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Mikhail Prokhorov is Russia's richest man with 14bnRussian billionaire Mikhail Prokhorov has been named his country's richest man with a fortune of over 14bn £9.8bn.Source: Telegraph Finance | 16 Feb 2009 | 2:53 pm Russian output plummets furtherRussia's industrial output sank 16% in January from a year earlier after the sector was hit hard by the economic downturn.Source: BBC News | Business | World Edition | 16 Feb 2009 | 2:51 pm Microsoft unveils update to mobile operating systemMicrosoft Corp. on Monday trumpeted its determination to make Windows a more powerful brand in the mobile space as it unveiled a new version of its Windows Mobile operating system and launched new services including an application store to rival that of Apple’s iPhone.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 2:51 pm Meetings: The Practical Alternative to Work
Source: Business Pundit | 16 Feb 2009 | 2:49 pm Sainsbury's now cheaper than Asda for staple goods says MySupermarket.comSainsbury's has replaced Asda as the cheapest of the leading stores as the supermarket price war escalates new figures have revealed.Source: Telegraph Finance | 16 Feb 2009 | 2:45 pm US warns of Pakistan security threatIndia and Pakistan face one of the most serious security threats since the end of British as Islamist militants advance towards Islamabad, Richard Holbrooke, US special representative to Pakistan and Afghanistan, saidSource: Financial Times - US homepage | 16 Feb 2009 | 2:39 pm Lloyds hit by bonus flap as capital worries lingerShares in Lloyds Banking Group took another hit Monday amid a fresh storm over its plans to pay around 120 million pounds ($173 million) in bonuses and a report that shareholders may demand boardroom changes.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 2:38 pm Pirate Bay file-sharing defendedThe founders of a site which carries links to copies of music, films and TV programmes stand trial for copyright violation.Source: BBC News | Business | World Edition | 16 Feb 2009 | 2:33 pm GM Europe unions seek spin-off of Opel, Saab (Reuters)
Source: Yahoo! News: Business | 16 Feb 2009 | 2:33 pm GM Europe unions seek spin-off of Opel, SaabFRANKFURT (Reuters) - General Motors Corp's European labor leaders called on Monday for a spin-off of the Opel/Vauxhall brand rather than face what they called potentially fatal cost-cutting in Europe by the stricken U.S. carmaker.Source: Reuters: Business News | 16 Feb 2009 | 2:33 pm U.K. outlook gloomyShackled by a global recession, the United Kingdom's economy will only get worse in 2009, the Confederation of British Industry said Monday.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 2:32 pm Equitable Life: 'Nine out of 10 victims will get nothing from the Government'Members are 'outraged by the Prime Minister's hypocrisy' says the head of the Equitable action group.Source: Telegraph Finance | 16 Feb 2009 | 2:30 pm Palisades Federal Credit Union Announces the Launch of E-DepositPEARL RIVER, N.Y., Feb. 16 /PRNewswire-USNewswire/ -- Palisades Federal Credit Union (PFCU) announces the launch of E-Deposit. This Online Banking feature allows members to...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:26 pm Nouriel Roubini trusts Timothy Geithner to get it right on US banksNouriel Roubini can see that the 'N' word might be a little difficult for Western governments to swallow right now. But for him it's the right - indeed the only - route to follow.Source: Telegraph Finance | 16 Feb 2009 | 2:23 pm Nokia unveils media and application store, new ESeries modelsNokia Corp., the world’s largest maker of mobile phones, on Monday unveiled a series of high-end phones aimed at the business user and launched its own media and software store.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 2:23 pm Japan's economy slumps as global crisis widensTOKYO (Reuters) - Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed on Monday, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.Source: Reuters: Business News | 16 Feb 2009 | 2:21 pm States counting on their slice of $787BThough not quite as generous as first envisioned, the federal stimulus package funnels a nice chuck of change to states to help them deal with their yawning budget gaps.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 2:19 pm Aurizon Reports Encouraging Rare Earth Drilling Results at KipawaShares Listed: Toronto Stock Exchange - Ticker Symbol - ARZ NYSE Alternext U.S. - Ticker Symbol - AZK U.S. Registration: (File 001-31893) ...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:19 pm Tax Tip of the Week: Understand Your Education Benefits
