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E.On lifts annual profit forecastGerman power firm E.On increases its annual profit forecast as it cuts costs and benefits from recent investments.Source: BBC News | Business | World Edition | 11 Nov 2009 | 3:35 am Rise in UK jobless slowingThe UK jobless total rose to 2.46 million in the three months to September, but the increase was the smallest since May 2008.Source: BBC News | Business | World Edition | 11 Nov 2009 | 3:34 am UniCredit profit falls as bad debt charges doubleItalian bank UniCredit on Wednesday reported a 26% drop in third-quarter profit as provisions to cover bad loans roughly doubled. Credit Agricole shares rose as the company's profit beat expectations, and the bank named a new CEO.
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 3:32 am The New Economy: Up 3% From NothingThe CEO of American Express (NYSE:AXP) Kenneth Chenault said that credit card spending by his customer was up 3% in October compared to September and up 1% from October of last year. That is barely a rounding error. Amex shares rose on the news. Fedex (NYSE:FDX) said it expects shipping traffic to move up during the holidays. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 3:24 am China's output, retail sales gather pace in October (AFP)
Source: Yahoo! News: Business | 11 Nov 2009 | 3:23 am Gold hits fresh peak and equities near year highsMarkets overview: Gold hit a fresh peak and European bourses attempted another assault on year-highs after a slip in the dollar to a 15-month troughSource: Financial Times - US homepage | 11 Nov 2009 | 3:19 am Would you donate to Uncle Sam?You've probably heard about the country's giant debt load - $12 trillion and rising.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 3:18 am E.On lifts guidance as third-quarter profit jumpsE.On AG, Germany’s biggest utility, reported a big profit rise for the third quarter after not taking a hit on energy derivatives as the group said its annual profit fall won’t be as steep as previously forecast.
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 3:17 am Toxic loans for sale! Banks eye quick fixFor some banks, trying to get healthy has simply meant getting smaller.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 3:15 am Pre-Budget report date announcedThe pre-Budget report, the last before a general election, will take place on Wednesday 9 December.Source: BBC News | Business | World Edition | 11 Nov 2009 | 3:14 am AIG's Benmosche threatened to leave: report (Reuters)Reuters - Unhappy over constraints imposed by U.S. government overseers, American International Group Inc Chief Executive Robert Benmosche told the company's board last week that he is considering stepping down, the Wall Street Journal said, citing people familiar with the matter.Source: Yahoo! News: Business | 11 Nov 2009 | 3:12 am London stocks rise 0.69% at open (AFP)
Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 3:12 am China to guide yuan with eye on major currencies (Reuters)
Source: Yahoo! News: Business | 11 Nov 2009 | 3:11 am China to guide yuan with eye on major currenciesBEIJING (Reuters) - China said on Wednesday it will consider major currencies in guiding the yuan, suggesting a departure from an effective dollar peg that has been in place since the middle of last year.Source: Reuters: Business News | 11 Nov 2009 | 3:11 am Stocks set to popU.S. stocks looked set to open higher Wednesday, as investor optimism rose on the expectation that interest rates would remain low for some time.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 3:07 am J. Sainsbury profit up 48%, but challenges remainU.K. supermarket group J. Sainsbury reports a 48% jump in first-half profit, helped by tight cost control, but warns economic conditions “remain challenging."
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 3:07 am Stock index futures point to early gains on Wall Street (Reuters)Reuters - Stock index futures pointed to a higher opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.9 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 0.8 percent at 4:54 a.m. EST.Source: Yahoo! News: Business | 11 Nov 2009 | 3:06 am Stock index futures point to early gains on Wall Street(Reuters) - Stock index futures pointed to a higher opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.9 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 0.8 percent at 4:54 a.m. EST.Source: Reuters: Business News | 11 Nov 2009 | 3:06 am Stock index futures point to early gains on Wall Street (Reuters)Reuters - Stock index futures pointed to a higher opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.9 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 0.8 percent at 4:54 a.m. EST.Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 3:06 am Home loans level off, lenders sayThe recent rise in mortgage lending to house buyers has levelled off, the Council of Mortgage Lenders says.Source: BBC News | Business | World Edition | 11 Nov 2009 | 3:06 am NBCU CEO Will Stay On As Will ProblemsNBCU CEO Jeff Zucker was well-educated at Harvard. He is well liked by his managers at GE (NYSE:GE). He is well-regarded within the entertainment history. And, NBCU has done almost nothing to distinguish itself within its industry while he has been at its head. Sources have told Reuters that Zucker will keep his job when Comcast (NASDAQ:CMCSA) buys a majority interest [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 3:01 am Pay caps make it tough to hire execs: GM chairmanSEGUIN, Texas (Reuters) - General Motors Co Chairman Ed Whitacre on Tuesday urged the Obama administration to give the automaker less restrictive pay caps and said it was too early to discuss the timing for the automaker to become a public company again.Source: Reuters: Business News | 11 Nov 2009 | 2:57 am British youth unemployment hits record highBritain's youth unemployment rate reached a record high of almost 20pc as the jobless total continued to increase although at a slower pace.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Nov 2009 | 2:57 am Dodd’s Follies: The Most Complex Financial Regulatory System In The WorldSenator Christopher Dodd put out his draft bill which calls for the most significant overhaul in government financial regulation is over a century. The “Restoring American Financial Stability” document has 1,136 pages, but one of the first major statements in the bill should make the balance of the proposal academic. The new legislation, among other things, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 2:48 am UPS sees 2010 volume growth, higher rates (Reuters)Reuters - United Parcel Service Inc, the world's largest package delivery service, expects growth in its volumes next year as the global economy gradually recovers, its chief said on Wednesday.Source: Yahoo! News: Business | 11 Nov 2009 | 2:44 am UPS sees 2010 volume growth, higher ratesSINGAPORE (Reuters) - United Parcel Service Inc, the world's largest package delivery service, expects growth in its volumes next year as the global economy gradually recovers, its chief said on Wednesday.Source: Reuters: Business News | 11 Nov 2009 | 2:44 am Geithner wants strong dollar, will tackle deficitTOKYO (Reuters) - Treasury Secretary Timothy Geithner said on Wednesday he believes strongly in the need to maintain a strong dollar and said the United States was determined to get its budget deficit down.Source: Reuters: Business News | 11 Nov 2009 | 2:42 am London Markets: Earnings garner mixed reaction in higher FTSE 100International Power and J Sainsbury advance but Reed Elsevier is under pressure in a broadly higher market.
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 2:42 am Recovery hopes rise on surprise unemployment figuresBritish unemployment is rising at a far slower rate than expected, official figures revealed today. Source: Latest Business News from Times Online | 11 Nov 2009 | 2:39 am American says TPG could invest in struggling JALPrivate equity firm TPG Capital could partner with American Airlines to invest in Japan Airlines and prevent a defection to a rival airline alliance, says the chief financial officer of American parent AMR CorpSource: Financial Times - US homepage | 11 Nov 2009 | 2:32 am ING banking, insurance arms return to profitDutch group that has been pressed to split up by European regulators says a rebound in equity markets helped offset further losses on mortgage-linked investments.
