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G20 summit tries to tackle riftsG20 finance ministers begin their meeting in Scotland, but are faced with divisions over stimulus packages and climate change.Source: BBC News | Business | World Edition | 7 Nov 2009 | 2:35 am Bioton has new CEO, main investor eyes biotechWARSAW, Nov 7 (Reuters) - The Head of Poland's insulin maker Bioton , Janusz Guy, has stepped down and will be replaced by Slawomir Ziegert, the company said in a statement late on Friday.Source: RSS feed - channel BNewsBusiness | 7 Nov 2009 | 2:26 am Glaxo for now Saudi's sole supplier of H1N1 vaccineRIYADH, Nov 7 (Reuters) - British drugmaker GlaxoSmithKline is currently Saudi Arabia's sole supplier of a vaccine for the H1N1 flu virus, the health ministry spokesman said on Saturday.Source: RSS feed - channel BNewsBusiness | 7 Nov 2009 | 1:59 am Unemployment rate rises to 10.2%It's the first time it has hit double digits since 1983. Employers cut 190,000 jobs last month, a bigger drop than expected.The nation's unemployment rate jumped to 10.2% in October, raising questions about the staying power of the budding economic recovery and confronting President Obama with a politically explosive new challenge.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am Price war, no deals barredWal-Mart's rivals fear the chain's power to undercut them, but they have holiday plans of their own.With another tough holiday season looming, Wal-Mart Stores Inc. is ratcheting up a price war that could be good for shoppers but has competitors fearing the worst.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am Why gold is shining brighterThe American public has no say in Federal Reserve policy.Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Windows 7 tops Vista in early consumer sales by more than 200%Aggressive pricing and relatively positive reviews are key factors. However, the discounts and specials may have may have crimped Microsoft's overall revenue from the product. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am CalPERS to consider requiring placement agents to register as lobbyistsAdvocates see the plan as a way to limit political pressure on the pension fund, which some believe may have occurred in dealings with agent Alfred Villalobos. Opponents say it's counterproductive.Highly paid financial intermediaries at the center of a growing uproar over the way California's huge public pension plan invests its money may soon be required to register as government lobbyists and regularly report their fees and clients.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am Beatles catalog is temporarily banned from music website BlueBeatCapitol Records this week filed a suit against BlueBeat, which says that songs produced by digital regeneration are akin to songs performed by cover bands and do not run afoul of copyright law. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Texas is the new retirement meccaThe Lone Star State's attractions include its low cost of living and no income tax.After trying out Pasadena, Atlanta and Miami, Lilian Junco decided this was the place to retire. Being near her son was the first attraction, but soon she was drawn in by the same combination of features that has lured tens of thousands of others from out of state: Gulf Coast living and super-low costs.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am United Commercial Bank is shut down, sold to East West BancorpThis creates by far the largest U.S. bank focused on the Chinese American market and the largest bank based in Southern California. United Commercial was the 120th bank to fail in the U.S. this year. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am FlyMiwok launches private air service in Southern CaliforniaThe company will fly passengers between more than 28 municipal and commercial airports from Santa Barbara south to San Diego and as far east as Las Vegas.The recession continues to pummel the nation's airlines, but that has not stopped a couple of local entrepreneurs from launching an air service for traffic-weary Southern Californians.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am Toyota is sued over concerns of sudden accelerationA lawsuit filed Thursday by two Los Angeles County residents claims that the majority of Toyota and Lexus vehicles made since 2001 contain defective components that can cause unintended acceleration.Two Los Angeles County residents have sued Toyota Motor Corp., alleging that the majority of Toyota and Lexus vehicles made since 2001 contain defective components that can cause unintended acceleration.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am United Commercial Bank is shut down, sold to East West BancorpThis creates by far the largest U.S. bank focused on the Chinese American market and the largest bank based in Southern California. United Commercial was the 120th bank to fail in the U.S. this year.Toppled by loan losses and misstated financial reports, San Francisco's United Commercial Bank was shut down by regulators Friday night and immediately sold to Pasadena's East West Bancorp, creating by far the largest U.S. bank focused on the Chinese American market.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am IPhone sales in China are nothing to call home aboutOnly 5,000 of the Apple phones have sold since the Oct. 30 launch. High prices and a lack of Wi-Fi capability are blamed, especially with a thriving gray market in iPhones. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am IPhone sales in China are nothing to call home aboutOnly 5,000 of the Apple phones have sold since the Oct. 30 launch. High prices and a lack of Wi-Fi capability are blamed, especially with a thriving gray market in iPhones.Apple Inc.'s iPhone has been a ringing success wherever it has been launched. But in China few are picking up the buzz.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am Unemployment rate rises to 10.2%It's the first time it has hit double digits since 1983. Employers cut 190,000 jobs last month, a bigger drop than expected. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Edison International profit falls 8.2% on lower sales, ratesBut at subsidiary Southern California Edison, third-quarter earnings jump 47% on lower expenses and higher customer rates.Edison International, parent of Southern California Edison Co., said Friday that its profit dropped 8.2% in the third quarter as the recession pushed sales down and power rates declined in the Midwestern U.S.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am Texas is the new retirement meccaThe Lone Star State's attractions include its low cost of living and no income tax. After trying out Pasadena,...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Why gold is shining brighterThe American public has no say in Federal Reserve policy.
