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PCs Getting So Cheap, Consumers Return To StoresThe good news for PC companies is that consumers are starting to buy computers again. The bad news is that they are not paying very much for the machines. The “new” PC business is dominated by inexpensive laptops and netwooks, some of which have prices as low as $300. Most research shows that Apple (AAPL) dominates [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 Aug 2009 | 4:57 am Obama says many months before U.S. exits recessionWASHINGTON (Reuters) - President Barack Obama warned on Saturday it would take "many more months" for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter.Source: Reuters: Business News | 1 Aug 2009 | 4:53 am Obama says many months before U.S. exits recession (Reuters)
Source: Yahoo! News: Business | 1 Aug 2009 | 4:53 am EU: Ukraine set for up to $1.7 billion in loansInternational lenders are ready to give Ukraine up to $1.7 billion in loans to help it pay a massive natural gas bill to Russia and reform its energy sector, the European Commission said...Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 4:50 am Iran starts trial for post-election unrestThe trials began of prominent moderates arrested shortly after Iran’s disputed June presidential election and charged with trying to topple the clerical establishment, Iranian media reportedSource: Financial Times - US homepage | 1 Aug 2009 | 4:09 am Auto Review: 2009 Nissan Maxima SV: Smooth luxuryThis is one nice-looking, comfortable sedan that should have wide appeal for those looking for new wheels from the fringes of the luxury car market.
Source: MarketWatch.com - Top Stories | 1 Aug 2009 | 4:01 am Biggest banks in US reward stars with huge bonuses (AP)
Source: Yahoo! News: Stock Markets News | 1 Aug 2009 | 3:46 am SEC reining in receiver in Stanford $7B Ponzi caseA federal judge ruled Friday that a court-appointed receiver who took over companies run by Texas billionaire R. Allen Stanford can recover only the interest _ not the principal _ on...Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 3:40 am SEC reining in receiver in Stanford $7B Ponzi case (AP)AP - A federal judge ruled Friday that a court-appointed receiver who took over companies run by Texas billionaire R. Allen Stanford can recover only the interest not the principal on investments that federal prosecutors say fed a multibillion-dollar Ponzi scheme.Source: Yahoo! News: Stock Markets News | 1 Aug 2009 | 3:40 am Chinese manufacturing expands in JulyChina's manufacturing expanded in July, a state-sanctioned index showed Saturday, as Beijing's massive stimulus spending helped boost growth in the world's third-largest economy. The...Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 3:38 am Austrian jobless rate stable in July: dataAustria's unemployment rate remained stable in July at 6.3 percent from the previous month, official data showed on Saturday. A total 232,387 persons were without a job last month, up...Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 3:16 am Gafisa Reports Second Quarter 2009 Results- Pre-Sales Grow to R$835 million for the quarter; R$1.4 billion for the first half of 2009 - - EBITDA Increases 76% to R$138.6 million on Revenue Increase of 54% to R$706 million...Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 1:25 am House OKs $2 billion more for 'cash for clunkers'But legislation to keep the program from running out of money faces a tougher time in the Senate. The Obama administration says rebate requests will be honored at least through Sunday.House lawmakers rushed to the rescue of the "cash for clunkers" program Friday, approving an additional $2 billion to keep the wildly popular initiative from running out of money. But its future beyond this weekend still remains a question mark.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am 'Cash for clunkers' keeps dealers busyWould-be buyers race in as reports surface that the federal rebate program is running out of money. The Obama administration is keeping it going at least through the weekend.Anxious buyers were rolling into Southern California car dealerships Friday, eager to snag a cash-for-clunkers deal while they still had the chance.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am Economy beats expectations, raising hope recession will end soonThe recession was worse than previously thought, a report says. Bad news? Maybe not. The economy shrank less than expected and businesses may have to ramp up production.The worst recession since the Great Depression could be coming to an end shortly, with a fresh report raising hopes that a recovery may be stronger than previously projected.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am 'Cash for clunkers': questions and answersThe cash-for-clunkers program will continue at least through this weekend, and perhaps beyond. Here's a Q&A guide to how it works:
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am 'Cash for clunkers': questions and answersThe cash-for-clunkers program will continue at least through this weekend, and perhaps beyond. Here's a Q&A; guide to how it works:Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Three things investors can count on when planning for a recoveryThe evidence keeps piling up that the U.S. economy has reached bottom and that a recovery of some sort is in the cards for the second half of this year.Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am 'Say on Pay' bill passes in largely party-line House voteThe measure is a response to public anger over bonuses paid by companies that took billions in bailouts.Walter Hamilton Reporting From New York Reporting From Washington -- Responding to the public furor over bonuses paid to Wall Street executives, the House of Representatives has voted to give regulators the authority to ban compensation practices that encourage banks to take excessive risks.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am Chevron profit drops 71%; natural gas drills shut downChevron Corp., the No. 2 U.S. oil company, said that its second-quarter profit fell 71% and that it put its entire land-based natural gas drilling operation on hold, citing dismal demand.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am Wells Fargo accused of bias on subprime loansThe Illinois state attorney general files a lawsuit alleging that the bank sold the more costly mortgages more often to blacks and Latinos as compared with whites with similar incomes.Accusing Wells Fargo & Co. of discriminating against minority borrowers by steering them into subprime mortgages, Illinois' attorney general sued the San Francisco bank, asking a state court to negate the loans and to fine Wells, the nation's largest home lender.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am Economy beats expectations, raising hope recession will end soonThe recession was worse than previously thought, a report says. Bad news? Maybe not. The economy shrank less than expected and businesses may have to ramp up production. ...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Fox, MSNBC told to dial rivalry back a notchNews Corp.'s Rupert Murdoch and GE's Jeffrey Immelt, whose corporations cooperate on other ventures, want to end the sniping between anchors Bill O'Reilly and Keith Olbermann.The on-screen and behind-scenes feuding between rivals Fox News and MSNBC, which has erupted in recent months like two kids squabbling, has gotten so loud that their parents are trying to tell them to knock it off.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am Wells Fargo accused of bias on subprime loansThe Illinois state attorney general files a lawsuit alleging that the bank sold the more costly mortgages more often to blacks and Latinos as compared with whites with similar incomes. ...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Program to speed fliers through airport security faltersAll three of the companies approved by the Transportation Security Administration to offer pre-screening services to frequent travelers have folded or suspended operations.Because of the stepped-up security after the 2001 terrorist attacks, several private companies collaborated with the federal government to offer pre-screening services so frequent travelers could speed through the airport.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am 'Say on Pay' bill passes in largely party-line House voteThe measure is a response to public anger over bonuses paid by companies that took billions in bailouts. Walter...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Fox, MSNBC told to dial rivalry back a notchNews Corp.'s Rupert Murdoch and GE's Jeffrey Immelt, whose corporations cooperate on other ventures, want to end the sniping between anchors Bill O'Reilly and Keith Olbermann. ...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am House OKs $2 billion more for 'cash for clunkers'But legislation to keep the program from running out of money faces a tougher time in the Senate. The Obama administration says rebate requests will be honored at least through Sunday. ...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Chevron profit drops 71%; natural gas drills shut downChevron Corp., the No. 2 U.S. oil company, said that its second-quarter profit fell 71% and that it put its entire land-based natural gas drilling operation on hold, citing dismal demand.Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Program to speed fliers through airport security faltersAll three of the companies approved by the Transportation Security Administration to offer pre-screening services to frequent travelers have folded or suspended operations. ...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am Three things investors can count on when planning for a recoveryThe evidence keeps piling up that the U.S. economy has reached bottom and that a recovery of some sort is in the cards for the second half of this year.
