|
|
|
|
Russia ready for deep nuclear arms cutsRussia is ready to dramatically cut its nuclear stockpiles in a new arms pact with the United States if Washington meets Russia's concerns over missile defence, President Dmitry Medvedev saidSource: Financial Times - US homepage | 20 Jun 2009 | 12:14 pm Is the recession over?The recession began in December 2007. Did it end sometime this spring?Source: Business and financial news - CNNMoney.com | 20 Jun 2009 | 12:11 pm The health care fear factorSource: Business and financial news - CNNMoney.com | 20 Jun 2009 | 12:08 pm Telecoms firm Nortel to sell assets to NokiaCanadian telecommunications firm Nortel, in bankruptcy protection since January, will sell most of its wireless business to Nokia Siemens Networks for 650 million dollars. Nortel also...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 12:08 pm Health care bill is 852 pages. What's in it?There's a lot of talking going on about health care reform and urgent warnings of what will happen if it doesn't pass. But for all the talk, there's very little clarity for the public about what kind of reform has a serious chance of passing and how lawmakers intend to pay for it.Source: Business and financial news - CNNMoney.com | 20 Jun 2009 | 12:07 pm GM creditors: Don't expect a check in the mailGeneral Motors owes hundreds of millions of dollars to major suppliers who have never made an auto part, rubber tire or sheet of steel -- and they're not likely to get paid anytime soon.Source: Business and financial news - CNNMoney.com | 20 Jun 2009 | 12:07 pm Stanford indicted in massive U.S. fraud caseRICHMOND, Virginia (Reuters) - Texas billionaire Allen Stanford, three associates and a top Caribbean regulator were indicted on fraud, conspiracy and obstruction charges in an elaborate $7 billion pyramid scheme to bilk investors, U.S. Justice Department officials said on Friday.Source: Reuters: Business News | 20 Jun 2009 | 12:05 pm Personal Finance Daily: The week's 10 best Personal Finance storiesIn case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of June 15-19:
Source: MarketWatch.com - Top Stories | 20 Jun 2009 | 12:01 pm Investors bet on Detroit housing marketSource: Business and financial news - CNNMoney.com | 20 Jun 2009 | 12:00 pm Bonds finish up ahead of big weekTreasury prices rebounded Friday ahead of a week full of auctions, government purchase operations, and the Federal Reserve's two day meeting.Source: Business and financial news - CNNMoney.com | 20 Jun 2009 | 11:56 am Scenes from the iPhone launchSource: Business and financial news - CNNMoney.com | 20 Jun 2009 | 11:34 am Inside Steve Jobs' liver transplantSource: Business and financial news - CNNMoney.com | 20 Jun 2009 | 11:33 am Auto Review: 2009 Audi Q5: Luxury crossover with a dash of funAudi’s offering in the crossover sweepstakes is the Q5, a vehicle based on the A4 sedan but one that takes the genre and moves it into the luxury class.
Source: MarketWatch.com - Top Stories | 20 Jun 2009 | 10:01 am Apple’s (AAPL) Steve Jobs Had A Liver TransplantAccording to The Wall Street Journal, Apple (AAPL) CEO Steve Jobs had a liver transplant two months ago and will not be able to return to work full-time for another month or so. While it is not clear what Mr. Jobs medical future will be. Apple has run well without him and has released several new [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 20 Jun 2009 | 9:42 am Poland's PBG buys Ukraine construction firm for $12 mlnWARSAW, June 20 (Reuters) - Polish builder PBG has gained control of Ukrainian construction group Energopol-Ukraina for 40 million zlotys ($12.3 million), PBG said in a statement late on Friday.Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 9:40 am Nokia Siemens buys Nortel in $650 million dealNokia Siemens Networks said Saturday it will buy Canadian-based Nortel Networks in a $650 million (euro465 million) deal. "Nokia Siemens Networks has taken a significant step towards...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 9:10 am Iran opposition warned against ralliesIran's interior minister issued a direct warning to Iran's opposition leader that he would be held responsible for backing street demonstrations, a day after the supreme leader left no doubt in a stern speech that protests would not be toleratedSource: Financial Times - US homepage | 20 Jun 2009 | 9:02 am Investors to win back by millions of pounds in lost taxFidelity is among many fund managers hoping to win back millions of pounds for investors in funds that invest in companies based in the EU.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 20 Jun 2009 | 7:11 am H1N1 flu has Beijing taking a hard line on safety precautionsThe country is still stung by the memory of the SARS virus outbreak, which wreaked havoc on the population and business environment in 2003.Chinese authorities tracked down Westwood resident Mike Su recently at a networking banquet in Beijing. They forced him to pack his bags, then whisked him away to a budget hotel on the edge of the city where they detained him for a week.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am California unemployment rises to record 11.5% in MayMen lose jobs more than women. Only four states have higher unemployment rates than California. The national jobless rate is 9.4%.California's unemployment rate in May hit 11.5% -- its highest level in more than three decades -- but the pain of losing work isn't being shared equally between the sexes.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am Former State Fund official served search warrant in criminal probeAs many as eight other warrants are served in the conflict-of-interest probe, according to a state official, who says recipients are likely to have included other former officials at the insurer.A 2-year-old criminal investigation into possible conflicts of interest and misuse of government property at the state-run company that is California's largest workers' compensation insurer moved into high gear Friday.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am Paramount shakes up managementThe studio ousts John Lesher and Brad Weston, its two top production executives, and puts Adam Goodman in charge of production.Paramount Pictures, shaking up its management ranks, ousted its two top production executives Friday, signaling unhappiness with the pace of development and performance of movies developed under their watch, including the current Eddie Murphy bomb "Imagine That."
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am A county fair may be just the ticketFairs dangle low prices, expecting Southern Californians to line up for close-to-home fun.Minutes after the gates to the San Diego County Fair swung open last weekend, Rick Smith ran toward the carnival rides, trying to keep up with his two sons, 7 and 10.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am Two more Bank of America directors resign from boardTECHNOLOGY
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am Should bonds still get the love?Wall Street's rally since mid-March has been strong enough to persuade many Americans to stop selling their stock mutual funds and start buying again.Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Los Angeles slaps several tech firms with higher taxesThe cash-strapped city is telling them they don't qualify for a lower tax rate adopted 12 years ago to attract Internet and multimedia companies.Twelve years after Los Angeles adopted a lower tax rate to attract Internet and multimedia companies, the cash-strapped city is telling many tech businesses that they don't qualify for the discount and billing them millions of dollars in additional taxes.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am Paramount shakes up managementThe studio ousts John Lesher and Brad Weston, its two top production executives, and puts Adam Goodman in charge of production. ...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Two more Bank of America directors resign from boardTECHNOLOGYSource: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Nestle recalls Toll House cookie dough productsThey may be contaminated with E. coli. Since March, at least 66 people in 28 states have gotten sick after eating the dough. The outbreak is called evidence of the need for stronger regulation. ...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Fares drop as demand for premium airline seats plungesFliers who still can sit in the front of the cabin are finding great deals as carriers discount business- and first-class tickets more than 20%. ...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Nestle recalls Toll House cookie dough productsThey may be contaminated with E. coli. Since March, at least 66 people in 28 states have gotten sick after eating the dough. The outbreak is called evidence of the need for stronger regulation.There's a toll to eating raw cookie dough.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am Should bonds still get the love?Wall Street's rally since mid-March has been strong enough to persuade many Americans to stop selling their stock mutual funds and start buying again.
