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SAfrican expat denies 1.2 bln dlr 'Ponzi' fraudAn expatriate South African businessman accused of a massive pyramid scheme fraud that cost wealthy investors up to 1.2 billion US dollars has denied any wrongdoing, reports said. Barry...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 8:20 am Big Bear Lake turns into a staycation destinationTourism there has eroded, but owners of second homes in the mountain city are using their own condos and cabins more often. Property values have held up well compared with Southern California overall...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am U.S. to restart plans for a coal plant to capture greenhouse gasesThe Energy Department and the FutureGen Alliance consortium agree to resurrect the project. It calls for a $1.5-billion facility to be built in Mattoon, Ill., to try to collect coal emissions. ...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am High-end beauty on a budgetCVS and Walgreens are offering spa-like boutiques as a lower- cost alternative to department stores.A $300 jar of beauty cream is a tough sell these days.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am El Pollo Loco has a beef with KFC's grilled chickenThe Costa Mesa restaurant chain says competitor KFC uses beef products in the marinade for its grilled chicken, and plans to play up that fact in a new advertising campaign.Here's the beef: It's in KFC chicken.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am Markets' worries now are relativeRising interest rates and oil prices are threats, but stock investors know they've faced much worse. Three-dollar-a-gallon...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am Switch to digital TV signals has plenty of benefits, FCC saysAll Americans will have access to faster Internet connections, better emergency services, and sharper TV pictures and clearer sound, according to Michael Copps, acting chairman of the agency.Now that June 12 has come and gone, it may be time to ask: Who, if anyone, benefits from the mandatory upgrade to digital television transmission?
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am Dow closes positive for 2009, but some fear it's a last gaspAnalysts say the powerful spring rally that had boosted broader market indexes may be running out of gas.After trying for two weeks, the Dow Jones industrial average on Friday finally made it into the black for the year.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am Digital TV conversion isn't creating a lot of wavesThe full extent of any confusion isn't yet known, but on Friday viewers weren't overwhelming TV stations with calls, and stores weren't running out of converter boxes. ...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am Markets' worries now are relativeRising interest rates and oil prices are threats, but stock investors know they've faced much worse.Three-dollar-a-gallon gasoline is back, and nobody's happy about it.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am General Motors, Chrysler executives defend dealership closingsFacing criticism by lawmakers, they tell a House panel the cuts are painful steps needed for the automakers' survival.Under withering criticism in Congress, executives of General Motors Corp. and Chrysler on Friday called the closings of hundreds of dealerships painful steps needed to right-size the auto giants. Down-on-their-luck dealers said the moves would needlessly devastate their local economies and livelihoods.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am U.S. airlines get thumbs down from frequent fliersDomestic carriers have the worst food, least comfortable seats and rudest flight attendants, according to an annual survey by Seatguru.com.The annual survey of frequent fliers by Seatguru.com, the popular online guide to airline seating, doesn't have a lot of highlights for U.S.-based airlines.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am Dow closes positive for 2009, but some fear it's a last gaspAnalysts say the powerful spring rally that had boosted broader market indexes may be running out of gas. After...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am Digital TV conversion isn't creating a lot of wavesThe full extent of any confusion isn't yet known, but on Friday viewers weren't overwhelming TV stations with calls, and stores weren't running out of converter boxes.So far, so good.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am Surge in interest rates could crimp economyHigher borrowing costs make home purchases and business expansion more expensive.Rising long-term interest rates are making it more expensive for home buyers, corporations and the U.S. government to borrow money, threatening to further stifle an already weak economy.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am Switch to digital TV signals has plenty of benefits, FCC saysAll Americans will have access to faster Internet connections, better emergency services, and sharper TV pictures and clearer sound, according to Michael Copps, acting chairman of the agency. ...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am Big Bear Lake turns into a staycation destinationTourism there has eroded, but owners of second homes in the mountain city are using their own condos and cabins more often. Property values have held up well compared with Southern California overall.Mike Meyer and Ronnie Russell prefer to vacation far from their Newport Beach home, but a recent excursion found them plying the placid blue waters of Big Bear Lake aboard a faux pirate ship.
Source: L.A. Times - Business | 13 Jun 2009 | 7:00 am U.S. airlines get thumbs down from frequent fliersDomestic carriers have the worst food, least comfortable seats and rudest flight attendants, according to an annual survey by Seatguru.com. ...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am High-end beauty on a budgetCVS and Walgreens are offering spa-like boutiques as a lower- cost alternative to department stores. A $300 jar...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am General Motors, Chrysler executives defend dealership closingsFacing criticism by lawmakers, they tell a House panel the cuts are painful steps needed for the automakers' survival. ...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am Surge in interest rates could crimp economyHigher borrowing costs make home purchases and business expansion more expensive. Rising long-term interest rates...Source: RSS feed - channel BNPaperBusiness | 13 Jun 2009 | 7:00 am TABLE-GAIL Jan-March net down 13 pct(versus the same period a year earlier, in billion rupees unless stated)Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 5:20 am China Eastern confirms Shanghai Airlines mergerChina Eastern Airlines confirmed it was in long-awaited merger talks with smaller rival Shanghai Airlines, adding a detailed plan of the tie-up was expected within the next 20 days. ...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 5:17 am Market Snapshot: Housing data, bond yields to draw early heatStocks next week will have another go at trying to maintain gains, with only a few economic releases and concerns about rising bond yields to take on the near-summer doldrums.
