FTSE roars ahead on oil

The FTSE 100 continued to edge higher today as optimism of an economic recovery proved strong enough to counteract worse-than-expected retail sales data for August.


Source: Latest Business News from Times Online | 17 Sep 2009 | 4:58 am

Stocks poised for modest gains at open (AP)

AP - Stock futures are rising modestly as investors look to continue the market's latest leg of the rally.

Source: Yahoo! News: Stock Markets News | 17 Sep 2009 | 4:37 am

Bank charges: how to reclaim your money

The Telegraph's guide to reclaiming your money which includes template letters you can download customise and send to your current account provider.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Sep 2009 | 4:36 am

Swiss bankers log record profit fall in 2008

Profits of Swiss banks plunged a record 30 percent in 2008, hurt by major losses in the trading business, the Swiss Bankers Association said on Thursday. "The profits of the banks in...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:32 am

Japan's new govt to review airline turnaround plan

Japan's new government said on Thursday that it would overhaul the restructuring process for Japan Airlines, which is seeking state financial aid, but ruled out allowing it to collapse. ...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:27 am

Global stock markets jump on recovery optimism

World stock markets rallied on Thursday, with London striking the highest level so far this year, as investors grew more optimistic about the prospects for a global economic recovery. ...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:21 am

Ireland details bank plan; bank stocks surge

Shares in Allied Irish Banks and Bank of Ireland surge Thursday after the Irish government reveals more details of its plan to buy up billions of euros of risky property loans.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 4:19 am

Global stock markets jump on recovery optimism (AFP)

AFP - World stock markets rallied on Thursday, with London striking the highest level so far this year, as investors grew more optimistic about the prospects for a global economic recovery.

Source: Yahoo! News: Stock Markets News | 17 Sep 2009 | 4:17 am

Oracle sales stumble 7%

Oracle shares fell sharply in after-hours trading Wednesday after the database software maker reported quarterly sales that missed Wall Street forecasts.
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 4:16 am

Indications: U.S. stock futures lean higher as rally continues

U.S. stock futures lean higher Thursday, and the dollar falls to fresh lows as optimism over a global economic recovery continues even as software giant Oracle reports declining revenue.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 4:13 am

New health care plan and your wallet

The health reform debate is still far from the finish line, but Wednesday brought an important milestone: A key senator's highly-anticipated proposal echoing many of the reforms that President Obama is calling for.
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 4:12 am

Asia markets at new highs for year; Europe gains (AP)

AP - Asian stock markets climbed to new highs for the year Thursday after strong U.S. industrial production data boosted confidence the world's largest economy is growing again. European shares were higher.

Source: Yahoo! News: Stock Markets News | 17 Sep 2009 | 4:06 am

Stocks poised for wary start

U.S. stock futures drifted higher Thursday, as investors remained cautious after the recent runup.
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 4:04 am

Geely discussed Opel stake with Magna: source (Reuters)

Reuters - China's Geely Automobile has approached Magna International about joining the Canadian auto part maker's bid for Opel, a source familiar with the matter said, as China chases Western brands and the technology it needs to drive future growth.

Source: Yahoo! News: Business | 17 Sep 2009 | 4:04 am

Geely discussed Opel stake with Magna: source

SHANGHAI/NEW YORK (Reuters) - China's Geely Automobile has approached Magna International about joining the Canadian auto part maker's bid for Opel, a source familiar with the matter said, as China chases Western brands and the technology it needs to drive future growth.
Source: Reuters: Business News | 17 Sep 2009 | 4:04 am

Geely discussed Opel stake with Magna: source

SHANGHAI/NEW YORK (Reuters) - China's Geely Automobile has approached Magna International about joining the Canadian auto part maker's bid for Opel, a source familiar with the matter said,...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:04 am

Michigan Diversity Council (MIDC) Hosts 'Women on the Move: Leading Change in Michigan' in Partnership with Metro Detroit Firms Daimler Financial Services and Butzel Long and Wayne State University

Susan L. Taylor, Editor Emerita, Essence Magazine, and Marcy McGinnis, former Senior Vice President, CBS News Coverage, head an all-star lineup of executive speakers at Troy Marriott...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:00 am

Securities, Employment, and Commodities Law Firm Opens San Francisco Office

Singer Deutsch LLP adds third city to nation-wide practice NEW YORK, Sept. 17 /PRNewswire/ -- The law firm of Singer Deutsch LLP announced today that it has opened a new...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:00 am

Inaugural Korn/Ferry 'Confidence in Leadership Index' Reveals Stability Despite Economic Turbulence

Regional Differences Emerge in Global Leadership Study - North America Demonstrates Most Positive Attitudes Towards Corporate Leadership; Europe Shows Most Skepticism LOS...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:00 am

Saxo Bank Opens Amsterdam Office

AMSTERDAM, September 17 /PRNewswire/ -- Saxo Bank, the online trading and investment specialist, launches its new Dutch office today. The Dutch office is the fourth new...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 4:00 am

Japan central bank eyes recovery

The Bank of Japan expresses a more upbeat outlook on the future of the world's second largest economy.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:59 am

Twitter, Skype, And The Trouble With Free Internet Services

Twitter has just raised capital at price that values the company at about $1 billion. A collection of private investors have agreed to buy two-thirds of Skype from eBay (EBAY), a process complicated by a patent suit by Skype’s founders. Even with the threat of that suit, eBay managed to fetch nearly $2 billion for [...]

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Source: 24/7 Wall St. | 17 Sep 2009 | 3:57 am

Oil hovers near $72.50 after 5 percent rise (Reuters)

Reuters - Oil prices hovered around $72.50 a barrel on Thursday after rising more than 5 percent this week as swollen U.S. distillate stocks such as diesel offset positive sentiment in other markets.

Source: Yahoo! News: Business | 17 Sep 2009 | 3:55 am

Oil hovers near $72.50 after 5 percent rise

LONDON (Reuters) - Oil prices hovered around $72.50 a barrel on Thursday after rising more than 5 percent this week as swollen U.S. distillate stocks such as diesel offset positive sentiment in other markets.
Source: Reuters: Business News | 17 Sep 2009 | 3:55 am

Growth in UK retail sales stalls

Retail sales growth stalls, casting doubt on the recovery in consumer spending, as John Lewis profits fall 20%.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:54 am

Bid talk helps London extend highs

The strong run on London equities markets continued on Thursday, as lingering bid speculation offered the latest sign that the FTSE 100's summer rally could continue into autumn. The benchmark index rose...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 3:44 am

Oil Prices Stubbornly Above $72

Many economists and energy forecast firms argue that oil supply will be abundant in 2010 and demand will be modest. That does not seem to matter to oil traders. The falling value of the US dollar and an American Petroleum Institute report about American supplies seems to be enough to hold crude prices high and increase the [...]

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Source: 24/7 Wall St. | 17 Sep 2009 | 3:41 am

Emerging market recovery to be weak: World Bank

LONDON (Reuters) - The recovery in emerging markets is likely to be weak and growth will remain limited, a senior World Bank official said on Thursday.
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 3:39 am

Emerging market recovery to be weak: World Bank (Reuters)

Reuters - The recovery in emerging markets is likely to be weak and growth will remain limited, a senior World Bank official said on Thursday.
Source: Yahoo! News: Business | 17 Sep 2009 | 3:39 am

Emerging market recovery to be weak: World Bank

LONDON (Reuters) - The recovery in emerging markets is likely to be weak and growth will remain limited, a senior World Bank official said on Thursday.
Source: Reuters: Business News | 17 Sep 2009 | 3:39 am

Aeroflot plans to cut 2,000 jobs

Russian airline Aeroflot says it is ready to "thin" its workforce after profits plunge amid fewer passengers and higher fuel costs.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:36 am

Loading up on junk bonds

Question: I'm 63 and planning to retire in three years. I'm considering investing in high-yield bond funds because they generate good income. Do you think I should do this and, if so, what percentage of my portfolio allocation should I devote to high-yield funds? --Frank, Groveport, Ohio
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 3:35 am

Jumping off the page: Video adverts hit paper magazines

The first ever video advertisement is published in a traditional paper magazine, Entertainment Weekly.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:35 am

Emerging Markets Report: Venezuela and China agree $16 billion oil deal

Venezuela’s President Hugo Chavez announces that China will invest $16 billion in an oil exploration project in the nation's Orinoco River region.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 3:34 am

Oracle software sales miss target

BOSTON/SAN FRANCISCO (Reuters) - Oracle Corp's quarterly software sales came in sharply below expectations, dashing hopes that corporate technology spending is rebounding and sending its shares down 2.7 percent.
Source: Reuters: Business News | 17 Sep 2009 | 3:33 am

Oracle software sales miss target (Reuters)

Reuters - Oracle Corp's quarterly software sales came in sharply below expectations, dashing hopes that corporate technology spending is rebounding and sending its shares down 2.7 percent.