Source: L.A. Times - Business | 1 Aug 2009 | 1:00 am Stocks mostly flat as GDP shrinks at slower paceThe Dow gains a modest 17.15 to 9,171.61 to close out its best month since October 2002. The S & P 500 rises 0.73 to 987.48 and the Nasdaq slips 5.80 to 1,978.50. ...Source: RSS feed - channel BNPaperBusiness | 1 Aug 2009 | 1:00 am UAE's Dana Gas makes new Egypt gas discoveriesDUBAI, Aug 1 (Reuters) - United Arab Emirates-based Dana Gas said on Saturday it had made two gas finds in Egypt with reserves totalling an estimated 76 billion cubic feet.Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 12:49 am A superstar real estate agent plots his comebackIt's the perfect Miami morning at Carlos Justo's penthouse _ warm and bright, with luxury yachts powering through the sparkling blue Atlantic Ocean some 30 stories below. Justo, a...Source: RSS feed - channel BNewsBusiness | 1 Aug 2009 | 12:33 am KKR portfolio companies' IPOs likely on horizonNEW YORK/LONDON (Reuters) - Private equity firm Kohlberg Kravis Roberts & Co is preparing for an initial public offering for discount retailer Dollar General, a source said, and others are speculated to follow as it looks to take advantage of a recent rise in equity markets.Source: Reuters: Business News | 31 Jul 2009 | 11:59 pm KKR portfolio companies' IPOs likely on horizonNEW YORK/LONDON (Reuters) - Private equity firm Kohlberg Kravis Roberts & Co is preparing for an initial public offering for discount retailer Dollar General, a source said, and others...Source: RSS feed - channel BNewsBusiness | 31 Jul 2009 | 11:59 pm KKR portfolio companies' IPOs likely on horizon (Reuters)Reuters - Private equity firm Kohlberg Kravis Roberts & Co is preparing for an initial public offering for discount retailer Dollar General, a source said, and others are speculated to follow as it looks to take advantage of a recent rise in equity markets.Source: Yahoo! News: Business | 31 Jul 2009 | 11:59 pm Profit reports push Dow to best July in 20 years (AP)
Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 10:55 pm Taiwan, China oil firms to seek undersea reservesTAIPEI, Aug 1 (Reuters) - Flagship oil firms from China and Taiwan will explore again for oil and gas in the Taiwan Strait, an ocean channel that separates the two political rivals, from September, an...Source: RSS feed - channel BNewsBusiness | 31 Jul 2009 | 10:51 pm Drug cuts diabetics' pancreatic cancer risk - studyCHICAGO, Aug 1 (Reuters) - Diabetics who took the drug metformin, which makes the body process insulin better, had a 62 percent lower risk of pancreatic cancer compared to those who had never received...Source: RSS feed - channel BNewsBusiness | 31 Jul 2009 | 10:02 pm Getting Started on Twitter: A Quick GuideIf you haven’t already tried Twitter, you’ve probably heard a fair bit about it in recent months. What is Twitter? In a nutshell, it’s a free system that lets you share brief text messages with friends and strangers alike—and also “follow” other Twitter users to learn what they’re saying. The short messages really are short: 140 characters is the maximum. But many users are finding plenty to say within those limits, and many messages include links to content on the web. Here’s a quick guide to getting started with Twitter. 1. Go to Twitter’s home page at www.twitter.com and sign up for a free account. You’ll choose a name that will identify you on Twitter. Some people choose to use their name; others go by nicknames. 2. Find some other users to follow. For instance, to follow along with SmartMoney’s look back at how the financial crisis unfolded, visit the Twitter page for our reports at www.twitter.com/ReliveTheCrash once you’re signed into Twitter. Click the “follow” button. (For more ideas on Twitter users to follow, see our report from earlier this year, “Using Twitter to Make Smarter Money Moves.") 3. Start “tweeting” yourself. Let your friends know that you’re on Twitter and type out messages to share your thoughts (which can include links to material on the Web you find interesting). SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 31 Jul 2009 | 10:00 pm August 1, 2008 (FRIDAY): Auto Anxiety; Jobless Rate Nearly 6%Pressure Mounts at GMNot a good day to be GM CEO Rick Wagoner. His company reported a second-quarter loss of $15.5 billion, the third biggest in its 100-year history. Culprits range from plunging U.S. sales to the declining value of truck leases. In his ninth year at the helm, Wagoner is trying to raise $17 billion in cash and push fuel-saving cars to replace the out of favor SUV. (For more on this news, click here.) Unemployment Hits 5.7%The great job drain continues as employers cut their payrolls for the seventh consecutive month, this time by 51,000 jobs. 463,000 jobs have been lost since January. The unemployment rate for July was 5.7 percent, the highest in four years. While losses cut across nearly every sector, things were particularly bad for teens 16 to 19. Their unemployment rate was 20.3 percent, the highest since 1992. (For more on this news, click here.) Chrysler Seeks to ReassureIs Chrylser in trouble? The auto maker says not, and to prove it, released limited financial data today. The move was voluntary—since the company is privately-held it doesn’t have to reveal anything—and it was the first time that Cerberus Capital has provided such data. The “good” news: the company had $11.7 billion in cash and securities through June 30, and that earnings before taxes, interest, depreciation and amortization, were $1.1 billion. (For more on this news, click here.) Regulators Close a Florida BankMake that eight and counting: Florida and federal regulators today closed First Priority Bank. It becomes the eighth U.S. bank to fail this year. The Federal Deposit Insurance Corp. said the insured deposits of Bradenton, Fla.-based First Priority would be acquired by SunTrust Banks Inc. Refunding deposits will put a $72 million dent in the deposit insurance fund. (For more on this news, click here.) SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 31 Jul 2009 | 10:00 pm FCC investigates Apple’s ban of Google VoiceThe US regulator enters the fray over consumer calling choice on mobile phones, sending letters inquiring into Apple’s decision to reject the Google applications on its iPhoneSource: Financial Times - US homepage | 31 Jul 2009 | 8:17 pm S&P eyes 1,000 but could be ripe for retreatNEW YORK (Reuters) - Wall Street may have momentum on its side next week as the S&P 500 tries to puncture the 1,000 level, but the rally's staying power will depend on whether U.S. data and corporate earnings provide more signs of economic stabilization.Source: Reuters: Business News | 31 Jul 2009 | 7:35 pm S&P eyes 1,000 but could be ripe for retreat (Reuters)
Source: Yahoo! News: Business | 31 Jul 2009 | 7:35 pm S&P eyes 1,000 but could be ripe for retreat (Reuters)
Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 7:35 pm Key House panel OKs sweeping health-care overhaulA key House commitree narrowly approves a massive health-care overhaul, laying the groundwork for a full House vote after Congress returns from its August recess.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 7:25 pm Illinois files bias suit against Wells FargoCHICAGO (Reuters) - Illinois Attorney General Lisa Madigan filed suit on Friday against Wells Fargo & Co , accusing the second-largest mortgage lender of steering blacks and Latinos into high-cost subprime loans.Source: Reuters: Business News | 31 Jul 2009 | 7:16 pm Dealers warned off Cash for ClunkersDespite the Obama administration's promises that any Clunker deals written this weekend would be honored, the National Automobile Dealers Association is advising its members to play it safe and not close any more deals until the program's fate is clearer.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 7:00 pm Five U.S. bank closures bring 2009 total to 69Five U.S. banks were closed by regulators Friday, bringing the tally this year to 69.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 6:57 pm FCC seeks details on Google app rejection for iPhone (Reuters)
