World Business News Headlines for August 10, 2009

Morgan Sindall bolsters hope of building upturn

Morgan Sindall, the construction group, bolstered hopes of a property upturn today, announcing "encouraging signs of improvement" in the sector, despite unveiling a 28 per cent fall in profits.

Source: Latest Business News from Times Online | 10 Aug 2009 | 4:34 am

Earnings Watch: Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies are saying about future quarters.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 4:31 am

Wealthworkout; The latest savings deals

Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Aug 2009 | 4:30 am

Europe Markets: Autos weigh as Europe shares pare recent gains

European shares decline for the first time in three sessions on Monday, with German auto giants Daimler and Volkswagen dragging after getting downgrades.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 4:21 am

Thai Banpu Q2 net profit up 73 pct, beats forecasts

BANGKOK, Aug 10 (Reuters) - Thailand's top coal miner, Banpu , said on Monday its second-quarter earnings rose a higher-than-expected 73 percent due to rising coal prices and strong income from its 50...
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 4:15 am

New Stock Offerings Could Help Cause 30% Market Correction

Mark Mobius, a senior portfolio manager at Templeton, has been making market predictions for decades and is widely regarded for being good at it. He tells Bloomberg that global markets are in for as much as a 30% correction this year after rising nearly 70% in some countries. Part of the reason Mobius believes the markets will [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 4:12 am

UPDATE 4-China's Yanzhou Coal nears Felix takeover-source

* Felix, Yanzhou reach agreement on potential deal-source
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 4:10 am

Oil slips below $71, inventories, dollar in focus

LONDON (Reuters) - Oil prices dipped below $71 a barrel on Monday, losing momentum after last week's rally as traders focused on swollen inventories and prospects for a stronger dollar.

Source: Reuters: Business News | 10 Aug 2009 | 4:07 am

Rio Tinto shares drop on China spy allegations

CANBERRA (Reuters) - Shares in global miner Rio Tinto Ltd fell more than 3 percent on Monday after China stepped up its spying allegations against the company, although Australia's Foreign Ministry said the latest accusations were nothing new.

Source: Reuters: Business News | 10 Aug 2009 | 4:02 am

'World's most annoying Web site'

Social-networking site Tagged.com has become a target of New York Attorney General Andrew Cuomo and the bane of a multitude of customers.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 4:02 am

Oil prices dip

Oil prices eased on Monday as concerns over the pace of economic recovery persisted despite better-than-expected US unemployment data, analysts said. New York's main contract, light...
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:56 am

Indications: U.S. stock futures ease after Friday's rally

U.S. stock futures edge lower on Monday as traders lock in profits following the positively received jobs report in the previous session.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 3:56 am

Negotiating Car Prices On eBay (EBAY)

eBay (EBAY) and GM are setting up a program in California that will allow consumers to negotiate prices for new cars online. Potential customers can also set up financial packages to buy a new car and pick out the make and model. The program would seem to be a good idea for getting new buyers to [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 3:52 am

Hang Seng, Nikkei post solid gains in Asian rally

A weaker yen and robust economic data boost Japanese stocks Monday, while mainland Chinese markets fall for a fourth straight session on worries Beijing will impose restrictions on property transactions.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 3:51 am

RBS leads FTSE retreat

Bank and mining shares led a stock market retrenchment today with the FTSE 100 succumbing to profit taking after closing at a 10-month high on Friday.

Source: Latest Business News from Times Online | 10 Aug 2009 | 3:50 am

Signs of stabilization at BAA's airports in July

BAA, Britain’s largest airport operator, says passenger numbers fell again in July.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 3:46 am

Economists predict home price dip

UK house prices will fall by a further 3% this year before recovering slightly in 2010, an economists' group says.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 3:38 am

China Shenhua to spend $4.4 bln to double output

HONG KONG, Aug 10 (Reuters) - China Shenhua Energy Co , the country's top coal miner, plans to spend 30 billion yuan ($4.39 billion) to double its annual output to 400 million tonnes by 2015, a senior...
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:37 am

China claims mining giant ripped it off

China has leveled new allegations in the arrest of employees of one of the world's largest mining companies, saying Rio Tinto overcharged Chinese steel mills by $100 million over six years.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 3:37 am

