World Business News Headlines for July 12, 2009

GM Europe may slip away from Magna

MAGNA’S grasp on General Motors Europe, the owner of Vauxhall and Opel, appeared to be slipping this weekend as it emerged that all three bidders for the group will be asked to present their plans to Barack Obama’s automotive task force at the end of the month.

Source: Latest Business News from Times Online | 12 Jul 2009 | 11:15 pm

Hedge fund star to launch new UK fund

LANSDOWNE PARTNERS, one of Mayfair’s largest hedge funds, is to open its doors to fund manager Patrick Degorce, a former French navy officer who split from the high-profile activist investor Christopher Hohn earlier this year.

Source: Latest Business News from Times Online | 12 Jul 2009 | 11:01 pm

Centrica told to pay 900p a share

SHAREHOLDERS in Venture Production, the North Sea oil and gas group under siege from Centrica, will demand at least 900p a share to accept a takeover, according to Venture chief executive Mike Wagstaff.

Source: Latest Business News from Times Online | 12 Jul 2009 | 10:53 pm

Jaguar poised to shut for the summer

EXECUTIVES at Jaguar Land Rover, the Midlands carmaker, are drawing up plans for an extended shutdown of its UK plants and a new round of staff layoffs as it struggles to cope with the slump in the world car market.

Source: Latest Business News from Times Online | 12 Jul 2009 | 10:27 pm

American account: Barack Obama’s cures may just kill any recovery

SOMETIMES we might be better off if this globalised world of instant communication were less global and less instant. This week we benefited, if that is the right word, from simultaneous news from London, England; Sun Valley, Idaho; Washington, DC; and L’Aquila, Italy. Integrating all of this information is no small feat.

Source: Latest Business News from Times Online | 12 Jul 2009 | 9:34 pm

CIA hires Wall Street talent

THE CIA is taking advantage of the financial meltdown to recruit a new generation of financially literate spies with a series of job ads targeting Wall Street workers.

Source: Latest Business News from Times Online | 12 Jul 2009 | 8:54 pm

Economic outlook: Tear up the rulebook, it's all about borrowing

If we didn’t know it before last week, we surely do now. The economic policy landscape has changed. People will have different views on the period before the summer of 2007 — the longest run of non-inflationary growth in the modern era — but we are not going back there, at least in terms of policy.

Source: Latest Business News from Times Online | 12 Jul 2009 | 8:51 pm

Guy Hands in £300m EMI crisis talks

THE private equity firm Terra Firma is in talks about a huge restructuring of the debt-laden music giant EMI.

Source: Latest Business News from Times Online | 12 Jul 2009 | 7:44 pm

Goldman Sachs bankers defy gloom with bonus bonanza

DOZENS of bankers at Goldman Sachs in London could be in line for million-pound bonus payouts following another bumper quarter of profits at the giant investment bank.

Source: Latest Business News from Times Online | 12 Jul 2009 | 7:38 pm

Revealed: £200,000 pay rise for chief of ailing BA pension fund

THE fund manager running British Airways’ troubled pension fund received a pay rise of nearly £200,000 last year, giving her a bigger wage than the airline’s finance director.

Source: Latest Business News from Times Online | 12 Jul 2009 | 7:03 pm

Venture rejects bid from Centrica

Shareholders in Venture Production want a "significantly higher" offer than the one made by British Gas-owner Centrica.
Source: BBC News | Business | World Edition | 12 Jul 2009 | 1:34 pm

Number of profit warnings 'falls'

Profit warnings by UK-listed firms fell in April-June to their lowest second quarter level since 2003, a report says.
Source: BBC News | Business | World Edition | 12 Jul 2009 | 1:32 pm

What's killing banks on Main Street

On just about every Friday afternoon, bank regulators announce the latest batch of bank failures...they've shuttered 52 so far this year and the pace could well pick up.
Source: Business and financial news - CNNMoney.com | 12 Jul 2009 | 1:30 pm

Uh oh. Here come the 'profit' reports

The spring stock market rally has lost momentum right as investors are primed to face another big hurdle: the start of the second-quarter reporting period.
Source: Business and financial news - CNNMoney.com | 12 Jul 2009 | 1:24 pm

UPDATE 1-Venture CEO tells Centrica to pay above 900p/shr

LONDON, July 12 (Reuters) - The chief executive of North Sea gas producer Venture Production said its shareholders were looking for "significantly in excess" of the 845 pence a share takeover offer made...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 1:12 pm

NewsWatch: Stocks hang hopes on tech, financials next week

Investors will key next week on earnings from techs and banks for hints of what to expect in the third quarter -- and how badly the recession hurt businesses in the second quarter.