Source: Yahoo! News: Business | 17 Sep 2009 | 3:33 am

John Lewis profits dive 50% and predicts tough 2010

The John Lewis Partnership, owner of the department store chain and the supermarket group, Waitrose, today reported a 20 per cent slump in pre-tax profits for the first six months of its financial year.


Source: Latest Business News from Times Online | 17 Sep 2009 | 3:30 am

Valley rally?

Hi-tech start-up firms report a revival
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:27 am

US to shelve European missile shield

The Obama administration is set to announce that it will drop the Bush-era plans to build a missile defence system in Poland and the Czech Republic
Source: Financial Times - US homepage | 17 Sep 2009 | 3:18 am

Double-Digit Unemployment As Far As The Eye Can See

The recent report on global unemployment from the OECD predicted that developed country joblessness will reach post WW-II highs soon and will not improve much  over the next two years. Now, Noble Prize winner Paul Krugman has predicted that US unemployment will not peak until 2011. Speaking in Slovenia, Krugman said, “(U.S.) unemployment will peak in [...]

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Source: 24/7 Wall St. | 17 Sep 2009 | 3:16 am

Steady view on future inflation

Householders are expecting the rate of inflation remain steady in the coming year, a Bank of England poll finds.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:15 am

UK gas climbs on US, oil rallies; power soft

LONDON, Sept 17 (Reuters) - British gas prices firmed early on Thursday following a strong rally in the U.S. natural gas market overnight and firm oil prices, while prompt power prices eased on solid supply...
Source: RSS feed - channel BNewsBusiness | 17 Sep 2009 | 3:13 am

Postal workers to vote on strike

Ballot papers for a national strike at Royal Mail over pay and job cuts are being sent to members of the main postal union.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:11 am

dot.life

Reporting live from Africa - easier than parts of the USA
Source: BBC News | Business | World Edition | 17 Sep 2009 | 3:05 am

Waitrose sales support struggling John Lewis

John Lewis Partnership on Thursday joined other UK high street retailers in offering a cautious outlook for the coming months, even as the department store and supermarket chain admitted the business was...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 3:03 am

Toyota (TM) To Spend $1 Billion To Get Back US Momentum

When the history of the US car market over the last decade is written, it will be a story of the rise of  Toyota (TM) and the demise of the Big Three, especially Chrysler. Toyota has used its low manufacturing costs and obsession with quality to steal market share from the American car companies and hold off [...]

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Source: 24/7 Wall St. | 17 Sep 2009 | 3:03 am

Concerns raised over new Japan ministers

As the new Japanese government begins its first full day in power, analysts are already pointing out missteps and warning of possible pitfalls among the just-appointed Cabinet members.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 3:03 am

Murdoch and Berlusconi in ad spat

Rupert Murdoch's News Corp is suing two units of Silvio Berlusconi's Italian broadcaster Mediaset.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 2:55 am

What you need to know about Social Security

You've probably spent a lot of time sweating over your 401(k) and IRA. But have you given much thought to the way Social Security will fit into your retirement plans?
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 2:54 am

Balfour in talks over 350m rights issue

Balfour Beatty, the infrastructure and contracting group, is in advanced talks regarding a "significant" acquisition to be funded primarily through a rights issue, the company said in response to media...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 2:49 am

London Markets: British shares on track for stellar quarter

London’s FTSE 100 index looks likely to build on stellar gains made so far this quarter, with banks and commodity-sector firms again helping the advance.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 2:49 am

Stock futures point to slightly higher open (Reuters)

Reuters - Stock futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 1.7 percent, Dow Jones industrial average 0.1 percent higher and Nasdaq up 0.1 percent, at 4:30 a.m. EDT.

Source: Yahoo! News: Business | 17 Sep 2009 | 2:48 am

Stock futures point to slightly higher open

(Reuters) - Stock futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 1.7 percent, Dow Jones industrial average 0.1 percent higher and Nasdaq up 0.1 percent, at 4:30 a.m. EDT.
Source: Reuters: Business News | 17 Sep 2009 | 2:48 am

Stock futures point to slightly higher open (Reuters)

Reuters - Stock futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 1.7 percent, Dow Jones industrial average 0.1 percent higher and Nasdaq up 0.1 percent, at 4:30 a.m. EDT.

Source: Yahoo! News: Stock Markets News | 17 Sep 2009 | 2:48 am

Less pay + longer hours = sour workplace

You don't have to get laid off to feel the pain of this recession. Many workers lucky enough to have survived the ax are still feeling unhappy and unmotivated at work.
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 2:46 am

DIY enthusiasts boost Kingfisher sales

Kingfisher, the international DIY group, said on Thursday that first-half profits rose by a third as tighter control of costs and stock aided its B&Q chain in the UK and Ireland.However, underlying...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 2:43 am

European business chief condemns Germany on Opel

Plan to sweeten sale of GM’s European arm to Canadian-led consortium with billions of euros in subsidies is ‘dangerous’, says employers’ federation president
Source: Financial Times - US homepage | 17 Sep 2009 | 2:40 am

Dollar weakens as commodity currencies shine

The dollar continued to weaken on Thursday, losing out to currencies seen as better positioned to benefit from a swift and sustained global economic rebound. Major metals exporters benefited from sustained...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 2:39 am

BOJ upgrades view on economy, keeps rates on hold

TOKYO (Reuters) - The Bank of Japan said it was slightly more optimistic about economic and financial conditions on Thursday, likely bringing it a step closer toward phasing out some of its measures to support corporate funding.
Source: Reuters: Business News | 17 Sep 2009 | 2:36 am

Mortgage rationing 'likely to continue'

The mortgage market is unlikely to improve significantly in the short term despite wholesale funding costs falling to a record low commentators have said.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Sep 2009 | 2:28 am

Saad Group owner cuts stake in Samba

Riyadh, Sept 17 - Maan al-Sanea, the owner of Saudi-based private conglomerate Saad Group, reduced his stake in Samba Financial Group by at least 2.8 percentage points on Wednesday, stock exchange data...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 2:22 am

Bank of Japan sees 'signs of recovery'

The Bank of Japan's policy board slightly upgrades its economic view for the first time since July, as it keeps its interest rate target unchanged.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 2:14 am

EU leaders to meet to debate bankers' bonuses

European Union leaders meeting later today ahead of the G20 Summit will debate whether banks should be allowed to pay excessive bonuses.


Source: Latest Business News from Times Online | 17 Sep 2009 | 2:12 am

Japan keeps interest rates on hold

Read full story for latest details.
Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 2:11 am

Now is best time to buy a home say six in 10

More than half of the population think it is a good time to buy a property as the housing market continues to show signs of stabilising research shows.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Sep 2009 | 2:11 am

Media Digest 9/17/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The competition to dominate the green car market is increasing. Reuters:   Obama will pressure the G20 on Wall St. reform. Reuters:   Oracle (ORCL) earnings missed targets. Reuters:   Opel’s sales shows power is shifting to car suppliers Reuters:   Skype’s founders sued eBay (EBAY) over patent infringement. Reuters:   Twitter raised money at a $1 billion valuation. Reuters:   Cuomo subpoenaed five Bank of [...]

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Source: 24/7 Wall St. | 17 Sep 2009 | 2:04 am

London stocks climb (AFP)

AFP - Stocks in London were upbeat at the start of trade on Thursday as investors appeared more confident about the corporate sector.

Source: Yahoo! News: Stock Markets News | 17 Sep 2009 | 1:56 am

Kingfisher claims 'DIY is cool' as profits surge

Britons are spending more time in their homes and gardens because of the recession, Kingfisher, the owner of B&Q, said today as it unveiled a 35 per cent leap in profits.


Source: Latest Business News from Times Online | 17 Sep 2009 | 1:52 am

B&Q profits from increase in DIY

B&Q owner Kingfisher sees its half-year profits rise by more than a third, saying it was benefiting from a renewed interest in DIY.
Source: BBC News | Business | World Edition | 17 Sep 2009 | 1:52 am

Europe Markets: European shares climb again in broad-based advance

European shares rose for third straight session and the tenth time in eleven days, with stocks that stand to benefit the most from an improving economic backdrop leading a broad-based advance.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 1:52 am

Skype founders sue over eBay deal

Source: Business and financial news - CNNMoney.com | 17 Sep 2009 | 1:50 am

Retailer Kingfisher's first-half profits jump (AFP)

AFP - Kingfisher, the biggest home-improvements retailer in Europe, said on Thursday its first-half net profits leapt more than a third due to improved trading at B&Q and cost-cutting.

