World Business News Headlines for May 3, 2009

Swine flu nations make trade plea

Three countries worst hit by the global swine flu outbreak have urged economic partners not to allow it to affect international trade.
Source: BBC News | Business | World Edition | 3 May 2009 | 9:38 am

N.Y. Times extends deadline for Boston Globe cuts

New York Times Co. extends the May 1 deadline by which it was seeking $20 million of concessions from the Boston Globe to midnight on Sunday.

Source: MarketWatch.com - Top Stories | 3 May 2009 | 8:24 am

Asian nations close to finalizing $120 billion emergency fund

NUSA DUA, Indonesia (Reuters) - Thirteen East and Southeast Asian countries are expected to endorse on Sunday an emergency $120 billion liquidity fund that the three largest of them finalized hours earlier to counter the economic downturn.

Source: Reuters: Business News | 3 May 2009 | 8:09 am

Asian nations close to finalizing $120 billion emergency fund (Reuters)

Reuters - Thirteen East and Southeast Asian countries are expected to endorse on Sunday an emergency $120 billion liquidity fund that the three largest of them finalized hours earlier to counter the economic downturn.
Source: Yahoo! News: Business | 3 May 2009 | 8:09 am

Pressing issue

How can online newspapers make money?
Source: BBC News | Business | World Edition | 3 May 2009 | 8:01 am

Jack Kemp, footballer and supply-side backer, dies

Jack Kemp, a champion on the football field and a champion of supply-side economics during a career in politics, dies of cancer at age 73.

Source: MarketWatch.com - Top Stories | 3 May 2009 | 7:30 am

There's no such thing as a fixed-rate credit card

Even if you have good credit, card issuers can change your rate and terms at will.

Dear Liz: I just received a letter from my credit card issuer hiking my 8.9% fixed rate to a variable rate of 14.65%. I've had the card for more than 12 years, have never been late and have a near-perfect credit score. Are there any fixed-rate cards out there anymore?

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

In Point Dume, geometry creates drama

Glass walls, angled steel beams and polished concrete floors make a breathtaking hillside perch by the ocean.

Angled steel beams, walls of glass and polished concrete floors create an intricate series of geometric shapes in a contemporary-style house that's designed to follow the slope of the Malibu hillside it sits on.

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

Credit unions are a good alternative to banks

The nonprofit cooperatives aren't as exclusive as they once were and often have better interest rates and lower fees.

Fed up with high fees, low returns and poor service at your bank? It may be time to shop for a credit union.

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

House hunting? It's not a buyer's market everywhere

The median price in Southern California may have plummeted, but in more desirable neighborhoods, home buyers are still engaging in bidding wars. ...
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

States taking steps to turn $8,000 home-purchase tax credit into cash

Instead of making buyers wait until they receive their tax refunds, some states have created bridge-loan programs that advance purchasers the money they need for their closings.

For the housing market, it's the equivalent of financial alchemy, and it's hot: Turning the $8,000 federal home-purchase tax credit, which normally isn't spendable until after you've gotten your refund, into immediate, hard cash, available for your down payment and closing costs.

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

She successfully engineered a major career switch

Long before she became vice president and general manager of Boeing's C-17 Globemaster III military transport program in Long Beach, Jean Chamberlin was once a nurse.

The gig : Boeing Co. vice president and general manager of the Global Mobility Systems business, which includes oversight of the $8-billion-a-year C-17 Globemaster III military transport program in Long Beach. The sprawling C-17 factory next to Long Beach Airport employs more than 5,000 workers and is the last remaining airplane final assembly line left in Southern California. Six hundred fifty suppliers employing 30,000 workers in 43 states make parts for the C-17.

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

Sue the company? Most contracts force consumers to forfeit that right

If you have a credit card, a cellphone or even just a job, chances are you've already signed away your right to sue if something goes wrong.