Isn’t it great when your employer subsidizes your higher education? Education is a wonderful benefit if you can get it and turning in that reimbursement form may feel great, but many employees are surprised when they find at the end of the year that they have been taxed for the value of tuition reimbursements. Employees are hunkering down to save their jobs, or try to get their resumes in order in case they are victims of the wave of layoffs. Many are looking to increase their market value with more education, and that education isn’t cheap. Take an MBA for example. If you want to get an online or traditional MBA it’s going to cost a minumum of $20,000. Anything your employer reimburses over $5,250 in a calendar year is considered taxable income. Ouch. The good news is that up to $5,250 of the assistance is totally tax free so long as your employer has a written educational assistance policy in place. The assistance can be spent on tuition, fees , books, supplies, and equipment for undergraduate- or graduate-level courses and the course don’t have to be work-related. The only things you can’t use the assistance for are meals, lodging, and transportation. If your employer shells out more than $5,250, you will see the amount over this figure in Box 1 of Form W-2 and you must include it in income. The Loophole There is a way around the $5,250 threshhold, but as an employee you probably have little influence over it. Benefits paid under the working condition fringe benefit can exceed $5,250 IF the benefit is one which, had you paid for it yourself, you could deduct as an employee business expense. (If it’s something you MUST do to maintain your current job.) This type of plan is allowed by Section 132(d) of the IRS code. Your human resources department should be familiar with this and can let you know what type of plan you have. If the benefits over $5,250 also qualify as a working condition fringe benefit, your employer does not have to include them in your wages. Easing the Pain Many employers pay only a portion of the tuition. The portion of tuition you pay will probably qualify for the Lifetime Learning Credit. This credit is equal to 20% of the out of pocket expenses up to $10,000, allowing a maximum credit of $2,000. Source: Business Pundit | 16 Feb 2009 | 2:18 pm GM Europe unions seek spin-off of Opel, SaabFRANKFURT, Feb 16 (Reuters) - General Motors Corp's European labour leaders called on Monday for a spin-off of the Opel/Vauxhall brand rather than face what they called potentially fatal cost-cutting...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:18 pm Japan: Worst crisis since war's endJapan is grappling with its worst economic crisis since the end of World War II, the nation's economic and fiscal policy minister said Monday.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 2:18 pm Microsoft revamps mobile push (Reuters)
Source: Yahoo! News: Business | 16 Feb 2009 | 2:18 pm Microsoft revamps mobile pushBARCELONA (Reuters) - Microsoft said on Monday it had signed a deal with LG Electronics, under which the world's third-largest cell phone maker will use Windows software in most of its smartphones.Source: Reuters: Business News | 16 Feb 2009 | 2:18 pm Wall Street: Devil is in the detailsA lack of clear communication between the government and Wall Street last week left investors scratching their heads and dumping their stocks. The week ahead brings a chance for a rapprochement.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 2:16 pm The iPhone music makerA year ago, Ge Wang didn't own an iPhone and had no plans to start a company. Today Wang, an associate music professor at Stanford, is co-founder of Smule, a startup that sells musical applications for the iPhone.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 2:12 pm Elemica and Basware Announce Global Partnership to Enhance Electronic InvoicingAutomation of Purchase to Pay Processes Ensures Compliance & Speeds Cash Flow Cycles EXTON, Pa. and ESPOO, Finland, Feb. 16 /PRNewswire/ --Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:10 pm Mardi Gras Attracts Top Portfolio Manager Gordon 'Grant' Curtis to Moderate Alternative Investment PanelNEW YORK, Feb. 16 /PRNewswire/ -- Seasoned portfolio manager and strategist for a sub-billion Euro Family office Gordon "Grant" Curtis will highlight benefits for...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:09 pm Microsoft revamps mobile push, signs LG dealBARCELONA (Reuters) - Microsoft said on Monday it had signed a deal with LG Electronics , under which the world's third-largest cellphone maker will use Windows software in most of its...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:08 pm Dollar gains on recession worriesRead full story for latest details.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 2:06 pm NAVX and WCITIES Partner to Offer WCITIES GuidesPARIS, February 16 /PRNewswire/ -- In an effort to help travelers everywhere, NAVX and WCITIES have teamed up to distribute WCITIES guides for 100 destinations across...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:04 pm S.Africa's Netcare mulls listing UK unit in LondonJOHANNESBURG, Feb 16 (Reuters) - South African healthcare company Netcare Ltd is considering a possible London listing of its UK-based General Healthcare Group (GHG) unit, but not until at least the fourth...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:03 pm Obama to appoint panel for auto recovery (AP)
