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Tesco suffers 41% protest vote on pay rewardsTesco investors today gave the supermarket retailer a bloody nose after more than 40 per cent of those voting at its annual meeting in Glasgow opposed proposed changes to its share option scheme. Source: Latest Business News from Times Online | 3 Jul 2009 | 1:56 pm John Lewis sales down as consumers sunbatheSales at John Lewis department stores fell by 3.7 per cent last week as warmer weather and sporting events such as Wimbledon kept people out of the shops. Source: Latest Business News from Times Online | 3 Jul 2009 | 1:25 pm Punch narrowly avoids bloody nosePunch Taverns, the embattled pub operator, narrowly avoided an embarrassing setback today as shareholders voted in favour of its plans for a £375 million share issue - just. Source: Latest Business News from Times Online | 3 Jul 2009 | 1:22 pm Mandelson pledges support to Vauxhall workersLord Mandelson today told workers at a Vauxhall plant that the Government will underwrite a deal to buy out the group from General Motors (GM), its bankrupt parent, and that retaining production facilities in the UK remained a “top priority”. Source: Latest Business News from Times Online | 3 Jul 2009 | 1:03 pm NewsWatch: Bleak earnings season shines light on outlooksU.S. stock analysts generally agree the upcoming second-quarter earnings season will be bleak. But they’re at odds over whether dreary outlooks will lead to upsets to the upside or whether the market has set itself up for a fall.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 1:00 pm Cosalt warns on covenants after £3.4m lossShares of Cosalt, the marine safety group in which Carphone Warehouse co-founder David Ross is a major shareholder, fell sharply this morning on news of a half-year loss and a warning that the firm may breach its banking covenants. Source: Latest Business News from Times Online | 3 Jul 2009 | 12:55 pm Jobs crush stocksStocks tumbled Thursday, with the Dow losing 212 points, after a worse-than-expected jobs report hammered hopes that the economy is close to stabilizing.Source: Business and financial news - CNNMoney.com | 3 Jul 2009 | 12:41 pm Oil brokerage PVM names rogue trader behind oil spikeLONDON (Reuters) - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week which landed the firm with a loss of nearly $10 million.Source: Reuters: Business News | 3 Jul 2009 | 12:40 pm Oil brokerage PVM names rogue trader behind oil spike (Reuters)
Source: Yahoo! News: Business | 3 Jul 2009 | 12:40 pm Oil's record high, one year laterOne year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrelSource: Business and financial news - CNNMoney.com | 3 Jul 2009 | 12:38 pm UPDATE 1-Hong Kong finds 1st case of Tamiflu-resistant H1N1HONG KONG, July 3 (Reuters) - Hong Kong's health department said on Friday it had detected a case of human swine influenza virus that was resistant to Tamiflu, the main antiviral flu drug.Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:38 pm Cool gadgets: Where tech is headed nextTech competition is heating up: Google vs. Microsoft! Microsoft vs. Apple! Apple vs. Palm! Here's how the second half of '09 is shaping up.Source: Business and financial news - CNNMoney.com | 3 Jul 2009 | 12:36 pm TSX may open little changed in thin trade (Reuters)Reuters - Toronto's main stock market index could open little changed on Friday morning in thin trading with the U.S. markets closed for a holiday and mixed commodity prices.Source: Yahoo! News: Stock Markets News | 3 Jul 2009 | 12:36 pm UPDATE 2-China crude stocks near IEA member level-Tanaka* China's crude stocks equal to 86 days of imports - TanakaSource: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:34 pm UK services sector grows for a second month but at a slower paceBritain's dominant services sector grew for the second month in a row in June a respected survey showed on Friday but it grew at a slightly slower pace than May and new orders actually fell.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 12:34 pm Venture Capital Growing Again in Clean Energy and Clean Technology (GE, DGW, BWEN)It seems that venture capital has started to reappear in clean energy and clean technology. A report this week from The Cleantech Group with contributions from Deloitte saw a resumption to growth in venture investing after two quarters of decline. The funding seems focused on electric vehicles and in biofuels, but interestingly enough the investments [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 12:31 pm Hong Kong finds 1st case of H1N1 resistant to TamifluHONG KONG, July 3 (Reuters) - Hong Kong's health department said on Friday it had detected a strain of human swine influenza virus, or H1N1, that was resistant to Tamiflu, the main antiviral flu drug.Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:25 pm Sahara gas pipeline gets go-aheadNigeria, Niger and Algeria agree to build a multi-billion-dollar gas pipeline across the Sahara.Source: BBC News | Business | World Edition | 3 Jul 2009 | 12:23 pm Beijing Auto submits Opel offerChinese carmaker Beijing Auto has made a non-binding offer for Opel in the third such bid to be received by General MotorsSource: Financial Times - US homepage | 3 Jul 2009 | 12:21 pm Rogue oil trader blamed for Tuesday spikeUnauthorized trading in oil futures by an employee resulted in a nearly $10 million loss for brokerage PVM Oil Futures and is being blamed for a dramatic spike in futures prices earlier this week.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 12:20 pm FTSE extends losses, falls 0.25% (AFP)
Source: Yahoo! News: Stock Markets News | 3 Jul 2009 | 12:19 pm Real Estate Weekly: Why those who can pay walk away from mortgagesNew research found that more than 25% of mortgage loan defaults are strategic -- that is, a quarter of homeowners who default on their mortgages are walking away from their homes even if they can afford to make their payments.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 12:02 pm Realty Q&A: Using homestead laws to protect you from creditorsA friend of mine asked me about homesteading as a way to keep credit-card companies and other creditors from placing liens against someone's home.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 12:01 pm BHP Billiton sells Queensland nickel refinerBHP Billiton, the world's biggest miner, today agreed to sell its loss-making Yabulu nickel refinery in Queensland to companies controlled by Australia's fifth-richest man, Professor Clive Palmer. Source: Latest Business News from Times Online | 3 Jul 2009 | 12:00 pm UPDATE 1-Carlyle, Primus among bidders for AIG unit-sourcesHONG KONG/TAIPEI, July 3 (Reuters) - Global investors Carlyle [CYL.UL] and Primus are among the bidders for AIG's Taiwan insurance unit, sources said on Friday, as the troubled U.S. insurer looks to divest...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:00 pm UPDATE 1-Carlyle, Primus among bidders for AIG unit-sourcesHONG KONG/TAIPEI, July 3 (Reuters) - Global investors Carlyle [CYL.UL] and Primus are among the bidders for AIG's Taiwan insurance unit, sources said on Friday, as the troubled U.S. insurer looks to divest...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:00 pm UPDATE 1-Palm oil firm Wilmar hires banks for big China IPOHONG KONG, July 3 (Reuters) - Wilmar International , the world's largest listed palm oil company, has hired three banks to handle what sources say could be a $3 billion flotation of its China business...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:00 pm Alaska Airlines Inaugurates Portland-Maui ServicePORTLAND, July 3 /PRNewswire-FirstCall/ -- Alaska Airlines today will inaugurate service between Portland, Ore., and Maui. The thrice-weekly flights will expand to daily service...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 12:00 pm Oil brokerage PVM says rogue trader behind oil spikeLONDON (Reuters) - PVM Oil Futures Limited said on Friday that Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 11:56 am Oil below $67 after bleak U.S. jobs dataLONDON (Reuters) - Oil traded below $67 a barrel on Friday, after a fall of nearly 4 percent in the previous session, pressured by a stronger dollar and investor concern about the economic outlook and energy demand.Source: Reuters: Business News | 3 Jul 2009 | 11:54 am Oil below $67 after bleak U.S. jobs dataLONDON (Reuters) - Oil traded below $67 a barrel on Friday, after a fall of nearly 4 percent in the previous session, pressured by a stronger dollar and investor concern about the economic...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 11:54 am Innovated Marketing Group Partners Up With CarbonCopyPRO's Turn Key 'BUSINESS IN A BOX' Home Base Business Opportunity!PARKLAND, Fla., July 3 /PRNewswire/ -- South Florida is buzzing with excitement since news leaked out that Innovated Marketing Group had become one of the newest marketers at...Source: RSS feed - channel BNewsBusiness | 3 Jul 2009 | 11:53 am Currencies: Dollar edges higher in thin trade ahead of holidayDollar edges higher against its major counterparts Friday.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 11:46 am Michael Jackson's death could benefit Dutch fundAMSTERDAM (Reuters) - For Dutch pension fund ABP, Michael Jackson's death could be good for business.Source: Reuters: Business News | 3 Jul 2009 | 11:39 am Which Ad Came First?
