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Financial HelpLine (Ask SmartMoney)Market's latest plunge got you worried about your finances? Our editors and writers answer your questions.
Source: SmartMoney.com | 30 Aug 2009 | 10:00 pm Murdoch attack on 'dominant' BBCNews Corp's James Murdoch says that a "dominant" BBC threatens independent journalism in the UK and also attacked the government.Source: BBC News | Business | World Edition | 29 Aug 2009 | 4:13 am Auto Review: 2010 Hyundai Genesis Coupe 2.0T: Nothing but funHyundai hits a grand slam. It is very seldom that one can instantly feel right at home in a car, as if you have been driving it for years. Such was the case with the Hyundai Coupe.
Source: MarketWatch.com - Top Stories | 29 Aug 2009 | 4:01 am SportsWatch: U.S. real estate investor tackles Italian footballA Texas real estate developer is about to get a crash course in the world of Italian soccer.
Source: MarketWatch.com - Top Stories | 29 Aug 2009 | 3:10 am Hacker pleads guilty in identity theft caseA computer hacker accused of masterminding one of the largest cases of identity theft in U.S. history agreed to plead guilty and serve up to 25 years in federal prison for his crimes.Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Stocks end mixed as tech gains offset healthcare lossesThe Dow drops 36 points to 9,544, breaking an eight-day winning streak. For the week, the Dow and the Nasdaq climbed 0.4%; the S & P 500 rose 0.3%.Investors balked Friday at extending Wall Street's recent rally, but stocks still managed to carve out their sixth weekly advance in seven weeks.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am A good time to reassess strategyWith the end of summer drawing near, investors find themselves in far better shape than they probably dared to imagine just a few months ago.Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am California renewable energy goals: The devil is in the implementationEnvironmentalists, unions and utilities seem to accept the governor's goal of getting a third of electricity from renewable sources. They just differ on how to get there. ...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Hacker pleads guilty in identity theft caseA computer hacker accused of masterminding one of the largest cases of identity theft in U.S. history agreed to plead guilty and serve up to 25 years in federal prison for his crimes.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am Broadcom insurers agree to pay $118 million to settle lawsuitThe deal would settle a case accusing company executives of mismanagement and misdating stock options. The money would be paid to Broadcom, which agreed to pay $11.5 million to plaintiffs' attorneys.Insurers have agreed to pay $118 million to settle a federal lawsuit accusing Broadcom Corp. officials of mismanagement and unjust enrichment through the misdating of stock options.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am Psyllids found at shipping depotTests reveal the pests, which turned up in a parcel in Sacramento, aren't carriers of a citrus-killing disease. ...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Stocks end mixed as tech gains offset healthcare lossesThe Dow drops 36 points to 9,544, breaking an eight-day winning streak. For the week, the Dow and the Nasdaq climbed 0.4%; the S & P 500 rose 0.3%. ...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Writers Guild election brings out dirty laundry from 100-day strikeOutgoing leaders accuse John Wells, who is running for president of the union, of having undermined talks with studios. Wells calls the allegations 'false' and 'ludicrous.' ...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Consumer spending rises in July, but consumer sentiment slipsThe "cash for clunkers" trade-in program, which gave consumers a subsidy to turn in less fuel-efficient vehicles for newer models, boosted consumer spending in July, the Commerce Department reported Friday...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am California renewable energy goals: The devil is in the implementationEnvironmentalists, unions and utilities seem to accept the governor's goal of getting a third of electricity from renewable sources. They just differ on how to get there.At the State Capitol, boosting the use of solar power, wind generators and other renewable energy sources is seen as a boon for both the environment and the economy in electricity-hungry California.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am A good time to reassess strategyWith the end of summer drawing near, investors find themselves in far better shape than they probably dared to imagine just a few months ago.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am Appeals court sides with Comcast in market-share battle with FCCThe court lifts a rule limiting cable firms to serving no more than 30% of the nation's subscribers. The nation's...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Consumer spending rises in July, but consumer sentiment slipsThe "cash for clunkers" trade-in program, which gave consumers a subsidy to turn in less fuel-efficient vehicles for newer models, boosted consumer spending in July, the Commerce Department reported Friday.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am Broadcom insurers agree to pay $118 million to settle lawsuitThe deal would settle a case accusing company executives of mismanagement and misdating stock options. The money would be paid to Broadcom, which agreed to pay $11.5 million to plaintiffs' attorneys. ...Source: RSS feed - channel BNPaperBusiness | 29 Aug 2009 | 1:00 am Appeals court sides with Comcast in market-share battle with FCCThe court lifts a rule limiting cable firms to serving no more than 30% of the nation's subscribers.The nation's biggest cable operator can now get bigger.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am Psyllids found at shipping depotTests reveal the pests, which turned up in a parcel in Sacramento, aren't carriers of a citrus-killing disease.Another discovery of a tiny insect that often carries an incurable tree-killing disease demonstrates how California's citrus industry is fighting a war on several fronts -- in the orange groves, at airports and at the borders.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am Writers Guild election brings out dirty laundry from 100-day strikeOutgoing leaders accuse John Wells, who is running for president of the union, of having undermined talks with studios. Wells calls the allegations 'false' and 'ludicrous.'The contest to elect a new leader of the Writers Guild of America, West, took an ugly turn Friday when the union's current president and a key figure in last year's contract negotiations blasted John Wells, the writer and producer who is campaigning to be the union's next president.