Source: L.A. Times - Business | 7 Nov 2009 | 1:00 am FlyMiwok launches private air service in Southern CaliforniaThe company will fly passengers between more than 28 municipal and commercial airports from Santa Barbara south to San Diego and as far east as Las Vegas. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Price war, no deals barredWal-Mart's rivals fear the chain's power to undercut them, but they have holiday plans of their own. With another...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Edison International profit falls 8.2% on lower sales, ratesBut at subsidiary Southern California Edison, third-quarter earnings jump 47% on lower expenses and higher customer rates. ...Source: RSS feed - channel BNPaperBusiness | 7 Nov 2009 | 1:00 am Dr Reddy's files for marketing Lipitor genericMUMBAI, Nov 7 (Reuters) - India's Dr Reddy's Laboratories has filed for marketing a generic version of Pfizer's cholesterol-lowering drug Lipitor in the U.S., the company said on Saturday.Source: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 11:36 pm Market Snapshot: U.S. stock market caught by discord about recoveryAnother weeek of rough sailing awaits investors.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 10:30 pm Democrats clear impasse blocking health care voteHouse Democrats have cleared an impasse over abortion that has been holding up a vote on sweeping health care legislation. A vote is expected on Saturday _ after President Barack Obama...Source: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 10:08 pm Bluebeat to battle EMI over Beatles songsUS online music service Bluebeat said it plans to fight British recording label EMI over rights to stream and sell versions of Beatles songs. Bluebeat.com and sister website...Source: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 9:06 pm California bank failure to cost FDIC $1.4 billionSan Francisco-based United Commercial Bank, which received federal bailout funds in 2008, and four other banks are taken over bny regulators on Friday.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 8:59 pm Five more banks fail - 120 for the yearFive banks failed late Friday, bringing the 2009 tally to 120.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 8:43 pm Banks in Ga., Mich., Minn., Mo., Calif. closedRegulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade ofSource: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 8:11 pm Cardiologist and Boston Sci exec Baim dies at 60The family of renowned cardiologist and medical device executive Dr. Donald Baim says he has died following surgery to treat a form of cancer. He was 60. The family's statement said BaimSource: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 7:58 pm Critics take Frank 'too-big-to-fail' bill to taskFrank's legislation creating controversy in House; Dodd about ready to offer competing version in Senate.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 7:01 pm Weekend Investor: Short-term Treasurys the better bet on the FedNot all Treasurys are created equal, and in today's Fed climate short-term bonds are more promising for investors.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 7:01 pm Weekend Edition: Radical fixes for 'too big to fail' gain supportSome of the biggest banks may face mandatory downsizing in an attempt to avoid "too big to fail" scenarios.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 7:01 pm Hollywood's ingenuity on line for the holidaysWith few sequels and remakes on tap, industry is rolling the dice on ingenuity in hopes creativity will bring in the holiday dollars.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 7:01 pm Berkshire Hathaway says 3Q profit triples to $3.2B (AP)
Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 6:31 pm President Obama Signs Unemployment Insurance Extension Act; Contains Important New Tax Benefits; Enrolled Agents Recommend End-of-Year Tax PlanningSACRAMENTO, Calif., Nov. 6 /PRNewswire-USNewswire/ -- As part of the government's efforts to encourage people to spend money to help revive the economy, the House voted...Source: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 6:24 pm Sector Snap: Airline shares riseAirline stocks rose Friday as oil prices tumbled, easing the carriers' fears over jet fuel costs. The broader market also gained, as investors shrugged off another rise in the national...Source: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 6:13 pm Mesa Air says United didn't extend dealMesa Air Group Inc. said Friday that United Airlines did not extend an agreement under which Mesa operated 26 regional jets for the larger carrier. Mesa operates the CRJ-200 aircraft...Source: RSS feed - channel BNewsBusiness | 6 Nov 2009 | 6:10 pm Freddie Mac posts $5 billion lossNEW YORK (Reuters) - Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.Source: Reuters: Business News | 6 Nov 2009 | 5:59 pm Stop the 'jobless recovery' madness!It's time to stop glorifying our economic doldrums with this "jobless recovery" nonsense.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 5:47 pm U.S. regulators close Gateway Bank, Prosperan Bank (Reuters)Reuters - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.Source: Yahoo! News: Business | 6 Nov 2009 | 5:45 pm U.S. regulators close Gateway Bank, Prosperan BankWASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.Source: Reuters: Business News | 6 Nov 2009 | 5:45 pm Unemployment hits 10.2%The nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected as employers continued to trim jobs from payrolls.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 5:41 pm Buffett’s Berkshire Hathaway triples profitWarren Buffett highlighted his rebound from last year’s poor performance as strong stock markets and derivatives gains helped Berkshire Hathaway, his investment vehicle, triple profits in the third quarter to $3.24bn.Source: Financial Times - US homepage | 6 Nov 2009 | 5:37 pm Freddie Mac loses $6.3B in 3Q (AP)
Source: Yahoo! News: Business | 6 Nov 2009 | 5:35 pm Berkshire to borrow billions for Burlington dealBerkshire Hathaway plans to borrow roughly $8 billion to help the company pay for its acquisition of railroad operator Burlington Northern Santa Fe.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 5:06 pm Stocks to Watch: Stocks in focus for MondayShares of Electronic Arts, Fluor, McDermott and MBIA are expected to see active trade.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 5:04 pm Sir Richard Branson hopes as deadline nears for Camelot lottery saleThe owners of Camelot, the National Lottery operator, have given potential bidders for the business about two weeks to table their opening offers. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm Allen & Overy income falls as law firms continue to sufferAllen & Overy reported a 7 per cent fall in half-year revenues yesterday and Clifford Chance said that it was cutting more lawyers as law firms continue to suffer from the economic downturn. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm ‘Teflon Terry’ or not, one thing has certainly stuck — the nicknameLord Burns of Pitshanger in the London Borough of Ealing would not seem out of place in the script for Yes Minister. He has acquired the nickname “Teflon Terry” for his ability to flit, seemingly unaffected, from one sticky situation to another. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm Fry joins the field in ITV raceAnthony Fry, the media banker and deputy chairman of Dairy Crest, emerged last night as a potential candidate for the vacant chairmanship of ITV. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm Threshers pre-Christmas sell-off leads to scrambleThe fuse was lit last night on the biggest high street firesale since the collapse of Woolworths as stock at hundreds of off-licences owned by the Threshers group was put on sale. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm Berkshire Hathaway generates £3.2bn profit for BuffettWarren Buffett, the world’s second-richest man, saw third-quarter profits triple at Berkshire Hathaway, his investment vehicle. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm BA to cut tenth of jobs after losing £292m in disastrous summerBritish Airways plans to cut its workforce by more than a tenth as it struggles with mounting losses. The airline said yesterday that 4,900 jobs would be lost — about 12 per cent of staff — by March. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm US unemployment reaches highest for 26 yearsAmerica’s unemployment rate pushed through the 10 per cent mark in October for the first time in 26 years. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm BA to shed more than one in ten jobs as it slumpsBritish Airways plans to cut more than one in ten of its workforce this year as the airline struggles with mounting losses. BA said on Friday that it would cut 4,900 jobs, about 12 per cent of its staff, by next March. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm Cadbury has support to turn down hostile bidCadbury is expected to rebuff Kraft, its predator, almost immediately if the American food group makes a low-ball hostile bid. Source: Latest Business News from Times Online | 6 Nov 2009 | 5:01 pm Freddie Mac posts $5 billion loss (Reuters)
