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AB Inbev sells Eastern European assets to CVCAnheuser-Busch InBev, the world's biggest brewer, made further inroads into its debt mountain today with the sale of its Central European operations to CVC Capital Partners, the private equity firm, for up to $3.03 billion ($£1.88 billion). Source: Latest Business News from Times Online | 15 Oct 2009 | 4:52 am Bear Stearns charges 'ridiculous'The lawyer for one of the former Bear Stearns fund managers on trial in New York ridicules an insider trading charge.Source: BBC News | Business | World Edition | 15 Oct 2009 | 4:23 am GM, Magna set to sign Opel deal, job talks continue (Reuters)Reuters - U.S. carmaker General Motors was close to signing a deal to sell a 55 percent stake in its European arm Opel to Canada's Magna Thursday as talks continued with unions over job cuts.Source: Yahoo! News: Business | 15 Oct 2009 | 4:17 am OFT to scrutinise online pricingThe sale over the internet of products such as air tickets is to be investigated to stamp out any misleading practices.Source: BBC News | Business | World Edition | 15 Oct 2009 | 4:16 am U.S. foreclosure filings up in 3rd quarterU.S. properties subject to foreclosure filings hit nearly 938,000 in the third quarter, up 23% from the year-earlier quarter and 5% from the second quarter.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 4:16 am Fresh private bank M&A adds to sector shakeupAMSTERDAM (Reuters) - Consolidation in the private banking industry picked up pace on Thursday, creating fresh players in the Asian and British wealth management sectors and reshaping how the rich manage their money around the world.Source: Reuters: Business News | 15 Oct 2009 | 4:12 am Health care: What I want fixedWhat does health insurance cost? What is normal? Nine people talk about what they pay, what they get for their money -- and what reform means to them.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 4:12 am No Social Security Cost-Of-Living Increase For 2010People collecting Social Security has been getting cost-of-living increases since the program to up payments went into effect in 1975. The inflation calculation used to set the increases was negative this year. The Administration hopes to offset the lack of an increase. The White House website released at statement saying, “The Recovery Act provides a one-time [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Oct 2009 | 4:11 am Be wary of the rallyAs the Dow crossed the 10,000 mark for the first time in more than a year Wednesday, economists cautioned that the blue-chip average shouldn't be seen as giving a green light to the economy.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 4:08 am Making electric cars smarterIf anyone sits at the intersection of Silicon Valley and Detroit, it is Shai Agassi, a software engineer turned supplier to the car industry.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 4:07 am Stock index futures edge higher; results eyed(Reuters) - U.S. stock index futures pointed to a slight increase in equities on Thursday after the Dow Jones Industrial average index pierced the 10,000 level in the previous session.Source: Reuters: Business News | 15 Oct 2009 | 4:03 am Currencies: Dollar slips further after Dow re-takes 10KRising equities keep the U.S. dollar under pressure Thursday, a day after Wall Street's Dow Jones Industrial Average pushed back above the 10,000 level for the first time in a year.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 4:01 am Earnings Outlook: Amazon may benefit from media sales recoverySAN FRANCISCO (MarketWatch) -- Amazon.com Inc. is expected to keep up its strong growth rate for the third quarter, with analysts looking for a marked improvement in the online retailer's flagship media business.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 4:00 am Earnings Outlook: Yahoo seen posting profit, sales declinesYahoo Inc. is expected to report declines in profit and sales when it posts third-quarter results, as the depressed online advertising market continued to eat into the company’s balance sheet.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 4:00 am Hong Kong, Sydney rise above 1-year highs in AsiaAsian share markets finish mostly higher Thursday with indexes in Hong Kong and Australia closing at their highest levels in more than a year.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 3:57 am European stocks lower after day-earlier gains (AP)
Source: Yahoo! News: Stock Markets News | 15 Oct 2009 | 3:54 am European stocks lower after day-earlier gainsEuropean stock markets eased lower Thursday, a day after forecast-busting earnings from JP Morgan Chase & Co. pushed many of the world's major indexes up to year highs. The FTSE 100...Source: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:53 am Apple (AAPL) iPhone May Get FM TunerThe devilishly clever engineers at Apple (NASDAQ:AAPL) have apparently discovered another way to sell songs though the iTunes store. Apple appears to be developing an FM tuner that will run on the iPhone and some iPod models. According to the site “9 to 5 Mac”, the new feature will allow Apple customers to click on a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Oct 2009 | 3:52 am Signs of Eurostar sales recoveryEurostar reports a rise in sales between July and September, and sees signs of an upturn in business travel.Source: BBC News | Business | World Edition | 15 Oct 2009 | 3:50 am Stock index futures edge higher; results eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 15 Oct 2009 | 3:50 am Stock index futures edge higher; results eyed (Reuters)
Source: Yahoo! News: Business | 15 Oct 2009 | 3:50 am UPDATE 2-Large Tandberg shareholder group snubs Cisco bid* Says would assess higher offer from Cisco or 3rd partySource: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:47 am Flu Drug Sales Take OffRoche earnings offered hope to the scores of biotech companies working on H1N1 treatments. The big pharma firm, which makes most of its money from cancer treatments, profited from the spread of the flu. Roche raised its 2009 sales guidance for the second time this year, after reporting a better-than-expected 9.7% rise in third-quarter sales, mainly driven [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Oct 2009 | 3:39 am UPDATE 2-WH Smith to return cash, and looks to India* Year pretax profit 82 mln stg, vs forecast 81.4 mln stgSource: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:38 am London shares drift back from year highsThe demise of a large potential deal in the mining sector helped take momentum from London's equity market on Thursday. The FTSE 100 fell 10 points to 5,246.57 as investors booked some of the gains made...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 3:37 am RHJ to buy Kleinwort Benson for 225mKleinwort Benson, one of the oldest names in British banking, is to be sold by Commerzbank to RHJ International, a Brussels-listed financial investor, for 225m in cash. The deal caps a long search by RHJ...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 3:31 am Indonesia state gas firm seeks LNG for new terminalJAKARTA, Oct 15 (Reuters) - Indonesian gas distribution firm PT Perusahaan Gas Negara (PGN) is seeking liquefied natural gas (LNG) for its planned receiving terminal in North Sumatra, a company official...Source: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:29 am Spanish house prices tumble 7.8% in third quarterHouse prices in Spain likely have a long way to fall.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 3:28 am EU and South Korea in trade dealThe European Union and South Korea sign a trade deal that could be worth billions of euros to European exporters.Source: BBC News | Business | World Edition | 15 Oct 2009 | 3:27 am Pausing after Dow 10,000U.S. stocks were poised for a flat open Thursday, as investors paused for breath after pushing the Dow above the 10,000 mark and turned their focus to bank earnings.