Overdraft Fees: The Endless Profit Center For Banks

There are so few profit centers that banks can count on anymore. Many of the largest financial firms are still losing money on derivatives. Consumer credit default rates are rising. Commercial real estate may be the Armageddon for some banks. The only recent bright spot for financial firms last quarter was investment banking. That may [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 3:37 am

Gas prices jump 15 cents in 2 weeks

Gasoline prices rose more than 15 cents in the past two weeks, the result of rising crude oil prices, according to a survey published Sunday.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 3:37 am

Heathrow enjoys passenger pick-up

Heathrow enjoyed its third-busiest month on record in July, says owner BAA, giving a boost to the struggling airline industry.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 3:36 am

Wall Street vulnerable after the surge

Markets have spiked nearly 50% in less than five months -- that's both good and bad.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 3:35 am

Rate of job cutting 'is slowing'

The pace of deterioration in the job market has slowed, but public sector jobs are increasingly under threat, a survey suggests.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 3:35 am

Stocks set for tepid open

U.S. stocks are expected to open lower Monday, as investors expressed caution following a rally that has pushed stocks to nine-month highs.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 3:33 am

Deals of the day -- mergers and acquisitions

**Finnish publisher Alma Media Oyj made a mandatory offer on Monday for all shares in Talentum , valuing the smaller rival at 81.9 million euros ($117.6 million). [ID:nLA132792]
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:32 am

Swiss cabinet meets on UBS as U.S. tax talks drag (Reuters)

Reuters - The Swiss government held a special session on Monday to discuss the U.S. tax evasion case hanging over Swiss bank UBS as negotiations to settle the issue dragged on.

Source: Yahoo! News: Business | 10 Aug 2009 | 3:21 am

Swiss cabinet meets on UBS as U.S. tax talks drag

ZURICH (Reuters) - The Swiss government held a special session on Monday to discuss the U.S. tax evasion case hanging over Swiss bank UBS as negotiations to settle the issue dragged on.

Source: Reuters: Business News | 10 Aug 2009 | 3:21 am

Friends backs new offer from Resolution

Friends Provident will recommend to its shareholders an improved offer for the business made by Clive Cowdery's Resolution vehicle, the insurance group said on Monday. Shares in Friends Provident rose...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 3:13 am

UBS advising Yanzhou on potential Felix deal-sources

SYDNEY, Aug 10 (Reuters) - China's state-owned Yanzhou Coal is being advised by Swiss bank UBS on a potential takeover of Australian coal producer Felix Resources Ltd , two sources with familiar with...
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:12 am

Mitsubishi Chemical in talks to buy rival

Mitsubishi Chemical, Japan's biggest chemicals manufacturer, is considering spending as much as Y200bn ($2bn) to acquire the acrylic resin maker Mitsubishi Rayon in an effort to diversify into higher-margin...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 3:11 am

Cut The Stimulus Package To Decrease The Deficit

American GDP growth was much better than expected in the second quarter of the year, falling only 1%. Unemployment statistics were surprisingly good as the jobless rate actually improved from 9.5% in June to 9.4% in July. These pieces of good news and other data marking the recession’s end have caused a number of experts [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 3:10 am

Banks line up for more money

For some banks, the grim reality is that another dose of TARP may be their best shot at salvation.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 3:08 am

Rio shares fall on China claims

Shares in mining firm Rio Tinto slip 3% after China intensifies its spying allegations against the company.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 3:07 am

UPDATE 4-Mitsubishi Chem to buy Mitsubishi Rayon -Nikkei

* Mitsubishi Chem says "won't deny" considering acquisition
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:06 am

UPDATE 1-Thomson aims to sell Grass Valley by Sept -report

PARIS, Aug 10 (Reuters) - Shares in French media technology group Thomson gained more than 8 percent on Monday after a press report said it was close to clinching the sale of its digital film and broadcasting...
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:04 am

UPDATE 1-Thomson aims to sell Grass Valley by Sept -report

ICE Clear Europe Clears Euro 32 Billion in Second Week of European CDS Processing

