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Oil above $71 on dollar shake-upRead full story for latest details.Source: Business and financial news - CNNMoney.com | 6 Oct 2009 | 4:30 am Bilfinger Berger buys Austrian firm, shares rallyGermany’s Bilfinger Berger is to buy buy MCE, an Austrian industrial and power-services provider, for 350 million euros ($515 million).
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 4:30 am National retail group offers weak holiday forecast (AP)AP - After parents cut back on clothes and accessories for children this past fall, the retail industry suspects they won't be any more generous by the holidays.Source: Yahoo! News: Business | 6 Oct 2009 | 4:24 am Industrial output slides in AugustBritish industrial output fell unexpectedly in August, shocking economists who had been expecting growth, as factories shut down for the summer break and oil and gas plants closed for annual maintenance, official data showed today. Source: Latest Business News from Times Online | 6 Oct 2009 | 4:21 am Economic Report: British manufacturing fall sends sterling lowerBritish manufacturing output registers an unexpectedly sharp contraction in August, government data show, underlining worries about the strength of a U.K. recovery. Currency traders sell down the pound on the news.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 4:21 am IMF, World Bank map road to recoveryFinance chiefs from around the world focused on mapping out recovery from the global economic crisis at the annual meetings of the IMF and World Bank here on Tuesday, with a plea to includeSource: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 4:16 am Indications: U.S. stock futures point to second day of gainsU.S. stock futures on Tuesday point to a second day of gains, with the dollar back on the defensive after Australia breaks ranks and becomes the first of the major developed economies to lift interest rates.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 4:11 am Asia stocks rise, Sydney up despite rate hikeAsian equity markets end mostly higher Tuesday, with Australian stocks snapping a four-session losing streak after a surprise rate increase by the central bank.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 4:08 am Most Mac owners have WindowsSource: Business and financial news - CNNMoney.com | 6 Oct 2009 | 4:07 am Dell banking on PerotDell is on its way to making its biggest acquisition ever with its agreement last month to buy IT services provider Perot Systems for $3.9 billion. The move would reduce Dell's reliance on the corporate PC and server business and give it a foothold in the lucrative services business, which is a crucial source of profits for rival Hewlett-Packard. But investors are skeptical.Source: Business and financial news - CNNMoney.com | 6 Oct 2009 | 4:06 am Apple quits CommerceSource: Business and financial news - CNNMoney.com | 6 Oct 2009 | 4:02 am Chrysler Fires Top Management As Sales Get WorseChrysler is in deep trouble. It is deep enough that analysts and the media have questioned whether it has enough cash to make it through a turnaround, especially in a harsh auto sales enviroment in the US. The head of Fiat who now runs Chrysler as well gave a sign that the problems at Chrysler are [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Oct 2009 | 4:00 am First G-20 economy to hike rates is ...Read full story for latest details.Source: Business and financial news - CNNMoney.com | 6 Oct 2009 | 4:00 am GMSDC Names AT&T 'Corporation of the Year' During Its 34th Annual Awards Dinner Honoring Excellence in Supplier Diversity and Minority Business DevelopmentEthnic-minority-owned Companies, Corporations and Industry Titans Honored in Blue Carpet Style ATLANTA, Oct. 6 /PRNewswire/ -- On September 25th, one might have...Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 4:00 am Media Report: Starz holding steady in down economyStarz Entertainment saw its revenue grow despite an overall slowdown in cable subscribers, as the premium movie service offers a focused approach to its audiences.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 4:00 am Cross Country Home Services Hires 135 New Employees at Anderson, S.C. Customer Care FacilityCompany Marks One Year Anniversary of Facility's Grand Opening, Notes Successful Community Partnerships and Projects Strong Growth FORT LAUDERDALE, Fla., Oct. 6...Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 4:00 am World's First Shari'ah-Compliant Longevity-Linked Investment Platform DebutsALISO VIEJO, California, October 6 /PRNewswire/ -- - Innovative New Platform Allows Islamic Investors to Diversify Holdings Using an Uncorrelated Asset ClassSource: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 4:00 am Germany more bullish on economic outlookGermany is poised to recover faster than originally thought from a crippling recession, a government spokesman said on Tuesday, revising up a forecast for output this year in Europe's top...Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 3:57 am Shock fall in industrial outputUK industrial output fell unexpectedly in August, official figures show, casting doubt on the strength of the economy.Source: BBC News | Business | World Edition | 6 Oct 2009 | 3:55 am Verizon vs. AT&T: There's a map for thatSource: Business and financial news - CNNMoney.com | 6 Oct 2009 | 3:55 am Russia pledges to overcome 'fatal' oil dependenceRussia must move beyond its "fatal" dependence on oil exports and reorient its economy around high-tech and innovation, President Dmitry Medvedev said on Tuesday. "Our post-crisis...Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 3:51 am Stocks ready to jumpU.S. stock futures climbed Tuesday, lifted by optimism about the global economic recovery.Source: Business and financial news - CNNMoney.com | 6 Oct 2009 | 3:49 am Make the most of your vacationYou're probably starting to think about what you and your family will do over the winter holidays. Spend a week at Mom's in Tucson? Jet to Paris? Stay home and clean the basement?Source: Business and financial news - CNNMoney.com | 6 Oct 2009 | 3:49 am Holiday Retail Sales To Be BatteredRetail sales dropped 3% or more during the 2008 holiday period. Same-store sales at a number of large chains were down much more than that. The trend was so bad that thousand of store locations where closed early in 2009 and tens of thousand of people in the industry lost their jobs. The 2010 holiday sales [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Oct 2009 | 3:43 am Stock futures signal firmer Wall St start(Reuters) - U.S. stocks are expected to trade higher on Tuesday as the futures for the Dow Jones industrial average, S&P 500 and Nasdaq Composite were up 0.2 to 0.3 percent at 4.18 a.m. ET.Source: Reuters: Business News | 6 Oct 2009 | 3:41 am Tories plan rise in pension ageThe Tories unveil plans to raise the state pension age for men to 66 from 2016, to help tackle the UK's debts.Source: BBC News | Business | World Edition | 6 Oct 2009 | 3:41 am World markets buoyed by recovery hopes (AP)
Source: Yahoo! News: Stock Markets News | 6 Oct 2009 | 3:40 am Macquarie adds to string of international hiresMacquarie Group has made the latest in a string of high-profile international hires after naming Sam Small as head of its European mergers and acquisition business on Tuesday.It comes as the Australian...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 3:38 am Oil states say no talks on replacing dollarISTANBUL/SYDNEY (Reuters) - Big oil producing nations denied on Tuesday a British newspaper report that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the U.S. dollar with a basket of currencies in trading oil.Source: Reuters: Business News | 6 Oct 2009 | 3:37 am Oil states say no talks on replacing dollar (Reuters)
