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Supermarket 'test rules' tweakedThe UK competition watchdog will press ahead with tough planning hurdles to limit supermarket domination - but has revised its rules.Source: BBC News | Business | World Edition | 2 Oct 2009 | 4:31 am Markets, politicians await Irish E.U. referendumLess than a year-and-a-half after rejecting a controversial treaty designed to streamline the European Union's policymaking process, Irish citizens will vote again Friday amid warnings that failure to ratify the pact could harm the nation's troubled economy.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 4:31 am EU raises anticompetition concerns over BA American Airlines and Iberia tieupEuropean Union competition regulators have raised objections to British Airways' proposed alliance with American Airlines and Spain's Iberia.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 4:30 am EDF eyes sale of UK power networkEDF Energy's electricity distribution network, could be sold by its owner, French power giant EDF.Source: BBC News | Business | World Edition | 2 Oct 2009 | 4:18 am World markets slide ahead of key US jobs report (AP)
Source: Yahoo! News: Stock Markets News | 2 Oct 2009 | 4:16 am IBM (IBM) Goes After Google (GOOG) Apps BusinessGoogle (GOOG) is trying to diversity beyond the search business. One of its most important attempts is to offer low cost applications for PCs. Its Google Apps includes e-mail, calendar, word processing, and presentation functions. The price for the Apps product is $50. Its target is the business user based of Microsoft (MSFT) Windows. While Google [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Oct 2009 | 4:14 am GE looking at partnership or IPO for NBC UniversalNEW DELHI/PARIS (Reuters) - General Electric Co is holding discussions on partnerships or an IPO for its NBC Universal unit, Chief Executive Jeffrey Immelt said, as expectations grow about a deal with cable operator Comcast Corp.Source: Reuters: Business News | 2 Oct 2009 | 4:04 am GE looking at partnership or IPO for NBC Universal (Reuters)Reuters - General Electric Co is holding discussions on partnerships or an IPO for its NBC Universal unit, Chief Executive Jeffrey Immelt said, as expectations grow about a deal with cable operator Comcast Corp .Source: Yahoo! News: Business | 2 Oct 2009 | 4:04 am UPDATE 2-GE looking at partnership or IPO for NBC Universal* Due diligence on Brazil telecom GVT nearly completed-WSJSource: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 4:03 am Evening Standard to be free paperThe London Evening Standard is to become a free newspaper, increasing circulation from about 250,000 to 600,000 per day.Source: BBC News | Business | World Edition | 2 Oct 2009 | 4:01 am Indications: U.S. stock futures slip on caution over payrollsU.S. stock futures dip Friday ahead of the key monthly payrolls report as traders fret that a week of generally negative economic releases could continue.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 4:00 am Is Wall Street warming to Yahoo's Microsoft deal?Wall Street analysts are beginning to warm to Yahoo Inc.'s controversial search deal with Microsoft Corp.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 4:00 am Marriott's Fall Travel Specials for Affordable Seasonal GetawaysBETHESDA, Md., Oct. 2 /PRNewswire/ -- Marriott International, Inc. (NYSE: MAR), one of the world's leading lodging companies, is offering guests the opportunity to take...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 4:00 am Banks and traders threatened by new international tax plan drawn up by IMFThe International Monetary Fund is drawing up plans for an international tax on banks.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 3:59 am Futures Movers: Crude futures decline ahead of jobs reportOil futures fall below $70 a barrel, as economic concerns dominated sentiment.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 3:59 am Obama urges IOC ‘choose America’Barack Obama urges the IOC to choose Chicago as the host city for the 2016 Olympics, promising it will ‘make the world proud’ and help restore US standing in the worldSource: Financial Times - US homepage | 2 Oct 2009 | 3:55 am Tokyo, Hong Kong stocks splash red inkAsian equity markets end sharply lower Friday after heavy losses on Wall Street, with Japan's automakers hit hard by weak September sales in the U.S. and a strong yen.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 3:52 am A grim year for small biz - lending sinks 36%Here's a telling statistic about the toll the recession is taking on Main Street: This year, the government's top small business lending program got loans to 25,000 fewer entrepreneurs than it did last year.Source: Business and financial news - CNNMoney.com | 2 Oct 2009 | 3:51 am China GDP Could Pass US In Two DecadesThe IMF expects China’s GDP growth to be nearly 9% next year and the growth in the US to be less than 2%. In 2008, US GDP was $14.2 trillion. China was in the No.3 spot in the world with a GDP of $4.4 trillion. Japan is now a weak second with a total economy [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Oct 2009 | 3:51 am Goldsmith 'applauds' BAE actionEx-attorney general Lord Goldsmith backs attempts to prosecute defence firm BAE Systems on corruption charges.Source: BBC News | Business | World Edition | 2 Oct 2009 | 3:47 am London Evening Standard is to become a free newspaper182yearold newspaper will increase print run from 250000 a day to more than 600000 said Russian owner.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 3:47 am Manhattan home prices flatteningThe cost of entry onto crowded Manhattan island, one of the most expensive real estate markets in the nation, may have gotten a little steeper in the past three months. Or not.Source: Business and financial news - CNNMoney.com | 2 Oct 2009 | 3:47 am UPDATE 1-EU agency recommends Baxter's H1N1 flu shotLONDON, Sept 25 (Reuters) - The European Medicines Agency recommended Baxter's Celvapan flu vaccine for approval on Friday and said it expected the shot to get a licence from the European Commission shortly...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:35 am Function Drinks Launches Into The Coffee Bean & Tea LeafREDONDO BEACH, Calif., Oct. 2 /PRNewswire/ -- Function Drinks announced today their launch into The Coffee Bean & Tea Leaf, the popular "California born and brewed"Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:33 am Dunkin' Donuts president quitsThe president of Dunkin' Donuts, the chain famous for its filled doughnuts, is to leave the firm at the end of the year.Source: BBC News | Business | World Edition | 2 Oct 2009 | 3:28 am EU: trans-Atlantic airline alliance is illegalEuropean Union regulators said Friday they have charged British Airways, American Airlines and Iberia with breaking antitrust rules by sharing lucrative trans-Atlantic routes. The...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:22 am UPDATE 1-New diabetes drug hits target in late stage study* Bristol-Myers, Astra drug cuts haemoglobin after 24 weeksSource: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:18 am Toyota president expresses regret over fatal crashToyota's president said it was "extremely regrettable" an American family died in a crash in which a floor mat in one of the Japanese automaker's vehicles is suspected as the cause. ...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:16 am Japan jobless rate falls to 5.5 percent in AugustJapan's jobless rate fell and household spending climbed in August _ a double dose of good news for the world's No. 2 economy though it may not last. The unemployment rate unexpectedly...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:15 am Bloomberg On Its Way To Becoming Most Powerful Media Firm In USBloomberg is, according to several reports, the most likely buyer of the largest business magazine in America. BusinessWeek is being sold by McGraw-Hill (MHP) Bloomberg has the balance sheet and editorial staff to support the publication’s $40 million in losses and probably bring them down sharply. Bloomberg today announced that it will set up a joint [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Oct 2009 | 3:15 am House prices 'back to 2008 level'UK house prices have now recovered to the same level as a year ago, according to the latest Nationwide figures.Source: BBC News | Business | World Edition | 2 Oct 2009 | 3:13 am UPDATE 1-Deals of the day -- mergers and acquisitionsOct 2 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Friday. (For Reuters columns on deals, click on [DEALTALK...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:11 am BofA CEO scores $53 million retirementKen Lewis doesn't have a golden parachute, but he's all set for a comfortable landing -- unlike his long-suffering shareholders.Source: Business and financial news - CNNMoney.com | 2 Oct 2009 | 3:11 am Wall St. look to jobs reportU.S. stock futures fell Friday, as investors expressed nervousness ahead of a closely watched report on the labor sector.Source: Business and financial news - CNNMoney.com | 2 Oct 2009 | 3:10 am Superstore site back up for saleThe site of a long-running supermarket planning battle is to be put back on the market with a £3.8m price tag.Source: BBC News | Business | World Edition | 2 Oct 2009 | 3:09 am Market bubbles'The bellboys are handing out stock tips in the lifts'Source: BBC News | Business | World Edition | 2 Oct 2009 | 3:05 am Deadline set for Xstrata to make Anglo bidBritain’s Takeover Panel gives Xstrata nearly three weeks to make a firm bid for rival mining group Anglo American or waive the right to do so for at least six months.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 3:05 am New diabetes drug hits target in late stage studyVIENNA, Oct 2 (Reuters) - An experimental diabetes drug from Bristol-Myers Squibb and AstraZeneca met its main target in a late stage study, achieving significant reductions in glycosylated haemoglobin...Source: RSS feed - channel BNewsBusiness | 2 Oct 2009 | 3:02 am Wall St futures point to weaker start for equities (Reuters)