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 2:27 am Dollar hits 15-month low, global stocks firm on rate view (Reuters)
Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 2:25 am Make money in 2010: Your savings and creditCredit will stay crunchy, but savers willing to shop can find good deals.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 2:24 am Short Sellers Abandon Financials (WFC)(CIT)(BAC)(JPM)Short sellers have bought into the notion that the financial industry is in full recovery. Shares sold short in Wells Fargo (NYSE:WFC) fell 8% to 78.8 million shares. Shares short in CIT (NYSE:CIT) were off 4% to 78.1 million. The short interest in Bank of America (NYSE:BAC) dropped 12% to 67 million. The short interest in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 2:24 am Reed Elsevier boss resigns after eight monthsReed Elsevier's chief executive, Ian Smith, has quit the publisher by mutual agreement with the Anglo Dutch publisher's board after just eight months in the job. Source: Latest Business News from Times Online | 11 Nov 2009 | 2:20 am Media Digest 11/11/2009 Reuters, WSJ, NY Times, FT, BloombergReuters: Two Bear Stearns hedge fund managers were acquited. Reuters: Zucker, NBCU’s current CEO, will head the company when Comcast (NASDAQ:CMCSA) buys a majority of the company from GE (NYSE:GE). Reuters: Dodd’s super-bank regulator fights a uphil battle in Congress. Reuters: Fed officials see an uneven recovery. Reuters: Google (NASDAQ:GOOG) is working to increase share in China as market leader Baidu (NASDAQ:BIDU) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 2:09 am Out of prison, out of a job, out of luckIf you think it's tough getting a job during a recession, imagine what it's like for an ex-convict.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 2:08 am The Conference Board(R) Spain Business Cycle Indicators(SM)The Conference Board Leading Economic Index(TM) (LEI) For Spain And Related Composite Indexes For September 2009 BRUSSELS, Nov. 11 /PRNewswire/ -- The Conference Board LeadingSource: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 2:00 am Markets make new assault on 2009 peaksThe FT's rolling global market overview 08:30 GMT. Gold hit a new peak and European bourses attempted a fresh assault on yearly highs after a slip in the dollar to a new 15-month trough encouraged traders...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:59 am Too many houses. Nobody home.The lights are on in the housing market. But at more and more places, nobody's home.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 1:58 am London shares head back toward year's highsThe FTSE 100 moved toward its high for the year in opening trade on Wednesday, helped by well-received corporate newsflow. But traders were looking ahead to important inflation and unemployment data due...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:56 am Europe Markets: Fifth rise in six sessions for Europe stocksEuropean shares climbed on Wednesday, as miners got a lift from rising metal futures and results from E.On, Credit Agricole and J Sainsbury also helped sentiment.
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 1:56 am World stocks gain amid positive China, Japan data (AP)
Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 1:53 am National Express launches deeply discounted £360m rights issueNational Express the debtladen rail and bus operator has launched a deeply discounted 7for3 rights issue to raise £360m.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Nov 2009 | 1:51 am Gold rallies to record high as dollar slipsLONDON (Reuters) - Gold shot to a record high on Wednesday as the dollar slipped to its lowest in more than a year and analysts predict further gains for the precious metal on the U.S. unit's persistent weakness.Source: Reuters: Business News | 11 Nov 2009 | 1:49 am Reed chief quits after nine monthsIan Smith has resigned as chief executive of Reed Elsevier, the Anglo-Dutch publishing group, less than nine months after taking over the role.Mr Smith was regarded as an unknown quantity to investors...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:43 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 | 11 Nov 2009 | 1:31 am Asia Markets and Europe Open (11/11/2009)Markets in Asia were mixed The Nikkei rose a fraction to 9,871. Japan Air rose on news it may get government funding. Mitsubishi UFJ (NYSE:MTU) also rose. The Hang Seng was up 1.6% to 22,627. The Shanghai Composite fell .1% to 3,175. At the open in Europe, the FTSE was up .9% to 5,279. The Dax rose .9% to 5,655. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 1:30 am Nikkei flat as yen weighsTOKYO, Nov 11 - Japan's Nikkei stock average was flat on Wednesday as the yen climbed, offsetting a surprisingly large jump in domestic machinery orders for September and a forecast for a rise in the fourth...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:25 am Eon lifts its full-year outlookFRANKFURT, November 11 - Germany's Eon, the world's largest utility, on Wednesday revised its outlook for 2009 earnings upwards for the second time this year.The company now expects adjusted net income...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:12 am Strong sales growth lifts SainsburyJ Sainsbury said on Wednesday that it had increased its first-half pre-tax profit by a third to 342m, citing strong sales growth and tight cost control for the rise.Britain's third-biggest supermarket...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:11 am 'Strong sales' boost Sainsbury'sSupermarket group Sainsbury's says strong sales help it to report a sharp rise in half-year profits to £342m.Source: BBC News | Business | World Edition | 11 Nov 2009 | 1:08 am National Express to raise £360m in rights issueShares in National Express, the bus and rail group, fell 3 per cent today amid concerns about whether the Cosmen family, the group's largest shareholder, would support a planned £360 million rights issue. Source: Latest Business News from Times Online | 11 Nov 2009 | 1:03 am Reed Elsevier boss Ian Smith steps down after less than a year in the jobIan Smith has stepped down as chief executive of Reed Elsevier the publisher of Variety magazine and the New Scientist with immediate effect.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Nov 2009 | 1:00 am Existing-home prices slide in most metropolitan areasThe median sale price in the third quarter is $177,900, down 11.2% from a year ago. Foreclosures and short sales account for nearly a third of all deals. ...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:00 am Sen. Christopher Dodd proposes single watchdog for banksThe Senate Banking Committee chairman's sweeping proposal to toughen oversight of the financial industry complicates White House efforts to get an overhaul passed by year's end.The influential chairman of the Senate Banking Committee, often criticized for being too cozy with Wall Street, unveiled a sweeping new plan Tuesday to toughen oversight of the financial industry -- proposing changes even more dramatic than the Obama administration's at the risk of delaying passage of new rules this year.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Interim Management Professional, Clive Sexton, Discusses the Pros and Cons of Professional EducationLONDON, November 11 /PRNewswire/ -- Does professional education really transform people's careers, or is it simply an expensive diversion from 'real' work?Source: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 1:00 am Former Bear Stearns hedge fund managers acquitted of securities fraudAt the heart of the prosecution's case were the defendants' e-mails, including one that said the subprime market 'looks pretty damn ugly.' But jurors said the evidence wasn't strong enough.The speedy acquittal of two former Wall Street fund managers in the only major criminal case to emerge from the mortgage meltdown and financial crisis is a major blow to federal prosecutors and a setback for the use of e-mail evidence, legal experts say.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Two builders are getting back into housing businessCraig Manchester and Eugene Rosenfeld, who recently agreed to manage a $200-million fund for Oaktree Capital Management, will start making loans for land acquisition and home construction.Two prominent Southern California residential builders plan to jump back into the housing business by making loans for land acquisition and home construction.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Most Wal-Mart stores to stay open overnight on ThanksgivingThe move is a safety precaution aimed at avoiding overcrowding on Black Friday. Last year, a temporary worker was trampled to death.Wal-Mart Stores Inc. will keep most of its U.S. locations open overnight on Thanksgiving to ease the crowding that led to the trampling death of a store employee on Black Friday a year earlier.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am The sad illusion of happy customersRetailers say they want shoppers to be satisfied, but few have the resources to deliver the goods.Customer satisfaction has become such a scarce commodity in the business world, it's now a selling point at a time when companies are increasingly desperate for shoppers' dollars.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Fed officials strike cautious note on economyThree top Federal Reserve officials struck a cautious note on the U.S. economy, citing high unemployment, heavy reliance on government support and commercial real estate woes as hurdles to recovery.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Studios' top negotiator is all earsAs president of the Alliance of Motion Picture and Television Producers, Carol Lombardini says that when it comes to contract talks, 'I'm a good listener at the bargaining table.'Carol Lombardini may have the least glamorous job in Hollywood. As the chief negotiator for the major studios, she must find consensus among a group that often has conflicting interests and priorities.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am For items made in China, a tougher sell overseasU.S. orders have been hurt by the economic crisis, so the Asian nation's manufacturers are targeting emerging markets such as Latin America.With 190,000 foreign buyers roaming 12 million square feet of showroom floor, Sandy Wang hoped there would be plenty of new orders for her company's steel-toe work boots and leather loafers.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Existing-home prices slide in most metropolitan areasThe median sale price in the third quarter is $177,900, down 11.2% from a year ago. Foreclosures and short sales account for nearly a third of all deals.Prices of existing homes fell in 80% of the nation's metropolitan markets in the third quarter as distressed sales -- foreclosures and short sales -- accounted for nearly a third of all deals, a national group said Tuesday.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am Most U.S. stocks retreat as MBIA, Fluor slump on earningsMost U.S. stocks fell following six straight gains for the Standard & Poor's 500 Index as earnings disappointed investors at companies from MBIA Inc. and Fluor Corp. to Electronic Arts Inc.Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:00 am California forced to pay 4% yield in bond saleCalifornia stumbled badly in its latest venture into the municipal bond market -- a sign that investors are overloaded with the state's debt.
