3 Ways Investors Can Navigate This Market (On the Street)

This week the heart of the first quarter earnings season starts to report its numbers. While the results during the next few weeks are widely expected to be dismal — at the conclusion it should be the seventh consecutive quarter of negative earnings growth — many investors are looking for signs in the corporate releases that show this 12-week period represents the low point in the economic downturn. The thinking goes that once it’s in the rear view mirror, the stock market will hopefully resume an upward trajectory.

Investors have already seen glimpses of that. The Dow Jones Industrial Average gained 22% during a four week period that started at the March 9 bottom of 6547 and cooled off shortly before Alcoa (AA) announced its results last week, traditionally the start of earnings reporting. Along the way there have been streaks of triple-digit trading days that made headlines but not a lot of money for most long-term investors. The end result of that volatility adds up to little in a stock market that seems like it can’t sustain a rally — at least for now.

For long-term investors, big swings don’t equal big gains, especially when fast-money hedge funds drive the action, profiting from moves on volatile stocks with prices that bear no relationship to their earnings fundamentals. Nevertheless, fund managers are making changes to their portfolios in this tricky environment, whether it’s to play certain broad trends, profit a little on the margins of a long-term strategy or because they are setting themselves up for what they believe will be a rebound later this year and in 2010. These are three different approaches, and you can easily follow them, too, even if your investment horizon is ten years out not ten minutes.

The day-to-day volatility will certainly continue this week as the banking sector releases its results. Even a change in mark-to-market accounting rules won’t prevent these firms from posting miserable results. The inevitable knee jerk reaction will be to sell. Indeed, J.P. Morgan (JPM) equity strategist Thomas Lee believes trading activity without solid fundamentals will keep the benchmark S&P 500 stock index between 750 and 1100 until the housing and financial sectors bottom out and stabilize. “We still think a final low is ahead of us,” he wrote recently.

Charlie Mercer, manager of the Aston/Veredus Select Growth Fund (AVSGX), points out that throughout 2008, the market has endured 28 one-day swings of 4% or more. Between 1945 and 2007, he says, the S&P had 49. That’s “the type of volatility we see in frontier and emerging markets,” he says. “Not the biggest, most developed market in the world.”

“That creates a different environment, and what you do depends on your appetite not so much for risk taking, but more about your desire to trade in a trader’s market,” he says. That’s not for everyone, particularly small investors who can’t be as nimble as professional traders. “The volatility bubble won’t last forever, and being long in it at this stage of the game is a very risky bet.”

We asked Mercer and two other managers with long term perspectives how they were playing this market. Of course, we got three different answers.

Mercer remains cautious about earnings, but he does see positive signs in how some sectors are performing. “Earnings are not good,” he says, adding that conventional wisdom predicts nine consecutive quarters of negative growth will come to an end in the third quarter of 2009. “But there are some sectors where estimates have simply been too low.”

Technology has traditionally done well coming out of downturns as investors flock to stocks that have big growth potentials. That trend is playing out in a big way in 2009. Through last week, Lipper says the average technology fund returned 9.2% in 2009 vs. a 7% loss for S&P 500 index funds. Mercer says semiconductor stocks like Qualcomm (QCOM), Broadcom (BRCM) and Intel (INTC) have been oversold.

He’s also looking at low-end dining chains like Darden Restaurants (DRI), Chipotle Mexican Grill (CMGB) and Panera Bread (PNRA) as a way to play the cash-strapped consumer angle. These stocks have outperformed this year albeit against extremely low expectations.

“The market is priced for near Armageddon,” he says. “People simply got too negative with those industries.”

One option for long-term investors is to develop a keen short game, says David James, portfolio manager and senior vice president at James Advantage Funds, a mutual fund company based outside of Dayton, Ohio. James says investors should lower their overall stock allocation but shoulder a bit more risk with small sums of cash. “It’s more of a counterpuncher situation,” he says. “Remember not to fall in love with your stocks – you’re looking to buy them and hold them for a period of time, and enjoy a portion of the rally.”

James Balanced: Golden Rainbow (GLRBX), the firm’s $533 million flagship fund, currently splits its assets between bonds (42%), stocks (33%) and a large cash position. Top equity holdings as of its last filing date include Hess (HES), IBM (IBM) and Western Digital (WDC). The fund holds the top spot in its Morningstar peer group over the last decade and only lost 5.5% last year.

