World Business News Headlines for June 15, 2009

Moussavi camp postpones protest

Mir-Hossein Moussavi and Mehdi Karroubi, two of the Iranian candidates disputing the controversial presidential election, will instead walk through the streets of Tehran on Monday afternoon urging calm
Source: Financial Times - US homepage | 15 Jun 2009 | 10:39 am

World stocks down as dollar rise hits commodities (AP)

AP - World stock markets fell Monday as some investors worried that the three-month rally in share prices may not be justified by economic indicators and as the dollar was boosted by comments this weekend from Russia's finance minister.

Source: Yahoo! News: Stock Markets News | 15 Jun 2009 | 10:34 am

The Postal System Becomes An Anacronysm

The US Postal System, which has been dying for years due to the advent of the fax, e-mail, and overnight delivery, may finally be close to its last act. The agency lost nearly $2 billion in its last fiscal year and is faced with cuts of up to 3,100 offices potentially eliminating thousand of jobs. Media reports [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 10:27 am

American underdog

Thousands of jobs are riding on Ener1's efforts to build the best car battery in the world.
Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 10:27 am

IRS: Pay for personal calls on work CrackBerry

Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 10:23 am

Rain matches aviation gloom at Paris Air Show

Gray, rain-laden skies matched the mood at the Paris Air Show as it opened Monday amid grim times for the aviation industry. Yet Boeing Co. struck a defiant tone, with its head of civil...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:21 am

Six Flags bankrupt ... but open

In an effort to shed $1.8 billion in debt, popular theme-park chain Six Flags announced Saturday that it was filing for Chapter 11 bankruptcy.
Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 10:20 am

World stocks down as dollar rise hits commodities

World stock markets fell Monday as some investors worried that the three-month rally in share prices may not be justified by economic indicators and as the dollar was boosted by comments...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:18 am

BRIC seeks global voice at first summit

MOSCOW (Reuters) - The leaders of the world's biggest emerging markets -- Brazil, Russia, India and China -- meet in the coming week for their first formal summit, seeking a louder voice on the global stage.

Source: Reuters: Business News | 15 Jun 2009 | 10:12 am

TransUnion Revenue Manager(SM) Meets Healthcare Challenges Brought On By Today's Economy with New Features

SEATTLE, June 15 /PRNewswire/ -- As the slumping economy continues to pressure healthcare organizations, more emphasis has been placed on streamlining costs and creating additional...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:11 am

Even Google (GOOG) Pays Attention To Microsoft’s (MSFT) Bing

There are a growing number of reports that Microsoft’s (MSFT) new Bing search engine is causing a little perspiration to break out on the foreheads of the people who run Google (GOOG). Early industry research shows that Microsoft’s search market share surged in the two weeks after Bing reached the market. It has been widely assumed [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 10:10 am

Finmeccanica to sell STMicroelectronics share

Italian aerospace giant Finmeccanica will sell its 3.2-percent share in Geneva-based chipmaker STMicroelectronics, the Italian company's head told the Il Sole 24 Ore newspaper on Monday.
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:06 am

Indications: Futures point to weaker start for U.S. markets

U.S. stock futures were pointing to a weak open for Wall Street on Monday as falling commodity prices and a rising dollar combined with global economic worries and weekend talk from global finance ministers of ending fiscal stimulus.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 10:06 am

RICS says gap between asking and selling prices of houses is narrowing

The Royal Institution of Chartered Surveyors RICS said the gap between the asking and selling price of houses is narrowing.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 10:02 am

Eurozone sheds record 1.2 million jobs

A record 1.2 million people lost their jobs across the 16 euro countries in the first three months of the year as companies cut back severely to survive the recession, official EU data...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:02 am

Ma Anshan Modern Farming Receives Investment From KKR

Leading Dairy Farming Company Poised for Further Growth Advanced Dairy Farm Practices Take off in China HONG KONG, June 15 /PRNewswire/ -- Kohlberg...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:00 am

Experian Introduces Powerful New Portfolio Management Scores That Target Small-Business Risk

New scores outperform other offerings by as much as 60 percent COSTA MESA, Calif., June 15 /PRNewswire-FirstCall/ -- Experian(R), a global information services...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 10:00 am