Source: Yahoo! News: Business | 6 Oct 2009 | 3:37 am When will revenues make a comeback?More and more economists are talking about how they think the economy actually grew in the third quarter. Unfortunately, it might be hard to find evidence of that once companies start reporting their latest quarterly results.Source: Business and financial news - CNNMoney.com | 6 Oct 2009 | 3:36 am Miners lead the way in FTSE rallyA strong showing from miners and an upgrade to Rolls-Royce, the engineering group, saw the FTSE surge afresh this morning. Source: Latest Business News from Times Online | 6 Oct 2009 | 3:35 am UPDATE 2-New Glaxo orders point to big flu vaccine windfall* Discussions continue with governments for further suppliesSource: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 3:32 am Dollar falls on oil plan reportThe dollar falls after a report that Gulf states are in secret talks to replace the greenback as the main oil currency.Source: BBC News | Business | World Edition | 6 Oct 2009 | 3:30 am New Begin Smart(TM) Books Engage Babies as They Grow and LearnCHAPPAQUA, N.Y., Oct. 6 /PRNewswire/ -- New books in Begin Smart's leveled Read-and-Play Program challenge and delight babies up to two years old with age-appropriate...Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 3:30 am Scam hits more e-mail accountsA phishing attack originally thought to be directed only at Hotmail may have hit thousands of other e-mail users.Source: BBC News | Business | World Edition | 6 Oct 2009 | 3:28 am UPDATE 1-Glaxo enters joint venture with China's Walvax* Is part of Glaxo's strategy to expand in emerging markets (Adds details)Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 3:28 am Samsung sees strong Q3; profits may have peakedSEOUL (Reuters) - Samsung Electronics' stronger-than-expected quarterly earnings forecast on Tuesday failed to impress investors, who are worried a fast recovering won and competition are starting to cut into profits.Source: Reuters: Business News | 6 Oct 2009 | 3:26 am Peston's picksCustomers will pay the price for banks being virtuousSource: BBC News | Business | World Edition | 6 Oct 2009 | 3:23 am SocGen raises €4.8bn to repay governmentSociété Générale, the French bank, today announced a €4.8 billion (£4.4 billion) cash call to shareholders to allow it to buy back the stake bought by the French Government at the height of the credit crunch. Source: Latest Business News from Times Online | 6 Oct 2009 | 3:17 am N Korea ready to resume nuclear arms talksNorth Korea says it is ready to return to international talks on ending its nuclear weapons programme but demands negotiations with the US firstSource: Financial Times - US homepage | 6 Oct 2009 | 3:16 am UPDATE 1-Deals of the day -- mergers and acquisitionsOct 6 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Tuesday. (For Reuters columns on deals, click [DEALTALK...Source: RSS feed - channel BNewsBusiness | 6 Oct 2009 | 3:13 am SocGen plans 4.8bn capital-raisingSocit Gnrale launched a 4.8bn rights issue on Tuesday to repay a government bail-out, following the lead set by BNP Paribas, France's biggest bank, last week. Socit Gnrale, the country's third biggest...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 3:13 am SocGen plans €4.8bn capital-raisingSociété Générale has unveiled a €4.8bn capital-raising to repay state support and pursue acquisitionsSource: Financial Times - US homepage | 6 Oct 2009 | 3:13 am More signs of house price risesHouse prices increased for the third month in a row in September and showed the first quarterly rise for two years, figures show.Source: BBC News | Business | World Edition | 6 Oct 2009 | 3:13 am Australia raises rates from 49-year lowAustralia became the first G20 nation to raise interest rates since the economic crisis hit when its central bank increased the official cash rate from 3% to 3.25%Source: Financial Times - US homepage | 6 Oct 2009 | 3:11 am The Pay Czar Seizes Power From Bank BoardsSEC regulations for public companies say that compensation committees for the boards at public companies recommend pay for senior managers and those recommendations are then given to the entire board of directors for approval. The information is reported in every proxy along with the methods used to arrive at compensation of top officers. Pay czar Kenneth [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Oct 2009 | 3:09 am House prices surge 1.6% in SeptemberHopes for a recovery in the housing market were fuelled today as Halifax, the building society, recorded a 1.6 per cent increase in house prices for September. Source: Latest Business News from Times Online | 6 Oct 2009 | 3:08 am DNO rallies after resolving Kurdistan disputeShares of DNO International rally over 30% on Tuesday as the Norwegian oil group receives permission from the regional Kurdistan government in Iraq to resume production.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 3:07 am Potential end of dollar-based oil deals lifts goldGrowing speculation over the potential end to dollar-based trading in the oil market may be part of the reason gold prices have rallied beyond $1,020 an ounce to stand near their highest level in 18 months.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 3:07 am London Markets: Miners help British stocks to gain groundBritish shares advance on Tuesday, lifted by gains in the mining sector as gold futures climb back over $1,020 an ounce.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 3:03 am Stock futures signal firmer Wall St start (Reuters)
Source: Yahoo! News: Business | 6 Oct 2009 | 3:01 am Stock futures signal firmer Wall St start (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Oct 2009 | 3:01 am Economic Report: Sept. British house prices up 1.6%: HalifaxBritish house prices rise for the third straight month in September, jumping 1.6% from August, mortgage lender Halifax says Tuesday.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 2:57 am SocGen set to raise 4.8bn eurosFrench bank Societe Generale plans to raise 4.8bn euros in a share issue to enable it to repay emergency state aid.Source: BBC News | Business | World Edition | 6 Oct 2009 | 2:52 am The Solar Shingle And The False Promise Of New TechnologyMicrosoft’s (NASDAQ:MSFT) Windows 7 will be better than Microsoft Vista. The world’s largest software company has learned from the mistakes it made with Vista which users found too complicated. But, Microsoft assumes that customers always want to upgrade to the latest version of its operating system. That does leave out the millions of people who never [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Oct 2009 | 2:46 am Talking panda helps boost Northern FoodsNorthern Foods said on Tuesday that sales of discount sandwiches and a talking panda bear called Vinnie helped compensate for a decline in the popularity of chilled ready meals.The maker of Goodfellas...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 2:46 am SocGen raising $7 billion to repay governmentFrench bank Societe Generale says Tuesday that it will sell 4.8 billion euros ($7 billion) of shares to repay aid it received from the French government.
