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Hammerson losses double as retailers struggleHammerson, the commercial property group, today reported that losses have doubled in the last 12 months amid declining rents from retailers. Source: Latest Business News from Times Online | 3 Aug 2009 | 4:41 am Catholic bank owned pill sharesA Catholic bank in Germany apologises after admitting it had stocks in defence, tobacco and birth control firms.Source: BBC News | Business | World Edition | 3 Aug 2009 | 4:34 am Cash for Clunkers could end mid-weekThe popular Cash for Clunkers program faces extinction unless the Senate approves $2 billion in additional funding.Source: Business and financial news - CNNMoney.com | 3 Aug 2009 | 4:28 am London Markets: HSBC, Barclays lift FTSE 100 back to October levelLondon shares gain on Monday, boosted by earnings-related gains from banking giant HSBC and rival Barclays.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 4:25 am High Oil Prices, Nearly Forgotten, ReturnHigh oil prices were supposed to be a thing of the past, driven lower by over-supply in the US and a continuing recession is almost every large economy other than China. The smallest hint of an economic recovery in the second half of 2009 has changed the trend in just a few days. Oil moved above [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 4:21 am Barclays £3bn profits set to reignite bonus debateAround 21900 bankers on target for average bonuses of around £200000 for the year after investment bank's profits double.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 4:21 am Upgrade to lift electricity billsNearly £4 should be added to a household electricity bill in each of the next five years as the network is upgraded.Source: BBC News | Business | World Edition | 3 Aug 2009 | 4:16 am HSBC (HBC) And Barclays (BCS): The Bank Recovery Continues, For NowHSBC (HBC) announced that its earnings fell 57% to $3.35 billion during the first half of the year. The largest bank in Europe was able to temper some of its deficit for bad loans by a strong showing in its investment bank. Loans to consumers and businesses fell apart at a frightening rate. The stock [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 4:08 am HSBC profits drop 50% to $5bnProfits at HSBC dropped more than 50% to $5bn but earnings from investment banking doubled in the first six months of the year to a record $6.3bnSource: Financial Times - US homepage | 3 Aug 2009 | 4:02 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 4:01 am FCC inquires about Google VoiceSource: Business and financial news - CNNMoney.com | 3 Aug 2009 | 3:58 am Barclays profit up to almost £3bnUK bank Barclays announces pre-tax profits of £2.98bn ($5bn) for the first half of 2009, boosted by its investment banking arm.Source: BBC News | Business | World Edition | 3 Aug 2009 | 3:57 am Indications: U.S. stock futures up on economic optimismU.S. stock futures rise on Monday, as indications of improving economic health emerge from across the world.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 3:56 am Comment: Keydata not the only one in the dock in this scandalThe Keydata scandal raises serious questions about our regulatory system - it seems the FSA first became concerned in 2001.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 3:54 am Awash In Debt, Private Equity Face $400 Billion In Pay-OutsNew date from S&P LCD presented by the FT, shows that large private equity firms have $400 billion in debt that needs to be paid in the next five years. That debt load could be a drag on rising stock markets. LBOs helped to fuel the frenzy of rising publicly-traded stock values in 2005 and 2006. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 3:51 am UPDATE 1-Deals of the day -- mergers and acquisitionsAug 3 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0930 GMT on Monday.Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:51 am Shanghai stocks jump on data, again leading AsiaAsian markets end mostly higher Monday, with resource and shipping shares jumping in line with commodity prices.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 3:51 am GM China July sales up 77.7%: companyGeneral Motors, which has just emerged from bankruptcy under a US government-backed plan, said Monday its sales in China jumped 77.7 percent last month from a year earlier to 144,593 units.Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:50 am HSBC profit drops 57% on rising bad debt chargesHSBC, Europe’s largest bank, on Monday reports a 57% drop in net profit as surging losses from bad loans were partly offset by higher profits in its investment banking unit.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 3:46 am Crunch timeHow banks are faring two years after the crisis hitSource: BBC News | Business | World Edition | 3 Aug 2009 | 3:41 am Growth hopes push sterling to 2009 highSterling rose on Monday to its highest level against the dollar so far this year after data fanned hopes the UK economy might pull out of recession in the third quarter.The pound was already in demand...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 3:41 am MarketWatch First Take: HSBC missed golden chance last yearHSBC blew a golden chance last year by deciding not to buy any of the investment banks on the market.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 3:36 am HSBC global profits halve to $5bnHSBC's half-year profits drop by half to $5bn (£2.98bn) amid rising bad debts in the US, Europe and Asia.Source: BBC News | Business | World Edition | 3 Aug 2009 | 3:35 am L&G shares fall on dividend fearsLegal & General (L&G) was one of the biggest fallers in the FTSE 100 this morning ahead of its interim results tomorrow on speculation it may cut its dividend again and be forced into a share issue to rebuild its capital reserves. Source: Latest Business News from Times Online | 3 Aug 2009 | 3:33 am Germany, GM to meet Opel bidders Tuesday: government sourcesBERLIN (Reuters) - German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit, government sources said on Monday. Two rounds of talks are planned, one with Canadian auto parts supplier Magna and one with RHJ International, a Belgium-based financial investor that traces its origins back to U.S. private equity firm Ripplewood.Source: Reuters: Business News | 3 Aug 2009 | 3:33 am Germany, GM to meet Opel bidders Tuesday: government sources (Reuters)