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 3:24 am Indications: U.S. futures steady before earnings, data crushU.S. stock futures held steady Thursday ahead of a gamut of earnings from giants like Citigroup, Nokia and Goldman Sachs and a host of economic releases including inflation and two key regional indexes.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 3:23 am Deals of the day -- mergers and acquisitionsOct 15 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Thursday. (For Reuters columns on deals, click [DEALTALK...Source: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:21 am Macs grab record U.S. market shareSource: Business and financial news - CNNMoney.com | 15 Oct 2009 | 3:19 am Xstrata drops plans for Anglo American mergerMiner Xstrata on Thursday walked away from a potential bid for Anglo American, but left the door open for another approach by saying it still believes a deal would make strategic sense.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 3:17 am UPDATE 1-Oxford Bio says ProSavin promising; shares double* Experimental Parkinson's drug shows second dose promiseSource: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:16 am GM says ready to join GM Daewoo rights offerINCHEON, South Korea (Reuters) - The chief executive of General Motors Co reiterated on Thursday that the U.S. automaker would join a rights offering by its struggling South Korean unit, but gave no hint whether GM would put in as much as the unit's biggest creditor wants.Source: Reuters: Business News | 15 Oct 2009 | 3:15 am Dow Jones over 10000: which US funds are worth a look?The Dow Jones Industrial Average has burst through the 10000 barrier for the first time in a year as investors push aside concerns on its economy.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 3:14 am London calm after Wall Street surgeThe exuberance that greeted Wall Street's rise above 10,000 points last night was not replicated in London this morning as the FTSE struggled to stay in positive territory in early trading. Source: Latest Business News from Times Online | 15 Oct 2009 | 3:13 am Foreclosures Hit Quarterly Record Giving Housing Market No HopeThere may be some signs of a sharply improving economy. The FOMC notes released yesterday show that the Fed believes that GDP will start to pick up quickly next year. The housing market is not part of the recovery. It may be a lagging indicator like unemployment. If so, the lag is significant. According to new data from [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Oct 2009 | 3:11 am RPT-UPDATE 1-Fox-Pitt to close in Asia after Macquarie deal* Fox-Pitt to close in Asia rather than fold into MacquarieSource: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:04 am New York Times scraps plan to sell Boston GlobeNEW YORK (Reuters) - The New York Times Co said it has given up its plan to sell The Boston Globe and related businesses after drastic cuts it imposed on the daily newspaper earlier this year improved its financial position.Source: Reuters: Business News | 15 Oct 2009 | 3:03 am Commerzbank off-loads Kleinwort for £225mGermany’s Commerzbank has agreed to sell Kleinwort Benson, the British private banking group, to RHJ International, the Belgian investment business, in a deal worth £225 million in cash, the companies said today. Source: Latest Business News from Times Online | 15 Oct 2009 | 3:01 am World markets cheer upbeat earnings newsAsian stocks pushed higher on Thursday, a day after US stocks soared to the highest level since October 2008, when global markets were in freefall following the collapse of Lehman Brothers.Source: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:00 am Baker Hughes and BJ Services Receive Second Request Under US Antitrust ReviewHOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI) and BJ Services Company (NYSE: BJS; CBOE; PCX) announced today the receipt of a request from the...Source: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 3:00 am World markets cheer upbeat earnings news (AFP)
Source: Yahoo! News: Stock Markets News | 15 Oct 2009 | 2:59 am Oil jumps to fresh 1-year high above $75 a barrelOil prices reached a fresh one-year high above $75 a barrel Thursday in Asia on a weaker U.S. dollar and growing investor optimism about an economic recovery. Benchmark crude for...Source: RSS feed - channel BNewsBusiness | 15 Oct 2009 | 2:58 am London Markets: FTSE 100 trails in Europe as miners weighBritish shares underperform other major regional European equity markets and retreated from annual highs on Thursday, as commodity-price-sensitive stocks lost ground.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 2:57 am Pakistan hit by fresh wave of violenceA series of co-ordinated attacks on Pakistan’s second largest city has heightened fears that the militants are expanding their campaign of violence to the Punjab, the country’s heartlandSource: Financial Times - US homepage | 15 Oct 2009 | 2:55 am OFT online pricing investigation to cover price comparison websitesThe Office of Fair Trading has launched an investigation into potentially misleading online pricing and advertising that will take in price comparison websites.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 2:52 am Xstrata walks away from Anglo bidXstrata has dropped its proposed merger with rival miner Anglo American, five days before the deadline that UK takeover authorities had set for it to make a formal offer.The move means the Swiss-based...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 2:32 am Xstrata walks away from Anglo bidXstrata said it has no intention of making an offer for rival Anglo American just days before a deadline forcing the Swiss group to make an offer or walk away was due to expireSource: Financial Times - US homepage | 15 Oct 2009 | 2:32 am BlackBerry Storm2 on the waySource: Business and financial news - CNNMoney.com | 15 Oct 2009 | 2:29 am Lloyds in talks to sell HBOS private client assetsLloyds Banking Group is in talks to sell some of its Scottish private client fund management activities to Rathbone Brothers, one of the UK’s leading specialist investment management firms. Source: Latest Business News from Times Online | 15 Oct 2009 | 2:26 am Flu drug Tamiflu boosts Roche sales in Q3ZURICH (Reuters) - Roche beat forecasts with a 10 percent rise in third-quarter sales, helped by demand for Tamiflu due to the H1N1 swine flu pandemic, and the Swiss group now sees higher drug revenues for the full year.Source: Reuters: Business News | 15 Oct 2009 | 2:18 am Media Digest (10/15/2009) Reuters, WSJ, NYTimes, FT, BloombergReuters: Goldman Sachs (NYSE:GS) is having trouble justifying its huge bonuses. Reuters: Bruce Wasserstein, M&A giant and head of Lazard (NYSE:LAZ), died. Reuters: Congress will probe compensation at AIG (NYSE:AIG). Reuters: US foreclosures fell for a second month but stayed high. Reuters: The Fed discussed rasing its asset purchases at the last FOMC. Reuters: Roche’s results were helped by Tamiflu [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Oct 2009 | 2:04 am $8,000 homebuyer tax credit ... for allCongress is considering proposals to greatly expand a soon-to-expire $8,000 tax credit for first-time homebuyers -- potentially applying it to all but the wealthiest homebuyers.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 2:04 am Tandberg holders reject $3 billion Cisco bidHolders of nearly a quarter of Norwegian videoconferencing firm Tandberg have spurned a $3 billion bid from U.S. networking giant Cisco.
