Surviving a layoff: A young man's story

A year ago, Josh Hager was in despair.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 1:47 pm

Heroes in a bad economy

From feeding needy families to saving a stranger's home from foreclosure, these people are making personal sacrifices to help others out the doom and gloom.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 1:44 pm

U.S. plan to buy toxic assets near

The Obama administration will soon unveil a program to help banks clean up their books by purchasing their bad assets, two senior administration officials told CNN.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 1:40 pm

Waiting for Obama's housing fix

As loan servicers scramble to implement President Obama's foreclosure prevention plan, the administration on Thursday unveiled a Web site to assist homeowners in determining whether they are eligible for help.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 1:35 pm

Building society concerns raised

Concern is raised over the future of Scotland's largest building society, Dunfermline, amid reports it may need government help.
Source: BBC News | Business | World Edition | 22 Mar 2009 | 1:34 pm

Your job questions answered

For Laurie Smith it was advice with that common interview question: 'What is your weakness?' 5 tips on landing the right one.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 1:10 pm

The Stockpickers: Fund manager upbeat on Hess, BHP Billiton, Taiwan Semi

Unlike other mutual-fund managers, Shawn Price doesn't choose stocks based on conversations with company executives or a hunch about an industry's prospects. Instead, he's focused on what his computer makes of a company's sales, profitability and market valuation.

Source: MarketWatch.com - Top Stories | 22 Mar 2009 | 1:06 pm

BISSELL(R) Sweeps Simple Cleaning Category with New Smart Details(TM) Line

Innovative Products Prove 'It's All in the Details' GRAND RAPIDS, Mich., March 22 /PRNewswire/ -- href="http://www.bissell.com/">BISSELL...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 1:00 pm

Stocks: A look at the week ahead

The next week -- the last full week in the quarter -- promises to be a critical one for investors looking for reasons to either resurrect the stalled rally or retreat even further.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 12:49 pm

Retailers pitch 'third way' in union fight

Read full story for latest details.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 12:43 pm

Peer demands probe into RBS claim

A Labour peer writes to UK bank watchdog the Financial Services Authority with allegations about conduct at RBS.
Source: BBC News | Business | World Edition | 22 Mar 2009 | 12:19 pm

World's cheapest car goes on sale

India's Tata Motors will launch the 100,000 rupees Nano car on Monday as it seeks to boost its own fortunes.
Source: BBC News | Business | World Edition | 22 Mar 2009 | 12:12 pm

NewsWatch: Obama tells '60 Minutes' that Geithner's job is safe

President Obama tells “60 Minutes” that Treasury Secretary Geithner’s job is safe and that Wall Street needs to appreciate the frustration on Main Street over the magnitude of executive bonuses paid by government-bailout beneficiaries during a severe economic downturn, according to a preview of the CBS show.

Source: MarketWatch.com - Top Stories | 22 Mar 2009 | 12:00 pm

As Americans Make More Coffee At Home, Starbucks (SBUX) Faces Trouble

Source: 247 Wall Street | 22 Mar 2009 | 11:54 am

China still welcomes foreign investment: minister

BEIJING (Reuters) - China's commerce minister said on Sunday that the country was still open to foreign investment after the government rejected Coca-Cola's $2.4 billion bid to buy top Chinese juice maker Huiyuan.
Source: Reuters: Business News | 22 Mar 2009 | 11:32 am

China still welcomes foreign investment: minister

BEIJING (Reuters) - China's commerce minister said on Sunday that the country was still open to foreign investment after the government rejected Coca-Cola's $2.4 billion bid to buy top...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 11:32 am

Three retailers eye union-organizing plan fair to business, labor

Three prominent retailers, seeking an alternative to proposed federal legislation that eases the way for workers to unionize, have suggested what they say will be a organizing method that would provide fairness for business and labor.