Source: Yahoo! News: Business | 3 Aug 2009 | 3:33 am HSBC - Interim Results 2009 Interviews With CEO and FDLONDON, August 3 /PRNewswire-FirstCall/ -- International banking group HSBC today announced its half-year 2009 results. In a video interview on cantos.com,...Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:33 am Germany, GM to meet Opel bidders Tues: government sourcesBERLIN (Reuters) - German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM...Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:30 am Germany, GM to meet Opel bidders Tues-govt sourcesBERLIN, Aug 3 (Reuters) - German government officials and General Motors representatives will meet the remaining two bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit,...Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:29 am Pound hits 10-month dollar highSterling scales a 10-month peak against the dollar after upbeat data on the manufacturing sector raises hopes of recovery.Source: BBC News | Business | World Edition | 3 Aug 2009 | 3:26 am UPDATE 1-Thousands strike at S.African phone group TelkomJOHANNESBURG, Aug 3 (Reuters) - Thousands of workers at South African fixed-line telephone group Telkom began striking on Monday, the Communications Workers Union said, the latest industrial action to...Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:24 am UPDATE 1-Swiss Nycomed to buy Sanofi local portfolioZURICH, Aug 3 (Reuters) - Privately owned Nycomed [NYCMD.UL] is to buy a portfolio of 20 branded generic products in a number of Central and Eastern European countries from French drugmaker Sanofi-Aventis...Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:23 am Alibaba.com may set up JV firm in India for B2B-CEOSHANGHAI, Aug 3 (Reuters) - Alibaba.com , China's top e-commerce company, is considering setting up a joint venture company in India to operate B2B platforms, its chief executive David Wei said on Monday...Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:21 am Nissan Pulls Ahead Of Detroit In The Electric Car RaceNissan’s new Leaf car doesn’t use any gas and it does not produce any emissions. It is electric and it will be available in the US, Japan, and Europe next year. Nissan chief Carlos Ghosn could not resist showing off the new vehicle recently and said that he expects 10% of all cars sold worldwide in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 3:21 am UPDATE 2-Astellas profit slips 4.8 pct, keeps outlook* Prograf still without generic rival (Adds company comments, byline)Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:18 am Expect a roller-coaster ride in AugustThe best July in 20 years has set Wall Street up for a tumultuous August, as investors look past the earnings surprises that fueled the run to the economic questions that remain.Source: Business and financial news - CNNMoney.com | 3 Aug 2009 | 3:15 am Stocks headed for gainsU.S. stocks were poised to kick off August on a positive note Monday, as investors took an upbeat view on the economy.Source: Business and financial news - CNNMoney.com | 3 Aug 2009 | 3:15 am UPDATE 1-HIG Capital secures stake in 3i-owned VNU MediaLONDON, Aug 3 (Reuters) - Alternative asset manager HIG Capital has secured a stake in Netherlands-based publisher VNU Media alongside previous owner private equity firm 3i , HIG said on Monday.Source: RSS feed - channel BNewsBusiness | 3 Aug 2009 | 3:14 am Housing market to return to growth by 2014House prices could rise by 20 per cent from 2012 to 2014 as a shortage of properties being built puts pressure on the market, according to forecasts published today. Source: Latest Business News from Times Online | 3 Aug 2009 | 3:13 am Economic Report: Managers' indexes climb in U.K., euro zonePurchasing managers’ sentiment rises in the U.K. and the euro zone during July.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 3:13 am HSBC firsthalf profits fall 51pc as bad debts soarHSBC said profits had more than halved in the first six months of the year after baddebt charges soared.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 3:07 am Barclays profit up 8 percent, bad debts almost doubleLONDON (Reuters) - Barclays Plc fell short of expectations with an 8 percent rise in half-year profit as bad debts at Britain's second biggest bank almost doubled to offset buoyant earnings from its enlarged investment bank.Source: Reuters: Business News | 3 Aug 2009 | 3:04 am World markets edge higher as banks, autos gain (AP)
Source: Yahoo! News: Stock Markets News | 3 Aug 2009 | 3:04 am HSBC profit halves to $5 billion as bad debts jump (Reuters)
Source: Yahoo! News: Business | 3 Aug 2009 | 3:04 am HSBC profit halves to $5 billion as bad debts jumpLONDON (Reuters) - HSBC Holdings Plc, Europe's biggest bank, said its first-half profit halved from a year ago to $5 billion as it was hit by rising bad debts in the United States, Europe and Asia.Source: Reuters: Business News | 3 Aug 2009 | 3:04 am Oil hits one-month high near $71 on econ hopesLONDON (Reuters) - Oil rose to a one-month high near $71 a barrel on Monday as positive Chinese economic data and firmer equities bolstered hopes of economic recovery and higher energy demand.Source: Reuters: Business News | 3 Aug 2009 | 2:55 am Citigroup (C) Needs To Pay Phibro Head His $100 MillionThe inclination of the Administration’s “pay czar” will be to pressure Citigroup (C) not to pay $100 million due to the head of its Phibro energy trading unit. The amount is an embarrassment to Citi and the government which now owns 34% of the large bank. Many members of Congress and the public will looks at [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 2:53 am London stocks rise (AFP)