Source: MarketWatch.com - Top Stories | 6 Oct 2009 | 2:46 am Executive shake-up at 2 Hollywood studiosSource: Business and financial news - CNNMoney.com | 6 Oct 2009 | 2:45 am Miners help FTSE edge higherLondon equity markets were stronger on Tuesday, but a note of caution prevailed as investors awaited US earnings season, and mulled the implications of the surprise decision from Australia to raise interest...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 2:44 am Zimbabwe row over donor moneyKey figures in Zimbabwe's power-sharing government are divided over how to spend recently restored donor funding.Source: BBC News | Business | World Edition | 6 Oct 2009 | 2:43 am Tesco heralds UK fightbackTesco, the international grocery retailer, said on Tuesday that it had started to see an improvement in its performance relative to its main UK rivals after revamping its loyalty card scheme.It also announced...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 2:36 am Starwood/TPG team wins Corus asset auction: sourceNEW YORK (Reuters) - A group of investors led by Starwood Capital Group and private equity firm TPG have won the auction for assets of failed Corus Bank, in a deal that will see them invest about $554 million, a source familiar with the situation said on Tuesday.Source: Reuters: Business News | 6 Oct 2009 | 2:35 am Strong increase in new car salesUK sales of new cars rose by 11.4% in September, compared with the same month last year, the third rise in a row.Source: BBC News | Business | World Edition | 6 Oct 2009 | 2:35 am GSK collects fresh swine flu vaccine ordersGlaxoSmithKline (GSK), the pharmaceuticals group, has received 22 fresh government orders for its swine flu vaccine, equivalent to a further 149 million doses of the drug. Source: Latest Business News from Times Online | 6 Oct 2009 | 2:17 am GrainCorp buys US malt maker for $655mGrainCorp, the Australian grain storage and handling group, is to expand its international footprint by agreeing to buy United Malt Holdings of the US for A$757m (US$655m).GrainCorp, which is buying UMH...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 1:58 am Australia raises interest ratesAustralia raises its main interest rate to 3.25% from 3%, the first G20 nation to do so as the global economy begins to recover.Source: BBC News | Business | World Edition | 6 Oct 2009 | 1:57 am Media Digest 10/6/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: The pay czar plans to rework employee pay at large banks. Reuters: Hewlett-Packard (NYSE:HPQ) may enter the tech M&A frenzy. Reuters: Microsoft (NASDAQ:MSFT) says some Hotmail passwords were exposed. Reuters: The US called for rigorous IMF surveillance to spot new investment bubbles. Reuters: Roubini said the Fed has to carry out an exit strategy. WSJ: Apartment vacancies rose to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Oct 2009 | 1:53 am United States calls for rigorous IMF surveillanceISTANBUL (Reuters) - U.S. Treasury Secretary Timothy Geithner on Tuesday called on the International Monetary Fund to provide rigorous surveillance to spot new investment bubbles and keep country foreign exchange policies in line with goals to rebalance the global economy.Source: Reuters: Business News | 6 Oct 2009 | 1:47 am Samsung forecasts strong quarter as sales recoverSamsung Electronics, the world's largest maker of memory chips and liquid crystal display screens, on Tuesday unveiled strong earnings guidance for the third quarter after sales of televisions and mobile...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 1:40 am Australia raises interest ratesAustralia today became the first OECD country to raise interest rates as its central bank increased the cost of borrowing from 3 per cent to 3.25 per cent. Source: Latest Business News from Times Online | 6 Oct 2009 | 1:35 am Tesco half-year profits top £1.4bnTesco, Britain's largest grocer, unveiled modest UK sales growth in the first half of just 2.7 per cent to £20.6 billion while overall profit before tax edged up just 1.5 per cent to £1.42 billion. Source: Latest Business News from Times Online | 6 Oct 2009 | 1:32 am Asia Markets And Europe Open 10/6/2009Markets in Asia were up slightly with Shanghai closed. The Nikkei rose .2% to 9.692. The Hang Seng was up .7% to 29,564. At the open in Europe, the FTSE rose .6% to 5,054. The Dax was higher by .6% to 5,541. Deutche Bank (DB) rose. The CAC 40 was up .5% to 3,695. BNP Paribas (BNP) rose. Data [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Oct 2009 | 1:24 am United States calls for rigorous IMF surveillance (Reuters)
Source: Yahoo! News: Business | 6 Oct 2009 | 1:11 am Will this milk commercial get sales?A Web-only 'rock opera' featuring milk pitchman White Gold is a weird new breed of branded entertainment.The San Francisco powerhouse agency Goodby, Silverstein & Partners takes as its corporate mantra "art serving capitalism." But I wonder if it shouldn't be the other way around?
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am Ban on fast-food eateries is no fat cure, study saysBarring new restaurants in South L.A. is unlikely to curb obesity, Rand researchers say.A regulation banning the establishment of new fast-food restaurants in South Los Angeles is unlikely to curb obesity rates, according to a study by researchers at Santa Monica think tank Rand Corp.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am Disneyland Resort president to retireEd Grier, the first African American to oversee the Anaheim properties, will step down Friday after 28 years with Disney.The president of the Disneyland Resorts in Anaheim, the first African American to oversee the theme park, announced his retirement Monday.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am Conde Nast's closure of Gourmet shakes up magazine industryThe end of the venerable publication and three others underscores the swift and brutal fall of the once highflying business amid a steep drop in ad revenue. ...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 1:00 am Conde Nast's closure of Gourmet shakes up magazine industryThe end of the venerable publication and three others underscores the swift and brutal fall of the once highflying business amid a steep drop in ad revenue.Two years ago, Conde Nast's Vogue published its biggest issue, an advertising-packed behemoth that symbolized the prosperity of New York's glittering magazine industry as it rode the twin booms in the economy and luxury spending to dramatic heights.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am Chrysler replaces two top executives, splits Dodge brandPeter Fong, who led the Chrysler brand, and Michael Accavitti, who led Dodge, were promoted just months ago. They left voluntarily, Chrysler says. Ralph Gilles, Fred Diaz and Olivier Francois move up.Chrysler has put bankruptcy behind it, but turmoil at the company continues.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am MGM Mirage to slash prices of Las Vegas condos by 30%The cuts are intended to mollify buyers who bought the high-end CityCenter units during the real estate boom. ...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 1:00 am Universal ousts chairmen of film studioMarc Shmuger and David Linde are forced out at Universal Pictures after a string of costly box-office flops and infighting that had become a major disruption.The decision Monday to oust Universal's two top movie executives comes at a time when the studio's corporate parent, NBC Universal, may be facing dramatic upheaval of its own.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am Bloggers face disclosure rulesThose writing product reviews will have to divulge the financial benefits they receive -- such as payments, gifts or free vacations -- under federal guidelines that go into effect Dec. 1.Bloggers have gotten so big that they're about to be regulated -- at least when they accept money or in-kind services from a company whose products they review.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am Rich Ross named chief of Walt Disney StudiosDisney Channel, under Ross' lead, has been a hothouse for talent and ideas that could be packaged and franchised. Now Ross turns his attention to the flagging movie studio.Rich Ross, the television executive who helped revive the moribund Disney Channel, now has to prove he can work movie magic at Walt Disney Studios.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am To star in school assemblies, stunt team needs to study Twitter, Facebook, LinkedInThe question for Pasadena-based daredevil duo TNT Dunk Squad is how to make inroads with PTA parents to land in-school gigs. The answer? Social media.The daredevils at TNT Dunk Squad like nothing better than to execute high-flying trampoline stunts and acrobatic basketball slam-dunks for Los Angles Clippers and Lakers fans, college-basketball audiences and special-events crowds worldwide.
