World Business News Headlines for June 29, 2009

Anglo seeks Dubai cash to develop Brazilian ore project

Anglo American, the mining conglomerate that is being stalked by Xstrata, its Swiss-based rival, is in talks with Dubai Natural Resources World to co-develop iron ore assets in Brazil.

Source: Latest Business News from Times Online | 29 Jun 2009 | 9:30 pm

US stock futures point slightly higher (AP)

AP - Investors are looking to start a holiday-shortened week on a positive note.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 11:06 am

Vodafone talk lifts European equities (AFP)

AFP - European stock markets rallied on Monday, helped by a report that mobile phone giant Vodafone could launch a bid for the British unit of Germany's T-Mobile, traders said.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 11:06 am

Overseas sales boost Asos profits

Online fashion retailer Asos reports a 93% rise in annual profits, after a four-fold increase in its international sales.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 10:55 am

Restoring lending crucial to U.K. recovery: OECD

British authorities may need to take bolder steps to foster the easier credit conditions that are critical to a lasting economic recovery, the Organization for Economic Cooperation and Development says in a report.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 10:52 am

Vote ends refinery jobs dispute

Workers vote to accept a deal which brings an end to the Lindsey oil refinery jobs dispute that spread to other sites.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 10:47 am

Miners hurt by China report; banks drag on Tokyo

Asian stock markets start the week on a mixed note, with losses in financials weighing on Japan’s benchmark index while miners drag Sydney lower after a report that China has ended its program of stockpiling supplies of metals.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 10:46 am

Oil rises towards $70 on Nigeria attack report

LONDON (Reuters) - Oil rose toward $70 a barrel on Monday after Nigeria's main militant group said it attacked a Royal Dutch Shell oil platform, outweighing a fairly bearish report from the International Energy Agency (IEA).

Source: Reuters: Business News | 29 Jun 2009 | 10:45 am

Economic Report: British lending remained weak in May

Lending to British households picked up slightly in May, but remained weak by historical standards, according to data released Monday by the Bank of England.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 10:45 am

European markets up modestly after solid euro data (AP)

AP - European stock markets rose modestly Monday despite earlier losses in Asia as investor sentiment was buoyed by upbeat European economic data, which stoked hopes that the worst of the recession has passed.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 10:41 am

Madoff faces sentencing for massive Ponzi scheme

Bernard Madoff will arrive at a Manhattan courthouse Monday to face sentencing for running the biggest Ponzi scheme in history.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 10:36 am

Vodafone 'mulls bid for T-Mobile'

Vodafone declines to comment on a report that it is considering buying rival mobile phone firm T-Mobile UK.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 10:35 am

Madoff faces sentencing in court

Disgraced financier Bernard Madoff could be given a life sentence by a US court for a $50bn investment fraud.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 10:22 am

Don't like your clothes? Forget complaining and start tweeting retailer tells shoppers

If you've got a problem with your Kate Mossinspired summer dress don't pick up the phone or write an angry letter online clothing retailer ASOS is now addressing customer complaints and comments through microblogging site Twitter.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 10:21 am

Oil edges higher on Nigeria turmoil

Read full story for latest details.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 10:20 am

Microsoft may sell digital agency

Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 10:11 am

RLPC-EMEA syndicated loans down 38 pct to $327 bln in H1

LONDON, June 29 (Reuters) - Lending in Europe, the Middle East and Africa continued to slump with a 38 percent drop at the half year to $327 billion compared with the first half of 2008, according to Thomson...
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 10:11 am

Europe Markets: Europe shares modestly higher, Deutsche Telekom up

European shares post small gains on Monday as oil producers advance and merger-and-acquisition speculation and broker upgrades boost sentiment.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 10:10 am

Anglo may look for Brazil partner, not defense move

LONDON (Reuters) - Miner Anglo American is considering finding a partner for its huge iron ore project in Brazil, including from China, but the move is not a defense against an unwanted...
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 10:09 am

Anglo may look for Brazil partner, not defense move

LONDON (Reuters) - Miner Anglo American is considering finding a partner for its huge iron ore project in Brazil, including from China, but the move is not a defense against an unwanted merger approach from rival Xstrata , sources familiar with the situation said on Monday.

