European stocks suffer China fallout

Equities in Europe followed Asian stocks lower after the Shanghai Composite tumbled nearly 7 per cent, stoking fears that profits for those companies with operations in China will be damaged.China's mainland...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 4:25 am

Metallurgical Corp. of China moves ahead on IPOs

Metallurgical Corp. of China is seeking to raise about $4.7 billion through initial public offerings of stock in Shanghai and Hong Kong in coming weeks, according to media reports.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 4:18 am

Buffett to up stake in Chinese electric carmaker

Read full story for latest details.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 4:15 am

Asian markets fall as China plunges nearly 7 pct (AP)

AP - Asian markets sank Monday as Chinese stocks plunged nearly 7 percent and Japanese shares weakened after the country's opposition party came to power in a landslide victory. European stocks were mixed in early trade.

Source: Yahoo! News: Stock Markets News | 31 Aug 2009 | 4:13 am

European stocks fall amid concern on China, Japan (AFP)

AFP - Leading European stock markets lost ground in trading on Monday following drops in Asia owing to worry about the Chinese economy and results of a Japanese election, traders said.

Source: Yahoo! News: Stock Markets News | 31 Aug 2009 | 4:11 am

Property taxes: How to beat 'em

You know that your home's value has tanked. So why doesn't the blasted tax man? Home prices fell 27% from the 2006 peak to the end of 2008, according to the S&P/Case-Shiller Index, while the amount municipalities collected in property taxes rose 12% from 2006 to 2008.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 4:05 am

Audits Of The Fed May Begin Soon

Barney Frank and other Congressmen are anxious to pass a law that would allow the government to audit the Fed including what its assets are, how they are lent, who they are lent to, and what the results of the loans are. The Government Accountability Office, which is an agency of Congress, would do the work, [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 4:02 am

Blu-Ray drives see limited adoption on PCs

Blu-ray players are a popular consumer electronics product, but the drives have seen only a limited appeal for PCs. Analysts do not expect that to change anytime soon.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 4:01 am

Shanghai drops 6.7%, Tokyo retreats on yen gains

Chinese stocks on Monday suffer this year’s worst percentage fall, as investors already worried about a likely drop in bank lending dumped shares on concern that a large planned share offering would further sap liquidity.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 3:56 am

Indications: U.S. stocks futures lower as China sinks again

MADRID (MarketWatch) -- U.S. stock futures were pointing south on Monday with a small amount of data on tap, but another routing of China stocks expected to weigh on sentiment after the Shanghai index fell more than 6% overnight.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 3:53 am

For AT&T (T), The Apple (AAPL) iPhone Is A Bust

There are two ways to look at the economic relationship between Apple (AAPL) and AT&T (T) and both may be accurate. AT&T says it has signed up 10 million subscribers to buy the iPhone and take its long-term cellular calling plans. Many of those customers have come from other cellular provides. AT&T is thus adding new, [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 3:49 am

PGNiG confirms sees 2009 net profit despite H1 loss

WARSAW, Aug 31 (Reuters) - Poland's dominant gas provider PGNiG confirmed on Monday it expects to report a netprofit this year despite posting a loss of 493 million zlotys ($172 million) in the first...
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:35 am

Fuel duty to rise from midnight

A two pence rise in fuel duty will come into effect from midnight, which will be the third increase in nine months.
Source: BBC News | Business | World Edition | 31 Aug 2009 | 3:33 am

Nordic giant to buy Danish bank

Swedish bank Nordea signs a contract to buy Denmark's state-backed Fionia Bank for 121m euros.
Source: BBC News | Business | World Edition | 31 Aug 2009 | 3:31 am

Economists Make Their Case For Inflation

The latest poll by The National Association of Business Economists shows that 41% believe that the Fed’s actions will cause inflation during the next two years. The top reasons cited for concern were “lagged effects of policies now in effect”, “monetization of the debt” and “ineffective exit strategy.” Put another way, the Fed will not [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 3:30 am

What's next? Ask the bond market

When it comes time to plot out your investment strategy, you probably focus most of your attention on how equities are doing and pay scant attention to the inner workings of bonds. But ignore the fixed-income market at your peril.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 3:28 am

Asian markets fall as China plunges nearly 7 pct

Asian markets sank Monday as Chinese stocks plunged nearly 7 percent and Japanese shares weakened after the country's opposition party came to power in a landslide victory. European stocks...
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:24 am

