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Toyota (TM) Joins Ford (F) By Turning A ProftAlmost no one expected any of the world’s largest car companies to make money this year. Sales around the globe are simply down to much and efforts to cut costs have not been enough to match the drop-off in revenue. Ford (NYSE:F) shocked Wall St. by making almost $1 billion in the third quarter. Even more [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Nov 2009 | 3:40 am Wall St. Bonuses Will Rise 40%There has been plenty of evidence that firms like Goldman Sachs (NYSE:GS) have had such huge profits that their bonus payouts may be at all-time highs. The federal government has systematically begun to control bank pay packages. The Treasury “pay czar” is effectively controlling compensation at companies which still owe TARP money. The Fed is pressuring [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Nov 2009 | 3:27 am Insurers report stronger capital, investmentsSeveral European insurers on Thursday reported strengthened balance sheets and improved investment returns for the third quarter, though earnings performance was mixed.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 3:23 am Cisco says recovery is underwaySource: Business and financial news - CNNMoney.com | 5 Nov 2009 | 3:22 am Top ten bestselling cars in OctoberNew car sales in Britain soared in October as buyers continued to take advantage of the Government's "cash for bangers" car scrappage scheme. These were the the topselling models in October 2009 according to the Society of Motor Manufacturers and Traders SMMT.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Nov 2009 | 3:19 am Asian markets end mostly lower; Shanghai risesMost Asian markets retreat after authorities in South Korea and New Zealand voice their preference for an accommodative policy stance, citing concerns about economic uncertainties.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 3:19 am UK new car sales jump in OctoberNew car sales in Britain soared in October as buyers continued to take advantage of the Government's "cash for bangers" car scrappage scheme the Society of Motor Manufacturers and Traders SMMT said..Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Nov 2009 | 3:17 am Fighting the five-finger discountInventory losses are on the rise, thanks mostly to cashiers giving themselves and friends five-finger discounts. Employees stole an estimated $15 billion from retailers last year, according to University of Florida criminologist Richard Hollinger, who conducts an annual survey of the country's top stores. That's 25% more than stores lost to shoplifters.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 3:16 am Germany and Russia furious at Opel blowGermany and Russia reacted furiously to General Motors' surprise decision to keep Opel rather than sell it, throwing up fresh uncertainty about the future direction of one of Europe's biggest carmakers...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 3:13 am Germany and Russia furious at Opel blowWorkers in Germany are to stage a series of warning strikes in protest against General Motors’ decision to abandon its sale of Opel to Canada’s Magna and Sberbank of Russia.Source: Financial Times - US homepage | 5 Nov 2009 | 3:13 am Four Of Top Ten Private Equity Deals In Default, Or WorseThe private equity business has been unkind to the firms that have done the largest LBO deals of the last year. That only makes sense. Leverage has been beaten down by the recession. PE firms assumed that large debt loads would be paid down from cashflow at the companies that they bought. Those assumptions did [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Nov 2009 | 3:09 am JP Morgan agrees $75m bribe fineUS banking giant JP Morgan agrees to pay a fine of $75m to settle charges that it bribed officials in Alabama.Source: BBC News | Business | World Edition | 5 Nov 2009 | 3:08 am Toyota reports surprise profit, outlook bumpy (Reuters)
Source: Yahoo! News: Business | 5 Nov 2009 | 3:02 am Toyota reports surprise profit, outlook bumpyTOKYO (Reuters) - Toyota Motor Corp's surprise quarterly profit and halving of its annual loss forecast failed to convince investors the world's No.1 carmaker is back on track, as government subsidies peter out and a strong yen takes its toll.Source: Reuters: Business News | 5 Nov 2009 | 3:02 am London Markets: British shares decline ahead of BOE decisionMiners among the worst performers in a busy day for corporate earnings.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 2:54 am Use Of The Internet Does Not Isolate PeopleIt is only natural to think that the rising number of people who are on cellphones and the internet for hours a day would be less likely to interact with the people around them. Focusing on web surfing would seem to pull people away from their immediate surrounding. The case for the internet as a method [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Nov 2009 | 2:53 am Fed: Low rates are here to stayThe Federal Reserve kept its key interest rate near zero once again Wednesday. It added in a statement that although the economy continues to improve, it intends to stay the course in recent months.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 2:53 am Toyota in profit after cost cuts and scrappageToyota, the world’s biggest carmaker, has unexpectedly clawed its way back to profit after a summer of scrappage incentive schemes in the US and Europe and a round of ferocious cost cutting. But the company was swift to quash any premature optimism over the state of the American car market, where it said conditions were still “very severe” and the company is battling to limit the damage of a 3 million-vehicle recall. Source: Latest Business News from Times Online | 5 Nov 2009 | 2:51 am Sharp increase in new car salesNew car sales in October were up more than 30% from a year ago, helped by government scrappage scheme.Source: BBC News | Business | World Edition | 5 Nov 2009 | 2:50 am Be a smarter charitable giverWhen it comes to charitable giving, some well-intentioned moves can backfire.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 2:48 am Stock futures point to lower open for Wall Street shares(Reuters) - U.S. shares were expected to fall on Thursday, after ending only marginally higher in the previous session, following the Federal Reserve's statement that it was keeping rates close to zero for an "extended period."Source: Reuters: Business News | 5 Nov 2009 | 2:42 am Stock futures point to lower open for Wall Street shares (Reuters)
Source: Yahoo! News: Stock Markets News | 5 Nov 2009 | 2:42 am Stock futures point to lower open for Wall Street shares (Reuters)
Source: Yahoo! News: Business | 5 Nov 2009 | 2:42 am You're never too old for stocksQuestion: I'm nearing retirement, but would like to continue investing in stocks and bonds. My question: Should retirees continue to put money into the markets even after they have retired? --Lee Benge, Charlotte, North CarolinaSource: Business and financial news - CNNMoney.com | 5 Nov 2009 | 2:41 am Statoil partners with China in Gulf of MexicoNorwegian oil company Statoil ASA agreed last month to sell part of its interests in the U.S. Gulf of Mexico to the China National Offshore Oil Corporation, a company spokesman said...Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:40 am Unilever finds Cadbury unappetising as sales growth beats forecastsUnilever maker of Magnum ice cream and Dove soap said it was not interested in buying Cadbury finance director James Lawrence told reporters.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Nov 2009 | 2:39 am Kroenke nears Arsenal thresholdArsenal director Stan Kroenke buys more shares in the club, moving very near to the level that would trigger a takeover bid.Source: BBC News | Business | World Edition | 5 Nov 2009 | 2:38 am Oil slips below $80 as US dollar strengthensOil prices slipped below $80 a barrel Thursday in Asia as the U.S. dollar strengthened. Benchmark crude for December delivery was down 57 cents to $79.83 a barrel at late afternoon...Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:36 am Toyota returns to profit as stimulus boosts salesToyota Motor Corp. said Thursday it returned to a profit in the latest quarter and trimmed its projected red ink for the year, underlining the gradual recovery under way for Japan's giant...Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:35 am World stocks drop amid economic recovery doubtsWorld stock markets dropped Thursday as the U.S. Federal Reserve failed to reassure investors that a lasting recovery in the global economy was taking hold. The U.S. central bank decidedSource: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:33 am World stocks drop amid economic recovery doubts (AP)
