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Oil rise 'could derail recovery'The International Energy Agency says that if the recent rise in oil prices continues it "risks derailing the recovery".Source: BBC News | Business | World Edition | 12 Nov 2009 | 3:36 am The Foreclosure Rate AbatesForeclosure rates may have leveled off, but it would be a mistake to count on that being a long-term trend. New data from RealtyTrac shows foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 332,292 U.S. properties during the month, a decrease of 3% from the previous month but still up nearly 19% [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Nov 2009 | 3:33 am US envoy opposes Afghan troop surgeThe US ambassador to Kabul warns in diplomatic cables against any further build-up of American forces in the country, US media report, advice that sets him at odds with Stanley McChrystal, the commander of US and Nato forces in AfghanistanSource: Financial Times - US homepage | 12 Nov 2009 | 3:28 am Best investment mix for your 401(k)Question: I've got many investing options in my 401(k) -- small caps, large stocks, emerging markets, fixed-income, etc. What would be the ideal portfolio for me considering that I'm 51 and plan to retire at 65? --D.D., Anaheim, Calif.Source: Business and financial news - CNNMoney.com | 12 Nov 2009 | 3:23 am Small rise in home repossessionsThe number of homes repossessed in the July to September period rose 3% to 11,700, mortgage lenders say.Source: BBC News | Business | World Edition | 12 Nov 2009 | 3:21 am BT pension deficit rises sharplyTelecoms group BT reveals that its final-salary pension scheme deficit has more than doubled to £9.3bn in the past six months.Source: BBC News | Business | World Edition | 12 Nov 2009 | 3:17 am Stocks seen pulling backU.S. stock futures fell Thursday as investors eyed a light economic calendar and awaited Wal-Mart's results.Source: Business and financial news - CNNMoney.com | 12 Nov 2009 | 3:17 am German solar shares fall after weak resultsShares of German solar companies fell on Thursday after they released disappointing third-quarter results, as sharp declines in module prices hurt their performance.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 3:14 am Shipping firms lead Tokyo lower; Sydney offAsian bourses give up some of their recent gains, with shipping companies leading Japanese shares down.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 3:13 am Gold marches to new high as stocks pause for breathMarkets Overview: Bullion marched to a fresh peak but Asian and European stocks paused for breath after Wall Street finished well off its highsSource: Financial Times - US homepage | 12 Nov 2009 | 3:10 am APEC ministers endorse "market-oriented" currencies (Reuters)
Source: Yahoo! News: Business | 12 Nov 2009 | 3:09 am VW Passes Toyota (TM) And GM As World’s Largest Car CompanyToyota (NYSE:TM) did not keep its top spot as the world’s largest car company for very long. It held the crown for about a year. Industry statistics show the new VW-Porsche combination has produced 4.4 million cars this year compared to only 4 million by Toyota. According to The Guardian, Toyota’s cut in production helped VW take [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Nov 2009 | 3:04 am Executive pay on Wall Street is too high, says Bill GatesMicrosoft chairman Bill Gates says that the recent explosion in Wall Street pay can be traced to a 1993 law.Source: BBC News | Business | World Edition | 12 Nov 2009 | 3:00 am MarketWatch First Take: What an obscure Dutch firm says about oil marketOil-storage company Vopak raises earnings guidance citing strong demand.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 2:59 am The threat of nuclear meltdownAt a nuclear power plant in Texas, two men dressed in combat gear are perched atop a steel-framed watchtower armed with assault rifles, firing on both moving and stationary targets some 300 years away.Source: Business and financial news - CNNMoney.com | 12 Nov 2009 | 2:54 am Stock futures signal dip on Wall Street (Reuters)
Source: Yahoo! News: Stock Markets News | 12 Nov 2009 | 2:53 am Stock futures signal dip on Wall Street (Reuters)
Source: Yahoo! News: Business | 12 Nov 2009 | 2:53 am Stock futures signal dip on Wall Street(Reuters) - Stock index futures pointed to a dip on Wall Street on Thursday, after the Dow and Standard & Poor's 500 closed at 13-month high in the previous session and as investors braced for earnings from retail mammoth Wal-Mart .Source: Reuters: Business News | 12 Nov 2009 | 2:53 am London Markets: BT Group shares shine in mildly lower FTSE 100Investors welcome forecast-beating earnings from the telecom.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 2:52 am Stimulus: Is $787 billion not enough?The U.S. economy seems to be on the mend, but some economists are arguing that another round of stimulus is needed to keep the recovery on track.Source: Business and financial news - CNNMoney.com | 12 Nov 2009 | 2:50 am The Council of Mortgage Lenders has cut its repossessions forecast by 35pc to 48000The CML has cut its forecast for the number of repossessions this year to 48000 from 75000.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 2:38 am UPDATE 3-TeliaSonera, Alfa to merge MegaFon, Turkcell stakesSTOCKHOLM, Nov 12 (Reuters) - TeliaSonera and Alfa Group are to combine their holdings in two mobile operators, bringing closer a possible end to a dispute over ownership of Turkcell , Turkey's biggest...Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:38 am GM refused bailout funds from GermanyGeneral Motors (GM) has been warned by the German Government it will need to raise the money itself to refinance Opel after the US car group scrapped plans for a sale of its European business to Magna, the Canadian car parts maker and Russia's Sberbank Source: Latest Business News from Times Online | 12 Nov 2009 | 2:37 am CNOOC shuts oilfields in Bohai Bay on strong windsBEIJING, Nov 12 (Reuters) - China's offshore oil and gas specialist CNOOC Ltd has shut down operations at the BZ25-1 south oilfields from Nov. 10, affected by strong winds in the Bohai Bay area, the company...Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:33 am APEC ministers back "market-oriented exchange rates"SINGAPORE (Reuters) - Pacific rim finance ministers agreed on Thursday to undertake monetary policies based on "market-oriented exchange rates" that reflect underlying economic fundamentals.Source: Reuters: Business News | 12 Nov 2009 | 2:33 am Daiya Tsusho -6-month parent forecastPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:30 am TABLE-Daiya Tsusho -6mth parent results6 months ended 6 months ended Full year to Full year endedSource: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:30 am Norway 2010 oil/gas investments seen falling-lobbyOSLO, Nov 12 (Reuters) - Investment spending by Norway's oil and gas industry should fall to some 118 billion Norwegian crowns ($21.11 billion) next year, a lobby group estimated on Thursday.Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:28 am Telefonica profit falls 0.6% as Europe dragsTelefonica SA, Europe’s second-largest phone company, on Thursday reported a 0.6% fall in profit in the third quarter, with weakness continuing in European markets on back of the global economic recession.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 2:24 am Trinity Mirror advertising revenue fall slows to 20% dropTrinity Mirror, the newspaper group, said today that the rate of decline in advertising revenues is beginning to slow, following a 25 per cent drop for the year to date. Source: Latest Business News from Times Online | 12 Nov 2009 | 2:20 am Telekom Austria cuts outlook on Q3 net loss* Q3 net loss 136 mln eur vs poll avg net profit 132 mln eurSource: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:16 am BT lifts revenue outlook, reports 13% profit riseThe U.K. telecom steps up its cost-cutting plans.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 2:14 am UPDATE 2-Telefonica net meets f'casts, Spain improvesMADRID, Nov 12 (Reuters) - Strength in emerging Latin America and cost-cutting helped Telefonica present flat nine-month profit on Thursday, and the telecoms group said its recession-hit Spanish business...Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:07 am Asia markets slip as rally peters out; Europe flat (AP)