Source: Yahoo! News: Stock Markets News | 3 Aug 2009 | 2:48 am Barclays and HSBC lend support to FTSE 100London equities rose after the UK's two biggest banks opened the reporting season for the UK sector with interim results that were well received by investors.Group level profits at Barclays rose year-on...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 2:46 am Investment banking drives Barclays profit up 10%U.K. bank Barclays' first-half net profit rises 10%, as growth from its investment banking arm helps offset rising bad-debt charges, though the result falls short of market expectations.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 2:45 am Everbright to raise up to $1.6bn in IPOEverbright Securities, China's tenth largest brokerage by market share, plans to raise up to $1.6bn in a revived initial public offering in Shanghai amid a rush of offerings following the lifting of a...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 2:44 am Panasonic loss beats consensus, outlook unchangedTOKYO (Reuters) - Japan's Panasonic Corp reported a smaller-than-expected quarterly loss and sharply lifted its half-year outlook as it cuts costs to cope with a firmer yen and weak TV sales, but stuck to its outlook for a second annual net loss.Source: Reuters: Business News | 3 Aug 2009 | 2:44 am Stock futures signal gains; car sales data eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 3 Aug 2009 | 2:39 am Stock futures signal gains; car sales data eyed(Reuters) - Stock index futures pointed to a higher open on Wall Street on Monday, tracking gains in Asia and Europe on mounting hopes that the global recession is abating.Source: Reuters: Business News | 3 Aug 2009 | 2:39 am Stock futures signal gains; car sales data eyed (Reuters)
Source: Yahoo! News: Business | 3 Aug 2009 | 2:39 am Ford says it will post July sales riseFord Motor Company saw an increase in July domestic sales -- the first monthly sales gain for a major automaker since the financial crisis began, a Ford official told CNN Radio on Sunday.Source: Business and financial news - CNNMoney.com | 3 Aug 2009 | 2:32 am Panasonic slips to quarterly lossTOKYO, Aug 3 Japan's Panasonic reported a smaller-than-expected quarterly loss as it cut costs to fight a firmer yen and weak TV and digital camera demand, and it stood by its annual outlook for its net...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 2:23 am German trial for Kohl-era figureCanada allows the extradition to Germany of a businessman who figured in a Kohl-era political fund-raising scandal.Source: BBC News | Business | World Edition | 3 Aug 2009 | 2:15 am Home owners 'face five years of negative equity'Some home owners could be stuck in negative equity for at least another five years as the property market struggles to bounce back grim figures predict.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 2:09 am Is job loss protection worth it?Call it anxiety marketing. Sellers of big-ticket items have been rolling out special deals that basically amount to layoff insurance. The gist: If you're let go soon after making a purchase, the company will either help you with the tab or let you wiggle out of the obligation.Source: Business and financial news - CNNMoney.com | 3 Aug 2009 | 2:08 am Barclays ahead 8% at halfwayThe profitability of Barclays Capital, the investment banking arm of Barclays, doubled in the first half of 2009 to 1.047bn but could not stop the group's profit from missing expectations.Barclays said...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 2:06 am Banks and China lift equities to 2009 high (Reuters)
Source: Yahoo! News: Stock Markets News | 3 Aug 2009 | 2:05 am China: Still A Phantom Expansion?China’s manufacturing sector expanded again in July, according to the central government. The official Purchasing Managers’ Index rose to a seasonally adjusted 53.3 in July from 53.2 in June, the Federation of Logistics and Purchasing said, according to Bloomberg. Exports moved up by a small fraction. The question that almost every analyst engaged in watching the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 2:02 am Media Digest 8/3/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: Video games hope to make a comeback with new titles and price cuts. Reuters: “Cash for clunkers” should help July car figures. Reuters: USB (UBS) shares should do well after it settled with the US. Reuters: China’s build-up in commodities inventory could hurt future prices. Reuters: The July ISM should be up but still below the benchmark of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 2:00 am 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 | 3 Aug 2009 | 1:56 am Bonuses to double as banks post multi-billion pound profitsThe two British banking giants which turned down taxpayer funds during last year's banking bailout both posted multi-billion pound profits today for the first six months of the year, demonstrating their resilience in the face of the credit crunch and global recession. Source: Latest Business News from Times Online | 3 Aug 2009 | 1:56 am Europe Markets: Banks help Europe to gains at start of new monthEuropean shares traded higher on Monday, with banks advancing after reports that UBS may avoid a fine from the U.S. and Barclays reported a profit.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 1:55 am Goldman losing its luster, survey saysSource: Business and financial news - CNNMoney.com | 3 Aug 2009 | 1:53 am Panasonic net loss beats forecastsJapan's Panasonic reports a smaller-than-expected loss and upwardly revises its half-year net outlook, citing its cost-cutting measures.