Source: Yahoo! News: Stock Markets News | 5 Nov 2009 | 2:33 am UPDATE 1-Biovitrum to buy drug firm Swedish Orphan* Says combined group to have sales of 2 bln SEK in 2009Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:32 am UPDATE 1-Biovitrum to buy drug firm Swedish Orphan* Says combined group to have sales of 2 bln SEK in 2009Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:32 am Opel U-turn sparks German strikesOpel workers in Germany are going on strike to protest against parent firm GM's decision not to sell its European operations.Source: BBC News | Business | World Edition | 5 Nov 2009 | 2:27 am Unilever reports 36 percent fall in Q3 profitUnilever NV, maker of Dove soaps and Ben & Jerry's ice cream, saw net profit fall 36 percent for the third quarter, mostly because earnings in the same period a year ago benefited from the...Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:22 am Ratiopharm attracts bids above 2 bln eur -sourcesFRANKFURT, Nov 5 (Reuters) - German generic drugmaker Ratiopharm, put up for sale to cut its owner's debt, has attracted several first-round bids above 2 billion euros ($2.95 billion), two people familiar...Source: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:20 am Software AG sees sales, profits up in 2010* Co hikes FY 2009 outlook, posts Q3 results above forecastsSource: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:18 am UPDATE 2-C&W cuts earnings guidance, to demerge* Revises down EBITDA forecasts due to Caribbean weaknessSource: RSS feed - channel BNewsBusiness | 5 Nov 2009 | 2:15 am Can gold hit $1,500?Gold investors are partying like it's 1849.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 2:14 am Unilever profit falls 36% on lack of asset salesAnglo-Dutch consumer products giant Unliever reported a 36% fall in third-quarter net profit on Thursday on a lack of asset sales even as a measure of revenue rose for the maker of Ben & Jerry’s ice cream.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 2:14 am Toyota reports surprise profitRead full story for latest details.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 2:10 am Europe Markets: European shares drop as rate decisions eyedEuropean shares fell on Thursday morning, with the Bank of England and the European Central Bank due to announce rate decisions on another busy day for corporate earnings.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 2:04 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 2:01 am Media Digest 10/5/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: Toyota (NYSE:TM) returned to a profit. Reuters: The Fed will keep rates near zero for an extended period. Reuters: Cisco (NASDAQ:CSCO) beat forecasts. Reuters: Gold is near $1,100. Reuters: The Senate approved new jobless benefits and housing aid. Reuters: Chrysler offered its new turnaround plan. Reuters: Cable and film operations helped profits at Time Warner (NYSE:TWX) and News Corp (NYSE:NWS). Reuters: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Nov 2009 | 1:58 am Senate extends jobless benefitsAfter weeks of partisan debate, the Senate voted on Wednesday to lengthen unemployment benefits by up to 20 weeks and to extend the $8,000 homebuyer tax credit.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 1:52 am Stocks give up gainsStocks ended mixed Wednesday, giving up bigger gains after the Federal Reserve kept interest rates unchanged and said it will keep them low for an extended period.Source: Business and financial news - CNNMoney.com | 5 Nov 2009 | 1:51 am Wall Street sell-off casts shadow in EuropeEuropean equity markets followed Asia lower on Thursday after Wall Street lost all its gains late in the session as the glow from an initially well-received Fed statement wore off.At 08:40 GMT the FTSE...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:47 am Costco same-store sales top estimates (Reuters)Reuters - Costco Wholesale Corp reported a 5 percent increase in October same-store sales, helped by a weak U.S. dollar that helped push up international sales.Source: Yahoo! News: Business | 5 Nov 2009 | 1:42 am Costco same-store sales top estimates(Reuters) - Costco Wholesale Corp reported a 5 percent increase in October same-store sales, helped by a weak U.S. dollar that helped push up international sales.Source: Reuters: Business News | 5 Nov 2009 | 1:42 am Toyota posts quarterly profit, lifts outlookToyota manages to post a quarterly profit and report a half-year loss that beat analysts’ expectations, with the auto giant also more than halving its full-year net loss prediction.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 1:42 am FTSE 100 weaker as QE decision loomsLondon equities weakened on Thursday on a busy day for corporate newsflow, with traders attention turning to the Bank of England's latest thinking on the UK economy. The FTSE 100 fell 51 points to 5,056...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:41 am Job cuts at troubled Irish bankAnglo Irish Bank is to lay off 230 staff, mainly in the UK and Ireland.Source: BBC News | Business | World Edition | 5 Nov 2009 | 1:41 am Toyota posts surprise profit a day after quitting F1 to save cashThe car maker which this week pulled out of Formula One racing to save cash reported a surprise return of profit in the latest quarter.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Nov 2009 | 1:35 am Currencies: Dollar slips vs. yen but gains on euro and poundThe dollar edges down against the yen in Asia Thursday, although it gains on its European and British counterparts ahead of central-bank meetings later in the session.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 1:28 am Asia Markets And Europe Open (9/5/2009)Markets in Asia were mixed. The Nikkei fell 1.3% to 9,747. Sony (NYSE:SNE) fell. The Hang Seng was down .6% to 21,479. The Shanghai Composite rose .7% to 3,156. At the open in Europe, the FTSE was down .9% to 5,059. The Dax dropped 1.2% to 5,381. Deutsche Telekom (NYSE:DT) rose. The CAC 40 was off 1.1% to 3,631. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 5 Nov 2009 | 1:27 am GM to axe 10,000 jobs as workers stage protestWorkers at Opel in Germany are expected to go on strike today after General Motors (GM) announced that it is to cut 10,000 jobs after its shock decision to halt the sale of its European division. Source: Latest Business News from Times Online | 5 Nov 2009 | 1:22 am Aussie stocks close down 32 pointsSYDNEY - The Australian share market fell to its lowest closing level in almost two months, in a broad-based decline, on fears that the global economic slump has a way to run and that the high oil price may dent company earnings.The...Source: nzherald.co.nz - Business | 5 Nov 2009 | 1:20 am London shares weak at open (AFP)
Source: Yahoo! News: Stock Markets News | 5 Nov 2009 | 1:19 am Booming shares boost China's super-rich, Forbes says (AFP)
Source: Yahoo! News: Stock Markets News | 5 Nov 2009 | 1:10 am Peter Brimelow: Is India clearing way for gold moonshot?News of India's 200-ton bullion purchase from the International Monetary Fund excites the gold bugs.