Source: L.A. Times - Business | 20 Jun 2009 | 7:00 am A county fair may be just the ticketFairs dangle low prices, expecting Southern Californians to line up for close-to-home fun. Minutes after the gates...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am IPhone fever drops a notch as 3G S debutsThe launch is relatively subdued, but lines still form for the latest version. To true believers, the iPhone is...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Former State Fund official served search warrant in criminal probeAs many as eight other warrants are served in the conflict-of-interest probe, according to a state official, who says recipients are likely to have included other former officials at the insurer. ...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am California unemployment rises to record 11.5% in MayMen lose jobs more than women. Only four states have higher unemployment rates than California. The national jobless rate is 9.4%. ...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Pomona squeezes 5 trade shows into 1 weekendIn a slumping economy, each show was threatening to scratch its Fairplex dates. But this weekend, RV, boat, home and garden, spa and pool and computer shows are a package deal for consumers. ...Source: RSS feed - channel BNPaperBusiness | 20 Jun 2009 | 7:00 am Nortel selling wireless unit to Nokia SiemensLOS ANGELES (Reuters) - Telecom equipment maker Nortel Networks said on Friday that it will sell its advanced wireless technology business to Nokia Siemens Networks for US$650 million and that it was making progress in talks to sell its other businesses.Source: Reuters: Business News | 20 Jun 2009 | 5:50 am UN Financial Summit attracts 14 world leadersThe president of the U.N. General Assembly postponed a financial summit aimed at giving the developing world a bigger voice in tackling the global economic crisis in hopes of attracting...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 5:48 am Prosecutors want delay in Madoff restitution decisionDisgraced Wall Street mogul Bernard Madoff will be sentenced as planned on June 29, but prosecutors have asked the judge to delay by 90 days a decision on restitution he is to pay to his...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 5:29 am UPDATE 3-Nortel selling wireless unit to Nokia Siemens* Expands Nokia Siemens presence in North America (Adds quotes from Wall Street Journal interview with CEO)Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 5:21 am Pay cuts, non-paid leave for SIA pilotsSingapore Airlines (SIA) said it has reached agreement with its pilots' union on pay cuts and non-paid leave as part of cost-cutting efforts to counter the effects of the global economic...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 4:54 am Market Snapshot: Rangebound stocks look to profits, housing for cueU.S. stock markets, struck with an early bout of the summer doldrums after three months of strong advances, could get a jumpstart from new earnings, housing and Federal Reserve data in the week ahead.
Source: MarketWatch.com - Top Stories | 20 Jun 2009 | 4:01 am Nortel selling wireless unit to Nokia SiemensLOS ANGELES (Reuters) - Telecom equipment maker Nortel Networks said on Friday that it will sell its advanced wireless technology business to Nokia Siemens Networks for US$650 million andSource: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 1:42 am US regulators close three more banksThe recent closures bring the number of bank failures to 40 and are expected to cost the FDIC's deposit insurance fund an estimated total of $363mSource: Financial Times - US homepage | 20 Jun 2009 | 1:17 am First Bancorp Acquires Cooperative BankTROY, N.C., June 19 /PRNewswire-FirstCall/ -- First Bancorp (Nasdaq: FBNC) announced today that First Bank, its banking subsidiary, has entered into a purchase and assumption...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 12:34 am Rally's fate hinges on Fed, home salesNEW YORK (Reuters) - Without further signs of life in the lackluster economy or hints from the Federal Reserve the outlook is improving, stocks' three-month rally may run into more...Source: RSS feed - channel BNewsBusiness | 20 Jun 2009 | 12:31 am Rally's fate hinges on Fed, home sales (Reuters)
Source: Yahoo! News: Business | 20 Jun 2009 | 12:31 am Rally's fate hinges on Fed, home salesNEW YORK (Reuters) - Without further signs of life in the lackluster economy or hints from the Federal Reserve the outlook is improving, stocks' three-month rally may run into more obstacles next week.Source: Reuters: Business News | 20 Jun 2009 | 12:31 am Rally's fate hinges on Fed, home sales (Reuters)
Source: Yahoo! News: Stock Markets News | 20 Jun 2009 | 12:31 am Former Fannie Mae head to take over bank bailout (AP)AP - Herbert Allison, the former head of troubled mortgage giant Fannie Mae, has been confirmed to oversee the government's $700 billion bank bailout program.Source: Yahoo! News: Business | 20 Jun 2009 | 12:19 am Admiral Prueher, General Franks leave BofA boardNEW YORK (Reuters) - Bank of America Corp said on Friday retired Army Gen. Tommy Franks and retired Navy Adm. Joseph Prueher have resigned from its board, meaning more than a third of its board has stepped aside since late April.Source: Reuters: Business News | 20 Jun 2009 | 12:18 am Nortel sale signals start of break-upNortel Networks, the Canadian telecoms equipment maker, has agreed to sell key assets to Nokia Siemens Networks for $650m.Source: Financial Times - US homepage | 20 Jun 2009 | 12:17 am Three banks fail, bringing annual tally to 40Banks in Georgia, North Carolina and Kansas are closed by regulators, bringing the total number of failures for the year to 40 as the financial and credit markets continue to claim victims.
