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Belgium's Delhaize to acquire BI-LO assets (AP)AP - Belgian international food retailer Delhaize Group is in talks to buy shops and inventory worth $425 million from South Carolina-based BI-LO, a grocery chain that entered bankruptcy proceedings earlier this year.Source: Yahoo! News: Business | 5 Oct 2009 | 4:33 am Belgium's Delhaize to acquire BI-LO assetsIn a statement Monday, Delhaize Group said it was in non-binding talks to acquire "a substantial majority" of BI-LO's assets. It said the assets to be acquired had revenue of over $2...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:27 am Lloyds slogan 'for the journey' should be 'wasted journey'People coming to the end of their zero per cent deals might have seen that the longnosed Lloyds TSB family are back on our screens againSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 4:26 am Telenor and Altimo to create new mobile operatorTelenor Group and Altimo, the two major shareholders in Russia’s Vimpel Communications, agree to combine their holdings to create a new jointly owned mobile operator, thereby ending their long-running dispute.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 4:26 am Growth of UK services hits two-year highBritain's services sector grew at its fastest rate for two years during September and the majority of companies expect growth to be sustained over the next year, according to a survey published today. Source: Latest Business News from Times Online | 5 Oct 2009 | 4:24 am EU ministers discussing milk rowHundreds of farmers drive tractors into Brussels to put pressure on EU agriculture ministers meeting to discuss low milk prices.Source: BBC News | Business | World Edition | 5 Oct 2009 | 4:21 am Expectations rise for Australian rate hikeHONG KONG (MarketWatch) -- Expectations that Australia will lift interest rates this week jumped on Monday following the release of upbeat jobs data, laying the track for the nation to become the first among major economies to exit emergency monetary policies.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 4:21 am Two-year high for services growthThe UK service sector grew at its fastest rate for two years in September, a survey of purchasing managers shows.Source: BBC News | Business | World Edition | 5 Oct 2009 | 4:17 am The Improbable Success Of Cash4GoldCash4Gold is a low-rent business that buys cheap TV time to promote its program for people to send it gold in exchange for cash. Turn that old jewelry into money. It turns out that Cash4Gold is an outstanding business. According to TechCruch and The New York Post, the company made $30 million on $90 million in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 4:15 am France Telecom executive quits amid suicidesFrance Telecom SA said Monday that the company's second-in-command has quit, after weeks of mounting criticism over management's handling of a spate of suicides by employees. ...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:10 am Oil prices ease on economic concernRead full story for latest details.Source: Business and financial news - CNNMoney.com | 5 Oct 2009 | 4:07 am TransUnion Enhances Collections, Credit and Identity Risk Offerings with ID Analytics' Suite of ServicesID Analytics' scores offer alternative data sources and advanced analytics to fine tune decision making CHICAGO and SAN DIEGO, Oct. 5 /PRNewswire/ -- TransUnion andSource: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:05 am Lehman administrators try to free up assetsThe administrator for Lehman Brothers, PricewaterhouseCoopers (PwC) is drawing up a plan to give out $17 billion of the defunct bank$’s assets directly to creditors, it was announced today. Source: Latest Business News from Times Online | 5 Oct 2009 | 4:01 am Jamba Juice Launches Fall 'Feel Good Moments' Campaign and SweepstakesBananaman(TM) Offers NYC MTA Riders a Free Ride as 30 Million 'Feel Good Bucks' Hit the Streets EMERYVILLE, Calif., Oct. 5 /PRNewswire-FirstCall/ -- In a continued effort...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:01 am Texas Wyoming Drilling, Inc. Enters Into Agreement With Legacy Rock CompanyLAS VEGAS, Oct. 5 /PRNewswire-FirstCall/ -- Texas Wyoming Drilling, Inc. (Pink Sheets: TWDL) a publicly traded company on Pink Sheets, has announced that it has entered into a...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:00 am Charles A. Barragato & Co. LLP Joins the BDO Seidman AllianceNEW YORK, Oct. 5 /PRNewswire/ -- href="http://www.cabcpa.com/">Charles A. Barragato & Co. LLP ("CAB") has joined the BDO Seidman Alliance, a nationwide...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:00 am Marriott's Top Hotel Deals Offer Luxury Travel Experiences for LessBETHESDA, Md., Oct. 5 /PRNewswire/ -- This fall, Marriott International, Inc. (NYSE: MAR), one of the world's leading lodging companies, is offering guests the opportunity to...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:00 am FFI Announces Earnings Guidance for Fiscal Year Ending June 30, 2010INDIANAPOLIS, Oct. 5 /PRNewswire-FirstCall/ -- Fortune Industries, Inc. (NYSE Amex: FFI) announced today revenue and earnings guidance for the fiscal year ending June 30, 2010.Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 4:00 am Ballmer sees Web search buys unlikelyLONDON (Reuters) - Microsoft's Chief Executive Steve Ballmer does not expect to make acquisitions to help the company challenge Google's dominance in the Internet search market, he told...