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Futures Movers: Crude oil prices dip below $66 a barrel in AsiaOil futures extend their retreat Monday in Asian trade, with the front month contract slipping below $66 a barrel amid growing concern recent gains in asset markets may have outpaced economic fundamentals.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 4:26 am Recruiter sees positive UK signsRecruitment company Michael Page says business in the UK is stabilising, but its six-month profits halve.Source: BBC News | Business | World Edition | 17 Aug 2009 | 4:22 am China to contest WTO trade rulingChina is to contest a World Trade Organization ruling that calls for it to end restrictions on imports of US films and music products.Source: BBC News | Business | World Edition | 17 Aug 2009 | 4:19 am Europe Markets: Banks, miners pace sharp losses for EuropeEuropean shares fall sharply Monday as banks and commodity shares come under pressure.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 4:16 am Japan pulls out of recession, but outlook shakyTOKYO (Reuters) - Japan's economy returned to growth in the second quarter, pulling out of its longest recession since World War Two, but analysts warned of a rocky road ahead as the nascent recovery was based on short-term stimulus efforts around the world.Source: Reuters: Business News | 17 Aug 2009 | 4:13 am Almost 90% Of US Paper Money Has Traces Of CocaineFiled in the folder marked “facts most people would never imagine” is the news that nearly nine out of ten bills in the US are contaminated with cocaine. Data released by the American Chemical Society says that “cocaine is present in up to 90 percent of paper money in the United States, particularly in large cities [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 4:12 am Postal staff start more strikesWorkers at Royal Mail in different parts of the UK have started more strikes, as disagreement over pay and jobs continues.Source: BBC News | Business | World Edition | 17 Aug 2009 | 4:09 am TransUnion.com: Mortgage Loan Delinquency Rates Rise - But Pace Is SlowingCHICAGO, Aug. 17 /PRNewswire/ -- TransUnion.com released today the results of its analysis of trends in the mortgage industry for the second quarter of 2009 and the associated...Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 4:07 am Indications: U.S. stock futures point south for Wall StreetU.S. stock futures point to a weaker start for Wall Street, amid a backdrop of economic worries and skidding overseas markets.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 4:04 am Markets under pressureU.S. stocks were poised to fall steeply Monday amid growing anxiety about the strength of the global economic recovery.Source: Business and financial news - CNNMoney.com | 17 Aug 2009 | 4:01 am Blue Square - Israel Ltd. Reports Financial Results for the First Half and Second Quarter of 2009ROSH HA'AYIN, Israel, August 17 /PRNewswire-FirstCall/ -- - The Continued Implementation of the Strategic Plan That Includes a Successful Launch and the...Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 4:01 am Texas Petrochemicals Provides Preliminary Fiscal 2009 Fourth Quarter ResultsPreliminary fourth quarter results reflect sequential improvement from third quarter despite continuing weak market conditions HOUSTON, Aug. 17 /PRNewswire-FirstCall/ --...Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 4:00 am DATATRAK International, Inc. Joins OTCQXNEW YORK, Aug. 17 /PRNewswire-FirstCall/ -- Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider forSource: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 4:00 am Access To GPS In US Gets Cheap As Apple (AAPL) iPhone Apps GrowTwo years ago, GPS products cost more than $1,000. Car companies charged as much as $2,500 for the systems. Tom Tom and Garmin (GRMN) stocks hit remarkably high levels on demand for GPS devices and on the rich prices that they could charge consumers. Less than two years ago, Gamin shares traded at over $125. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 3:56 am Chinese shares suffer steepest drop since November on fears rally is overdoneChinese shares suffered their steepest drop in nine months on Monday amid growing fears that this year's rally has been based on unsustainable levels of easy credit.