Source: Reuters: Business News | 29 Jun 2009 | 10:09 am

Microsoft (MSFT) And Sony (SNE) To Drop Game Prices

Sony (SNE) is getting ready drop the price on its PS3 and Microsoft (MSFT) is set to do the same with the Xbox 360. At least that is how “inside baseball” tech site Ars Technica tells it. The probability that price cuts are coming makes sense. The recession has decimated video game console sales and Microsoft [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 10:08 am

National Express turns down bid

Rail and bus operator National Express rejects a takeover approach from its larger rival FirstGroup.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 10:02 am

New Legal Force to End Racism in Juvenile Justice and Child Welfare

WASHINGTON, June 29 /PRNewswire/ -- A new legal force launched by TimeBanks USA aims to bring the ineffective and expensive rote practice of sending minority youth to confinement
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 10:00 am

Indications: Futures edge lower, Madoff to be sentenced

U.S. stock-market futures edge lower Monday at the start of a holiday-shortened week, with the focus of attention likely to be the sentencing of Bernard Madoff for his multibillion-dollar fraud.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 10:00 am

Bridge Street Development Corporation Launches a Free Foreclosure Webinar Series

Tuesday, June 30, 2009 - 6:30pm - 8:00pm BROOKLYN, N.Y., June 29 /PRNewswire/ -- Bridge Street Development Corporation (BSDC) cordially invites those who are...
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 10:00 am

Girl Scouts Congratulates CEO Sharon Reece on 21 Years of Service

Search Commences for New CEO VENTURA, Calif., June 29 /PRNewswire/ -- The Board of Directors of Girl Scouts of California's Central Coast (GSCCC) today...
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 10:00 am

UPDATE 2-SAP aims to hit key margin target by 2014-document

* Says document internal, should not be seen as guidance
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 9:59 am

Pearl set for London listing after reverse takeover

Insurance group Pearl is to be listed in London later this year following a reverse takeover by Cayman Islandbased Liberty Acquisition Holdings.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 9:59 am

HSBC-led fund buys Oman power stake from GDF

DUBAI, June 29 (Reuters) - A regional infrastructure fund led by HSBC Holdings Plc on Monday said it bought a 32.8 percent stake in an Omani power project from French utilities giant GDF Suez .
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 9:51 am

IBM's 'Jeopardy!' computer

I'm a bit intimidated entering IBM's research center in Hawthorne, New York. After all, the company's sales totaled $104 billion...yes, billion...last year.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 9:50 am

Twitter Becomes An Enemy Of Big Business

Twitter has a lot of people posing as someone they are not, a problem that plagues larger social networks MySpace and Facebook. The trend with Twitter is becoming a significant problem for big corporations. According toThe Wall Street Journal, “Exxon Mobil Corp. (XOM) has found at least two unauthorized Twitter accounts under variations of its name.” The accounts were [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 9:49 am

Vodafone may bid for T-Mobile U.K.: rpt

Vodafone Group may bid for T-Mobile U.K. in a deal that would create a new leader in the U.K. mobile-phone market and seal its long-expected consolidation, several media outlets reported Monday.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 9:40 am

Towers Perrin, Watson Wyatt to merge in $3.5 billion deal (Reuters)

Reuters - Consulting firms Towers Perrin Forster & Crosby and Watson Wyatt Worldwide said on Sunday they plan to merge in an all-stock deal valued at about $3.5 billion, as they hope to cut costs amid an economic slump that has caused clients to curb discretionary spending.
Source: Yahoo! News: Business | 29 Jun 2009 | 9:39 am

Towers Perrin, Watson Wyatt to merge in $3.5 billion deal

NEW YORK (Reuters) - Consulting firms Towers Perrin Forster & Crosby and Watson Wyatt Worldwide said on Sunday they plan to merge in an all-stock deal valued at about $3.5 billion, as they hope to cut costs amid an economic slump that has caused clients to curb discretionary spending.

