the fourth quarter, with gross domestic product falling at its fastest pace in more than 25 years.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 2:23 pm Here comes 'terrible'Investors this week will face the largest batch of company report cards yet, in what is quickly shaping up to be the worst quarter for corporate profits in a decade.Source: Business and financial news - CNNMoney.com | 25 Jan 2009 | 2:17 pm NewsWatch: Markets focus on earnings, bank-rescue planThe market will begin the peak period for quarterly earnings reports next week, as evidence grows that the economic pain is being felt across an ever-broadening range of industries.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 2:00 pm Planning: She's aggressive, he's a chickenThere are certain things that Charlie and Sandy Hicks love to do together - like ski, hunt and hike with their two sons near their Livermore, Colo. home. Then there are things the Hickses hate to do as a couple - like invest their money.Source: Business and financial news - CNNMoney.com | 25 Jan 2009 | 1:55 pm Mr. President...We've got a planCrack down on credit-card companies. Help small businesses. Everyday Americans tell Barack Obama how they'd save the economy.Source: Business and financial news - CNNMoney.com | 25 Jan 2009 | 1:51 pm India's Singh to recover soon after heart surgeryManmohan Singh, India's prime minister, was in intensive care on Sunday recovering from a 12-hour quintuple heart by-pass surgery, with doctors predicting a full recovery from the weekend operation in time for the leader to campaign in upcoming general electionsSource: Financial Times - US homepage | 25 Jan 2009 | 1:36 pm Report: Steel maker Corus to cut 3,500 jobsCorus, Europe's second-largest steel producer, is to cut 3,500 jobs at its British operations, a newspaper reported Sunday. The company would not comment on the report in the Sunday...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 1:11 pm CEO of Eni says oil price bumps unprecedentedThe head of the Italian oil company Eni SpA said Sunday that the turbulence in oil prices is unprecedented and is "extremely bad news" for the industry. Paolo Scaroni, CEO of Eni, told aSource: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 1:04 pm Nissan chief Ghosn: Auto makers in defensive modeThe head of one of the world's largest car companies said Sunday that auto manufacturers are going to be in defensive mode for the next couple of years as they cope with the economic...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 12:58 pm UPDATE 1-Petrofac wins $2.3 bln Abu Dhabi contractLONDON, Jan 25 (Reuters) - Oil & gas company Petrofac said on Sunday it had won a $2.3 billion contract from Abu Dhabi Company for Onshore Oil Operations for the development of the onshore Asab oil...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 12:53 pm Elbit Imaging Ltd. Announces Dismissal of a Purported Class ActionTEL AVIV, Israel, January 25 /PRNewswire-FirstCall/ -- Elbit Imaging Ltd. ("EI") (NASDAQ: EMITF), announced today that the District Court of Haifa has ...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 12:43 pm Petrofac wins $2.3 bln Abu Dhabi contractLONDON, Jan 25 (Reuters) - Oil & gas company Petrofac has won a $2.3 billion contract from Abu Dhabi Company for the development of the onshore Asab oil field. (Reporting by Ben Deighton, editing...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 12:34 pm Hartmarx, century-old clothier, files to reorganize in Chapter 11Hartmarx Corp., the Chicago parent of prominent apparel brands like Hart Schaffner Marx, Hickey-Freeman and many others, said late on Friday that it filed to reorganize under Chapter 11 of federal bankruptcy law.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 12:25 pm Iceland's commerce minister resignsIceland's Minister of Commerce resigned his post on Sunday, citing the pressures of the island nation's economic collapse. Bjorgvin Sigurdsson told reporters he had quit and had also...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 12:24 pm US Car Companies Get Arrogant
Their predictions are flawed because they speak to the industry's ability to control costs, and, in some cases, use government funds to tide them over. The forecasts neglect a full analysis of what happens if the recession gets much deeper. According to Reuters, Ford (F) says it will not need any federal loans at all. The car firm thinks the Obama stimulus package will put the overall economy on a better track by the second half of the year. That forecast ignores that fact that the program may not even be voted into law before March. At Chrysler, management says the firm will be "viable" by spring due to cost cuts and a better model line. The comments about how well Detroit can do ignore the reality that US vehicles sales may drop below 10 million in 2009. Most of the plans presented to Congress by The Big Three assume total units sold for the year at a number closer to 12 million. A two million vehicle deficit could pull another $50 billion in revenue out of the American market leaving all of the auto companies doing business in the US facing worse sales short-falls than they had last year. The government is still facing putting tens of billion of dollars into Detroit to keep it afloat in 2009 and perhaps 2010. But, at this point, no one in the Motor City wants to say that in public.. Douglas A. McIntyre Source: 24/7 Wall St. | 25 Jan 2009 | 12:18 pm Pelosi signals willingness to add to TARP fundsWASHINGTON (Reuters) - U.S. House Speaker Nancy Pelosi said on Sunday the federal government may need to pump more taxpayer funds into the faltering banking system and that taxpayers should receive equity as compensation.Source: Reuters: Business News | 25 Jan 2009 | 12:03 pm Pelosi signals willingness to add to TARP funds (Reuters)
