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FSA fines Barclays £2.45m for 'serious' breachesBarclays, Britain's second-biggest bank, has been fined £2.45 million by the Financial Services Authority (FSA) for 'serious' breaches in its reporting of trades. Source: Latest Business News from Times Online | 8 Sep 2009 | 5:30 am Ron Sandler to chair Pearl and Northern RockRon Sandler, the head of the state-owned mortgage lender, Northern Rock, is being lined up to be executive chairman at Pearl, the newly reborn life funds vehicle set up by Hugh Osmond, the entrepreneur. Source: Latest Business News from Times Online | 8 Sep 2009 | 5:07 am Weak dollar sends gold through $1,000 barrier$The price of gold has broken through the $1,000 dollars an ounce barrier, its highest level for 18 months.$ Source: Latest Business News from Times Online | 8 Sep 2009 | 4:53 am Cadbury vows to fight Kraft offerConfectionery group rejects cash and stock offer from US food group that approached the company nearly two weeks agoSource: Financial Times - US homepage | 8 Sep 2009 | 4:35 am Gold returns back above $1,000Gold hits $1,000 an ounce for the first time since February, amid mixed signals about the direction of the global economy.Source: BBC News | Business | World Edition | 8 Sep 2009 | 4:34 am Ed Sec'y Duncan bemoans 30 percent dropout rate (AP)AP - Education Secretary Arne Duncan says President Barack Obama feels that it's critically important to speak directly to America's school students because academic performance must be improved.Source: Yahoo! News: Stock Markets News | 8 Sep 2009 | 4:32 am World stocks up on M&A activity, stimulus pledge (AP)
Source: Yahoo! News: Stock Markets News | 8 Sep 2009 | 4:32 am UK rental market supply tightensTenants' ability to strike a bargain has weakened as fewer properties come onto the rental market, say surveyors.Source: BBC News | Business | World Edition | 8 Sep 2009 | 4:30 am T-Mobile and Orange in UK mergerT-Mobile and Orange are planning to merge their UK businesses - creating a mobile phone giant with 28.4 million customersSource: BBC News | Business | World Edition | 8 Sep 2009 | 4:30 am Sterling jumps as manufacturing data lifts hopes that recession is overManufacturing figures deliver fresh hopes that the economy has stopped contracting.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Sep 2009 | 4:22 am Novozymes sees enzymes sales growing in H2COPENHAGEN, Sept 8 (Reuters) - Danish industrial enzymes producer Novozymes reaffirmed on Tuesday its goal of restoring growth in its enzymes business in terms of local currencies in the second half of...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 4:19 am Relief for airlines as fall in traffic slowsHONG KONG/BRUSSELS (Reuters) - Airlines and their suppliers are reporting tentative signs that a severe industry recession is bottoming out, sending shares higher on Tuesday.Source: Reuters: Business News | 8 Sep 2009 | 4:16 am Gold vaults $1,000/oz, momentum overwhelmsLONDON (Reuters) - Gold powered through the $1,000 per ounce psychological barrier on Tuesday, carried by a wave of pent-up technical momentum and dollar weakness, with some analysts eyeing last year's record high at $1,030.80.Source: Reuters: Business News | 8 Sep 2009 | 4:14 am Gold vaults $1,000/oz, momentum overwhelms (Reuters)
Source: Yahoo! News: Business | 8 Sep 2009 | 4:14 am U.N. body calls for dollar reserve role to be axedA United Nations panel weighs into the dollar reserve currency debate, arguing for a new system of soft pegs to correct severe deficits in debtor nations like the U.S. and surpluses in countries like China.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 4:08 am Futures Movers: Oil rises as dollar falls; OPEC meeting eyedOil futures rose above $69 a barrel on Tuesday, as sharp weakness in the U.S. dollar boosted commodities and energy traders eyed the upcoming meeting of the OPEC oil cartel.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 4:05 am Japan's Idemitsu to triple Boggabri Mine outputTOKYO, Sept 8 (Reuters) - Japanese refiner Idemitsu Kosan Co said on Tuesday it would invest 11.5 billion yen ($124.4 million) to nearly triple coal output at Boggabri Mine in Australia to 4.3 million...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 4:04 am Economic Report: Car production boosts U.K. manufacturing outputU.K. manufacturing output rose at roughly three times the expected growth rate in July as a car scrappage program contributed to a rise in auto production.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 4:03 am Indications: U.S. stock futures climb after M&A, G20 meetingU.S. stock futures make a strong advance Tuesday, with Kraft Foods’ $16.7 billion unsolicited bid for Cadbury and a G20 pledge to continue stimulus spending giving a boost to markets after the Labor Day break.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 4:02 am RPT-REFILE-Novozymes says its enzymes market share 47 pctCOPENHAGEN, Sept 8 (Reuters) - Danish industrial enzymes producer Novozymes said its global market share is 47 percent and it had gained share in recent years, contributing most of the market growth over...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 4:01 am UK manufacturing surges on car productionBritish manufacturing output rose at its fastest monthly rate in one and a half years in July, helped by a surge in car production, according to the latest official data. Source: Latest Business News from Times Online | 8 Sep 2009 | 4:01 am China unveils its largest planeChina unveils what will be its largest locally-made commercial aircraft as it aims to take on the world's big planemakers.Source: BBC News | Business | World Edition | 8 Sep 2009 | 4:01 am Brazil to become first foreign customer for French jetFrance has struck a landmark outline accord to sell 36 Rafale fighters for between four and seven billion dollars to Brazil, potentially the first foreign customer for the expensive jet,...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 4:00 am REFILE-Novozymes says its enzymes market share 47 pctCOPENHAGEN, Sept 8 (Reuters) - Danish industrial enzymes producer Novozymes said its global market share is 47 percent and it had gained share in recent years, contributing most of the market growth over...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 4:00 am China Agritech Expands Sales Contract with Sinochem, China's Largest Fertilizer Distributor- New contract for 15,000 tons of "Green Vitality" granular fertilizer in addition to the prior contract of 1,200 tons of liquid fertilizer - BEIJING, Sept. 8...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 4:00 am Dollar slumps to 11-month lowThe dollar fell to its lowest level in almost a year on Tuesday as a rally in gold prices above $1,000 an ounce and fresh concerns over its reserve status weighed on the US currency. Analysts said the...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 3:58 am T-Mobile and Orange to merge in U.K.Deutsche Telekom said Tuesday that it plans to merge its T-Mobile U.K. division with France Telecom's Orange U.K. unit in a 50-50 joint venture that will create the country’s top mobile-phone operator.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 3:58 am WaMu: The forgotten bank failureWashington Mutual is long gone, but its lax lending could haunt us for years.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 3:55 am We'll have to cut costs - DarlingThe government will have to make "hard choices" on spending as it deals with the effects of the recession, the Chancellor says.Source: BBC News | Business | World Edition | 8 Sep 2009 | 3:52 am Miners help London shares stay positiveLondon equities traded around their year's highs on Tuesday, with banks and miners finding further support, but there were signs that risk appetite was beginning to wane. The FTSE 100 rose 34 points to...