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Audit firms left unprotected against claims of negligenceBritain’s big four auditing firms have been left exposed to a surge in negligence claims after the Government refused to limit further the damages they could face. Source: Latest Business News from Times Online | 28 Sep 2009 | 3:30 pm Yen hits 8-month high on 'baffling' FujiiA series of “baffling” and seemingly contradictory statements by Japan’s new foreign minister plunged currency markets into disarray on Monday and drove the yen to an eight month high against the US dollar. Source: Latest Business News from Times Online | 28 Sep 2009 | 5:18 am iPhone price war ready to erupt as Orange wins contract for the UKAn iPhone price war will erupt this Christmas as the phone will go on sale with two rival mobile networks.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 4:30 am Wolseley surges as debt falls, loss hits $1.85 blnShares in Wolseley jumped as much as 10% Monday after a sharp drop in debt and better-than-expected underlying results at the building materials firm helped investors look past a massive loss from restructuring and impairment charges.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 4:28 am Futures Movers: Crude prices drop below $66 a barrelOil futures edged lower early Monday after last week’s steep decline, as modest dollar strength and falling global equity markets weighed on market sentiment.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 4:22 am Johnson & Johnson reaches flu deal with CrucellJohnson & Johnson on Monday announces its second stake buy of a European drug company this year, this time reaching a pact to buy a portion of Holland’s Crucell.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 4:21 am Lord Mandelson accepts people may think Labour encouraged bonus cultureLord Mandelson the Business Secretary said he did not "entirely blame people" for thinking that the Labour government had initially encouraged the bonus culture.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 4:16 am Around The World Google Spelled “Googlle” For A DayThere are reports from around the world that Google (GOOG) has changed its logo to “Googlle” for the day to celebrate its 11th birthday. The reports on the temporary logo have come in from China, London, and other parts of Europe. Many geographic locations in the US are still seeing the normal logo, but that may [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Sep 2009 | 4:10 am Marsh on Monday: ECB targets Anglo-American regulationIn their criticism of the Americans, European regulators today are a great deal less circumspect, and the ECB is pointing towards a distinctly tougher line.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 4:10 am Personal accounts: a generation let down by Labour's 19year ditherIn 1997 Labour promised "goodvalue second pension schemes" for those on low and modest incomes. Now full implementation won't happen until 2016.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 4:07 am Albemarle soars on Britons' pay-day advancesAlbemarle & Bond emphasised the squeeze on household incomes today as the UK's largest chain of pawnbrokers reported an increase in profits and plans for expansion. Source: Latest Business News from Times Online | 28 Sep 2009 | 4:04 am Indications: U.S. stock futures in tight range after G20U.S. stock futures were trading mostly flat on Monday with some disappointment over a failure by the weekend G20 meeting to lay out specifics for banking system reforms and on some investor jitters that the market looks overextended.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 4:04 am S American leaders in bank dealSouth American leaders back plans to create a regional development bank to finance projects in the region.Source: BBC News | Business | World Edition | 28 Sep 2009 | 4:02 am FFI Reports Annual ResultsINDIANAPOLIS, Sept. 28 /PRNewswire-FirstCall/ -- Fortune Industries, Inc. (NYSE AMEX: FFI) announced today results for the fiscal year ended June 30, 2009. Highlights ...Source: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 4:01 am Central European Distribution Corporation Closes the Purchase of the Remaining Minority Stake in the Parliament Group in RussiaBALA CYNWYD, Pa., Sept. 28 /PRNewswire-FirstCall/ -- Central European Distribution Corporation (Nasdaq: CEDC) today announced that on September 24, 2009 it closed its acquisitionSource: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 4:00 am Johnson Controls Announces Results of Offer to Exchange Its Equity UnitsMILWAUKEE, Sept. 28 /PRNewswire-FirstCall/ -- Johnson Controls, Inc. (NYSE: JCI) today announced the final results of its previously announced offer to exchange up to 8,550,000...Source: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 4:00 am Telecom Report: Wireless carriers look beyond phones for growthWireless networks are not just for cell phones and laptops anymore. Carriers are looking towards digital readers, cameras and GPS devices for future growth.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 4:00 am Japanese exporters lead Asian stocks lowerAsian stock markets end mostly lower Monday, tracking Wall Street's weak showing on Friday.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 3:59 am Orange announces UK iPhone dealNetwork operator Orange has reached an agreement to sell Apple's popular iPhone in the UK, ending O2's exclusive deal.Source: BBC News | Business | World Edition | 28 Sep 2009 | 3:58 am Albemarle & Bond profits boosted by rise in gold priceThe jump in the gold price has helped Albemarle & Bond Britain's largest pawnbroker post a 50pc rise in its fullyear pretax profits as recessionhit customers make more use of its services.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 3:57 am RIM's stock drops 17%Research In Motion's shares plummeted 17% on Friday after the smartphone maker's fiscal third-quarter outlook announced Thursday missed expectations.Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:54 am 6 economies in recoveryAs Obama hosts a G-20 summit in Pittsburgh, we look at 6 major economies angling for a recovery. From the U.S. to China, how everyone stacks up.Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:54 am UPDATE 1-Thailand wins praise for AIDS vaccine trialHONG KONG/BANGKOK, Sept 28 (Reuters) - An experimental AIDS vaccine that appears to be the first to protect people was mired for years in controversy, and credit for its success must go to Thailand where...Source: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 3:53 am China's inscrutible iPhone plansSource: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:52 am Swine Flu, Spreading With Unexpected Rapidity, Threatens RecoveryThe notion that swine flu will hurt the economic recovery in the fourth quarter has gone from a theory to a reality. The number of states that reported widespread infection went to 26 last week up from 21 the week before according to Centers for Disease Control. “H1N1 is spreading widely throughout the US,’’ said [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Sep 2009 | 3:49 am European Stocks to Watch: German nuclear operators rise on Merkel winShares of Germany’s nuclear power plant operators rise while solar-related companies drop after election results indicate that a center-right coalition will be formed.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 3:45 am Solvay sells drugs unit to Abbott for $6.6 billionAMSTERDAM (Reuters) - Belgian drugs, chemicals and plastics maker Solvay said on Monday it would sell its drugs unit to U.S. partner Abbott Laboratories for 4.5 billion euros ($6.6 billion) in cash and reinvest in chemicals and plastics.Source: Reuters: Business News | 28 Sep 2009 | 3:44 am Property boosts Arsenal profitsThe company that owns Arsenal Football Club reports higher profits, with property sales proving as important as football.Source: BBC News | Business | World Edition | 28 Sep 2009 | 3:42 am Commercial property: the bears are turning bullishPeter Hargreaves who had a spat with John Duffield over the prospects for commercial property has turned positive on the sector for the first time in six years.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 3:40 am Unicom to sell iPhones in China from October 1China Unicom, the country's second largest mobile operator, said on Monday it would start selling Apple's iPhones on October 1, China's national day, as it hopes to lure more high-end users to boost profits...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 3:37 am UPDATE 2-Spain's Prisa to sell 25 pct of SantillanaMADRID, Sept 28 (Reuters) - Spanish media group Prisa said on Monday it had reached a $362 million deal to sell a chunk of its book publishing arm, Santillana, and had more asset disposals on the table...Source: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 3:30 am Saudis 'eye stake in Liverpool'Reports in the Middle East say a Saudi price is ready to buy half of Liverpool Football Club.Source: BBC News | Business | World Edition | 28 Sep 2009 | 3:29 am UPDATE 2-Unicom to sell Apple iPhones in China from Oct* Unicomm has 530,000 3G users since commercial trial in May (Adds analyst quotes, details)Source: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 3:27 am Cut bonuses, UK to tells banksAlistair Darling will ask bankers to crack down immediately on bonuses in a major speech to Labour's annual conference.Source: BBC News | Business | World Edition | 28 Sep 2009 | 3:26 am Apple's strong fiscal yearSource: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:19 am INTERVIEW-UPDATE 1-KT sees iPhone impact,to offer new phones* Sees iPhone creating market, healthy competition in KoreaSource: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 3:17 am Swine flu -- and no paid sick leaveAs the H1N1 swine flu virus starts its second major sweep through the U.S., business owners are bracing for the impact of a worse-than-usual flu season on their workforces. That's reviving debate on a contentious issue: What kind of sick leave should companies offer employees -- and should it be mandated by law?Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:17 am Orange scoops deal to sell iPhone in UKOrange has won the rights to sell the Apple iPhone in the UK, ending O2's two-year exclusive agreement with the technology group. Source: Latest Business News from Times Online | 28 Sep 2009 | 3:16 am Orange to sell Apple iPhone in BritainApple's iPhone will be available to Orange customers in Britain later this year the mobile operator said.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 3:15 am Crucial week ahead for Wall StreetThe market rally finally hit some resistance last week, giving investors in the week ahead an opportunity to get back in at lower levels - or get out before the going gets worse.Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:15 am World stocks fall on US outlook, Asia hurt by yen (AP)
Source: Yahoo! News: Stock Markets News | 28 Sep 2009 | 3:14 am FTSE falls on economic fearsLondon shares began falling shortly after opening as cautious investors decided to take profits after weaker markets in Asia and a fall on Wall Street on Friday. Source: Latest Business News from Times Online | 28 Sep 2009 | 3:11 am Stocks poised for mild openU.S. stock futures were poised for a mild start Monday, as investors digested a deal in the pharma sector.Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:10 am Abbott in $6.6 billion pharma dealSource: Business and financial news - CNNMoney.com | 28 Sep 2009 | 3:10 am World stocks fall on US outlook, Asia hurt by yenWorld stocks fell Monday after disappointing data from the U.S. undermined hopes of a fast economic recovery and a sharp strengthening in Asian currencies hurt confidence among the region'sSource: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 3:08 am The Rubber Chicken Trade WarsThe Administration made its decision two weeks ago to put extremely large tariffs on tires from China, an action that the government of the world’s most populous nation will likely to take through the WTO appeal process. There have been concerns since then that the Chinese may not be willing to look at the tire [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Sep 2009 | 3:07 am London Markets: Wolseley shares shine in lower FTSE 100Shares of Wolseley jumped 6.5% in London on Monday, outperforming other advancers in the top British share index by a long way, as investors eyed fiscal-year results from the firm.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 3:05 am European Stocks to Watch: Europe IPO market thawing from a deep freezeBanks, private equity houses and investors in Europe will be paying keen attention this week to see how a Chinese wireless company fares in the first listing on the Germany’s primary stock exchange in more than a year.
