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Obama's summer jobs plan: work for 600,000 peopleIn a meeting today with the Cabinet, the president will announce plans to tap into the $787-billion stimulus to create jobs, with 10 major projects to be implemented in the next three months.President Obama today promised to deliver more than 600,000 new jobs this summer with accelerated spending of some of the $787-billion economic stimulus that Congress approved at his urging earlier this year.
Source: L.A. Times - Business | 9 Jun 2009 | 7:00 am Report Dims The Lights For Solar
If you're looking for solar, it's way down at the bottom. Alan Cordova Alan Cordova writes: This spring, the Department of Energy updated the Annual Energy Outlook, which forecasts the prices and volumes of the energy we generate and consume, to reflect the provisions in the American Reinvestment and Recovery Act. Over the next two decades, the outlook projects that two renewable sources, wind and biomass, will generate four and 13 times as much energy, respectively, as they currently do. By 2030, according to the estimate, they will account for 44 percent of all renewable energy (hydropower will still be king at 48 percent). For all the buzz surrounding solar power -- soon after taking office, President Obama made a visit to Denver-based Namaste Solar's field of photovoltaic generators -- it is not predicted to make much of an impact. Note: the outlook does not include solar power systems not connected to an electrical grid, such as a rooftop installation in a remote mountain home. The DOE says those will never account for more than 16 percent of domestic energy consumption. After the jump, what's winning big. 
Coal, coal and more coal. Alan Cordova In a word, coal. Check out the vertical axes on the two charts -- there's a tenfold difference between the tick marks. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Jun 2009 | 3:05 pm Lying Billionaire Says UBS Lied About His Ability To Lie To The IRS
Sponsored Topics: Internal Revenue Service - UBS AG - Banking in Switzerland - Business - Tax Source: Dealbreaker | 8 Jun 2009 | 3:04 pm The Silver Lining To Madoff's Scam
Sponsored Topics: Bernard Madoff - Parenting - Home - Family - Ponzi scheme Source: Dealbreaker | 8 Jun 2009 | 2:33 pm Resounding victory for Europe's centre-rightCentre-right parties celebrated a resounding victory in elections to the European parliament that underlined the resilience of the European model of welfare state capitalism in the face of the worst recession since the 1930sSource: Financial Times - US homepage | 8 Jun 2009 | 2:15 pm Stocks fall ahead of gov't report card on banks (AP)
Source: Yahoo! News: Stock Markets News | 8 Jun 2009 | 2:14 pm U.S. job market stronger: Conference Board (Reuters)Reuters - The U.S. job market strengthened in May for the first time in 16 months, indicating that while job loss figures remain deep in the woods a recovery, albeit slow, is in sight, a research group said on Monday.Source: Yahoo! News: Business | 8 Jun 2009 | 2:09 pm Berlin rejects loan request from retailer ArcandorGerman officials on Monday rejected a request by troubled retail group Arcandor for state loan guarantees, as the leading shareholder in travel agency Thomas Cook lurched towards...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:05 pm Berlin rejects loan request from retailer Arcandor (AFP)
Source: Yahoo! News: Business | 8 Jun 2009 | 2:05 pm S&P lowers Ireland long-term credit to AAFor the second time in three months, Standard & Poor’s Ratings Service on Monday dropped Ireland’s long-term sovereign credit rating, saying the nation’s credit outlook remains negative owing to the fiscal cost of supporting a crippled banking system.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 2:04 pm Stocks fall ahead of report card on banksNEW YORK -- Investors turned away from stocks ahead of the latest government report card on banks.
Source: L.A. Times - Business | 8 Jun 2009 | 2:04 pm Columbus, GA-based Anheuser-Busch Wholesaler, B & B Beverage Company, to Distribute One-of-a-Kind 'Extreme Relaxation'(TM) Beverage, drank(TM)Local Distributor Bringing New Relaxation Beverage Trend to Residents of Muskogee, Talbot, Marion and Chattahoochee Counties HOUSTON and...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:02 pm American flight will test fuel-saving tricksAmerican Airlines will test fuel-saving technology and tactics on a Paris-to-Miami flight this week that the carrier and federal officials hope will help make the case for a new navigation...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:01 pm Obama's financial fix minefieldThe 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 | 8 Jun 2009 | 2:00 pm EASi Adds Section 16 Notifications and ReportsIncludes Event Log and Email Notification PLEASANTON, Calif., June 8 /PRNewswire/ -- Equity Administration Solutions, Inc. (EASi), the leading independent stock...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:00 pm Steel Dynamics Announces Pricing of Common Stock and Convertible Senior NotesFORT WAYNE, Ind., June 8 /PRNewswire-FirstCall/ -- Steel Dynamics, Inc. - (Nasdaq: STLD) announced that it has priced its public offerings of common stock and...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:00 pm The Conference Board Employment Trends Index (ETI)(TM) Edges Up for the First Time in 16 MonthsNEW YORK, June 8 /PRNewswire/ -- The Conference Board Employment Trends Index (ETI)(TM) saw a small uptick in May. The index now stands at 89.9, increasing 0.2 percent from the...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:00 pm Tracy L. Rich Joins Guardian as Executive Vice President, General Counsel and Corporate SecretaryNEW YORK, June 8 /PRNewswire/ -- The Guardian Life Insurance Company of America (Guardian) today announced that Tracy L. Rich will join the company as Executive Vice President,...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 2:00 pm Treasury prices mixed ahead of new debtTreasury prices were mixed Monday as U.S. stock futures pointed to a lower open and the market braced itself for a busy issuance week.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 1:57 pm Obama's summer jobs plan: work for 600,000 peopleIn a meeting today with the Cabinet, the president will announce plans to tap into the $787-billion stimulus to create jobs, with 10 major projects to be implemented in the next three months. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 1:57 pm Securities overseers meet in Tel Aviv amid turmoilAmid unprecedented turmoil in the global financial markets, the world's top securities regulators meet in Tel Aviv this week to grapple with an agenda including their roles in and responses to the global economic crisis, how to approach corporate governance, and the effects of the crisis on emerging markets.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:57 pm Stocks tumble as week beginsStocks slumped early Monday as investors took a step back after three months of gains and ahead of economic reports due out later in the week.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 1:56 pm S?P downgrades Ireland credit ratingStandard ? Poor's the credit ratings agency cut Ireland's sovereign credit rating for the second time in three months on Monday.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 1:56 pm Comp Watch '09: No One Gets Left Behind!The White House is reportedly planning on requiring firms that double-dipped on bailout funds (Citi, Bank of America, AIG, General Motors, GMAC) to handover any executive pay proposals to Compensation Cop Kenneth Feinberg, who will either allow them to proceed, or shut them down. But lest you get the impression that the love will not be spread around, please note that a set of compensation commandments are in the works, with the expectation that they'll be observed by everyone. C, BAC, et al will of course be receiving the most hands on attention from Feinberg and his friends at the Treasury when it comes to how they pay their people, but banks like Goldman and JPMorgan, who awkwardly thought they'd be home free once T. Geith cashed their checks, are in for a surprise. For those of you wondering what, pray tell, the rules entail, should you want to pay your people any time soon-- sit tight. We don't have anything yet. Everything's fairly (completely) vague right now. No actual Do's or Don'ts made it into the Times report, either because they've yet to be finalized, or because the Treasury thought it'd be fun to make you sweat it out. I don't think anyone over there is that crafty, though, so it's probably door number one. The Obama administration plans to require banks and corporations that have received two rounds of federal bailouts to submit any major executive pay changes for approval by a new federal official who will monitor compensation, according to two government officials.