Source: Yahoo! News: Business | 2 Oct 2009 | 3:01 am Wall St futures point to weaker start for equities (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Oct 2009 | 3:01 am Wall St futures point to weaker start for equities(Reuters) - Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.3-0.4 percent, pointing to a weaker start on Wall Street on Friday.Source: Reuters: Business News | 2 Oct 2009 | 3:01 am A $125 Million Pay Day For Ken LewisWhen Ken Lewis finally leaves Bank of America (BAC) he will get a $125 million goodbye from the financial firm, unless the federal government’s pay czar decides to challenge the package. Most of the Lewis compensation was set long before the big bank got into trouble and had to take $45 billion in TARP funds, so [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Oct 2009 | 2:58 am EU queries airline tie-up plansThe European Commission raises concerns over the transatlantic plans of British Airways, American Airlines and Iberia.Source: BBC News | Business | World Edition | 2 Oct 2009 | 2:54 am EDF wants to sell U.K. distribution businessElectricite de France says Friday that it is looking at options for selling its U.K. distribution business.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 2:43 am London Markets: Insurers, miners front mild losses in LondonInsurance firms and miners decline in London on Friday, with Legal & General shares moving lower after a broker removes the firm from its conviction-buy list.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 2:35 am EU watchdog charges Oneworld airline pactBRUSSELS (Reuters) - A pact to cooperate on schedules and prices between British Airways , American Airlines and Iberia may have violated EU antitrust rules, European Union antitrust regulators said on Friday.Source: Reuters: Business News | 2 Oct 2009 | 2:25 am London shares fall as bid speculation coolsLondon equities fell on Friday, with mining stocks under pressure amid a general move away from risk and after regulators put a deadline on Xstrata's potential bid for Anglo American. The Takeover Panel...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 2:10 am Markets edgy ahead of US jobs dataThere were continued signs of a flight from risk on world equities markets on Friday ahead of important US employment data that is expected to show that the world’s largest economy lost more jobs last monthSource: Financial Times - US homepage | 2 Oct 2009 | 2:10 am Global markets edgy ahead of US jobs reportThere were continued signs of a flight from risk on world equities markets on Friday as concerns grew about the strength of the global economic recovery ahead of important US employment data. September's...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 2:10 am EDF to sell off UK distribution divisionEDF, the French state-controlled nuclear operator, on Friday launched the sale of its electricity arm in the UK, which distributes power to 15m homes in the south-east and east of England.The group, which...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 2:10 am Glorious plunges in HK trading debutGlorious Property Holdings, the Chinese developer, plunged on its first day of trading on Friday, becoming the fifth company whose shares have dropped on their debut in Hong Kong in just over a week.The...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:59 am World stocks tumble, dollar supported (Reuters)
Source: Yahoo! News: Stock Markets News | 2 Oct 2009 | 1:55 am World stocks tumble, dollar supportedLONDON (Reuters) - World stocks fell and the U.S. dollar broadly held firm on Friday as doubts grew about the pace of economic recovery and the week's major data on U.S. jobs loomed large.Source: Reuters: Business News | 2 Oct 2009 | 1:55 am Europe Markets: European shares lower ahead of U.S. jobs dataEuropean shares decline on Friday ahead of a key U.S. jobs report due later in the session.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 1:55 am Media Digest (10/2/2009) Reuters, WSJ, NYTimes, FT, BloombergReuters: The retirement package for Ken Lewis of Bank of America (BAC) may be as high as $125 million. Reuters: US car sales plunged in September with Ford (F) up and GM down. Toyota (TM) and Honda (HMC) also lost sales. Reuters: The CIT (CIT) board approved a restructuring plan. Reuters: Comcast (CMCSA) shares were punished on rumors it [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Oct 2009 | 1:52 am EDF considers sale of British electricity businessEDF the French group which is one of the largest distributors of electricity in Britain is considering selling the UK business.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 1:41 am Asia shares slump on US jobs figuresHONG KONG - Asian shares fell on Friday as disappointing US manufacturing data raised concerns that its economic recovery may not be as fast as previously thought, while the dollar remained firm as investors...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:40 am John Prestbo's Indexed Investor: Make use of ETFs for sector rotationWelcome back to the index-strategy laboratory. This time, we are going to implement sector-rotation strategies using exchange-traded funds.
Source: MarketWatch.com - Top Stories | 2 Oct 2009 | 1:36 am Asia Markets And Europe Open (10/2/2009)Markets in Asia were mostly lower. The Nikkei fell 2.5% to 9,732. The Hang Seng dropped 2.6% to 20,415. HSBC (HBC) fell sharply. PetroChina (PTR) and Sinopec (SNP) also fell. The Shangai Comsite was higher by .9% to 2,779. At the open in Europe, the FTSE fell .6% to 5,019. The Dax was down .6% to 5,520, and the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Oct 2009 | 1:25 am FTSE 100 stocks drop at open (AFP)
Source: Yahoo! News: Stock Markets News | 2 Oct 2009 | 1:23 am Xstrata given deadline for Anglo bidXstrata has been given three weeks to "put up or shut up" on its proposal to merge with rival miner Anglo American by the body that oversees UK mergers and acquisitions.The Takeover Panel confirmed on...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:13 am Xstrata given deadline for Anglo bidThe UK’s Takeover Panel says Xstrata has until October 20 to make a formal offer for its rival or walk away from its would-be merger partner for six monthsSource: Financial Times - US homepage | 2 Oct 2009 | 1:13 am Fall in Japan's unemployment rateJapan's jobless rate unexpectedly fell to 5.5% in August from July's record high of 5.7%, official figures show.Source: BBC News | Business | World Edition | 2 Oct 2009 | 1:11 am Xstrata gets October deadline for Anglo American bid from Takeover PanelXstrata the mining group has been told by the Takeover Panel to make an offer for rival Anglo American in less than three weeks or walk away.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 1:08 am California bill targets mortgage modification counselorsIt would forbid them to collect money from homeowner clients before the client's mortgage is modified and monthly payments are reduced. ...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:00 am Lawmakers would curb Federal Reserve's power, not expand itFed chief Ben Bernanke, appearing on Capitol Hill on Thursday, faced skeptics as he backed the Obama administration plan for an oversight panel that would enhance the central bank's authority.The Federal Reserve has dramatically expanded its role in the economy over the last 18 months, and the Obama administration has proposed enhancing that authority as part of an overhaul of financial regulations.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am New car sales slump after 'cash for clunkers' endsSeptember auto sales drop 23% from a year earlier. GM's plunge 45% and Chrysler's fall 43%; Honda and Toyota also report double-digit slides. Kia and Hyundai have double-digit increases.New-car sales fell in September as the predicted post-"cash for clunkers" slump dragged the U.S. market down to its lowest sales rate in seven months.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am Bad economic news sends stocks into retreatDisappointing reports on manufacturing and jobless claims drive the worst declines in months. The Dow sinks 203 points, and Treasury bond yields fall sharply.For the stock market, the fourth quarter got off to a rough start.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am New car sales slump after 'cash for clunkers' endsSeptember auto sales drop 23% from a year earlier. GM's plunge 45% and Chrysler's fall 43%; Honda and Toyota also report double-digit slides. Kia and Hyundai have double-digit increases. ...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:00 am GE appears ready to hand over control of NBC Universal to ComcastUnder terms of the deal, Comcast would pool cash and its cable channels into a new company that it would control with a 51% stake. GE would contribute NBC Universal and own 49%. ...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:00 am NBC Universal releases retooled plan to add housing development to back lotThe studio tries to address concerns of neighbors and critics that emerged after the proposal was announced three years ago. ...Source: RSS feed - channel BNPaperBusiness | 2 Oct 2009 | 1:00 am Brazil's economy hums along as others struggleGovernment incentives have been working -- at least so far -- to soften the global recession's effects, and Brazilian economists see a recovery coming next year.Finding the discount on a new Renault hatchback irresistible, lawyer Roni Figueiro of Porto Alegre, Brazil, took the plunge, plunking down $22,200 last week for the first new car he has ever owned.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am GE appears ready to hand over control of NBC Universal to ComcastUnder terms of the deal, Comcast would pool cash and its cable channels into a new company that it would control with a 51% stake. GE would contribute NBC Universal and own 49%.After two decades as owner of one of America's storied broadcasters, and five years operating a fabled movie studio, General Electric Co. appears ready to take a smaller part in show business.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am U.S. economy seeing ups and downsConsumer spending and home sales rise in recent months. But other data point to a still-fragile recovery.Government stimulus programs have provided a jolt of life for home sales and consumer spending in recent months, according to data released Thursday. But the nascent economic recovery remains fragile as consumer delinquencies hit record highs and weekly jobless claims rise more than expected.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am David Letterman admits to affairs, says he was victim of $2-million extortion attemptThe CBS talk show host tells viewers that a person had threatened to expose affairs he had with staff members. An arrest has been made.Talk show host David Letterman said Thursday that he was the victim of a $2-million extortion attempt related to his sexual relationships with staffers on CBS' "Late Show With David Letterman."