Source: MarketWatch.com - Top Stories | 15 Oct 2009 | 2:01 am Selling your gold? Don't get takenWith the price of gold as high as it's ever been, more people are rummaging through their dresser drawers, safe-deposit boxes and anywhere else they can to trade their forgotten bling for a thick wad of cash.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 2:00 am OFT to probe 'misleading' high street pricingThe Office of Fair Trading (OFT) is to investigate pricing practices employed by companies, both online and in the high street, and how they “could potentially mislead consumers”. Source: Latest Business News from Times Online | 15 Oct 2009 | 1:53 am AB InBev sells eastern Europe ops to CVC for $2.2 billionBRUSSELS (Reuters) - Anheuser-Busch InBev, has agreed to sell breweries in nine eastern European countries to CVC Capital Partners for an initial $2.23 billion, passing its target for divestments since its merger a year ago.Source: Reuters: Business News | 15 Oct 2009 | 1:49 am Foreclosures: 'Worst 3 months of all time'Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter.Source: Business and financial news - CNNMoney.com | 15 Oct 2009 | 1:41 am AB InBev sells central Europe assets to CVCAnheuser-Busch InBev has agreed to sell its central European operations to CVC Capital Partners, the private equity group, for up to $3bn.The deal is the latest non-core asset to be sold following last...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:33 am AB InBev sells central Europe assets to CVCThe world’s largest brewer will be paid up to $3bn by the private equity group as it seeks to focus on core brands such as Stella Artois and make divestments to pay down debtSource: Financial Times - US homepage | 15 Oct 2009 | 1:33 am Xstrata walks away from Anglo American bidXstrata today walked away from making a £56 billion bid for Anglo American but continued to talk up the benefits of merging the two companies. Source: Latest Business News from Times Online | 15 Oct 2009 | 1:26 am Xstrata walks away from Anglo American bidXstrata today walked away from making a £56 billion bid for Anglo American but continued to talk up the benefits of merging the two companies. Source: Latest Business News from Times Online | 15 Oct 2009 | 1:26 am Asia Market And Europe Open (10/15/2009)Markets in Asia were higher. The Nikkei rose 2.1% to 10,273. Sony (NYSE:SNE), Toyota (NYSE:TM), and Honda (NYSE:HMC) were all higher. The Hang Seng rose 1.1% to 22,125. HSBC (NYSE:HBC) was up. The Shanghai Composite moved up .3% to 2,980. At the open in Europe, the FTSE was up .1% to 5,260. The Dax was higher by .2% to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Oct 2009 | 1:23 am Lloyds rights issue faces hurdleThe government will not underwrite Lloyds Banking Group's planned rights issue, potentially compounding the challenge for the partly state-owned bank to raise enough capital to wriggle free of the toxic...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:23 am Xstrata ditches £30bn offer for rival Anglo AmericanMining giant Xstrata has abandoned the £30.4bn approach rejected by Anglo's board.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 1:22 am Commerzbank sells off KleinwortGermany's Commerzbank sells its UK wealth management arm Kleinwort Benson, less than one year after buying the division.Source: BBC News | Business | World Edition | 15 Oct 2009 | 1:16 am WH Smith increases dividend and returns cash to investors as profits riseThe newspaper and book retailer reports 8pc increase in annual profits in tough trading conditions.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 1:14 am Aussie market records one-year highSYDNEY- The Australian sharemarket rallied to close at a one-year high on Thursday, as strong earnings from US investment bank JP Morgan encouraged investors that company profits are likely to improve.But the market fell back...Source: nzherald.co.nz - Business | 15 Oct 2009 | 1:05 am NZ market gives back early gainsThe New Zealand sharemarket managed to finish ahead but off its best levels today.Other markets in Asia did better in the wake of the Dow's breach of the 10,000 level for the first time on the back of a strong result from JPMorgan...Source: nzherald.co.nz - Business | 15 Oct 2009 | 1:02 am Sumner Redstone to sell more CBS and Viacom sharesThe mogul will capitalize on the companies' dramatic stock gains to raise nearly $1 billion, which his National Amusements theater chain will then use to help retire $1.46 billion in debt. ...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:00 am Beverly Hills investment advisor pleads guilty in Ponzi scamMichael McCready admits to swindling at least 25 clients out of $9 million. Many of the victims work in the entertainment business and considered themselves friends of McCready. ...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:00 am Mattel agrees to settle almost all U.S. claims over 2007 toy recallsMattel Inc. says it has reached an agreement to settle "virtually all" U.S. claims related to its 2007 toy recalls.Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:00 am Is fine in healthcare bill big enough to ensure coverage?Healthcare reformers tell a wry joke about one of their number who, called to heaven, is given the opportunity to pose a single question to God.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Sumner Redstone to sell more CBS and Viacom sharesThe mogul will capitalize on the companies' dramatic stock gains to raise nearly $1 billion, which his National Amusements theater chain will then use to help retire $1.46 billion in debt.A year after it looked like Sumner Redstone's media empire might collapse under a mountain of debt, the 86-year-old mogul found a way to keep his grip on Viacom Inc., CBS Corp. and other prized assets.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am CalPERS targets a former L.A. deputy mayor in probe of investment agent feesThe state pension fund, as part of a larger investigation of the awarding of investment contracts, is looking at $50 million in fees paid to Arvco, headed by Alfred Villalobos. He denies wrongdoing.A former Los Angeles deputy mayor is at the center of an investigation by the California Public Employees' Retirement System into fees paid to agents who help private firms land large contracts to invest the $200-billion pension fund's money.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Blue Shield is ousted from California's high-risk health insurance poolIts premiums were substantially higher than those of the other two insurers in the Major Risk Medical Insurance Program, state officials say. Blue Shield coverage will remain in effect until Jan. 1.California has ousted Blue Shield, the state's second-largest not-for-profit health plan, from the state's high-risk medical insurance pool because its premiums were too high.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Highridge Partners buys Santa Ana office building from Tishman SpeyerThe company pays $31 million for the 11-story building at 3 MacArthur Place as it aims to buy $500 million worth of commercial properties in California. The property last sold for $83 million in 2007.Los Angeles real estate investor Highridge Partners bought a Santa Ana office building Wednesday as it launched a program to purchase $500 million worth of commercial properties in California.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Mattel agrees to settle almost all U.S. claims over 2007 toy recallsMattel Inc. says it has reached an agreement to settle "virtually all" U.S. claims related to its 2007 toy recalls.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Vivendi is mum on its NBC Universal plansVivendi is being un peu mysterieuse .
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Highridge Partners buys Santa Ana office building from Tishman SpeyerThe company pays $31 million for the 11-story building at 3 MacArthur Place as it aims to buy $500 million worth of commercial properties in California. The property last sold for $83 million in 2007...Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:00 am Dow average closes above 10,000 for first time in more than a yearEarnings from JPMorgan, Intel beat expectations and push up the blue-chip index. Broader indexes also climb to 2009 highs.The Dow Jones industrial average barreled past the 10,000-point milestone for the first time in a year Wednesday, a testament to Wall Street's powerful rebound from the financial crisis -- but also to a lost decade that has left many people worse off than they were 10 years ago.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Activists press owner of IHOP and Applebee's to buy eggs from more-humane producersThe Humane Society of the United States' pursuit of DineEquity is part of its effort to steer restaurants away from serving eggs produced in 'battery cages,' pens that give chickens limited space.Animal rights activists are going after DineEquity Inc., the Glendale parent of the IHOP and Applebee's restaurant chains. They want the restaurant company to start buying eggs from suppliers that they believe treat chickens in a more humane fashion.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am Is fine in healthcare bill big enough to ensure coverage?Healthcare reformers tell a wry joke about one of their number who, called to heaven, is given the opportunity to pose a single question to God.Source: RSS feed - channel BNPaperBusiness | 15 Oct 2009 | 1:00 am Dreamliner is causing nightmares for BoeingThe innovative plane is two years behind schedule and billions over budget.When Boeing Co. unveiled plans to build the 787 Dreamliner, the aircraft was touted as revolutionary, a major technological shift in the way a plane is made and in the way it operates.