Sponsored Topics: Great Depression - Bank of America - General Motors - Executive compensation - White House Source: Dealbreaker | 8 Jun 2009 | 1:55 pm SEI Advisor Network Reveals Cutting Expenses is Last Resort for Restoring Advisor Firm RevenueAdvisors Boosting Client Acquisition Efforts, Exploring New Marketing Tactics OAKS, Pa., June 8 /PRNewswire-FirstCall/ -- A recent SEI (Nasdaq: SEIC) survey of...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 1:55 pm Chrysler-Fiat in Supreme Court's handsAn appeals court Friday upheld Chrysler LLC's plan to exit bankruptcy.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 1:54 pm Energy Stocks: Energy stocks slide despite oil-spike warningRoyal Dutch Shell CEO Jeroen van der Veer reiterates the industry’s recent warning about a possible spike in oil prices down the road, but it had little effect on falling oil prices and weaker energy stocks.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:53 pm Green Globe International, Inc. Announces Appointment of Anoosheh Mostafaei to Board of DirectorsMURRIETA, Calif., June 8 /PRNewswire-FirstCall/ -- Green Globe International, Inc. (Pink Sheets: GGII), the worldwide owner of the Green Globe brand, today announced the...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 1:50 pm GM and Citigroup drop out of DowFrom the start of trading on Monday, General Motors and Citigroup are replaced by Cisco Systems and Travelers.Source: BBC News | Business | World Edition | 8 Jun 2009 | 1:47 pm Stocks fall ahead of gov't report card on banksNEW YORK -- Stocks are lower following a drop on European markets and as investors await the latest government report card on banks.Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 1:45 pm McDonald's warns of impact from exchange ratesMcDonald’s Corp. says global same-store sales rose 5.1% in May, but total sales fell slightly as the fast-food giant’s overseas operations grappled with fluctuating currency-exchange rates.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:44 pm Warehouse86 Adds Visionary Vice President to High Powered TeamFormer FedEx Efficiency Expert Joins Online Reverse Logistics Company as VP of Planning & Engineering MEMPHIS, Tenn., June 8 /PRNewswire/ -- Warehouse86...Source: RSS feed - channel BNewsBusiness | 8 Jun 2009 | 1:44 pm Wall Street falls on McDonald's, bank worries (Reuters)
Source: Yahoo! News: Business | 8 Jun 2009 | 1:41 pm Wall Street falls on McDonald's, bank worries (Reuters)
Source: Yahoo! News: Stock Markets News | 8 Jun 2009 | 1:41 pm Wall Street falls on McDonald's, bank worriesNEW YORK (Reuters) - Stocks opened lower on Monday after McDonald's warned on its second-quarter profit and on concerns that a push by banks to repay government bailouts may divert funds from an economic recovery.Source: Reuters: Business News | 8 Jun 2009 | 1:41 pm Ireland credit-rating cut for second timeIreland had its credit rating cut for the second time in three months and was warned that it could fall further following concerns about the "continued fragility" of its banking sector and doubts about the Government's bailout plan. Source: Latest Business News from Times Online | 8 Jun 2009 | 1:39 pm British van maker LDV collapsesBritish van maker LDV filed for bankruptcy protection on Monday after a rescue bid by a Malaysian company collapsed.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:38 pm European stocks slide, London down 1.41% (AFP)
Source: Yahoo! News: Stock Markets News | 8 Jun 2009 | 1:37 pm Brown faces showdown after Labour routThe UK prime minister faces a showdown with his MPs after a humiliating night at the polls, as a slump in Labour support helped allow the far-right British National party win its first two seats in the European parliamentSource: Financial Times - US homepage | 8 Jun 2009 | 1:35 pm Analysts Duel Over Google Values (GOOG)Google Inc. (NASDAQ: GOOG) is still watched by just about every trader under the sun. This morning we have two analyst research calls that differ greatly. There is a raised price target and there is a formal downgrade to contend with. Boutique research firm Benchmark has cut its formal rating to “Hold” from “Buy” this morning. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 1:28 pm Madoff MathSee, it wasn't just us. The question we tackled on that podcast back in March, of how to add up the size of Madoff's Ponzi scheme has surfaced in federal court. New York Times story about it here. Attorney Barry Lax is arguing the victims are owed the amount shown on the last financial statement Madoff sent them. "We are talking about some of the saddest cases imaginable," he said. "These are people in their 70s and 80s who cannot work and have no possible source of income to replace the money" lost in the fraud. Irving Picard, the trustee charged with making these awkward calculations about who should get paid what, argues that the numbers on the financial statements were fictions. And Madoff gave his friends higher (fictitious) returns. In a recent interview, Mr. Picard argued that recognizing these fraudulent transactions as the basis for actual cash losses would be to "allow the thief to pick the winners and losers." It's a tough issue. People planned their lives around Madoff's lies, so the numbers on those financial statements had consequences. But those numbers were lies. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 8 Jun 2009 | 1:27 pm Qwest no longer selling long-distance netRead full story for latest details.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 1:25 pm Israel Stocks: Israel stocks off; What might Partner do?Israeli stocks decline, dragged lower by Israel Chemicals and its parent as well as bank shares.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:19 pm What no socialist backlash?Black Sunday for the European left. In spite of a deep recession that seemed at times to shake the confidence in the foundations of free markets socialist and social democrats failed to convince voters in all major countries that they had credible alternatives to steer Europe's economies out of the slump.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 1:15 pm Battling the slump with beer and BBQMaking merry is serious business at Circle R Ranch, located 10 miles north of Dallas in bucolic Flower Mound, Texas.