Source: MarketWatch.com - Top Stories | 22 Mar 2009 | 11:32 am

Drug industry advocates join chorus to split FDA

As momentum builds to rework the nation's food-safety system after a salmonella outbreak linked to peanuts, the drug industry is hoping for a happy side effect: faster approvals for new...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 11:13 am

China still welcomes foreign investment -minister

BEIJING, March 22 (Reuters) - China's commerce minister said on Sunday that the country was still open to foreign investment after the government rejected Coca-Cola's $2.4 billion bid to buy top Chinese...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 11:07 am

Concur Board of Directors Supports Chief Executive

REDMOND, Wash., March 22 /PRNewswire-FirstCall/ -- href="http://www.concur.com/">Concur (Nasdaq: CNQR) announced today that its Board of Directors met yesterday to review...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 11:00 am

India's Tata Motors to launch ultra-cheap Nano car

Tata Motors said it will launch its ultra-cheap Nano car in Mumbai on Monday _ a vehicle meant to herald a revolution by making it possible for the world's poor to purchase their first car.
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 10:31 am

WaMu parent sues FDIC over bank-unit sale, seeks $13 bln damages

The holding company for Washington Mutual Bank files a lawsuit, charging that the Federal Deposit Insurance Corp. improperly sold its banking operations to J.P. Morgan Chase and could have gotten more money for those assets, media reports say.

Source: MarketWatch.com - Top Stories | 22 Mar 2009 | 10:03 am

Chauffeur's dream

One man's plan to buy the world's cheapest car
Source: BBC News | Business | World Edition | 22 Mar 2009 | 8:29 am

World Trade Center site developer seeks government aid: Journal

Larry Silverstein, the private investor who is developing three towers at the World Trade Center site, is seeking government financial help with at least two of the buildings, people familiar with the matter told The Wall Street Journal.

Source: MarketWatch.com - Top Stories | 22 Mar 2009 | 8:25 am

India's Essar group may go private, delays refinery expansion

MUMBAI, March 22 (Reuters) - Indian energy-to-steel conglomerate Essar Group is planning to become totally private, and none of its group companies will be listed, two newspapers said on Sunday, quoting...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 7:33 am

Before I pop this pill, I'd like to know where it came from

Over-the-counter pain relievers such as aspirin, ibuprofen and acetaminophen are among the most commonly taken drugs in the United States. But here's a question: Where do they come from?

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

Replace or line sewer main to end root problem

Question: For several years, we've had ongoing problems with our old clay sewer main. The line has to be rooted every few months, and the cost to install a new line would be about $15,000. Why is this problem so persistent, and what, if anything, can be done to solve it without spending a fortune?

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

Connecticut attorney general does the math on AIG bonuses

Richard Blumenthal reports the insurer has paid out more than the $165 million that set off public outrage. Connecticut...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

A consumer's guide to mortgage modifications

You don't need to pay for counseling -- there's plenty of free help available. But many people in trouble won't qualify for loan breaks, even under a new U.S. subsidy program.

The loan modification business is getting such hype you'd think it was the next Batman movie. ¶ Turn on the TV or radio, or even pass a bus, and you'll be exposed to another advertisement by credit counselors, lawyers and others who offer to work miracles with a mortgage. For a fee. ¶ But you don't have to pay for counseling or legal help -- they're free, under federal programs that you support with your taxes. ¶ And yet, no matter how upbeat the commercial hype or how much free help is available, the final answer may not be welcome -- many Californians with mortgage troubles will not get a modification, even under a subsidy program the Obama administration debuted this month. ¶ But government pressure, proposed law changes and the ever-increasing burden of foreclosed housing could make loan modifications available to more homeowners as the economic crisis trudges on. ¶ Here is a consumer's guide to loan modifications: what's available, who's eligible and how to find help. ¶ It's time to rip off the mask.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

New supply of 'jumbo' financing in pipeline

Bank of America and others are stepping up the availability of high-value loans for low-risk borrowers. New money...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

A stone home with polish

The restored and expanded Mission-style house sits on a 20-acre parcel in Agoura.

A classic California Mission-style rancho home and estate in the Santa Monica Mountains above Malibu sits as an homage to a bygone era, surrounded by caves, orchards and riding and hiking trails in Agoura.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

A consumer's guide to mortgage modifications

You don't need to pay for counseling -- there's plenty of free help available. But many people in trouble won't qualify for loan breaks, even under a new U.S. subsidy program. ...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Architects see a slight increase in contracts in February

The nation's architects reported a slight uptick in business last month after hitting a historic low in January. Architectural contracts are a leading indicator of construction activity, with a lag time of about nine months to a year between the awarding of the contracts and construction spending.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

At 60 and with a high net worth, should he retire?