The Fed’s $14 Billion Paper Profit

The Fed has made so many bank loans, most of them short term, over the last several quarters that it would bound to lose money. But, it hasn’t so far. The agency has made money on capital it has invested in helping soften the blow of the liquidity crisis. Accoring to the FT, “The Federal Reserve has made [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 3:22 am

Auto dealers in own financing hell

Most small businesses are having trouble finding loans and credit lines these days, but auto dealers are in their own special financing hell. Their inventory is expensive, their industry is in shambles, and their largest lenders are in tatters.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 3:14 am

Unipetrol says market remains weak in Q3

PRAGUE, Aug 31 (Reuters) - Czech downstream oil group Unipetrol said on Monday a weak market was only slowly stabilizing and conditions in the third quarter would remain unfavourable.
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:14 am

Wall Street confidence takes a hit

U.S. stocks were poised to tumble Monday morning, as another sharp fall in Chinese stocks knocked back investor confidence.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 3:13 am

Tax Avoidance And The 2011 GDP Dip

UK investment banks are preparing to pay many of their big earners at the beginning of 2010 to avoid an income tax on April 5. The Times points out that this may reinforce notions that investment bankers are now so greedy that they plan to shift taxable income from one year to the next.  Protests [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 3:12 am

Chinese shares swoon - down 6%

Read full story for latest details.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 3:10 am

BRIEF-Neste Oil says Porvoo diesel line now working

HELSINKI, Aug 31 (Reuters) - Neste Oil said on Monday:
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:09 am

UPDATE 1-Deals of the day -- mergers and acquisitions

(Adds Panasonic, Nordea, Tengzhong, Heidelberger Druck, Uralita)
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:07 am

China's BYD says Buffett wants to raise stake

HONG KONG (Reuters) - U.S. billionaire Warren Buffett intends to raise his stake in Chinese electric car and battery maker BYD Co Ltd , BYD's chairman said on Monday, sending shares in his...
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:06 am

China's BYD says Buffett wants to raise stake

HONG KONG (Reuters) - U.S. billionaire Warren Buffett intends to raise his stake in Chinese electric car and battery maker BYD Co Ltd , BYD's chairman said on Monday, sending shares in his company up 8 percent.
Source: Reuters: Business News | 31 Aug 2009 | 3:06 am

China's BYD says Buffett wants to raise stake (Reuters)

Reuters - U.S. billionaire Warren Buffett intends to raise his stake in Chinese electric car and battery maker BYD Co Ltd (1211.HK), BYD's chairman said on Monday, sending shares in his company up 8 percent.
Source: Yahoo! News: Business | 31 Aug 2009 | 3:06 am

Asian markets slip as China plunges nearly 7 pct

Asian markets fell sharply Monday as Chinese stocks plunged nearly 7 percent and Japanese shares weakened after the country's opposition party came to power in a landslide victory. European
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:06 am

UPDATE 2-China's BYD says Buffett wants to raise stake

* BYD keen on mainland A-share listing, maybe in the next yr
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:02 am

PGNiG sees 2009 net profit despite H1 loss-source

WARSAW, Aug 31 (Reuters) - Poland's dominant gas provider PGNiG expects to report a profit this year despite posting a loss of 493 million zlotys ($172 million) in the first half, a high-ranking company...
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 3:01 am

UPDATE 2-PGNiG turns to unexpected loss, shares at 7-wk low

WARSAW, Aug 31 (Reuters) - Poland's gas monopoly PGNiG turned to an unexpected second-quarter net loss due to higher prices for Russian imports and one-off charges, dragging its shares to their lowest...
Source: RSS feed - channel BNewsBusiness | 31 Aug 2009 | 2:51 am

Lockerbie And Crude Ethics

The Times of London claims that people within the British government turned over convicted Lockerbie bombing participant Abdelbaset Ali Mohmed al-Megrahi to Libya as part of an attempt to secure a major oil deal. The Times reported “Gordon Brown’s government made the decision after discussions between Libya and BP over a multi-million-pound oil exploration deal [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 2:50 am

Stock futures signal losses as commodities retreat (Reuters)

Reuters - U.S. stock index futures pointed to a lower open on Wall Street on Monday for the last session of the month, with futures for the S&P 500 down 0.78 percent, Dow Jones futures down 0.77 percent and Nasdaq 100 futures down 0.87 percent at 0825 GMT (4:25 a.m. EDT).