Source: L.A. Times - Business | 11 Nov 2009 | 1:00 am The sad illusion of happy customersRetailers say they want shoppers to be satisfied, but few have the resources to deliver the goods. Customer satisfaction...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:00 am Sen. Christopher Dodd proposes single watchdog for banksThe Senate Banking Committee chairman's sweeping proposal to toughen oversight of the financial industry complicates White House efforts to get an overhaul passed by year's end. ...Source: RSS feed - channel BNPaperBusiness | 11 Nov 2009 | 1:00 am Sainsbury profits jump as food promotions attract more recessionhit shoppersSainsbury reported a jump in profits and raised its dividend as food promotions helped attract more recessionhit shoppers in first half.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Nov 2009 | 12:54 am Major power failures hit BrazilBrazil's two largest cities - Rio de Janeiro and Sao Paulo - are hit by major blackouts due to a problem at a massive hydroelectric dam.Source: BBC News | Business | World Edition | 11 Nov 2009 | 12:38 am Taiheiyo Kouhatsu -6-month group forecastCONSOLIDATED EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:31 am Taiheiyo Kouhatsu -2009/10 group forecastCONSOLIDATED EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:31 am Taiheiyo Kouhatsu -6-month parent forecastPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:31 am Taiheiyo Kouhatsu -2009/10 parent forecastPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:31 am Currencies: Dollar edges down vs. yen after Japan dataThe move follows the release of Japanese machinery orders data.
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 12:29 am Cautious Sainsbury's reveals19% profit riseJ Sainsbury, the British supermarket giant, today revealed that cost-cutting and sales growth drove interim profits up 19 per cent to £307 million. Source: Latest Business News from Times Online | 11 Nov 2009 | 12:28 am Mark Hulbert: Small contrast between beaters and laggardsThe stock-market timers who have beaten a buy-and-hold are on balance more bullish right now than the laggards, but Mark Hulbert warns against letting short-term optimism metamorphose into irrational exuberance..
Source: MarketWatch.com - Top Stories | 11 Nov 2009 | 12:24 am TABLE-Katakura -9-mth group results9 months ended 9 months ended Year toSource: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:05 am TABLE-Zeria Pharm -6mth group results6 months ended 6 months ended Full year to Full year endedSource: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:04 am Precision System Science -1qtr group3 months ended 3 months ended 6 months to Year toSource: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:02 am Precision System Science -6-month groupCONSOLIDATED EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 11 Nov 2009 | 12:01 am China economic recovery acceleratesChina’s economic recovery accelerated in October with industrial output increasing at the fastest rate since March of last year and retail sales also growing stronglySource: Financial Times - US homepage | 11 Nov 2009 | 12:01 am Five winning sharesCazenove's Neil Pegrum has identified five companies best placed to prosper in the conditions.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Nov 2009 | 11:57 pm Ex Bear Stearns fund managers Cioffi and Tannin cleared in blow for US governmentCourt clears Ralph Cioffi and Matthew Tannin of fraud in funds that helped trigger financial crisis..Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Nov 2009 | 11:45 pm Dodd seeks more muscle in U.S. financial reformsWASHINGTON (Reuters) - Pushing for tougher changes in U.S. financial regulations, the Senate's top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.Source: Reuters: Business News | 10 Nov 2009 | 11:42 pm China production and retail riseChina's industrial production rises faster than expected and Chinese people are spending more, official statistics indicate.Source: BBC News | Business | World Edition | 10 Nov 2009 | 11:33 pm Bank of England expected to signal interest rates will stay lowThe Bank of England is expected to signal that interest rates will stay near record low levels when it delivers its latest growth and inflation forecasts for the struggling economy.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Nov 2009 | 11:31 pm Oil slides below $79 on mixed China dataSINGAPORE (Reuters) - Oil eased below $79 a barrel on Wednesday, as mildly bearish October loans data from China offset signs of robust industrial output and retail sales from the world's second-largest energy consumer.Source: Reuters: Business News | 10 Nov 2009 | 11:24 pm Oil slides below $79 on mixed China data (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Nov 2009 | 11:24 pm National Business Awards: a full list of the winnersPeter Marks chief executive of the Cooperative Group the farmingtofunerals and supermarket group owned by its customers beat a star studded list of entrepreneurs and business personalities to be named Orange Leader of the Year at the National Business Awards last night.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Nov 2009 | 11:03 pm Economic Report: Chinese industrial output jumps, but loans slumpChina releases a mixed bag of economic data for October, with robust domestic consumption continuing to drive the nation’s economic recovery despite an anemic demand for its exports, but a surprise drop in new loans weighing on banking shares.