Source: Business Pundit | 3 Jul 2009 | 11:39 am Grim U.S. jobless numbers damp economic recovery hopesThe loss of 467,000 jobs in June is far more than expected, and reverses a trend in which the monthly losses had been steadily shrinking from a January peak.After four straight months of encouraging signs, the nation's unemployment picture has unexpectedly darkened -- a sobering jolt to hopes that the economy was getting back on track.
Source: L.A. Times - Business | 3 Jul 2009 | 11:38 am New orders fall undermines services growthHopes that the economy is firmly on course to emerge from recession were given a further boost today as a key survey found renewed expansion in the crucial services sector for a second month in a row. Source: Latest Business News from Times Online | 3 Jul 2009 | 11:35 am London Markets: Reed Elsevier stars in quiet London tradeReed Elsevier on Friday stood out in a drab London market on Friday after Credit Suisse upgraded the European media sector and said the Anglo-Dutch company was one of its top picks.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 11:35 am Stock market investors keen to make the worst of the bad newsIt's hard to see some economic data as anything but ugly.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 11:34 am Major nations should back dollar as key currency: JapanTOKYO (Reuters) - Major countries should support the dollar as the key international currency, although emerging nations may discuss a new global reserve currency on the sidelines of the G8 summit next week, a Japanese official said on Friday.Source: Reuters: Business News | 3 Jul 2009 | 11:29 am Bank of Ireland margins coming under pressureBank of Ireland says its margins have come under further pressure in the last three months.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 11:26 am Global stocks dip as investors cautious on recovery (Reuters)
Source: Yahoo! News: Stock Markets News | 3 Jul 2009 | 11:22 am Global stocks dip as investors cautious on recovery (Reuters)
Source: Yahoo! News: Business | 3 Jul 2009 | 11:22 am Global stocks dip as investors cautious on recoveryLONDON (Reuters) - World stocks fell on Friday after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the global economy would be long and slow.Source: Reuters: Business News | 3 Jul 2009 | 11:22 am Billions in virtual cash stolen in online robberyDetails emerge of why billions in virtual cash disappeared from a virtual bank in Eve Online.Source: BBC News | Business | World Edition | 3 Jul 2009 | 11:22 am U.S. marshals seize Madoffs' $7 million NY apartmentNEW YORK (Reuters) - U.S. marshals seized the luxury $7 million New York City penthouse apartment of imprisoned fraudster Bernard Madoff and his wife, Ruth, officials said on Thursday.Source: Reuters: Business News | 3 Jul 2009 | 11:22 am Vauxhall's fate to be revealed within weeks Lord Mandelson saysLord Mandelson says he expects to see a draft business proposal from Vauxhallsuitors Magna within the next two weeks.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 11:22 am Europe Markets: European shares weaken as miners weighEuropean shares trade lower on Friday.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 11:09 am Japan rethinks silent hybrid carsJapan considers adding noise-making devices to quiet hybrid cars to improve safety for blind pedestrians.Source: BBC News | Business | World Edition | 3 Jul 2009 | 11:01 am American Dreaming
"4 Sale by Owner" -- as found on Main Street in Grand Junction, Colorado. Stephanie Walker Folks, we're off for the July Fourth holiday. We wish you iced tea and fireworks, and whatever American dream makes most sense to you. (Thanks to Stephanie Walker of Love in the Time of Foreclosure for the picture, which she took with her husband on their way to move in with her parents for a while.) » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 3 Jul 2009 | 10:58 am Unions lobby Mandelson to keep Vauxhall safeLord Mandelson will today come under renewed pressure from the UK's biggest union to shore up the future of 5,000 Vauxhall car and van workers at factories in Ellesmere Port, Cheshire and Luton. Source: Latest Business News from Times Online | 3 Jul 2009 | 10:52 am European stocks extend losses (AFP)
Source: Yahoo! News: Stock Markets News | 3 Jul 2009 | 10:49 am UK homeowners pay back a record £8.1bn of mortgage debtUK homeowners repaid a record amount of mortgage debt in the first quarter of the year in the latest sign that the credit crunch is forcing Britons off a decadelong spending splurge.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 10:42 am Apple (AAPL) iPhone Bests Palm (PALM) PrePre sales have to keep a very brisk pace for Palm (PALM) to continue it turnaround. Many experts believe that consumer will make a decision to buy the Pre in lieu of the Apple (AAPL) iPhone or RIM (RIMM) Blackberry. New data fromConsumer Reports shows that the Pre may be a tough sell In its latest [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 10:41 am Darling warns banks of return to risk-takingAlistair Darling has warned that he will impose tougher regulation to avoid a repeat of the banking crisis amid fears of a return of the bonus-driven, risk-taking culture in the City. Source: Latest Business News from Times Online | 3 Jul 2009 | 10:41 am Britons pay-off record £8.1bn on mortgagesUK homeowners paid back a record £8.1 billion on their mortgages in the first three months of this year, as Britons took advantage of historically low interest rates to pay down debt. Source: Latest Business News from Times Online | 3 Jul 2009 | 10:32 am Eurozone retail sales post fallRetail sales in the eurozone fell more than expected in May, a further sign of the slowing economy, data shows.Source: BBC News | Business | World Edition | 3 Jul 2009 | 10:31 am Mortgage repayment quickensHomeowners in the UK paid back a record amount of their outstanding mortgage debt during the first three months of 2009.Source: BBC News | Business | World Edition | 3 Jul 2009 | 10:28 am Clearing key to making derivatives safer: EUBRUSSELS (Reuters) - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps.Source: Reuters: Business News | 3 Jul 2009 | 10:22 am Give Madoff Some Cellmatesby Antoinette Geyelin So, Mr. Bernard Madoff is going to jail for 150 years. Seems like a fairer sentence than the twelve his lawyers asked for. But you know what? I don’t think he should be there alone; I think he should have some company. Quite a lot of company in fact. Who should be there with [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 10:19 am Toto, I don’t think we’re in Kansas anymore…By Kathleen Rogers The state of California may soon issue IOUs to its business vendors, students awaiting financial aid payments, and taxpayers expecting refund checks. When I first read this story, I had to check the calendar – was it April 1? No, this April Fool’s joke is exactly three months late. I am reminded of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 10:16 am China Chases More Oil Assets (SNP)(RTP)China is scouring the world for oil assets as its expanding economy needs more crude to fuel its transportation and infrastructure needs. The world’s most populous nation is close to a deal to loan Brazil oil giant Petrobras $10 billion for off-shore drilling. The deal would help China lock-up over 100,000 barrels of crude a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 10:14 am Rogue trades cost oil broker $10mA rogue trader at a London-based oil brokerage causes his employer to lose $10m (£6m) after making unauthorised trades.Source: BBC News | Business | World Edition | 3 Jul 2009 | 10:13 am Union raps Tesco over meat firmsTesco shareholders are facing a call to end "exploitation and discrimination" affecting workers in firms that supply meat to the supermarket group.Source: BBC News | Business | World Edition | 3 Jul 2009 | 10:12 am CEOs use Obama visit to press Russia on rule of lawMOSCOW (Reuters) - U.S. businessmen are expected to use a Russia-U.S. business summit on Tuesday to press Moscow to rein in corruption and improve conditions for western companies operating in the country.Source: Reuters: Business News | 3 Jul 2009 | 10:09 am Regulators eye Google book dealUS anti-trust regulators are to examine Google's $125m deal with book publishers to settle copyright issues, reports say.Source: BBC News | Business | World Edition | 3 Jul 2009 | 10:00 am Fifty-Two Banks May Have Closed, But Where Are The Rest?Nouriel Roubini told Barron’s almost a year ago that1,400 US banks would fail due to the collapse of the credit markets. RBC Capital made a similar estimate. As it turns out, 2009 is only half over and only 52 banks have closed including seven that were announced yesterday. No major US financial firm has closed down. A [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 9:54 am Asia slips on U.S. jobs data, but off session lowsMost Asian markets close lower Friday after paring early losses.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 9:53 am Rio wraps up rights issueSYDNEY (Reuters) - Global miner Rio Tinto wrapped up one of the world's biggest rights issues on Friday, saying its Australian shareholders had taken up 94.76 percent of their entitlements to the new shares.Source: Reuters: Business News | 3 Jul 2009 | 9:46 am World markets slide on grim US jobs report (AP)