Source: L.A. Times - Business | 29 Aug 2009 | 1:00 am PetroChina says to buy $3.2 bln assets from parentHONG KONG, Aug 29 (Reuters) - PetroChina , the world's most valuable oil and gas producer, said it would buy a combined $3.2 billion worth of assets from state-owned parent China National Petroleum Corporation...Source: RSS feed - channel BNewsBusiness | 29 Aug 2009 | 12:28 am Regulators shut down banks in Calif, Md, MinnRegulators on Friday shut down banks in California, Maryland and Minnesota, pushing to 84 the number of bank failures this year amid the soured economy and rising loan defaults. The...Source: RSS feed - channel BNewsBusiness | 29 Aug 2009 | 12:22 am Wall Street confidence rising but Sept peril looms (AFP)
Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 11:12 pm Trademark wars: US goods carry famous Cuba brandsCuban rum maestro Jose Navarro's taste buds sing when he sips Havana Club, the sweet spirit distilled in this farming town south of the capital. "It has to be Cuban," said Navarro, the...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 11:08 pm Nationwide Building Society Offers Discounts on 5 Star Home InsuranceNationwide Building Society customers can benefit from a 20% discount this year and next on combined buildings and contents insurance LONDON, Aug. 29 /PRNewswire/ --...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 10:01 pm August 29, 2008 (Friday): McCain Taps Dark Horse VP Candidate Sarah PalinThe Veep Who Came in From the ColdThe country scratches its collective head as Sen. John McCain picks Alaska Gov. Sarah Palin as his vice presidential candidate today. She is "the running mate who can best help me shake up Washington,” says McCain. In her first appearance as the vice presidential candidate, Palin, 44, said she would fight against corruption and seek to reform Washington. She also said she never expected to seek the office of second-in-command. "I was just your average hockey mom in Alaska," she said describing herself before she got involved in politics. "When I found corruption there, I fought it hard and brought the offenders to account." (For more on this news, click here.) Falling DownWhat goes up, must come down; ergo personal income fell in July by the biggest drop in three years after two successive months of gains—spurred by $90 billion in economic stimulus checks. The Commerce Department says the slide comes on the heels of a .1% jump in June and a 1.8% increase in May. The sharp decline was the largest drop since August 2005, when personal income plunged by 2.3%, according to the Bureau of Economic Analysis. (For more on this news, click here.) Conspiracy TheoryPrivate eye Anthony Pellicano, Hollywood’s former favorite gumshoe, is convicted yet again, this time with lawyer Terry N. Christensen of wiretapping the ex-wife of investor Kirk Kerkorian as part of a child-support case. Christensen and Pellicano were also convicted of conspiracy to commit wiretapping in Los Angeles Federal District Court. Christensen could get up to 10 years in federal prison; he is currently free on $100,000 bail and was instructed to not leave California without permission. Pellicano returned to prison where he is awaiting sentencing for an earlier conviction of wire fraud, racketeering and wiretapping. For those charges, Pellicano faces up to 20 years in prison. (For more on this news, click here.) SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 28 Aug 2009 | 10:00 pm China's CIC wealth fund muscles up as markets recoverBEIJING (Reuters) - China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund, said on Saturday.Source: Reuters: Business News | 28 Aug 2009 | 9:05 pm China's CIC wealth fund muscles up as markets recover (Reuters)Reuters - China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund, said on Saturday.Source: Yahoo! News: Business | 28 Aug 2009 | 9:05 pm China's CIC wealth fund muscles up as markets recoverBEIJING (Reuters) - China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund,...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 9:05 pm UPDATE 1-China's CIC wealth fund muscles up as markets recoverBEIJING, Aug 29 (Reuters) - China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund, said on...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 8:55 pm Import-expert legend dies at 103Sir Jack Harris, who ran one of the country's biggest import/export businesses, has died at the age of 103. NZ's oldest first-time author, Sir Jack published his "Memoirs of a Century" two years ago, spanning 100 years since his...Source: New Zealand Herald - Business | 28 Aug 2009 | 8:30 pm China aids Songbird rescueChina Investment Corporation, the sovereign wealth fund of China, has joined a consortium to help bail out the majority owner of Canary Wharf, which was facing a potential breach of an 880m ($1.3bn) loan...Source: RSS feed - channel BNPaperBusiness | 28 Aug 2009 | 8:04 pm Chinese SWF CIC ramping up overseas investmentsBEIJING, Aug 29 (Reuters) - China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the sovereign wealth fund, said on Saturday. ...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 7:56 pm Three more banks fail; 2009 total hits 84Three more banks fail, bringing 2009 total to 84.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 7:51 pm Bank failure tally tops 84Regional banks in Maryland, Minnesota and California were closed by regulators Friday, bringing the total number of failed banks this year to 84, the Federal Deposit Insurance Corporation said.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 7:42 pm Regulators shut banks in Calif, Md, MinnRegulators on Friday shut down banks in California, Maryland and Minnesota, pushing to 84 the number of bank failures this year amid the soured economy and rising loan defaults. The...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 7:29 pm Stocks to Watch: Stocks in focus for Monday Aug. 31Stocks likely to show significant movement in Monday trading.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 7:28 pm Pacific Western Bank Acquires Affinity Bank of Ventura, CA Through an FDIC-Assisted Transaction- All insured and uninsured depositors will be protected in transaction - SAN DIEGO, Aug. 28 /PRNewswire-FirstCall/ -- PacWest Bancorp (Nasdaq: PACW) today announced that...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 7:18 pm AIG paused auction of aircraft leasing firm - sourceNEW YORK, Aug 28 (Reuters) - Insurance giant American International Group has paused the auction of its aircraft leasing firm, International Lease Finance Corp. (ILFC), as its new CEO reviews the divestiture...Source: RSS feed - channel BNewsBusiness | 28 Aug 2009 | 7:03 pm James Murdoch: unchecked BBC expansion is 'chilling'An out-of-control BBC and addiction to central planning by regulators are damaging democracy and media choice in Britain, James Murdoch said in Edinburgh last night. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm At leisure: Sailing brings Frank Martin relief from recessionIt is, perhaps, not the best day to be discussing sailing with Frank Martin. The affable Hornby chief executive has just spent the past six hours in his yacht Surprise, which he has been racing in the Ramsgate Regatta. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Stagecoach ponders late bid for National ExpressStagecoach is considering a last-minute bid for National Express after its rival turned down an offer from CVC Capital Partners to take it private. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Builders benefit as retired couples decide to go back to townEmpty-nesters and retiring couples are riding to the rescue of developers trying to sell apartments in city blocks. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm China Investment Corp bails out Canary Wharf owner Songbird EstatesChina’s state sovereign wealth fund has bailed out the heavily indebted majority owner of Canary Wharf in its first big investment in Britain. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Champagne grapes will rot as producers protect pricesHopes of a glut of cheap champagne are set to be dashed when vineyards meet next week to agree on a big cut in production to prop up prices. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Big shot of the week: Lord Turner and the great bank bailoutFew financiers are asked to start a new job on a Saturday morning. But the Financial Services Authority had good reason to demand that Lord Turner of Ecchinswell take up his post as chairman of the City regulator on Saturday September 20, 2008. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm They thought it was a mirage, but black gold is gushing in the Indian desertThousands of villagers will trek across the Rajasthan desert of northwestern India today to be present at a little piece of history, each of them hoping to glimpse Manmohan Singh as he becomes the first Indian Prime Minister to visit the remote region. They will also be celebrating a triumphant business gamble taken 12 years ago by a former Scotland rugby international. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Civil Service pensions get six times moreA career civil servant approaching 50 stands to reap nearly six times as much in employer pension contributions as their private sector counterpart, research has found. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Too big for their own goodA tentative threat by regulators this week to slap a tax on City trading has triggered a furious response in the Square Mile. Bankers and traders are hopping mad. Even the CBI has blasted the idea. But I wonder whether it wasn’t the suggestion that some bankers serve no useful purpose that really got under the skin of so many people. Source: Latest Business News from Times Online | 28 Aug 2009 | 6:00 pm Identity theft suspect faces decades in jailThe only man named by authorities in what they are calling the largest identity theft in history has agreed to plead guilty to charges in an earlier case, suggesting that the bigger probe is fizzling outSource: Financial Times - US homepage | 28 Aug 2009 | 5:21 pm Sun posts loss as Oracle purchase draws nearSun Microsystems reports a quarterly loss as the onetime Silicon Valley icon draws close to a planned sale to Oracle.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 5:20 pm Sun Microsystems posts loss as Oracle deal nearsSAN FRANCISCO (Reuters) - Sun Microsystems Inc reported a fourth quarter loss on Friday, as the computer server maker's planned acquisition by Oracle Corp nears expected completion.Source: Reuters: Business News | 28 Aug 2009 | 5:05 pm Sun Microsystems posts loss as Oracle deal nears (Reuters)Reuters - Sun Microsystems Inc reported a fourth quarter loss on Friday, as the computer server maker's planned acquisition by Oracle Corp nears expected completion.Source: Yahoo! News: Business | 28 Aug 2009 | 5:05 pm 'Generous pensions' row reignitesEmployers would have to contribute up to 35% of an employee's salary to match the public sector, a study claims.Source: BBC News | Business | World Edition | 28 Aug 2009 | 5:04 pm ‘N Korean arms for Iran’ seized by UAEThe United Arab Emirates has seized a ship secretly carrying embargoed North Korean arms to Iran, say diplomatsSource: Financial Times - US homepage | 28 Aug 2009 | 4:59 pm 'Not enough women in technology'There are still too few women working in technology in the UK, the government's digital champion Martha Lane Fox tells the BBC.Source: BBC News | Business | World Edition | 28 Aug 2009 | 4:58 pm Small talk: Malibu sewage and ViagraMarketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers Paddy Hirsch, Amy Scott and Phyllis Owens about under-the-radar business stories, including the "Viagra Effect" and Malibu's first town hall.Source: Marketplace | 28 Aug 2009 | 4:54 pm Judge puts Fed's bailout revelations on holdNEW YORK (Reuters) - The U.S. Federal Reserve won a delay of a federal judge's order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received.Source: Reuters: Business News | 28 Aug 2009 | 4:48 pm China Unicom in 3-year deal for Apple's iPhoneBEIJING/HONG KONG (Reuters) - Apple's iPhone will go on sale later this year in China, the world's largest mobile market, but its partner China Unicom may find selling the phone carries its own burdens.Source: Reuters: Business News | 28 Aug 2009 | 4:39 pm Stocks mostly lower; Nasdaq buoyed by Intel news (AP)
Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 4:26 pm Stocks mostly lower; Nasdaq buoyed by Intel news (AP)
Source: Yahoo! News: Business | 28 Aug 2009 | 4:26 pm Top Ten: The week's best news and commentary, Aug. 24-28The week was marked by beginnings and endings, from the death of Democratic Party icon Ted Kennedy to the reappointment of Fed chief Ben Bernanke by President Obama, and punctuated by hope, from the latest hints that the housing market is ready to rebound to word that the "Dreamliner" nightmare is nearly finished.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 4:12 pm Dow snaps winning streakStocks seesawed Friday as investors welcomed corporate news from Intel and Dell that signaled a bottom in the PC market, but mostly played it cautious after pushing the markets to 2009 highs in the previous session.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 4:10 pm As U.S. Open unveils, race also heats off courtSports-apparel retailers are serving up new attractions for the U.S. Open, hoping to recoup business from the professional tennis tournament in New York City.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 4:06 pm After Hours: E-Trade takes back gains after hoursE-Trade shares dropped fractionally in late trading, losing earlier gains. It was the biggest gainer in the S&P 500 Index during the day.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 4:04 pm Why deficits will mean higher taxesA $9 trillion federal deficit over 10 years may be too hard to comprehend. But this part is easy: Such unwieldy amounts of debt could have an impact on Americans' bottom line one way or the other -- if not tomorrow, then the day after.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 4:00 pm Nortel hit with $3 billion tax billBankrupt Canadian telecom equipment maker Nortel Networks Corp. owes the United States Internal Revenue Service a staggering $3 billion in taxes and interest, according to a claim filed in the company's bankruptcy case.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 3:59 pm Dow, S&P dip; Nasdaq ekes out gain on Dell, IntelNEW YORK (Reuters) - U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive news from bellwethers Dell Inc and Intel Corp .Source: Reuters: Business News | 28 Aug 2009 | 3:48 pm Whirlpool to shut Indiana plant, cut 1,100 jobsWhirlpool Corp. will close its Evansville, Ind., factory next year, moving the plant's production of top-freezer refrigerators to a facility in Mexico.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 3:32 pm Weekend Investor: Small-cap stocks' best days may be doneAs the U.S. economy regains its footing, some analysts are warning investors not to expect small stocks to continue to churn out powerful gains -- as they did in the last recovery.
Source: MarketWatch.com - Top Stories | 28 Aug 2009 | 3:32 pm Diageo protest at golf tournamentWorkers protesting against job losses at drinks firm Diageo target a golf championship sponsored by the firm.Source: BBC News | Business | World Edition | 28 Aug 2009 | 3:30 pm Cyclacel Pharmaceuticals faces Nasdaq delisting (AP)AP - Cyclacel Pharmaceuticals Inc. said Friday it could be delisted from Nasdaq because it does not comply with the $10 million minimum shareholder equity requirement.Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 3:21 pm Stop the market insanityThe market keeps chugging along. But with speculative stocks like AIG and Vonage leading the way, you have to wonder if the rally won't soon go off the rails like Ozzy Osbourne's Crazy Train. Ay-Ay-Ay!Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 3:19 pm Intel raises sales forecast; shares jump 4%NEW YORK -- Intel Corp. raised its third-quarter revenue forecast above Wall Street's expectations today, citing strong demand for its chips and giving another signal that business is improving for one of the world's biggest technology companies. Intel shares rose 4 percent.