Source: Yahoo! News: Business | 17 Sep 2009 | 1:42 am

John Lewis says 2009 is proving better than feared despite a slide in profits

Department store retailer said that business this year has proved much stronger than expected despite a slide in firsthalf profits.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Sep 2009 | 1:39 am

Temasek gains $30bn from market rally

The global market rally had added S$42bn (US$29.7bn) to the market value of Temasek's investment portfolio since the end of March, Singapore's state investment company said on Thursday.The mark-to-market...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 1:33 am

Asia Markets And Europe Open 9/17/2009

Markets in Asia were sharply higher. The Nikkei rose 1.7% to 10,444. The Hang Seng was up 2.4% to 21,918. The Shanghai Composite rose 2% to 3,060. At the open in Europe, The FTSE rose .7% to 5,162. The Dax was up .6% to 5,737. SAP (SAP ) fell after Oracle’s (ORCL) earnings. The CAC 40 rose .6% to [...]

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Source: 24/7 Wall St. | 17 Sep 2009 | 1:30 am

TechCrunch50 conference: Fewer toys, more tools

This year, start-ups that drew the most attention offered pragmatic solutions such as tracking expenses, helping parents customize storytelling and taking the Yellow Pages to the next step. ...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 1:00 am

Former Interior Secretary Gale Norton is focus of corruption probe

The Justice Department investigation centers on a 2006 decision to award oil shale leases in Colorado to a Royal Dutch Shell subsidiary. Months later, the oil giant hired Norton as a legal counsel.

The Justice Department is investigating whether former Interior Secretary Gale A. Norton illegally used her position to benefit Royal Dutch Shell PLC, the company that later hired her, according to officials in federal law enforcement and the Interior Department.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Northrop chief Ronald Sugar to step down

The CEO and chairman will leave his posts by the end of the year. He'll be replaced by Wesley G. Bush, the defense contractor's president and chief operating officer.

Surprising industry observers, Northrop Grumman Corp. Chairman and Chief Executive Ronald D. Sugar said he was stepping down following a six-year tenure in which he was credited with helping turn the Century City company into one of the world's largest defense contractors.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

TechCrunch50 conference: Fewer toys, more tools

This year, start-ups that drew the most attention offered pragmatic solutions such as tracking expenses, helping parents customize storytelling and taking the Yellow Pages to the next step.

Never mind the pie-in-the-sky business plans. Forget about the ambitions to change the world. It was all about financial discipline and making money at a conference for start-ups in San Francisco this week.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Financial-crisis commission's challenge: staying bipartisan

The federal panel probing the origins of the crisis skews Democratic. Leaders Phil Angelides and Bill Thomas are known as aggressive partisans. But the issue is 'bigger than party,' Angelides says. ...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 1:00 am

Global poor to increase by 89 million by end of 2010, World Bank says

Low-income countries are still reeling from the effects of a world financial crisis created by their wealthier counterparts, the bank says in a paper prepared for next week's G-20 meeting. ...
Source: RSS feed - channel BNPaperBusiness | 17 Sep 2009 | 1:00 am

Oracle's 1st-quarter profit rises 4% despite sales decline

EARNINGS

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Investors are thrilled yet anxious about stock market rally

People still smarting from last year's devastation in their mutual funds and 401(k) accounts worry that the almost relentless advance could give way to another free fall.

Dania Leon's portfolio has surged 55% during the stock market's booming rally over the six last months -- and she couldn't be more nervous.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Interest in algae's oil prospects is growing

Firms and scientists are racing to figure out how best to separate the oil produced in the organisms for biofuel. The San Diego area has become a hotbed for these efforts that are drawing investors.

To many, algae is little more than pond scum, a nuisance to swimmers and a frustration to boaters.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

U.S. Census Bureau data on the medically uninsured simply can't be denied

The report, which says 46.3 million people lacked coverage as of the end of 2008, makes the case for reform stronger than ever by punching holes in arguments that minimize the plight of the uninsured.

Pity the medically uninsured in America. As if they don't already have enough to worry about, now they've become a political football.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Factory output rises a 2nd month in a row, a further sign of expansion

The nation's factories have boosted their output for two straight months, providing the latest evidence that an economic expansion is probably underway.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Financial-crisis commission's challenge: staying bipartisan

The federal panel probing the origins of the crisis skews Democratic. Leaders Phil Angelides and Bill Thomas are known as aggressive partisans. But the issue is 'bigger than party,' Angelides says.

A special commission to determine the causes of the financial crisis is trying to pattern itself after the bipartisan panel that investigated the 2001 terrorist attacks -- but some Republicans say the deck already is stacked against them.

Source: L.A. Times - Business | 17 Sep 2009 | 1:00 am

Metals Stocks: Gold taps 18-month high atop $1,025

Gold futures rally in electronic trading on Globex, with analysts’ bleak outlook for the U.S. dollar helping the precious metal climb past $1,025 an ounce to an 18-month high.

Source: MarketWatch.com - Top Stories | 17 Sep 2009 | 12:55 am

Warren Buffett's favourite suits sends Trands shares soaring

For years Western investors have scrutinised Warren Buffett’s investment strategy in the tiniest of detail, always on the lookout for the golden clue that might make them billionaires too.


Source: Latest Business News from Times Online | 17 Sep 2009 | 12:36 am

Balfour Beatty prepares rights issue to fund acquisition

Engineering and construction group Balfour Beatty is readying a surprise rights issue of as much as £350m.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 17 Sep 2009 | 12:32 am

NZ sharemarket posts solid gains

The New Zealand sharemarket posted solid gains today, reflecting the ongoing rally in global equity markets.In the US, stocks rose for a third day, hitting fresh 2009 highs in a broad-based rally following economic data that suggested...
Source: nzherald.co.nz - Business | 17 Sep 2009 | 12:25 am

Rising NZ dollar leads world

The New Zealand dollar is leading the world, powering to a 13-month high against the greenback and a 12-1/2-year high against the British pound.By 5pm today the NZ dollar was buying US71.35c from US70.57c at the same time yesterday....
Source: nzherald.co.nz - Business | 16 Sep 2009 | 11:41 pm

Labour, Nats should restart ETS talks: Dunne

Labour and National should put aside their egos and restart talks on an emissions trading scheme, United Future leader Peter Dunne said today.Talks between the two major parties on an ETS collapsed this week when National announced...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 11:29 pm

Lehman collapse: Sarkozy may be a winner from the crisis but what about France?

A year after the economic crisis struck France is still haunted by the bugbears of unemployment and debt but two winners have emerged from the global maelstrom: the French president and a model - not his wife the French social one.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Sep 2009 | 11:20 pm

Toyota plans $1 billion U.S. marketing blitz: WSJ

Toyota has a $1 billion marketing campaign in the works aimed at boosting U.S. sales in the fourth quarter, The Wall Street Journal reports.

Source: MarketWatch.com - Top Stories | 16 Sep 2009 | 11:20 pm

Skype founders file suit against eBay: WSJ

A company established by the founders of Skype has filed a copyright suit against eBay and a group of investors planning to buy the Internet telephone service, according to a Wall Street Journal report.

Source: MarketWatch.com - Top Stories | 16 Sep 2009 | 10:59 pm

Venezuela says signs $16bn China oil deal

President Hugo Chavez said Venezuela signed a $16bn investment deal with China over three years to raise oil output by several hundred thousand barrels per day in the Orinoco belt
Source: Financial Times - US homepage | 16 Sep 2009 | 10:46 pm

Dubai World says suing ex-CEO of unit for fraud

DUBAI (Reuters) - Dubai World, a Dubai government holding company, filed a lawsuit in the United States this week against the former head of a subsidiary it accuses of fraud costing the United Arab Emirates firm millions of dollars.
Source: Reuters: Business News | 16 Sep 2009 | 10:35 pm

3 Stocks That Have Tripled This Year (Screens)

Suppose you look at some basic numbers on a stock and find plenty of promising signs. Sales and profits are growing quickly and the company’s managers earn an excellent return on the capital they invest. The stock’s valuation is a touch higher than you’d like, but still reasonable considering the company’s growth potential. You like everything you see—until you realize that the stock price has more than doubled since January.

Which should you do?

1) Disregard the stock, since you already missed out on the big gains.
2) Favor the stock even more, since it has plenty of momentum.
3) Keep the stock in mind, but wait for a pullback.
4) The answer depends on the type of stock, and the state of the broad market.

No. 3 might sound like the best choice, but the evidence says No. 2 is better. Personally, I’d keep No. 4 in mind, too.

A landmark study on momentum investing published in 1993 showed that stocks that have recently soared tend to continue beating the market. A follow-up study nearly a decade later documented something called long-term reversals; a basket of stocks with stellar recent returns indeed tends to continue outperforming, but only for a few years, after which it tends to lag. Finally, a 2004 study pointed to a stock’s closeness to its 52-week-high price as being a better gauge of momentum than past-year performance. A stock that’s up 80% over the past year might have initially climbed 120% and then backed off, suggesting the momentum has cooled. A stock that’s hitting new highs is still hot. Perhaps for that reason, the study found that a basket of stocks hitting new highs tends to keep outperforming for longer—more than five years.