Source: L.A. Times - Business | 15 Oct 2009 | 1:00 am AB InBev sells eastern Europe ops to CVC for $2.2 billion (Reuters)Reuters - Anheuser-Busch InBev, has agreed to sell breweries in nine eastern European countries to CVC Capital Partners for an initial $2.23 billion, passing its target for divestments since its merger a year ago.Source: Yahoo! News: Business | 15 Oct 2009 | 12:59 am WH Smith profits up but sales dipNewsagent chain WH Smith announces a rise in full-year profits to £81m, despite a fall in sales.Source: BBC News | Business | World Edition | 15 Oct 2009 | 12:49 am Xstrata walks away from Anglo bidSwiss-based miner Xstrata announces that it has "no intention" of making an offer for rival Anglo-American.Source: BBC News | Business | World Edition | 15 Oct 2009 | 12:42 am U.S. foreclosures fall 2nd straight monthNEW YORK (Reuters) - U.S. mortgage foreclosure filings fell for a second straight month in September, but remained near a record high, amid ongoing and sweeping efforts to keep borrowers in their homes, a report released on Thursday showed.Source: Reuters: Business News | 15 Oct 2009 | 12:38 am Asian markets lifted as Dow passes 10000Asian stocks extended their advance Thursday after betterthanexpected earnings reports from US companies helped push the Dow Jones industrial average pass the 10000 mark for the first time in a yearSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 12:21 am India ready to bail out Air IndiaIndia has agreed to back Air India with up to 50bn rupees £690m if the ailing staterun carrier finds the same amount in costs cuts and extra revenue the aviation minister said.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 12:12 am UK government won't underwrite Lloyds rights reportThe British government will not underwrite a planned rights issue by Lloyds Banking Group the Financial Times said on Thursday.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 Oct 2009 | 12:02 am Financier who lost millions of investors' money feared missingCity trader had assets frozen over fears he has lost investors millions.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 14 Oct 2009 | 11:59 pm NZ dollar highest since July 2008The New Zealand dollar rose to its highest level since July 2008 after higher-than-expected inflation data caused investors to bring forward expectations for New Zealand's first official interest rate hike.By 5pm the NZ dollar...Source: nzherald.co.nz - Business | 14 Oct 2009 | 11:56 pm U.S. foreclosures fall 2nd straight month (Reuters)
Source: Yahoo! News: Business | 14 Oct 2009 | 11:31 pm AIG unit ILFC to repay $2 billion loan Thursday: report(Reuters) - American International Group Inc's jet-leasing unit International Lease Finance Corp (ILFC) is going to pay back $2 billion in short-term debt which is due Thursday, the Wall Street Journal said, citing company officials.Source: Reuters: Business News | 14 Oct 2009 | 11:29 pm Goldman Sachs poised to inflame row on bankers' pay with strong third quarter resultsWall Street bank may deliver recordbreaking bonuses thanks to strong profits.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 14 Oct 2009 | 11:05 pm Manufacturing expands for first time in 16 monthsManufacturing has expanded in New Zealand for the first time since April last year, according to the latest BNZ Capital - Business NZ Performance of Manufacturing Index (PMI).The seasonally adjusted PMI for September stood at...Source: nzherald.co.nz - Business | 14 Oct 2009 | 10:30 pm Hong Kong flat sets new record priceA Hong Kong property developer has sold a luxury flat for a world record price, less than three months after the territory technically emerged from recessionSource: Financial Times - US homepage | 14 Oct 2009 | 10:28 pm Inflation surprises with 1.3pc rise, dollar jumpsNew Zealand's inflation rate rose an unexpectedly strong 1.3 per cent in the September quarter, taking the annual rate to 1.7 per cent.Publishing the data today, Statistics New Zealand (SNZ) said the annual rise was the lowest...Source: nzherald.co.nz - Business | 14 Oct 2009 | 10:00 pm Great Mutual Funds on the CheapFaster than nearly anyone thought possible just a few months ago, Americans have jumped back into the market in a bid to rebound from the drubbing they took last year. And while good stock picking and smart bond selection are always important, savvy investors say one basic investment tenet is more vital than ever: Keep costs low. When the stock market was logging double-digit gains year after year, most investors didn't think twice about how much their mutual fund company charged them-and hardly made a peep if those expenses rose. But with investors still smarting from last year's crash, even with the recent rebound, and experts cautioning not to expect a return to the old highs any time soon, the hunt for lower fees has become a crucial part of a sound investment strategy. "The lower your fund cost, the faster you are likely to recoup the past year's losses," says Russel Kinnel, director of mutual fund research at Morningstar. One of the ironies of the fund industry is that expenses often increase after a period of lousy performance, as companies make up for dwindling fund assets. It's not surprising then that expenses are expected to reverse what has been a downward trend since 2003. Morningstar estimates that average fund fees could rise about 6 percent this year. That might not seem like much, but costs can add up over time. Assume, for example, that a retiree has a $200,000 nest egg in one fund, growing 8 percent a year, and wants to withdraw 4 percent each year for the next 30 years. If the fund charges the industry's average annual fee — about 1.5 percent — the retiree can withdraw about $9,600 a year. But with a fund earning the same return but charging only 0.2 percent, the retiree can withdraw $11,300 a year. Of course, higher fees can be worth the price if they come with top-notch performance. "What's important is how much the fund pays you in the end," says Adam Bold, founder of the Mutual Fund Store, an investment advisory firm. At the same time, experts say that low fees often mean better long-term results. The lowest-cost large-company stock funds, for example, returned an annualized average of 0.16 percent over the past decade, while the costliest lost 1.64 percent, according to fund researcher Lipper. The difference was even starker for small-company stock funds, with the cheapest returning an average 5.5 percent a year over the past decade, compared with a 1.6 percent return for the most expensive group. Some experts believe that the financial crisis has convinced people to make lower-cost funds more of a priority. Vanguard reported inflows of more than $69 billion through August, with two-thirds of it going into its low-cost index-related products. Others are climbing onto the low-cost bandwagon. Putnam Investments lowered fees on some funds and linked other funds' expenses to performance. Charles Schwab has cut fees on a range of funds, including many index products. Some firms charge much lower fees to customers with, say, $100,000 to invest, but individuals also can choose a financial planner who pools together clients' money to snag the lower costs. Morningstar's Kinnel says, in general, just picking funds with the lowest expenses builds in a margin of safety: "Even if they raise their fees a bit, they are still among the cheapest." Our Picks
These mutual funds combine lower-than-average expenses with strong performance. Primecap Odyssey Aggressive Growth (POAGX)Assets: $386 million | Expenses: $78 per $10,000 Run by the same veteran team that manages highly regarded Vanguard Primecap, this is one of the cheaper actively managed stock funds. The managers' contrarian approach and ability to pick stocks of any size has led to impressive returns, putting the fund in the top percentile of midcap growth funds over the past year. Vanguard Dividend Growth (VDIGX)Assets: $2.3 billion | Expenses: $36 per $10,000 The fund's managers focus on firms with the ability to boost payouts, which means the fund's holdings are chock-full of steady cash-flow generators that typically hold up better in volatile periods. The fund ranks in the top 5 percent of its category over the past three years, according to Morningstar. Matthews Pacific Tiger (MAPTX)Assets: $3.2 billion | Expenses: $112 per $10,000 Expenses are typically higher in emerging-market funds, but Pacific Tiger stands out as one of the cheapest options. The fund is one of a handful that regularly invests in smaller firms in emerging markets-an area where many strategists still see greater potential gains.