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 1:14 pm McDonald’s Seeing Some Slowing Growth (MCD)McDonald’s Corp. (NYSE: MCD) is trading lower after the fast food giant posted some mixed same store sales data for the month of May. The golden arches posted +5.1% same store sales, above the estimates north of 4%. But the issue is in the domestic same store sales that came in at +2.8%, as we [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 1:11 pm Qwest to keep long-distance network; bids lowQwest Communications International Inc. will keep its long-distance network, signaling that the company failed to find a buyer willing to pay as much as it wanted.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:09 pm Center-right rolls up wins in E.U. electionsLONDON (MarketWatch) -- Silvio Berlusconi had a good day.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:04 pm NewsWatch: U.S. stock futures point to weaker startU.S. stock futures drop Monday, as traders fret that a recent rally has been too sharp even as the economy is looking closer to recovery.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 1:00 pm Wall St set to fall on talk of rate riseUS stocks were set to give up some of last week's gains morning as rising yields on Treasury bonds and talk of a potential interest rate rise later this year led to concerns over the impact this might have on consumer spendingSource: Financial Times - US homepage | 8 Jun 2009 | 12:56 pm Opening Bell: 06.07.09Deadline For Capital Raising Plans Looms (WSJ) White House Promises 600k More Jobs (CNBC) UBS Said to Be in Talks About Repaying Swiss State Investment (Bloomberg) Top Three M&A Banks (Bloomberg) Supreme Court Asked To Delay Chrysler Sale (Reuters) Gordon Repeats Vow Not to Go Away (Telegraph)
Sponsored Topics: White House - GoldmanSachs - Chrysler - Government - United States Supreme Court Source: Dealbreaker | 8 Jun 2009 | 12:56 pm McDonald's global May same-store sales up 5.1 percentCHICAGO (Reuters) - McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, on strong demand in Europe and Asia/Pacific.Source: Reuters: Business News | 8 Jun 2009 | 12:55 pm Currencies: Dollar maintains upside momentumThe U.S. dollar rose against most major rivals Monday, extending its gains from the previous session, as a downgrade of Ireland’s credit rating weighed on the euro and political concerns pressured the British pound.
Source: MarketWatch.com - Top Stories | 8 Jun 2009 | 12:55 pm European stocks down as US poised to fall at open (AP)
Source: Yahoo! News: Stock Markets News | 8 Jun 2009 | 12:46 pm The best investment the U.S. didn't makeSometimes the best investment is the one you didn't make. That's the case with one of the biggest investment pools in the country: the $700 billion Troubled Assets Relief Program, which Congress authorized last October to help combat the financial meltdown. The smartest thing the Treasury has done is to not buy troubled assets with the money. Instead, it has used most of it to buy preferred stock in banks to shore up their capital.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 12:44 pm BMW's sales decline slows in MayBMW reports another hefty fall in sales in May, but the pace of decline was slower than it had been in April.Source: BBC News | Business | World Edition | 8 Jun 2009 | 12:40 pm Major economies are 'close to low point'Most of the world's major economies are now close to the low point of their slowdowns, in a sign that the global recession is easing, according to the OECD's analysis of forward-looking indicatorsSource: Financial Times - US homepage | 8 Jun 2009 | 12:33 pm Supreme Court asked to delay Chrysler saleWASHINGTON (Reuters) - Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.Source: Reuters: Business News | 8 Jun 2009 | 12:27 pm Despite the Fed’s Protests, Growth Does Not Cause InflationJohn Tamny of RealClearMarkets Inflation’s decline in the ’80s thanks to a resurgent dollar seemingly proved once and for all that it is always monetary in nature–specifically the result of debased money. From post-World War I Germany to the U.S. in the ’70s and this decade, to Zimbabwe at present, inflation only rears its ugly head [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 12:20 pm Barclays in BGI talks, $12 billion BlackRock deal seenLONDON (Reuters) - Barclays Plc is in talks to sell Barclays Global Investors (BGI), the British bank said on Monday, with U.S. fund manager BlackRock the frontrunner to land the asset manager for about $12 billion.Source: Reuters: Business News | 8 Jun 2009 | 12:13 pm Barclays in BGI talks, $12 billion BlackRock deal seen (Reuters)
Source: Yahoo! News: Business | 8 Jun 2009 | 12:13 pm Japan current account drops 55%Japan's current account surplus declined in April for the fourteenth consecutive month.Source: BBC News | Business | World Edition | 8 Jun 2009 | 12:13 pm Fraudsters jailed over Aviva scamThree convicted fraudsters who successfully conned five directors at Aviva, the insurer, out of a combined £638,000 have been sent to jail, City of London police said today. Source: Latest Business News from Times Online | 8 Jun 2009 | 12:09 pm A Housing Recovery: Not So Fast (BusinessWeek Online)BusinessWeek Online - Stocks of homebuilders have had an impressive run recently, thanks to a stream of improving macroeconomic data, including home sales and consumer confidence, climbing an average of 38% since March 9. But will the recovery last? Recent gains in long-dated U.S. Treasury yields augur rising mortgage rates, while the likelihood of increasing foreclosures could further bloat the housing supply in the months ahead.Source: Yahoo! News: Business | 8 Jun 2009 | 12:08 pm Bonnier boosts US magazine presenceThe family-owned Swedish company Bonnier has become one of the large magazine owners in America with three acquisitionsSource: Financial Times - US homepage | 8 Jun 2009 | 12:07 pm Lloyds takeover of HBOS 'beginning to show results' says chairman Sir Victor BlankClaim from Sir Victor Blank comes as the bank repays the Government £2.6bn after selling shares to investors.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 12:00 pm Supreme Court asked to delay Chrysler sale (Reuters)Reuters - Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.Source: Yahoo! News: Business | 8 Jun 2009 | 11:54 am Top 10 Analyst Upgrades & Downgrades (ARG, T, GOOG, HOV, MELI, SSL, STO, TSM, TRI, WSM)These are the top ten analyst calls for research upgrades, downgrades, and initiations which we have seen from Wall Street early this Monday morning: Airgas (ARG) Started as Buy at Piper Jaffray. AT&T (T) Removed from Conviction Buy List at Goldman Sachs, but maintained Buy rating with 32% upside. Google (GOOG) Cut to Hold from Buy at Benchmark. Hovnanian [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 11:53 am Pro-western coalition wins Lebanon pollsLebanon's western backed coalition has held on to its majority in parliament in fiercely fought elections, according to preliminary resultsSource: Financial Times - US homepage | 8 Jun 2009 | 11:51 am Taxman 'faces £500m bingo bill'Rank Group - which runs casinos and Mecca bingo halls - has won a High Court battle which advisers say could cost the taxman up to £500m.Source: BBC News | Business | World Edition | 8 Jun 2009 | 11:47 am Sophistication Isn’t Everything
