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Gazprom eyes takeover of Slovenia's fuel retailerRussian gas giant Gazprom may be interested in acquiring Slovenia's largest fuel retailer Petrol, Slovenian daily Delo reported Saturday, citing unnamed sources. "It seems that Petrol...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 10:39 am Gazprom eyes takeover of Slovenia's fuel retailer (AFP)
Source: Yahoo! News: Business | 6 Jun 2009 | 10:38 am Auto Review: 2009 Mini Cooper convertible: Not the topsThe problem is that nostalgia for the old Mini can only go so far. Designs must be updated over time as new rivals hit the market or that model may fall dangerously behind. Our problems with the test Mini started when I opened the driver’s door.
Source: MarketWatch.com - Top Stories | 6 Jun 2009 | 10:01 am Borel hoping week in NY ends with Belmont victory (AP)
Source: Yahoo! News: Stock Markets News | 6 Jun 2009 | 8:14 am PRESS DIGEST - Iran - June 6TEHRAN, June 6 (Reuters) - These are some of the leading stories in Iranian newspapers on Saturday. Reuters has not verified these stories and does not vouch for their accuracy.Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 7:20 am Sberbank to buy GM Russia plant-RIA quotes sourceMOSCOW, June 6 (Reuters) - Sberbank , part of a consortium to buy GM's European assets, will pay 65 million euros ($92.1 million) for GM's assembly plant in St Petersburg, RIA news agency quoted a Sberbank...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 7:05 am Junk rally is driving yields down sharplyThe average annualized yield on an index of 100 junk bonds tracked by KDP Investment Advisors has plunged to 10.53% as of Friday, down from an 18-year high of 17.7% in December. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Weinstein Co. hires consulting firm to restructure its debt and raise fundsThe move, which is likely to further fuel speculation about its financial condition, is portrayed by the film studio as routine. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Stocks end mixed, kept in check by higher jobless rateWith unemployment still rising, investors are questioning whether stocks should be, too.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am U.S. unemployment rate hits 9.4% in May, highest since 1983The Labor Department report offers some hope, however: The 345,000 jobs lost last month are the fewest since September and half the average of the previous six months.The nation's breathtaking pace of job loss slowed significantly in May, bolstering hopes that the worst of the recession is over. But millions of Americans and their families face continued economic pain with the unemployment rate jumping to 9.4%.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am Retail recession spreads to wealthier parts of SouthlandRising vacancy rates that had already hit the Inland Empire are reported in L.A., Ventura and Orange counties, leaving empty storefronts from the deserts to the sea.In the heart of affluent Studio City, "for lease" signs dot the Ventura Boulevard shopping district, and cars zoom past vacant storefronts.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am Weinstein Co. hires consulting firm to restructure its debt and raise fundsThe move, which is likely to further fuel speculation about its financial condition, is portrayed by the film studio as routine.In a move that is likely to further fuel speculation about its financial condition, Weinstein Co. has hired consulting firm Miller Buckfire & Co. to restructure its debt and raise funds to cover operating costs, said a person close to the company.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am Fox Interactive abandons new Playa Vista offices, plans layoffsThe MySpace owner seeks subtenants for its 420,000 square feet near Marina del Rey. The layoffs are part of a restructuring of parent company News Corp.'s digital operations. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Stocks end mixed, kept in check by higher jobless rateWith unemployment still rising, investors are questioning whether stocks should be, too.Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Reality check for U.S. bond bingeHere is the way it was supposed to work: Uncle Sam would borrow and spend trillions of dollars to save the economy and the financial system, but interest rates would stay near rock-bottom and nobody would...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Retail recession spreads to wealthier parts of SouthlandRising vacancy rates that had already hit the Inland Empire are reported in L.A., Ventura and Orange counties, leaving empty storefronts from the deserts to the sea. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Airlines expanding self-serve check-inMany passengers can now check in for a flight and even change or select a seat using their mobile phones. Carriers say it saves time and cuts costs. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am U.S. unemployment rate hits 9.4% in May, a 25-year highThe Labor Department report, however, offers some hope: The 345,000 jobs lost in May are the fewest since September and half the average of the previous six months. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Airlines expanding self-serve check-inMany passengers can now check in for a flight and even change or select a seat using their mobile phones. Carriers say it saves time and cuts costs.More airlines are allowing passengers to check in for their flights using their cellphones and other mobile devices so they can avoid long lines and save time.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am U.S. unemployment rate hits 9.4% in May, highest since 1983The Labor Department report offers some hope, however: The 345,000 jobs lost last month are the fewest since September and half the average of the previous six months. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Reality check for U.S. bond bingeHere is the way it was supposed to work: Uncle Sam would borrow and spend trillions of dollars to save the economy and the financial system, but interest rates would stay near rock-bottom and nobody would worry about the potential side effects of all that spending -- like, say, inflation or a devalued dollar.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am Mattel, Fisher-Price unit to pay $2.3-million penalty for lead content in toysThe penalty is part of an agreement with the Consumer Product Safety Commission stemming from recalls in 2007 of toys with excessive levels of lead. The firms deny having knowingly violated the law. ...Source: RSS feed - channel BNPaperBusiness | 6 Jun 2009 | 7:00 am Fox Interactive abandons new Playa Vista offices, plans layoffsThe MySpace owner seeks subtenants for its 420,000 square feet near Marina del Rey. The layoffs are part of a restructuring of parent company News Corp.'s digital operations.A year after making one of the largest office leasing deals in more than a decade, Fox Interactive Media is abandoning plans to move into nearly a half-million square feet of office space in Playa Vista.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am Junk rally is driving yields down sharplyThe average annualized yield on an index of 100 junk bonds tracked by KDP Investment Advisors has plunged to 10.53% as of Friday, down from an 18-year high of 17.7% in December.Sticking with stocks was a good idea this year. Sticking with junk corporate bonds was an even better idea.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am GM to sell Saturn unit to Penske GroupBut instead of making cars, Penske plans to outsource production, searching for low-cost manufacturers eager to find new markets for their vehicles.With its pending agreement to buy Saturn from bankrupt General Motors Corp., Penske Automotive Group Inc. may be opening the door on a new business model in the rapidly changing auto industry.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am Will iPhone get its bell rung by Pre?Ladies and gentlemen, weighing in at 4.79 ounces, is the new contender for Coolest Phone in the Universe -- the Palm Pre.
Source: L.A. Times - Business | 6 Jun 2009 | 7:00 am E3 bodes well for videogame loversVideogame makers at E3 this week shrugged off the dismal economy, debuting supercharged sequels to blockbuster titles and play that is increasingly social and active. "All three...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 4:53 am Wall Street ponders if rally can run furtherWall Street's three-month surge amid a deep recession has pundits wondering if the rally has gone too far, or is ready for a second wind. Gains over the past week have put the main...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 4:03 am Wall Street ponders if rally can run further (AFP)
Source: Yahoo! News: Stock Markets News | 6 Jun 2009 | 4:03 am Market Snapshot: Stock rally could get a June boostWith a much better-than-expected jobs report under its belt, the market might forge ahead next week, a fairly light one in terms of economic and corporate news.