Source: L.A. Times - Business | 6 Oct 2009 | 1:00 am The Treasury 'lost credibility' on initial TARP aid, audit saysThe inspector general for the Troubled Asset Relief Program, says officials had concerns about the finances of several of the nine banks in which the government invested $125 billion last October. ...Source: RSS feed - channel BNPaperBusiness | 6 Oct 2009 | 1:00 am Aussie stocks close strongerSYDNEY - The Australian share market closed stronger on Tuesday but well off its early highs after the central bank decided to raise the key cash rate.The benchmark S&P/ASX200 index closed up 18.3 points, or 0.4 per cent, at 4591.6...Source: nzherald.co.nz - Business | 6 Oct 2009 | 12:57 am NZ market posts modest gainsThe New Zealand sharemarket posted modest gains on a day in which investors were focused mostly on the Australian interest rate decision.The benchmark NZSX-50 index closed up 12.826 points, or 0.409 per cent, at 3151.548.It...Source: nzherald.co.nz - Business | 6 Oct 2009 | 12:45 am Australia central bank raises rates, more expectedSYDNEY (Reuters) - Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.Source: Reuters: Business News | 6 Oct 2009 | 12:45 am NZ dollar rises as Aussie rates climbThe New Zealand dollar rose strongly today even though the Reserve Bank of Australia raised its official cash rate to 3.25 per cent from 3 per cent at 4.30pm local time.Derek Rankin at Rankin Treasury said the dollar's strength...Source: nzherald.co.nz - Business | 6 Oct 2009 | 12:43 am Australia central bank raises rates, more expected (Reuters)Reuters - Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.Source: Yahoo! News: Business | 6 Oct 2009 | 12:41 am Bremmer, Roubini: Fed has to implement exit strategy(Reuters) - The U.S. Federal Reserve must pre-emptively state it will not buy more Treasury bills in order to implement a cohesive exit strategy from the massive monetary bailouts it has provided, economic consultants Ian Bremmer and Nouriel Roubini wrote in an opinion column on the Wall Street Journal's website.Source: Reuters: Business News | 6 Oct 2009 | 12:39 am Pay czar looking to rework employee pay packages: report (Reuters)Reuters - The Obama administration's pay czar plans to cut the cash salaries of the top employees at seven firms that have received large sums of government aid, in a bid to reshape their compensation packages, the Wall Street Journal said on Tuesday, citing people familiar with the matter.Source: Yahoo! News: Business | 6 Oct 2009 | 12:22 am Pay czar looking to rework employee pay packages: report(Reuters) - The Obama administration's pay czar plans to cut the cash salaries of the top employees at seven firms that have received large sums of government aid, in a bid to reshape their compensation packages, the Wall Street Journal said on Tuesday, citing people familiar with the matter.Source: Reuters: Business News | 6 Oct 2009 | 12:22 am Holiday sales set to fall as buyers hang backUS retail sales over November and December will fall to the levels of four years ago as shoppers continue to keep a tight grip on their wallets, the largest US retailers’ group has warnedSource: Financial Times - US homepage | 5 Oct 2009 | 10:07 pm TSX gains as U.S. data lifts oil, banks and hope (Reuters)Reuters - Toronto's main stock index finished more than 1 percent higher on Monday as investors returned to equities following a two-week slide, snapping up shares of banks and oil and gas companies.Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 9:42 pm Hotel at airport for World Cup fansA 150-room hotel planned for Auckland Airport will be ready in time to greet visitors to the city for the 2011 Rugby World Cup, its developers promise.The hotel, to be known as Sudima Hotel Auckland Airport, will cost $30 million...Source: nzherald.co.nz - Business | 5 Oct 2009 | 8:30 pm Hagenbuckle on U.S. Real Estate, Deng on Chinese Timber: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 8:10 pm Disney, Universal name new studio chiefsLOS ANGELES (Reuters) - The Walt Disney Co and Universal studios unveiled changes at the top on Monday, as Hollywood's worst-performing major houses try to turn things around in a potentially record year at the box office.Source: Reuters: Business News | 5 Oct 2009 | 7:51 pm Big in Japan, but could America love Moomin?HELSINKI (Reuters) - In one of the quirkiest book cults America has never heard of, a round-snouted troll is hauling consumers' wallets from their pockets despite the worst recession in decades.Source: Reuters: Business News | 5 Oct 2009 | 7:01 pm Homes more affordable as interest rates fallHomes became more affordable in the three months to August 31 mostly because of low interest rates, according to the Massey University Home Affordability report.Home affordability improved by 2.3 per cent in the quarter, which...Source: nzherald.co.nz - Business | 5 Oct 2009 | 7:00 pm George Osborne plans to increase retirement age to 66 to save £13bnThe state retirement age would rise to 66 within seven years under a Conservative government, ten years earlier than planned, George Osborne will announce today. Source: Latest Business News from Times Online | 5 Oct 2009 | 6:01 pm Residential care scheme may need top-up payments, Tories admitElderly people who pay £8,000 to join the Conservatives’ proposed residential care scheme may still have to pay annual top-ups, The Times has learnt. Andrew Lansley, the Shadow Health Secretary, called the scheme “a guarantee that absolutely all fees for permanent residential care would be waived for life”. Source: Latest Business News from Times Online | 5 Oct 2009 | 6:01 pm Services sector turns in best figures for two years, but ‘fragile’ warnings remainBritain’s services sector expanded at its fastest rate in two years in September, taking optimism to its highest level since April 2007 and boosting expectations that the country emerged from recession in the third quarter. Source: Latest Business News from Times Online | 5 Oct 2009 | 6:01 pm Sharemarket takes positive leadThe New Zealand sharemarket followed the overnight lead of offshore markets, opening firmly today.The benchmark NZX-50 index, which shed 10.137 points yesterday, rose 14.30 points or 0.46 per cent to 3153.02 in the first 15 minutes...Source: nzherald.co.nz - Business | 5 Oct 2009 | 5:50 pm Write-Offs: 10.05.09$$$ Bank of America has no idea who it's going to name CEO. A suggestion-- go through the list of talented employees KL "brutally fired" on account of being threatened by them, starting with this genius, whose canning apparently came down from the top. [NYT] $$$ NYC Taxis Are Made Of Gold [Cityfile] $$$ In Defense of Goldman's $1 Billion Payoff From CIT [The Atlantic] $$$ The Demise Of The Dollar [Independent] $$$ Matt Taibbi Falls For A Naked Short Selling Hoax Video [BI] $$$ "Mr. Eitel also spent a great deal of time wooing clients from his 80-foot yacht, Eitel Time. With his boat, which had 11 televisions, a hot tub on the flybridge and a sunken granite-topped bar in the salon, Mr. Eitel took customers out for cocktail cruises and junkets to Martha's Vineyard. Drinks were always frosty, thanks to the on-board ice machine, which could churn out 600 pounds of ice a day." [NYT] 
 Sponsored Topics: marthas-vineyard - Bank of America - Massachusetts - United States - Atlantic Ocean Source: Dealbreaker | 5 Oct 2009 | 5:45 pm SEC standardizes rules for U.S. "erroneous trades" (Reuters)Reuters - The U.S. Securities and Exchange Commission on Monday adopted a single set of rules for "clearly erroneous" trades, eliminating a mixed bag of standards that exchanges used to monitor increasingly electronic trading.Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 5:32 pm Paolo Pellegrini Made John Paulson Smile Once
"After hearing a lot of arguments for and against the presence of the bubble, we had a simple and clear insight of our own to go by," Pellegrini says. Careful analysis shows that this statement is not exactly true. Paulson JP practically grins when seated next to Jack Welch's German doppelgänger. No matter-- Pellegs made Paulson smile once and then the two got back to making money and taking money, only occasionally glancing up to motion to a life-size cutout of Alan Greenspan and go "look at this idiot" to each other. Fast-forward to the end of 2008 (and a bunch of dollars later) and Pellegrini, by several accounts, proposed to Paulson and Pals that his new purview permit him to indulge himself a bit more. Basically Pellegs wanted the go-ahead to spends his days waxing poetic on larger geopolitical issues that required constant consultations with peers like Henry Kissenger, David H. Petraeus, Tila Tequila, etc, and to spend less of his time slicing numbers to figure out if Ben Bernanke was going to survive the next option arm reset (he also wanted more money to do so). The two parties diverged from there, with P-squared being more encouraged to leave the building (as opposed to leaving on his own terms) than is necessarily suggested here. It's not that JP and Pals were opposed to P^2 drastically redefining what he did for the firm but apparently the attitude that came with the demand that 'Legs have a red phone to Putin installed in his office and be referred to as "The Talent" in front of the Limited Partners was rubbing people the wrong way. And now you're all going to potentially benefit! P.Legs struck out on his own with PSQR Management, which returned 80 percent through July and will be marketed to outsiders (for now it's all his money) in 2010. Presumably he'll be looking to hire a few more man boys to help run the the place sometime soon. Let's try Pellegs on for size. If you like what you see, if it's all you ever wanted (superficially) in a boss, considering shooting a res.