Source: Yahoo! News: Business | 16 Feb 2009 | 2:02 pm NewsWatch: Shares in Europe fall as financials pressureEuropean shares fell on Monday, pressured by losses for financials as investors continued to fret about the health of the banking sector.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 2:00 pm Filet Mignon & Shrimp Scampi Dinner for Two, $89Fleming's Prime Steakhouse & Wine Bar Introduces Its Newest 'Memorable Meal' NEWPORT BEACH, Calif., Feb. 16 /PRNewswire/ -- Fleming's Prime Steakhouse & WineSource: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:00 pm Teledata Networks Wins $16.2M Multiservice Access Network Project From ICE Costa RicaHERZLIYA, Israel, February 16 /PRNewswire-FirstCall/ -- Teledata Networks, a leading global provider of innovative Multiservice Access solutions for Next Generation...Source: RSS feed - channel BNewsBusiness | 16 Feb 2009 | 2:00 pm Lancashire's profits slump 75pc on hurricane lossesLancashire Holdings reported a 75pc slump in fullyear pretax profits on Monday after the insurer was battered by hurricane losses.Source: Telegraph Finance | 16 Feb 2009 | 1:56 pm 'Incredible' India suffers drop in tourismRead full story for latest details.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 1:49 pm ING pulls out of Formula One sponsorship dealING, the loss-making Dutch financial company, has said that it will not renew its three year sponsorship contract with Renault Formula One after this year.Source: Latest Business News from Times Online | 16 Feb 2009 | 1:45 pm Angry Mini workers hurl fruit at union leaders after job cutsAngry Mini workers pelted union leaders with fruit after 850 jobs were axed and all weekend shifts scrapped.Source: Telegraph Finance | 16 Feb 2009 | 1:43 pm Stocks to Watch: Stocks in Focus for Tuesday: Wal-Mart, Teva, Agilent, SatyamTEL AVIV (MarketWatch) -- Among the companies whose shares are expected to see active trade in Tuesday's session are Wal-Mart Stores Inc., Medtronic Inc. and Chesapeake Energy Corp. Wall Street is closed Monday for Presidents' Day.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 1:43 pm Tracking the iPhone's bubble of hypeSource: Business and financial news - CNNMoney.com | 16 Feb 2009 | 1:36 pm Oil slips despite supply talkRead full story for latest details.Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 1:32 pm Orange's top exec Swantee bets on mobile servicesIt is the question that has mobile operators around the world frowning in concentration-- how to get people to use their phones more. Not to make phone calls, but to browse the Internet, download songs or watch television.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 1:28 pm Opening Bell: 02.16.09Chavez Wins Vote To Scrap Term Limits (FT) Venezuelans have given Hugo Chavez's "Bolivarian revolution" fresh impetus after voting in favour of a referendum that will allow the socialist leader to continue running for president indefinitely. G7 Tries To Light A Flame Under Geithner's Ass (Bloomberg) "A concrete U.S. plan would have positive spillover effects on markets and economies elsewhere," said Marco Annunziata, chief economist at UniCredit MIB in London. "They are also probably hoping Geithner unveils the magic formula, which they could then also adopt." In related news (Reuters), President Obama's administration warns not to expect magic (miracles), though "there will be signs very quickly, but it's going to take time for that to show up in the statistics" says David Axelrod. Car Czar Replaced By Panel (NYT) "Mr. Bloom is known for bringing his Wall Street experience as an investment banker to an advisory role as the "in-house" banker for the steel workers' union. With the auto union locking horns with bondholders in the G.M. revamping deliberations, Mr. Bloom appears to bring credibility with both the union and the debtors. Mr. Bloom could not be reached for comment Sunday night. Another senior administration official said that Mr. Obama had considered appointing a car czar, and among those considered for the job was the private equity executive Steven Rattner. It was not clear why the administration changed course or whether Mr. Rattner would have a role on the task force." From Prisoners To Chief Executives (BBC) "Four years ago Catherine Rohr was a venture capitalist on Wall Street. Then she left her job with its six-figure salary and decided to create the Prison Entrepreneurship Program, or PEP. [...] "They don't all understand risk management as well as they should because they all got busted when they came to prison, but when it comes to execution and marketing - they get it."" BofA workers can keep Flight 1549 refunds (Charlotte Observer) 