Source: MarketWatch.com - Top Stories | 13 Jun 2009 | 4:01 am Shaky recovery hopes dominate G8 finance talksShaky prospects for a global economic recovery was set to dominate talks between G8 finance ministers in Italy as rifts emerged on testing the stability of Europe's crisis-hit banking...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 3:39 am U.S. drafting rules to spur PE bank buyouts: reportSHANGHAI (Reuters) - U.S. regulators are drawing up rules that would make it easier for private equity firms to acquire troubled banks, aiming to free up more funds to recapitalize lenders,Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 3:13 am U.S. drafting rules to spur PE bank buyouts: reportSHANGHAI (Reuters) - U.S. regulators are drawing up rules that would make it easier for private equity firms to acquire troubled banks, aiming to free up more funds to recapitalize lenders, the Financial Times reported, citing people close to the situation.Source: Reuters: Business News | 13 Jun 2009 | 3:13 am U.S. drafting rules to spur PE bank buyouts: report (Reuters)Reuters - U.S. regulators are drawing up rules that would make it easier for private equity firms to acquire troubled banks, aiming to free up more funds to recapitalize lenders, the Financial Times reported, citing people close to the situation.Source: Yahoo! News: Business | 13 Jun 2009 | 3:13 am U.S. drafting rules to spur PE bank buyouts -FTSHANGHAI, June 13 (Reuters) - U.S. regulators are drawing up rules that would make it easier for private equity firms to acquire troubled banks, aiming to free up more funds to recapitalise lenders, the...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 3:10 am U.S. drafting rules to spur PE bank buyouts -FTSHANGHAI, June 13 (Reuters) - U.S. regulators are drawing up rules that would make it easier for private equity firms to acquire troubled banks, aiming to free up more funds to recapitalise lenders, the...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 3:10 am Witness testimony ends in Televisa-Univision suitWitness testimony has ended in Los Angeles about whether Televisa or Univision can transmit Televisa's popular telenovelas online and via satellite in the United States. U.S. District...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 2:54 am US removes Laos, Cambodia from trade blacklistUS President Barack Obama removed Laos and Cambodia from a trade blacklist, opening the way for US loans to companies doing business in the former US adversaries. The United States has...Source: RSS feed - channel BNewsBusiness | 13 Jun 2009 | 1:49 am Prince Charles forces developer U-turn over Chelsea Barracks projectThe Prince of Wales has forced a Qatari development firm to withdraw its application for a controversial £3 billion housing project at the Chelsea Barracks site in West London. Source: Latest Business News from Times Online | 13 Jun 2009 | 1:18 am A recession so deep even teen shoppers scrimpOlivia Gann, 17, has become much more deliberate in her spending, looking to discounters for clothes or resorting to new accessories to update an outfit as the economy has hit her pocketbook as hard as it has consumers two and three times her age.
Source: MarketWatch.com - Top Stories | 13 Jun 2009 | 12:09 am Russian oligarch rescues Setanta with £20m dealSetanta Sports was rescued by a Russian-born billionaire last night in a last-minute deal that will save English and Scottish football from having to plug a half-billion-pound black hole. Source: Latest Business News from Times Online | 13 Jun 2009 | 12:01 am Ofgem regulator resigns over 'anti-competitive' pricing proposalsOne of Britain's leading energy market regulators has resigned abruptly from Ofgem, the industry watchdog, after a pricing dispute. Source: Latest Business News from Times Online | 13 Jun 2009 | 12:00 am Huge staff windfalls as Barclays prepares to set BGI BlackRock deal in concreteMore than 400 Barclays employees will enjoy a windfall averaging £850,000 each from the sale of Barclays Global Investors (BGI), the bank's fund management business, to BlackRock of America. Source: Latest Business News from Times Online | 13 Jun 2009 | 12:00 am Buyers beware as confident home sellers start to hold out for the asking priceBuyers are beginning to lose the upper hand in house sales as fresh evidence suggests that in some regions of the country sellers are successfully holding out for close to the asking price. Source: Latest Business News from Times Online | 13 Jun 2009 | 12:00 am Scrambling for green shootsOver the past few days, the City has echoed to the sound of frantic scribbling as economists have scrambled to update their forecasts on everything from growth to gold. On the whole, the updates have been upbeat. Source: Latest Business News from Times Online | 13 Jun 2009 | 12:00 am Need to know: Aer Lingus cuts flights ... Eurozone output falls ... Waitrose sales riseView video and Need to Know interactive heatmap Source: Latest Business News from Times Online | 13 Jun 2009 | 12:00 am US switches to digital televisionAnalogue TV signals are switched off across the US, but about one million households are still unprepared.Source: BBC News | Business | World Edition | 12 Jun 2009 | 11:49 pm Latin American Markets: Brazil ends higher; regionals post weekly gainsLatin American equity markets close mixed, with Brazilian stocks up after recapturing advances that came in the wake of a bigger-than-expected interest-rate cut.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 11:37 pm IBD's Top 10 - Friday (Investor's Business Daily)Investor's Business Daily - 1 After spending most of Fri. underwater, stocks recovered to trim losses or notch gains. The Dow and the S&P 500 rose 0.3% and 0.1%, respectively. The Nasdaq and the NYSE composite fell 0.2%. Volume was sharply lower. Gold-mining stocks and steel were among the biggest losers. Railroads and soap led the upside. Chipmakers ended a 4-day win streak.Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 11:13 pm Occupations removed from shortages listThe recession has spurred changes to Immigration New Zealand's skills shortage list. The changes follow criticism positions were being filled by immigrants, when New Zealand workers are available. Immigration New Zealand spokesman...Source: New Zealand Herald - Business | 12 Jun 2009 | 11:04 pm Rate-setter Blanchflower honouredDavid Blanchflower, the Bank of England official who predicted the recession, is made a CBE in the Birthday Honours list.Source: BBC News | Business | World Edition | 12 Jun 2009 | 11:01 pm BlackRock lands BGI funds, Barclays boosts capitalBOSTON/LONDON (Reuters) - BlackRock Inc , the fund manager that has been one of the biggest winners of the credit crunch, has snapped up Barclays Global Investors for $13.5 billion in a deal creating the world's largest money manager.Source: Reuters: Business News | 12 Jun 2009 | 10:56 pm Textron's Cessna to cut 1,300 jobsNEW YORK (Reuters) - Textron Inc's Cessna unit said it would cut another 1,300 jobs, underscoring the face of deteriorating demand for corporate aircraft and leaving the company with about half of its workforce remaining.Source: Reuters: Business News | 12 Jun 2009 | 10:52 pm Textron's Cessna to cut 1,300 jobsNEW YORK (Reuters) - Textron Inc's Cessna unit said it would cut another 1,300 jobs, underscoring the face of deteriorating demand for corporate aircraft and leaving the company with aboutSource: RSS feed - channel BNewsBusiness | 12 Jun 2009 | 10:52 pm Growth in Zimbabwe 'may reach 6%'Zimbabwe's economy could grow by between 4% and 6% this year according to the country's finance minister.Source: BBC News | Business | World Edition | 12 Jun 2009 | 10:45 pm Defensives lift Dow, S&P but tech weighs on NasdaqNEW YORK (Reuters) - The Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks.Source: Reuters: Business News | 12 Jun 2009 | 10:43 pm US moves to spur bank buy-outsUS financial regulators are drawing up new rules to facilitate private equity acquisitions of troubled banks in an effort to unlock tens of billions of dollars that could be deployed to recapitalise ailing lendersSource: Financial Times - US homepage | 12 Jun 2009 | 10:30 pm Health care mandates: How they workWill the federal government force people to buy health insurance?Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 10:29 pm Stocks to Watch: Stocks in focus for MondayAmong the companies whose shares are expected to see active trade in Monday's session are Casey's General Stores Inc., La-Z-Boy Inc., and Amazon.com Inc.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 10:29 pm Canadian Markets: Commodities pull Toronto equity indexes lowerCanada's benchmark index declines, retreating from the previous session's 2009 high, after a rally in the U.S. dollar pushed commodity assets into the red.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 10:28 pm Write-Offs: 06.12.09$$$ Should California legalize and tax marijuana? [The Atlantic] $$$ TPG-Axon Posts Gains in May [Dealbook] $$$ Lehman to Pay Barclays $6 Million for Its Own Chairs [Bloomberg] $$$ Job of the Week: Brown Brothers Harriman needs a corporate finance senior associate. That could be you. [DB Career Center] 
Sponsored Topics: Brown Brothers Harriman & Co - United States - Bloomberg L.P. - Brown Brothers Harriman - California Source: Dealbreaker | 12 Jun 2009 | 10:24 pm Washington Calendar: Washington events for June 15 - 19A look at upcoming economic reports, congressional hearings and other news events in Washington.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 10:13 pm Weekend Investor: Risk-managed mutual funds are new but unprovedAfter last year’s market meltdown savaged just about every U.S. and international asset class, many investors have concluded that traditional portfolio diversification is not only discredited, but pure bunk.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 10:10 pm Nearly all dealers agree to work with new GM: CEO (Reuters)
Source: Yahoo! News: Business | 12 Jun 2009 | 10:09 pm Nearly all dealers agree to work with new GM: CEOWASHINGTON (Reuters) - Virtually all dealers asked to do business with the new General Motors Corp after bankruptcy have agreed to do so, while the automaker will work through the weekend to weigh appeals from those that are being cut loose, the company's chief executive said on Friday.Source: Reuters: Business News | 12 Jun 2009 | 10:09 pm UN Security Council toughens N Korea sanctionsThe United Nations Security Council unanimously agreed a package of sanctions against North Korea that looked likely to ratchet up tension between Pyongyang and the outside worldSource: Financial Times - US homepage | 12 Jun 2009 | 10:02 pm Top Ten: MarketWatch's top stories of the week, June 8-12Last week, the U.S. government guided General Motors U.S. into bankruptcy. This week, the U.S. government guided Chrysler out of Ch. 11 reorganization and into the waiting arms of Fiat.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 9:59 pm Dow: Back in black for 2009Stocks churned Friday, at the end of a mixed week on Wall Street, that nonetheless left the Dow industrials in positive territory for the year for the first time since January.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 9:53 pm Stocks, looking tired after 3-month run, hit pause (AP)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 9:49 pm Treasury faces pressure on price of TARP exitWASHINGTON (Reuters) - The U.S. Treasury Department is facing mounting pressure to ensure that taxpayers get a fair return on banks' warrants as the largest firms prepare to shake off government ownership stakes.Source: Reuters: Business News | 12 Jun 2009 | 9:35 pm Angry car dealers haggle for their jobsThese are hard times for car dealers. Across the nation, General Motors and Chrysler dealerships are pulling down their big roadside signs and closing their doors.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 9:34 pm Emerging Markets Report: Oil-rich Russia battles the global economic crisisAfter tumbling 74% in 2008, the MSCI Russia stock index has rallied 69% this year, tracking a rebound in oil prices and an improvement in global market sentiment. Now, investors are wondering whether the equities rally is sustainable and when an economic recovery might begin.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 9:30 pm Emerging Markets Report: Russia's MTS faces challenges, but CEO is upbeatThe economic crises gripping Russia and Ukraine as well as stiff competition from rivals are posing serious challenges to Mobile TeleSystems, Russia's largest mobile phone operator, but its chief executive remains upbeat about the company's prospects.
Source: MarketWatch.com - Top Stories | 12 Jun 2009 | 9:30 pm How the major stock indexes fared on Friday (AP)AP - Stocks ended mixed Friday, capping a quiet week on Wall Street after a three-month rally. The Dow rose for the fourth straight week. On Friday, drops materials producers and technology companies after strong gains pulled most stocks lower. Financial and health care stocks, which have lagged, turned higher.Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 9:29 pm Iran vote brings tense stand-offIran's presidential election was heading to a tense stand-off as state news agencies declared Mahmoud Ahmadi-Nejad, the firebrand incumbent, had been re-electedSource: Financial Times - US homepage | 12 Jun 2009 | 9:18 pm $120 check...'It feels good, just to get paid.'A year ago, Ed Neufeldt worked happily as a swingman at one of the plants that made this northeastern Indiana county America's RV Capital. Last fall, however, the plant closed, and Neufeldt, 62, became one of its casualties. Now, he is on a crew of volunteer ex-plant workers building a local homeless shelter's new wing. Recently, he landed a part-time bread delivery job -- the 6 a.m. to 10 a.m. shift a couple days a week. His first check? $120. "It's not much," Neufeldt conceded on a recent afternoon, adding, "It feels good, just to get paid to work."Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 9:15 pm Our love/hate relationship with workIn author Alain De Botton's new book, "The Pleasures and Sorrows of Work," the Briton muses on our modern relationship with work and how our occupations help shape our identities.Source: Marketplace Money | 12 Jun 2009 | 9:14 pm Hear: Iran's Shi'a Economy
Voting in Iran. Majid/Getty Images On today's Planet Money: -- Voters in Iran went to the polls today to decide whether President Mahmoud Ahmadinejad would keep his job. The race between Ahmadinejad and his main challenger was tight, and the deciding factor may end up being Iran's economy. Sayed Mohsen Naquvi, a Shi'a Islamic scholar who runs the non-profit Independent Viewpoints, says that if you want to understand Iran's economy, there's one book you need to read. Plus, fact-checking the particulars of a voluntary tax system with Alex's father-in-law. -- Your private investments in outer space doesn't have to be limited to paying $12 to see Star Trek. Planet Money intern Matt Katz visited a Space Business Conference in New York and says that the 257 billion dollar industry attracts everyone from wealthy space-obsessed geeks to investment analysts from Morgan Stanley. Bonus: a listener indicator from Boston, by way of the Islamic Republic of Mauritania. Download the podcast; or subscribe. Intro music: Women's "Black Rice." Find us: Twitter/ Facebook/ Flickr. Kerri Spindler-Ranta writes from Atar, Mauritania: My husband and I are serving as U.S. Peace Corps volunteers in Mauritania. We have been here a year now, and thought we were fortunate to have missed the worst of the financial crisis. We do own a condo in Boston, however, that we have rented in the past with no problems. It is in a good location, close to downtown, easily accessible to transit, and newly renovated. To continue into our second year of service, we need tenants by July 1. We have tried all the usual tactics, craigslist postings, social networking, and realtors, with no results thus far. Our planet money indicator? 