Source: Yahoo! News: Business | 6 Nov 2009 | 5:00 pm Berkshire says quarterly net profit surgesNet income more than doubles as insurance-focused conglomerate run by Warren Buffett benefited from rebound in the value of its large equity investments and derivatives exposures.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 5:00 pm Stocks eye retailers as jobless ranks swell (Reuters)
Source: Yahoo! News: Business | 6 Nov 2009 | 4:59 pm Stocks eye retailers as jobless ranks swell (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:59 pm Stocks eye retailers as jobless ranks swellNEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.Source: Reuters: Business News | 6 Nov 2009 | 4:59 pm A New Uptrend Could Help Fix Flaws In Chart (Investor's Business Daily)Investor's Business Daily - For the past five sessions, gold-mining stocks have enjoyed a rush.Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:55 pm Art auction lifts hope for industry reboundA recent sale of Impressionist and modern art at Sotheby's auction house exceeded sales estimates and raised the hopes of industry insiders that a rebound is under way.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 4:52 pm Berkshire Hathaway's net income triplesNEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.Source: Reuters: Business News | 6 Nov 2009 | 4:47 pm Berkshire Hathaway's net income triples (Reuters)
Source: Yahoo! News: Business | 6 Nov 2009 | 4:47 pm Berkshire Hathaway's net income triples (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:47 pm Top Ten: MarketWatch's top stories of the week, Nov. 2-6U.S. stocks end the week with solid gains. Investors seem more interested in mergers, better-than-expected retail sales and the Fed leaving rates unchanged than in gloomy news about jobs.
Source: MarketWatch.com - Top Stories | 6 Nov 2009 | 4:47 pm Insider trading net entangles further suspectsInvestigators hope for more charges in what is thought to be a big network of insider schemesSource: Financial Times - US homepage | 6 Nov 2009 | 4:43 pm U.S. closes Home Federal Savings in DetroitWASHINGTON (Reuters) - Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.Source: Reuters: Business News | 6 Nov 2009 | 4:42 pm U.S. closes Home Federal Savings in Detroit (Reuters)Reuters - Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.Source: Yahoo! News: Business | 6 Nov 2009 | 4:42 pm Stocks rise on day, weekStocks ended a volatile session higher Friday, on bets that the unemployment rate's spike to a 26-year high means the worst for the labor market has already happened.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 4:34 pm SEC inquiry could lead to Fla. oversight changes (AP)AP - Two top Florida Democrats want changes to the makeup of the board that oversees Florida's $130 billion investment portfolio now under scrutiny from the U.S. Securities and Exchange Commission.Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:27 pm STR Holdings shares rise in IPO debut (AP)AP - STR Holdings Inc. shares jumped Friday after the solar products company launched its initial public offering, but shares priced below expectations on the New York Stock Exchange.Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:17 pm Presented By:Source: Dealbreaker | 6 Nov 2009 | 4:13 pm Write-Offs: 11.06.09$$$ Want a bailout? There's an app for that. [The Deal] $$$ Stamford police seize $1 million in cash, 37 kilos of cocaine [TA] $$$ Harvard Derivatives Whistleblower: Larry Summers Got Me Fired [BI] $$$ The Reading Habits Of Wall Street CEOs [NYM] $$$ Will an ex-Bear guy win the World Series of Poker? Will Jimmy Cayne be named "Most Improved" at bridge camp? Stay tuned. 
 Source: Dealbreaker | 6 Nov 2009 | 4:13 pm Stocks post modest gains as job losses slow (AP)
Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:10 pm Gold miners pull TSX out of jobs-linked funk (Reuters)Reuters - Toronto's main stock index ended higher for a fourth straight session on Friday as gold miners rallied around record high bullion prices, offsetting the index's fall at the outset on weak jobs data that fueled worry about economic recovery.Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 4:08 pm Gold miners pull TSX out of jobs-linked funk (Reuters)Reuters - Toronto's main stock index ended higher for a fourth straight session on Friday as gold miners rallied around record high bullion prices, offsetting the index's fall at the outset on weak jobs data that fueled worry about economic recovery.Source: Yahoo! News: Business | 6 Nov 2009 | 4:08 pm Sun Micro sales fall, Oracle deal delay stingsNEW YORK (Reuters) - Computer maker Sun Microsystems Inc suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp hurt its business.Source: Reuters: Business News | 6 Nov 2009 | 3:51 pm Defense asks jury to clear ex-hedge fund managers (AP)AP - Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday.Source: Yahoo! News: Business | 6 Nov 2009 | 3:48 pm United Security Of Sparta Georgia Is 116th Bank Failure Of 2009United Security Bank, Sparta, Georgia, was closed by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. The two branches of United Security Bank will reopen during their normal business hours as branches of Ameris Bank. According to the FDIC as of September 14, 2009, United Security Bank had total assets of $157 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 3:35 pm Spallanzani Likes IShares S&P Global Industrials ETF: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 3:32 pm Home For The Holidays: Consumer Credit Falls ApartIt looks more and more like people will not be traveling or shopping this holiday season. The Federal Reserve released its monthly consumer credit report which showed activity decrease at an annual rate of 6 percent in the third quarter of 2009. Total US consumer credit fell $14.8 billlion in September. Of that, revolving credit fell $9.9 billion. The survey [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 3:21 pm Buffett & Berkshire Earn Dough (BRK-A, BRK-B, BNI, MCO)Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) has just reported its Q3-2009 earnings ahead of the formal expectations. This will be perhaps one of the last similar earnings reports with a relative comparisons because of its recent acquisition of Burlington Norther Santa Fe (NYSE: BNI). The ongoing selling of Moody’s Corp. (NYSE: MCO) will be [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 3:10 pm AIG, Magna, Activision Blizzard are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange:Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 3:05 pm Einhorn: CDS Part Of The Communist Conspiracy
In his recent speech to the Value Investing Conference, the Greenlight Capital founder lambasted CDS, blaming them for a whole array of social problems and calling them a slippery slope toward Stalinism. What to do with such a social virus? Stamp it out. "I think that trying to make safer credit-default swaps is like trying to make safer asbestos," Einhorn said. Quite a statement from one of the hedge fund chieftans who earned the ire of many a Wall Street CEO during the height of the financial crisis, in effect agreeing that CDS are un-American.