LONDON, Aug. 10 /PRNewswire-FirstCall/ -- IntercontinentalExchange((R)) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and...
Source: RSS feed - channel BNewsBusiness | 10 Aug 2009 | 3:00 am

$1.2 trillion down the drain

Down the drain: $1.2 trillion.
Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 2:57 am

China Misplaces $100 Billion And Puts On Brass Knuckles

China lost a great deal of its credibility in the world business markets when it accused several Rio Tinto (RTP) employees of industrial espionage. The accusations were vague. Australia, Rio Tinto’s home country, pressured the Chinese for details about the charges and got nothing. The Chinese charges came within weeks of Rio Tinto rejecting a $21 [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 2:56 am

Asian stocks up as US, Japan data boost confidence (AP)

AP - Asian stock markets were mostly higher Monday as better-than-expected news about U.S. job losses and Japan's business spending kindled hopes the world's two largest economies were recovering. European markets fell.

Source: Yahoo! News: Stock Markets News | 10 Aug 2009 | 2:55 am

Rio Tinto shares drop on China spy allegations (Reuters)

Reuters - Shares in global miner Rio Tinto Ltd fell more than 3 percent on Monday after China stepped up its spying allegations against the company, although Australia's Foreign Ministry said the latest accusations were nothing new.

Source: Yahoo! News: Business | 10 Aug 2009 | 2:54 am

London Markets: RBS and Lloyds drop in London

Royal Bank of Scotland and Lloyds shares drop in London.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 2:47 am

Stock futures signal dip after 4-week surge

(Reuters) - Stock index futures pointed to a lower open on Wall Street on Monday, as investors look set to book profits after a sharp four-week rally.

Source: Reuters: Business News | 10 Aug 2009 | 2:44 am

India's July car sales jump 31%

Sales of passenger cars in India have risen by 31% as new launches and lower interest rates boost demand.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 2:43 am

Stock futures signal dip after 4-week surge (Reuters)

Reuters - Stock index futures pointed to a lower open on Wall Street on Monday, as investors look set to book profits after a sharp four-week rally.

Source: Yahoo! News: Stock Markets News | 10 Aug 2009 | 2:38 am

Stock futures signal dip after 4-week surge (Reuters)

Reuters - Stock index futures pointed to a lower open on Wall Street on Monday, as investors look set to book profits after a sharp four-week rally.

Source: Yahoo! News: Business | 10 Aug 2009 | 2:38 am

Japan's Toshiba joins Blu-ray camp, post-HD-DVD

TOKYO (Reuters) - Japan's Toshiba Corp said on Monday that it will join the Blu-ray Disc Association -- its former enemy in a bitter format war -- to make blu-ray players by year-end to tap demand for high-definition home movies.

Source: Reuters: Business News | 10 Aug 2009 | 2:37 am

TSMC, UMC July sales show rising chip demand

TAIPEI (Reuters) - Rising July sales at TSMC and UMC , the world's two biggest contract chip makers, provided further evidence of reviving demand for computers and other consumer gadgets.

Source: Reuters: Business News | 10 Aug 2009 | 2:33 am

London shares fall from 10-month highs

Renewed bid activity in the insurance sector failed to provide momentum for overall equity market gains in London on Monday as investors looked to take profits.Friends Provident, the insurer locked in...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 2:28 am

Heathrow airport defies recession with third busiest month on record

UK's biggest airport defies recession as it clocks up thirdbusiest month on record in July.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Aug 2009 | 2:23 am

Currencies: Dollar loses ground to yen in Asia

The dollar slips against the yen in Asian trading, after Japanese government data show core machinery orders jumped.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 2:20 am

Dynegy to sell 9 U.S. power plants to LS Power : report

(Reuters) - U.S. power producer Dynegy Inc will sell nine U.S. power plants to its one-time development partner LS Power Associates L.P, the Wall Street Journal said on Monday.