Source: Yahoo! News: Business | 31 Aug 2009 | 2:45 am

Stock futures signal losses as commodities retreat (Reuters)

Reuters - U.S. stock index futures pointed to a lower open on Wall Street on Monday for the last session of the month, with futures for the S&P 500 down 0.78 percent, Dow Jones futures down 0.77 percent and Nasdaq 100 futures down 0.87 percent at 0825 GMT (4:25 a.m. EDT).

Source: Yahoo! News: Stock Markets News | 31 Aug 2009 | 2:45 am

Stock futures signal losses as commodities retreat

(Reuters) - U.S. stock index futures pointed to a lower open on Wall Street on Monday for the last session of the month, with futures for the S&P 500 down 0.78 percent, Dow Jones futures down 0.77 percent and Nasdaq 100 futures down 0.87 percent at 0825 GMT (4:25 a.m. EDT).
Source: Reuters: Business News | 31 Aug 2009 | 2:45 am

Wall Street pro's billion-dollar woes

The week of Sept. 7, 2008, started out innocently enough for J. Christopher Flowers. The billionaire, whose eponymous private equity firm invests mostly in troubled financial companies, was in Tokyo to attend a board meeting when he received a call from a senior executive at Bank of America. The executive wanted him to return to New York as quickly as possible to partner in a potential deal to buy Lehman Brothers, which was in increasingly desperate straits.
Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 2:42 am

Democratic Party of Japan ushers in new era

The main opposition Democratic Party of Japan claims the helm of the world's second-largest economy, but the new government will face many challenges putting its promises into action, all while keeping Japan's precarious economic recovery on track.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 2:29 am

Europe Markets: Europe stocks slip on drugs, China losses

MADRID (MarketWatch) -- European stocks were trading lower on Monday, amid somewhat lower volumes with London closed for a holiday, as China's stock markets fell more than 5% on supply worries.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 2:20 am

Governor Arnie's garage sale raises $1.5m to cut California's budget deficit

A 'garage sale' organised by Arnold Schwarzenegger to raise money to help reduce California's budget deficit raises more than $1.5m (£925,000).
Source: BBC News | Business | World Edition | 31 Aug 2009 | 2:17 am

Indian economy continues to grow

India's economy showed annual growth of 6.1% in the second three months of the year, despite the global economic downturn.
Source: BBC News | Business | World Edition | 31 Aug 2009 | 2:15 am

Asia Markets: Japan undoes rally; market mulls election impact

Japanese stocks give up an early rally gains, turning negative, in the first trading session after Japanese voters handed the opposition Democratic Party of Japan a landslide victory over the long-ruling Liberal Democratic Party.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 2:15 am

Owner of O.C. paper may file for bankruptcy

Source: Business and financial news - CNNMoney.com | 31 Aug 2009 | 2:12 am

India's fiscal first-quarter GDP expands 6.1%

India's economic expansion slowed to 6.1% in the fiscal first quarter from the year-earlier period as growth in the manufacturing and agriculture sectors remained sluggish despite low interest rates and government stimulus spending.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 2:06 am

Media Digest 8/31/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The best investment for Chinese companies may be the nation’s own 1.3 billion person home market. Reuters:   Japan’s Democrats took power. Reuters:   Economists say there is no need for a second stimulus package. Reuters:   The Fed made $14 billion on loans made during the credit crisis. Reuters:   The rare metals in hybrid cars are growing more scarce. Reuters:  Tribune [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 2:03 am

As hybrid cars gobble rare metals, shortage looms

LOS ANGELES (Reuters) - The Prius hybrid automobile is popular for its fuel efficiency, but its electric motor and battery guzzle rare earth metals, a little-known class of elements found in a wide range of gadgets and consumer goods.
Source: Reuters: Business News | 31 Aug 2009 | 2:03 am

Australian market closes down

The Australian share market closed in negative territory as investors sat on the sidelines after the busy reporting season. The benchmark S&P/ASX200 index closed down 10.5 points, or 0.23 per cent, at 4479.1 points, while the broader...
Source: New Zealand Herald - Business | 31 Aug 2009 | 1:35 am

U.S. Capital Group takes 4.4 percent UBS stake

ZURICH (Reuters) - U.S. investor Capital Group Companies has taken a 4.38 percent stake in Switzerland's UBS , an announcement on the Swiss stock exchange website from Saturday showed.
Source: Reuters: Business News | 31 Aug 2009 | 1:33 am

Asia Markets And Europe Open 8/31/2009

Markets in Asia fell. The Nikkei was off .4% to 10,493. Toyota (TM) was down over 1%. The Hang Seng was off 2.1% to 19,668. The Shanghai Composite was down 6.7% to 2,668. At the open in Europe, the Dax was down 1% to 5,464. The CAC 40 fell .7% to 3,666. Data from Reuters and MarketWatch. Douglas A. McIntyre Posted in [...]