After 35 years on the job, a Garden Grove man is advised to delay retirement to provide for himself, his wife and a son.

After 35 years on the job, retirement is just days away for Garden Grove resident Gregory Crowell.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

Trucking toward a port-pollution solution

The Port of Los Angeles is the technology incubator for Samra's company, Balqon, which is supplying the major smog source with heavy-duty electric cargo trucks.

The gig: Founder and chief executive of one of Los Angeles' smallest publicly traded firms. Balqon Corp. is a 12-employee company that recently completed the assembly of the first in a series of heavy-duty electric trucks that will be hauling cargo at the Port of Los Angeles, the nation's busiest container port. The L.A. port has signed on for 25 trucks at a cost of $5.7 million. Samra is hoping to market the technology to railroads and others.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

Architects see a slight increase in contracts in February

The nation's architects reported a slight uptick in business last month after hitting a historic low in January. Architectural contracts are a leading indicator of construction activity, with a lag time...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

A stone home with polish

The restored and expanded Mission-style house sits on a 20-acre parcel in Agoura. A classic California Mission-style...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Easter spending expected to decline

HOLIDAYS
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Before I pop this pill, I'd like to know where it came from

Over-the-counter pain relievers such as aspirin, ibuprofen and acetaminophen are among the most commonly taken drugs in the United States. But here's a question: Where do they come from?
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Overdraft protection can be an expensive convenience

Some banks' practices maximize the charges their customers pay. The Fed is considering an opt-out provision. Don...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Easter spending expected to decline

HOLIDAYS

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

New supply of 'jumbo' financing in pipeline

Bank of America and others are stepping up the availability of high-value loans for low-risk borrowers.

New money is about to flow into an area of the real estate market that has been hardest squeezed by the credit crisis: mortgages too large to be purchased or backed by Fannie Mae, Freddie Mac or the Federal Housing Administration.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

Overdraft protection can be an expensive convenience

Some banks' practices maximize the charges their customers pay. The Fed is considering an opt-out provision.

Don Wright, 65, didn't know he was enrolled in his bank's overdraft protection plan until he overdrew his checking account by 85 cents. The transaction triggered snowballing fees that ultimately added up to more than $120.

Source: L.A. Times - Business | 22 Mar 2009 | 7:00 am

At 60 and with a high net worth, should he retire?

After 35 years on the job, a Garden Grove man is advised to delay retirement to provide for himself, his wife and a son. ...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Replace or line sewer main to end root problem

Question: For several years, we've had ongoing problems with our old clay sewer main. The line has to be rooted every few months, and the cost to install a new line would be about $15,000. Why is this...
Source: RSS feed - channel BNPaperBusiness | 22 Mar 2009 | 7:00 am

Germany: no sex please we're in recession

Times are difficult down at Berlin's Pussy Club where a new all-in service is on offer: 70 euros for girls, drinks and food. Like many of its counterparts, the brothel has been hit by...
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 5:48 am

A Statement on Credit Unions in Texas from Dick Ensweiler, President and CEO, Texas Credit Union League

Core Fact: The conservatorship of two wholesale credit unions will not have an impact on funds of credit union members - nor deposits of credit unions in their wholesale system.
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 4:27 am

SNAPSHOT - Financial Crisis - 0350 GMT

- Global economy set to shrink by 1 pct to 2 pct this year, World Bank chief Zoellick says, unprecedented since 1930s
Source: RSS feed - channel BNewsBusiness | 22 Mar 2009 | 3:56 am

Chavez cuts budget over oil price

Venezuela's Hugo Chavez announces cuts to his 2009 budget and other measures to offset falling oil revenues.
Source: BBC News | Business | World Edition | 22 Mar 2009 | 3:30 am

Major retailers push alternatives to card check (AP)

AP - Three major retailers on Saturday laid out broad details of an alternative proposal they hope will fend off a deadlock over a hotly contested bill making it easier for workers to unionize.