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 3:50 am UPDATE 2-Advanced Medical H1 profit falls; to meet FY view* H1 pretax profit, before items 896,000 stg vs 1.2 mln stgSource: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 3:50 am McDonald's loses battle to stop restaurant calling itself McCurryThe American fast food giant McDonald's loses an eight year legal battle to prevent a Malaysian restaurant calling itself McCurry.Source: BBC News | Business | World Edition | 8 Sep 2009 | 3:35 am China regulator seeks more info on Hummer buy (Reuters)Reuters - China's Commerce Ministry has not rejected heavy equipment maker Tengzhong's planned purchase of GM's Hummer unit, but has asked for more information on the deal, a source familiar with the matter said on Tuesday.Source: Yahoo! News: Business | 8 Sep 2009 | 3:33 am China regulator seeks more info on Hummer buySHANGHAI (Reuters) - China's Commerce Ministry has not rejected heavy equipment maker Tengzhong's planned purchase of GM's Hummer unit, but has asked for more information on the deal, a source familiar with the matter said on Tuesday.Source: Reuters: Business News | 8 Sep 2009 | 3:33 am OPEC set to hold supply steady, likes oil priceVIENNA (Reuters) - Oil at close to $70 means OPEC will almost certainly keep existing output cuts in place when it meets in Vienna on Wednesday, although it could seek to tighten compliance with existing targets, ministers and delegates said.Source: Reuters: Business News | 8 Sep 2009 | 3:32 am Resources lift Australia; new cabinet ups TaiwanAustralian shares lead the winners in Asia Tuesday, buoyed by a jump in business confidence and by gold’s long-anticipated move above $1,000 an ounce.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 3:31 am Aquascutum falls back into British ownershipAquascutum, the luxury British clothing brand, is to return to British ownership after being bought by Harold Tillman, the fashion entrepreneur. Source: Latest Business News from Times Online | 8 Sep 2009 | 3:30 am Carmakers boost UK manufacturingUK manufacturing output rose at its fastest rate in 18 months in July, helped by a sharp pick up in car production, figures show.Source: BBC News | Business | World Edition | 8 Sep 2009 | 3:26 am End to easy money not such a bad thingIn 2001, DNA Software won a $1.5 million, three-year grant from the state of Michigan to develop computer programs for genomics researchers. Four years later, the eight-employee Ann Arbor company was on the verge of bankruptcy.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 3:24 am Metallurgical Corp. set for $2.6 billion IPO in HKMetallurgical Corp of China will raise at least HK$17.68 billion ($2.6 billion) in a Hong Kong IPO, marking the city’s largest in 18 months, according to wire reports,.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 3:21 am Wall Street's rally put to the testSunburned and barbecued out, Wall Streeters returning to work next week face the first big challenge to the six-month-old rally.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 3:18 am Stock index futures point to Wall St rising (Reuters)
Source: Yahoo! News: Business | 8 Sep 2009 | 3:17 am Stock index futures point to Wall St rising (Reuters)
Source: Yahoo! News: Stock Markets News | 8 Sep 2009 | 3:17 am Stock index futures point to Wall St rising(Reuters) - Wall Street was set to enjoy a positive return to trading on Tuesday after the Labor Day holiday, according to stock index futures.Source: Reuters: Business News | 8 Sep 2009 | 3:17 am Stock index futures point to Wall St rising(Reuters) - Wall Street was set to enjoy a positive return to trading on Tuesday after the Labor Day holiday, according to stock index futures.Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 3:17 am Gold tops $1,000 as dollar slumpsRead full story for latest details.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 3:14 am Gold rises above $1,000 an ounceGold prices hit a year high above $1,000 a troy ounce on Tuesday, as renewed dollar weakness attracted more investors to the safety of bullion. Traders said that worries about the re-emergence of inflation...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 3:14 am Gold rises above $1,000 an ounceGold prices regained the $1,000 mark for the first time since March 2008, as haven assets remained in demandSource: Financial Times - US homepage | 8 Sep 2009 | 3:14 am Sanofi Pasteur to provide Brazil with H1N1 vaccinePARIS, Sept 8 (Reuters) - Vaccine maker Sanofi Pasteur, part of French drugmaker Sanofi-Aventis , will supply Brazil with 18 million doses of vaccines against the pandemic H1N1 flu and could supply 15...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 3:14 am US loses top spot in competitiveness rankingSwitzerland knocked the US off the position as the world’s most competitive economy as the crash of the US banking system left it more exposed to some long-standing weaknesses, a report saidSource: Financial Times - US homepage | 8 Sep 2009 | 3:11 am Gold price jumps above $1,000The price of gold rose above 1,000 dollars an ounce here on Tuesday, reaching the highest level for 18 months, as a weaker dollar fuelled demand for the metal, dealers said. Gold hit...Source: RSS feed - channel BNewsBusiness | 8 Sep 2009 | 3:10 am Stocks set to climbU.S. stocks were set to climb at Tuesday's open as hopes for a revival in deal activity bolstered traders returning from the long weekend.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 3:07 am Berlin softens stance on GM keeping OpelMUNICH (Reuters) - The German government seemed to soften its stance on the possibility of U.S. carmaker General Motors scrapping plans to sell Opel and keeping the European carmaker instead when GM's board meets this week.Source: Reuters: Business News | 8 Sep 2009 | 3:04 am FTSE 100 rises to 11-month highFurther gains for Cadbury following Monday’s £10.2 billion bid approach from Kraft Foods helped the London stockmarket up to a new 11-month high. Source: Latest Business News from Times Online | 8 Sep 2009 | 3:04 am European stocks rise at open (AFP)
Source: Yahoo! News: Stock Markets News | 8 Sep 2009 | 2:58 am Beijing groups in trio of Australian dealsChinese state-backed entities agreed to a trio of strategic investments in fledgling Australian mining groups on Tuesday, led by China Guangdong Nuclear Power's offer to buy 70 per cent of Energy Metals,...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 2:58 am China to sell yuan bonds abroadChina has announced its first-ever sale of 6bn yuan ($880m; £534m) of government bonds in yuan outside of the mainland.Source: BBC News | Business | World Edition | 8 Sep 2009 | 2:50 am London Markets: Miners help London shares advance for third dayMiners move higher in London on Tuesday, as gold futures head back over the $1,000 an ounce level.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 2:45 am Kingfisher rushes out profits amid data leakKingfisher, the DIY retailer behind B&Q, has been forced to rush out details of its forthcoming half-year results after draft figures were release by mistake on Monday. Source: Latest Business News from Times Online | 8 Sep 2009 | 2:38 am Repossession risk areas in focusResidents of England are more likely to have their homes repossessed if they live in the North West or the West Midlands.Source: BBC News | Business | World Edition | 8 Sep 2009 | 2:32 am Out of work? Look outside the U.S.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 2:31 am Metals Stocks: Gold rallies above $1,000 an ounceGold futures climb as high as $1,000 an ounce, marking the first time a front-month contract has reached the psychologically key level since late February.