Source: MarketWatch.com - Top Stories | 3 Aug 2009 | 1:48 am Prickly profitsWhy the cactus has become big business in MoroccoSource: BBC News | Business | World Edition | 3 Aug 2009 | 1:45 am Barclays hands out big bonuses after bumper profitsBarclays has paid its staff 36pc more in salaries and bonuses than last year after profits doubled in its investment banking division.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 1:45 am Retail sales fall back in GermanyGerman retail sales fall by 1.8% in June from a month earlier, despite many analysts expecting a slight rise.Source: BBC News | Business | World Edition | 3 Aug 2009 | 1:29 am Asia Markets And Europe Open 8/3/2009Markets in Asia were mixed. The Nikkei fell a fraction of a percent to 10,352. Toyota (TM) rose on Ford’s (F) strong July numbers. The Hang Seng rose .2% to 20,620. The Shanghai Composite rose 1.5% to 3,453. At the open in Europe, the FTSE was down .7% to 4,590. Barclays (BCS) and HSBC (HBC) were down. The Dax [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 3 Aug 2009 | 1:24 am Ahmadi-Nejad gains approval for second termAyatollah Ali Khamenei, Iran’s supreme leader, has formally approved the president’s second term despite ongoing controversy over the disputed June 12 electionSource: Financial Times - US homepage | 3 Aug 2009 | 1:22 am Mitchells & Butlers names Fowle as chief executiveMitchells & Butlers the owner of the All Bar One pub chain named Adam Fowle as chief executive.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 1:17 am Barclays profits hit £2.98bnBad debts double but strong earnings from investment bank sees salaries and bonuses rise 31pcSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 1:06 am Jeff Gaspin cast in the spotlight at NBC UniversalThe new chairman of NBC Universal Television Entertainment, Gaspin started out tracking local ads for the network's stations in 1984. He's held plenty of supporting roles along the way.Not long ago, Jeff Gaspin was known inside NBC Universal as a "man without a country." The executive floated from job to job, collecting clunky titles such as executive vice president for alternative series, longform, specials and program strategy.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am Paramount Pictures waves the flag for 'G.I. Joe'In a highly atypical marketing campaign, the studio sidesteps the traditional Hollywood showcase in favor of taking the film directly to America's heartland.Nearly 1,000 service members and their families at Andrews Air Force Base in Maryland got to see something Friday night that very few people in Hollywood have seen -- "G.I. Joe: The Rise of Cobra," the last big-budget action movie of the summer.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am What's so great about private health insurance?The bloody battle in Congress over a 'public option' ignores the insurers' role in creating the nation's healthcare crisis and their efforts to throttle reform.Throughout the heroic struggle in Congress to provide a "public option" in health insurance, one question never seems to get answered: Why are we so intent on protecting the private option?
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am The week ahead, at a glanceThe week ahead MONDAY * The Institute for Supply Management releases its manufacturing index for July.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am 'Cash for clunkers' interest remains high even as funds dwindleCar dealers, though frustrated by details of the car rebate program, rejoice amid crowds of customers. Monthly auto sales reports should indicate just how popular the program has been.Auto dealers found themselves in an unusual situation over the weekend: crowds of anxious buyers and a dwindling supply of cars.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am Calorie-listing bill spawns industry fightA restaurant trade group and big chains are at odds over how many eateries should be subject to a proposed federal law requiring that menus include the calorie counts of meals.A food fight is brewing over legislation in Washington that would require restaurants to post calories on menus.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am Not many laughs for Sandler's 'Funny People''Funny People' draws tepid interest during a slow weekend overall at the box office."Funny People" needs a jolt of box-office testosterone.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am Calorie-listing bill spawns industry fightA restaurant trade group and big chains are at odds over how many eateries should be subject to a proposed federal law requiring that menus include the calorie counts of meals. ...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 1:00 am Brief pullback wouldn't be surprising, analysts sayInvestors await reports on employment as well as the manufacturing and service sectors. Last month's rally may have given stocks a foundation that will help Wall Street weather bad news.After soaring on upbeat corporate earnings and forecasts, Wall Street might be able to stay positive even amid signs that the economy is still struggling.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am The week ahead, at a glanceThe week ahead MONDAY * The Institute for Supply Management releases its manufacturing index for July.Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 1:00 am Pension repayment plan could throw L.A.'s budget into disarrayThe system's general manager urges 'prudent' repayment in 5 years, not 15. The money would come from employees or the city's general fund.A high-level Los Angeles pension official has recommended that the city pay off the cost of an employee early retirement package 10 years sooner than previously planned -- a move that threatens to throw the city's budget into disarray.