Source: Reuters: Business News | 29 Jun 2009 | 9:39 am

UPDATE 1-Deals of the day -- mergers and acquisitions

** South Korea's Kumho Asiana Group said it had decided to put Daewoo Engineering & Construction Co up for a sale to ease investors worries about its liquidity. [ID:nSEO340774]
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 9:33 am

UPDATE 1-Aurobindo in court on S.Africa AIDS drug tender

JOHANNESBURG, June 29 (Reuters) - Indian pharmaceutical company Aurobindo is taking South Africa's Treasury to court after it lost out to local drug firms in a $400 million contract for anti-retroviral...
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 9:31 am

Mortgage approvals still rising

The number of mortgages approved for house buying rose again in May, according to the Bank of England.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 9:31 am

Future of Alternative Energy Report Released for Fuel Cell Stocks BLDP, ENA, FCEL, HOKU, HYGS, and MDTL

LAS VEGAS, June 29 /PRNewswire/ -- An article addressing the future of fuel cell equities has been released and is available free of charge at:
Source: RSS feed - channel BNewsBusiness | 29 Jun 2009 | 9:30 am

In A Strange Development, Big Oil Turns To Wind Power

Oil exploration and refining companies are natural enemies of alternative energy. Wind power, nuclear power, clean coal, and solar could all undermine the value of crude in world markets. Oil companies have a great deal to gain if new sources for heating and electricity prove successful, even if they will not admit as much in [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 9:26 am

Hey, Wall Street: Stop the whining

Yes, the federal government does a lot of stupid things. And yes, it's easy to see why Wall Street firms are bailing out of the Troubled Asset Relief Program: to avoid having to deal with the government's ever-changing rules and with publicity-hungry congressmen. (Is there any other kind?) But that doesn't excuse the way that Wall Street is engaged in selective memory now that the government has shelled out trillions of taxpayer dollars to keep the Street alive. Wall Street, which I define as our major financial institutions, is complaining that the government is messing up the financial system through its attempts at reregulation, its new credit card rules, and its invention of things such as a pay czar.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 9:20 am

TARP Warrants: Spreading the Value Game Beyond The Government

The Treasury said that it plans to dispose of the warrants that it got from banks as part of bail out financing given to, and, in some cases, forced upon major US financial firms at the end of last year. Bloomberg reports that the government wants out of its role as a holder of interests [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 9:13 am

Stocks set for sideways open

U.S. stock futures were little changed Monday as investors took a wait-and-see mode ahead of the close of the second quarter.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 9:09 am

Make the most of your holiday cash

Don't lose your hardearned money to fees and charges. Here are 10 ways to minimise costs and maximise benefits for a great getaway.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 9:06 am

Stock futures flat ahead of Madoff sentencing (Reuters)

Reuters - Dow Jones futures dipped 0.1 percent, S&P 500 futures were down 0.01 percent while Nasdaq futures traded 0.02 percent higher on Monday morning at 4:45 a.m. EDT, pointing to a flat opening for Wall Street's main equity indexes.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 9:05 am

Stock futures flat ahead of Madoff sentencing (Reuters)

Source: Yahoo! News: Business | 29 Jun 2009 | 9:05 am

Stock futures flat ahead of Madoff sentencing

(Reuters) - Dow Jones futures dipped 0.1 percent, S&P 500 futures were down 0.01 percent while Nasdaq futures traded 0.02 percent higher on Monday morning at 4:45 a.m. EDT, pointing to a flat opening for Wall Street's main equity indexes.

Source: Reuters: Business News | 29 Jun 2009 | 9:05 am

Dell (DELL) Becomes An American “Also Ran” (HPQ)(AAPL)

The New York Times recently made the point that Acer may soon pass Dell (DELL) as the world’s second-largest PC manufacturer. This analysis indicates that Dell favored direct sales for too long while Acer went into retail outlets. Acer began to aggressively sell laptops to consumers while Dell continued to pursue the slower-growing corporate market. Dell’s [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 8:58 am

UBS could pay up to $4.6 bln to settle U.S. probe

Switzerland’s UBS may be close to settling a civil suit with U.S. authorities that could cost the bank as much as $4.6 billion, according to a Swiss media report.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 8:51 am

IEA revises down global oil demand forecast

LONDON (MarketWatch) - The speed of the global economic recovery will be the key driver of global oil demand in the next few years, although a significant chunk of that demand may have been destroyed by the economic crisis, the International Energy Agency said Monday as it revised down its six-year forecast.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 8:49 am

Vodafone eyes T-Mobile UK bid

The UK mobile operator is looking at the case for acquiring its rival which has an estimated enterprise value of €3bn-€4bn
Source: Financial Times - US homepage | 29 Jun 2009 | 8:45 am