4: the number of months it has taken us to find tenants. Last year we had tenants within a week of posting a single ad on craigslist. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Jun 2009 | 9:03 pm RBC's Jersey Says U.S. Economy May Not Grow for Long TimeSource: Bloomberg - All Podcasts | 12 Jun 2009 | 9:02 pm Facebook borrows from Twitter's playbookHeads up, Facebook-users: in just a few hours (midnight in your local time zone), you'll have the chance to choose a user name and corresponding URL for your profile.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 8:58 pm Portales's Kos Says Steeper Yield Curve to Benefit BanksSource: Bloomberg - All Podcasts | 12 Jun 2009 | 8:54 pm Key Obama aide defends bailoutsRead full story for latest details.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 8:53 pm Random House boss Gail Rebuck leads Queen's birthday honours for financial worldGail Rebuck the chair and chief executive of publisher Random House has been made a Dame in the Queen's Birthday Honours List.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:45 pm Wall Street rebounds in late tradeWall Street stocks erased most of their early losses, but they failed to break out of the week's narrow trading range on a day when floor trading in 242 companies, including Exxon Mobil and General Electric, was halted because of a computer problemSource: Financial Times - US homepage | 12 Jun 2009 | 8:43 pm The forecasting sage at Goldman Sachs that got a stuffingShe's back? Abby Joseph Cohen says things are getting back to normal - so it might be time to get out your tin hat.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:43 pm Defensives lift Dow, S&P but tech weighs on Nasdaq (Reuters)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 8:38 pm Defensives lift Dow, S&P but tech weighs on Nasdaq (Reuters)
Source: Yahoo! News: Business | 12 Jun 2009 | 8:38 pm Stimulus Package Could Lose $50 Billion To Fraud
But the Commander in Chief is on the problem.
Fraudsters eye huge stimulus pie, consultant says [Marketwatch]
Sponsored Topics: United States - Fraud - Director of the Federal Bureau of Investigation - Robert Mueller - Barack Obama Source: Dealbreaker | 12 Jun 2009 | 8:37 pm Treasury faces pressure on price of TARP exit (Reuters)
Source: Yahoo! News: Business | 12 Jun 2009 | 8:36 pm Barclays bankers' £370m windfallA group of 410 Barclays bankers will share a 607.5m £368m windfall following the sale of Barclays Global Investors to US asset manager BlackRock.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:33 pm Sovereign wealth funds back BlackRock move to acquire Barclays Global InvestorsThree sovereign wealth funds emerged as the mystery backers in the 13.5bn £8.2bn proposed acquisition of Barclays Global Investors.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:28 pm Recruitment firm Korn/Ferry acquires British headhunter Whitehead MannUSbased recruitment giant Korn/Ferry International is to buy its Londonbased rival Whitehead Mann in a move which will create the number one executive search firm in Britain and France.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:26 pm A epic deal that crowns Larry Fink as Wall Street's new kingWhen Larry Fink left First Boston in 1988 to work for a then barely known private equity group called Blackstone few would have thought that in the following two decades that the 36year old would go on to be standing atop a 35bn £21bn global business.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:23 pm Feinberg to tackle excessive riskKenneth Feinberg says he plans to address the issue of excessive corporate risk-taking in his role as the new US "pay czar".Source: BBC News | Business | World Edition | 12 Jun 2009 | 8:16 pm Barclays' marketbased solution leaves bailedout banks trailingAfter one of the longest periods of M?A midwifery John Varley chief executive of Barclays has finally delivered the 13.5bn £8.2bn deal to sell the bank's asset management business Barclays Global Investors BGI to BlackRock of the US.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:09 pm Icap's Michael Spencer sees pay drop by £2.4m as forex profits fall shortMichael Spencer chief executive of interdealer broker Icap took a £2.4m pay cut in the year to March.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:03 pm Investors in Keydata Investment Services can keep tax break on problem IsasHMRC has given the 30000 Keydata Investment Services investors holding noncompliant Isas hope that they will not have to repay tax relief they expected on their investment or close their plans.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 8:01 pm Housing life preservers not a catch-allGovernment foreclosure prevention programs are aimed at keeping homeowners in their homes. So why do foreclosures continue? Tamara Keith reports.Source: Marketplace Money | 12 Jun 2009 | 7:53 pm GM says tries to reach deal with Magna for OpelWASHINGTON (Reuters) - General Motors Corp is trying to cement an agreement with Canadian auto parts group Magna to buy its European unit, Opel, and is willing to broaden discussions if necessary, GM's chief executive said on Friday.Source: Reuters: Business News | 12 Jun 2009 | 7:53 pm Man Group jumps to top of FTSE 100 on talk it is a takeover targetMan Group surged to the top of the leaderboard amid renewed talk that the hedge fund manager is a takeover target.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Jun 2009 | 7:51 pm Getting PersonalTess Vigeland and economics editor Chris Farrell answer listeners' pressing questions about rent-to-own properties, the credit card reform bill, and saving for health care after retirement.Source: Marketplace Money | 12 Jun 2009 | 7:50 pm BGI marks milestone for BlackRockJohn Varley, Barclays' chief executive, hailed the bank as "one of the best capitalised in the world" as he unveiled the $13.5bn sale of its Barclays Global Investors asset management business to BlackRockSource: Financial Times - US homepage | 12 Jun 2009 | 7:40 pm Personal finance bloggers sound offWe last talked to personal finance bloggers Steve, Lynnae and Jim a year ago. We check back with them on the state of the financial climate and what commenters on their blogs are saying.Source: Marketplace Money | 12 Jun 2009 | 7:31 pm Plus board comes backMost of the Plus SMS board has returned, with the mobile communications content company citing a miscommunication for its departure on Thursday. The entire board resigned without explanation and the shares of the NZAX listed company...Source: New Zealand Herald - Business | 12 Jun 2009 | 7:30 pm Insurers May Have Another Way To Save Their AAA CMBS
Realpoint seeks to disarm S&P CMBS rating blows [Reuters]
Sponsored Topics: Standard & Poor - Credit rating - Business - Financial services - Reuters Source: Dealbreaker | 12 Jun 2009 | 7:29 pm California running out of $10,000 tax creditsTime is running out for California residents wanting to take advantage of a $10,000 tax credit. The state set aside $100 million to help home buyers purchasing newly built homes, hoping to jump start the moribund residential-construction market. But only about 20% of the pot is left.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 7:14 pm Summers: market interventions only temporaryWASHINGTON (Reuters) - Chief White House economic adviser Lawrence Summers on Friday vigorously defended the administration's aid for banks and carmakers as necessary, temporary measures rather than lasting market intrusions.Source: Reuters: Business News | 12 Jun 2009 | 7:03 pm Did Jamie Dimon Put The Kibosh On Ace Greenberg's Writing Career?