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

Credit unions are a good alternative to banks

The nonprofit cooperatives aren't as exclusive as they once were and often have better interest rates and lower fees. ...
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

In Point Dume, geometry creates drama

Glass walls, angled steel beams and polished concrete floors make a breathtaking hillside perch by the ocean. ...
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

Don't be afraid of hybrid ARMs

These types of adjustable-rate mortgages aren't nearly as risky as some other loans, and they can save you a substantial amount of money compared with conventional fixed-rate mortgages.

Some adjustable-rate mortgages may have been lumped in with such "toxic" mortgage products as interest-only loans, pay-option ARMs and loans with negative amortization, but those are not the same as more conventional products known as hybrid ARMs. These are loans that carry fixed rates for the first five or seven years, after which the rate is adjusted up or down annually based on market conditions at the time.

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

She successfully engineered a major career switch

Long before she became vice president and general manager of Boeing's C-17 Globemaster III military transport program in Long Beach, Jean Chamberlin was once a nurse. ...
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

There's no such thing as a fixed-rate credit card

Even if you have good credit, card issuers can change your rate and terms at will. Dear Liz: I just received a letter from my credit card...
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

Sue the company? Most contracts force consumers to forfeit that right

If you have a credit card, a cellphone or even just a job, chances are you've already signed away your right to sue if something goes wrong.
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

Many people fleeing fire would save photos first, poll finds

In the poll, people were asked what they would take if, during a fire, they could save only one item. Money, laptops, pets and jewelery were also frequently mentioned. ...
Source: RSS feed - channel BNPaperBusiness | 3 May 2009 | 7:00 am

States taking steps to turn $8,000 home-purchase tax credit into cash

Many people fleeing fire would save photos first, poll finds

In the poll, people were asked what they would take if, during a fire, they could save only one item. Money, laptops, pets and jewelery were also frequently mentioned.

If your house were burning down and you could take only one thing with you, what would it be?

Source: L.A. Times - Business | 3 May 2009 | 7:00 am

Don't be afraid of hybrid ARMs

Hotel tycoon Kerzner's SAfrica return

After building mega-resorts from the Bahamas to Dubai, tycoon Sol Kerzner is back home in South Africa with a posh new 100-million-dollar hotel, 15 years after pulling up his stakes here in
Source: RSS feed - channel BNewsBusiness | 3 May 2009 | 6:08 am

Buffett commends US finance steps

US investor Warren Buffett says the US government is generally taking the right steps to aid economic recovery.
Source: BBC News | Business | World Edition | 3 May 2009 | 4:33 am

Buffett dispenses gloom at Berkshire fest

OMAHA, Nebraska (Reuters) - Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession hurt many of the company's businesses and investments.

Source: Reuters: Business News | 3 May 2009 | 4:33 am

Mexican swine flu outbreak 'stabilizing'

New data showed fewer people have died in Mexico than first thought from a new influenza strain, a glint of good news for a world rattled by the threat of a flu pandemic
Source: Financial Times - US homepage | 3 May 2009 | 3:44 am

UPDATE 1-Hong Kong Disneyland deal could happen soon - govt

LOS ANGELES, May 2 (Reuters) - A top Hong Kong government official is pleased with the progress in talks with the Walt Disney Co on expanding the underperforming Hong Kong Disneyland, and a deal could...
Source: RSS feed - channel BNewsBusiness | 3 May 2009 | 3:27 am

House hunting? It's not a buyer's market everywhere

The median price in Southern California may have plummeted, but in more desirable neighborhoods, home buyers are still engaging in bidding wars.

The confident smile Sam Rivero wore as he hunted for his first house had a lot to do with the buzz thumping in his ears. Ever since home values began sinking, pundits have touted the juicy opportunities for aspiring buyers priced out of the market before, and the young business-development executive heard that cue like a sonic boom.