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 2:31 am Paul B. Farrell: Lazy Portfolios win big. AgainWe got in the ring and whipped the “Obama Nudgers Funds.” They’re managed by one of America’s top portfolio teams, a powerhouse that promotes its unique “behavioral edge” and is armed with top gurus in the new fields of behavioral science, neuroeconomics, quantitative mathematics, investment psychology, behavioral finance and the new “science of irrationality.”
Source: MarketWatch.com - Top Stories | 8 Sep 2009 | 2:23 am Gold jumps to 1000Gold prices hit 1000 an ounce for the first time in more than six months as investors sought out the precious metal's appeal as a safe haven.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Sep 2009 | 2:21 am Cadbury nixes $16 billion Kraft offerBritish candy maker Cadbury has rejected a 10.2 billion pound ($16.7 billion) offer from U.S. food giant Kraft to merge the companies, according to a statement released Monday.Source: Business and financial news - CNNMoney.com | 8 Sep 2009 | 2:18 am Gold breaks 1000 an ounce barrierThe price of gold has broken through the 1000 for the first time since February this year.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Sep 2009 | 2:14 am D.Telekom, France Telecom to join forces in UKBERLIN (Reuters) - Deutsche Telekom and France Telecom have launched exclusive talks to merge their British mobile units in a joint venture that would grab the top spot in the cut-throat UK market.Source: Reuters: Business News | 8 Sep 2009 | 2:10 am Deadline for $24m Leibovitz loanUS photographer Annie Leibovitz could lose the rights to her iconic images if she does not pay back a $24m (£14.5m) loan.Source: BBC News | Business | World Edition | 8 Sep 2009 | 2:04 am Share tips: buy WhitbreadStockbrokers give their views on whether you should buy sell or hold a selection of shares.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Sep 2009 | 2:03 am Aust dollar on one-year highSYDNEY - The Australian dollar ended the domestic session at a fresh 12-month high as a rally on equity markets lifted demand for high-yielding currencies. At 1700 AEST, the Australian dollar was trading at US$0.8591/94, up 0.88...Source: New Zealand Herald - Business | 8 Sep 2009 | 2:00 am Jaeger team buy luxury brand AquascutumThe team behind Jaeger the fashion chain headed by clothing entrepreneur Harold Tillman is to buy to 158yearold British luxury brand.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 8 Sep 2009 | 1:39 am Regulators agree tough rules on bank capitalEurope’s banks are facing capital raisings that will run into tens of billions of euros over the coming months, in the wake of G20 ministers’ insistence that the quality of capital must improveSource: Financial Times - US homepage | 8 Sep 2009 | 1:36 am British mobile phone revolution as Orange and T-Mobile confirm merger talksThe British mobile phone landscape was today set for huge upheaval after the owner of T-Mobile said it wants to merge with Orange. Source: Latest Business News from Times Online | 8 Sep 2009 | 1:13 am Aussie markets on highMELBOURNE - The Australian share market closed firmer, notching up a fresh 11-month high, advancing on the back of strength in materials and financial stocks and business confidence lifting to a near six-year high. At 1615 AEST...Source: New Zealand Herald - Business | 8 Sep 2009 | 1:12 am T-Mobile UK and Orange in joint ventureDeutsche Telekom and France Telecom on Tuesday said they wanted to merge their British mobile-phone units T-Mobile UK and Orange UK to create a market leader better able to compete with two remaining big...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 1:12 am T-Mobile UK and Orange in joint ventureDeutsche Telekom and France Telecom have agreed to merge their UK mobile businesses to create a new market leader with almost 30m customersSource: Financial Times - US homepage | 8 Sep 2009 | 1:12 am Swiss topple U.S. as most competitive economy: WEF (Reuters)Reuters - Switzerland knocked the United States off the position as the world's most competitive economy as the crash of the U.S. banking system left it more exposed to some long-standing weaknesses, a report said on Tuesday.Source: Yahoo! News: Business | 8 Sep 2009 | 1:10 am Swiss topple U.S. as most competitive economy: WEFGENEVA (Reuters) - Switzerland knocked the United States off the position as the world's most competitive economy as the crash of the U.S. banking system left it more exposed to some long-standing weaknesses, a report said on Tuesday.Source: Reuters: Business News | 8 Sep 2009 | 1:10 am AOL names ex-Yahoo exec Garlinghouse to head email groupNEW YORK (Reuters) - AOL Inc, the Internet unit of Time Warner Inc, said on Tuesday it has appointed former Yahoo Inc executive Brad Garlinghouse as president of its Web and mobile communications group.Source: Reuters: Business News | 8 Sep 2009 | 1:08 am 'Group coupons' grow with the WebKatie Temme lost her job as a television producer recently, but that didn't keep her from buying herself a bouquet the other day.Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 1:00 am Congress may consider tax on executives' health plansLawmakers are looking at a levy on top-tier medical coverage - the kind that most corporate executives enjoy - to help finance healthcare reform. Some fear that such a tax could trickle down badly. ...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 1:00 am Dole out to raise some greenThe heavily leveraged fresh produce company hopes a $500-million stock sale bears fruit. Plans by Dole Food Co...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 1:00 am IKEA's Burbank store and the guerrillas in housewaresFor reasons known only to the pop-culture gods, IKEA -- the Swedish retailer of cheap, lingonberry-flavored furniture and other shinola -- has suddenly become a ubiquitous presence in the ether. Example:...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 1:00 am Movies worked hard for little money over Labor Day weekendBOX OFFICE Neither romance nor action nor comedy could shake Hollywood from its traditional Labor Day blues. ...Source: RSS feed - channel BNPaperBusiness | 8 Sep 2009 | 1:00 am CFTC's farm roots complicate reform effortsAgriculture committees in the House and Senate oversee the Commodity Futures Trading Commission. Agreeing to merge the CFTC with the SEC would cost lawmakers big campaign contributions.The road to reforming financial regulations winds through the cornfields, hog farms and cattle ranches of America's heartland, and that complicates the Obama administration's already arduous effort to revamp oversight of Wall Street.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Start online businesses simply, grow slowlyDear Karen: How do I bootstrap an online business start-up?