Sponsored Topics: Bear Stearns - JPMorgan Chase - Jamie Dimon - Magic - Barbara Walters Source: Dealbreaker | 12 Jun 2009 | 7:02 pm This Week’s LinksIndia is now outsourcing jobs to Brazil. (via WallStreetFighter) Credit Writedowns on how TARP repayments could make banks weaker. Lateral Action on 9 ways people respond to your content online. Kathy Kristof on mystery shopper scams. Spiegel on the Arctic’s game of oil/gas Monopoly.
Source: Business Pundit | 12 Jun 2009 | 6:59 pm Free benefits up for grabsThere are billions of government dollars available to help people with everything from assistance with groceries to home improvement. Reporter Jeff Tyler went to Ohio to check out a program that helps match people with benefits.Source: Marketplace Money | 12 Jun 2009 | 6:58 pm Did The Tax Rebates Work?I'd almost forgotten, but before President Obama's $787 billion stimulus package, President Bush signed a stimulus package called the Economic Stimulus Act. It contained roughly $95 billion in tax rebates that went out last spring. (This was a huge economic experiment: the package was more than twice as large as the $35 billion in rebates that went out in 2001.) Ever since then economists have been trying to figure out how well it worked. The Congressional Budget Office just posted this analysis. And I'm afraid the answer is that we may never know. As the graph above illustrates, our economy is so large that it's hard to detect whether $95 billion in rebates really spurred people to spend more. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Jun 2009 | 6:57 pm Straight StoryEconomics editor Chris Farrell remembers lessons learned from late economic consultant and historian Peter Bernstein, who died June 5 at the age of 90.Source: Marketplace Money | 12 Jun 2009 | 6:56 pm Sieminski Sees Plenty of Spare Crude Oil Refining CapacitySource: Bloomberg - All Podcasts | 12 Jun 2009 | 6:53 pm State stimulus spurs growth in ChinaHundreds of billions of dollars in emergency government spending has given the Chinese economy a shot in the arm, with official figures showing factory output and retail sales surged last monthSource: Financial Times - US homepage | 12 Jun 2009 | 6:52 pm Chart: Geek Out On TreasurysThe Federal Reserve may ease up on its buying of U.S. Treasury notes and bonds, reports the Wall Street Journal (subs. requ'd.). Buying Treasurys has been a key part of its plan to get cash to financial institutions, stimulate lending and drive down the interest rate. The paper says Fed officials think the economy has begun to stabilize, so it can back off the buying. After the jump, an actual slideshow of charts about Treasury notes -- and more.
This slideshow requires version 8 or higher of the Adobe Flash Player. Get the latest Flash Player. TEXT. Having trouble with the slideshow? Try this one.As you can see in the charts above, the latest numbers show that other countries continue buying Treasurys, which of course means they're lending money to the U.S. Now a peek inside the Federal Reserve: The blue swath above tracks the Federal Reserve's holdings of U.S. Treasuries, which grew as the Fed bought them from banks during the economic crisis -- a process you could call "quantitative easing" or "printing money." Win Thin, a currency strategist at Brown Brothers Harriman, notes that foreign central banks were parking record levels of their wealth in the Federal Reserve as of June 10. They may worry about U.S. inflation, but they don't seem to be running from the American dollar. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 12 Jun 2009 | 6:51 pm Fear stalks Chrysler amid Fiat shake-upFiat's boss announced a top-to-bottom shake-up of Chrysler's management, naming 23 executives who will now report directly to him – "literally a Xerox copy", as one Fiat executive puts it, of a new organisational structure he introduced at Fiat in JanuarySource: Financial Times - US homepage | 12 Jun 2009 | 6:49 pm Offer made for stake in SetantaUS investor Len Blavatnik is offering £20m for a 51% stake in the troubled Irish pay-tv channel Setanta.Source: BBC News | Business | World Edition | 12 Jun 2009 | 6:48 pm Computer glitch at NYSE halts some floor trading (AP)AP - A computer glitch briefly halted trading on the floor of the New York Stock Exchange for more than 200 stocks.Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 6:42 pm Airline capacity cuts may lead to higher fares (Reuters)Reuters - Plans by major U.S. airlines to slash the number of seats they sell may bolster fares this fall, further stabilizing prices that tumbled this year as economic weakness drained travel demand.Source: Yahoo! News: Business | 12 Jun 2009 | 6:40 pm Airline capacity cuts may lead to higher faresCHICAGO (Reuters) - Plans by major U.S. airlines to slash the number of seats they sell may bolster fares this fall, further stabilizing prices that tumbled this year as economic weakness drained travel demand.Source: Reuters: Business News | 12 Jun 2009 | 6:40 pm Naroff Sees 10-Year Treasury at 5% to 5.5% By Next YearSource: Bloomberg - All Podcasts | 12 Jun 2009 | 6:37 pm Avoid a buck-breaking mutual fundEven stable money market mutual funds have been risky as of late. But companies like Vanguard are striving to make sure the buck never breaks again. USA Today columnist John Waggoner explains.Source: Marketplace Money | 12 Jun 2009 | 6:35 pm RBNZ issues guidelinesThe Reserve Bank of New Zealand has released draft risk management guidelines for non-bank deposit takers. It is calling for submissions by June 29. The guidelines are a kind of checklist for risk management programmes. The programmes...Source: New Zealand Herald - Business | 12 Jun 2009 | 6:30 pm Summers denies adopting Europe-style policyThe Obama administration launched a strong defence against claims it was engaged in European-style industrial policy, saying its interventions in the corporate sector were "temporary, based on market principles and minimally intrusive"Source: Financial Times - US homepage | 12 Jun 2009 | 6:29 pm U.S. consumer mood improves, but price worries emergeNEW YORK (Reuters) - U.S. consumer confidence rose to a nine-month high in June, a survey showed on Friday, but inflation gauges showed worrisome signs of price increases that could slow any recovery from the longest recession since the Great Depression.Source: Reuters: Business News | 12 Jun 2009 | 6:28 pm Keeble Sees Signs of Life in U.S. Housing MarketSource: Bloomberg - All Podcasts | 12 Jun 2009 | 6:20 pm Toxic debt fears undermine euroTalk of sterling dropping to parity against the euro has evaporated as concerns over the single currency zone's banking system intensifySource: Financial Times - US homepage | 12 Jun 2009 | 6:18 pm A Call For Submissions: The NYSE's New TaglineHere's Steve Grasso's offering: "We have the speed but we also have the brains of a human being." Think you can top it?