With Unemployment Moving To 9.6%, Economic Impact Of Jobs Is Just Beginning

The unemployment rate for June is likely to go to 9.6% or higher according to most analyst estimates. There are anecdotes from all over the country that businesses which have cut people are prepared to get along without replacing them until it is crystal clear that the economy is in a full-blown recovery. That could [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 8:45 am

National Express shares jump on FirstGroup allshare merger approach

Shares in the rail and bus operator jumped more than 6pc after Firstgroup confirmed a possible allshare merger offer had been rejected.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 8:44 am

Time for Apple to open up about Jobs

Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 8:42 am

2 employment consulting giants to merge

Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 8:30 am

London Markets: Vodafone Group advances in modestly higher London

Vodafone Group shares advanced in London amid a report that it may undertake a deal that will boost its presence in the U.K. mobile-phone market.

Source: MarketWatch.com - Top Stories | 29 Jun 2009 | 8:28 am

Dollar edges up, global stocks hold ranges (Reuters)

Reuters - The dollar recovered a little ground on Monday after falling late last week on a renewed call by China for a super-sovereign reserve currency, and stocks traded just below the top of recent ranges.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 8:08 am

Madoff's day of reckoning arrives

Bernard Madoff, the mastermind behind the largest and most sweeping Ponzi scheme ever, on Monday faces the possibility of spending the rest of his life behind bars.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 8:06 am

Secrets to finding the best home loan

When the easy money was flowing, you could get a great deal on a mortgage from just about anyone. But in today's credit-challenged world, all the avenues for finding a mortgage come with their own set of problems.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 8:05 am

Investors brace for the second half

Investors barrel into the second half of the year in a holiday-shortened trading week that's loaded with key economic news.
Source: Business and financial news - CNNMoney.com | 29 Jun 2009 | 8:01 am

Media Digest 6/29/2009

Reuters: GM will accept product liability on cars it has built in the past. Reuters: Obama could consider a second stimulus if necessary. Reuters: Rising office availability in NYC is slowing. Reuters: VW says it has not issued an ultimatum to Porsche on a tie-up. Reuters: Tata launched Jaguar and Rover in India. Reuters: Microsoft (MSFT) will sell its Razorfish [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 7:54 am

Candover Investment shares jump

Shares in Candover Investments jumped after the private equity firm said it had enough cash to meet loan covenants.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 7:28 am

Share sale hits Daiwa Securities

Daiwa Securities sees its shares fall 12% after announcing plans to raise $2.5bn in a public share offering.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 7:27 am

Asia Markets And Europe Open 6/29/2009

Markets in Asia were mixed. The Nikkei fell 1% to 9,783. The Hang Seng was off .5% to 18,506. The Shanghai Composite rose 1.6% to 2,75. At the open in Europe, the FTSE rose .2% to 4,247. The Dax was up .1% to 4,771. The CAC 40 dropped 1% to 3,127. Data from Reuters and MarketWatch. Douglas A. McIntyre Posted in International [...]

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Source: 24/7 Wall Street | 29 Jun 2009 | 7:24 am

Iran releases five of nine UK embassy staff

Iran said it had released five out of nine UK embassy staff detained in Tehran after the European Union's 27 nations joined forces to condemn the arrests
Source: Financial Times - US homepage | 29 Jun 2009 | 7:21 am

Australian stocks: Market closes slightly lower

MELBOURNE - The Australian share market has closed slightly lower, with directionless trade ahead of the financial year end on Tuesday. At the 1615 AEST close of trading the benchmark S&P/ASX200 was 16.9 points, or 0.43 per cent...
Source: New Zealand Herald - Business | 29 Jun 2009 | 7:15 am

LCD and plasma TV sales brighten retail picture

Slashed prices, the digital transition and a budget-prompted tendency to spend more time at home motivate consumers to upgrade their televisions.

On the shopping list for budget-minded consumers: groceries, gas -- and a new flat-panel TV?

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

Steve Jobs set to return to Apple

The CEO is the very embodiment of the firm and its principles. But the company's business culture has led to some criticism and challenges.

With the intense -- some would say obsessive -- scrutiny of Steve Jobs and his health, what is sometimes overlooked is the company he founded and built: Apple Inc.