Source: MarketWatch.com - Top Stories | 6 Jun 2009 | 4:01 am ALL BUSINESS: Bond-market rout lifts mortgage cost (AP)AP - The Federal Reserve announced a $1.2 trillion plan three months ago designed to push down mortgage rates and breathe life into the housing market.Source: Yahoo! News: Business | 6 Jun 2009 | 4:00 am Chrysler-Fiat nears realityAn appeals court Friday upheld Chrysler LLC's plan to exit bankruptcy.Source: Business and financial news - CNNMoney.com | 6 Jun 2009 | 2:34 am Genomma Lab Internacional Acquires Jockey Club Brand- The acquisition of the Jockey Club brand reinforces Genomma Lab's presence in the following categories: ***Hair care products (hair coloring for men and...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 2:27 am Countrywide exec often warned about mortgage risks (Reuters)Reuters - John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.Source: Yahoo! News: Business | 6 Jun 2009 | 1:57 am Countrywide exec often warned about mortgage risksNEW YORK (Reuters) - John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.Source: Reuters: Business News | 6 Jun 2009 | 1:57 am Texas co. buys Filene's Basement at bankruptcy bidAn affiliate of the Houston-based Men's Wearhouse was the successful bidder for the 100-year-old Filene's Basement chain after bidding $67 million for the off-price retailer at a bankruptcySource: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 1:53 am FDIC eyes management shake-up at Citi: reportWASHINGTON/NEW YORK (Reuters) - Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 1:26 am FDIC eyes management shake-up at Citi: reportWASHINGTON/NEW YORK (Reuters) - Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive Vikram Pandit, the Wall Street Journal reported.Source: Reuters: Business News | 6 Jun 2009 | 1:26 am Allegiant to Present at Merrill Lynch Global Transportation ConferenceLAS VEGAS, June 5 /PRNewswire-FirstCall/ -- Allegiant Travel Company (Nasdaq: ALGT) will present at the Merrill Lynch Global Transportation Conference June 11, 2009. A webcast ofSource: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 1:23 am Girls Gone Wild Magazine Hits One-Year Mark With Big Summer IssueLOS ANGELES, June 5 /PRNewswire/ -- One year into publication, Girls Gone Wild Magazine is releasing its biggest and best issue to date. More pages means more girls. And the...Source: RSS feed - channel BNewsBusiness | 6 Jun 2009 | 1:08 am JP Morgan, Goldman among banks set to repay TARPJ.P. Morgan Chase, Goldman Sachs and some other large U.S. banks will likely be given the go-ahead to repay billions of dollars in government money next week, suggesting authorities are more comfortable about the stability of the financial system.
Source: MarketWatch.com - Top Stories | 6 Jun 2009 | 12:13 am Tech Stocks: Techs dip, but Nasdaq posts 3rd week of gainsA late-day rally failed to push tech stocks into positive territory, even though the Nasdaq Composite Index posted its third consecutive week of gains.
Source: MarketWatch.com - Top Stories | 6 Jun 2009 | 12:10 am Couple accused of spying for Cuba for 30 yearsAn espionage saga that involved a well-liked teacher of US diplomats, the illicit use of shopping carts and a much publicised denunciation of the US-UK special relationship took a new turn when the US state department accused a former employee of working as a Cuban spy for almost 30 yearsSource: Financial Times - US homepage | 6 Jun 2009 | 12:09 am Pound slides as Westminster's woes weigh heavilyThe pound tumbled back below $1.60 yesterday, ending a rollercoaster week with a second day of steep losses, as the wave of resignations rocking Gordon Brown's Government put the currency under heavy selling pressure.$ Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Carphone Warehouse decides now is the right time to be especially nice to customersIf you work for Carphone Warehouse, it is going to pay to be nice to your customers. Literally. The company's sales staff are to be paid according to how polite and helpful they are, in an attempt to boost sales in what is a declining handset market. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Action replay as Bollywood returnsBollywood film producers lifted a two-month boycott of India's largest cinema chains yesterday, ending a drought of new releases. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Latvia pressed to push through budget cuts to safeguard neighboursMounting concern about the financial crisis in Latvia spilt over into neighbouring European states yesterday as International Monetary Fund (IMF) and European Union officials negotiated a rescue loan with government officials in Riga. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Sir Victor Blank soldiers on after 'go right now' outburstAngry private investors called on the board of Lloyds Banking Group to step down on Friday at a fiery annual meeting. One irate shareholder in the part-nationalised bank called on Sir Victor Blank, the chairman, to leave “immediately, right now, this minute”. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Rate of job losses drops, raising hopes that US has put worst of recession behind itA sharp drop in the pace of job losses in the United States has further boosted optimism that the American economy is reviving and that the worst of its recession has passed. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am It's 'nonsense' to think that Britain is out of the woods, says head of the IoDThe director-general of the Institute of Directors has warned of the dangers of believing that the British economy is through the worst of the financial crisis. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am South of England leads housing market pick-upThe North-South divide is increasing in the housing market, according to Bellway, one of the biggest housebuilders. The company said yesterday that while its sales in the South, particularly in London, were showing signs of recovery, the North was taking longer. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Sir Alan Sugar has yet to win over the business worldNo one in the business world polarises opinion quite like Sir Alan Sugar. To those with no knowledge of the business scene, he is that multi-millionaire off the telly, the self-made Hackney boy with no qualifications other than those won at the School of Hard Knocks. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Rio Tinto: show some Agincourt spiritIt’s not exactly Agincourt, but the success of institutional shareholders in forcing the Rio Tinto board into a strategic U-turn is quite a victory. For once, disgruntled investors have managed to press a major public company into a volte-face. The mining group’s board has jettisoned a deal with the Chinese and is instead giving its existing shareholders first dibs on a capital-raising. Source: Latest Business News from Times Online | 6 Jun 2009 | 12:00 am Frontrunners bid for AIG aircraft leasing unitA consortium led by Onex and Greenbriar Equity Group has emerged as the frontrunners to acquire AIG’s aircraft-leasing business, International Lease Finance CorpSource: Financial Times - US homepage | 5 Jun 2009 | 11:26 pm Wal-Mart plans buyback, invokes 'new normal'The world’s largest retailer says the new customers, traffic and sales it’s gained from the economic downturn are “permanent and sustainable.”
Source: MarketWatch.com - Top Stories | 5 Jun 2009 | 11:24 pm U.S. job losses slow in May, fueling recovery hopeWASHINGTON (Reuters) - The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.Source: Reuters: Business News | 5 Jun 2009 | 11:20 pm GM reaches deal to sell Saturn to PenskeDETROIT (Reuters) - General Motors Corp has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday.Source: Reuters: Business News | 5 Jun 2009 | 11:19 pm Barclays poised to agree 12bn sale of BGI to BlackRockThe UK bank is poised to agree the sale of its asset management arm Barclays Global Investors to BlackRock for almost 12bn £7.5bn.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 11:12 pm The Pre's soggy debutSource: Business and financial news - CNNMoney.com | 5 Jun 2009 | 11:12 pm Regional bank in Illinois failsBank of Lincolnwood was shuttered by Illinois regulators Friday, bringing the number of failed banks this year to 37 and costing the Federal Federal Deposit Insurance Corp.'s deposit insurance fund $83 million.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 10:56 pm U.S. chicken producers on the mendThe volatile U.S. chicken industry, battered by the bankruptcy of its largest producer late last year, is piecing itself together again.