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 3:59 am Ballmer sees Web search buys unlikelyLONDON (Reuters) - Microsoft's Chief Executive Steve Ballmer does not expect to make acquisitions to help the company challenge Google's dominance in the Internet search market, he told Reuters on Monday.Source: Reuters: Business News | 5 Oct 2009 | 3:59 am Indications: U.S. futures point to stronger startU.S. stock market futures were pointing to a higher open for Wall Street, shored up by expectations that data to come from the Institute of Supply Management will show stabilization in the services industry last month.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 3:56 am Wolfson warns of microchip sales slowdownWolfson Microelectronics, the Scottish designer of microchips for mobile phones and digital devices, warned today that it had seen fewer orders for the final three months of this year than it expected, as it continues to reel from consumer uncertainty and its failure to supply Apple's latest version of the iPhone. Source: Latest Business News from Times Online | 5 Oct 2009 | 3:52 am Henry Paulson’s Little White LieIt seems that Henry Paulson was a bit too optimistic about the prospects of several banks which received TARP funds at the end of last year. The Treasury Department’s inspector general Neil Barofsky report that the Department “lost credibility” when its top officials claimed that the first capital injections from the $700 billion financial rescue were [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 3:52 am UPDATE 1-Microsoft's Ballmer sees Web search buys unlikelyLONDON, Oct 5 (Reuters) - Microsoft's Chief Executive Steve Ballmer does not expect to make acquisitions to help the company challenge Google's dominance in the Internet search market, he told Reuters...Source: RSS feed - channel BNewsBusiness | 5 Oct 2009 | 3:50 am Europe Markets: Miners, telecoms front mild gains for EuropeMineral extractors and telecoms helped European shares to advance on Monday for the first time in four sessions, with Telenor shares rising sharply after the firm signed a deal to create a new mobile operator with Altimo.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 3:45 am IMF told to aid orderly exit from stimulusWorld finance ministers called on the IMF to examine ways to provide insurance-style finance to well-run emerging economies so they do not need to build up vast foreign exchange reservesSource: Financial Times - US homepage | 5 Oct 2009 | 3:44 am NorthSouth divide in land for houses as builders focus on greenfield sitesA NorthSouth split has developed in the value of development land as housebuilders focus on buying plots in areas where homes are in demand.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 3:43 am Kospi, Nikkei and Sensex skid in AsiaAsian markets end mostly lower in volatile trading Monday, with South Korean stocks suffering a steep decline as trading resumed after a holiday and as Hana Financial Group plunged on a report it may raise capital.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 3:43 am Aussie dollar advances as rate rise expectations buildThe Australian dollar advanced on Monday as expectations grew that the Reserve Bank of Australia would move to raise interest rates at its policy meeting.Forecasters were evenly split as to whether the...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 3:41 am Call for regulation of buy-to-letBuy-to-let mortgages should be regulated by the City watchdog in the same way as other home loans, an investors' group says.Source: BBC News | Business | World Edition | 5 Oct 2009 | 3:38 am Economic Report: U.K. services PMI jumps to 2-year highBritain’s services sector picked up the pace in September, growing at its fastest rate in two years, according to a monthly survey of purchasing managers.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 3:36 am Goldman Sachs (NYSE:GS) Wins AgainSome times it seems like Goldman Sachs (NYSE:GS) has a single-sided coin that always comes up heads. Documents recently released show that if CIT (CIT) fails, Goldman get $1 billion of money that it invested last year while taxpayers take a $2.3 billion loss. According to the FT, The agreement with Goldman states that if CIT defaults [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 3:33 am Service sector growth lifts London sharesLondon equities inched higher on Monday, with fragile sentiment given a lift from stronger-than-expected economic data from the UK's dominant service sector. It showed the sector expanded in September...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 3:24 am France Télécom replaces deputy chief executiveThe deputy chief executive of France Télécom stepped down today after unions blamed his aggressive management for a spate of suicides at the telecommunications giant. Source: Latest Business News from Times Online | 5 Oct 2009 | 3:19 am Pilots protest over flying hoursAirline pilots who say rules governing flying hours are "putting lives at risk" hold protests across Europe.Source: BBC News | Business | World Edition | 5 Oct 2009 | 3:15 am The Failure Of The Bank Of American Board To Have A “CEO-In-Waiting”There has been a great deal of risk that Bank of America’s (NYSE:BAC) Ken Lewis would leave as the firm’s CEO. He was replaced as the company’s chairman. He has been part of a Congressional investigation into the role of the Treasury Department and the Fed in forcing B of A to buy Merrill Lynch. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 3:12 am Could a bigger selloff be brewing?The stock advance has hit some resistance in the last two weeks and it's only going to get tougher as the third quarter reporting period gets underway.Source: Business and financial news - CNNMoney.com | 5 Oct 2009 | 3:12 am Stocks set to open up, snap 4-day losing streak (Reuters)
Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 3:11 am Stocks set to open up, snap 4-day losing streak(Reuters) - U.S. stock index futures pointed to a higher start on Monday to snap a four-day losing streak. The futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq Composite were up 0.5-0.6 percent at 4.22 a.m. ET.Source: Reuters: Business News | 5 Oct 2009 | 3:11 am Stocks set to open up, snap 4-day losing streak (Reuters)
Source: Yahoo! News: Business | 5 Oct 2009 | 3:11 am Insurance giant Aviva to float Dutch division (AFP)
Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 3:10 am Stocks set to bounce backU.S. stocks were set for a positive start Monday, as investors eyed buying opportunities after the recent selloff.Source: Business and financial news - CNNMoney.com | 5 Oct 2009 | 3:07 am Fresh economic doubts send FTSE lowerDoubts about the sustainability of the economic revival continued to plague investors today, sending the FTSE lower in early trading. Source: Latest Business News from Times Online | 5 Oct 2009 | 3:02 am Aviva plans partial float of Delta Lloyd in NovemberAviva Britain's secondbiggest insurer said it expected the partial floatation of Delta Lloyd its Dutch unit to be completed in November.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 2:59 am Unemployment Problems Will Get Much WorseAlan Greenspan stated the obvious recently when predicted unemployment would rise over 10% soon. He also said that extending unemployment benefits should not be considered a part of the stimulus package because the action would be only temporary. The entire stimulus package is temporary, but questions of permanence should not be the sole factor that [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 2:51 am World stock markets weak after grim US jobs report (AP)
Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 2:45 am London Markets: U.K. FTSE 100 flirts with key 5,000 levelBritish shares edge higher on Monday, with gains from the mining sector helping the top index flirt with the key 5,000 level.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 2:40 am Treasury fibbed to save economyA government watchdog says federal officials weren't entirely honest with the public about the health of the first 9 financial firms that got federal bailouts, according to a report released Monday.Source: Business and financial news - CNNMoney.com | 5 Oct 2009 | 2:33 am World stocks flirt with gains, dollar weak (Reuters)
Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 2:30 am $1 billion for Goldman - if CIT failsRead full story for latest details.Source: Business and financial news - CNNMoney.com | 5 Oct 2009 | 2:29 am Lehman administrator looks to dole out assets: report(Reuters) - The administrator for Lehman Brothers Holdings Inc plans to seek permission to remove the claims against the bank from British courts and give out assets directly to creditors, the Wall Street Journal said, citing a joint administrator for the collapsed investment bank.Source: Reuters: Business News | 5 Oct 2009 | 2:28 am Buytolet: call for crackdown on mortgagesBuytolet mortgages should be regulated by the Financial Services Authority according to the British Property Federation.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 2:21 am HSBC chief fears a second downturnMichael Geoghegan, chief executive of HSBC, is so convinced there will be a second downturn in the coming months that he plans to delay any rush to expand the bank."Is this a V recovery or a W?" Mr Geoghegan...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 2:19 am HSBC chief fears a second downturnMichael Geoghegan, chief executive of HSBC, is so convinced there will be a second downturn in the coming months that he plans to delay any rush to expand the bankSource: Financial Times - US homepage | 5 Oct 2009 | 2:19 am Wall Street jobs are still hard to findWall Street's job woes don't appear to be over just yet.Source: Business and financial news - CNNMoney.com | 5 Oct 2009 | 2:02 am Media Digest 10/5/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: A bear market could kill the extraordinary rally in corporate bonds. Reuters: Treasury will announce three more funds are buying toxic assets. Reuters: Bank of America (BAC) will select an emergency CEO this week. Reuters: Goldman Sachs (GS) is owed $1 billion if CIT (CIT) fails. Reuters: The Lehman administrator would like to pay out assets. Reuters: A new [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 2:01 am Mobile phones: regulator wants 'try before you buy' policyMobile phone users should be offered a "try before you buy" getout clause to help them get the coverage they want Ofcom's consumer panel has said.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 1:54 am Trade month: Bulldog the men's skincare company that is looking beyond the UKSimon Duffy cofounded Bulldog three years ago. In the first of a fourpart series he looks at how the company is gearing up to export outside Britain.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 1:52 am HSBC offloads US office to Israeli investorHSBC announced today that it has agreed to sell and lease back its New York headquarters for $330 million in cash.$ Source: Latest Business News from Times Online | 5 Oct 2009 | 1:48 am France Telecom's deputy chief executive resignsThe head of France Telecom’s French operations, Louis-Pierre Wenes, on Monday announced his resignation as a wave of employee suicides has brought heavy criticism on the company’s management.