Or, investors could look at these short-term blips as just that — temporary fluctuations that shouldn’t influence a long-term strategy. That’s an idea Adriana Posada recommends. Posada, who manages the American Beacon Large Cap fund (AADEX), says it’s better to think years ahead, not get caught up in the moment. Her fund, whose major holdings include IBM, Verizon Communications (VZ) and Wyeth (WYE) (which proved to be a wise name to stay with – the pharmaceuctical company was bought out by rival Pfizer (PFE) at a 32% premium at the end of March), has very little turnover despite current market turmoil.

“If you have to take a beating, that’s what you do,” she says. “We think that a lot of the retrenchment is not permanent, not due to fundamentals. These companies are not broken. As long as they can have internal or alternative sources of short-term funding they can survive.”

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Source: SmartMoney.com | 13 Apr 2009 | 4:00 am

Boots of recovery

Match fees are the new indicator for economic recovery
Source: BBC News | Business | World Edition | 12 Apr 2009 | 4:31 pm

Camaro: GM's power play

With the 2010 Camaro, GM reminds America that's there's still a lot to like about "The General."
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 4:20 pm

Wall Street: Bracing for profit shock

The five-week old stock rally faces its biggest test yet this week: The arrival of the first big basket of what is likely to be a rotten batch of quarterly results.
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 4:15 pm

UK moves towards car scrap scheme

The government is likely to introduce an incentive scheme to scrap old vehicles in exchange for new ones, the BBC learns.
Source: BBC News | Business | World Edition | 12 Apr 2009 | 4:13 pm

Economic Preview: More hopeful glimmers in economic data, but more bad news, too

Is the economy mending? Or is it still getting worse? The economic data to be released in the coming week are likely to show a few more 'glimmers of hope' amid a very bleak economic landscape.

Source: MarketWatch.com - Top Stories | 12 Apr 2009 | 4:10 pm

UPDATE 2-Shell shuts flowstations after fire in south Nigeria

LAGOS, April 12 (Reuters) - Royal Dutch Shell said on Sunday it had shut down flowstations feeding into its Trans-Niger oil pipeline in southern Nigeria as a precautionary measure after a fire at a manifold...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 4:09 pm

Tech jobs getting zapped

The tech industry, once one of the hottest sectors for job seekers, is falling victim to dried up spending as the recession takes its toll.
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 3:56 pm

Defensive pharma promises solid Q1 results

LONDON/NEW YORK (Reuters) - Drugmakers should deliver a solid set of quarterly results but investors will be watching for any signs of recession choking demand for more expensive treatments.
Source: Reuters: Business News | 12 Apr 2009 | 3:46 pm

Defensive pharma promises solid Q1 results (Reuters)

Reuters - Drugmakers should deliver a solid set of quarterly results but investors will be watching for any signs of recession choking demand for more expensive treatments.
Source: Yahoo! News: Business | 12 Apr 2009 | 3:46 pm

Defensive pharma promises solid Q1 results

LONDON/NEW YORK (Reuters) - Drugmakers should deliver a solid set of quarterly results but investors will be watching for any signs of recession choking demand for more expensive...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 3:46 pm

'Hannah Montana' rocks North American box office

LOS ANGELES, April 12 (Reuters) - Walt Disney Co's "Hannah Montana: The Movie" doubled forecasts by earning $34 million worth of tickets at the Easter weekend box office in North America, as young fans...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 3:35 pm

Shell shuts flowstations after fire in south Nigeria

LAGOS, April 12 (Reuters) - Royal Dutch Shell said on Sunday it had shut down flowstations feeding into its Trans-Niger oil pipeline in southern Nigeria as a precautionary measure after a fire at the...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 3:34 pm

Is Steve Jobs really in charge?

Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 3:33 pm

Madoff opening-day Mets tickets fetch $7,500

Two opening-day Mets tickets, part of a season ticket package formerly owned by convicted Ponzi schemer Bernard Madoff's company, fetched $7,500 in an eBay auction Sunday morning.
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 3:29 pm

Market player

Handel may have been a smart financial operator
Source: BBC News | Business | World Edition | 12 Apr 2009 | 3:27 pm

Thai protesters react to 'declaration of war'

Thailand slid perilously close to chaos on Sunday when opposition protesters called the government's decision to announce a state of emergency in Bangkok 'a declaration of war against the people of Thailand'
Source: Financial Times - US homepage | 12 Apr 2009 | 3:26 pm

PREVIEW-Defensive pharma promises solid Q1 results

* Solid performance expected but long term problems loom
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 3:23 pm

PREVIEW-Defensive pharma promises solid Q1 results

* Solid performance expected but long term problems loom
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 3:23 pm

Zimbabwe dollar 'not back soon'

Zimbabwe's government says the suspension of its national currency will last for at least a year.
Source: BBC News | Business | World Edition | 12 Apr 2009 | 3:21 pm

Wall St Week Ahead: Rally's fate turns on bank results (Reuters)

Reuters - If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.

Source: Yahoo! News: Stock Markets News | 12 Apr 2009 | 3:20 pm

Wall St Week Ahead: Rally's fate turns on bank results (Reuters)

Reuters - If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.

Source: Yahoo! News: Business | 12 Apr 2009 | 3:20 pm

Wall St Week Ahead: Rally's fate turns on bank results

NEW YORK (Reuters) - If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 3:20 pm

Wall St Week Ahead: Rally's fate turns on bank results

NEW YORK (Reuters) - If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.
Source: Reuters: Business News | 12 Apr 2009 | 3:20 pm

Weekend Investor: Caught in a squeeze, short sellers have eyes peeled for reversal

Short sellers are being ambushed from all sides -- from tighter regulations to double-digit stock rallies. But there are ways to get out of the jungle alive.

Source: MarketWatch.com - Top Stories | 12 Apr 2009 | 3:16 pm

US standoff with pirates reaches fifth day

Somali pirates have taken a hijacked Italian tugboat with 16 foreign crew to the Horn of Africa nation's coast but not yet demanded a ransom, a regional maritime group said on Sunday
Source: Financial Times - US homepage | 12 Apr 2009 | 3:14 pm

Auto Review: 2009 Mazda MX-5 Miata: More fun than the federal budget

Where else are you going to go on a sunny day with a Miata hardtop convertible than a town named after one of the things that make this legendary sports car something special?

Source: MarketWatch.com - Top Stories | 12 Apr 2009 | 3:11 pm

State of emergency in Bangkok

Thai Prime Minister Abhisit Vejjajiva announced a state of emergency Sunday in the capital city, Bangkok, and surrounding areas in an attempt to tamp down days of intensifying anti-government protests.
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 3:02 pm

Hired! Working for Uncle Sam

For those concluding their service in the Armed Forces this year, facing a bleak job market can be a tough assignment.
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 2:50 pm

HSBC seeks $4 bln from property sales -paper

LONDON, April 12 (Reuters) - Europe's largest bank HSBC Holdings is looking to sell three of its biggest office buildings to raise 2.7 billion pounds ($3.98 billion), the Sunday Telegraph reported without...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 2:49 pm

PZ Cussons to bid for Sara Lee: report

LONDON (Reuters) - Britain's PZ Cussons has made it onto the shortlist of bidders for the European household and personal care business of U.S. consumer goods group Sara Lee , the Sunday Times reported without citing sources.
Source: Reuters: Business News | 12 Apr 2009 | 1:53 pm

PZ Cussons to bid for Sara Lee: report

LONDON (Reuters) - Britain's PZ Cussons has made it onto the shortlist of bidders for the European household and personal care business of U.S. consumer goods group Sara Lee , the Sunday...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 1:53 pm

PZ Cussons to bid for Sara Lee: report (Reuters)

Reuters - Britain's PZ Cussons has made it onto the shortlist of bidders for the European household and personal care business of U.S. consumer goods group Sara Lee , the Sunday Times reported without citing sources.
Source: Yahoo! News: Business | 12 Apr 2009 | 1:53 pm

PZ Cussons to bid for Sara Lee ops -paper

LONDON, April 12 (Reuters) - Britain's PZ Cussons has joined the shortlist of bidders for the European household and personal care business of U.S. consumer goods group Sara Lee , the Sunday Times reported...
Source: RSS feed - channel BNewsBusiness | 12 Apr 2009 | 1:31 pm

Cut in VAT 'boosts retail sales'

The chancellor's cut in VAT is working and has led to a big boost in consumer spending, a leading economics group says.
Source: BBC News | Business | World Edition | 12 Apr 2009 | 1:29 pm