Source: MarketWatch.com - Top Stories | 10 Nov 2009 | 10:51 pm NZ market little changed, Fletcher Building fallsThe New Zealand sharemarket is continuing to move sideways, losing a few points today on low volume.The benchmark NZSX-50 index closed down 5.867 points, or 0.185 per cent at 3161.54. It has gained just 17 points since last Friday....Source: nzherald.co.nz - Business | 10 Nov 2009 | 10:48 pm Dollar enjoys bumpy ride, ends little changedThe New Zealand dollar was volatile this afternoon after Chinese financial data was released.The NZ dollar rose to US74.39c around 3pm, before settling at US74.04c at 5pm from US74.06c at the same time yesterday.BNZ currency...Source: nzherald.co.nz - Business | 10 Nov 2009 | 10:27 pm New Zealand News UK paper to closeAn iconic newspaper likely to be familiar to any New Zealander who has lived in London looks to have published for the last time.Targeting ex-pats, the New Zealand News UK has distributed in London and various other parts of Britain...Source: nzherald.co.nz - Business | 10 Nov 2009 | 8:57 pm Fed officials see choppy recovery for U.S. economy (Reuters)Reuters - High unemployment and reluctant consumers will likely make an incipient U.S. economic recovery weak and erratic, top Federal Reserve officials said in a string of speeches across the country on Tuesday.Source: Yahoo! News: Business | 10 Nov 2009 | 7:50 pm Fed officials see choppy recovery for U.S. economyAUSTIN/ATLANTA (Reuters) - High unemployment and reluctant consumers will likely make an incipient U.S. economic recovery weak and erratic, top Federal Reserve officials said in a string of speeches across the country on Tuesday.Source: Reuters: Business News | 10 Nov 2009 | 7:50 pm Consumer confidence drops across TasmanSYDNEY - Consumer confidence had been steadily rising all year in Australia, but it's come down to earth with a bump in the latest survey.Confidence in the economy has fallen after the second consecutive interest rate rise, a...Source: nzherald.co.nz - Business | 10 Nov 2009 | 7:30 pm GE targets security systems for sale to UTCGEis in talks to sell its security systems unit to UTC for more than $1.5bn in yet another effort to reshuffle its sprawling portfolio and raise capital for acquisitionsSource: Financial Times - US homepage | 10 Nov 2009 | 5:31 pm HSBC and Barclays suggest the ‘biggest jolt has passed’HSBC and Barclays, Britain’s biggest banks, reported significant improvements in underlying profits yesterday and gave fresh evidence that the explosion in defaults by business and personal borrowers is beginning to ease. Source: Latest Business News from Times Online | 10 Nov 2009 | 5:01 pm Evolutionary clock is ticking for dinosaur modelFor SAP, the German software colossus, this could be its Motown moment, the instant when the bosses of Ford and General Motors woke up and realised that American families no longer wanted to drive a tank disguised as a shopping trolley. Source: Latest Business News from Times Online | 10 Nov 2009 | 5:01 pm Watchdog warns of $500bn annual cost of delaying action on climate change$The world is facing a bill of $500 billion ($£300 billion) for every year that it delays in reaching a global deal on climate change, the International Energy Agency (IEA) said yesterday. Source: Latest Business News from Times Online | 10 Nov 2009 | 5:01 pm Luella’s fashion business unravels as main backer quitsLuella Bartley, the young British designer whose quirky yet feminine designs have adorned Kate Moss and Lily Allen, has become the latest fashion casualty of the recession. Source: Latest Business News from Times Online | 10 Nov 2009 | 5:01 pm World gas glut will weaken ‘Russian grip on Europe’A looming glut in supplies of natural gas will trigger sliding prices and weaken Russia’s grip over Europe’s energy supplies, the International Energy Agency (IEA) said yesterday. Source: Latest Business News from Times Online | 10 Nov 2009 | 5:01 pm Falling revenue forces Vodafone to extend cost cutsVodafone is to double its cost-cutting plan to save a further £1 billion over the next two years. Source: Latest Business News from Times Online | 10 Nov 2009 | 5:01 pm Bollard slams banks for 'risky mortgage practices'Reserve Bank Governor Alan Bollard has issued a warning to banks about the perils of approving high-risk mortgages.Dr Bollard warned of the need to avoid a return to a "debt-fuelled housing cycle", as the bank published its six-monthly...Source: nzherald.co.nz - Business | 10 Nov 2009 | 5:00 pm Private Share Market May Supplant IPOs (Investor's Business Daily)Investor's Business Daily - Nasdaq OMX, investment banks, venture capital firms and foreign companies are all zeroing in on the 144A market, in which private placements of company shares are sold mainly to institutional investors.Source: Yahoo! News: Stock Markets News | 10 Nov 2009 | 4:53 pm Adobe lays off one in 10 workersUS software company Adobe Systems announces it is cutting 680 jobs, almost one in 10 of its workforce.Source: BBC News | Business | World Edition | 10 Nov 2009 | 4:52 pm Emdeon 3Q loss widens on costs (AP)AP - Emdeon Corp., which provides financial and clinical services to the health care industry, said Tuesday its third-quarter loss widened on higher expenses and a boost in income tax costs.Source: Yahoo! News: Business | 10 Nov 2009 | 4:50 pm Fletcher Building cautious on 2010 outlookFletcher Building is expecting full year net earnings, excluding unusual items, to fall within the range of analysts' forecasts from $261 million to $340m.Chairman Roderick Deane told the company's annual meeting today that net...Source: nzherald.co.nz - Business | 10 Nov 2009 | 4:40 pm US fails to match Mideast rhetoricTop diplomats acknowledge that Washington has failed to make substantial progress on the Arab-Israeli conflict and that Tehran was likely to reject a compromise offerSource: Financial Times - US homepage | 10 Nov 2009 | 4:35 pm Inquiry finds banks failed to pass on cutsA parliamentary banking inquiry by Labour, the Progressives and the Greens found banks did not pass on the full effect of reductions in the official cash rate (OCR) to their customers, Labour finance spokesperson David Cunliffe said...Source: nzherald.co.nz - Business | 10 Nov 2009 | 4:30 pm El Salvador facing food shortageAbout 10,000 people in El Salvador are in need of food aid after devastating floods washed away crops, a UN agency says.Source: BBC News | Business | World Edition | 10 Nov 2009 | 4:17 pm 8 Animals That Ran for GovernmentSome crackpots think the world is controlled by giant lizards, but what they don’t know is that several animals really have tried to be elected to power. Meet the real-life political ‘party animals’… 8. Pigasus the Immortal Boar
Pigasus the Immortal was a boar hog put forward by the Yippies (Youth International Party) in the 1968 US presidential race, named after Pegasus, the winged horse god of Greek mythology. The announcement of Pigasus’ candidacy was made during the heady protests at the 1968 Democratic National Convention. Phil Ochs, Pigasus’ owner, demanded the pig was treated the same as its legitimate rivals and given secret service protection as well as access to foreign policy briefings. Unfortunately, Pigasus’ candidacy was short-lived, for barely had the official introduction at his first press conference begun, when folk-singer Ochs, Stew Albert and several others were arrested by the FBI. The humans were released later that day, but Pigasus’ fate remains unknown – he may have been taken to the Humane Society, or he may have ended up as dinner for the other candidates that evening. 7. Incitatus the Horse