Source: Yahoo! News: Stock Markets News | 12 Nov 2009 | 2:06 am Europe Markets: European shares hold around three-week highsEuropean shares traded around three-week highs on Thursday, with the broader market stuck in a tight range while BT Group and insurer Aegon were active after a slew of corporate updates.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 2:02 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 | 12 Nov 2009 | 2:01 am India OKs extra investment by ONGC in Brazil assetNEW DELHI, Nov 12 (Reuters) - India's cabinet on Thursday approved additional investment of $70 million by the overseas arm of state-run Oil and Natural Gas Corp in its offshore block in Brazil, the government...Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 2:00 am Media Digest 11/12/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: China is the key stop on Obama’s tour of Asia. Reuters: South Korea’s businesses may start to feel more pressure from China competitors.. Reuters: Hewlett-Packard (NYSE:HPQ) bought 3Com (NYSE:COM) for $3.1 billion. Reuters: Lou Dobbs left CNN (NYSE:TWX) Reuters: The US may cut the deficit with unused TARP funds. Reuters: Motorola (NYSE:MOT) may sell its home and networks operations [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Nov 2009 | 2:00 am GM brings back the Buick RegalGeneral Motors will bring back the Regal name on a new Buick car set to be unveiled at the Los Angeles Auto Show next month.Source: Business and financial news - CNNMoney.com | 12 Nov 2009 | 1:59 am China extends Rio Tinto spying investigationChina has extended an investigation of detained Rio Tinto mining executive Stern Hu by two months Australian officials said Thursday calling for a quick resolution to the longrunning case.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 1:53 am Foreclosures: 'Tide may be turning'Could the foreclosure plague be ending?Source: Business and financial news - CNNMoney.com | 12 Nov 2009 | 1:48 am Thousands shun colour televisionAlmost 30,000 people across the UK still tune into their favourite programmes on black and white television sets.Source: BBC News | Business | World Edition | 12 Nov 2009 | 1:48 am FTSE 100 stable at open (AFP)
Source: Yahoo! News: Stock Markets News | 12 Nov 2009 | 1:44 am UPDATE 2-Cellphone market fall ended in Q3 -Gartner* Global cellphone sales to consumers grew 0.1 pct y/y in Q3 * raises 2009 market view to flat y/y from 4 pct fall * says grey market volumes at 150 mln phones * sees 2010 volumes rising 5-8 pct...Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 1:43 am Latin America boosts TelefonicaSpanish mobile firm Telefonica, owner of the O2 mobile brand, sees profits rise thanks to a strong performance in Latin America.Source: BBC News | Business | World Edition | 12 Nov 2009 | 1:38 am UPDATE 2-TeliaSonera, Alfa to merge MegaFon, Turkcell stakesSTOCKHOLM, Nov 12 (Reuters) - TeliaSonera and Alfa Group are to combine their holdings in two mobile operators, bringing closer a possible end to a dispute over ownership of Turkcell , Turkey's biggest...Source: RSS feed - channel BNewsBusiness | 12 Nov 2009 | 1:36 am Asia Markets And Europe Open (11/12/2009)Markets in Asia were moderately lower. The Nikkei fell .7% to 9,804. Honda (NYSE:HMC) rose. The Hang Seng fell 1% to 22,402. HSBC (NYSE:HBC) dropped. The Shanghai Composite fell .1% to 3,173. At the open in Europe, the FTSE lost .1% to 5,263. The Dax dropped .2% to 5,656. The CAC 40 fell .2% to 3,806. Data from MarketWatch and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Nov 2009 | 1:24 am BT lifts costcutting by £500m as profits fallBritain's former phone monopoly has increased its target for cost cuts by at least another £500m.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 1:16 am HP to buy 3Com for $3.1 billionNEW YORK/SAN FRANCISCO (Reuters) - Hewlett-Packard Co is making a move into the network equipment market by striking a $3.1 billion deal for 3Com Corp, in a major challenge to Cisco Systems Inc.Source: Reuters: Business News | 12 Nov 2009 | 1:11 am Rich Ross restructures Walt Disney StudiosThe new chairman's moves reflect his focus on cultivating entertainment franchises and finding fresh ways to reach audiences through technology.Just a month after being named chairman of Walt Disney Studios, Rich Ross has carried out a broad restructuring of marketing, distribution and operations to reflect a focus on cultivating entertainment franchises -- and finding new ways to reach audiences through technology.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am CalPERS official urges new state law to change how placement agents are paidThe proposed legislation would keep the financial middlemen from being paid multimillion-dollar contingency fees. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Boeing expected to end stake in rocket firm Sea LaunchLong Beach-based Sea Launch says it expects the aerospace giant's ownership role to end after the smaller company emerges from bankruptcy. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am CalPERS probes loan to build deal maker's mansionDocuments show Alfred Villalobos received a loan through a partnership set up by CIM, a Hollywood real estate developer into which he helped steer millions of the pension fund's dollars. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Restaurant chains can go lean on nutrition detailsCalifornia laws give them flexibility on how much information to share with diners and where to post it. But starting in 2011, chains will have to include calorie counts on their menus. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Boeing expected to end stake in rocket firm Sea LaunchLong Beach-based Sea Launch says it expects the aerospace giant's ownership role to end after the smaller company emerges from bankruptcy.After struggling for nearly 15 years to prop up an unusual way to launch satellites into space, Boeing Co. is expected to throw in the towel and walk away from its stake in Long Beach-based Sea Launch Co.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Churchill Downs to buy Youbet.comThe $127-million cash-and-stock deal for the Burbank firm will give owner of the Kentucky Derby's home about half the online horse-betting market.Churchill Downs Inc. has agreed to buy Youbet.com Inc. of Burbank in a deal valued at about $127 million. The deal will give Churchill Downs about half the $1.4-billion online horse-betting market. The company, which owns the track where the Kentucky Derby is held, already owns another major site, TwinSpires.com.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Hewlett-Packard is buying 3Com; firm raises 2010 earnings guidanceThe personal computer maker will pay $2.7 billion for the networking company. It also announces quarterly earnings that beat analysts' expectations.Hewlett-Packard Co. said Wednesday that it was buying networking company 3Com Corp. for $2.7 billion, the latest move by the world's No. 1 personal computer maker to expand into more profitable areas than PCs.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am The Golden State of Fender guitarsThe high-end guitar maker is weathering the rough economic times in Corona. 'California is hewn into Fender's DNA,' says an official with the company, whose fans keep the passion alive.The sound of California business success came to my ears the moment I stepped through the door of Fender Musical Instruments Corp. 's 3-acre manufacturing plant in Corona.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Macy's loss narrows to $35 million in latest quarterThe department store chain also predicts that it will earn less during the holidays and the full year than Wall Street analysts had expected. Its shares fall 8%. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Macy's loss narrows to $35 million in latest quarterThe department store chain also predicts that it will earn less during the holidays and the full year than Wall Street analysts had expected. Its shares fall 8%.As it heads into the crucial holiday season, Macy's Inc. may be on shakier ground than some thought.