A New And Improved XBox, Microsoft’s (MSFT) Electronics Ace

All the evidence points to the sales of the Nintendo Wii slowing. That would make sense. More than 20 million have been sold in the US. The market gets saturated at some point. The latest industry research figures show Wii sales running down month-compared-to-previous-month. The Microsoft (MSFT) Xbox 360, in the meantime, is holding its [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 9:58 am

Facebook borrows from Twitter

Heads 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 | 15 Jun 2009 | 9:57 am

Silliest Steve Jobs rumor yet

Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 9:56 am

Wessanen shares slide on accounting irregularities

Shares in Dutch food producer Royal Wessanen fall as much as 14% Monday after the group says it has discovered “irregularities” in the financial reports of its North American business.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 9:55 am

Corporate cutbacks hit Majestic

Majestic Wine says the fizz has gone out of the champagne market after business customers cut their purchases of bubbly.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 9:54 am

AP Executive Morning Briefing

AP IMPACT: Weak security enables credit card hacks Every time you swipe your credit card and wait for the transaction to be approved, sensitive data including your name and account...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 9:49 am

Holcim to raise $1.9 bln for Aussie, China deals

Zurich cement producer Holcim said it is looking to sell 2 billion francs ($1.9 billion) of shares to expand its presence in China and Australia.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 9:47 am

Sir Alan Sugar voted Britain's most inspirational business figure

New Enterprise Tsar Sir Alan Sugar has been voted Britain's most inspirational business figure in a new poll.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 9:44 am

Another Vote For A Vicious “Double Dip”

After several weeks of conviction on the part of most economists that the current recession is a “single” dip which will end later this year, the advocates of a “double dip” recession are out in force. Most of the champions of two dips see a brief swing up in the GDP of the developed nations [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 9:43 am

Stock futures signal losses as oil retreats (Reuters)

Reuters - U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.2 percent, Dow Jones futures down 1 percent, and Nasdaq 100 futures down 1.1 percent at 0905 GMT.

Source: Yahoo! News: Business | 15 Jun 2009 | 9:36 am

Stock futures signal losses as oil retreats

(Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.2 percent, Dow Jones futures down 1 percent, and Nasdaq 100...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 9:36 am

Stock futures signal losses as oil retreats

(Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.2 percent, Dow Jones futures down 1 percent, and Nasdaq 100 futures down 1.1 percent at 0905 GMT.

Source: Reuters: Business News | 15 Jun 2009 | 9:36 am

Stock futures signal losses as oil retreats (Reuters)

Source: Yahoo! News: Stock Markets News | 15 Jun 2009 | 9:36 am

Debate over the middle-class 'golden years'

Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 9:36 am

The 6-year fight to start a Boston company

Erroll Tyler doesn't give up easily. For six years the Melrose, Mass. entrepreneur has been battling the cities of Cambridge and Boston to get his amphibious-vehicle sightseeing company, Nautical Tours, off the ground and into the water. His case is pending in federal court; here's a look at how it got there.
Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 9:35 am

Stronger dollar sends miners down

A resurgence in the dollar and concern about the fragility of economic recovery is depressing the oil price which fell below $71 per barrel in early trading this morning.$

Source: Latest Business News from Times Online | 15 Jun 2009 | 9:33 am

Earnings Watch: Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies are saying about future quarters.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 9:31 am

Santa Monica Pier Taps The Pollack PR Marketing Group for PR Support of Its Centennial Celebration Events

Agency Chosen For Strategic Guidance And Implementation Of International And National Media Relations Program LOS ANGELES, June 15 /PRNewswire/ -- The Pollack PR...
Source: RSS feed - channel BNewsBusiness | 15 Jun 2009 | 9:30 am

Cancel cable - watch TV online

There has perhaps never been a better time to drop your $60-a-month cable bill and subsist purely on free web video.
Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 9:25 am

G8 Summit Wishful Thinking

The financial ministers of the G8 nations spent the better part of three days and weeks of preparation to reach a point where most of the members believe that it is time to curtail stimulus spending and prepare for a recovery. The one country out of lockstep was the US, which insists that the recession [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 9:24 am

Wall Street set to tumble

U.S. stocks were set to fall sharply Monday as a stronger dollar took momentum out of the commodities rally and investors paused for breath after the recent run on Wall Street.
Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 9:23 am

Qatar to order jets, U.S. axes F-22 display (Reuters)

Reuters - An order from Qatar Airways looked set to brighten a glum start to a rain-soaked Paris Air Show on Monday as the Gulf carrier displays its financial muscle in the face of competing airlines bludgeoned by recession.