Source: Reuters: Business News | 10 Aug 2009 | 2:16 am

Dynegy to sell 9 U.S. power plants to LS Power : report (Reuters)

Reuters - U.S. power producer Dynegy Inc will sell nine U.S. power plants to its one-time development partner LS Power Associates L.P, the Wall Street Journal said on Monday.
Source: Yahoo! News: Business | 10 Aug 2009 | 2:15 am

Paulson's crisis actions under scrutiny

Source: Business and financial news - CNNMoney.com | 10 Aug 2009 | 2:13 am

China says Rio spying has cost it $100bn

Beijing has accused mining group Anglo-Australian miner Rio Tinto of spying on its steel industry for six years, a move that indicates the detention of four Rio employees on accusations of stealing state secrets could be the start of a widening campaign rather than an isolated case
Source: Financial Times - US homepage | 10 Aug 2009 | 2:13 am

China says Rio spying has cost it $100bn

China has accused Rio Tinto of spying on its steel industry for six years, costing the country Rmb700bn ($102bn) in excessive charges for iron ore and highlighting the need for Beijing to overhaul the...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 2:13 am

NZ currency: Dollar starts week stronger

The New Zealand dollar rose today after bouncing around during the weekend reflecting movements in the US dollar. The NZ dollar was US67.35c at 5pm, up from US66.99c at 8am. The NZ dollar spiked to a fresh 10 month high of US68c...
Source: New Zealand Herald - Business | 10 Aug 2009 | 2:08 am

NZ stocks: Market starts week firmly

The New Zealand sharemarket started the week firmly, with the reporting season under way and with offshore equity markets rising. Still, the market had a hesitant tone ahead of the Fletcher Building annual result on Wednesday and...
Source: New Zealand Herald - Business | 10 Aug 2009 | 2:06 am

Brett Arends' ROI: Kindle's Betamax danger

Amazon may find its Kindle book reader going the way of Betamax.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 2:04 am

Friends Provident shares jumps on improved Resolution offer fresh talks

Friends Provident shares jumped on confirmation that the insurer had agreed to fresh talks with Resolution following an improved proposed offer.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Aug 2009 | 2:02 am

Media Digest 8/10/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters: China is now Africa’s largest trading partner. Reuters: Australia says China’s latest Rio Tinto (RTP) charges are not new. Reuters: Publicis will buy Razorfish from Microsoft (MSFT). Reuters: UBS (UBS) tax talks with the US have hit a roadblock. Reuters: The Fed will keep rates lows and stop buying Treasuries, experts predict. Reuters: Geithner has asked Congress for a [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 2:00 am

BAA reports return to growth at Heathrow

BAA, the airport operator, today reported further evidence of stabilising passenger numbers in July as Heathrow delivered the first increase in three years.

Source: Latest Business News from Times Online | 10 Aug 2009 | 1:57 am

Microsoft to sell advertising arm

Microsoft is to sell its digital advertising business Razorfish to French advertising company Publicis.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 1:49 am

Student fears over mounting debt

More than half of students in Scotland are in debt to banks or credit card companies, says the National Union of Students.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 1:44 am

U.S. banks to make $38 billion from overdraft fees: report (Reuters)

Reuters - Banks in the United States are poised to make $38.5 billion in customer overdraft fees this year, the Financial Times said, citing research by Moebs Services.

Source: Yahoo! News: Business | 10 Aug 2009 | 1:43 am

U.S. banks to make $38 billion from overdraft fees: report

(Reuters) - Banks in the United States are poised to make $38.5 billion in customer overdraft fees this year, the Financial Times said, citing research by Moebs Services.

Source: Reuters: Business News | 10 Aug 2009 | 1:43 am

Friends Provident back in talks with Resolution

Friends Provident capitulated this morning and agreed to re-enter talks with its prospective merger partner Resolution after it sweetened its offer to £1.86 billion in shares and cash.

Source: Latest Business News from Times Online | 10 Aug 2009 | 1:39 am

Rio Tinto shares slide on China spy claims

State claims mining giant conducted industrial espionage in its steel industry costing China more than 100bn £60bn in overpayments.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Aug 2009 | 1:28 am

Asia Markets 8/10/2009

Markets in Asia were mixed. The Nikkei rose 1.1% to 10,524. Sony (SNE) was up over 3%. The Hang Seng advanced. 2.2% to 20,829. The Shanghai Composite fell .3% to 3,250. At the open in Europe, the FTSE was off .8% to 4,696. The Dax fell .8% to 5,415. The CAC 40 was down .8% to 3,491. Data from Reuters [...]