Getting auto sales in gear again

There's been a lot of talk about the restructuring that needs to be done to make General Motors and Chrysler more competitive for the long-haul.
Source: Business and financial news - CNNMoney.com | 12 Apr 2009 | 1:23 pm

UBS to announce more job cuts soon: media

ZURICH (Reuters) - Swiss bank UBS will announce more job cuts soon, with staff in Switzerland and departments like marketing to be hit hard, newspapers reported on Sunday.
Source: Reuters: Business News | 12 Apr 2009 | 12:40 pm

UBS to announce more job cuts soon: media (Reuters)

Reuters - Swiss bank UBS will announce more job cuts soon, with staff in Switzerland and departments like marketing to be hit hard, newspapers reported on Sunday.

Source: Yahoo! News: Business | 12 Apr 2009 | 12:40 pm

Credit Suisse starts shutting U.S. offshore accounts: report (Reuters)

Reuters - Swiss bank Credit Suisse has started closing down the offshore accounts of U.S. clients who have not declared the money to the U.S. authorities, a newspaper reported on Sunday.
Source: Yahoo! News: Business | 12 Apr 2009 | 12:29 pm

Credit Suisse starts shutting U.S. offshore accounts: report

ZURICH (Reuters) - Swiss bank Credit Suisse has started closing down the offshore accounts of U.S. clients who have not declared the money to the U.S. authorities, a newspaper reported on Sunday.
Source: Reuters: Business News | 12 Apr 2009 | 12:29 pm

Cargo airlines fined $214m for price fixing

Three cargo airlines have agreed to pay fines totalling $214m for their roles in a global conspiracy to fix prices for air freight
Source: Financial Times - US homepage | 12 Apr 2009 | 12:03 pm

China seeing 'gradual recovery'

Chinese Premier Wen Jiabao says that his country's economy is showing some signs of recovery from the global financial crisis.
Source: BBC News | Business | World Edition | 12 Apr 2009 | 11:44 am

A Note To The Treasury: Toyota (TM) Will Lose $5 Billion

The Treasury Department may want to adjust what it thinks the cost of the bailouts of GM (GM) and Chrysler will cost. Word out of Japan is that Toyota (TM) will loss $5 billion in the next fiscal year. According to Reuters, ” Toyota Motor Corp’s operating loss could balloon to over 500 billion yen ($5 [...]

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Source: 24/7 Wall Street | 12 Apr 2009 | 11:27 am

Obama sees 'hope' for US economy

President Barack Obama says he sees "glimmers of hope" in the US economy, but warns there is a lot more work to do.
Source: BBC News | Business | World Edition | 12 Apr 2009 | 7:14 am

Bonds surge as investors' fear wanes

Low-risk, low-yield government issues lose favor as confidence returns, but the future is murky and the threat of inflation remains.

Bond investors this year have shed much of the abject fear that gripped them in the fourth quarter.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

An occupant finds worth in junk mail

Re: David Lazarus' consumer column " Tossing out junk mail’s defense ," April 8:
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

HUD Secretary Shaun Donovan wants mortgage incentives for energy-efficient homes

Donovan says mortgages should come with lower rates or better terms to encourage purchases and retrofits that save energy. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

Target-date retirement funds: Not quite 'set it and forget it'

These mutual funds may have the same target dates, but they vary widely in their holdings and investment philosophies. So investors need to take a careful look. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

A finance talk-show host with rock-star looks

Cody Willard, co-host of Fox Business Network's 'Happy Hour,' would hardly be mistaken for a pinstriped Wall Street drone. But he's got some serious financial credentials.

The gig: Co-host of Fox Business Network's "Happy Hour" show, which airs at 2 p.m. Pacific time weekdays from the Bull and Bear bar in New York's Waldorf-Astoria Hotel. This is not your granddaddy's finance show. And Cody Willard, with his rock-star mane and rapid-fire banter, would hardly be mistaken for some pinstriped Wall Street drone. The show's calculatedly casual style and Main Street populism illustrate how the upstart Fox Business Network seeks to compete with the leading business channel, CNBC.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

Ways to make college costs more affordable

Parents and students should think of themselves as shoppers rather than college applicants and go on the hunt for the best deals. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

A strategy for stocks? Look inward first

The only certainty is that stocks will go up and down. Figure out your true risk tolerance and go from there. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

Bonds surge as investors' fear wanes

Low-risk, low-yield government issues lose favor as confidence returns, but the future is murky and the threat of inflation remains. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

A queen and her realm

Ever since this Queen Anne was relocated in two pieces from 4th Street and Grand Avenue in 1928 to a spot off Pacific Coast Highway in Long Beach, it's been the talk of the neighborhood.
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

HUD Secretary Shaun Donovan wants mortgage incentives for energy-efficient homes

Donovan says mortgages should come with lower rates or better terms to encourage purchases and retrofits that save energy.