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am IKEA's Burbank store and the guerrillas in housewaresFor reasons known only to the pop-culture gods, IKEA -- the Swedish retailer of cheap, lingonberry-flavored furniture and other shinola -- has suddenly become a ubiquitous presence in the ether. Example: in August, when the 2010 IKEA catalog came out, people went utterly bonkers because the designers had changed the print font from the familiar Futura to Verdana -- an esoteric difference, to be sure. The story rocketed to No. 2 on CNN.com's most-read list, according to Mona Astra Liss, IKEA's director of public relations. But for the passing of Sen. Edward M. Kennedy, the story might have gone to No. 1.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Movies worked hard for little money over Labor Day weekendBOX OFFICENeither romance nor action nor comedy could shake Hollywood from its traditional Labor Day blues.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am OPEC not expected to cut oil output quotasENERGY
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am 'Group coupons' grow with the WebKatie Temme lost her job as a television producer recently, but that didn't keep her from buying herself a bouquet the other day.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Congress may consider tax on executives' health plansLawmakers are looking at a levy on top-tier medical coverage - the kind that most corporate executives enjoy - to help finance healthcare reform. Some fear that such a tax could trickle down badly.As the chief executive of TRW Automotive Holdings Corp., John Plant received the company's generous healthcare benefits last year, as well as special "executive medical" coverage worth an additional $38,272.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Dole out to raise some greenThe heavily leveraged fresh produce company hopes a $500-million stock sale bears fruit.Plans by Dole Food Co. to sell shares to the public were triggered by a cash crunch for the nation's largest fresh produce business and its owner, billionaire David Murdock.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Los Feliz custom drapery salon having tough time snagging new clientsConsultant Mona L. Eisman suggests ideas that can help family-owned Gypsy's Palace reach $500,000 in annual sales.It started with a dramatic set of black chiffon drapes.
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Kraft to pursue takeover of Cadbury after bid is rejectedBritish candy maker Cadbury had rebuffed the U.S. food company's $16.7-billion bid. Some analysts believe it could fetch much more.Kraft Foods Inc. said it would pursue a takeover of Cadbury after the British maker of Trident gum and Dairy Milk chocolate rejected a bid of 10.2 billion pounds ($16.7 billion).
Source: L.A. Times - Business | 8 Sep 2009 | 1:00 am Modest gains on NZ marketModest gains in early trading on the New Zealand sharemarket today were eroded as it ran out of buyers and profit-takers stepped in. It finished virtually unchanged despite firm rises in Europe and Asia, though brokers noted there...Source: New Zealand Herald - Business | 8 Sep 2009 | 12:36 am NZ dollar rides US69c rangeThe New Zealand dollar pushed through the US69c level and rode rampant for much of the day after hitting 12-month highs against the greenback and euro. The kiwi climbed as high as US69.35c overnight , but by 5pm had fallen back...Source: New Zealand Herald - Business | 7 Sep 2009 | 11:52 pm TMobile and Orange to create Britain's biggest mobile phone operatorTMobile and Orange have announced plans to create Britain's largest mobile phone operator.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 7 Sep 2009 | 11:51 pm U.S. hiring outlook dips, better elsewhere: Manpower (Reuters)Reuters - A forward-looking measure of hiring intentions dipped slightly in the United States even as it improved in many other countries, according to a quarterly survey by Manpower Inc.Source: Yahoo! News: Business | 7 Sep 2009 | 11:45 pm U.S. hiring outlook dips, better elsewhere: ManpowerNEW YORK (Reuters) - A forward-looking measure of hiring intentions dipped slightly in the United States even as it improved in many other countries, according to a quarterly survey by Manpower Inc.Source: Reuters: Business News | 7 Sep 2009 | 11:45 pm 3 Small Companies With Blazing Sales Growth (Screens)
Earlier this month I ran a search for companies that have grown their sales quickly over the past year even as most companies’ sales have declined. I confined the results of that screen to large companies. Below are some small ones that are growing even faster. Health GradesMarket Value: $133 million K12Market Value: $548 million InterDigitalMarket Value: $937 million 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 | 7 Sep 2009 | 10:00 pm 10 Things Your College Student Won't Tell You (10 Things)1. “Sure, I’ve cheated. Who hasn’t?” Cheating has reached an all-time high on college campuses, with 70 percent of students now admitting to some form of it. Incidents involving unsourced material from the Internet in written work quadrupled between 2000 and 2006, yet 77 percent of students don’t consider it cheating or “very serious.” “Some students have justified it to themselves,” says Donald McCabe, founding president of the Center for Academic Integrity. “They’ll say it’s the faculty’s fault if they’re too lazy to stop it.” Mobile devices exacerbate the problem; students can text-message answers to one another or use camera phones to post exams online. SparkMobile, a service from study-guide publisher SparkNotes, lets students send in text-message queries and get crib notes in seconds. But that’s just one of many such services: GradeSaver.com grants access to sample essays for $6 a month, while RentACoder.com lets computerscience students outsource homework to India for around $20. The companies say their sites weren’t designed to help students cheat, but “it’s impossible to police,” admits RentACoder founder Ian Ippolito. 2. “Studying abroad’ is one big party.” In 2006 Congress passed a resolution dubbing it the “Year of Study Abroad.” “We want the next generation of adults to be in touch with their national and global citizenship,” says Jessica Townsend Teague, former program manager at the Commission on the Abraham Lincoln Study Abroad Fellowship. But despite good PR, study-abroad programs are often less than rigorous, and underage drinking is rampant. “It’s necessary for the image of study abroad to shift from a ‘party hearty’ experience to a very serious national priority,” Townsend Teague avers. It’s also a matter of safety: “Students go from being unable to drink legally to countries where alcohol is freeflowing,” says Gary Rhodes, director of the Center for Global Education at Loyola Marymount University. “Some students have died while abroad.” Schools are doing their part to protect students, requiring better orientation and urging them to avoid countries deemed unsafe by the State Department. But Townsend Teague advises students to think before they act: “Take a moment to be very sober about what we can and cannot do to rescue a student overseas.” 3. “I’d stay here forever if you’d pay for it.” Brian Bordeau graduated in 2006 from the State University of New York at Binghamton. He says it wasn’t a big deal, but admits everyone else thought it was—he’d been in school for seven years. “Honestly, I’d rather come to school again next fall,” he says. “I really like it here.” Bordeau isn’t alone: Just 53 percent of students enrolled in standard undergraduate programs get their bachelor’s degree within five years. Changing majors, transferring schools, and good old slacking off can all result in extended enrollment. One of the obvious downsides is the added financial burden of an extra year or two in school. But there are hidden costs, too. “You lose a lot of money in loan interest and forgone wages by taking that fifth or six year to finish,” says Jacqueline King, director of the American Council on Education’s Center for Policy Analysis. If you plan to pay your child’s way through college, King suggests setting a firm timetable. When Bordeau was forced to take out loans to pay for tuition during his sixth year, he began to buckle down and hit the books. The final year, “I paid for it,” he says. “That motivated me to finish.” 