Source: L.A. Times - Business | 28 Aug 2009 | 3:16 pm Virtual Bank Run Holds Real Lessons By Laura Conaway Bank failure is getting a dry run in the multiplayer online game EVE. In recent weeks, EVE's largest player-controlled bank has hit the skids after one player embezzled and sold for real the InterStellarKredits -- ISK -- that are the coin of the imaginary realm. That caused a run on the bank. Then came an admission from Ebanks's CEO of bad management, followed by a string of loan defaults. Now the bank has frozen customer accounts. Ars Technica has the rest: The main problem with Ebank's account freezing is that it could do some serious harm to the game's economy, mainly because players won't be able to withdraw their funds in order to pay for in-game goods and services. Listener Brian Saar, who sends the story, calls it "a virtual laboratory for what happens without the FDIC." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Aug 2009 | 3:14 pm How the major stock indexes fared on Friday (AP)AP - Stocks mostly fell Friday as investors balked at extending the market's recent rally despite an improved outlook from Intel Corp. Trading was quiet, as it has been all week, as summer vacations kept many traders out of the market. With fewer participants, the market has lost some of its recent momentum that sent the major indexes up about 5 percent in less than two weeks.Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 3:13 pm Write-Offs: 08.28.09$$$ Obama Pay Czar No Stranger To Big Paychecks [Reuters] $$$ Deloitte Snagging Chrysler Audit from KPMG? [GC] $$$ Mary Schapiro: "We Need Significantly More Money" [ZH] $$$ Police baffled as dozens of 'suicidal' cows throw themselves off cliff in the Alps [Daily Mail] $$$ Job of the Week: UBS needs an associate director. You. [DB Career Center] 
 Sponsored Topics: UBS AG - Alps - Business - Deloitte Touche Tohmatsu - Mary Schapiro Source: Dealbreaker | 28 Aug 2009 | 3:00 pm Mega mania: Jackpot swells to $333 millionUndeterred by the miniscule odds, people were lining up Friday for a chance to score the estimated $333 million Mega Millions jackpot.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 2:58 pm Wall St in mixed tradeUS stocks traded mixed this morning as the market reacted to lacklustre economic data along with upwardly revised forecasts from chipmaking giant Intel Corp and computer maker Dell. The blue-chip Dow Jones Industrial Average lost...Source: New Zealand Herald - Business | 28 Aug 2009 | 2:55 pm Dow, S&P dip; Nasdaq ekes out gain on Dell, Intel (Reuters)
Source: Yahoo! News: Business | 28 Aug 2009 | 2:54 pm Dow, S&P dip; Nasdaq ekes out gain on Dell, Intel (Reuters)
Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 2:54 pm Funny thing: This market healed itselfSick of bailout billions? Here's a bit of good news: While the government struggled to come up with a viable recovery plan, one ailing financial market has managed to heal itself.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 2:52 pm The birthplace of the organic food revolutionWhen Alice Waters opened Chez Panisse in Berkeley in 1971, she wasn't trying to start a food revolution. Here's how her neighborhood restaurant became the epicenter of the organic movement.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 2:51 pm Noble's Jordan on Defense Tech Shares, Hayes on Markets: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 2:49 pm Pensions apartheid gap widens to £17300Private sector workers will need to contribute a total 37pc of their salary into their pension to match the retirement income paid to a public sector worker on a similar earnings.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 2:43 pm Court rejects FCC cable ownership limitWASHINGTON (Reuters) - A U.S. court struck down a rule limiting a cable company to no more than 30 percent of the subscription television market, a victory for companies like Comcast Corp that could spark many industry deals.Source: Reuters: Business News | 28 Aug 2009 | 2:40 pm Consumer spending up, but morale at 4-month lowWASHINGTON (Reuters) - Worries over high unemployment pushed U.S. consumer confidence to a four-month low in August, while spending rose modestly in July, indicating the economy's recovery from recession would be lethargic.Source: Reuters: Business News | 28 Aug 2009 | 2:31 pm Consumer spending up, but morale at 4-month low (Reuters)
Source: Yahoo! News: Business | 28 Aug 2009 | 2:31 pm Cerberus clients overwhelmingly want out: report (Reuters)Reuters - Cerberus Capital Management has been swamped with redemption requests with the Wall Street Journal reporting that investors are asking to pull out $5.5 billion or 71 percent of assets from its hedge funds.Source: Yahoo! News: Business | 28 Aug 2009 | 2:21 pm Cerberus clients overwhelmingly want out: reportBOSTON (Reuters) - Cerberus Capital Management has been swamped with redemption requests with the Wall Street Journal reporting that investors are asking to pull out $5.5 billion or 71 percent of assets from its hedge funds.Source: Reuters: Business News | 28 Aug 2009 | 2:21 pm Compulsive debtors turn for helpWe've all heard about Alcoholics Anonymous. But Debtors Anonymous? Marketplace Money profiles three members.Source: Marketplace Money | 28 Aug 2009 | 2:03 pm Getting PersonalHost Tess Vigeland and Economics Editor Chris Farrell field listeners' questions about moving in with the boyfriend and mortgage insurance products.Source: Marketplace Money | 28 Aug 2009 | 1:55 pm iPhone the bandwidth hogThe way consumers use Apple's mobile phone (i.e., constantly) means big headaches for carrier AT&T. And more smartphones are on the way.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 1:49 pm Hacker in massive ID theft pleads guiltyRead full story for latest details.Source: Business and financial news - CNNMoney.com | 28 Aug 2009 | 1:49 pm New Orleans four years after KatrinaWith everything that's been going on with the economy, it's easy to forget that some families lost everything years ago. Host Tess Vigeland speaks to the King family about what their life is like four years after Hurricane Katrina.Source: Marketplace Money | 28 Aug 2009 | 1:44 pm Blockbuster shares jump after Irish retailer sale (AP)AP - Shares of Blockbuster Inc. jumped Friday after the chain said it sold Irish entertainment retailer Xtra-vision Ltd. in a deal valued at up to $45 million.Source: Yahoo! News: Business | 28 Aug 2009 | 1:41 pm China's Canary Wharf deal shows foreign investors have faith in the CityWe know that Asian investors are keen on UK property as witnessed by our story two weeks ago revealing the Indian and Abu Dhabi families who have been sizing up British Land as a bid target.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:41 pm Guardian to increase cover pricesThe Guardian newspaper part of the loss making Guardian News & Media will increase it selling prices next week.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:38 pm The Independent sees titles breaking even in 2010The new chief executive of Independent News & Media believes its flagship lossmaking Independent titles will break even by the end of next year.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:37 pm Pensions apartheid is simply unbelievableThe startling study from PricewaterhouseCoopers on the vast gulf between the generosity of civil service pensions and their private sector equivalents is jawdropping.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:36 pm James Murdoch targets BBC 'landgrabbing'News Corporation chief urges shakeup in regulation reports Amanda AndrewsSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:34 pm NisaToday's and National Express signal the end for pushover takeoversOne day two bid rejections. First NisaToday's the convenience store business said thanks but no thanks to Bibby Line. Then National Express having considered a private equitybacked bid at 450p has said the same thing.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:31 pm A dash for trash may yet become a flight to qualityThanks to the recent bounce, the stock market entertains hopes of a strong sustained recovery that will probably not be fulfilled, writes John PlenderSource: Financial Times - US homepage | 28 Aug 2009 | 1:28 pm China invests in Canary Wharf with £880m bailout of SongbirdQatar has joined the Chinese sovereign wealth fund in supporting a substantial equity raising.