|
|
|
|
G20 draft agrees stimulus to stay, curbs on bank pay (Reuters)
Source: Yahoo! News: Business | 5 Sep 2009 | 4:20 am Obama to workers: We'll help you savePresident Obama on Saturday announced changes that the IRS plans to make to encourage workers to save more of their paychecks.Source: Business and financial news - CNNMoney.com | 5 Sep 2009 | 4:05 am Obama unveils new retirement-savings toolsAmericans will be encouraged to save more for retirement under a series of moves the Obama administration unveiled Saturday.
Source: MarketWatch.com - Top Stories | 5 Sep 2009 | 4:02 am Auto Review: 2009 Nissan 370Z Touring: A full-bore sports carThe 240-Z turned the world of fun cars upside down when it came to market. Switch forward a few years, and a beautiful “Monterey Blue” 370Z arrived in the road test driveway. In many ways, it is still recognizable as a “Z” and nothing else, but in other ways, it could not be more different from the 350 that preceded it.
Source: MarketWatch.com - Top Stories | 5 Sep 2009 | 4:01 am Five more banks fail -- 89 so far in 2009Five small regional banks were closed by regulators on Friday evening, pushing 2009's tally so far to 88 institutions. Of the five failures, two were in Illinois, and there was one each in Arizona, Iowa and Missouri.Source: Business and financial news - CNNMoney.com | 5 Sep 2009 | 3:58 am G20 united on stimulus, divided on bank reformLONDON (Reuters) - The world cannot be complacent about economic recovery and will need to keep emergency stimulus packages in place well into next year, British Prime Minister Gordon Brown said on Saturday.Source: Reuters: Business News | 5 Sep 2009 | 3:58 am Report shows investigators botched Madoff probes (AP)
Source: Yahoo! News: Stock Markets News | 5 Sep 2009 | 3:44 am New ski boot to be comfy but pricey at $1,295Skiing, fun. Walking in ski boots back to the lodge, not so much. In mid-September, a company in Boulder will start selling a ski boot it says is so comfortable that skiers accustomed toSource: RSS feed - channel BNewsBusiness | 5 Sep 2009 | 3:18 am Gordon Brown warns G20 countries against reining in spendingLeading economies will make a "serious mistake" if they fail to approve a £3 trillion investment package PM tells G20 leaders at London summit.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Sep 2009 | 3:00 am Bonus row opens up G20 divisionsDivisions emerge among G20 finance ministers, meeting in London, about how to curb excessive bank bonuses.Source: BBC News | Business | World Edition | 5 Sep 2009 | 2:10 am Report shows investigators botched Madoff probesDisgraced financier Bernard Madoff tried by turns to bully and impress the federal examiners who looked into his business, but the investigators managed by themselves to botch the probes...Source: RSS feed - channel BNewsBusiness | 5 Sep 2009 | 2:03 am British leader urges G-20 against complacencyBritish Prime Gordon Brown has called on Group of 20 leaders to commit to continued efforts to boost global growth, saying that the world economy is at a "critical juncture." Addressing...Source: RSS feed - channel BNewsBusiness | 5 Sep 2009 | 1:51 am List of US banks closed by feds jumps to 89The crippled economy and increasing loan defaults have forced financial regulators to close even more banks, including the only branch of the First Bank of Kansas City, which is reopening...Source: RSS feed - channel BNewsBusiness | 5 Sep 2009 | 1:43 am Car-repair legislation backed by auto insurers wins key voteThe California Senate approves a bill that would make it easier for insurance companies to steer car owners to company-approved auto body shops. The bill is expected to go to Schwarzenegger next week.An insurance industry-backed bill that would make it easier for auto insurers to persuade motorists to fix their dents only at company-selected garages won a key vote Friday in the state Senate and should be on the governor's desk next week.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Oil expertise from Venezuela gives Colombia's industry a boostBanished oil executives and engineers are providing added energy to production efforts. The country is also benefiting from an influx of investment attracted by improved security. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Legoland wants to add water parkThe San Diego County theme park has submitted its plan to the city of Carlsbad to build a 5.5-acre water attraction, officials say. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Stocks jump as jobs report provides a little hopeStocks jumped in light trading Friday after the government reported that U.S. employers' payrolls shrank last month by the smallest amount in a year.Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Judge turns down Broadcom co-founder Henry Nicholas' attempt to reseal divorce recordsThe Times initiated the court action to unseal the documents, arguing successfully that the public had a constitutional right to access. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Car-repair legislation backed by auto insurers wins key voteThe California Senate approves a bill that would make it easier for insurance companies to steer car owners to company-approved auto body shops. The bill is expected to go to Schwarzenegger next week...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am EU subsidized Airbus illegally, World Trade Organization findsThe United States scored an initial victory in a long-running trade conflict Friday when the World Trade Organization found that the European Union had provided illegal aircraft subsidies to Airbus.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Legoland wants to add water parkThe San Diego County theme park has submitted its plan to the city of Carlsbad to build a 5.5-acre water attraction, officials say.San Diego County theme park Legoland has submitted its plan to the city of Carlsbad to build a 5.5-acre water attraction in the park's northern section, officials said Friday.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Oil expertise from Venezuela gives Colombia's industry a boostBanished oil executives and engineers are providing added energy to production efforts. The country is also benefiting from an influx of investment attracted by improved security.Until recently in a free fall because of terrorist attacks that scared off wildcat drillers, Colombia's oil production is staging a surprisingly robust rebound, boosted in no small part by the arrival of oil industry executives and engineers banished by Venezuelan President Hugo Chavez.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am China's favorite Internet craze: 'Jia Junpeng, your mom is calling you to come home and eat.'The post appeared on a computer gaming forum in July and became a viral joke, popping up on T-shirts and ads and celebrated in song and doctored photos. Its author and motive are unknown.In the United States, video of a wedding party boogieing down the aisle was about to become a summer sensation on YouTube, viewed more than 20 million times.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Judge turns down Broadcom co-founder Henry Nicholas' attempt to reseal divorce recordsThe Times initiated the court action to unseal the documents, arguing successfully that the public had a constitutional right to access.An attempt Friday by Broadcom Corp. co-founder Henry T. Nicholas III to reseal records in the billionaire's divorce case and to bar the Los Angeles Times from publishing information in the documents was turned down by an Orange County judge.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am We all want a deal -- that's what's scaryDespite signs of recovery, some see deflation loomingWhen a 20-something friend of mine recently told me she was looking for an apartment to rent in Los Angeles, I had only one bit of advice for her: Don't accept any advertised rent -- haggle with the landlord to get the price down, and demand concessions on anything and everything.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Satellite TV sales tax proposal runs out of timeWith the state legislative session heading into its last week, an effort backed by cable firms to impose a 5% levy on their competitors may be put off until next year or beyond. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Satellite TV sales tax proposal runs out of timeWith the state legislative session heading into its last week, an effort backed by cable firms to impose a 5% levy on their competitors may be put off until next year or beyond.A last-minute attempt by cable television companies to impose a 5% sales tax on their satellite TV competitors ran out of time Friday as the 2009 legislative session headed into its last week.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am China's favorite Internet craze: 'Jia Junpeng, your mom is calling you to come home and eat.'The post appeared on a computer gaming forum in July and became a viral joke, popping up on T-shirts and ads and celebrated in song and doctored photos. Its author and motive are unknown. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am We all want a deal -- that's what's scaryDespite signs of recovery, some see deflation looming When a 20-something friend of mine recently told me she...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Airlines racing to install in-flight Wi-Fi serviceThey're betting it will attract business travelers who will gladly pay a fee to check their e-mail while airborne.Seven dollars for a pillow and blanket on JetBlue. Twenty-five dollars to book a flight by phone or in person with Delta. Twenty-five dollars to send an unaccompanied minor on Southwest.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Joblessness remains a threat to recoveryThe nation's unemployment rate rose unexpectedly to 9.7% in August from 9.4% in July. Although the pace of layoffs has slowed, fear of job loss is crimping consumer spending, experts say.The rise in the nation's unemployment rate last month to a 26-year high underscored the fact that the weak labor market remains a threat to the economic recovery.