4. “College life can be hazardous to my health.” Parents of college students often worry about their children’s well-being—and for good reason. The university experience can be marred by physical and mental health issues ranging from anorexia and communicable diseases to depression. But the most serious concern for parents and educators is suicide, which accounts for an estimated 1,100 student deaths each year. Fortunately, most schools now have counseling and intervention programs, but they differ widely. Some colleges ask those who’ve disclosed thoughts of suicide to withdraw—a policy that can inadvertently keep students from seeking help. The University of Illinois (UI) has developed another approach: protecting a student’s “right to be in school,” but requiring those who have threatened or attempted suicide to attend assessment sessions. “If a student says he wants to take his own life, those statements should always be taken seriously,” says Paul Joffe, chair of the Suicide Prevention Team at the University of Illinois. The program is aggressive, but it works: UI’s suicide rate has decreased by 45 percent since it began 21 years ago and is around half that of other Big Ten schools. 5. “My résumé isn’t the only thing I have posted on the Internet.” Social-networking sites are wildly popular among college students, providing a forum for meeting and chatting with friends, posting photos, and writing about their lives and interests. But search Facebook—as some employers do to screen job candidates—and you’ll find photos of underage drinking, partying, and scantily clad college kids. “There are students who work like crazy on their GPA but don’t think twice about what they’re posting on Facebook,” says Lauren Steinfeld, chief privacy officer at the University of Pennsylvania. College athletes have been particularly brazen. In a 2006 incident involving Northwestern’s girls’ soccer team, pictures on Webshots.com showed rookies blindfolded and in their underwear performing sexually suggestive acts. The team was temporarily suspended, and some members await further disciplinary action. “It’s hard for anyone over the age of 30 to truly understand what is going on at college these days without seeing it for themselves,” says Bob Reno, founder of BadJocks.com, a sports-scandal site. And these days, it seems, “seeing it” is just a mouse click away. 6. “Just because I was a straight arrow in high school doesn’t mean I will be in college.” The statistics are pretty scary: Each year 2.8 million college students drive drunk, and 1,700 die from alcohol-related injuries. Nearly half a million engage in unprotected sex, and almost 100,000 students are victims of alcohol-related sexual assault or date rape. But alcohol isn’t the only substance that’s a problem. Use of narcotics other than heroin is back up to record levels among college students, and there’s a newer trend causing concern: 29 percent say they have used prescription drugs recreationally. These include pain relievers like Vicodin, which can lead to respiratory and liver failure, and amphetamines such as Ritalin and Adderall, which can result in cardiac arrhythmia and coma—and can lead to harder drugs. Students using these stimulants are 20 times more likely to try cocaine. Part of the problem is that these prescription drugs are so easy to come by—many college students have prescriptions for drugs like Adderall and Ritalin and are willing to sell them, says Sue Foster, vice president and director of policy research for the National Center on Addiction and Substance Abuse at Columbia University. “Many [of these drugs] are just there for the taking in medicine cabinets across the country,” Foster says. Ironically, while drug use in high school is also up, drinking there is at an all-time low. According to the latest UCLA survey, fewer than half of last year’s incoming college freshmen say they drank beer as high school seniors. And while that’s surely good news, it remains to be seen whether the trend holds once these students hit campus. 7. “My grades are none of your business.” Even though parents may have taken their child on campus visits, helped her move into her dorm, and are now picking up the tuition bill, they could be denied access to their child’s college records. Want to see if your son failed math? Wonder if your daughter has been ill? Depending on a given school’s policy, you may have to get your college kid to sign a consent form. Some schools grant access to parents of students who are claimed as dependents; there’s also an exception permitting disclosure in the case of a medical emergency, such as a suicide attempt or testing positive for tuberculosis. “Nobody should get the impression that anything is absolutely confidential,” says Steinfeld, at the University of Pennsylvania. Each school’s approach to these exceptions is different, and the policy is usually detailed on the university’s website. 8. “I’ll do just about anything for money.” It’s no surprise that college students are strapped for cash, but what they’ll do to earn it can sometimes be a bit shocking. Participating in research studies and surveys is one way to earn cash without committing to a steady gig. Fliers advertising participation in an experiment—worth anywhere from $7 to $80, depending on the task and time commitment—adorn campus bulletin boards and psychology department websites. “I have to get my money somehow,” says Yale senior Elizabeth Friedlander, who averages three experiments per month—so far including two MRIs. For an even bigger payout, young women have begun donating their eggs to infertile couples: An “elite” ovum harvested from a healthy female at a top university can fetch anywhere from $10,000 to $35,000. “You’ll see ads in all the Ivy League newspapers,” says Debora Spar, a professor at Harvard Business School and author of The Baby Business. “Some women donate for money, some out of a sense of altruism, and most for a complicated mix of both motives.” But the process is relatively new and virtually unregulated. “In other medical fields, we know the long-term effects,” Spar says. “Here there’s less information.” 9. “I’m up to my ears in credit card debt . . .” No one said college would be cheap— tuition is up 95 percent from a decade ago at four-year public institutions and 74 percent at private schools. The cost of books and room and board is also on the rise. But many students who graduate with debt have only themselves to blame: Experts say the idea of living within one’s means now seems alien to many students and cite growing pressure to keep up with classmates by purchasing expensive clothes, cars, and gadgets. The average college senior now has six credit cards and a $3,200 total balance. (A better idea is for students to begin with prepaid credit cards, to build in control of their spending.) The effect of mounting student debt is profound: 11 percent of college students frequently pay less than their monthly minimum, which can make it difficult to rent an apartment, obtain a car loan, or even get a job. “Debt strangles their ability to become adults and make good career choices,” says Tamara Draut, author of Strapped: Why America’s 20- and 30-Somethings Can’t Get Ahead. In fact, 17 percent of young adults significantly alter their career path because they’re so far in the red so early; Draut says that often “the door is locked” to fields like teaching and nursing, since salaries are too low to support young grads carrying heavy debt. 10. “. . . so I’ll be moving back home after graduation.” On graduation day students are ready for the real world, and parents are finally off the hook, right? Not necessarily. Currently, in 13 million households—up 70 percent from 2000—parents are financially supporting children 18 and over, whether they live at home or not. It’s a trend that experts don’t expect to end anytime soon. What’s more, even working adult children are struggling to make ends meet—and they’re moving back home in droves. They’re called “boomerang kids,” and nearly 11 million homes housed them in 2006, according to MacroMonitor, a market-research program operated by Consumer Financial Decisions. “They’re not dependent according to taxes, but they’re sleeping on the couch, running up the utilities, and using the ice box,” says Larry Cohen, director of CFD. “The nest isn’t quite empty.” Experts cite rising rents, the difficulty of finding a well-paying entry-level job, and debt as the primary contributors to this national homecoming. It’s not all bad—moving home may give young adults a leg up, since they can use salaries to pay off debt and won’t have to jump at the first job they’re offered just to pay the bills. “If your parents live somewhere where you can find a job, do yourself a favor and live rent-free for a year or two. It makes a big difference,” Draut says. 