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Restaurant chains can go lean on nutrition detailsCalifornia laws give them flexibility on how much information to share with diners and where to post it. But starting in 2011, chains will have to include calorie counts on their menus.Diners at California Pizza Kitchen last week found some enticing new offerings such as white chocolate strawberry cheesecake, Baja-style tacos with sautéed mahi-mahi, and a Moroccan-spiced chicken breast salad.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am CalPERS probes loan to build deal maker's mansionDocuments show Alfred Villalobos received a loan through a partnership set up by CIM, a Hollywood real estate developer into which he helped steer millions of the pension fund's dollars.With the fortune he has made using his connections with public pension funds, it's hardly a surprise that Alfred J.R. Villalobos owns a sprawling, 9,100-square-foot home overlooking the emerald-blue waters of Lake Tahoe.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Rich Ross restructures Walt Disney StudiosThe new chairman's moves reflect his focus on cultivating entertainment franchises and finding fresh ways to reach audiences through technology. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Churchill Downs to buy Youbet.comThe $127-million cash-and-stock deal for the Burbank firm will give owner of the Kentucky Derby's home about half the online horse-betting market. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Current TV to shift from video formatAfter years of trying to establish itself as a channel by and for youths, the cable network is canceling three shows and letting go 80 employees as it moves toward more traditional programming.When Al Gore unveiled his youth-oriented cable TV network, he said his ambition was to connect "the Internet generation with television" by creating a channel that would be made up mostly of short-form content supplied by its audience.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Current TV to shift from video formatAfter years of trying to establish itself as a channel by and for youths, the cable network is canceling three shows and letting go 80 employees as it moves toward more traditional programming. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am CalPERS official urges new state law to change how placement agents are paidThe proposed legislation would keep the financial middlemen from being paid multimillion-dollar contingency fees.The board president of the California Public Employees' Retirement System wants fellow board members to get behind efforts to better regulate the financial intermediaries who are paid millions by private equity firms to help them get big pension fund investments.
Source: L.A. Times - Business | 12 Nov 2009 | 1:00 am Hewlett-Packard is buying 3Com; firm raises 2010 earnings guidanceThe personal computer maker will pay $2.7 billion for the networking company. It also announces quarterly earnings that beat analysts' expectations. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am Treasury Secretary Timothy Geithner pays lip service to keeping dollar strongThe Obama administration may prefer a weaker currency because it's a boon to U.S. exporters, but no one is going to say so for fear of waving a red flag at markets. ...Source: RSS feed - channel BNPaperBusiness | 12 Nov 2009 | 1:00 am David Callaway: Retail stocks forecast holiday miracleTwo weeks from today, Santa Claus will make his first appearance of the year in New York City, reminding us that Christmas is the season of miracles. And at least according to retail stocks, the holiday shopping season could be in for one itself.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 12:59 am Taiwan faces tough choices in Chinese tradeAs Taiwan grapples with an economic slowdown, a new administration is pursuing unprecedented trade deals with arch-rival mainland China, a move necessary for Taiwan's future but also placing its current de-facto independence in jeopardy.
Source: MarketWatch.com - Top Stories | 12 Nov 2009 | 12:52 am OFT to investigate the high cost of going bustThe cost of going bankrupt in Britain is too high, the Office of Fair Trading (OFT) said today as it launched a sweeping review of Britain’s corporate insolvency market. Source: Latest Business News from Times Online | 12 Nov 2009 | 12:48 am Andy Warhol's 200 One Dollar Bills silkscreen sold for 43.8mAn Andy Warhol silkscreen of dollar bills sold at Sotheby's in New York for 43.8m £26m after a dramatic bidding war.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 12:42 am Can equity income funds comeback?Equity income funds have been disappointing despite the stellar performance of the FTSE.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 12:42 am Sales dip at 'cautious' WH SmithRetailer WH Smith says it remains "cautious about the consumer environment" as it reports a fall in sales.Source: BBC News | Business | World Edition | 12 Nov 2009 | 12:40 am Oil steady above $79; eyes on U.S. data, dollarSINGAPORE (Reuters) - Oil held steady above $79 a barrel on Thursday as the dollar held near 15-month lows against a basket of currencies, while investors waited for U.S. government oil data for direction before taking more positions.Source: Reuters: Business News | 12 Nov 2009 | 12:33 am Fame & Fortune: Chef Marcus WareingChef Marcus Wareing 39 created Petrus restaurant but after parting with Gordon Ramsay he set up on his own at The Berkeley.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 12:27 am BT profits tumble 45% as cost cutting swellsBritish Telecom today revealed that profits for the first six months of the year plunged by 45 per cent and increased its cost-cutting target for the year from £1 billion to £1.5 billion. Source: Latest Business News from Times Online | 12 Nov 2009 | 12:26 am Surprise rise in Australian jobsA surprisingly strong increase in Australia's October jobs figures leads to talk of a December interest rate rise.Source: BBC News | Business | World Edition | 12 Nov 2009 | 12:20 am HewlettPackard to buy 3Com in 2.7bn dealHP is to buy network maker 3Com in a 2.7bn £1.7bn deal that will significantly strengthen the global technology giant's position in China.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 12:14 am How to avoid repossessionDespite the stuttering recovery in property prices the fear of repossession still stalks housing markets.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 12 Nov 2009 | 12:12 am Repossessions still risingFigures released today will show whether the UK is heading for its highest level of home repossessions for 16 years.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Nov 2009 | 11:58 pm Jobs hope at former Burberry siteA £3.6m plan is announced to redevelop a former Burberry clothes factory site which closed despite a campaign.Source: BBC News | Business | World Edition | 11 Nov 2009 | 11:50 pm NZ market rises, new listings welcomeThe New Zealand sharemarket posted modest gains on a day in which there was confirmation that another new listing is on the way.Milk processor Synlait said it will launch an initial public offer of shares this month, while attention...Source: nzherald.co.nz - Business | 11 Nov 2009 | 11:36 pm Thousands suffer rail disruptionCommuters in south-east England are facing a second day of reduced services because of a row over pay.Source: BBC News | Business | World Edition | 11 Nov 2009 | 11:00 pm Asian markets slip as rally peters out (AP)
Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 10:58 pm U.S. looks to cut deficit with unused TARP funds: report (Reuters)
Source: Yahoo! News: Business | 11 Nov 2009 | 10:48 pm U.S. looks to cut deficit with unused TARP funds: report(Reuters) - The White House is looking to cut its budget deficit by using some unspent funds from the U.S. government's Troubled Asset Relief Program (TARP), the Wall Street Journal said, citing people familiar with the matter.Source: Reuters: Business News | 11 Nov 2009 | 10:48 pm Dollar mixed, ends little changedThe New Zealand dollar ended close to where it started but had some ups and downs during the day in response to data here and in Australia.The NZ dollar was US74.03c at 5pm, little changed from US74.04c at the same time yesterday....Source: nzherald.co.nz - Business | 11 Nov 2009 | 10:43 pm Americans may be settling into spending less (AP)