Source: L.A. Times - Business | 5 Sep 2009 | 1:00 am Joblessness remains a threat to recoveryThe nation's unemployment rate rose unexpectedly to 9.7% in August from 9.4% in July. Although the pace of layoffs has slowed, fear of job loss is crimping consumer spending, experts say. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Airlines racing to install in-flight Wi-Fi serviceThey're betting it will attract business travelers who will gladly pay a fee to check their e-mail while airborne. ...Source: RSS feed - channel BNPaperBusiness | 5 Sep 2009 | 1:00 am Coke says to double Vietnam investmentThe Coca-Cola Company said it would double its investment in communist Vietnam to 400 million dollars. The firm said it would invest, in conjunction with its local bottler, an additionalSource: RSS feed - channel BNewsBusiness | 4 Sep 2009 | 10:50 pm Questioning Madoff on the phone (AP)AP - The new report by the inspector general of the Securities and Exchange Commission on the agency's failure to detect Bernard Madoff's multibillion-dollar fraud over 16 years is packed with disclosures and tantalizing details.Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 10:12 pm Stocks to Watch: Stocks in focus for TuesdayStocks likely to show significant movement when U.S. markets open Tuesday after the Labor Day holiday on Monday:
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 10:01 pm Market Snapshot: Stocks face the back-to-school testAfter a better-than-expected jobs report helped the market overcome worries of an impending correction, U.S. stocks might benefit next week as investors return en masse from summer break after a long weekend.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 10:01 pm September 5, 2008 (Friday): Unemployment Up Again; Rescue for Fannie and Freddie?Unemployment Tops 6% LevelAugust ushered in an unemployment rate of 6.1%, the highest level in five years, says a Bureau of Labor Statistics report released today. In August, 84,000 jobs were eliminated putting the year’s total jobs lost at 605,000. The steadily climbing unemployment rate — it was 5% in April — is a sign of a recession, some economists say. Amid anxiety about the economy, both presidential candidates are talking about economic stimulus packages. (For more on this news, click here.) U.S. On Verge of Fannie and Freddie RescueU.S. officials tell Fannie Mae and Freddie Mac executives the government is close to placing the two companies under government control, the New York Times reports. It appears likely that Fannie and Freddie board members would be given the boot and that shareholders would be wiped out — but with government backing, the companies would be able to stay in operation. (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 | 4 Sep 2009 | 10:00 pm Mercury Marine union approves wage and concessionsThe union at an eastern Wisconsin boat engine maker approved a sweeping package of wage and benefit concessions Friday that the company said it needed to keep 850 manufacturing jobs from...Source: RSS feed - channel BNewsBusiness | 4 Sep 2009 | 9:30 pm California's last IOU: See who got itCalifornia sent out its last IOU on Thursday. The "lucky" recipient: Yellow Cab Co. of Sacramento, the oldest and largest taxi company in California's capital city.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 9:22 pm SEC chiefs in dark as Madoff evaded junior staff (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 9:16 pm SEC chiefs in dark as Madoff evaded junior staffWASHINGTON (Reuters) - Top U.S. Securities and Exchange Commission officials were in the dark that staff were probing Bernard Madoff until the former financier was arrested in December 2008 for running a $65 billion Ponzi scheme, a federal watchdog said in a report released on Friday.Source: Reuters: Business News | 4 Sep 2009 | 9:16 pm SEC chiefs in dark as Madoff evaded junior staff (Reuters)
Source: Yahoo! News: Business | 4 Sep 2009 | 9:16 pm Students warned on flat ad scamsStudents looking for housing are being warned by the police to beware of bogus landlords advertising on the internet.Source: BBC News | Business | World Edition | 4 Sep 2009 | 9:01 pm Attorneys for First American Title Insurance Co. Were Disqualified From Four Class Action Lawsuits in One DayAlleged Ethical Conflict Bars Chicago Law Firm from Continuing to Defend First American Title. LOS ANGELES, Sept. 4 /PRNewswire/ -- Today, counsel for both sides in four classSource: RSS feed - channel BNewsBusiness | 4 Sep 2009 | 8:21 pm 5 bank failures bring '09 tally to 89Five banks in Missouri, Iowa, Arizona and Illinois are closed by regulators, bringing the number of U.S. bank failures in 2009 to 89.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 8:17 pm Behind the scenes at the U.S. OpenWith more than 250 men and women vying for the U.S. Open championship, it's a wonder that each and every ace (and fault) is seamlessly shown on the scoreboard, your iPhone, and online.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 7:58 pm How we're saving big bucksThese CNNMoney.com readers have cut back on spending without sacrificing. Here's how they do it.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 7:56 pm Five banks closed by U.S. regulatorsWASHINGTON (Reuters) - Bank regulators closed four Midwestern banks and one in Arizona on Friday, bringing to 89 the number of U.S. banks to fail this year as deteriorating loans continue to take their toll on financial institutions.Source: Reuters: Business News | 4 Sep 2009 | 7:39 pm Five banks closed by U.S. regulatorsWASHINGTON (Reuters) - Bank regulators closed four Midwestern banks and one in Arizona on Friday, bringing to 89 the number of U.S. banks to fail this year as deteriorating loans continue...Source: RSS feed - channel BNewsBusiness | 4 Sep 2009 | 7:39 pm Five banks closed by U.S. regulators (Reuters)Reuters - Bank regulators closed four Midwestern banks and one in Arizona on Friday, bringing to 89 the number of U.S. banks to fail this year as deteriorating loans continue to take their toll on financial institutions.Source: Yahoo! News: Business | 4 Sep 2009 | 7:39 pm Regulators shut banks in Mo., Ill., Iowa, Ariz.Regulators on Friday shut down banks in Missouri, Illinois, Iowa and Arizona, pushing to 89 the number of banks that have failed this year under the weight of the soured economy and rising...Source: RSS feed - channel BNewsBusiness | 4 Sep 2009 | 7:20 pm G20 rift opens on banking reformPlans by the US and UK to get institutions to strengthen their capital positions have met resistance from France, which favours a cap on bonuses or tax on excess remunerationSource: Financial Times - US homepage | 4 Sep 2009 | 6:52 pm SEC chiefs in dark as Madoff evaded junior staffWASHINGTON (Reuters) - Top U.S. Securities and Exchange Commission officials were in the dark that staff were probing Bernard Madoff until the former financier was arrested in December 2008Source: RSS feed - channel BNewsBusiness | 4 Sep 2009 | 6:16 pm Latin American Markets: Brazil stocks gain; Citi still bullish on BrazilLatin American equity markets finish higher, finding support from a surge on Wall Street after the number of jobs the U.S. economy lost last month wasn’t as sharp as had been expected.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 6:03 pm Partial US victory on Airbus fundsThe World Trade Organisation has handed a partial victory to the US in a preliminary ruling on its claim that billions of dollars in European government loans to Airbus constitute illegal subsidiesSource: Financial Times - US homepage | 4 Sep 2009 | 6:02 pm Google brought to book over digital libraryA US district judge named Denny Chin is on the verge of becoming one of the most important men in the history of publishing. On October 7 in a New York courtroom he will preside over a “fairness hearing” for a deal between Google and US publishers and authors to put millions of books online. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm US wins first round against EU over Airbus subsidiesThe World Trade Organisation (WTO) has ruled that subsidies given to Airbus, the aircraft manufacturer, by European governments, including the UK, were illegal. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm No buyer, no chef and a €50 million legal wrangle for Hôtel de Crillon in ParisIt is the grandest hotel in France, with suites costing up to €8,220 (£7,150) a night and a register signed by the likes of King George V, Sir Winston Churchill and Charlie Chaplin. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm Tempus: 'Grandstanding' won't alter Diageo’s job cutsDiageo may have operations in 180 markets around the globe, but the one causing it the biggest headache at the moment is very close to home: Scotland. The drinks behemoth’s announcement in July that it planned to cut 900 jobs north of the border has whipped up a political storm. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm FSA orders Royal Bank of Scotland not to repay bonds next month because of taxpayers’ interest in bankRoyal Bank of Scotland (RBS), which is 70 per cent owned by the taxpayer, has been blocked by the City regulator from making repayments on bonds worth £920 million. The Financial Services Authority (FSA) has told RBS that it cannot make a payment on the bonds next month because of its reliance on billions of pounds of taxpayers’ money to keep the bank afloat. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm Of banks and vampire squidThe row over the usefulness of bankers rumbles on, with many of our leaders rushing to the defence of the indefensible. The original remark by Lord Turner, the chairman of the Financial Services Authority, that some banking was socially useless, is on the face of it incontestable. Never mind useless, some banking has proved to be spectacularly harmful. Surely, with £1.3 trillion of public money committed to the bank bailout and business failures and unemployment soaring, we can at least agree on that? Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm US claims victory over ‘illegal’ Airbus subsidiesThe World Trade Organisation (WTO) has ruled that some of the subsidies given to Airbus, the aircraft manufacturer, by European governments, including the UK, were illegal. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm China’s $50bn IMF deal puts 'redback' on the world stage$China is using a $50 billion ($£31 billion) bond deal with the International Monetary Fund (IMF) to expand the global reach and influence of its currency in what analysts say could be a potentially huge development in Beijing’s campaign to internationalise the “redback”. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm France tells G20 finance ministers it will cap bankers’ bonusesFrance will go it alone and axe bankers’ bonuses even if Britain and America refuse to cap them, the French Finance Minister said yesterday after the G20 finance ministers’ meeting in London. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm Mapping the economy: Shakespeare’s home town avoids dramaBustling market scenes — complete with crowds of buyers and sellers, soothsayers and moneylenders — are the stuff of Shakespeare plays. Source: Latest Business News from Times Online | 4 Sep 2009 | 6:00 pm WTO rules on huge plane disputeThe World Trade Organization (WTO) has given its decision on a huge trade dispute over planemaker Airbus.Source: BBC News | Business | World Edition | 4 Sep 2009 | 5:31 pm US jobless rate at 26-year highUS employers cut 216,000 jobs in August, pushing the jobless rate up to 9.7%, a 26-year peak, official figures show.Source: BBC News | Business | World Edition | 4 Sep 2009 | 5:17 pm Oregon bendsA US boom town, dependent on credit, goes bustSource: BBC News | Business | World Edition | 4 Sep 2009 | 5:12 pm White House weighs drafting healthcare billThe White House said it was considering drawing up its own healthcare reform bill, following widespread criticism of Barack Obama’s strategy of outsourcing the increasingly anarchic drafting process to CongressSource: Financial Times - US homepage | 4 Sep 2009 | 5:07 pm Loan insurance limits challengedA legal challenge to restrictions on the sale of the controversial payment protection insurance will be heard on Monday.Source: BBC News | Business | World Edition | 4 Sep 2009 | 4:59 pm CBI calls for more business womenThe new head of the CBI employers' group says industry in the UK is missing out by failing to exploit the talents of women.Source: BBC News | Business | World Edition | 4 Sep 2009 | 4:59 pm WTO says Airbus loans illegal: U.S. lawmakersWASHINGTON/BRUSSELS (Reuters) - The World Trade Organization ruled on Friday that European loans for Airbus were illegal subsidies under world trade rules, U.S. lawmakers said, but European sources said Washington did not win a sweeping victory.Source: Reuters: Business News | 4 Sep 2009 | 4:59 pm Top Ten: MarketWatch's top stories, Aug. 31-Sept. 4The week promised, and even delivered, plenty of compelling news, yet Wall Street was committed to maintaining its tight focus on the jobs report.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 4:53 pm Job losses slow; jobless rate at 26-year highWASHINGTON (Reuters) - U.S. job losses fell to their lowest level in a year last month, but the unemployment rate jumped to a 26-year high, painting a mixed picture of an economic recovery hindered by weakness in the labor market.Source: Reuters: Business News | 4 Sep 2009 | 4:49 pm SEC directors blind to Madoff probeRead full story for latest details.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 4:46 pm SEC closed Madoff ‘fishing expedition’The US Securities and Exchange Commission experienced “systematic breakdowns” during its investigations into Bernard Madoff’s giant “Ponzi” scheme, according to a scathing report detailing how the regulator failed to stop one of the world’s biggest fraudsSource: Financial Times - US homepage | 4 Sep 2009 | 4:45 pm Wall Street gains for 2nd day; tech shares outperformNEW YORK (Reuters) - U.S. stocks closed higher on Friday as investors focused on the bright side of a mixed payrolls report that showed smaller-than-expected job cuts in August, although the unemployment rate hit a 26-year high.Source: Reuters: Business News | 4 Sep 2009 | 4:41 pm WTO rules European subsidies given to Airbus were illegalThe World Trade Organisation is understood to have ruled that subsidies provided by European countries for Airbus's A380 superjumbo were illegal.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 4:21 pm Bausch & Lomb set to axe 500 jobsJobs are to be lost after a contact lenses manufacturer announced plans to move production from West Lothian.Source: BBC News | Business | World Edition | 4 Sep 2009 | 4:13 pm Guitar Hero, Beatles hope to revive music gamesThe video game business is pinning its hope for recovery on a handful of rock bands, including one that hasn't put out a new record in nearly 40 years.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 4:10 pm Weekend Investor: Insider selling spikes for health-care stocksHealth-care stocks, not the easiest investment to decipher at the best of times, are now giving shareholders something else to consider: a bump in insider sales last month.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 4:04 pm Competition guides cleantech startups to investorsFor clean technology startups to be successful, it takes more than a great green idea. It takes money, too.