Source: Dealbreaker | 16 Feb 2009 | 1:25 pm U.S. oil nears $38 after IEA talk of supply crunchLONDON (Reuters) - U.S. oil prices climbed toward $38 a barrel on Monday after the International Energy Agency (IEA) said there could be an oil market supply crunch from next year once global oil demand begins to recover.Source: Reuters: Business News | 16 Feb 2009 | 1:25 pm Japan's economy shrinks 3.3%Japan's economy contracted 3.3 per cent in the three months to December compared with the previous quarter, its worst performance in 35 yearsSource: Financial Times - US homepage | 16 Feb 2009 | 1:14 pm Tax Cuts Are Great, but They’re Also a Non-SequiturJohn Tamny, RealClearMarkets Seeking to boost the economy, House minority leader John Boehner wrote in a recent op-ed for USA Today that our nation’s fix lies in “fast-acting tax relief...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 1:06 pm It's time to fix the 401(k)Alicia Munnell is a Harvard-trained economist. She served as an assistant secretary of the Treasury and is regarded as one of America's foremost experts on 401(k)s. You'd think she'd be terrific at managing her own retirement, but even she has to fess up to some mistakes. "When my son got married, I took some money out of my plan to help," says Munnell, who heads Boston College's Center for Retirement Research (CRR). "And I ended up paying a 10% penalty and taxes."Source: Business and financial news - CNNMoney.com | 16 Feb 2009 | 1:05 pm No regrets over banking mergerGordon Brown says he does not regret allowing the merger between Lloyds TSB and HBOS to go ahead.Source: BBC News | Business | World Edition | 16 Feb 2009 | 12:55 pm TNT profit falls amid anger over Royal Mail dealTNT, the Dutch mail company which is the front-runner to take a stake in a part-privatised Royal Mail, unveiled a 37 per cent fall in profits today after a sharp drop in demand for its express delivery services.Source: Latest Business News from Times Online | 16 Feb 2009 | 12:53 pm Japan's economy slumps as global crisis widens (Reuters)
Source: Yahoo! News: Business | 16 Feb 2009 | 12:51 pm London Markets: Shares of Lloyds Banking Group fall again in lower LondonShares of Lloyds Banking Group fall again in London, pressuring the top share index, as investors continued to fret about the possibility of nationalization in the sector.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 12:44 pm UK and French nuclear submarines collideA Royal Navy nuclear submarine has collided with a French nuclear submarine while on operations in the mid-Atlantic, causing serious damage to both vesselsSource: Financial Times - US homepage | 16 Feb 2009 | 12:40 pm Sirius (SIRI): Firing The CEO Does NothingThe latest chess move in the game to get control of Sirius XM (SIRI) is that the creditors are threatening to fire CEO Mel Karmazin if he takes the company into Chapter 11. The Wall Street Journal...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 12:38 pm Currencies: Dollar, yen boosted by global economic worriesThe Japanese yen and the U.S. dollar pushed higher Monday, after worries about global economic turmoil were reinforced by the weekend Group of Seven meeting and a steep fourth-quarter contraction in Japan’s gross domestic product.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 12:30 pm Europe Markets: Shares in Europe fall as financials pressureEuropean shares fell on Monday, pressured by losses for financials as investors continued to fret about the health of the banking sector.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 12:28 pm Nokia (NOK) Goes After Apple (AAPL), MaybeNokia (NOK) is starting a software store for its handsets. According to MarketWatch, it will be “an online bazaar that will allow users to buy music or films as well as applications directly...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 12:18 pm Israel Stocks: Market steady for 2nd day; Teva report is awaitedTEL AVIV (MarketWatch) -- Israel stocks were steady for a second day on Monday, led by weakness in Israel Chemicals and oil producer Isramco and with Teva Pharmaceutical up for an eighth trading day out of 11 this month.Source: MarketWatch.com - Top Stories | 16 Feb 2009 | 12:05 pm In Japanese GDP, A Foreshadowing For The US?The US economy has a number of advantages over Japan. While Japan counts heavily on exports for its GDP growth, the US middle class consumes a great deal of what is produced in America. Much of the...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 11:50 am Oil up on 'supply crunch' warningOil prices rise after the International Energy Agency says there could be supply shortages next year once demand picks up.Source: BBC News | Business | World Edition | 16 Feb 2009 | 11:41 am Lloyds rebounds as state-ownership fears recedeShares in Lloyds Banking Group rebounded in mid-morning trading today as fears that the lender may be fully nationalised receded after last week's shock disclosure that losses at HBOS would reach £10 billion.Source: Latest Business News from Times Online | 16 Feb 2009 | 11:39 am Economic crisis takes its toll on Russian oligarchsThe number of Russian billionaires was cut to 49 from 101 in 2008 by the global downturn, according to a report.Source: BBC News | Business | World Edition | 16 Feb 2009 | 11:38 am Nationalize This!!The advocates for nationalizing US banks have been out in force recently. Senator Lindsay Graham, who almost certainly does not have a PhD in economics or finance, told ABC News that banks were in...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 11:31 am European stocks drop (AFP)