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Aug 2009 | 3:56 am Risk aversion puts bourses under fireEuropean equity markets were subjected to heavy selling on Monday as risk assets sold off across the board, leaving dollar and yen currency havens and government bonds well supported.Many strategists believe...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 3:53 am ERP and CRM Consultancy Specialist Ardent Solutions Launches Hosted Dynamics AXBIRMINGHAM, England, August 17 /PRNewswire/ -- - Ardent 24 Offers Microsoft Dynamics SaaS and Provides Secure and Resilient IT Management and Cutting-Edge...Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 3:52 am Shanghai skids 5.8%, leads Asian stocks down againShanghai stocks drop 5.8% Monday, suffering their biggest percentage drop so far this year, as lower commodity prices, persistent worries over tightening in bank loans and weak economic data crushed investor sentiment.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 3:49 am Sony Ericsson appoints Ericsson exec as new headSony Ericsson Mobile Telecommunications, the world’s fifth-largest mobile-phone maker, says it’s appointed Ericsson executive Bert Nordberg as its new head to try and turn its fortunes around.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 3:48 am Egypt signs $2.3 billion oil, gas agreementsCAIRO, Aug 17 (Reuters) - Egypt has signed agreements for oil and natural gas exploration that are expected to bring in new investments of $2.3 billion, an official at the Oil Ministry said on Monday.Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 3:38 am BB&T announces $750 million common stock offeringWINSTON-SALEM, N.C., Aug. 17 /PRNewswire-FirstCall/ -- BB&T Corporation (NYSE: BBT) announced today that it has commenced a public offering of $750 million of its common...Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 3:35 am World stocks, oil tumble on US consumer worries (AP)
Source: Yahoo! News: Stock Markets News | 17 Aug 2009 | 3:32 am World stocks, oil tumble on US consumer worriesWorld stock markets and oil prices slid Monday as worries about the consumer outlook in the U.S. reined in hopes about the pace of any global economic recovery _ despite the news that JapanSource: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 3:32 am Oil falls to two-week low on recovery jittersLONDON (Reuters) - Oil fell to a two-week low below $66 a barrel on Monday as investors became more cautious about the pace of global economic recovery and any revival in energy demand.Source: Reuters: Business News | 17 Aug 2009 | 3:31 am A Ray Of Hope In JapanSome experts on the Japanese economy, the world’s second largest, compared the current recession to the nation’s “lost decade” of the 1990s when real estate and stock market prices plunged and the country went through a long bout of deflation and no growth. Japan’s economic figures were setting up the same way late last year and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 3:31 am Big TV takes on Nielsen ratingsSource: Business and financial news - CNNMoney.com | 17 Aug 2009 | 3:30 am Classic Recreations Retains Kahn Media for International Public Relations ProgramWOODLAND HILLS, Calif., Aug. 17 /PRNewswire/ -- Classic Recreations LLC, which manufacturers the officially licensed Eleanor Mustang supercar from the movie Gone in 60 Seconds...Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 3:30 am DEALTALK-Down under, UBS stealing deals thunder* Staff turnover at rival bank could have helped UBS (For more Reuters DEALTALKS, click [DEALTALK/])Source: RSS feed - channel BNewsBusiness | 17 Aug 2009 | 3:29 am China: The new Big OilChina is on an oil buying binge.Source: Business and financial news - CNNMoney.com | 17 Aug 2009 | 3:28 am H&M July same-store sales fall more than expected (Reuters)
Source: Yahoo! News: Business | 17 Aug 2009 | 3:26 am H&M July same-store sales fall more than expectedSTOCKHOLM (Reuters) - Hennes & Mauritz , the world's third-biggest clothing retailer, reported on Monday a bigger-than-expected 3 percent drop in year-on-year sales at established stores in July.Source: Reuters: Business News | 17 Aug 2009 | 3:26 am Japan's economy leaves recessionJapan follows Germany, France and Hong Kong out of recession by recording growth in the second quarter.Source: BBC News | Business | World Edition | 17 Aug 2009 | 3:20 am Asia Markets: Japan stocks dip, yen gains amid economic concernsJapanese shares tumble and the yen appreciates as data showing the nation’s economy expanded for the first time in five quarters does little to ease concerns about the health of the world’s second-largest economy.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 3:16 am RBS £60bn takeover of ABN under investigationThe Financial Services Authority (FSA) has begun an investigation into Royal Bank of Scotland's (RBS) disastrous acquisition of ABN Amro and its subsequent £12 billion rights issue. Source: Latest Business News from Times Online | 17 Aug 2009 | 3:11 am Stock futures point to drop as world stocks sink (Reuters)