Source: L.A. Times - Business | 3 May 2009 | 1:15 am

Dealbreaker Weekend Edition: Blaming Hedge Funds

We are all for basic hedge fund registration for funds over a certain AUM, since the questions asked by an SEC examining team pale in comparison to the kind of scrutiny serious investors pummel funds and their managers with on a regular basis, but the SEC (in the form of Monarch of the Red Tape, Mary "Queen of Knots" Schapiro), likely smarting badly after the drubbing it caused itself in missing Madoff despite being led to the body, the murder weapon, the bloodstained suspect, the videotapes of the incident and presented with a notarized confession, is slowly being drained of authority. Realizing this suddenly, the Commission has woken up to the fact that there is a government turf war on, and the stakes are the highest they have been since the New Deal. A massive list of new powers and wide sweeping authorities are sitting on the felt and the SEC is finally in for a few hands- betting high and hard to make up for lost time:

Schapiro said "it's certainly possible" that the SEC would consider forcing hedge funds to publicly disclose short- sale positions, imposing restrictions on leverage and restricting what the firms can invest in.
"We're not at the point where we've made decisions about those things," she said, adding that the SEC would first consult with other government agencies.

We would point out to the SEC that hedge funds had little to do with the present crisis, and that, in fact, those firms dying on the vine are the same firms that endured the greatest level of regulation prior to imploding, but reason went out the window long ago when Obama slammed the bottle of Jack Daniels on the table after taking that first big hand and announcing: "I won."

SEC Chief Schapiro Wants Authority to Make Hedge-Fund Rules [Bloomberg]

(HT: SEG)

Source: Dealbreaker | 3 May 2009 | 12:24 am

Hong Kong Disneyland deal could happen soon - govt

Warren Buffett: Inflation on the horizon

Berkshire Hathaway chief Warren Buffett defended the government's handling of the economic crisis, but warned that the purchasing power of the dollar may fall as policymakers stretch to finance expensive rescue plans.
Source: Business and financial news - CNNMoney.com | 2 May 2009 | 11:34 pm

Play the Fortune 500 Jeopardy! game

On May 4, TV's Jeopardy! will feature a category of Fortune 500 clues. To tide you over, try our online version's extra questions. How well will you score?
Source: Business and financial news - CNNMoney.com | 2 May 2009 | 11:32 pm

ECB to slash interest rates to record low

THE European Central Bank is set to cut its key interest rate to 1% this week, the lowest in its 10-year history.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Reuben firm seeking US float

THE billionaire Reuben brothers are locked in talks with an American hedge fund about plans to float their fast-growing data-centre business Global Switch in the US.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Bank's success comes at a price for business

During the boom years, the banks made billions of pounds and paid out hundreds of millions in bonuses. When the bust came they were rescued by governments or shareholders after owning up to huge losses on bad loans.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Global Radio seeks to quash debt fears

AUDITORS to Global Radio, the owner of Classic FM and Heart, have raised concerns about the company’s future after it failed to reorganise its debts before posting overdue accounts.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Lehman boosts Barclays

BARCLAYS will publish first-quarter profits this week that will demonstrate why its share price has soared nearly sixfold since the beginning of the year.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Lights are flickering at the end of the tunnel

After a huge rush of events, from banking convulsions through to the G20 and the budget, things have gone a bit quiet. It could be that nothing is happening, which would be worrying. Or it could just be that nothing bad is happening, which would be more encouraging.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Jaguar’s loans stall in Whitehall

TALKS between Jaguar Land Rover and the government on a financial-aid package for the carmaker have reached an impasse over the degree of oversight and management control being demanded by Whitehall.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Crisis talks to rescue Setanta TV

THE sports broadcaster Setanta is fighting for its life this weekend as a new management team holds urgent talks to raise cash and slash the amount it pays for sports rights.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Top executives lead revolt on Heathrow third runway

THE leaders of some of Britain’s biggest companies have begun a revolt against plans for a third runway at London’s Heathrow airport.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Buffett: We’ve been struck by a financial hurricane

BILLIONAIRE investment guru Warren Buffett told shareholders yesterday that the world had been hit by a “financial hurricane” as the 78-year-old offered new clues about who will replace him at the helm of his company, Berkshire Hathaway.