Source: Yahoo! News: Business | 31 Jul 2009 | 6:40 pm FCC seeks details on Google app rejection for iPhoneSAN FRANCISCO (Reuters) - The Federal Communications Commission is seeking additional information about Apple Inc's decision to reject Google Inc's voice application for the iPhone.Source: Reuters: Business News | 31 Jul 2009 | 6:40 pm 5 more banks failRegulators shut down five regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 69 this year.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 6:37 pm US may be over recessionThe American economy has been through a deeper downturn then previously thought - but is also improving at a faster rate than anticipated, latest figures show. United States GDP contracted at an annualised rate of 1 per cent between...Source: New Zealand Herald - Business | 31 Jul 2009 | 6:00 pm Rank on a winning streak, but tax rise loomsRank Group, Britain’s largest bingo operator, has been boosted by strong figures from its casino business, as customers flocked to roulette wheels and poker tables despite the recession. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Oleg Deripaska loses his battle to transfer lawsuit from London to RussiaAn appeal by Oleg Deripaska, the Russian billionaire, to have a £2.4 billion lawsuit against him transferred from London to Russia was rejected yesterday. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Hopes grow that America is pulling out of worst recession on recordThe contraction of America’s economy slowed dramatically in the second quarter, the strongest sign yet that the worst recession since 1947 is abating. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Candlemakers turn up heat on oil giantsA group of European candle manufacturers are suing ExxonMobil and Royal Dutch Shell for hundreds of millions of euros over their involvement in a long-running cartel to fix the prices of paraffin wax. The manufacturers, which allege they were overcharged as a result of the cartel, filed the claim at the High Court in London yesterday. The move comes after the European Commission fined nine companies almost €700 million (£600 million) last October for fixing prices between 1992 and 2005. Exxon was fined €84 million, while Shell escaped a financial penalty because it blew the whistle on the cartel. Anthony Maton, a partner at Hausfeld, the law firm that brought the case, said: “This action has been commenced to offer our clients, and potentially hundreds of other businesses who have been affected, a means to recoup their considerable losses.” Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Business big shot: Cynthia Carroll of Anglo AmericanCynthia Carroll probably had the dice loaded against her from the start. When she arrived at Anglo American as chief executive in 2007, she joined a group dominated by South African males in an irredeemably macho industry. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Wilton threat is ‘hammer blow for North East’A huge integrated chemical industry site, which was built by ICI and employs thousands of workers in the North East, has come under threat as three of the plants at Wilton, Teesside, face the possibility of closure. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm British Airways jettisons high fares and goes for offers to put ‘bums on seats’British Airways has responded to mounting losses by unleashing an array of special offers and reduced fares to lure back passengers. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Bloodletting in business classIf you have any frequent flyer points, keep mum. Don’t let anyone see your BA gold card and, for good measure, moan interminably about how you are chained to your desk. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Judge orders Tchenguiz brothers to return filesThe billionaire Tchenguiz brothers have been ordered by a judge to return confidential documents seized from their brother-in-law in a feud over their sister Lisa’s divorce. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Rat plague opens new doors for RentokilIf you thought swine flu was getting serious, spare a thought for Libya, which has had to tackle a nasty outbreak of bubonic plague. What the country needed, of course, was a rat expert, which is where Rentokil Initial came in. Source: Latest Business News from Times Online | 31 Jul 2009 | 6:00 pm Three more directors quit BofABank of America announced the departure of three more directors, adding to the exodus of allies of Ken Lewis, chief executive, in the past three months and paving the way for new members to join the boardSource: Financial Times - US homepage | 31 Jul 2009 | 5:50 pm After Hours: Huron Consulting sets restatement and shares dropShares of Huron Consulting Group Inc. Friday evening were slammed after the company issued weak revenue forecasts, outlined a management shakeup and said years of financial reports will be restated.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 5:48 pm Bank of America board loses three more membersNEW YORK (Reuters) - Bank of America Corp said on Friday three directors had resigned, the latest in a series of departures at the bank at a time when it is shaking up its board at the behest of the government.Source: Reuters: Business News | 31 Jul 2009 | 5:39 pm Ex-Qwest chief Nacchio may get reduced jail timeDENVER (Reuters) - Ex-Qwest Chief Executive Joseph Nacchio could get his six-year prison sentence and $52 million penalty for insider trading reduced, after an appeals court said on Friday he was improperly sentenced.Source: Reuters: Business News | 31 Jul 2009 | 5:36 pm Obama sees US economy improvingBarack Obama says new figures on the US economy indicate progress is being made in tackling the country's problems.Source: BBC News | Business | World Edition | 31 Jul 2009 | 5:22 pm Weekend Investor: Mutual-fund sales fees often kept from investorsMutual-fund investors might think the fees they pay for their investments go directly to the funds in return for managing money. Think again.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 5:08 pm Safety fears spark Honda recallJapanese carmaker Honda announces it is recalling 440,000 vehicles in the US due to an airbag defect.Source: BBC News | Business | World Edition | 31 Jul 2009 | 5:04 pm Washington Calendar: Washington events for Aug. 3 - 7The major events and data coming out of Washington during the week.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 5:04 pm US and UBS strike deal on client identitiesThe US and Switzerland reached an agreement on the closely watched dispute over whether UBS should be forced to reveal the identities of thousands of its American clientsSource: Financial Times - US homepage | 31 Jul 2009 | 5:03 pm US drives its claws into scrappage dealsBarack Obama’s administration and members of Congress were scrambling to find ways of extending a scrappage scheme after an avalanche of applications exhausted its $1bn budget within days of launchSource: Financial Times - US homepage | 31 Jul 2009 | 4:55 pm U.S. economy shrinks modestlyWASHINGTON (Reuters) - The deepest U.S. recession since the Great Depression showed signs of easing in the second quarter, buttressing hopes for a second-half recovery, though it may be anemic as consumers are still strapped for cash.Source: Reuters: Business News | 31 Jul 2009 | 4:53 pm KKR eyes market blitz of up to six IPOsThe world’s biggest buy-out group is preparing up to six companies for initial public offerings worth billions of dollars, as it sells some of its most valuable groups back to the stock marketSource: Financial Times - US homepage | 31 Jul 2009 | 4:31 pm 'Stable' emerges as earnings buzzwordA quick review of second-quarter corporate report cards so far this season shows a growing number of companies willing to venture that they’ve probably seen the worst of the Great Recession.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 4:28 pm Energy Stocks: Energy stocks end higher, post solid July gainsOil and gas stocks end Friday in positive territory, getting a big lift from crude's rally past $69 a barrel, Chevron earnings, and better-than-feared U.S. economic data. All three sector indexes close out July with solid gains, led by the natural gas group's 8.4% advance.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 4:22 pm S&P 500 sees best 5-month streak since 1938 (Reuters)
Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 4:20 pm Hear: The Pros And Cons Of Financial InnovationOn today's Planet Money: Congress has been arguing for months now about the best ways to overhaul the American system of financial regulation. It's a tough conversation, because regulation can be bad in a couple of ways. First, regulation can be ineffective, in which case it fails to prevent the outcomes it was designed to block or causes more problems than it solves. Second, regulation can overreach, in which case it stifles financial innovation. After newfangled financial products nearly brought down the global economy last fall, you might think it's not so bad to stifle financial innovation. But financial innovation has also led to prosperity. Atlantic writer Mike Konczal and Columbia Business School economist Charles Calomiris argue the case for (and against) Wall Street creativity. Bonus: Blog comment of the week. Download the podcast; or subscribe. Intro music: Little Boots' "New in Town." Find us: Twitter/ Facebook/ Flickr. Reacting news that wages have gone almost stagnant, S W Moof writes: Nearly flat? Funny, since I don't know a single person who has actually seen a raise in the last 12 months, or even seen their benefits stay flat. My company is even docking us $100 a month if our spouse's work to help cover the added cost of their healthcare (this is new as of this fall). Best I can tell as a salaried schmuck I am down about 18% this year due to a 10% paycut, cancelled bonus program, and furloughs. If you toss in the forced vacations that have ruined this year's AND next year's plans it's up past a 20% cut in pay and benefits this year. Threats of cut programs and further layoffs are being used frequently to get folks to work more hours as well. My guess is that those Goldman-Sachs bonuses are skewing the curve and hiding the story of what the bottom 90% are really feeling. We're thinking it's tongue-in-cheek on the Goldman part, but clearly people are feeling their paychecks are at risk of shrinking. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 4:19 pm Factors that inhibit chances of rapid recovery in the USThe federal deficit and individuals rebuilding their savings are significant obstacle argues Martin Hutchinson.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 4:13 pm Illinois files bias suit against Wells FargoRead full story for latest details.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 4:11 pm Honda recalls another 440,000 vehiclesHonda Motor Co. said Friday it widened a previously announced recall to add 440,000 cars that could have a lethal airbag defect.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 4:11 pm Dow ends best July in 20 yearsStocks were little changed Friday after a report showed the pace of the recession is slowing, but the market managed to post its best July in decades.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 4:00 pm Market Snapshot: Heady July stock gains turn focus on laggardsWith July the best month for blue-chip stocks since 2002, investors' focus has turned to laggards such as energy and health care.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 4:00 pm Illinois files bias suit against Wells Fargo (Reuters)Reuters - Illinois Attorney General Lisa Madigan filed suit on Friday against Wells Fargo & Co , accusing the second-largest mortgage lender of steering blacks and Latinos into high-cost subprime loans.Source: Yahoo! News: Business | 31 Jul 2009 | 3:58 pm Write-Offs: 07.31.09$$$ U.S. House Passes Bill Allowing Ban on Incentive Pay [Bloomberg] $$$ Andres Piedrahita denies responsibility in Madoff fraud [CR via clusterstock] $$$ Hiring: Goldman Sachs, Fifth Third, Wells Fargo [The Deal] $$$ Job of the Week: UBS Needs an associate director of investment banking. You. [DB Career Center] $$$ We have not heard a single update about this morning's bull rider. Bull rider, if you're reading this, get in touch. $$$ Programming note: I'll be on vacation next week through the 12th. Equity Private will be subbing, and of course Greg will be here with the topless photos. 
Sponsored Topics: Goldman Sachs - Wells Fargo - Investment Banks Source: Dealbreaker | 31 Jul 2009 | 3:55 pm Congress moves to extend autos 'clunkers' planWASHINGTON/DETROIT (Reuters) - The U.S. Congress moved to triple the funding for the government's successful "Cash for Clunkers" auto rebate program, which has brought car buyers back into showrooms and raised the outlook for an industry beset by abysmal sales, bankruptcies and job cuts.Source: Reuters: Business News | 31 Jul 2009 | 3:55 pm Congress moves to extend autos 'clunkers' plan (Reuters)
Source: Yahoo! News: Business | 31 Jul 2009 | 3:55 pm Oleg Deripaska fails to stop £2bn lawsuit being heard in EnglandLawsuit launched against oligarch should be tried in UK says court.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 3:34 pm Top Ten: MarketWatch's top stories of the week, July 27-31It was a week of moderate gains in U.S. stocks. That moderation appears to reflect an understanding that while things aren't as bad as they were in the winter and spring, they are a long way from peachy.
Source: MarketWatch.com - Top Stories | 31 Jul 2009 | 3:31 pm Health reform follies: How to keep upA lot was supposed to happen on health reform before Congress went on summer vacation. Turns out, a lot didn't. End result: The heavy lifting on health reform legislation has been pushed to the fall.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 3:29 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 starting this spring. The numbers are the closing levels for the Dow:Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 3:12 pm Big Texas bank on verge of failureGuaranty Bank is hardly a household name. But the Austin, Texas-based thrift's looming failure is shaping up as a big headache for bank supervisors -- not to mention a black eye for Carl Icahn and others in the smart money set.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 3:08 pm How the major stock indexes fared on Friday (AP)AP - The stock market's best July in 20 years is giving investors reason for hope about the economy. Investors are placing big bets that the ability of companies to squeeze out surprise profits means the longest recession since World War II is finally easing its grip. But even as earnings and some economic reports suggest the economy is strengthening, the stock rally means investors will pay a bigger price if they are wrong.Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 3:07 pm FTSE 100: stock market has best month in more than six yearsBiggest rise since 2003 brings hope of recession ending.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 3:05 pm Matt Taibbi Has A Reminder For People At His Favorite FirmWhen asked today about whether GS acutally had better people which helped them avoid a Lehman-like end, Taibbi spelled it out in crystal clear terms by saying,"they're not smarter than other people" and then launched into his government consipracy theory to explain the firm's profitability. If you've got half an hour to kill, you can listen to the Mad Max Tour warm up music in its entirety
Sponsored Topics: Matt Taibbi - Mad Max - Goldman Sachs - Social Studies - School Time Source: Dealbreaker | 31 Jul 2009 | 2:59 pm Presented By:Source: Dealbreaker | 31 Jul 2009 | 2:59 pm U.S. economy shrinks modestly (Reuters)
Source: Yahoo! News: Business | 31 Jul 2009 | 2:56 pm Richard Perry Will Burn Your Eyes Out With His Bling
Neighbors who live across the street in a penthouse at 14 Sutton Place complained that the light reflecting off it was burning like lasers through their windows, and workmen had to adjust the diamond's positioning, a source said. It was one thing when a certain art loving hedge fund manager had a crane dump a diamond encrusted money sign the size of a football field on the roof of his Greenwich-area manse, disrupting gravitational pulls and distracting planes flying overhead. But this? This is quite another. Diamond In The Roof [NYP via Daily Intel]
