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Who got AIG's bailout billions? (Reuters)
Source: Yahoo! News: Business | 8 Mar 2009 | 12:30 pm Who got AIG's bailout billions?NEW YORK (Reuters) - Where, oh where, did AIG's bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published.Source: Reuters: Business News | 8 Mar 2009 | 12:30 pm With Most Large Company CEO Options Underwater, They Should Not Be Repriced
Should the options be repriced at lower levels? No. Most company stock prices owe a great deal of their rise in value to the bull market. This drove up the valuations of CEO options. Now management and boards want to avoid sharing in the devaluation of their shares due, in part, to the incredible market sell-off. Also, who is going to reset the value of the stock that all the shareholders in these companies paid cash for? Douglas A. McIntyre       Source: 247 Wall Street | 8 Mar 2009 | 12:28 pm Recession on track to be longest in postwar periodFactory jobs disappeared. Inflation soared. Unemployment climbed to alarming levels. The hungry lined up at soup kitchens. It wasn't the Great Depression. It was the 1981-82 recession,...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 12:10 pm China May Wade Into Western Car Market
China has already put money into huge metals and mining company Rio Tinto (RTP). The government is also beginning to lock up oil reserves by providing capital to national oil companies around the world for drilling and recovering crude . According toThe Asia Times, China signed a $10 billion “loan-for-oil” deal with Petrobras that guarantees China up to 160,000 barrels a day at market prices. Now, it appears that China wants to be a major player in the global automotive industry. It may be prepared to finance the buy-out of Volvo, a division of Ford (F). The Times is reportingthe Chinese car firm Geely may purchase the car company that was originally based in Sweden. It may take a number of years for worldwide light vehicle sales to recover to their 2006 levels. But, if China can acquire enough brands and manufacturing assets in the West and acquire them inexpensively, it may be in a better position to benefit from a recovery that any of the US or European-based firms. Douglas A. McIntyre Tagged: F      Source: 247 Wall Street | 8 Mar 2009 | 12:07 pm Workers losing jobs to be offered counselling for 'recession depression'Workers who lose their jobs as a result of the economic slump are being offered counselling for 'recession depression' it has emerged.Source: Telegraph Finance | 8 Mar 2009 | 12:05 pm Two soldiers killed in N Ireland attackTwo British soldiers were killed in a gun attack on an army base in Northern Ireland in a worrying throwback to the worst days of the province's political unrestSource: Financial Times - US homepage | 8 Mar 2009 | 11:57 am 'No nationalisation plans'The UK government says it still has no plans to nationalise the banking sector, despite increasing its stake in Lloyds.Source: BBC News | Business | World Edition | 8 Mar 2009 | 11:48 am 'No alternative' to mail sell-offThe plan to part-privatise Royal Mail is the "last throw of the dice" to secure its future, says Lord Mandelson.Source: BBC News | Business | World Edition | 8 Mar 2009 | 10:36 am Sinopec unit gets $336 mln subsidy for refining lossBEIJING, March 8 (Reuters) - Sinopec Shanghai Petrochemical Co received over 2.3 billion yuan ($336 million) in subsidy from China in 2008 to help offset refining losses caused by low state-set fuel...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 9:56 am Roche chairman optimistic on Genentech deal-paperZURICH, March 8 (Reuters) - Swiss drugmaker Roche Holding AG is optimistic its raised bid for U.S. biotech company Genentech will succeed, Swiss Sunday newspaper Sonntagszeitung quoted Roche's chairman...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 9:49 am Roche chairman optimistic on Genentech deal-paperZURICH, March 8 (Reuters) - Swiss drugmaker Roche Holding AG is optimistic its raised bid for U.S. biotech company Genentech will succeed, Swiss Sunday newspaper Sonntagszeitung quoted Roche's chairman...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 9:49 am Wilting flowersZambian rose exports hit by the global downturnSource: BBC News | Business | World Edition | 8 Mar 2009 | 9:30 am QE2's Dubai owners: No plans to sell cruise shipThe Dubai developer that bought the QE2 says it remains committed to renovating the British cruise ship. State-owned Nakheel has been hounded by press and blog speculation that it may...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 9:14 am India's Sterlite buys Asarco for $1.7bnIndia's Sterlite Industries will acquire the operating assets of bankrupt US copper miner Asarco for $1.7bn, nearly $1bn less than the price it had agreed in November last yearSource: Financial Times - US homepage | 8 Mar 2009 | 8:53 am Sterlite in new pact to acquire copper miner Asarco for $1.7 blnSterlite Industries (India) Ltd. signed a new agreement to acquire the assets of Asarco LLC, the No. 3 U.S. copper miner, for $1.7 billion of cash and notes.Source: MarketWatch.com - Top Stories | 8 Mar 2009 | 8:17 am How long should financial records be kept?Dear Liz: Since tax filing season is upon us, it's a good time to get rid of statements and records we don't need. How long should we keep such things as tax records, credit card statements, mortgage payment statements, utility bills, etc?Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am File your tax returns free or for a fee? How to decideYour choices depend on your income, the complexity of your situation and how good you are at following directions.There are many ways to file your annual income tax return -- more than ever this year, in fact. But virtually all of them have a cost or catch. The best way for you to file is going to depend on your income, the complexity of your situation and how good you are at following directions. Your options: Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am Before Broadcom, he led team that built WindowsThe gig: President and chief executive of Broadcom Corp., the Irvine semiconductor company that supplied more than a billion chips last year for cellphones, set-top boxes, televisions, computers and the Nintendo Wii. Broadcom made $215 million in profit last year on nearly $4.7 billion in revenue.Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am A HAPN could help reduce mortgage paymentsFinancial engineers are developing the instrument, which would let a home buyer sell rights to future appreciation to an investor who is also willing to absorb losses should the home's value decline.Would you give away a large portion of any future increase in the value of your house in return for a sizable cash infusion, an amount large enough, perhaps, to cut your monthly payments substantially? Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am New law creates tax break hide-and-seekA slew of deductions and credits could save you thousands of dollars. Use 'em or lose 'em.Michael and Kathy Hale are losers in America's new, and often vexing, game of tax break hide-and-seek. Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am Talk isn't cheap? For cellphone users, not talking is costly tooA study shows many customers pay for much more time than they useIf you're like most cellphone users, you probably think you're paying less than 10 cents per minute for calls. Think again. Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am Timing can land you a cheaper airfareWant to fly for less? Don't grab the first cheap ticket you see or wait until the last minute to buy, fare experts say.Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am A G.W. Smith classic in Montecito enters the 21st centuryThis 1922 Spanish Colonial Revival, carefully restored, now has all the benefits of an ultra-modern home.George Washington Smith, widely regarded as the founder of the Spanish Colonial Revival style, designed scores of houses in and around Santa Barbara during an architectural career that lasted only a dozen years before his death in 1930. Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am It's a renter's market, but there are pitfallsApartment hunters can avoid headaches by doing their homework. First-time landlords pose new problems.As you get ready to move out of Mom and Dad's, some upfront leg work could save you many a headache. Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am Taking charge of credit cardsRe: David Lazarus' consumer column, " Time to hold credit card issuers to account ," March 4:Source: L.A. Times - Business | 8 Mar 2009 | 8:00 am A G.W. Smith classic in Montecito enters the 21st centuryThis 1922 Spanish Colonial Revival, carefully restored, now has all the benefits of an ultra-modern home. George...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am File your tax returns free or for a fee? How to decideYour choices depend on your income, the complexity of your situation and how good you are at following directions. There are many ways...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am New law creates tax break hide-and-seekA slew of deductions and credits could save you thousands of dollars. Use 'em or lose 'em. Michael and Kathy Hale...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am Talk isn't cheap? For cellphone users, not talking is costly tooA study shows many customers pay for much more time than they use If you're like most cellphone users, you probably...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am It's a renter's market, but there are pitfallsApartment hunters can avoid headaches by doing their homework. First-time landlords pose new problems. As you...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am Before Broadcom, he led team that built WindowsThe gig: President and chief executive of Broadcom Corp., the Irvine semiconductor company that supplied more than a billion chips last year for cellphones, set-top boxes, televisions, computers and the...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am How long should financial records be kept?Dear Liz: Since tax filing season is upon us, it's a good time to get rid of statements and records we don't need. How long should we keep such things as tax records, credit card statements, mortgage...