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:25 pm Berlusconi sues over scandal allegationsPlagued by media reports over his relationships with prostitutes and teenagers, Silvio Berlusconi, Italy’s prime ministerand media tycoon, sought to silence his critics with a raft of lawsuits against at least three newspapers in Italy, France and SpainSource: Financial Times - US homepage | 28 Aug 2009 | 1:20 pm California turns to ‘garage sale’ for fundsArnold Schwarzenegger has come up with a novel way to raise funds for cash-strapped California. He has ordered officials to sell surplus state property, with some of it signed by the movie star-turned governor to increase its valueSource: Financial Times - US homepage | 28 Aug 2009 | 1:19 pm Lloyds leads as bluechips edge towards 5000Lloyds Banking Group was the top performer as the bluechip index moved closer to the 5000 mark with a rise of just over 0.8pc.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:19 pm Iceland to pay Britain £2.3bn for Icesave collapseUK savers who lost money when the Icesave internet bank collapsed last autumn will get their money back.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Aug 2009 | 1:16 pm Oil up slightly on economic optimismNEW YORK (Reuters) - Oil prices rose slightly on Friday amid lingering optimism that the recession is ending, spelling a rebound in ailing world energy demand.Source: Reuters: Business News | 28 Aug 2009 | 1:14 pm SEC slapped on oversight of credit agencies (Reuters)Reuters - The Securities and Exchange Commission's internal watchdog has criticized the agency for approving a credit rating agency, even though it had suspicions about the accuracy of its financial information.Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 1:09 pm Consumers spending what they saveThe Commerce Department said consumer spending rose in July, but household incomes were unchanged. Bob Moon reports a lot of the extra spending money is coming from our savings.Source: Marketplace | 28 Aug 2009 | 1:02 pm Recession finally hits the farmUp til now, farmers have survived the recession relatively unscathed. But according to a forecast by the U.S. Agriculture Department, farm profits will fall 38% this year. How will this play out at the grocery store? Jeff Tyler reports.Source: Marketplace | 28 Aug 2009 | 1:01 pm Classic cars put investors in pole positionSomeone who bought a rare Bugatti, Jaguar or Ferrari in top condition would have done better during the downturn than an investor in almost any other asset, industry observers say, including stocks, fine art or even goldSource: Financial Times - US homepage | 28 Aug 2009 | 1:00 pm Paradise lost for Fiji investorsFiji may be tropical but it has turned out to be no paradise for New Zealand investors, developers and financiers. Three big New Zealand-funded developments have hit trouble. The Strategic Finance-backed Fiji Beach Resort &...Source: New Zealand Herald - Business | 28 Aug 2009 | 1:00 pm Take a fun flight with an economistEconomist Paul Kedrosky recently flew into Newark Airport and his flight was early. But rather than bask in his extra 15 minutes, he spent a long time trying to figure out why. He takes us on a logistical thrill ride.Source: Marketplace | 28 Aug 2009 | 12:57 pm Not a tranquil week for Wall StreetKai Ryssdal gets a look at what happened in the markets the last full week of August with business writers Heidi Moore and Megan McArdle from The Atlantic magazine.Source: Marketplace | 28 Aug 2009 | 12:51 pm SOMEBODY SAVE BIFF BASNESS!
Sponsored Topics: Greenwich - London - England - Aquarius - Travel and Tourism Source: Dealbreaker | 28 Aug 2009 | 12:43 pm The New Secrecy At The FDICBy Laura Conaway American Banker is reporting that the FDIC has put the clamp on releasing certain types of information. Specifically, the FDIC has decided that for now it will no longer reveal losing bids for the assets for failed banks. If you're the winner, your bid is still public. If you're one of the losers, it's not. In a note about "Failed Financial Institution Bid Documents," the FDIC writes: The FDIC is currently undertaking a review of its disclosure policy concerning failed institution bids to ensure that the bidding process encourages an open flow of information and attracts the maximum participation by interested parties. American Banker says banks don't like the secrecy because they used the data to help calculate future bids. Over at Reuters, Matthew Goldstein knocks the FDIC for playing "hide the ball" in a year when 81 banks have failed. The number of troubled banks has jumped from 305 to 416. Goldstein writes: [T]he FDIC has been forced to close banks at a brisk clip and just put in place a plan for allowing private equity firms to bid on bank assets. Banks and other financial institutions never like to show weakness, and the issue of disclosure has been a sticky one throughout the economic crisis. A court recently ruled that the Federal Reserve must reveal the names of banks that have received help from its emergency loan program. American Bankers reports that an unnamed source described as "familiar with the FDIC's thinking" says the agency is worried about a situation where a bank submits the highest bid but is rejected anyway. Would that leave the impression that the bidding bank was itself in trouble? Jeffrey C. Gerrish, a former FDIC attorney, has a slightly different theory. "They don't want to do anything that chills acquirers bidding on failed banks," he told Ameican Banker. "The rationale might be, 'We don't want these folks who weren't successful to be in the public because they bid on it.' " The FDIC expects to make a final decision by the end of September, American Banker reports. (H/T: Ryan Chittum at Columbia Journalism Review) » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Aug 2009 | 12:41 pm Guaranty Financial files Chapter 11NEW YORK (Reuters) - Guaranty Financial Group Inc has filed for Chapter 11 bankruptcy protection, less than a week after regulators seized its banking unit and sold most of its assets to the Spanish bank, Banco Bilbao Vizcaya Argentaria SA.Source: Reuters: Business News | 28 Aug 2009 | 12:40 pm No credit card for my college-bound sonIt's that time of year again: young adults are schlepping off to college, many of them for the first time. How are parents handling the whole money conversation? Commentator Harriett Brackey tells her story.Source: Marketplace Money | 28 Aug 2009 | 12:31 pm ‘Shorters’ retreat helps fuel volatilityShort sellers have been deserting the US stock market in droves during its sluggish summer sessions in a retreat that has helped fuel the recent volatile trading in AIG and other beaten-down financial shares, analysts saidSource: Financial Times - US homepage | 28 Aug 2009 | 12:30 pm Airport pulls back on new runwayAuckland Airport is putting the brakes on building its northern runway to save $9 million this year as it forecasts a weakening in underlying profit due to soft passenger numbers. The company expects profit to range from $93 million...Source: New Zealand Herald - Business | 28 Aug 2009 | 12:30 pm Wine Company warningThe New Zealand Wine Company reported a 37 per cent fall in profit in a year it regarded as a watershed for the wine industry. The producer of Grove Mill and Sanctuary branded wines warned of the potential commoditisation of Marlborough...Source: New Zealand Herald - Business | 28 Aug 2009 | 12:30 pm App developers wary of Apple’s influenceThe success of the new model of co-operation around the App Store has exposed Apple to interest from regulators and is provoking a backlash in parts of Silicon ValleySource: Financial Times - US homepage | 28 Aug 2009 | 12:28 pm This Week’s LinksCredit Writedowns has a good resource of healthcare reform (debate) links. 2/3 of harvested organs in China come from executed prisoners. Speaking of China…they’re also dumping solar panels into US markets to gain an international industry edge. Pet rapture insurance. Seriously. John Jantsch shares 5 Tips for Getting More from Social Media Marketing.