Source: MarketWatch.com - Top Stories | 5 Jun 2009 | 10:54 pm Weekend Investor: For technology stocks, it's different this timeThe icons of Silicon Valley are older, grayer, and -- if you believe analysts who follow the technology industry -- wiser than they were a decade ago, when the Internet bubble inflated company share prices and corporate egos.
Source: MarketWatch.com - Top Stories | 5 Jun 2009 | 10:53 pm Market Snapshot: Analyst: 13-week surge points to new bull runThe 13-week rally that followed the stock market’s early March lows ranks second only to the surge that began in 1932, with odds favoring a further rise during the next three months, one investment strategist says.
Source: MarketWatch.com - Top Stories | 5 Jun 2009 | 10:53 pm 9 muscle cars we'd missSource: Business and financial news - CNNMoney.com | 5 Jun 2009 | 10:52 pm Top Ten: MarketWatch's top stories of the week, June 1-5It was a historic week, no doubt about it. Even though we have had a number of those in the past 18 months, these past five days certainly stack up.
Source: MarketWatch.com - Top Stories | 5 Jun 2009 | 10:43 pm Wal-Mart unveils big buybackFAYETTEVILLE, Arkansas (Reuters) - Wal-Mart Stores Inc's announced a new $15 billion share repurchase plan on Friday and said market share gains it has made amid the recession are permanent as a "new normal" emerges in which consumers seek to save money.Source: Reuters: Business News | 5 Jun 2009 | 10:40 pm Illinois bank is 37th failure of 2009Lincolnwood, Ill.-based Bank of Lincolnwood is closed by regulators Friday, marking the 37th bank failure of 2009 amid the ongoing credit crunch.
Source: MarketWatch.com - Top Stories | 5 Jun 2009 | 10:36 pm Wall Street ends flat on mixed jobs dataNEW YORK (Reuters) - U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.Source: Reuters: Business News | 5 Jun 2009 | 10:30 pm Wall Street ends flat on mixed jobs data (Reuters)
Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 10:30 pm Wall Street ends flat on mixed jobs data (Reuters)
Source: Yahoo! News: Business | 5 Jun 2009 | 10:30 pm Court upholds Chrysler saleChrysler’s bankruptcy sale plan can go forward as proposed unless a group of pension funds that have challenged it can convince the United States Supreme Court to take up the case by Monday afternoon, a New York court of appeals ruledSource: Financial Times - US homepage | 5 Jun 2009 | 10:27 pm Write-Offs: 06.05.09$$$ "Fans of scapegoating can applaud the SEC's assault on Angelo Mozilo, the former CEO of Countrywide Funding. My guess is that Mozilo, like many mortgage industry executives, was conflicted during the late stages of the housing bubble. On the one hand, they knew that lowering lending standards was imprudent. On the other hand, the loans were performing too well to justify reversing course." [The Atlantic] $$$ Happy Birthdays Pete Peterson and Suze Orman [Cityfile] $$$ IMF: "Where Does The Public Sector End And The Private Sector Begin?" [ZH] $$$ AIG Said to Pick Onex Group as Preferred ILFC Bidder [Bloomberg] $$$ Job of the Week: Morgan Stanley needs an executive director. That could be you! [DB Career Center] 
Sponsored Topics: Angelo Mozilo - Countrywide Financial - Suze Orman - Morgan Stanley - Business Source: Dealbreaker | 5 Jun 2009 | 10:20 pm Presented By:Source: Dealbreaker | 5 Jun 2009 | 10:20 pm Telsey's Forte Sees McDonald's Triumphant in Coffee WarsSource: Bloomberg - All Podcasts | 5 Jun 2009 | 10:18 pm Stocks mixed after jobs reportStocks struggled Friday at the end of another up week for Wall Street as investors welcomed a report showing that the pace of job losses is starting to slow, but showed caution after the market's recent advance.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 10:14 pm Bank Of America (BAC) Makes The Government Happy, Adds New DirectorsIn a sign that the federal government is the puppet master of several of America’s largest banks, Bank of America (BAC) has appointed four new directors with extensive bank management backgrounds. They include Donald E. Powell, a former chairman of the FDIC, Susan Bies, a former member of the board of governors in the Federal [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 10:01 pm Citi capital raising hit by FDIC threatCitigroup had to delay raising $33bn in capital in recent weeks after the Federal Deposit Insurance Corporation threatened to lower a crucial financial health rating as part of the regulator’s drive to replace Vikram Pandit, chief executiveSource: Financial Times - US homepage | 5 Jun 2009 | 10:00 pm Stocks end flat as unemployment rate checks gains (AP)
Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 9:52 pm How the major stock indexes fared on Friday (AP)AP - Stocks ended a volatile Friday little changed after the government reported a surprising drop in job losses for May but also a spike in the unemployment rate to 9.4 percent. It was the highest jobless rate in more than 25 years.Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 9:48 pm Another Peterson Relative About To Embarass The Hell Out Of PeteRemember, back in the heady days of June 2007, when Blackstone co-founder Pete Peterson's daughter Holly wrote the barely beach readable book The Manny, which was promoted by this class-fest of a video, featuring Karen Duffy rapping about the perks of having a male nanny on staff, and included a transvestite maid and a midget? Peterson was said to be horrified by the tome and publicly described Holly as "the most egregious self-promoter in America." So surely he's super-psyched to watch (or not watch) as his grandson, Peter Carey ("PC"), nephew of Holly, stars in Bravo's new reality series, Prep, which is of the same genre as the Real Housewives but follows a bunch of bratty New York teenagers. Let's meet PC, who tells us "the recession is my bitch," now.