Last week I wrote about the importance (or not) of custom web design, particularly for aesthetic reasons. After thinking about visually awful, but fully functional Craigslist, as well as Twitter’s sparse and Blogger-based informational blog, I’m still clearly in the ‘it depends’ camp when it comes to the importantace of sophisticated web design. (That said, my sites are looking *awesome* - thanks to Eric Hamm.) Here’s another example of through-the-roof business growth with funky, homemade media. Morris Rosenthal’s video about his book on laptop repair isn’t fancy, but it’s working.
But in the post he reports that sales are way up. If you check out his blog (linked above) you’ll see that’s not so pretty either. So I guess at least when it comes to laptop repair, it really is all about the content. Image Credit: notionscapital, Flickr
Source: Business Pundit | 8 Jun 2009 | 11:45 am Lloyds is first bank to start repaying bailout loanLloyds Banking Group will become the first bank to repay some of the UK government's £37bn bailout of the British banking system after raising £4bn from shareholders.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 11:44 am Five ways to profit from oilIf you think the oil price has further to go here's how you can benefit - rather than just fuming at the petrol pumps.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 11:40 am Oil falls below $68 on stronger dollarLONDON (Reuters) - Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.Source: Reuters: Business News | 8 Jun 2009 | 11:39 am Nun Ad
Source: Business Pundit | 8 Jun 2009 | 11:34 am Jobless in Henley part 18: 'What happens when you're selfemployed and injury stops you working?'Our recession diarist wants to protect her family from loss of income - but the cost may be too great.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 11:31 am Fears grow on Latvian currencyFears remain over the Latvian currency after the central bank said it has spent almost 1bn euros (£876m) this year supporting the lat.Source: BBC News | Business | World Edition | 8 Jun 2009 | 11:28 am S&P cuts Irish debt rating againThe Irish Republic's sovereign debt rating has been cut for the second time this year.Source: BBC News | Business | World Edition | 8 Jun 2009 | 11:21 am Bank broadens £125bn scheme to help businessThe Bank of England today moved to appease critics protesting that its massive multi-billion pound purchases of government and corporate IOUs under its radical quantitative easing strategy have failed to ease the financial stress afflicting Britain's companies. Source: Latest Business News from Times Online | 8 Jun 2009 | 11:13 am Loans startup Wonga gets 22m boost from Facebook backerWonga.com a British startup which provides shortterm loans has secured 22m £14m of venture capital funding from a group led by Accel Partners the backers of Facebook.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 11:08 am Global slump hits net ad revenuesMore than six years of growth in net ad spending has ended thanks to the global economic slump, reveals figures.Source: BBC News | Business | World Edition | 8 Jun 2009 | 11:03 am LDV back in administration 7000 jobs at riskUK vanmaker LDV was placed back in adminstration on Monday putting around 7000 jobs at risk.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 11:02 am Shares and stock tips: buy Kingfisher and SIGStockbrokers give their views on whether you should buy sell or hold a selection of shares.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 10:57 am UK jobs at risk as LDV files for administrationLDV, the beleaguered van maker, was today placed in administration in a move which threatens thousands of UK jobs. Source: Latest Business News from Times Online | 8 Jun 2009 | 10:56 am Ireland suffers fresh S&P downgradeIreland's sovereign credit ratings were cut for the second time in three months amid heightened concern about the soaring cost of bailing out the country's ailing banking sectorSource: Financial Times - US homepage | 8 Jun 2009 | 10:44 am Backer of Post Office savings faces credit rating downgradeThe risk rating of Bank of Ireland which backs Post Office savings accounts faces downgrade after one of the world's leading ratings agencies said it would review its credit rating.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Jun 2009 | 10:33 am Global airlines fear oil rally as losses mount (Reuters)
Source: Yahoo! News: Business | 8 Jun 2009 | 10:33 am Global airlines fear oil rally as losses mountKUALA LUMPUR (Reuters) - Global airlines called on Monday for concerted action to prevent another runaway surge in oil prices as the International Air Transport Association nearly doubled its forecast of industry losses to $9 billion in 2009.Source: Reuters: Business News | 8 Jun 2009 | 10:33 am State rejects Arcandor aid claimThe German government rejects a request for aid from Arcandor, which owns Karstadt and 52% of Thomas Cook.Source: BBC News | Business | World Edition | 8 Jun 2009 | 10:21 am Will All Of The Top Management On Wall St. Work For $1 A Year?The Administration is looking at further pay caps for executives on Wall St. and the auto industry. The reasoning is that if a company takes government money, the government should have a say in management pay. That does not leave corporate boards much to do, even those being put into Bank of America (BAC) and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 10:19 am OECD says global recession easingThe pace of decline of the world's major economies is slowing, according to the Organisation for Economic Co-operation and Development (OECD).Source: BBC News | Business | World Edition | 8 Jun 2009 | 10:15 am Microsoft (MSFT) May Offer Huge Price Cut For Windows 7 Pressuring MarginsMicrosoft (MSFT) may price Windows 7 as