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am California bill targets mortgage modification counselorsIt would forbid them to collect money from homeowner clients before the client's mortgage is modified and monthly payments are reduced.Consumer advocates and a Santa Barbara lawmaker are urging Gov. Arnold Schwarzenegger to sign a bill that would protect homeowners from predatory firms that collect advance payments after bragging about their ability to persuade lenders to lower monthly mortgage bills.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am 2010 Range Rover: I'm besotted, but how long can the gas guzzler last?Look, I'm not immune to the subtle charms of enormous. Barreling down the road in a Range Rover -- big as a barn and about as aerodynamic -- feels really good.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am NBC Universal releases retooled plan to add housing development to back lotThe studio tries to address concerns of neighbors and critics that emerged after the proposal was announced three years ago.NBC Universal on Thursday relaunched its proposal to add a large housing development to its famous back lot in the San Fernando Valley, trying to address concerns of neighbors and critics that emerged after the plan was announced three years ago.
Source: L.A. Times - Business | 2 Oct 2009 | 1:00 am U.S. September auto sales plunge; GM, Chrysler hit hard (Reuters)
Source: Yahoo! News: Business | 2 Oct 2009 | 12:55 am U.S. September auto sales plunge; GM, Chrysler hit hardDETROIT (Reuters) - U.S. auto sales tumbled by 23 percent in September as showrooms emptied after the government-funded boom from the "cash for clunkers" program, with General Motors Co and Chrysler hardest-hit.Source: Reuters: Business News | 2 Oct 2009 | 12:55 am Toyota chief laments weak dollar as profit-busterTOKYO (Reuters) - The head of Toyota Motor Corp on Friday called the current dollar-yen rate "very tough," saying the weak U.S. currency made it difficult to return to profit on an unconsolidated level.Source: Reuters: Business News | 2 Oct 2009 | 12:49 am UK advertising market won't recover until 2011 Carat forecastsCarat the media agency which is part of UK advertising group Aegis predicts we will have to wait until 2011 before the UK advertising market recovers.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 12:38 am House prices at highest level for a yearHouse prices rose for the fifth month in a row during September according to new figures from Nationwide Building Society.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 12:32 am British house prices rise for fifth month Nationwide reportsBritish house prices rose for a fifth month running to turn flat on the year in September the Nationwide Building Society said on Friday.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 12:29 am NZ market falls over 1 per centThe New Zealand sharemarket tumbled today but not as much as many other markets as investors started doubting the recovery story.The benchmark NZSX-50 index closed down 35 points, or 1.099 per cent, at 3148.859. Turnover was worth...Source: nzherald.co.nz - Business | 2 Oct 2009 | 12:10 am Asian stock markets hit by weak US jobs dataAsian markets fell sharply on Friday as weakerthanexpected reports about US jobs and manufacturing heightened worries about an anaemic recovery in the world's largest economy.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 2 Oct 2009 | 12:04 am Final salary pension scheme deficits reduced by 20pcThe stock market rally has helped to cut pension deficits by 20pc.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 1 Oct 2009 | 11:44 pm NZ dollar closes under US71cThe New Zealand dollar slipped to a 10-day low today as equity markets tumbled and investor optimism dissipated.The NZ dollar was at US71.20c at 5pm from US72.12c at the same time yesterday. It slipped below US71c to around US70.80c...Source: nzherald.co.nz - Business | 1 Oct 2009 | 11:28 pm CIT launches debt-swap plan, warns about bankruptcyNEW YORK (Reuters) - CIT Group Inc launched on Thursday a debt-exchange plan that the struggling lender to small and mid-sized companies hopes will prevent it from filing for bankruptcy.Source: Reuters: Business News | 1 Oct 2009 | 10:05 pm CIT launches debt-swap plan, warns about bankruptcy (Reuters)
Source: Yahoo! News: Business | 1 Oct 2009 | 10:05 pm 4 Smart Books: Life Lessons (Consumer Action)
We Americans have selective memories about the past yet we’re always eager about the future. Here are four books we’ve chosen that look at what Americans used to be like, what we are like now and how we might be able to figure out what happens next. The books range from an analysis of our hopes and fears, to a game-theory expert’s tips on predicting the future, to an economist’s advice on dealing with daily life and financial planning, to a personal look at the social and cultural scene of New York in the 1970s. By Dr. Frank I. Luntz Everyone from store owners to managers at corporations wants insights into how Americans think in order to increase business and retain employees. This book, by Frank I. Luntz, draws on a decade’s worth of interviews—over 25,000 in person and another one million phone surveys -- to offer concrete data. The book is divided into seven chapters, each with thought-provoking findings. Topics range from simple daily tasks to job satisfaction to what we look to in religion and what we hope for in retirement. There’s even a chapter on what the coming generation of 2020 will think of today’s cultural and business leaders. Given the structure, it is tempting to jump back and forth looking for interesting tidbits throughout the book. But given the current job market, it is worth dwelling on the chapter that deals with the workplace. Luntz has advice on how both employers and employees should approach work, as well as some management rules: More training is better than less, more conversation with employees is better than less and, most important — avoid surprises. One of the most unexpected findings is that people would like to be entrepreneurs: 80% of Americans would rather be the owner of a small business than the CEO of a large corporation. The implications for bosses: Workers need to feel empowered. Luntz writes in clear language that’s free of jargon and marketing lingo, and his book is an engaging egghead page-turner for employees, managers and even investors. Who doesn’t want to know what makes us tick? By Tim Harford At the beginning of this entertaining collection of how-to economic and lifestyle advice, Financial Times columnist Tim Harford asks whether economics can make you happier. Well, if it focuses on real-life problems instead of, say, the mathematical probabilities of certain vague behavioral tendencies among a faceless statistical population, then maybe yes. Using the format of an advice columnist, Harford dispenses practical, often humorous, tips on such topics as whether coming into work early will help get one a raise (probably not), whether a wealthy man should express his values by investing in an ethical fund (it won’t make a difference, since so many other investors won’t follow his lead), or if a new parent should create a tax-free trust fund for his child when he’s worried that she’ll blow the money when she comes of age (raise her well and try not to be so controlling). Harford’s book may not help you pick the next hot investment prospect, but it’s likely to give you food for thought about some of the irritations and nagging questions of daily life.