Source: MarketWatch.com - Top Stories | 5 Nov 2009 | 1:02 am Federal Reserve sees interest rates staying lowThe central bank gives no hint of wanting to tighten credit, with inflation subdued, unemployment high and plenty of unused factory capacity.The Federal Reserve said Wednesday that it was holding short-term interest rates at near zero and would probably make no change in the foreseeable future despite the apparent end to the worst economic downturn in more than a generation.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Federal Reserve sees interest rates staying lowThe central bank gives no hint of wanting to tighten credit, with inflation subdued, unemployment high and plenty of unused factory capacity. ...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am News Corp. seeks new focus for MySpaceHaving lost ground to Facebook and Twitter, the company signals a shift to entertainment for MySpace.Emphasizing a major shift in strategy, News Corp. all but conceded Wednesday that its once-dominant social network MySpace is no longer competitive with rival Facebook or micro-blogging service Twitter and will seek to rebuild the site around entertainment.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Carly Fiorina's Senate campaign an uninspiring product launchThe most cherished American credo is that anyone can grow up and run for high office.Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am Regulators slam Toyota over 'no defect' claimU.S. auto safety agency rebukes an assertion that it found nothing wrong in vehicles involved in a massive recall over incidents of unintended acceleration. ...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am L.A.-area real estate agents are holding open mansionsAmid the market downturn, the public is welcome to see some properties listed for more than $10 million.For Florence Mattar, each open house has a routine. She drives around the neighborhood placing signs, brings in fresh flowers, stocks the refrigerator with bottled water and sets out a sign-in sheet.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Commercial property market to hit bottom in 2010, report saysOwners of properties such as office buildings, warehouses and malls will suffer a surge of painful defaults, write-downs as the market finally faces up to the reality of its diminished conditions.After spending more than a year in suspended animation, the commercial real estate industry is expected to hit bottom in 2010 with a wrenching thud.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Swine flu detected in commercial pigs in IndianaIt's the first time such hogs have tested positive for the H1N1 virus. The news is bad for the pork industry, which has suffered despite USDA assurances that infected animals aren't a consumer threat...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am N.Y. hits Intel with antitrust lawsuitThe company is accused of using bribery and coercion to maintain its dominance of the computer chip market. New...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am Oprah Winfrey Network names Lisa Erspamer as creative chiefErspamer's edge over predecessors is experience working directly with the demanding Winfrey. She is currently co-executive producer of Winfrey's daytime talk show. ...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am No Doubt sues Activision over use in Band Hero gameThe rock group says the Santa Monica video game maker went far beyond agreed-upon uses of members' likenesses in Band Hero, including manipulating them to perform songs popularized by other acts.Rock band No Doubt has filed a real-world lawsuit over its virtual role in the just-released Band Hero edition of the Guitar Hero video game series, contending that the game has "transformed No Doubt band members into a virtual karaoke circus act," singing dozens of songs the group neither wrote, popularized nor approved for use in the game.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Carly Fiorina's Senate campaign an uninspiring product launchThe most cherished American credo is that anyone can grow up and run for high office.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am CalPERS discloses more fees paid to Alfred VillalobosPrivate investment firms paid the former CalPERS board member nearly $18 million more than previously disclosed for helping them get CalPERS business. The news triggers further calls for reform.California's public employee pension plan disclosed millions of dollars in new fees paid to a former board member who represents private investment funds, triggering fresh calls for reforms.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am L.A.-area real estate agents are holding open mansionsAmid the market downturn, the public is welcome to see some properties listed for more than $10 million. For Florence...Source: RSS feed - channel BNPaperBusiness | 5 Nov 2009 | 1:00 am Regulators slam Toyota over 'no defect' claimU.S. auto safety agency rebukes an assertion that it found nothing wrong in vehicles involved in a massive recall over incidents of unintended acceleration.Federal safety regulators have sharply rebuked Toyota Motor Corp. for issuing "inaccurate and misleading" statements asserting that no defect exists in the 3.8 million vehicles it recalled after a Lexus sedan accelerated out of control in San Diego County, killing four people.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am N.Y. hits Intel with antitrust lawsuitThe company is accused of using bribery and coercion to maintain its dominance of the computer chip market.New York Atty. Gen. Andrew Cuomo on Wednesday filed a federal antitrust lawsuit against Intel Corp., the world's largest chip maker, alleging that the company engaged in "a worldwide, systematic campaign of illegal conduct" to maintain its dominance and stifle competition.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Senate extends home-buyer tax credit and jobless aidThe measure is expected to be approved by the House and signed by Obama within days. It is aimed at giving the real estate market an added boost and would expand the credit to existing homeowners.Reporting from Los Angeles and Washington Alejandro Lazo -- Moving to shore up a still shaky economic recovery, the Senate unanimously agreed Wednesday to extend jobless benefits, continue the popular tax credit for first-time home buyers and offer a new tax break to homeowners who want to move up.
Source: L.A. Times - Business | 5 Nov 2009 | 1:00 am Government to take control of East Coast rail serviceThe Government today announced it will take control of National Express’ loss-making East Coast main line rail service on November 14 and will keep the franchise until 2011 until a new operator is found. Source: Latest Business News from Times Online | 5 Nov 2009 | 12:57 am Fed's latest inaction creates more bubble riskThe Federal Open Market Committee in its statement on November 4 left unchanged the language that its ultralow rates would be kept for "an extended period".Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 5 Nov 2009 | 12:56 am Panasonic begins Sanyo takeoverJapanese electronics group Panasonic says it has begun the process to take over smaller rival Sanyo.Source: BBC News | Business | World Edition | 5 Nov 2009 | 12:50 am Carmaker Toyota eyes smaller lossCarmaker Toyota cuts its annual loss forecast after announcing a return to profit in the most recent quarter.Source: BBC News | Business | World Edition | 5 Nov 2009 | 12:10 am How to shop safely onlineSome of the best deals can be found online but you need to make sure your payment is safe.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Nov 2009 | 11:55 pm Gold eases but $1,100 still in sightTOKYO (Reuters) - Spot gold inched lower on Thursday but remained within striking distance of $1,100 an ounce after hitting an all-time high for the second straight session on a weak dollar the previous day.Source: Reuters: Business News | 4 Nov 2009 | 11:41 pm Rupert Murdoch delays plans to charge for online newsRupert Murdoch warned that his plans to charge readers of News Corporation's newspaper websites by the end of next June could be delayed.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Nov 2009 | 11:38 pm Bank of England expected to expand moneyprinting programme to £225bnEconomists predict the Bank of England Governor Mervyn King will today step up the fight against the downturn.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Nov 2009 | 11:34 pm Market falls on unemployment dataThe New Zealand sharemarket drifted down today after weak employment data caused investors to question the strength of the recovery.T he benchmark NZSX-50 index closed down 22.201 points, or 0.701 per cent, at 3144.507, having...Source: nzherald.co.nz - Business | 4 Nov 2009 | 11:14 pm Rates cut on savings account despite Bank rate being kept on holdHalf of all variable rate savings accounts are now paying interest of just 0.5pc or less with nearly a quarter offering returns of 0.1pc or below.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Nov 2009 | 11:14 pm Fame & Fortune: Ben FogleTV adventurer and presenter Ben Fogle first sprang to fame in the BBC's Castaway.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 4 Nov 2009 | 11:01 pm A wave of insurance assets hit the blockA major shake-up is underway in the insurance industry, with key assets coming on the market across the globe as the fallout from the financial crisis continues.