Source: Yahoo! News: Business | 22 Mar 2009 | 3:22 am

Obama fends off Geithner doubters

US President Barack Obama backs his embattled treasury secretary in a US TV interview, saying he would not be allowed to resign.
Source: BBC News | Business | World Edition | 22 Mar 2009 | 3:20 am

Starbucks, Costco and Whole Foods team up on labor bill

LOS ANGELES (Reuters) - Starbucks, Costco Wholesale Corp and Whole Foods Market are joining forces to propose alternatives to a bill that makes it easier for workers to unionize but is strongly opposed by U.S. corporations.
Source: Reuters: Business News | 22 Mar 2009 | 2:30 am

Weekend Dealbreaker: Now Just Simmer Down. I'm Sure It's Nothing Like It Sounds.

The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.

The outlines of the plan are expected to be unveiled this week in preparation for President Obama's first foreign summit meeting in early April.

Officials said the proposal would seek a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, whose problems could pose risks to the entire financial system.

Administration Seeks Increase in Oversight of Executive Pay [The New York Times]

Related: After The Jump

Source: Dealbreaker | 22 Mar 2009 | 1:48 am

Insurance tips for unemployed

With pink slips accelerating nationwide, health care experts say it's a good idea for everyone - even those who feel their job isn't at risk - to know about their health care rights and options.
Source: Business and financial news - CNNMoney.com | 22 Mar 2009 | 12:12 am

Energy firms demand £2bn to save wind farms

ENERGY COMPANIES have warned the government that unless they get £2 billion in “immediate” state aid several offshore wind farms will be scrapped – and this would leave Whitehall’s pollution-reduction targets in tatters.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

M&S faces new revolt over Rose

MARKS & SPENCER is facing its second investor revolt in as many years amid accusations that its boss, Sir Stuart Rose, wields too much power.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Gartmore owner bids for Barclays’ iShares arm

THE private-equity owner of UK asset manager Gartmore is leading a $5 billion ($£3.5 billion) bid for Barclays’ iShares business.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Thousand jobs in peril at Pickfords

BRITAIN’s biggest removals firm, Pickfords, could go through a controversial “pre-pack” administration, putting 1,100 jobs at risk.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Barack Obama’s $1 trillion $‘detox’

AMERICA will this week unveil plans to flush $1 trillion of toxic assets out of the country$’s financial system in President Barack Obama’s latest attempt to kick-start the economy.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Centrica turns up heat on gas firm

VENTURE PRODUCTION will open talks with Centrica this week after the owner of British Gas bought nearly a quarter of the company and said it could launch a full takeover of the North Sea’s largest independent gas producer.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Ashley tries to block JJB’s sale to rival

MIKE ASHLEY, the billionaire owner of retailer Sports Direct, is trying to scupper the sale of rival JJB’s gym-chain division – a move that could tip ailing JJB into administration in days, threatening 11,800 jobs.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Britain heads for year-long battle with deflation

BRITAIN faces a year of deflation – falling prices – that will add to the pressures on the already deteriorating public finances, analysts say. Figures on Tuesday are set to show the retail prices index (RPI) down by about 0.8% on a year ago, projections by City economists show. This will mark the start of the first period of price deflation for nearly half a century.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

The Andrew Davidson interview: John Dunford

Hands up anyone who thinks he is immune to the downturn?
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Chinese get seats on Rio committees

THE Chinese metals group Chinalco will be given seats on three key board committees of Rio Tinto as part of its controversial $19.5 billion ($£13.5 billion) investment in the group.
Source: Latest Business News from Times Online | 22 Mar 2009 | 12:00 am

Credit union victim of soured mortgage market (Reuters)

Reuters - Regulators worked on Saturday to assess troubles at the largest U.S. corporate credit union with the aim of keeping liquidity flowing through the nation's 7,800 credit unions.
Source: Yahoo! News: Business | 21 Mar 2009 | 11:41 pm

Credit union victim of soured mortgage market

KANSAS CITY (Reuters) - Regulators worked on Saturday to assess troubles at the largest U.S. corporate credit union with the aim of keeping liquidity flowing through the nation's 7,800 credit unions.
Source: Reuters: Business News | 21 Mar 2009 | 11:41 pm