The Roman Emperor Caligula became infamous for a string diabolical acts. Among his best known insanities was disinterring the body of Alexander the Great to steal his breastplate, castrating the gladiator Longinus because he had a longer penis than him, and destroying the kidneys of nobleman Valerius Catullus during an extended erotic session (no questions please). But perhaps one of Caligula’s most well-known acts of madness was his decision to appoint his favourite horse, Incitatus, as a Roman Consul (as such Incitatus didn’t strictly run for government, but we thought him worthy of inclusion on this list anyway). It seems that, unsurprisingly, Incitatus didn’t do a lot with his time in office, but he did appear to have led a fairly cushty life – according to Suetonious he had a stable of marble with an ivory manger, purple blankets, and a collar of precious stones, and others have reported that he was attended by up to eighteen servants and fed oats mixed with gold flake. Caligula even arranged for him to have a beautiful wife-cum-secretary, the finest mare in all of Rome, Penelope. Eat you heart out Bill Clinton! 6. Tai the Poodle
In 1989 residents of the small town of Whangamomona, New Zealand, objected to plans to redraw their county boundaries and declared themselves the Republic of Whangamomona. Their already wacky mandate took a turn for the worse when, in 1999, they elected a goat called Billy Gumboot as their president, setting an insane precedent for animals as their leaders. The 2001 presidential race was won by Tai, a poodle owned by the local hotel’s barman. Tai was known as a great ambassador, frequently sniffing the behinds of other dogs and making them feel welcome in Whangomomona. Unfortunately though, Tai proved that even animals are not exempt from the dirty fighting and underhand tactics that so marks human politics. Enjoying a bone one sunny Sunday afternoon, Tai was the subject of an assasination attempt when he was attacked by a larger dog. And although he survived, like Ronald Reagan, many remarked he was never the same again. 5. Cacareco the Rhinoceros
In 1958 a rhinoceros at Sao Paulo zoo called Cacareco ran as a candidate for the city council elections, protesting against political corruption. Although the establishment did not accept Cacareco’s candidacy, she eventually won over 100,000 votes – many more than any other party in the election. Cacareco’s candidacy was traced back to a group of students who had printed up 200,000 ballots with her name on them, but the ballots were all legitimately cast by voters, one of whom commented: “Better to elect a rhino than an ass.” The director of the zoo commented that he would ask Sao Paulo to pay Cacareco’s Councilman’s salary, however, election officials nullified all her ballots and a new election was held the next week. Cacareco died in 1962, but her legacy lives on through the Canadian Rhinoceros Party, led by the rhinoceros Cornelius the First, and in the phrase ‘voto Cacareco’ (Cacareco vote) which to this day is often used to describe protest votes in Brazil. 4. Molly the Dachshund
This cute dachsund from Oklahoma named Molly was a candidate in the 2008 US presidential race, running under for the mysterious BYOB party. One would assume that the BYOB (Bring Your Own Beer?) party, were not entirely serious, but in reality little is known about Molly or BYOB. What we do know is that, unsurprisingly, she failed to pose a threat to Obama. Perhaps the video below might shed a little light on this underappreciated political candidog… 3. Tião the Chimpanzee
Tião, a chimpanzee with a reputation for being bad tempered, was put forward as a candidate by the Partido Bananista Brasilerio (Brazilian Banana Party) for the position of mayor of Rio de Janiero in 1988. The notion of having an ape run as candidate was intended to highlight the unqualified nature of the other contenders, but popular response surpassed their expectations. Running with the campaign slogan, ‘vote monkey – get monkey’, a reference to getting what you vote for, Tião received over 400,000 votes or almost 10% of the total cast, coming third in the race. Unsurprisingly, the Electoral Tribunal dismissed the election declaring the results null, but the damage was done – in the end a chimpanzee had aped the Brazilian political system. 2. Katten Mickelin the Cat
1. Clay Henry III – Beer Drinking Goat
As the official site for mayor of the town of Lajitas, Texas, states: many towns can claim that their mayor is an old goat, or that he enjoys his beer – but not many can validly claim that their mayor is a beer drinking goat. Literally. Lajitas has that dubious honor. In the original election in the 1980s Clay Henry I defeated a wooden Indian and a local ranch dog called Buster by a landslide and the tradition continues to this day, with Clay Henry III. The town claim the goat is their political pride and joy and on most days can be found holding court at the town Trading Post, usually with a cold beer to hand. Now, we don’t know about you, but giving alcohol to animals was something that stopped being funny at about the age of 12 – bearing that in mind, it doesn’t seem to reflect well on the town that they have created an entire political system and democratic culture out of doing this. Grow up. Images: rachdian, soggydan, azure, wikimedia
Source: Business Pundit | 10 Nov 2009 | 4:16 pm Inside Donald Trump's private jetSource: Business and financial news - CNNMoney.com | 10 Nov 2009 | 4:05 pm Legal fight: Porsche vs. Crocs - huh?Can you tell the difference between a plastic shoe and a luxury sports car?Source: Business and financial news - CNNMoney.com | 10 Nov 2009 | 4:04 pm Accommodation stats improve in SeptemberLatest visitor accommodation figures support indications that the hard-hit tourism industry received some relief in September.Statistics New Zealand (SNZ) figures published today show 2.2 million guest nights in short-term commercial...Source: nzherald.co.nz - Business | 10 Nov 2009 | 4:00 pm Food prices were lower last monthA 1.5 per cent fall in food prices in October compared to September, took the annual rise to just 2 per cent, the smallest annual increase since May 2006.Publishing the food price index for October today, Statistics New Zealand...Source: nzherald.co.nz - Business | 10 Nov 2009 | 4:00 pm Sharemarket slips earlyThe New Zealand sharemarket slipped in early trading after stocks in the United States moved only slightly.Around 10.15am the benchmark NZX-50 index was down 5.31 points to 3162.1, having edged up 2.3 points yesterday.Retailer...Source: nzherald.co.nz - Business | 10 Nov 2009 | 3:50 pm 2 ex-Bear Stearns hedge-fund managers acquitted (AP)
Source: Yahoo! News: Business | 10 Nov 2009 | 3:48 pm Write-Offs: 11.10.09$$$ Boston Provident Trader Ezra Levy Arrested for Theft [Bloomberg] $$$ If We Were Friends With John Paulson [NYM] $$$ Buy some sex toys from this accountant. [GC] $$$ Dennis Berman: A Reason To Pay For Big Banker Bonuses [WSJ] 
 Source: Dealbreaker | 10 Nov 2009 | 3:43 pm Stocks mostly fall after rally as the dollar rises (AP)