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Source: 24/7 Wall Street | 10 Aug 2009 | 1:28 am

Warren Buffett stocks up on foreign government bonds

The billionaire investor has increased his holdings of foreign government bonds as his spending on equities fell to its lowest in more than five years.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Aug 2009 | 1:23 am

Asia Markets: Shanghai acting like it's 2007 all over again

Early warning signs suggest a bubble could be building in China’s stock market, although it’s too early to know whether this warrants an immediate exit from Chinese equities, analysts say in a recent report.

Source: MarketWatch.com - Top Stories | 10 Aug 2009 | 1:11 am

Friends resumes Resolution talks

Insurer Friends Provident resumes merger talks with investment firm Resolution after receiving a revised proposal.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 1:04 am

New emissions target 'big ask for NZ' - Key

The Government has set a greenhouse gas emissions reduction target of between 10 per cent and 20 per cent below 1990 levels by 2020, Climate Change Minister Nick Smith announced today. The target will be part of New Zealand's negotiating...
Source: New Zealand Herald - Business | 10 Aug 2009 | 1:03 am

Barry Diller's air of tech savvy hasn't paid off for shareholders

Not so very long ago, when media moguls stalked the Earth in all their arrogant glory, Barry Diller was among the biggest of the big.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

'Cash for clunkers' program still powering sales

Car buyers flock to local dealerships to get the rebate, but traffic slows after last week's frenzy.

Car buyers throttled back from the mad dash last week, but sales were still brisk over the weekend as the "cash for clunkers" program continued to attract crowds to Southern California dealerships.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

'G.I. Joe' starts at No. 1, but mission may be in jeopardy

A drop in attendance over the first two days and competition raise concerns about the film's staying power.

Paramount Pictures' strategy to shun big coastal cities and the critics paid off on opening weekend, but there's reason to wonder whether the momentum will last.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

Retail sales report could give clues to economy's strength

Now that housing and even unemployment are showing signs of improvement, Wall Street wants consumers to do their part to heal the economy.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

RadioShack updates its name and image

The company is now known as The Shack to appear more contemporary.

RadioShack Corp. recently announced that it is forthwith to be known as The Shack and launched a campaign to get consumers used to the new image.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

Tough times in the porn industry

The business, centered in the San Fernando Valley, is being undercut by a growing abundance of free content on the Internet.

On a recent Saturday night, Savannah Stern earned $300 to hang out for seven hours at a party in Santa Monica wearing nothing but a feather boa.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

Microsoft selling ad agency Razorfish

The $530-million purchase allows Paris-based Publicis Groupe to expand its online advertising.

Publicis Groupe, owner of ad firm Saatchi & Saatchi, said it is buying Microsoft Corp.'s Razorfish advertising agency for $530 million in cash and stock to expand in Internet advertising.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

National consumer protection agency would upend fragmented structure

Obama's proposal to strip regulatory power from as many as eight federal agencies is meeting resistance from those who say another bureaucracy could stifle innovation in financial products.

Congress gave the Federal Reserve the power to enact rules to protect consumers from unscrupulous mortgage lending in 1994. But as the years passed and risky subprime loans inflated the housing bubble, restrictions on lenders never came.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

Tough times in the porn industry

The business, centered in the San Fernando Valley, is being undercut by a growing abundance of free content on the Internet. ...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 1:00 am

Microsoft selling ad agency Razorfish

The $530-million purchase allows Paris-based Publicis Groupe to expand its online advertising. Publicis Groupe,...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 1:00 am

'Cash for clunkers' program still powering sales

Car buyers flock to local dealerships to get the rebate, but traffic slows after last week's frenzy. Car buyers...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 1:00 am

Retail sales report could give clues to economy's strength

Now that housing and even unemployment are showing signs of improvement, Wall Street wants consumers to do their part to heal the economy.
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 1:00 am

RadioShack updates its name and image

The company is now known as The Shack to appear more contemporary. RadioShack Corp. recently announced that it...
Source: RSS feed - channel BNPaperBusiness | 10 Aug 2009 | 1:00 am

The week ahead at a glance

At a glance TODAY Quarterly earnings reports due from Dish Network, Dynegy and E.W. Scripps.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

Making the recession work for you

There are ways to profit in business during a downturn, if not in real financial returns, then in building the company for tomorrow, writes Geoff Colvin.