Source: Yahoo! News: Stock Markets News | 3 Jul 2009 | 8:58 am Media Digest 7/3/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: Smart investors are starting to cherry pick stocks. Reuters: California may agree on a budget to stop using IOUs. Reuters: Some stock funds are still making up for lost ground. Reuters: The US housing market may be in early recovery. Reuters: US unemployment spiked in June. Reuters: Rio Tinto (RTP) wrapped up its rights offering. Reuters: J&J (JNJ) bought a $1 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Jul 2009 | 8:58 am Earnings to set tone for stocks in week aheadNEW YORK (Reuters) - With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors should have in an economic recovery.Source: Reuters: Business News | 3 Jul 2009 | 8:54 am Major nations should back dollar as key currency: Japan (Reuters)
Source: Yahoo! News: Business | 3 Jul 2009 | 8:51 am European stocks rise at open (AFP)
Source: Yahoo! News: Stock Markets News | 3 Jul 2009 | 8:50 am Ruth Madoff forced out as US marshalls seize family penthouse and possessionsFederal marshals have seized disgraced financier Bernard Madoff's 7m Manhattan penthouse and forced his wife to move out and leave her possessions behind.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 8:40 am Meg Matthews the former wife of Noel Gallagher on fame and fortuneMeg Matthews married Noel Gallagher of Oasis in 1997 and divorced in 2001 for a settlement estimated at £4m.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 8:37 am Rio wraps up rights issue (Reuters)Reuters - Global miner Rio Tinto wrapped up one of the world's biggest rights issues on Friday, saying its Australian shareholders had taken up 94.76 percent of their entitlements to the new shares.Source: Yahoo! News: Business | 3 Jul 2009 | 8:27 am Any UK economic optimists need to look just 21miles awayThe Bank of England's David Miles expects that house prices have seen the worst and that there are enough independent signals to indicate that the economy is in a position to grow into 2010.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 8:20 am Comment: problems keep mounting up for Keydata investorsThe scandal surrounding Keydata Investment Services deepened last week. Even the administrators admitted "we weren't expecting to find what we did when we went in there".Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 8:14 am 20 of the best freebiesThere are plenty of freebies to be had all it takes to get your hands on it is a little time and effort.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 8:04 am Alistair Darling on bankers' pay the bonus culture and the recessionAlistair Darling the Chancellor of the Exchequer is due to produce a White Paper next week setting out how banks will be regulated in future. In interview with the Independent Mr Darling sets out his views on:Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Jul 2009 | 7:38 am GM awaits US ruling on sale plansA new General Motors could emerge from bankruptcy protection soon if a US judge approves its plans to sell assets.Source: BBC News | Business | World Edition | 3 Jul 2009 | 7:18 am Hyundai Genesis coupe is more primitive than primThe sports car certainly has some asphalt chops and a solid rear-wheel drive. That said, there's room for improvement. Let's start with its unattractive look, shall we? ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Jackson concert promoter AEG may still make moneyL.A.-based AEG invested $25 million to $30 million in the pop star's comeback. But insurance, a commemorative ticket and rehearsal footage may instead prove profitable.Michael Jackson's death stunned the Los Angeles-based concert promoter shepherding his most recent comeback, but what first seemed a devastating financial blow could turn into an unexpected boon.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am Wall Street awaits California's short-term borrowing plansThe state's budget crisis is likely to make financing to bridge the gap between current cash needs and future tax revenue more complicated and expensive. ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Hyundai advances cash to car dealers for 'clunkers' programThe government hasn't yet finalized the rules of 'cash for clunkers,' which will give people credit toward a new car in exchange for an old gas guzzler. ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Recession-fed tensions grow in luxury hotel industryOwners and managers are at odds over how much to spend on keeping up deluxe properties, where bottom lines are suffering as travelers scale back.At the tranquil Four Seasons Resort Aviara north of San Diego, a heated struggle for control of the deluxe hotel's future is playing out in a rare public spat.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am USDA organic label comes under fireLax agency standards mean that consumers aren't always buying foods without pesticides and other chemicals that were produced in environmentally friendly ways, consumer advocates and lawmakers say. ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Home-buyer tax-credit program cut off by stateREAL ESTATE
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am Radio stations step up battle against Performance Rights ActFor more than 80 years, commercial stations have aired songs without paying royalties to musicians, but a bill making its way through Congress would change that. ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Radio stations step up battle against Performance Rights ActFor more than 80 years, commercial stations have aired songs without paying royalties to musicians, but a bill making its way through Congress would change that.Broadcasters call the Performance Rights Act a tax. To the music industry, it's more like a royalty fee. But the legislation, which is gaining momentum in both the House and the Senate, is making radio stations nervous.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am IPhone 3GS owners bemoan its battery lifeBuyers are finding that the device has trouble making it through a workday without a rest stop at the electrical outlet.The new, high-octane iPhone 3GS is loaded with features that could light up your life -- but its battery isn't one of them.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am Wall Street headhunter becomes a hand-holderLaid-off executives, investment bankers and hedge-fund wizards look to Jeanne Eslinger Branthover for golden jobs. She used to be flush with multimillion-dollar offers. Now she doles out sympathy.Jeanne Eslinger Branthover leans in and listens intently as a laid-off Wall Street executive describes how she's coping in a miserable job market.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am Hyundai Genesis coupe is more primitive than primThe sports car certainly has some asphalt chops and a solid rear-wheel drive. That said, there's room for improvement. Let's start with its unattractive look, shall we?In the beginning, there was Hyundai, and it was without form, and darkness was upon the face of the brand.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am USDA organic label comes under fireLax agency standards mean that consumers aren't always buying foods without pesticides and other chemicals that were produced in environmentally friendly ways, consumer advocates and lawmakers say.Three years ago, U.S. Department of Agriculture employees determined that synthetic additives in organic baby formula violated federal standards and should be banned from products carrying the federal organic label. Today those same additives, purported to boost brainpower and vision, can be found in 90% of organic baby formula.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am Wall Street awaits California's short-term borrowing plansThe state's budget crisis is likely to make financing to bridge the gap between current cash needs and future tax revenue more complicated and expensive.Wall Street is looking forward to learning California's short-term borrowing plans -- once Sacramento produces a fiscal 2010 budget more or less in balance.