Sponsored Topics: New York Stock Exchange - Richard Grasso - Business - Human resources - Company Source: Dealbreaker | 12 Jun 2009 | 6:04 pm Take This Hint And Run With It
Related: Black Russian, Black Gold
Sponsored Topics: Bank of America - Danny DeVito - Business - Citibank - It's Always Sunny in Philadelphia Source: Dealbreaker | 12 Jun 2009 | 5:56 pm Wishing for a piece of the IPO piePeople on the ground floor of companies like Google, Microsoft and Nike surely don't regret their risky investments. Producer Stephen Hoffman finds out which companies people on the street wish they would have taken advantage of early on.Source: Marketplace Money | 12 Jun 2009 | 5:48 pm Where have all the IPOs gone?Initial public offerings, or IPOs, are risky investments that have all but dried up during the recession. But Fidelity Investments is opening up exclusive access to IPOs from a private equity firm to drum up new business.Source: Marketplace Money | 12 Jun 2009 | 5:40 pm Capt. Sully Probably Saved AIG Millions
A.I.G. Balks at Claims From Jet Ditching in Hudson [NYT]
Sponsored Topics: Hudson River - Chesley Sullenberger - US Airways - Airline - AIG Source: Dealbreaker | 12 Jun 2009 | 5:40 pm Presented By:Source: Dealbreaker | 12 Jun 2009 | 5:40 pm Get In Blankfein's (Old) Bed
Sponsored Topics: Living room - Sanford I. Weill - Apartment - Henry Paulson - Stanley O'Neal Source: Dealbreaker | 12 Jun 2009 | 5:35 pm F1 ignores Ferrari threat to quitFerrari's dispute with motor racing's governing body deepened after the president ignored the Italian group's threat to quit and named it as a 2010 participantSource: Financial Times - US homepage | 12 Jun 2009 | 5:33 pm Woosh talks to 2degreesWoosh Wireless is talking to soon-to-launch mobile operator 2degrees over sharing cell sites. Marketing manager Gerome Garthwaite said the company had also been talking to other mobile operators.Source: New Zealand Herald - Business | 12 Jun 2009 | 5:30 pm First Destruction, Then NothingAndria Krewson sends this picture from a project on hold not far from downtown Charlotte, N.C. She writes that the WWII-era Morningside Apartments used to be here, before they were bulldozed in August 2007 to make way for ... you know, for something. "In the mean time, grass and weeds hold down the dirt," Krewson writes. The $65 million project was to have been a planned community of 10 blocks, with 400 apartments and 600 residences for sale. Residents were to enjoy 25,000 square feet of restaurants and shops. The developer told the Charlotte Observer last year that the site provides "a unique opportunity to provide quality homes in a setting with history, character and green space." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Jun 2009 | 5:14 pm Computer Trubs At NYSEAccording to Bob Pisani, "three servers are down," and trading in over 240 stocks has been halted, among them GE, Merck, and Exxon Mobil. Supposedly the "glitch will be resolved momentarily." In perhaps related news, if you're a conspiracy theorist, some layoffs apparently went down at the NYSE this morning. We're not saying, we're just saying.
Sponsored Topics: ExxonMobil - New York Stock Exchange - Business - Bob Pisani - Investing Source: Dealbreaker | 12 Jun 2009 | 5:05 pm Can Windows 7 save PCs?Windows 7 is coming soon. But having a PC sales rebound come with it seems unlikely.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 4:40 pm NYSE says connectivity restored on server (Reuters)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 4:38 pm Loss for Geneva FinanceGeneva Finance reported an annual loss and revised down profit forecasts but said it is committed to seeing the company through a difficult period. It reported a $7 million loss in the year to March 31 compared to a loss of $7.9 million...Source: New Zealand Herald - Business | 12 Jun 2009 | 4:30 pm The Cost Of Not SmokingIn a dramatic shift, Congress yesterday voted to give the FDA authority to regulate tobacco. Everyone seems to agree this could save many lives. Interesting note from a post on the Congressional Budget Office Director's blog: Counterintuitively, a reduction in smoking might add to the government's costs in many cases by enabling some people to live longer and to incur health care costs over longer periods. In those cases, government spending for Social Security, Medicare, and other retirement and mandatory spending programs, would increase. The House and Senate passed slightly different versions of the bill. Both require large labels on cigarette packages ("WARNING: Smoking can kill you." is one option). The House calls for the statement to occupy "30 percent of the front and rear panels of the package." The Senate version calls for labels that take up 50% of the front and back. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Jun 2009 | 4:29 pm Yahoo CFO is GE veteranYahoo on Thursday announced it has appointed longtime General Electric veteran Tim Morse as its new chief financial officer.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 4:24 pm Revisiting Consumer Sentiment: Looking At The FutureThe University of Michigan/Reuters consumer sentiment numbers almost containly contain too much data. A careful reading of the figures show that they often conflict with one another leaving nothing but a puzzle. The most important figure for June is probably that expectations fell to 65.4 from 69.4. Consumers are becoming more worried about jobs, energy costs, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 4:14 pm Retire rich: 6 home deals in the desertLooking to land a bargain on a retirement home? Try Phoenix.Source: Business and financial news - CNNMoney.com | 12 Jun 2009 | 4:09 pm Weekly Wrap: Inflation and regulationFortune's Leigh Gallagher and Clusterstock.com's John Carney talk with Kai Ryssdal about whether we should be concerned about inflation and how the government is missing a chance to regulate the banking industry.Source: Marketplace | 12 Jun 2009 | 4:08 pm Carmakers can learn from racing rivalryPlayboy Magazine editor and author A.J. Baime talks with Kai Ryssdal about the great racing rivalry between Ford and Ferrari in the 60s and lessons the U.S. auto industry can learn from racing's golden age.Source: Marketplace | 12 Jun 2009 | 4:07 pm Bad deals make U.S. bad