Source: Latest Business News from Times Online | 2 May 2009 | 11:00 pm

Obama says financial sector to shrink

WASHINGTON (Reuters) - The financial sector will make up a smaller part of the U.S. economy in the future as new regulations clamp down on "massive risk-taking," President Barack Obama said in an interview published on Saturday.

Source: Reuters: Business News | 2 May 2009 | 10:28 pm

Obama says financial sector to shrink (Reuters)

Reuters - The financial sector will make up a smaller part of the U.S. economy in the future as new regulations clamp down on "massive risk-taking," President Barack Obama said in an interview published on Saturday.
Source: Yahoo! News: Business | 2 May 2009 | 10:28 pm

Buffett offers bleak outlook for U.S. newspapers

OMAHA, Nebraska (Reuters) - Warren Buffett is fond of newspapers -- he reads five a day -- but the billionaire investor warned shareholders of his Berkshire Hathaway Inc that the reeling...
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 9:47 pm

Activist investors must keep eye on the Ball

Few people outside the City have ever heard of Mark Burgess the investment chief at Legal ? General's fund management arm but he is rapidly becoming one of the most notorious figures inside the boardrooms of bluechip companies.
Source: Telegraph Finance | 2 May 2009 | 9:23 pm

Investors ask Ball to take ITV role

Tony Ball the former chief executive of BSkyB has been approached by shareholders in ITV about taking on the challenge of reviving Britain's biggest commercial broadcaster.
Source: Telegraph Finance | 2 May 2009 | 9:16 pm

Darling's report hit by 50pc income tax row

A report on the City's future commissioned by Alistair Darling the Chancellor and which is due for publication this week has become the focus of a row about the new top rate of income tax The Sunday Telegraph has learnt.
Source: Telegraph Finance | 2 May 2009 | 9:16 pm

Buffett: Limit CEO pay through embarrassment

The way to limit excessive executive pay in the U.S. is to embarrass chief executives and compensation directors, rather than imposing more regulations, Berkshire Hathaway Chairman Warren Buffett says.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 9:08 pm

Buffett dispenses gloom at Berkshire fest (Reuters)

Reuters - Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession hurt many of the company's businesses and investments.

Source: Yahoo! News: Business | 2 May 2009 | 9:07 pm

Sir David Arculus to be Numis chairman

Sir David Arculus the City veteran who led the blockbuster sale of O2 will this week be named as the new chairman of Numis Corporation the investment banking group.
Source: Telegraph Finance | 2 May 2009 | 9:01 pm

NewsWatch: Buffett sees some housing market stabilization

Berkshire Hathaway Chairman Warren Buffett says he sees some signs of stabilization in housing markets.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 9:00 pm

Reporter's notebook: Buffett's second job

Warren Buffett: mattress salesman?

Source: MarketWatch.com - Top Stories | 2 May 2009 | 8:59 pm

Buffett says taxpayers aren’t paying more

The cost of recent massive government bailouts will likely by paid for through inflation, Berkshire Hathaway Chairman Warren Buffett says.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 8:50 pm

Gresham squeezed over toothpaste losses

Gresham Private Equity has lost millions of pounds after banks seized control of Betts Global the world's biggest toothpaste tube maker.
Source: Telegraph Finance | 2 May 2009 | 8:47 pm

Dalkia considers British sale

Dalkia the outsourcing giant owned by French energy giants EDF and Veolia is considering a sale of some of its British operations.
Source: Telegraph Finance | 2 May 2009 | 8:47 pm

Takeover Panel tackles Arsenal on shares

The City regulator has intervened in the fraught battle for the future of Arsenal Football Club.
Source: Telegraph Finance | 2 May 2009 | 8:47 pm