Source: Yahoo! News: Stock Markets News | 17 Aug 2009 | 3:11 am Stock futures point to drop as world stocks sink(Reuters) - Stock index futures pointed to a sharply lower open on Wall Street on Monday, mirroring a selloff in Asian and European stocks on mounting worries equities' recent surge had run ahead of the global economic recovery.Source: Reuters: Business News | 17 Aug 2009 | 3:11 am Stock futures point to drop as world stocks sink (Reuters)
Source: Yahoo! News: Business | 17 Aug 2009 | 3:11 am China's CIC to buy U.S. mortgage paper: reportChina’s $200 billion sovereign wealth fund, China Investment Corp., is preparing to invest up to $2 billion in U.S. mortgage securities, according to a media report Monday.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 3:09 am Higher Taxes In 2011 Should Drive Stronger Than Expected GDP Growth In 2010More and more economists talk about a “V”-shaped recovery. The recession has been so bad, their theory goes, that there is now pent-up demand for goods and services. New data from the government show that Americans have been saving more than was previously thought. The rate at which unemployment is growing has slowed and may [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 3:00 am FTSE under pressure as risk appetite wanesLondon equities fell on Monday, with the sectors that made the biggest gains in the market's recent rally under the most pressure as investors booked profits. The FTSE 100 was 72 points weaker at 4,630...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 2:56 am Michael Page profits fall 49% in bleak marketProfits at Michael Page International, the FTSE 250 recruitment consultancy, fell by 49 per cent to £43.2 million for the first half, continuing a disastrous year for the company. Source: Latest Business News from Times Online | 17 Aug 2009 | 2:56 am Struggling Sony Ericsson taps Nordberg as new headHELSINKI (Reuters) - Loss-making handset maker Sony Ericsson said on Monday Chief Executive Dick Komiyama would retire at the end of the year, with Ericsson executive Bert Nordberg to take the helm from October 15.Source: Reuters: Business News | 17 Aug 2009 | 2:54 am Swedbank calls surprise $2.1 billion rights issueSTOCKHOLM (Reuters) - Sweden's Swedbank unveiled a surprise 15 billion Swedish crown ($2.1 billion) rights issue to boost a balance sheet weighed down by rising levels of bad loans, sending its shares sharply lower on Monday.Source: Reuters: Business News | 17 Aug 2009 | 2:52 am The Largest Business Blunder Of The Year: VW Gave Up The US MarketVolkswagen Aktiengesellschaft, the company known to most Americans as VW, wants to become the world’s largest car company within a decade. VW has almost no chance of realizing that aspiration because it did not use the disintegration of the US car companies to get a sizable share of the world’s largest auto market. VW’s piece [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 2:50 am China's foreign direct investment drops in JulyForeign direct investment in China declines sharply in July, with inflows falling to two-thirds of last year’s level as companies in developed economies pared back overseas investments.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 2:49 am Currencies: Dollar and yen rise as Asian stocks plungeThe dollar and yen rise against major rivals in Asian trading, as a regional sell-off led by Chinese shares sends investors into the perceived safety of lower-yielding currencies.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 2:49 am Swedbank unveils SKr15bn rights issueShares in Swedbank fell on Monday after the bank announced a fully underwritten SKr15bn ($2bn) rights issue to shore up a balance sheet hit hard by economic turmoil in eastern Europe.The fundraising came...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 2:47 am London Markets: Miners, oil producers lead losses for U.K. sharesMiners and oil producers drop sharply in London, pressuring the top share index.