Picture this: You're shopping for a larger home, dropping by open houses on a weekend. Each house you visit has an easy-to-understand disclosure about something that's typically unknown today -- its energy-guzzling costs per year.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

A strategy for stocks? Look inward first

The only certainty is that stocks will go up and down. Figure out your true risk tolerance and go from there.

Uncomfortable putting your hard-earned money in stocks -- even after the recent run-up that has helped recover a portion of the last year's losses? That's probably a good sign.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

A finance talk-show host with rock-star looks

Cody Willard, co-host of Fox Business Network's 'Happy Hour,' would hardly be mistaken for a pinstriped Wall Street drone. But he's got some serious financial credentials. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

Ways to make college costs more affordable

Parents and students should think of themselves as shoppers rather than college applicants and go on the hunt for the best deals.

Can you afford college?

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

Reverse mortgage variation is aimed at seniors looking to downsize

Borrowers may sell their current residence and use a reverse mortgage to buy a new one in a single transaction.

That Ralph and Plum Smith bought a house last month in Brookings, Ore., is not terribly remarkable, at least not until you learn that he's 84 and she's 77. But what is even more noteworthy is that the couple didn't pay cash for their new $240,000 home, yet they will have no mortgage payments.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

A queen and her realm

Ever since this Queen Anne was relocated in two pieces from 4th Street and Grand Avenue in 1928 to a spot off Pacific Coast Highway in Long Beach, it's been the talk of the neighborhood.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

Target-date retirement funds: Not quite 'set it and forget it'

These mutual funds may have the same target dates, but they vary widely in their holdings and investment philosophies. So investors need to take a careful look.

For people who lack the time, expertise or inclination to put together their own retirement portfolios, asset management firms have increasingly marketed "target date" mutual funds as a no-worry, hassle-free solution.

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

An occupant finds worth in junk mail

Re: David Lazarus' consumer column " Tossing out junk mail’s defense ," April 8:

Source: L.A. Times - Business | 12 Apr 2009 | 7:00 am

Reverse mortgage variation is aimed at seniors looking to downsize

Borrowers may sell their current residence and use a reverse mortgage to buy a new one in a single transaction. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 7:00 am

Toyota operating loss may hit $5 billion in 2009/10: report

TOKYO (Reuters) - Toyota Motor Corp's operating loss could balloon to over 500 billion yen ($5 billion) in the year to March 2010, as the global economic crisis hits car sales, the Nikkei business daily said on Sunday without citing sources.
Source: Reuters: Business News | 12 Apr 2009 | 6:44 am

HUD's Dollar Homes falls short of mission

The federal program sets out to help poor families buy homes. Instead, housing contractors and investors are reaping the benefits, records show. ...
Source: RSS feed - channel BNPaperBusiness | 12 Apr 2009 | 12:58 am

BT to cut dividend and another 10000 jobs

Telecoms giant BT is preparing to cut another 10000 jobs and slash its dividend when it announces preliminary results next month.
Source: Telegraph Finance | 11 Apr 2009 | 11:21 pm

£16 million paid to highest earning banker

A senior executive at a British bank was paid £16 million last year more than any other banker in the UK.
Source: Telegraph Finance | 11 Apr 2009 | 11:19 pm

Guess what, Darling? Your Vat cut seems to have worked

ALISTAIR DARLING’s temporary cut in Vat, widely criticised as being an expensive failure, has worked, according to a report to be published this week by a leading economics consultancy.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

If Ed’s buying in Florida, the slump is over

WHEN it comes to anything to do with the economy, my friend Ed is one of those happy pessimists who expects the worst and is usually right.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