Source: MarketWatch.com - Top Stories | 28 Sep 2009 | 3:00 am House price fall slows to lowest level in a yearThe annual drop in house prices in England and Wales has slowed to its lowest level in a year. Source: Latest Business News from Times Online | 28 Sep 2009 | 2:58 am Two Hundred Billion Barrels Of Untapped OilBP claims that there may be 200 billion barrels of oil and oil equivalents under the region above the Arctic Circle. Norway is exploring the area of its northern coast in the belief that a large portion of these fields belong to it. The BP estimate could be confirmed within the next year or so, but [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Sep 2009 | 2:52 am Farepak cheques 'are in the post'Administrators acting for the collapsed Christmas hamper firm Farepak start sending out cheques to some creditors.Source: BBC News | Business | World Edition | 28 Sep 2009 | 2:49 am London shares slip backInsurance stocks limited losses on the FTSE 100 positive on Monday, and there was a stand-out performance from plumbing and heating goods specialist Wolseley. London's benchmark index fell 22 points overall...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 2:46 am UPDATE 2-Johnson & Johnson buys 18 pct stake in Crucell* Johnson & Johnson buys 18 pct stake for 302 mln eurosSource: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 2:44 am Johnson & Johnson buys 18 percent stake in CrucellAMSTERDAM (Reuters) - U.S. diversified health care company Johnson & Johnson has bought an 18 percent stake in biotech firm Crucell for 302 million euros ($444 million) as part of a flu vaccine development deal, the Dutch company said on Monday.Source: Reuters: Business News | 28 Sep 2009 | 2:44 am Australia court allows claims against LehmanSYDNEY (Reuters) - An Australian court has ruled that local governments can pursue financial claims against collapsed U.S. investment bank Lehman Brothers in Australia and elsewhere, a firm that is funding the litigation said on Monday.Source: Reuters: Business News | 28 Sep 2009 | 2:37 am UPDATE 1-Spain's Prisa to sell 25 pct of SantillanaMADRID, Sept 28 (Reuters) - Spanish media group Prisa said on Monday It had reached a deal in principle to sell 25 percent of its book publishing unit Grupo Santillana de Ediciones to DLJ South American...Source: RSS feed - channel BNewsBusiness | 28 Sep 2009 | 2:36 am Honduras vows to close Brazil embassyHonduras’ de facto government threatened to close Brazil’s embassy for harbouring ousted President Manuel Zelaya and moved to suppress dissent, defying international pressure to give up powerSource: Financial Times - US homepage | 28 Sep 2009 | 2:35 am Microsoft stages a big comebackFrom the mid-1980s to 1999, a period that marked the rise of the PC, Microsoft made a lot of people rich: Its shares soared 59% a year.Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 2:31 am Iran test-fires long range missileIran will face new international sanctions unless it enters into detailed and substantive negotiations on its nuclear programme before the end of this month, European diplomats have told the Financial TimesSource: Financial Times - US homepage | 28 Sep 2009 | 2:22 am Oil falls below $66, sluggish demand in focusLONDON (Reuters) - Oil slipped below $66 a barrel on Monday, extending last week's 8.4 percent drop, as investors focused on high inventories and sluggish demand, shrugging off rising tension between Iran and the West.Source: Reuters: Business News | 28 Sep 2009 | 2:21 am Stock futures point to weaker start (Reuters)
Source: Yahoo! News: Stock Markets News | 28 Sep 2009 | 2:20 am Stock futures point to weaker start (Reuters)
Source: Yahoo! News: Business | 28 Sep 2009 | 2:20 am Stock futures point to weaker start(Reuters) - Stock futures pointed to a weaker start for Wall Street on Monday. Futures for the Dow, the S&P 500 and the Nasdaq were down 0.2-0.4 percent by 3:58 a.m. EDT.Source: Reuters: Business News | 28 Sep 2009 | 2:20 am France names Proglio as EDF chief executivePARIS - The French president will appoint Veolia chief executive Henri Proglio as the new head of state-controlled power group EDF, the world's biggest nuclear operator, the prime minister's office said...