Source: Yahoo! News: Business | 15 Jun 2009 | 9:11 am

Qatar to order jets, U.S. axes F-22 display

PARIS (Reuters) - An order from Qatar Airways looked set to brighten a glum start to a rain-soaked Paris Air Show on Monday as the Gulf carrier displays its financial muscle in the face of competing airlines bludgeoned by recession.

Source: Reuters: Business News | 15 Jun 2009 | 9:11 am

Remaking Financial Regulation One Brick At A Time

The Administration is about to release its new plans and programs to regulate financial firms and the trading markets so the the catastrophe of 2008 can never happen again. The core of the policies is to cut and track risk wherever and whenever it can be ferreted out and killed before it spreads across the [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 9:03 am

London Markets: Commodity producers pace U.K. stock retreat

U.K. stocks slump on Monday, with commodity producers taking it on the chin after a call from the world’s top finance ministers to rein in unprecedented monetary and fiscal stimulus.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 9:02 am

Majestic Wine suffers as customers shun booze cruises

Majestic Wine the UK's largest wine warehouse chain saw fullyear profit fall by 55pc as the high euro discouraged customers from shopping abroad.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 8:59 am

China antitrust law may bar Rio deal: reports

Chinese authorities could use a new antitrust law to block Rio Tinto’s planned iron-ore joint venture with BHP Billiton, while a government spokesman says concern over the planned tie-up is understandable, reports say.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 8:59 am

TomTom falls on new shares plan

TomTom shares are the biggest faller in Amsterdam after the satellite navigation firm announces plans to issue new shares to raise money.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 8:56 am

Endemol to discuss Setanta stake

Dutch media giant Endemol is in talks to take a substantial stake in ailing Irish sports broadcaster Setanta.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 8:56 am

60,000 take up car scrappage cash

The UK government says orders for new cars under its scrappage subsidy scheme have reached the 60,000 mark.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 8:52 am

Ethiopia plans new rail system

Ethiopia confirms it plans to build an extensive new railway system that could involve 5,000km of track.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 8:48 am

John Dvorak's Second Opinion: Social networking: No sale!

Social networking is not much of a marketing tool, Knowledge Networks says in a recent research report. Social networking, it seems, is about people, not products.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 8:48 am

Oil Prices And The Illusion Of New Inflation

It has become commonplace among analysts and oil traders to fear that crude prices are up so much that inflation will have to return the market. A recent piece from Reuters reinforces that sentiment. But, inflation is based on the ability of businesses and consumers to continue to buy what they buy now and take on [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 8:46 am

Rebels target Chevron facility in Nigeria

Source: Business and financial news - CNNMoney.com | 15 Jun 2009 | 8:32 am

'Radical' Holyrood powers urged

Holyrood should take charge of half the income tax raised in Scotland, says the body reviewing Scottish devolution.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 8:26 am

Boeing sees mid-2010 commercial plane recovery

PARIS (Reuters) - The commercial aircraft chief of U.S. planemaker Boeing expects growth to return to the industry in the middle of next year, he told a news conference at the Pairs Air Show on Monday. The recovery would be in both air freight and air traffic, though the big question remained the shape and scope of the upturn, Scott Carson said.

Source: Reuters: Business News | 15 Jun 2009 | 8:23 am

Boeing sees mid-2010 commercial plane recovery (Reuters)

Reuters - The commercial aircraft chief of U.S. planemaker Boeing expects growth to return to the industry in the middle of next year, he told a news conference at the Pairs Air Show on Monday. The recovery would be in both air freight and air traffic, though the big question remained the shape and scope of the upturn, Scott Carson said.
Source: Yahoo! News: Business | 15 Jun 2009 | 8:22 am

USPS eyes further cuts: Journal

The U.S. Postal Service, having posted a nearly $2 billion fiscal second-quarter loss, contemplates cutting tens of thousands more jobs.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 8:13 am

Fresh air

Can wind save South Africa from blackouts?
Source: BBC News | Business | World Edition | 15 Jun 2009 | 8:11 am

Punch Taverns to raise £350m to cut debt

Punch Taverns, the embattled pub company, this morning announced plans to raise £350 million to cut debt in response to difficult trading traditions.