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am Taking charge of credit cardsRe: David Lazarus' consumer column, " Time to hold credit card issuers to account ," March 4:Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am Timing can land you a cheaper airfareWant to fly for less? Don't grab the first cheap ticket you see or wait until the last minute to buy, fare experts say.Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am A HAPN could help reduce mortgage paymentsFinancial engineers are developing the instrument, which would let a home buyer sell rights to future appreciation to an investor who is also willing to absorb losses should the home's value decline...Source: RSS feed - channel BNPaperBusiness | 8 Mar 2009 | 8:00 am India mobile market defies gloomAmidst all the economic gloom, one business is still booming -- India's mobile phones -- thanks to the world's lowest call rates driven by fierce competition among cellular operators,...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 7:18 am Alaska Airlines and pilots near 4-year labor agreementAlaska Airlines and the union representing its pilots agreed in principle on a four-year contract, the two sides said in statements on Saturday.Source: MarketWatch.com - Top Stories | 8 Mar 2009 | 7:07 am Wall Street: Ripe for a rally?With little in the way of earnings or market-moving economic news on tap this week, stocks will continue to take a cue from the financial sector as investors try to see if the latest levels can hold.Source: Business and financial news - CNNMoney.com | 8 Mar 2009 | 5:15 am Key global bankers' meeting reportedRead full story for latest details.Source: Business and financial news - CNNMoney.com | 8 Mar 2009 | 5:13 am From boom to bust: Baltic 'Tigers' face lean timesAbandoned fashion shops, closed nightclubs, 'For Rent' signs everywhere along upscale Krishjana Barona Street in the Latvian capital, all stark signs that the Baltic state's heady years of...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 4:10 am GM's woes could cut off credit to suppliersDozens of automotive suppliers could lose their credit lines or end up in loan default because auditors voiced "substantial doubt" about General Motors' ability to stay afloat, industry...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 4:09 am Business groups slam German nationalisation billA draft law allowing Germany to nationalise banks by seizing investors' shares, debated Friday in parliament, could damage the country's reputation as a place to invest, business groups...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 4:09 am Economic Preview: Retail sales expected to be down on weak autosConsumer spending (or the lack of) has been at the heart of this recession. Spending fell at the fastest pace in a generation in the final six months of 2008. So it was something of a shock to see retail sales rise a healthy 1% in January.Source: MarketWatch.com - Top Stories | 8 Mar 2009 | 4:01 am German car scrapping bonus revs upA German bonus for scrapping old cars to boost the auto market has lit a fire under domestic sales, with just a few voices dissenting amid general acclaim for the result. "So far it can...Source: RSS feed - channel BNewsBusiness | 8 Mar 2009 | 3:41 am Six on unemploymentIn the hard times of 2009, readers tell their stories of making ends meet on $300 a week.Source: Business and financial news - CNNMoney.com | 8 Mar 2009 | 3:17 am World's biggest banks to meet in LondonTOKYO (Reuters) - Chief executives of leading Japanese, European and U.S. banks will meet in London to discuss the future of the financial system, the Nikkei newspaper reported, as the global financial crisis prompts a barrage of new regulatory proposals for the sector.Source: Reuters: Business News | 8 Mar 2009 | 1:47 am Next exit: The Bernanke interchangeThe exit ramp that Ben Bernanke was looking for Saturday had only a little to do with getting the U.S. economy back on the road to recovery.Source: Business and financial news - CNNMoney.com | 8 Mar 2009 | 12:02 am Fun and games for Henry EngelhardtYou can’t buy an easy week in the market these days. Henry Engelhardt, boss of Admiral, shot up to London on Tuesday to announce sparkling results for his insurance firm. By Thursday his sector was in free-fall. His response? “Aw, screw it,” he says in his broad Chicago accent. “But we’ll be up again, you watch. We’re just caught in the downdraught of others.”Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Bank injection means we are all monetarists nowMany surprises have rained down on us over the past 18 months, mostly unpleasant. But among the seismic shifts in response to these shocks has been in Britain’s monetary policy.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Carphone attacks regulator over BT chargesCARPHONE WAREHOUSE has launched a stinging attack on telecoms regulator Ofcom’s proposals to allow BT to raise the amount it charges broadband providers to rent capacity on its local network of copper wires.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Cinema sees off the slumpWATCHMEN opened this weekend and I am dreading dragging my sorry ass to the cinema. The 160-minute epic of flawed, depressive superheroes in a world falling into darkness has received some miserable reviews.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Bank braced for losses over plan to print moneyTHE Bank of England expects to lose money on the £150 billion quantitative-easing scheme it unveiled last week.