The Predictioneer’s Game: By Bruce Bueno de Mesquita What investor doesn’t want to know the outcome of everything, from something as simple as the winner of Sunday’s football game to the next hot stock? This book, by a professor of politics at New York University who’s also a game-theory expert, looks at how self-interest can help people think more strategically about business and investing. He demystifies game theory, which among other things is a way of looking at the world through the eyes of others. In his view, people compete always, and always do what they think is in their best interests. The book aims to show a person how to think strategically about what his opponents want — and how he might react to their actions. For example, if you are shopping for a new car, it helps to know beforehand what make and model you want and be willing to do some homework/phonework. Call all dealerships within a 50-mile radius, telling each salesperson you’ll tell the next dealer the price you’ve been quoted; that will set up an auction of sorts where dealers compete to give you the best bid. Not all of Bueno de Mesquita’s examples are that nuts-and-bolts practical, but his book makes for enlightening, if occasionally dense, reading. “The Predictioneer’s Game” is kind of like Machiavelli’s “The Courtier” for a millennial generation: ruthless and self-serving, yet driven by statistical modeling. By Edmund White An age defines itself by politics but also by art. The Elizabethan era had Shakespeare and Spenser. The Victorian age boasted Dickens and Trollope, Thackeray and Eliot. That much-maligned decade, the 1970s, had a host of creative souls too, and may be remembered as much for people like choreographer George Balanchine and theater artist Robert Wilson, as for the New York fiscal crisis or the Watergate scandal. In this entertaining memoir and social history, Edmund White gives us a particularly vivid impression of New York City in the '70s, as well as one writer’s beginnings among literary strivers high and low. White takes us through what it’s like to be a writer with ambition and spot-on portraits of literary giants such as Nabokov, critics including Susan Sontag and once-exalted writers such as Harold Brodkey. White’s writing is fresh, and the 1970s in Manhattan (with stops in Italy and San Francisco) come alive. For anyone who wonders about the way we live now, this book shows it’s a result of how we lived then, through the eyes and experiences of an astute writer. 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 | 1 Oct 2009 | 10:00 pm What'll Move the Needle on Unemployment? (Consumer Action)Federal Reserve Chairman Ben Bernanke said last month that the recession is “very likely over,” but that the recovery isn’t likely to create many jobs in the near-term. The Bureau of Labor Statistics is set to release its monthly employment report Friday – and economists are not upbeat. At 9.7% for August, the unemployment rate is at its highest level in 26 years. Consensus estimates project a bump up to 9.8% for September. Economists say employment is a lagging indicator, so although the recession might be winding down or even technically behind us, hiring will take longer to catch up. “The hole in the labor market is so enormous,” says Heidi Shierholz, a labor economist at the Economic Policy Institute, a nonpartisan think tank in Washington, D.C. “In order to fully fill in that hole in two years, we’d need to add over half a million jobs every month between now and September 2011.” Moody’s Economy.com, which provides economic research, doesn’t expect hiring to ramp up in earnest until 2010. So what will it take for this crucial economic indicator to start looking up? More government stimulusThe federal fiscal stimulus package passed in February prevented the economy from worsening, Shierholz says, but the gap in the labor market is so wide that the $787 billion stimulus is not enough to close it. One option is for the government to expand its safety-net programs, including further extensions of unemployment benefits and Cobra subsidies. This won’t directly impact hiring, but it will help those affected by the downturn keep their purchasing power, and in a sense create demand that could curb further layoffs. “Getting money into the hands of people who are the most cash-strapped – they will have no choice but to spend the money immediately, and that’s what we need,” Shierholz says. Spending on certain industriesThe stimulus package allocated billions of dollars for tasks like upgrading the country’s infrastructure, weatherizing schools, retrofitting buildings and implementing electronic medical record systems. “We’re likely to see more hiring in those industries,” says Sophia Koropeckyj, a director at Moody’s Economy.com. But much of the spending on those initiatives won’t happen until next year – so a hiring boost in those sectors won’t be seen for a while. The larger question, though, is how big the impact will be, she says. “I don’t think it’ll be sufficient to offset a lot of what’s going on in the private sector, but it will provide that first boost.” Dollar continues to fallInventories have been drawn down to such an extent that manufacturers are being called into service to help restock shelves – in part because of the falling dollar. A weak greenback usually makes U.S. goods more attractive abroad. And an increase in exports will spur more manufacturing activity – and hiring. “The dollar has been falling for a few months, so maybe by early next year we’ll start to see benefits from that” in terms of manufacturing-related jobs, says Dean Baker, a co-director at the left-leaning Center for Economic Policy and Research. Tax credit for hiringAnother idea the government might consider is a tax credit for employers as a way to encourage hiring, Baker says. In Germany, the government now offers tax credits to companies that maintain the same number of employees but cut their hours. Assuming the demand stays the same, companies would need to hire more workers to make up for the labor loss. (Suppose the government gave employers 10% of their workers’ compensation and cut back their work hours by 10%. If the employer sees the same demand they did before, then they would hire more employees to shoulder the load.) 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 | 1 Oct 2009 | 10:00 pm P&C Stocks: Boring, but Plenty of UpsideTHIS HASN'T BEEN A GREAT YEAR FOR MANY "SAFE" stocks because aggressive investors have bet on turnaround candidates and those that may benefit directly from a recovering economy. Property-and-casualty insurers probably are the safest major part of the financial sector, thanks to their strong balance sheets and ample earnings. Their stocks, however, have trailed the market this year, after outpacing it in 2008, as Wall Street favors formerly beaten down financials, including life insurers, securities firms and banks. Several major P&C stocks are down in 2009, including Allstate (ALL), Ace (ACE), Chubb (CB) and W.R. Berkley (WRB). The P&C stocks look attractive; most trade for single digit multiples of estimated 2009 profits while commanding little or no premium to book value. Compare that to many bank stocks that have surged as investors bet on a profit revival that may not arrive until 2010 or 2011. "The group is not a bad place to be," says Cliff Gallant, an analyst at Keefe, Bruyette & Woods. "You can buy good franchises at good prices." He sees most companies generating respectable, low-double-digit returns on equity this year, while producing similar increases in book value. The P&C stocks could rise 20% in the next year, based on book-value growth and higher valuations, relative to book value and earnings. Gallant favors Chubb, Ace, and Bermuda-based reinsurers Everest Re (RE) and PartnerRe (PRE). A case can be made for most of the major P&C insurers and reinsurers. These companies should see modest catastrophe losses this quarter because of a quiet Atlantic hurricane season. And most emerged in decent shape from the credit crisis because they invested conservatively -- sticking largely to high-grade corporate debt, municipal bonds and mortgage securities. The main investor concern is that pricing remains weak in many commercial insurance sectors -- including property, workers compensation, and directors and officers -- and that a much-anticipated "hard market" of rising premiums might not arrive in 2010. Gallant estimates that pricing is flat to down about 5% this year -- not great, but better than the year-over-year declines of 10% to 20% experienced in 2008. Many insurers see an opportunity to take business from a wounded American International Group (AIG), once one of the globe's largest P&C insurers. The downside from AIG's woes is that it has been said to be cutting rates, undermining rivals' efforts to lift pricing. William Berkley, the outspoken founder and CEO of W.R. Berkley, which was profiled favorably a year ago in Barron's ("The Insurance Market's Other Maverick," Sept. 29, 2008), has said that he thinks the industry is underpricing 2009 business and that much of it ultimately will prove unprofitable, although the recognition of potential losses will take time because reserves often are established long before claims come in. Companies like Chubb and Travelers (TRV) have seen their bottom lines bolstered by reserve releases from prior years, the result of conservative underwriting policies. Reserve releases are welcome events, but do mean that current reported profits overstate underlying earnings power. Low bond yields cut into investment income. Bulls argue that soft pricing and reserve releases already are reflected in depressed P&C stock prices. CHUBB NOW TRADES near $49, 1.2 times its book value, and about nine times estimated 2009 profits of $5.38 a share and projected 2010 earnings of $5.34 a share. "Chubb is a conservatively run, high-quality company that has bought back stock all through the financial crisis," Gallant says. He carries an Outperform rating on the shares and a $57 price target. W.R. Berkley, a well-managed insurer with a strong underwriting record, now trades around 24, or 1.2 times book value. It fetches about 10 times this year's estimated profits. Ace, headed by Evan Greenberg, the son of former AIG CEO Hank Greenberg, is emerging as a global insurer that should take business from AIG. Ace's shares, at 50, trade for about book value and for under seven times this year's estimated earnings. The Bermuda reinsurers are even cheaper than so called primary insurers like Chubb and Travelers, with most reinsurers trading below book value and for about seven times this year's expected earnings. The Bermuda companies are dogged by pricing concerns, earnings volatility stemming from catastrophe exposure and fear that the U.S. may take aim at some of their favorable tax breaks. Barriers to entry also are low. The reinsurers, however, should have a strong 2009 given the light hurricane season and solid reserves. Gallant favors Everest Re, now around 85, a slight discount to book value of $91 a share and eight times this year's projected earnings. The analyst has a $95 price target. PartnerRe, at 73, trades at book value and for seven times estimated 2009 profits. Gallant carries an $88 price target. RenaissanceRe (RNR) usually commands one of the highest price/book ratios in the sector because it consistently has produced some of the highest returns. Its shares look appealing at 53, 1.2 times book value and six times projected 2009 profits. P&C insurers aren't glamorous. Still, many investors would be happy with potential gains of 20%, plus dividends, over the next 12 months, given the group's limited downside. If insurance rates harden, the upside could be even higher. Sometimes, boring can be good.