guy in ChinaThe 'Made in China' label has taken a beating the past few years. But, as more Chinese export deals to the U.S. go sour, there may be a new bad guy on the block. Scott Tong reports.Source: Marketplace | 12 Jun 2009 | 4:07 pm Who'll work for super-regulator agencyPlans to create a super-regulator to spot systemic risk in the financial industry and prevent it will soon be unveiled, and lots of people will be needed for the agency. Commentator Susan Lee sorts out the different candidates.Source: Marketplace | 12 Jun 2009 | 4:07 pm Benefits from the digital TV switchTV stations across the country will completely switch from analog to digital, and there are some surprising benefits to the conversion. Joel Rose reports.Source: Marketplace | 12 Jun 2009 | 4:07 pm FutureGen plant revival boosts coalThe Obama administration is reviving plans to build the first commercial carbon capture plant in the U.S. Sam Eaton reports on the impact the move might have.Source: Marketplace | 12 Jun 2009 | 4:07 pm Meet the world's biggest asset managerU.S. investment firm BlackRock will buy Barclays Global Investors, becoming the world's largest money manager. The combined company will control $2.7 trillion in assets. Amy Scott reports on why you may not have heard about the firm.Source: Marketplace | 12 Jun 2009 | 4:07 pm How the book trade is turning a pageDoris Mousdale is taking the plunge. No, that's not her Facebook status, it's her next move in a respected book trade career that includes top positions with Whitcoulls and Dymocks and a host of radio and television review programmes. Made...Source: New Zealand Herald - Business | 12 Jun 2009 | 4:00 pm Brian Gaynor: Taking ING's cash offer looks like no-brainerInvestors in the controversial ING Diversified Yield Fund (DYF) and ING Regular Income Fund (RIF) have major decisions to make before July 13. Their options are: 1) To keep their existing units in these funds. 2) Accept...Source: New Zealand Herald - Business | 12 Jun 2009 | 4:00 pm Southerners get turn to ask ING about fundsING chief executive Helen Troup yesterday fronted up to disgruntled southern investors in Dunedin to explain the latest offer in the long-running saga of frozen funds. Troup said that the most commonly asked question was "what...Source: New Zealand Herald - Business | 12 Jun 2009 | 4:00 pm Bankers reluctant to open vaultCalifornia billionaire Igor Olenicoff had already invested US$200 million ($310 million) with UBS in 2001 when his Swiss bankers ushered him to an underground vault in Geneva. Olenicoff, a real estate developer with a taste for...Source: New Zealand Herald - Business | 12 Jun 2009 | 4:00 pm Goldman Sachs due for another money potGoldman Sachs , the Wall St firm that earned US$2.3 billion ($3.5 billion) last year, stands to get up to US$321 million if the state and city fail to meet construction and security deadlines at the World Trade Centre site. Goldman...Source: New Zealand Herald - Business | 12 Jun 2009 | 4:00 pm Tax cuts to aid Kenya broadbandTax cuts and incentives give a boost to Kenyan broadband and mobile phone users as a new fibre optic cable is launched.Source: BBC News | Business | World Edition | 12 Jun 2009 | 3:53 pm Secondary Issuers Getting Hit (AMP, ATPG, ERIC, MI, VMC)We are seeing some active trading in the stocks which raised capital via secondary offerings today. These are all down except for one and today’s hopper has Ameriprise Financial Inc. (NYSE: AMP), ATP Oil & Gas Corp. (NASDAQ: ATPG), LM Ericsson Telephone Co. (NASDAQ: ERIC), Marshall & Ilsley Corporation (NYSE: MI), and Vulcan Materials Company [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 3:24 pm JOLTing News For Job SeekersToday's fun chart shows the number of job openings and the number of hires, in the U.S since the end of 2006. As you'd expect, both numbers have gone down drastically. Note the growing gap between the reported number of hires and the reported number of job openings. This suggests companies are filling their openings either right away, without actually advertising that a job is open -- perhaps by calling back people who've been laid off . These numbers come from the monthly Job Openings and Labor Turnover Survey (or JOLTS) put out by the Bureau of Labor Statistics. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Jun 2009 | 3:18 pm Milligan Says U.S. Mortgage Rates `Worrying' for InvestorsSource: Bloomberg - All Podcasts | 12 Jun 2009 | 2:50 pm This Week’s Weird Jobs
1. Fairbanks: Experienced Concrete Boom Pump Operator Immediate opening for qualified Concrete Boom Pump Operator with mechanical background. Must have valid CDL, and working knowledge of Morgen booms. Salary DOE. I know a concrete boom pump is truck-mounted, but the job title still sounds incredibly cool, invoking images of men with strong pecs and bad hearing. “I run a concrete boom pump” could be an excellent bar pickup line…
Looking for a couple guys who can , or have, ereected a Miracle Steel building. Give me a quote to erect and install exterior metal. Once again, a lovely job title-cum-pickup line, though a bit more forward than boom pump. 3. Alaska: Food Expediter Theatrepub is looking for an experienced food expediter. This position is very fast paced and requires extreme organizational skills. Must have good attitude and work well with others. Part time/Full time. Food expediter? Now they’re even giving fast food cooks fancy titles. 4. National: Cat-Lover Television Host Needed If you’re 20′ish to 40′ish, know a bunch about cats, are open, outgoing, camera-friendly, charming and stand a solid chance at being the biggest cat lover in all of the feline universe - you could be just what we’re looking for! We are seeking the Anthony Bourdain of the feline world to be the backbone of our cat crazy travel show on a MAJOR CABLE NETWORK. Your skill set includes the following: Somehow, I can’t imagine racy coverage of the dark underbelly of the cat world, which Bourdain pulled off with cuisine. This show could be interesting.
National transportation company is looking for drivers for a part time postion in the area of Central Los Angeles, Long Beach, and West/East Los Angeles. Must drive at least 85 on most roads, compulsively cut people off, and have a strong middle finger. Happy Friday!