Source: MarketWatch.com - Top Stories | 12 Jul 2009 | 1:00 pm

Israel Stocks: Israel stocks off; ICL hit after potash reports

Israel stocks declined, led lower by weakness in Israel Chemicals after reports that potash pricing had dropped in new contracts.

Source: MarketWatch.com - Top Stories | 12 Jul 2009 | 12:58 pm

Owner may open QE2 as floating hotel outside Dubai

The cash-strapped Dubai owner of the QE2 is weighing plans to open the British ocean liner as a floating hotel elsewhere in the Middle East or Africa rather than in the struggling Persian...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 11:32 am

RHJ to submit new, improved offer for Opel-paper

BERLIN, July 12 (Reuters) - Belgian holding company RHJ International is readying an improved offer for General Motors unit Opel which foresees preserving all of its German plants, a newspaper reported...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 11:20 am

Financial investors may buy Vattenfall grid-sources

*Vattenfall in exclusive talks to sell German grid- sources
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 11:05 am

Yahoo! (YHOO) Hold Huge Edge In Only Gaming: GSN Games, Spil Games, BetaWave

American are turning to cheap alternatives to expensive video games by finding interactive games online. These game are usually much less expensive to play that the ones consumers have to buy for Nintendo Wii, Sony (SNE) PS3s and Microsoft Xbox 360 consoles. That may be bad news for these video platform businesses, but it is [...]

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Source: 24/7 Wall Street | 12 Jul 2009 | 10:46 am

Ofra Strauss, Chairperson of Strauss Group's Board of Directors, and Gadi Lesin, President & CEO of Strauss Group, Presented Today the Strategy of Strauss Water

TEL AVIV, Israel, July 12 /PRNewswire-FirstCall/ -- Strauss Water will lead and manage the Strauss Group's water activity, becoming one of the Group's main...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 10:32 am

Geithner: Too soon to decide on more stimulus

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said it was too soon to decide whether the U.S. economy would need the help of a second round of government stimulus to recover from recession.

Source: Reuters: Business News | 12 Jul 2009 | 10:27 am

Geithner: Too soon to decide on more stimulus (Reuters)

Reuters - U.S. Treasury Secretary Timothy Geithner said it was too soon to decide whether the U.S. economy would need the help of a second round of government stimulus to recover from recession.
Source: Yahoo! News: Business | 12 Jul 2009 | 10:27 am

Israel '09 budget gap more than gov't view: report

Israel this week is likely to adopt its 2009-2010 budget, which will reflect estimated deficits of 7.8% and 4.5% of gross domestic product for the two years respectively, Barclays Capital said.

Source: MarketWatch.com - Top Stories | 12 Jul 2009 | 10:05 am

Economic Preview: Job concerns expected to weigh down retail sales

Consumers' job worries are expected to weigh down results of the government's upcoming retail sales report.

Source: MarketWatch.com - Top Stories | 12 Jul 2009 | 10:00 am

Australia warns of risks to delay in China spy case

PERTH/BEIJING (Reuters) - Australia warned China on Sunday of the risks to business confidence from the detention without charge of an Australian executive accused of stealing state secrets, and Chinese executives feared a wider purge.

Source: Reuters: Business News | 12 Jul 2009 | 8:15 am

Australia warns of risks to delay in China spy case (Reuters)

Reuters - Australia warned China on Sunday of the risks to business confidence from the detention without charge of an Australian executive accused of stealing state secrets, and Chinese executives feared a wider purge.
Source: Yahoo! News: Business | 12 Jul 2009 | 8:15 am

Toyota may shut GM venture in SF Bay Area: Journal

Toyota Motor Corp. may close a San Francisco Bay Area vehicle-assembly plant that it jointly operates with General Motors, The Wall Street Journal reports.

Source: MarketWatch.com - Top Stories | 12 Jul 2009 | 8:01 am

CIT Group retains bankruptcy counsel: Journal

CIT Group Inc., which specializes in lending to small and medium-sized U.S. businesses, has retained counsel to prepare for a possible reorganization in bankruptcy court, people familiar with the matter told The Wall Street Journal.

Source: MarketWatch.com - Top Stories | 12 Jul 2009 | 7:32 am

Iran inflation dips to 22.5 percent in June

Iranian inflation, one of the biggest economic challenges facing the country, fell slightly to 22.5 percent in the Iranian calendar month ending June 21, the Sarmayeh newspaper has said,...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 7:30 am

'Cash for clunkers' program has its roadblocks

Certain requirements must be met before you can get a voucher for trading in your old car for a new one. If you qualify, determine whether your gas guzzler is worth more than the government rebate.