Sponsored Topics: New York - Bravo - Real Housewives - Pete Peterson - Reality television Source: Dealbreaker | 5 Jun 2009 | 9:46 pm Avoiding the next big financial crisisThe Obama administration plans to release updated details in the coming weeks to guide Congress on the best way to reshape the nation's financial regulatory system and prevent future collapses.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 9:38 pm Traders keep anxious eye as key indicator offers "buy" signalThe revered indicator has finally hinted at a ‘buy’ signal in a number of the biggest stock marketsSource: Financial Times - US homepage | 5 Jun 2009 | 9:25 pm Does Green Mountain Stay #1 in IBD 100? (GMCR)After looking through last weekend’s print version of Investor Business Daily’s “IBD 100″ it was almost shocking on the surface to see that Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) landed the #1 spot on the highly followed “IBD 100.” After all, Barron’s simultaneously published a story called “BITTER BREW: Green Mountain May Burn Investors.” [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 9:03 pm Steep fall in US job cuts ‘encouraging’A sharp fall in the number of jobs being lost in the US has raised hopes that the world’s biggest economy could be past the worst of the recession and on the road to recoverySource: Financial Times - US homepage | 5 Jun 2009 | 8:58 pm Recovery reality check: Not so fast...The May jobs report, which showed the lowest level of cuts since September, sent stocks slightly higher Friday on more hopes that the economy may soon be on the upswing.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 8:55 pm Congress Wants To Be A Thorn In The Side Of The Fed- Permanently
Congress seeks to open Fed actions to more scrutiny [FT]
Sponsored Topics: Ben Bernanke - Federal Reserve System - Washington - Maxine Waters - United States Source: Dealbreaker | 5 Jun 2009 | 8:53 pm U.S. job losses slow in May, fueling recovery hope (Reuters)Reuters - The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.Source: Yahoo! News: Business | 5 Jun 2009 | 8:50 pm Straight StoryTess Vigeland and economics editor Chris Farrell talk about whether or not the new savings trend will continue and how this recession is different from those in the past.Source: Marketplace Money | 5 Jun 2009 | 8:49 pm Wind River: A Hope For More Money (WIND, INTC)Wind River Systems, Inc. (NASDAQ: WIND) has only been an in-play takeover name for merger investors for about 36 hours after yesterday morning’s announcement from Intel Corp. (NASDAQ: INTC) that it was acquiring the company for $11.50. We noted how there is far more to this merger than meets the eye, and it looks like [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 8:40 pm Gasparino: William Cohan Is A "Danger To Journalism," Took My Calling Him A "Crook" Comment Out Of Context
Sponsored Topics: Charlie Gasparino - CNBC - Lazard - JPMorgan Chase - Business Source: Dealbreaker | 5 Jun 2009 | 8:27 pm Michigan shuts 8 prisons to save $120MMichigan officials said Friday that the state is closing three prisons and five prison camps in hopes of narrowing a $1.4 billion budget gap for fiscal 2010.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 8:27 pm BAC Names New Directors To BoardBank of America has named four outside directors to its executive board. According to the Journal, they are former Federal Reserve Governor Susan Bies; former Federal Deposit Insurance Corporation Chairman Donald Powell; former Compass Bancshares Inc. CEO D. Paul Jones and former Bank One Corp. executive William Boardman. BofA Taps Four Outside Directors [WSJ]
Sponsored Topics: Federal Deposit Insurance Corporation - Federal Reserve System - Bank of America - Compass Bancshares - Finance Source: Dealbreaker | 5 Jun 2009 | 8:19 pm Miners buoyed by rich seam of merger talkFresh talk about a merger between Xstrata and Anglo American was doing the rounds again yesterday following confirmation of Rio Tinto's joint venture deal BHP Billiton.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 8:12 pm Aquafresh earns its stripes at GlaxoSmithKlineGlaxoSmithKline's consumer healthcare business used to frustrate shareholders and bemuse the City. How could Ribena Lucozade and Aquafresh sit comfortably next to some of the world's leading drug research and development?Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 8:08 pm Mattel fined $2.3 million over lead in toysToymaker Mattel Corp. agreed Friday to pay $2.3 million in civil penalties for violating a federal lead paint ban that resulted in the recall of millions of its Barbie, Dora and other popular-branded toys in 2007.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 8:07 pm Diamond eyes seat on BlackRock boardBlackRock of the US is this weekend in the final stages of agreeing a $10bn-plus deal to buy Barclays Global Investors from Barclays, which if agreed would propel Bob Diamond, the high-profile president of the UK bank, to the board of the US money management groupSource: Financial Times - US homepage | 5 Jun 2009 | 8:04 pm Stanford lawyers blast receiver's $20 million requestHOUSTON (Reuters) - Lawyers for Allen Stanford, the Texas financier charged with an $8.5 billion fraud by U.S. regulators, on Friday characterized a $20 million fee request by the case's receiver as "exorbitant," according to a court filing.Source: Reuters: Business News | 5 Jun 2009 | 7:58 pm What's a recent college grad to do?Graduating college is usually a celebratory experience. But saying goodbye to university and hello to real life can be a real burden during a recession. Vigeland talks to author Beth Kobliner about the advice she has for the class of 2009.Source: Marketplace Money | 5 Jun 2009 | 7:55 pm Iceland near to Icesave debt dealIceland's Prime Minister says a deal is close with the UK and Netherlands over frozen savings accounts.Source: BBC News | Business | World Edition | 5 Jun 2009 | 7:52 pm As the wreck of Labour sinks the economy sails on regardlessIf the Government had a share price you can imagine its performance since May 8 when The Daily Telegraph first began its revelations on MPs' expenses. The Wall Street crash? The Downing Street disaster more like.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 7:37 pm Citi's Vikram Pandit on the hot seatIt's starting to look like the spring awakening in bank stocks may not be enough to save the CEOs of America's biggest troubled banks, Citigroup's Vikram Pandit and Bank of America's Ken Lewis.Source: Business and financial news - CNNMoney.com | 5 Jun 2009 | 7:34 pm Oil falls after touching 7-month high (Reuters)
Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 7:32 pm Oil falls after touching 7-month highNEW YORK (Reuters) - Oil fell on Friday as traders took profits from a rally to a seven-month high over $70 a barrel after U.S. employment data showed a slower pace of job losses.Source: Reuters: Business News | 5 Jun 2009 | 7:32 pm Was May the month the UK bounced back from recession?When historians look back at the events of this week they will almost certainly reflect on the irony of it all. The worst seven days in Gordon Brown's career have also transpired to be the best week of economic news since the recession began.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 7:30 pm F&P sells East Tamaki siteFisher & Paykel Appliances has an unconditional agreement to sell and lease back its 14.4ha East Tamaki site and is continuing to market its Cleveland, Brisbane, site. The site in East Tamaki in Auckland is the company's largest...Source: New Zealand Herald - Business | 5 Jun 2009 | 7:30 pm Diageo Raised to `Buy' at Goldman SachsSource: Bloomberg - All Podcasts | 5 Jun 2009 | 7:29 pm Grant Sees Yield on 30-Year Bond Rising to 6%Source: Bloomberg - All Podcasts | 5 Jun 2009 | 7:21 pm GM: Vauxhall rescue deal may be completed by JulyCarlPeter Forster the boss of GM Europe says he hopes to complete a deal to rescue Opel and Vauxhall by July but has warned that "much could happen along the way".Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 7:18 pm Part-time is better than no-timeWe've reported on the unemployment rate, but what about those who are underemployed? Many people are having difficulty finding jobs offered full-time. Ashley Milne-Tyte reports.Source: Marketplace Money | 5 Jun 2009 | 7:17 pm Call to Arab states on Israel linksBarack Obama called on Arab states to show willingness to set up diplomatic and commercial ties with Israel in return for “tough commitments” from the Jewish state as he reinforced his determination to launch a fresh drive to broker Middle East peaceSource: Financial Times - US homepage | 5 Jun 2009 | 7:17 pm Energy and metal prices remain buoyantCrude oil prices rose above $70 a barrel, hitting a fresh seven-month high, propelled by better than expected economic indicators and a bullish view from Goldman SachsSource: Financial Times - US homepage | 5 Jun 2009 | 7:13 pm Can't refinance? Try your congressman (AP)
Source: Yahoo! News: Business | 5 Jun 2009 | 7:13 pm This Week’s LinksStreet Knowledge Media on the e-cigarette. Graphic Design Blog has a list of 25 logos with hidden messages. The SEC accuses former Countrywide CEO Angelo Mozilo of fraud. Who’s next? Young people don’t use Twitter. Is that a problem? Hardly.