Source: MarketWatch.com - Top Stories | 5 Oct 2009 | 1:48 am Telenor and Alfa Group strike Vimpelcom dealMOSCOW/OSLO Norway's Telenor and its partner in Russia, the Alfa Group, will pool their Russian and Ukrainian holdings into a New York-listed mobile operator, ending one of the longest corporate wars...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:47 am U.S. banking regulator eyes bank creditor claimsISTANBUL (Reuters) - Ensuring secured creditors face losses when a financial institution fails could help rein in excessive risk-taking and strengthen the financial system, a top U.S. banking regulator said.Source: Reuters: Business News | 5 Oct 2009 | 1:47 am HSBC chief Michael Geoghegan fears second downturnMichael Geoghegan the chief executive of HSBC has said he fears the global economy faces a second downturn.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 1:46 am CapitaLand to list retail property unitSingapore's CapitaLand group, the largest property developer in south-east Asia, said on Monday it planned to list its retail arm which manages and part-owns shopping malls valued at more than S$20bn (US$14...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:40 am Aviva to float Dutch arm Delta Lloyd for £1bnAviva said today that it would float a minority stake in its Delta Lloyd insurance subsidiary in the Netherlands by next month. Source: Latest Business News from Times Online | 5 Oct 2009 | 1:39 am Asia stocks steady as jobs data weighs on dollarSINGAPORE - The dollar fell and Asian stocks steadied near three-week lows on Monday after weaker-than-expected US jobs data heightened investor caution ahead of the third-quarter corporate results season...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:35 am France Telecom replaces deputy chief amid suicide stormPARIS, Oct 5 - France Telecom, which faces a political storm over a spate of employee suicides, on Monday appointed Stephane Richard, a former top aide of France's economy minister, as deputy chief executive...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:28 am Asia Markets And Europe Open 10/5/2009Markets in Asia were narrowly mixed. The Nikkei was down .6% to 9,674. The Hang Seng moved up .3% to 20,434. The market in Shanghai was closed. At the open in Europe, the FTSE was flat at 4,986. BP (BP) fell. The Dax was down .2% to 5,458. The CAC fell .3%. Data from MarketWatch and Reuters. Douglas A. McIntyre Posted [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 1:26 am Aussie stocks marginally weakerPERTH - The Australian share market finished in the red after bank stocks lost ground in a directionless trading session ahead of the Reserve Bank's interest rate decision on Tuesday.The benchmark S&P/ASX200 index was down 15...Source: nzherald.co.nz - Business | 5 Oct 2009 | 1:15 am Trade month: how UK shoe retailer Pavers has made a success of IndiaIndia presents huge opportunities for UK companies but a local partner can make life a lot easier.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Oct 2009 | 1:09 am Aviva to sell stake in Dutch unitInsurer Aviva is set to raise more than £1bn from the sale of a minority stake in its Dutch subsidiary Delta Lloyd.Source: BBC News | Business | World Edition | 5 Oct 2009 | 1:07 am Will Hulu make you pay to watch?Comcast is in talks about creating a joint venture that would combine its entertainment assets with the video website's parent, NBC Universal. A deal could end free viewing of some TV shows. ...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:00 am Contest for Air Force refueling tanker contract again hits turbulenceBoeing and Northrop are vying for a $35-billion deal to replace a fleet of in-flight refueling jets. But criticism of the evaluation process could cause the competition to be scrapped for a third time.When the U.S. Air Force recently launched its third attempt to award a $35-billion contract for aerial refueling tankers, Pentagon officials said the competition would be fair and transparent.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am Will Hulu make you pay to watch?Comcast is in talks about creating a joint venture that would combine its entertainment assets with the video website's parent, NBC Universal. A deal could end free viewing of some TV shows.Since Hulu launched early last year, its popularity has quadrupled as millions of people turn to the free online video site to watch episodes of such television shows as "Family Guy," "The Office" and "Modern Family."
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am GM's Latin America unit still rides highWith GM-Brazil's car and light truck sales expected to grow 8% this year, the region offers a template for what the parent should do 'to get the business right,' says division President Jaime Ardila.At its bankruptcy filing last June, General Motors Corp. announced drastic cutbacks in its domestic and international operations but kept its South American subsidiary off the auction block.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am Can Brentwood Country Mart re-create its success?The kitschy, barn-themed landmark has been around since 1948. Now landlord and developer James Rosenfield plans to take its down-home yet upscale sensibility to Malibu, Montecito and Marin County.With its picnic tables, overfed pigeons and fast-food stands, the kitschy barn-themed shopping center looks like a throwback from an era before air-conditioned malls took over the retail world. There are no department stores and no glittering retail names like Tiffany or Chanel.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am State tax reform panel blew its opportunityThe Commission on the 21st Century Economy could have confronted the hard issues politicians have dodged for years. Instead it proposes to shift taxes from the rich to the middle class and the poor. ...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:00 am 'Zombieland' takes a bite out of the box officeThe film starring Woody Harrelson and Jesse Eisenberg goes to No. 1, breaking a recent trend of poor openings for horror movies. ...Source: RSS feed - channel BNPaperBusiness | 5 Oct 2009 | 1:00 am The week ahead, at a glanceAt a glance TODAY Institute for Supply Management releases its service sector index for September.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am Wall Street awaits earnings reports that could determine rally's directionA stock market slump in response to disappointing data released over the last two weeks is stirring concern that investors have been too quick to bet on an economic recovery.The stock market's bulls are slowing their charge, and upcoming earnings reports will determine whether they keep going forward or just stop.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am Coastal oil drilling backers aim to sidestep state's barrierSupporters want to get around a state commission's opposition to new drilling off California's coast by passing a bill that would create a governor-appointed panel that could then approve the project.A Texas oil company's campaign to drill the first new wells in 40 years off the California coast continues despite setbacks in both the Legislature and at a key regulatory agency.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am State tax reform panel blew its opportunityThe Commission on the 21st Century Economy could have confronted the hard issues politicians have dodged for years. Instead it proposes to shift taxes from the rich to the middle class and the poor.Last week's release of the final report by a blue-ribbon panel on tax reform for California was accompanied by all the ceremonial obeisance customarily paid to groups of public-spirited citizens completing a difficult task.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am 'Zombieland' takes a bite out of the box officeThe film starring Woody Harrelson and Jesse Eisenberg goes to No. 1, breaking a recent trend of poor openings for horror movies.The directorial debuts of two well-known stars didn't combine to do half the business of a new horror comedy this weekend.