Source: Yahoo! News: Business | 11 Nov 2009 | 10:26 pm Dollar knocked by China renminbi hintsChina’s central bank acknowledged the case for a stronger renminbi, days ahead of the arrival in Beijing of US president Barack Obama for talks expected to highlight mounting international concern over Chinese currency policySource: Financial Times - US homepage | 11 Nov 2009 | 9:05 pm China's Wen reiterates loose policy stanceBEIJING (Reuters) - China will stick to its active fiscal policy and loose monetary measures even though its economic recovery is now on more solid footing, Premier Wen Jiabao said on Thursday.Source: Reuters: Business News | 11 Nov 2009 | 8:24 pm Soros, CIC help Longfor raise $912 million in IPOHONG KONG (Reuters) - Chinese property developer Longfor Properties Co raised $912 million, pricing its Hong Kong initial public offering at the top end of an indicated range on Thursday, according to two sources close to the deal.Source: Reuters: Business News | 11 Nov 2009 | 7:50 pm Sales volumes down for carpet makerThe recession hit the residential carpet market quickly and severely and sales are expected to remain flat, Cavalier Carpets said today.The company told shareholders at its annual meeting that earnings for the first four months...Source: nzherald.co.nz - Business | 11 Nov 2009 | 7:30 pm Lou Dobbs leaving CNNCNN host Lou Dobbs says he is leaving the network, effective immediately.The longtime host of Lou Dobbs Tonight said today on his show that it would be his last. He said CNN had allowed him to be released from his contract,...Source: nzherald.co.nz - Business | 11 Nov 2009 | 7:30 pm Study done on mobile phone plan pricingNew Zealanders are able to get a prepaid mobile phone plan at prices lower than the OECD average for the first time since the Commerce Commission started analysing the industry.The commission today published its Telecommunications...Source: nzherald.co.nz - Business | 11 Nov 2009 | 7:30 pm AIG chief 'frustrated' but staying onRobert Benmosche told his staff on Wednesday that he is "frustrated" with ongoing discussions with the government about bonuses, but he will remain with the company.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 7:01 pm Plan to end Fed supervisory role draws fireFormer Federal Reserve officials, bankers and academics found fault with a plan to strip the US central bank of powers as they leafed through the draft legislation and Congress paused for breath for the Veterans Day holidaySource: Financial Times - US homepage | 11 Nov 2009 | 7:01 pm Health products ride out recessionNatural health products company Comvita reported a $1.62 million profit in the six months to September 20, up from $203,000 in the same period last year.The natural health products market generally escaped any significant impact...Source: nzherald.co.nz - Business | 11 Nov 2009 | 6:30 pm When The News Is Not The News: The AIG CEO StoryRobert Benmosche, the CEO of AIG (NYSE:AIG) is known for being hot-headed, mercurial, self-centered, brilliant, ill-tempered, and gifted. He is just the sort of executive who threatens to quit his job several times a year. He probably likes to hear his board and colleagues say how much they need him. The Wall Street Journal reported that Benmosche told [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 6:25 pm HP to buy 3Com for $3.1 billion (Reuters)
Source: Yahoo! News: Business | 11 Nov 2009 | 6:19 pm AMD expects key business to be profitable in 2010SUNNYVALE, California (Reuters) - Advanced Micro Devices said it expects to report profits next year from its chip design business, the backbone of a company trying rebuild market share and better compete with rival Intel Corp..Source: Reuters: Business News | 11 Nov 2009 | 6:14 pm Costco CFO: Fingers crossed consumers will spendNEW YORK/SAN FRANCISCO (Reuters) - Costco Wholesale Corp is hoping that consumers are becoming more comfortable making purchases as the No. 1 U.S. warehouse club operator heads into the year-end holiday shopping season.Source: Reuters: Business News | 11 Nov 2009 | 6:11 pm Struggle to find successor for Lewis at BofABank of America might not meet the goal of naming a chief executive by Thanksgiving, reflecting a process that has been hobbled by the lack of a clear frontrunner and concerns that the process must pass muster with the Federal Reserve.Source: Financial Times - US homepage | 11 Nov 2009 | 6:03 pm Maybe The Search Engine Business Isn’t So Great (YHOO)(GOOG)(MSFT)Several studies show that Microsoft’s (NASDAQ:MSFT) Bing search engine picked up market share in October. Combined with Yahoo! the two companies could end up with clost to 30% of the industry in the United States. The firms believe that the deal will be final in the first quarter of next year. Google (NASDAQ:GOOG) will still [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 5:58 pm DSG International Raised to `Buy’ at Citigroup: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 5:44 pm AIG boss Benmosche denies reports that he is to quitBob Benmosche the chief executive of American International Group has dismissed reports he is on the verge of walking away after just four months.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Nov 2009 | 5:09 pm British Airways and Iberia move closer to landing merger dealBritish Airways is closing in on its long-awaited merger with Iberia, the Spanish flag carrier. An annoucement could be made as early as Friday, according to Sky News, although sources last night cautioned that any deal could still fall through. Source: Latest Business News from Times Online | 11 Nov 2009 | 5:05 pm Thanks a million – downturn makes no dent in seven-figure pay of top lawyersHundreds of partners at the City’s leading law firms earned more than £1 million this year, despite the sudden downturn in the commercial legal market. Source: Latest Business News from Times Online | 11 Nov 2009 | 5:01 pm Marks & Spencer may add Simply Food to the menu of continental expansionMarks & Spencer sparked protests on the streets of London at the start of the decade when it abandoned its stores in countries including Belgium and France — but as a new decade beckons, it is looking toward the Continent again. Source: Latest Business News from Times Online | 11 Nov 2009 | 5:01 pm Loose legacy of Chancellor’s fiscal tighteningMervyn King yesterday achieved the distinction of increasing his growth and inflation forecasts while at the very same time leading financial markets to judge that super-lax monetary policy can stay looser for even longer. Source: Latest Business News from Times Online | 11 Nov 2009 | 5:01 pm Bmi struggles to get sale of landing slots off the groundBritish Midland (bmi) may struggle to raise the £95 million in funding it needs to keep flying because potential buyers for its Heathrow landing slots have become thin on the ground. Source: Latest Business News from Times Online | 11 Nov 2009 | 5:01 pm Smith forced out of Reed Elsevier after only eight months in chargeIan Smith, the chief executive of Reed Elsevier, walked away with a £1.1 million payoff yesterday as he was forced out of the information giant only eight months after taking charge. Source: Latest Business News from Times Online | 11 Nov 2009 | 5:01 pm Retail spending shows gradual recoveryRetail sales edged up a seasonally and inflation-adjusted 0.1 per cent in the September quarter.The figure was slightly ahead of the median forecast for no change from economists in a Reuters poll.By far the major contributor...Source: nzherald.co.nz - Business | 11 Nov 2009 | 5:00 pm Hewlett-Packard buys 3Com in run at CiscoHewlett-Packard agreed to buy 3Com for $2.7bn in cash, opening the broadest front yet in a competitive war with Cisco Systems.Source: Financial Times - US homepage | 11 Nov 2009 | 4:57 pm Applied Materials to axe 1,500Applied Materials, Inc. announced Wednesday it will cut between 1,300 and 1,500 employees, or 10% and 12% of its global workforce, over the next 18 months as part of its restructuring plan.