Source: MarketWatch.com - Top Stories | 4 Nov 2009 | 11:00 pm Google seeks revenue from online retailers (Reuters)Reuters - Google Inc is selling a special search product to online retailers, as the Internet giant widens its hunt for new sources of revenue.Source: Yahoo! News: Business | 4 Nov 2009 | 10:38 pm Google seeks revenue from online retailersSAN FRANCISCO (Reuters) - Google Inc is selling a special search product to online retailers, as the Internet giant widens its hunt for new sources of revenue.Source: Reuters: Business News | 4 Nov 2009 | 10:38 pm Dollar falls on unemployment dataThe New Zealand dollar took a step lower today on disappointing employment data, then another step down on comments by Reserve Bank governor Alan Bollard.By 5pm the NZ dollar was at US71.89c from US72.63c at 8am and US71.92c at...Source: nzherald.co.nz - Business | 4 Nov 2009 | 10:37 pm Business defaults rise strongly, says Veda AdvantageMore and more businesses are defaulting on loans and lines of credit, explaining why the government's corporate tax take is down.Veda Advantage, the country's largest credit bureau, has statistics showing a 49.4 per cent increase...Source: nzherald.co.nz - Business | 4 Nov 2009 | 9:30 pm JPMorgan settles SEC 'pay-to-play' charges in Ala. (AP)
Source: Yahoo! News: Stock Markets News | 4 Nov 2009 | 8:27 pm Unemployment up to 6.5pc, highest in nine yearsThe unemployment rate has risen to a nine-year high of 6.5 per cent in the September quarter, with new figures showing the young, Maori and Pacific Islanders bearing much of the impact.The rise was from an unemployment rate of...Source: nzherald.co.nz - Business | 4 Nov 2009 | 7:30 pm Times MPC calls for up to £50bn more in Bank of England’s money-printing plansThe Bank of England’s rate-setters should vote to pump an additional £25 billion to £50 billion into the economy at their meeting today, The Times Monetary Policy Committee recommends. Source: Latest Business News from Times Online | 4 Nov 2009 | 7:22 pm Fed sees rates near zero for "extended period"WASHINGTON (Reuters) - The U.S. Federal Reserve on Wednesday expressed growing confidence that an economic recovery was building, even as it stuck to its commitment to keep borrowing costs near zero for "an extended period."Source: Reuters: Business News | 4 Nov 2009 | 7:11 pm Fed sees rates near zero for "extended period" (Reuters)
Source: Yahoo! News: Business | 4 Nov 2009 | 7:11 pm Bollard calls for exchange rate stabilityReserve Bank Governor Alan Bollard issued a warning to foreign exchange markets today, saying they need to differentiate between New Zealand and Australian economies.Financial markets and businesses needed to appreciate the different...Source: nzherald.co.nz - Business | 4 Nov 2009 | 7:00 pm Cisco beats forecasts, recovery under wayNEW YORK (Reuters) - Cisco Systems Inc posted a stronger-than-expected profit for its fiscal first quarter and said business was recovering as customers are buying more network equipment again after cutting back for the past year.Source: Reuters: Business News | 4 Nov 2009 | 6:44 pm Countrywide ex-CEO Mozilo must face SEC fraud case (Reuters)Reuters - A federal judge rejected a request by Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp, to dismiss a U.S. Securities and Exchange Commission lawsuit accusing him of securities fraud and insider trading.Source: Yahoo! News: Stock Markets News | 4 Nov 2009 | 6:24 pm Aussie economy robust - Westpac bossCANBERRA - Lower interest rates and the federal government's stimulus spending are responsible for Australia's relatively stable economy, Westpac boss Gail Kelly says.Kelly said she was surprised how quickly the Australaian economy...Source: nzherald.co.nz - Business | 4 Nov 2009 | 6:15 pm Chrysler rebuild starts with Fiat partsAUBURN HILLS, Michigan - Chrysler plans to overhaul its vehicles with technology from its new Italian partner, Fiat, and says it has the cash to pay for it, helped by the US government and lower costs.CEO Sergio Marchionne, who...Source: nzherald.co.nz - Business | 4 Nov 2009 | 6:00 pm News Corp, Time Warner helped by movies, cableNEW YORK (Reuters) - News Corp and Time Warner Inc reported higher-than-expected quarterly profit as movie studios and cable network gains helped offset declines at their newspaper and magazine units.Source: Reuters: Business News | 4 Nov 2009 | 5:51 pm Fed spells out stance on ratesThe Federal Reserve signalled that it expected to keep interest rates near zero for at least six months, but for the first time identified factors that could lead to earlier risesSource: Financial Times - US homepage | 4 Nov 2009 | 5:48 pm Value Line, execs paying $45M to settle with SEC (AP)AP - Investment adviser Value Line Inc., its CEO and its former compliance chief have agreed to pay about $45 million to settle regulators' allegations the firm charged more than $24 million in bogus commissions on mutual fund trades.Source: Yahoo! News: Stock Markets News | 4 Nov 2009 | 5:47 pm Costa coffee chain may count cost of advertising claimCosta, the coffee shop chain owned by Whitbread, could find itself in hot water over its claim in its advertising campaign that “7 out of 10 coffee lovers prefer Costa”. Source: Latest Business News from Times Online | 4 Nov 2009 | 5:44 pm News Corp says MySpace's $900m Google deal at riskMySpace, once the centerpiece of Rupert Murdoch’s digital strategy, has fallen ‘significantly’ short of expectations and is jeopardising a critical $900m internet search agreement with GoogleSource: Financial Times - US homepage | 4 Nov 2009 | 5:36 pm Directors' Institute gets sponsorThe Auckland branch of the Institute of Directors has a new sponsor - law firm Lowndes Associates.Partner Mark Lowndes said the decision to sponsor the IoD was a straightforward one for his firm."One activity which we see...Source: nzherald.co.nz - Business | 4 Nov 2009 | 5:30 pm Goldman benefits from trading bonanzaTraders at Goldman Sachs recorded only one daily loss in the third quarter, highlighting the trading bonanza sweeping Wall Street as central banks continue to pump billions of dollars into the financial system.Source: Financial Times - US homepage | 4 Nov 2009 | 5:13 pm Ebay closes in on sale of SkypeEBay's sale of Skype to an investment group for $1.9 billion is set to close within a month as a deal to settle a bitter legal battle over the future of the internet telephony company neared completion.