So recent, impressive gains are a good sign, even if you missed out on them. But don’t just chase highfliers. Plenty of signs matter more than momentum, like valuation. Also, the type of company matters. A few stocks are up big this year because of impressive growth. Many top gainers, though, are companies that recently approached financial collapse only to narrowly escape—for now. Those can’t quite be called momentum stocks. Finally, while pundits love to argue over whether growth stocks beat value stocks and vice versa, it mostly depends on the market. Popular growth stocks usually outperform in a rising market, and value stocks tend to win in down markets (the past year being a notable exception). If you suspect the market is headed for a tumble, stay away from stocks that have recently soared.

Below are three stocks that have more than doubled in price this year, but which still seem reasonably priced.

Western Digital

YTD price gain: 218%
Forward P/E: 11

Hard-drive maker Western Digital (WDC) sells for more than $36 a share today, up from less than $12 at the end of last year. If that sounds worrisome, consider a few things that should give investors comfort. Hard-drive inventories look lean at the moment, and while prices have fallen over the past year, Western Digital in its most recent quarter shipped 14% more drives than a year earlier. The company sits on net cash equal to 16% of its stock market value, and generates close to 10% of its value in free cash each year. And shares, even after their run, sell for less than 11 times earnings, a discount of some 40% to the broad market.

RF Micro Devices

YTD price gain: 630%
Forward P/E: 18

Having cut costs and trimmed underperforming units over the past year, RF Micro (RFMD) today is financially stable and focused on its core business: making the tiny radios that cellphones use to carry calls and fetch data. The company might be on the verge of a profit jump. The rise of 3G (third-generation) phones has brought not just a change in radios but demand for more of them. A typical “smart” phone, for example, is designed to be backward-compatible with 2G technology, to operate on several frequency bands and to handle Wi-Fi and Bluetooth signals. As all phones gradually become smart phones, RF is positioned to profit, and to diversify its revenue mix away from handset maker Nokia (NOK), which in the past has contributed more than half of the company’s sales.

Cott 

YTD price gain: 501%
Forward P/E: 13

I can’t quite understand how a liter of water can come to sell for twice as much as two liters of carbonated water mixed with sugar, flavoring and dye. Whatever the reason, soda doesn’t seem to carry much pricing power. And yet, Coca-Cola (KO) manages to turn more than a quarter of each sales dollar into operating profit. Toronto-based soda maker Cott (COT) is nowhere near as successful, but it’s improving after a long slump. By reducing costs the company returned to profitability this year, and operating margin recently jumped from 3% to 9%. Cott makes RC Cola, having bought the brand in 2001, but mostly it makes private-label soda for stores. Management has far exceeded Wall Street’s earnings forecasts of late. If the operational momentum continues, expect the stock to follow. Relative to company sales, Cott shares are still discounted to Coke by more than 90%.

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 | 16 Sep 2009 | 10:00 pm

Treating New Hires as Independent Contractors (The Tax Guy)

Cost savings are on top of any business owner’s mind these days. And even if the business is doing so well that you need to expand your staff, you may be terrified of all the obligations that go along with hiring a full-time employee. I don’t blame you.

One solution: Hire an independent contractor.

Unfortunately, the government hates the idea of independent contractors and the IRS has been skirmishing with taxpayers for decades about the so-called worker classification issue. Here’s what you need to know to avoid problems.

Why worker classification matters

When a worker is classified as a “common law employee,” your business generally must withhold federal income tax (FIT) and the employee’s half of Social Security and Medicare taxes from the worker’s wages. Your business must also pay the employer’s half of Social Security and Medicare taxes, pay federal unemployment tax (FUTA), file federal payroll tax returns, and follow tons of burdensome IRS and Department of Labor (DOL) rules. You may also get socked with state and local unemployment and worker compensation taxes and have to comply with even more rules and regulations. Dealing with all this stuff can cost thousands and thousands of extra dollars per year for each employee. Not good.

To determine who is considered a common law employee, various statutes, regulations and court decisions come into play -- and IRS and DOL rules can differ from state and local rules. That said, if you’re allowed to treat a worker as an independent contractor under IRS rules, you’ll generally be in good shape across the board. So I’ll mainly talk about IRS rules here.

With an independent contractor, you don’t have to worry about employment tax issues and you don’t have to provide expensive fringe benefits like medical insurance (a hot-button issue these days), retirement plans, paid vacations and so on. If you pay $600 or more to an independent contractor during the year, you must issue a Form 1099-MISC to report what you paid. That’s generally about the extent of your bureaucratic responsibilities.

Here’s the rub: If you treat a person who is actually a common law employee as an independent contractor, your company could be assessed big bucks for unpaid taxes plus interest and penalties. You could also be on the hook for employee benefits that should have been provided but were not. The cost of being on the wrong side of a worker classification controversy has driven businesses straight into bankruptcy.

How to lock in independent contractor status

Despite lots of rhetoric on the subject, it all boils down to this: A worker is an independent contractor if you have little to no control over the way that person gets the job done. If you insist on lots of day-to-day supervision, the worker is probably a common law employee.

So if you just tell the worker what you want accomplished and by when and then stand back, you have an independent contractor relationship, right? Well, it’s not quite that simple. The worker could still be a common law employee if he or she works full time for you, has no other significant clients, is required to make extensive daily progress reports, and gets paid by the hour (or day or week or month) rather than by the job.

Although it certainly helps your independent contractor argument if the work is performed away from your premises, that fact alone is not a cure-all.

Finally, if you are treating or have treated another worker in essentially the same circumstances as an employee, you’ve shot yourself in the foot. Don’t do that.

Here’s some specific advice: Use a written contract for any worker you want classified as an independent contractor. Taking this step will help resolve ambiguous situations in your favor. The contract should refer to the worker as a contractor and refer to payments as contract payments (not wages). It should not prevent the worker from taking on other projects, and it should not require full-time work for you or working every day on your premises. Payment should be due on completion of the project or at designated progress points. The contract term should be limited rather than open-ended, and it should say you won’t pay for expenses except in specified instances (like when travel is necessary). Of course, you must live up to the contract for it to do any good.

Covering all your bases

If you follow my guidelines, you should be good. However, it never hurts to hear the other side of the story. Go to the IRS web site and print out Form SS-8. You can turn in this form if you want the IRS to tell you how to classify a worker, but you may not like the answer. While on the IRS site, plug worker classification into the search engine. Read what you find while sprinkling it liberally with salt and keeping what I said in mind, since I’m on your side.

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 | 16 Sep 2009 | 10:00 pm

Citigroup poaches top China investment banker

The group has recruited Rodney Tsang, one of Bank of America Merrill Lynch’s top specialists, to strengthen its links with the country’s fast-growing private sector companies
Source: Financial Times - US homepage | 16 Sep 2009 | 9:44 pm

GM exec says balance of power shifts with Opel deal

FRANKFURT (Reuters) - Magna's planned acquisition of Opel is proof that carmakers have lost the upper hand in the industry by outsourcing development work to suppliers and relying on them for technological knowhow, a top GM executive said.
Source: Reuters: Business News | 16 Sep 2009 | 8:58 pm

Kiwibank, GE Money link up as lenders

GE Money will offer Kiwibank branded loans under an agreement announced today.GE Money is the largest non-bank finance company in New Zealand.Government-owned Kiwibank said the arrangement allowed its customers to tap into...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 8:30 pm

OPI Finance in receivership, moratorium fails

OPI Pacific Finance Limited, a finance company that still owes $257 million to small investors, has been placed in receivership by its trustee.Perpetual Trust, acting for OPI's debenture holders and unsecured noteholders has appointed...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 8:00 pm

Recovery hopes dim as manufacturing dips

Manufacturing activity stumbled in August after a general period of improvement since the start of the year, a monthly survey shows.The performance of manufacturing index (PMI), produced by BNZ Capital and Business NZ, recorded...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 7:30 pm

Skype founders sue eBay, investors

SAN FRANCISCO (Reuters) - The founders of Skype have sued owner eBay Inc and an investor group that has agreed to buy the Webphone service, accusing them of copyright violation and potentially disrupting the $1.9 billion deal.
Source: Reuters: Business News | 16 Sep 2009 | 7:17 pm

LWR complaint referred to SFO

The receiver of clothing manufacturer Lane Walker Rudkin Industries has referred a matter to the Serious Fraud Office.A spokesman for receiver BDO Spicers confirmed that a complaint had been made to the SFO. A spokeswoman for...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 7:00 pm

Twitter funding would value it at $1 billion: report

SAN FRANCISCO (Reuters) - Twitter is closing a round of funding that will value the company known for its 140-character, stream-of-consciousness blogs at $1 billion, technology news site TechCrunch reported on Wednesday.
Source: Reuters: Business News | 16 Sep 2009 | 6:55 pm