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 2:18 am Homes: Sell at a loss, buy at a discountThe month Jennifer Galdes moved into her condo in the Albany Park section of Chicago, the local paper suggested that the area was up and coming. Six years later, she's still waiting for a Whole Foods.Source: Business and financial news - CNNMoney.com | 28 Sep 2009 | 2:17 am Alistair Darling to detail curbs on bank payBut Lord Mandelson says he can't blame people for thinking the government encouraged what the Chancellor calls bankers' 'greed and recklessness'.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 2:11 am News Digest 9/28/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: Solvay sold its drug unit to Abbott (ABT) foe $6.6 billion. Reuters: Kraft (KFT) will launch a hostile bid for Cadbury. Reuters: The World Bank said not to take the dollar’s role in the global economy for granted. Reuters: Crucell got a $302 million investment from J&J (JNJ) Reuters: The Fed will work with Congress on naming its [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Sep 2009 | 2:04 am Gap co-founder Donald Fisher dead at 81SAN FRANCISCO (Reuters) - Donald Fisher, who co-founded Gap Inc with his wife Doris forty years ago, died on Sunday after a battle with cancer, the clothing retailer said.Source: Reuters: Business News | 28 Sep 2009 | 1:59 am Gap co-founder Donald Fisher dead at 81 (Reuters)
Source: Yahoo! News: Business | 28 Sep 2009 | 1:56 am Sell-off drops Aussie stocksMELBOURNE - The Australian share market finished the day lower as fears about the sustainability of economic recovery sparked a broad-based sell-off.The benchmark S&P/ASX200 index closed down 35.9 points, or 0.76 per cent, at...Source: nzherald.co.nz - Business | 28 Sep 2009 | 1:56 am Wolseley falls into red as jobless tally hits 10,000Wolseley, the world's largest supplier of plumbing and heating equipment, has crashed to a £766 million pre-tax loss following a turbulent year in which it was forced to axe more than 10,000 jobs. Source: Latest Business News from Times Online | 28 Sep 2009 | 1:45 am Germany set for centre-right coalitionGermany was on course for its first centre-right government in 11 years after voters gave chancellor Angela Merkel’s Christian Democratic Union and her Free Democratic allies a wafer-thin majority in parliamentSource: Financial Times - US homepage | 28 Sep 2009 | 1:32 am Asia Markets And Europe Open 9/28/2009Markets in Asia were markedly lower. The Nikkei dropped 2.5% to 10,010. Honda (HMC) fell sharply. The Hang Seng was off 1.5% to 20,697. China Unicom (CHU) and PetroChina (PTR) both fell. The Shanghai Composite fell 2.7% to 2,764. At the open in Europe, the FTSE was up .4% to 5,100. The Daxx was up 1% to 5,639 and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Sep 2009 | 1:26 am Drug maker Abbott Laboratories is expected to buy SolvayA deal for $6 billion in cash could be announced today. The firms already have a sales partnership to market cholesterol drugs.Abbott Laboratories is expected to announce as early as today the purchase of the pharmaceutical business of Belgian plastics and chemical giant Solvay for more than $6 billion in cash, according to sources close to the transaction.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Los Angeles City Hall becomes tech giants' battlefieldMicrosoft and Google are vying for a $7.25-million contract to replace an outdated e-mail system.As Google and Microsoft battle for dominance in technology, a skirmish in Los Angeles City Hall is offering a rare public glimpse into a rivalry that could help determine the fortunes of both companies -- and, quite possibly, how workers in the future will communicate.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Making sense of Twitter's influence on the corporate worldAmong the social media platform's uses, companies are tweeting to sell products and to quickly quell public relations issues, the author of 'Twitterville' writes. ...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am AT & T urges FCC probe of Google Voice serviceThe telecom giant complains that the service is reportedly restricting calls to certain areas with carriers that charge high access fees. Traditional carriers are not allowed to do this.AT&T Inc. is urging the Federal Communications Commission to investigate Google Inc.'s Google Voice service on grounds it may be violating federal telecommunications laws.