Source: Business Pundit | 28 Aug 2009 | 12:26 pm Is cable's win a loss for subscribers?Two years ago, the FCC said a single cable provider can't serve more than 30 percent of the nation's subscribers. The cable companies sued, and today they won their case. Alisa Roth explores what this means for consumers.Source: Marketplace | 28 Aug 2009 | 12:25 pm China lights up hope for Big TobaccoThe FDA's first tobacco regulator will begin work Sept. 14. But Big Tobacco is looking to China's emerging market to keep profits smoking. China bureau chief Scott Tong explains to Kai Ryssdal how smoking is interwoven into Chinese life.Source: Marketplace | 28 Aug 2009 | 12:18 pm Small swap deals get radio sales powerIf you think Craigslist or eBay are entertaining places to hock or buy wares, how about radio? Jennifer Collins previews shows around the country which provide an on-air yard sale. Also, she's selling some microphones in good condition.Source: Marketplace | 28 Aug 2009 | 12:06 pm Wrangle over Kennedy’s healthcare legacyDemocrats and Republicans were already squabbling bitterly over Ted Kennedy’s legacy in advance of his funeral at a Catholic church in Boston and his burial alongside his two assassinated brothers at the national cemetery in ArlingtonSource: Financial Times - US homepage | 28 Aug 2009 | 12:01 pm Finding work is a tough jobAfter three months, more than 50 job applications and regular contact with 30-plus recruitment agencies, Giles Aubrey is still unemployed. The 37-year-old IT project manager has sent out mass emails, posted a video on YouTube,...Source: New Zealand Herald - Business | 28 Aug 2009 | 12:00 pm Nigeria banking system 'stable'The governor of Nigeria's Central Bank says the country's banking system is sound following the financial scandal that has rocked the country.Source: BBC News | Business | World Edition | 28 Aug 2009 | 11:55 am 24/7 Wall St. TV: August Cars Sales, And BeyondAugust light vehicle sales in the US have to be good. The “clunkers” program produced almost 700,000 sales. The industry might as well enjoy it while its lasts. September and the rest of the year will be awful. Edmunds predicts that the 1.17 million cars will be sold this month, which is up 18% from last [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 11:54 am Trader Crack: AIG Goes To $100 (AIG, C, BAC, HIG, MET, YHOO)The DJIA has risen for eight straight days and the verdict is still out as to how today’s close will go. With major indexes trading over 50% above their March lows and with all the troubled and speculative financial stocks trading like the new ghetto replacement for crack, you know you are in the midst [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 11:50 am A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Friday:Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 11:46 am More Rigs Chasing Higher Oil (BHI, OIH, USO, OIL)Rig Counts Chasing Oil Prices (OIH, USO, OIL) The weekly rig count data from Baker Hughes Inc. (NYSE: BHI) is out, and this last week we are seeing a bump in rig counts across the board. These might be way down from peak drilling levels in 2008 when oil was well over $100, but this is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 11:42 am Pic: What's For Free At StarbucksJen Firlik, who sent those amazing photos of a dress marked down from $28,000, got this receipt at Starbucks the other day: 
Shared planet? No charge for that. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 28 Aug 2009 | 11:41 am Economy hands Gen Y rude awakeningWe've all met them, 20-somethings who've been coddled by their parents and seem to expect everything to be handed to them. But the economy might just be changing Gen Y's outlook. Gigi Douban reports.Source: Marketplace Money | 28 Aug 2009 | 11:36 am Alan Bollard: Lessons from Jackson HoleBy Reserve Bank Governor Alan Bollard Once a year, Jackson Hole in Wyoming hosts the world's central bankers. Under the craggy ranges of the Teton Mountain Range, we met last weekend to discuss how well monetary and financial...Source: New Zealand Herald - Business | 28 Aug 2009 | 11:30 am Tenon profit slashedTenon, a supplier of wood mouldings to the US housing market, has reported a nil bottom line profit in the year to June 30. This compares with a US$3 million ($4.3 million) profit in the same period last year. Earnings before...Source: New Zealand Herald - Business | 28 Aug 2009 | 11:30 am Wittmann Says Hotel Revenue Down 18% in 2009: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 11:24 am AIG CEO Sees No Need To Work In The OfficeAccording to Robert Benmosche, the people who have been on his case for kicking off his AIG career by tending his grapes in Croatia, have it all wrong. The truth of the matter is he really doesn't need anybody else around and can fulfill all of the duties of CEO of one of the most troubled companies in the world by telecommuting.