Among the few banking bosses who can be said to have strengthened their position during the financial turmoil of 2008 was Jamie Dimon, chief executive of JPMorgan Chase.

Source: L.A. Times - Business | 10 Aug 2009 | 1:00 am

GM joins with eBay to test online car sales

General Motors and eBay are expected to announce on Monday that hundreds of the carmaker's California dealers will let consumers haggle over the prices of new cars and trucks through the online marketplace as part of a previously disclosed trial.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Aug 2009 | 12:41 am

Japan machinery orders rise

Japan's core machinery orders rise in June, data shows, but manufacturers remain downbeat about prospects.
Source: BBC News | Business | World Edition | 10 Aug 2009 | 12:11 am

Yanzhou Coal reportedly to unveil bid for Felix

China’s Yanzhou Coal is said to be set to bid for Australia’s Felix Resources in an offer expected to be pitched at below 20 Australian dollars a share.

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

The freefall in the UK jobs market may be slowing

Stabilisation in demand for staff in the private sector says new report.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 9 Aug 2009 | 11:04 pm

The house price crash of 20072009 is over CEBR declares

The house price crash is now effectively over an economic consultancy has declared forecasting that property values will grow between this autumn and the end of next year.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 9 Aug 2009 | 10:57 pm

Credit squeeze is starting to ease for UK companies CBI survery finds

Companies are finding it easier to borrow money according to the CBI's Access to Finance survey.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 9 Aug 2009 | 10:55 pm

Dollar outlook: Kiwi may gain as US confidence grows

The New Zealand dollar may gain on a trade-weighted basis this week as stronger-than-expected jobs data in the US boosted confidence the world's largest economy is recovering from its deepest recession since World War II. Six of...
Source: New Zealand Herald - Business | 9 Aug 2009 | 9:30 pm

Retail spending up 1.1pc in July - more green shoots?

New Zealand retail spending edged up 1.1 per cent in July from the same month of 2008, according to data from eftpos transactions company Paymark. Some NZ$3.48 billion was spent across the Paymark network last month, with stronger...
Source: New Zealand Herald - Business | 9 Aug 2009 | 7:00 pm

Property market better, but it's no boom, says QV

The property market appears to be gathering strength, although banks are carefully vetting who they lend money to. The latest Quotable Value figures reveal nationwide house values have increased 0.7 per cent over the past month...
Source: New Zealand Herald - Business | 9 Aug 2009 | 6:30 pm

Weak U.S. dollar buoys sales at yacht-builder

GULFPORT, Mississippi (Reuters) - Recession has shaken nearly every corner of the U.S. economy but Trinity Yachts is still turning out custom-built luxury boats, thanks in part to a sagging U.S. dollar.

Source: Reuters: Business News | 9 Aug 2009 | 6:23 pm

Fed to dampen rate hike talk, halt Treasury buying

WASHINGTON (Reuters) - The Federal Reserve meets this week with the delicate task of curbing a surge in expectations that it is ready to starting raising interest rates, without snuffing out crucial optimism on the economy.

Source: Reuters: Business News | 9 Aug 2009 | 6:04 pm

Hospitals are told to cut ‘over-optimistic’ budget forecasts

Leading hospitals have been given six weeks to strip back their budget forecasts after a warning from the regulator that their financial plans are too optimistic.
Source: Latest Business News from Times Online | 9 Aug 2009 | 6:01 pm

Memories of the Winter of Discontent haunt councils facing funding cuts

Public-sector pay negotiations often have the potential to cause industrial strife. Few Labour politicians will have forgotten the dreadful Winter of Discontent.
Source: Latest Business News from Times Online | 9 Aug 2009 | 6:00 pm

Youth jobless breaks through million mark

Youth unemployment is expected to have topped a million last month amid a rise in the total jobless figure for July of 250,000 to 2.5 million.