Source: L.A. Times - Business | 3 Jul 2009 | 7:00 am Jackson concert promoter AEG may still make moneyL.A.-based AEG invested $25 million to $30 million in the pop star's comeback. But insurance, a commemorative ticket and rehearsal footage may instead prove profitable. ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Johnson & Johnson to take stake in ElanThe firms will work jointly on Alzheimer's drugs and a vaccine. Johnson & Johnson, making a big jump into...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Grim U.S. jobless numbers damp economic recovery hopesThe loss of 467,000 jobs in June is far more than expected, and reverses a trend in which the monthly losses had been steadily shrinking from a January peak. ...Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Home-buyer tax-credit program cut off by stateREAL ESTATESource: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am Stocks fall as June job losses exceed estimatesMajor stock indexes tumbled more than 2.6% on Thursday, with the Dow Jones industrials falling to a six-week low, on news that employers last month cut far more jobs than expected.Source: RSS feed - channel BNPaperBusiness | 3 Jul 2009 | 7:00 am PBOC chief says China is saving too muchChina’s central bank governor says that more domestic consumption is needed in light of the nation’s high savings rate, and that some of the excess savings should be channeled to emerging markets, reports say.
Source: MarketWatch.com - Top Stories | 3 Jul 2009 | 6:51 am More backing for Rio cash-raisingA Rio Tinto rights issue sees strong take-up from existing holders of its Australian-listed shares - after similar UK success.Source: BBC News | Business | World Edition | 3 Jul 2009 | 6:49 am NZ stocks: Market continues to drift lowerThe New Zealand sharemarket continued to drift lower today with good volume in Fletcher Building shares again a feature. The benchmark NZSX-50 index closed down 6.68 points, or 0.241 per cent, at 2761.505, on top of yesterday's...Source: New Zealand Herald - Business | 3 Jul 2009 | 6:15 am Currency: Dollar weaker on poor US job statsThe New Zealand dollar weakened to a10-day low today after the US dollar rose overnight on bleak US jobs data. By 5pm the NZ dollar was buying US62.98c, having dipped to US62.59c, its lowest since June 23, from US63.79c at 5pm...Source: New Zealand Herald - Business | 3 Jul 2009 | 6:05 am Vacation savings: Are we there yet?Travel-book publisher Pauline Frommer talks with host Stacey Vanek-Smith about where good vacation deals can be found this summer. And Stacey looks into what it costs to camp.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Very different states of unemploymentHow much money people get in their unemployment checks -- and even whether they're eligible for jobless benefits -- depends a lot on where they live. Mitchell Hartman reports.Source: Marketplace Money | 3 Jul 2009 | 5:01 am How I'm helping the economy . . .The Fourth of July is all about getting into the patriotic spirit. For some, that can include how you spend your money. Here are some thoughts on spending to serve your country.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Going abroad for internshipsThe financial crisis is making it harder for students and recent grads to get internships they need to build their resumes. So, many young Americans are looking overseas for opportunity. Gretchen Wilson reports from South Africa.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Day in the Work Life: Uncle SamWe hear from a man who takes his red, white and blue very seriously.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Copywriter pitches himself for new jobsMore than 32,000 advertising jobs have been wiped out from targeted Internet ads and the recession. To get back into the job market, some are taking unconventional approaches. Steve Henn talked to one copywriter who exposed himself for shock value.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Straight Story: Financial independenceMarketplace Money Economics Editor Chris Farrell give his views on what it means to have financial freedom.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Getting PersonalHost Stacey Vanek-Smith and Economics Editor Chris Farrell answer listeners' questions about annuities, affording a seaside condo, timeshare properties, and secured credit cards.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Imagine a world without credit cardsWhat would happen if we all cut up our plastic and switched to cash? Sean Cole reports on a hypothetical world without credit cards.Source: Marketplace Money | 3 Jul 2009 | 5:01 am Seven banks fail, pushing 2009 tally to 52Seven banks were shut down by authorities Thursday, pushing the tally of failed banks for 2009 to 52, more than doubling the failures in 2008.Source: Business and financial news - CNNMoney.com | 3 Jul 2009 | 4:29 am The public-vs.-private health care battleAs Congress prepares to do battle over health reform, a parallel dispute is shaping up among small-business groups that are staking out opposing positions on a key element of reform proposals: whether Uncle Sam will take on a bigger role in offering insurance coverage or leave the field to the private market.Source: Business and financial news - CNNMoney.com | 3 Jul 2009 | 3:33 am First loss recorded for Sth Canty FinanceShareholder and chairman Allan Hubbard is putting $40 million of new capital into South Canterbury Finance and will provide further support if required. South Canterbury Finance has been the subject of speculation about its exposure...Source: New Zealand Herald - Business | 3 Jul 2009 | 3:04 am Broadband performance improving, says CommissionNew Zealand's broadband performance improved moderately in the March quarter, the latest quarterly report on broadband quality prepared for the Commerce Commission shows. At the same time, congestion in key portions of the network...Source: New Zealand Herald - Business | 3 Jul 2009 | 2:30 am Web retailers, states tussle over tax rules (AP)AP - In a big break for online shoppers, Web retailers generally don't have to charge sales taxes in states where they lack a store or some other physical presence.Source: Yahoo! News: Business | 3 Jul 2009 | 1:07 am US bank buy-outs get tougherPrivate equity groups that want to buy troubled banks would have to meet significant capital requirements and promise not to 'flip' their investments for at least three years under new proposals by US regulators seeking to attract money into the ailing industrySource: Financial Times - US homepage | 3 Jul 2009 | 12:37 am Don't read too much into better Govt accountsThe Government's fiscal position was better than forecast in May but Finance Minister Bill English has warned