Jaguar close to £800m loan

JAGUAR LAND ROVER is in advanced talks with ministers, banks and its owner, Tata of India, on a £800m refinancing that should ease worries about it running out of cash this year and safeguard 15,000 jobs.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

HSBC’s London HQ back on the block in £2.7bn sell-off

HSBC is seeking to raise about €3 billion (£2.7 billion) through the sale of three of its biggest office buildings. They include the banking group’s London headquarters at Canary Wharf, its French base on the Champs Elysées and offices in New York.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

£2bn swoop on Sibir

TNK-BP is preparing a £2.3 billion offer for Sibir Energy, the London-listed oil group mired in a scandal over the alleged misappropriation of $400m ($£273m) in company funds.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

Britain’s best-paid banker takes home £16m bonus

A BANKER at Standard Chartered received a £16m pay packet last year, making him the best-paid employee at any British bank.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

Buyout king hits the rocks

PRIVATE-EQUITY BOSS Damon Buffini’s effort to steer Permira out of the recession hit a fresh setback this weekend after restructuring experts were called in at one of its largest investments.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

A touch of Chanel for Pringle

The lyrically named Mary-Adair Macaire – part Irish, part Scottish, all American – is having a crisis. I have asked for her date of birth, having already promised I wouldn’t. We journalists can be mean like that. “Andrew,” she squeals in her Philadelphia accent, “I am a single girl in town, don’t ruin my chances.” Then she gives a deep, rather sexy, laugh. “Oh God, now I can see the banner headline, and the . . .”
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

Fund chief’s assets frozen

A COURT ORDER has been obtained to freeze the assets of Magnus Peterson, the former chief executive of failed hedge fund Weavering Capital.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

BT to slash another 10,000 jobs

BT is preparing to axe another 10,000 jobs. The huge redundancy programme will be announced next month alongside a horrendous set of year-end figures that will include provisions of about £1.5 billion.
Source: Latest Business News from Times Online | 11 Apr 2009 | 11:00 pm

UN draft statement calls for N Korea sanction enforcement

The United Nations Security Council is set to call for the enforcement of existing sanctions against North Korea under the terms of a toughly worded draft statement that condemns its April 5 rocket launch
Source: Financial Times - US homepage | 11 Apr 2009 | 10:34 pm

Mutual Funds Quarterly Report

For stock mutual fund investors, the first quarter of this year had been looking a lot like the fourth quarter of last year: an Acapulco cliff dive. But this time around, the equity market landed on a trampoline.

Source: L.A. Times - Business | 11 Apr 2009 | 9:19 pm

Barclays opens door to BGI sale

Barclays is to consider offers for its entire asset management arm as part of attempts to extract a higher bid for iShares the exchangetraded funds unit it agreed to sell last week for £3bn.
Source: Telegraph Finance | 11 Apr 2009 | 8:47 pm

FSA inquiry to investigate bank bosses

The City regulator is to conduct a formal investigation into the events which led to last year's emergency Government rescues of HBOS and Royal Bank of Scotland RBS The Sunday Telegraph can reveal.
Source: Telegraph Finance | 11 Apr 2009 | 8:39 pm

BAA lands in fresh row with bondholders

BAA faces a fresh showdown with its lenders and bondholders over the Government's plans to change the way the airports group is regulated.
Source: Telegraph Finance | 11 Apr 2009 | 8:33 pm

Sir Bob Geldof's company to launch Accountants TV

His career as a rock star was as far away from the staid world of accountancy as it is possible to get but Sir Bob Geldof's television production company Ten Alps has hit upon its next big idea: a TV channel dedicated to the beancounting profession.
Source: Telegraph Finance | 11 Apr 2009 | 8:26 pm

Shanghai carmaker SAIC makes approach for Vauxhall

Chinese car manufacturer that owns the rump of MG Rover is to consider investment in a new European company to house Britain's Vauxhall.
Source: Telegraph Finance | 11 Apr 2009 | 8:16 pm

Manufacturing gloom deepens as Pilkington cuts jobs

Hundreds of jobs are under threat at the British operations of Pilkington the Japaneseowned glass maker amid falling demand for its products from the automotive and construction industries.
Source: Telegraph Finance | 11 Apr 2009 | 8:13 pm

DIY giants trim advertising spend

Britain's biggest doityourself and furniture retailers have significantly cut marketing spend in the past year as the recession bites.
Source: Telegraph Finance | 11 Apr 2009 | 7:43 pm

Wolseley to chase its debtors in court

Wolseley the troubled building materials group will head to court later this month in an effort to have 15 small familyrun firms wound up.
Source: Telegraph Finance | 11 Apr 2009 | 7:33 pm

China's forex reserves rise, but growth slows

China's foreign exchange reserves rose 16% in the first quarter from a year ago, but the pace from December slowed, according to reports quoting central bank.