Sponsored Topics: Ben Bernanke - Alan Greenspan - Economic - Tila Tequila - Jack Welch Source: Dealbreaker | 5 Oct 2009 | 5:22 pm What Is Time Warner Worth? The 2006 Icahn Break-Up Model RevisitedLazard Freres delivered Carl Icahn a break-up analysis of Time Warner (NYSE:TWX) in late January 2005. Icahn had bought five million shares in the media company and he wanted the board to sell the company’s cable and publishing units. Either move, he reasoned, would decrease Time Warner’s heavy debt load. Icahn is long gone, but the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 4:46 pm Universal bets on LeBron's global appealUniversal Pictures, a film studio in need of a rebound, is hoping that the growing international popularity of basketball - and the allure of one of its greatest stars, LeBron James - will help it improve its fortunes at the box officeSource: Financial Times - US homepage | 5 Oct 2009 | 4:46 pm NZ economy is on the mend - surveyA key business survey suggests the economy is on the mend, but while firms expect a significant acceleration in the December quarter, recent performance was weak.The New Zealand Institute of Economic Research's (NZIER) quarterly...Source: nzherald.co.nz - Business | 5 Oct 2009 | 4:20 pm Iceland’s steamy watersIceland: A year since the island faced bankruptcy, enthusiasm for EU membership is cooling and a new and fragile coalition sees economic revival ahead – but others fear the worst may be yet to comeSource: Financial Times - US homepage | 5 Oct 2009 | 4:10 pm Citi to outsource some investment servicesCitigroup will outsource some investment services to outside advisers, in a further shift away from the company’s 20-year focus on marrying brokerage and bankingSource: Financial Times - US homepage | 5 Oct 2009 | 4:07 pm Stocks jump on service industry, bank reports (AP)
Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 3:56 pm Podcast: The Health Care Economist Is In
An appendix blows in Brooklyn.(See-ming Lee/Flickr Creative Commons) On today's Planet Money: You've seen those crazy-looking medical bills, the ones with row after row of prices and treatment codes. How about one that says the service cost $1,200, except your insurer paid $400 and you the patient owe nothing? Where did that other money go? Doctor bills are complicated enough to make you go looking for a Harvard health care economist. Which is just what we did. Today, professor Joseph Newhouse fields your questions. Bonus: In Canada, the clinics look shabby but there are no co-pays. Download the podcast; or subscribe. Intro music: Destiny's Child "Bills, Bills, Bills." Find us: Twitter/ Facebook/ Flickr. On the podcast Wednesday, we asked which country's health care system you'd move for, if you could. Russell Cobb writes from Edmonton, Alberta: I actually did transport myself, from the U.S. to Canada, a little over a year ago. I've got to say, the US debate about health care reform is pretty mystifying from North of the border. I went from having some crappy high-deductible plan that I didn't really understand to having full coverage from the government. To me, there's really no debate at all. The Canadian system is just much more humane and effective. That said... it's kind of shocking for an American to visit Canadian clinics. They are run very cheaply. Many won't even pay for new magazines in the waiting room. They look like they were last remodeled in 1977, with wood paneling and orange carpet. It's tough to find a family doctor and there's a shortage of nurses. But nothing beats running down to the local Medicentre because you feel a cold or flu coming on. You see a doc within half an hour and when you're done, you walk out the door. No co-pays, no credit cards -- just slightly higher taxes! » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Oct 2009 | 3:55 pm Schaja Says ETFs `Superior Product' to Mutual Funds: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 3:53 pm Minack Discusses Australian Economy, Earnings, Growth: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 3:36 pm How the major stock indexes fared on Monday (AP)AP - The first growth in the service industry in a year and upbeat comments about big banks pulled investors into the stock market after two losing weeks.Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 3:28 pm FSA sets out tough new liquidity rulesUK banks and investment firms will have to increase their holdings of cash and government bonds by £110bn and cut reliance on short-term funding by 20% in the first year of proposed new rulesSource: Financial Times - US homepage | 5 Oct 2009 | 3:19 pm Presented By:Source: Dealbreaker | 5 Oct 2009 | 3:12 pm The Wu-Tang Clan Is Not Above The Law
Method Man Arrested On $33,000 Tax-Evasion Charge [MTV]
Sponsored Topics: Internal Revenue Service - Tax avoidance and tax evasion - Banking in Switzerland - Tax - MTV Source: Dealbreaker | 5 Oct 2009 | 3:12 pm Nutrisystem Scores Wal-Mart Intro (NTRI, WMT)Nutrisystem, Inc. (NASDAQ: NTRI) has just announced that has aligned with Wal-Mart Stores Inc. (NYSE: WMT) to allow customers to purchase a Nutrisystem 14-Day Starter Program for the first time in the retail channel. This will begin rolling out nationwide at more than 3,200 Wal-Mart locations in the first week of October and will also be available [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 3:01 pm Mosaic Misses A Low Bar, Yet Holds Up (MOS)The Mosaic Company (NYSE: MOS) was one stock where we noted that the bar for earnings expectations was very low. The fertilizer and potash player came even lower. It posted $0.23 EPS rather than $2.65 EPS a year ago and under the $0.35 EPS target. Quarterly revenues were down 66% to $1.5 billion, versus $2.9 billion [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 2:43 pm Come And Get It
Earlier: Introducing The Meredith Whitney Advisory Group
Sponsored Topics: Cookies - Home - Cooking - Baking and Confections - Baked Goods Source: Dealbreaker | 5 Oct 2009 | 2:35 pm Celebrities face endorsement crackdownAdvertisers and celebrities who endorse their services will be liable for any untruthful statements made about products as part of a crackdown by US regulators on a wide range of deceptive marketing practices.Source: Financial Times - US homepage | 5 Oct 2009 | 2:26 pm Can't Find A Job Because You Lost A Job?