Source: L.A. Times - Business | 3 Aug 2009 | 1:00 am 'Cash for clunkers' interest remains high even as funds dwindleCar dealers, though frustrated by details of the car rebate program, rejoice amid crowds of customers. Monthly auto sales reports should indicate just how popular the program has been. ...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 1:00 am Jeff Gaspin cast in the spotlight at NBC UniversalThe new chairman of NBC Universal Television Entertainment, Gaspin started out tracking local ads for the network's stations in 1984. He's held plenty of supporting roles along the way. ...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 1:00 am Yoga mats in the Dodger Stadium outfieldTo enhance revenue, professional sports teams are putting a new spin on marketing pitches. Want to work as a groundskeeper? Or take a cruise to the Bahamas? ...Source: RSS feed - channel BNPaperBusiness | 3 Aug 2009 | 1:00 am UBS shares seen rallying after U.S. tax deal (Reuters)
Source: Yahoo! News: Business | 3 Aug 2009 | 12:57 am UBS shares seen rallying after U.S. tax dealZURICH (Reuters) - Shares in UBS are expected to rise on Monday after reports the bank would not have to pay a fine as part of the settlement of a tax dispute with the United States that is to be finalized later this week.Source: Reuters: Business News | 3 Aug 2009 | 12:57 am Sharemarket rises despite receivership newsThe New Zealand sharemarket made moderate gains today on sustained confidence even though Eftpos company ProvencoCadmus was placed in receivership. The benchmark NZX-50 index closed up 31.646 points, or 1.049 per cent, at 3047.849....Source: New Zealand Herald - Business | 3 Aug 2009 | 12:50 am China urges 'respect' in Rio caseBeijing calls on Australia to "respect" its legal system, as it probes allegations of bribery by workers at Rio Tinto.Source: BBC News | Business | World Edition | 3 Aug 2009 | 12:26 am China reliance a risk for commodities: Roubini (Reuters)
Source: Yahoo! News: Stock Markets News | 3 Aug 2009 | 12:24 am China reliance a risk for commodities: RoubiniKALGOORLIE, Australia (Reuters) - China may have overstocked on commodities, risking a slowdown in buying and a correction in prices in the second half of this year, top economist Nouriel Roubini said on Monday, also reiterating that the global recession would continue until year-end.Source: Reuters: Business News | 3 Aug 2009 | 12:24 am Commodity prices set to rise further Roubini saysCommodity prices may extend their rally in 2010 as the global recession abates said Nouriel Roubini the New York University economist who predicted the financial crisis.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Aug 2009 | 12:13 am Clunker trade-ins to boost July U.S. auto sales (Reuters)Reuters - The punishing four-year decline in U.S. auto sales may have reached a turning point this week -- just as Michael Papa handed over the keys to his 1996 Ford Explorer for a government-sponsored trade-in.Source: Yahoo! News: Business | 2 Aug 2009 | 11:56 pm Clunker trade-ins to boost July U.S. auto salesDETROIT (Reuters) - The punishing four-year decline in U.S. auto sales may have reached a turning point this week -- just as Michael Papa handed over the keys to his 1996 Ford Explorer for a government-sponsored trade-in.Source: Reuters: Business News | 2 Aug 2009 | 11:56 pm Chinese developers line up for HK listings: report (AFP)
Source: Yahoo! News: Stock Markets News | 2 Aug 2009 | 11:40 pm Barclays HSBC results throw bonuses under spotlightBankers' bonuses will come under scrutiny today as Barclays unveils bumper halfyear profits and HSBC also reports profits.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Aug 2009 | 11:29 pm Bartz: Yahoo to focus on display ad, content businesses: report(Reuters) - Yahoo Inc, which last week announced a Web search deal with Microsoft Corp, will invest money from reduced marketing and infrastructure costs into its display ad, content and mobile services technology, its chief executive Carol Bartz told the New York Times in an interview.Source: Reuters: Business News | 2 Aug 2009 | 11:20 pm Eftpos company Provenco Cadmus in receivershipEftpos company ProvencoCadmus has gone into receivership. An announcement has just been made from receivership company KordaMentha that Michael Stiassny and Brendon Gibson have been appointed receivers. The company's shares...Source: New Zealand Herald - Business | 2 Aug 2009 | 10:00 pm Are You Paid Well? Three Sites That TellWith the jobless rate near 10 percent, employers enjoy all the leverage; some require applicants to specify salary demands before they’ve even had an interview. We looked at three Web sites that provide compensation data to see if they offer useful intelligence. SALARY.COMThe site’s free data, based on information it buys from corporations, provides only a bell curve of the average salaries for each of the 3,700 job categories (for example, Accountant II or Reporter III, based on the job description). It left us guessing which percentile we fit into and whether the category was too broad to be helpful. A company spokesperson says the most common mistake users make is choosing the wrong category. A more personalized report factors in details like education and experience but costs $29.95 for entry-level candidates and up to $79.95 for executives. Sadly, it gave our “estimated market value” as 20 percent less than our current pay. PAYSCALE.COMJust to get started, we had to spend five minutes filling out a profile, since all data here comes from users, not companies. In theory that means the data could be unreliable. The company says users have no incentive to lie, and indeed, we didn’t notice a big difference between these numbers and Salary .com’s. We liked the