RBS faces £500m loss on Cattles

RBS has as much as a £500m exposure to the doorsteplender that recently collapsed.
Source: Telegraph Finance | 21 Mar 2009 | 10:29 pm

Peter Gelardi unwraps online wedding gift venture

Peter Gelardi the man behind Wrapit the wedding gift firm that went into administration last year is attempting a surprise comeback by opening a similar online retail business.
Source: Telegraph Finance | 21 Mar 2009 | 10:29 pm

Former New Star manager Alan Miller to make comeback with new firm

Former New Star fund manager Alan Miller has teamed up with socialite Alexander SpencerChurchill to launch a wealth management firm.
Source: Telegraph Finance | 21 Mar 2009 | 10:25 pm

Private equity firms jostle for piece of Barclays' iShares

A group of private equity firms are vying for pole position in the race to snap up iShares Barclays' exchangetradedfunds business in a deal that is expected to be finalised within days.
Source: Telegraph Finance | 21 Mar 2009 | 10:24 pm

Twitter fends off predators looking for tweet rewards

The founders of Twitter are being circled by predatory investors determined to share in the booming internet blogging service.
Source: Telegraph Finance | 21 Mar 2009 | 10:23 pm

AIG bonus payments $218 million

CHICAGO (Reuters) - Documents turned over to the Connecticut attorney general show that American International Group Inc paid out over $218 million in bonuses, more than the previously disclosed $165 million, published reports said on Saturday.
Source: Reuters: Business News | 21 Mar 2009 | 10:20 pm

AIG bonuses 'higher than thought'

Documents obtained by a US offical reveal that US insurer AIG paid $53m more in bonuses than previously believed.
Source: BBC News | Business | World Edition | 21 Mar 2009 | 10:07 pm

Make your brand values work to help customers regain their confidence

I'd like to try and debunk three myths about the current recession.
Source: Telegraph Finance | 21 Mar 2009 | 9:52 pm

Treasury to unveil bank rescue bid soon (Reuters)

Reuters - The U.S. government will roll out next week a three-pronged bid to cleanse the U.S. financial system of "toxic" assets clogging banks' balance sheets, a source familiar with the plan said on Saturday.
Source: Yahoo! News: Business | 21 Mar 2009 | 9:27 pm

Treasury to unveil bank rescue bid soon

WASHINGTON (Reuters) - The U.S. government will roll out next week a three-pronged bid to cleanse the U.S. financial system of "toxic" assets clogging banks' balance sheets, a source familiar with the plan said on Saturday.
Source: Reuters: Business News | 21 Mar 2009 | 9:27 pm

'AIG tax': Feels good, but is it?

Public outrage can be a potent agent for change, but it doesn't always make for great policy.
Source: Business and financial news - CNNMoney.com | 21 Mar 2009 | 9:24 pm

Jurek Piasecki accuses PwC of thwarting his Aurum buyout

Veteran retailer Jurek Piasecki has accused PricewaterhouseCoopers of frustrating his attempts to buy Aurum - the troubled jewellery group that owns Goldsmiths Mappin ? Webb and Watches of Switzerland.
Source: Telegraph Finance | 21 Mar 2009 | 9:23 pm

Next to unveil 14pc fall in profits

Next the highstreet clothing retailer will this week unveil a fall in fullyear profits of around 14pc following a dropoff in sales brought on by the credit crisis.
Source: Telegraph Finance | 21 Mar 2009 | 9:23 pm

Economy may need further £90bn boost MPC member warns

The Government must commit to spend up to £90bn on emergency measures to prevent the unemployment crisis from permanently denting the UK economy a leading Bank of England policymaker will say this week.
Source: Telegraph Finance | 21 Mar 2009 | 9:23 pm

Can Barclays avoid being nationalised?

Amid damaging allegations over its taxavoidance schemes the bank is focusing on other problems.
Source: Telegraph Finance | 21 Mar 2009 | 9:22 pm

SportsWatch: CBS battles to maintain March Madness momentum

CBS says ratings for the first two days of the NCAA men's basketball tournament were up 2% from last year's first-round telecasts in the 56 largest U.S. television markets, as Thursday’s games posted big gains over 2008 while Friday’s matched their 2008 comparables.