Where are the laid-off lawyers? (Source: Bureau of Labor Statistics) By Laura Conaway Some of the scariest words I've read all day appeared in Above the Law. The blog writes that law firms looking to hire won't give laid-off associates a chance: Some firms are willing to consider attorneys from firms that have announced layoffs due to economic reasons, but they refuse to look at resumes from firms that have conducted "stealth" layoffs. The theory is that even if the economy played a role in the decision to let people go, firms "don't want to hire somebody else's problem." Are you folks out there experiencing this kind of thing? If people who've been laid off can't get new jobs because they've been laid off, then we are in for a world of pain, people. Already job searches are taking record amounts of time. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Oct 2009 | 2:18 pm Barney Frank Proves He Is A Gambling Man
Apparently even in this environment, B-Frank has few reservations about going double or nothing. Frank Urges Using $2 Billion Repaid to TARP on Foreclosure Aid [Bloomberg]
Sponsored Topics: Barney Frank - Foreclosure - Mortgage - Troubled Assets Relief Program - Business Source: Dealbreaker | 5 Oct 2009 | 2:15 pm Gimbel Says Auto, Steel Jobs Won’t Be Coming Back (Correct)Source: Bloomberg - All Podcasts | 5 Oct 2009 | 2:11 pm Scam Your Employer For A Steak TonightYou deserve it, and your $25 (JPM), $20 (Goldman), $8 (RBS) meal allowances will only get you so far. The Wall Street Journal shows us how it's done: Enter Midtown Manhattan steakhouse Maloney & Porcelli's "Expense-a-Steak" tool. The premise is simple: enter the amount of your restaurant bill, click "EXPENSE IT!", and the program automatically generates a print-ready page of fake receipts for work-related expenses like office supplies and cab fare totaling the same amount -- so power-lunchers can enjoy their steak frites without drawing the boss's ire.
Sponsored Topics: Bank of America - Wall Street Journal - JPMorgan Chase - AmericanExpress - Citibank Source: Dealbreaker | 5 Oct 2009 | 2:06 pm 52-Week High ClubBanco Bradesco Sa (NYSE: BBD) hit a early high of $20.79 today, carried by the hype surrounding South American banks over the past few weeks. The company is also undoubtably benefiting from the “Olympics effect”. Jefferies Group (NYSE: JEF) hit a yearly high of $28.03 following news that the company had launched its first ETF. Och-Ziff Capital Management (NYSE: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Oct 2009 | 2:04 pm SEC OKs rules for canceling erroneous stock trades (AP)AP - Federal regulators have approved new rules for stock exchanges for nullifying erroneous trades deemed wildly out of sync with current prices.Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 2:00 pm Heritage West's Preston Sees Gold Over $1,200 an Ounce: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 1:52 pm Silverblatt Says Firms Must Boost Sales for Earnings: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 1:27 pm First Year IBD Analysts Only BarCap Employees Not Getting Screwed, Says BarCap AssociatesLast week we were informed of the unbelievable news that 1st/2nd/3rd year sales&trading analysts head been led to believe (by their own assumptions) that they'd be getting 10k salary bumps because 1st/2nd/3rd year banking analysts got raises and fair is fair. Apparently not in Phil Mickelson's house! The s&t'ers got nothing, and what stung the most, we're told, is that HR didn't even think to say it was sorry for getting the junior rainmakers' hopes up. Today, it gets even worse. From an associate who, Bob Diamond I hope you're listening good and hard, is thisclose to considering the possibility of maybe leaving if a more desirable situation (a call back from Dick Fuld's new shop) presents itself: Just a heads up, the same call/conversation took place with the IBD analysts/associates last week. The analysts had their conference call first in which they were told they would be getting a $10k bump to $70k/$80k/$90k (1st/2nd/3rd). All the associates heard the cheering on the floor and when we found out what was going on, expected the same bump on our call scheduled for 15 minutes after the analyst call. Needless to say, we didn't get the bump. We were told the firm would "reevaluate" the base salary situation in march (most likely after everyone has already left for other firms). What's more, the folks coming in through the Barclays side get paid $10k more than the Lehman associates.
Sponsored Topics: Barclays - Robert Diamond - Phil Mickelson - Human resources - Business Source: Dealbreaker | 5 Oct 2009 | 1:16 pm Mistake #7: Making It Personal
You love to talk, and you’ve got stories to tell. But is work the place to bond over personal dramas? This is the seventh in the series 8 Mistakes Men Don’t Make. Making things personal is different than taking things personally. (We’ll get to that in #8.) Making it personal refers to the over-sharing and personal story telling we sometimes do at work. This can go further than anything else to destroy professionalism and credibility. Why? Because a juicy personal story lasts a lot longer than even the biggest win on the toughest client. It’s All About RelationshipsThe relationships you create at work are naturally based on some sort of hierarchy. I don’t care how flat your organization is, whether it’s a role or a project or a key task – someone is in charge. When you share too many personal stories at work, you nurture different kinds of relationships, ones that don’t have clear lines of authority attached. Can you really expect the co-worker who listens to you vent about your awful ex at lunch to be as respectful when it’s time to meet a crucial deadline? Your deadline? Be personable without making everything about a close personal relationship. Can You Trust a Drama Queen?We all have personal issues that can occasionally preoccupy our every waking moment - if we let them. When you share your awful stories, you’re sending a couple of different messages. First off, you’re basically saying that whatever is going on with you is more important than your job. Why else would you be taking the time to tell everyone about it? If your cat’s chronic diarrhea is imposing on work time, you’ve paved the way for someone else to feel free chatting up the cube farm about her next big break up. Secondly, sharing details that are overly personal about yourself or someone else tells others that you lack discretion. They start to wonder what kind of information you can be trusted with. Even if the situation is completely out of your control, talking about it is your choice. If you do you may be perceived as lacking good judgment. Forge Business-Based ConnectionsIt’s not just talking about illness and romantic troubles that can ruin your credibility. When you focus on creating connection through shared personal values or interests, you miss opportunities to pursue relationships that serve purely business reasons. Focus on your business success and learn how to tell those stories. Image Credit: orinzebest, Flickr
Source: Business Pundit | 5 Oct 2009 | 1:16 pm Could we have handled the truth?A watchdog report on TARP says top officials weren't leveling with the public about the health of big banks when they pitched their bailout plan last year. But what would have been the alternative? Steve Henn reports.Source: Marketplace | 5 Oct 2009 | 1:12 pm FTC sets rules on blogger disclosureThe Federal Trade Commission issued new guidelines today requiring bloggers to disclose when they're being paid by a company they're covering. How will the FTC effectively enforce these rules? Alisa Roth reports.Source: Marketplace | 5 Oct 2009 | 1:09 pm Think Tank Accuses IMF Of Grade Inflation
But the potential future global lender of last resort is not going to take smack talk like that lying down. Whether you throw insults or shoes their way, the IMF stands tall.