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

LCD and plasma TV sales brighten retail picture

Slashed prices, the digital transition and a budget-prompted tendency to spend more time at home motivate consumers to upgrade their televisions. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 7:00 am

Markets to see a relative calm as earnings loom

Economic data due out this week could have only a muted effect. Financial reports and profit outlooks are sure to dictate moves by investors in the coming weeks. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 7:00 am

GM offers to take on future product liability claims

General Motors Corp. has agreed to take on responsibility for future product liability claims, removing what could have been a sizable roadblock on the automaker's path to a quick sale of its assets and emergence from Chapter 11 bankruptcy as a new company.

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

'Transformers' sequel is No. 1 around the world

'Revenge of the Fallen' rakes in $387 million in global ticket sales and sets a record in the U.S. and Canada. A final gross of more than $800 million is all but certain for the live-action film. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 7:00 am

Michael Jackson's music revived an industry and captivated the world

The degree to which Jackson shaped pop culture may not be fully grasped for years. Meanwhile, the best we can do is marvel at its magnitude. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 7:00 am

Markets to see a relative calm as earnings loom

Economic data due out this week could have only a muted effect. Financial reports and profit outlooks are sure to dictate moves by investors in the coming weeks.

Markets have replaced big gains with little change.

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

Little love this summer for A-list actors

Instead of igniting the box office, this season's star-studded flicks have dramatically underperformed. Hollywood's most lucrative films mostly have been those with no-name actors. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 7:00 am

Bernard Madoff to hear sentence

Some victims lost their life savings. Prosecutors seek a 150-year sentence for the mastermind of the multibillion-dollar Ponzi scheme, but some experts say even a life term in prison is no certainty.

Peter Moskowitz's retirement was marred forever when he lost his life savings to Bernard L. Madoff -- and he doesn't want the disgraced financier's golden years to be any better.

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

Little love this summer for A-list actors

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

Michael Jackson's music revived an industry and captivated the world

The degree to which Jackson shaped pop culture may not be fully grasped for years. Meanwhile, the best we can do is marvel at its magnitude.

Two encounters with the phenomenon of Michael Jackson:

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

'Transformers' sequel is No. 1 around the world

'Revenge of the Fallen' rakes in $387 million in global ticket sales and sets a record in the U.S. and Canada. A final gross of more than $800 million is all but certain for the live-action film.

Problems at Paramount Pictures? For the moment they feel like a distant memory.

Source: L.A. Times - Business | 29 Jun 2009 | 7:00 am

GM offers to take on future product liability claims

General Motors Corp. has agreed to take on responsibility for future product liability claims, removing what could have been a sizable roadblock on the automaker's path to a quick sale of its assets and...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 7:00 am

NZ stocks: Market ends slightly higher

The New Zealand sharemarket posted modest gains on a mixed day ahead of the June 30 year-end. The benchmark NZSX-50 index closed up 4.5 points, or 0.162 per cent, at 2775.119. Turnover was worth $121.9 million. There were 31 rises...
Source: New Zealand Herald - Business | 29 Jun 2009 | 6:54 am

Japan production rises again

Japanese industrial output rose 5.9% in May, the third consecutive monthly climb, with car production especially strong.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 6:53 am

Sports clothing company Line 7 in receivership

A receiver has been appointed to clothing company Line 7. KordaMentha confirmed that partners Grant Graham and Brendon Gibson have been appointed as receivers. TV3 reported that 11 stores were affected and the company employed...
Source: New Zealand Herald - Business | 29 Jun 2009 | 6:45 am

China halts metals stockpiling for now: report (AFP)

AFP - Beijing has suspended buying non-ferrous metals for state reserves after government stockpiling led to a surge in prices, Chinese media has reported.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 6:35 am

Mervyn King deserves applause for standing up to the Government

The Governor of the Bank of England is right to fight hard for powers to regulate banks argues Liam Halligan.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 6:34 am

Vodafone considers offer for TMobile UK

Mobile phone operator is reportedly weighing up a deal that would create a market leader if the regulator allows it.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 5:51 am

Currency: Dollar little changed

The New Zealand dollar traded in a fairly narrow range on a day in which the US dollar steadied. By 5pm the NZ dollar was at US64.35c, little changed from US64.53c at 8am and US64.50c at 5pm on Friday. It moved to the higher...
Source: New Zealand Herald - Business | 29 Jun 2009 | 5:40 am

Madoff can expect de facto life term at sentencing (Reuters)

Reuters - Admitted thief Bernard Madoff will leave his jail cell and be taken under guard to court on Monday morning to hear his punishment for running Wall Street's biggest and most brazen investment scheme.