low as $100 to offset the effects of the recession on PC operating system sales and the public’s rejection of Vista, the current version of Windows. The price cut would be unprecedented. It could drive up sales of Microsoft’s software and PCs in general. It could also put intense [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 10:04 am Airlines to lose $9bn as recession bites$The world’s airlines will lose $9 billion ($£5.86 billion) in 2009, double the level forecast as recently as March, a key industry body warned today. Source: Latest Business News from Times Online | 8 Jun 2009 | 9:50 am The safety of your pension1. Many pension plans are underfundedSource: Business and financial news - CNNMoney.com | 8 Jun 2009 | 9:43 am Oil Will Rise Much Further Says Industry CEOShell is the largest oil company in Europe and one of the biggest in the world. Its assessment of the industry and the direction of the price of oil is probably as accurate as any. The firm sees crude prices rocketing up. Bloomberg reports that the CEO of Shell believes that “The economy will turn, demand will [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 9:42 am The New Case For Airline Bankruptcies: $9 Billion Annual LossThe International Air Transport Association has doubled its estimates for global airline industry losses compared to its figure of three months ago. That presages another round of carrier bankruptcies similar to these in the early part of the decade. Reuters reports that the IATA expects the red ink at the world’s airlines to hit $9 billion this [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 9:26 am Sterling falls on Labour defeatLabour's drubbing in the European election sent the pound tumbling today as pressure builds on Gordon Brown and his future as Prime Minister. Source: Latest Business News from Times Online | 8 Jun 2009 | 9:24 am Airlines seen losing $9 billion this yearSource: Business and financial news - CNNMoney.com | 8 Jun 2009 | 9:21 am Fidelity forms IPO alliance with KKRFidelity and private equity firm Kohlberg Kravis Roberts announced Monday a deal that allows the mutual fund giant's customers to participate in initial public offerings of KKR companies.Source: Business and financial news - CNNMoney.com | 8 Jun 2009 | 9:21 am Military mightThe world spent a record $1.5 trillion on arms in 2008Source: BBC News | Business | World Edition | 8 Jun 2009 | 9:00 am The Failure Of The Web 1.0 Giants And The Case That Facebook and MySpace Could Be WorthlessFacebook recently took in a new $200 million investment which puts the value of the company at $10 billion. That is down from a $15 billion valuation based on an investment that Microsoft (MSFT) made in the social network site in the fall of 2007. Most industry estimates are that Facebook will lose money on [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 8:53 am Fixing Housing Prices By Encouraging A Free FallThere are a number of market reasons that housing could continue to fall over the next two or three years. Robert J. Shiller of Yale makes the point, writing in The New York Times, that people may delay buying homes because of their fear of unemployment and sellers, in some cases, may not need to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 8 Jun 2009 | 8:46 am London market down at open (AFP)
Source: Yahoo! News: Stock Markets News | 8 Jun 2009 | 7:57 am End of the road as LDV heads for administrationLDV, the beleaguered van maker, will today apply for administration after the collapse of a rescue deal in a move that threatens thousands of UK jobs. Source: Latest Business News from Times Online | 8 Jun 2009 | 7:48 am BlackRock faces fight for Barclays' BGIBarclays, the banking group, confirmed this morning that it was in talks with BlackRock, the US money manager led by Larry Fink, over the sale of its Barclays Global Investors (BGI) unit but cautioned that discussions had yet to be concluded. Source: Latest Business News from Times Online | 8 Jun 2009 | 7:37 am BlackRock seeks to beat BNY Mellon to BGIBlackRock and Barclays were locked in talks to seal a deal for Barclays Global Investors and thwart a late challenge from Bank of New York MellonSource: Financial Times - US homepage | 8 Jun 2009 | 7:24 am Airline industry to lose $9bn this yearThe global airline industry is expected to suffer losses of $9bn this year as the economic slowdown cuts passenger and cargo traffic, according to the International Air Transport AssociationSource: Financial Times - US homepage | 8 Jun 2009 | 7:09 am Vehicle fraud cases heat up amid economic downturnSuspicious car fires or arson rise 27% in the first quarter compared with a year earlier as owners seek a payoff.Motorists unable to afford payments on pricey cars and gas-guzzling sport utility vehicles in this recession are turning to a time-tested financing solution: matches.
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am Wall Street waiting to see if gains will holdSome analysts say investors -- who have pushed the Dow up 2,220 points in three months -- are in danger of setting expectations too high for how quickly the economy can recover. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am Gas station vapor battle in California dissipatesA fight raged for months over a mandate for vapor recovery systems. In the end, the regulation stands and businesses have a reasonable amount of time to comply.No doubt it will come as a relief to all concerned that the controversy over the state's -- P-II EVR, for short -- has been mostly resolved.
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am Gas station vapor battle in California dissipatesA fight raged for months over a mandate for vapor recovery systems. In the end, the regulation stands and businesses have a reasonable amount of time to comply. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am Motorcycles get revved up for the big screenAlthough sales are down in the U.S., 2009 has been a blockbuster year for bikes in films. Manufacturers are hoping the product placements give them traction with new buyers.The summer movie season is here, in all its action-packed and, increasingly, motorcycle-enhanced glory. In just the last month, a pack of Ducati Hypermotards has streamed down the legs of a giant robot in "Terminator Salvation," a young Capt. Kirk has wheeled up to the Starship Enterprise on a highly modified Buell in the new "Star Trek" and a fleet of Vespas has whizzed around Rome in "Angels & Demons."