Benefits of new money go abroad

Billions of pounds "printed" by the Bank of England as part of its quantitative easing programme have been leaking overseas it has emerged.
Source: Telegraph Finance | 2 May 2009 | 8:34 pm

Citi acts on stress tests

Citigroup may be forced to raise an additional 10bn £6.7bn as the result of "stress tests" being conducted by the American government.
Source: Telegraph Finance | 2 May 2009 | 8:33 pm

RSA's Haste is headhunted for Zurich

Andy Haste the chief executive of RSA one of Britain's largest insurance companies has been approached to take over at rival insurer Zurich Financial Services.
Source: Telegraph Finance | 2 May 2009 | 8:33 pm

Moroccan airline rules out offer over Air Senegal

Royal Air Maroc has rejected the latest Senegalese offer over Air Senegal, which has ceased operations amid a dispute between Dakar and majority shareholder RAM, officials said Saturday.
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 8:10 pm

Wolfgang says Porsche won't be sold to VW: report

FRANKFURT (Reuters) - Wolfgang Porsche, head of the supervisory board of Porsche and patriarch of one of its two controlling families, said the carmaker will not be sold to Volkswagen .

Source: Reuters: Business News | 2 May 2009 | 7:35 pm

Wolfgang says Porsche won't be sold to VW: report

FRANKFURT (Reuters) - Wolfgang Porsche, head of the supervisory board of Porsche and patriarch of one of its two controlling families, said the carmaker will not be sold to Volkswagen .
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 7:35 pm

Wolfgang says Porsche won't be sold to VW: report (Reuters)

Reuters - Wolfgang Porsche, head of the supervisory board of Porsche and patriarch of one of its two controlling families, said the carmaker will not be sold to Volkswagen .
Source: Yahoo! News: Business | 2 May 2009 | 7:35 pm

UPDATE 1-Wolfgang says Porsche won't be sold to VW-report

*Porsche supervisory head says Porsche not to be sold to VW
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 7:27 pm

Questions of Buffett's succession mount

Warren Buffett revealed preliminary first-quarter earnings for Berkshire Hathaway, with operating profits of $1.7bn, down from $1.9bn last year, and book value dropping by 6 per cent a share
Source: Financial Times - US homepage | 2 May 2009 | 7:07 pm

Berkshire quarterly operating profit falls

Berkshire Hathaway's first-quarter profit fell slightly compared to a year ago, as many of the company's businesses suffered from the recession, according to Chairman Warren Buffett.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 7:04 pm

Roche deploys rapid response stockpile of Tamiflu

ZURICH, May 2 (Reuters) - The World Health Organisation has asked Roche Holding AG to deploy its so-called rapid response stockpiles of antiviral drug Tamiflu, the Swiss drugmaker said on Saturday.
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 7:03 pm

Buffett irritated by Moody’s downgrade

Berkshire Hathaway Chairman Warren Buffett says he was irritated by Moody's Investors Service's decision to cut the company's AAA rating.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 6:45 pm

Wells Fargo to emerge stronger, Munger says

Wells Fargo will emerge from the current banking crisis a lot stronger, Berkshire Hathaway Vice Chairman Charlie Munger tells shareholders at the Berkshire annual meeting.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 6:18 pm

Buffett sees some housing market stabilization

Berkshire Hathaway Chairman Warren Buffett says he sees some signs of stabilization in housing markets.

Source: MarketWatch.com - Top Stories | 2 May 2009 | 6:17 pm

SEC considering change to CEO pay disclosure rules (AP)

AP - The Securities and Exchange Commission is considering changing a formula that critics say often allows public companies to low-ball in regulatory filings just how much top executives are paid.
Source: Yahoo! News: Stock Markets News | 2 May 2009 | 4:54 pm

Dendreon Insiders Unload Stock (DNDN)

There was an interesting twist in the ongoing Dendreon Corp. (NASDAQ: DNDN) story that developed after 5:00 PM Friday. There was a whole series of FORM 4 filings that were put into the SEC for insider transactions. While it is obvious that most of these were option being exercised and company stock grants, it was [...]