Source: MarketWatch.com - Top Stories | 20 Jun 2009 | 12:11 am U.S. regulators close their 40th bank of the year (Reuters)Reuters - U.S. regulators closed three small banks on Friday, bringing the number of bank failures to 40 so far this year as the recession and delinquent loans erode the health of financial institutions.Source: Yahoo! News: Business | 20 Jun 2009 | 12:07 am U.S. regulators close their 40th bank of the yearWASHINGTON (Reuters) - U.S. regulators closed three small banks on Friday, bringing the number of bank failures to 40 so far this year as the recession and delinquent loans erode the health of financial institutions.Source: Reuters: Business News | 20 Jun 2009 | 12:07 am UBS legal case jeopardises Swiss-US treaty on secret bank accountsSwitzerland has signed a tentative agreement to share information with the United States about the billions of dollars that US citizens have stashed in secret Swiss bank accounts. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Mathewson makes £3m as Wood Mackenzie staff cash in on private equity buyoutSir George Mathewson, a former chairman of the Royal Bank of Scotland, was thought to have collected about £3 million yesterday when Wood Mackenzie, the British energy and research consultancy that he chairs, was sold for £553 million. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Blackout threat after protests over Lindsey oil refinery sackingsThe threat of disruption to Britain’s energy supply loomed last night after 2,000 power plant workers across the country walked out in wildcat strikes to protest about sackings at a Total refinery in Lincolnshire. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Chinese bail-out cash heads for Macau’s casinos rather than Guangdong factoriesA huge pool of liquidity, created in only four months by the Chinese banking industry in an all-out attempt to fight the global financial crisis, may be flowing towards the casinos of Macau, the gambling capital of Asia. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Kesa and DSG hope for electricals surge after ‘stunning’ John Lewis figuresEmbattled electricals retailers received a boost yesterday when John Lewis, Britain’s biggest department store group, reported a “stunning” rise in sales of white goods. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Setanta set for administration after Blavatnik pulls £20m rescue dealSetanta is expected to fall into the hands of administrators after being stripped of its right to broadcast Premier League football matches next season and after its supposed Russian white knight pulled the rug from under a multimillion-pound investment. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Taylor Wimpey looks on the bright side as it says prices have found a floorTaylor Wimpey cast a rare ray of sunshine on the embattled housebuilding industry yesterday after the group all but called the bottom of the market. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Tesco Town resists the ravages of recession in its Highlands fortressMark Townsend had a smile on his face. The general manager of Tesco in Inverness was busy last week planning for Rock Ness, the local music festival, confident of shifting 1,000 tents this year, not to mention sleeping bags, ice boxes, beer and other paraphernalia beloved by festival-goers. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am Mobile users in Africa to join weather serviceTwo of the world’s biggest telecommunications companies and the United Nations’ weather agency have joined forces in an attempt to improve weather forecasts in Africa. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am The race is on to create a new world of energyWe stand at the early dawn of a new energy future. It will be powered by alternative energy and cleaner fossil fuels. If governments adopt the right rules and incentives, by the middle of this century renewable sources will provide nearly 30 per cent of the world’s energy. Society will be on the road toward sustainable mobility. The world’s highways will rumble and whir with vehicles powered by all manner of energy: petrol, diesel (yes, still there), electricity, biofuels, natural gas and hydrogen. Source: Latest Business News from Times Online | 20 Jun 2009 | 12:00 am 40 banks failures in 2009Regional banks in North Carolina, Kansas and Georgia were closed by state regulators Friday, bringing the total number of failed banks this year to 40, the Federal Deposit Insurance Corporation said.Source: Business and financial news - CNNMoney.com | 19 Jun 2009 | 11:55 pm Hear: Crisis, Regulate, RepeatOn today's Planet Money: We look back on the last century of banking regulation. -- Chana Joffe-Walt leads a tour of Presidential responses to banking crises since 1907. Highlights of the trip include regulation posturing from Woodrow Wilson, FDR, George Bush and Bill Clinton, plus Alex Blumberg singing along with Lady Gaga. -- Is regulation a necessity or an opiate of the market? Harvard Business School professor David Moss argues that those massive institutions that pose a systemic risk must be regulated. George Selgin, an economist at the University of Georgia, worries that the wrong kind of regulation can lead to even greater disaster. Bonus: Comment of the week, after the jump. Download the podcast; or subscribe. Intro music: The Cure's "Close to Me." Find us: Twitter/ Facebook/ Flickr. A lot of you took exception to Monday's podcast, "The Trouble With Tariffs." We asked you to imagine that America slapped a tariff on toothbrushes from China so they cost the same as ones from a factory in Ohio. Then everyone pays more. Maybe the global market is saying that Ohio shouldn't be making tootbrushes, that the best place for that is China.
Whew. Alan Kleiman speaks for the masses on this one:
The conceit that economists actually know what's best seems fairly ridiculous, given current circumstances. I mean, take the tariff example: why is the Ohio tootbrush factory much more expensive than the Chinese one? Is the Chinese one using what is effectively slave labor while the Ohio one allows for borderline decent lifestyles? Are they respecting environmental regulations? Is the cheapest-possible toothbrush really in the consumer's best interest in this case? It's what you get when modern economic theory seems to focus on serving as mouthpieces for corporations -- like we need more of that. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 11:37 pm Latin American Markets: Mexican stocks turn lower; bank cuts key rateMexican stocks lose grip on earlier gains that had followed an interest-rate cut by the country’s central bank, which also signaled it could ease off future rate cuts.
Source: MarketWatch.com - Top Stories | 19 Jun 2009 | 11:25 pm Nortel accepts Nokia Siemens bid on assets -- WSJTelecommunications equipment company Nortel Networks Corp. reportedly has accepted a $650 million bid for the most lucrative part of its carrier networks division from Nokia Siemens Networks.
Source: MarketWatch.com - Top Stories | 19 Jun 2009 | 11:23 pm Regulation Is Like Clothes. You Can't Always Wear The Same Ones.Today on the podcast we're going to take a little history trip of US financial regulation. Stops include crisis, despair, regulation, stability, crisis, despair (normally in that order). Along the search I stumbled upon a video of the 1999 bill signing for the Gramm-Leach-Bliley Financial Services Modernization Act . This was the bill that allowed financial institutions to combine commercial and investment banking. It's pretty startling to compare the rhetoric here to now. Video of the signing from C-SPAN, after the jump.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 11:22 pm Stanford faces criminal chargesFederal prosecutors have filed criminal charges accusing Sir Allen Stanford, the Texan billionaire, senior executives of his company and a Caribbean regulator with taking part in a $7bn Ponzi schemeSource: Financial Times - US homepage | 19 Jun 2009 | 11:20 pm After Hours: Sirius shares jump, E-Trade's up in late tradesSirius XM Radio surges in the evening while E-Trade tops volume leaders following day-session declines.
Source: MarketWatch.com - Top Stories | 19 Jun 2009 | 11:11 pm U.S. states seek to join feds in AIG bonus probeNEW YORK (Reuters) - U.S. states probing employee bonuses paid by American International Group Inc using taxpayer money plan to join federal investigators in the matter, while leaving open the possibility of pursuing the case themselves.Source: Reuters: Business News | 19 Jun 2009 | 11:05 pm The Dow Jones industrials' moves since Lehman fall (AP)AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility before kicking into a big rally this spring. The numbers are the closing levels for the Dow:Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 11:04 pm China tells Google to end foreign site accessBeijing has ordered Google to stop local users of its Chinese-language service accessing overseas websites – the biggest blow to the world's leading search engine in China since it began operating thereSource: Financial Times - US homepage | 19 Jun 2009 | 11:02 pm Admiral Prueher, General Franks leave BofA board (Reuters)
Source: Yahoo! News: Business | 19 Jun 2009 | 10:59 pm Banga leaves Citi for MasterCardAjay Banga, the head of Citigroup's Asia-Pacific operations, is leaving the beleaguered global bank to take the number-two job at Mastercard.Source: Financial Times - US homepage | 19 Jun 2009 | 10:59 pm Stocks to Watch: Stocks to watch for MondayAmong the companies whose shares are expected to see active trade in Monday's session are Walgreen Co., Citigroup Inc., and MasterCard Inc.
Source: MarketWatch.com - Top Stories | 19 Jun 2009 | 10:51 pm Taxing Times: Are higher taxes the lesser of two evils?It's a sad fact that recessions can bring pocketbook hits not only in the form of job losses or salary cuts -- but also tax hikes.