Source: Yahoo! News: Business | 29 Jun 2009 | 5:06 am

Madoff can expect de facto life term at sentencing

NEW YORK (Reuters) - Admitted thief Bernard Madoff will leave his jail cell and be taken under guard to court on Monday morning to hear his punishment for running Wall Street's biggest and most brazen investment scheme.

Source: Reuters: Business News | 29 Jun 2009 | 5:06 am

UK public sector pensions burden worse than in US

Generous public sector pension promises in the UK are three times as much of a drain on the private sector than in North America a new report shows.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 29 Jun 2009 | 4:59 am

Steve Jobs set to return to Apple

The CEO is the very embodiment of the firm and its principles. But the company's business culture has led to some criticism and challenges. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 3:41 am

Army ousts Honduras president

The Honduran army ousted President Manuel Zelaya and threw him out of the country in Central America's first military coup since the Cold War, after he upset the army by trying to win re-election.
Source: Financial Times - US homepage | 29 Jun 2009 | 2:55 am

Bernard Madoff to hear sentence

Some victims lost their life savings. Prosecutors seek a 150-year sentence for the mastermind of the multibillion-dollar Ponzi scheme, but some experts say even a life term in prison is no certainty. ...
Source: RSS feed - channel BNPaperBusiness | 29 Jun 2009 | 2:51 am

Stocks eye job data in July 4th week (Reuters)

Reuters - For investors, June's job data could determine in this short July 4th holiday week if the stock market's recent rally is reignited or sputters out like a wet firecracker.

Source: Yahoo! News: Stock Markets News | 29 Jun 2009 | 2:29 am

Microsoft to sell Razorfish: report

NEW YORK (Reuters) - Microsoft has hired Morgan Stanley to sell Razorfish, its digital agency, and French marketing company Publicis Groupe SA is thought to be a possible bidder, the Financial Times said on its Website late Sunday.

Source: Reuters: Business News | 29 Jun 2009 | 2:15 am

Venture capital fund targets tech start-ups

A new fund called the 2 Ignite Fund aims to attract $50 million from New Zealand institutions and investors to invest in technology-based companies. Andrew Duff and Henry Tait, who formed angel investment company Sparkbox along...
Source: New Zealand Herald - Business | 29 Jun 2009 | 1:45 am

For modest earners, relief repaying student loans (AP)

AP - Repaying a student loan could soon be a little less painful.
Source: Yahoo! News: Business | 29 Jun 2009 | 1:28 am

Air NZ considers legal action against Qantas

Air New Zealand is considering its options, including legal action, for recovering the cost of a strike action by Qantas workers. An Air New Zealand spokesman said the airline was considering its options and hoped to make a decision...
Source: New Zealand Herald - Business | 29 Jun 2009 | 1:10 am

Finance sector 'sees improvement'

There are signs that the financial services sector is emerging from the worst of the downturn, a CBI survey suggests.
Source: BBC News | Business | World Edition | 29 Jun 2009 | 1:08 am

Political disputes threaten sale of rights to exploit Iraqi oilfields

Executives from the world’s leading oil companies are flying to Baghdad today to place bids in the first auction of production contracts for Iraqi oil since the 2003 invasion.

Source: Latest Business News from Times Online | 29 Jun 2009 | 12:00 am

Magic fades for Clifford Chance with Americans on brink of centre stage return

Clifford Chance is at risk of being knocked off its pillar as the world’s biggest law firm by an American rival as the balance of power in global legal services shifts from London back to the United States.

Source: Latest Business News from Times Online | 29 Jun 2009 | 12:00 am

Is Oliver biting off more than he can chew?

Someone, an otherwise anonymous television producer or director making a film about the River Café restaurant, saw something, a hint of star quality. Bustling in the kitchen was a young sous chef, snapping back at the camera crew, obsessed and fascinated, and if he played a relatively minor role in the real world of Rose Gray’s and Ruth Rogers’ famed Italian eaterie, he was a star of the show when it hit the screen.