TCW Total Return Bond (TGLMX) This bond fund has navigated well through most market environments, landing in the top 1 or 2 percent of its bond peers over both the short term and the long haul by investing mostly in mortgage-backed securities. It also recently slashed its fees. Data: Morningstar 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 | 14 Oct 2009 | 10:00 pm Landcorp profit falls amid tough times for agricultureLandcorp Farming, the state owned national farming company has reported a net operating profit of $6.9 million for the end of June year, well down on 2007/08's $11 million.Though total operating income rose to $174 million, "the...Source: nzherald.co.nz - Business | 14 Oct 2009 | 9:30 pm Strong buyer demand for dairy farms in SeptemberThere was "strong demand" for dairy farms in September as milk powder prices rose again over the month, Real Estate Institute of New Zealand (REINZ) President Peter McDonald said today.However, McDonald said farmers appeared to...Source: nzherald.co.nz - Business | 14 Oct 2009 | 9:30 pm Lazard CEO Bruce Wasserstein diesNEW YORK (Reuters) - Bruce Wasserstein, the legendary Wall Street deal maker identified with an era of no-holds-barred takeover battles, has died at the age of 61. His death leaves major questions about the future direction and leadership of Lazard Ltd., the investment bank he headed.Source: Reuters: Business News | 14 Oct 2009 | 8:08 pm Lazard CEO Bruce Wasserstein dies (Reuters)
Source: Yahoo! News: Business | 14 Oct 2009 | 8:08 pm Dow Jones breaks through 10,000NEW YORK - The Dow Jones industrial average is back above 10,000 for the first time in a year.The Dow crossed five figures overnight, seven months after it hit a 12-year low of 6,547.05 on March 9. The comeback by the stock market's...Source: nzherald.co.nz - Business | 14 Oct 2009 | 8:00 pm The FOMC Unemployment BluesBuried deep in the Minutes of The Federal Open Market Committee for September 22 and 23 is the group’s forecast for joblessness. The committee’s conclusion is that “the unemployment rate moving down to about 9¼ percent by the end of 2010 and then falling to about 8 percent by the end of 2011.” Since these are consensus [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Oct 2009 | 7:19 pm Dow closes above 10,000 for 1st time in a year (AP)
Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 7:16 pm Despite Marketing 101, The Rise of Captain Lou AlbanoAlthough he did not wear an eye patch, Captain Lou Albano was the Hathaway shirt man of wresting and rock and roll. Albano was as improbable as celebrity as he was a professional wrestler. He was an endomorph who grew so large that his heart exploded in 2005. He was lucky to live to see his 76th [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Oct 2009 | 7:14 pm Dow Jones breaks through 10,000The Dow Jones index tops the 10,000 mark for the first time in a year, boosted by better-than-expected results from JP Morgan.Source: BBC News | Business | World Edition | 14 Oct 2009 | 7:13 pm Fed officials were conflicted over revival program (AP)
Source: Yahoo! News: Business | 14 Oct 2009 | 6:30 pm The New York Times (NYT) Will Keep The Boston GlobeThe newspaper industry must be looking up. Recently, Gannett (NYSE:GCI) said its last quarter was better than expected. Today, The New York Times Company (NYSE:NYT) said it would keep The Boston Globe which has been for sale for several months. The Times said earlier this year that The Globe would loss $85 million in 2009, but [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Oct 2009 | 6:26 pm Bruce Wasserstein is bid farewell by Wall StreetBruce Wasserstein, one of the world’s best-known investment bankers, died yesterday, ending an era in which hard-driving dealmakers were the kings of Wall Street. Source: Latest Business News from Times Online | 14 Oct 2009 | 6:17 pm Trial lawyer defends Bear manager; U.S. cites "lies"NEW YORK (Reuters) - A lawyer for former Bear Stearns hedge fund manager Ralph Cioffi on Wednesday vigorously defended him against prosecution allegations he repeatedly lied to investors early in the financial crisis, describing as "ridiculous" one charge of insider trading.Source: Reuters: Business News | 14 Oct 2009 | 6:14 pm Forests proposal for high countrySome farmers in the South Island high country want to plant forests to take advantage of the Emissions Trading Scheme (ETS), politicians were told today.Concerns over wilding pines and their environmental impact meant Land Information...Source: nzherald.co.nz - Business | 14 Oct 2009 | 6:05 pm Bear Stearns fund managers 'lied to investors to save their bonuses'Ralph Cioffi and Matthew Tannin were accused in a New York court of lying "over and over again" to "investors to save their multimillion dollar bonuses".Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 14 Oct 2009 | 6:04 pm New York Times drops Boston Globe saleThe newspaper publisher has ended the plan to sell after cost cuts and a price rise helped ‘significantly improve’ the Boston daily’s financesSource: Financial Times - US homepage | 14 Oct 2009 | 6:04 pm Surprise fall in youth unemployment dismissed as the ‘lull before the storm’The rise in unemployment in Britain slowed abruptly in the three months to August as the number of young people out of work fell, official figures showed yesterday. Source: Latest Business News from Times Online | 14 Oct 2009 | 6:01 pm Swedes prepare to snap up stake in Britain’s new nuclear reactorsSweden’s biggest energy company is eyeing a possible multibillion-pound investment in Britain’s nuclear power industry, The Times has learnt. Source: Latest Business News from Times Online | 14 Oct 2009 | 6:01 pm Lazard chief Wasserstein dies at 61Bruce Wasserstein, the head of the Lazard investment bank and ‘father of modern M&A’, died on Wednesday after a career that put him at the centre of global deal-makingSource: Financial Times - US homepage | 14 Oct 2009 | 5:54 pm Dollar hit on Fed’s signal of low ratesThe dollar fell after minutes from the Federal Reserve’s last policy meeting showed some committee members favoured increased asset purchases to speed recoverySource: Financial Times - US homepage | 14 Oct 2009 | 5:17 pm JPMorgan profits lift Dow past 10,000The Dow Jones Industrial Average climbed above 10,000 for the first time in more than a year on Wednesday after JPMorgan Chase kicked off the US banks’ third-quarter results season by reporting its biggest profit since 2007Source: Financial Times - US homepage | 14 Oct 2009 | 5:12 pm Sparkling successEnglish winemakers toast bumper 2009 grape harvestSource: BBC News | Business | World Edition | 14 Oct 2009 | 5:01 pm Write-Offs: 10.14.09$$$ "The financial system nearly collapsed," the buzzed man in the bar told me, "because smart guys had started working on Wall Street." [NYT] $$$ Allen Stanford coughed up blood today. [AP] $$$ Liz Claman: "If Yahoo fan groups spring up around us [because we're hot], that's great. But it's so tertiary to us. We are interested in communicating to viewers about money." [Poynter] $$$ Group Of Nuns Attacks Goldman Over Large Bonuses [BI] 
 Sponsored Topics: Wall Street - Yahoo - Associated Press - Allen Stanford - The New York Times Company Source: Dealbreaker | 14 Oct 2009 | 5:00 pm Another $50m needed for Farm Systems UruguayNew Zealand Farming Systems Uruguay estimates it needs a further US$50 million ($68.7m) to US$60m to complete development of its 35,000ha of farms.That is on top of the US$30m raised by selling a first tranche of bonds in Uruguay,...Source: nzherald.co.nz - Business | 14 Oct 2009 | 5:00 pm Two US Madoff victims file suit against SEC (AFP)
Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 4:47 pm Stewie Griffin To Carry The Torch For Microsoft
With any luck, in a few short months the addition of the Griffin household to the Microsoft team will allow Steve Ballmer to kick back and declare 'victory is mine'. And celebrate by enjoying a piece of his favorite pie. Heavy on the Cool Whip.