If you want to trade in your junker for a new vehicle under the federal government's "cash for clunkers" program, you'll have to act fast. The program expires Nov. 1 -- or when it runs out of money, whichever comes first -- and qualifying for the vouchers isn't as simple as you might think.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Many underwater homeowners are deliberately walking away from mortgages

A study finds that 26% of the defaults across the country are calculated economic decisions to bail out of loans by borrowers who could afford to make the monthly payments. ...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

As the Hollywood machine abandons L.A., its supporting workers struggle

Clean, open modernism in Altadena

A 1950 Caspar Ehmcke design has the indoor-outdoor feel and natural materials that are typical of the style. Its perch offers views of the mountains and of downtown Pasadena. ...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

File bankruptcy or try to settle debts?

Also: What to do when credit limits suddenly drop, and whether IRAs offer protection from legal claims. Dear Liz: My question is whether...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

Marketing in the modern world

Jason Yim's company Trigger designs websites and games to promote big Hollywood movies, tying into Facebook and MySpace and opening a Shanghai office along the way.

The gig : Founder and executive creative director of Trigger, a digital marketing agency that designs websites and games to market big Hollywood movies on the Internet and through mobile phones and other devices. The Los Angeles company employs 60 developers and 3-D artists, including 40 who work at a studio in Shanghai. The company's clients include Sony Pictures, Walt Disney Co., Cartoon Network and Paramount Pictures.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Strategies for investing as inflation looms

There's no consensus on when it might occur, but inflation could be the price of recovery. Here's how to pick assets that are resistant to inflation or can even benefit from it. ...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

Market bulls take a rough ride

Despite the sharp rebound in share prices, wary investors remain fearful about the economy. Stock mutual funds...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

As the Hollywood machine abandons L.A., its supporting workers struggle

Small, blue-collar businesses that sustain California's entertainment industry -- prop houses, studio equipment shops -- fight for business as film production migrates to incentive-rich states.

In an industrial yard behind Burbank's Bob Hope Airport, dozens of orange forklifts and 135-foot-high booms stand idle, gleaming in the afternoon sunlight. As recently as two years ago, the yard was largely empty because the equipment was busy being used to hoist cameras, rig lights and build sets for "Iron Man," "Get Smart," "The Curious Case of Benjamin Button" and other movies shooting throughout Southern California.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Bond mutual funds soared on hope

Returns skyrocketed in many categories -- but not U.S. government bonds -- as investors felt braver in the second quarter and dumped low-yield Treasuries.

As long as you stayed away from long-term Treasury bonds, chances are you made good money in bond mutual funds in the second quarter.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Bankruptcy is an option for homeowners trying to avoid foreclosure

If nothing else, the legal maneuver will buy them some breathing room. But it also will destroy their credit rating, and it may not even be necessary. ...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

'Cash for clunkers' program has its roadblocks

File bankruptcy or try to settle debts?

Also: What to do when credit limits suddenly drop, and whether IRAs offer protection from legal claims.

Dear Liz: My question is whether I should file for bankruptcy or try to settle my debts.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Marketing in the modern world

Jason Yim's company Trigger designs websites and games to promote big Hollywood movies, tying into Facebook and MySpace and opening a Shanghai office along the way. ...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

Strategies for investing as inflation looms

There's no consensus on when it might occur, but inflation could be the price of recovery. Here's how to pick assets that are resistant to inflation or can even benefit from it.

Only a few months ago it was all the rage to fear the end of the financial world as we know it. A popular nightmare scenario featured a deflationary spiral -- a devastating cycle of declines in prices and wages.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Market bulls take a rough ride

Despite the sharp rebound in share prices, wary investors remain fearful about the economy.

Stock mutual funds just racked up their biggest quarterly advance in six years.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Many underwater homeowners are deliberately walking away from mortgages

A study finds that 26% of the defaults across the country are calculated economic decisions to bail out of loans by borrowers who could afford to make the monthly payments.

Would you, under any circumstances, default on your home mortgage, even if you could afford to make the monthly payments?

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Clean, open modernism in Altadena

A 1950 Caspar Ehmcke design has the indoor-outdoor feel and natural materials that are typical of the style. Its perch offers views of the mountains and of downtown Pasadena.

This classic midcentury modern home in quiet northeast Altadena has the indoor-outdoor feel, simple lines and open living space that typify the style.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Bankruptcy is an option for homeowners trying to avoid foreclosure

If nothing else, the legal maneuver will buy them some breathing room. But it also will destroy their credit rating, and it may not even be necessary.