Source: MarketWatch.com - Top Stories | 4 Sep 2009 | 4:01 pm Fonterra gives in over public listingFonterra has ruled out a public listing of its shares as part of its proposed capital restructure. Chairman Sir Henry van der Heyden told the Weekend Herald the board of New Zealand's biggest company had taken public listing...Source: New Zealand Herald - Business | 4 Sep 2009 | 4:00 pm Stocks jump as jobs report provides a little hope (AP)
Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 3:56 pm US stocks rally after unemployment data (AFP)
Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 3:54 pm Stocks in pre-holiday rallyStocks rallied Friday in a thinly traded session ahead of the Labor Day weekend, as investors focused on the positives in a mixed report on the labor market.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 3:52 pm Job losses slow; jobless rate at 26-year high (Reuters)
Source: Yahoo! News: Business | 4 Sep 2009 | 3:36 pm Lieberman, Marta on Jobs Report, Equities, Bonds: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 3:34 pm Mortgage giants struggle a year after takeover (AP)
Source: Yahoo! News: Business | 4 Sep 2009 | 3:34 pm Eichengreen Says Financial Regulators Need Adequate Pay: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 3:32 pm CFTC sheds new light on funds in commoditiesNEW YORK (Reuters) - Money managers were mostly net long on major U.S. commodities in the week to September 1, according to a government report issued on Friday to increase transparency on hedge fund bets in the markets.Source: Reuters: Business News | 4 Sep 2009 | 3:26 pm Podcast: Economics For Medieval Chinese Peasants
Back in medieval times, China's Yangtze River Valley looked like the most likely place for an industrial revolution. (Peter Parks / AFP/Getty images) On today's Planet Money: We've been talking lately with medieval historian Philip Daileader about how very little fun it was to live in 12th century France. Now, thanks to a nudge from listener Alan Munter, we're looking at the state of economic life in Asia. Historian Kenneth Pomeranz says pre-industrial China was no picnic, either. Life expectancy in the lower Yangtze River Valley was probably about 35 in the year zero, Pomeranz says, and it was probably about the same in 1800. At least from the year 1,000 on, people began spending more time working, but without much to show for it. Yet Pomeranz, author of the The Great Divergence: China, Europe, and the Making of the Modern World Economy, says it was one of the best places on the planet for poor people to live until the eve of the industrial revolution. Bonus: After the jump, instant folk art. Download the podcast; or subscribe. Intro music: Sa Dingding's "Alive." Find us: Twitter/ Facebook/ Flickr. We got this over the transom from Tecumseh, Michigan: 
"You are the reason we are here." And the reason we're gone. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 3:25 pm The Dow Jones industrials' moves since Lehman fall (AP)AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility before kicking into a big rally starting this spring. The numbers are the closing levels for the Dow:Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 3:18 pm Pickens Sees Natural Gas Replacing Diesel Truck Fuel: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 3:13 pm O’Neill Favors Broad-Based Commodity ETFs: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 3:00 pm How the major stock indexes fared on Friday (AP)AP - Stocks jumped in light trading Friday after the government reported that the pace of job losses slowed in August to the lowest level in a year. The Dow Jones industrial average halved its loss for the week after the Labor Department said employers cut fewer workers last month. However the report also showed that the ranks of the unemployed swelled to 9.7 percent, the highest level since June 1983.Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 2:38 pm When the prison shuts downAs Michigan's economy worsened last year, Michael Hester decided it was time to leave the private sector to work in the prison system, figuring a state job as a corrections officer would be more stable.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 2:33 pm Unemployment rate climbs againEmployers trimmed fewer jobs in August than they did the prior month, but the unemployment rate jumped to a 26-year high, the government reported Friday.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 2:31 pm Wall Street gains for 2nd day; tech shares outperform (Reuters)
Source: Yahoo! News: Business | 4 Sep 2009 | 2:31 pm Wall Street gains for 2nd day; tech shares outperform (Reuters)
Source: Yahoo! News: Business | 4 Sep 2009 | 2:31 pm Wall Street gains for 2nd day; tech shares outperform (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 2:31 pm McClatchy share price back in compliance (AP)AP - The McClatchy Company said Friday that the New York Stock Exchange has determined the company's share price has returned to levels necessary to remain on the exchange.Source: Yahoo! News: Stock Markets News | 4 Sep 2009 | 2:27 pm Labor Day without a job is no holidayWorkers relish the benefits that come with a full-time job, like paid holidays off. But for Commentator Peter Basch, Labor Day is just a sad reminder.Source: Marketplace Money | 4 Sep 2009 | 2:19 pm Sesame Street takes on financial crisisSesame Street has been known to take on adult subject matter in the past. Well, now the popular public television program is exploring the recession -- with kids.Source: Marketplace Money | 4 Sep 2009 | 2:18 pm Preparing your financial emergency kitWe've all been told to scrimp and save for retirement. But what happens when a hurricane or fire takes your home? Tess Vigeland talks to experts about what the devastating Southern California fires can teach you.Source: Marketplace Money | 4 Sep 2009 | 1:48 pm BioTech Hostile Takeover: Biogen Plays For FacetFacet Biotech Corporation (FACT) confirms that it is in receipt of Biogen Idec Inc.’s (BIIB) letter dated September 4, 2009 offering $14.50 per share for all of the outstanding shares of Facet. Facet shares rocketed 75% to $15.75 after being halted briefly. So far this year, Facet’s shares have traded as low as $6 and as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 1:48 pm How Britain can escape its economic quagmireThe worst is over if whoever is in charge in a year's time keeps their nerve says Jeremy Warner.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 1:48 pm US families turn to food stamps as wages dropThe number of US workers turning to food aid has surged as hours and wages erode, in a sign the recession is inflicting pain on the employed as well as the newly joblessSource: Financial Times - US homepage | 4 Sep 2009 | 1:47 pm Most U.S. airlines report traffic declines in AugustNEW YORK (Reuters) - Most major U.S. airlines reported another month of declining traffic in August as rising unemployment hurt leisure demand and corporate cost cuts continued to hamper business travel.Source: Reuters: Business News | 4 Sep 2009 | 1:37 pm Google’s head of China resignsThe head of Google’s operations in China quit, ending a controversial four-year tenure that saw Google the company use a censored version of its search engine what is now world’s in the most populous internet marketSource: Financial Times - US homepage | 4 Sep 2009 | 1:34 pm Restricting bankers' bonuses won't help address root causes of the crisisAlistair Darling was right to say yesterday that it's not the job of governments to decide which commercial activities are of value to society. But if that's true then neither is it the job of governments to decide how the people who are carrying out those activities are paid.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 1:18 pm Oil prices little changed as long weekend loomsNEW YORK (Reuters) - Oil prices were little changed on Friday as stronger equities boosted hopes for economic recovery, outweighing U.S. jobs data that showed the unemployment rate at a 26-year high.Source: Reuters: Business News | 4 Sep 2009 | 1:17 pm Britain's credibility with creditors is keyDespite gloomy noises from the patchy OECD forecasters growth is returning to Britain. I've been chirruping away about a bottoming out in our economic fortunes since early May.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 1:14 pm RBS barred from buying back bondsRoyal Bank of Scotland has spooked bondholders in Britain's statebacked lenders by bowing to regulators' demands and warning that it will not buy back £950m of subordinated debt when it falls due next month.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 1:04 pm CIT extends CEO Peek's contract for one yearNEW YORK (Reuters) - CIT Group Inc said it has extended the contract of Chief Executive Jeffrey Peek for one year, even though his decisions to expand into risky businesses helped to push the lender to the brink of bankruptcy.Source: Reuters: Business News | 4 Sep 2009 | 1:01 pm For Labor Day Weekend, A Look At 'The Way We Work.'