Sponsored Topics: Microsoft - Steve Ballmer - Steve Jobs - Apple - Seth MacFarlane Source: Dealbreaker | 14 Oct 2009 | 4:25 pm M&A Legend Bruce Wasserstein Dies, Leaving Open Fate Of “The Deal” And “New York Magazine”Bruce Wasserstein, one of the great M&A bankers in Wall St. history and CEO of Lazard (NYSE:LAZ) died at age 61. His passing leaves open the eventual fate of his two premier media properties “The Deal” and “New York Magazine” Both are rumored to be operating in the red since the huge downturn in print and online [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Oct 2009 | 4:24 pm U.S. SEC to consider rules for dark pools Wednesday (Reuters)Reuters - U.S. securities regulators will consider next Wednesday proposals to shed more light on dark pools, or venues where stock trades are hidden from public view, a notice on the Securities and Exchange Commission's website said.Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 4:14 pm Banking legend Wasserstein diesThe renowned US investment banker and chief executive of Lazard, Bruce Wasserstein, dies at the age of 61.Source: BBC News | Business | World Edition | 14 Oct 2009 | 4:06 pm Strong oil boosts TSX despite gold's fall (Reuters)Reuters - Toronto's main stock index closed higher on Wednesday as rising oil prices lifted Suncor Energy and other oil and gas shares, while upbeat U.S. corporate earnings helped boost sentiment.Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 4:02 pm Wall Street Journal surpasses USA Today as No. 1 (AP)
Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 3:53 pm Wall Street Journal surpasses USA Today as No. 1 (AP)
Source: Yahoo! News: Business | 14 Oct 2009 | 3:53 pm How the major stock indexes fared on Wednesday (AP)AP - The Dow Jones industrial average is back above 10,000 for the first time in a year.Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 3:52 pm Obama wants $250 for seniorsPresident Obama is calling on Congress to send another $250 payment to 57 million seniors and other Americans to stem the economic strain.Source: Business and financial news - CNNMoney.com | 14 Oct 2009 | 3:44 pm Couple sues SEC for $2.4 million in Madoff losses (AP)
Source: Yahoo! News: Stock Markets News | 14 Oct 2009 | 3:40 pm Neil Barofksy Puts $168 Million On Geithner's Tab
Sponsored Topics: Neil Barofsky - American International Group - Treasury - Troubled Asset Relief Program - AIG Source: Dealbreaker | 14 Oct 2009 | 3:39 pm Fund managers face trial in mortgage market case (AP)AP - Two former Bear Stearns hedge fund managers went on trial Wednesday in one of the few criminal cases brought against Wall Street executives in connection with the housing market collapse.Source: Yahoo! News: Business | 14 Oct 2009 | 3:37 pm Podcast: The Riddle Of Minimum Wage
In San Francisco, home of the $9.79 hourly minimum wage, vacancies are cropping up downtown. (Steve Rhodes / Planet Money Flickr pool) On today's Planet Money: You've got economic riddles, and economists have answers. First up, Emily Oster of the University of Chicago Booth School of Business tackles the question about minimum wage. Why is that cities that have raised their minimum wages so often have lower rates of joblessness and healthier economies? Second, Robert Frank of Cornell wrestles with the question of why software companies set such widely varying prices for essentially the same software. If you want to propose your own answers, hit the comments before you listen. Bonus: After the jump, talking about Tim Geithner on Capitol Hill. Download the podcast; or subscribe. Intro music: A Fine Frenzy's "Blow Away." Find us: Twitter/ Facebook/ Flickr. The special investigator general for the TARP bailout told the House Committee on Oversight and Government Reform today that Treasury Secretary Tim Geithner should have thwarted plans by foundering AIG to pay out $168 million in bonuses. SIG-TARP Neil Barosky reports that Geithner's former staff at the Federal Reserve Bank of New York knew about the bonuses when they were arranging the bailout of AIG -- even if their boss didn't. Listener Ryan Muir of WYPR land recommends this clip from Barofsky's testimony: » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Oct 2009 | 3:03 pm WSJ: Bruce Wasserstein Is Dead
Sponsored Topics: Left 4 Dead - Games - Video Games - Valve - Fighting Source: Dealbreaker | 14 Oct 2009 | 2:49 pm Benefits big lure in military recruitmentFor the first time since 1973, the Army, Navy, Air Force and Marines have met or exceeded recruitment targets. It's not just the weak job market that's a factor. The military benefits package is a big draw. John Dimsdale reports.Source: Marketplace | 14 Oct 2009 | 2:42 pm Dairy farmers find more green in grassSome New Zealand immigrants in Missouri are working to persuade American dairy farmers that changing the way they feed their cows could save money in the long run. Maureen McCollum reports.Source: Marketplace | 14 Oct 2009 | 2:41 pm Bloomberg sees biz mag helping brandThe Bloomberg news service is buying BusinessWeek for an estimated -- and paltry -- $5 million. It hopes the magazine will help it reach an audience outside the world of hardcore financial news and data. Ashley Milne-Tyte reports.Source: Marketplace | 14 Oct 2009 | 2:41 pm JPMorgan is anything but a bellwetherJPMorgan-Chase may have posted its biggest profits in more than a year -- $3.6 billion for the third quarter -- but such stellar figures aren't being seen in most other parts of the economy. Alisa Roth reports.Source: Marketplace | 14 Oct 2009 | 2:41 pm 'Book of Odds' gives eye-opening statsWant to know what the odds are you'll survive two atomic bombs? How about more specific odds about yourself? The new Web site "Book of Odds" allows you to get up and personal about your own statistics. Bob Moon talks to founder Amram Shapiro.Source: Marketplace | 14 Oct 2009 | 2:37 pm Boss’s Day Tribute: 5 Characteristics of Good Bosses
October 16 is National Boss’s Day, the day employees thank their bosses for their contributions to the workforce. To honor the day, we’ve created a list of five characteristics good bosses share. Where does yours fit in? 1. Flexibility. Bosses, from middle managers to C-level executives, face changes during the course of their jobs. These days, it might have to do more with downsizing or restructuring, but good company times bring upheavals, too. A good boss reacts to change in a proactive way. She supports her organization by making the changes it requires. At the same time, she communicates clearly and respectfully to her employees about upcoming changes. Her behavior informs employees’ perspective of the change, affecting their reactions. A panicked manager can bring down an entire team. A good manager knows this, and reacts to change with poise. 2. Knowledge. A good boss knows his company, his field, and his employees. He helps his company grow and prosper by executing the tasks required of him. His knowledge of his field helps him suggest new innovations, directions, and projects that will benefit the company. He also knows his employees’ personalities well enough to know how they feel about their jobs. He regularly drops in and talks to them, learning about their concerns, ideas, and achievements. That way, employees feel supported, and the boss can help drive individuals and the team in the direction it needs to go. The company benefits as a result. 3. Job satisfaction. If a boss doesn’t like her job, she transmits her dismay to her team. The individuals in her team suffer as a result. Have you ever had a boss who does things half-assed? Or one so insecure in her position that she tries too hard to control her workforce? It doesn’t make for a good working experience–or a good team. 4. Organizational concern. You might think the best bosses are concerned more with their employees than their company. This is not the case. An employee-centric boss may bend to his employees’ needs, but they won’t see him as much of a savior if he drives his team or company into the ground. A good boss works to secure his organization’s good fortune, ideally creating more jobs in the process. He balances his organization’s needs with those of his employees. If the interests of his organization clash with his employees, he is a successful liaison between the two. He knows that being a boss isn’t only about his employees, or about his own career advancement. It is about mobilizing his workers to do a good job for the organization. 5. Respect. A good boss treats coworkers with respect, no matter what level of the organization those people operate in. He respects people as individuals, regardless of age, working background, race, religion, or political beliefs. He recognizes that each of his employees provide the company with a valuable service. That service matters more than an employee’s belief structure or background. Not being respectful fosters fear and resentment–hardly the ingredients for a successful team. If you’re an employee, wish your boss Happy Boss’s Day with a card, gift, or friendly email. If you’re a boss, Happy Boss’s Day!