Source: Business Pundit | 5 Jun 2009 | 7:11 pm The Tax Man Is Looking For A New Target And This Time It's VC
The carry VC firms make is currently taxed at the capital gains rate of 15%. Mark Hessen, the president of the National Venture Capital Association, says there is a risk of this jumping to the ordinary income rate of 38%.
Sponsored Topics: Venture capital - Deficit - Gross domestic product - Capital gains tax - Tax Source: Dealbreaker | 5 Jun 2009 | 7:09 pm The new stocks on the Dow Jones blockGeneral Motors and Citigroup were booted from the Dow Jones index this week. So what's it like for the new kids, Cisco Systems and Travelers? Our Marketplace Players imagine a possible classroom scenario.Source: Marketplace Money | 5 Jun 2009 | 7:09 pm Iceland close to £3.3bn UK loan for Icesave compensationIceland has almost agreed the terms of a £3.3bn loan from the UK Government to cover the cost of compensation for British savers who lost money when Icesave collapsed.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 7:06 pm Fame ? fortune:Hotel Babylon author Imogen EdwardsJonesImogen EdwardsJones 40 is the author of 'Hotel Babylon' which was adapted into a successful BBC One TV series.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 7:05 pm Andy Madoff Cries Like A Fish
Andrew, who reportedly fell to the floor, sobbing, when his father broke the news in his kitchen on Dec. 10, has called the Ponzi scheme "a father-son betrayal of biblical proportions" and claims that he and his brother were blindsided by the news. After his father broke the news--and after he presumably got up off the kitchen floor--a near-catatonic Andrew went right to bed, without even taking off his coat or crotchfish, and stayed there for four hours, completely still. Since his father went to jail, his mood has brightened some, according to his friend Alexandra Lebenthal. Earlier: Madoff Son Now Knows What It's Like To Be A Black Man In America
Sponsored Topics: Ponzi scheme - Bernard Madoff - Television - Arts - Madoff Bernard L Source: Dealbreaker | 5 Jun 2009 | 7:01 pm Rosenberg Sees 30% Net Worth Loss in U.S. HouseholdsSource: Bloomberg - All Podcasts | 5 Jun 2009 | 6:58 pm Oil prices head back towards $70Prices break through $70 a barrel, a new seven-month high, amid fresh economic hopes and rising stock marketsSource: BBC News | Business | World Edition | 5 Jun 2009 | 6:55 pm Is MSNBC Ready For Dylan Ratigan?Visit msnbc.com for Breaking News, World News, and News about the Economy He starts in an official capacity on June 29, in the 9-11AM timeslot (where he'll compete for viewers with former colleagues Mark Haines and Erin Burnett, meaning someone's going to have to flash their tits and we hope it's Haines), but D.Rat's started working out with the team already. You know, so as to not get rusty and find his groove at the new office. How's it going so far? We've only caught this one clip but it doesn't seem too good! While his new and old employer both fall under the GE umbrella, they are apparently but distant cousins when it comes to style (so barely related that, in a pinch, could take each other to prom and it wouldn't be that weird...Dennis Kneale knows what we're talkin' about).
Sponsored Topics: Breaking News - World News - MSNBC - Mark Haines - Erin Burnett Source: Dealbreaker | 5 Jun 2009 | 6:53 pm Engaging in extreme frugalityEven those living in quite comfortable surroundings are embracing a new frugal chic attitude. Maine-based author W. Hodding Carter and his family are experimenting in being ultra-frugal for an entire year and documenting it all on Gourmet.com.Source: Marketplace Money | 5 Jun 2009 | 6:52 pm Getting PersonalTess Vigeland and economics editor Chris Farrell answer listeners' pressing questions about debt settlement companies, the state of GM's pension funds, how closing a bank account affects FICO and much more.Source: Marketplace Money | 5 Jun 2009 | 6:50 pm Pound slides on political turmoilThe pound falls against the dollar and euro, hit by uncertainty over the UK's political situation after more ministers resign.Source: BBC News | Business | World Edition | 5 Jun 2009 | 6:48 pm Political chaos see pound take a tumbleThe Cabinet's rebellion against Gordon Brown wiped more than 5.5 cents off gains the pound made against the dollar earlier in the week..Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 6:39 pm Cut the cost of mobile calls in EuropeVodafone has ended roaming charges in Europe but how much do you pay with the other network when making calls on the Continent.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Jun 2009 | 6:31 pm Infratil approached over Brisbane assetA consortium of private equity funds is investigating the acquisition of Brisbane-based Energy Developments, in which infrastructure investor Infratil has a stake of about 32 per cent. Infratil confirmed it had been approached...Source: New Zealand Herald - Business | 5 Jun 2009 | 6:30 pm Shepherdson Says U.S. Economy Isn't Moving to V-Shaped ReboundSource: Bloomberg - All Podcasts | 5 Jun 2009 | 6:28 pm Brown defies critics: ‘I will not walk away’Gordon Brown defied calls to quit as Britain’s PM and tried to regain control of his administration, amid government resignations and disastrous local election resultsSource: Financial Times - US homepage | 5 Jun 2009 | 6:16 pm Opel deal in flux, Fiat still interestedTURIN, Italy (Reuters) - Signs emerged on Friday that Canada's Magna could face challenges to its deal for GM's European unit Opel as Fiat SpA said it was still interested and Germany invited rival bidders to improve their offers.Source: Reuters: Business News | 5 Jun 2009 | 6:13 pm Dave Ramsey on our love of debtBeing in debt used to be a social stigma, but now it seems to be the American way. Tess Vigeland talks to Dave Ramsey, author of "Total Money Makeover," about how America became a nation of borrowers in love with credit.Source: Marketplace Money | 5 Jun 2009 | 6:12 pm Job fairs: all work and no pay?There may be job fairs popping up in every major city, but many are offering only internships or volunteer positions and few paid jobs. However, working for free now could put you ahead down the line. Lisa Napoli reports from UCLA.Source: Marketplace Money | 5 Jun 2009 | 6:12 pm Trennert Says U.S. Recovery Won't Be Classic V-ShapeSource: Bloomberg - All Podcasts | 5 Jun 2009 | 6:03 pm We've Got A New Fugitive!A Credit Suisse broker charged with fraud related to auction rate securities in 2008 has picked up where Marcus Schrenker, who plead guilty today, left off and we are so grateful. Julian Tzolov has been classified under fuge-status, with prosecutors saying he's been missing from his home, where he was placed under house arrest, since May 9. Hopefully we're not jumping the gun for a second time in less than a year when it comes to JZ, as it was just last July that the Journal was all "Julian Tzolov has maybe fled to Bulgaria." Everyone pray he'll do it up right, incorporating airplanes, death fakes, inter-species sex and more.