The Bottom Line
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Source: SmartMoney.com | 1 Oct 2009 | 10:00 pm Crafty Ways Restaurants Cut CostsWhen it comes to dining out, Kevin Moll is the kind of frugal patron restaurant owners would love to see more of. The father of two from Denver always passes on the cream and sugar. He never pours a blob of ketchup next to his fries. Even better, after enjoying a plate of barbecued ribs, he usually prefers to wipe his saucy fingers with a cloth napkin, since the cleanup job would require at least three of the paper variety. And don’t even get him started on carbonated beverages. This is a guy who prefers cola a little watered down. With hard times still taking a bite out of restaurant profits, more Kevin Molls are turning up at their tables—not as patrons but as professional nitpickers. The 50-year-old CEO of National Restaurant Consultants is one of a burgeoning wave of efficiency experts who focus on restaurants, checking for unused half-and-half and testing the syrup level in fountain drinks. While no one tracks the number of these professionals in the restaurant field, the Labor Department says there are now some 678,000 efficiency gurus working to cut waste and maximize profits across a wide range of industries, double that from a decade ago. Moll and his food-service brethren do it by carefully pricing out a kitchen’s every move—like making ranch dressing every three days instead of daily, which can shave prep time by 15 to 18 minutes. They help fine-tune recipes to economize on ingredients. (Taking olive oil out of the marinara sauce saved one chain $17,000 a year.) And they “engineer” menus to spotlight the highest-margin offerings. Forget soda; iced tea costs a restaurant as little as a nickel a glass. And so they turn to Moll and his ilk, whose secret sauce of savings tactics can be traced back decades. The modern-day efficiency movement, largely thought to have originated in Japanese car factories after World War II, took off on these shores after American giants like Motorola [MOT] and General Electric [GE] began famously boosting profits with similar practices in the 1980s and ’90s. Other industries took note—and a growing cadre of consultants followed. If you’ve traveled in the past few months, you’ve probably noticed their handiwork: disappearing mini shampoo bottles in the hotel bathroom, fewer complimentary magazines in the airline seat back. Such ideas might seem like small potatoes to some, but Moll and his team of experts have come up with enough tips and tricks to fill a 175-page bible on how to run a profitable eatery. For his clients, the often-tiny cuts add up, generating savings or revenue-boosting ideas that goose margins, on average, by 15 percent. “Operating a restaurant,” reads one passage of the guide, “is a game of pennies.” Moll learned, when running his own bar and grill two decades ago, that managing an eatery is like navigating “a boat full of holes.” And the trim, java-fueled consultant—running on four to five cups daily—is nothing if not a time-is-money, tight-ship kind of guy. He records any passing work inspiration (“note to self”) on his cell phone, even while walking his dog. In his clutter-free office, the only papers visible are arranged in a compact stack, perfectly parallel to the edge of the desk. And while driving his pristine white Cadillac between tightly scheduled appointments, he admits that he’s called the city’s 311 hotline more than once to report street garbage that needs removal. Clearly, no detail is too small. It’s an attitude that comes in handy in his work, like when Moll and his firm recently helped launch Organixx, a casual, quick-service eatery in downtown Denver. To project an eco-friendly vibe, it features not only the requisite recycled napkins but also bamboo tabletops, a hardwood floor made from recycled furniture scraps, and compostable straws and utensils. (Deliveries are often made via skateboard.) Diners have more than two dozen menu items to choose from, but many end up ordering the Asian stir-fry salad, a mix of veggies, crunchy noodles and tofu, chicken or beef, drizzled with toasted-sesame vinaigrette. The most popular salad on the menu, it’s also one of the most profitable. “It doesn’t happen like that by accident,” says Moll. Remember the old home-buying adage “location, location, location”? Relying on studies that track “eye flow” across menu pages in elaborate arrow-filled diagrams, Moll counsels his clients to spotlight higher-margin items in prime menu real estate. The Asian stir-fry, with ingredients that cost as little as 24 percent of the menu price, holds pride of place at the top right corner, while the grilled salmon burger (cost of ingredients, $2.78; price, $9) is intentionally buried at left center, the menu equivalent of Siberia. “The menu drives everything,” says Moll—from an eatery’s decor to the length of time it takes to execute a single dish. In fact, some potential recipes at Organixx have been vetoed just because they couldn’t be put together by a cook standing in a single spot, with all the ingredients within arm’s reach. Indeed, the biggest cost cutting usually happens behind the swinging doors. To help keep food costs within a healthy 24 to 35 percent of overall expenses, Moll brought in an on-site drill sergeant. Mary Putman, who paces the kitchen prep area, pokes at plates to make sure bread crusts are intact and salad mounds don’t lean too far to one side. When red peppers triple in price, she buys more zucchini to sub into the stir-fry and salads. If a line cook takes more than six minutes to prepare an order, she points sternly at her watch. Most important, she makes sure they’re measuring every ounce of food instead of just eyeballing ingredients. Constantly nagging them to “quit heaping the scoop,” Putman says a big part of her job “is pulling food off the line.” Which may leave some diners, well, a little hungrier than others. While all of Organixx’s sandwiches cost $9, some are a little less generously proportioned. Eyeing the egg salad? You’ll get an eight-ounce scoop. But order the rock shrimp salad and your filling weighs only five. (The reason? Moll’s firm suggests that each dish cost between 22 to 30 percent of what it ends up selling for—and eggs are cheaper than shrimp.) Erwin Chang, the owner of Organixx, acknowledges “it’s a very delicate decision” to change the portions, but it’s not hard to see his point of view as he describes the challenges of running a restaurant in this economic climate—especially when all those organic ingredients and other green And hey, at least he’s not holding back on the water. That’s a strategy Moll recommended to another of his clients, Mici Handcrafted Italian, a cheerful, contemporary joint half a mile down the road from Organixx. Eager to expand to a second location, this family-owned pasta and pizza eatery hired National Restaurant Consultants to help shave operating costs. But Mici’s owners were loath to change or cut back on menu items like its famed hand-rolled meatballs, so Moll had to turn to the eatery’s beverage lineup to find savings. In addition to tweaking Mici’s wine list, Moll came up with a 10-point game plan for fountain drinks. Selling some 13,000 units a year, sodas still weren’t delivering any profit, according to co-owner Michael Miceli—even though they typically cost the restaurant only a dime a glass. Some of the most effective moves Moll recommended include cutting out the middleman syrup supplier and offering only one size drink instead of three. Goodbye, costly cups. But one tip comes with a spritz of controversy: Don’t automatically serve patrons water, so they’re more likely to order soda, beer or wine. Helen Rosner, who blogs about the restaurant industry at MenuPages.com, calls the practice “one of the craftiest I’ve heard of”—and says she’s seeing more eateries do it. Victor Gielisse of Culinary Institute of America, on the other hand, calls it “the socially responsible thing to do given our environment today.” For his part, Miceli simply says, “We ask them what they want to drink. If they want water, we give water.” It certainly hasn’t hurt the bottom line; implementing this and other tips from Moll’s 32-page “operations analysis” has goosed revenue by 50 percent a week. In the world of kitchen cost cutting, that’s more than a few pennies. 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 | 1 Oct 2009 | 10:00 pm The Diaper Indicator: Why Babies Bode Well for U.S. (By the Numbers)America is remarkably fertile for a rich country. Its women produced 2.12 babies apiece last year, on average. On the other hand, Korea and Japan fare far better in car production than reproduction, with fertility rates of 1.19 and 1.34, respectively. Germany, Italy and Spain are running short on new Maximilians, Alessias and Alejandros, with rates below 1.5. The U.K. is relatively blessed with a fertility rate of 1.96 and France spends mightily on family perks to achieve a 2.02. But all rich countries except for the U.S. and Ireland fall short of the critical replacement level of 2.1, which decides whether a population grows or shrinks, absent immigration and changes to mortality. The world is growing old. Since around 1870, citizens of developed countries have gradually lived longer and bred less. The median age for all nations has climbed to 29 from 25 since 1950. It will jump to 38 by 2050, according to the United Nations, and it will be held that low only by poor countries, which contribute 95% of the world’s population growth. Germany will reach a median age of 52 by 2050. Japan will be 55 and Italy 51. France will look relatively sprite at 45, but America, the youngster of rich nations, will not yet be 42. It’s not especially clear why American women are keener on motherhood than their counterparts in other countries. One theory credits America’s fairly flexible labor force, which allows women to leave and re-enter jobs with relative (if not absolute) ease. Another theory holds that Americans are generally supportive of working moms, which makes procreation more affordable. Also, note that birth rates in general tend to rise during periods of strong economic growth and fall during downturns, so early numbers for 2009 suggest U.S. fertility is down a touch—but the lead over peer nations is still wide. There’s more at stake here than a steady supply of toothless smiles and strong demand for diapers. For nations, median ages are crucial in deciding the long-term affordability of social programs. Whatever the changes to America’s health-care and public pension programs in coming years, the young will surely pay for the old, as they do around the world. More working-age citizens within a population means a lighter burden for each, all else held equal. I point this out as further evidence that America is financially troubled but not nearly doomed. Against a basket of six major currencies including the euro and yen, the dollar fell 4.3% in the third quarter after a 6.2% decline in the second quarter, seemingly on fears that the government will substantially dilute the currency to pay its mounting debt. I recently argued here that selling in the U.S. dollar seems overdone. America’s debt is growing far too quickly, and much of the money is being spent on folly, like cash incentives to buy houses and cars, which perversely tempt consumers who have overspent on just such items in recent decades to spend more. But America’s debt held by the public is still relatively affordable at 49% of its gross domestic product, vs. 54% for Spain, 65% for the U.K., 75% for France and Germany and 186% for Japan. Don’t read this as a rally call for a particular investment class. Stock prices still look too high to me. Houses are still a touch too expensive in most markets. Gold isn’t the safe haven it’s made out to be. Dollars seem cheap, so savings accounts look like a better deal than their paltry yields suggest. But quibbling over valuations aside, the U.S. remains an excellent place to invest for coming decades. The economic fashion of the moment is to say the country is past its prime. An army of tiny, gurgling workers-to-be says otherwise. 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 | 1 Oct 2009 | 10:00 pm Broker Talk: When Will the Fed Raise Rates? (Broker Talk)
Investors are beginning to wonder when the Federal Reserve will raise interest rates. Judging by last week’s Fed meeting, it probably won’t be anytime soon, these brokerages say.