To most people, bankruptcy is a four-letter word. But when all else fails, declaring bankruptcy can be an honest and time-tested legal maneuver to save your house from foreclosure.

Source: L.A. Times - Business | 12 Jul 2009 | 7:00 am

Bond mutual funds soared on hope

Returns skyrocketed in many categories -- but not U.S. government bonds -- as investors felt braver in the second quarter and dumped low-yield Treasuries. ...
Source: RSS feed - channel BNPaperBusiness | 12 Jul 2009 | 7:00 am

Australia: Employee detention could hurt China biz

The detention of an Australian Rio Tinto Ltd. employee on spying charges could damage the business environment for foreign companies wanting to work in China, an Australian cabinet minister
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 6:43 am

Omega-3 no match for Alzheimer's, study finds

* Shows promise in healthy people with mild memory trouble
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 6:00 am

Air Charter International Provide Global 2009 Hajj Air Charters

DUBAI, UAE, July 12 /PRNewswire/ -- Air Charter International (ACI), a leading aviation solutions provider in Arabia, Africa, Asia and Asia Pacific announces their...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 5:00 am

EU, Turkey set to sign Nabucco pipeline deal

European Union countries and Turkey are Monday to sign a key intergovernmental agreement on Europe's flagship Nabucco gas pipeline, coming a step closer to realizing a project that still...
Source: RSS feed - channel BNewsBusiness | 12 Jul 2009 | 4:30 am

Nomura tie-up with India's largest life insurer (AFP)

AFP - Japan's top securities firm Nomura Holdings has agreed to an asset-management capital tie-up with Life Insurance Corp. (LIC), India's largest life insurer, a newspaper has reported.

Source: Yahoo! News: Business | 12 Jul 2009 | 4:17 am

Can't pay your doctor? Charge it!

As medical bills pile up, more Americans are paying their doctors with plastic.
Source: Business and financial news - CNNMoney.com | 11 Jul 2009 | 10:45 pm

Britons will be poorer in coming decades

Britain's economic crisis is still with us and is going to worsen. Some unpleasant medicine will have to be taken.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 10:38 pm

Three ways to reduce UK's £22bn debt

Higher taxes or lower public spending? Assessing the different options available over the next five years.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 10:33 pm

Dorothy Thompson: taking on the power challenge

Despite her modesty on the technical side Drax Power chief executive Dorothy Thompson has a shrewd understanding of the realities facing her industry.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 10:23 pm

Barclays raids Citi for M&A banker Todd

Barclays has hired another senior rainmaker from Citigroup as it looks to establish itself as "the world's premier investment bank".
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 10:15 pm

Three Delta fund hires property guru Le May

Three Delta the investment fund that attempted a £10.5bn bid for J Sainsbury in 2007 has hired veteran property investor Malcolm Le May.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 10:14 pm

Cheney linked to secret CIA program

CIA Director Leon Panetta reportedly has told Congress that his predecessor kept a counterterrorism program secret from Congress for eight years on orders of then-Vice President Dick Cheney.

Source: MarketWatch.com - Top Stories | 11 Jul 2009 | 10:05 pm

Focus DIY faces tough credit review

A review of Focus DIY's financial position will be delivered by Ernst & Young to the group's lenders this Friday to help them to decide whether to continue backing Britain's third largest DIY retailer.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 9:50 pm

Former ProSieben chief Guillaume de Posch in ITV frame

Guillaume de Posch the former chief executive of ProSiebenSat.1 has emerged as a strong contender for the ITV chief executive role.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 9:40 pm

Obama says stimulus is working as planned

Obama says stimulus package working as intended.

Source: MarketWatch.com - Top Stories | 11 Jul 2009 | 9:35 pm

Centrica turns hostile with £1bn takeover bid for Venture Production

Centrica is this week expected to take its £1.3bn offer for Venture Production directly to the company's shareholders.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 9:34 pm

Sony set for stake in Cowell and Green's joint venture

Sony is expected to take a stake in Simon Cowell and Sir Philip Green's new global entertainment company.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 9:31 pm

EMI owner Guy Hands vows to stay away from UK for tax reasons

Guy Hands the City financier who runs Terra Firma Capital Partners has vowed not to set foot in Britain for two years in protest at the Government's lack of clarity over its 90day tax rule.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Jul 2009 | 9:24 pm

NewsWatch: Stocks hang hopes on tech, financials next week

Investors will key next week on earnings from techs and banks for hints of what to expect in the third quarter -- and how badly the recession hurt businesses in the second quarter.

Source: MarketWatch.com - Top Stories | 11 Jul 2009 | 9:00 pm

Demos want higher tax on wealthy for health care

House Democrats intend to pay for their health-care reform plan with higher taxes on Americans making more than $350,000 a year.