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 4:56 pm IBD's Top 10 - Wednesday (Investor's Business Daily)Investor's Business Daily - 1 Stocks rose amid upbeat industrial news from China that bolstered hopes for a broad global recovery. The Nasdaq climbed 0.7%, down from 1.2% at session peak. The S&P 500 rose 0.5%, while the Dow and NYSE composite gained 0.4% each. Volume fell across the board. Gold and oil prices rose. The bond market was closed for Veterans Day.Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 4:51 pm Wal-Mart plans Black Friday all-nighterIn preparation for the traditional kickoff of the holiday shopping season, Wal-Mart Stores Inc. announced Wednesday that most of its stores will be open 24 hours for "post-Thanksgiving Day events."Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 4:40 pm Restaurateur Palmer, Real Estate Crisis, Ludtke on Lear: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 4:37 pm AIG furious over White House-imposed cutsThe relationship between AIG and some of its US government paymasters has come close to breaking point after a heated exchange between the insurer’s board and the Obama administration “pay tsar” over compensation at the stricken company.Source: Financial Times - US homepage | 11 Nov 2009 | 4:32 pm Rakon reports $6m net lossTechnology company Rakon reported first half revenue of $72.2 million, up 20 per cent on the second half of last financial year, but down 9 per cent on the same period last year.The company recorded a net loss for the six months...Source: nzherald.co.nz - Business | 11 Nov 2009 | 4:30 pm Motorola eyes $4.5 billion home/networks unit sale: sourcesNEW YORK (Reuters) - Motorola Inc is in the early stages of looking into a potential sale of its $4.5 billion television set-top box and network equipment business, two sources said on Wednesday.Source: Reuters: Business News | 11 Nov 2009 | 4:18 pm India probes accounts linked to London UBS caseThe fine imposed on the Swiss bank by Britain’s financial watchdog is part of an unfolding investigation into the past management of Indian private banking accountsSource: Financial Times - US homepage | 11 Nov 2009 | 4:14 pm Positive start for sharemarketThe New Zealand sharemarket rose in early trading, ahead of the release of September quarter retail sales data.Around 10.20am, the benchmark NZX-50 index was up 6.3 points to 3167.84, following a fall of 5.9 points yesterday.Fletcher...Source: nzherald.co.nz - Business | 11 Nov 2009 | 4:00 pm More finance firms tipped to failA big chunk of the surviving finance company sector is unlikely to outlive the retail deposit guarantee, the Reserve Bank indicated yesterday.In its twice yearly report on the stability of New Zealand's financial system, the RBNZ...Source: nzherald.co.nz - Business | 11 Nov 2009 | 4:00 pm Stocks rise as traders bet on low rates, China (AP)
Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 3:57 pm Podcast: Breaking Up (Big Banks) Is Hard To Do
The scariest thing this Halloween -- the economy. (Steve Rhodes/Planet Money Flickr pool) On today's Planet Money: Economist and Planet Money regular Simon Johnson thinks it's time to break up the big banks. Simon says the current regulations aren't enough to prevent another crisis and we need to do something more drastic. Former head of the Federal Reserve, Paul Volcker and Mervyn King, head of the British central bank, agree, but that hasn't convinced Martin Baily of the Brookings Institution. Baily, who was chairman of the Council of Economic Advisers during the Clinton administration, is worried about the unintended consequences of bad regulation. He says the risk simply isn't worth it. Download the podcast; or subscribe. Music: Fun.'s "Light A Roman Candle With Me." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Nov 2009 | 3:54 pm Write-Offs: 11.11.09$$$ $1.5 Million In Blatant Insider Trading Profit Following 3Com Acquisition [ZH] $$$ Too Big To Fail + Zombies [NYM] $$$ optionMONSTER Group launches Traders4Kids, Charitable Events Hosted by Traders [BW] $$$ The Journal has a few questions: Why do football players wear helmets in the first place? And more important, could the helmets be part of the head injury problem? [WSJ] $$$ Warren Buffett Dines And Dashes [mediabistro] 
 Source: Dealbreaker | 11 Nov 2009 | 3:49 pm How the major stock indexes fared on Wednesday (AP)AP - More signs that interest rates will remain low and upbeat economic news from China gave investors more reason to keep buying stocks Wednesday.Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 3:41 pm SIRIUS Cautious Praise At S&P (SIRI)SIRIUS XM Radio Inc. (NASDAQ: SIRI) has been reaffirmed on its corporate debt rating at “B-” late in the day. While this is still very deep in “junk bond” territory at S&P, the outlook has been revised to positive from stable. This is after the earnings that we called mostly headed in the right direction [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 3:41 pm HP to buy 3Com for $2.7 billionHewlett-Packard Co. announced Wednesday it will purchase networking company 3Com for $2.7 billion, and also preannounced higher fiscal fourth-quarter earnings and raised its outlook for fiscal 2010.Source: Business and financial news - CNNMoney.com | 11 Nov 2009 | 3:37 pm CA-CANADA Summary (Reuters)Reuters - Toronto's main stock index finished slightly higher on Wednesday in a quiet session marked by an early jump to a three-week high that eroded as the day progressed. Advances by banks and Potash Corp, helped by an encouraging economic report from China, overpowered a drop in the energy group that took the index lower, briefly, just before the close.Source: Yahoo! News: Business | 11 Nov 2009 | 3:22 pm CA-CANADA Summary (Reuters)Reuters - Toronto's main stock index finished slightly higher on Wednesday in a quiet session marked by an early jump to a three-week high that eroded as the day progressed. Advances by banks and Potash Corp, helped by an encouraging economic report from China, overpowered a drop in the energy group that took the index lower, briefly, just before the close.Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 3:22 pm TSX clings to gain as China data offers hope (Reuters)Reuters - Toronto's main stock index finished slightly higher on Wednesday in a quiet session marked by an early jump to a three-week high that eroded as the day progressed.Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 3:22 pm Jobs of the WeekVice President - Wealth Management, New York, NY Prestigious full service investment boutique seeks Vice President -
Source: Dealbreaker | 11 Nov 2009 | 3:15 pm Housing Speculation On The RiseAccording to a recent survey conducted by Move.com the some people interested in purchasing real estate as an investment has doubled since March 2009. The results show that this growth has been driven by falling housing prices and increased foreclosures. According to the survey the number of homebuyers that plan to buy an investment property has risen to 12.1%. A [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 2:56 pm Smithfield Foods, Toll Brothers are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange:Source: Yahoo! News: Stock Markets News | 11 Nov 2009 | 2:35 pm Motorola eyes $4.5 billion home/networks unit sale: sources (Reuters)
Source: Yahoo! News: Business | 11 Nov 2009 | 2:34 pm The Week In Hedge Fund Fraud
Madoff: Let's start with the mother of them all. Bernie may be moldering away in Butner with the homosexual posse, but the fallout from Ponzi scheme to end all Ponzi schemes* continues. Last week, Madoff's storefront accountant pleaded guilty to fraud, obstruction and false filings. But the court battles aren't over: Swiss authorities have charged the former head of Banco Santander's fund of hedge funds arm with criminal mismanagement for overseeing its $3.5 billion in Madoff losses. Irving Picard is still busy, too. The court-appointed receiver, who said he's promised to pay out $534 million to Madoff's victims, has been forced to cut his claim against Madoff feeder fund magnate Ezra Merkin by one-third to $564 million. And then there's the aftermath of the death of Madoff buddy and Picard target Jeffry Picower.