Source: MarketWatch.com - Top Stories | 17 Aug 2009 | 2:44 am Neil Morrissey 'opts for IVA to repay £2.5m'Neil Morrissey the star of the comedy show Men Behaving Badly is millions of pounds in debt after a property scheme in which he invested collapsed it was reported at the weekend.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Aug 2009 | 2:40 am Global slowdown halves profits at Michael PageMichael Page International on Monday said that it was maintaining its interim dividend in spite of profit halving.The UK's second-biggest recruitment consultancy reported pre-tax profit for the first six...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 2:18 am World stocks, oil tumble on recovery doubts (Reuters)
Source: Yahoo! News: Stock Markets News | 17 Aug 2009 | 2:08 am Recession ends in Japan, but few cheerRead full story for latest details.Source: Business and financial news - CNNMoney.com | 17 Aug 2009 | 2:07 am Media Digest 8/17/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: China Investment Corp will put $2 billion into US mortgages. Reuters: The US pay czar says be can “claw back” executive compensation. Reuters: Japan is pulling out of its recession. Reuters: China will appeal a WTO ruling on entertainment imports. Reuters: Chrysler will make a Fiat in Mexico. Reuters: UBS (UBS) will name 5,000 account holders under its deal [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 2:03 am Fresnillo hit by falling silver pricesThe falling price of silver has weighed on revenues at Fresnillo, the mining group, although the lower prices were mitigated by a devaluation in the Mexican peso as the company prepares to start production...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 2:02 am Amcor nears $2bn deal for Rio packaging unitsAmcor is poised to cement its position as one of the world's largest packaging businesses as its finalises details of the A$2.4bn (US$2bn) purchase of Alcan packaging assets being sold by Rio Tinto, the...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 1:55 am Sony Ericsson picks Nordberg as new chiefHELSINKI, Aug 17 - Lossmaking handset maker Sony Ericsson said on Monday Dick Komiyama, chief executive, would retire at the end of the year, with Ericsson executive Bert Nordberg to take the helm from...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 1:45 am Buffett sells energy, buys drugmakersInvestor guru Warren Buffett bought up millions of shares of health care and drugmaker stocks in recent months while shedding energy shares, according to a Friday filing with the Securities and Exchange Commission.Source: Business and financial news - CNNMoney.com | 17 Aug 2009 | 1:45 am Bailouts: What we know, what we don'tThe Obama administration pledged unprecedented transparency in its accounting of the $700 billion bank and auto bailouts (TARP) and the $787.2 billion Recovery Act. A lot of information has been made public but there are some key details where the transparency falls far short.Source: Business and financial news - CNNMoney.com | 17 Aug 2009 | 1:45 am FTSE 100 opens lower (AFP)
Source: Yahoo! News: Stock Markets News | 17 Aug 2009 | 1:45 am Getting a mortgage likely just got harderThe collapse of Colonial BancGroup poses another hazard to the still-shaky housing market: Mortgages could become even harder to get.Source: Business and financial news - CNNMoney.com | 17 Aug 2009 | 1:43 am Japan pulls out of recession, but outlook shaky (Reuters)
Source: Yahoo! News: Business | 17 Aug 2009 | 1:41 am Time to bin your withprofits policy?Tips for withprofits policyholders on what to look for where to ask for advice and whether they should head for the exit.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Aug 2009 | 1:34 am Feeling downJapan exits recession amid little optimismSource: BBC News | Business | World Edition | 17 Aug 2009 | 1:32 am Asia Markets And Europe Open 8/17/2009Markets in Asia were sharply lower. The Nikkei fell 3.1% to 10,289. The Hang Seng was down 3.5% to 20,169. PetroChina (PTR) was down 4%. The Shanghai Composite was off 5.8% to 2,871. At the open in Europe, the FTSE dropped .8% to 4,675. Rio Tinto (RTP) fell sharply. The Dax dropped 1.1% to 5,253. The CAC 40 was down [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Aug 2009 | 1:27 am Workers bracing to say goodbye to Toyota auto plantMost industry analysts believe it's a foregone conclusion that the Japanese automaker will shut California's last remaining auto plant. That leaves 3,600 union workers to hope against enormous odds. ...