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 | 7 Sep 2009 | 10:00 pm Thirtysomething and Strapped: What to Do? (Consumer Action)Is 30 the new 20? Or the new 16? A new survey of young workers published by the AFL-CIO suggests many Americans under 35 can’t manage the basic financial building blocks of an adult life. The union calls the last ten years a “lost decade” for these young people during which many fell short on critical responsibilities like getting their own place, finding a stable job with benefits and saving money for emergencies. About 31% of survey respondents said they made enough money to pay their bills and set some money aside, and seven out of 10 respondents said they did not have enough money saved to cover two months’ worth of living expenses. Parents of these young workers know how far they are from making it on their own; one in three is living at home. “Along almost every metric, people under 35 are doing much worse than they were 10 years ago,” says Jennifer Jannon, 29, a regional director for Working America, the ALF-CIO’s community organization for non-union workers. “People are literally putting off starting their adult lives because of the conditions they’re facing economically,” Jannon says. She says the results should not be interpreted as laziness. “Young people are really yearning to move out on their own [and] to start their adult lives,” she says. “[But], they can’t find the type of work that supports an adult life.” Some take issue with the suggestion that the current job market is more difficult for young workers than for their counterparts over 35. “It’s easier for younger people because they have less experience, and they don’t cost as much,” says Robin Ryan, a career counselor and the author of “60 Seconds And You’re Hired.” “If you’re over 40, a lot of employers see you as expensive,” Ryan says. Employers may also assume younger workers are more tech-savvy and can more quickly adapt to a changing workplace, she says. Regardless of who’s to blame, the result for young workers will be a substantial loss of potential wealth over their lifetimes. A person who’s able to save $2,000 a year between ages 22 and 30 will retire with more money than a person who saves the same amount over a longer period from ages 30 to 60, says Thomas Holland, a partner at the wealth advisory firm Global Vision Advisors. It’s crucial that those seven out of 10 young workers who don’t have enough savings to last two months start saving right away. “Though the economy may be poor, what I find is that if you don’t establish savings habits early in your career, it’s not likely that at some golden age you’ll learn to save,” Holland says. Here are some tips for workers in Generations X and Y who are trying to start saving: Cut Your Expenses“'Spend less than you earn’ is the fundamental principle of personal finance,” says J.D. Roth, co-author of the book “10,001 Ways to Live Large on a Small Budget.” “It seems really simple and obvious, but so many people don’t do that,” Roth says. Evaluate regular expenses like a gym membership, Netflix (NFLX) subscription or unlimited text-messaging plan to see how much you’re really using them. “If you’re not actually using it very much, get rid of it,” says Trent Hamm, 30, author of the book “365 Ways to Live Cheap.” “People in their 20s tend to do a lot of expensive things with their friends,” Hamm says. Don’t spend without thinking just to keep up with your peers, Hamm says. He suggests finding a hobby that you’re really passionate about. By focusing your mental energy on one thing you love – and seeking out friends who share that interest – you may find yourself not “spending money just for the sake of spending money,” Hamm says. Set GoalsIt’s easier to save if you have a clear idea of what you’re saving for, Holland says. “If you really spend the time to think about why you’re working in the first place, you’re much more likely to save more and be more intentional with where you’re saving,” he says. Choose to build up an emergency fund of six months’ worth of expenses or to put a down payment on a house, and each small amount you put aside will feel more meaningful. Saving for specific purposes might also help you stay more focused on your personal goals. It’s a mistake to act because of your envy of someone whose car, apartment or shiny gadgets are nicer than yours, Holland says. “Never judge people based on their lifestyle and where they live in terms of their worth because it’s never a correlation. More times than not, they’re worth less than the person living in the smaller house driving the Honda Accord,” he says. Make It EasyThe easiest way to save for retirement is to take advantage of an employer’s offer to match your contribution to a 401(k) – the money comes out of your paycheck automatically, and you’re getting free money. You can also set up automatic transfers from your checking account to make building an emergency fund just as easy. “It’s a lot easier to save because you don’t have to think about it every time [and] you don’t have the opportunity to talk yourself out of it,” Hamm says. Workers whose jobs don’t offer a matching contribution to a retirement fund can set up a Roth IRA. “They’re easy as pie to set up; it’s just actually doing it and taking action, that’s always the trick,” says Hamm. Low-income workers may be eligible for a tax credit of up to $2,000 for contributions to a retirement savings account such as a Roth IRA. Once you’ve established a saving habit, stick with it. One common problem is what Roth refers to as “lifestyle inflation,” the inevitable desire to respond to a raise or a bonus by spending more. The most successful people I’ve seen with personal finance don't spend more money as their incomes increase; instead, they bank that money, he says. 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 | 7 Sep 2009 | 10:00 pm Annuities: Boring Is BetterSuppose that when it comes to retirement planning, you do everything right. You estimate how many years you will have to draw down your assets, rather than accumulating wealth through full-time work; you figure out how much money you will need per year; and you build your portfolio toward the required total. The unfortunate truth is that even then, you’ll still face two major financial risks as you grow older. One is inflation: Your money will buy less in the future than it does today, and it may buy less than you expect, particularly if medical costs remain out of control. That’s why it’s so important to stay invested in equities. The other risk is longevity. If you’re 65 now, Census Bureau data says you can expect to live another 18.7 years, but that hardly means it’s safe to plan a 19-year retirement. For one thing, that statistic is an average, which means about half of 65-year-old Americans will live longer. For another, life expectancies are growing all the time. That’s great news—unless you outlive your assets. The simplest form of an annuity as an investing vehicle is called an immediate life annuity, for which you pay a financial-services company a sum of money, and it guarantees regular payments back to you for the rest of your life. If, say, Patricia is a 70-year-old woman who purchases an immediate annuity for $100,000, she could expect about $700 every month for the rest of her life. That 8.4 percent figure isn’t equivalent to the yield on a bond or interest on a savings account—though you will frequently see them held up as comparisons—because with an annuity, your investment is devoured by your payouts and not available to you for liquidation. The good news about that is, because an annuity returns your principal to you over time, the part of your payout attributable to your initial investment is tax-exempt. (The precise portion you can exclude from your taxable income is determined by Internal Revenue Service actuarial tables and is a calculation your annuity company or financial planner can perform.) The bad news for your heirs is that every dollar you put into an annuity is one dollar less you can pass on to them. Because the math behind immediate annuities is relatively straightforward, the firms that sell them don’t have a lot of wiggle room in their marketing—so it’s easy to read their price tags. Just go to www.immediateannuities.com and enter your age, gender and home state; you can find out how much an