Source: MarketWatch.com - Top Stories | 21 Mar 2009 | 8:19 pm

U.S. bank rescue plan could come on Monday: report

NEW YORK (Reuters) - The U.S. government will announce as soon as Monday a long-awaited plan to try to get bad assets off the books of banks, a cornerstone of its efforts to tackle the credit crisis, The Wall Street Journal reported.
Source: Reuters: Business News | 21 Mar 2009 | 8:10 pm

NewsWatch: Obama tells '60 Minutes' that Geithner's job is safe

President Obama tells “60 Minutes” that Treasury Secretary Geithner’s job is safe and that Wall Street needs to appreciate the frustration on Main Street over the magnitude of executive bonuses paid by government-bailout beneficiaries during a severe economic downturn, according to a preview of the CBS show.

Source: MarketWatch.com - Top Stories | 21 Mar 2009 | 8:00 pm

Tumbling towers could rise from the ashes

Many Auckland apartments are now selling for less than half their replacement cost and shortly around another 1000 could hit the market for a fraction of their original prices. Those apartments are in five developments - the Barclay,...
Source: New Zealand Herald - Business | 21 Mar 2009 | 7:30 pm

Home buyers will soon go cold

With just two weeks until daylight saving ends, the race is on for homeowners wanting to sell before the winter market freeze - without losing their shirt in the process. Progressively tightening bank lending criteria and rising...
Source: New Zealand Herald - Business | 21 Mar 2009 | 7:20 pm

Madoff victims line up for refunds

NEW YORK - A clearer picture is emerging of how much money might be available to pay back victims of the Bernard Madoff fraud, but while the pot is big it is nowhere near enough to repair all the damage. It includes nearly US$1...
Source: New Zealand Herald - Business | 21 Mar 2009 | 7:00 pm

Obama tells '60 Minutes' that Geithner's job is safe

President Obama tells “60 Minutes” that Treasury Secretary Geithner’s job is safe and that Wall Street needs to appreciate the frustration on Main Street over the magnitude of executive bonuses paid by government-bailout beneficiaries during a severe economic downturn, according to a preview of the CBS show.

Source: MarketWatch.com - Top Stories | 21 Mar 2009 | 6:29 pm

Questions over extra $94m in AIG bonuses

NEW HAVEN, Connecticut - The attorney general of Connecticut said overnight he was asking American International Group Inc. why documents appear to show the company paid US$53 million ($94m) more in bonuses to its financial products...
Source: New Zealand Herald - Business | 21 Mar 2009 | 6:00 pm

Washington Mutual sues FDIC for over $13 billion

NEW YORK (Reuters) - Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.
Source: Reuters: Business News | 21 Mar 2009 | 5:49 pm

Washington Mutual sues FDIC for over $13 billion (Reuters)

Reuters - Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.
Source: Yahoo! News: Business | 21 Mar 2009 | 5:49 pm

Bernard Hickey : Kiwibank's boom can't last forever

Kiwibank was the biggest mortgage lender in the December quarter, beating the big Australian banks for the first time. It lent $871 million extra in the December quarter, more than quadruple its lending the same quarter a year...
Source: New Zealand Herald - Business | 21 Mar 2009 | 5:30 pm

Thousands evacuated after Pa. acid spill: reports

A tractor-trailer carrying tons of highly corrosive acid has overturned in eastern Pennsylvania early Saturday, prompting the evacuation of thousands people from three counties, according to reports.

Source: MarketWatch.com - Top Stories | 21 Mar 2009 | 5:01 pm

Wall Street fights to protect bonus culture

NEW YORK - Wall Street executives are mounting a frantic rearguard action to protect the finance industry's bonus culture, as the US Senate moves to impose tough new pay curbs. A showdown on the issue is expected on Capitol Hill...
Source: New Zealand Herald - Business | 21 Mar 2009 | 5:00 pm

Paris prosecutor looking at BNP over Madoff: report

PARIS (Reuters) - The Paris prosecutor's office has launched a preliminary investigation to see if BNP Paribas provided misleading information about investments in a fund buying Madoff-related products, a newspaper said on Saturday.
Source: Reuters: Business News | 21 Mar 2009 | 4:56 pm

Connecticut says AIG bonus pool was $53 mln bigger than revealed

AIG paid out millions more than previously reported in bonuses to employees of its troubled financial-products unit, according to Connecticut Attorney General Richard Blumenthal.