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am Bad-check letters are misleading, critics sayCorrectiveSolutions, formerly known as American Corrective Counseling Services, uses government seals in its messages. Consumer advocates contend the private company's actions are dishonest. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am Motorcycles get revved up for the big screenAlthough sales are down in the U.S., 2009 has been a blockbuster year for bikes in films. Manufacturers are hoping the product placements give them traction with new buyers. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am Univision wants Televisa to keep its telenovelas off the WebA judge must decide whether the programming exclusivity that Televisa promised Univision when the two Spanish-language media companies became partners in 1992 extends to the Internet.Although viewers are increasingly turning to the Internet to watch popular TV programs, fans of the blockbuster Spanish-language soap operas, including "Cuidado con el Angel" ("Don't Mess With the Angel"), are out of luck if they want to see the shows legally on the Web.
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am Univision wants Televisa to keep its telenovelas off the WebA judge must decide whether the programming exclusivity that Televisa promised Univision when the two Spanish-language media companies became partners in 1992 extends to the Internet. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am Lenders in talks for control of TribuneThe plan, which is in the early stages of negotiations, centers on a debt-for-equity swap that probably would give the senior lenders a large majority ownership stake in the reorganized Chicago media firm...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am World's airlines expect $9-billion loss in 2009Air travel has been hurt by the global economic downturn and an outbreak of swine flu. The projected loss is nearly double previous estimates by the International Air Transport Assn. ...Source: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am The week ahead, at a glanceThe week ahead, at a glanceSource: RSS feed - channel BNPaperBusiness | 8 Jun 2009 | 7:00 am World's airlines expect $9-billion loss in 2009Air travel has been hurt by the global economic downturn and an outbreak of swine flu. The projected loss is nearly double previous estimates by the International Air Transport Assn.With air travel continuing to slump amid a global recession that recently has been compounded by an outbreak of swine flu, airlines are expected to lose about $9 billion this year, or nearly double previous estimates by the industry's main trade group.
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am Bad-check letters are misleading, critics sayCorrectiveSolutions, formerly known as American Corrective Counseling Services, uses government seals in its messages. Consumer advocates contend the private company's actions are dishonest.With the seal of Santa Barbara County's district attorney on its cover, the envelope caught Jennifer Osborn's attention immediately. And when she opened it, Osborn read something startling: She was being accused of a crime.
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am Lenders in talks for control of TribuneThe plan, which is in the early stages of negotiations, centers on a debt-for-equity swap that probably would give the senior lenders a large majority ownership stake in the reorganized Chicago media firm.Tribune Co. and its creditors are in the early stages of negotiating a plan of reorganization in U.S. Bankruptcy Court that sources said probably would transfer control of the troubled media conglomerate from Chicago billionaire Sam Zell to a group of large banks and investors that holds $8.6 billion in senior debt.
Source: L.A. Times - Business | 8 Jun 2009 | 7:00 am NZ sharemarket slipsThe New Zealand sharemarket slipped in trading reduced by a holiday in Australia. The benchmark NZSX-50 index closed down 17.892 points, or 0.631 per cent, at 2816.616, reversing nearly all of the 18.8 point rise on Friday. Turnover...Source: New Zealand Herald - Business | 8 Jun 2009 | 6:25 am N Korea sentences US reportersNorth Korea sentenced two US reporters to 12 years in a labour camp, presenting a major challenge to Barack Obama, the US president, who has vowed not to give ground in the face of North Korea's military provocationsSource: Financial Times - US homepage | 8 Jun 2009 | 6:10 am Kiwi dollar fallsThe New Zealand dollar was little changed today after falling against a strengthening greenback during the weekend. The United States dollar staged its biggest one-day gain in more than five months after data on Friday showed the...Source: New Zealand Herald - Business | 8 Jun 2009 | 5:45 am Cerberus sees two senior partners leave: report(Reuters) - Two senior Europe-based partners in U.S. private equity firm Cerberus, majority owner of carmaker Chrysler, have left the company, the Wall Street Journal reported, citing a person familiar with the company.Source: Reuters: Business News | 8 Jun 2009 | 5:34 am Obama 'punishing' our dairy sector, say Fed FarmersPresident Barack Obama and his Agriculture Secretary, Tom Vilsack, are "punishing" New Zealand farmers for their success, a farm leader has told Americans. Federated Farmers president Don Nicolson said in an opinion article in...Source: New Zealand Herald - Business | 8 Jun 2009 | 4:15 am Fidelity to sell shares of KKR IPOsBOSTON (Reuters) - Boston mutual fund giant Fidelity Investments and New York private equity firm Kohlberg Kravis Roberts & Co. have struck a deal to sell shares of KKR initial public offerings to retail customers, hoping for a comeback in the frozen market.Source: Reuters: Business News | 8 Jun 2009 | 4:02 am Wall Street Starts Week With a Dip (Market Update)News at a Glance
The LowdownWall Street is showing renewed concern over the financial sector Monday. Stocks declined early, as traders awaited the fundraising plans of the 10 banks instructed by the U.S. government to lift their capital levels after their stress tests. By 9:34 a.m., the Dow Jones Industrial Average had dropped 58 points to 8705. The Nasdaq had slipped 14 to 1835, and the S&P 500 had given up 5 at 935. The banks had been told to raise a total of $75 billion to pad their coffers in the event of another shock to the financial system. Morgan Stanley (MS) and Bank of America (BAC) have already met the government's goals. In the bond market, the yield on the 10-year note struck its highest point in seven months, stoking fears that more expensive borrowing will push businesses away from making capital investments and further stagnating the economy. In the credit markets, the first-quarter rate of credit delinquincy jumped 11% this year, according to the credit reporting agency TransUnion. The delinquency rate rose to 1.32% during Q1, up from 1.19% in the first quarter of 2008. In Washington, the Treasury plans to require financial firms that have received at least two rounds of federal bailout money to submit a notice to a new federal office when making substantial changes to its executive compensation schedule, The New York Times (NYT) reported, citing two government sources. World markets were mixed. In Asia, Japan's Nikkei picked up 1.0%, while Hong Kong's Hang Seng slipped 2.3%. In Europe, the U.K.'s FTSE dropped 0.9% in afternoon trading. Energy prices dipped. By 9:23 a.m., crude oil traded down 4 cents at $68.40 a barrel. Corporate News