Source: Business Pundit | 12 Jun 2009 | 2:13 pm Magnus Sees Years of Higher Taxes, Reduced Spending for U.S.Source: Bloomberg - All Podcasts | 12 Jun 2009 | 2:01 pm Savient (SVNT) Rises 55% On Bad NewsShares in pharma firm Savient (SVNT) are up 55% to $9.13 on what would appear to be very bad news. The FDA issued a statement saying it has safety concerns about the company’s gout drug. According to the agency, side effects of the drug Krystexxa include sudden death from heart attack and allergic reactions. The silver lining is that the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 1:49 pm Auto Industry Light At The End Of The Tunnel?There may be a tiny pinhole of light at the end of the auto sales depression tunnel. VW said its global shipments rose 1.5% last month. It is not much, but given the relentless drop-offs in car unit sales in most parts of the world over the last two years, it is a welcome break. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 1:31 pm What recession?The Le Mans 24 hours race is as lavish as everSource: BBC News | Business | World Edition | 12 Jun 2009 | 1:08 pm Iceland defies downturn as sales rise 16%Iceland Foods announced record results today as the frozen food specialist defied the recession with sales up 16 per cent. Source: Latest Business News from Times Online | 12 Jun 2009 | 12:57 pm B of A Cuts TARP Giants (BAC, JPM, GS, MS)Bank of America Merrill Lynch (BofA-Merrill), the new name for the brokerage arm of Bank of America Corporation (NYSE: BAC), has come out this morning with a cautious call on brokerage firms and bank holding company giants. It has trimmed estimates on JPMorgan Chase & Co. (NYSE: JPM), Goldman Sachs Group Inc. (NYSE: GS) and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 12:49 pm Where's My Carbon Credit, Dude?We took a righteous stab this morning at explaining the basics of how a cap-and-trade program like the one being considered in congress might be used to limit global warming and carbon emissions. Or, say, limit the use of the word dude. Internally, there was much debate here about what movie clip to use. Our producer Jacob Ganz emailed : "Dude, you can totally tax a turtle." Our editor Uri Berliner remembered the Bud Light ads (video above, other ads here and here.) And let me point out, it's not just economists debating whether a carbon tax or a cap-and-trade approach would be better. I just got this press release from the dudes at the National Pork Producer's Council, titled "Cap And Trade Preferable To Carbon Tax." A quote: "We are already losing money today for every pig sold, and any additional costs will simply drive us deeper and more firmly into the hole." For more on the economic debate, here's a report by the Congressional Budget Office which hits the advantages of a tax, and a second analysis that favors cap-and-trade. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 12 Jun 2009 | 12:44 pm Lenders rush to raise fixed-rate mortgagesA fresh wave of increases to mortgage interest rates by Britain's biggest mortgage lenders is set to hit hundreds of thousands of homeowners and buy-to-let landlords. Source: Latest Business News from Times Online | 12 Jun 2009 | 12:41 pm Lindsey oil row escalates as workers down toolsMore than a thousand workers at the Lindsey oil refinery are refusing to work this morning with hundreds staging a protest outside the plant after learning that a number of contractors would lose their jobs. Source: Latest Business News from Times Online | 12 Jun 2009 | 11:50 am Bad Advertising for McDonald’s
Source: Business Pundit | 12 Jun 2009 | 11:41 am Aer Lingus cuts some US flightsAer Lingus announces it is to suspend flights from Dublin to some of its US destinations over the winter.Source: BBC News | Business | World Edition | 12 Jun 2009 | 11:39 am Top Analyst Upgrades (ARMH, ASML, BSX, CLX, GR, IFX, LAZ, SKS, SNIC, VICL)These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street early this Friday morning with more than two hours until the market opens: ARM Holdings (ARMH) Started as Overweight at Barclays. ASML Holding (ASML) Started as Overweight at Barclays. Boston Scientific (BSX) Started as Outperform at Baird. Clorox (CLX) Raised [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 11:31 am Top Analyst Downgrades (ABB, AKS, CME, ERIC, HMC, NOK, SKH)These are the top pre-market analyst downgrades and cautious research calls we have seen from Wall Street early this Friday morning with more than two hours until the market opens: ABB (ABB) Started as Reduce at Nomura. AK Steel (AKS) Cut to Neutral at Goldman Sachs. CME (CME) Started as Sell at RBS. Ericsson (ERIC) Cut to Underweight at [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 11:27 am Indian factory output up in AprilIndia's industrial output rose unexpectedly in April, figures show, fuelling hopes that a recovery may be in sight.Source: BBC News | Business | World Edition | 12 Jun 2009 | 11:25 am European stocks slip on eurozone data (AFP)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 11:11 am Eurozone production's record fallIndustrial production in eurozone countries was down a record 21.6% in April from a year ago, figures show.Source: BBC News | Business | World Edition | 12 Jun 2009 | 11:11 am European stocks fall after grim industrial data (AP)
Source: Yahoo! News: Business | 12 Jun 2009 | 11:03 am European stocks fall after grim industrial data (AP)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 11:03 am China output, sales up as stimulus takes effect (AFP)
Source: Yahoo! News: Business | 12 Jun 2009 | 10:33 am At $70 Oil, Major Oil Stocks Still Look Cheap (COP, XOM, CVX, MUR, PBR, PTR, VLO)We keep getting asked a single question from readers and from our own industry and professional contacts: Are Oil Stocks Cheap? There is a very simple answer in today’s markets: Oil stocks look very cheap (if oil is going to stay anywhere near $70.00). Some of these are our top picks and some are [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 10:15 am Video Game Sales Still Bleeding, Xbox And PS3 Gain GroundVideo game and game console systems sales plunged in the US in May. According to industry research group NPD, software sales were down 17% to $449 million and sales of players dropped 30% to $303 million compared with the same month last year. While the Nintendo Wii is still the market leader, it is losing [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 9:57 am BlackRock (BLK) Buys Barclays (BCS) Unit: Money Still Available For Sterling DealsBlackRock (BLK), the top-tier money management firm, showed that large M&A transactions can be closed, even in a tight economy, if the buyer has a sterling reputation and long-term record of significant success. Barclays (BCS) put its investment unit up for sale, and Blackrock bought it for $13.5 billion. The deal is particularly impressive since the last [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 12 Jun 2009 | 9:36 am Asian markets gain on upbeat US, Chinese data (AP)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 9:26 am London stocks down at the open (AFP)
Source: Yahoo! News: Stock Markets News | 12 Jun 2009 | 8:24 am
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