Source: MarketWatch.com - Top Stories | 11 Jul 2009 | 8:56 pm

Obama says stimulus plan to kick in later this year

WASHINGTON (Reuters) - President Barack Obama said Saturday more time was needed for his $787 billion stimulus package to work, predicting the spending would have a bigger impact on the economy later this year.

Source: Reuters: Business News | 11 Jul 2009 | 7:13 pm

Obama says stimulus plan to kick in later this year (Reuters)

Reuters - President Barack Obama said Saturday more time was needed for his $787 billion stimulus package to work, predicting the spending would have a bigger impact on the economy later this year.
Source: Yahoo! News: Business | 11 Jul 2009 | 7:13 pm

Twitter for business FAQ

Source: Business and financial news - CNNMoney.com | 11 Jul 2009 | 6:15 pm

Big media seek 21st century business models

SUN VALLEY, Idaho (Reuters) - Media moguls at this week's Sun Valley conference have spent as much time discussing how to reconfigure business models disrupted by the Web as they have worrying about the weak economy.

Source: Reuters: Business News | 11 Jul 2009 | 5:43 pm

VW sweetens bid for half of Porsche AG: report

FRANKFURT (Reuters) - Volkswagen has sweetened its bid to purchase almost half of sports car maker Porsche AG and is prepared to offer considerably more than 4 billion euros ($5.58 billion), Germany's Der Spiegel reported.

Source: Reuters: Business News | 11 Jul 2009 | 5:19 pm

VW sweetens bid for half of Porsche AG: report (Reuters)

Reuters - Volkswagen has sweetened its bid to purchase almost half of sports car maker Porsche AG and is prepared to offer considerably more than 4 billion euros ($5.58 billion), Germany's Der Spiegel reported.

Source: Yahoo! News: Business | 11 Jul 2009 | 5:19 pm

Stimulus will kick in this year - Obama

Read full story for latest details.
Source: Business and financial news - CNNMoney.com | 11 Jul 2009 | 5:16 pm

Obama calls for good governance in Africa

In Ghana, President Barack Obama urged Africans to take charge of their own destiny and stressed the need for responsible leadership in Africa
Source: Financial Times - US homepage | 11 Jul 2009 | 4:42 pm

Screwed by the brood

A growing number of older people are finding themselves struggling to pay their children's mortgages. And the problem is set to worsen as banks encourage families to collaborate financially to circumnavigate tightened lending...
Source: New Zealand Herald - Business | 11 Jul 2009 | 4:00 pm

Double loan trouble

Cash-strapped investors selling up are getting a nasty shock when hardball banks won't discharge their mortgage - or take their sale profits as a condition. Investors with more than one property mortgaged to the same bank - one...
Source: New Zealand Herald - Business | 11 Jul 2009 | 4:00 pm

High cost of an education

The recession is biting into every area of society, including private education, with private schools reporting reduced rolls as some parents cut back on a major area of discretionary spending. Tuition fees, uniforms, sports gear...
Source: New Zealand Herald - Business | 11 Jul 2009 | 4:00 pm

Martin Hawes : Spending goes out of fashion

The recession has skittled the plans of a lot of people. A sizeable part of the population now believe they no longer have the chance of a decent retirement and have nearly given up on investing for the future. This may be...
Source: New Zealand Herald - Business | 11 Jul 2009 | 4:00 pm

Gill South: Things a little quiet in the office? Duck out and get an MBA

Not so long ago, the biggest problem for New Zealand employers with thriving businesses was the skills shortage. Some had the foresight to help their talented staff gain more qualifications, but often this was postponed as firms were...
Source: New Zealand Herald - Business | 11 Jul 2009 | 3:55 pm

Saudi Electricity seeks bidders for Riyadh project (Reuters)

Reuters - State-run Saudi Electricity Company (SEC) (5110.SE) has invited bidders for a 2,000 megawatt power plant project in Riyadh as part of efforts to meet soaring demand, a senior company official said on Saturday.
Source: Yahoo! News: Stock Markets News | 11 Jul 2009 | 3:50 pm

Economic Indicator: Lingerie And Sex Toy Sales Flop

By Patricia Yarberry Allen, MD The loss of sexual interest among menopausal women has clearly become no longer newsworthy in this time of falling stock prices and rising unemployment. Otherwise, why wasn’t it big news when the uptown vibrator store had to close down because of the recession? Myla, a British lingerie, swimwear and sex-toy line, opened [...]

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Source: 24/7 Wall Street | 11 Jul 2009 | 2:48 pm

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