$ Source: Latest Business News from Times Online | 4 Nov 2009 | 5:01 pm Tins out as Roses come dressed in cardboardA family Christmas without a tin of Cadbury’s Roses is almost as unthinkable as going without mince pies or crackers. But nothing, it seems, is sacred in these straitened times and this year the famous tins will be replaced with recycled cardboard boxes. Source: Latest Business News from Times Online | 4 Nov 2009 | 5:01 pm After two days in the job, new bmibaby boss makes a quarter of staff redundantA quarter of the staff at bmibaby have been told they are to lose their jobs, only two days after Lufthansa, its parent, put a new boss in charge of the loss-making airline. Source: Latest Business News from Times Online | 4 Nov 2009 | 5:01 pm Northern Rock 'bad bank’ will make thousands of home loan borrowers financial prisonersMany thousands of Northern Rock mortgage borrowers will become financial “prisoners”, dumped into the rump of the lender’s so-called bad bank, it emerged yesterday. Source: Latest Business News from Times Online | 4 Nov 2009 | 5:01 pm Change at the top of Mitchells & ButlersMitchells & Butlers (M&B), the pub and restaurant operator, is seeking a new heavyweight non-executive director with a view to the successful candidate taking over as chairman in the next few months, The Times has learnt. Source: Latest Business News from Times Online | 4 Nov 2009 | 5:01 pm Dubai delays debut of tallest towerDUBAI, United Arab Emirates - Visitors will have to wait until early next year for the opening of the world's tallest building in Dubai.The city-state's ruler said today the hulking Burj Dubai will now debut on Jan. 4, a month...Source: nzherald.co.nz - Business | 4 Nov 2009 | 5:00 pm Qualcomm outlook off but shares up after Samsung dealNEW YORK (Reuters) - Wireless chip supplier Qualcomm Inc on Wednesday forecast weaker than expected full- year results, but its extension of a key deal with Korea's Samsung Electronics helped offset the disappointment for some investors.Source: Reuters: Business News | 4 Nov 2009 | 4:57 pm Zumiez Oct. sales comparison drops 8.9 percent (AP)AP - Sports apparel and equipment retailer Zumiez Inc. on Wednesday said sales at stores open at least a year fell 8.9 percent in October.Source: Yahoo! News: Business | 4 Nov 2009 | 4:24 pm CA-CANADA Summary (Reuters)Reuters - Canada took a step on Wednesday to scrapping a controversial gun registry, though rules will still remain much tougher than in the United States. The House of Commons approved in principle a bill that would eliminate a decade-old registry of long guns such as hunting rifles and shotguns.Source: Yahoo! News: Stock Markets News | 4 Nov 2009 | 4:20 pm Senate approves jobless, housing aidWASHINGTON (Reuters) - The U.S. Senate vote unanimously on Wednesday to extend aid for jobless workers and broaden tax breaks for homebuyers and businesses in a bid to breathe life into the struggling U.S. economy.Source: Reuters: Business News | 4 Nov 2009 | 4:18 pm Write-Offs: 11.04.09$$$ Will a Yankee Win Favor Wall Street's Bulls? [Dealbook] $$$ Rodgin Cohen On The Decade's End [The Deal] $$$ Former Merrill Banker Helped Evercore Score Railroad Deal [WSJ] $$$ Roubini Says Rogers's Forecast of $2,000 Gold 'Utter Nonsense' [Bloomberg] $$$ Will an ex-Bear guy win the World Series Of Poker? [Time] 
 Source: Dealbreaker | 4 Nov 2009 | 4:09 pm Presented By:Source: Dealbreaker | 4 Nov 2009 | 4:09 pm Forecast of gas glut challenges Russian gripThe world faces a natural gas surfeit that will cool prices, says the International Energy Agency, raising the prospect that Moscow’s hold over Europe’s energy security will loosenSource: Financial Times - US homepage | 4 Nov 2009 | 4:01 pm Chrysler broke even in SeptemberChrysler Group broke even in September and ended its first post-bankruptcy quarter with more cash on hand than it had at the beginning of the period, the company's new boss said Wednesday.Source: Business and financial news - CNNMoney.com | 4 Nov 2009 | 3:57 pm Stocks give up gains in last hour, finish mixed (AP)
Source: Yahoo! News: Stock Markets News | 4 Nov 2009 | 3:54 pm Stocks give up gains in last hour, finish mixed (AP)
Source: Yahoo! News: Business | 4 Nov 2009 | 3:54 pm Economy incentive in Ohio casino voteAfter nearly two decades of saying no to casino gambling, Ohio voters have decided to roll the dice. They're going to bring casinos to four cities to get the economy going. Dan Moulthrop looks at what caused the turnaround.Source: Marketplace | 4 Nov 2009 | 3:48 pm Intel in threats and bribery suitIntel is hit with an anti-competition lawsuit in the US, accused of using "illegal threats" to dominate microchip sales.Source: BBC News | Business | World Edition | 4 Nov 2009 | 3:41 pm John Paulson: NINTH GRADER
Source: Dealbreaker | 4 Nov 2009 | 3:36 pm Impulse buying gives way to US frugalityTights, sunglasses and boneless chickens have joined the list of casualties of America’s economic crisis, as the era of impulse shopping gives way to more wary behaviour in the nation’s grocery aisles.Source: Financial Times - US homepage | 4 Nov 2009 | 3:30 pm Gold hits new high on India dealThe price of gold reaches an all-time high after a large sale of the precious commodity by the International Monetary Fund to India.Source: BBC News | Business | World Edition | 4 Nov 2009 | 3:19 pm Brown under pressure after Afghan killingsSenior figures in Britain’s ruling Labour party have warned the prime minister of mounting pressure over the war in Afghanistan after five UK soldiers were shot dead by an Afghan policeman at a training campSource: Financial Times - US homepage | 4 Nov 2009 | 3:17 pm Havens-Hasty on Mergers, Fullman on Options Volatility: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 2:52 pm Schork Sees ETFs Forcing Shift to Gasoline From Oil: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 2:45 pm How the major stock indexes fared on Wednesday (AP)AP - A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy. A House vote to speed up the effective date of limits on credit card companies took bank stocks sharply lower in the last hour of trading.Source: Yahoo! News: Stock Markets News | 4 Nov 2009 | 2:44 pm GMAC posts Q3 loss, hurt by mortgage unit (Reuters)Reuters - GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.Source: Yahoo! News: Business | 4 Nov 2009 | 2:32 pm Top 10 Grossing Apple (AAPL) AppsApple recently started publishing a list of the top grossing applications in its App Store. Since its inception the App Store has posted over 2 billion downloads. The App Store effectively operates like a consignment shop. Apple keeps a third of the price of any application sold in the App Store, while the developer gets [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Nov 2009 | 2:30 pm GMAC Financial Services 3Q loss narrows (AP)