Source: MarketWatch.com - Top Stories | 19 Jun 2009 | 10:49 pm Stocks log first weekly loss since early May (AP)
Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 10:47 pm Stocks struggle at end of down weekThe Nasdaq surged Friday and the broader market struggled at the end of the first down week in a month for Wall Street.Source: Business and financial news - CNNMoney.com | 19 Jun 2009 | 10:29 pm CarMax 1Q earns fall, still tops view (AP)
Source: Yahoo! News: Business | 19 Jun 2009 | 10:26 pm Write-Offs: 06.19.09$$$ Law firm Wachtell weighs in on possible short selling rules in letter to the SEC. "Selling a stock short in combination with the purchase of such a swap -- tied to a company's ability to pay its debt -- can send a false signal into the marketplace," the letter said. And as everyone knows, market prices are always accurate, right? Oh, yeah.... [Law360] $$$ JPMorgan expects $1.1 billion Q2 charge after TARP [Reuters] $$$ Marc Dreier's Homes Underperform on the Block [Curbed] $$$ Bank of America done with Merrill' bull [The Deal] 
Sponsored Topics: Troubled Asset Relief Program - Bank of America - JPMorgan Chase - Business - U.S. Securities and Exchange Commission Source: Dealbreaker | 19 Jun 2009 | 10:25 pm Bill revives health reform hope in USAdvocates of healthcare reform drew fresh hope from a new Democratic bill on Capitol Hill at the end of a week in which Barack Obama's plans suffered heavy dilution because of growing concern over rising budget deficitsSource: Financial Times - US homepage | 19 Jun 2009 | 10:23 pm How the major stock indexes fared on Friday (AP)AP - Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 10:21 pm Small group of GM bondholders object to saleNEW YORK (Reuters) - A small group of General Motors Corp bondholders formally objected on Friday to the automaker's plans for a speedy sale of its assets in bankruptcy court, according to court documents.Source: Reuters: Business News | 19 Jun 2009 | 10:20 pm Big fine could be big trouble in downloading caseMINNEAPOLIS -- The $1.92 million verdict against a Minnesota woman accused of sharing 24 songs over the Internet could ratchet up the pressure on other defendants to settle with the recording industry -- if the big fine can withstand an appeal.
Source: L.A. Times - Business | 19 Jun 2009 | 10:13 pm Yahoo sees up to $27 million charges for job cutsSAN FRANCISCO (Reuters) - Yahoo Inc said it will incur $22 million to $27 million in restructuring charges in the current quarter to account for previously announced layoffs of 5 percent of its staff.Source: Reuters: Business News | 19 Jun 2009 | 10:05 pm Presented By:Source: Dealbreaker | 19 Jun 2009 | 10:04 pm Has Vikram Pandit Put On Some Pounds?Felix Salmon thinks so, devoting a post to the supposed weight gain today, in which he draws particular attention to the neck area. Our thoughts on this: 1. Uncalled for. 2. Not even taking into account that the supposed evidence of fat is taken from a most unflattering angle, the fact of the matter is that Pandito has drastically slimmed down since taking over at Citi. So even if he's put on a few lbs over the last few months, he's still way under his starting weight. Practically gaunt, in comparison.
Sponsored Topics: Vikram Pandit - Citibank - Felix Salmon - Health - Programs Source: Dealbreaker | 19 Jun 2009 | 10:04 pm EU 'risks lagging US on regulation'Europe risks falling behind the US in policing the financial system and the current crisis could prove 'a wasted opportunity' to ensure its future stability, a top European Central Bank policymaker has warnedSource: Financial Times - US homepage | 19 Jun 2009 | 9:59 pm Top Ten: MarketWatch's top stories of the week, June 15-19U.S. stocks had a rough week. Economic data were the culprit, mostly. President Obama’s plan to reform the financial system also caused some hiccupping in the market.
Source: MarketWatch.com - Top Stories | 19 Jun 2009 | 9:57 pm SEC spotlight puts "dark pool" venues on defensive (Reuters)Reuters - The operators of anonymous stock trading venues called 'dark pools' defended their existence on Friday, but conceded they could be more transparent after the U.S. Securities and Exchange Commission warned they posed "emerging risks."Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 9:52 pm Stanford indicted in massive U.S. fraud case (Reuters)
Source: Yahoo! News: Business | 19 Jun 2009 | 9:45 pm Mad Max Is Back At It
As a reminder, this is where the legislation is coming from. US bill would outlaw vulture funds [Guardian.co.uk]
Sponsored Topics: Goldman Sachs - Maxine Waters - Business - Investing - Funds Source: Dealbreaker | 19 Jun 2009 | 9:40 pm JPMorgan expects $1.1 billion Q2 charge after TARPNEW YORK (Reuters) - JPMorgan Chase & Co said it expects to record a $1.1 billion charge in its second-quarter results after returning $25 billion in taxpayer funds to the U.S. government.Source: Reuters: Business News | 19 Jun 2009 | 9:33 pm House panel subpoenas Fed over BofA/Merrill mergerNEW YORK (Reuters) - A congressional committee said on Friday it has served the Federal Reserve with a second subpoena for documents related to Bank of America Corp's purchase of Merrill Lynch & Co.Source: Reuters: Business News | 19 Jun 2009 | 9:20 pm House panel subpoenas Fed over BofA/Merrill merger (Reuters)
Source: Yahoo! News: Business | 19 Jun 2009 | 9:20 pm Allen Stanford's Lawyers Think Throwing Client In Jail Would Be A Totally Excessive And Unwarranted MoveRe: jail or bail for Allen Stanford, the accused Ponzier's lawyers argue that detention would be "a punitive measure" and that the government is grandstanding, which, considering the source, is rich and awesome. Prosecutors are pegging the ultimate sentence at 375 years.
Sponsored Topics: Allen Stanford - Business - Lawyer - United States - Bail Source: Dealbreaker | 19 Jun 2009 | 8:54 pm S&P, Nasdaq gain on Microsoft; stocks slip for week (Reuters)
Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 8:51 pm Stanford charged with fraud in USTexan billionaire Sir Allen Stanford is charged over a $7bn scheme to defraud investors, the US justice department says.Source: BBC News | Business | World Edition | 19 Jun 2009 | 8:45 pm Lord Turner flags tighter capital rulesBanks that are "too big to fail" may need stricter capital requirements than smaller financial institutions which pose less of threat to the financial system if they collapse according to the head of Britain's financial regulator.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 8:41 pm Moody's could downgrade CaliforniaRatings agency Moody's Investors Service has warned it may cut the State of California's credit rating if governor Arnold Schwarzenegger cannot find a way of plugging its 20bn £12bn budget deficit.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 8:36 pm Wall Street posts losing weekUS stocks were mixed but posted a losing week for only the third time since the lows of March as economic data and earnings reports suggested hopes that the recession will soon be over are prematureSource: Financial Times - US homepage | 19 Jun 2009 | 8:33 pm Car industry shows signs of recoveryBritain's car industry showed the first signs of recovery last month despite another drop in production.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 8:31 pm Binatone launches the 'Binaphone'Binatone the budget consumer electronics maker is launching a new range of gadgets including a £29 "throwaway phone" as part of a move to build up its profile before flotation.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 8:22 pm Senate confirms Allison as TARP chief (Reuters)Reuters - The U.S. Senate on Friday confirmed Herb Allison, the former chief executive of mortgage finance company Fannie Mae, as assistant Treasury secretary to oversee the government's $700 billion bank bailout fund.Source: Yahoo! News: Business | 19 Jun 2009 | 8:11 pm UK wins concessions on EU rulesLeaders of Britain's financial community gave a cautious welcome to a planned overhaul of regulation across Europe after the UK appeared to win key concessions.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 8:10 pm Over 2000 down tools for sacked Total strikersThousands of energy workers have joined walkouts in support of 650 contract employees sacked after staging strikes at a Total oil refinery.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 7:51 pm Paul Tudor Jones Gets Ridiculously Real With Ninth Graders
Instead, he told a room of 14 year old boys and their parents about the time he got left at the altar. Like, for serious. He also talked about what he learned by not being able to rescue a group of underprivileged children from Bed-Stuy from turning into a statistic. At various points he says things like "Failure will give you a tattoo that will stay with you your whole life" and "Shame can be a lifetime companion for which you better prepare yourself." The whole thing is summed up thusly: "Here is the point: you are going to meet the dragon of failure in your life." So: kind of dark. Nevertheless, actually a very good read with some quite moving parts (and Civil War references), though not necessarily the way we wanted to kick off the weekend. We also get the sense that a certain someone, the same someone who on page 10 notes, "By now you are thinking, how much longer is this loser going to keep talking," needs a hug. PTJ, you know where to find us.