Click to launch The Way We Work. (Produced by Andrea Hsu / NPR) By Laura Conaway After today's report that 14.9 million Americans are out of work, consider another number: 130 million. That's the number of people in the U.S. who have jobs. NPR's Andrea Hsu provides a Labor Day weekend look at the work lives of three Americans -- auctioneer Derek Hopkins, nurse-midwife Lisa Uncles, and Target employee Domonique Taylor. They talk freely and movingly about what their jobs mean to them in Hsu's multimedia feature, The Way We Work: Signs Of Life In The Labor Market. If you're spending this Labor Day unemployed, you might find the news from NPR's Robert Benincasa encouraging. Benincasa writes that businesses hired 3.8 million workers in June. Half of that is just the normal churning of the labor market, as people retire or change jobs. The other half stems from businesses doing well despite the recession. And with staffing cut so thin in many shops, any increase in work leads quickly to hiring. Benincasa finds one headhunting group that got 27 new orders for employees in the past 2.5 weeks. Call it a hopeful thought for a holiday weekend. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 12:57 pm 7 weird stimulus projectsWhat do Bobber the Water Safety Dog, a reach-in freezer, sliced ham and 115 office chairs have in common? They were all funded with Recovery Act dollars.Source: Business and financial news - CNNMoney.com | 4 Sep 2009 | 12:51 pm SmartPay fundingSmartPay is paying an interest rate of 15 per cent on $3 million it obtained quickly from a private investor to help fund its purchase of the ProvencoCadmus payments division from receivers. Smartpay has previously announced the...Source: New Zealand Herald - Business | 4 Sep 2009 | 12:45 pm FTSE jumps as Goldman talks up earningsThe FTSE 100 surged almost 1.2pc as heavyweight broker Goldman Sachs forecast that European company earnings would rise by 40pc in 2010.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 12:38 pm China's lost filesChina: For all the Communist embrace of the free market, a system of secret employee records survives as an instrument of state control – one the can wreak devastation on citizens’ livesSource: Financial Times - US homepage | 4 Sep 2009 | 12:33 pm Spinning so fast you lose all sense of REALITYAn interesting little window into the world of PR.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 12:33 pm Write-Offs: 09.04.09$$$ CEO's wife gives advice on how to be a good corporate partner. [Charlotte Observer] $$$ Jeff Peek gets to keep his job another year but no private plane which will make this lady very unhappy. [Forbes] $$$ Sarah Palin to speak at CLSA's Asia Markets Conference [Bloomberg] $$$ This 16 year old wants to help you stalk George Soros, etc. [Insider] $$$ "What do Bobber the Water Safety Dog, a reach-in freezer, sliced ham and 115 office chairs have in common? They were all funded with Recovery Act dollars." [CNN Money] $$$ Can you portray one of the following for background work on Money Never Sleeps?:
 Sponsored Topics: Sarah Palin - United States - Asia - CLSA - CNN Source: Dealbreaker | 4 Sep 2009 | 12:29 pm Whitbread latest company to close finalsalary pensionCosta Coffee owner Whitbread has become the latest UK company to close its finalsalary pension scheme to existing members.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 12:28 pm GM may decide fate of Vauxhall next weekGeneral Motors is expected to decide next week about selling Opel and Vauxhall deciding the fate of 5000 British workers.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Sep 2009 | 12:24 pm This Week’s LinksFind out if the government owes you money. Is BP’s big oil find really a big deal? On the off chance you missed People of Wal-Mart this week…here it is. What a double dip recession looks like. Why prepaid debit cards are bad news.
Source: Business Pundit | 4 Sep 2009 | 12:21 pm FHA says won't need congressional support (Reuters)
Source: Yahoo! News: Business | 4 Sep 2009 | 12:16 pm Nato airstrike kills up to 90 AfghansA Nato aircraft fired on hijacked fuel tankers in Afghanistan, igniting a firestorm that killed an estimated 90 peopleSource: Financial Times - US homepage | 4 Sep 2009 | 12:08 pm Farrell Says U.S. Consumers Can’t Drive Recovery: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 12:07 pm Merk Says U.S. Economic Recovery Unstable: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 12:00 pm Romer Says Jobless Rate a `Tragedy,' Stimulus Working: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 11:56 am Dear Glenview Groupies
Glenview August [PDF]
Sponsored Topics: publish - Data Formats - Document - PDF - Windows Tools and Drivers Source: Dealbreaker | 4 Sep 2009 | 11:55 am Oil Rig Counts Staying Stronger (BHI, OIH, USO, OIL)Baker Hughes, Inc. (NYSE: BHI) issued its weekly rig counts and the counts are still going in the right direction overall if you like to see increased drilling activity. This is also showing up in the Oil Services HOLDRs (NYSE: OIH), United States Oil (NYSE: USO), and the iPath S&P GSCI Crude Oil Total Return [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 11:54 am Barclays's Meyer Sees U.S. Unemployment Peaking at 10%: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 11:54 am Crescenzi Says Unemployment Will Hinder U.S. Recovery: AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 11:51 am SBS lifts surplusSBS Bank said its operating surplus in the first quarter ended June 30 was $5.4 million from $5.3 million in the same period last year. General manager finance Tim Loan said it was pleasing to defy the current economic odds through...Source: New Zealand Herald - Business | 4 Sep 2009 | 11:45 am Yamarone Says U.S. Job Destruction at `Breakneck Pace': AudioSource: Bloomberg - All Podcasts | 4 Sep 2009 | 11:36 am French winemakers fear climate changeGrowers blame global warming for upsetting the flavour and balance of grape harvestsSource: Financial Times - US homepage | 4 Sep 2009 | 11:36 am One Way To Handle The Switzerland Issue
The thought process behind this movement stems from the arrest of Gaddafi's son, Hannibal, and his son's wife following their assault of a hotel chambermaid in Geneva last year. Having had time to reflect on their decision, the Swiss now know the unfortunate answer to the question they must have been asking the Gaddafi clan: Given the chance, you would deny me my life, wouldn't you?