Source: Yahoo! News: Stock Markets News | 16 Feb 2009 | 11:31 am Lloyds shares under pressure after HBOS lossesShares in the bank remain under pressure after revelation of HBOS losses.Source: Telegraph Finance | 16 Feb 2009 | 11:10 am KFC to create 9,000 jobs in UK expansion driveKentucky Fried Chicken (KFC) has said that it plans to open between 200 and 300 new restaurants creating 9,000 jobs in the UK and Ireland in the next three to five years.Source: Latest Business News from Times Online | 16 Feb 2009 | 10:52 am Dollar benefits as global economic woes intensifyThe dollar rose to a two-month high on Monday as Japanese economic data stoked fears over the health of the global economy and fuelled safe haven demand for the US currency.Source: Financial Times - US homepage | 16 Feb 2009 | 10:52 am Find the right fund with our new research centreThe new Telegraph Fund Centre Plus lets you check the performance of thousands of funds such as unit and investment trusts at the click of a mouse.Source: Telegraph Finance | 16 Feb 2009 | 10:51 am 850 jobs go at Mini car factoryBMW confirms 850 jobs are to go at the Cowley car plant, which makes the Mini, as weekend working is scrapped.Source: BBC News | Business | World Edition | 16 Feb 2009 | 10:47 am Asian markets fall as Japan's recession deepensFourth-quarter data show the world's second-biggest economy shrank 3.3 percent from the previous quarter. HONG...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 10:46 am Financials drag Europe lowerEurope's shares lost further ground on Monday as investors failed to be reassured by the weekend's Group of Seven meeting, and Japan's economy contracted at the fastest rate in 35 years. Trading volumes...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 10:42 am L&G stock dives over possible capital raisingShares in Legal & General (L&G) fell as much 30 per cent in early trading today on growing fears it will be forced to cut its dividend or raise capital if it is forced to write down the value of its £18 billion corporate bond portfolio.Source: Latest Business News from Times Online | 16 Feb 2009 | 10:38 am BMW to shed 850 jobs at Mini plantGerman carmaker confirms that 850 jobs will be cut and operating times shortened at its Mini manufacturing plant at Cowley in Oxfordshire in response to the global recessionSource: Financial Times - US homepage | 16 Feb 2009 | 10:22 am BMW announces 850 job losses at Mini car plantUnion warns "tens of thousands" more British motor industry jobs at risk as BMW cuts 850 staff in Cowley.Source: Telegraph Finance | 16 Feb 2009 | 10:16 am Asian markets fall as Japan's recession deepens (AP)
Source: Yahoo! News: Stock Markets News | 16 Feb 2009 | 10:04 am Japanese finance minister blames 'drunken' speech on cold medicineThe finance minister of Japan Shoichi Nakagawa denied claims he had been drunk at a G7 news conference in Rome saying he had taken a large amount of cold medicine.Source: Telegraph Finance | 16 Feb 2009 | 10:01 am China papers bask in G7 praise, pillory "Buy American"BEIJING (Reuters) - Chinese official media on Monday welcomed the relatively mild line on the yuan currency from a G7 meeting as vindication for its policies, while continuing to pillory "Buy American" provisions in U.S. rescue plans.Source: Reuters: Business News | 16 Feb 2009 | 9:55 am Japan's contraction weighs on Asian marketsNews of Japan's biggest economic contraction for 35 years sent stock markets lower across most of Asia Pacific on Monday. The Nikkei in Tokyo dropped 0.4 per cent, South Korean shares dropped 1.4 per cent...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 9:52 am Media Digest 2/16/2009 Reuters, WSJ, NYTimes, FT, BloombergAccording to Reuters, Obama has dropped the idea of appointing a “car czar”. Reuters reports that Japan’s GDP is dropping at an annual rate of over 13%. Reuters reports that the...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 9:51 am China warns against protectionismChina warns against protectionist measures by other countries, amid fears such action could aggravate the economic slump.Source: BBC News | Business | World Edition | 16 Feb 2009 | 9:41 am KFC to create 9,000 new UK jobsFast food chain KFC is creating 9,000 new jobs as part of a £150m investment scheme over the next three to five years.Source: BBC News | Business | World Edition | 16 Feb 2009 | 9:40 am Indian fiscal deficit set to riseIndia's acting finance minister says India's fiscal deficit will be much higher than previously forecast.Source: BBC News | Business | World Edition | 16 Feb 2009 | 9:32 am 5 Facts About President’s Day