Who’s Talking: The Wells Fargo Securities Economics Group 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 | 1 Oct 2009 | 10:00 pm Super Fund says it failed to pick 'contagious effect' of crisisThe New Zealand Superannuation Fund failed to predict the "contagious effect" of the financial crisis on its assets but recovered ground because of its focus on diversification, Guardian's chairman David May says.The fund, which...Source: nzherald.co.nz - Business | 1 Oct 2009 | 9:30 pm Dairy boom helped when recession hit, says reportA 58.3 per cent jump in income for the dairy industry underpinned a 7.1 per cent increase in income for all industries in the 2008 financial year, according to Statistics New Zealand Annual Enterprise Survey data released this morning.The...Source: nzherald.co.nz - Business | 1 Oct 2009 | 7:30 pm Strong dollar "very important": GeithnerWASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Thursday that a strong dollar was very important to the United States and the rest of the world needs to be convinced Americans will be more thrifty in future.Source: Reuters: Business News | 1 Oct 2009 | 7:27 pm Twitter CEO's penthouse for saleLate Thursday afternoon Twitter CEO Evan Williams tweeted "Buy my loft...It's a steal!" And with that, the listing went viral.Source: Business and financial news - CNNMoney.com | 1 Oct 2009 | 6:48 pm Fed officials: Economy mending, but weakness persists (Reuters)Reuters - Federal Reserve officials said on Thursday that while the recession-battered economy is on the mend, it will be weak for a while and the Fed is likely to keep its extensive support policies in place for a while.Source: Yahoo! News: Business | 1 Oct 2009 | 6:36 pm Fed officials: Economy mending, but weakness persistsNEW YORK/MACON, Georgia (Reuters) - Federal Reserve officials said on Thursday that while the recession-battered economy is on the mend, it will be weak for a while and the Fed is likely to keep its extensive support policies in place for a while.Source: Reuters: Business News | 1 Oct 2009 | 6:36 pm BofA scrambling; strategy for new CEO questionedNEW YORK (Reuters) - Bank of America Corp's board of directors is considering hiring a short-term chief executive, a move that signaled CEO Kenneth Lewis' plan to depart caught the bank flat-footed.Source: Reuters: Business News | 1 Oct 2009 | 6:20 pm Kiwi dollar falls as US pessimism returnsThe New Zealand dollar sank below 72 US cents after lacklustre manufacturing data in the US eroded optimism about the global economic recovery and encouraged investors to divest higher-yielding, riskier assets.The US Dollar Index,...Source: nzherald.co.nz - Business | 1 Oct 2009 | 6:00 pm US welcomes advance in Iran talksPresident Barack Obama hailed what he said was a tentative agreement in Geneva that could diminish tensions over Tehran’s nuclear programme after the most extensive US-Iranian talks in 30 yearsSource: Financial Times - US homepage | 1 Oct 2009 | 5:30 pm Shares fair value, say half of NZ fund managersHalf of leading portfolio managers think New Zealand shares are fairly valued, up from 25 per cent in the June quarter and none the quarter before that, survey results show.Russell Investments' investment manager outlook survey...Source: nzherald.co.nz - Business | 1 Oct 2009 | 5:30 pm EU regulators issue objections to BA tie-upThe fate of British Airways’ planned venture with American Airlines and Spain’s Iberia drew a step closer to resolution, after European competition authorities issued their list of concerns for the proposed transcontinental tie-upSource: Financial Times - US homepage | 1 Oct 2009 | 5:16 pm US car sales close to year lowUS car and light truck sales came close to plumbing new 2009 lows in September, with weak consumer demand exacerbated by the expiry of cash-for-clunkers scrappage incentives and unusually low inventories of some popular models.Source: Financial Times - US homepage | 1 Oct 2009 | 5:07 pm Femsa looks to shed beer divisionFemsa, the Latin American beverage giant, is in preliminary talks sell its beer business to either SABMiller or Heineken as it looks to shed beer brands such as Dos Equis and Sol and focus instead on its Coca-Cola operationsSource: Financial Times - US homepage | 1 Oct 2009 | 5:03 pm Bryers loses bid to beat bankruptcyFormer Blue Chip boss Mark Bryers is now a bankrupt.By his own estimation, the founder of the failed investment scheme owes a long list of creditors $173 million.Lawyers representing eight of those creditors, collectively...Source: nzherald.co.nz - Business | 1 Oct 2009 | 5:00 pm BofA lines up candidates to replace chiefBank of America’s board of directors will meet to begin the process of selecting a successor to Ken Lewis as chief executive, with potential candidates including several outside executives with previous experience at the lenderSource: Financial Times - US homepage | 1 Oct 2009 | 4:57 pm SFO seeks go-ahead for BAE chargesThe Serious Fraud Office has confirmed it is to press for criminal charges against BAE Systems over arms deals to countries in eastern Europe and AfricaSource: Financial Times - US homepage | 1 Oct 2009 | 4:42 pm Bernanke: Fed Should Not Be Some 'Untrammeled Super Regulator'By Caitlin Kenney Federal Reserve Chairman Ben Bernanke is expressing support for the idea of having a council of regulators monitor systemic risk. In testimony before the House Financial Services Committee today, Bernanke said the Fed does a good job of monitoring the country's largest financial institutions but could use help watching the broader economy. However, he was quick to defend his agency when Representative Paul Kanjorski, D-Penn., said he was glad to see Bernanke was "not supportive of greater powers for the Federal Reserve." Bernanke responded: There is not really a change. I think there has been some misunderstanding. We have never supported and the administration has never supported a situation in which the Fed would be some kind of untrammeled super regulator over the whole system. That is not what has ever been contemplated. The original administration proposal proposes a council, and we support the council. We think it has a very valuable role to play. We think underneath the council, each of the agencies, including the Fed but also including the SEC and others, should be looking at the systemic implications of their actions and working together through the council to look at the whole system. We have never objected to the council. The Obama administration has been criticized for parts of its of its financial regulatory reform which some say would give the Fed too much power. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Oct 2009 | 4:37 pm Dodge traffic in a teeny tiny carSource: Business and financial news - CNNMoney.com | 1 Oct 2009 | 4:35 pm Shares fall back in early tradeThe New Zealand sharemarket fell back in early trading after global stocks tumbled.Around 10.15am the benchmark NZX-50 index was down 27.02 points to 3156.84, more than reversing yesterday's 22.8-point gain.Overnight investors...Source: nzherald.co.nz - Business | 1 Oct 2009 | 4:33 pm Write-Offs: 10.01.09$$$ A (potential) $53 million retirement score for Ken Lewis [Fortune] $$$ BofA's Merrill Lynch Legacy: The 7th Floor [TBP] $$$ Matthew Goldstein: Sheila Bair's Pandit-less Summer [Reuters] $$$ Thousands Of Bugs Set Loose In Greenwich [Daily Intel] $$$ Jim Chanos For SEC Chairman [JeffMatthews] $$$ The Good News And The Really Bad News [AR] 
 Sponsored Topics: Merrill Lynch - Bank of America - Ken Lewis - Matthew Goldstein - Business Source: Dealbreaker | 1 Oct 2009 | 4:32 pm Weak competitors have larger SME's smacking lipsThe most common opportunity to emerge from the economic recession is the chance to knock over a competitor, according to the first KPMG "Mood of the Market" survey of small and medium-sized enterprises, released this morning.The...Source: nzherald.co.nz - Business | 1 Oct 2009 | 4:30 pm A six-step guide to innovationCreativity is a process. Follow our road map to generate game-changing ideas for your business.Source: Business and financial news - CNNMoney.com | 1 Oct 2009 | 4:24 pm Citigroup In Crisis
Sponsored Topics: Andrew Hall - Vik - United States - Citi - Citigroup Source: Dealbreaker | 1 Oct 2009 | 4:11 pm Detroit: Too broke to bury their deadAt 1300 E. Warren St., you can smell the plight of Detroit.Source: Business and financial news - CNNMoney.com | 1 Oct 2009 | 4:00 pm Challenge: The Jobless Rate Will Be...By Laura Conaway Starting at 8:30 on Friday morning, we'll be blogging the latest unemployment report from the Bureau of Labor Statistics. In August, the jobless rate ticked upward from 9.6 percent to 9.7 percent. I invite your predictions about the rate for September. Poll closes at 8:29 a.m. Friday.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Oct 2009 | 4:00 pm Is Bing losing its wow factor?Source: Business and financial news - CNNMoney.com | 1 Oct 2009 | 3:59 pm Manufacturing, employment reports pound stocks (AP)