Source: Dealbreaker | 11 Nov 2009 | 2:34 pm Tech Strangeworld: 3Com Bought by H-P (COMS, HPQ, CSCO, IBM)Sometimes the unimaginable happens, and that is today. 3Com Corporation (NASDAQ: COMS) is being acquired, and in a deal that won’t run regulatory risk at least over China having access to core technology. Hewlett-Packard (NYSE: HPQ) is the surprise buyer. H-P is buying the networking and routing company for a price of $7.90 per share 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 | 2:30 pm 52-Week High Club (NCST, SMD)NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST) rose over 70% to a yearly high of $1.70. Its rise was driven by the news that Smith & Nephew Plc (NYSE: SNN) has agreed to buy nearly all of NUCRYST’s assets. Smithfield Foods Inc. (NYSE: SMD) rose over 9% to a yearly high of $17.34. The pork processor was [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Nov 2009 | 2:21 pm Eliot Spitzer Needs Our Help
Source: Dealbreaker | 11 Nov 2009 | 2:14 pm More unveiled about BlackwaterPrivate security firm Blackwater lost its rich contract with the State Department in Iraq, and we're still finding out why. Kai Ryssdal talks to reporter Mark Mazzetti of The New York Times on new information about Blackwater.Source: Marketplace | 11 Nov 2009 | 2:00 pm Why traders don't trust word on dollarTreasury Secretary Timothy Geithner continues to repeat the official mantra that the U.S. supports a strong dollar. But some currency traders believe the official policy doesn't mind a weak dollar. John Dimsdale reports.Source: Marketplace | 11 Nov 2009 | 1:47 pm Bartlett Discusses His Book `The New American Economy': AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 1:46 pm Birinyi Says ETFs Less Effective in Volatile Market: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 1:44 pm Does Black Friday matter anymore?Retail stores are getting a jump on Black Friday with big sales ahead of schedule. So with so many discounts at consumers' whims, why even bother with Black Friday? Ashley Milne-Tyte gets opinions from shoppers.Source: Marketplace | 11 Nov 2009 | 1:07 pm World Bank Prez Worried By Asia's Faster-Than-He-Expected Recovery, Trots Out The B-WordLeave it to the World Bank to rain on everybody's parade. The president of the root of all evil, in ignorance or in spite of Larry Fink, sees a bubble burgeoning to the east. Mr Zoellick said on the margins of the Asia-Pacific Economic Co-operation summit in Singapore: "Traditionally the central banks in east Asia will follow the [US] Federal Reserve because if they raise interest rates [independently], that will draw capital and appreciate their currencies. Zoellick's warnings come hot on the heels of his partners-in-crime at the International Monetary Fund doubling their estimates for Asian economic growth this year.
Source: Dealbreaker | 11 Nov 2009 | 12:54 pm Obama's journey tells Pacific region 'US is back'White House officials stress that Barack Obama’s biggest objective will be to reassure Asian countries that they are front and centre of America’s vision, in contrast to the Bush yearsSource: Financial Times - US homepage | 11 Nov 2009 | 12:39 pm Who Should Take Over For Benmosche?Update: Fuck the below and headline above: CNBC reports that Bob has sent a memo to employees promising he'll never leave them. - Douglas Steenland, the former Northwest Airlines Corp. chief executive - Robert "Steve" Miller, the former CEO of Delphi Corp, - Arthur Martinez, the former CEO of Sears, Roebuck & Co. - Harvey Golub, the former CEO of American Express Co. But they might not care for the gig. So, let's add a few more names to the short list. Ken Lewis will need work soon but I think they stopped letting AIG employees booze on the job a few months ago. Hank Greenberg? I'm thinking he'd love that and it would spare him the effort of making AIG: The Sequel. Who else? AIG's Benmosche Is A Drama Queen [The Deal]
Source: Dealbreaker | 11 Nov 2009 | 12:12 pm 3 Things to Know Before Your Business Switches to VoIP
According to a recent BT Professional Services study, nearly half of all global IT organizations have already installed or incorporated VoIP into their infrastructure. Business VoIP service is a rapidly expanding industry- if you’re company hasn’t made the switch yet, chances are it’s something you’ve considered. However, not all business VoIP phone systems are created equal. The best fit for one company might not work well for another business, and some enterprises have specific requirements that necessitate one type of system or another. Here’s a basic guide on what you need to know before you choose a VoIP system. Type of System: On Site v. Hosted VoIP comes in two basic varieties- “on-site” systems, such as on-premise IP-PBX, and “hosted” systems, where equipment is housed at the provider location. Both present distinct advantages for businesses with different needs. An on-site system allows you greater control over bandwidth designation, features, and security options, and can be customized more easily. Since you own the equipment, you can modify it as you see fit. On-site systems require a higher initial cost outlay, and are maintained and updated by the owner, which can also lead to further costs down the road. Hosted systems, on the other hand, are a bit like leasing- you pay a monthly fee to use the system software, but it is maintained, updated, and repaired (if necessary) by the provider company. Hosted systems are portable, too- if you move offices, there’s no need to reconfigure complex equipment. Some vendors offer “hybrid” options, where some equipment is off-site and some is self-maintained. Make sure you carefully consider your available office space, maintenance budget, and technological know-how before choosing a hosted or an on-site system. Types of Connections: Dedicated v. Open Internet VoIP systems use Internet Protocol to route calls. Not all internet connections are the same. Although you can technically use a VoIP system with any speedy internet connection (wireless, broadband), some providers require a specific type of transmission, typically a T-1 line. T-1 lines are considered dedicated connections. Your service itself might be less expensive, but the cost for a T-1 line can be hundreds of dollars a month. Your other option is to route calls using an “open” internet connection, which is less expensive but can pose more of a security risk. Geographic location and provider preference are the two big factors to consider here. A T-1 line provides a faster connection in some areas, which is why some providers require it to install a VoIP system. Ask your VoIP services vendor if they require a specific type of internet connection. VoIP Providers: What to Look For Not all small business VoIP providers are the same- some cater to smaller businesses, while some only serve larger companies. When choosing a VoIP service company, service offerings and budget shouldn’t be your only concerns. You should ask for local references, find out who your “contact” person at the company will be (if you are assigned a dedicated service representative) and thoroughly examine the vendor from a customer service perspective. A VoIP system is a long-term purchase- it’s important to choose a vendor that’s willing to work with you to provide the best system for your business at a price that’s within your budget. Resource Nation provides free tools, tips, and purchasing advice for business owners and entrepreneurs in over 100Resource Nation provides free tools, tips, and purchasing advice for business owners and entrepreneurs in over 100 business categories ranging from phone systems to credit card processing. Whether it’s connecting businesses with local and national pre-screened vendors, or offering easy service comparisons on a VoIP service, Resource Nation empowers business decision makers by providing the information they need to make smart choices. David Liu is a writer and comedian based in San Diego, California. He writes extensively for Resource Nation and VoIP service, an online resource that provides expert advice on purchasing and outsourcing decisions for small business owners and entrepreneurs.