Need to know more about President’s Day? Check out these 5 facts that will help you figure out its origin, what’s closed, and what President’s Day is all about: 5. What’s closed: Post offices 4. First made official to celebrate George Washington’s birthday, the holiday is officially called “Washington’s Birthday.” In the late 1970s, it was unofficially adapted to celebrate all presidents. Nixon declared that the holiday should take place on the third Monday in February. As a result, many people call the holiday “President’s Day.” George Washington’s actual birthday is on February 22. 3. Some states have different celebrations for President’s Day. Alexandria, VA celebrates a tribute to presidents for an entire month. Arkansas also holds Daisy Gatson Bates day on President’s Day (Bates was a civil rights leader). The state of New Mexico observes President’s Day on the Friday after Thanksgiving. 2. This year, George Washington turns 277 years old. Source: Business Pundit | 16 Feb 2009 | 9:30 am Asia Markets And Europe Open 2/16/2009Markets in Asia were mixed. The Nikkei fell .4% to 7,750. The Hang Seng dropped .7% to 13,456. The Shanghai Composite rose 3% to 2,389. At the open in Europe, the FTSE was down .6%. The Dax dropped...[[ This is a content summary only. Visit my website for full links, other content, and more! ]] Source: 247 Wall Street | 16 Feb 2009 | 9:25 am Troubled banks keep FTSE under pressureLondon's financial sector remained in turmoil on Monday, after the previous session's fast and unyielding sell-off following Lloyds Banking Group's surprise warning of 10bn losses at its HBOS unit. The...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:55 am Chinese firm to buy Oz MineralsChinese firm Minmetals offeres to buy debt-laden Australian miner Oz Minerals for 2.6bn Australian dollars ($1.7bn, £1.2bn).Source: BBC News | Business | World Edition | 16 Feb 2009 | 8:21 am India warns of growing fiscal deficitIndia is suspending its fiscal deficit targets as it battles to overcome the effects of the global financial crisis and protect high economic growth rates through higher spendingSource: Financial Times - US homepage | 16 Feb 2009 | 8:08 am Management guru offers tough advice for troubling timesRam Charan says firms must be willing to make drastic changes quickly, including cutting jobs and capacity. What...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:00 am Alleged Madoff victims may be vulnerable to other victims' claimsThose who profited before suffering losses -- including retirees and charities -- could be hit with demands to give back cash in a settlement. ...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:00 am 'Friday the 13th' brings good fortuneThe slasher flick, 'He's Just Not That Into You' and 'Taken' lead a record-setting Presidents Day weekend. In...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:00 am Investors to seek fresh clues about the economyThe stock market doesn't have much to hang its hat on.Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:00 am GM's past and present collide in sibling rivalryThe sharply styled, highly promoted Malibu is outsold by the similar-sized but simple, uninspired Impala. Which one will survive the struggling automaker's restructuring? ...Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:00 am Getting certified as a 'green' companyDear Karen: Recently you mentioned building a green network. Is there an authority that certifies a company as "green"?Source: RSS feed - channel BNPaperBusiness | 16 Feb 2009 | 8:00 am Fisher & Paykel hasn't asked for Government help, says KeyFisher & Paykel has not been offered government assistance and has not asked for it, Prime Minister John Key said today after talking to the company's chief executive. Mr Key said at his post-cabinet press conference he called...Source: New Zealand Herald - Business | 16 Feb 2009 | 7:55 am Sirius creditors threaten to oust CEO: report(Reuters) - A group of Sirius XM Radio Inc creditors will seek to remove Chief Executive Mel Karmazin if the company chooses a bankruptcy filing over a deal with an investor that would let it stay solvent, the Wall Street Journal said.Source: Reuters: Business News | 16 Feb 2009 | 7:34 am Australian stocks: Market closes 1pc lowerSYDNEY - The Australian share market closed more than one per cent lower following falls in the resources sector and losses on Wall Street on Friday. At 1615 AEDT, the benchmark S&P/ASX200 was down 42.2 points, or 1.19 per cent,...Source: New Zealand Herald - Business | 16 Feb 2009 | 7:18 am BMW to cut 850 jobs at Oxford Mini plantBMW, the German vehicle maker, today announced plans to lay