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 1:00 am Grim forecast for L.A. and Long Beach portsThe busiest U.S. seaport complex won't fully recover from the economic downturn until 2013, a report says. Imports at both facilities fell in July from a year earlier.As the ports of Los Angeles and Long Beach post another round of dismal monthly import statistics, a new assessment finds that the nation's busiest seaport complex will need at least four more years to fully recover its momentum -- not to mention the jobs, incomes and revenues that went with it -- after the worst global recession in 60 years.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am The week ahead, at a glanceAt a glance TODAY National Assn. of Home Builders releases housing market index for August.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am Some saw the housing bubble and sold; trick now is spotting the bottomSome who sold homes during the bubble are buying again, drawn by deals, despite the possibility of further price drops.Mark Kiesel saw the real estate crash coming.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am Workers bracing to say goodbye to Toyota auto plantMost industry analysts believe it's a foregone conclusion that the Japanese automaker will shut California's last remaining auto plant. That leaves 3,600 union workers to hope against enormous odds.As Mae Fisher sees it, the union has given her a good life.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am Cartoon Network gambles on live actionIt's moving away from its animation roots -- under the guidance of Rob Sorcher, who helped AMC develop 'Mad Men' and 'Breaking Bad' -- but almost all its new reality shows are flopping.When 14-year-old Ashley Rosario went looking for her favorite Cartoon Network shows such as "Chowder" and "The Marvelous Misadventures of Flapjack" and instead found reality programs, she did what any normal teenager does these days. She made a video complaining about it and posted it on YouTube.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am Universal execs under fire for a flop-filled seasonChairmen Marc Shmuger's and David Linde's summer slate -- three comedies and a period gangster picture -- didn't bring the box-office heat. The failed strategy could cost them their jobs.Universal Pictures' chairmen, Marc Shmuger and David Linde, have found themselves where all Hollywood executives invariably land when their studios falter: more talked about than their movies.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am Major retailers' reports will give clues to economy's healthSaks, Lowe's, Home Depot, Target and BJ's Wholesale Club are among retailers that will report earnings this week.On Wall Street, the average shopper can trump a Federal Reserve policymaker.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am Film producers are accused of paying bribes in ThailandGerald and Patricia Green deny they paid a Thai official to secure movie festival and other lucrative contracts.Before film producers Gerald and Patricia Green took over a movie festival in Bangkok, the weeklong event struggled to capture Hollywood's attention.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am 'District 9' buzz attracts lots of humansThe low-budget sci-fi film and its clever viral marketing campaign score a box-office hit for Sony.So much for the dog days of August.
Source: L.A. Times - Business | 17 Aug 2009 | 1:00 am The week ahead, at a glanceAt a glance TODAY National Assn. of Home Builders releases housing market index for August.Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 1:00 am 'District 9' buzz attracts lots of humansThe low-budget sci-fi film and its clever viral marketing campaign score a box-office hit for Sony. So much for...Source: RSS feed - channel BNPaperBusiness | 17 Aug 2009 | 1:00 am Aussie stocks: US decline sets toneAustralian shares have closed more than 1.5 per cent lower as banks ended their recent price surge and big miners declined following weaker metal prices. At the 1610 AEST close on Monday, the benchmark S&P/ASX200 was down 72.6...Source: New Zealand Herald - Business | 17 Aug 2009 | 12:57 am NZ stocks: Market falters, Freightways downThe New Zealand sharemarket faltered today, along with other markets, and as companies reporting results gave little away about future performance. The benchmark NZSX-50 index closed down 65.174 points, or 2.068 per cent, at 3086.085....Source: New Zealand Herald - Business | 17 Aug 2009 | 12:56 am Smartphones to take '70pc of Europe's mobile market' by 2012Mobilephone experts predict that "smartphones" similar to the BlackBerry and the iPhone will account for seven out of 10 phones sold by 2012.