The Economy
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Source: SmartMoney.com | 8 Jun 2009 | 4:00 am Beating the Rate Hike on Car InsuranceGas prices are down by a third from a year ago, but the costs of owning a car may be heading up, courtesy of your auto insurance. After two years of staying flat, rates rose an average of 2.5 percent in 2008 and could rise up to 7 percent this year—the biggest increase in more than five years, according to brokerage firm Stifel Nicolaus. Some tips to avoid the jump: Bargain hardInsurance companies may refuse to budge if you ask for a rate rollback. But “there’s always room to bargain,” says Michael McRaith, director of Illinois’s insurance division. One thing your underwriter might do is apply new discounts. Some carriers offer discounts for professional degrees—even a master’s in education may qualify—while others may apply a “persistency” credit just for being a longtime customer. If you’ve started working from home or get laid off, let your insurer know you’re no longer commuting by car. You could save up to 10 percent, for example, if you now drive less than 10 miles a day. Tweak your policyMost experts don’t advise going with your state’s minimum liability coverage, since a lawsuit over a severe bodily injury could then wipe out your net worth. But opting for a higher collision deductible—from $500 on a typical policy to $1,000—could knock 5 percent off the premium on that line of the policy, analysts say. Most consumers file claims only once every eight to 10 years, so you’ll probably come out ahead in the long run, says Jeanne Salvatore, senior vice president at the Insurance Information Institute. Bundling your auto and home insurance with the same carrier could shave a few bucks too, as could trading in your car for one that’s less costly to insure. Get smarter about creditUnderwriters use a credit-based score to help calculate your premium—and if you have a few black marks on your record, you’ll probably get hit hardest. Paying overdue bills and fixing errors on your credit report are good places to start. Using less of your available credit can hike your score too, according to Fair Isaac, the big credit-scoring firm. Insurers such as State Farm may also give you a break for a hardship such as a job loss, divorce or identity theft. Only certain hardships qualify, and only if they negatively affect your score. But you won’t get a break if you don’t ask. SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 8 Jun 2009 | 4:00 am 7 Things You're Paying More Money For (Deal of the Day)The specter of rising inflation that is expected to plague consumers has yet to materialize. In fact, the latest consumer price index figures show that prices in April were actually flat compared to a year ago. Regardless, you may have noticed that you're paying more on certain items than you did, say, just a couple of weeks ago. States looking to raise funds have hiked taxes on everything from cigarettes to toll roads, banks are trying to cushion their coffers by charging exorbitant fees and struggling colleges continue to ramp up tuition hoping to cover costs.
And those are just a few of the places consumers' wallets are getting hit. Despite any really significant signs of inflation, here are some items consumers are already shelling out more cash for (in order from the smallest percentage increase to the largest): First-Class Postage StampsPrice in April: 42 cents The U.S. Postal Service raised the price of a first-class stamp yet again last month -- the third increase in as many years. Other items that were affected: The first ounce for a large envelope rose to 88 cents from 83 cents (any weight over that amount remains at 83 cents an ounce), and the first ounce of a parcel package is now $1.22, up from $1.17. Those rate hikes may not be enough to cover the agency’s cash shortfall: In May, the USPS announced that it had a year-to-date net loss of $2.3 billion, compared to a $35 million loss in the year-ago period. The agency, which recently asked Congress for permission to cut its delivery days to five days a week from six, blames its financial woes on the recession and revenue lost to email.
College TuitionTuition at the University of Texas (Austin) Almost without fail, colleges and universities hike tuition each year. Historically, annual tuition increases at almost twice the inflation rate, says Peter Mazareas, vice chairman of the College Savings Foundation, a non-profit that helps families save for college. But this year, shrinking state budgets have put the squeeze on public universities. Incoming freshmen at the University of Texas's Austin campus will be paying $4,477 in tuition costs this fall, a nearly 5% jump from the year before. And at the nine University of California undergraduate campuses, average tuition will be 8% higher. Such hikes are common across the states. The average tuition costs for a four-year public college was $6,585 in the 2008-09 academic year, a 6.4% increase from the year before, according to the College Board. Even two-year community colleges boosted their tuition costs by an average 4.7% last year.
Ice CreamHalf-gallon of ice cream Along with energy, food prices are the most volatile and hard to predict, says Michael J. Roberts, agriculture professor at North Carolina State University. Take dairy for example. Prices for milk, cheese and eggs have been flat or lower since last year. But if you want to satisfy your sweet tooth, be prepared to pay up. The price of a half-gallon of ice cream is up 7%, from June of last year, according to United States Department of Agriculture data. As for the rest of the food on your shopping list? Beef and chicken have remained more or less the same (although certain cuts like extra lean ground beef and whole chickens are slightly more expensive). And that box of cereal? You're paying about 5% more than a year ago, according to the latest Consumer Price Index.
CigarettesPack of 20 Marlboro Lights in Florida In July, smokers in Florida will have to shell out an extra buck when they buy a pack. Facing a $2.3 billion budget shortfall, the state passed a $1-per-pack increase in its cigarette surcharge -- the biggest of its kind in the sunshine state’s history. The tax will now total $1.34 a pack. Tobacco is an easy target for states to raise revenue. Indeed, seven other states, including Arkansas, Wyoming and Kentucky, have enacted tax hikes on tobacco products so far this year, according to the Center on Budget and Policy Priorities, a policy think tank in Washington, D.C. But no other state makes more money off of its smokers than New York, which takes the honor of levying the highest cigarette tax: $2.75 a pack.