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Source: 24/7 Wall Street | 2 May 2009 | 4:54 pm

But wait, there's a catch

Analysis by QV Insider reveals mortgagee sale properties are snapped up at an average 16 per cent discount off their estimated market value. Research director Jonno Ingerson studied mortgagee sales from January 2004 until March...
Source: New Zealand Herald - Business | 2 May 2009 | 4:00 pm

Stressing the need for breaks

Workers afraid they will be next in line for redundancy as the recession causes more job losses are spending longer in the workplace, hoping it will help them hang on to their jobs. Work-life balance expert professor Michael O'Driscoll,...
Source: New Zealand Herald - Business | 2 May 2009 | 4:00 pm

Big future for small sculpture

Artists and dealers say that despite the recession, small-scale sculpture is seeing a surprising upturn in demand from investors. Onehunga-based sculptor Jim Wheeler says sculpture is going "toe-to-toe with painting as an art investment". Sculpture...
Source: New Zealand Herald - Business | 2 May 2009 | 4:00 pm

Olly Newland : Know how to steer around disaster when times are tough

Hardly a week goes by in my office without yet another property owner confessing that they have painted themselves into a financial corner. Their stories are all too familiar, but for those caught, it is not just a story but an...
Source: New Zealand Herald - Business | 2 May 2009 | 4:00 pm

House market shows signs of recovery

A cautious murmur of optimism can be heard from some economists, property companies and estate agents: they are hoping that a slight upturn in house sales may herald the start of the recovery. Two new reports, one from the Real...
Source: New Zealand Herald - Business | 2 May 2009 | 4:00 pm

Forget birthday cake, try some humble pie

Excuse me for stating the freaking obvious, but is Eric Watson a bit slow? Or just bollock-clutchingly arrogant? I like a Bacchanalian knees-up as much as the next girl, but when you have just had to beg investors for a five-year...
Source: New Zealand Herald - Business | 2 May 2009 | 3:55 pm

Sean D'Souza: Being a Twit makes more sense than you think

I don't want to agree that Twitter is the next best thing. I didn't want to agree that blogs were the next best thing. But I didn't fight email or websites. However, every business owner I knew back in 2002 fought them like crazy....
Source: New Zealand Herald - Business | 2 May 2009 | 3:55 pm

Fiat CEO to meet German govt on possibly buying Opel

* Fiat CEO to meet with German foreign and econ ministers
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 3:05 pm

FACTBOX-Measures against new flu in Europe

May 2 (Reuters) - Here is a guide to precautionary steps being taken around Europe to combat a possible flu pandemic:
Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 3:01 pm

Dealbreaker Weekend Edition: Citi Suction

Remember no one "fails" a stress test. You just fail to avoid needing massive cash injections. So, when the Wall Street Journal announces that Citi is going to need $10 billion, "as the government continues negotiations with banks over the results of its so-called stress tests," that is absolutely not in any way a "failure." And you shouldn't read anything into the fact that the results of the "stress tests" are negotiable. Nothing at all.

And you conspiracy theorists should see absolutely nothing at all wrong with the fact that clicking on the link on the front page of the Wall Street Journal gets you a "page not available" error.

Source: Dealbreaker | 2 May 2009 | 2:43 pm

“Stress Tests” Point To Need For $150 Billion? Speculation Becomes Absurd

How much will the 19 banks that were subjected to the government’s “stress test” need to raise? No one knows and guesses range as high as $150 billion. But, guesses may be well off the mark. No one outside the banks and the government know the details of their financials and no one knows how the results [...]

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Source: 24/7 Wall Street | 2 May 2009 | 11:46 am

Visteon workers to vote on deal

The dispute over the collapse of Visteon is close to being resolved, with a union recommending an improved deal.
Source: BBC News | Business | World Edition | 2 May 2009 | 8:53 am

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