Sponsored Topics: Paul Tudor Jones - PTJ - Commencement speech - Buckley - Speech Technology Source: Dealbreaker | 19 Jun 2009 | 7:50 pm Merlinesque figures are beginning to work their powers on recoveryShareholders have written cheques worth about £40bn this year made out to a variety of UK companies seeking to raise capital.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 7:40 pm Boss To OTS Staff: Um, Keep Up The Good WorkWhen the President announces that he wants to shut down your regulator agency, what do you say to your staff? That was the dilemma facing the boss at the beleaguered Office of Thrift Supervision this week. The OTS regulates savings and loans. It's the agency that supervised Washington Mutual, A.I.G. and IndyMac. On Wednesday the staff received this email from the OTS Acting Director: From: Bowman, John E Sent: Wednesday, June 17, 2009 2:30 PM To: #WASH_USERS; #REGION_USERS Subject: White House Meetings Scott Polakoff took a different approach. He was OTS Acting Director until he was placed on leave in March. Today, two days after President Obama announced his intention to scrap the OTS, Polakoff sent out this: From: Polakoff, Scott M Sent: Friday, June 19, 2009 6:32 AM To: #WASH_USERS; #REGION_USERS; Al Clark; Andre Galeano; Bert Ely; Bill Isaac; Bob Friedman; Cam Fine; Chris Spoth; Curt Hage; Diane Casey; Don Gignac; Don Musso; Doug Faucette; Doug Roeder; Erica Bovenzi; Gene Ludwig; George Miller; Grace Bauer; Jaret Seiberg; Jay Sidhu; Jerry Hawke; Jim Sexton; John Reich; Ken Slosser; Marshall Haines; Mike Mach; Mitchell Glassman; Nick Ketcha; Oliver Sarkozy; Rae Ann Miller; Rich Spillenkothen; Rodgen Cohen; Sandra Thompson; Suzannah Susser; Tim Long; Tom Michaud; Val Janoso » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 19 Jun 2009 | 7:39 pm Sir Allen Stanford held in custody prior to bail hearingTexan billionaire Sir Allen Stanford could spend the rest of his life in prison if found guilty of conspiring to defraud investors of 7bn £4.3bn on his "personal playground" of Antigua.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 7:35 pm Ambac Spared The Embarrassment Of Wrapping Munis
Ambac Delays Launch of Muni Unit [WSJ]
Sponsored Topics: California - Wall Street Journal - Unemployment - Business - Bond insurance Source: Dealbreaker | 19 Jun 2009 | 7:28 pm Sandwich firm in administrationDublin-based firm O'Briens Sandwich Bars goes into administration, but hopes most stores can remain open.Source: BBC News | Business | World Edition | 19 Jun 2009 | 7:25 pm A tribute to dads' money lessonsIn honor of financially savvy (and not so savvy) dads everywhere, writer Lauren Weber talks about the lessons she learned from her father. We also hear from listeners about what their dads taught them about money and finances.Source: Marketplace Money | 19 Jun 2009 | 7:17 pm Mandelson 'reassured' by US on GMBusiness Minister Lord Mandelson says the US government has given a "positive response" to his case for continued GM production in the UK.Source: BBC News | Business | World Edition | 19 Jun 2009 | 7:15 pm This Week’s LinksLoPucki’s bankruptcy charts illustrate each step of the three kinds of bankruptcy proceedings. The Simple Dollar is a well-written, entertaining personal finance blog. The Reformed Broker is another good blog that I ran across this week. CNN’s iReport has been a fascinating forum for citizen news coverage on the events in Iran this week. Seeking Alpha on what makes an economic recovery real.