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am The care and feeding of clever employeesA lot of management books explore how to make employees more valuable to the organization. The authors of 'Clever' show how organizations can better serve their most valuable employees.Some big fibs have endured longer than any others. "The check's in the mail," for example. Or: "No, darling, you look lovely in that." And finally: "Our people are our biggest asset."
Source: L.A. Times - Business | 5 Oct 2009 | 1:00 am Indian bosses 'warned over pay'The Indian Government has warned firms in the country not to pay their bosses excessive salaries, a report says.Source: BBC News | Business | World Edition | 5 Oct 2009 | 12:59 am Treasury to say 3 more funds to buy toxic assetsWASHINGTON (Reuters) - The U.S. Treasury Department will announce on Monday that three more funds have met requirements to get government financing that will let them begin purchases of banks' so-called toxic assets.Source: Reuters: Business News | 5 Oct 2009 | 12:52 am Treasury to say 3 more funds to buy toxic assets (Reuters)Reuters - The U.S. Treasury Department will announce on Monday that three more funds have met requirements to get government financing that will let them begin purchases of banks' so-called toxic assets.Source: Yahoo! News: Business | 5 Oct 2009 | 12:52 am Crafar Farms put into receivership owing NZ$200mNew Zealand's largest family owned dairy business, Crafar Farms, has been put into receivership by its banks Westpac, Rabobank and PGG Wrightson Finance.The banks are owed around NZ$200 million and put KordaMentha partners Michael...Source: nzherald.co.nz - Business | 5 Oct 2009 | 12:48 am U.S. pronouncements later hurt bailout: IG report (Reuters)Reuters - Senior U.S. officials deliberately created the impression last year that banks receiving huge government cash infusions were healthier than was the case, a Treasury Department watchdog's report released on Monday said.Source: Yahoo! News: Business | 5 Oct 2009 | 12:46 am U.S. pronouncements later hurt bailout: IG reportWASHINGTON (Reuters) - Senior U.S. officials deliberately created the impression last year that banks receiving huge government cash infusions were healthier than was the case, a Treasury Department watchdog's report released on Monday said.Source: Reuters: Business News | 5 Oct 2009 | 12:46 am Banks 'show first recovery signs'Financial firms may be recovering, with business volumes growing for the first time in two years, an industry survey says.Source: BBC News | Business | World Edition | 5 Oct 2009 | 12:41 am Shares down on quiet MondayThe New Zealand sharemarket drifted lower on a fairly quiet Monday.The benchmark NZSX-50 index closed down 10.137 points, or 0.322 per cent, at 3138.722. Turnover was worth $71 million. There were 29 rises and 52 falls among the...Source: nzherald.co.nz - Business | 5 Oct 2009 | 12:18 am Japanese retailer sees sales soarJapanese clothing chain Uniqlo reports a sharp jump in sales, boosting the shares of its owner, Fast Retailing.Source: BBC News | Business | World Edition | 5 Oct 2009 | 12:01 am Asian markets down for third day after US jobs data Roubini fears for equitiesAsian stock markets edged lower for a third day unsettled by worsethanexpected US jobs data and a prediction from respected economist Nouriel Roubini that shares would fall in coming months.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Oct 2009 | 11:52 pm Second-hand retailers score during recessionDALLAS/PHOENIX (Reuters) - The recession has taken its toll on many large U.S. retailers but smaller ones catering to the second-hand market are flourishing as the cash-strapped seek the holy grail of the American consumer: a bargain.Source: Reuters: Business News | 4 Oct 2009 | 11:47 pm Dollar climbs back over US72cThe New Zealand dollar dropped slightly today on comments by Finance Minister Bill English but then hitched a ride higher with a rising Australian dollar.The NZ dollar was at US72.01c at 5pm, from US71.61c at 8am and US71.20c...Source: nzherald.co.nz - Business | 4 Oct 2009 | 11:31 pm U.S.-led consortium wants to buy Volvo from Ford: reportLONDON (Reuters) A U.S.-led consortium has entered the race to buy Volvo from Ford , the Financial Times reported, in a challenge to China's Geely Automotive , which confirmed its interest in the money-losing Swedish carmaker last month.Source: Reuters: Business News | 4 Oct 2009 | 11:27 pm Lehman administrator looks to dole out assets: report (Reuters)
Source: Yahoo! News: Business | 4 Oct 2009 | 11:26 pm BofA to select emergency CEO this week: report (Reuters)Reuters - Bank of America Corp plans to select an emergency chief executive officer this week if legal issues force Ken Lewis to leave before year-end, the Wall Street Journal said, citing a person familiar with the situation.Source: Yahoo! News: Business | 4 Oct 2009 | 11:18 pm BofA to select emergency CEO this week: report(Reuters) - Bank of America Corp plans to select an emergency chief executive officer this week if legal issues force Ken Lewis to leave before year-end, the Wall Street Journal said, citing a person familiar with the situation.Source: Reuters: Business News | 4 Oct 2009 | 11:18 pm Biggest commodity price hike in 22 yearsNew Zealand's export commodity prices made their biggest monthly rise in 22 years in September, rising 6.8 per cent in world price terms from August, the ANZ Commodity Price Index shows. However, also two thirds of this gain was...Source: nzherald.co.nz - Business | 4 Oct 2009 | 10:45 pm Craig Stephen's This Week in China: Tipping point of West's decline?New research from HSBC Holdings' economics team seems to explain its decision to relocate its group chief executive officer from London to Hong Kong.