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Source: 24/7 Wall St. | 31 Aug 2009 | 1:24 am

China stocks tumble; yen jumps after Japan vote (Reuters)

Reuters - Chinese stocks sank 6 percent to a three-month low on Monday, weighing on Asian shares, sapping investor willingness to take risks and giving the yen an added boost after Japanese voters swept the opposition into power.

Source: Yahoo! News: Stock Markets News | 31 Aug 2009 | 1:11 am

Yen overshadows election optimism

Japanese shares were lower in late trading after rises to the yen overshadowed optimism at the country's election result.
Source: BBC News | Business | World Edition | 31 Aug 2009 | 1:08 am

Story not all bleak for newspaper industry's outlook

Advertising sales firmed a bit in June, enabling some newspaper companies to post strong second-quarter profits. But for most, growth was driven by cost cutting.

You think the economy is sending mixed signals? Just look at the newspaper industry.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

Wall Street will be watching for growth indicators

Economic reports due out, including the first readings on employment and manufacturing during August, have the power to sustain or stifle stocks' advance.

Though investors go into this week believing the economy is emerging from recession, they still need to see more solid evidence of a rebound.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

Weekend box-office results

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

SAG members look to end dissension in election for president

The potential merger with the smaller AFTRA is a key issue in the balloting.

When members of the Screen Actors Guild cast their ballots for president in the coming weeks, they will be voting for a leader who can best repair the damage inflicted on Hollywood's largest talent union over the last two years.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

Kobe Bryant's virtually no different in NBA 2K10

The Los Angeles Lakers guard talks about his digital doppelganger, who in the video game will sometimes jut out his jaw in the heat of competition.

For most of his career in the NBA, there have been two Kobe Bryants, each evolving in mirror universes.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

The week ahead at a glance

At a glance TUESDAY Institute for Supply Management releases its manufacturing index for August.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

Could boycotts help restore some civil discourse on political issues?

There aren't many individuals in history whose names are taken in vain more than Capt. C.C. Boycott , the notorious Irish landlord who cut the wages of his tenant farmers and got himself ostracized -- and the English language enriched -- in return.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

Viacom hopes the Beatles: Rock Band game sets stage for rebound

The company has bet big on the music video game title due out Sept. 9 to help its own ailing division and the industry, which is facing a sales slump.

Viacom Inc. and the video game industry are hoping they'll get more than a little help from the Beatles. ¶ When the Beatles: Rock Band hits stores Sept. 9, Viacom is betting that the new title from its MTV unit will end a slump in the market and vindicate the company's expensive and unprofitable entry into the music video game business over the last two years. ¶ The new game applies the simulated rock star experience that many are familiar with from other Rock Band games and Activision Blizzard Inc.'s Guitar Hero and brings in the Beatles, who have never before appeared in a video game. ¶ It comes at a crucial time for the industry as sales of music game videos have plunged 46% in the U.S. this year, according to NPD Group. ¶ Viacom will pay Beatles rights holders an unprecedented amount to include the band members' songs and likenesses in the video game. It has guaranteed them a minimum of around $10 million and will shell out royalties of $40 million or more if the game sells as expected, according to three people familiar with the terms of the deal.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

SAG members look to end dissension in election for president

The potential merger with the smaller AFTRA is a key issue in the balloting. When members of the Screen Actors...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Could boycotts help restore some civil discourse on political issues?

There aren't many individuals in history whose names are taken in vain more than Capt. C.C. Boycott , the notorious Irish landlord who cut the wages of his tenant farmers and got himself ostracized --...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Kobe Bryant's virtually no different in NBA 2K10

The Los Angeles Lakers guard talks about his digital doppelganger, who in the video game will sometimes jut out his jaw in the heat of competition. ...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Viacom hopes the Beatles: Rock Band game sets stage for rebound

The company has bet big on the music video game title due out Sept. 9 to help its own ailing division and the industry, which is facing a sales slump. ...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Wall Street will be watching for growth indicators

Economic reports due out, including the first readings on employment and manufacturing during August, have the power to sustain or stifle stocks' advance. ...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Weekend box-office results

Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Story not all bleak for newspaper industry's outlook

Advertising sales firmed a bit in June, enabling some newspaper companies to post strong second-quarter profits. But for most, growth was driven by cost cutting. ...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

'The Final Destination' wins duel with 'Halloween II'

The horror movie is No. 1, taking in an estimated $28.3 million in the U.S. and Canada, largely from moviegoers who paid extra to see the film in 3-D. 'Inglourious Basterds' is No. 2.