initial purchase will return or how much you’ll need to invest to guarantee a particular monthly payment, and you can get fast, free quotes. But as soon as you start shopping for annuities, you’ll realize that they can come with all kinds of bells and whistles attached. Some variations on the basic immediate-life formula can make sense. For instance, guaranteed minimum payouts: You can make sure your heirs receive annuity payments for up to five or 10 years if you expire in that time period, typically at a cost of reducing your payouts by a few dollars a month. This is a decent way of providing guaranteed income for at least a while to a surviving spouse. Another example: inflation-indexed annuities, which start with lower payouts but increase over time to maintain their purchasing power. In our example, Patricia would probably have to accept monthly checks starting at about $550, not $700, to get an annuity with payouts adjusted for inflation. But those payouts would rise with time. At an inflation rate of 4 percent a year, their value would be greater than those from an unadjusted annuity after seven years. If you expect to live a long time and for your expenses to be dominated by inflationary items (such as medical care or property taxes, as opposed to, say, fixed mortgage payments), this can be valuable protection. To get a quote on inflation-indexed annuities, check out Vanguard’s offerings at www.aigretirementgold.com. Other twists aren’t so helpful. With deferred annuities, you put money into an annuity contract but don’t collect payments until years later. With variable annuities, you place your investment into stock and/or bond funds; their performance determines the amount of the payouts you get back; plus, you’re guaranteed a death benefit. These kinds of products became very popular during the last bull market; sales of variable annuities hit a record $184 billion in 2007, according to Limra International, a financial-services consulting firm. Cathy Weatherford, CEO of the Insured Retirement Institute (IRI), says that variable annuities offer tax-deferred growth and exposure to equities. But when you let your annuity investment accumulate over time or subject it to the vagaries of the markets, you’re giving an insurance company the chance to charge you investing commissions, insurance fees and surrender penalties. And the sum total of those costs has often proven to be wildly out of line with the benefits offered. Recent studies suggest that, on the whole, variable annuities may not be wildly overpriced, but their fundamental rationale for existing is so screwed up that it doesn’t really matter. Variable annuities dress up a product designed for safety with juicier investments. These days you can find annuity swaps, equity-indexed annuities, guaranteed minimum withdrawal benefit annuities and IRA rollover annuities, along with “longevity insurance” and managed-payout mutual funds. You’re almost always better off buying an immediate annuity to take care of some retirement expenses (like the cost of long-term-care insurance), dispensing with transaction costs and investing your savings in low-cost diversified mutual funds. Boring? With annuities, that’s supposed to be the point. 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 | 7 Sep 2009 | 10:00 pm Want Growth? Get Ready for the Slow Lane (Pundit Watch)T. S. Eliot dubbed April the cruelest month — but some economists and market-watchers say September will be no picnic either. The early days of the month have already seen the market rally fizzle as many pundits trotted out the conventional wisdom that September is a tough month for stocks. There have been some bright spots as well, but many expect the recovery to be measured in small increments. Stuart Hoffman, chief economist at PNC Financial Services Group, called Friday's job figures a hangover from the recession, which is just about over but will leave us with lingering effects for some time. Though traders focused more on the good news — the slowing pace of job losses — overall national unemployment hit 9.7%, a level not seen since June 1983. "The payroll employment survey continues to show signs of 'improvement' as the net monthly job loss for August totaled 216,000 workers; the smallest monthly job loss in a year, but it is still a significant job loss nonetheless," he wrote on Friday. That's putting the brakes on real recovery, Gluskin Sheff chief economist and strategist David Rosenberg wrote on Friday. "The fact that 65% of companies are still in the process of cutting their staff loads is quite disturbing — even manufacturing employment fell 63,000 in August, to its lowest level since April 1941, despite the inventory replenishment in the automotive sector and all the excitement over the recent" improvement in the ISM manufacturing index, he said. "Until we see signs of a sustained turnaround in the jobs market, all bets are off over the sustainability of any economic recovery." That will keep markets choppy, and investors may do themselves a favor sitting on the sidelines now and then, said J.P. Morgan strategist Thomas Lee. In a Thursday note, he took a look at stock performance data for September and found that September selloffs historically do their worst damage in the early part of the month. "It turns out that if an investor waited until Day 6, the likelihood of realizing positive returns for the month jumps from 44% to 54%. Day 6, as it turns out, is Sept 9," he said. He also said fewer S&P 500 companies have issued negative earnings warnings for the current quarter than any point since 1997, which indicates corporations are at least adjusting to new internal expectations after long periods of cost-cutting. Steven Charest, market strategist at Divine Capital Markets, wrote on Aug. 31 that the recent rally has more technical than fundamental underpinnings, and while it has probably overheated, that could continue into this month. "Long term, the secular bear market appears intact," he wrote. "Sentiment however continues to drive the intermediate-term bear market rally to extended levels. While the market rally is extended, third quarter window dressing provides a strong case for price continuing into overbought territory." It can't continue, but it may not come crashing down all at once, counsels Jeffrey Kleintop, chief market strategist at LPL Financial. "So much of the news of the recovery is now priced into the market that with the S&P 500 hovering around 1025, the continuing run of better-than-forecast data is having only a limited impact," he wrote on Aug. 31. "The market appears to have become saturated with good news and is beginning to show signs of fatigue after rising 52% above the closing low of March 9, 2009." Kleintop’s prediction of a period of market consolidation — similar to the S&P 500's two-month stretch around 900, which ran from mid-May to mid-July — doesn’t anticipate sharp moves but rather sees it as part of a larger process of mental readjustment. That could be a long process, cautioned Pimco bond guru Bill Gross in his September Investment Outlook. The combination of delevering, deglobalization and reregulation "means that if you are a child of the bull market, it’s time to grow up and become a chastened adult; it’s time to recognize that things have changed and that they will continue to change for the next — yes, the next 10 years and maybe even the next 20 years," he wrote. "We are heading into what we call the New Normal, which is a period of time in which economies grow very slowly as opposed to growing like weeds," where profits are relatively static; and where the government plays a significant role in terms of deficits and reregulation and control of the economy. Most importantly, it promises to be a period in which consumer stop shopping until they drop and begin to start saving — a prudent outlook that takes some getting used to. 