Sponsored Topics: Bulgaria - Credit Suisse - Marcus Schrenker - Auction rate security - Plea Source: Dealbreaker | 5 Jun 2009 | 6:02 pm Hear: Secrets Of The WatchmenOn today's Planet Money: We're launching our fourth special this weekend on This American Life -- on some stations, you can start hearing it as early as tonight. The show is all about the people and agencies who were supposed to be watching out for the economy, and why all that watching somehow failed to stave off the financial crisis. Chana Joffe-Walt and David Kestenbaum reveal two fascinating bits you won't hear anywhere else. The first concerns Darrel Dochow, a regulator whose tenure stretched from a bank at the heart of the Keating Five scandal to the collapse of IndyMac. The second is about Mabel Yu, a bonds analyst who tried to warn her company to stop buying mortgage-backed securities. Plus, an interview with Jon Swan, one of the Harvard students behind the MBA Oath, and a farewell to our fabulous editor Jonathan Kern, who's retiring. He has some advice for you. Bonus: Deer on the lawn as economic indicator. Download the podcast; or subscribe. Intro music: Vitamin C's "Graduation (Friends Forever)." Find us: Twitter/ Facebook/ Flickr. 
Enlarge the picture and find the deer. From the San Francisco Bay Area, Enrique sends the picture above and writes : We live in a 1000 sq. ft. duplex apartment in a neighborhood of 5000 & 10,000 sq. ft. mansions (not McMansions, this is Mill Valley, CA ... genuine rich people). One nearby home appears to have been abandoned in mid-renovation as it went from 1950s ranch to 2008 swank. We've seen as many as 8 deer grazing in the back yard of the stalled construction. There's a doe resting at the bottom right below, and the floor-less shell of the house at top left. It's been suggested that this might've been a 2nd home the owners intended to rent, but the money suddenly ran out. Half-Built America, y'all. Keep those photos coming, please. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Jun 2009 | 5:56 pm Oil, global stocks gain on strong U.S. jobs data (Reuters)
Source: Yahoo! News: Business | 5 Jun 2009 | 5:40 pm Oil, global stocks gain on strong U.S. jobs dataNEW YORK (Reuters) - Global stocks edged higher and the U.S. dollar gained against the euro and yen on Friday after the pace of U.S. job losses slowed sharply in May, adding to growing sentiment that the economic slowdown may be turning.Source: Reuters: Business News | 5 Jun 2009 | 5:40 pm High Tech, Low GDP
It's hard out there for a high-tech manufacturer. Glenn Stevens Glenn Stevens, the governor of the Reserve Bank of Australia, plotted some interesting numbers in a report yesterday. According to his research, the more a country's economy relies on manufacturing high-tech goods, the harder its GDP got hit by the recession. Many of the Asian countries on the right side of that chart are where American tech companies outsource their manufacturing of products like computer chips -- and demand has been down since the chip market began to crash in January. It's another sign of the developing world getting hit harder by the global recession. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Jun 2009 | 5:40 pm Floating wind turbine launchedThe world's first floating wind turbine is to be towed out to sea off the coast of Norway this weekend.Source: BBC News | Business | World Edition | 5 Jun 2009 | 5:38 pm Tilman Sees `Significant Risks' to U.S. RecoverySource: Bloomberg - All Podcasts | 5 Jun 2009 | 5:35 pm Scraping by while unemployedThe national unemployment rate has reached a depressing 9%, but states like Oregon and South Carolina have it even worse. We talk to unemployed workers from these states to see how they're making ends meet.Source: Marketplace Money | 5 Jun 2009 | 5:31 pm Dow Jones Sheds More MetalThis week the Dow Jones Industrial Average dropped General Motors and Citigroup from its index. The Dow Jones Industrial Average uses the stock prices of 30 companies to gauge the health of America's industrial sector. GM was replaced by Cisco Systems. Citi's spot went to Travelers Companies. Which is ironic, seeing as Citi used to own Travelers. In fact, Citi got its corporate identity from Travelers -- the red umbrella (check out a cool video about Citi's designer Paula Scher). Two years ago, they split and Citigroup sold the red umbrella logo back to Travelers. The Dow is looking distinctly unindustrial these days. Back in 1999 it ditched Chevron, Goodyear Tire & Rubber and Union Carbide for Intel, Microsoft and and what's now AT&T. Moving from GM to Cisco seems like another big step toward a long list of high-tech companies. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 5 Jun 2009 | 5:30 pm Trade down 5.9pc in March qtrSeasonally adjusted total wholesale trade sales fell a record 5.9 per cent, or $1.3 billion, for the March quarter, Statistics New Zealand said. That was the largest quarterly fall in total sales since the series started in 1995,...Source: New Zealand Herald - Business | 5 Jun 2009 | 5:30 pm Recession spurs saving trendAmericans are saving an average of 5% of their incomes--up from zero a year ago--now that credit is tight and layoffs are looming. Joel Rose reports.Source: Marketplace Money | 5 Jun 2009 | 5:22 pm Nuclear EconomicsScienceFriday today will tackle the economics and politics of nuclear power. Reactors cost billions of dollars to build. SciFri's got Stewart Brand on the guest list who has been urging other environmentalists to get behind nuclear power as a way to address climate change. AFP reports that Sweden also just picked a site to bury its waste, near the town of Oesthammar. Two towns were actually competing for that privilege. "Public acceptance in both towns hovered around 80 percent." The report says Sweden recently changed its mind on nuclear power. It was going to phase out the country's reactors. But with concerns about global warming, the government will now allow the existing plants to be replaced when they get old. I visited the town where France plans to store its waste. Some nice nuclear activists there made me tea on a wood-burning stove. President Obama has put the brakes on the only long-term plan for storing waste in here in the U.S. It was a delicate issue for him on the campaign. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Jun 2009 | 5:19 pm Wardell Sees Oil Price Moving `Back Down to Earth'Source: Bloomberg - All Podcasts | 5 Jun 2009 | 5:13 pm Small talk: Pesticides, robots, JapaneseMarketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers George Judson, Amy Scott and Stacey Vanek-Smith about their favorite under-the-radar business stories this week: Pesticide industry protesting, robotic farmers, and bureaucratic training in Japan.Source: Marketplace | 5 Jun 2009 | 4:55 pm Turning the recession into fictionJohn Steinbeck took Great Depression hardships and turned them into 'The Grapes of Wrath,' an American masterpiece. Now some novelists are at work on books that involve our own economic woes. Ashley Milne-Tyte reports.Source: Marketplace | 5 Jun 2009 | 4:55 pm Are states fixing benefits programs?State jobless programs are billions of dollars in debt, which could spell disaster for unemployment benefits. Mitchell Hartman talks with Tess Vigeland about whether states can turn their programs around.Source: Marketplace | 5 Jun 2009 | 4:55 pm Weekly Wrap: Recovery roadblocksThe Atlantic's Megan McArdle and Reuters blogger Felix Salmon talk with Tess Vigeland about what may hamper our economic recovery, Treasury Secretary Tim Geithner's trip to China, and provide a reality check on the economy.Source: Marketplace | 5 Jun 2009 | 4:55 pm Competition doesn't always cut itCompetition is considered healthy, but it doesn't always produce the best result. Commentator K.C. Cole says another strategy may help you finish first.Source: Marketplace | 5 Jun 2009 | 4:55 pm Housing numbers don't tell whole storyMany of our current economic woes can be blamed on the housing market. And it turns out the worst may not be over in the housing sector. Jeremy Hobson reports.Source: Marketplace | 5 Jun 2009 | 4:55 pm GM to help firm buy Delphi with capitalGeneral Motors will help a private-equity firm buyout bankrupt auto-parts company Delphi with some of the $30 billion it will receive from the government. Bob Moon reports.Source: Marketplace | 5 Jun 2009 | 4:55 pm Mixed signals on jobless numbersUnemployment hit its highest rate since 1983, though the pace of layoffs let up in May. So have we