Source: MarketWatch.com - Top Stories | 4 Oct 2009 | 10:38 pm Crafar Farms put into receivershipNew Zealand's largest family owned dairy business, Crafar Farms, has been put into receivership, Korda Mentha said in a statement.Korda Mentha's Michael Stiassny and Brendon Gibson have been appointed receivers.Stiassny said...Source: nzherald.co.nz - Business | 4 Oct 2009 | 10:29 pm Currencies: Dollar supported vs. yen by Fujii G7 commentsThe dollar edges up against the yen but continues to skid against the euro Monday after the weekend’s Group of Seven meeting fails to address the greenback’s recent slide.
Source: MarketWatch.com - Top Stories | 4 Oct 2009 | 10:25 pm Earnings Will Force Investors to Raise or Fold (Pundit Watch)The gears of recovery start grinding harder this week when Alcoa (AA) reports its third-quarter results, starting a six-week span that will tell investors how recession-battered companies are getting out of the trough. The aluminum maker is scheduled to release results Wednesday. Our pundits continued to clash on the outlook and meaning of the upcoming earnings season, with bulls arguing that improvements and higher estimates herald the start of true recovery. The less rosy view is that profits will come from cost cuts, that spending is down, and that, well, there's no there there. Societe Generale global strategist Albert Edwards offered a colorful metaphor for his view of a market rally that ignores economic rot. “Investors think this is a sweet spot, but it is in fact a putrid boil that has not been properly lanced,” he wrote Thursday. In his view, in a balance sheet recession, investors should expect frequent downturns when governments stop supplying stimulus money. That's a bit harsh for Yardeni Research founder and chief economist Ed Yardeni, who wrote on Sept. 28 that the benchmark S&P 500 stock index has soared more than 50% from its March low and that all of the 10 sectors and 131 industries have risen. "We don’t believe that it has been a sucker’s rally, but rather a relief rally. However, it is show-time for earnings," he wrote. Data cruncher Ed Hyman, chief economist at ISI Group International, wrote Tuesday that the index of earnings revision, published by First Call, hit a 2009 high of 66.8%, a reading of "remarkable strength." "This increase is a good omen for third-quarter earnings reports," he wrote, "and history strongly suggests higher readings for this index argue for better employment." That hasn't happened yet. Friday's 9.8% unemployment rate for September matched a low set in June 1983, but the market remained fairly resilient. Jobless figures are nothing to shrug off, though, warned David Rosenberg, chief economist at Gluskin Sheff. "The economists like to point out that employment lags the cycle. However, in a credit contraction, it is much more of a leading indicator than many believe," and the labor market is now "very soft," he wrote in a Thursday note. "To close this gap and return the labor market to pre-recession conditions by September of 2011, employment would have to increase by an average of 538,000 jobs every month between now and then," Economic Policy Institute economist Heidi Shierholz wrote Friday. "Thanks to the recovery act, we have stepped back from the abyss and losses are moderating. But the hole in the labor market is now so huge that it will require enormous, sustained levels of growth to fill it any time soon." The ongoing weakness could mean that the recent rally – one fueled by investors anxious to get back into a down market – won't continue on an undifferentiated basis. In other words, it's time to start stock picking. This earnings season will offer some vital insight into which companies will thrive. Richard Ross, global technical strategist at Auerbach Grayson, wrote Thursday that there will be upside, despite a choppy path to a tepid recovery. "In poker, beginners rely upon luck, while expert players use their skills to minimize losses on bad hands and maximize profits on big hands," he said, adding that "now is not the time to leave the table, but rather the time to change gears and adjust your play accordingly.” "Experts play 'solid' poker; conservative when entering a pot (market), but aggressive after entry,” Ross said. “The same holds true in trading. As the rising tide from the March bottom recedes, this has become an expert’s tape which strongly favors skill over luck." As the quarter's performance is dealt out over the coming earnings season, investors should consider their cards, how to play their hands and how much of their stakes to risk. SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 4 Oct 2009 | 10:00 pm Wanted: Good Bond ResearchUNTIL RECENTLY, BOND-FUND MANAGERS could get away with one of the biggest shortcuts in investing: skimming over the finer points of each bond they put in their portfolios. Bond research, also known as credit analysis, is supposed to answer a basic question about every bond: How likely is a company (or country or pool of mortgage holders) to pay back its debt with interest? For years many