Sponsored Topics: Croatia - Telecommuting - American International Group - Business - Travel and Tourism Source: Dealbreaker | 28 Aug 2009 | 11:15 am Biggs Says Emerging Markets Will Be Next Bubble: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 11:13 am Iceland to pay back Icesave cashThe Icelandic parliament votes in favour of repaying more than $5bn (£3bn) to the governments of the UK and the Netherlands.Source: BBC News | Business | World Edition | 28 Aug 2009 | 11:06 am Social Security left without a boostSocial Security payments usually increase by a small amount each year to adjust for cost of living. But thanks to the recession, those living off the government-issued checks won't be seeing more dollar signs this year. Tamara Keith reports.Source: Marketplace Money | 28 Aug 2009 | 10:59 am FTSE shares close up on positive data (AFP)
Source: Yahoo! News: Business | 28 Aug 2009 | 10:36 am FTSE shares close up on positive data (AFP)
Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 10:36 am Sleep Where Steve Schwarzman's Crabs Hath Slept
Blackstone's Schwarzman Lists Hamptons Home [WSJ via Cityfile]
Sponsored Topics: East Hampton - Hampton - Tennis court - Watermill - Tennis Source: Dealbreaker | 28 Aug 2009 | 10:33 am Port payout dropsNorthland Port has reported a $2.69 million profit for a year in which the port handled 1.64 million tonnes of cargo, up 200,000 tonnes on last year. The profit in the year to June 30 is down from $10.05 million last year, when...Source: New Zealand Herald - Business | 28 Aug 2009 | 10:30 am Sanofi-Aventis Rasied to `Overweight’ at JPMorgan: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 10:22 am Boockvar `More Optimistic’ on Stocks Outside U.S.: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 10:20 am Argentine farmers resume strikesArgentine farmers resume strikes as part of a bitter dispute with the government over taxes on soya bean exports.Source: BBC News | Business | World Edition | 28 Aug 2009 | 10:17 am Moffett, Wolff Discuss Media, Newspaper Industries: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 10:08 am Iceland To Save Itself By Parting With Half Of Yearly Economic Output
Iceland's Approves Bank Bill, Averting Diplomatic Crisis [WSJ]
Sponsored Topics: Iceland - Landsbanki - Icesave dispute - European Union - Maps and Views Source: Dealbreaker | 28 Aug 2009 | 10:06 am Presented By:Source: Dealbreaker | 28 Aug 2009 | 10:06 am Roaming rate call delayedThe Commerce Commission has delayed a decision on whether it will regulate mobile phone roaming charges. National roaming allows subscribers of one mobile network to use their handset on a different mobile network to make and receive...Source: New Zealand Herald - Business | 28 Aug 2009 | 10:00 am Jon Najarian, Is This Your Handiwork?
Earlier: CNBC Employee Demands More Amanda Drury Cleave
Sponsored Topics: CNBC - Business - Financial Services - Insurance - United States Source: Dealbreaker | 28 Aug 2009 | 9:51 am Inflation, Income Flat In July, While 'Clunkers' Sparks Spending
Enlarge: A little less last month, but still way up from 2008. (Calculated Risk) By Laura Conaway Inflation remains a nonfactor, the Bureau of Economic Analysis says today in the Personal Income and Outlay report for July. The BEA's price index increased less than 0.1 percent, compared to 0.5 percent in June. If you take out the volatile prices of food and energy, you're still looking at an increase of 0.1 percent, compared to 0.2 percent in June. Economists consider inflation of 2 or 3 percent healthy. Inflation is especially important to watch now that the recession appears to be bottoming out. As long as it stays out of the picture, the Federal Reserve says it will keep interest rates at record lows in an effort to stimulate the economy. Meanwhile the Bureau of Economic Analysis reports that disposable personal income, meaning what's left over after taxes, fell by not quite 0.1 percent last month. For the third straight month, spending grew -- this time by 0.2 percent over June. Personal savings fell to 4.2 percent of disposable income, from 4.5 percent. You're making a little less. And you're spending a little more. On what? Cash for Clunkers, for one thing. Spending on durable goods -- stuff that's supposed to last three years or more, like cars -- went up 1.3 percent. The federal $787 billion stimulus is written all over the income and spending numbers, starting with the $3 billion Clunkers program. On in the income side, note that in May, people on Social Security and railroad retirement benefits got a one-time payment for $250, for a total of $157.6 billion. In June, folks on veterans benefits got the same deal, for a total of $5.6 billion. Those so-called personal current transfers made May's income figures higher than they would have been otherwise, and caused June and July to look lower by comparison. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Aug 2009 | 9:46 am Starbucks Snags S&P Upgrade (SBUX)The debt ratings agencies might be tarnished on many fronts, but traders for debt and equities still pay attention to debt ratings agencies when they raise ratings on companies. That is exactly what has happened today at Starbucks Corp. (NASDAQ: SBUX). Standard & Poor’s has raised the upscale coffee retailer’s short-term debt ratings and revised [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 9:44 am Giants Looking To Hit Lehman Hard
Sponsored Topics: New York Giants - Quarterback - Joseph Gregory - New York - United States Source: Dealbreaker | 28 Aug 2009 | 9:05 am Creditsights' Ballard Says U.S. to Outperform Europe: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 9:03 am Publishing To Get a Bump
Publishing experts preoldict that the week of September 14th could be a historic week in the publishing industry. Boosting sales will be Oprah’s book club pick #63, the debut of Dan Brown’s The Lost Symbol, and the publication of Ted Kennedy’s memoir, True Compass. Oprah Winfrey tweeted this on Monday:
And the Winner Is….Based on that “mysterious” Tweet, Oprah’s history, and a quick Amazon search, I’m predicting the she’ll announce This, by Sri H.W.L. Poonja as her next Book Club winner pick. Why This? Her cute Tweet was an easy clue, and the first pages of This on Amazon are all about the self and its nothingness and everythingness and how we’ll all return to the everything and the nothing - the THIS - eventually. It reminded me of a recent program on Discovery that tried to explain how the universe is actually made up of more nothing than something. It also reminded me of another of Oprah’s picks, Eckhart Tolle’s A New Earth. I could be wrong, but just as with the lottery, it’s fun to speculate. More Good News For BooksAs if Oprah, Brown, and Kennedy weren’t enough, the President of the United States is contributing to book sales as well. It seems the publishing lobby got to the Obama administration. How else can we account for headlines about Obama’s vacation reading? The list includes:
I guess it helps to have Secret Service agents to carry your books. And entertain your kids while you soak up the rays and relax with a few good books. Do your part for the economy - buy a book. Image Credit: sapphireblue, Flickr
Source: Business Pundit | 28 Aug 2009 | 8:50 am Consumer sentiment at 4-month low (Reuters)
Source: Yahoo! News: Business | 28 Aug 2009 | 8:28 am This Week’s Weird Jobs
This week’s gallant gigs include writing parking tickets, teaching high school math, exposing your belly button, and plumbing for exposure. Yes, that last item really is a job description. Which gig below would you choose, if you had to? 1. Indiana: Courtesy Officer Needed Must be okay with the fact that most residents hate you. Funny, they never specify “hairy or smooth” when looking for female belly models… By the way, by “not quite normal,” we mean zombies. But you can deal with that, right? Denver Public Schools is currently seeking an outstanding Math Teacher for the 2009-10 school year at a large high school with approximately 1800 students. In addition to professional development and training, we offer a comprehensive compensation package that includes: The only downside is, well, your job: Teaching math to bored high school students. I’m just getting started in my new home and I’m looking for plumbers to come in for 1 to 2 hours a night to get exposure for your plumbing and a frozen pizza. The old owners used to go for galvanized, but I’m thinking my fixtures might like some copper or PEX. This is a great opportunity to show off your plumbing skills to everyone who ever craps at my house. I don’t have any materials here, so be sure to bring your own pipes, tools and whatever else you need to really plumb your best. If your first night goes well, you’ll be considered for some paying plumbing in the future. Unless my calendar is already full of plumbers willing to work for free. Wow. I wonder if anyone actually responded to that post. Happy Friday!