Source: Business Pundit | 19 Jun 2009 | 7:10 pm "You Don't Look Foreign"
T. Boone Pickens discusses clean energy with Al Gore in February. Center for American Progress/flickr Oil billionaire and alternative-energy activist T. Boone Pickens was in Canada this week to extol the virtues of natural gas, and pushed for increased natural gas investment and cooperation between the U.S. and Canada: It's going to be good for America, it's going to be good for Canada, it's going to be good for the producers, it's going to be good for everybody. I can only see that the only loser in this deal is foreign oil. And I don't call you foreign. You don't look foreign. Natural gas prices have been in a bit of a funk lately, but this week, several companies paid for the right to explore the area around Horn River, British Columbia, Canada. There's no guarantee that they'll find natural gas reserves there, but it's thought that there's a huge amount of the stuff underneath the Canadian north. The companies have to be pretty confident that they're going to find some -- they just gambled $178 million on it. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 7:10 pm A Trillion SecondsIt turns out Senator Johnny Isakson stepped into a very well studied, but complicated area of scientific measurement when he attempted to explain a trillion dollars. Isakson tried to covert a trillion seconds into years, months and days. It turns out no one can tell you how many days in the future a trillion seconds would put you. And it's not even like, 'we're not sure it's a Thursday or a Tuesday'. We don't even know what month it would be. I called up Tom O'Brian, chief of the Time and Frequency Division at the National Institute of Standards and Technology (NIST) who works on super-precise atomic clocks. He says there are just too many uncertainties. Among other things tidal forces with the moon are slowing down the earth's rotation. (Many years from now, he says, the moon will sit fixed above one spot on earh.) You can listen to our conversation: Or download it here. O'Brian writes "no one can predict exactly where in space the earth will be in one trillion atomic seconds from now, so it is impossible to say exactly what will be the day, hour, minute and second reading on a clock based on a hybrid of earth orientation and atomic clocks one trillion atomic seconds from now. Using certain different timekeeping systems, it would be possible to give an exact answer." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 7:10 pm E*TRADE Valuation May Finally Be Compelling (ETFC, SCHW, AMTD, GS, MS)E*TRADE Financial Corp. (NASDAQ: ETFC) has been the worst of the online brokerage stocks as far as a stock. With some of the crazy mortgage products they offered, it is no wonder. And the stock has paid a price, over and over. It trades as though it is destined to stay a $1.00 stock for [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 7:08 pm Banks' support of 'viable' businesses in questionBanks say they are supporting 'viable' businesses but there is evidence to the contrarySource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 19 Jun 2009 | 6:56 pm That's one expensive BuffettHow much would you pay to have lunch with "The Oracle of Omaha," Warren Buffett? Tess Vigeland talks to Mohnish Pabrai, who two years ago was the highest bidder in the mogul's annual charity auction.Source: Marketplace Money | 19 Jun 2009 | 6:49 pm July 9 Is D-Day At House Of Nails And We Think Jim Cramer Should Have To Pay
Sponsored Topics: Jim Cramer - Washington Mutual - Lenny Dykstra - Foreclosure - Business Source: Dealbreaker | 19 Jun 2009 | 6:46 pm Foreclosure problems trickle to the topIt's no surprise that the housing crisis hit subprime borrowers or those who bit off more than they could chew. But now foreclosures seem to be making their way to prime borrowers -- those with good credit and a fixed rate. Mitchell Hartman reports.Source: Marketplace Money | 19 Jun 2009 | 6:35 pm Getting PersonalMarketplace Money host Tess Vigeland and economics editor Chris Farrell answer listeners personal finance questions about planning for retirement and refinancing with an uncooperative bank.Source: Marketplace Money | 19 Jun 2009 | 6:33 pm National parks offer free weekendsSeems like you can't get anything for free these days. But the National Park Service is offering no-cost admission to more than 100 parks on a few select weekends. Tess Vigeland talks to two park rangers about how they're preparing.Source: Marketplace Money | 19 Jun 2009 | 6:11 pm Finally Someone Who Doesn't Hate Hedge Funds
CIC Said to Invest $500 Million in Hedge Funds, Blackstone [Bloomberg]
Sponsored Topics: Hedge fund - China - Business - Blackstone Group - Investing Source: Dealbreaker | 19 Jun 2009 | 6:03 pm U.K. health service in jeopardyThe national health service is perhaps the U.K.'s most prized institution. But how is it faring during the economic crisis? Stephen Beard reports.Source: Marketplace Money | 19 Jun 2009 | 6:00 pm Straight StoryChanges to the U.S. health care system are on the horizon, but it's not the first time. Economics editor Chris Farrell talks about why this time it's different.Source: Marketplace Money | 19 Jun 2009 | 5:55 pm NYSE Euronext to buy 20 pct stake in Qatar bourse (AFP)
Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 5:53 pm Cheese and the CFPAThe new Consumer Financial Protection Agency might not seem to have a lot in common with cheddar and brie, but Marketplace Senior Editor Paddy Hirsch sees a connection.Source: Marketplace Money | 19 Jun 2009 | 5:49 pm First Major Rig Count Growth In Months (BHI, USO, OIL)Baker Hughes Incorporated (NYSE: BHI) has released its first rig count in weeks that show a spike up in a higher rig count. This follows a basing out after months and months of declining rig counts as many counts were down more than half from last year. It seems that $70.00 is letting the drillers [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 5:43 pm Just Putting It Out ThereCNBC will be airing an investigative documentary July 17 entitled, "Porn: The Business of Pleasure," hosted by Melissa Lee. According to producers, the show will be "an unprecedented behind-the-scenes look inside the multi-billion pornography business, from the threats to its profitability to exclusive behind-the-scenes interviews with the industry's biggest stars* to the one issue that could bring the adult industry to it's knees." Obviously, the question on all our minds: is this some sort of promotion for a series of low-budget pornos entitled "Bitches o' CNBC"? And if yes, what combinations of talking heads would you like to see featured and in what scenarios? Earlier: CNBC Slips Personal Porn Agenda Into Conversation *One of whom will be named the new host of Fast Money.
Sponsored Topics: Fast Money - CNBC - Pornography - Dylan Ratigan - Sex industry Source: Dealbreaker | 19 Jun 2009 | 5:42 pm New agency to protect consumer rightsPresident Obama is establishing the Consumer Financial Protection Agency, a watchdog group intended to keep an eye on deceptive financial practices. Tess Vigeland talks to Harvard professor Elizabeth Warren about her role in the agency's creation.Source: Marketplace Money | 19 Jun 2009 | 5:23 pm Inner Peace is Overrated
Don’t tell the Buddhist I’m interviewing for her keen business insights next week, but I’m not sure inner peace is right for everyone. Oh sure, you might go around smelling the flowers and noticing the unique chirp of this or that bright yellow bird in the backyard, but will you get anything done? In the book Overachievement, author John Eliot is offers a convincing argument that relaxing under pressure is the wrong way to go. He counsels would be superstars to forgo the deep breathing and give in to the glorious pressure, trusting it to propel you toward greater achievements than you can accomplish with diligent goal setting and plodding work.