Source: Latest Business News from Times Online | 15 Jun 2009 | 8:08 am

Media Digest 6/15/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters: The heads of the emerging markets, the so-called BRICs, held their first global summit. Reuters: Obama will be tested this week on financial reforms. Reuters: Rich nations are working on an exit from stimulus packages. Reuters: Pfizer (PFE) is trying to do deals to improve its emerging market presence. Reuters: China is playing down hopes for a fast [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 8:01 am

Apple could see margins at risk with price cuts

Apple Inc. has typically commanded premium prices for its products, and earned better profits than its rivals as a result. But recent price cuts on Mac laptops and the iPhone may pinch its profit margins, which have long been the envy of the consumer electronics space.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 8:01 am

Asciano drops sale in favour of share issue

Asciano, the Australian ports and rail infrastructure group, is to raise at least A$2bn by selling new shares after abandoning plans to divest assets to private equity groups including Carlyle and TPG
Source: Financial Times - US homepage | 15 Jun 2009 | 7:59 am

Europe Markets: Europe stocks drop after call to rein in spending

Stocks in Europe trade lower on Monday as top finance ministers say they will look to end the unprecedented monetary and fiscal stimulus that has helped the global economy come close to stabilizing after the credit crunch.

Source: MarketWatch.com - Top Stories | 15 Jun 2009 | 7:57 am

Punch Taverns launches £350m placing

Punch Taverns one of the UK's largest pub landlords has launched a £350m placing aimed at easing its £4.5bn debt burden.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 7:47 am

Paris Air Show: aerospace industry gathers in search of a lift

An atmosphere of gloomy restraint hangs over the show's weeklong centenary celebrations.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 7:36 am

Asia Markets And Europe Open 6/15/2009

Markets in Asia were mixed. The Nikkei was down 1% to 10,040. The Hang Seng dropped 1.1% to 18,878. The Shanghai Composite was up 1.7% to 2,790. At the open in Europe, the FTSE was down .5% to 4,418. The Dax was off .5% to 5,026 and the CAC 40 dropped .6% to 3,307. Data from Reuters and MarketWatch. Douglas A. [...]

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Source: 24/7 Wall Street | 15 Jun 2009 | 7:30 am

Matalan makes strong start

Matalan the British outoftown fashion and homewares retailer reported a 6.3pc rise in core annual earnings on Monday and said it had made a strong start to its new financial year.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 7:21 am

Downturn casts shadow over air show

Aerospace and defence companies gather in Paris in the midst of an economic crisis that is crippling the industry.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 7:09 am

Dollar's reserve status 'is safe'

The US dollar strengthens after Russia's finance minister says it is likely to stay as the world's main reserve currency.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 7:05 am

Australian stocks: Market closes in the red

PERTH - The Australian share market closed in the red as lower base metal prices weighed on the resources sector. The benchmark S&P/ASX200 index was down 30.5 points, or 0.75 per cent, at 4,031.7, while the broader All Ordinaries...
Source: New Zealand Herald - Business | 15 Jun 2009 | 7:01 am

Pub owners aim to raise £350m

UK pub-owning group Punch Taverns says it hopes to raise cash through a new share offering.
Source: BBC News | Business | World Edition | 15 Jun 2009 | 7:01 am

Pair bet on the future of independent films

Two industry veterans, undeterred by the deep downturn, launch DF Indie Studios with a goal of making and distributing 10 to 12 small-budget movies a year. ...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

'Taking of Pelham 123' and 'Imagine That' fizzle

Returning films 'The Hangover' and 'Up' dominate the weekend box office. The summer box office has officially...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

'The Hangover' still hanging on at No. 1

Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

Hunch wants you to give it some ideas

The website will use detailed user profiles created through hundreds of questions to offer advice to consumers. ...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

Gasoline price surge comes at bad time

Opinions on its cause differ, but the rise in gas prices, the fastest-paced on record, could stymie an economic recovery before it even gets underway, analysts say. ...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

Data expected show economy is moving toward recovery

Reports expected on manufacturing, housing and an index of leading economic indicators hint of a rebound this year. ...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

'Taking of Pelham 123' and 'Imagine That' fizzle

Returning films 'The Hangover' and 'Up' dominate the weekend box office.