Source: Latest Business News from Times Online | 29 Jun 2009 | 12:00 am

Sports stadia boost building consents

The construction industry across the country may be coming out of its steady decline - but it's not house-building that is driving all the activity. For almost every month this year, the value of non-residential building consents...
Source: New Zealand Herald - Business | 28 Jun 2009 | 11:40 pm

Imports slump 20pc as trade surplus soars

New Zealand's trade surplus in May was its largest, as a percentage of exports, since 1993 as imports fell heavily. Statistics New Zealand (SNZ) today said the surplus last month was $858 million, or 21.7 per cent of the value...
Source: New Zealand Herald - Business | 28 Jun 2009 | 11:30 pm

National Express snubs bid from rival

National Express has rejected an unsolicited takeover bid from its larger rival FirstGroup in a surprise development likely to put further pressure on the bus and rail operator.News of the board's decision...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2009 | 11:08 pm

Indices to track nations at risk of default

Spiralling government debt around the world has prompted the creation of the first tradeable indices tracking the risks of countries defaulting. Markit , the data provider, will announce plans on Monday...
Source: RSS feed - channel BNPaperBusiness | 28 Jun 2009 | 10:51 pm

North Korean 'bright leader' visits China

Kim Jong-woon joined a delegation of senior military officials for a top-secret, week-long visit to China in mid-June in spite of Beijing's claims that no such trip occurred
Source: Financial Times - US homepage | 28 Jun 2009 | 10:36 pm

NZ Shares: Small early gains for local market

The New Zealand sharemarket made small early gains to start the week, after Friday went flat following the release of figures showing a worse-than-expected contraction in the economy. Around 10.15am the benchmark NZX-50 index was...
Source: New Zealand Herald - Business | 28 Jun 2009 | 10:34 pm

Microsoft puts Razorfish up for sale

Microsoft has appointed Morgan Stanley to find a potential buyer for Razorfish, its digital agency
Source: Financial Times - US homepage | 28 Jun 2009 | 10:33 pm

Bernie Madoff goes down in silence

There are at least 13500 reasons why Bernie Madoff is staring at a 150year jail sentence says James Quinn.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Jun 2009 | 10:06 pm

Independent News gets deadline extension

Independent News & Media (INM), which owns a 39 per cent stake in New Zealand Herald-owner APN News & Media, has been given more time to repay a 200 million euro ($444.2m) bond. Irish-based INM said a financial standstill agreement...
Source: New Zealand Herald - Business | 28 Jun 2009 | 10:00 pm

GM accepts product liability in bid to clear sale

DETROIT (Reuters) - General Motors Corp has agreed to accept liability for future product defects as one of several concessions offered in a bid to win court approval for a quick sale from bankruptcy.

Source: Reuters: Business News | 28 Jun 2009 | 9:48 pm

GM accepts product liability in bid to clear sale (Reuters)

Reuters - General Motors Corp has agreed to accept liability for future product defects as one of several concessions offered in a bid to win court approval for a quick sale from bankruptcy.
Source: Yahoo! News: Business | 28 Jun 2009 | 9:48 pm

Miners reject Xstrata promise

Grass roots opposition to a merger with Anglo American is growing in South Africa as unions express doubts over Mick Davis's job promises.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Jun 2009 | 9:22 pm

Romer upbeat on US economy

The US economy will feel a substantial boost from the Obama administration's emergency spending package over the next few months, says Christina Romer, a senior White House official
Source: Financial Times - US homepage | 28 Jun 2009 | 7:57 pm

Anglo American seeks Brazil stake buyer

The miner is sounding out potential investors for its Brazilian ore assets as it prepares a detailed response to Xstrata's £40bn merger proposal and seeks a new chairman
Source: Financial Times - US homepage | 28 Jun 2009 | 7:41 pm

Facebook, Twitter and peers for sale privately (AP)

AP - Scott Painter makes his living betting on startup companies, having played a role in launching 29 of them over the years. But with the bad economy choking initial public offerings and acquisitions, Painter is now backing an idea that makes it easier for insiders like him to sell shares in their companies even before they go public.
Source: Yahoo! News: Stock Markets News | 28 Jun 2009 | 6:59 pm

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