turned a corner in this recession? Janet Babin reports.Source: Marketplace | 5 Jun 2009 | 4:55 pm 'Wage Gains Tanking'You can file this under Purely Anecdotal, but I find it noteworthy: Of the three people Planet Money has followed through the process of losing work and finding a new job, each one has taken what amounts to a pay cut in the new job. Terri Weiss, an educational proofreader laid off in Ohio, found another gig at roughly the same pay, except that the new company was under a temporary salary reduction. Noel Paterson, a game developer in Washington state, found new work at about 10 percent lower pay. Daniel Cross, a circuit designer in Florida, found a new job and a 25 percent smaller salary. "I'm happy to get it," he says, echoing what the others told us about their situations. Here's something you can file under Actual Statistics: Workers are losing the ground they've gained in wages. In the latest Employment Situation Report, the Bureau of Labor Statistics says hourly wages grew by .1 percent over the last month, the same as the previous report. That's compared to a trend of .3 percent per month in the summer of 2008. "Doesn't sound like much change," Ian Shepherdson of High Frequency Economics writes to us, "but annualized that's the difference between year-over-year rises of just over 1 percent and 3.5 percent, which is huge." Or as Shepherdson put it in an earlier note, "Why would companies hire? Unemployment horrific, wage gains tanking. Less bad, yes; good, no." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Jun 2009 | 4:52 pm Palomar’s Chance To Take Away from BOTOX (PMTI, JNJ, AGN)Palomar Medical Technologies Inc. (NASDAQ: PMTI) is seeing shares surge to new heights not seen in 18-months. The company is the first to receive FDA approval for over-the-counter clearance for a new, patented home use laser device that for the treatment of periorbital wrinkles (for eyes, like crows feet). The beauty of this, no pun [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 4:49 pm Sir Alan hired in government roleSir Alan Sugar is made enterprise tsar by prime minister Gordon Brown in the cabinet reshuffle.Source: BBC News | Business | World Edition | 5 Jun 2009 | 4:37 pm Changes at KiwibankKiwibank chief executive Sam Knowles will fill in as New Zealand Post Group chief executive but is not seeking the role permanently. NZ Post chief executive John Allen is leaving to become Secretary of Foreign Affairs and Trade....Source: New Zealand Herald - Business | 5 Jun 2009 | 4:30 pm FTSE 100 finishes week strongly (AFP)
Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 4:05 pm Buckle your seatbelts for airfare warThe last big shakeup in domestic aviation was marked by a waiata and haka. Air New Zealand staff throughout the country laid out the welcome and issued the challenge to newcomer Pacific Blue on a warm early summer day two years...Source: New Zealand Herald - Business | 5 Jun 2009 | 4:00 pm Zespri responds to monopoly barbsKiwifruit exporter Zespri is defending its record in the face of criticism by Turners & Growers that industry rules are outdated and monopolistic. Turners & Growers chairman Tony Gibbs, speaking at this week's annual meeting, said...Source: New Zealand Herald - Business | 5 Jun 2009 | 4:00 pm ING to explain its 'final offer' to investorsING will next week front up to investors in its frozen credit funds for the first time to explain the details of its latest "final"offer. It has been a long and anxious wait for the more than 13,000 investors who have had their...Source: New Zealand Herald - Business | 5 Jun 2009 | 4:00 pm Bridgecorp 'crippled' 3 months before endRod Petricevic's Bridgecorp was a "crippled vessel" by March 2007 - three months before it collapsed - a fact Petricevic and fellow director Rob Roest worked to hide from investors, its trustee and authorities, a Companies Office...Source: New Zealand Herald - Business | 5 Jun 2009 | 4:00 pm Brian Gaynor: Investors didn't know money could sail awayThe failure of Credit Sails, where investors have lost more than 98 per cent of their money, is another indictment of the New Zealand investment sector. Risk and failure are part and parcel of the investment world but the problem...Source: New Zealand Herald - Business | 5 Jun 2009 | 4:00 pm Rio Tinto scraps Chinalco dealAnglo-Australian miner Rio Tinto yesterday scrapped its US$19.5 billion ($30.5 billion) deal with Chinese firm Chinalco, choosing instead to raise US$15.2 billion in a share sale and setting up a joint production venture with rival...Source: New Zealand Herald - Business | 5 Jun 2009 | 4:00 pm Hatheway Sees `Significant Headwinds' for U.S. EconomySource: Bloomberg - All Podcasts | 5 Jun 2009 | 3:50 pm GM reaches deal to sell Saturn to Penske (Reuters)
Source: Yahoo! News: Business | 5 Jun 2009 | 3:49 pm Haynes Sees Pressure Building for Early U.K. ElectionsSource: Bloomberg - All Podcasts | 5 Jun 2009 | 3:31 pm Krispy Kreme, Dunkin Donuts Celebrate National Donut Day with Freebies
National Donut Day, which happens the first Friday of every June, offers people the chance to pick up–you guessed it–a free donut. Head to your local Krispy Kreme for one free glazed donut, or buy a drink at Dunkin Donuts and get a free donut for your troubles. Most donut shops around the country are celebrating the holiday, which originated during WWI when Salvation Army volunteers fed donuts to front line soldiers. According to Newsday, donuts were often fried inside of soldiers’ helmets. So hit up your favorite donut shop for a freebie. If you’re civic-minded, look for a donut shop that’s also donating to the Salvation Army today. Some are. Happy munching!
Source: Business Pundit | 5 Jun 2009 | 3:30 pm BLS Denies Rumors of Payrolls Data ErrorsIt is not too unusual for rumors to circulate that certain components of economic data contained errors or were just wrong in an instance where the actual number is so far off from expectations. This morning there was a rumor that the jobs data on the non-farm payrolls had an error. The market was expecting [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 3:08 pm GM in deal to sell Saturn brandGeneral Motors has agreed a deal to sell its Saturn brand and dealer network to former race car driver Richard Penske.Source: BBC News | Business | World Edition | 5 Jun 2009 | 2:58 pm Wal-Mart’s Mother of All Buybacks (WMT)Wal-Mart Stores Inc. (NYSE: WMT) gave shareholders a surprise at this morning’s annual shareholder meeting. The retail giant announced that it was going to repurchase up to $15 billion worth of common stock. This program will replaces the previous $15 billion program that was announced June 1, 2007. The prior program had approximately $3.4 billion of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 2:57 pm Microsoft (MSFT) May Have Passed Yahoo! (YHOO) For No.2 Search SlotMicrosoft (MSFT) has been fighting for years to be taken seriously in the online search engine business. It plans to have a strong foothold have been undermined with each new measurement of US search market share. Most research services show Google (GOOG) with about 65% of the market, Yahoo! (YHOO) with 20% and Microsoft with [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 2:47 pm Pace of US job cuts slows in MayUS employers cut 345,000 jobs in May, the Labor Department said, far fewer than expected.Source: BBC News | Business | World Edition | 5 Jun 2009 | 2:16 pm First Community Bancshares, A Bad Secondary Pricing That Isn’t So Bad (FCBC)First Community Bancshares, Inc. (NASDAQ: FCBC) looks as though it gave away the store in a secondary offering pricing, but when you look at the dilution it is actually not as bad as it may seem. This banking company decided to sell 4.6 million shares at a price of $12.50 per share. Another bank is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 1:51 pm This Week’s Weird Jobs
1. LA: Brad Pitt Type Needed Seeking a Brad Pitt Look-a-like. Have you had people you say look like or kind of resemble Brad …This is prestigious work, and much better than bartending/waiter while striving for your big chance in acting! I don’t know about you but those job’s are to time consuming. I am a professional Angelina Jolie Look-a-like. Today I work with many agencies, unfortunately I’ve have had to decline on many assignment’s as my previous Brad relocated out of state, Now I am seeking an Brad Pitt look-a-like to work with me exclusively. I MUST COMPLETE THE PACKAGE OF BRANGELINA. All inquiries will be considered Beautiful.