Two horror movies weren't too much to handle this weekend as "The Final Destination" proved a winner at the box office and "Halloween II" came in just a bit below expectations.

Source: L.A. Times - Business | 31 Aug 2009 | 1:00 am

'The Final Destination' wins duel with 'Halloween II'

The horror movie is No. 1, taking in an estimated $28.3 million in the U.S. and Canada, largely from moviegoers who paid extra to see the film in 3-D. 'Inglourious Basterds' is No. 2. ...
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

The week ahead at a glance

At a glance TUESDAY Institute for Supply Management releases its manufacturing index for August.
Source: RSS feed - channel BNPaperBusiness | 31 Aug 2009 | 1:00 am

Currencies: Yen gains after Japan ruling party defeated

Yen gains in Asian trading Monday, a day after Japanese voters handed the ruling Liberal Democratic Party a resounding defeat in a general election

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 12:52 am

China Unicom's iPhone deal gets mixed reviews

China Unicom's iPhone deal gets mixed reviews, with the market giving a thumbs-up, but with some analysts unsure what long-term benefits the popular über-phone might bring.

Source: MarketWatch.com - Top Stories | 31 Aug 2009 | 12:50 am

Sharemarket lower as Asian markets drop

The New Zealand sharemarket gave up early gains to close down today as Asian markets headed lower. The 5.4 per cent drop in China's market at midday was hard to ignore even though local news was positive with the National Bank...
Source: New Zealand Herald - Business | 31 Aug 2009 | 12:18 am

New era for Japan as DPJ triumphs

Japan’s centre-left opposition Democratic party won a crushing victory over the long-ruling conservative Liberal Democrats
Source: Financial Times - US homepage | 30 Aug 2009 | 11:25 pm

Japan's leader prompts short-lived euphoria

Tokyo traders granted Yukio Hatoyama and his newly victorious Democratic Party of Japan a “one-hour honeymoon” this morning – pumping stocks to an 11-month high before allowing the euphoria of the landslide triumph on Sunday to subside.


Source: Latest Business News from Times Online | 30 Aug 2009 | 10:52 pm

No need for second U.S. fiscal stimulus package: survey

WASHINGTON (Reuters) - The U.S. economy does not need a second fiscal stimulus package, instead the government should cut spending over the next two years, according to a survey of business economists released on Monday.
Source: Reuters: Business News | 30 Aug 2009 | 10:40 pm

Big spring surge in business confidence

There's been a big lift in business confidence over the past month, with the construction industry at the forefront of renewed optimism. The latest National Bank Business Outlook survey for August released this afternoon, shows...
Source: New Zealand Herald - Business | 30 Aug 2009 | 10:30 pm

Oil droops towards $72 as Asian shares fall (Reuters)

Reuters - Oil fell toward $72 a barrel on Monday, as a drop in China's key stock index stoked worries about the country's economy, but hopes that energy demand would soon rebound are on track to push prices up about 4 percent in August.

Source: Yahoo! News: Stock Markets News | 30 Aug 2009 | 10:28 pm

Tribune may exit bankruptcy this fall: report (Reuters)

Reuters - Bankrupt U.S. media group Tribune Co could emerge from bankruptcy in the autumn without a major overhaul of its present top management, the New York Times said, citing people briefed on the restructuring plans.
Source: Yahoo! News: Business | 30 Aug 2009 | 10:25 pm

Tribune may exit bankruptcy this fall: report

(Reuters) - Bankrupt U.S. media group Tribune Co could emerge from bankruptcy in the autumn without a major overhaul of its present top management, the New York Times said, citing people briefed on the restructuring plans.
Source: Reuters: Business News | 30 Aug 2009 | 10:25 pm

Federal Reserve made $14 billion on turmoil loans: report (Reuters)

Reuters - The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.