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Hollywood sees star qualities in classic games and toysThe number of films based on brands is growing as studios, encouraged by the success of 'Pirates of the Caribbean' and 'Transformers,' seek to draw moviegoers the way A-list stars once did. ...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am Solo hybrid drivers may lose carpool lane privilegesStickers allowing them in HOV lanes expire Jan. 1, 2011, but only the most economical may get extensions. The...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am Solo hybrid drivers may lose carpool lane privilegesStickers allowing them in HOV lanes expire Jan. 1, 2011, but only the most economical may get extensions.The days may be numbered for hybrid car owners who have enjoyed traveling solo in California's carpool lanes.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am 'Cloudy' outshines all other films againThe animated movie's weekend take falls only 19%. New releases from Disney and MGM, two studios mired in corporate dramas, had disappointing box-office numbers.Two studios in the midst of intense corporate drama were dealt a blow this weekend as moviegoers largely rejected the new in favor of the familiar.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Hollywood sees star qualities in classic games and toysThe number of films based on brands is growing as studios, encouraged by the success of 'Pirates of the Caribbean' and 'Transformers,' seek to draw moviegoers the way A-list stars once did.When "Chicago" and "Hairspray" producers Neil Meron and Craig Zadan were looking for their next big movie musical last November, the two ended up in what would seem like an unlikely place: the El Segundo headquarters of Mattel Inc.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Investors will look for signals about economyConcern that a recovery may be slower than expected, fueled by last week's downbeat housing and factory data, could put the recent rally on hold this week. But sector reports due out may ease fears.Investors are just not sure where the economy is headed, so the stock market may be in limbo for a while.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am These crusaders bring transparency to governmentGovernment pooh-bahs live by the credo Information is Power. Here are a few of the guerrillas working to overthrow the resulting dictatorship.Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am Los Angeles City Hall becomes tech giants' battlefieldMicrosoft and Google are vying for a $7.25-million contract to replace an outdated e-mail system. As Google and...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am Shamrock Holdings mixes it up with cement maker Texas IndustriesThe Disney family investment company agitates for change at the Dallas building materials supplier and is pushing to place three of its people on the company's seven-member board ...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am Drug maker Abbott Laboratories is expected to buy SolvayA deal for $6 billion in cash could be announced today. The firms already have a sales partnership to market cholesterol drugs. ...Source: RSS feed - channel BNPaperBusiness | 28 Sep 2009 | 1:00 am These crusaders bring transparency to governmentGovernment pooh-bahs live by the credo Information is Power. Here are a few of the guerrillas working to overthrow the resulting dictatorship.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Making sense of Twitter's influence on the corporate worldAmong the social media platform's uses, companies are tweeting to sell products and to quickly quell public relations issues, the author of 'Twitterville' writes.Each Internet fad is followed by a wave of books seeking to explain, analyze and capitalize on the trend of the moment. Self-proclaimed experts churn out guides, surveys and instruction manuals for search, e-commerce and blogs.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am Shamrock Holdings mixes it up with cement maker Texas IndustriesThe Disney family investment company agitates for change at the Dallas building materials supplier and is pushing to place three of its people on the company's seven-member boardIt was founded by the family that built the Happiest Place on Earth. But for many executives on the opposite side of the boardroom, Shamrock Holdings Inc. has been more like a house of horrors.