Source: Yahoo! News: Business | 4 Nov 2009 | 2:20 pm The Cisco (CSCO) Kid Puts On A Rally CapRouter and video infrastructure giant Cisco (NASDAQ:CSCO) posted better-than-expected quarterly numbers for the period ending October 24, its first fiscal of the year. Revenue fell 13% to $9 billion. EPS was $.39, down 19%. Cisco’s stock rose almost $1 to $24.17. The company’s surprise announcement was that it will buy back $10 billion of stock. Cisco [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Nov 2009 | 2:15 pm US interest rates left unchangedThe Federal Reserve keeps US interest rates on hold at between 0% and 0.25% to help the economic recovery, as expected.Source: BBC News | Business | World Edition | 4 Nov 2009 | 1:58 pm Charlie Gasparino Also Huge In Greenwich?As previously mentioned, it seems Charlie Gasparino has some (cheapskate) fans in New Canaan, who lined up to get their hands on his new book, Up In Smoke, the second it was available at their local library. Now our attention has been directed to the fact that he's got some rabid followers in Greenwich: every copy of his tome has been checked out or reserved in the last 24 hours. Now, obviously, we wouldn't dare suggest that the entire state of Connecticut wasn't waiting with bated breath to read (but not pay for) the definitive book on the crisis. But does this not seem a bit suspect? Clearly if a certain hedge fund manager wanted to keep this from his people, he'd simply have his air force bomb the libraries. But I'm not yet convinced something isn't up. In related news sure to chap some NYT hide, our New Canaan librarian correspondent informs us of number of copies ordered for the various financial crisis titles: The Sellout/ Charles Gasparino= 16
Source: Dealbreaker | 4 Nov 2009 | 1:57 pm SEC Tackles (Proxy) Voter Fraud
The Republicans have learned to blame poor electoral showings--or, apparently, even strong ones such as yesterday's--on a vast army of illegal immigrants, dead people and welfare queens stuffing the ballot box at the behest of the ghouls at ACORN. For its part, the SEC is taking aim at the evil hedge funds and other speculators that trade those wicked derivatives. SEC Chairman Mary Schapiro, who yesterday sought to put that whole Bernie Madoff thing behind her agency by hiring someone who might actually be able to spot fraud, is turning her attention to proxy contests. While she wants to make it easier for investors to get their director nominees on a company's ballot, she also wants to make sure there's no "early and often" shenanigans.
Source: Dealbreaker | 4 Nov 2009 | 1:41 pm Will financial regulation really help?The House Financial Services Committee started amending the Financial Stability Improvement Act today. But some are left wondering whether anything Congress does will make a real difference. John Dimsdale reports.Source: Marketplace | 4 Nov 2009 | 1:30 pm Asset bubbles could be backCentral banks have taken extraordinary steps to get the global economy going again, but easy money may be creating its own problems. This week, both the World Bank and IMF warned that asset bubbles could be back, particularly in Asia. Steve Henn reports.Source: Marketplace | 4 Nov 2009 | 1:19 pm Atlas Air, PMA Upgraded; Dolby, Edesa Downgraded: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 12:55 pm No New News On Interest Rates, Fed SaysBy Daniel Costello As expected, the Federal Reserve left interest rates near zero this afternoon, announcing that it is keeping its federal funds rate target between zero to 0.25%. The Fed repeated that it "continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period," but added economic activity in key areas such as consumers spending and housing is picking up. Interest rates remain far below historic levels as the effects of the global recession continue to be felt and governments pump unprecendented amounts of money into the financial system. With unemployment still rising and tenuous recent economic growth that isn't likely to change soon. The risk is governments could be creating hard-to-tame inflation or other financial bubbles if they get their remedies wrong and stimulate the economy too much. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Nov 2009 | 12:49 pm Silvia Sees Low Inflation Over Next 6 to 9 Months: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 12:47 pm Moody’s Byrne Says Japan's Savers Support Debt Rating: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 12:45 pm Clifton Sees Health Care Reform Shrinking, Delayed: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 12:43 pm FOMC: Very Little Optimism, Very Little ActionThe Federal Open Market Committee’s notes said that economic activity has picked up since the group’s September meeting, but certainly not enough for the Fed to do anything about it. The FOMC said it will maintain the target range for the federal funds rate at 0 to 1/4 percent, and will purchase a total of $1.25 trillion [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Nov 2009 | 12:26 pm Nomura Banker Not Amused By Being Told She Was Better Suited For Housework, Boss Referring To Her Rack As "Knockers"
Maureen Murphy, 30, alleges that one woman trader had her breasts referred to as "honkers" during a meeting. She also claims that a male colleague at the bank said women "belonged at home cleaning floors".
Source: Dealbreaker | 4 Nov 2009 | 12:18 pm Former HP CEO Carly Fiorina to Run for Senate
Former Hewlett Packard CEO Carly Fiorina announced that she will run for Senate in California today. The Washington Post has more: “Throughout my career I’ve brought people together, and I’ve solved problems,” wrote Fiorina in an editorial in the Orange County Register today. “And that is what is needed in our government today. People who are willing to set aside ego and partisanship and instead work to develop solutions to our problems.” On paper, Fiorina gives Republicans their most serious candidate against Sen. Barbara Boxer since 1998 when then state Treasurer Matt Fong (R) held the Democratic incumbent to 53 percent. As a successful businesswoman, Fiorina presents a significant contrast to Boxer who has been in elected office in California since 1976. And, Fiorina’s personal wealth means that she can fight Boxer dollar for dollar in a state where money (and the television ads it buys) is absolutely critical. Fiorina does start far behind Boxer in the money chase, however, as the Democrat showed more than $6 million on hand at the end of September. One California Republican strategist acknowledged that Fiorina “has a long way to go” in terms of viability but quickly added that her profile, her personal wealth (assuming she spends some of it) and Boxer’s controversial persona means that the Republican will likely stay within shouting distance of the incumbent through next summer and fall. If Fiorina’s HP legacy has any bearing on her ability to be a successful political leader, this doesn’t bode well. That said, many people have become politicians after unusual careers (especially in California). And in politics, dogma and money override past mistakes. It’s not about ability to govern, it’s about the ability to get votes. This will get interesting.
Source: Business Pundit | 4 Nov 2009 | 12:15 pm Markets Thrilled That People Keep Losing Their JobsThe headline in the Financial Times blares, "Job data welcomed as markets await Fed." What job data, you might ask? Well, the great news that another 203,000 Americans lost their jobs last month. Yes, yes, we understand that it's the smallest number of job losses ADP has had to offer in a year-and-a-half. But the report was still a good deal worse than analysts expected. And it certainly offers some indication that the economic recovery--such as it is--hasn't quite trickled down just yet. But wait, there is some more good news from the ADP report: "Employment... is likely to decline for at least a few more months."