The summer box office has officially gone south.

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

MGM touting low-cost programming to cash-strapped TV stations

'This TV' is a 24/7 offering of vintage films and television shows that local stations can use to draw viewers to their digital channels while gaining ad revenue.

Metro-Goldwyn-Mayer Inc. has found an economical solution for cash-strapped TV stations looking to fill their digital space: "Beach Blanket Bingo."

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

MGM touting low-cost programming to cash-strapped TV stations

'This TV' is a 24/7 offering of vintage films and television shows that local stations can use to draw viewers to their digital channels while gaining ad revenue. ...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

'The Hangover' still hanging on at No. 1

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

Hollywood hits the stop button on high-profile Web video efforts

Internet video businesses launched by such firms as Disney, HBO, NBC and AOL have failed. Part of the problem is that YouTube is a juggernaut. ...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

Hunch wants you to give it some ideas

The website will use detailed user profiles created through hundreds of questions to offer advice to consumers.

Hunch.com helps users search for answers -- but first, it performs a detailed search on the users themselves.

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

Data expected show economy is moving toward recovery

Reports expected on manufacturing, housing and an index of leading economic indicators hint of a rebound this year.

Reports on manufacturing and housing this week will probably show that the U.S. economy in May, although still in a recession, took additional steps toward establishing a recovery this year, economists said.

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

The week ahead at a glance

At a glance
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 7:00 am

The week ahead at a glance

At a glance

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

Gasoline price surge comes at bad time

Opinions on its cause differ, but the rise in gas prices, the fastest-paced on record, could stymie an economic recovery before it even gets underway, analysts say.

Gasoline prices have risen at an unprecedented pace this year, pushing the average pump price in San Francisco and a few other California towns past the $3 mark for regular gas. In Southern California, many filling stations also have passed that benchmark.

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

Hollywood hits the stop button on high-profile Web video efforts

Internet video businesses launched by such firms as Disney, HBO, NBC and AOL have failed. Part of the problem is that YouTube is a juggernaut.

In 2006, Shane Felux was on a makeshift set near his home in northern Virginia producing a Web video when he received an out-of-the-blue phone call from Barry Jossen, who was then executive vice president of production for Disney's ABC Studios.

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

Pair bet on the future of independent films

Two industry veterans, undeterred by the deep downturn, launch DF Indie Studios with a goal of making and distributing 10 to 12 small-budget movies a year.

It hardly seems like the ideal time to launch an independent movie studio. If the kings of the business, Bob and Harvey Weinstein, are struggling, can anyone make it?

Source: L.A. Times - Business | 15 Jun 2009 | 7:00 am

Shares and stock tips: buy Debenhams sell Carphone Warehouse

Stockbrokers 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 | 15 Jun 2009 | 6:55 am

Dollar is in 'good shape' says Russia's finance minister Alexei Kudrin

The dollar found support on Monday in foreignexchange markets as Russia gave a public vote of confidence in the US currency.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 6:44 am

TomTom cash call to cut down debt

TomTom the Dutch navigation device maker said it planned to raise €430m £366m via a combination of a placing and a rights issue to pay down debt.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 6:35 am

NZ stocks: Larger stocks lift mixed market

A mixed share market edged up slightly today, with trading in the larger stocks lifting the market to close up half a per cent. "In the top 50, as many went up as went down, with trading in the larger stocks keeping [the market's]...
Source: New Zealand Herald - Business | 15 Jun 2009 | 6:23 am

Goodrich signs deals with Airbus, British Airways

(Reuters) - Aircraft components maker Goodrich Corp said on Monday it signed service agreements with EADS unit Airbus, British Airways and Scandinavian Airlines System .