Source: Latest Business News from Times Online | 9 Aug 2009 | 6:00 pm

Prudential poised to boost buoyant markets with increased dividend

Prudential, Britain’s largest insurance company, is likely to provide a further boost to the stock market this week with resilient first-half figures and a raised dividend.

Source: Latest Business News from Times Online | 9 Aug 2009 | 6:00 pm

Bischoff to lead Lloyds to £15bn fundraising

Sir Win Bischoff, the chairman designate of Lloyds Banking Group, is believed to be pushing for the bank to raise up to £15 billion from the stock market to keep down the cost of insuring toxic debt with the Government.

Source: Latest Business News from Times Online | 9 Aug 2009 | 6:00 pm

Business big shot: Sir Adrian Montague, executive chairman, Friends Provident

Sir Adrian Montague is often described as the Government’s favourite fixer, but this week he will have to answer to Friends Provident shareholders, not the powers that be, if he fails to wring an acceptable takeover bid from Clive Cowdery’s Resolution.

Source: Latest Business News from Times Online | 9 Aug 2009 | 6:00 pm

Interest rate warning from bank economists

Economists at Westpac bank have issued a warning against calls for the Reserve Bank to lower the official cash rate (OCR) in a bid to weaken the New Zealand dollar. Last week the New Zealand Manufacturers and Exporters Association...
Source: New Zealand Herald - Business | 9 Aug 2009 | 5:48 pm

Chinese website slams Rio Tinto 'espionage'

Anger over house-share cuts plan

Proposals to use planning to limit house-sharing come under attack from landlords and the National Union of Students.
Source: BBC News | Business | World Edition | 9 Aug 2009 | 5:31 pm

Govt to unveil 2020 emissions target today

The Government will announce later today its greenhouse gas emissions reduction target for 2020. It has to take the target figure, or a range of target figures, to a UN meeting in Bonn this week. Countries have to commit to...
Source: New Zealand Herald - Business | 9 Aug 2009 | 5:30 pm

Iran’s reformers ‘must face justice’

A senior member of Iran’s elite Revolutionary Guards has said that reformist leaders must face justice, as international criticism grows over trials of protesters
Source: Financial Times - US homepage | 9 Aug 2009 | 4:47 pm

Shares start week firm

The New Zealand sharemarket started the week firmly, as top stock Telecom gained 4c in early trading to $2.81. The positive start in this country comes after stocks in the United States rallied on Friday, as the US July jobs report...
Source: New Zealand Herald - Business | 9 Aug 2009 | 4:43 pm

Hopes rise for UK financial sector

The number of new financial companies seeking UK regulatory authorisation rose for the first time since early 2008, data show, boosting hopes that parts of the financial community in London may now be reshaping and adapting after the financial crisis
Source: Financial Times - US homepage | 9 Aug 2009 | 4:31 pm

UK security man held over killings in Iraq

A British private security contractor was taken into custodyarrested by Iraqi authorities in Baghdad’s protected Green Zone, accused of fatally shooting two colleagues, a Briton and an Australian
Source: Financial Times - US homepage | 9 Aug 2009 | 4:30 pm

ING investors turn on ANZ

The ANZ Bank says a "substantial" number of the 2700 investors it placed in ING's frozen structured credit funds have lodged official complaints, but it will not give an exact figure. The bank gave its investors until July 31 to...
Source: New Zealand Herald - Business | 9 Aug 2009 | 4:30 pm

Banks make $38bn from overdraft fees

US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research
Source: Financial Times - US homepage | 9 Aug 2009 | 3:52 pm

Patchi chocolatiers plan float

Patchi, the family-owned Lebanese chocolate chain, has hired financial advisers to advise it onfor a primary listing in Dubai and a secondary listing in London
Source: Financial Times - US homepage | 9 Aug 2009 | 1:11 pm

Facebook joins forces with advertisers

More than 80 per cent of the largest US advertisers are using Facebook to promote themselves, suggesting that corporate America has embraced the social networking site as a mainstream promotional platform
Source: Financial Times - US homepage | 9 Aug 2009 | 1:09 pm

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