Source: Dealbreaker | 6 Nov 2009 | 3:03 pm Kraft set for hostile move on CadburyUS group finalising plans to make a direct appeal to the shareholders when a ‘put-up or shut-up’ deadline enforced by the Take-over Panel expiresSource: Financial Times - US homepage | 6 Nov 2009 | 3:01 pm Podcast: Shopping For An MRI
Two facilities down the street from each other -- one charges $800 for an MRI and the other $450. (Miguel Alvarez/AFP/Getty Images) On today's Planet Money: We know how a market is supposed to work. If two stores sell the same product, and one sells it for cheaper than the other, more customers should flock to the first store and put the second store out of business. But if we're learned anything from studying health care, it's that it doesn't always follow the basic rules of economics. To find out why the market works this way, we visited Pensacola, Florida where two health care facilities down the street from each other charge very different prices for MRIs. Hospital administrator, Mike Smith, says that's because it costs a lot more to run his facility than the stand-alone clinic down the street. The people who own that clinic, Sharon and John Sowers, say it's all about numbers. They've got bills to pay and they have no choice but to be efficient. Download the podcast; or subscribe. Music: Passion Pitt's "Swimming In The Flood"." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Nov 2009 | 3:00 pm AIG posts second straight profitNEW YORK (Reuters) - AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.Source: Reuters: Business News | 6 Nov 2009 | 2:53 pm Teens suffer record unemploymentAmericans of all ages are being hurt by the weak job market, but the nation's teens are in a particularly bad spot.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 2:50 pm U.S. jobless rate surges to 10.2 percentWASHINGTON (Reuters) - The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.Source: Reuters: Business News | 6 Nov 2009 | 2:45 pm How the major stock indexes fared on Friday (AP)AP - Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.Source: Yahoo! News: Stock Markets News | 6 Nov 2009 | 2:43 pm Brozak on Swine Flu, Winoker on GE’s Performance: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 2:42 pm Call for calm after US military base killingsBarack Obama cautioned a stunned public against drawing quick conclusions on a shooting rampage by an officer at a Texas military base that killed 13 peopleSource: Financial Times - US homepage | 6 Nov 2009 | 2:34 pm Berkshire Hathaway for $68? Sweet!I don't know about you, but I don't have a spare $101,900 stuffed under my couch cushions to buy an "A" share of Warren Buffett's Berkshire Hathaway. I probably could scrounge together $3,395 for one "B" share, but I would rather not.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 2:32 pm Small Talk: News you haven't heardSay goodbye to the headlines and the top stories. Brendan Newnam and Rico Gagliano find out what news items Marketplace staffers have noticed, but that you've likely not heard.Source: Marketplace | 6 Nov 2009 | 2:31 pm Possible H1N1 Drug Boosts Unprofitable BiotechBy Daniel Costello A possible H1N1 flu virus drug, Peramivir, might also be a life saver for its developer, BioCryst Pharmaceuticals. The Birmingham, Ala.-based biotechnology company has been unprofitable since it was founded in 1986 but has not yet had a drug reach the market. The company's stock has risen nearly 30% in the past week. On Thursday, the federal government ordered, on an emergency basis, 10,000 treatment courses of peramivir for its national stockpile. It is paying $22.5 million, or about $2,250 a patient. Peramivir is an intravenous drug intended to treat the flu in patients who are hospitalized, and too sick to take an oral treatment. The government has authorized use of peramivir as a treatment for the swine flu, but clinical testing is expected to continue until 2011. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Nov 2009 | 2:30 pm EU's daft directive has been rightly dealt another blowLet's face it nice chaps though they are our private equiteers and hedgies don't half go on about the European Union's Alternative Investment Fund Managers AIFM Directive.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 2:27 pm Unlike Rafa Benitez Willie Walsh is using his BA team's wings to full effectShocking results. Fight for survival. Glory years long gone. Right that's enough of Liverpool FC Willie Walsh's team. What about British Airways the company he runs?Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 2:23 pm Amazon shares climb on analyst's sales growth view (AP)AP - Shares of Amazon.com Inc. got a boost Friday after a Bernstein Research analyst upgraded the Seattle-based online retailer, expecting faster revenue growth in 2010.Source: Yahoo! News: Business | 6 Nov 2009 | 2:19 pm RBS: full breakdown of toxic assetsRoyal Bank of Scotland has provided further details of the toxic assets the taxpayer now has to insure under the Government's Asset Protection Scheme.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 2:02 pm Consumer credit decline longest on recordConsumer credit fell in September for the eighth straight month, the longest streak of declines since the Federal Reserve started keeping records in 1943.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 1:56 pm Mama Goffer Threatens To Call The Police (Not On Her Sons)Yesterday was apparently not the first time Emanual Goffer has been accused of wrongdoing in conducting his biz. In 2003 Boston.com outted Emanuel as the owner-operator of a cheat-sheet note system for coeds at Boston University. Goffer's firm, which he called Beantown Notes, operated out of Boston on Beacon Street. The University's lawyer sent a cease and desist order to Goffer's firm, threatening to sue if they didn't shut it down. Goffer conceded, and moved on to bigger and better things, like (allegedly) trading on material non-public information with his brother, Zvi. Speaking of: Dealbreaker, in an attempt to learn more about Team Goffer, reached out to Dalia Goffer, the boy's mother yesterday, and asked if she thought the FBI had arrested the wrong guys. In an email sent late last night she responded:
Source: Dealbreaker | 6 Nov 2009 | 1:50 pm Lachlan Murdoch outmuscles Russell Crowe: Master and Commander star fails to land £12m Sydney houseLachlan Murdoch the eldest son of Rupert Murdoch has paid a record A23m for a home in Sydney after seeing off a host of stars at auction.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 1:50 pm Our National Insurance Company, AIG, Reports So-So EarningsBy Daniel Costello American International Group reported its second consecutive quarter in the black today, as the rallying credit markets boosted the value of assets on its books and the company took full advantage of accounting rules. The nationalized insurer's main problem these days: it's having a hard time selling insurance. The company pointed out continued declines in its sales and premiums at some of its main insurance businesses and said it will take a $5 billion charge against results for the fourth quarter. The stock fell nearly 10% in trading. The government saved AIG last year through a series of bailouts -- worth more than $100 billion -- and owns nearly 80% of the company. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 6 Nov 2009 | 1:38 pm Why did Warren Buffett pay 44bn for a ticket to ride?At 79 Warren Buffett still has the ability to surprise sending shockwaves through the market with his purchase of Burlington Northern Santa Fe.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 1:38 pm Bernstein Sees 11% Unemployment Without Recovery Act: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 1:37 pm Myers Discusses Patentability of Business Methods: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 1:30 pm An unpopular warThis week marks the lowest point yet in Britain’s Afghan campaign. The true test of leadership is to rally the nation at a moment like this. Somehow, Gordon Brown must find a way to do soSource: Financial Times - US homepage | 6 Nov 2009 | 1:28 pm Opel chief leaves following failed dealFRANKFURT (Reuters) - General Motors Co said on Friday the head of its European operations, Carl-Peter Forster, is leaving, three days after the automaker's decision to scrap a planned sale of its Opel unit.Source: Reuters: Business News | 6 Nov 2009 | 1:28 pm FTSE boosted by bluechip dividend hopesHopes that bluechip dividends would increase in 2010 helped the FTSE 100 index close in positive territory on a volatile day of trading.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 1:27 pm $8,000 homebuyers tax credit extendedPresident Obama signed an extension and expansion of the first-time homebuyers tax credit on Friday.Source: Business and financial news - CNNMoney.com | 6 Nov 2009 | 1:24 pm RBS already halfway through £60bn 'buffer'Royal Bank of Scotland has already used up nearly half of the £60bn buffer that protects the British taxpayer from the bank's worst loans.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 1:19 pm EU jobs stakes to dominate Berlin galaEuropean Union leaders will discuss the bloc’s full-time president and foreign policy chief on Monday when they meet in Berlin to celebrate the 20th anniversary of the fall of the Berlin WallSource: Financial Times - US homepage | 6 Nov 2009 | 1:10 pm Liberum's green shootsStrange goings on at Liberum Capital one of the newer investment banks.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 1:07 pm SEC sees evolution in insider tradingNEW YORK (Reuters) - A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s.Source: Reuters: Business News | 6 Nov 2009 | 1:00 pm US jobless rate surges above 10%The unemployment rate shot up to 10.2 per cent in October, its highest level in over 26 years as the economy shed another 190,000 jobsSource: Financial Times - US homepage | 6 Nov 2009 | 12:56 pm Commercial property values prompt fears of a bubbleConcerns that the UK property market is entering a bubble have been exacerbated after new data showed yields have returned to 2006 levels.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 12:56 pm Corporate insolvency rate 'will rise again' warn expertsA slowdown in the rate of business failures is likely to be shortlived economists warned on Friday.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 6 Nov 2009 | 12:53 pm Guy Who Helped Build Citi: My BadJohn Reed, who played kind of a big role in cobbling together the world's largest diversified whorehouse, has something to get off his chest: "I'm sorry," Reed, 70, said in an interview yesterday. "These are people I love and care about. You could imagine emotionally it's not easy to see what's happened." Is he really sorry? Or was this just an attempt to get Vikram to hold him close and insist "it's not your fault" over and over? Unclear (though we wouldn't fault him if it were the latter). In any event, does anyone else have something they want to apologize for today? Related to Citi or not? Throw it out there. We're all listening. Reed Says I'm Sorry For Role In Creating Citigroup [Bloomberg]
Source: Dealbreaker | 6 Nov 2009 | 12:33 pm Windows 7 can't lift PC salesSource: Business and financial news - CNNMoney.com | 6 Nov 2009 | 12:20 pm GM’s Europe chief steps downCarl-Peter Forster, head of General Motors in Europe, is to leave the company just days after the US carmaker decided to hold on to its Opel/Vauxhall operationsSource: Financial Times - US homepage | 6 Nov 2009 | 11:53 am China brands US ‘protectionist’Beijing issues stinging rebuke after Washington slapped anti-dumping duties on $2.6bn of Chinese steel pipe imports.Source: Financial Times - US homepage | 6 Nov 2009 | 11:39 am Motorola (MOT) Droid Visits ManhattanBy Douglas A. McIntyre Some pieces of news are worth mentioning only in passing because they are interesting, but may not mean a thing. CNET says that over 100 people lined up at midnight to be early buyers of the new Motorola (NYSE:MOT) Droid handset at a Verizon (NYSE:VZ) store in Manhattan. The store in Herald [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 11:32 am Treasury seeks RBS lending proofThe Treasury demands proof from bailed-out Royal Bank of Scotland that there is little demand for its business loans.Source: BBC News | Business | World Edition | 6 Nov 2009 | 11:17 am This Week’s LinksMoney hacker: The wealthiest kids in the world (via Wall Street Fighter). The Big Picture has a scary US unemployment map (2004-present). Alice Schroeder analyzes Buffett’s Burlington purchase–and claims he’s not as all-out bullish on the economy as he sounds. EcoSalon has the stories behind ten popular organic brands (eg., which ones are independently run, and which ones are owned by large corporations). Speaking of green…how green is your pet? (New Scientist)