investors didn’t notice or care that fund managers couldn’t always answer that question, because bond funds rarely lost money. But during the financial meltdown, the difference between a bond fund earning 5 percent and losing 35 percent, analysts say, often rested on whether the fund managers did their own research. “It’s hugely important, and no one realizes it,” says Lawrence Jones, the head of fixed-income analysis at Morningstar. The problem, some say, is that too many bond funds essentially have let credit-rating agencies do too much of their bond research for them. The agencies, including Standard & Poor’s, Moody’s and Fitch, judge the creditworthiness of the debt issuer and assign the bonds a rating. But critics have contended the ratings agencies’ research is too slow, flawed or both. Exhibit A: When the credit markets crashed, even many highly rated bonds (including Lehman Brothers and AIG bonds) tanked, taking funds that had leaned too heavily on the published ratings right along with them. For their part, the agencies say their ratings reflect a company’s most recent financial situation and are not intended to be forward-looking. Having an in-house research team doesn’t guarantee success, but many top-notch bond firms believe it helps keep them a step ahead. Pimco (LTPZ), which manages $841 billion, boasts that it doesn’t even subscribe to the published ratings, instead relying on its 60 analysts. So far, so good. Pimco managed to sidestep the worst of the mortgage crisis, in part because it dispatched analysts to interview mortgage brokers and real estate agents nationwide. Similarly, the Harbor High-Yield Bond fund (HYFRX) has benefited from the expertise of its subadviser, Shenkman Capital, a group dedicated to bonds issued by companies most at risk of bankruptcy. The fund won’t invest until an analyst has met with management, scoured the legal documents that establish who gets paid and how much if a company goes under, and written a 15-page credit analysis. Finally, no manager can buy a bond until the Shenkman credit committee gives approval. Other firms, such as BlackRock (BLK) and TCW (TSI), are known for their research groups, and T. Rowe Price (TROW) has a noted emerging-markets debt team. Of course, no fund manager will cop to leaning on research from ratings agencies. To find an independently minded bond fund, experts suggest comparing a fund’s holdings against the index. The closer a fund is to its benchmark, the more likely the managers are to be using the consensus research rather than forming their own opinion. SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 4 Oct 2009 | 10:00 pm Migration reform needed, says UNReforming migration policy will benefit Europe after the slump and address problems of ageing populations, the UN says.Source: BBC News | Business | World Edition | 4 Oct 2009 | 9:34 pm Goldman owed $1 billion if CIT failsNEW YORK (Reuters) - Goldman Sachs Group Inc would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.Source: Reuters: Business News | 4 Oct 2009 | 8:35 pm Spring rise for Auckland house sales continuesAuckland's property market is continuing its traditional spring bounce, according to new numbers from Barfoot & Thompson, the region's largest real estate firm.Its agents sold 917 homes during September, its second highest for...Source: nzherald.co.nz - Business | 4 Oct 2009 | 8:00 pm Dollar Outlook: Kiwi may fall on recovery fearsThe New Zealand dollar may fall this week as fears the global recovery may be slower than expected sap demand for higher-yielding, or riskier, assets amid weaker stock markets in the US and Europe.Five of seven economists and...Source: nzherald.co.nz - Business | 4 Oct 2009 | 7:30 pm Credit card deals could save retailers millionsThe Commerce Commission says agreements unveiled today with seven financial institutions could save retailers tens of millions of dollars.The agreements with the financial institutions follow settlements reached in August with...Source: nzherald.co.nz - Business | 4 Oct 2009 | 7:00 pm After delays, Cambodia rekindles stock market dream (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Oct 2009 | 6:48 pm Madoffs used business like piggy bank - trusteeBernard Madoff's brother, sons and a niece used the family finance business like a "piggy bank", a court-appointed trustee said as he demanded in a lawsuit they return almost $200 million that fuelled their lavish lifestyle at the...Source: nzherald.co.nz - Business | 4 Oct 2009 | 6:30 pm Smart meters 'need live displays'The government must insist that power companies provide clear visual displays when they install smart meters, says a report.Source: BBC News | Business | World Edition | 4 Oct 2009 | 6:26 pm Revenue’s cash rewards and confiscation targets ‘skewing justice’Senior prosecution officials have received personal bonuses for seizing defendants’ assets under an incentive scheme which, it is feared, could create miscarriages of justice. Source: Latest Business News from Times Online | 4 Oct 2009 | 6:01 pm The new Tories will stop class becoming casteAs