Source: Dealbreaker | 4 Nov 2009 | 12:11 pm Examining U of Phoenix recruitmentThe University of Phoenix is fighting a lawsuit claiming it ripped taxpayers off by billions of dollars. Marketplace's Amy Scott and Sharona Coutts of ProPublica get info from a former Phoenix recruiter in the last of a two-part series.Source: Marketplace | 4 Nov 2009 | 12:07 pm Intel faces bribery allegation in NY suitNew York’s attorney-general alleged Intel, the world’s biggest chipmaker, had used ‘bribery and coercion’ to maintain its dominant market position after a nearly two-year investigationSource: Financial Times - US homepage | 4 Nov 2009 | 11:57 am Arizona split on use of impact feesArizona's cities and homebuilders have been slammed by the recession, and both have very different ideas about how money should be raised to keep the state's roads and sewers from crumbling. Peter O'Dowd reports.Source: Marketplace | 4 Nov 2009 | 11:52 am Golden Opportunity?By Daniel Costello Can you talk more about why India would do this? What does it mean? Does this impact Treasury bond sales? Will other nations (BRIC) follow? In short, big gold purchases from India or any other investor, and the resulting rise in the price of gold, could be the beginning of a long-term vote of "no confidence" in the dollar and the U.S. Federal Reserve. It certainly marks the strongest indication yet that some foreign governments are turning away from the U.S. dollar as the world's reserve currency. Gold prices jumped to nearly $1100 an ounce this week and prices are now up 22.7% for the year, headed for a ninth straight annual increase. Like India, central banks and other investors across the globe are increasing their bullion reserves. In the last year, China has increased its gold holdings, by weight, by 75.69%, Russia by 18.78%, the Philippines by 18.50% and Mexico by 108.91%. Historically, U.S. Treasury bills are considered to be one of the world's safest investments. But growing insecurity about the long term health of the U.S. economy and recent weakness in the dollar benefits gold, which is often used as an alternative asset hedge to a depreciating dollar. What if investors are moving away from the dollar for good? Foreigners own a little more than half of publicly-held U.S. government securities, according to the Treasury Department. So if these foreigners - both central banks and private investors - decided to give their Treasury portfolio a heave-ho, it could leave to a devaluation of the greenback and rising interest rates, and the cost of borrowing for consumers and businesses could rise. That would be bad for economic growth. That's not likely to happen soon. But if gold's ascendency is an early sign of the future, it may be time to buckle up. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Nov 2009 | 11:50 am Gold adds lustre to metal pricesSilver, platinum and palladium are among the other precious metals that have made gains on the back of rising gold prices, writes Chris FloodSource: Financial Times - US homepage | 4 Nov 2009 | 11:49 am Avoid bailouts: Restore Glass-SteagallThe five biggest Wall Street banks are raking in huge profits and paying fat salaries with more confidence they'll receive bailouts if they get into trouble. Commentator Robert Reich offers this solution to avoid "too big to fail."Source: Marketplace | 4 Nov 2009 | 11:46 am Eight New Canaanites (And Counting) Want To Know Why 'Mooks Fail'
The New Canaan Library had 16 copies of Charlie Gasparino's book ready to rent yesterday. Half of them are already checked out. He's coming here to speak at the end of the month.
Source: Dealbreaker | 4 Nov 2009 | 11:24 am Cookie Monster Hasn’t Turned into Veggie Monster…But He Does Eat a Balanced DietRumor has it that Cookie Monster is turning into a health-crazed Veggie Monster in an effort to combat childhood obesity. This isn’t the case, but Cookie Monster isn’t quite what he used to be, either. The Big Change in cookie monster actually occurred in 2005, but the rumor has found its way back to the Web. CBS reported the scoop three years ago: My beloved blue, furry monster — who sang “C is for cookie, that’s good enough for me” — is now advocating eating healthy. There’s even a new song — “A Cookie Is a Sometimes Food,” where Cookie Monster learns there are “anytime” foods and “sometimes” foods. “What’s going on with Cookie Monster?” I asked the “Sesame Street” press office. “Why are you doing this?” They sent me to Dr. Rosemarie T. Truglio, the show’s vice president of research and education. She said the show changes every year, focusing not just on teaching numbers and letters but also emotional and physical health. With the rise in childhood obesity, Truglio said “Sesame Street” is concentrating on the need to teach children about healthy foods and physical activity. Truglio said “Sesame Street” also will introduce new characters, such as talking eggplants and carrots, and offer parodies, such as “American Fruit Stand.” Even guest stars will address healthy activities, such as Alicia Keys talking and singing about the importance of physical activity. Even politicians have gotten into the act, filming public service announcements with “Sesame Street” residents. In one taping, Senate Majority Leader Bill Frist taught Elmo to exercise — jumping up and down. In another, Sen. Hillary Clinton and the small red monster discuss the various textures and tastes of foods. “Even Cookie Monster is learning to control his cookie cravings,” Frist told me by e-mail. “His sage advice opened our eyes to the simple joys of a tasty cookie and now reminds us that moderation is the key to healthy living.” “Cookiegate” was just another chapter in a long tradition of social forces intervening in kids’ shows. More recently, Disney recalled Baby Einstein DVDs after consumer groups claimed that exposing kids to TV at an early age hampered play in favor of corporate brainwashing. Sid the Science Kid is now pushing H1N1 flu shots, thanks to a multimillion dollar government PR campaign. The big question is: Does this stuff work? It has to, to some extent. Companies like McDonald’s fatten kids by luring them in with attractive Happy Meals. Surely Cookie Monster and talking vegetables can make healthy food look less nasty to young ‘uns, too. But parents remain the bottom line. Social propoganda campaigns remain peripheral to the lifestyle parents encourage their kids to live. Personally, I’d rather see reams of money being pushed into organizations that promote better parenting. If parents are responsible, TV won’t ever have the final say.
Source: Business Pundit | 4 Nov 2009 | 11:17 am Why India is going heavy on the goldThanks in large part to India's purchase of 200 metric tons of gold yesterday, the precious metal hit a record high. Rico Gagliano explores the pros and cons of the massive sale.Source: Marketplace | 4 Nov 2009 | 11:09 am Casino Denies Man $166 Million Jackpot
Ouch. The Miami New Times has more on the casino that denied the man the winnings stated on the machine: Alas, ’twas not to be. After investigating the win, casino officials told him that the machine had malfunctioned and he wouldn’t be receiving a cent. The maximum jackpot on the machine is a relatively paltry $90,000- and the gambler wouldn’t get that payout either. They even attempted to coerce Seebeck into agreeing to that in writing, but he refused. Update: We just received a statement from Seminole Hard Rock with the news that they’ve reached a “good faith” settlement, for an undisclosed amount, with Seebeck. Something about the way this is worded tells us the gambler remains a non-millionaire- although he might have a couple of thousand bucks to whittle away on more slots: “The Seminole Hard Rock Casino Tampa has made an offer to William Seebeck, and he has accepted, recognizing that the slot machine he was playing on Sunday malfunctioned, in what can be best described to the layman as a “computer glitch.” The maximum payout on the Ultimate Party Spin machine played by Seebeck is $99,000, although his bet of $1.50 at the time of the malfunction could have generated a maximum payout of only $2,500, with the right combination. Determination of a malfunction was made by representatives of the machine’s manufacturer and software provider, according to established gaming industry standards, with confirmation from an independent third-party laboratory analysis. The casino has opted to settle this matter for an undisclosed amount as a good faith gesture, and we look forward to welcoming Mr. Seebeck on future visits.”