Bank FeesATM fee at Citibank for noncustomers Loyalty is key when it comes to banking these days. Chase customers that go to a Bank of America (BAC) ATM in need of quick cash fix should be prepared to pay up. In fact, Bank of America, Chase and Citibank (C) all charge non-customers $3 to use their ATMs these days. (Bank of America jacked up its ATM fees in July 2007, and Chase (JPM) and Citibank followed suit in January and July 2008, respectively.) Consumers should be indignant – but not surprised: ATM fee increases are about as predictable as snow in Alaska. Among the nation's major banks, average ATM surcharges were nearly 10% higher in 2008 than in 2007, according to a Bankrate.com survey – much steeper than the rate of inflation.
TollsDaily round-trip into downtown Boston on Mass Pike Not only do drivers have to contend with creeping gas prices (see next slide), but many have to pay more for tolls, too. State lawmakers are debating whether the Massachusetts Turnpike Authority can go through with a 60% increase in tolls (daily round-trip cost into downtown Boston is now $5; the Authority is proposing to change it to $8). The first phase of the increase fell through a couple of months ago, but the second is expected to be enacted on July 1. For the first time since 1990, the Orlando-Orange County Expressway Authority, which operates more than 100 miles of road in Central Florida, raised its tolls by 25 cents in April. The bump was in response to an 8% decline in overall traffic. Drivers in other states will likely get hit as well: Lawmakers in New Hampshire and West Virginia are considering raising tolls.
GasGallon of unleaded gas in Minneapolis Minneapolis drivers paid $2.62 for a gallon of unleaded gas last week – 63% more than they paid in January. That increase reflects the overall national trend, with gas prices soaring more than 50% since the beginning of the year, according to AAA and the Oil Price Information Service. Nationwide prices today, on average $2.59 a gallon for regular, though, are still much lower than last summer, when a gallon reached an all-time high of $4.11 on July 17.
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Source: SmartMoney.com | 8 Jun 2009 | 4:00 am Creditors may get control of Tribune Co: paper(Reuters) - Tribune Co and its creditors are in early negotiations for a reorganization plan in bankruptcy court that would likely transfer control of the media conglomerate from billionaire Sam Zell to a group of large banks and investors, the Chicago Tribune said, citing sources.Source: Reuters: Business News | 8 Jun 2009 | 3:55 am Economic confidence good, says BNZA new survey has found a continuing level of sentiment for the New Zealand economy's prospects in the coming year, although conditions remain tough. A net 18 per cent of respondents expect the economy to improve during the next...Source: New Zealand Herald - Business | 8 Jun 2009 | 3:30 am New chief exec for NDA GroupHamilton-based manufacturer NDA Group has appointed Mark Eglinton as Chief Executive Officer. NDA Group is a privately owned company with manufacturing operations that span the dairy, wine, oil and gas, refining/petrochemical...Source: New Zealand Herald - Business | 8 Jun 2009 | 3:30 am World airlines set to lose $14 billion this yearKUALA LUMPUR - The International Air Transport Association says the airline industry is expected to lose $US9 billion ($NZ14.3 billion) in 2009. IATA says the figure is nearly double the association's March estimate of $4.7 billion....Source: New Zealand Herald - Business | 8 Jun 2009 | 3:00 am Contact Energy profits set to plunge by a thirdContact Energy is expecting full year underlying earnings after tax to fall by as much as a third, due to lower than expected wholesale electricity prices. Managing director David Baldwin today said short term market conditions...Source: New Zealand Herald - Business | 8 Jun 2009 | 2:30 am Third chair maker fined for made in NZ claimAnother office furniture company has been fined for falsely claiming that two models of office chairs were made in New Zealand. Auckland-based Eden Office Seating pleaded guilty to three charges of breaching the Fair Trading Act...Source: New Zealand Herald - Business | 8 Jun 2009 | 2:04 am Full ventilation restored at coal mineVentilation is fully restored to the Pike River Coal Ltd mine on the West Coast. The main 108m air shaft was completed in January 2009 but was blocked by a rock fall at its lower level before reinforcing bolt-and-mesh had reached...Source: New Zealand Herald - Business | 8 Jun 2009 | 2:00 am Job ads continue to fall in AustraliaAustralia is no longer a haven for job-hunting kiwis, new data shows. Job advertisements across the Tasman have fallen by over 50 per cent in the last 12 months, according to figures released today. A Job Index survey of 190,000...Source: New Zealand Herald - Business | 8 Jun 2009 | 1:15 am Germans point to Qatari fund over talks with debt-laden PorscheA Qatari state investment fund is preparing to make an investment in Porsche, the German carmaker, a German magazine will report today. Source: Latest Business News from Times Online | 8 Jun 2009 | 12:00 am European elections: extremist and fringe parties are the big winnersExtremist and fringe parties were the beneficiaries as voters across Europe deserted mainstream parties or stayed at home in protest at the state of their economies. Source: Latest Business News from Times Online | 8 Jun 2009 | 12:00 am Sunstone prepared to turn over W San Diego to bank (AP)AP - Sunstone Hotel Investors Inc. said Sunday it will default on the June mortgage payment for its swanky W Hotel San Diego property and turn over the 258-room downtown hotel to lenders, after failing to lower interest payments.Source: Yahoo! News: Business | 7 Jun 2009 | 11:47 pm Market rally hits 3 months, raising questions (AP)
Source: Yahoo! News: Stock Markets News | 7 Jun 2009 | 6:24 pm 'Hangover' scores; 'Land' gets lost
Source: L.A. Times - Business | 7 Jun 2009 | 4:58 pm Fans gather for launch of "iPhone killer" Palm PreNEW YORK/CHICAGO (Reuters) - Small crowds gathered on Saturday for the official launch of Pre, the smartphone seen as Palm Inc's best chance to claw back market share from Apple Inc's iPhone and Research In Motion Ltd's Blackberry.Source: Reuters: Business News | 7 Jun 2009 | 4:58 pm
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