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 | 7 Sep 2009 | 10:00 pm Pharmacy merger goes aheadThe country's only listed pharmacy group, Life Pharmacy, today went unconditional on its latest acquisition to build a giant retailer in the sector. It is now committed to taking over Pharmacybrands - the nation's largest retail...Source: New Zealand Herald - Business | 7 Sep 2009 | 9:00 pm House sales jumped in August - reportReal estate agent Ray White Ltd has reported its August sales were almost 50 per cent higher than for the same period last year. Ray White NZ chief executive Carey Smith said there was a 47 per cent improvement on August, 2008,...Source: New Zealand Herald - Business | 7 Sep 2009 | 9:00 pm KiwiSaver front-door sales spark complaintsThe Securities Commission is investigating complaints about KiwiSaver salespeople after a number of residents contacted the Inland Revenue about being pressured into the scheme at home. It is against the law to sell investments...Source: New Zealand Herald - Business | 7 Sep 2009 | 8:30 pm Mexico to enjoy $8bn windfall from oil betMexico is set to earn a record $8bn windfall from financial contracts it bought last summer as insurance against weaker energy demand and lower oil prices this year,Source: Financial Times - US homepage | 7 Sep 2009 | 8:29 pm Holiday law complicated and confusing, says surveyMost employers appear to find aspects of the Holidays Act unworkable and are not complying with all of it, a survey found. The Employers and Manufacturers Association (Northern) said the survey showed the law was complicated and...Source: New Zealand Herald - Business | 7 Sep 2009 | 8:00 pm Commercial building trumps residential for first time in 20 yearsThe value of nationwide residential building work in the June quarter was lower than the value of non-residential building work for the first time since Statistics New Zealand began collecting figures in 1989, Statistics NZ said today. House...Source: New Zealand Herald - Business | 7 Sep 2009 | 7:30 pm Freightways into NZX 15 indexFreightways Ltd will join the NZX 15 Index from September 21, replacing Fisher & Paykel Appliances Holdings Ltd. Companies eligible to be included in the NZX 15 are ranked by six-month average free-float market capitalisation,...Source: New Zealand Herald - Business | 7 Sep 2009 | 7:30 pm Whitbread reins in expenses and cuts costs to ride out storm’s worstThe chief executive of Whitbread, the Premier Inn and Costa coffee shop operator, damped down talk of economic recovery yesterday, insisting he had yet to see any “substantive signs of improvement”. Source: Latest Business News from Times Online | 7 Sep 2009 | 6:00 pm Tory wants new BBC boss to earn no more than the Prime MinisterMark Thompson’s successor as Director-General of the BBC should be paid no more than the Prime Minister, a Conservative frontbencher has said. Source: Latest Business News from Times Online | 7 Sep 2009 | 6:00 pm Jaguar, Aston, Rolls - What's their future?It used to be simple: Racing-green cars were British, red cars were Italian. Now Tata owns Jag, and Volvo is being shopped to the Chinese.Source: Business and financial news - CNNMoney.com | 7 Sep 2009 | 4:01 pm 7 eager homebuyers and $8,000 tax creditThe Lees stepped up their house-hunting to take advantage of the first-time buyer tax credit before it expires. What they - and 6 others - found.Source: Business and financial news - CNNMoney.com | 7 Sep 2009 | 3:52 pm Tax expensive health plans - SenatorA proposed health care compromise by the powerful chairman of the Senate Finance Committee lacks a government-run insurance option and would tax the most expensive health insurance plans, a source close to the discussions told CNN Monday.Source: Business and financial news - CNNMoney.com | 7 Sep 2009 | 3:51 pm Bankers the big winners in Kraft's tilt for CadburyBankers brokers and other advisers to Kraft and Cadbury stand to collect hundreds of millions of pounds in fees if the food giants agree a deal according to seasoned City investment bankers.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 7 Sep 2009 | 3:15 pm Analysis: Cadbury's vision spurs Kraft into actionCadbury's board has rejected Kraft's £10.2bn approach out of hand saying it "fundamentally undervalues" the chocolate maker.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 7 Sep 2009 | 3:13 pm Cadbury's chief Todd Stitzer may collect £6m from sharesTodd Stitzer the chief executive of Cadbury would collect £5.89m in cash and shares for his 0.06pc stake if the Kraft Foods bid is accepted.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 7 Sep 2009 | 3:10 pm Japan sticks to greenhouse gas targetYukio Hatoyama, Japan’s incoming prime minister has vowed to stick by his manifesto goal of slashing emissions by 2020Source: Financial Times - US homepage | 7 Sep 2009 | 3:06 pm Kraft's £10.2bn approach could start battle for CadburyLeading shareholders in Cadbury have comprehensively rejected Kraft's £10.2bn proposed bid for the confectionery company.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 7 Sep 2009 | 2:48 pm Obama pressed to stand by health pledgeLeading US trade unions launched a week of public rallies urging to pressure Barack Obama to stand by his campaign pledge to include a controversial government insurance option in his signature healthcare reform effortSource: Financial Times - US homepage | 7 Sep 2009 | 2:32 pm France to oppose Google book schemeGoogle’s ambitious plans to scan millions of books and make them readable through its search engine suffered another blow after France said it would formally oppose the US settlement that Google needs to circumvent complex copyright issuesSource: Financial Times - US homepage | 7 Sep 2009 | 12:43 pm Fannie and Freddie one year laterJeremy Hobson takes a look back at the government takeover of mortgage giants Fannie Mae and Freddie Mac, a year ago today.Source: Marketplace | 7 Sep 2009 | 12:22 pm America's dirty workHost Tess Vigeland talks to Mike Rowe, creator of the Discovery Channel's "Dirty Jobs" and the Web site "Mike Rowe Works." Both are dedicated to blue-collar workers.Source: Marketplace | 7 Sep 2009 | 12:22 pm Kraft vying for British candy CadburyDespite the dire financial climate, Kraft is offering to buy British candy giant Cadbury for $16 billion. How can Kraft afford it? Stacey Vanek-Smith reports.Source: Marketplace | 7 Sep 2009 | 12:20 pm Lula embraces old foes ahead of raceLuiz Inácio Lula da Silva, Brazil’s president, has been keeping some strange company of lateSource: Financial Times - US homepage | 7 Sep 2009 | 11:02 am FTSE shares close up after Cadbury bid (AFP)
Source: Yahoo! News: Stock Markets News | 7 Sep 2009 | 10:13 am Why we love or hate our workAlain De Botton, author of "The Pleasures and Sorrows of Work," talks with Tess Vigeland about our modern relationship with work and how occupations help shape our identities.Source: Marketplace | 7 Sep 2009 | 9:57 am It's a recession baby!Recessions can wreak havoc in people's lives. But some couples have decided to take the extra time the recession has given them to focus on their family. Tamara Keith reports.Source: Marketplace | 7 Sep 2009 | 9:49 am Employers use recession to cut workersThe recession is providing a great cover for employers who have been looking to get rid of employees. Sally Herships reports on why some workers are getting the ax under the guise of a bad economy.Source: Marketplace | 7 Sep 2009 | 9:42 am Global stocks up on G20 stimulus (Reuters)
Source: Yahoo! News: Stock Markets News | 7 Sep 2009 | 8:56 am Facebook Chronicles: Consulting the Files
When I was a kid I was amazed every time I went to the dentist and they remembered stuff about me. Not only did they know my name, but they knew what school I went to and the books I liked to read. They knew what sports I played and what my favorite shows were on TV. They remembered everything about me! And they were so nice. My amazement lasted until someone told me that they kept information in the files and read it just before people came in for their appointments. That’s good business. Can’t we do the same thing with Facebook? I’m busy, and I come in contact with a lot of people. One of my favorite new ways to use Facebook is to do a quick search for an acquaintance I’m expecting to see. In just a couple of minutes I can acquaint, or reacquaint myself with things that are important to this person. I brush up on things like their kids names and check their profiles for information that will help me ask about mutual friends and interests. Facebook has helped me learn names because the names and the faces are in front of me so much more often than they would be in ‘real’ life. Using it as my own personal files takes this tool a step further. How are you using Facebook for business? Image Credit: net_efeckt, Flickr
Source: Business Pundit | 7 Sep 2009 | 6:09 am Why Google and Apple Win, and You Don’t
Source: Business Pundit | 7 Sep 2009 | 5:54 am Labor Sec'y Solis concedes job situation not good (AP)
Source: Yahoo! News: Stock Markets News | 7 Sep 2009 | 5:16 am
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