Source: Business Pundit | 4 Nov 2009 | 10:37 am New York Sues IntelBy Daniel Costello New York Attorney General Andrew Cuomo filed suit Wednesday againt Intel, the world's largest chipmaker, accusing it of scheming to maintain worldwide monopoly power in the market for microprocessors. Cuomo said Intel violated state and federal antitrust laws by using illegal threats, bullying and coercion to maintain a "stranglehold" on the market for computer chips. New York's top lawyer, and likley gubernatorial candidate next year, said the company has for several years extracted agreements from large computer makers, including Dell and Hewlett-Packard Co for the exclusive use of its microprocessors, in exchange for "billions of dollars" of payments. In a conference call, Cuomo said Intel's "my way or the highway" attitude hurt companies and consumers. "We intend to stop them," he said. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 4 Nov 2009 | 10:33 am Intel’s (INTC) Worst Day: Why Didn’t IBM Rat On Mr. Chips?There may have been a time when Intel (NASDAQ:INTC) wanted to be the next Microsoft (NASDAQ:MSFT), at least in terms of earnings, market cap, and share of market. It has, in essence, followed in Redmond’s footsteps, at least with antitrust authorities. Intel is becoming more embroiled by the month in charges that it used threats and kickbacks [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Nov 2009 | 10:33 am Levitt Says Lobbying Undermines Regulatory Overhaul: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 10:32 am SEC Gets Help To Understand This Whole Hedge Fund Fraud ThingImagine you are the financial services regulator for a really big, rich country. The biggest and richest, even. Now, you are really bad at catching fraud. I mean really, really bad. You can't even do it when a guy is stealing literally billions of dollars and you're looking right at it; you're no good at seeing it even when people tell you where to look. It's just not your strength, which wouldn't be a big deal, except that you are the financial services regulator for a really big, rich country. How to rectify the situation? Hire a guy who's spent a good chunk of his career telling the bad guys how to break the law without you ever being the wiser!
Source: Dealbreaker | 4 Nov 2009 | 10:09 am Bonus Watch '09 (And Beyond): RBS (To Be Paid Entirely In Debt?)From a none too pleased employee of the Queen: RBS in Stamford got the conference call after the "Oh, we're taking more money from the UK government" news yesterday. (No one understood we why needed more money.) Anyway, since in 2008 the bonuses were deferred until June 2010 (and then, only 1/3 was getting paid out, and then, only in paper), now 2009 will not be paid until June 2010 (typically it was March of the following year)...and they are "unsure" if it will be ANY cash at all. It would be paid in RBS debt. Everyone is extremely unhappy.
Source: Dealbreaker | 4 Nov 2009 | 9:52 am Anti-Counterfeiting Trade Agreement Leak: Government Wants ISPs to Deny Service to Some Users
Cory Doctorow posted this frightening bit after looking over a leaked copyright treaty called the Anti-Counterfeiting Trade Agreement (ACTA): Obama’s administration refused to disclose (the full text) due to “national security” concerns. It’s bad. It says: * That ISPs have to proactively police copyright on user-contributed material. This means that it will be impossible to run a service like Flickr or YouTube or Blogger, since hiring enough lawyers to ensure that the mountain of material uploaded every second isn’t infringing will exceed any hope of profitability. * That ISPs have to cut off the Internet access of accused copyright infringers or face liability. This means that your entire family could be denied to the internet — and hence to civic participation, health information, education, communications, and their means of earning a living — if one member is accused of copyright infringement, without access to a trial or counsel. * That the whole world must adopt US-style “notice-and-takedown” rules that require ISPs to remove any material that is accused — again, without evidence or trial — of infringing copyright. This has proved a disaster in the US and other countries, where it provides an easy means of censoring material, just by accusing it of infringing copyright. * Mandatory prohibitions on breaking DRM, even if doing so for a lawful purpose (e.g., to make a work available to disabled people; for archival preservation; because you own the copyrighted work that is locked up with DRM) Find more specific details about the treaty here. I wonder whether this would ever pass in its current form, given that Google and Yahoo own YouTube and Flickr, respectively. The problem appears to be precisely that governments are keeping this agreement secret. The talks were initially focused on stopping counterfeit merchandise, but have expanded to public policy. If you disagree with the direction talks are going (according to the leak), or want governments to stop negotiating this treaty in secret, the EFF has more on what to do.
Source: Business Pundit | 4 Nov 2009 | 9:43 am Johnson Likes Small-Cap, Medium-Cap Stocks: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 9:28 am City Index's Raymond Sees Most Central Banks on Hold: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 9:20 am Taylor Says Gold Has Lost Role as Inflation Hedge: AudioSource: Bloomberg - All Podcasts | 4 Nov 2009 | 9:18 am China current account surplus set to fallChina’s current account surplus will fall by almost half this year, the World Bank predicted in a move that could bolster Beijing’s resistance to US appeals for renminbi appreciationSource: Financial Times - US homepage | 4 Nov 2009 | 8:32 am Morning Report: Good News For Jobs, Gold; Bad News For GermanyBy Daniel Costello Good Morning Planet Money readers. Here are some early highlights from the morning financial news: Good economic news keeps on coming this week. New job losses came in lower last month than expected, bolstering hopes the nascent U.S. economic recovery is for real. Private-sector firms in the U.S. cut 203,000 jobs in October, according to an ADP employment report released this morning. Although this was slightly more than the 190,000 forecast by analysts, it represents the smallest number of job losses for the survey since July 2008. Across the pond, German lawmakers and unions reacted strongly against General Motors' surprise decision late Tuesday to keep car brand Opel and abandon its sale to Canada's Magna and Sberbank of Russia. German labor and government officials strongly favored the sale as the option most likely to save German jobs. German unions have planned protests for tomorrow while Russian prime minister Vladimir Putin said Magna and Sberbank would make a legal analysis of the situation. Media conglomerate Time Warner Inc. followed Viacom's rosy earnings report on Tuesday and reported a 38 % drop in third-quarter profit, hurt by declines at its AOL and publishing segments. The news is likely going to be considered positive by investors as results beat expectations and the company boosted its full-year earnings forecast. The company, which also owns the Warner Bros. movie studio and the HBO and Turner cable networks, said it is still on track to spin off its struggling AOL unit. Meanwhile, gold prices continued their surge , reaching a record on Wednesday, as a weak dollar and India's recent purchase of bullion continued to whet investors' appetite for the precious metal. Gold and other commodity prices have surged recently as investors have moved away from the US dollar.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Nov 2009 | 7:45 am Krinkles…They’ll Give You Nightmares
Source: Business Pundit | 4 Nov 2009 | 4:45 am
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