Sponsored Topics: Libya - United Nations - Switzerland - Muammar al-Gaddafi - Daily Mail Source: Dealbreaker | 4 Sep 2009 | 11:22 am This Week’s Weird Jobs
Has anyone ever accused you of being a nitpicker? If so, take heed: You can actually put that trait to use professionally. As, well, a professional nitpicker. Read below to see what that entails: 1. San Francisco: Nitpicker wanted Driving is a large part of this job, and the longer you are willing to drive, the more you will work. Driving is unpaid. You can set your own hours, and choose when you work, but should be available at least a few hours every day. No 9-5-ers looking to start work at 6 pm, as children often go to sleep at 8. We will train qualified applicants. This is an independent contractor position. Training is in Los Angeles. Training and travel to Los Angeles is unpaid and can take anywhere from five to ten hours. This job would be for supplemental income. Great job for stay at home moms looking to make extra money. Candidates who apply out of sheer desperation will be strongly considered. 2. New York: Seeking Entry Level Talent for Company Expansion Our marketing firm has an aggressive expansion plan mapped out for 2009 and need entry level talent to start in marketing & sales and develop in our management training program. Here’s who we want: Here’s what we promise: 3. New York: LOOKING for people suffering from DEPRESSION (COMPENSATION OFFERED) Looking for people who are suffering from depression to participate in ongoing programs at their facilities. Specifically, we are looking for individuals who are currently taking depression medication and are not experiencing any positive results. Participants will be given free medical treatment with commonly prescribed and marketed anti-depressant medication by doctors who are internationally recognized to be at the top of their field. There is monetary compensation for this program, please inquire. To those who have unsuccessfully tried all the anti-depressants on the market: We probably can’t help you. 4. PA: Female Smokers Needed 5. DE: Motherhelper I am looking for some one who could help me around the house in after school hours 3-4 days a week. Please reply to this email, if interested. Motherhelper = Nanny + maid + babysitter + whatever I want you to be, because I made up the job title. Happy Friday!
Source: Business Pundit | 4 Sep 2009 | 11:19 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 | 4 Sep 2009 | 11:15 am Where did the weekend come from?Right now millions of Americans are probably counting the minutes until their weekend starts. But the idea of a weekend is a pretty new concept. Krissy Clark reports.Source: Marketplace | 4 Sep 2009 | 11:10 am Weekly Wrap: Reforming the banksClusterstock's John Carney and Reuters blogger Felix Salmon talk with Kai Ryssdal about Treasury Secretary Timothy Geithner's plans to regulate the financial system.Source: Marketplace | 4 Sep 2009 | 11:09 am 'I was laid off, now I'm laid on'Lots of people are still out of work, but some are starting to ease back in, like commentator Glenn Miller. But he's not quite sure what to make of it.Source: Marketplace | 4 Sep 2009 | 11:09 am Is E-Verify too demanding on business?Federal contractors will soon be required to use the E-Verify system to confirm their employees' eligibility to work in the U.S. Jeff Tyler reports.Source: Marketplace | 4 Sep 2009 | 11:09 am Investors take on more risksJunk-rate companies in emerging markets sold more debt in the last seven weeks than they have in the last year. Jeremy Hobson reports on an increasing appetite for risk.Source: Marketplace | 4 Sep 2009 | 11:09 am So, what's a healthy job market again?Unemployment jumped again in August, but the number of jobs lost is the smallest number in a year. Bad or good news? Mitchell Hartman reports on what a healthy job market is supposed to look like.Source: Marketplace | 4 Sep 2009 | 11:09 am Zimbabwe receives boost from IMFThe International Monetary Fund is giving Zimbabwe $400m but a further $100m will be withheld until debts are paid.Source: BBC News | Business | World Edition | 4 Sep 2009 | 11:08 am IPO FILING: Cobalt International Energy (CIE)Cobalt International Energy Inc. has now filed to come public via an initial public offering. While terms were not disclosed, it said it would sell up to $1.15 billion worth of common stock. Shares will trade on the New York Stock Exchange under the ‘CIE’ stock ticker. The independent oil exploration and production company has only [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 10:59 am Is This Some Kind Of Sick Joke?
Sponsored Topics: joke - Recreation - Humor - Joke of the Day - Random Jokes Source: Dealbreaker | 4 Sep 2009 | 10:50 am Oil price steadyOil hovered above US$68 a barrel yesterday, with all eyes on a United States jobs report due later for some clarity on the economy of the world's top energy user as it struggles to emerge from recession. US crude for October delivery...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:45 am Cul-de-sac syndrome hits the U.S.Host Tess Vigeland talks to author John Wasik about his new book "The Cul-De-Sac Syndrome," and why the desire for home ownership isn't always a good thing.Source: Marketplace Money | 4 Sep 2009 | 10:30 am How folks are making do with lessThe threat of losing your job isn't the only tough part of living in a recession. Salary cuts are also taking place left and right. Monica Brady-Myerov reports on how people are getting by with less money.Source: Marketplace Money | 4 Sep 2009 | 10:29 am JetBlue's all-you-can-fly flightsIf you want to travel, but are worried about the cost of flights, JetBlue is selling passes that allow you to travel as much as you can in 30 days. But how is the airline making money off the deal? Jeremy Hobson reports.Source: Marketplace Money | 4 Sep 2009 | 10:29 am Getting PersonalThis week on Getting Personal, Host Tess Vigeland and Economics Editor Chris Farrell weigh in on how to handle your money when pursuing a degree.Source: Marketplace Money | 4 Sep 2009 | 10:29 am Please ignore the optimism machineExperts say the worst of the economic crisis is over, and things are starting to pick up. But Economics Editor Chris Farrrell says don't be too quick to buy into the hype.Source: Marketplace Money | 4 Sep 2009 | 10:29 am Lehman Brothers Made For TV Movie Nails Dick Fuld's Eating Disorder
Leading us into the story is narrator Zach (Michael Landes), a brash young banker from Tennessee, who is Fuld's personal gofer. He sets out philosophizing about resentment of Wall Street -- "If you talk to 100 people, 102 are going to tell you they hate bankers" -- then takes us up the elevator as the boss's name flashes on his cellphone. People acting like self-important dicks over an unsatisfactory piece of meat, particularly when they're of the temperament that could result in whoever was responsible for the faux pas having his or her face cut off, is always amusing, fictional or not. But the fact that the scene above probably actually happened is a nice bonus. From a profile last December: Fuld has a famously voracious appetite--senior executives sometimes ordered him a mid-morning plate of ribs. So the Brits have done their homework. What other true to life LB stories can we expect? Flashback to Richard almost killing a guy at his son's hockey game? Earlier: Dick Fuld: Aptly-Named Villain Or Just A Misunderstood Girl With An Eating Disorder?