Sponsored Topics: Hedge fund - Jeff Koons - Richard Perry - Business - Investing Source: Dealbreaker | 31 Jul 2009 | 2:42 pm Grim Numbers On Prices, Employment In EuropeBy Mathew Katz Consumer prices fell in July by 0.6 percent, according to a report today by Eurostat, the European Union's version of the Bureau of Labor Statistics. That's far greater than initial forecasts of a 0.4 percent drop. According the to report, the drop was largely because of decreased demand in consumer goods and services. Yesterday an IMF official told the European Community Board that deflation is not an immediate risk but can't be ruled out, either. Eurostat also released some grim data about unemployment in July: it's up to 9.4 percent, up 0.1 percent from May. That's a 10-year high, though it's a lower number than expected. But what's scary are some of the numbers in the report: in Spain, unemployment is at 18.1 percent. In Estonia, unemployment jumped from 4.6 percent to 17 percent in the past year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 2:19 pm Executive pay limits advance in U.S. CongressWASHINGTON (Reuters) - Eye-popping Wall Street bonuses could be banned by the U.S. government if pay packages are deemed to encourage "inappropriate risks," under a bill approved on Friday by the U.S. House of Representatives.Source: Reuters: Business News | 31 Jul 2009 | 2:17 pm The messy issue of 'too big to fail'Lawmakers are quickly learning that "too big to fail" may be too complex to legislate away.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 2:17 pm Guardian Media Group hit by downturn in advertising salesGuardian Media Group owner of The Guardian newspaper has announced nearly £90m in losses.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 1:48 pm Clunkers: Popular, but it may not matterWhile the Cash for Clunkers program is being hailed as a success, having apparently burned much or all its of its billion dollar budget in a matter of days, some analysts doubt the program will amount to much in the long run.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 1:44 pm US slump is almost over IMF predictsThe US is on the brink of emerging from recession as figures show the American economy contracted by just 1pc in the second quarter of the year.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 1:42 pm Obama Cheers Own Stimulus Bill For Better Than Expected GDPBy David Kestenbaum President Obama just now commented on the new GDP numbers (at annualized rate of -1 percent, the economy is still shrinking but less quickly). Obama called the report "better than expected." And who deserves credit for that? Obama said it was "directly attributable to the Recovery Act." The Bureau of Economic Affairs, which calculates GDP, agrees the $787 billion stimulus played a role. That's what you get for spending a lot of money. The Congressional Budget Office writes this month: "Stimulus legislation and efforts to stabilize the financial markets will push primary spending up to 26 percent of GDP this fiscal year, the highest level since World War II;" There's still debate over how much effect the stimulus spending has had so far -- much of the money has yet to be parceled out -- and whether another round will be needed. A chunk of the stimulus is in tax relief, which workers see in their regular paychecks. Another $158 billion has been set aside for direct spending around the nation, of which a third has been spent. Fun time-waster: Recovery.gov, which shows state-by-state projections for jobs saved and money spent, but makes it hard to see how much has been spent overall. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 31 Jul 2009 | 1:41 pm Yahoo investors 'don't understand Microsoft deal'Microsoft chief executive Steve Ballmer believes that investors in Yahoo do not fully comprehend the landmark deal the two technology giants struck earlier this week.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 1:31 pm Court orders for Tchenguiz familyProperty tycoons Robert and Vincent Tchenguiz had their knuckles rapped in court after a judge ruled they must return at least 250000 pages worth of information taken from their sister's estranged husband millionaire businessman Vivian Imerman.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 1:29 pm US votes to curb excess bonusesThe US House of Representatives votes for legislation to stop banks paying bonuses that encourage excessive risks.Source: BBC News | Business | World Edition | 31 Jul 2009 | 1:27 pm Which Buffett & Berkshire Hathaway Stocks Bounced The Most? (BRK-A, BAC, WFC, KMX, GE, GCI, IR, USG)We recently gave a list of companies which we thought Warren Buffett might want to consider selling or lightening up on after Berkshire Hathaway Inc. (NYSE: BRK-A) disclosed that it had finally decided to lighten up on its giant stake in Moody’s Corp. (NYSE: MCO). But an interesting question was brought up as a result [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 1:19 pm RBS contradicts Darling on business loans with new adsRoyal Bank of Scotland has launched an advertising campaign urging business customers to take advantage of their loan deals in a counterattack on the Government's claims that the banks are refusing to lend.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 1:19 pm US seeks to continue car rebatesThe US House of Representatives approves extra funds for a scheme offering cash for trading in old cars.Source: BBC News | Business | World Edition | 31 Jul 2009 | 1:19 pm Fight that could put paid to Wall Street's 100m menWhen Andrew Hall donated 2300 £1380 to Barack Obama's "victory fund" on October 13 last year the 58yearold banker probably didn't think much of it. The money - the maximum permitted donation by an individual under US federal election laws - though no doubt well intended was a drop in the ocean for the Britishborn oil trader.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 1:05 pm US stocks close month with hefty gainsUS equities settled mixed on Friday, but closed out July with solid gains as data on the economy suggested the vehemence of the recession was abating and expansion beckoned in the third quarterSource: Financial Times - US homepage | 31 Jul 2009 | 1:00 pm Study: Opposite financial habits attractEli Finkel of Northwestern University recently did a study showing that when it comes to financial styles, opposites attract. Tess talks to him about why spenders are drawn to savers and vice versa. We also hear from people on the street about the fiscal dynamic with their partners.Source: Marketplace Money | 31 Jul 2009 | 12:59 pm Getting PersonalHost Tess Vigeland and Marketplace Economics Editor Chris Farrell tackle listeners' questions about term vs. whole-life insurance policies, tuition reimbursement, and a correction about the term "joint-will".Source: Marketplace Money | 31 Jul 2009 | 12:59 pm Web site makes you the charityHelping friends or family members financially can be embarrassing for those on the receiving end. But a new Web site called "Giving Anonymously," is helping people give to those in need without the awkward face-to-face exchange. Lisa Napoli reports.Source: Marketplace Money | 31 Jul 2009 | 12:59 pm FTSE 100 slips while WPP shrugs off capitalraising rumoursAdvertising giant WPP was in focus amid speculation that it is set to launch a huge capital raising to shore up its balance sheet and boost its credit rating.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 31 Jul 2009 | 12:58 pm House backs bill to curb executive payRead full story for latest details.Source: Business and financial news - CNNMoney.com | 31 Jul 2009 | 12:38 pm Now You Bitches Have Done It. You've Messed With Ken Griffin
To: DealBreaker Earlier: Real Goldman Sachs Employees Demand Accountability At Fashion Meets Finance
Sponsored Topics: Goldman Sachs - Ken Griffin - Business - United States - Arts Source: Dealbreaker | 31 Jul 2009 | 12:37 pm This Week’s LinksIf you have delinquent clients, and want to know when it makes sense to hire a collections agency, NRS has a good post on the subject. Art Carden on the hidden costs of the minimum wage. Vitaliy Katsenelson writes an excellent blog on value investing, China, gold, and anything that fits his fancy. CNBC viewership is down 28%. Interesting. Why is there so much misinformation floating around on China?
Source: Business Pundit | 31 Jul 2009 | 12:37 pm India rejects emissions cuts for a decadeNew Delhi will not discuss signing up to legally binding obligations to make absolute cuts in greenhouse gas emissions for at least 10 years, said the country’s environment ministerSource: Financial Times - US homepage | 31 Jul 2009 | 12:29 pm Leading Economic Indicator Supports Recent Rally
Only time will tell if somebody tries to explain this away as 'Intensive Summer Coursework in Financial Markets'.