Source: Yahoo! News: Stock Markets News | 1 Oct 2009 | 3:57 pm New blog: More Money from Money MagazineSource: Business and financial news - CNNMoney.com | 1 Oct 2009 | 3:52 pm How the major stock indexes fared on Thursday (AP)AP - Stocks began the fourth quarter with their worst drop in three months after reports on the job market and manufacturing reawakened investors' pessimism about the economy. The slide intensified in the final minutes of the day, signaling that traders were growing nervous ahead of the government's key September jobs report due before the opening bell Friday. Bond prices jumped as investors sought a safer place for their money.Source: Yahoo! News: Stock Markets News | 1 Oct 2009 | 3:51 pm Davidowitz on Consumer Spending, Murphy on Stocks: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 3:50 pm Acampora on Commodities, Stock Volatility; Poser on Nike: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 3:45 pm Kubarych Sees Fed Tightening `Little Bit' by December: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 3:41 pm Lenny Dykstra Objects (To The Filthy Insuation He Stole The Fixtures Out Of His House, Would Go Back To Flying Commerical If His Life Depended On It)
Sponsored Topics: Lenny Dykstra - Jim Cramer - Chapter 11 Title 11 United States Code - Law - Services Source: Dealbreaker | 1 Oct 2009 | 3:16 pm Northern Rock Does Its Part To Recycle
Disgraced Northern Rock boss lands US private equity job [Guardian.co.uk]
Sponsored Topics: Northern Rock - Adam Applegarth - Private equity - Apollo Management - Chrysler Source: Dealbreaker | 1 Oct 2009 | 3:03 pm South Canterbury accounts could trigger new demandsThe release of South Canterbury Finance's audited accounts yesterday clears the way for the issue of a revised prospectus which will in turn give access to badly needed funds from debenture investors.However the company, which...Source: nzherald.co.nz - Business | 1 Oct 2009 | 3:00 pm McCormick Discusses Bank of America's Successor to Lewis: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 2:42 pm Madoff Victims Have Billions Of New Reasons To Be Happier
Sponsored Topics: Bernie - The Right Place at the Right Time - Investment club - Butner North Carolina - Chalk Source: Dealbreaker | 1 Oct 2009 | 2:02 pm Chrysler May Not Make It Another YearRumors, credible rumors, are beginning to circulate in the car industry and the automotive press, that Chrysler may not make it another year primarily due to its falling sales and growing financial losses at partner Fiat. Chrysler sold a 62,197 cars in September down 42% from the same month last year. The figure was down from 93,222 in August [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Oct 2009 | 1:41 pm Staite Says Moynihan Is `Obvious' Successor to Ken Lewis: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 1:41 pm BlackRock: Please Make Room For Maria Bartiromo's EntourageTo: BlackRock Employees
Sponsored Topics: New York Stock Exchange - BlackRock - Business - Initial public offering - CNBC Source: Dealbreaker | 1 Oct 2009 | 1:29 pm Don Imus Would Like To Know How Long It's Going To Take Charlie Gasparino "To Grow A Pair"
Sponsored Topics: Fox Business Network - DonImus - Charlie Gasparino - CNBC - NAACP Image Award Source: Dealbreaker | 1 Oct 2009 | 1:11 pm Fed's Lacker Says `Double Dip' Recession Risk Diminished: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 12:40 pm Federal Reserve Governor Says Goodbye To Double Dip RecessionFor the first time, a federal government official has said that that odds of a double recession are almost gone. Richmond Federal Reserve President Jeffrey Lacker, in an interview with Bloomberg TV, said that the economic rebound was robust enough that it should carry into next year without slowing. Fed watchers have been concerned for several months [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Oct 2009 | 12:13 pm Will Michael Vick’s Notoriety Add to His Public Allure?
After Nike endorsed–no, wait, didn’t endorse–Michael Vick again this year, I can’t help but wonder whether Vick has even more star power than he did before spending 23 months in prison for his participation in a dogfighting ring. John Kelly of Minyanville has the following to say about Vick and notoriety: The questions on everyone’s minds are: Can Michael Vick return at the same level of play after spending 18 months in jail? Will the fans forgive him for his cruelty to dogs and allow him to refurbish his tarnished image? Gareb Shamus, CEO of New York-based Wizard Entertainment, which covers the gaming industry, says the answer is yes. “If anything, it’s his notoriety, more than his athletic ability, that will contribute to a spike in his popularity,” he says. “This is a period in our history where infamy makes you famous. And desirable.” At the time of his conviction, Vick was the highest paid player in football, with a 10-year, $130 million contract with the Atlanta Falcons that put him at number 33 on Forbes’ “Top 100 Celebrities” list. But following his 2007 guilty plea in the dog-fighting case, NFL Commissioner Rodger Goodall suspended Vick without pay. Nike (NKE) also dropped a lucrative sponsorship contract with him and the NFL stopped selling his jersey and other merchandise. These events took a huge hit on Vick’s finances, and while serving his time, he filed for Chapter 11 bankruptcy. Fast-forward to the present: In August, Vick signed a one-year deal with the Eagles for $1.6 million, with a team option to extend the contract for another year at $5.2 million. The signing has drawn the ire of many, but it’s too soon to tell if his reputation has taken a permanent hit. At the team’s first home game last Sunday, just 50 people showed up to protest his presence on the team. Several online campaigns have sprung up to urge people to boycott the Eagles’ corporate sponsors, which include Canon (CAJ), Budweiser, Gatorade (PEP), MasterCard (MA), Staples (SPLS), and US Airways (LCC). But whether these campaigns succeed in influencing the companies to withdraw their sponsorship of the Eagles remains to be seen. On the other hand, there’s some positive news for Vick. A day after signing his contract with the Eagles, the video-game company EA Sports added Vick to this years edition of Madden NFL, its bestselling multi-platform video game. Even more telling, Vick’s number-seven Eagles jersey is the fourth-best selling jersey on NFLShop.com. The stats are based on sales at the site from April 1 to August 28; Vick signed with the Eagles on August 13, which means that his jersey broke the top five in sales in less than two weeks. And while Dick’s Sporting Goods, whose headquarters are in Pennsylvania, is refusing to stock the jersey, the sporting goods chain Modell’s reports that demand for the jersey is high. There are two ways to interpret Vick’s story: a) Vick should be permanently shunned for his involvement in dogfighting. Contributing to the deaths of animals is inexcusable. b) Vick messed up. He declared bankruptcy and did time in prison. Now, he’s getting a second chance. Who doesn’t deserve a second chance? Through his actions, Vick has become symbolic for his audience. He gives them a chance to express agreement, disagreement, disgust, and a range of other emotions. In that sense, Michael Vick is more than a football player–he is a trigger for value expression. Because of that, Vick continues to draw a lot of attention. Companies like Nike and jersey sellers can capitalize on that attention, either by selling product or by making their own statement, as Nike just did. Maybe his moral value went down after the dogfighting incident, but his marketing value has gone up. What do you think of the Vick incident? Is it affecting your perception of his sponsors or the Philadelphia Eagles?
Source: Business Pundit | 1 Oct 2009 | 12:13 pm Pay Czar Recognizes Benmosche Leadership Doesn't Come For Free
Sponsored Topics: Black hole - Andrew Cuomo - American International Group - Physics - Relativity Source: Dealbreaker | 1 Oct 2009 | 12:00 pm Presented By:Source: Dealbreaker | 1 Oct 2009 | 12:00 pm Mortgages rates dip below 5 percent (AP)AP - Rates on 30-year home loans dropped below 5 percent for the first time in four months, but still remained above this year's record low, Freddie Mac said Thursday.Source: Yahoo! News: Business | 1 Oct 2009 | 11:58 am Who Should Take Over For Ken Lewis?