feature that allowed us to peruse salaries and bonuses of other individuals who had filled out profiles. Bios can be as much as a year old, however, which could matter in a fast-moving economy. For $19.95, the premium membership allows users to research up to 10 job descriptions, as opposed to four in the free version. JOBNOB.COMThis startup, launched in February, claims to differ from the two industry leaders above by showing actual salaries of current employees. (The site’s cofounder Julie Greenberg says she doesn’t purchase the data but won’t say where she gets it.) One big plus: All the information is free, as the site aims to make money from job listings. But currently, it features just 4 million job profiles, compared with 16.5 million for Payscale.com, and offerings seemed sparse in all the categories we checked. Greenberg says jobs are being added rapidly. 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 | 2 Aug 2009 | 10:00 pm Has the Market Gotten Ahead of the Recovery? (Pundit Watch)Moderation in all things is usually a good thing, but our pundits see too much of it in the nascent economic recovery -- and not enough of it among equity investors. Stocks closed out July with their best performance for that month since 1989, as the Dow Jones Industrial Average gained more than 700 points. Although the recession is ebbing, many earnings reports showed strength and recent economic data allowed for some optimism, bearish market watchers weren't ready to bet the ranch on recovery. "While we are past the most pronounced part of the downturn, it may still be premature to call for the end of the recession merely because of the prospect of a positive third-quarter GDP result," Gluskin Sheff chief economist David Rosenberg wrote on Friday. "And even if the recession is ending, as we saw in 2002, that does not guarantee a durable rally in risk assets. Sustainability is the key, and it remains the wild card." Morgan Keegan economist Donald Ratajczak said that the spate of positive earnings news -- with about 40% of the S&P index's names reporting, earning per share were up about 11% from the year ago quarter -- would be tough to replicate. Most gains came from cost cutting, not organic growth, and that has its limits, Ratajczak warned. "Unfortunately, those favorable profit margins are caused by the elimination of marginal activities," the economist wrote July 27. "This provides a one-time enhancement to margins and productivity that will not be sustained even as surprised analysts will begin to think that it will." Ed Yardeni, founder of Yardeni Research, notes that good earnings news -- even if it’s only due to cost cuts -- is welcome indeed, since those measures have had the intended effects. "Businesses always cut costs during recessions in an effort to maintain profitability when their sales are weakening," he wrote July 27. "This sets the stage for higher profit margins and profits when revenues stage a cyclical recovery. In other words, it’s not different this time. It will be different only if the economy and sales don’t recover. The stock market discounts the future, and it is predicting that better-than-expected earnings now will be followed by a recovery in revenues, and more positive earnings surprises." But for a real recovery to take hold, people need to go back to work. Pimco's Bill Gross warns that getting them there will be a "Herculean task," even if the four-week average of jobless claims is shrinking. "Common sense tells us that consumer spending growth comes from highly employed, well-compensated labor, and we are far, far from even approaching that elemental condition," he wrote in his August investment outlook. "The fact is that near double-digit unemployment has resulted from numerous business models that are now broken: autos, home construction, commercial real estate development, finance, and retail sales." The global research desk at Societe Generale wasn't quite as harsh in assessing the Thursday conclusions of the Fed's Beige Book, but it still offered a tempered view that's appropriate for a modest, uneven recovery. "The Beige Book rarely alters the economic outlook, but anecdotal stories do add color to the data," the report said. "In the latest report, the pace of declines in economic activity has moderated even though levels remain weak. The two major areas of improvement include manufacturing and residential real estate. On the downside, consumption and employment conditions are still reported as being very weak." The situation remains firmly on the "less bad" side of the economic equation, but every positive earnings result inches closer to genuine good news. 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 | 2 Aug 2009 | 10:00 pm Card Issuers' Latest Trick: Rate Formula Swaps (Consumer Action)As banks prepare to implement a new credit card law in February, cardholders might find themselves holding, well, different cards. Credit-card issuers have been slowly switching their fixed-rate cards to variable-rate ones. The annual percentage rates on these cards are tied to (and thus fluctuate with) broader market interest rates. In June, Bank of America (BAC) and Chase (JPM) notified some cardholders that their rates were being converted, citing market conditions. Discover (DFS) made a similar move in March. And earlier this month, Arkansas-based Simmons First -- known for its low 7.25% fixed-rate card -- also changed its cards to charge interest using a variable rate. Although the switch puts issuers in a better business position, it also enables them to skirt rules in the Credit CARD Act of 2009 that allow interest rate increases only on new purchases and require issuers to notify cardholders of rate changes 45 days in advance, says Dennis