Sponsored Topics: Executive search - Employment - Business - Recruitment and Staffing - Unemployment Source: Dealbreaker | 31 Jul 2009 | 12:27 pm Cash squeeze hits oil industryEni of Italy has become the first big oil company to cut its dividend in the downturn, announcing a 23% cut in its interim pay-out to €0.50Source: Financial Times - US homepage | 31 Jul 2009 | 12:13 pm UK savers get £21bn compensationThe cost of reimbursing UK savers in the first six months of the credit crisis was £21bn, the official compensation body says.Source: BBC News | Business | World Edition | 31 Jul 2009 | 12:13 pm Government Bails Itself Out At GM: Cash For Clunkers Gets $2 BillionThe $1 billion “Cash for Clunkers” program was an ideal way for the government to protect its $50 billion investment in GM by stimulating domestic car sales as the industry enters the critical new model season. The trouble with the plan is that the fund exhausted itself in a few days. Pent up demand for new [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 12:00 pm Back-to-school shift helps US mediaA spike in higher education enrolments in the US has shown up this week in earnings announcements from companies in the otherwise hard-hit media sector, whose education divisions have far outperformed their better-known news brandsSource: Financial Times - US homepage | 31 Jul 2009 | 11:53 am Kiva expands loan offerings statesideThe microfinance site Kiva.org has been lending to businesses in developing countries for years. But now it's expanding its reach to those within the U.S. Kiva President Premal Shah about the company's decision to start lending stateside.Source: Marketplace Money | 31 Jul 2009 | 11:50 am Survey of the biggest consumer gripesAggressive debt collection tactics and false promises to fix foreclosure problems are just a couple things listed on a new survey of consumer complaints. Tess lists a few more.Source: Marketplace Money | 31 Jul 2009 | 11:50 am Slowing down the mortgage processYou may think you know the price of your house, but by the time you sign your closing papers the amount may be much different. Tess Vigeland talks with Elizabeth Razzi, author of "The Fearless Homebuyer" about new regulations that will slow everything down and make the mortgages process easier.Source: Marketplace Money | 31 Jul 2009 | 11:49 am Shopping's not a snap with food stampsFood stamps help thousands of families in need. But to get the most of out of them you need some smart shopping strategies. Reporter Jeff Tyler follows one woman who's become very savvy at navigating the food benefit system.Source: Marketplace Money | 31 Jul 2009 | 11:49 am Balance is crucial for safer investingMarkets are unpredictable, so why should anyone trust investing advice? Tess Vigeland talks with Wall Street Journal columnist Jeff Opdyke about why anyone should still read investment tips, and what they can expect to get out of the market these days.Source: Marketplace Money | 31 Jul 2009 | 11:49 am Straight Story: Fall of the money marketEconomics Editor Chris Farrell traces the rise and fall of the money market account, and explains why he's putting his extra cash into a good, old savings account.Source: Marketplace Money | 31 Jul 2009 | 11:49 am Demystifying the "Cadillac" health plan"Cadillac" or "gold-plated" insurance programs have come under fire in the Capitol Hill debate about health care. But just what do the plans cover and how do they work? Joel Rose reports.Source: Marketplace Money | 31 Jul 2009 | 11:49 am Chandler Discusses His Book `Making Sense of the Dollar'Source: Bloomberg - All Podcasts | 31 Jul 2009 | 11:40 am Wien Says U.S. Economy Won't See 3% Growth for Five YearsSource: Bloomberg - All Podcasts | 31 Jul 2009 | 11:38 am Forests no longer for saleNew Zealand's third-largest forest estate, Matariki Forests, has been withdrawn from sale. United States forestry company Rayonier, Matariki's 40 per cent owner, had been hoping to sell the joint venture for up to $1 billion....Source: New Zealand Herald - Business | 31 Jul 2009 | 11:30 am Chris Dodd Is Not Well
Sponsored Topics: Christopher Dodd - Connecticut - Senate - Politics - United States Source: Dealbreaker | 31 Jul 2009 | 11:27 am Small talk: Beer, Fed, snuggiesMarketplace's Rico Gagliano talks with fellow staffers George Judson, Nancy Farghalli, and Stacey Vanek-Smith about under-the-radar business stories: high-alcohol-content beer, the Fed's popularity, and snuggies for pets.Source: Marketplace | 31 Jul 2009 | 10:54 am Want a foreclosed home? Prepare to bidThere are 8 million homes sitting empty due to foreclosure. But if you think now is the time to buy -- you're not alone. Prepare for a bidding war. Rob Schmitz reports.Source: Marketplace | 31 Jul 2009 | 10:54 am Why West Virginia has a surplusWest Virginia Governor Joe Manchin talks with Kai Ryssdal about why his state has an unexpected $65 million surplus, and why he wants to use some of that money to give state employees a one-time salary enhancement.Source: Marketplace | 31 Jul 2009 | 10:54 am Weekly Wrap: Health care and marketsFreelance business writer Heidi Moore and Reuters finance blogger Felix Salmon talk with Kai Ryssdal about the politics of health care reform, and whether the markets should be doing as well as they are.Source: Marketplace | 31 Jul 2009 | 10:54 am European airline perks may fly awayBritish Airways has announced a big loss, and many of Europe's other so-called full-service carriers are also reporting lower earnings. Stephen Beard reports this may force Europe's airlines to fly the American way.Source: Marketplace | 31 Jul 2009 | 10:54 am What the GDP numbers tell usGross Domestic Product only declined 1% in the second quarter. That was better than expected, but is the worst over? Bob Moon gets to the bottom of the situation.Source: Marketplace | 31 Jul 2009 | 10:54 am More investing in Cash For Clunkers?Cash For Clunkers is so popular the government wants to invest billions more into the program. But not everyone thinks investing in the clunker trade-in is a good move. Stacey Vanek-Smith reports.Source: Marketplace | 31 Jul 2009 | 10:54 am New legislation may change exec payA bill that passed the House would allow shareholders to vote on pay packages for Wall Street executives, and give regulators new powers to limit rewards for risk taking. Amy Scott reports.Source: Marketplace | 31 Jul 2009 | 10:54 am BRE Properties Cut to `Sell' at UBSSource: Bloomberg - All Podcasts | 31 Jul 2009 | 10:42 am US and UBS reach deal in tax rowThe US government and Swiss bank UBS reach an "agreement in principle" over their long-standing dispute on tax evasion.Source: BBC News | Business | World Edition | 31 Jul 2009 | 10:38 am FTSE closes 23.25 points lower (AFP)
Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 10:33 am FTSE closes 23.25 points lower (AFP)
Source: Yahoo! News: Business | 31 Jul 2009 | 10:33 am Connexionz quits BritainConnexionz has exited its British operations by way of a management buyout and is focusing on expansion in the US. The firm's British business, which provides vehicle tracking systems, has generated losses since 2006 due to a...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:30 am TSX gains one percent at midday in broad rally (Reuters)Reuters - Toronto's main stock index extended its rally on Friday on broad strength across most sectors, underpinned by economic recovery hopes.Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 10:25 am Genworth shares fall as 2Q results miss estimates (AP)AP - Genworth Financial Inc. shares slipped on Friday, a day after the insurer reported worse-than-expected second-quarter results as it was hit by losses in its U.S. mortgage insurance division and investment portfolio.Source: Yahoo! News: Business | 31 Jul 2009 | 10:22 am Somebody Downtown Has A Present For The Guys At GoldmanIn case anybody at GS is having a rough Friday, there is a concerned individual on Craigslist who wants to help you out.