Source: Yahoo! News: Stock Markets News | 10 Nov 2009 | 3:42 pm Major Stocks That Have Doubled And Their Future Prospects (F)(AMZN)(AAPL)(WFMI)(MOT)By Douglas A. McIntyre The S&P 500 index is so far having a fine year, up a bit more than 20%. But several big-company stocks in the index have doubled, or better, over that time. Among the best-performers are some of America’s most well-known companies. Here’s a look at 10 of those and their prospects of advancing [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Nov 2009 | 3:37 pm Observer to close down magazinesThe Observer is to close three of its monthly magazines as its owner Guardian Newspapers' battles to reduce £100000 a day losses.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Nov 2009 | 3:35 pm How the major stock indexes fared on Tuesday (AP)AP - Caution returned to the stock market Tuesday as investors decided to slow an advance that has lifted the Dow Jones industrial average 475 points in five days. Stocks mostly fell in light trading, though the Dow tacked on 20 points to close at a new high for the year. The modest advance came a day after the Dow shot up 200 points for the second time in three days.Source: Yahoo! News: Stock Markets News | 10 Nov 2009 | 3:32 pm How the major stock indexes fared on Tuesday (AP)AP - Caution returned to the stock market Tuesday as investors decided to slow an advance that has lifted the Dow Jones industrial average 475 points in five days. Stocks mostly fell in light trading, though the Dow tacked on 20 points to close at a new high for the year. The modest advance came a day after the Dow shot up 200 points for the second time in three days.Source: Yahoo! News: Business | 10 Nov 2009 | 3:32 pm Lancz Recommends Investments, Goss on Sirius XM: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 3:31 pm Bear Stearns ex-managers clearedTwo former Bear Stearns hedge fund managers charged with fraud are found not guilty by a New York jury.Source: BBC News | Business | World Edition | 10 Nov 2009 | 3:30 pm Qatar sells down Volkswagen stakeVolkswagen Europe's biggest carmaker suffered a blow on Tuesday when Qatar's sovereign wealth fund sold half its preference shareholding in the group.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 10 Nov 2009 | 3:23 pm A Morgan Stanley star falls in ChinaSHANGHAI/NEW YORK (Reuters) - In the end, Garth Peterson, a rising star at Morgan Stanley in China, was undone by his pursuit of "guanxi."Source: Reuters: Business News | 10 Nov 2009 | 3:04 pm Former Bear Stearns execs not guiltyTwo former Bear Stearns hedge fund managers were found not guilty on all charges on Tuesday in the first major criminal trial stemming from the housing and financial meltdown.Source: Business and financial news - CNNMoney.com | 10 Nov 2009 | 3:04 pm Goldman chief defends employees’ payGoldman Sachs pays its employees more than other financial groups because its employees are more productive, declared Lloyd Blankfein, chief executiveSource: Financial Times - US homepage | 10 Nov 2009 | 2:52 pm Stock rally stalls but Dow ekes out gain (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Nov 2009 | 2:47 pm Clearwire Shows Earnings & Financing Hand (CLWR, S, CMCSA, TWC, DRWI)Investors are getting a look at why Clearwire Corporation (NASDAQ: CLWR) announced that it was getting new partner financing ahead of its quarterly earnings report. The wireless broadband services provider did show a gain in revenue to $68.8 million, up 13% from the $60.8 million a year ago and up from $63.59 million just in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Nov 2009 | 2:45 pm UK banks split into two tiersHSBC and Barclays provided stark evidence that the UK’s banks have polarised between successful commercial operators and struggling part-nationalised ones, as the country’s two biggest banks reported robust third-quarter resultsSource: Financial Times - US homepage | 10 Nov 2009 | 2:44 pm Celadon Group switches from Nasdaq to NYSE (AP)AP - Shares of trucking services provider Celadon Group Inc. began trading Tuesday on the New York Stock Exchange after the company switched its listing from the Nasdaq stock market.Source: Yahoo! News: Stock Markets News | 10 Nov 2009 | 2:43 pm Ex-Bear Stearns fund chiefs cleared of fraudTwo former Bear Stearns hedge fund managers accused of misleading investors were found innocent of all charges in a blow to the first big effort by US prosecutors to bring a criminal case related to the subprime mortgage meltdownSource: Financial Times - US homepage | 10 Nov 2009 | 2:42 pm Madoff's boogie boards totally for sale dudeSource: Business and financial news - CNNMoney.com | 10 Nov 2009 | 2:37 pm 52-Week High Club (PCLN, TWTC, FOSL)Priceline.com Inc (NASDAQ: PCLN) surged over 20% to a yearly high of $209.19. The global online travel agency rose after the company forcast that 4Q earnings would be at least $1.52 a share, with current analyst estimates resting around $1.49. tw telecom inc. (NASDAQ: TWTC) rose as high as 10% today as it reached a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Nov 2009 | 2:29 pm Presented By:Source: Dealbreaker | 10 Nov 2009 | 2:23 pm Bad Day For British Banks
First, Barclays and HSBC. The former said its third-quarter profit fell by half. Worse, its profit was actually lower than its write-downs and impairment charges, which doubled to £1.4 billion. The latter was a little bit more coy, but the news was worse. HSBC said its third-quarter performance was lower than a year earlier, but didn't specify. It did say it took a US$3.5 billion hit on its own debt; without it, the bank would be doing better than it did in the third quarter last year. But it isn't.
Source: Dealbreaker | 10 Nov 2009 | 2:23 pm Reader Poll: CFAThe ad people who run this asylum would like you to please answer this quick and painful question.
Source: Dealbreaker | 10 Nov 2009 | 2:15 pm Former Bear Hedge Fund Managers Found Not Guilty of Supbrime FraudBy Caitlin Kenney Two former hedge-fund managers have been cleared of charges in the first major case of alleged fraud related to the financial crisis. A jury found that Ralph Cioffi and Matthew Tanin did not lie to investors who lost $1.6 billion in two funds made up of mostly of subprime mortgage-backed securities. The men were facing 20 years in prison if convicted on charges of conspiracy, securities fraud and wire fraud. As the New York Times reported last week, the government's case hinged on statements made by the two men about the health of the funds: The government relies heavily on a private e-mail message from Mr. Tannin to Mr. Cioffi in April 2007, in which he relies on a mortgage model prepared by another Bear Stearns colleague who was not charged in the case. In the message, Mr. Tannin said that if the model was correct, "the whole subprime market is toast" and they should close the funds immediately. Three days earlier, on a conference call with the funds' investors, Mr. Cioffi and Mr. Tannin expressed confidence about the prospects of their investments and said they saw "opportunities" in the market. When an investor asked if any other investors were taking money out of the funds, Mr. Cioffi said there were only a "couple of million" in coming redemptions. The government claims Mr. Cioffi lied at that point because he knew of a pending $57 million withdrawal that had been requested by a big investor, Concord Management. Lawyers for the defendants argued that their clients were expressing "sincere optimism about the future of the funds" and that they failed because lenders stopped extending them credit. As Bloomberg points out, the jury's verdict may make it harder for the Justice Department to prosecute other fraud cases related to the subprime mortgage crisis: "Any time the government undertakes a major prosecution in a new area, the outcome certainly influences its thinking about the prosecutability of other potential defendants," said Jacob Frenkel, a former U.S. Securities and Exchange Commission lawyer now in private practice. "Acquittals force prosecutors to rethink their theories and charges." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Nov 2009 | 2:10 pm Not Guilty!
It took a jury less than two days to exonerate Ralph Cioffi and Matthew Tannin of securities and wire fraud. Cioffi was also accused of insider-trading. The two were accused of lying to investors in their two hedge funds, painting a rosy picture while the bottom fell out of the credit market. Both funds failed, costing investors $1.6 billion. Their victory is a huge defeat for the Justice Dept., serving as something of a test case for similar battles against Wall Street executives.