Backpacker industry aiming for better image

Backpacker businesses will get together for the first time today to try to raise the profile of the industry and blast away the stereotype of the young, low-spending beer-drinker.The first backpacker conference is being jointly...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 6:30 pm

Lion Nathan okays Kirin bid

Lion Nathan Ltd's board has reiterated its unanimous endorsement for Japanese food and beverage firm Kirin Holdings Company's offer to buy the remainder of shares in the Trans-Tasman brewer.Lion Nathan chairman Geoff Ricketts...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 6:30 pm

Tories accuse Gordon Brown of lying to Parliament on cuts

Gordon Brown was accused last night of misleading the Commons after leaked Treasury papers disclosed unpublished government plans to cut spending by £36billion a year by 2014.
Source: Latest Business News from Times Online | 16 Sep 2009 | 6:00 pm

Airlines do it tough as business travel slows

MINNEAPOLIS - Global airline losses are headed for a worse-than-expected US$11 billion ($15.6 billion) this year and it's not clear when lucrative business travel will rebound to pre-recession levels, a trade group said yesterday.As...
Source: nzherald.co.nz - Business | 16 Sep 2009 | 6:00 pm

British Airways' cabin crew urged to ‘hold firm’

Union leaders have told British Airways cabin crew to “hold firm” against the airline’s attempts to cut their pay and change their contracts. In a message to BA’s 14,000 cabin crew, the British Airlines Stewards and Stewardesses Association (BASSA), the union, said that this was was not the time to cut a deal.


Source: Latest Business News from Times Online | 16 Sep 2009 | 6:00 pm

BA risks letting a crisis slip through its fingers

Never allow a crisis to go to waste, said Rahm Emanuel, President Obama’s Chief of Staff. And many British chief executives have heeded his advice, using the economic downturn to push through unpopular changes, squeezing costs and cutting jobs.


Source: Latest Business News from Times Online | 16 Sep 2009 | 6:00 pm

French add Rolls-Royce to nuclear power project

Rolls-Royce will become a player in EDF’s €16 billion (£14 billion) drive to build a fleet of new nuclear reactors in Britain, under an Anglo-French alliance announced on Wednesday.


Source: Latest Business News from Times Online | 16 Sep 2009 | 6:00 pm

Microsoft's Bing search engine in challenge to Google

Microsoft’s Bing search engine is emerging as a challenger to the dominance of Google after capturing a near-11 per cent share of the market in little more than three months.


Source: Latest Business News from Times Online | 16 Sep 2009 | 6:00 pm

‘Bipartisan’ US health bill fails to unify

Centrist Democratic senators introduced their long-awaited ‘bipartisan’ healthcare plan without the public option favoured by President Barack Obama or the support of a single Republican.
Source: Financial Times - US homepage | 16 Sep 2009 | 5:30 pm

Oracle net rises 4% but sales drop, stock slips

SAN FRANCISCO -- Oracle Corp.'s profit rose 4 percent in the latest quarter, matching Wall Street's forecasts, despite a drop in sales that revealed businesses are still being tightfisted about buying new software.

Source: L.A. Times - Business | 16 Sep 2009 | 5:30 pm

Podcast: The Nightmare Of Regulatory Reform

On today's Planet Money:

Much of this economic crisis has been caused by strange financial products that fell between the cracks of regulatory agencies. As we now know, more regulators didn't always make things better, they often made things worse.

Adam Davidson and Alex Blumberg tell the story of the SEC and the CFTC, two agencies that have fought hard to stay apart while the products they regulate grow more and more intertwined. Both Republicans and Democrats agree the two should become one, but former House Financial Services Committee chairman Mike Oxley says the chances of that happening are about as good as him beating Tiger Woods.

Bonus: After the jump, a desperate sale in Los Angeles.

Download the podcast; or subscribe. Intro music: U2's "Two Hearts Beat As One." Find us: Twitter/ Facebook/ Flickr.

Liza White sent the picture above. She writes:

I live in and was walking through Westwood in Los Angeles, CA this morning. At a heavily trafficked intersection at the entrance to UCLA I saw this child's bicycle, locked to a bus station with a primitively hand-written sign in pen: reading $30 with a phone number to call (at an area code that would place the seller far away.)

Is this a stolen bike being sold far away from the theft? a bike being sold in a community where there my be money to afford it? Lots of possibilities but certainly the first sale of a child's possession I have seen sold in this lonely way to gain $30. Seemed poignant and a sign of our times.

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Source: NPR Blogs: Planet Money | 16 Sep 2009 | 5:24 pm

Deal on global imbalances sought at G20 summit

The US administration, with support from Europe, is seeking to reach agreement on a new framework for tackling global economic imbalances at next week’s G20 summit in Pittsburgh
Source: Financial Times - US homepage | 16 Sep 2009 | 5:23 pm

Cuomo subpoenas BofA board members

The New York attorney-general has issued subpoenas to one current and four former board members of Bank of America, calling for them to give testimony under oath about what they knew in the months leading to BofA’s acquisition of Merrill Lynch, according to a source familiar with the matter
Source: Financial Times - US homepage | 16 Sep 2009 | 4:57 pm

Write-Offs: 09.16.09

$$$ US Rep Frank bars Goldman Sachs lobbyist [Reuters]

$$$ Ashley Dupre is a model now [NYP]

$$$ Fiat CEO: Chrysler worse than we thought [CNN Money]

$$$ Day in the Life of an Accelerated M.B.A. Student [WSJ]

$$$ Charlie Gasparino on John Thain getting a new gig in PE (previously)

Sponsored Topics: John Thain - Goldman Sachs - Merrill Lynch - Fiat - Business
Source: Dealbreaker | 16 Sep 2009 | 4:41 pm

Carlyle renews interest in public listing

Carlyle has resumed deliberations about a possible public listing, people familiar with the matter say, underscoring the growing confidence of private equity firms as conditions in the financial markets improve.
Source: Financial Times - US homepage | 16 Sep 2009 | 4:37 pm

KKR to buy into Kodak's 700m fundraising plan

US digital camera and laser imaging group Eastman Kodak said that private equity group Kohlberg Kravis Roberts KKR will buy up to 400m £243m of its senior secured notes as the group moves to strengthen its financial position.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Sep 2009 | 4:28 pm

AIG Board To Benmosche: Use Your Own Jet, Not Ours

Robert Benmosche, chief executive officer of American International Group Inc., was rebuffed by the insurer's board after saying he should be allowed personal use of the bailed-out company's aircraft, according to two people familiar with the matter.

The board said flights will be limited to business purposes because creating an exception would require approaching the Treasury Department for approval, said one of the people, who asked not to be identified because the talks were private. AIG posted an expense guideline on its Web site this week saying that personal use of corporate jets is "strictly prohibited."

Benmosche Said to Be Rebuffed by AIG Board on Corporate Jet [Bloomberg]

Sponsored Topics: Business - American International Group - Aircraft - United States Department of the Treasury - Company
Source: Dealbreaker | 16 Sep 2009 | 4:22 pm

7 Strange Animals Bred for Business Purposes

Supersized bunnies, tiny cows, and frozen goats–they’re not just for children’s books anymore.

Breeders around the world covet certain animals for their economic potential. Some produce a lot of meat. Some are iridescent. Others fit well into small spaces.

Nevertheless, all of the animals featured below have two things in common. One, they have highly unusual attributes. Two, those very attributes make each a potentially lucrative business proposition:

7. Giant Guinea Pig

Cuy meat is lean, protein-packed, and versatile. Better yet, cuys, or guinea pigs, reproduce quickly, offering a steady supply of meat. One Lima official said that guinea pigs will feed a family of up to eight people for only USD $3.20. Peruvians eat about 65 million guinea pigs per year.

With meat in mind, scientists in Peru set out to supersize the cuy. 34 years after they came up with the idea, scientists introduced a giant cuy weighing about 2.2 lbs, twice the usual size. The guinea pigs were especially prized for export, allowing Peruvians living abroad to get a (big) taste of home.

6. Belgian Blue

Known as the Incredible Hulk cow, Monster cow, and Schwarzenegger cow, the Belgian Blue takes the world’s blue ribbon for buffness. The cow’s hereditary myostatin defect results in excessive muscle growth known as “double muscling.” As a result, the breed produces a large amount of lean beef, endearing it breeders looking to penetrate a health-conscious beef market—or just trying to look good with a stable full of manly cows.

5. Fainting Goat

Fainting goats are bred to fall over. A hereditary disorder, myotonia congenita, causes their muscles to freeze when they’re scared, often resulting in them collapsing on their sides. Their small size makes them ideal for small farms, where they won’t hop fences—or will scare themselves into collapsing when they try.

According to oral history, the fainting goat was a good asset protector. Handlers would keep them with other (more valuable) animals, like sheep. When a predator came around, the fainting goat would collapse, effectively sacrificing itself so that the other animals could safely run away.