Moroney, a senior analyst for Tower Group, a financial services consulting firm that follows issuers’ business models. (For more on the reforms, click here.) The result: Your APR for old balances and new purchases is guaranteed to rise, as interest rates rebound from historic lows. “I’m frankly surprised the legislation was written that way,” says Greg McBride, senior financial analyst for Bankrate.com. “It’s more than just a loophole -- it’s big enough to drive a truck through.” Hunting for the rare fixed-rate card may prove fruitless. “Fixed-rate cards are a dying breed,” says Curtis Arnold, founder of credit-card comparison site CardRatings.com. Major issuers have stopped offering fixed-rate cards to new cardholders, and many smaller banks and credit unions are following suit. Variable-rate cards now dominate the market, accounting for roughly 90% of accounts, he says. (If there’s any consolation, fixed-rate cards aren’t really fixed, as consumers have discovered in recent months. “It’s more of a marketing ploy than anything,” says Arnold.) Although a variable-rate card offers less control, you can limit your risk by hunting for a small margin -- the fixed portion of the APR tied to a variable index (usually the Federal Reserve’s prime rate, currently 3.25%). If issuers want to increase that set portion of the APR, they will have to follow CARD Act protections regarding cardholder notification and rate-increase restrictions, McBride says. Here’s a sampling of cards with low variable rates and manageable margins: Low-Rate, Variable-Rate CardsAmerican Express Blue Cash
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Citi Forward
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Discover More
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Iberiabank Visa Classic
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PartnersFirst Cash Back Visa
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Simmons First Visa Platinum
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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 | 2 Aug 2009 | 10:00 pm Life Pharmacy, Amcal and Unichem to mergeUnichem, Amcal and Life Pharmacy are uniting in New Zealand in an agreed takeover to face growing competition from other retailers and grocery traders. Listed retail group Life Pharmacy is paying 39.783 of its shares for every...Source: New Zealand Herald - Business | 2 Aug 2009 | 9:30 pm Economist's warning: Oil supplies are running out fastThe world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned. Higher...Source: New Zealand Herald - Business | 2 Aug 2009 | 7:30 pm Nikkei eases after 10-mth closing high, banks climb (Reuters)Reuters - Japan's Nikkei average inched down 0.1 percent on Monday, with investors cautious ahead of more corporate earnings reports, but banks rose after Mitsubishi UFJ Financial Group (8306.T) posted its first profit in three quarters.Source: Yahoo! News: Stock Markets News | 2 Aug 2009 | 7:29 pm Heavy losses cast doubt over future of The ObserverThe future of The Observer, the world’s oldest Sunday newspaper, was in doubt last night, after its parent company refused to deny that it was considering closing the 218-year-old title. Source: Latest Business News from Times Online | 2 Aug 2009 | 6:07 pm Heavy losses cast doubt over future of The ObserverThe future of The Observer, the world’s oldest Sunday newspaper, was in doubt last night, after its parent company refused to deny that it was considering closing the 218-year-old title. Source: Latest Business News from Times Online | 2 Aug 2009 | 6:07 pm Experian chief Don Robert has the future firmly in his sightsDon Robert is explaining why the sub-prime loan crisis wasn’t his company’s fault. He runs Experian, which offers creditscoring services allowing banks and others to assess individuals’ creditworthiness. Source: Latest Business News from Times Online | 2 Aug 2009 | 6:00 pm India looks to the sun for ambitious surge in green powerFor centuries Hindus have revered the sun god, Surya, as a source of health and prosperity, building lavish temples and holding festivals in his honour across a country with more than 300 days of sunshine a year. Source: Latest Business News from Times Online | 2 Aug 2009 | 6:00 pm SSE protests as it misses out on wind-farm subsidyOne of Britain’s biggest energy companies will miss out on renewable energy subsidies worth more than half a billion pounds because it placed an order to buy equipment for a huge offshore wind farm too early. Source: Latest Business News from Times Online | 2 Aug 2009 | 6:00 pm Virgin Media mulls over secondary UK listingVirgin Media is considering a secondary listing in London to end the mismatch between its stock market listing in the US and its geographic operations in the UK. Source: Latest Business News from Times Online | 2 Aug 2009 | 6:00 pm NZ jobless rate probably rose to 5.6pc as workers shedNew Zealand's unemployment rate probably rose to a seven-year high in the second-quarter as companies and government departments shed jobs to cut costs in the worst economic slump for 30 years. The jobless rate rose to 5.6 per...Source: New Zealand Herald - Business | 2 Aug 2009 | 5:30 pm Trading halt on ProvencoCadmus sharesA trading halt has been placed on the shares of technology company ProvencoCadmus, NZX said. The halt was at the request of ProvencoCadmus and was pending a material announcement relating to the company. On Friday, ProvencoCadmus...Source: New Zealand Herald - Business | 2 Aug 2009 | 5:03 pm Aus job ads fall for 15th straight monthAustralian jobs advertisements fell in July for the fifteenth consecutive month as employers continued to shun hiring new staff. But the rate of decline has slowed, in a tentative sign that job ads may