Source: Yahoo! News: Business | 25 Jan 2009 | 12:03 pm Gas dispute may spur plans for Balkan pipelineBUDAPEST, Jan 25 (Reuters) - The gas dispute between Russia and Ukraine has given fresh impetus to plans to build a pipeline through Turkey and the Balkans, bringing Central Asian gas to Western Europe...Source: RSS feed - channel BNewsBusiness | 25 Jan 2009 | 11:54 am First Centennial of Redlands, Calif., is 3rd bank to fail in '09First Centennial Bank of Redlands, Calif., was seized by the Federal Deposit Insurance Corp. and state regulators on Friday.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 10:42 am Recovery 'to take years' - ClarkeThe UK's economic recovery is likely to take several years, shadow business secretary Ken Clarke has said.Source: BBC News | Business | World Edition | 25 Jan 2009 | 10:33 am India detains 2 Price Waterhouse partners in Satyam caseIndian police on Saturday detained for questioning two partners from the consulting firm Price Waterhouse in connection with the fraud case at Satyam Computer Services Ltd., news reports say.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 9:09 am Earnings Outlook: AT&T, Verizon keep heads above waterAT&T Inc. and Verizon Communications Inc. are weathering the recession better than most U.S. companies, but both phone giants could show some nicks and cuts in the coming days as they report quarterly results.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 9:00 am Hamas demands open bordersHamas will not consider renewing its ceasefire with Israel unless the Jewish state agrees to open fully its borders with the Gaza Strip, according to a senior official from the Palestinian militant groupSource: Financial Times - US homepage | 25 Jan 2009 | 8:56 am Moral of the Madoff scandal: Check out financial advisorsFew investment mistakes can be as crippling to your long-term wealth as entrusting your nest egg to a crook. Even...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Man, what a bargainWhat could be more macho than stalking thrift stores for deals on designer clothing? It cost me $44.93 to look...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Congress may make $7,500 home buyer tax credit more attractiveFew consumers have tried to claim the credit because it had to be repaid over 15 years. But there's a good chance that they could be relieved of the repayment requirement. ...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Tax scams: deductions you want to avoidNew schemes pop up each year as April 15 looms. Here's the EZ form on some frauds, mainly online, that are easy to spot and delete. ...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Change in credit card terms makes sweet interest rate sourHere's another reason it's wise to pay off your balance each month. Dear Liz: A couple of years back, I transferred a $6,000 balance to...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am An oceanfront gemOceanfront gem Location: 31091 S. Coast Highway, Laguna Beach 92651Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Consumer columnist becomes victim of ID theftWithin an hour of the theft of his credit cards and driver's license, bogus purchases were being made or attempted at stores throughout the L.A. area. ...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Architect built his career from the ground upRob Jernigan of international architecture firm Gensler has a passion for construction. Even as a manager, he yearns to be where the action is. ...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Laguna Beach luxury with a Ferrari thrown inNo expense was spared on the $2.5-million renovation of this oceanfront contemporary. When Rosanne and Dennis...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Aluminum wiring poses risks to home and saleQuestion: My home was built around 1970 and the electrical wiring is aluminum. I've never noticed any of the danger signs commonly associated with aluminum wire, such as warm face plates on outlets and...Source: RSS feed - channel BNPaperBusiness | 25 Jan 2009 | 8:00 am Pfizer bid for Wyeth could top $65 billion -- reportPfizer Inc. reportedly is close to an agreement to acquire rival drug maker Wyeth for between $65 billion and $70 billion in a cash-and-stock deal that could be announced as early as next week,Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 4:22 am Obama pushes stimulus plan, meets economic team (Reuters)
Source: Yahoo! News: Business | 25 Jan 2009 | 1:17 am Starbucks may cut 1,000 more jobs: reportLOS ANGELES (Reuters) - Coffee chain Starbucks Corp could cut another 1,000 jobs in the coming weeks, according to a report in the Seattle Times on Saturday.Source: Reuters: Business News | 25 Jan 2009 | 1:14 am Say goodbye to McMansions, homes are getting 'right-sized'These days, a bigger home isn’t always a better one: Recent research suggests that homes being built today are getting smaller.Source: MarketWatch.com - Top Stories | 25 Jan 2009 | 1:14 am Obama plans fast action on financial regulation: report (Reuters)