4. German Giant

The German Giant, one of the biggest domestic rabbit breeds on Earth, can grow to the size of a dog. Breeders covet giant rabbits for their looks, their fur, and their meat.

Breeder Carl Szmolinsky produced Germany’s biggest rabbit in 2006. His win inspired North Korean officials to purchase twelve of Szmolinsky’s German Giants to start a food breeding program. The giant bunnies’ offspring would help alleviate North Korea’s endemic food shortages.

Szmolinsky was scheduled to fly into Pyongyang to help them establish the program. North Korean officials, however, canceled his visit. He suspects that government officials ate the rabbits. “North Korea won’t be getting anything from me any more,” the upset Szmolinsky told Spiegel in this interview.

3. Minicow

If supermarket beef is becoming too expensive, don’t fret. You can purchase your own German Shepherd-sized minicow for a few hundred dollars. It’s tiny, meaty and, best yet, fits in your backyard. Homesteaders can choose from Irish Dexter, Mini Hereford, or Lowline Angus cows, which the Times says produces 70% of the steak of a cow twice its size. All you need is a couple of acres of grass and a little fencing. In return, you get organic, grass-fed beef, sans hormones or slaughterhouse.

2. Jersey Giant

Why eat turkey when you can buy a giant chicken instead? That’s what 19th-century breeders John and Thomas Black were thinking when they introduced the Jersey Giant. The breed, originally crossbred from three other kinds of chickens, produces hens weighing an average of 11 lbs, and cocks of 13 lbs. The meat industry initially took to the idea, but then cast Jersey Giants aside because they don’t grow fast enough.

1. GloFish

Swim aside, goldfish. The Sunburst Orange ® GloFish ™ is genetically engineered to outshine you by miles. And unlike you, boring, traditional goldfish, the GloFish ™ also comes in Starfire Red and Electric Green.

These colorful zebrafish hold the dubious honor of being the world’s first genetically modified pet. In 1999, Singapore-based scientists inserted fluorescence proteins from coral and jellyfish into a zebrafish embryo, resulting in the GloFish’s luminescent qualities. The idea was to create a fish that would fluoresce when it came near toxins, allowing it to detect pollution.

When businesspeople caught wind of the glowing fish, they saw great pet potential. In the US, Austin-based Yorktown Technologies licensed the GloFish—initially created in Singapore—for consumer sales. People continue to buy the dazzling danios, though GMO laws in Canada, and the EU ban people from possessing them.

Source: Business Pundit | 16 Sep 2009 | 4:17 pm

eBay(EBAY) Shares Down On Skype Suit

eBay (EBAY) shares are trading down about 2% at $23.96 on news that a company owned by Skype’s founders has filed a filed a copyright suit against the VoIP company, according to The Wall Street Journal. The firm the founders own is called Joltid and it has a patent on peer-to-peer technology that is used in Skype’s [...]

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Source: 24/7 Wall St. | 16 Sep 2009 | 3:57 pm

Ex-Kmart CEO says he made mistakes leading company (AP)

AP - A former Kmart Corp. CEO said Wednesday that he made mistakes while leading the discount retailer that he wouldn't make again but didn't profit from its collapse into bankruptcy.

Source: Yahoo! News: Stock Markets News | 16 Sep 2009 | 3:55 pm

How the major stock indexes fared on Wednesday (AP)

AP - Investors barreled into stocks Wednesday after an upbeat report on industrial production raised hopes that the economy is strengthening. The Federal Reserve's report that industrial activity surged 0.8 percent in August topped expectations. It came a day after Fed Chairman Ben Bernanke said that the recession was likely over.
Source: Yahoo! News: Stock Markets News | 16 Sep 2009 | 3:55 pm

Say It Isn't So Maxine

After almost a year of building up to the banking regulatory reform brawl, it looks like Mad Max may have more pressing things to attend to this fall.

The House ethics committee announced Wednesday that it is extending probes into two lawmakers -- Democrat Maxine Waters of California and Republican Sam Graves of Missouri -- in unrelated cases while it deferred investigation into a case involving Rep. Jesse Jackson Jr.

The Committee on Standards of Official Conduct did not say why it was extending the probes, but that they related to an unannounced question surrounding the conduct of Waters and an unspecified matter regarding Graves.

Sponsored Topics: Republican - United States House Committee on Standards of Official Conduct - Mad Max - California - Democrats
Source: Dealbreaker | 16 Sep 2009 | 3:55 pm

Do You Have Aspirations Of Rubbing Up Against Vikram Pandit?

We can't say for sure it's going to happen but we can definitely get you one step closer to reaching out and giving the Vickle a tickle. Pandit will be at the 92nd Street Y tomorrow night in an interview with Businessweek's Steven J. Adler on the topic of, among other things, whether or not the Citi CEO thinks the recession is over, and the organizers would like to throw some of your brain busters Pandito's way. The two best questions left below will receive free tickets to the big show. Do your worst.

Sponsored Topics: Vikram Pandit - Citibank - Businessweek - Arts - Television
Source: Dealbreaker | 16 Sep 2009 | 3:54 pm

Eastman Kodak (EK) Shares Fall On KKR Investment

KKR must not carry the clout it once did. Eastman Kodak (EK) announced that it expects to raise up to $700 million through a series of financing transactions, including a commitment from KKR  to purchase up to $400 million in Senior Secured Notes due 2017.  Kodak’s stock fell 3% to $6.49. Kodak agreed to issue to [...]

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Source: 24/7 Wall St. | 16 Sep 2009 | 3:44 pm

Presented By:

Source: Dealbreaker | 16 Sep 2009 | 3:41 pm

Original TARP Plan Enacted....In Ireland

It took a bit longer than expected, and in another country, but the world may now get a glimpse at the wisdom of direct government purchases of toxic assets. Faced with the near Icelandic state of its banks, the Irish government is planning on going long the real estate market to the tune of €54bn to help get credit flowing again. The newly created National Asset Management Agency will receive a 30% discount on the €77bn loan portfolio coming off bank balance sheets and then call for nationwide prayer to help property prices rise the 10% over 10 years required for the government to break even. If there was ever a time for the luck of the Irish to come through, this is it.

Ireland to Pay EU54 Billion for Banks' Risky Loans [Bloomberg]

Sponsored Topics: Ireland - Government of Ireland - Bank - Irish people - Troubled Assets Relief Program
Source: Dealbreaker | 16 Sep 2009 | 3:41 pm

SEC creates new risk, strategy division (AP)

AP - The Securities and Exchange Commission has merged several offices and functions to create a division of risk, strategy and financial innovation.
Source: Yahoo! News: Stock Markets News | 16 Sep 2009 | 3:39 pm

SEC creates new risk, strategy division (AP)

AP - The Securities and Exchange Commission has merged several offices and functions to create a division of risk, strategy and financial innovation.
Source: Yahoo! News: Business | 16 Sep 2009 | 3:39 pm

Newspaper stocks jump on ad trends (AP)

AP - The stocks of newspaper companies surged Wednesday on optimism that deep cost cuts will let them benefit from the economic recovery, even as advertising and readers move online.
Source: Yahoo! News: Stock Markets News | 16 Sep 2009 | 3:33 pm

Chrysler starts leasing again

Chrysler will begin leasing vehicles again after a hiatus of more than a year, the automaker announced Wednesday.
Source: Business and financial news - CNNMoney.com | 16 Sep 2009 | 3:32 pm

Hopes of a Channel 4/BBC Worldwide tieup diminish

Channel 4 chairman Luke Johnson has dampened hopes of a tieup with BBC Worldwide and said the broadcaster must push harder for "contestable funding" as the group confirmed Andy Duncan chief executive was stepping down.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Sep 2009 | 3:28 pm

Lloyd Blankfein Smacks Some Sense Into Pansy-Ass Employee

We're not yet finished with James Stewart's New Yorker story, The Eight Days of the Financial Crisis, in which he takes us through the events of September 12 to September 19, 2008, but so far there's lots of good stuff. Bernanke, who's never yelled before, raises his voice to Hank Paulson, of all people, knowing exactly what the Hammer could do to him with just one hand. Jamie Dimon uses the word "pussyfoot" when telling AIG's Willumstad to get his ass in gear. John Mack's close personal friends call to tell him sorry, but they're pulling their money from Morgan Stanley. An unnamed CEO cries while on the phone with Tim Geithner. And Lloyd Blankfein tells a Master of the Universe to quit being such a puss.

At 11AM, for the fourth consecutive day, investment bankers filed into the New York Fed. "I don't think I can take another day of this, a Goldman banker told Lloyd Blankfein as they got out of the Goldman car.

"You're getting out of a Mercedes to go to the New York Federal Reserve," Blankfein responded. "You're not getting out of a Higgins boat on Omaha Beach."