We have way too much gold. Please help us sell it. 3. Toronto: good life in canada Come to canada thru the best Lawyer , best rates, canadian lawyer files for you directly in canada. Please send contact info/resume/ phone number, to get to move in the best direction Why isn’t there a similar ad for the US? Job in hand in 3 years, maybe. No health care, but that’s ok, the government warranties your new car for you… 4. LA: A Good transporter Strong resemblance to Jason Statham a plus.
If you are a sonographer, with at least 1 year experience, then consider the adventure of a lifetime in beautiful Alberta, Canada. Think Rocky Mountains, Banff, Lake Louise, Jasper National Park, the Calgary Stampede, Grizzly Bears (hey - the aren’t poisonous!) Salaries range from $64-$85K Canadian. Grizzles aren’t poisonous, but they will tear your face off at the slightest provocation. Surely that counts for something. Happy Friday!
Source: Business Pundit | 5 Jun 2009 | 1:45 pm MarkWest Secondary Discounting Takes A Toll (MWE)MarkWest Energy Partners, L.P. (NYSE: MWE) has priced its public offering of 2.9 million common units at an offering price of $18.15 per common unit. While all funds are being used for the right purposes, this discounting may create an issue in this partnership’s uptrend we have seen. The use of net proceeds from the offering, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 1:29 pm Video: '200 Years That Changed The World'I have to say, a lot of those fancy info-graphic data-visualization techniques, designed to make numbers and statistics easier to absorb, often just leave me confused. The video above from the folks at gapminder.org is an exception. I love how Rosling has to narrate the graph as it's changing, like he's a baseball play-by-play announcer. (And I love his accent.) You can play with the graph here. I think the danger with these things is that the presentation looks so slick you forget to question the underlying assumptions. It bugs me when people display data without giving any sense for the precision. (Do we really know what China's per-capita income was in 1832?) Thanks to my colleague Joanne Silberner for the links. She saw one of these presentations at a conference and said it was the first time she'd seen slides get a round of applause. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Jun 2009 | 1:28 pm World markets surge after strong US jobs data (AP)
Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 1:14 pm World markets surge after strong US jobs data (AP)
Source: Yahoo! News: Business | 5 Jun 2009 | 1:14 pm Rig Counts and Oil Price Chasing (BHI, USO, OIL)Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for May 2009 and it looks like the endless slide we saw all of 2009 is being confirmed as either over or at least severely moderating on the international front. The count is the U.S. and Canada is still lower, but the most recent [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 5 Jun 2009 | 1:01 pm Lloyds faces ire of shareholdersShareholders in Lloyds are venting their anger over the merger with HBOS at the bank's annual meeting.Source: BBC News | Business | World Edition | 5 Jun 2009 | 12:57 pm General Motors in Print: 4 Very Different Takes
It may be the end of an era, but General Motors will live on. In a way, the history of a mammoth American corporation is like the history of America itself. Check out these titles to learn more about GM. My Years with General Motors, by Alfred Sloan - Personal account of Alfred P. Sloan Jr., CEO of General Motors from 1923 to 1946. Originally published in 1964. Sloan is considered to be the father of modern systematic organization and management. It’s no modern memoir. This book is the account of Alfred P. Sloan Jr. the professional manager, not the man, but it’s a perenial bestseller and if you like to read business school lessons you’ll love it. Billy, Alfred, and General Motors, by William Pelfry - This biography of the two founders of General Motors, Billy Durant and Alfred Sloan, takes the reader back to the good old days when what was good for General Motors was good for America. Pelfrey keeps the story modern by comparing the early days of the auto business to Silicon Valley where money flowed freely and fortunes were made. This is the story of two men - Durant, who died penilessin penury, supported by old GM partners while attempting to launch a bowling and fast food empire, and Sloan, who’s name graces a major business school. Publishers Weekly calls Pelfrey’s book “an engrossing account of the fledgling days of the American auto industry; a bumpy, surprising and entertaining ride.” On a Clear Day You Can See General Motors, by Patrick J. Wright - This book details John DeLorean’s rise through General Motors, and his ultimate exit. It’s a classic tale of corporate mismanagement, inefficiency, illegal tactics and blatant disregard for the public interest. Written in 1990, this book reveals the inner workings of General Motors and is applicable to many corporations. It delves into DeLorean’s thought processes, how he ran two divisions at GM, turning around errors and problems intelligence and common sense. The Art and Color of General Motors, by Jonathan Stein - Very cool photographic history of the car maker with over forty GM cars photographed by Michael Furman. This book covers the history of GM’s Art and Colour Division, which was started in 1927 by Alfred Sloan with Harley Earl in charge of styling. Image Credit: Amazon
Source: Business Pundit | 5 Jun 2009 | 12:20 pm UK economy is 'shrinking faster'Construction industry data may mean the UK economy shrank more than thought in early 2009, figures suggest.Source: BBC News | Business | World Edition | 5 Jun 2009 | 12:10 pm Boeing sees orders fall sharplyBoeing says orders in May were down more than 70% from a year earlier after airlines cancelled or delayed plans for new planes.Source: BBC News | Business | World Edition | 5 Jun 2009 | 11:57 am With Jobless Rate At 9.4 Percent, Finding Work Takes AwhileUnemployment RatePercent of U.S. workers age 16 and older Unemployment hit 9.4 percent in May, the Bureau of Labor Statistics reports. That's compared to 8.9 percent in April and higher than the 9.2 percent some economists expected. The broadest measure of unemployment -- U-6, which includes people who'd like a job but have given up looking -- reached 16.4 percent, up from 15.8 percent in May. Howard Rosen of the Peterson Institute for International Economics sent over a series of charts this week on the current labor market. The theme? As a recession eases, joblessness lingers -- the old "lagging indicator" effect. He writes that in our current market, it may be getting harder to find a job: "Forty-seven percent of UI recipients exhausted their assistance before finding a new job in April," Rosen notes. "Twenty-seven percent of unemployed are unemployed for more than 27 weeks." As of May, the average job search was clocking in at 22.5 weeks. That's up from 21.4 in April. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Jun 2009 | 11:48 am London stocks advance (AFP)
Source: Yahoo! News: Stock Markets News | 5 Jun 2009 | 11:38 am Diversify, Even When it’s Weird
Source: Business Pundit | 5 Jun 2009 | 11:23 am
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