people not to read too much into it. The operating balance for the 11 months to May 31 was a deficit of $7.16 billion,...Source: New Zealand Herald - Business | 3 Jul 2009 | 12:06 am US advertisers act on privacy fearsThe US advertising industry moved to try to head off the growing threat of legislative action over so-called behavioural targeting, a form of internet advertising that critics complain could violate the privacy of internet usersSource: Financial Times - US homepage | 3 Jul 2009 | 12:04 am The Beauty Of Wall St: One Rogue Trader Can Still Move A MarketThe notion of regulating risk and behavior on Wall St. was given another stunning blow today as the FT reported that one rogue broker cause a spike in oil prices earlier this week. The paper wrote “PVM Oil Associates, the world’s largest over-the-counter oil brokerage, said it had been the “victim of unauthorised trading”. Oil inexplicably [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 Jul 2009 | 11:34 pm US and Russia square up over missile shieldThe US and Russia are digging in for a fight over plans for missile defence bases in eastern Europe before next week's summit between Barack Obama and Dmitry MedvedevSource: Financial Times - US homepage | 2 Jul 2009 | 11:11 pm 'Golden Autumn' continues for Auckland house sales: BarfootsAuckland's biggest real estate firm says the region's "golden autumn" for property sales continued through June, with sales up 5.8 per cent from the month before, and 54.9 per cent on the same month last year. The company sold...Source: New Zealand Herald - Business | 2 Jul 2009 | 11:03 pm Earnings to set tone for stocks in week ahead (Reuters)
Source: Yahoo! News: Business | 2 Jul 2009 | 11:02 pm Earnings to set tone for stocks in week ahead (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Jul 2009 | 11:02 pm Chinese talk to Repsol about Argentine armSpanish oil company and two biggest mainland oil groups in talks over possible asset purchases and joint venturesSource: Financial Times - US homepage | 2 Jul 2009 | 10:38 pm Jobless data sends stocks reeling; Dow loses 223 (AP)
Source: Yahoo! News: Business | 2 Jul 2009 | 10:37 pm Jobless data sends stocks reeling; Dow loses 223 (AP)
Source: Yahoo! News: Stock Markets News | 2 Jul 2009 | 10:37 pm NZ shares: Moderate early fall on local marketThe New Zealand sharemarket managed to record only moderate losses in early trading, after stock exchanges in the United States and Europe tumbled overnight. Around 10.15am, the benchmark NZX-50 index was down 6.85 points to 2761.33,...Source: New Zealand Herald - Business | 2 Jul 2009 | 10:34 pm Cash-poor California turns to IOUsHere come the California IOUs.Source: Business and financial news - CNNMoney.com | 2 Jul 2009 | 10:07 pm Bank vaults slammed shut to small businessesDespite emergency stimulus measures, small business lending continues to fall. In the just-ended quarter, the Small Business Administration's flagship program backed 30% fewer loans than it did a year ago, and 55% fewer loans than it did in 2007, before the recession set in.Source: Business and financial news - CNNMoney.com | 2 Jul 2009 | 10:02 pm Closure of tissue plant puts 118 jobs at riskNew Zealand's biggest supplier of tissue products is to close its Auckland factory, putting the jobs of 118 workers at risk. SCA Hygiene, which produces material for the brands Sorbent, Purex, Handee and Treasures, told employees...Source: New Zealand Herald - Business | 2 Jul 2009 | 10:00 pm Health reform: Will companies flee?It is one of the touchiest issues in the health care debate: Would a government-run health plan upend the employer-based health insurance system used by 160 million Americans?Source: Business and financial news - CNNMoney.com | 2 Jul 2009 | 9:59 pm Stimulus: The cost of high-speed railPresident Obama is pouring $13 billion into an ambitious high-speed rail project. Some say it will never make money. Some say it will. And still others say profit is not even the point.Source: Business and financial news - CNNMoney.com | 2 Jul 2009 | 9:58 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 | 2 Jul 2009 | 9:52 pm Bleak payrolls report mauls Wall St; volume thin (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Jul 2009 | 9:47 pm Pressure mounts on dairy, as prices fall and dollar stays highPressure is mounting on the dairy sector as commodity prices fall and the New Zealand dollar sits north of US60c. Average prices for whole milk powder at Fonterra's monthly online auction yesterday were down 3 per cent on June,...Source: New Zealand Herald - Business | 2 Jul 2009 | 9:30 pm The Cars Are Still ComingLast week I spent a day at the Port of Tacoma watching a bunch of longshoremen unload a ship full of 700 Kias. These guys race the cars off the boat one by one. Then they drive them to an enormous parking lot about a half a mile away, where the cars sit and wait for their next stop. These days that wait is much longer than usual. The port tells me that Kia sends cars ahead of its orders, so these cars aren't necessarily spoken for. I rode along in one as it was off-loaded -- just once.That was enough. It felt sort of like being on a race track. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Jul 2009 | 9:11 pm Currency: Dollar falls further after poor US job statsThe New Zealand dollar fell to 10-day lows against the currencies of the United States and Japan, and to a three-week low against the euro, and further moves lower are thought likely. By 8am the NZ dollar was buying US62.93c, having...Source: New Zealand Herald - Business | 2 Jul 2009 | 9:06 pm Sparks still fly in a recessionNever mind the headlines -- for some fireworks companies, there's no slump.Source: Business and financial news - CNNMoney.com | 2 Jul 2009 | 8:53 pm Jobs data dash recovery hopesThe US economy shed another 467,000 jobs last month, signalling aggressive government stimulus measures are failing to unshackle the labour force from the grips of the recession, official figures showedSource: Financial Times - US homepage | 2 Jul 2009 | 8:49 pm Small talk: Medi-meals, porn, McClassesMarketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers George Judson, Rod Abid and Stacey Vanek-Smith about under-the-radar business stories: A medical-themed restaurant, China's porn-blocking glitch, and corporate-sponsored college classes.Source: Marketplace | 2 Jul 2009 | 8:45 pm Schwarzenegger puts case for IOUsArnold Schwarzenegger has made a personal overture to the heads of America's largest banks to persuade them to accept the thousands of IOUs being issued by California in lieu of cashSource: Financial Times - US homepage | 2 Jul 2009 | 8:35 pm Thoma Says Fiscal Policy Needs 6 to 9 Months to Take EffectSource: Bloomberg - All Podcasts | 2 Jul 2009 | 8:35 pm Business Pundit in July