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Chinese firm interested in VolvoTHE Chinese firm that part-owns the manufacturer of London’s black cabs is preparing a bid for troubled Swedish carmaker Volvo.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Vince Cable: Unmask all big earnersVINCE CABLE, the Liberal Democrat deputy leader, added fuel to the fire over fat-cat pay this weekend by demanding companies publish the pay packages for their highest-paid employees as well as directors.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Rescue plan for North Sea jobsTHE government is finalising the terms of a rescue package for North Sea oil firms amid warnings that more than half the companies in the sector will fail this year and put tens of thousands out of work.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Retailers’ fury over business rates riseBRITAIN’s biggest retailers are heading for a showdown with chancellor Alistair Darling about plans to raise business rates next month by more than £1 billion. They claim the move will tip struggling companies into insolvency and cost thousands of jobs.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am Lloyds primed for 1980s slumpTHE newly-formed Lloyds Banking Group is being prepared to survive a 1980s-style U-shaped recession, one of the worst periods the British economy has suffered since the first world war.Source: Latest Business News from Times Online | 8 Mar 2009 | 12:00 am City trader in £85 million 'loss' inquiry pledges to stay in BritainA currency trader at the centre of an inquiry into alleged losses of £85 million has told friends he will stay in Britain while an investigation is carried out.Source: Telegraph Finance | 7 Mar 2009 | 11:55 pm Obama: Ending economic crisis won't be easyPresident Obama told Americans on Saturday that ending the economic crisis will not be "easy," but the nation will emerge "more prosperous" through swift and bold actions.Source: Business and financial news - CNNMoney.com | 7 Mar 2009 | 11:05 pm BNP and Belgium revise Fortis carve-up deal again (Reuters)Reuters - The Belgian government and France's biggest bank, BNP Paribas , have agreed revised terms for the break-up of stricken financial group Fortis in a third attempt to push the deal through.Source: Yahoo! News: Business | 7 Mar 2009 | 10:37 pm BNP and Belgium revise Fortis carve-up deal againBRUSSELS (Reuters) - The Belgian government and France's biggest bank, BNP Paribas , have agreed revised terms for the break-up of stricken financial group Fortis in a third attempt to push the deal through.Source: Reuters: Business News | 7 Mar 2009 | 10:37 pm GM warns of bankruptcy impactSource: Telegraph Finance | 7 Mar 2009 | 10:19 pm The black horse is now a lame duckMark Kleinman doubts that Eric Daniels will enjoy the sight of anyone riding off into the sunset.Source: Telegraph Finance | 7 Mar 2009 | 9:49 pm Lloyds duo cling on as taxpayer takes overSir Victor Blank and Eric Daniels sign deal that could result in the taxpayer owning more than 75pc of Lloyds.Source: Telegraph Finance | 7 Mar 2009 | 9:42 pm UKFI seals bonus dealLloyds Banking Group is to pay out about £80m in cash bonuses to staff under an agreement with UK Financial Investments UKFI the Treasury body which is poised to become its majority shareholder.Source: Telegraph Finance | 7 Mar 2009 | 9:40 pm Treasury blocks Bank of England chairMinisters have blocked the appointment of a senior City figure because of his association with the financial services industry.Source: Telegraph Finance | 7 Mar 2009 | 9:32 pm HSBC boss faces up to subprime messStephen Green chairman of HSBC exlplains why its £12.5bn rights issue was 'not something we had to do' despite the sizeable discountSource: Telegraph Finance | 7 Mar 2009 | 9:04 pm Still too much risk for a stake in Old MutualSource: Telegraph Finance | 7 Mar 2009 | 9:02 pm Much trouble in store if the Government ignores retail's distress signalsAll businesses are equal but some are more equal than others. That appears to be the message that the Government is transmitting at the moment.Source: Telegraph Finance | 7 Mar 2009 | 9:00 pm NewsWatch: Stocks facing uphill battle; budget, retail sales loomU.S. stock investors have little to look forward to in the week ahead, when Washington budget maneuverings and the unfolding saga of some of America's largest companies are likely to vie with retail-sales data and a handful of corporate earnings.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 9:00 pm John Dvorak's Second Opinion: Microsoft business model is overEconomic conditions and the emergence of powerful, inexpensive computing has to make people rethink Microsoft's costly software.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 8:28 pm Bernanke: Fed will use all tools at its disposal (Reuters)Reuters - Federal Reserve Chairman Ben Bernanke said on Saturday the U.S. central bank would use all of its tools to stabilize financial markets and pull the economy out of recession.Source: Yahoo! News: Business | 7 Mar 2009 | 8:17 pm Bernanke: Fed will use all tools at its disposalWASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Saturday the U.S. central bank would use all of its tools to stabilize financial markets and pull the economy out of recession.Source: Reuters: Business News | 7 Mar 2009 | 8:17 pm Outside the Box: Obama as entrepreneur-in-chief?President Obama's operating style shows him to be a consummate entrepreneur.