Source: Yahoo! News: Business | 30 Aug 2009 | 10:24 pm

Federal Reserve made $14 billion on turmoil loans: report

LONDON (Reuters) - The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.
Source: Reuters: Business News | 30 Aug 2009 | 10:24 pm

No need for second U.S. fiscal stimulus package: survey (Reuters)

Reuters - The U.S. economy does not need a second fiscal stimulus package, instead the government should cut spending over the next two years, according to a survey of business economists released on Monday.
Source: Yahoo! News: Business | 30 Aug 2009 | 10:22 pm

Telecom lines move 'sign of desperation' says union

Line engineers say Telecom's move to bring forward a plan to change arrangements for field work is an act of desperation. Telecommunications engineers around the country have been taking industrial action over Telecom's move to...
Source: New Zealand Herald - Business | 30 Aug 2009 | 10:00 pm

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

Receivership possible for Strategic Finance after massive loss

Failed property financier Strategic Finance has reported an audited annual loss of NZ$175 million for the year to June 30, just six weeks after predicting a full year loss of NZ$98 million. Strategic Finance said it had decided...
Source: New Zealand Herald - Business | 30 Aug 2009 | 9:30 pm

Lufthansa, JetBlue to seek code sharing pact: report

PHILADELPHIA (Reuters) - German airline Lufthansa plans to seek regulatory approval to form a "code-share" agreement with JetBlue Airways , The Financial Times reported on Sunday.
Source: Reuters: Business News | 30 Aug 2009 | 8:44 pm

Japan Democrats' win may buoy Nikkei, dent JGBs (Reuters)

Reuters - A historic election win for Japan's opposition Democratic Party on Sunday is likely to buoy Tokyo shares on hopes for less policy deadlock, putting pressure on Japanese government bonds and the yen.
Source: Yahoo! News: Stock Markets News | 30 Aug 2009 | 8:40 pm

Norgate's RPI seeks funding as Wrightson cancels dividend

Rural Portfolio Investments, the private investment vehicle of Craig Norgate and Baird McConnon, will be forced to increase borrowing or sell assets to fund its cash requirements after 27 per cent-owned PGG Wrightson omitted its final...
Source: New Zealand Herald - Business | 30 Aug 2009 | 7:30 pm

Farmers refuse to pay 'industry good' wool levy

New Zealand's sheep farmers have dumped one of the last reminders of the former Wool Board and baulked at continuing to pay a levy for "industry good" work supporting the national wool clip. Their decision will trigger a restructure...
Source: New Zealand Herald - Business | 30 Aug 2009 | 7:00 pm

Fonterra 'poised for greatness'

Dairy exporter Fonterra has the potential to become the world's "greatest" food company if it makes the right moves with regard to its capital structure, says Fonterra Ingredients managing director Andrei Mikhalevsky. "I believe...
Source: New Zealand Herald - Business | 30 Aug 2009 | 6:30 pm

Fujitsu strike threat amid pension cuts

Unions are gearing up for a month of strike action as corporate Britain cuts workers’ pension entitlements.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Monday manifesto: Food security matters but worry about food safety, says Cargill

Our government is in a flap about food; the world prices of staples such as wheat, rice, corn and milk powder doubled and tripled between 2007 and 2008, provoking food riots, hoarding and panic in developing countries, before tumbling back in the recession. Hilary Benn, the Environment Secretary, wants Britain to have a “food strategy”.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Halifax outlets in line for closure

Lloyds Banking Group is considering closing more than 300 “agency” branches run by its Halifax subsidiary in the offices of estate agents, solicitors and financial consultants.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Japan prepares to challenge for global supremacy in mobile phones

For years, it almost didn’t matter in Japan that when the rest of the world thought of the mobile phone, it thought of Apple or Samsung, the iPhone or the BlackBerry. Domestic sales of mobile phones were so strong that the country’s mobile manufacturers could concentrate on their own market and be rewarded with impressive profits.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Offshore savers could save cash with Liechtenstein tax loophole

Savers who have sidestepped the taxman by stashing their money offshore may be able to use a loophole to cut the amount of tax they pay if they come clean, according to tax lawyers.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Weary Britons flee gloom to a land Down Under

Britons who have had enough of rising unemployment and dismal weather are resorting to a time-honoured tradition to escape the gloom — they are moving to Australia.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Fujitsu strike threat amid pension cuts

Unions are gearing up for a month of strike action as corporate Britain cuts workers’ pension entitlements.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Flight attendants accept pay deal

Flight attendants employed by Air New Zealand subsidiary Zeal 320 have agreed to a pay settlement with the company, their union said today. The parties had been in negotiations for almost a year and the Engineering, Printing and...
Source: New Zealand Herald - Business | 30 Aug 2009 | 6:00 pm

RTL chief says UK TV should carry sponsors’ logos

Television regulators should tear up the rulebook and allow programme sponsors to display their logos throughout programming, according to the broadcaster behind The X Factor.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Deals backfire as investors seek $5.5bn from Cerberus$

Investors in Cerberus are seeking the return of more than $5.5 billion ($£3.3 billion) from the fund, which has made a series of poor investments, including the acquisition of GMAC, General Motors’ finance division, and of Chrysler, the bankrupt carmaker.