Business Pundit will be a little different in July. I’m going to spend the next couple of weeks sitting on an inflated device one mile beneath the earth. This is otherwise known as rafting the Grand Canyon, a once-in-a-lifetime trip that I was lucky enough to land a spot on this year. As a result, I won’t be blogging as regularly as I usually do, at least for a couple of weeks. During this time, Business Pundit will still feature original daily posts, mostly of Listmania persuasion, and a few interviews. I will be back towards the end of July. At that time, I hope to find a media landscape full of positive business news and devoid of celebrity deaths. If I do in fact find such a landscape, I will realize my dire navigational error and return to America ASAP. Have a kickin’ 4th of July weekend. I’ll see you on the other side. -Drea
Source: Business Pundit | 2 Jul 2009 | 8:27 pm Bernstein Says U.S. Job Losses Slow, Economy Still in RecessionSource: Bloomberg - All Podcasts | 2 Jul 2009 | 8:16 pm Jane Bryant Quinn Sees Consumers Devoted to Lower Personal DebtSource: Bloomberg - All Podcasts | 2 Jul 2009 | 7:49 pm IMF Bonds (!!!!)I put the exclamation points there because, OK, it sounds dull. Bonds, you think, are dull. International Monetary Funds, probably more so. But this is one of those stories that brushes up against the profound. The news: The International Monetary Fund has decided to issue what could be $70 billion dollars worth of bonds. It's the first time the IMF has raised money through bonds. The fund has been short of cash to lend out because of the financial crisis. The interesting bit: The bonds are denominated in a kind of synthetic currency called Special Drawing Rights (SDRs). SDRs are used internally at the IMF as units of account. But China has proposed turning them into a new kind of global currency that could one day replace the dollar's central role. The IMF's official position: "The dollar is the principal reserve currency in the global economy and will remain so as far as we can see." We'll have a story on All Things Considered tonight, with commentary from Eswar Prasad who used to run the IMF's China division. About the bonds, he writes "A Win-Win Proposition? Almost, but Not Quite" » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 2 Jul 2009 | 7:27 pm 'Rogue broker' blamed for oil spikeTraders said the broker implicated had allegedly accounted for at least half of the unusual market activity, with the rest the result of others chasing the rapid risesSource: Financial Times - US homepage | 2 Jul 2009 | 7:26 pm German “Geritol Gang” Tortures Financial Advisor Who Lost Their SavingsThe Sydney Morning Herald reports on a gang of German senior citizens who kidnapped and tortured their financial adviser: A group of wealthy pensioners has been accused of kidnapping and torturing a financial adviser who lost about $4 million of their savings. The pensioners, nicknamed the “Geritol Gang” by German police after an arthritis drug, face up to 15 years in jail if found guilty of subjecting German-American James Amburn to the alleged four-day ordeal. Two of them are said to have hit him with a Zimmer frame outside his home in Speyer, western Germany, before he was bound with duct tape, bundled into the boot of an Audi A8 and driven 300 miles (483 kilometres) to a home on the shores of a popular holiday lake in Bavaria. During his alleged confinement in an unheated cellar, Mr Amburn, 56, claims he was burned with cigarettes, beaten, had two ribs broken, was hit with a chair leg and chained up “like an animal”. Armed commandos stormed the house in the early hours of Saturday morning. Forty police, accompanied by a doctor in the light of the captors’ infirmities, found Mr Amburn in his underwear.
Source: Business Pundit | 2 Jul 2009 | 6:52 pm Gartman Sees No Transparency in Private Equity MarketSource: Bloomberg - All Podcasts | 2 Jul 2009 | 6:52 pm Glassman Says U.S. Unemployment Rate Rising at Slower RateSource: Bloomberg - All Podcasts | 2 Jul 2009 | 6:50 pm Cochrane Sees Flexibility, Mobility in U.S. Labor MarketSource: Bloomberg - All Podcasts | 2 Jul 2009 | 6:49 pm O'Sullivan Sees U.S. Unemployment at 9.7% by End of YearSource: Bloomberg - All Podcasts | 2 Jul 2009 | 6:48 pm Microsoft and Facebook race to real timeThe race among some of the biggest online companies to reveal more of the instant opinions and information flooding across the internet in real time has intensified, with Microsoft and Facebook each announcing important initiatives in recent daysSource: Financial Times - US homepage | 2 Jul 2009 | 6:21 pm Write-Offs: 07.02.09$$$ US Marshals Seize Madoff Penthouse Property [CBS] $$$ Sir Stanford's request to unfreeze funds for legal fees denied [FTAlphaville] $$$ Comment(s) of the Day: Posted by guest, Jul 02, 2009 11:37AM The high collar says "I'm a sophisticated lady," but the low cut screams "put it between the bags." And the response: Posted by guest, Jul 02, 2009 11:39AM @15 you think theyre big enough to TF? Looks like she might need to use the hand bridge. $$$ Job of the Week: A hedge fund is looking for a "brilliant junior programmer." You. [DB Career Center] $$$ SlimJim Factory Explosion Causes Shortages Nationwide [NYP] $$$ "Around October, when the economy went into free fall, a bunch of out-of-work finance guys in their 20s descended on Buenos Aires, where you can have the penthouse, the steak dinners and the bottle service at ridiculous nightclubs and still save money renting out your apartment in New York or London. Lifestyle arbitrage, baby! The word got out, and the party built on itself, making the fantasy it offered all the more intoxicating: Come spend a month--or four--in Buenos Aires, where you really are a master of the universe, where nights are sleepless and potential business deals are all scams and the clubs teem with unemployed expat bankers looking for their identities in piles of cocaine and the bloodshot eyes of hookers and thieves." [Playboy] $$$ That's it for us today. We're off tomorrow, have a great weekend, Happy Fourth and if you happen to find yourself setting off illegal fireworks with Cliff Asness, we want to know! 
Sponsored Topics: Buenos Aires - New York - Argentina - London - CBS Source: Dealbreaker | 2 Jul 2009 | 6:15 pm Dear Third Point People
Sponsored Topics: United States - California - Society and Culture - Arts - Scotland Source: Dealbreaker | 2 Jul 2009 | 6:00 pm Bonus Watch '09: CitiSupposedly Citi 2nd year second tier S&T analysts are "pulling" 60k bonuses. For those keeping track at home and believing these numbers, this would be in line with the $42k goody-bags being awarded to the Big C's second tier first year rainmakers.