Source: Business Pundit | 11 Nov 2009 | 11:58 am Funding could help malnutrition battleA report out today from the United Nations Children's Fund links poor nutrition to a third of all child deaths under the age of 5. Jeff Tyler reports that hunger is, in theory, one of those problems that money could easily solve.Source: Marketplace | 11 Nov 2009 | 11:38 am WIC stores undergo healthy makeoverThe WIC federal nutrition program has just undergone a makeover, and vouchers are now good for fresh produce and healthy foods. This switch has put thousands of WIC-certified stores through some changes of their own. Rachel Dornhelm reports.Source: Marketplace | 11 Nov 2009 | 11:33 am Bank robbers prefer laptops to gunsThe Justice Department has indicted eight computer hackers who prosecutors say pulled off a global ATM heist last year. Jeremy Hobson explores the modern age of bank robbery and the more commonplace presence of digital financial fraud.Source: Marketplace | 11 Nov 2009 | 11:25 am A Follow Up Message From Steve Cohen's Magic Kingdom
Source: Dealbreaker | 11 Nov 2009 | 11:16 am A sting ray by any other name is edibleSting rays are becoming a growing menace on fishing in the Cheasapeake Bay. So some local oystermen are finding ways to turn the predators into a meal. But to make the rays more appetizing, they need some good marketing. Sabri Ben-Achour reports.Source: Marketplace | 11 Nov 2009 | 11:14 am America ends love affair with the SUVWhen Americans junked their old cars under the Cash for Clunkers program, they replaced them with more efficient, smaller vehicles. Commentator David Frum draws some larger economy lessons from Detroit's recent troubles.Source: Marketplace | 11 Nov 2009 | 11:12 am Letter: Losing My Job By The NumbersJenness C. of Jersey City, New Jersey writes: You like looking at unusual numeric indicators, so here are a few. Last December I was laid off from my job as an assistant editor at a major book publishing company. I was one of about 60 people laid off that day at my company, in a seemingly endless wave of publishing layoffs at most of the big houses. Last week I started a new job, still in book publishing, but on a different career path. Between then and now looked for new work and accrued meaningless statistics on my unemployment. So here you go, my experience of losing my job: Period of unemployment: 9 months, 3 weeks, 4 days Number of jobs applied to: 95 Interviews: 15 Jobs interviewed for: 11 Number of interviews for the job I got: 3 Number of drafts of resume: 14 Number of interview suits: 5 Number of friends I begged to forward my resume to their HR departments: 10 Number of business cards collected: 22 Number of business cards handed out: ~400 Weirdest job applied for: Record Keeper for the Guinness Book of World Records Lowest salary on offer for a job I applied for: $200 a month Number of times I was asked if the job I was applying for wasn't a step down for me: 6 Longest period between interviews: 12 weeks Most interviews in a single week: 4 Number of interviews I never heard back from: 6 Number of times I found out through the grapevine I'd been passed over: 5 Number of times I was not offered a full-time job, but asked if I would freelance instead: 2 Number of books I read to suck up to interviewers: 11 Number of times I cried over not being offered a job: 4 Number of times I contemplated grad school: 3 Number of Netflix movies rented: 139 Number of games of Hexic played: 57 Number of different careers considered: 5 » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Nov 2009 | 11:09 am Cohan Says Bear Stearns Managers Still Face Civil Suit: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 10:36 am Morgan Keegan's Lawrence Says Walmart May Rise Above $60: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 10:33 am Levitt Says Dodd's SEC Self-Funding Won't Pass Congress: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 10:30 am Frenkel Discusses Bear Stearns Fraud Trial: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 10:27 am Derrick Says China's Currency Creates Global Imbalances: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 10:25 am Callow Sees Risk of Credit Rating Downgrade for U.K.: AudioSource: Bloomberg - All Podcasts | 11 Nov 2009 | 10:24 am The Future Of UnemploymentBy Caitlin Kenney Economist Mark Thoma has a new blog over at MoneyWatch, and he's kicking it off with some interesting talk about unemployment. Today he asks whether there will be "a new normal" for unemployment once the recession is over. Here's a taste: I expect structural unemployment to be higher than it was, particularly in the next few years. We had too many resources in housing, finance, and automobile production, and it will take time for the economy to make the necessary structural adjustments. When this is combined with continuing globalization, as well as the higher savings rate and correspondingly lower consumption expected from households in the future, both of which cause structural change within the economy, the expectation is that the new target rate of unemployment will rise above the 4 percent level it was at before the recession. Exactly how much it will rise and for how long is hard to say. A 5 or 6 percent rate, or even somewhat higher is certainly imaginable, but getting it right is important. Thoma says we aren't totally powerless in dealing with unemployment. He thinks job training programs could help match workers with available jobs. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 11 Nov 2009 | 10:02 am Presented By:Source: Dealbreaker | 11 Nov 2009 | 9:37 am Acquitted Bear Stearns Guys Maybe Starting A New Hedge Fund!