Source: Business Pundit | 6 Nov 2009 | 11:15 am Mass. may opt to pay flat doctors' feesMost U.S. doctors get paid for each test or procedure they perform. But Massachusetts is considering becoming the first state to pay a flat fee for each patient doctors see. Joel Rose reports.Source: Marketplace Money | 6 Nov 2009 | 11:00 am Talking money back at her old schoolTess Vigeland pays a visit to her old high school just outside Portland, Ore., to learn how teachers are now instructing students about money, and why more schools don't provide financial education.Source: Marketplace Money | 6 Nov 2009 | 11:00 am Learn about money at homeDavid Dominguez, a high school senior, says that while kids shouldn't skip out on the "Life Skills" courses at school, learning about money really should start at home.Source: Marketplace Money | 6 Nov 2009 | 11:00 am New GI Bill victim of its own popularityA new GI Bill took effect this summer. In commemoration of Veterans Day this coming week, Tess Vigeland takes a look at the new bill, the thousands of people who are affected by it, and the backlog it has created.Source: Marketplace Money | 6 Nov 2009 | 11:00 am What to do with your credit cardsKen Lin, CEO of CreditKarma.com, talks about how to handle your credit cards, especially now that companies are hiking interest rates, cutting credit lines and imposing new fees.Source: Marketplace Money | 6 Nov 2009 | 11:00 am Finding intimacy in financesMost couples hate to face questions about money. But Jacquette Timmons, author of the book "Financial Intimacy," says sharing money woes can actually be romantic.Source: Marketplace Money | 6 Nov 2009 | 11:00 am Getting PersonalBusiness columnist Sheryl Harris of the Cleveland Plain Dealer helps Tess Vigeland tackle your money questions -- from what should be done with old financial documents to how a college student should handle a billing mix up.Source: Marketplace Money | 6 Nov 2009 | 11:00 am Dad, daughter reflect on money lessonsCurtis Larson and his daughter Erin Anderson look back at the way he let the kids in the family take responsibility for their own money, even if they made mistakes.Source: Marketplace Money | 6 Nov 2009 | 11:00 am Greenlight Capital founder calls for CDS banThe founder of Greenlight Capital is calling for the credit default swap’s abolition, writes Henny SenderSource: Financial Times - US homepage | 6 Nov 2009 | 10:57 am US jobless rate rises to over 10%The US economy lost 190,000 jobs in October, taking the jobless rate above 10% for the first time since 1983.Source: BBC News | Business | World Edition | 6 Nov 2009 | 10:47 am Caption Contest Friday: How Can We Get Back To Here?
Source: Dealbreaker | 6 Nov 2009 | 10:43 am Is Citi’s Primerica IPO For You (C, MS)It has been some time in the making and won’t be the last IPO or divestiture out of Citigroup Inc. (NYSE: C). The company is proceeding to divest its Primerica Inc. via an initial public offering. Some fail to see a strategic fit in the supermarket model as this company sell term-life insurance and other investment [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 10:36 am Aussies top spendersSpending by international visitors in New Zealand increased 1.2 per cent to $6.1 billion in the year to September, Ministry of Tourism data shows."This increase is a good result given the 1.8 per cent decline in international...Source: nzherald.co.nz - Business | 6 Nov 2009 | 10:30 am HBS Grad: The Fewer Harvard Business Alums Out There, The BetterFor the good of the market, encourage your MBA-candidate friends in Cambridge to pursue careers in the cross-dressing and law enforcement fields.
2009 Harvard MBA Indicator Shifts to 'Neutral' [PDF]
Source: Dealbreaker | 6 Nov 2009 | 10:23 am BA to cut 1,200 jobs amid lossesBritish Airways says it will cut its global workforce by an extra 1,200 as it reports a first-half loss for the first time.Source: BBC News | Business | World Edition | 6 Nov 2009 | 10:10 am Tracks hope jockeys can whip up fansHorse racing tracks around the nation have been fighting declining attendance for years. Now they're betting on the little guys to help them launch a comeback. Andrea Gardner reports.Source: Marketplace | 6 Nov 2009 | 10:10 am Oprah deciding about show on her OWNOprah Winfrey reportedly is considering moving her daytime show from broadcast channels to her new cable channel, OWN. The New York Times's Bill Carter discusses with Kai Ryssdal the risks and rewards she faces.Source: Marketplace | 6 Nov 2009 | 10:10 am The Weekly WrapKai Ryssdal talks with Felix Salmon from Reuters and Leigh Gallagher from Fortune magazine to make some sense of the week on Wall Street and beyond.Source: Marketplace | 6 Nov 2009 | 10:09 am Need work? Trying making your own.How do you find a job in today's economy when most companies aren't hiring and few jobs are being created? Commentator Charles Handy says the thing to do is make your own work.Source: Marketplace | 6 Nov 2009 | 10:09 am RBS bank reports losses of £2.2bnRoyal Bank of Scotland announces that it lost £2.2bn in the three months to the end of September.Source: BBC News | Business | World Edition | 6 Nov 2009 | 10:09 am Would Russian bonds be worth the risk?A lot of people lost their shirts 11 years ago when Russia defaulted on its debt. So some eyebrows have been raised by the Russian finance minister's talk of issuing almost $18 billion in bonds next year. Ashley Milne-Tyte reports.Source: Marketplace | 6 Nov 2009 | 10:09 am Every penny counts in online retail warsWal-Mart, Target and Amazon are continuing their online pricing battles. The subject of this week's contest? DVDs. And the back-and-forth is down to the penny. Jeremy Hobson reports.Source: Marketplace | 6 Nov 2009 | 10:09 am Job losses keep going and going . . .Pretty much any way you look at it, we're in the worst job market this country has seen in 26 years. The unemployment rate hit 10.2% in October, and silver linings are hard to find. Steve Henn reports.Source: Marketplace | 6 Nov 2009 | 10:09 am Crescenzi Sees Unemployment Peaking by End of 2009: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 10:06 am Sugar firm to shut pension schemeThe Tate & Lyle sugar company becomes the latest to announce the closure of its final-salary pension scheme.Source: BBC News | Business | World Edition | 6 Nov 2009 | 10:04 am Hewin Sees U.S. Growth Slowing to 2% a Year: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 9:57 am Campbell Says U.S. Stocks' Rising Trend Intact: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 9:56 am Letter: Lobbying Has Changed The Way Doctors Are PaidAndrew W. writes: I am a physician and avid planet money listener. I have been interested in your recent shows covering health care including your recent episode about fee for service medicine. You guys have touched on, but not really fleshed out, an interesting and important consequence of the fee-for-service and RVU system: all of that lobbying you talked about had significant results. Certain types of doctors are now paid vastly more than others. The discrepancies do not correlate with degree of expertise, amount of education/training (which varies for different sub-specialties), complexity of decision making, degree of illness of patients. Rather, it is driven by the fact that 1) certain things are easier than others to measure (ie "procedures" as opposed to decision-making) and 2) certain sub specialties apparently had better lobbyists than others (so a colonoscopy is really well reimbursed while a similar procedure called a bronchoscopy is not). This in practice means that specialties that are procedure-oriented are more lucrative. Hence, a dermatologist can make a ton of money by doing many small biopsies in his or her office every day. These are easy, very low risk, arguably unnecessary in many cases, and quite lucrative. Similarly, other specialties such as radiology (especially interventional radiology), ophthalmology, cardiology (especially electrophysiology and interventional cardiology), and a variety of others are extremely well-paid while others, which are arguably more important to patients-at-large and just as difficult (such as primary care) are generally poorly reimbursed. There are incentives to do procedures and the incentives are largely set by medicare reimbursement levels and therefore political. This system really needs to change to correct these incentives if we want to fix health care. I'm pulmonary/critical care, for the record. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Nov 2009 | 9:54 am Coronado Sees U.S. Growth Slowing to 1.5% in First Half: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 9:52 am Ukraine 'pays Russian gas bill'Ukraine says it has paid its gas bill to Russia, calming fears that Europe may suffer disruptions to gas supplies.Source: BBC News | Business | World Edition | 6 Nov 2009 | 9:37 am Wyss Sees U.S. Unemployment Rising to 10.5% Mid-2010: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 9:30 am Construction sector growsSYDNEY: The Australian construction sector expanded at a modest pace in October, after a rise in building activity and employment levels.The Industry Group/Housing Industry Association Performance of Construction Index grew by...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:30 am Phelps Sees No Keynesian Case Now for Fiscal Stimulus: AudioSource: Bloomberg - All Podcasts | 6 Nov 2009 | 9:28 am MARK YOUR CALENDARS: Charlie Gasparino To Discuss Book In Natural Habitat
From: Strategas Research Partners
Source: Dealbreaker | 6 Nov 2009 | 9:27 am Darling projectG20 finance ministers to pursue banking reformSource: BBC News | Business | World Edition | 6 Nov 2009 | 9:26 am This Week’s Weird Jobs
1. LA: Driver for the BUS (Driver for the BUS) • Location: Driver for the BUS I know that driver for the BUS makes sense in other languages…but in English, it’s just plain funny. Dream job for the right person… could it be you? Description: Well established adult oriented website company looking for someone with a knack for choosing the best adult material. With the training we provide, you’ll be selecting pictures and videos for our sites on a daily basis. So yes, basically you get paid to look at porn, but there’s a lot more to it than you might think. You have to know EXACTLY what to look for. It takes a highly-trained and keen eye to select the proper images for our websites. The difference between picking the right and wrong pictures even one time can mean thousands in additional sales revenues for the company. “Highly-trained,” in this context, means you have watched a lot of porn. Looking For Sales Help For The Upcoming Taboo Naughty But Nice Sex Show. Please note this is an adult oriented show and you must be 18 and over to apply. 4. Canada: Installer for chimney wanted 5. Canada: Love piercings and tattoos??? Looking to hire ENERGETIC, OUTGOING, HARD WORKING, and MOTIVATED sales people!! Christmas is a busy season and we need good sellers!! do you love to work? This is a free standing kiosk in a mall. You need to be comfortable with standing for long periods of time, and not having breaks (although you will be paid for them). please write a little blurb about yourself when applying. What makes you stand out? what weird or cool hobbies do you have?? tell us something that makes you, YOU! You love to work, you don’t get any breaks, you have to stand around in a mall, and you have weird/cool hobbies. Why don’t they just directly ask for teenagers in desperate need of money? Happy Friday!