Source: L.A. Times - Business | 28 Sep 2009 | 1:00 am BofA suspends ACORN commitments: report (Reuters)
Source: Yahoo! News: Business | 28 Sep 2009 | 12:57 am BofA suspends ACORN commitments: report(Reuters) - Bank of America Corp has suspended its current commitments to ACORN Housing, an affiliate of Association of Community Organizations for Reform Now (ACORN), a scandal-hit U.S. liberal grassroots group, the Wall Street Journal said on Monday.Source: Reuters: Business News | 28 Sep 2009 | 12:57 am Yen hits eight-month dollar highThe Japanese yen has hit an eight-month high against the dollar - denting the share prices of many exporters.Source: BBC News | Business | World Edition | 28 Sep 2009 | 12:45 am Wolseley swings to an annual lossBuilding materials group Wolseley reports an annual loss following the continuing woes in the housing market.Source: BBC News | Business | World Edition | 28 Sep 2009 | 12:40 am NZ market starts week strongThe New Zealand sharemarket rose today care of strength in selected leading shares, including Fletcher Building.The rise came even though the Australian market was weaker and after the US market dropped on Friday.The benchmark...Source: nzherald.co.nz - Business | 28 Sep 2009 | 12:36 am Solvay sells drugs unit to Abbott for $6.6 billion (Reuters)
Source: Yahoo! News: Business | 28 Sep 2009 | 12:34 am Chinese demand eases fall in Japanese car productionThe slump in Japan's global car production eased in August as a record month in China for Toyota Honda and Nissan offset dire market conditions elsewhere.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 28 Sep 2009 | 12:30 am Abbott in €4.5bn deal for Solvay drug unitUs group brings five-month takeover battle to an end with the purchase of Solvay’s pharmaceutical company, beating UCB of Belgium and Switzerland’s NycomedSource: Financial Times - US homepage | 28 Sep 2009 | 12:29 am Mixed day for NZ dollarThe New Zealand dollar fell against a strong yen today but it got a boost along with the Australian dollar from comments by Reserve Bank of Australia governor Glenn Stevens.Dealers said it was a mixed session. The NZ dollar rose...Source: nzherald.co.nz - Business | 28 Sep 2009 | 12:07 am One Recovery, but Few Certainties (Pundit Watch)Investment strategies and economic forecasts aren't necessarily incompatible pursuits, but they don't get on well in uncertain times. Pundits pondering the recovery put forth a familiar range of views last week, leaving investors to decide whether to take their cues from market momentum in a rally that may not be sustainable or hope that economic fundamentals will continue to improve, even if there are bumps along an uneven path. Yardeni Research chief economist Ed Yardeni summed up the challenge of wearing two hats in a Sept. 21 note. As an investment strategist, he said he sympathizes with the optimists who see green shoots of recovery turning into green stalks. As an economist, his inner bear growls a bit because corporate profits aren't there, banks aren't lending and jobs are scarce, dampening prospects for a speedy bounce back to growth. He looked on the bright side in his Tuesday comments. "Those who deny that the economy is recovering either aren't paying attention to the data or don't believe what they show," he wrote. But with housing sales figures falling for existing homes and flat for new homes, a decrease in durable goods orders and a period of inherently favorable earnings a year out from the market slump, it's tough to take a stand. "The question for investors is now likely what this recovery means for profits," economist Don Rissmiller of Strategas Research Partners wrote Tuesday. "Investors appear to be increasingly looking for capital spending to lead the recovery," a pretty standard trajectory for a so-called V-shaped recovery that includes a fairly rapid return to growth. But they're still vulnerable to dire data like the Friday news that durable goods orders slipped 2.4%, far worse than the expected 0.3% uptick. Aircraft orders dropped sharply and, even with the cash for clunkers program, auto orders rose only 0.4%. That's going to cut into capital expenditures from businesses, said Ed Hyman, founder of the ISI Group. He wrote Friday that he had cut his third-quarter capex estimate to 1.0% from 4.5% and said there's now downside risk to his 4.0% quarterly GDP growth estimate. Still, most investors understand that although cash is king in a bear market, it's a pauper in a bull market, regardless of whether the rally has legs. "The opportunity cost of holding cash, which pays very little, is high while the economy and markets recover," LPL Financial chief market strategist Jeffrey Kleintop wrote Sept. 21. "We expect growth to continue to recover into next year." But during an uneven recovery, there are contrarian views for every opinion, and it's hard to ignore the Sept. 21 holiday shopping forecast from Deloitte, which called for a spending season on par with that of 2008, one of the worst on record. “Although there are signs that suggest the economy is nearing the end of its darkest days, many consumers remain burdened by restricted credit availability, high unemployment and foreclosures,” says Carl Steidtmann, chief economist with Deloitte Research. “Americans continue to save at historically high rates while also paying down debt, and these factors combined suggest another chilly holiday season for retailers.” David Rosenberg, chief economist and strategist for