It starts with
And ramps up to the NSFW category after the jump
Sponsored Topics: Financial District Manhattan - Financial District San Francisco California - Financial District - Not safe for work - Goldman Sachs Source: Dealbreaker | 31 Jul 2009 | 10:17 am Brands As A Sign Of Better TimesBy Mathew Katz Remember the good old days? When the GDP was going up and most of your friends had a job? Remember relaxing in your relatively prosperity, turning on the TV, and watching fun commercials for all the products you could afford? Advertisers hope you do. There's a great article at The Globe and Mail today on advertisers bringing back old commercials in a recession. The goal is to invoke nostalgia for better times through classic ads for comforting, familiar products like ketchup, burgers, and Coke. By turning to archival footage, companies also hope to remind consumers that their brands have staying power through rough times -- because ketchup is forever. Does it work? Have you seen any old commercials that made you feel safer, more reassured -- or at least convinced you to go out and buy that product? Any old commercials that you'd love to see on TV again? Let us know in the comments, or on our Twitter feed. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 10:16 am Microsoft Analyst Day: As The King Was Looking Down, Google Plays JesterMicrosoft Corp’s (Nasdaq: MSFT) Steve Ballmer inks a deal with Yahoo, the software giant’s biggest in years, and all of a sudden he’s invincible. He sure made it sound that way at the company’s annual meeting with financial analysts this week, calling Apple’s (Nasdaq: AAPL) share gains versus Microsoft a “rounding error.”“Apple’s share globally costs us [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 10:15 am British Airways makes £148m lossBritish Airways reports a pre-tax loss of £148m in the three months to the end of June, as the global recession hits earnings.Source: BBC News | Business | World Edition | 31 Jul 2009 | 10:12 am BNP's Coronado Sees 10-Year Treasury Yield Falling Below 3%Source: Bloomberg - All Podcasts | 31 Jul 2009 | 10:12 am Climate target crucial decision for NZOver the next few days the Government will make one of the biggest calls of its term in office, announcing a greenhouse gas emissions target for 2020. It has to have a target to take to Copenhagen in December when the world gathers...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am Warning for finance companiesFinance Minister Bill English yesterday warned finance companies to sort themselves out as he considers what to do with the retail deposit guarantee scheme. The scheme, introduced by the previous Labour-led Government during last...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am Free flights latest twist in tourism adNew Zealanders are being encouraged to invite their international friends and family to visit in a new television advertising campaign aimed at boosting the recession-hit tourism industry. The "Great Kiwi Invite", launched yesterday...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am Shareholder attacks Kermadec decisionsKermadec Property Fund's board was asked not to treat its shareholders badly yesterday and take a more conservative approach to real estate. Shareholder Peter Blackwell criticised the board of the listed landlord which held its...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am Brian Gaynor: Fonterra's plan critical for farmers' futureThe proposed recapitalisation of Fonterra will be one of the biggest business stories over the next few months. This objective will be easier to achieve following the approval of the Silver Fern Farms recapitalisation in Balclutha...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am The crash could end sexism in the CityThey call it Hermione Granger syndrome. Harry Potter's sidekick is the brains but not the hero, and women in the City of London - the British capital's financial district, which is also called the Square Mile or just the City - know...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am Guangdong head on way upGUANGZHOU: One of Wang Yang's favourite slogans is "Free your thinking", and many believe the economic reformer will soon be one of China's top leaders unless he stumbles in his current job: running Guangdong - the nation's richest...Source: New Zealand Herald - Business | 31 Jul 2009 | 10:00 am Internet Gambling Bill Gains Support The Internet Gambling Regulation, Consumer Protection and Enforcement Act introduced by Rep. Barney Frank announced this week that 50 members of Congress signed on as co-sponsors of the legislation.
Gambling Bill Said to Protect ConsumersThe bill would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S. and mandates a number of significant consumer protections, including safeguards against the following:
Additional provisions in the legislation reinforce the rights of each state to determine whether to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary. The legislation also would allow states and Native American tribes with experience in regulating gambling to play a role in the regulatory process. But Is It All About the Tax Revenue?An analysis shows that collecting taxes on regulated Internet gambling would allow the U.S. to capture much-needed revenue in an amount ranging from $48.6 billion (excluding online sports gambling) to $62.7 billion (including online sports gambling) over the next decade. That kind of cash could pay for a lot of stimulus. Image Credit: Gabriel_Not, Flickr
Source: Business Pundit | 31 Jul 2009 | 9:57 am We Know Who Gets The Cash. But What Happens To The Clunkers?
Springfield, Vt.: There goes the clunker. (Vyto Starinskas / AP © 2009) By David Kestenbaum As I was listening to the news this morning that the Cash for Clunkers program was out of cash, I wondered for the first time what was actually happening to the clunkers. The idea behind the government program is to take old low-mileage cars off the road and provide a stimulus for the auto industry. But if we just resell the old cars, or Mexico buys them, it's not really helping the environment. On the other hand, destroying the cars seems like a waste too -- after all, these are cars that still run. As you might imagine, Cash for Clunkers struck a compromise: "The CARS Act requires that the trade-in vehicle be crushed or shredded so that it will not be resold for use in the United States or elsewhere as an automobile. The entity crushing or shredding the vehicles in this manner will be allowed to sell some parts of the vehicle prior to crushing or shredding it, but these parts cannot include the engine or the drive train." That's a lot of disassembly, and it means paying work for the economy. Auto technician John Eichorn tells the local TV station in Peoria: "It's kind of backwards because we're used to fixing them. But it's kind of fun to destroy them at the same time." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 9:55 am Holiday staff stage Dublin sit-inIrish Thomas Cook staff stage a sit-in at over redundancy terms after the early closure of its high street operation.Source: BBC News | Business | World Edition | 31 Jul 2009 | 9:54 am Buiter Favors One Non-Renewable Term for Fed ChairmanSource: Bloomberg - All Podcasts | 31 Jul 2009 | 9:54 am Guinee Says New York Commercial Real Estate Is `In the Tank'Source: Bloomberg - All Podcasts | 31 Jul 2009 | 9:46 am Morgan Stanley, Wells Fargo Review Selling Leveraged ETFsSource: Bloomberg - All Podcasts | 31 Jul 2009 | 9:43 am Call for Zimbabwe diamond banReports its army forced people to search for diamonds at gunpoint prompt calls for Zimbabwe to be banned from the diamond trade.Source: BBC News | Business | World Edition | 31 Jul 2009 | 9:40 am Dover's Cliggott Says Stock Market Indicates Recession Is OverSource: Bloomberg - All Podcasts | 31 Jul 2009 | 9:38 am Is Carl Icahn Stealing XO? (XOHO, IEP)XO Holdings, Inc. (OTCBB: XOHO) is not a usual company we’d cover because of the size and because of the Bulletin Board status. But this week we have been getting multiple inquiries about this stock. Usually on OTC stocks about all we see are stocks being touted, but that is not the case here. Carl [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 9:29 am Midas Fund's Winmill Sees Gold at $1,100 by End of YearSource: Bloomberg - All Podcasts | 31 Jul 2009 | 9:28 am Knightley Sees U.S. Near End of RecessionSource: Bloomberg - All Podcasts | 31 Jul 2009 | 9:27 am Goldman Becoming Bored Exploiting Current Regulation
With Goldman being one of the leaders in the nanosecond timing market, it appears they've become tired of having others come up the regulation gaming learning curve and nipping at their heels. Given the thorough, air-tight history of trading regulation, finding a way around whatever electronic trading plans make Schumer sleep better at night should take GS about as long as executing one of their trades.