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 8:15 pm Madoff expected to plead guiltyThe stage is set for Bernard L. Madoff to plead guilty to defrauding thousands of investors out of billions of dollars in what is widely believed to be the biggest investment fraud in history.Source: Business and financial news - CNNMoney.com | 7 Mar 2009 | 7:23 pm Tsvangirai's wife killed in car crashZimbabwe's prime minister Morgan Tsvangirai was flown to neighbouring Botswana on Saturday to recover from a car crash that injured him and killed his wife, a source from his MDC party said.Source: Financial Times - US homepage | 7 Mar 2009 | 6:31 pm Revealed: 15 AIG bailout counterpartiesDonald Kohn, vice chairman of the Federal Reserve, learned this week about blackmail, Senate style, when he refused to disclose the names of financial institutions benefiting from the bailout of American International Group.Source: Business and financial news - CNNMoney.com | 7 Mar 2009 | 6:28 pm Lloyds control 'to boost lending'The government's controlling stake in Lloyds is a vital step to get banks lending, the chancellor says, but the opposition is wary.Source: BBC News | Business | World Edition | 7 Mar 2009 | 6:19 pm U.K. reportedly to increase stake in Lloyds, insure assetsLloyds and the U.K. government reportedly reach an agreement in which the government’s stake in the financial giant could increase to as much as 77% in exchange for its insuring up to $365 billion of the bank’s risky assets.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 5:44 pm Obama, Republicans spar on health care after summitPresident Obama urges fast action on health-care reforms, even as the opposition Republican Party voices concerns about what a new health system would look like.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 5:36 pm US officials find 'common ground' in SyriaThe United States wants to see 'forward momentum' on peace talks between Syria and Israel and believes Syria could help Middle East stability, a US official said after high-level talks in DamascusSource: Financial Times - US homepage | 7 Mar 2009 | 5:12 pm US jobless figure is worst for 25 yearsPresident Barack Obama warned that the US needed to act "swiftly and boldly" to tackle the recession which has propelled unemployment to its highest rate in a quarter of a centurySource: Financial Times - US homepage | 7 Mar 2009 | 4:19 pm House party back on - for lucky fewWith another official cash rate cut expected next week, experienced and less-seasoned property investors are looking at the housing market and seeing more reasons to buy. And conditions will only improve. BNZ chief economist Tony...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm Work chic gives hand upCutthroat competition in the contracting job market has ramped up pressure on Dress for Success, a charity helping low-income women into the workforce by providing interview-appropriate clothing. It has seen a significant increase...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm Direct flights boost Wairarapa's wine tourismAuckland is now just a short flight away from the Wairarapa's world-class wineries, thanks to the launch of a new Air New Zealand route. The direct service between Masterton and Auckland operates six days a week, with fares from...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm Bernard Hickey : Avoiding bad bondsInvestors rushing into corporate bonds for higher returns should ask their advisor 10 key questions. What is the bond's credit rating? A BBB- or higher rating from Standard & Poor's is judged to be investment grade. Ratings...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm Martin Hawes : Banking on a guaranteeThe government guarantee of the deposits of banks and some finance companies lasts until October 12 next year. Mascot's demise this week brings an important question into focus: what will happen when the guarantee period ends? Many...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm NewsWatch: Stocks facing uphill battle; budget, retail sales loomU.S. stock investors have little to look forward to in the week ahead, when Washington budget maneuverings and the unfolding saga of some of America's largest companies are likely to vie with retail-sales data and a handful of corporate earnings.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 4:00 pm Wendyl Nissen: Corporates keen to try emperor's new clothesIs the latest recession simply another case of Y2K? I've been pondering this question, which I conveniently posed to myself at 4am last week when I couldn't find any other sources of stress to mull over at the time I usually do. I...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm The joke's on ewe, mateDairy fever and drought may have ravaged our sheep industry, but it will take more than halving the national flock to deliver us from sheep gags. A story this week in the Brisbane Times warned "time's running out for 'those'...