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Aug 2009 | 12:31 am Steel protest ends privatisationThe Chinese government cancels the privatisation of a steel firm following worker protests, the country's state media reports.Source: BBC News | Business | World Edition | 17 Aug 2009 | 12:25 am Greed is good when it creates wealth for allThe greatest moral failing of the banks is that they exist to serve themselves alone says George Pitcher.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Aug 2009 | 12:04 am Japan emerges from recession but investors remain scepticalThe world's secondbiggest economy is growing again but investors question the durability of any recovery.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Aug 2009 | 11:55 pm Chrysler to make Fiat in Mexico: reportNEW YORK (Reuters) - Chrysler Group is planning to produce Fiat SpA's Fiat 500 subcompact at a Chrysler plant in Mexico, the Wall Street Journal reported, citing people familiar with the matter.Source: Reuters: Business News | 16 Aug 2009 | 11:45 pm Is free content really the iron law of the internet?Internet users are finally coming round to the idea of paying for content.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Aug 2009 | 11:41 pm Cuomo likely to file Schwab ARS suit on Monday: report (Reuters)
Source: Yahoo! News: Business | 16 Aug 2009 | 11:20 pm Cuomo likely to file Schwab ARS suit on Monday: report(Reuters) - New York Attorney General Andrew Cuomo, probing illegal marketing and sales of auction rate securities (ARS), is likely to file a lawsuit on Monday against Charles Schwab Corp for civil fraud, the Wall Street Journal said, citing people familiar with the matter.Source: Reuters: Business News | 16 Aug 2009 | 11:20 pm China strikes iron ore deal with FortescueChina announced a six-month iron ore supply contract with Australia’s Fortescue Metals at a price lower than those offered by the world’s top iron ore producers, a deal which will allow the country to continue its hard-line stance on negotiations with Rio Tinto, BHP Billiton and Brazil’s ValeSource: Financial Times - US homepage | 16 Aug 2009 | 11:11 pm U.S. pay czar says he can "claw back" exec compensationMARTHA'S VINEYARD, MASSACHUSETTS (Reuters) - Kenneth Feinberg, the Obama administration's pay czar, said on Sunday he has broad and "binding" authority over executive compensation, including the ability to "claw back" money already paid, and he is weighing how and whether to use that power.Source: Reuters: Business News | 16 Aug 2009 | 11:09 pm U.S. pay czar says he can "claw back" exec compensation (Reuters)Reuters - Kenneth Feinberg, the Obama administration's pay czar, said on Sunday he has broad and "binding" authority over executive compensation, including the ability to "claw back" money already paid, and he is weighing how and whether to use that power.Source: Yahoo! News: Business | 16 Aug 2009 | 11:09 pm F & P Appliances boss Bongard resignsFisher & Paykel Appliances shareholders have been told at their annual meeting today that chief executive John Bongard will be leaving the company at the end of the year. Bongard has been chief executive since 2004 and will have...Source: New Zealand Herald - Business | 16 Aug 2009 | 10:45 pm Farm sales plummet in July - dairy sales down nearly 80pcFarm sales have ground to a near halt as the slide in the all-important dairy payout has forced both banks and farm buyers onto the sidelines. Nationwide farm sales slumped to 52 in July from 80 in June and 154 in July 2008, while...Source: New Zealand Herald - Business | 16 Aug 2009 | 10:00 pm Japan emerges from recession after year-long slumpJapan today emerged from its longest and most destructive recession since the Second World War as government stimulus measures at home and abroad finally began to pay off. Source: Latest Business News from Times Online | 16 Aug 2009 | 9:29 pm Japan emerges from recessionJapan’s economy grew 0.9 per cent in the three months to June, marking the first expansion in five quarters on the back of exports and government stimulus spendingSource: Financial Times - US homepage | 16 Aug 2009 | 9:16 pm Chrysler to make Fiat in Mexico: report (Reuters)