Gluskin Sheff, says investors have already pushed the sustainable boundaries of what the nascent recovery has delivered. Although the Federal Open Market Committee surprised no one when it left interest rates unchanged and tiptoed around the timing of an exit strategy for the government stimulus, he wrote Thursday that the markets have been a bit too quick to visualize real prosperity. "This is indeed the proverbial ‘sweet spot’ — the economy turning up, no inflation, Fed on hold," he wrote. "My basic point is that the markets are already priced for it, and then some. From the time the S&P 500 bottomed on Oct. 9, 2002, which at the time was also a massively oversold low, to the time that the Fed’s monetary easing program was over on June 30, 2004, the equity market rallied 47%. That is 47% over a 20-month span. We’ve already done 60% in little over six months." The implication is that there's more room for the market to fall than there is to soar. 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Source: SmartMoney.com | 27 Sep 2009 | 10:00 pm Mind the Gap: Similar ETFs, Different ReturnsAt first glance, it’s hard to figure: Two exchange-traded funds follow the same broad class of stocks but beget a huge difference in performance. Both iShares S&P SmallCap 600 (IJR) and iShares Russell 2000 (IWM) track indexes of small firms. But over the past nine years, the S&P SmallCap 600 returned 56 percent, while the Russell 2000 returned 23 percent. Indeed, since 1994 the S&P 600 index has beaten the Russell by, on average, about two percentage points a year, according to a recent study. Rolf Agather, director of business development at Russell Indexes, doesn’t dispute the study’s findings but argues that his firm’s product is a more accurate picture of the small-cap universe. The firm creates its index out of stocks that aren’t big enough to make it into its large- or midcap universe or small enough for its microcap category. S&P is more selective, says Morningstar ETF analyst Bradley Kay, aiming not just for a representative group of small-cap stocks “but also some of the best companies.” Among other requirements, a company generally must have four consecutive quarters of profits to get into the S&P SmallCap 600. The performance gap hasn’t stopped the Russell-based ETF from piling up $10.7 billion in assets, more than twice the S&P-based ETF’s assets. That’s partly because institutions often prefer to use the widely followed Russell index. Those who want the broadest exposure to small stocks might want to follow suit. But investors who keep a close eye on total return might let S&P trim the field for them, says Tom Lydon, president of Newport Beach, Calif.–based money-management firm Global Trends Investments. 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 | 27 Sep 2009 | 10:00 pm Don't take dollar's place for granted: World BankWASHINGTON (Reuters) - World Bank President Robert Zoellick said the United States should not take the dollar's status as the world's key reserve currency for granted because other options are emerging.Source: Reuters: Business News | 27 Sep 2009 | 9:20 pm Dollar Outlook: Kiwi rally may run out of puffThe New Zealand dollar's 45 per cent rally in the past six months may falter amid speculation higher-yielding currencies and equity markets have run too hard, stretching valuations.Five of eight economists and strategists in a...Source: nzherald.co.nz - Business | 27 Sep 2009 | 8:30 pm Fat pay packets still in the private sector - surveyEngineering bosses are among the best paid in the country but public sector bosses aren't the fat cats of public perception, says a survey of chief executive's pay.Remuneration consultants Strategic Pay has released its July 2009...Source: nzherald.co.nz - Business | 27 Sep 2009 | 8:00 pm Kraft could launch hostile bid for CadburyKraft Foods is poised to launch a hostile bid for British candy maker Cadbury, The Observer said on Sunday, citing unnamed sources.Kraft earlier this month made a US$16.7 billion ($23.54 billion) stock-and-cash proposal that was...Source: nzherald.co.nz - Business | 27 Sep 2009 | 7:30 pm Todd Energy to build $65m LPG plantTodd Energy says it will build a $65 million liquid petroleum gas (LPG) plant in Taranaki.The plant to be built at its McKee site, 20km southeast of New Plymouth, is expected to be completed in 12 months.Construction would...Source: nzherald.co.nz - Business | 27 Sep 2009 | 6:30 pm The Caribbean dream just got bigger than everLaunching ships, especially huge luxury cruise ships, can be a tricky business. Preferably, you would want calm conditions, some sunshine, perhaps, to show off your gleaming new ocean-goer. You do not, as a rule, choose to launch it into a storm. Source: Latest Business News from Times Online | 27 Sep 2009 | 6:01 pm Profit figures for big groups suggest China is recoveringThe biggest gearwheels of Chinese industry may soon again be whirring at the vigorous pace seen before the global financial crisis as government stimulus measures and record bank lending propel the world’s third-largest economy back into the fast lane. Source: Latest Business News from Times Online | 27 Sep 2009 | 6:01 pm RBS wealth management assets up for saleRoyal Bank of Scotland (RBS), the taxpayer-backed bank, is selling off part of its asset management division in an attempt to reduce its dependency on the Government. Source: Latest Business News from Times Online | 27 Sep 2009 | 6:01 pm Petrol prices drop