off 850 weekend agency staff at its Mini factory in Cowley, near Oxford, as the slowdown in demand for cars worsens.Source: Latest Business News from Times Online | 16 Feb 2009 | 7:16 am Obama drops "car czar" ideaCHICAGO (Reuters) - President Barack Obama has decided to launch a government task force for restructuring the struggling U.S. auto industry instead of naming a "car czar" with sweeping powers, a senior administration official said on Sunday.Source: Reuters: Business News | 16 Feb 2009 | 6:41 am Qantas to expand A380 service to UK, USSYDNEY - Qantas will increase its Airbus A380 superjumbo services from Australia to the UK and US from June. The additional services will follow the delivery of Qantas' fourth A380 in May. Qantas said it would increase its A380...Source: New Zealand Herald - Business | 16 Feb 2009 | 6:30 am Obama drops "car czar" idea (Reuters)
Source: Yahoo! News: Business | 16 Feb 2009 | 6:30 am NZ stocks: F&P plunge leads to bad day on marketInvestors took flight today when iconic New Zealand manufacturer Fisher & Paykel Appliances said it was looking for a cornerstone investor and downgraded its profit forecast. That was not the only bad news. Highly regarded courier...Source: New Zealand Herald - Business | 16 Feb 2009 | 6:24 am Chavez wins vote to scrap term limitsVenezuelans have given Hugo Chavez's "Bolivarian revolution" fresh impetus after voting in favour of a referendum that will allow the socialist leader to continue running for president indefinitelySource: Financial Times - US homepage | 16 Feb 2009 | 6:02 am Merrill to move most work from Satyam to TCS: reportMUMBAI (Reuters) - Merrill Lynch is shifting a majority of its contracts from troubled Indian software firm Satyam Computer Services Ltd to rival Tata Consultancy Services , the Economic Times reported on Monday.Source: Reuters: Business News | 16 Feb 2009 | 5:58 am Currency: Dollar edges down in the gloomThe New Zealand dollar fell today in the face of unrelenting gloom about the global economy. Comments from a Group of Seven finance ministers meeting were pessimistic, stock markets were weak and Japan said its economy shrank 3.3...Source: New Zealand Herald - Business | 16 Feb 2009 | 5:37 am Tech Stars' Pet PeevesThe world is full of technologies that the most influential people in tech could hate—like nuclear weapons, dental drills, and Microsoft Vista. But they are most frustrated by electrical wires."What an archaic way of doing things!" says John Yemma, editor of the Christian Science Monitor, a newspaper taking the lead in shutting down its printing presses and going all-electronic. "Bury wires inside of a wall, run them to an outlet, and then snake a cord around the room. Lamps should not have to be static. TVs shouldn't be locked down." Here at Condé Nast Portfolio, we pulled together a list of 25 people who, through technology, are having an outsized impact on their industries. As part of that effort, we asked those who made the list a series of questions, including "What tech product frustrates you the most?" and "What do you wish someone would invent?" Unexpectedly, many of the answers revolved not around the woeful lack of Jetsons-style flying cars and robotic maids, but around electricity and power cords. David Bohrman, the CNN executive responsible for advances such as the "teleporting" of Will.I.Am into the studio on election night, wants someone to invent wireless electricity. Jon Wellinghof, President Obama's new chief of the Federal Energy Regulatory Commission, wants someone to invent a portable energy storage technology (which most of us would call a "battery") that can improve at the same pace as information storage devices like hard drives. "Most of our current energy problems would be solved with such a device," he says. Google Vice President Marissa Mayer at least wants a universal power cord so we don't have to carry a different one for every single gadget we own. Other than the common gripe about electricity, answers were all over the map except for this trend: Responders are frustrated by the mundane but get all whimsical about what they want someone to invent. Jeffrey Katzenberg, who runs DreamWorks Animation, can't stand "that a keyboard is still the best way to get something (into) my computer." Joe Rospars, the Obama campaign's Internet wizard, is most frustrated by clocks; Bohrman, by TV remotes. Jason Kilar, CEO of Hulu, hates "the first 45 seconds after turning on my computer," and wishes for a PC that turns on instantly. Reid Hoffman, CEO of LinkedIn, is most aggravated by Microsoft Outlook. Going against the public's love affair with the iPhone, Twitter CEO Evan Williams declared it to be the tech product he finds most frustrating. But what do these great thinkers want invented? Katzenberg: "A 26-hour day." Rospars: "A cure for cynicism." Kilar: "Teleportation—preferably by Toyota, given its historically low defect rates." (Maybe Kilar should talk to