Sponsored Topics: International Monetary Fund - Economic - Economic growth - Recession - Grade inflation Source: Dealbreaker | 5 Oct 2009 | 1:08 pm A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Monday:Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 1:00 pm A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Monday:Source: Yahoo! News: Business | 5 Oct 2009 | 1:00 pm Michelin NYC scopes eats under $25Michelin is releasing its guide for the best 662 restaurants in New York with some new additions -- including where to get a good meal for under $25. Bob Moon explores the move with Michelin Guide Director Jean Luc Naret.Source: Marketplace | 5 Oct 2009 | 12:58 pm Berlusconi defiant over bribery claimsSilvio Berlusconi was jointly responsible for corruption by his Fininvest company in a 1990s battle to buy publisher Mondadori, a judge said in arguments for imposing damages on the companySource: Financial Times - US homepage | 5 Oct 2009 | 12:51 pm Listener: Want Good Care? Try Taiwan.Ryan Bird writes that he's Canadian, so he's used to the ideal and the reality of government--provided universal health care. Now Bird lives in Taiwan, where he loves the system: There are no waiting lines, as one can visit a specialist without a recommendation. There is one billing department, so bureaucracy is minimal. Everything is on smart cards, so the doctor knows what's up with you and the government keeps an eye out for abuse (privacy concerns, but Taiwanese give away information about themselves all the time, and they prefer the benefits). And the fact no one will ever go broke for health care, as a visit to any doctor never costs more than $6US. Stop at the dentist to get your wisdom teeth removed? $3US. Popping into a dermatologist to get a growth removed? $3US. Need a hearing test to make sure that your ears are OK after the fireworks festival? $3US. (I include these examples because they are actual costs that I've had or a friend has had.) Bonus: Taiwan Takes The Fast Track to Universal Health Care » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 5 Oct 2009 | 12:50 pm Bloomberg's Miller Discusses U.S. Jobs Report, Economy:VideoSource: Bloomberg - All Podcasts | 5 Oct 2009 | 12:33 pm Bloomberg's Nasseri, Lakshmanan Discuss Iran: VideoSource: Bloomberg - All Podcasts | 5 Oct 2009 | 12:32 pm 'Python' sketches absurd, but relevantToday is the 40-year anniversary of the first Monty Python broadcast on British TV. But American fans may not fully appreciate how many of the most famous Python sketches reflect the economic reality of its day. Stephen Beard explores the connection.Source: Marketplace | 5 Oct 2009 | 12:31 pm Kingfisher Raised to `Neutral’ at Goldman Sachs: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 12:24 pm Mark Madoff Dealing With The Pain The Only Way He Knows How
Sponsored Topics: Montauk - Bernard Madoff - Charles Ponzi - Mark - Long Island Source: Dealbreaker | 5 Oct 2009 | 12:23 pm Conde Nast slims down, cuts GourmetConde Nast will be shutting down Gourmet Magazine, one of its longest-running titles, while keeping its Bon Appetit title alive. Longtime Gourmet fans and foodies are distressed by the loss. Ashley Milne-Tyte reports.Source: Marketplace | 5 Oct 2009 | 12:11 pm North Korea, China talk tradeChinese Prime Minister Wen Jiabao met with North Korean officials today to sign trade deals between the two countries. Bob Moon talks to Scott Tong, who headed to the border town of Dandong to find out what the two countries were trading.Source: Marketplace | 5 Oct 2009 | 12:01 pm No home should be without a T-RexEver wanted to own the skeleton of a woolly mammoth? Buyers at a natural history auction in Las Vegas scored one for the price of a BMW. Other attendees were out for pricier game. Stacey Vanek-Smith dropped in and took some pictures.Source: Marketplace | 5 Oct 2009 | 11:55 am Crockett Discusses How Technology Benefits Movies: AudioSource: Bloomberg - All Podcasts | 5 Oct 2009 | 11:17 am Coins For Hard Times: Artist Makes His Own Money
"Pomme de Terre, Pomme en l'Air." (Coins by Matthew Hincman)
I ran into artist Matthew Hincman last week, who has decided that things have gotten bad enough that it's time to create your own money. Hincman designed the coin above and had 1,200 minted in copper, which he plans to leave on the ground at random locations for people to pick up and puzzle over. He says he modeled the coins after the Hard Times Tokens that circulated in the 1800's, many of them satirical. Hincman has no plans to control the money supply at large. In fact, he's trying to stay out of trouble. For one recent project, he installed an unusual version of the standard park bench -- it was impounded by the authorities, though they liked it so much, it's now back in place. Hincman figures there's no law against leaving coins around. He says sometimes drops to one knee and pretends to be tying his shoe, then casually deposits one on the sidewalk. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Oct 2009 | 11:11 am Fund Managers Bracing for a Sell-Off (BusinessWeek)BusinessWeek - Investors have a right to feel sunny. The recession has most likely ended, analysts are raising predictions for third-quarter earnings, and the Standard & Poor's 500-stock index is up 56.8% since its March low. So why are some prominent fund managers feeling gloomy?Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 11:03 am FTSE bounces back from losses (AFP)
Source: Yahoo! News: Stock Markets News | 5 Oct 2009 | 10:42 am ISM: Service sector grows in SeptemberNEW YORK -- The U.S. service sector grew in September for the first time in 13 months, an encouraging sign for the fledgling economic recovery, although jobs remain scarce.