Source: Business Pundit | 14 Oct 2009 | 2:34 pm Dow 10,000: Call It
Sponsored Topics: Games - Drinking game - Kimora: Life in the Fab Lane - Stomach - Television Source: Dealbreaker | 14 Oct 2009 | 2:34 pm Presented By:Source: Dealbreaker | 14 Oct 2009 | 2:34 pm Kaimowitz on Spending; Tilson on Mortgages: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 2:30 pm Skidelsky Says Stimulus Debates Today Same as 1930s: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 2:16 pm Scott Wapner Rejects Your Theory That Dow 10,000 Is "Just A Number""What do you mean it's not important?! This is the god damn cat's ass! Fuck you! Give me something! Don't we screen these guests beforehand?! Jesus." Also good: "How many of us think we're going to close above 10,000? Gimme a show of hands. Get those things in the air."
Sponsored Topics: Number theory - Math - Events - Research Groups - Past Events Source: Dealbreaker | 14 Oct 2009 | 2:07 pm Federal Reserve: Unemployment Is Here For A WhileBy Laura Conaway The latest minutes are in from the Federal Reserve's Federal Open Market Committee meeting. Policymakers at the September gathering disagreed about when the Federal Reserve should pull back from market interventions like buying Treasurys and mortgage bonds. Committee members said they're not at all sure what will happen once the Fed and the administration stop propping up the economy. Key quote from the minutes: Some of the recent gains in activity probably reflected government policy support, and participants expressed considerable uncertainty about the likely strength of the upturn once those supports were withdrawn or their effects waned. Overall, the economy was projected to expand over the remainder of 2009 and during 2010, but at a pace that was unlikely to reduce the unemployment rate appreciably. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Oct 2009 | 1:53 pm Madoff Victims Devise Hedging Strategy
Sponsored Topics: BernardMadoff - Investment - Business - Investing - Funds Source: Dealbreaker | 14 Oct 2009 | 1:51 pm Geithner aides made millions on Wall StreetObama administration officials now working on fixing the financial system received several million dollars in pay from Wall Street and private equity companiesSource: Financial Times - US homepage | 14 Oct 2009 | 1:49 pm Signs Of The Recovery
But surely there must have been some method to the madness of carpet bombing the country with $1200 a piece signs.
Sponsored Topics: Public relations - Press secretary - Business - United States - Business Services Source: Dealbreaker | 14 Oct 2009 | 12:48 pm UK Firms Can't Have Women Around The Office On The Off Chance Someone Reaches Out And Touches Them
Sponsored Topics: Financial services - Business - Women - People - UK Source: Dealbreaker | 14 Oct 2009 | 12:43 pm GM set to agree Opel stake saleThe carmaker will announce it has reached an agreement to sell 55% of its European arm to Magna and Sberbank in spite of failing to secure Spanish consentSource: Financial Times - US homepage | 14 Oct 2009 | 12:37 pm Listener: What If We Outlawed Health Insurance?Nate Stell writes: After a quick look in the mirror at a funny-looking mole, I decided I should make a call. The difference is that I've been living in Bangalore, India, for a little more than a year now, so my experience with the doctors and insurance companies was pretty different. First, there was no insurance involved. I have a catastrophic insurance plan basically just to keep me covered so I don't get denied for pre-existing conditions once I finally come home. At any rate, the health care costs in India relative to my income are so much less than in the States that I don't need insurance here. The total cost for the original consultation with the dermatologist, the session where she removed three moles, and the pathology lab tests cost $61. This is about 19 percent of one month's salary of $325, which I would guess is roughly equivalent to that of an entry level position for a 4-year college grad in India or a diploma graduate (2 years college) with about 3-4 years experience. The other difference is that there was no referral, I would assume because there's no insurance company worrying that I'm going to get too much care, since I'm paying for it out of pocket anyway. I called this morning at 10AM, thinking I'd have to meet a PCP and then schedule a dermatologist appt for a week or so later, but found myself in the dermatologist's office an hour later. I went back a few hours later to have the moles removed, and I'll get the results back from the lab within a week. Of course, this is just one isolated instance, but for all the flak that India gets about its inefficient bureaucracy, I couldn't help but notice that this was the simplest health care experience I've ever had. I filled out zero forms, I paid the full amount in cash, and all the work was done in a day. Crazy. This all made me wonder, and this is probably a ridiculously stupid question, but what about the flipside of the idea that everyone gets health insurance? What if the US banned health insurance? What would happen? » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 14 Oct 2009 | 12:03 pm Dwyer Likes Information Technology, Energy Stocks: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 11:59 am Toshiba Raised to `Overweight’ JPMorgan: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 11:55 am Russia, China talking business moreRussian Prime Minister Vladimir Putin and Chinese President Hu Jintao met in Beijing, where the two sides tried to broker a deal for Russia to sell natural gas to China. Scott Tong explores the economic collaboration between the two countries.Source: Marketplace | 14 Oct 2009 | 11:10 am How will Great Recession shape youth?Those who endured the Great Depression sought job security. How will a weak job market impact the current generation, which is struggling to find work? Commentator David Frum suggests a focus on the skill level of the population.Source: Marketplace | 14 Oct 2009 | 11:09 am Do ads with high shock value work?New York City's public health officials are going after high-calorie beverages with a graphic ad campaign that shows what happens to your body after too many sugary drinks. Sally Herships reports on what this shock value is worth.Source: Marketplace | 14 Oct 2009 | 10:59 am European Union: Life Without Inflation