Sponsored Topics: Citibank - Business - Bank of America - Sports - Bank Source: Dealbreaker | 2 Jul 2009 | 5:47 pm Corruption rampant in oil-rich KurdistanOil companies are cautiously gearing up to tap Kurdistan's massive oil fields. But they could hit some roadblocks from the country's high-level corruption, which is commonplace. Reese Erlich reportsSource: Marketplace | 2 Jul 2009 | 4:49 pm The science of airplane interior designAirplane designers are finding ways to squeeze in as many seats as possible to sell more tickets. Kai Ryssdal talks to Paul Wylde about the science, and economics, behind airplane designSource: Marketplace | 2 Jul 2009 | 4:49 pm Weekly Wrap: What have we learned?Reuters blogger Felix Salmon and freelance business writer Heidi Moore talk with Kai Ryssdal about the poor job numbers, banks' toxic assets and the state of the economy halfway through 2009.Source: Marketplace | 2 Jul 2009 | 4:49 pm Was the American Revolution worth it?Back in 1776, the fight against taxation without representation led to the Revolutionary War and eventually America's independence from Britain. Economist Kevin Hassett wonders if it was worth it in the long run.Source: Marketplace | 2 Jul 2009 | 4:49 pm GM plans 'toxic' clearance saleThe bankrupt carmaker is cleaning out its garage in an effort to form a new, pared-down company. But bondholders are fighting over which assets will stay and which will get offered to outside buyers. Jeremy Hobson reportsSource: Marketplace | 2 Jul 2009 | 4:48 pm Banks fear counterfeit California IOUsAs California begins issuing IOUs, banks are worried that counterfeit notes may become a big problem. But the state insists fraud protection efforts are in place. Sarah Gardner reports.Source: Marketplace | 2 Jul 2009 | 4:48 pm Euro countries face similar job crisisThe U.S. isn't the only country reeling from grim unemployment numbers. Workers in the 16 countries that use the euro are also feeling the effects of the global recession. Stephen Beard reports.Source: Marketplace | 2 Jul 2009 | 4:48 pm Citi Gives GE The Heisman
TAKING NO CREDIT [NYP]
Sponsored Topics: Credit card - Business - Citibank - NBC - Jeffrey R. Immelt Source: Dealbreaker | 2 Jul 2009 | 4:46 pm Swine Flu At Deutsche Bank? (UPDATE)As previously mentioned, at least one Citi employee has caught the pig sniffles. Apparently the Germans may have also gotten in on the fun. One entire section of the trading floor has been converted into a "bubble boy" type facility. No word on moops or which specific desk went on a Mexican bender. Update: Not sure who your sources are for you posts on the swine flu, but there is no "bubble" on our trading floor. Our floors look the same, and are operating the same, as they normally do.
Sponsored Topics: Mexico - Swine influenza - Deutsche Bank - Germans - Influenza Source: Dealbreaker | 2 Jul 2009 | 4:40 pm Presented By:Source: Dealbreaker | 2 Jul 2009 | 4:40 pm Vaccines Are a Growth Industry Novavax, Inc. announced today that it plans to license its vaccine technology to Spanish pharmaceutical company ROVI, who will use it to develop pandemic and seasonal flu vaccines (including one for novel H1N1). ROVI will also establish Spain’s only in-border vaccine production facility. This 60 million-euro program is sponsored and led by the Spanish Ministry of Health , is slated to eventually serve the entire population of Spain. Swine flu aside, the whole business of public-private funding and the process it takes to get vaccines to the mass market is interesting stuff, and you can read more about it in the press release here. I’m am just struck by this comment:
Doesn’t it just give you a tiny heebee geebee that the potential for large scale loss of human life is good for business? I hate that. Image Credit: lauren nelson, Flickr
Source: Business Pundit | 2 Jul 2009 | 4:40 pm CNBC (Wardrobe Department) Has Heeded Your Call For More Amanda Drury
Sponsored Topics: United States - Canada - Crack cocaine - Police - Misdemeanor Source: Dealbreaker | 2 Jul 2009 | 4:15 pm An Unusual RequestI got this email yesterday and worried I might be being set-up for some Borat movie. Dear Editor in Chief As an actor who has played the role of Mustafa Kemal Ataturk in 6 Films in Turkey, I would like to make an interview with your newspaper by e-mail Information about myself is given below. Sincerely yours Yavuz HEKYM Our email exchange follows:
What would you want to talk about?
Busines and Acting movies, best regards
What does Prefabricated-Metal Building mean? What do you do?
prefabricted building and motor yacht manufacturing or acting atesshment pls
Thanks. And how did you hear about us? From: Yavuz Hekim your email adress searc internet to find... your radio ...nationa rubibli radio
How is your yacht manufacturing business doing in this global recession?
no,bed yacht manufacturing yes,recession....favori buzines now acting and prefabricated building... Postscript: Yavuz was kind enough to send this article from the Tripoli Post, if you'd like to know more. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Jul 2009 | 4:13 pm A Startling Stop In Portland
All quiet in downtown Portland. Andy Davenport Andy writes: This is the Park Avenue West building in Downtown Portland, whose construction was halted around two months ago. My office overlooks this site on two sides of the building, According to this article in the Oregonian, this building was originally scheduled to be 32 stories of mixed business and condos. Construction is halted until next year, and the plans are to cut the building to 22 stories. Equally amazing is the location - this site is located just two blocks from Pioneer Square, the heart and likely most-traveled area in downtown Portland. The unfinished building isn't just an eyesore -- Andy says it's also hurting nearby businesses. Bush Garden, a Japanese restaurant, has been in Portland for 30 years. Bush Garden is located adjacent to Park Avenue West, and the sign states that they are closing indefinitely due almost entirely to the construction making it difficult to pull in customers or provide parking. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Jul 2009 | 4:00 pm Alec Baldwin Takes Issue With Madoff Sentencing
Sponsored Topics: Raleigh North Carolina - American Legion - Leesville Road High School - United States - Organizations Source: Dealbreaker | 2 Jul 2009 | 3:33 pm Ireland's Economy Hit AgainIreland just had its government bond rating lowered one level by Moody's Investors Services -- to Aa1 from Aaa. The company also gave Ireland a "negative" outlook, meaning it's likely to decrease even more within in the coming months. Standard & Poor's has already downgraded its rating of Ireland twice this year, and Fitch knocked it down one level in April. Ireland's suffered one of the worst crashes since the recession began. After riding a huge boom for over a decade, empty houses litter the countryside and the country's deficit is set to rise to 10.8 percent of GDP -- three times the European Union limit. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Jul 2009 | 3:33 pm Bank CEOs Have A Lot To Learn About Spending Taxpayer MoneyIt's a now bit clearer why Congress was so pissed at corporate executives at bailed out institutions who used private jets to travel to their respective roasts. It wasn't because it was a misuse of taxpayer funds; it's because it was such a JV effort. During last year's financial meltdown, hundreds of lawmakers raided taxpayer coffers to the tune of $13 million for overseas travel. Among the critical issues that needed to be addressed in the midst of the crisis were: -Senator Daniel Inouye's 4-day trip to the Paris airshow last June. He and 6 other senators hitched a ride on the Air Force's version of a Boeing 737- which runs about $5700/hour to operate. -Rep. Brian Baird's 4-day trip last summer to the Galapagos Islands with his wife, four other lawmakers and their families. As everybody recalls, global warming was the real hot topic after Bear collapsed. -And then there was Nancy Pelosi this year. Before spending 1 day in Afghanistan visiting US troops, the Pelosi entourage spent 8 days preparing for the journey to Kabul by touring Italy racking up $58k on hotels and meals alone. Vik and Kenny take notice- the next time you have to appear in front of the taxpayer spending all-star team, at least do something like head to Washington via a 2-week stint in St. Barths under the guise of getting a feel for the Caribbean banking environment. Congress's Travel Tab Swells [WSJ]