Source: Dealbreaker | 10 Nov 2009 | 2:04 pm Could AIG Make Good On Its Taxpayer Loan?By Daniel Costello Could troubled insurer American International Group Inc. actually make good on its nearly $80 billion in taxpayer loans? Moody's thinks so. AIG's restructuring plan still relies heavily on government support, of course. But if the company's operations and global financial markets continue to stabilize, it may just be able to generate sufficient value to repay the government in full, Moody's said in a statement late Monday. On Tuesday, AIG shares rose nearly 4%. Is Moody's being a little too optimistic? We'll see. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Nov 2009 | 1:56 pm Goncalves Says Bond Investors Want to Park Cash: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 1:34 pm MIT’s Johnson Says Goldman Sachs Should Be Broken Up: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 1:33 pm Buy Donald Trump's Prehistoric Aircraft
Cityfile reports that you now have the opportunity to sit your ass in the Don's cockpit. Trump put his Boeing 727 up for sale yesterday. No word on the asking price but it'll probably cost you considering that you're getting three bathrooms with "gold plated sinks," "abundant storage for fine china and crystal" and a "circular shower." Make him an offer. Donald Trump Has An Aging Plane To Sell You [Cityfile]
Source: Dealbreaker | 10 Nov 2009 | 1:32 pm Deutsche Bank's Mayer Sees Global Job Creation in 2010: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 1:31 pm Central European Media Raised to `Buy’ at Goldman Sachs: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 1:29 pm Obama has full agenda for China tripDuring his eight-day swing through Asia, President Obama will spend three days with Chinese officials. To get some idea of what might be at the top of the president's list of topics, Kai Ryssdal talked with China scholar Kenneth Lieberthal.Source: Marketplace | 10 Nov 2009 | 1:29 pm Google raises stakes in mobile ad gameGoogle is buying a company called AdMob, which specializes in placing ads on mobile devices. Smart phones and the like are expected to be the new frontier for marketers. With Google in the game, the stakes just got higher. Joel Rose reports.Source: Marketplace | 10 Nov 2009 | 1:29 pm FHA may need a bailout of its ownThe next group in line for a government bailout could be a branch of the government itself. The Federal Housing Administration is said to be running out of money. Jeff Tyler reports on what a broke FHA would mean for the real-estate industry.Source: Marketplace | 10 Nov 2009 | 1:29 pm Dodd's reform bill offers safeguardsSenate Banking Committee Chairman Christopher Dodd has released his 1,136-page reform bill. Among its many proposals are tighter rules on Wall Street and a unified banking regulator. Steve Henn reports.Source: Marketplace | 10 Nov 2009 | 1:28 pm Vanguard Group Gaining Market Share in ETFs: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 1:27 pm Dow's ups and downs fuel fear, anxietyThe Dow has been on a hair-raising ride in the past week, with swings of a couple hundred points up or down. While the blue chips are up 50% from their lows in March, the volatility has made reporter Rico Gagliano anxious. He tells us why.Source: Marketplace | 10 Nov 2009 | 12:38 pm Severance Babies' Steak Dinners About To Run OutSeverance: it's means you got canned but if you got somea that way back, like circa Bear going down, before the next level shit of everyone getting axed, it was safe to assume you a) got a decent amount it and b) weren't looking for a new job in the scariest environment imaginable. So, it was only natural that you didn't freak out or take the first new gig you were offered, whether or not involved standing on a street corner. Also? You probably didn't change your lifestyle much, right? If you answered yes to any of the above, Paul Joegringer knows how you feel: Paul Joegriner hasn't worked since March 2008, when he was laid off from his $200,000-a-year job as chief executive officer of a small bank. But you wouldn't know it by appearances. His wife, Marzena, shuttles their two young children to private school every morning. The family recently vacationed in Virginia Beach, Va., and likes to dine on Porterhouse steaks. Since losing his job, Mr. Joegriner, 44 years old, has had several offers. He's turned each down in hopes of landing a position comparable to what he held before. By Mr. Joegriner's own calculations, the family will be out of money in six months if he doesn't find work. "It will be D-Day," he says. "But on the outside, no one has any idea that we're in trouble." Except for anyone reading the Journal today. Moving on, Chuck Hipsher can also empathize: He met his wife at the ad agency, and the two had a $40,000 wedding. Kelly Hipsher, 32, was laid off in October 2007 and found out she was pregnant in February 2008. A week later, Mr. Hipsher's pink slip followed. Two months after that, the out-of-work couple moved to Greenville, S.C., to be closer to family and get a fresh start. Together, they had received about $60,000 in severance. "Now we have $600 to our name," says Mr. Hipsher. Although their rent was cheaper, Mr. Hipsher says the family continued to spend like before. They moved with three cars -- two BMWs and a Chevy Silverado. They continued to buy cases of $36-a-bottle wine. They spent $250 a month on a cleaning lady, and Mr. Hipsher dropped $50 a week on flowers for his wife. The couple still dined out regularly. As can an asston of other people, apparently:
Source: Dealbreaker | 10 Nov 2009 | 12:23 pm Russia aims to cool rouble passionRussia’s central bank warned investors that rouble appreciation was not a one-way bet as it sought to stem an advance in the currency sparked by rising oil prices and a falling dollarSource: Financial Times - US homepage | 10 Nov 2009 | 12:23 pm Ken Lewis Thinks Ken Lewis Has Done A Great JobI am confident history will show that our actions... in building Bank of America positioned our company for future success. As I look ahead, I see no reason that Bank of America will not be among the handful of the most important and most successful financial-services companies in the world. I can think of 45 billion reasons. Our business model is benefitting from the acquisitions of Countrywide and Merrill Lynch.
Source: Dealbreaker | 10 Nov 2009 | 12:09 pm Nuclear-powered fan of 'cap and trade'John Rowe, CEO of Exelon, the nation's biggest generator of nuclear power, talks with Kai Ryssdal about why he favors part of the Senate's energy bill, and where his industry fits in an era of climate change.Source: Marketplace | 10 Nov 2009 | 11:49 am Dodd Comes Out SwingingBy Daniel Costello The chairman of the Senate Banking committee unveiled a bold proposal this afternoon to overhaul the nation's financial system that would consolidate current regulatory agencies, impose new restraints on exotic financial instruments and establish a new consumer protection agency to rewrite federal rules on credit cards, mortgages and other types of loans. Several of the plan's key proposals contradict reforms President Obama and other members of Congress have proposed in recent months, further complicating chances that a financial regulatory overhaul will be passed by the end of the year. The move, by Sen. Christopher Dodd (D-Conn.), is likely to be stongly opposed by the four main bank regulatory agencies, which would lose power under Dodd's plan. Broad new financial regulations also have been criticized by many Republicans and financial services companies. The Senate plan could potentially have large ramifications for banks deemed "too big to fail." It would first require very large institutions to issue long-term debt that would be available during an economic crisis. The capital would serve as insurance should they need the money at a later date. And in the event of another financial storm similar to last year, the bill would have the government cover the costs of slowly dissolving a large financial institution to blunt the impact on the broader market. The funds would later be paid back from large banks. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 10 Nov 2009 | 11:40 am Tech Titans Still Have $269 Billion Cash For Deals (MSFT, CSCO, AAPL, GOOG, INTC, HPQ, QCOM, EMC, VMW, YHOO, DELL, ORCL, JAVA, AMZN, EBAY)The recovery is on and mergers are happening, yet the technology sector has been slow to make deals. Despite some deals already having taken place from the technology giants and that $260 billion cash balance which was there in the middle of last quarter is even larger now. The tally for cash by our count [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Nov 2009 | 11:07 am 12 Tips for a Fun, Inexpensive Thanksgiving DayThanksgiving can be a pricey affair. From seventy-dollar turkeys to the perfect Napa wine, ingredients for the November feast can put a hole in your careful budget. Luckily, there are ways to avoid Thanksgiving Day megaspend. If you strategize your meal, involve others, and entertain for free, you can host a delicious Thanksgiving Day for as little as $50. The twelve tips below will give you a Thanksgiving Day to remember–without the budgetary complications: Plan it
If possible, make your event a potluck. That way, you only have to worry about the turkey, drinks, and perhaps a side dish. If you’re strapped, have your visitors bring drinks, too. Tip: If a lot of people are coming, an easy way to organize a potluck is to create a list of items guests need to bring. Email out the list. Tell your guests to email you back as soon as they decide what item to bring. This generally leaves the slackers bringing the alcohol, which tends to cost more…but the system works. 2) What can you afford? 3) How much time do you have to prepare? Shop
Get cheaper kinds of foods. 2) Cheap produce still makes tasty side dishes. 4) Clip coupons. If your store doubles or matches other stores’ coupons, all the better. 6) Does anything taste just as good generic? 7) Borrow. Entertain
1) Decorate on the cheap. 2) Find free games. For specific cost-effective recipes, try this website.