Source: MarketWatch.com - Top Stories | 21 Mar 2009 | 4:30 pm

AIG bonus payments $218 million (Reuters)

Reuters - Documents turned over to the Connecticut attorney general show that American International Group Inc paid out over $218 million in bonuses, more than the previously disclosed $165 million, published reports said on Saturday.
Source: Yahoo! News: Business | 21 Mar 2009 | 4:06 pm

Martin Hawes : Astute investors go back to basics

The next few years will be a bear market for both shares and property. There will be cyclical rises and falls for short-term traders and speculators, but the overall pattern will see little capital gain for long-term investors. Investments...
Source: New Zealand Herald - Business | 21 Mar 2009 | 4:00 pm

Olly Newland : Safe tenancies way to prosper

Against the backdrop of the deepening international recession the New Zealand property market is set to enter a long flat stage later this year. Given that the outlook could be worse, most of my property consulting clients are...
Source: New Zealand Herald - Business | 21 Mar 2009 | 4:00 pm

Top tips : On how to get the best deals on fleet vehicles

Todd Hunter of Turners car auctions tells how to get the best deals on fleet vehicles. Should companies be reassessing their vehicle needs in this economic environment? It is vital to reassess your fleet as the needs of the...
Source: New Zealand Herald - Business | 21 Mar 2009 | 4:00 pm

'No compass'

Crisis sparks search for leadership in Europe
Source: BBC News | Business | World Edition | 21 Mar 2009 | 3:56 pm

Arun Abey: Market-watchers left in two minds

Notwithstanding the increasing severity of the global financial crisis, it is now clear that markets have over-compensated on the way down. A bubble in confidence stimulated by a boom mentality has been replaced by the depths of gloom. In...
Source: New Zealand Herald - Business | 21 Mar 2009 | 3:55 pm

Buick and Jaguar: Most reliable

General Motors' Buick brand tied with Jaguar in J.D. Power and Associates' latest vehicle dependability survey released Thursday.
Source: Business and financial news - CNNMoney.com | 21 Mar 2009 | 3:11 pm

Germany is talking to possible Opel bidders: economy minister

FRANKFURT (Reuters) - German Economy Minister Karl-Theodor zu Guttenberg said on Saturday he was talking to potential investors in troubled German carmaker Opel, rejecting a media report saying there was not yet any serious bidder.
Source: Reuters: Business News | 21 Mar 2009 | 3:02 pm

At $218 Million, AIG (AIG) Bonuses Higher Than Originally Believed

Source: 247 Wall Street | 21 Mar 2009 | 2:51 pm

Buy-out groups vie for Barclays iShares: sources

LONDON/NEW YORK (Reuters) - Private equity groups Hellman & Friedman, Bain Capital and TPG have each shown interest in the iShares unit from British bank Barclays , sources familiar with the situation said.
Source: Reuters: Business News | 21 Mar 2009 | 2:28 pm

Germany is talking to possible Opel bidders: economy minister (Reuters)

Reuters - German Economy Minister Karl-Theodor zu Guttenberg said on Saturday he was talking to potential investors in troubled German carmaker Opel, rejecting a media report saying there was not yet any serious bidder.
Source: Yahoo! News: Business | 21 Mar 2009 | 2:22 pm

Talks to save struggling van firm

Talks are held with two overseas investors in a bid to save the struggling Birmingham van maker, the government says.
Source: BBC News | Business | World Edition | 21 Mar 2009 | 1:09 pm

Treasury Plan For Buying Toxic Assets Is Complex Beyond Belief

Source: 247 Wall Street | 21 Mar 2009 | 1:02 pm

Wholesale Credit Unions Seized

Source: 247 Wall Street | 21 Mar 2009 | 12:41 pm