Source: Business Pundit | 28 Aug 2009 | 8:02 am Green shoots?German banking centre's cautious economic optimismSource: BBC News | Business | World Edition | 28 Aug 2009 | 7:51 am JPMorgan's Kasman Sees 3% U.S. GDP in Third Quarter: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 7:32 am Intel Guidance Highlights Peers & Comps (INTC, AMD, MSFT, NVDA, MU, DELL)Intel Corporation (NASDAQ: INTC) is raising guidance this morning. What is interesting is that this may actually highlight the strength among its peers and competitors more than it drives Intel shares alone. The guidance was raised based upon “stronger than expected demand for microprocessors and chipsets.” The processor giant now sees Q3 revenue of $9.0 billion, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 7:31 am Wiener Says New Vanguard ETFs Will Carry More Risk: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 7:31 am Williams Sees 3% to 7% Drop for U.S. Stocks This Year: AudioSource: Bloomberg - All Podcasts | 28 Aug 2009 | 7:26 am US consumer spending rises againUS consumer spending rose slightly in July, helped in part by the government's "cash for clunkers" car scrappage scheme.Source: BBC News | Business | World Edition | 28 Aug 2009 | 7:24 am AIG's Rising. Iceland's Paying. Plus: A Blood Oath For Stanford?By Laura Conaway Good morning. Shares of AIG have quadrupled in price over the last four months. Inquiring minds want to know why. Meanwhile the new CEO, Robert Benmosche, tells the Wall Street Journal (subs. requ'd.) he's content to wait up to three years to sell off the insurer's assets and pay back the federal government bailout money that could amount to $173 billion. The U.S. owns 80 percent of the troubled insurer. Japan's reporting record unemployment, falling wages, falling prices and ... economic growth. The U.K. reports its economy was shrinking less, by .7 percent last quarter. Iceland is moving to repay more than $5 billion to the U.K. and the Netherlands for compensating people who lost money in Icelandic banks last year. And R. Allen Stanford, accused of running a multibillion dollar Ponzi scheme, is said to have become blood brothers with the chief regulator of his bank in Antigua. The two men cut their wrists and mixed their blood in a 2003 meeting, according to details in a plea agreement signed by Stanford's chief financial officer, James M. Davis. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Aug 2009 | 7:00 am Opening Bell: 08.28.09
SEC's Schapiro Calls Derivatives Data 'Critical' for Probes (Bloomberg) Madoff Victims Fight Picard Over Profits (NYP) Treasury Document Called AIG Investment 'Highly Speculative' (Bloomberg) Banks 'Too Big to Fail' Have Grown Even Bigger (WaPo) Hedge Critic May Get SEC Risk Post (NYP)
Sponsored Topics: Sheila C. Bair - Federal Deposit Insurance Corporation - American International Group - Super Bowl - Freedom of Information Act Source: Dealbreaker | 28 Aug 2009 | 7:00 am Top Day Trader Alerts (MRVL, OVTI, DELL, AIG, ARUN, SVA)These are this Friday morning’s top day trader and active trader alerts with links through to each story with more detailed price and volume analysis over at VSInvestor.com: Marvell Technology Group Ltd. (NASDAQ: MRVL) is hitting new 52-week highs and is now a triple off lows after its strong report. OmniVision Technologies Inc. (NASDAQ: OVTI) is hitting [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 6:57 am Analyst Dumps Agriculture & Fertilizers (MOS, POT, MOO)This morning is looking a little rough for some of the farming, agriculture, fertilizer, and potash stocks. We have seen a downgrade in the sector from UBS this morning. Potash Corp. of Saskatchewan, Inc. (NYSE: POT) and Mosaic Co. (NYSE: MOS) were both downgraded to Neutral from Buy by the analyst team at UBS today. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 6:14 am Time to Take Action? (BusinessWeek)BusinessWeek - After the bear market wreaked havoc on your investments, did you kick any loser funds to the curb in favor of a simplified portfolio? If so, you're not alone. The trend to eschew actively managed mutual funds in favor of low-cost index funds has intensified during the recession, with investors adding more than $253 billion in funds with "passive" investing strategies since the end of 2007, vs. $72 billion taken out of active funds. In the first half of 2009, almost $22 billion in new cash was added to equity index funds, vs. $20 billion in net outflows for active stock funds. ...Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 6:08 am Top Analyst Upgrades and Downgrades (ABX, BDX, BMY, FUN, JCG, NEM, NENG, SNY, ZOLT)These are this morning’s top pre-market analyst upgrades, downgrades and initiations from Wall Street early this Friday: Barrick Gold (ABX) Started as Hold at Jefferies. Becton Dickinson (BDX) Started as Overweight at Jefferies. Bristol-Myers Squibb (BMY) Cut to Equal Weight at Morgan Stanley. Cedar Fair (FUN) Cut to Hold at KeyBanc. J. Crew (JCG) Raised to Buy at Citigroup; Raised [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 6:03 am A New Use for Webcams
Source: Business Pundit | 28 Aug 2009 | 5:37 am Japan jobless rate hits new highJapan's unemployment rate rose to a record 5.7% in July while consumer prices fell at a record pace.Source: BBC News | Business | World Edition | 28 Aug 2009 | 5:10 am European stocks rally as British recession eases (AFP)
Source: Yahoo! News: Stock Markets News | 28 Aug 2009 | 4:59 am Why The Stimulus Program Is Slow Going: 2,200 Applications For Broadband FundsPart of the $787 billion stimulus package is $28 billion set aside to improve the nation’s broadband infrastructure. According to USA Today, some of the applications are 500 pages long. The government has to sort through applications by telecom firms, cable companies, state and local governments, schools and libraries. And, that is just a partial list. The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 4:01 am Apple (AAPL) Finally Gets Its China DealApple (AAPL) finally has its deal to distribute the iPhone in China after months of rumors and speculation. China Unicom (CHU), the second largest wireless carrier on the mainland, says it has reached a three-year deal with Apple and will launch the iPhone toward the end of the year. According to The Wall Street Journal, China Unicom [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Aug 2009 | 3:43 am
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