soon stabilise. The ANZ...Source: New Zealand Herald - Business | 2 Aug 2009 | 5:00 pm US car buyers prefer smaller vehiclesUS car scrappage incentives appear to have spawned a dramatic shift in Americans’ car-buying habits, with most participants in the ‘cash-for-clunkers’ scheme trading in old sport-utility vehicles and pick-up trucks for small carsSource: Financial Times - US homepage | 2 Aug 2009 | 5:00 pm Moderate lift for NZ sharesThe New Zealand sharemarket made moderate early gains as top stock Telecom lifted 5c. Around 10.20am the benchmark NZX-50 index was up 10 points to 3026.21, after gaining 22.2 points on Friday. The 1.8 per cent rise in Telecom...Source: New Zealand Herald - Business | 2 Aug 2009 | 4:47 pm Student on top of embarrassing problemA Waikato University student has made a possible breakthrough for lactose-intolerant people who find the common substitute for cows' milk causes flatulence. Biochemical engineering masters student Anila Rajan is researching the...Source: New Zealand Herald - Business | 2 Aug 2009 | 4:30 pm Gilt market fears MPC will freeze quantitative easingBond traders nervously await Bank of England Monetary Policy Committee meeting to see whether policymakers inject another £25bn into the economy.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Aug 2009 | 4:10 pm Wall Street profits from trades with FedWall Street banks are reaping outsized profits by trading with the Federal Reserve, raising questions about whether the central bank is driving hard enough bargains in its dealings with private sector counterparties, officials and industry executives saySource: Financial Times - US homepage | 2 Aug 2009 | 4:04 pm Goldman Sachs’ reputation tarnishedGoldman Sachs’ reputation among both the general public and financially sophisticated Americans has been damaged by the events of the past year, according to research conducted for the Financial Times.Source: Financial Times - US homepage | 2 Aug 2009 | 4:04 pm Private equity groups in $400bn of debtThe world’s biggest private equity groups are sitting on a $400bn debt mountain that needs to be repaid over the next five years, putting the future of some of the largest buy-out deals in doubtSource: Financial Times - US homepage | 2 Aug 2009 | 4:04 pm The Miracle At Ford (F) ContinuesFord (F) made two audacious decisions recently, decisions made in an industry where audacity is a distant memory that died when Lee Iaccoca left the business. William Clay Ford, Jr., the company’s CEO since 2001, went outside the industry and he and Ford’s board brought in Boeing executive Alan Mulally to replace him in September 2006. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 Aug 2009 | 4:00 pm Auckland firm flying high with airport contractAn Auckland firm has won a major contract to help install baggage systems at Chile's Santiago International Airport. System Controls, an industrial automation and electrical design and build company, has won a contract worth about...Source: New Zealand Herald - Business | 2 Aug 2009 | 4:00 pm Nasdaq OMX closes India liaison officeThe transatlantic exchange has closed its liaison office in India, people familiar with the matter have told the Financial Times. The move comes after failing to list any Indian company on its New York-based exchange since it set up a presence in Bangalore, the country’s information technology hub, in 2001.Source: Financial Times - US homepage | 2 Aug 2009 | 3:57 pm Obama’s challenge to sell healthcare reformAt more than 1,000 pages and counting, the healthcare bill is hard to boil down into a bumper sticker messageSource: Financial Times - US homepage | 2 Aug 2009 | 3:56 pm EBay shares could be worth 30 percent more: report (Reuters)
Source: Yahoo! News: Business | 2 Aug 2009 | 3:45 pm Israeli police back Lieberman indictmentForeign minister calls decision ‘baseless’ but attorney-general will make decision on potential charges, including bribery and money launderingSource: Financial Times - US homepage | 2 Aug 2009 | 3:44 pm The people's $2 stimulus packageSome towns are launching their own stimulus efforts to keep local merchants in business. Could a 'buy local' campaign work in your neighborhood?Source: Business and financial news - CNNMoney.com | 2 Aug 2009 | 3:37 pm Sovereign wealth funds return to the fraySovereign wealth funds are regaining their appetite for western markets after a series of disastrous bets in high-profile public companiesSource: Financial Times - US homepage | 2 Aug 2009 | 3:23 pm CNN.com: Grade Obama on the economySource: Business and financial news - CNNMoney.com | 2 Aug 2009 | 2:16 pm Wall Street looks to earnings, jobs to keep rally (AP)
Source: Yahoo! News: Stock Markets News | 2 Aug 2009 | 1:16 pm Wall Street looks to earnings, jobs to keep rally (AP)
Source: Yahoo! News: Business | 2 Aug 2009 | 1:16 pm China's stimulus-fueled stock boom alarms Beijing (AP)AP - The middle-aged crowd in the packed Guosen Securities office jostle around buzzing printers that spit out receipts for their share buys, hoping to cash in on China's stimulus-fueled stock market boom.Source: Yahoo! News: Stock Markets News | 2 Aug 2009 | 11:11 am S&P eyes 1,000; could be ripe for retreat (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Aug 2009 | 8:52 am Guardian Media Group Looks At CutsThe Times of London reports that the Guardian Media Group may close its venerable Observer newspaper. The cuts by the firm may have to go deeper than that based on its most recent financial statements. In the media company’s last fiscal year, revenue fell to 409 million pounds from 502 million the year before when exceptional [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 Aug 2009 | 5:59 am
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