Source: Latest Business News from Times Online | 30 Aug 2009 | 6:00 pm

Unclear when ETS will be released

The Government is "in negotiation" with other parties over the Emissions Trading Scheme, a report on which should have been released last week. Parties taking part in the select committee inquiry into the ETS were expected to deliver...
Source: New Zealand Herald - Business | 30 Aug 2009 | 5:50 pm

Repossession advice site launched

The government launches a a series of online videos and articles for people who face having their home repossessed.
Source: BBC News | Business | World Edition | 30 Aug 2009 | 5:12 pm

E-books could spell the end for hardbacks, warns Hachette chief

Hardback books could be killed off if Amazon’s e-books and Google’s digital library force publishers to slash prices, Arnaud Nourry, chief executive of French publishing group Hachette, has warned
Source: Financial Times - US homepage | 30 Aug 2009 | 4:31 pm

Hedgies Still Paying Record Rents In Greenwich

If you think hedge fund investors are pissed about subpar returns, gated redemptions and high fees, wait until they hear what some of their managers are paying in rent. Despite the sputtering economic recovery, some Greenwich-based hedge funds continue to pay over $100 per square foot for space at the best location in town, One Hundred West Putnam. One firm in particular is paying over $600,000 a month, while another spent over $10 million on renovations and never moved in.

Who benefits most one might ask? Greenwich-based Antares Investment Partners, run by partners Joe Beninati, 45, and Jim Cabrera, 46. The firm and its founders have been the subject of a three part series on its torrid rise and fall in the Greenwich Time last week.

Sponsored Topics: Hedge fund - Greenwich - Business - Investing - Funds
Source: Dealbreaker | 30 Aug 2009 | 4:00 pm

Israel's ex-PM Olmert charged with fraud

Former Israeli Prime Minister Ehud Olmert was indicted on corruption charges
Source: Financial Times - US homepage | 30 Aug 2009 | 3:59 pm

Fed makes $14bn profit on crisis loans

The Federal Reserve has made a $14bn profit on loan programmes that provided hundreds of billions of dollars in liquidity to the financial system since the start of the crisis two years ago, according to Fed officials
Source: Financial Times - US homepage | 30 Aug 2009 | 3:48 pm

Lufthansa seeks JetBlue code-share

The German airline is aiming to create closer links with JetBlue Airways and its New York hub as it seeks regulatory approval for a code-share
Source: Financial Times - US homepage | 30 Aug 2009 | 3:45 pm

AIG looks into plan for aircraft leasing unit

American International Group is considering the creation of an aircraft leasing unit that could help the troubled insurer shed assets from an existing aviation business laden with $30bn in debt
Source: Financial Times - US homepage | 30 Aug 2009 | 3:44 pm

Swiss banking execs eye UBS tax dispute fallout: report

NEW YORK (Reuters) - Executives at Swiss banks Julius Baer and Credit Suisse expect to avoid a U.S. tax investigation into their private banking businesses on the same scale as their peer UBS , they told The Financial Times on Sunday.
Source: Reuters: Business News | 30 Aug 2009 | 3:35 pm

Insurer RSA's rights issue may prompt deluge of cash calls

Commentators expect deluge of rights issues in September as investor confidence grows following the bullrun of the summer months.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 3:34 pm

Companies Act to be used to make banks disclose nonboard pay

The Companies Act is set to be used to force banks and financial services companies to disclose pay information relating to their high earners.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 3:34 pm

HM Revenue & Customs welcomes richest people to High Net Worth Unit

Letters sent to richest people to welcome them to High Net Worth Unit started recently to increase the amount of tax paid by the very wealthy.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 3:33 pm

Lloyds mulls closure of 300 Halifax counters

Possible closures part of the statebacked lender's latest efforts to cut costs and integrate the troublesome HBOS business.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 3:33 pm

MG Rover's £22m dowry 'should be given to former car workers'