This week I tend to believe him. This week I have virtually no responsibilities outside work. I also have no pressing deadlines. Nothing’s pressing, nothing’s important, and nothing’s exciting. Eliot says:
Well when he puts it that way, maybe the Buddhist would agree. What do you think? Is I-work–better-under-pressure a valid strategy, an ill-advised delusion, or just a hopeless cliche? Image Credit: Hape_gera, Flickr
Source: Business Pundit | 19 Jun 2009 | 5:13 pm Farewell To Silent Swiss BanksSwitzerland, known for its banks that can keep a secret, just agreed to increase the amount of tax information it shares with the United States. The Treasury Department says this will help them crack down on offshore tax evasion. Switzerland's banks manage about $2 trillion of foreign wealth, and much of that is untaxed by foreign nations. The Swiss government has been under pressure since March to relax its policies of bank secrecy, which are a big draw for foreign customers. Swiss banks have also been hit hard by the crisis, and are still at risk to do even worse. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 5:03 pm Many Cult Stock Changes In Russell 3000 Rebalance (CPST, BCON, FNSR, RICK, SIRI, TSCM, URRE, VG)The Russell 3000 Index is being rebalanced and many cult stocks with low share prices that have a wide following and high trading volume are getting booted off the index. Beacon Power Corporation (NASDAQ: BCON), Capstone Turbine Corp. (NASDAQ: CPST), Finisar Corp. (NASDAQ: FNSR), Rick’s Cabaret International Inc. (NASDAQ: RICK), SIRIUS XM Radio Inc.(NASDAQ: SIRI), [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 5:01 pm Greece to Britain: We want our marbles!The New Acropolis Museum is opening in Athens, Greece. But the marble structures it wants to showcase are stuck in England. Christopher Werth reports on the controversy over the so-called "Elgin Marbles."Source: Marketplace | 19 Jun 2009 | 4:58 pm Small talk: Roads, soup, ChristmasMarketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers Amy Scott, Bill Radke and Stacey Vanek-Smith about their favorite under-the-radar business stories this week: Gravel roads, soup for a penny, and Boston selling its Christmas village.Source: Marketplace | 19 Jun 2009 | 4:57 pm 'Cash For Clunkers' losers and winnersThe Senate has passed a bill that'll give vouchers to car buyers who trade in their gas-guzzling clunkers for more fuel-efficient vehicles. Mitchell Hartman reports on who benefits and loses from the "Cash For Clunkers" program.Source: Marketplace | 19 Jun 2009 | 4:57 pm Weekly Wrap: RegulationFreelance financial writer Heidi Moore and The Atlantic's Megan McCardle talk with Kai Ryssdal about the Obama administration's proposed regulations and whether they will be enough to fix the financial system.Source: Marketplace | 19 Jun 2009 | 4:57 pm It's the summer of the smartphonePeople have been lining up outside Apple Stores to get the new iPhone that just went on sale. While the iPhone is by far the leader in its class, other smartphones are ringing up big sales numbers as well. Stacey Vanek-Smith reports.Source: Marketplace | 19 Jun 2009 | 4:57 pm When to start economic 'exit strategy'The term 'exit strategy' is being bandied about as more forecasters contemplate a better economy. But when that exit should happen is the critical question. John Dimsdale reports.Source: Marketplace | 19 Jun 2009 | 4:57 pm What are 'dark pools?'Securities and Exchange Commission Chairwoman Mary Schapiro wants to crack down on so-called "dark pools." Never heard of them? Amy Scott explains what they are.Source: Marketplace | 19 Jun 2009 | 4:57 pm Weighing the costs of health careYet another health care reform proposal is floating around Congress, but the Congressional Budget Office has made it clear that these plans won't be cheap and they may not be enough. Tamara Keith reports.Source: Marketplace | 19 Jun 2009 | 4:57 pm NYSE Euronext to gain Qatar stakeNYSE Euronext is to acquire a 20% stake in Qatar Exchange for $200m, in a bid to boost business in the region.Source: BBC News | Business | World Edition | 19 Jun 2009 | 4:56 pm 'Breaking The Bank'Our friends over at Frontline take an extended, gripping look at last fall's near-death experience in American banking, an especially the shotgun wedding of Merrill Lynch and Bank of America. John Thain and Ken Lewis, their respective chiefs, tell the story themselves. Bonus: Simon Johnson interview. We'll run Breaking the Bank in full, after the jump. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 4:55 pm FTSE 100 ends week up 1.52% (AFP)
Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 4:50 pm FTSE 100 ends week up 1.52% (AFP)
Source: Yahoo! News: Business | 19 Jun 2009 | 4:50 pm Porsche global sales slump by 28%Porsche sees its nine-month unit sales slump by more than a quarter after demand is hit by the worldwide recession.Source: BBC News | Business | World Edition | 19 Jun 2009 | 4:44 pm Stannard Says Low Volatility Makes European Stocks AttractiveSource: Bloomberg - All Podcasts | 19 Jun 2009 | 4:38 pm Oil plant sackings spark walkoutsThe sacking of nearly 650 construction workers at Lindsey Oil Refinery prompts a series of walkouts at other sites.Source: BBC News | Business | World Edition | 19 Jun 2009 | 4:37 pm Switzerland agrees to US tax dealSwitzerland agrees a new bilateral framework on divulging personal tax details with the US, as it eases banking secrecy.Source: BBC News | Business | World Edition | 19 Jun 2009 | 4:35 pm Russell Rebalance Included Many Cult Stocks (CBOU, DDRX, OPWV, STEM, UBET)There are some interesting cult stocks which have recovered so much that they are being added into the Russell 3000 Index when the index gets rebalanced and reconstituted at the end of this month. Some of these are new entirely and some of these have been booted off of the Russell 3000 Index before. We [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 4:26 pm This Week’s Weird Jobs
1. Beverly Hills: SEEKING SHARP PERSONAL ASSISTANT I am a busy, hard working and ambitious business owner. I run at a million miles an hour and need you to run alongside and whenever possible, ahead of me and to make me seem accessible when I am not. I need a right hand person for whom no job is too small or big, who is motivated by helping me build my business, by making my life easier and by making me feel and look like I’m ahead of the game. Please respond with your resume and salary history and expectations. Please be OK with the fact that you will never be good enough for me. 2. National: CASTING SINGLE MEN: How Quick Can Pick Up A Chick? If your friends tell you that you’re a character or the life of the party, then we want to see you! If you score the ladies with a talent, whether it’s fire throwing, magic, juggling, or making them laugh, we want to score you a date with a gorgeous woman! Are you an educator who can teach a woman some lessons? Since when is chugging a beer in record time a way to pick up women? 3. Chicago: Help Wanted: Non-Union Plasterers Non-union plasterers for year round work with a property management company. Must have own tools, transportation and must speak English. Please be just like a union guy, but without the union. 4. LA: Stressed Out Salon Owner? Having issue’s with you salon. Difficulties finding staff,getting client’s into the salon, retaining clients, declining retail sales, these are just a few of the problems that can keep you up at night. 5. CA: $10,000 SIGN ON BONUS HVAC Leading commercial environmental mechanical Service contractor is seeking experienced HVAC Technicians with 6+ years of Commercial experience. Guaranteed 40 hours per week we are never slow!!! 10,000 sign on bonus Excellent Compensation and Benefit package including medical, dental, vision, 401(k) with a match, paid holiday and vacation pay, New van…………. You know times have changed when HVAC technicians are the only people getting signing bonuses anymore. Happy Friday!