Aram Hong, a juror from Woodside, Queens, said the exchanges between Cioffi and Tannin shown to the jury proved to her that the two men were working "24-7" to save the funds in the months before they collapsed. She noted a defense exhibit that showed the fund managers were working at 4 a.m.
Source: Dealbreaker | 11 Nov 2009 | 9:37 am Larry Fink Doesn't Want To Hear Any More Of Your Pessimistic CrapLaurence Fink kindly asks all you financial journalists, bearish money managers and talking heads to shut the hell up about a stock market bubble. Everything's fine, the BlackRock chief wants to assure. Totally normal. "I think things are playing out as they should," he told a Wall Street Journal executive-breakfast session. So stop talking about things going wrong, damnit: The Finkster promises us that the old crisis is basically history and that we won't see two crises in a row.
Source: Dealbreaker | 11 Nov 2009 | 9:10 am Ex-head of Santander arm faces Madoff chargesThe former head of Optimal, the Geneva-based hedge fund investment arm of Spanish bank Santander, has been charged with criminal mismanagement of funds that were placed with Bernard MadoffSource: Financial Times - US homepage | 11 Nov 2009 | 8:11 am Geithner Talks Dollars, China ReboundingBy Caitlin Kenney Treasury Secretary Timothy Geithner has the dollar on his mind during his first visit to Japan. In meetings with Japan's prime minister and finance minister, Geithner said he was encouraged by their promises to make sure that Tokyo's "future growth will come more from domestic demand." He also acknowledged signs of growth in China and said reforms there will take time. The Wall Street Journal (subs. req'd) reports: As Mr. Geithner touted Beijing's efforts to build what he calls a "less export-intensive" economy, he indicated his patience with China's policy of keeping the yuan undervalued against other currencies to boost its exports. That's despite stepped-up calls from Europe and the International Monetary Fund on the Chinese to accept rises in the yuan to cut the nation's trade surplus, which is a major part of global economic imbalances. "I don't want to say more than what I've said in the past, which is that China has laid out this very broad direction of reforms' to invigorate domestic demand, Mr. Geithner said. "It's a very complicated mix of policy changes. As part of that, they've recognized that it's in their interest over time to move to a move flexible .. exchange rate." Economic data released today shows that China's economy has recovered more quickly than many other parts of the world. In October, industrial output jumped 16.1 percent and retail sales increased 16.2 percent compared to last year. Exports also declined at their lowest rate this year. Responding to the indicators, the People's Bank of China hinted they may be willing to let the currency strengthen. Bloomberg reports: Policy makers will improve the setting of the yuan's rate in a "proactive, controlled and gradual manner and based on international capital flows and movements in major currencies," the People's Bank of China's said today in a quarterly report. Officials have previously aimed to keep the yuan "stable." President Obama is expected to bring up currency issues when he meets with President Hu Jintao and Premier Wen Jiabao in Beijing next week. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Nov 2009 | 8:00 am Rupert Murdoch Indulges in Verbal Tantrum Against Google and BBCThe Financial Times reports on a recent Sky News Australia interview with News Corporation’s Rupert Murdoch. He threatened to sue the BBC and ABC for stealing content, and Google for employing Fair Use: “But we are better,” said Mr Murdoch, chairman of News Corp. “And anyway, if you look at them, most of their stuff is stolen from the newspapers now, and we’ll be suing them for copyright.” But he added that he didn’t think it would be necessary to go to court. “They know the law. They will adapt.” He also challenged the idea that Google and others could take just the headlines and opening lines from his papers’ stories, indicating that he would not tolerate even that. “[They use] a doctrine called fair use, which we believe can be challenged in the courts and will bar it altogether,” he said. But he added that News Corp papers currently benefited to some extent from the advertising around its freely available internet content so “we will take that slowly”. BNet’s David Weir speaks to the apparent insanity of Murdoch’s words: …it appears there will continue to be delays in implementing the paid content strategy, which continues to strike me as a non-starter for newspaper content. Murdoch seems unwilling to concede that news is a commodity in today’s world, and placing it behind a paywall would simply help his competitors grab audience share. Then again, Murdoch is a man used to getting what he wants, so the delays and other problems (including possible anti-trust issues) plaguing his paid content plan must be frustrating him beyond belief. Thus the angry threats, but it remains to be seen whether he actually carries any of them out in the end. Mediabistro has more commentary: Rupert, never mind all this talk of pay walls and banning Google. The solution to your problem is clear: More Page 3 girls! Amen to that.
Source: Business Pundit | 11 Nov 2009 | 8:00 am Ignitable Drinking Water? WTFSo exactly what is the mandate of the New York State Department of Environmental Conservation? Classic government bureaucracy.
Source: Business Pundit | 11 Nov 2009 | 7:18 am A Different Kind of Sewer Lid
Source: Business Pundit | 11 Nov 2009 | 4:57 am 25 Veterans Day Quotes
In honor of Veterans Day 2009, here’s a list of 25 quotes to live by: 1. We make war that we may live in peace. -Aristotle 2. Nobody ever drowned in sweat. -US Marines 3. Those who cannot bravely face danger are the slaves of their attackers. -Aristotle 4. More powerful than the will to win is the courage to begin. -Unknown 5. Neither a wise man nor a brave man lies down on the tracks of history to wait for the train of the future to run over him. -Dwight D. Eisenhower 6. Many become brave when brought to bay. -Norwegian proverb 7. Courage is fear holding on a minute longer. -George S. Patton 8. It is easy to take liberty for granted, when you have never had it taken from you. -Unknown 9. Either war is obsolete or men are. -Buckminster Fuller 10. There never was a good war or a bad peace. -Benjamin Franklin 11. Unless one says goodbye to what one loves, and unless one travels to completely new territories, one can expect merely a long wearing away of oneself. -Jean Dubuffet 12. This nation will remain the land of the free only so long as it is the home of the brave. -Elmer Davis 13. Freedom is never free. -Author Unknown 14. Valor is stability, not of legs and arms, but of courage and the soul. -Michel de Montaigne 15. The more we sweat in peace the less we bleed in war. -Vijaya Lakshmi Pandit 16. In the beginning of a change, the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot. -Mark Twain 17. Peace is not only better than war, but infinitely more arduous. -George Bernard Shaw 18. It is not only the living who are killed in war. -Isaac Asimov 19. Life is 10 percent what you make it and 90 percent how you take it. -Irving Berlin 20. History teaches that war begins when governments believe the price of aggression is cheap. -Ronald Reagan 21. Soldiers generally win battles; generals get credit for them. -Napoleon Bonaparte 22. “Where there are too many policemen, there is no liberty. Where there are too many soldiers, there is no peace. Where there are too many lawyers, there is no justice.” -Lyn Yutang 23. Moral courage is the most valuable and usually the most absent characteristic in men. -George Patton 24. I think there is one higher office than president and I would call that patriot. -Gary Hart 25. Have the courage to act instead of react. -Earlene Larson Jenks
Source: Business Pundit | 11 Nov 2009 | 4:42 am
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