Source: Business Pundit | 6 Nov 2009 | 9:17 am Banks: your new best friendYou may have noticed the big Australian-owned banks trying to cuddle up to you lately. In one television commercial a big clumsy Westpac guy, prompted by wordless admonitions from a bunch of everyday Kiwis, eventually does the...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Telecom boss surprised NZ has 'money to waste'Telecom's Scottish chief executive, Paul Reynolds, says New Zealand is wasting money on the Government's "fragmented" $1.5 billion fibre-to-the-home broadband plan."As a relative newcomer I am surprised New Zealand has so much...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Clarity of vision marks winnersWhat the three winners of Auckland University's inaugural Entrepreneurs' Challenge have in common is clarity of purpose, says the head of the awards committee.Coffee roaster Allpress Espresso, smart water meter developer Outpost...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Banking on long-term strategyGeorge Kerr, the great-great-grandson of F.H. Pyne, who founded Pyne & Co in 1887, has history with Pyne Gould Corporation.But the decision to pour tens of millions of dollars into the company over the past couple of years has...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Brian Gaynor : Shareholders weakest link in corporate chainA number of recent developments clearly indicate that one of the main reasons for our corporate governance problems is that major shareholders, particularly cornerstone and institutions, are far too passive.As a result the old...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Mary Holm: Desperately seeking advisersQ. On reading your last column, and on previous occasions, I have tried to find a fee-charging independent adviser who does not get paid commission. We are happy to pay a professional hourly rate for a qualified and experienced person...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Chance to share in Kiwi sweet successHamilton product development company BioVittoria will release a prospectus on Monday for a public float of its shares.It's believed the company will look to raise $20 million to commercialise a sweetener extracted from fruit.PureLo,...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am Australian economy's on the rise, says RBASYDNEY: The Reserve Bank of Australia (RBA) has raised its forecasts for economic growth as the local economy benefits from its trade links with Asia, while inflation is expected to moderate following a slowdown in labour costs.In...Source: nzherald.co.nz - Business | 6 Nov 2009 | 9:00 am eBay in Skype deal with founderseBay settles a lawsuit with the founders of Skype, ending uncertainty over the future of the internet phone company.Source: BBC News | Business | World Edition | 6 Nov 2009 | 8:56 am Rapid descentHow did British Airways manage to fall so far?Source: BBC News | Business | World Edition | 6 Nov 2009 | 8:45 am K1's Kiener Seeks Diplomatic Immunity After Getting Caught By JPMorganThe (alleged) fraud at German fund of hedge funds firm K1 Group is an embarrassment of riches for the schadenfreude set. Today, for example, we glean new evidence for two well-established facts--that regulators are simply no good at catching fraud on their own, and that Bear Stearns was a disaster waiting to happen--and learn that diplomatic immunity may apply to trans-Atlantic fraud cases. Let's start there: Helmut Kiener, who has been arrested on suspicion of fraud by German police but not yet charged with anything, wants to get out of jail. But apparently there's only one way to do that at this particular stage in a German legal proceeding, and that's if you are a bonafide diplomat. Now, we have no idea whether Kiener is such a diplomat, or what country or international organization he claims to represent. But we'll find out if the German courts buy it "before next week," according to the prosecutor's office.
Source: Dealbreaker | 6 Nov 2009 | 8:38 am GE No Rescue for Financial Junk Stocks (GE, FNM, FRE, AIG)General Electric Co. (NYSE: GE) may be the one single bright spot taking the market higher this Friday when you consider the 10.2% unemployment rate and when you look over the latest round of earnings. Both Oppenheimer and Bernstein raised their official GE ratings to “Outperform” in research calls this morning. It depends [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 7:57 am Dear Team TudorOctober performance for Tudor's Tensor Fund (does not spell fried chicken): October 2009: (4.32%) YTD: 0.98%
Source: Dealbreaker | 6 Nov 2009 | 7:49 am Morning Report: Unemployment Hits 10.2 PercentBy Caitlin Kenney The unemployment rate has surpassed 10 percent for the first time since 1983 -- reaching 10.2 percent in October. In September, the unemployment rate was 9.8 percent. The high figure surprised everyone including economists and market watchers who didn't expect unemployment to pass 10 percent until the spring. According to the Labor Department, employers cut a total of 190,000 jobs in October. This is the 22nd straight month, the U.S. economy has shed jobs. Nearly 16 million people are still looking for work and of those, 35.6 percent have been the unemployed for six months or longer. President Obama is expected to sign legislation this morning to extend jobless benefits for 14 weeks for people whose benefits are about to expire. In states where the unemployment rate exceeds 8.5 percent, the unemployed will eligible for an additional six weeks on top of the 14. This will be the fourth time jobless benefits have been extended since the recession began. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Nov 2009 | 7:23 am Today’s Best Market Rumors (11/6/2009) (RTP)(BHP)(BRK.A)Updated throughout the day. Citigroup (NYSE:C) will re-launch some of its least successful hedge funds (FT) The stock market is at risk of not holding 10,000. (TheStreet) AIG (NYSE:AIG) will not hold a conference call to avoid uncomfortable questions about its balance sheet (The Deal) Sales of Microsoft (NASDAQ:MSFT) Windows 7 are outpacing those after the launch of Vista (Apple [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 7:17 am Charting the Employment Data: Unemployment At 17.5%Unemployment data were released today, showing the national rate to have reached 10.2% in October, its highest level since April of 1983. This number is the Government’s headline unemployment number, which is formally referred to at U3. There is another number that the Bureau of Labor Statistics puts out each month that has been [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 7:03 am Double-Digit Unemployment… Just How Lagging Is It?The Labor Department has just reported the unemployment rate and non-farm payrolls data for October. It isn’t pretty. The unemployment rate screamed up into the double-digit territory to 10.2%. The non-Farm Payrolls shrank by a reading of -190,000 versus estimates of -175,000 as the consensus figure. There was a gain of 0.3% in Average Hourly Earnings. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 6:40 am Top 10 Analyst Upgrades, Downgrades, Initiations (AMZN, ANSS, BEBE, CAH, CNQ, CROX, GCO, PEET, O, SBUX)These are this morning’s top 10 analyst upgrades, downgrades, and initiations seen from Wall Street research calls: Amazon.com (NASDAQ: AMZN) Raised to Outperform at Bernstein and target raised from $125 to $160. ANSYS (NASDAQ: ANSS) Raised to Buy at Jefferies. bebe Stores (NASDAQ: BEBE) Cut to Hold at Brean Murray. Cardinal Health (NYSE: CAH) Cut to Hold at Jefferies. Canadian [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Nov 2009 | 6:29 am Why Dilbert Tweets
Source: Business Pundit | 6 Nov 2009 | 4:52 am
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