againPetrol prices have fallen for the second time in three days, Shell leading the way with a second 4c a litre drop this morning.BP, Caltex and Gull also cut prices at the pump by 4c.Today's cuts bring the total fall in price...Source: nzherald.co.nz - Business | 27 Sep 2009 | 5:52 pm Madoff sons, brother, niece to be sued: report (Reuters)Reuters - Epic swindler Bernard Madoff's two sons, his brother and a niece will be sued this week for $198 million, the trustee winding down the Madoff firm told CBS News' "60 Minutes" broadcast on Sunday.Source: Yahoo! News: Business | 27 Sep 2009 | 5:42 pm Madoff sons, brother, niece to be sued: reportNEW YORK (Reuters) - Epic swindler Bernard Madoff's two sons, his brother and a niece will be sued this week for $198 million, the trustee winding down the Madoff firm told CBS News' "60 Minutes" broadcast on Sunday.Source: Reuters: Business News | 27 Sep 2009 | 5:42 pm Deep water could help fill NZ's energy needsThe drive to run New Zealand on 100 per cent renewable power could get a boost if scientists discover pockets of energy they suspect are buried between 5km and 7km deep.Geologists think there may be enough scalding hot water locked...Source: nzherald.co.nz - Business | 27 Sep 2009 | 5:30 pm EU aviation deal may benefit New ZealandEuropean Union aviation negotiators will look closely at New Zealand's emissions trading scheme while hammering out what could be a ground-breaking deal to open access to Europe.The EU's own emissions scheme will impose costs...Source: nzherald.co.nz - Business | 27 Sep 2009 | 5:00 pm Rally in ‘toxic’ securities set to boost banksThe recent rally in the markets for “toxic” securities could deliver a significant boost to US banks’ third-quarter earningsSource: Financial Times - US homepage | 27 Sep 2009 | 4:50 pm US banks face short-term borrowing rulesUS financial regulators are working on new rules aimed at helping banks avoid the sudden funding withdrawals that doomed Bear Stearns and Lehman BrothersSource: Financial Times - US homepage | 27 Sep 2009 | 4:42 pm Goldman Sachs launches recruiting driveGoldman Sachs has launched an aggressive recruiting drive to build its asset management business at a time when its rivals are pulling back from fund managementSource: Financial Times - US homepage | 27 Sep 2009 | 4:30 pm Pound fall lifts Kraft positionThe weakening of the British currency has placed Kraft in a better position as the takeover battle for Cadbury continuesSource: Financial Times - US homepage | 27 Sep 2009 | 4:30 pm Moody’s hit by short sellingInvestors have lifted short positions in Moody’s, making it one of the sector’s most heavily shorted stocks amid growing scrutiny of the sector by lawmakersSource: Financial Times - US homepage | 27 Sep 2009 | 3:45 pm Show to go on at ITV without acting chief as troubled hunt for leaders continuesBritain's largest commercial broadcaster will be left without clear leadership for many weeks after choosing not to appoint an interim chief executive.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 27 Sep 2009 | 3:11 pm Financial Services Authority reviews bonus plans in wake of Pittsburgh G20 summitThe Financial Services Authority FSA is considering whether to toughen up its muchcriticised rulebook on bank bonuses in the wake of a global agreement by the G20 in Pittsburgh.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 27 Sep 2009 | 3:09 pm Afghans divided over foreign forcesThe bitter legacy left by Nato forces who have found themselves enmeshed in local feuds has widened mistrustSource: Financial Times - US homepage | 27 Sep 2009 | 12:33 pm Wall Street readies for busy week of economic data (AP)AP - Investors are just not sure where the economy is headed. And so the stock market may be in limbo for a while.Source: Yahoo! News: Stock Markets News | 27 Sep 2009 | 11:50 am Northern Rock 'should be mutual'The government is urged to return Northern Rock to its mutual status rather than sell it to a rival.Source: BBC News | Business | World Edition | 27 Sep 2009 | 10:31 am Fuel allowance 'must be claimed'People aged 60 or over are being urged to claim their Winter Fuel Payment allowance as soon as possible.Source: BBC News | Business | World Edition | 27 Sep 2009 | 10:25 am Stocks' rally to be tested by jobs data (Reuters)
Source: Yahoo! News: Stock Markets News | 27 Sep 2009 | 9:36 am Uncle Sam’s Boost for Solar (ASTI, FSLR, ENER)Ascent Solar Technologies (NASDAQ: ASTI) may have a significant win under its belt in the new Army solar pact. The maker of thin-film solar modules has a new contract from the government that could beget more contracts from the government. We have been hearing more and more of pacts being struck from the armed forces [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 27 Sep 2009 | 8:39 am Kraft set to launch hostile Cadbury bid: reportLONDON (Reuters) - Kraft Foods Inc is poised to launch a hostile bid for Cadbury Plc valuing the British confectionery business at around 11 billion pounds ($17.6 billion), a report in The Observer newspaper said.Source: Reuters: Business News | 27 Sep 2009 | 8:32 am Kraft set to launch hostile Cadbury bid: report (Reuters)Reuters - Kraft Foods Inc is poised to launch a hostile bid for Cadbury Plc valuing the British confectionery business at around 11 billion pounds ($17.6 billion), a report in The Observer newspaper said.Source: Yahoo! News: Business | 27 Sep 2009 | 8:32 am
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