Source: Reuters: Business News | 15 Jun 2009 | 5:56 am

Currency: Kiwi down on US after G8 meeting

The New Zealand dollar closed slightly down against the greenback today, following statements by Russian and Japanese finance ministers supporting the US dollar at the G8 conference in Lecce in southern Italy on Friday. Westpac...
Source: New Zealand Herald - Business | 15 Jun 2009 | 5:46 am

Bally reaches deal with lenders to exit Chapter 11

(Reuters) - U.S. health-club operator Bally Total Fitness Holding Corp has reached a deal with its lenders on a restructuring plan to help it exit from bankruptcy.

Source: Reuters: Business News | 15 Jun 2009 | 5:34 am

Video: Richard Lambert says effects of credit crunch are over

In an exclusive interview with Telegraph TV the DirectorGeneral of the CBI reveals that while the economic crisis has stablised credit remains hard to obtain.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Jun 2009 | 5:01 am

Queens Wharf ready for major makeover after Govt buy-out

The Government has struck a deal to buy Auckland's Queens Wharf, meaning a massive redevelopment of the wharf for the 2011 Rugby World Cup will proceed. John Key made the announcement today after reaching agreement with its current...
Source: New Zealand Herald - Business | 15 Jun 2009 | 3:34 am

Novartis rejects call for vaccine donations

The head of one of the world's largest pharmaceutical companies has ruled out donations of vaccines to protect the poor against the latest flu pandemic, saying that developing countries or donor nations should cover the costs
Source: Financial Times - US homepage | 15 Jun 2009 | 2:41 am

Airline to increase A380 services

Qantas announced today it will increase its A380 services from Australia to both London and Los Angeles from 6 August. Group Executive, Commercial, Rob Gurney said the airline would take delivery of three new aircraft before the...
Source: New Zealand Herald - Business | 15 Jun 2009 | 2:30 am

Fed faces key policy decisions

The sharp increase in both US bond yields and mortgage rates presents the Federal Reserve with two key decisions next week: whether to increase its purchases of Treasuries and whether to push back against expectations of early interest rate rises
Source: Financial Times - US homepage | 15 Jun 2009 | 2:00 am

Profits still falling, say banks

Bank profits have fallen during the recession, BNZ chief executive Andrew Thorburn says, despite politicians arguing interest rate cuts have not been passed on to New Zealand customers. Reserve Bank Governor Alan Bollard announced...
Source: New Zealand Herald - Business | 15 Jun 2009 | 2:00 am

UK economy stable but growth 'a while off yet'

Britain's economy is finally stabilising, but the recovery will not properly begin until the beginning of next year, Britain's biggest employers' group warned today. While other forecasters, including the National Institute of...
Source: New Zealand Herald - Business | 15 Jun 2009 | 1:30 am

Cut-price film-maker rolls out in Hollywood

A new, privately owned Hollywood studio launches on Monday with its founders promising to shake up the industry by focusing on cheaper films that cost no more than $10m to produce.Unlike most of its larger...
Source: RSS feed - channel BNPaperBusiness | 15 Jun 2009 | 1:19 am

Cut-price film-maker rolls out in Hollywood

DF Indie Studios is to focus on cheaper films costing no more than $10m to produce and has created its own US distribution network
Source: Financial Times - US homepage | 15 Jun 2009 | 1:19 am

Without signs of economic growth, stocks to drift (AP)

AP - The summer slowdown is setting in on Wall Street.

Source: Yahoo! News: Stock Markets News | 15 Jun 2009 | 1:06 am

Manufacturing sales up for first time in 15 months

Manufacturing sales volumes squeaked higher in the March quarter, the first rise in 15 months. Total seasonally adjusted sales volumes for the March quarter were up 0.2 per cent from the previous three months, Statistics New Zealand...
Source: New Zealand Herald - Business | 15 Jun 2009 | 12:30 am

Furious big investors turn their guns on Anglo American chief

Cynthia Carroll, the chief executive of Anglo American, has lost the confidence of leading shareholders who want her to consider merging the London-listed mining giant with its rival Xstrata.

Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

With American zeal and Teutonic precision, Siemens sets out stall for the future

There are not very many laughs at Siemens these days. Europe’s oldest and most highly regarded engineer finds itself battered by a vicious recession just as it recovers from a sharp judicial spanking for bribery and corruption. Even so, Peter Löscher, its chief executive, had to struggle to prevent his face from breaking into a grin.

Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

Rising oil prices will buy off democracy

Dictatorships, as well as democracies, depend on money, although North Korea and Zimbabwe would like to prove the contrary. Dictators have their own constituencies and their constituencies have their own costs.
Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

Winkworth seeks AIM flotation to fund expansion

Winkworth, the London-based estate agency, is defying the worst housing market since the Second World War to launch a flotation on the Alternative Investment Market that can, in turn, fund an expansion across Britain and into India and the Far East.
Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

Eyes down as Gala Coral mulls bingo hall closures

Britain's biggest bingo club operator has decided that the numbers no longer add up for several of its least profitable clubs, after a tax increase that could spell closure for at least another 100 bingo halls across the industry.
Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

Less Is More

There is an episode of The Goon Show in which the characters are debating whether a house in the desert is real or a mirage. Suddenly it disappears, proving itself to have been a mirage all along. A scream is heard, then a thud. It is Eccles. “I was upstairs,” he explains.
Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

Tesco to build Chinese shopping centre

Tesco, Britain's biggest supermarket chain, is building its first shopping centre as part of its expansion into China. The company, which has 64 stores in China, is building a development in Fushun, an industrial city of one million in the northeast of the country, which is expected to be a trailblazer for future developments.
Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

India's incredible journey from holiday backwater to the destination du jour

As a sales pitch for a holiday paradise, you would think it left much to be desired. “We have hoardings obscuring heritage sites, we have terrible roads, we have sewage and solid waste problems. And we have some of the lousiest airports in the world.”
Source: Latest Business News from Times Online | 15 Jun 2009 | 12:00 am

SkyCity chasing the world's high-rollers

One of Ejaaz Dean's roles as executive manager for table games for SkyCity Entertainment is attracting big-spending international clients to casinos here and in Australia . But the 24-year industry veteran says the company would...
Source: New Zealand Herald - Business | 15 Jun 2009 | 12:00 am

M Stanley and Citi venture keeps brokers waiting

Morgan Stanley and Citigroup will have to wait up to two years to gain the full benefit of their $14bn-a-year brokerage joint venture as the complexity of merging information technology systems delays integration
Source: Financial Times - US homepage | 14 Jun 2009 | 11:43 pm

Service sector keeps shrinking, but contraction slows in May

The services sector continued to decline for a 14th consecutive month in May, but more slowly than in April. The performance of services index (PSI), produced by BNZ Capital and Business NZ, rose 2.5 points from April to be at...
Source: New Zealand Herald - Business | 14 Jun 2009 | 11:30 pm

Netanyahu bows on Palestinian state

Benjamin Netanyahu, Israel's prime minister, gave conditional backing to the goal of creating an independent Palestinian state, bowing to months of intense US pressure.
Source: Financial Times - US homepage | 14 Jun 2009 | 11:19 pm

BP close to choosing chairman

Paul Anderson, the former chief executive of BHP Billiton, has been added to the shortlist of names to succeed Peter Sutherland as chairman of BP
Source: Financial Times - US homepage | 14 Jun 2009 | 10:51 pm

US broker in landmark Baghdad move

Auerbach Grayson, a New York-based brokerage, becomes the first international company to sell Iraqi securities since the 2003 invasion
Source: Financial Times - US homepage | 14 Jun 2009 | 10:35 pm

Opposition grows to Ping An's TPG deal

TPG's plans to sell its controlling stake in a Chinese bank to Ping An Insurance faces opposition in China as the deal was not first cleared with all the regulatory bodies involved
Source: Financial Times - US homepage | 14 Jun 2009 | 10:30 pm

BRIC seeks global voice at first summit (Reuters)

Reuters - The leaders of the world's biggest emerging markets -- Brazil, Russia, India and China -- meet in the coming week for their first formal summit, seeking a louder voice on the global stage.

Source: Yahoo! News: Business | 14 Jun 2009 | 9:53 pm

Test awaits Obama this week on financial reforms (Reuters)

Reuters - The Obama administration on Wednesday will unveil its long-awaited plan to tighten U.S. financial regulation, marking a test of its resolve to seize political opportunity and face down powerful interests.
Source: Yahoo! News: Business | 14 Jun 2009 | 7:50 pm

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