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm Top tips: On healthy sales during a recessionSales and marketing specialist John Lees says positive aggression will create healthy sales during a recession. What do you mean when you use the term "positive aggression"? Positive aggression involves fighting back and taking...Source: New Zealand Herald - Business | 7 Mar 2009 | 4:00 pm Auto Review: 2009 Volkswagen Jetta TDI: AwesomeThe six-speed manual snicks through the gears aided by a light and responsive clutch as the Jetta rolls quickly up the entrance ramp on a sunny spring-like day, never once making noises that would let on that it’s a diesel. Then the Jetta warrior surprises in two ways.Source: MarketWatch.com - Top Stories | 7 Mar 2009 | 4:00 pm Pipe dream comes trueIf you'd asked Colin Leach a couple of years ago whether he'd be leading a global corporation headquartered in Brussels - employing 16,000 people across 45 countries and turning over 2.5 billion ($6.2 billion) - he'd have said it...Source: New Zealand Herald - Business | 7 Mar 2009 | 3:59 pm Anthony Doesburg: Software goliath has devotees in design worldIf the visible face of the internet belongs to three software companies, two of them are reasonably obvious. Microsoft provides the operating system and browser with which most people view the web, while Google's search engine...Source: New Zealand Herald - Business | 7 Mar 2009 | 3:55 pm Swiss minister rejects U.S. demand for UBS data: reportZURICH (Reuters) - Switzerland rejects U.S. demands that the country's largest bank UBS should hand over the data of 52,000 U.S. clients, Swiss newspaper Berner Zeitung quoted the Swiss justice minister as saying on Saturday.Source: Reuters: Business News | 7 Mar 2009 | 3:33 pm Goldman, others get AIG payouts: reportNEW YORK (Reuters) - Such firms as Goldman Sachs Group Inc and Morgan Stanley were among the financial institutions that received payouts from American International Group Inc since the Federal Reserve first began to aid AIG, according to the Wall Street Journal.Source: Reuters: Business News | 7 Mar 2009 | 3:05 pm Britain may get 77 percent Lloyds stake in asset deal (Reuters)Reuters - Britain will get a stake of up to 77 percent in Lloyds Banking Group after agreeing a deal to underwrite 260 billion pounds ($370 billion) of risky assets, the struggling bank said on Saturday.Source: Yahoo! News: Business | 7 Mar 2009 | 2:55 pm Britain may get 77 percent Lloyds stake in asset dealLONDON (Reuters) - Britain will get a stake of up to 77 percent in Lloyds Banking Group after agreeing a deal to underwrite 260 billion pounds ($370 billion) of risky assets, the struggling bank said on Saturday.Source: Reuters: Business News | 7 Mar 2009 | 2:55 pm Merkel says Opel rescue plan must be improvedBERLIN (Reuters) - German Chancellor Angela Merkel said on Saturday that General Motors must improve the rescue plan for its German unit Opel if it wants government support for the struggling carmaker.Source: Reuters: Business News | 7 Mar 2009 | 1:23 pm Palestinian prime minister resignsPalestinian Prime Minister Salam Fayyad said he intended to resign by the end of March in a move that could help bolster unity talks between the rival Fatah and Hamas factionsSource: Financial Times - US homepage | 7 Mar 2009 | 1:13 pm Madoff expected to plead guilty to fraud chargesNEW YORK (Reuters) - Bernard Madoff, accused mastermind of a $50 billion investment fraud, is expected to plead guilty to criminal charges next week, three months after his arrest shocked his customers worldwide.Source: Reuters: Business News | 7 Mar 2009 | 1:02 pm The Ingenious Rescue Of Lloyds
According to the AP, the government will back about $360 billion in toxic assets at the bank. But, the arrangement goes much further than that. In exchange the safety net the UK will own 65% of Lloyds. And, the AP reports ”As a condition of the deal, the bank promised to increase lending by 28 billion pounds ($39 billion) over the next two years, the majority to businesses. “ The US bank bailouts lack an important feature. They do not put a specific and irrevocable dollar amount of their investment in big financial firms which must be put back into the economy. The American system may save a bank, but that does not necessarily force capital to businesses and consumers who need money which in turn should help rebuild the lifeline of credit which in necessary to create jobs and consumer spending. The Lloyds deal is probably as good a model for reviving the credit system as any. Douglas A. McIntyre       Source: 247 Wall Street | 7 Mar 2009 | 12:53 pm Washington plans for big bank failureThe government is bracing for a big bank failure.Source: Business and financial news - CNNMoney.com | 7 Mar 2009 | 12:45 pm
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China can afford to play a long-term game in its competition with Western governments and the industries that are considered strategic to their economies.
The “Best Financial Firm Rescue of the Year Award” goes to the British government for its new bailout of Lloyds. The program both saves the bank and insures that much of the money put into it by the UK will go directly to businesses that need capital to stay viable or expand.