Sponsored Topics: Air Force - Nancy Pelosi - Brian Baird - Afghanistan - Global warming Source: Dealbreaker | 2 Jul 2009 | 3:26 pm Silvia Sees Rising U.S. Unemployment Among College GraduatesSource: Bloomberg - All Podcasts | 2 Jul 2009 | 3:20 pm Nadler Sees Gold Between $730 and $1,030 Over Next 6 MonthsSource: Bloomberg - All Podcasts | 2 Jul 2009 | 3:12 pm Maisonneuve Sees Strong Consumer Growth in Emerging MarketsSource: Bloomberg - All Podcasts | 2 Jul 2009 | 3:05 pm Exelon sets out 'final' bid for NRGExelon increased its hostile bid for NRG Energy by 12 per cent to about $7.5bn and called the move its 'best and final offer'Source: Financial Times - US homepage | 2 Jul 2009 | 3:03 pm Sal Ferrara Takes on Kraft Foods
Crain’s Chicago Business has a sweet story about a potential Ferrara Pan Candy Co./Kraft Foods chocolate war: Feeling betrayed by Kraft Foods Inc. after the nation’s largest foodmaker killed a partnership with his family’s Ferrara Pan Candy Co., Mr. Ferrara plans to hit back. This fall, he’ll roll out a line of premium European-style chocolate designed to compete with Toblerone, the flagship Kraft candy bar his company distributed until last year. A 58-year-old who prefers handshake agreements to formal contracts, Mr. Ferrara isn’t fazed by taking on a bigger competitor with a better-known brand. Nor is he worried that his Forest Park-based company, maker of Lemonheads and Atomic FireBalls, has little experience making chocolate. In fact, he probably knows as much about Toblerone’s business as Kraft does. In two years of distributing Kraft’s European chocolates in the U.S., Ferrara Pan increased those brands’ sales by 150%, he says. That deal ended in December, just three months after Mr. Ferrara took an early-morning cell phone call. Northfield-based Kraft, he was told, wanted out of the distribution agreement. Mr. Ferrara was completely surprised — and clearly infuriated. “I was quite upset because we did a very good job — probably too good of a job,” he says. Mr. Ferrara didn’t stew for long. Shortly after, he determined to create a new specialty chocolate line to rival his former customer’s. He already had the salesforce and wholesale brokers — hired to serve the Kraft account — and quickly developed a new concept: the Ferrara, an angular bar of Belgian chocolate. Mr. Ferarra’s stick-it-to-the-man chest thumping will make Ferrara bars all the sweeter. I’m buying one.
Source: Business Pundit | 2 Jul 2009 | 2:55 pm Beacon’s $43 Million Loan, Possible Game-Changer (BCON)This morning we caught an alert for volume and trading activity at VSInvestor.com in Beacon Power Corporation because of a government award of a loan commitment. This has now been confirmed. Beacon announced that it has received a conditional commitment from the Department of Energy for a loan guarantee of approximately $43 million. Keep in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 Jul 2009 | 2:44 pm Four Ways Of Looking At The New Job Loss NumbersSeveral of you have asked whether today's report from the Bureau of Labor Statistics is good news or bad news. First, the good news, such as it is: The jobless rate for June ticked up by just .1 percent, to 9.5. The last report, for May, showed a jump of .5 percent. You can also consider the overall number of jobs lost last month. Economists had expected to see 365,000 jobs cut. Instead, employers canned 467,000 people. That's a gulp. Personally, I'm struck by how long people are remaining out of work -- a figure that has steadily increased with the recession. We're up to an average of 24.5 weeks for the average job search, two weeks longer in than last month's report. "[B]road job losses are effectively making unemployment a way of life for millions," the New York Times reports. That's pure misery on a Saltine cracker. You could also look at what's happening to wages, which are flat, flat, flat. Ian Shepherdson of High-Frequency Economics writes, "[O]minously, hourly earnings were unchanged for the second time in three months." He predicts, "Wages will soon be » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Jul 2009 | 2:36 pm OK! Magazine Michael Jackson Cover Goes Too FarOK! Magazine’s latest issue shows a post-heart attack Michael Jackson on the cover. Tabloid rags are always pushing past the fringes of decency to grab reader attention, but this goes too far. It would have been acceptable if Michael Jackson had survived. But please, OK! Mag, remember the man as he was in his glory days. What are your thoughts on this cover?
Source: Business Pundit | 2 Jul 2009 | 2:31 pm Someone's Going To Give Himself A Hernia
I'm Dennis Kneale, it is 8 o'clock on a Wednesday of the July 4th holiday weekend and the great recession is still over I started this anti recession rant one week ago and I'll tell you every day another new indicator of hope emerges to bolster my contrarian call This recession is ending right here right now We've got a couple more encouraging numbers today and I'll get to them in a moment but first I gotta say, ouch! Last night, on this show, I stirred up an angry hornets nest in the blogs You know when I criticized their mean-spirited negativity and bashed them for hiding behind the cowardly cloak of anonymity I called them dickweeds, a form of pondscum They have howled with outrage across the blogosphere Blog sites like Dealbreaker, Gawker, Huffington Post, Business Insider, Zero Hedge, Annuity IQ and more have incited an online mob to rush to their defense One result: when you enter my name into Google, 'dennis kneale cnbc' shows up first In the number two position, rising w a bullet 'dennis kneale idiot' 14,000 entries and counting
Sponsored Topics: Hernia - Surgery - Health - Conditions and Diseases - Digestive Disorders Source: Dealbreaker | 2 Jul 2009 | 2:00 pm Misguided Optimism in Double-Digit Unemployment RatesThe Labor Department has a slew of data on the employment front this morning. Actually, it is the unemployment front. The data for unemployment in June showed a rate of 9.5%. The bad news comes in the form of the change in non-Farm Payrolls, which came in at-467,000. Where this gets tricky is inside the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 Jul 2009 | 12:37 pm Next Time Your Restaurant Service Sucks, Try This
Source: Business Pundit | 2 Jul 2009 | 12:36 pm A Simple Economic FixThis is from an article in the St. Petersburg Times Newspaper on Sunday. The Business Section asked readers for ideas on, “How Would You Fix the Economy?” I think this guy nailed it! Dear Mr. President, Please find below my suggestion for fixing America ’s economy. Instead of giving billions of dollars to companies that squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the Patriotic Retirement Plan: There are about 40 million people over 50 in the work force - Pay them $1 million apiece severance for early retirement with the following stipulations: 1.) They MUST retire. Forty million job openings - Unemployment fixed. 2.) They MUST buy a new American Car. Forty million cars ordered - Auto Industry fixed. 3.) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed. It can’t get any easier than that! P.S. If more money is needed, have all members in Congress and their constituents pay their taxes …
Source: Business Pundit | 2 Jul 2009 | 11:58 am
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