Chart by Matthew Yglesias By Laura Conaway Matthew Yglesias made the chart above for a post about the notion of a carbon tariff. Yglesias notes that as part of any climate change bill, the Senate may want to slap a tariff on trading partners that don't try to curb greenhouse gases. The idea is to prevent a cap-and-trade program from putting American manufacturers at a disadvantage -- with the primary bogeyman being China. Which is compelling enough on its own. But I like Yglesias' chart for the urgency it gives to the latest pricing news from European Union countries. America's largest trading partner is reporting little or negative inflation. As a whole the European Union is experiencing average inflation of a mere 0.6 percent. For the 16 countries that use the euro, it's -0.3 percent. Those are scary numbers. Economists like to see a certain amount of gentle inflation -- something about 3 percent -- and they're not seeing it. "We are seeing another round of substantial contraction of the already depressed economy," writes Carl Weinberg of High Frequency Economics. Weinberg says the situation amounts to falling output -- in the Eurozone, it's barely ticking upward and still down by double digits from last year -- followed by falling prices, failing businesses and the laying off of workers. If you like the positive-ish view, try this from Bloomberg: "Manufacturing surveys continue to paint a rosy picture of the near-term outlook," said Carsten Brzeski, an economist at ING Groep NV in Brussels. "The industrial recovery will continue but, of course, no recovery follows a straight upward line. New setbacks are likely." The Bureau of Labor Statistics reports that its price index for imports in September 2009 was down 12 percent from the same month last year. From August 2009 to last month, the index eked out a climb of 0.1 percent. Marc Chandler, of the Brown Brothers Harriman currency desk, says the relatively weak U.S. dollar should lead to more expensive imports. Chandler notes that in the latest report, imports from Canada and the Pacific Rim -- including China and Japan -- were up 0.1%. Goods from the European Union went up by 0.5 percent from August to September but are down 4.6% from 2008. He argues that if imports cost more, then domestic manufacturers can keep their prices higher, too -- and perhaps help avoid a cycle of deflation. "That means that a greater rise in import prices would, in the current environment, be more desirable," he writes. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Oct 2009 | 10:56 am Finland Makes Broadband Access a Legal Right
Finland has become the first country in the world to guarantee its citizens access to broadband. TechCrunch has more: According to Wikipedia, approximately 79 percent of the Finnish population use the Internet. Finland had around 1.52 million broadband Internet connections by the end of June 2007 or around 287 per 1,000 inhabitants. This doesn’t mean Finland is offering free Internet access to everyone. Rather, it is ensuring that its network is accessible to all citizens. From the Finnish government site: The distance from the subscriber to the nearest optical fibre or cable network should be at most two kilometres. The aim of the Government’s policy outline is to ensure that the telecommunications network meets society’s needs, now and in the future. According to (one) study, it will not be possible to offer telecommunications networks on a regionally equal basis through commercial means. The report proposes that the state, regions and municipalities share in the costs of improving the telecommunications network in those areas where the target level for 2015 cannot be reached by commercial means. The purpose is for the Regional Councils to organise competitive bidding among the telecommunications operators. “As the telecommunications network needed cannot be provided on market terms in all respects, its construction must be supported by public funds,” Lindén confirms. The user will still procure and pay the costs of their subscriber connection in the future, and also decide on the speed and technology they want for the connection. To promote equality among citizens, a domestic help credit will be extended to citizens in 2009.
Source: Business Pundit | 14 Oct 2009 | 10:40 am Schork Says Wall Street to Blame for Oil Prices: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 10:31 am Telsey Says U.S. Retailers Seeing Stair-Step Recovery: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 10:28 am List of Cars Affected by the Ford Cruise Control RecallStarting October 26, Ford will recall 4.5 million cars to fix a leaky cruise control switch that may lead to car fires. Below is a complete list of new recalled cars, as read in the Detroit News: Ford Windstar: 1995-2003 If your vehicle is affected, bring it to your local Ford/Mercury dealer on October 26. Call them to make sure if/when they can fit you in.
Source: Business Pundit | 14 Oct 2009 | 10:22 am US retail sales dragged down by auto sales (AFP)
Source: Yahoo! News: Business | 14 Oct 2009 | 9:41 am 12 John Wooden Quotes for Leadership Success
Hall of Fame basketball player and legendary coach John Wooden turns 99 today. Best known for coaching the UCLA Bruins through 27 winning seasons, Wooden mastered the tenets of leading successfully. Below are 12 John Wooden quotes that will inspire leadership success, regardless of field: 1. Never mistake activity for achievement. 2. A coach is someone who can give correction without causing resentment. 3. Ability is a poor man’s wealth. 4. Adversity is the state in which man mostly easily becomes acquainted with himself, being especially free of admirers then. 5. Do not let what you cannot do interfere with what you can do. 6. I’d rather have a lot of talent and a little experience than a lot of experience and a little talent. 7. Failure is not fatal, but failure to change might be. 8. It’s not so important who starts the game but who finishes it. 9. It isn’t what you do, but how you do it. 10. It’s what you learn after you know it all that counts. 11. Success comes from knowing that you did your best to become the best that you are capable of becoming. 12. Things turn out best for the people who make the best of the way things turn out. (Source: BrainyQuote)
Source: Business Pundit | 14 Oct 2009 | 9:30 am Carey Sees Price Risk in U.S. Stock Market: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 9:27 am Lucaci Says Hedge Funds Making Gains Over ETFs: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 9:26 am Tower's Silva Sees Flat U.S. Retail Banking Earnings: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 9:25 am Stamenkovic Sees Recovery Driven by Emerging Markets: AudioSource: Bloomberg - All Podcasts | 14 Oct 2009 | 9:23 am “Use Your Thong as a Hair Tie” FAIL
Source: Business Pundit | 14 Oct 2009 | 5:24 am For Wall Street, Pay Hikes. For The Rest Of Us, Pay CutsBy Laura Conaway Good morning. Here's what we're reading today: UPDATE: Retail sales fell in September from the level in August, when the government's Cash for Clunkers program pushed a wave of buyers into car dealerships. Without that federal stimulus, the Commerce Department reports, sales were down by 1.5 percent from month to month, and down 5.7 percent from September 2008. Sales for the third quarter of 2009 were down 6.6 percent from a year ago. The Senate Finance Committee on Tuesday approved its $829 billion plan for overhauling U.S. health care. It includes a tax on so-called Cadillac plans and support for health care cooperatives. The measure passed with a lone Republican supporter, Sen. Olympia Snowe of Maine. Some members of Treasury Secretary Tim Geithner's kitchen cabinet are supplementing their government salaries with millions from big Wall Street firms, Bloomberg reports. Meanwhile, Wall Street pay is on a record pace, the Wall Street Journal reports (sub. requ'd.). For more average Americans, this has been the year of the pay cut. The Mortgage Bankers Association predicts unemployment will reach 10.2 percent next year even as economic growth continues. Meanwhile, median home prices in Southern California have, miraculously, risen year-over-year. The stock market continued its upward push after news that China's exports had dropped the least amount in almost a year. The Washington Post's Steven Pearlstein is worried that the market is reinflating old bubbles. British unemployment rose in August by the least amount in a year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Oct 2009 | 4:59 am
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