Source: Yahoo! News: Business | 16 Aug 2009 | 9:07 pm Freightways shares drop on dividend reinvestment planShares of Freightways have fallen today after the biggest courier company on the NZX announced an underwritten dividend reinvestment plan as part of plan to preserve cash and strengthen its balance sheet. Its share price has fallen...Source: New Zealand Herald - Business | 16 Aug 2009 | 9:00 pm Govt releases new regulation - to control regulationsAs the Government seeks to reduce regulation it has released its first Statement on Regulation - a set of regulations. Finance Minister and Regulatory Reform Minister Rodney Hide released the statement today. It was born out...Source: New Zealand Herald - Business | 16 Aug 2009 | 8:56 pm Westpac edges closer to ASB in high value customersThe country's high rollers are liking what they see at Westpac. The bank made the largest gains in the "high value" segment of the latest Roy Morgan Banking Customer Satisfaction survey. It's the slice of the banking market...Source: New Zealand Herald - Business | 16 Aug 2009 | 8:30 pm Dollar outlook: Kiwi may fall this weekThe New Zealand dollar may fall this week, extending its decline as an unexpected drop in consumer confidence in the U.S. drags down investor appetite for higher-yielding, or riskier, assets. Four of six economists and strategists...Source: New Zealand Herald - Business | 16 Aug 2009 | 8:00 pm When the recovery comes, we need to be ready: expertSYDNEY - The recent lift in consumer confidence should serve a warning to businesses that they need to be ready to ramp up production when the economic recover takes off, an expert from financial advisory firm William Buck says. William...Source: New Zealand Herald - Business | 16 Aug 2009 | 7:30 pm UBS to name 5,000 accounts under U.S. deal: paperGENEVA (Reuters) - The deal initialed last week between the United States and Switzerland over UBS will involve the disclosure of around 5,000 holders of secret Swiss accounts, weekly newspaper NZZ am Sonntag said on Sunday.Source: Reuters: Business News | 16 Aug 2009 | 7:02 pm Cadbury caves - no more palm oil in its chocolateCadbury is to get rid of palm oil from its chocolates after a public outcry. The firm started using the oil recently as part of a cost-cutting exercise which also saw the 150g and 250g bars shed about 20 per cent of their weight. Replacing...Source: New Zealand Herald - Business | 16 Aug 2009 | 6:30 pm Wind of change blows across the Great LakesThe New York Power Authority (NYPA), America’s largest state-owned power organisation, is appealing to the private sector, including Britain's National Grid, to help it to generate electricity from one of its most prized assets — by turning a corner of the Great Lakes into a giant wind farm. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm Defence groups eye drones for war and policingBaitullah Mehsud was said to have been having a leg massage from his wife when two Hellfire missiles killed the Taleban leader ten days ago. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm Retailers want a scrappage scheme for fridgesRetailers are seeking a scrappage project for domestic appliances such as fridges. The British Retail Consortium (BRC) said that a plan similar to the “cash for bangers” scheme for the car trade would protect jobs and help Britain to hit carbon emission targets by encouraging people to switch to more energy-efficient white goods. It is also calling for tax relief on energyefficient items. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm High office is no longer such a golden prizeIt is useful to keep out-of-date reference books. In 1900, Hatch, Mansfield and Co, “the leading house for good vintages”, took two pages of advertisements in the first Whitaker’s Almanack of the new century; they presented copies, attractively bound in red leather, to their better customers, of which my grandfather was one. That has enabled me to look up the composition and pay of the British Establishment of the last year of Queen Victoria’s reign. I did not have to Google them. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm Sellers drop asking price as competition for house buyers heats upA seasonal lull in the recent homebuying frenzy has prompted sellers to reduce their asking prices by 2.2 per cent in August to achieve a sale, according to figures out on Monday. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm Barclaycard chief given millions for promotion that never cameThe chief executive of Barclaycard, Antony Jenkins, was paid several million pounds in compensation for not receiving a promotion that he had been promised, The Times has learnt. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm US investment market rediscovers taste for high-tech companiesAt last there are signs of life in the technology sector and Silicon Valley is beginning to stir again. A small, but significant, number of high-tech companies are planning initial public offerings (IPOs) as the market proves more receptive to new technology stocks. Source: Latest Business News from Times Online | 16 Aug 2009 | 6:00 pm First Eastern cash call to break ground in ChinaHong Kong-based First Eastern Financial Investment Group plans to raise Rmb6bn via a new wholly-owned China subsidiary in a breakthrough that will make it easier for international private equity firms to raise and deploy capital in the countrySource: Financial Times - US homepage | 16 Aug 2009 | 5:05 pm BarCap pay offer questionedJPMorgan asked the Financial Services Authority to review a multi-million pound compensation package being offered to lure one of its star proprietary traders to rival Barclays Capital, the investment banking arm of BarclaysSource: Financial Times - US homepage | 16 Aug 2009 | 4:34 pm Deadline looms for Guaranty bidsAt least one private equity consortium is considering a bid for Texas bank Guaranty Financial as the deadline for prospective buyers nearsSource: Financial Times - US homepage | 16 Aug 2009 | 3:30 pm European business trails US and UKCompanies from the eurozone are the only ones, among the trio of regions, where there have been more disappointments than positive surprises in the ongoing second-quarter results seasonSource: Financial Times - US homepage | 16 Aug 2009 | 2:58 pm House asking prices fall by £5000Asking prices fell by £5000 during the past month as the housing market experienced its traditional summer lull figures showed.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Aug 2009 | 2:40 pm City hits back at Treasury in bonus warSenior financiers have warned that London will be damaged if the Chancellor legislates to curb City bonuses.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Aug 2009 | 2:23 pm Housing affordability at the highest level since 1996Housing has become more affordable than at any point in the past 13 years according to new research.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Aug 2009 | 2:16 pm Obama concedes healthcare insurance measureUS healthcare reform could proceed without a government-run insurance scheme, the Obama administration is ever more frequently acknowledging, a decision that would win over some conservatives but disappoint many liberalsSource: Financial Times - US homepage | 16 Aug 2009 | 2:04 pm Iceland poised for foreign payback pactIceland’s parliament is close to approving the repayment of nearly €4bn by British and Dutch savers in a failed Icelandic bankSource: Financial Times - US homepage | 16 Aug 2009 | 1:01 pm Afghans fear poll attacksAfghanistan’s top security officials yesterday warned they were unable to guarantee the security of this week’s elections, despite efforts to buy off a ceasefire from off Taliban insurgents.Source: Financial Times - US homepage | 16 Aug 2009 | 12:42 pm Iran to let women join cabinetMahmoud Ahmadi-Nejad, Iran’s president, said he would nominate at least three female ministers to his cabinet, reaching out to the women who have been particularly active in post-election protests against his governmentSource: Financial Times - US homepage | 16 Aug 2009 | 12:32 pm Wall Street sees shoppers as key to rally's future (AP)
Source: Yahoo! News: Stock Markets News | 16 Aug 2009 | 10:57 am Stocks could pull back as earnings end (Reuters)
Source: Yahoo! News: Stock Markets News | 16 Aug 2009 | 9:29 am Sainsbury's in battle over Pimm'sPimm's maker Diageo takes legal action against Sainsbury's alleging the supermarket broke copyright rules.Source: BBC News | Business | World Edition | 16 Aug 2009 | 9:13 am Reality check on health care mythsSource: Business and financial news - CNNMoney.com | 16 Aug 2009 | 7:52 am Rising credit card minimums: Fair or foul?Source: Business and financial news - CNNMoney.com | 16 Aug 2009 | 7:49 am Mexico favours Brazil trade pactMexico's President Felipe Calderon says he will propose a free trade agreement with Brazil, during a trip to the country.Source: BBC News | Business | World Edition | 16 Aug 2009 | 5:48 am
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