Sponsored Topics: GoldmanSachs - Business - Chuck Schumer - Investing - Electronic trading Source: Dealbreaker | 31 Jul 2009 | 9:24 am Watch For Falling Wages: Government Says Pay Almost StagnantBy Laura Conaway Overall wages and benefits grew by a mere 0.4 percent in the first quarter, the Bureau of Labor Statistics reports. True, it's not a negative number, as we saw with gross domestic product this morning. But that 0.4 percent is unsettling. It comes as the final number in a year when compensation costs for private industry workers grew by 1.5 percent over the year before. BLS says it's the smallest change in the Employment Cost Index since it began in 1980. Wages and salaries grew by just 1. 8 percent for the year ending June 2009, compared to 3.1 percent for the year ending June 2008. That means wage gains have been cut in half, and many people are taking home less. "As long as this lasts it is very hard to see » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 9:06 am RBS 'is missing lending target'Royal Bank of Scotland, which is 70% taxpayer-owned, is not keeping to a commitment to raise business lending, the BBC learns.Source: BBC News | Business | World Edition | 31 Jul 2009 | 9:05 am This Week’s Weird Jobs
1. Denver: Marketing Blog Commenter Needed If you enjoy reading and learning about marketing, especially Internet related marketing, this may be the internship for you. I need someone to go and read marketing and business material at a variety of blogs and news sources online, and make real (not spammy) comments (thought provoking or insightful or funny comments) on the content of each of the posts on those blogs. I expect you to be a rock star at writing. You will need to respond to the content as soon as possible after it is posted (which means subscribing to the blogs in an RSS Reader like Google Reader, and possibly having updates sent to your phone or email, whichever will let you post responses most quickly). The first 30-45 days of this work will be an unpaid internship. At which time, if there is a mutual fit and the work you’ve done has been done in a quality fashion, we will negotiate an hourly rate not to exceed $9/hour. 2. Connecticut: Need someone to make a dump run for me? Hello…I am moving and need some help clearing trash/junk from my basement. Its a mixture of trash bags, broken down furniture, cardboard, a couch, old headboard and just random stuff. Probably just need a full size pickup truck or small truck w/ trailer. If you are interested please email or call me asap. I would be willing to pay $50 cash to the first person available. (I will not hire anyone with intentions on dumping illegally and would prefer someone that does this regularly) Will pay $50 more if you remove the bodies. 3. San Diego: Toisanese Speakers Needed!! Do you speak, read & write Toisanese? Are you interested in Law Enforcement? We want you! METROPOLITAN INTERPRETERS and TRANSLATORS, INC, a nationwide contractor to the FBI, ICE and the DEA is looking to hire Toisanese speaking individuals who want to work in the exciting field of LAW ENFORCEMENT. Candidates must be lawful residents of the United States, with GOOD CREDIT and NO CRIMINAL HISTORY who are proficient in Toisanese and English. Compensation starts at $30.00 per hour plus benefits. Our previous ad asked for “Chinese speakers,” but that never seemed to work out… 4. Denver: Writing about Medical Marijuana Candidate shall have knowledge regarding the subject matter as well as excellent writing skills. Candidate should also Commuting not encouraged. Excellent money, lots of fun and a very red bottom goes along with the job. (you must be willing to spank and be spanked long and even perhaps hard for both jobs) Please write Sasha for more information. Please give us your “spanking” background and send us a number of photos along with a photo of your “assets”. We feel you should be able to make from $40,000 to $50,000 the first year from both jobs. Office work and Modeling. Just don’t come complaining that you had a “hard” night. Happy Friday!
Source: Business Pundit | 31 Jul 2009 | 9:05 am Caption Contest Friday: Anyone Missing An Intern?
In all seriousness: WTF? If anyone has anything to get off their chests, please do so at this time.
Sponsored Topics: Photographer - WTF - People - Organizations - Law Source: Dealbreaker | 31 Jul 2009 | 9:03 am Consumers Saving More As Recession Stretches OnBy Laura Conaway In its report today about the shrinking American economy, the Bureau of Economic Analysis notes that people are spending less money -- which of course means they're saving more. From the BEA: Personal saving -- disposable personal income less personal outlays -- was $566.0 billion in the second quarter, compared with $426.9 billion in the first. The personal saving rate -- saving as a percentage of disposable personal income -- was 5.2 percent in the second quarter, compared with 4.0 percent in the first. The U.S. personal saving rate has been trending downward for decades, even dipping into the negative as people piled up credit card balances and other types of debt. During this recession, Americans have started to hoard cash again, and you can see that in today's report. After recent talks with China, U.S. Treasury Secretary Tim Geithner announced a general agreement to spur shopping among Chinese customers and encourage saving among American ones. Looks like he'll have the wind at his back on this one. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 8:30 am A Buy and Sell Case For Motorola (MOT)Motorola Inc. (NYSE: MOT) has been a troubled handset and communications and networking equipment provider for what is becoming longer than memory cares to record. Its restructuring plans have never seemed to end in more than a decade. We now have earnings behind us, and now come the analyst calls. Where this gets interesting this [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 8:24 am At -1 Percent GDP, Economy Still Shrinking, But More SlowlyBy Laura Conaway The American economy shrank at an annualized rate of 1 percent in the second quarter of 2009, the Bureau of Economic Analysis reports today. Put another way, the growth rate of -1 percent in gross domestic product means the situation is still getting worse, but the plunge is not nearly so steep as it had been. The economy had been going through an annualized contraction of 6.4 percent in the first quarter of 2009. That contraction of 6.4 percent is the final number for the quarter, released today as a revision upward to a revision downward. Before today's final accounting, the BEA pinned the first quarter number as a contraction of 5.5; shrinking at 6.4 is a fair bit worse. Today's -1 percent rate is also subject to being revised up or down. The BEA cites a 5.6 percent rate of increase in federal, state and local spending (stimulus, anyone?) and much smaller decreases in private investment. Consumer spending, which amounts to two-thirds of the economy, fell at rate of 1.2 percent. Economists in a Bloomberg survey predict the economy will grow by 1.5 percent from July to December. Bonus: Recession worse than estimated. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 31 Jul 2009 | 7:30 am European markets flat as dealers wait on US data (AFP)
Source: Yahoo! News: Stock Markets News | 31 Jul 2009 | 7:02 am Top Day Trader Alerts (ARIA, ANDS, SYNA, NVTL, ABAX, FSLR, ESLR, AVII)The following are some of the top stocks to watch for active trading today based on pre-market and after-hours volume activity. There are links through to more detailed coverage and volume analysis at VSInvestor.com: Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) shares are down this morning on cash crunch worries, following concerns raised by BioHealthInvestor.com earlier this week [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 6:58 am Q2 GDP Masks The Real WoesWe already knew GDP was coming out and that it was going to be bad. At least it was not an echo of the -5.5% GDP drop seen in Q1. The preliminary GDP came in at only -1.0% for the preliminary Q2 data. We had penciled in roughly -1.5% as the estimate. Unfortunately, it is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 6:42 am Bing
Source: Business Pundit | 31 Jul 2009 | 6:25 am Top 10 Analyst Upgrades and Downgrades (ARIA, RATE, IRM, ISLN, MOT, OMX, RTP, SYNA, VSEA, DIS)These are ten of the top pre-market analyst calls with upgrads and downgrades that we have seen from Wall Street early this Friday morning: Ariad pharmaceuticals (ARIA) Cut to Sell at Merriman Curhan Ford. Bankrate (RATE) Cut to Hold at Jefferies. Iron Mountain (IRM) Cut to Neutral at Baird. Isilon Systems (ISLN) Raised to Buy at ThinkEquity; Raised to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 6:07 am What If Swine Flu Cases Have Peaked?It is an audacious statement, but Sir Liam Donaldson, Chief Medical Officer of the UK, believes that swine flu cases may have peaked at about 110,000. He sees evidence that the number of people contracting the disease has leveled off. He admits that the flu may be back in the fall, but he does not [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 31 Jul 2009 | 4:08 am
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