Lord Mandelson is being urged to take control of a £22m dowry left on the books of a defunct MG Rover business and distribute it among former staff.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 3:33 pm

Merkel suffers blow in state elections

The German chancellor experienced an electoral setback four weeks before a Germany’s general election as her Christian Democratic Union lost its absolute majority in two states
Source: Financial Times - US homepage | 30 Aug 2009 | 1:29 pm

Investors hunting for signs of economic growth (AP)

AP - While investors go into the new week believing the economy is indeed emerging from recession, they still need to see more solid evidence of a rebound.
Source: Yahoo! News: Stock Markets News | 30 Aug 2009 | 1:11 pm

Lehman faces up to $100bn in claims

Lehman’s European businesses are planning to lodge claims, described as ‘exceptionally complex’, for up to $100bn against their former holding company
Source: Financial Times - US homepage | 30 Aug 2009 | 12:58 pm

London's G20 premeet is a test of progress

At the end of this week some of the world's most powerful policymakers will gather in London to debate the next chapter in the global financial crisis.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 12:34 pm

Tax havens in spotlight

Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 12:34 pm

Debenhams enlists designer Matthew Williamson for new collection

Department store retailer Debenhams has signed up British designer Matthew Williamson to create a new collection as part of its Designers at Debenhams range.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 12:34 pm

Dubai's vow of silence over stalled developments seems to be working

Despite the emirate staying tightlipped on stalled developments investors have caused the prices of leading bonds to soar in the past six months.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 12:34 pm

Marks & Spencer launches new women's clothing range

Marks & Spencer will tomorrow launch a new casual clothing range aimed at 30plus women in 100 stores and on its website.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 30 Aug 2009 | 12:33 pm

Swiss banks expect to avoid witch-hunt

Swiss private bankers are confident of avoiding a witch-hunt by the US as they are convinced the Swiss government has a roadmap in place for any further legal challenges over their banking activities
Source: Financial Times - US homepage | 30 Aug 2009 | 11:52 am

GM to make light trucks in China

GM is increasing its presence in China as it has agreed a partnership, one that the two companies negotiated for years, to make light trucks with FAW Group
Source: Financial Times - US homepage | 30 Aug 2009 | 11:25 am

U.S. second-quarter earnings tough to beat (Reuters)

Reuters - For corporate America and Wall Street, the second quarter may be a tough act to follow.
Source: Yahoo! News: Business | 30 Aug 2009 | 10:59 am

U.S. second-quarter earnings tough to beat

NEW YORK (Reuters) - For corporate America and Wall Street, the second quarter may be a tough act to follow.
Source: Reuters: Business News | 30 Aug 2009 | 10:59 am

U.S. second-quarter earnings tough to beat (Reuters)

Reuters - For corporate America and Wall Street, the second quarter may be a tough act to follow.
Source: Yahoo! News: Stock Markets News | 30 Aug 2009 | 10:59 am

Schaeffer’s Investment Research: Exaggeration At Its Finest

Schaeffer’s Investment Research of Cincinnati, run by Bernie Schaeffer, has been sending out e-mail promotions which are as clever as they are opaque. The solicitation  is to join the Elite Trader service. Some of the statements in the e-mail are odd and incredible. The e-mail lays out the case for the service. People who have already signed [...]

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Source: 24/7 Wall St. | 30 Aug 2009 | 10:47 am

For stocks, summer ends with jobs data (Reuters)

Reuters - The last week of summer could prove to be anything but relaxing for stock investors worried about the economy, with the crucial August jobs report on the agenda.

Source: Yahoo! News: Stock Markets News | 30 Aug 2009 | 9:32 am

Mac vs. PC: Inside the ad wars

Source: Business and financial news - CNNMoney.com | 30 Aug 2009 | 8:21 am

Act fast! $8,000 tax credit ends soon

Use any metaphor you want: the ticking clock, sands running through the hourglass or pages falling away from the calendar. The fact is, time is running out to claim the $8,000 first-time homebuyers tax credit.
Source: Business and financial news - CNNMoney.com | 30 Aug 2009 | 8:18 am

Turner defends UK bank tax call

Lord Turner, the boss of the UK's financial watchdog, defends his comments about the introduction of a new tax on banks.
Source: BBC News | Business | World Edition | 30 Aug 2009 | 7:31 am

General Motors expands in China

GM signs up to a joint venture with the Chinese state-owned carmaker FAW to make light trucks and vans.
Source: BBC News | Business | World Edition | 30 Aug 2009 | 5:21 am