Source: Business Pundit | 10 Nov 2009 | 10:56 am Disabled workers have a tougher timeThe mentally disabled want to work as much as anybody does, but jobs for them are even tougher to come by -- especially during a recession. David Martin Davies reports.Source: Marketplace | 10 Nov 2009 | 10:42 am A Reminder From Steve Cohen
Source: Dealbreaker | 10 Nov 2009 | 10:35 am US banks bill seeks to strip Fed of powersAn influential Senate committee has proposed a sweeping overhaul of regulatory architecture that would strip powers from the Fed and create a single banking regulatorSource: Financial Times - US homepage | 10 Nov 2009 | 10:33 am Birinyi Likes Goldman, Sees Risk for Walmart: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 10:21 am Surprise: Burglaries Down Despite DownturnBy Daniel Costello During recessions, crime tends to rise, especially burglaries and other financial-related offenses. In a big surprise, burglaries are down this year as much as 30% in some cities. In Los Angeles, the number of burglaries in the first three quarters of 2009 fell 6% compared with 1% during the same period in 2008. In Phoenix, there were 429 fewer burglaries in the first nine months of 2008 -- and 4,000 fewer in the first nine months of this year. In Boston, the 2,199 burglaries reported in roughly the first nine months of the year is 335 fewer than in the same period last year. In Minneapolis, the number of burglaries reported in roughly the first nine months of the year dropped more than 15 % compared with the same period last year, and more than 25 % compared with that period in 2007. A national total of this year's burglaries will not be available from the FBI until late next year, but anecdotal evidence suggests total buglaries across the country are likely to fall by year's end. The news is encouraging to say the least: the number of victims per thousand households has dropped from just over 100 thirty-five years ago to under 40 last year, according to the Department of Justice. If that trend continues through this recession, it would mean even further impressive gains. It's too soon to know why there's been no new crime way, experts say. Some cities are seeing increases. But experts credit better law enforcement training and larger police forces across the country with the trend. Others have suggested that the unemployed are staying home more these days than past recessions because of the severity of the current recession, leading to less break-ins. Either way, it's a small silver lining to all the bad news these days. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Nov 2009 | 10:11 am Madoff Auction to Sell Rolexes, Fur Coats…and $80 Boogie Boards
This Saturday, you can help avenge some of Bernie Madoff’s victims by purchasing his personal stuff at a government auction. The auction, which will take place in New York, will sell roughly 200 items for an estimated minimum value of $500,000. Proceeds will go towards repaying Madoff victims. The Wall Street Journal has the details: The government has been trying to sell Mr. Madoff’s homes and now will auction some personal effects. Proceeds from the sale of the roughly 200 items will go toward compensating victims. “There’s huge interest” in the Madoff items, said U.S. Marshals spokesman Roland Ubaldo. “I’ve been getting calls from duck-decoy aficionados. People are interested in his fishing rods and his sports memorabilia.” On Saturday prospective buyers can bid live at the New York Sheraton Hotel & Towers, or bid online if they register at the auction house’s Web site by Thursday afternoon. The article lists some of the Madoff items for sale, along with their estimated values: Three Boogie boards with “Madoff” written on them in black marker: $80 White his-and-hers stationery with the names Bernard Madoff and Ruth Madoff printed on it, along with envelopes: $90+ 1960 Hofstra University ring that belonged to Mr. Madoff, engraved with his initials: $300 A pair of Victorian-era diamond earrings: Up to $21,400. More items: The auction promises some unique buys. Where else could you buy three used boogie boards for $80?
Source: Business Pundit | 10 Nov 2009 | 9:57 am Making Companies Responsible For Their Customers' StupidityThe Europeans certainly take antitrust laws a good deal more seriously than the Americans. Oracle and Sun Microsystems are learning this the hard way, as Microsoft did before them. Now, consider Thomson Reuters. Surely, the media and information giant has competitors, like the company named for the guy who just bought himself a third term as New York's mayor. Still, the European Commission has opened an investigation into potentially anticompetitive practices on the part of the company. It seems that the EC doesn't much like that Thomson Reuters doesn't allow its proprietary Reuters Instrument Codes--which identify securities for banking and trading software--to be mapped to other companies' proprietary codes, which do the same thing. And, the EC says in a statement, "without the possibility of such mapping, customers may potentially be 'locked'-in to working with Thomson Reuters because replacing RICs by reconfiguring or by rewriting their software applications can be a long and costly procedure."
Source: Dealbreaker | 10 Nov 2009 | 9:53 am Google Offers Free Wi-Fi at 47 US Airports
Google will offer free Wi-Fi starting today at 47 national airports. The Wi-Fi offer will last until January 15, 2010. PC World has more: The FAA estimates 100 million people will travel back and forth across the country during the holidays, and those hunkered down in airport terminals due to weather delays will likely appreciate the free Wi-Fi. Google has partnered with airports across the country, as well as Time Warner Cable, Boingo Wireless, Advanced Wireless Group and many others to offer Wi-Fi. Because Google’s partners don’t have a presence in all U.S. airports Google’s free Wi-Fi won’t cover everybody traveling this season. Google’s move follows a similar free Wi-Fi offer from Yahoo. On Tuesday, Yahoo announced that it would provide free Wi-Fi for an entire year in New York’s Times Square. * Austin (AUS) * Indianapolis (IND) * Panama City (PFN) Image: Google
Source: Business Pundit | 10 Nov 2009 | 9:11 am Middleton Likes Ralph Lauren, Comcast, Emerson Electric: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 8:32 am Gallo Sees Pound at $1.55 to $1.65 as Dollar Weakens: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 8:31 am Ira Jersey Sees 10-Year Treasury Note Yields at 3%-4%: AudioSource: Bloomberg - All Podcasts | 10 Nov 2009 | 7:56 am Morning Report: New Doubts on Cost of Health Reform; Small Firms Not Hiring YetBy Daniel Costello Good Morning Planet Money Readers: Here are some highlights from the morning's business news. Health economists and some high-profile lawmakers are raising new concerns about the extent of cost-cutting measures in the health bills currently working their way through Congress. At issue: many worry the legislation does too little to clamp down on the current fee-for-service system to pay doctors and hospitals, a main driver of health costs in recent decades. A podcast from last week explores the issue in more depth. It's possible such concerns could sink health reform as the Senate considers the $1.1 trillion health reform bill that passed the Houes last week. Moderate Democrats have been adament that true cost reform must be part of the bill and momentum is building to include new cost reductions - such as fees on expensive health plans and lump-sum provider payments rather than money for each new patient procedure. Most of these cost-cutting ideas are vehemently opposed by medical groups and insurance companies, raising more worries that a stand-off in the Senate could go nowhere in the coming days. Meanwhile, surprising holiday sales are popping up on Wall Street as top-name money managers have begun cutting the lucrative fees they charges investors by as much as half. The reductions are happening mainly among real estate funds, which have been especially battered in the past year. Real-estate private-equity giant Lone Star Funds announced it's reducing fund management fees to buy up to $20 billion of troubled mortgages and other kinds of distressed debt. The fund giant, led by John Grayken, reduced the minimum management fee it will charge two new funds from 0.75% to 0.35%. Another big deal maker, CB Richard Ellis Group Inc. affiliate CBRE Investors, is also reportedly raising new funds and offerering discounts for early investors. And there's more reason to believe the joyless economic U.S. recovery will continue for some time. A new survey of small business owners indicates layoffs are more likely than not in the coming months. The National Federation of Independent Business Index of Small Business Optimism edged up 0.3 of a point in October to a reading 89.1, but the index has been below 90 for six straight quarters. In the 1980-82 recession, by comparison, the index fell below 90 for only one quarter. The main small-business index reached its lowest point in the current downturn in March, when it fell to 81. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Nov 2009 | 7:26 am Heirarchy of Digital Distractions
Source: Business Pundit | 10 Nov 2009 | 4:56 am
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