the camera pans around the Conservative Party conference hall in Manchester today, the traditional stereotypes are guaranteed their 15 minutes of TV fame. Women wearing Thatcher blue with pearls; aged and angry country squires in tweed; and vaguely frightening young men in City suits and alpha male haircuts will be portrayed as the party’s rank and file. Source: Latest Business News from Times Online | 4 Oct 2009 | 6:01 pm Daniel Hannan: the Tory Eurosceptic MEP whom Labour loves to hateHe wears red, spotty braces, carries a Union Jack diary and sent his children to a nursery school called Little England. Daniel Hannan is the Tory Eurosceptic MEP who Labour loves to hate. Source: Latest Business News from Times Online | 4 Oct 2009 | 6:01 pm Apple analysts scrambleSource: Business and financial news - CNNMoney.com | 4 Oct 2009 | 5:55 pm Stocks may hit earnings speed bumps (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Oct 2009 | 5:24 pm Auctions show dealmakers’ creativityA KKR-led consortium is leading the bidding for the $1bn-plus services unit of Northrop Grumman in one of two auctions being watched to judge the health of the private equity industrySource: Financial Times - US homepage | 4 Oct 2009 | 4:50 pm Greek Socialists win landslide victoryCostas Karamanlis, the outgoing prime minister, had called the early election to seek a fresh mandate for unpopular structural reforms but the move backfired amid deteriorating economic conditionsSource: Financial Times - US homepage | 4 Oct 2009 | 4:20 pm Wal-Mart (NYSE:WMT) Medicine Is The Solution To The Health Care CrisisAmericans have known that we have had a health care crisis since our country was created. We have chosen to depend on doctors and nurses and hospitals to provide care in times of illness and injury and epidemics. At some point we developed health insurance to provide some financial coverage so that people would not [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Oct 2009 | 4:06 pm Geely faces US-led rivals in Volvo battleA US-led consortium is challenging Geely Automobile of China in the race to buy lossmaking Swedish carmaker Volvo from FordSource: Financial Times - US homepage | 4 Oct 2009 | 3:31 pm Goldman to be paid $1bn if CIT failsGoldman Sachs stands to receive a payment of $1bn – while US taxpayers would lose $2.3bn – if embattled commercial lender CIT files for Chapter 11 bankruptcy protectionSource: Financial Times - US homepage | 4 Oct 2009 | 3:30 pm US growth could pass 3%, says GreenspanUS growth could exceed 3 per cent this quarter as the economic recovery takes hold, Alan Greenspan, former Federal Reserve chairman, said in spite of a rise in unemployment numbersSource: Financial Times - US homepage | 4 Oct 2009 | 3:29 pm Is your iPhone in coma mode?Source: Business and financial news - CNNMoney.com | 4 Oct 2009 | 3:12 pm EU pushes Czechs for Lisbon approvalJosé Manuel Barroso, European Commission president, and Fredrik Reinfeldt, Sweden PM, will meet Jan Fischer, the Czech premier, to assess whether the treaty can receive final Czech endorsement before year-endSource: Financial Times - US homepage | 4 Oct 2009 | 3:10 pm BNP Paribas to raise £150m to spend on UK propertyThe independent property arm of BNP Paribas is to raise a £150m fund to spend on UK property.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Oct 2009 | 1:29 pm Military pressure rises as eight troops die in AfghanistanInsurgents stormed remote outposts in eastern Afghanistan killing eight Americans in the deadliest battle for more than a year and raising the pressure on western military strategistsSource: Financial Times - US homepage | 4 Oct 2009 | 1:27 pm Mittal set to quit $20bn Indian steel projectLakshmi Mittal, the chairman and main owner of the ArcelorMittal steel company, is close to pulling out of a $20bn plan to build two large steel plants in IndiaSource: Financial Times - US homepage | 4 Oct 2009 | 12:33 pm Earnings likely to determine stock rally's future (AP)AP - The stock market's bulls are slowing their charge, and upcoming earnings reports will determine whether they keep going forward or just stop.Source: Yahoo! News: Stock Markets News | 4 Oct 2009 | 11:13 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 | 4 Oct 2009 | 10:23 am Unemployment will top 10% - GreenspanThe U.S. economy will grow more than expected in the third quarter, but unemployment also will continue to increase and "penetrate" the 10% barrier, former Federal Reserve Chairman Alan Greenspan said Sunday.Source: Business and financial news - CNNMoney.com | 4 Oct 2009 | 10:22 am The Unusual Suspects (AA, MOS, YUM, CVC, CIT, LOCM, RVSN, WFC)It is the weekend and that means a review of last week’s unusual suspects and a review for key stocks in the week ahead. Technically earnings season gets its first earnings report from a DJIA component in ACLOA Inc. (NYSE: AA) this week, as well as earnings from The Mosaic Company (NYSE: MOS) and from [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Oct 2009 | 8:34 am
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