Sponsored Topics: Lehman Brothers - Wall Street - Michael Landes - Richard Fuld - BBC Source: Dealbreaker | 4 Sep 2009 | 10:23 am China Demands A Little More Creativity From Its Citizens
Sponsored Topics: Bank of America - China Daily - Guangdong - China - Li Jun Source: Dealbreaker | 4 Sep 2009 | 10:20 am Xinjiang ethnic groups united in hostilityThe government in Xinjiang has been caught off guard by the anger of its own people from China’s Han ethnic majority in Urumqi, the regional capital, who are calling for Xinjiang’s Communist party secretary, to quitSource: Financial Times - US homepage | 4 Sep 2009 | 10:17 am Analyst raises Gap target on Old Navy performance (AP)AP - An analyst on Friday raised her estimates and price target for Gap Inc. on the retailer's sales performance last month, primarily in its Old Navy segment.Source: Yahoo! News: Business | 4 Sep 2009 | 10:03 am Long road back for Contact EnergyContact Energy boss David Baldwin says this year is all about taking the knife to hubris. Market watchers and company critics say dealing to its notorious overconfidence is not before time - last year's PR blunder over directors'...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:00 am Investors in tropical resort keep eye on storm cloudsInvestors in the Fiji Beach Resort & Spa managed by Hilton are waiting for developments after last month's warnings of trouble. The resort continues to operate at Denarau Island with 160 villas. But the business which is expanding...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:00 am Facebook friends up for saleSAN FRANCISCO: On Facebook, most people make friends the old-fashioned way - by sending a request to be added to someone's posse of pals. Now, an Australian marketing company hopes to save you time and energy by simply buying you...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:00 am Brian Gaynor : NZ should take heed of Iceland's mistakesThe collapse of the Icelandic economy has some consequences and lessons for New Zealand. The consequence is the failure of Credit Sails, a credit derivative swap (CDS) product that was sold to a number of the country's charitable...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:00 am US pushes for stronger rules on cash reservesWASHINGTON: The Obama Administration on Thursday proposed stronger international standards for the capital reserves that banks are required to hold. The goal is to avoid a repeat of last year's financial crisis. The administration...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:00 am Leaders ask EU to pressure summit on bonusesPARIS: The leaders of France, Germany and Britain urged the European Union to present a united front at the upcoming G-20 summit for stricter international regulation of the financial sector, including better oversight over bonuses. France's...Source: New Zealand Herald - Business | 4 Sep 2009 | 10:00 am Chronic Unemployment Fuels Rise In Jobless Rate
This has been a year of chronic unemployment. (Source: Bureau of Labor Statistics) By Laura Conaway If you're unemployed and looking, take heart. The length of the average job search fell in August for the first time since November 2008. As of last month, the average hunt for a new gig took 24.9 weeks, the Bureau of Labor Statistics reports. In more ordinary times, that would hardly count as good news for laid-off people. Had the past few months not been so miserable, that 24.9 weeks would be the highest average since the Bureau of Labor Statistics began keep records on duration of unemployment, way back in 1948. Today's report shows an increase to 9.7 percent in joblessness, fueled in part by a continued rise in chronic unemployment. Employers cut the fewest jobs last month in a year, at 216,000. But people who've been laid-off already are having a hard time getting back into the workforce. Now the overall jobless rate has hit a 26-year high. Back then, in June 1983, the average search took 20.8 weeks. Today, people are facing average searches that are a full month longer. The BLS says the number of people sidelined for 27 weeks or more has risen to 4,988,000 from 4,965,000. After the jump, a chart on job searches. 
More people are spending between five and 14 weeks looking for work. (Source: Bureau of Labor Statistics) The National Employment Law Project estimates that half a million people will exhaust their unemployment benefits this month. The NELP says 1.5 million will run out of benefits by the end of the year. As of August 22, some 6,234,000 people were collecting unemployment benefits, up 92,000 from the week before. The Department of Labor reports that as of August 15, another 3 million people were receiving Emergency Unemployment Compensation, a federally funded program that allows for 33 additional weeks of benefits in high-unemployment states. The emergency benefits rolls grew by 85,570 from the week before. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 4 Sep 2009 | 9:52 am Presented By:Source: Dealbreaker | 4 Sep 2009 | 9:22 am Dennis Kneale Thinks Ashley Dupre Makes Some Good Points
Sponsored Topics: Business - Construction and Maintenance - Tools and Equipment - Earthmoving - United States Source: Dealbreaker | 4 Sep 2009 | 9:22 am The New Model In Mortgage Modification Disputes
An Arizona woman, Bobbi Giguere, who submitted the paperwork Wells Fargo requested to process her modification application three times and received virtually nothing but radio silence in return was given the opportunity to question a senior vice president at Wells Fargo Home Mortgage Servicing, Joseph Ohayon, in court. And, much like Springer, people in this case have a hard time telling the truth until they are face-to-face with the other party.
Sadly for Mrs. Giguere, the hearing ended much the same way as a Springer episode- with her exposing Wells Fargo for blatantly lying, Wells Fargo looking a bit foolish but walking away scot-free, and the judge reminding everybody 'till next time, take care of yourself and each other'. Judges' Frustration Grows With Mortgage Servicers [NYT]
Sponsored Topics: Wells Fargo - JerrySpringer - Mortgage - Presidency of Barack Obama - Joseph Ohayon Source: Dealbreaker | 4 Sep 2009 | 9:13 am Average Hourly Wages Rise Again
Still going up. (Source: Bureau of Labor Statistics) By Laura Conaway The average hourly wage rose to $18.65 in August, from $18.59 in July. The Bureau of Labor Statistics reports the growth of 0.3 percent as part of its overall report on employment today. The jobless rate has risen to 9.7 percent, and economists expect it to continue climbing. That compares to a 0.1 percent drop in disposable personal income -- what's left over after taxes -- reported by the Bureau of Economic Analysis for July. The BEA's numbers have been clouded by one-shot stimulus boosts to people on Social Security and veterans benefits. In a longer view, the Bureau of Labor Statistics reported on July 31 that overall wages and benefits grew by 0.4 percent in the second quarter. For the year ending June 2009, wages grew by 1.8 percent. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 9:09 am Length Of Work Week Goes Flat. Employers Less Likely To Hire
Flat for the second month and barely up from a record low. (Source: Bureau of Labor Statistics) By Laura Conaway After falling to a record low in June, the length of the average work week stayed flat in August for the second straight month, the Bureau of Labor Statistics reports. The average hit 33.1 hours per week last month, a nubbin over the historic trough of 33 in June. The figure comes as part of the overall report on unemployment, which shows the jobless rate climbing to 9.7 percent, a 26-year high. Employers are less likely to hire new people until the ones they've got are fully occupied. Despite the increase in the jobless rate, the labor market appears to be leveling out. The average job hunt took slightly less time in August, dropping to 24.9 weeks from 25.1. Last quarter, productivity took the biggest jump since 2003 -- meaning that workers had plenty to do. Employers cut 216,000 jobs, the fewest in a year. Together, the flattening of the average workweek, the rise in productivity and the drop in layoffs suggest that the pace of decline is slowing. Employers are starting to get their situations back in balance, but they're not likely to start hiring anytime soon. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 8:46 am Boosting economy to top G20 talksFinance officials from the G20 are to outline a commitment to boosting the global economy when they meet in London later.Source: BBC News | Business | World Edition | 4 Sep 2009 | 8:39 am Why The Stock Market Likes Today's Rise In UnemploymentBy Laura Conaway The stock market greeted today's increase in unemployment with a rise of .7 percent before fluctuating set in. The Bureau of Labor Statistics announced that in August, the jobless rate hit 9.7 percent, up from 9.4 in June. How could that be good news for anyone? There are two reasons traders like it. First, the pace of decline seems to be slowing. Employers slashed 216,000 jobs, the fewest in a year. That suggests that companies have hit bottom and now have matched labor costs with the work available. It squares with increases in productivity -- a 6.6 percent leap last quarter shows that workers are fully occupied -- and forecasts that global trade has found the bottom and is ready to rebound. Second, investors want the Federal Reserve to keep interest rates low. As long as unemployment is growing, consumer demand should remain flat. A lack of demand will help stave off inflation. And low inflation buys the Fed more time for its program of record-low rates to stimulate the economy. If prices began to climb uncomfortably fast, it would suggest there was too much money sloshing around in the system and the Fed would have to raise interest rates. For stock traders, low interest rates act like oxygen fueling a fire. On the flip side, low rates drive down the value of lending money. You can see that in U.S. Treasurys, which fell after today's news before settling out. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 8:19 am Opening Bell: 09.04.09Bankrupt Ex-Met Dykstra Accused of Taking $40,000 French Stove (Bloomberg) Cow Urine, Herbal Remedies Gain as India Swine Flu Deaths Climb (Bloomberg) Feisty NY Gals Kick Some Ash (NYP) Charlie Gasparino: "When you're humping your book, you'll do anything."