Oh, and Hank Paulson smears some on some lipstick.

Sponsored Topics: Lloyd Blankfein - Morgan Stanley - American International Group - New York - Federal Reserve Bank of New York
Source: Dealbreaker | 16 Sep 2009 | 3:16 pm

Buying MillenniumIT is a smart move but Rolet needs to do more

Xavier Rolet spent many years as a trader and on Wednesday his onetime counterparts were busy bidding up the price of shares in the London Stock Exchange LSE where he is now chief executive.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Sep 2009 | 2:52 pm

This is not the way to help the jobless

Imagine looking at an old school photograph counting along the lines of faces and picking out the one in five that would now be looking for work.
Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 16 Sep 2009 | 2:48 pm

Government Determined To Get Housing Market To Function One Way Or Another

With the national credit card just about maxed out, Congress is looking to add some more wiggle room just in case spending cuts aren't enough to offset the potential doubling down on the home buyer tax credit program. In the race to beat inflation, Congress appears set to do its best to force the residential real estate market to clear before the clock strikes midnight and interest rates start heading north. A proposal set forth by the National Association of Realtors asks Congress to increase the home buyer tax credit from $8,000 to $15,000 and open it up to everybody, not just first time buyers. While adding a meagre $50 to $100 billion to an existing $11.8 trillion tab seems like rounding error, there is a more disturbing undercurrent at work.

Should the government blink in its game of chicken with inflation and keep rates low too long in the name of housing, there's a real problem when the inevitable happens. House prices will become artificially inflated, people will start to borrow against that inflated value and then hope their homes will appreciate even more to pay off their loans. This personal Ponzi scheme sounds vaguely familiar.

Sponsored Topics: Real estate - National Association of Realtors - Business - House - Congress
Source: Dealbreaker | 16 Sep 2009 | 2:39 pm

BofA board members subpoenaed

New York Attorney General Andrew Cuomo issued subpoenas to five Bank of America board members on Wednesday, as part of his investigation into the bank's purchase of Merrill Lynch a year ago, a source close to the investigation told CNN.
Source: Business and financial news - CNNMoney.com | 16 Sep 2009 | 2:30 pm

Fed focuses on property exposure

The US Federal Reserve is reviewing banks’ exposure to commercial real estate, the troubled sector whose slide poses a risk to many institutions because of the wide distribution of loans and mortgage-backed securities across the sector.
Source: Financial Times - US homepage | 16 Sep 2009 | 2:29 pm

Vincent Catalano Likes High-Yield Bond ETFs: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 2:27 pm

Letter: 'I Was The Nicest Guy In Health Care'

Andy D. writes:

Given the recent interest in the health care debate, I thought someone might be interested in a position I held: Refunds Analyst. I worked in a medical billing office for a series of radiology clinics, and my entire workday, every day, was spent looking through the billing system for accounts listed as "overpaid", and then determining why the accounts were listed as overpaid. I would then take the proper steps to remove the credit balance, either by correcting a typo, sending a refund to the insurer, or on the really good days, refunding a patient.

This could at times be an alarming position, given that it allowed me to see how many people failed to understand their Explanations of Benefits (EoBs) - including insurers and those being paid. The most common causes of overpayment were entry error, duplicate payments from one carrier, and conflicts between insurance carriers regarding which is the primary/secondary carrier.

The need for a more streamlined health care system becomes painfully apparent when even the process of returning money to a carrier is long and painful. Sometimes we might receive requests for refunds, but in many cases the carrier or patient would be completely unaware that they were owed money

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Source: NPR Blogs: Planet Money | 16 Sep 2009 | 2:24 pm

Oracle’s Earnings… Alligator Arms (ORCL)

Oracle Corp. (NASDAQ: ORCL) was having a rough day ahead of its earnings and things don’t look much better after the report.  The CRM leader posted a 5% rise in income of $1.1 billion, which came to $0.22 EPS; however on a non-GAAP basis the figure was $0.30 EPS. Its revenue for the August quarter [...]

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Source: 24/7 Wall St. | 16 Sep 2009 | 2:19 pm

Oracle shares fall after earnings (Reuters)

Reuters - Shares in Oracle Corp fell 2.8 percent to $21.50 in extended trade on Wednesday after the company posted first-quarter earnings.

Source: Yahoo! News: Stock Markets News | 16 Sep 2009 | 2:11 pm

Warren Buffett: Ken Lewis Basically Imbecile Who Got Lucky

As you're aware, Warren Buffett spent yesterday at the Fortune Women in Power Conference where he laid pipe and talked shop. After regaling the ladies assembled with a story about how he could've possibly saved Lehman if he wanted to to (/knew how to check voicemail), the Oracle Of O has moved on to some serious trash talk. What he doesn't seem to get here is that it's actually pretty incredible what Lewis was able to accomplish, considering what his blood alcohol levels were during those frightening weeks last year, and rather than be hated on, maybe we should be praising the guy for going above and beyond what anyone expected, namely vomiting on his shoes.

Buffett, the billionaire investor who runs Berkshire Hathaway, said Tuesday at Fortune's Most Powerful Women Summit in San Diego that Lewis -- the embattled Bank of America chief executive officer -- was the "ironic hero" of last September's economic meltdown.

But make no mistake, the emphasis was on ironic. Buffett's comments portray Lewis as a sort of Mr. Magoo of global finance, bumbling into trouble in stubborn pursuit of banking greatness -- and unintentionally saving the world in the process.

Warren Buffett came to bury Ken Lewis, not to praise him. [Fortune]

Sponsored Topics: Warren Buffett - BerkshireHathaway - San Diego - Bank of America - Chief executive officer
Source: Dealbreaker | 16 Sep 2009 | 2:11 pm

Shanda IPO Taking Shape (SNDA, GAME, CYOU, SOHU)

The spin-off IPO for Shanda Games Limited (NASDAQ: GAME) is coming next week and the company has set the expected price band for its 63+ million American Depositary Shares in range of $10.50 and $12.50 per share.  The company is a wholly-owned subsidiary of Shanda Interactive Entertainment Limited (NASDAQ: SNDA) and will in many ways [...]

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Source: 24/7 Wall St. | 16 Sep 2009 | 2:05 pm

Come On Down To Vikram's House Of Jewels!

Pandito is busy speaking at the Barclays conference today but if he can get out in time you bet your asses he'll be there. Above a sale of necklaces, pendants and bracelets up for grabs at what a Big C employee has described as "I shit you not, a chincy jewelry sale going on in the Citi cafeteria right now." We have no idea what the hell this is about but presumably it's part of someone's genius plan to bring Vikram's goal of making Citi "the best company in the world bar none" on home. Act now.

Sponsored Topics: Jewelry - Shopping - Jewellery - Bracelet - Theme
Source: Dealbreaker | 16 Sep 2009 | 1:36 pm

The Trump Network: Coming to a Hotel Conference Room Near You

I was surprised yesterday, while browsing the booths at a local business women’s conference, to see a spread for The Trump Network. I shouldn’t have been surprised.

I didn’t want to encourage the woman who was eagerly showing me the scientific looking test tubes which I had assumed were some sort of at-home drug testing kit for and therefore possibly very practical, but which would actually be used to collect my urine so that customized Trump vitamin supplements could be crafted. My extreme curiosity about all things Trump won out. I grabbed a few brochures.

Could it be true? Donald Trump launching a network marketing company? It is, and they’re selling vitamins and pre-packaged meals. Oh, Donald, I just don’t know about this. I mean real estate is so sexy, but laxatives? Not so much.

According to Trump it’s time to take back the American dream. The official launch of the company is set for November in Miami. You can find out more on their website here, but beware – there are a lot of video clips of the Donald shouting. But we wouldn’t have him any other way, would we?

My big question is this: why not hair products?

Image Credit: screenshot, www.trumpnetwork.com

Source: Business Pundit | 16 Sep 2009 | 1:30 pm

Khan Says Nigeria Offers `Significant Scope’ for Gains: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 1:29 pm

McCarthy of Jeffries Says U.S. Deflation Is Passing: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 1:28 pm

Twitter gives traders virtual open outcry

Social networking site is resurrecting in cyberspace the trading pits of yesteryear as traders reconnect with global counterparts
Source: Financial Times - US homepage | 16 Sep 2009 | 1:20 pm

Ken Fisher Says Bad Auditing Let Madoff Go Undetected: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 1:11 pm

Nadler Sees Fair Value for Gold is $680 to $880: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 1:08 pm

Landers Says Brazil’s Prosperity Growing More Stable: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 1:06 pm

Levitt Says Financial Reform Needs Better Focus From Fed: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 1:03 pm

White House economic team evaluating home tax credit (Reuters)

Reuters - White House economic advisers are looking at the $8,000 tax credit for first-time home buyers and will make a recommendation to President Barack Obama as he decides whether to extend it, White House spokesman Robert Gibbs said on Wednesday.
Source: Yahoo! News: Business | 16 Sep 2009 | 12:54 pm

FDIC names first winner in toxic asset program (AP)

AP - The Federal Deposit Insurance Corp. on Wednesday named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets.
Source: Yahoo! News: Business | 16 Sep 2009 | 12:34 pm

Senate Finance Committee Releases America’s Healthy Future Act

(AP Photo/Susan Walsh)

The Senate Finance Committee, chaired by Democratic Senator Max Baucus, just released its $856 billion, 10-year healthcare reform bill. The plan will help reform efforts gain steam in the House.