Source: MarketWatch.com - Top Stories | 11 Apr 2009 | 7:12 pm

Madoff feeder funds reaped huge fees

Firms that fed client money to Bernard Madoff likely took in at least $790 million in fees over the years, according to a published report.

Source: MarketWatch.com - Top Stories | 11 Apr 2009 | 5:37 pm

Steve Jobs maintains grip at Apple: report

WASHINGTON (Reuters) - More than three months into a medical leave from Apple, Chief Executive Steve Jobs remains closely involved in key aspects of running the company, the Wall Street Journal reported Saturday, citing people familiar with the matter.
Source: Reuters: Business News | 11 Apr 2009 | 4:38 pm

Future-proof your job in the recession

With more than a third (36 per cent) of firms intending to shed staff over the next three months - the highest since 1991, when unemployment topped 10 per cent - it's time to recession-proof your job. The Institute of Economic...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Charm school arms career women

Fierce labour market competition is prompting female job seekers to revisit finishing school values of polish and presentation. Former model Rachel Parsons launched Chic Consultancy last year to train young women in deportment,...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Action on the home front

Home buyers - including expats with an eye for a bargain - have returned to the market in strength, hunting both high end and investment property. International traffic to Trade Me Property surged 21 per cent last month. Brendon...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Bernard Hickey : Time is right to buy

For years, the common refrain from potential home buyers has been that it's cheaper to rent than buy. The sharp rise in house prices from 2003 to the end of 2007, combined with a rise in the two-year fixed mortgage rate from 6...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Martin Hawes : Beware the holiday from hell

The term "mortgage holiday" is a misnomer. A holiday is a break from something, a discontinuance of the things you normally have to do. However, that's not the case with a mortgage holiday - there's no time off, as the interest...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Obama sees signs of economic progess

WASHINGTON (Reuters) - President Barack Obama said on Friday the recession-hit U.S. economy was showing "glimmers of hope" despite remaining under strain and promised further steps in coming weeks to tackle the financial crisis.
Source: Reuters: Business News | 11 Apr 2009 | 4:00 pm

Days numbered for the working dog

Hugh wears a gentleman farmer's grey tweed Trilby, a cricket-beige sweater and a bib bearing the number 10. He walks calmly towards the sheep as his dog shifts to the left, to the right, a sinuous arrow quivering in the bow of his...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Top tips : On staying in shape through the economic downturn

Corporate speaker Amanda Gore gives businesses tips on staying in shape through the economic downturn My company is announcing redundancies and employee morale is low. How can we lift spirits? Communicate the positive changes...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Kerre Woodham: Layby takes credit

My first proper paying job was working as a part-time waitress at the Prince Regent in Manners Mall three nights a week, when I was living in Wellington and training to be a journalist. That was in the dying days of the Muldoon...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Kerre Woodham: Sky's the limit for my nana

My nana is 99 and she's still as keen on her rugby as she was when she was a slip of a girl. She never misses a Waikato or Chiefs game and if the All Black selectors had listened to Nana Cherry in 2007 - well, let's just say the Rugby...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Christmas gets hampered

Celebrity foodie Annabelle White was once New Zealand's Mrs Christmas. But now the company is threatened with liquidation, and customers are worried Christmas may not come this year. Among those customers are pensioners Fred...
Source: New Zealand Herald - Business | 11 Apr 2009 | 4:00 pm

Microsoft's 'Apple tax' gambit

Source: Business and financial news - CNNMoney.com | 11 Apr 2009 | 3:35 pm

Market Snapshot: Stocks to bank earnings: No disappointments, please

Hopes raised by a five-week rally in stocks will be challenged next week as big banks such as J.P. Morgan Chase and Citigroup report quarterly earnings results that may have benefited from recent accounting changes.

Source: MarketWatch.com - Top Stories | 11 Apr 2009 | 3:29 pm