Bohrman....) From Ray Ozzie, Microsoft's chief software architect: "I dream of technology that can effectively aid in delivering a real sense of empathy among people." Sites like Facebook and Twitter are "an amazing foundation" because they connect people, but he's hoping for something bigger. He didn't share specifics—like whether there's some kind of world peace technology brewing inside Microsoft Research. Oh, and we asked about Facebook friends. Rospars said he had 977; Williams, 483; Kilar, 159 and Yemma, 112. Wellinghoff confessed that his teenage kids won't let him join. And the dogs do eat their own dog food, as they say. LinkedIn CEO Hoffman has 1,810 LinkedIn connections. Twitter's Williams has about 85,000 Twitter followers.Related Links Last Bytes: Apple Happenings Google to Microsoft: Game On Last Bytes: Facebook, Adobe, more Source: Portfolio.com: Top 5 | 16 Feb 2009 | 5:00 am Obama drops idea of 'car czar'President Barack Obama has decided to form a government task force to oversee the restructuring of the struggling US auto industry instead of naming a ``car czar'' with sweeping powersSource: Financial Times - US homepage | 16 Feb 2009 | 4:43 am Market slams Fisher and Paykel on profit warningThe share market has come down hard on Fisher & Paykel Appliances - with its shares falling 40 per cent fter the company issued a profit warning today. The whiteware manufacturer's shares, which were worth $2.94 this time last...Source: New Zealand Herald - Business | 16 Feb 2009 | 4:30 am Japanese economy suffers worst decline in 35 yearsJapan suffered its biggest ever plunge in exports between October and December as Asia’s largest economy recorded its third consecutive quarter of contraction – the worst decline in 35 years.Source: Latest Business News from Times Online | 16 Feb 2009 | 4:17 am Freightways profits rise, revenue up 10pcFreight and logistics company Freightways says its latest profits shows the resilience of its business model, though the impact of the recession is hard to predict. Revenue for the six months ended December 31 was up 10 per cent,...Source: New Zealand Herald - Business | 16 Feb 2009 | 4:00 am Arnie tries to save cash-strapped California's budget bailoutSACRAMENTO, California - Governor Arnold Schwarzenegger has tried to salvage a proposal to close California's $42 billion deficit after an all-night legislative session failed to produce a new budget. The governor and legislative...Source: New Zealand Herald - Business | 16 Feb 2009 | 3:30 am White House dampens stimulus expectationsWASHINGTON (Reuters)- President Barack Obama's aides warned Americans on Sunday not to expect instant miracles from the $787 billion economic stimulus bill he will sign this week, but said it would help eventually.Source: Reuters: Business News | 16 Feb 2009 | 3:10 am Japan's economy 'worst in 35 years'Japan's economy shrank 3.3 per cent in the fourth quarter, the biggest drop since 1974, as exports and factory output slumped. It provides further confirmation that the world's second-biggest economy is in a severe recession, Reuters...Source: New Zealand Herald - Business | 16 Feb 2009 | 2:45 am Hard times at Royal Bank of ScotlandThe financially strapped Royal Bank of Scotland is considering a cost-cutting program that could reduce its workforce by 20,000 people, UK newspaper the Sunday Times reports. The bank, partially nationalised in the fallout from...Source: New Zealand Herald - Business | 16 Feb 2009 | 2:30 am Need to know: Michelin falls... Royal Doulton bid... Metronet reportView video and Need to Know interactive heatmapSource: Latest Business News from Times Online | 16 Feb 2009 | 12:13 am Companies cut ties with risky customersErnst & Young's report shows that turmoil is on a global scale as important clients are taking longer to pay and many have also gone into bankruptcy as a result of the downturnSource: Financial Times - US homepage | 16 Feb 2009 | 12:07 am Rich Chinese fly in to buy bargain homes in USChina's economy may be cooling rapidly, but that doesn't mean that Beijing's super-rich are feeling the pinch. On the contrary, many see the global downturn as a chance to buy a bargain - wherever it might be. That's why a group of them will be setting off this month for a shopping spree in the United States.Source: Latest Business News from Times Online | 16 Feb 2009 | 12:00 am Food for thought: Brian Viner, The Goring and WaitroseOK, where is everybody?Source: Latest Business News from Times Online | 16 Feb 2009 | 12:00 am Total says oil output near peakEurope's third largest energy group has revised its prediction downward of oil production in 2015 as a result of the global economic crisis and the falling prices for crudeSource: Financial Times - US homepage | 15 Feb 2009 | 11:37 pm Wall Street might search for motivation this week (AP)
Source: Yahoo! News: Stock Markets News | 15 Feb 2009 | 10:04 pm
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