Source: Business Pundit | 19 Jun 2009 | 4:03 pm Trials on pig cells 'in weeks'Human trials of a diabetes treatment using implanted pig cells could start within weeks after a preliminary decision by the Government, says Living Cell Technologies. The former Labour Government in October gave the Auckland company...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Investors question Edwards' ING roleFormer Fair Go presenter Brian Edwards says he doesn't see any problem with being both the media adviser to ING and the mediator at the meetings the fund manager has held around the country for investors in its frozen funds. Edwards,...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Jean Jones chain caught in ownership wrangleAn unusual stoush over the ownership of women's clothing chain Jean Jones looks likely to head to court. Original owner Michael Ward knew nothing about it when the assets of the business were seized on April 24 and relocated to...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Mighty Martha reaches rock bottomGoldminer Newmont is on an increasingly desperate hunt to avoid going the same way as the last big company in its unprepossessing Waihi headquarters. Philips stopped making Pye televisions and other appliances in the mid-1980s...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Brian Gaynor : Enjoy the dream but beware the falloutGambling is in the spotlight as the Big Wednesday Lotto hits a record $30 million next week. Where do we gamble, how much do we lose and where does this money go, particularly the net takings of the New Zealand Lotteries Commission? The...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Overseers would get last say: EUBRUSSELS: European Union leaders have agreed on new EU financial oversight agencies could overrule national regulators as a last resort - but soothed British fears by saying they should not order them to use taxpayers' money to bail...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm State debts guaranteedCANBERRA: Australia's Parliament has passed legislation to set up guarantees that may cover as much as A$39 billion ($49 billion) of state governments' debts and set up a public register of government borrowings. The bill passed...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Google invests in start-up close to co-founder's heartSAN FRANCISCO: Google loves 23andMe, a biotechnology start-up conceived by co-founder Sergey Brin's wife. In its latest showing of financial affinity, Google has disclosed that it has invested another US$2.6 million ($4.1 million)...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Sony shareholders back reshaping of company's power structureTOKYO: Sony shareholders approved a new management setup at the Japanese electronics and entertainment company yesterday that will centre power around chief executive Howard Stringer and a team of younger executives. They approved...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm BNZ must wait for six weeks to learn its fate in fight with IRDThe judge who heard the first of Inland Revenue's so-called "structure finance" multibillion-dollar tax cases against the major banks expects to come up with his judgment in about six weeks. The IRD has been facing off against...Source: New Zealand Herald - Business | 19 Jun 2009 | 4:00 pm Marta Says U.S. Is in 'Great Deleveraging'Source: Bloomberg - All Podcasts | 19 Jun 2009 | 3:56 pm Fellows Says Golf Is Leading Candidate to Join OlympicsSource: Bloomberg - All Podcasts | 19 Jun 2009 | 3:55 pm Alexander Says Golf `Price Compression' Affecting SponsorshipsSource: Bloomberg - All Podcasts | 19 Jun 2009 | 3:53 pm Foerster Sees 10-Year Treasury Yields Rising Above 5%Source: Bloomberg - All Podcasts | 19 Jun 2009 | 3:53 pm Recovery In New HavenFrom my home state paper, the Hartford Courant comes news that New Haven ranks in the Brookings Institution's Top 20 metro areas in overall economic performance. The ranking is based on employment, unemployment rate, wages, metro gross domestic product, housing prices and foreclosure rates. Unemployment in New Haven increased just 2.5 percent from the first quarter of 2008 to the first quarter of 2009. In Riverside, California, unemployment increased by 5.9 percent. The report suggests New Haven's concentration of jobs in "eds and meds" may have shielded it from the type of dramatic job losses experienced in other parts of the country. Read the full report to see how your city measures up. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 3:30 pm Buying/Selling Berkshire Hathaway The Cheap Way: Stock Options (BRK.B, BRK.A)Admittedly, this almost feels strange. Before this week there have not been any stock options for Berkshire Hathaway, Inc. (NYSE: BRK-A) (NYSE: BRK-B). We received word from the CBOE that this is now no longer the case as there will be CBOE-listed stock options in the Class-B shares of Berkshire Hathaway Inc. There will not [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 3:19 pm Mortgage rates jump in one weekThe past week has seen a big jump in the cost of fixed-rate mortgages to new borrowers, says Moneyfacts.Source: BBC News | Business | World Edition | 19 Jun 2009 | 3:06 pm Newsweek.com Audience Jumps After RelaunchNewsweek.com, just off of the launch of its new website and magazine, posted a large increase in its online audience, according to numbers from Hitwise.com. Newsweek.com’s share of visites to “news” websites moved from .12% the week ending April 23 to .15% the week ending June 13, a 27% increase. Among all news sites, Newsweek.com’s ranking moved [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 2:51 pm Johnson Says U.S. Equities Have Gone Too Far, Too FastSource: Bloomberg - All Podcasts | 19 Jun 2009 | 2:35 pm Lindberg Says Apple's New IPhone Won't Compel Users to UpgradeSource: Bloomberg - All Podcasts | 19 Jun 2009 | 2:34 pm Kotok Says Measures of Risk Are Falling in All MarketsSource: Bloomberg - All Podcasts | 19 Jun 2009 | 2:34 pm Ostwald Says Skepticism About Economic Recovery Is RequiredSource: Bloomberg - All Podcasts | 19 Jun 2009 | 2:33 pm Give It A Go In HawaiiIf you want to attempt to actually make money during the recession, your best bet (according to the U.S. Bureau of Economic Analysis) is to go to Hawaii, or maybe Virginia: Personal income in the fastest growing state, Hawaii, was up 0.8% while personal income in the next fastest growing state, Virginia, grew 0.3%. Earnings growth in these states was concentrated in the federal civilian and military sectors and was accounted for by first-quarter pay raises as well as some initial hiring for the 2010 Census. Meanwhile, R. Allen Stanford, who is under investigation for an alleged $8 billion dollar ponzi scheme, surrendered to the FBI yesterday outside of his girlfriend's home. He's set to appear in court today. Up until now, the only person from Stanford Group Co. to face criminal charges is his chief investment officer, Laura Pendergest-Holt. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 19 Jun 2009 | 2:31 pm Track changesMoney is at the heart of a possible F1 splitSource: BBC News | Business | World Edition | 19 Jun 2009 | 2:29 pm Senator We Have a (Math) ProblemSenator Johnny Isakson (R-GA) has his math wrong. I just heard him on Morning Edition dramatizing the trillion dollar price tag for health-care reform. "If you converted dollars to seconds and you said how many years will it take for a trillion seconds to pass its 317,097 years 11 months and 2 days." He's off, by a lot. Isakson is describing what a much more expensive, 10 trillion dollar program would be. And he forgot about leap years. According to the U.S. Naval Observatory which maintains our atomic clocks, a year is 365.2422 days. So a year has 31,556,926.1 seconds in it. Which would mean that a trillion seconds is about 31,688 years 270 days. Here's our podcast on the large numbers popping up in the financial crisis. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 19 Jun 2009 | 2:05 pm Russell Rebalance Including & Excluding Key IPO’s (BPI, DGI, OPEN, RST, RHIE, SWI, CYOU, LOPE, MJN, RAX)We will have some changes or further additions and deletions coming today from Russell for the highly awaited Russell rebalance and reconstitution taking place late this month. What is interesting about the group’s additions and deletions is that there are many of the hot (and not so hot) companies which came public via an IPO [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 1:35 pm Engine growthEngines are a safer bet than aircraft during a recessionSource: BBC News | Business | World Edition | 19 Jun 2009 | 1:04 pm European stocks rally on technical bounce (AFP)
Source: Yahoo! News: Stock Markets News | 19 Jun 2009 | 12:44 pm Russell Booting Out Speculative Energy Stocks in Rebalances (AXAS, AKNS, AEZ, KAZ, CPE, CFW, CPST, DBLE, EXXI, FTK, GGR, GMET, GRH, TMR, MIND, NCOC, PEIX, QRCP, RAME, TIV, TRMA)This year is going to mark a significant change in the Russell rebalance and reconstitution at end of June. Now that oil and other energy related commodities have been cut in half from the year ago highs, we are seeing a significant number of the smaller cap and more speculative companies tied to energy. This [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 12:44 pm Bove Runs Up Citi Again (C)Citigroup, inc. (NYSE: C) is back under focus by an old bull in the stock. Dick Bove of Rochdale Securities has started coverage of the troubled bank with a BUY rating and a $4.00 price target. That $4.00 may only be just over 25% higher than the $3.13 price. But this is also something that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 19 Jun 2009 | 12:07 pm Thinking Outside the Box Doesn’t Work in Geometry Class
Source: Business Pundit | 19 Jun 2009 | 11:40 am
|