You can find the full text here. The Wall Street Journal describes the bill:

The sweeping measure is designed to steer a more moderate course on health policy than other major bills moving through Capitol Hill, and it doesn’t propose to create a new government insurance plan to compete with private insurers, as proposed in rival House legislation and favored by many liberal lawmakers. Instead, the Montana Democrat is proposing to expand coverage by creating a network of nonprofit health-insurance cooperatives. The cooperatives would be seeded with $6 billion in federal money, enough to cover start-up costs and meet insurance solvency requirements.

The bill wouldn’t require employers to provide insurance, a break with the more aggressive House bill. But it would require businesses that have more than 50 workers and don’t offer insurance to reimburse the government for part of the cost of any taxpayer-backed insurance subsidies the workers receive.

Among other things, the bill would levy a new 35% excise tax on high-dollar insurance plans. The tax would fall on insurers offering plans with values above $8,000 for individuals and $21,000 for families. The premium tax would take effect in 2013 and raise $215 billion over 10 years, according to a preliminary estimate from the Joint Committee on Taxation.

The bill would also levy a total of $93 billion in fees on health-care-related industries over 10 years, to help offset the bill’s price tag. Pharmaceutical companies would face an annual assessment of $2.3 billion, medical-device manufacturers $4 billion and health insurers $6 billion, all apportioned according to a firm’s market share.

Some small businesses will be exempt from these taxes.

In addition, the bill would make more people eligible for Medicaid. It would create an exchange where people can buy insurance. Health insurance would be legally required. Starting in 2013, not carrying it would accrue fines ranging from $750 to $3,800.

Once again, Medicare is a contentious issue. The New York Times reports:

The Baucus plan envisions major reductions in the rate of growth of Medicare spending, by trimming payments to hospitals, nursing homes, managed-care plans and almost every other type of provider. But Democrats say those reductions will be accomplished mainly through greater efficiencies, not a reduction in benefits.

If Republican opposition continues…

…the Democrats say they have little choice but to push forward, perhaps using a hardball parliamentary tactic known as budget reconciliation, which would allow them to approve much of what is in the Baucus bill with just 50 votes in the Senate rather than the 60-vote super majority normally required to overcome filibusters.

Source: Business Pundit | 16 Sep 2009 | 10:54 am

VW test drives clean diesel in U.S.

Volkswagen is looking to bring its high-end Phaeton back to the U.S., possibly with a clean diesel engine. But are Americans ready for it? Alisa Roth reports.
Source: Marketplace | 16 Sep 2009 | 10:40 am

Facebook status update: We're profiting

For the first time ever, Facebook is making a profit. When did it figure out how to do that? Stacey Vanek-Smith reports.
Source: Marketplace | 16 Sep 2009 | 10:40 am

Paying the price for climate change

Author and economist Lord Nicholas Stern talks with Kai Ryssdal about the costs of fighting climate change, what happens if we do nothing, and how the U.S. can get more investing in clean tech.
Source: Marketplace | 16 Sep 2009 | 10:40 am

Irish cross border for cheap bargains

On the border between the Republic of Ireland and the British province of Northern Ireland, a difference in currencies has Irish shoppers flocking north for great deals. Christopher Werth reports.
Source: Marketplace | 16 Sep 2009 | 10:40 am

Health costs hurt incomes in Bush years

With information from a recent report, we may finally be able to reach a verdict on President George W. Bush's economic record. Commentator David Frum doesn't like what he sees.
Source: Marketplace | 16 Sep 2009 | 10:40 am

Pop art prices pop!

Author Richard Polsky talks with Kai Ryssdal about his book, "I Sold Andy Warhol (Too Soon)," and how the art bubble popped in 2008.
Source: Marketplace | 16 Sep 2009 | 10:39 am

How Baucus's plan will help uninsured

Senate Finance Committee Chairman Max Baucus released his plan to overhaul the health system. Tamara Keith reports on what the plan means for people who don't have insurance and the businesses that employ them.
Source: Marketplace | 16 Sep 2009 | 10:35 am

Health Reform - The Senate Version

By David Kestenbaum

Senator Max Baucus just released the Senate's version of a health care reform bill. As expected it does not include plans for creating a new government-run insurance plan to compete against regular insurance companies.

This "public option" has been billed as a way to contain health care costs. But some economists don't see how that would work.

If you want to read an economic case in favor of the public option, check out this briefing by Jacob Hacker at Yale who has been called the "father of the public option."

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Source: NPR Blogs: Planet Money | 16 Sep 2009 | 10:27 am

WWE CEO Linda McMahon Resigns to Beat Chris Dodd in Senate Race

Linda McMahon, CEO of World Westling Entertainment, Inc., will resign from her job to run against Chris Dodd in the 2010 Connecticut Senate race. The LA Times has more:

Maybe The Rock and Triple H will serve as campaign managers.

Although not nearly as flamboyant as her husband — WWE Chairman and ringmaster Vince McMahon — Linda McMahon is considered the brains behind the brawn. She has been CEO of WWE since 1997 and is respected on Wall Street. She and her husband have been focusing on making over WWE from a raunch-fest to more family-friendly entertainment, albeit a family that likes to throw each other around a ring and talk in double entendres (for more on how the WWE has been repositioning itself, read our Aug. 24 story). Whether the move toward kinder, gentler wrestling was in part motivated by her political aspirations remains to be seen, but it probably won’t hurt.

With deep pockets and a fairly established presence in the state, McMahon could be a force in the race. According to the The Hill, a Washington political publication, McMahon’s likely opponents for the Republican nomination are former U.S. Rep. Rob Simmons and former Ambassador to Ireland Tom Foley. Interestingly, former Connecticut governor and Sen. Lowell Weicker is on the WWE’s board of directors.

Inside the WWE, McMahon’s exit comes as the company is in the midst of an expansion. Vince McMahon, who will assume his wife’s CEO position, indicated last month that he wants to launch a cable network and is also pushing harder to make more movies with his stable of wrestling talent.

She certainly sounds like she has a fighting chance.

Fox Business has an interview with McMahon (below).

Watch the latest business video at FOXBusiness.com

Source: Business Pundit | 16 Sep 2009 | 9:59 am

Bert Ely Sees More Bank Failures Until at Least 2011: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 9:57 am

Wardell Sees Seasonal Oil Demand, `Huge' Inventory: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 9:55 am

Dumas Sees Greater Value in Gold Than Oil: Audio

Source: Bloomberg - All Podcasts | 16 Sep 2009 | 9:44 am

O.E.C.D. Warns Recession Could Cost 25 Million Jobs

By Caitlin Kenney

The international group, Organization for Economic Cooperation and Development, warns that the unemployment rate for its 30 member nations could reach a high of 10 percent by 2010. The unemployment rate across the countries in the O.E.C.D. was 8.5 percent for July.

From the New York Times:

Government spending programs on the labor market -- re-training programs, for example -- do not appear focused enough to bring the unemployment rate down soon, the report said.

"A major risk is that much of this large hike in unemployment becomes structural in nature as many of the unemployed drift into long-term joblessness or drop out of the labor force," said John P. Martin, director at the O.E.C.D. for employment.

That occurred in a number of O.E.C.D. countries during past recessions, "when unemployment remained at a new higher plateau compared with the pre-crisis level even after output returned to potential and it took many years, if ever, to bring it down again to the pre-crisis level."

The report recommends governments focus a significant amount of attention on young people to avoid the risk of a generation of people "losing touch with the job market."

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Source: NPR Blogs: Planet Money | 16 Sep 2009 | 9:38 am

Consumer Prices Up, Led By Energy

By Caitlin Kenney

The new Consumer Price Index just came out, and it shows overall prices rose 0.4 percent in August, slightly higher than economists were expecting.

The core index, all items except food and energy, rose just 0.1 percent last month. The slight increase shows inflation maybe re-entering the economy, but not at the rate some investors were expecting.

Energy prices rose 4.6 percent last month, led by gasoline which climbed 9.1 percent. Food prices rose 0.1 percent, while new vehicle prices fell 1.3 percent.

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Source: NPR Blogs: Planet Money | 16 Sep 2009 | 9:03 am

Typing on the Edge

Source: Business Pundit | 16 Sep 2009 | 5:41 am