Sponsored Topics: Bloomberg L.P. - New York Post - New York - The New York Times Company - India Source: Dealbreaker | 4 Sep 2009 | 8:15 am Unemployment Hits 9.7 Percent, Underemployment At 16.8 PercentUnemployment RatePercent of U.S. workers age 16 and older By Laura Conaway Unemployment rose to 9.7 percent in August, the Bureau of Labor Statistics reports. That's up 0.3 percent over the July rate of 9.4 percent. Analysts had expected a bump back up to the June level of 9.5 percent, so the actual number is solidly grimmer news for workers. (The stock market, on the other hand liked it.) Last month's small dip was the first decrease in 15 months, and it apparently didn't start a new trend. Employers in August cut fewer jobs than expected, with 216,000 lost overall as opposed to 276,000 in July. Unemployment is now at a 26-year high. White House spokesperson Robert Gibbs told reporters this morning that President Obama still expects unemployment to exceed 10 percent at some point this year. The labor force grew by 73,000 people last month, which shows that some of those who'd dropped out of looking went back to the hunt. The July report showed that 422,000 people left the job market for whatever reason, which helped account for the month's slightly lower unemployment rate. The ranks of the unemployed now include 14.9 million people in the U.S., up by 466,000 since last month. The average monthly job loss for May through July was 331,000, about half the rate of 645,000 from November through April. Since the beginning of the recession, 6.9 million jobs have been lost. The broadest measure of unemployment -- U6, which includes discouraged workers and those working part-time because all they can get -- hit 16.8 percent. That's up from 16.3 percent in July. After the jump, a look at the broadest measure of unemployment. Often called the underemployment rate, U6 combines the count of people who've been laid off and are looking for work with those who have given up or resorted to part-time jobs. 
Up again. (Source: Bureau of Labor Statistics) » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 7:33 am Top Day Trader Alerts (ARRY, HGSI, MTXX, NVLS, FNM)Because this is a Friday ahead of a 3-day weekend and because this is Labor Day, the “volume spikes” and the relative trading will be more muted than most trading days. We have the five top stories here with more detailed trading volume and price analysis in the links over at VSInvestor.com: Array BioPharma Inc. (NASDAQ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 7:29 am The Derivatives They Call "I-Kill-You-Later"By David Kestenbaum Forbes' Gady Epstein writes in his latest dispatch from China about a lawsuit over an investment buyers now call "I-Kill-You-Later." Check the article for the details, but it was basically a complicated derivative with a particularly harsh provision that kicks in if things went bad, which they did. Sellers pitched the investments as "accumulators," for what they would earn in good times. "In Hong Kong, where most of the selling takes place, regulators estimated there were $23 billion in still outstanding accumulator positions in April of last year; add in leverage, and the real amount at risk was much higher." Epstein writes that Citigroup and Goldman Sachs were among the banks selling these things. At least the economy over there seems to be recovering. Or maybe not. Epstein writes that even some top officials worry they're just re-inflating the bubble. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Sep 2009 | 7:09 am Fannie’s NYSE Listing Satisfaction, Celebrating Pain (FNM, FRE)Fannie Mae (NYSE: FNM) made an announcement that the troubled mortgage giant and GSE received notice yesterday from the New York Stock Exchange that it has regained compliance with the NYSE’s minimum price standard for continued listing of its common stock. It was back in November 2008 that the NYSE notified the company that it [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 6:53 am People of Walmart: Beware
The new People of Walmart blog relies on user-submitted images of “outrageously bad / ugly / creepy / crazy shoppers” that grace the aisles of the world’s largest retailer. Based on their About page, the guys who started the website seem pretty cool. I can’t quote my favorite bits here, but part of their philosophy reads:
I’m really curious to know two things:
Image Credit: Brave New Films, Flickr
Source: Business Pundit | 4 Sep 2009 | 6:46 am Unemployment Still Heads Toward Double-DigitsThe unemployment and change in non-farm payrolls data for August is out, and despite some positive trends seen during the weekly data it just isn’t pretty. The change in nonfarm payrolls was -216,000 versus somewhere around -220,000 to -230,000 expected. But the real jump came in the official unemployment rate to 9.7% from a July [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 6:44 am Top Analyst Upgrades and Downgrades (ANF, FRED, FDO, FINL, SEPR, VMED, WTNY, ZUMZ)It is looking pretty thin in analyst calls ahead of the 3-day weekend, but these are some of the top research upgrades, downgrades, and initiations we have seen this Friday morning: Abercrombie & Fitch (ANF) cut to Sell from Hold at Citi. Fred’s Inc. (FRED) Cut to Market Perform at William Blair. Family Dollar Stores (FDO) Cut to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 6:32 am Patience Doesn’t Always Pay
Source: Business Pundit | 4 Sep 2009 | 5:52 am Biden’s Stimulus Speech: A Context Checkby Christopher Flavelle and Amanda Michel, ProPublica – September 3, 2009 Vice President Joe Biden marked the 200-day point of the stimulus package today with a speech at the Brookings Institution, where he spent nearly an hour ticking off its achievements so far. Among other things, Biden said some economists had given the $787 billion stimulus [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 4:10 am IMF: More Concern About The RecoveryWhat was being described by many economists just a few weeks ago as a robust recovery has become hardly any recovery at all. Economist Joseph Stiglitz recently said that improvement in global GDP may not be sustainable. He voiced concern that the anticipated expansion could turn into a “W-shaped” recovery which would mean several more years [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 3:46 am Treasury Wants Stronger Capital Base For Banks But Plans Are VagueThe Treasury wants to make banks, particularly large ones, increase their capital bases and improve their liquidity. In a statement, the department said, “Capital requirements for all banking firms should be increased, and capital requirements for financial firms that could pose a threat to overall financial stability should be higher than those for other banking [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Sep 2009 | 2:59 am
|