Sponsored Topics: Financial services - BlackRock - Sallie Krawcheck - Larry Fink - Business Source: Dealbreaker | 1 Oct 2009 | 11:57 am Are textbooks history in the digital era?States across the country are slashing education budgets, forcing schools to cut expenses. One option getting a lot of attention is digital textbooks. Stacey Vanek-Smith reports.Source: Marketplace | 1 Oct 2009 | 11:55 am New DJ gadgets offer a different spinG4's Kevin Pereira talks with Kai Ryssdal about new portable devices that make it easier for deejays to mix, sample and make their own music.Source: Marketplace | 1 Oct 2009 | 11:55 am A new way to explain the marketsFinancial Times editor John Authers talks with Kai Ryssdal about what has happened the past few years to change our view of the markets, and new ideas economists are exploring to account for market behavior.Source: Marketplace | 1 Oct 2009 | 11:55 am Pay plan helps Indians fit into LevisIn India a pair of Levis is a symbol of wealth. Raymond Thibodeaux reports getting the jeans is about to become easier for millions of Indians who can buy them on installment.Source: Marketplace | 1 Oct 2009 | 11:55 am IMF report: We may need more stimulusA new IMF report suggests all the funds used by the U.S. and other countries to stimulate the global economy may not have been enough. Bob Moon reports.Source: Marketplace | 1 Oct 2009 | 11:55 am Chamber fights consumer agency planThe Obama administration wants to create an agency to protect consumers from dangerous financial products, but the U.S. Chamber of Commerce is spending millions to attack the idea. Steve Henn reports.Source: Marketplace | 1 Oct 2009 | 11:52 am What B of A's next CEO facesThere's no word on who will replace Bank of America CEO Ken Lewis when he steps down at the end of the year. Jeremy Hobson reports the bank's size means it won't be an easy road for his successor.Source: Marketplace | 1 Oct 2009 | 11:51 am Bernanke calls for higher insurance levies on big groupsLarge financial institutions should face a combination of higher capital requirements, tougher regulation and higher insurance premiums ‘making it less profitable to be ‘too big to fail’’, the Fed chair saidSource: Financial Times - US homepage | 1 Oct 2009 | 11:34 am A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Thursday:Source: Yahoo! News: Stock Markets News | 1 Oct 2009 | 11:03 am Reinhart Says Losses Still Encumber Bank Balance Sheets: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 10:43 am Roach Sees U.S., China Becoming Less Adversarial: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 10:42 am Index: Manufacturing Grew In SeptemberBy Laura Conaway Here's a twist on the recent trend of economic indicators shrinking less than expected: The Institute for Supply Management says manufacturing grew in September -- but the uptick is smaller than expected. A reading of above 50 on the Purchasing Managers' Index, or PMI, shows expansion. Factories clocked in at 52.6, which means the sector was expanding. Analysts expected the index to come in at 54. In August, the figure was 52.9. As economist Brian Bethune told Bloomberg: "We're still in positive territory but we're just not advancing at quite the same rate."Today's national figure comes a day after the Chicago index showed a surprising dip in manufacturing. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 1 Oct 2009 | 10:30 am FTSE declines on fears it has outpaced its growth (AFP)
Source: Yahoo! News: Business | 1 Oct 2009 | 10:25 am FTSE declines on fears it has outpaced its growth (AFP)
Source: Yahoo! News: Stock Markets News | 1 Oct 2009 | 10:25 am JPMorgan's Glassman Says Fed Is on Hold for Next 2 Years: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 9:55 am Weak Economic News Sends Investors to Gold (ABX, KGC, GFI, GDX, GLD, RGLD)This morning’s reports on unemployment (up), manufacturing (down), housing (sort of up), and consumer spending (up a little) have pushed the market down. Out of the gate this morning, gold miners and spot gold prices followed the market down, but as trading has increased the spot gold price has recovered about half its early losses [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Oct 2009 | 9:47 am Harris Sees Momentum Picking Up in U.S. Economy: AudioSource: Bloomberg - All Podcasts | 1 Oct 2009 | 9:45 am JPMorgan downgrades Saks, shares fall (AP)AP - Shares of luxury department store chain Saks Inc. sank Thursday after an analyst downgraded the retailer, saying its stock was properly valued.Source: Yahoo! News: Business | 1 Oct 2009 | 9:36 am Job Loss Rises. Spending, Too. What Gives?By Laura Conaway New claims for unemployment insurance rose last week for the first time four weeks, climbing by 17,000 to 551,000, the Department of Labor reports. That's more than the 535,000 analysts expected. If you're looking for work or know someone who is, take heart: the four-week moving average fell by 6,250, to 548,000. If you're waiting on your next benefits check, you're still in good company: As of Sept. 19, 6,090,000 people were waiting, too, about 70,000 fewer folks than the week before. The rolls of people on extended Emergency Unemployment Compensation rose to 3,275,213 as of Sept. 12, up from 3,175,381. The key now is chronic unemployment, especially for people out of work longer than six months. Until they start finding work, unemployment is likely to keep right on climbing. We'll get the September figures Friday morning. Meanwhile, consumers overall are spending more money -- or at least they spent more money in August. The Bureau of Economic Analysis says personal spending rose by $127.3 billion, compared to growth of $22.9 billion in July. Americans saved at a rate of 3 percent, compared to 4 percent in July. You can track that right to the government's Cash for Clunkers program, with spending on durable goods up by 5.9 percent. The BEA says personal income rose by 0.2 percent, a touch over the expected 0.1 percent. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Oct 2009 | 8:49 am Alternative Energy Shares Troubled (YGE, SPWRA, TSL, ENER, AONE, CRTP)This morning’s report on unemployment has cooled enthusiasm for shares across the board. Solar stocks are, for the most part, no exception. Yingli Green Energy Holding Co. Ltd. (YGE) is down nearly 3%, SunPower Corp. (SPWRA) is off more about 2.25%, Trina Solar Ltd. is down about 3.5%, and Energy Conversion Devices, Inc. (ENER) is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 1 Oct 2009 | 8:42 am Comcast Might Want to Buy NBC Universal
The LA Times reports that Comcast is “kicking the tires” of NBC Universal: Comcast, the nation’s largest cable operator with almost 25 million subscribers, has been looking to increase its content holdings for several years. In NBC Universal it would get its hands on not only a big broadcast network and movie studio, but also several powerful cable channels, including USA, Syfy, CNBC, MSNBC and Bravo. NBC parent General Electric has often denied that it is interested in selling its entertainment holdings. Of course, if history is any guide, Comcast doesn’t necessarily wait for an invitation before making a play. Five years ago it made an unsuccessful run to buy Walt Disney Co. for $54 billion. The price tag for NBC Universal would be substantially less than that. A recent analyst report from J.P. Morgan analyst Stephen Tusa valued NBC Universal at $30 billion to $35 billion. However, such a deal would likely be very complex because there would be huge tax implications for NBC Universal parent General Electric, which first bought NBC in 1986 for $6.5 billion. Speculation that GE may be looking to unload NBC Universal has heated up as of late in part because the French conglomerate Vivendi, which holds a 20% stake in the entertainment unit, may look to unload its interest before the end of the year. There have been questions raised as to whether GE — which has first dibs on the Vivendi interest — could muster the $4 billion – $5 billion needed to buy back the stake or whether another company such as cash-rich Time Warner or Comcast would step in and buy it. Comcast, meanwhile, has denied the report…for whatever that means.
Source: Business Pundit | 1 Oct 2009 | 8:31 am From Ken Lewis To Saturn, Cautionary Tales From The World Of MoneyBy Laura Conaway Good morning, and welcome to a day of cautionary tales. Ken Lewis has announced he's heading for the exit at Bank of America this year. The chairman has been under pressure from just about all sides since BofA's shotgun purchase of Merrill Lynch in 2008, especially over the issue of $3.6 billion in bonuses for Merrill execs just prior to the deal. GM is looking to phase out its once-lauded Saturn line after a deal collapsed to sell it. The stock market rose 15 percent last quarter, despite fears that stimulus spending from the U.S. government was providing much of the economy's fuel. The International Monetary Fund has changed its forecast for the global economy. It now says activity will grow by 3.1 percent next year, up from its July prediction of 0.6 percent. In the U.S., the IMF says economic activity will grow by 1.5 percent instead of 0.7 percent. "The current numbers should not fool governments into thinking that the crisis is over," IMF chief economist Olivier Blanchard warned. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 Oct 2009 | 8:12 am The Baucus Plan’s Corporate LinksThis graphic illustrates who might have influenced the Baucus plan–and how. Every politician (and bill) should come with one of these.
Source: Business Pundit | 1 Oct 2009 | 8:00 am FTSE 100 eases after record quarter (AFP)
Source: Yahoo! News: Stock Markets News | 1 Oct 2009 | 6:46 am FTSE 100 gets first black chief executive (AFP)
Source: Yahoo! News: Stock Markets News | 1 Oct 2009 | 6:16 am Screen Art
Source: Business Pundit | 1 Oct 2009 | 5:13 am
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