Source: L.A. Times - Business | 5 Oct 2009 | 10:31 am IBM to buy Wilshire Credit's operating assets (AP)AP - IBM Corp. says that its mortgage servicing subsidiary signed an agreement with Bank of America Corp. to buy the main operating assets of Wilshire Credit Corp.Source: Yahoo! News: Business | 5 Oct 2009 | 10:12 am Dairy leads surge in commodity pricesLed by dairy products, world prices for a basket of New Zealand's export commodities soared 6.8 per cent last month, its steepest rise in 22 years, but the higher Kiwi dollar swallowed two-thirds of the increase.The latest jump...Source: nzherald.co.nz - Business | 5 Oct 2009 | 10:00 am Kiwi dollar following global cuesUS corporate earnings and domestic business confidence data will be the major factors determining the direction of the New Zealand dollar this week, but the market will also be eyeing today's Reserve Bank of Australia rate decision...Source: nzherald.co.nz - Business | 5 Oct 2009 | 10:00 am Receivers come to grips with Crafar problemsReceivers Michael Stiassny and Brendon Gibson were getting mud on their gumboots yesterday as they came to grips with problems of Crafar Farms, the nation's biggest group of family-owned dairy farms.Westpac Bank called in the...Source: nzherald.co.nz - Business | 5 Oct 2009 | 10:00 am How to Use Twitter for Your BusinessUsing Twitter for business is easy. As long as you follow the guidelines below, you’ll have a legitimate business Twitter account. The hard part is gaining a big following. Patience, persistence, and consistent tweets will help you gain a following over time. If you have a business, and are thinking about tweeting, try the steps below. 1) Open an account.
Simply open an account under your business’s real name. Upload your logo to use as an icon. If your personal identity is tied into your business, use your real, full name and a headshot. Start tweeting. 2) Find people to follow.
Once you’ve tweeted a few times, start finding people to follow. Follow people in your industry, competitors, friends, colleagues, and people you admire (for business purposes). You can use one of many Twitter apps to find people by topic. Twellow—the Yellow Pages for Twitter—is an example. With time, people will start following you, too. Note: Some followers are spammers. Whenever someone unfamiliar signs up to follow you, flag them for further investigation. Are they using a real name? What do their tweets look like? Avoid them if they only tweet spam. 3) Tweet away.
As a business, your tweets will look slightly different from the life updates that most individuals share. Although life updates keep your tweets interesting, keep them business-related. For example, thank individuals for their help. Recommend people. Ask questions. In addition, follow the tweet subjects below to maximize Twitter’s business utility: –Link to news about your industry, sports, etc. –Link to new deals and promos. Be sure to include the occasional Twitter-only promo. An easy way to do this is to offer free drinks to Twitter followers. Name the drink something unique that only your Twitter followers will be able to read. Then, when they come in, they can request the special drink by name—and get it free. You can also tweet contests—guess the winning team and get a free beer—or special codes that people can show on their cell phones. –Ask your followers for feedback on their experience with your product, new ideas you have for events/ promos, etc. –Job postings. Post short descriptions and a link to where followers can learn more. –Live event feeds. For example, if you host a contest at the bar/restaurant, have someone tweet it live. –Customer service. Encourage customers to tweet with questions, feedback, etc. –PR firefighting. If something happens that could damage your reputation, post your defense on Twitter. Big companies do this all the time when faced with something potentially damaging. –Reply to people’s tweets. Get in touch with them personally. 4) Monitor your reputation.
Periodically search for who’s talking about you using #hashtag searches. For example, search #yourbusinessname to see who is talking about you. Use other hashtag searches to follow industry news. 5) Promote yourself.
Make sure people know you’re on Twitter. Promote your Twitter profile on your website, email (footer), in your store, on your business cards, ads, and other social networking sites. Make your Twitter profile visible and clickable. The easier you are to find on Twitter, the more people will find you.
Source: Business Pundit | 5 Oct 2009 | 9:50 am After McKinsey Study, Conde Nast Folds Gourmet Magazine
Conde Nast will announce the closure of Gourmet magazine–and several other titles–this morning. The New York Times has more: The magazine has sustained a severe decline in ad pages, but the cut still comes as a shock. In addition to Gourmet, Condé Nast plans to announce it will also close Cookie, Modern Bride and Elegant Bride. Cookie is a relatively new introduction, started in 2005, while the bridal magazines were seen as offshoots of the bigger Brides magazine, which Condé Nast also owns. The cuts come at the conclusion of a three-month study by McKinsey & Company, which conducted analysis of Condé Nast’s costs, and told several magazines to cut about 25 percent from their budgets. These are the first closings announced by the company since the McKinsey study. Condé Nast tends to hold tight to its prestigious titles, making the Gourmet closing all the more startling. In an interview in February, even Paul Jowdy, publisher of the in-house rival Bon Appétit, said that such a closing was unlikely. (To be fair to Mr. Jowdy, the economy has plummeted, and Condé Nast has been hit particularly hard since then. Its magazines have lost more than 8,000 ad pages, excluding its bridal titles, so far this year.) Why fold the more prestigious title? I hope Conde Nast maintains Gourmet online, the way they did Portfolio.
Source: Business Pundit | 5 Oct 2009 | 9:23 am Apple Lawyers Threaten Woolworths About Logo
Australian supermarket chain Woolworths has gone too far with its logo, according to Apple’s intellectual property lawyers. Concerned that “‘consumers may not be able to differentiate between the two brands,” Apple lawyers have told Australia’s intellectual property regulators to ban the logo. Mashable has more: When it comes to defending their trademarks and logos, no company is more fervent than Apple. If they could challenge Victoria School of Business and Technology for having a logo too similar to theirs, then you can certainly expect them to sue Woolworths, especially if Woolworths’ trademark application is a blanket one, extending to electrical goods and technology. Woolworths nowadays sells a wide variety of goods. A Woolworths spokesman said: ”While we can’t rule anything out, we haven’t got any plans (when it comes to computers and gadgetry) at the moment.” But is their logo an apple, or does it even look like one? The Australian-based Woolworths claims that their logo is simply a stylized “W” paired with an “abstract leaf symbol”. One could, however, also say that it’s a stylized person with outstretched arms, or an “apple being peeled”. Woolworths has tried to avoid using the word “apple”, and the designer of the logo, Hans Hulsbosch, claims Apple is taking things too far. ”Based on this logic, they would have to take action against every fruit-seller,” he said. However, one has to admit that the two logos have similarities, and that there’s actually a good chance (unlike the Victoria School of Business and Technology’s case) of Woolworths selling devices similar to those sold by Apple. If Woolworths logo really looks like an apple, does that mean Apple owns the rights to all apple symbols? Apple’s legal chest-thumping seems like a stretch.
Source: Business Pundit | 5 Oct 2009 | 8:52 am Bonds Are Back, And Roubini Says DuckBy Laura Conaway Good morning, and let's get reading. Three you need from the New York Times: First, the case of the Simmons Bedding folks, whose company got sold over and over and made lots of people money and is heading for bankruptcy anyway. Second, if Congress can't agree on regulatory reform, maybe the Supreme Court can. Third, last week bonds were so very last week, and now bonds are hot again. It's a headline that writes itself. "Roubini: Investors Too Optimistic." Two on the FDIC: The failed banks list, and what's up with that dwindling insurance fund? And FDIC chairwoman Sheila Bair says creditors should pay more when banks go belly up. Someone has to, right? Oh, and a big thanks to the Planet Money crowd. The site won a big award over the weekend, making all our mamas so proud. We couldn't have done it without you. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 5 Oct 2009 | 8:34 am Captcha FAIL
Source: Business Pundit | 5 Oct 2009 | 5:23 am
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