Source: Yahoo! News: Business | 25 Jan 2009 | 12:45 am Ford does not need U.S. government loans: CEONEW ORLEANS (Reuters) - Ford Motor Co has enough liquidity to fund its restructuring plan and despite the deep downturn in auto sales still sees no need to ask for government loans, Chief Executive Alan Mulally said on Saturday.Source: Reuters: Business News | 25 Jan 2009 | 12:42 am Cineworld focuses on 3D screen dealBRITAIN’s only quoted cinema group, Cineworld, is close to a deal that will double the number of its screens that can show 3D films in an attempt to capitalise on the format’s growing popularity.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am Crisis at Barclays is an issue of credibilityMARCUS AGIUS, chairman of Barclays, his chief executive, John Varley, and Bob Diamond, the head of Barclays Capital, are off to Davos this week to discuss affairs with world leaders. They leave behind a share price that is being kicked around like a football and a sense of panic that their bank is heading for nationalisation. Clearly world affairs, some intellectual sparring, clean mountain air and hosting a dinner are more important.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am Severn Barrage plans revealedENERGY secretary Ed Miliband will unveil five proposals tomorrow for the Severn Barrage, the controversial tidal scheme that could become the country’s biggest source of renewable energy.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am RBS to purge directors in big shake-upROYAL BANK OF SCOTLAND is preparing a boardroom clearout to purge the company of directors linked with the reign of Sir Fred Goodwin, its former chief executive.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am MPs probe bank auditorsTHE government was under pressure last night to investigate the role of auditors in the collapse of British banks, after a Sunday Times investigation into fees paid to the “big four” accountancy firms.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am Rates must head down to zero, says MPC memberDAVID “DANNY” BLANCHFLOWER, the member of the Bank of England’s monetary policy committee (MPC) who consistently warned of the danger of recession, believes UK interest rates should “obviously” head down to America’s near-zero level.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am Ladbrokes bets on a stake Down UnderBOOKMAKER Ladbrokes plans to break into the lucrative Australian market by bidding for a monopoly licence to run betting in the state of Victoria.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am The Bank's professor who got his sums rightWhen David “Danny ” Blanchflower was appointed to the Bank of England’s monetary policy committee (MPC) nearly three years ago, there was surprise.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am Firms chase more capitalCOMMERCIAL premises provider Workspace is among a slew of companies preparing to tap the markets for additional capital in the coming weeks.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am Madoff’s UK investors set to sueUK investors are planning legal action against HSBC, UBS, Barclays and Nicola Horlick’s Bramdean fund over advice received before the Bernard Madoff $50 billion ($£36.8 billion) investment scandal.Source: Latest Business News from Times Online | 25 Jan 2009 | 12:00 am NewsWatch: Markets focus on earnings, bank-rescue planThe market will begin the peak period for quarterly earnings reports next week, as evidence grows that the economic pain is being felt across an ever-broadening range of industries.Source: MarketWatch.com - Top Stories | 24 Jan 2009 | 10:00 pm Lehman's Japan real estate assets now on sale: reportCHICAGO (Reuters) - Bidding began on Lehman Brothers Holdings Inc's real-estate assets in Japan over the past week, The Wall Street Journal reported on Saturday, citing people familiar with the matter.Source: Reuters: Business News | 24 Jan 2009 | 9:20 pm 'Swift' tax relief? Don't bank on itCongress is racing to pass a giant bill to stimulate the economy. But a key piece of it may be a little slower in coming than many people expect.Source: Business and financial news - CNNMoney.com | 24 Jan 2009 | 9:16 pm Chrysler sees viability even at weak U.S. auto salesNEW ORLEANS (Reuters) - Chrysler LLC sees U.S. industry auto sales in 2009 at the low end of prevailing expectations but its turnaround plan is aimed at achieving "viability" even at that sales level, executives said on Saturday.Source: Reuters: Business News | 24 Jan 2009 | 9:13 pm Starbucks may cut 1,000 more jobs: report (Reuters)
Source: Yahoo! News: Business | 24 Jan 2009 | 8:26 pm Obama sets out health and energy goalsBarack Obama voiced confidence that his proposed fiscal stimulus would be agreed by mid-February as renewed turmoil in the financial markets highlighted the worsening global economic outlookSource: Financial Times - US homepage | 24 Jan 2009 | 5:45 pm Schaeffler names new Continental chairman, CFO resignsHANOVER, Germany (Reuters) - German bearings maker Schaeffler named a new chairman for auto parts and tire maker Continental on Saturday and the tire company said its chief financial officer was also stepping down.Source: Reuters: Business News | 24 Jan 2009 | 4:59 pm John Thain and the curse of being No. 2Even before the revelations of the undisclosed massive losses, the early payment of billions of dollars in bonuses, and the delicious $87,000 rug, John Thain's days at Bank of America working for Ken Lewis were clearly numbered.Source: Business and financial news - CNNMoney.com | 24 Jan 2009 | 4:30 pm Two PWC staff arrested over Satyam: Indian policeNEW DELHI (Reuters) - Two officials at PricewaterhouseCoopers, the auditors of fraud-hit Satyam Computer Services accounts, have been arrested by the Andhra Pradesh state police, a senior police official said on Saturday.Source: Reuters: Business News | 24 Jan 2009 | 3:40 pm Obama issues US recovery pledgeUS President Barack Obama says his administration will be held accountable for his economic recovery plan.Source: BBC News | Business | World Edition | 24 Jan 2009 | 3:33 pm
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