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Sharp fall in Chinese stocks as dollar firmsGlobal Markets Overview: European stock markets sold off after a sharp drop in Chinese shares and a strengthening dollar raised fears the multi-month rally may be overSource: Financial Times - US homepage | 24 Nov 2009 | 3:40 am Stocks seen falling at openU.S. stocks were poised to drop at the start of trading Tuesday, as investors braced for a barrage of economic reports.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 3:31 am Almost 25% Of Homes Are UnderwaterBy Douglas A. McIntyre There have been a number of attempts to come up with a figure about how many U.S. home mortgages are underwater — in other words, the value of the home loan is more than the value of the house. All estimates are bound to be wrong because no one has had the time [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Nov 2009 | 3:30 am Shopping Trends: A PlayStation But No MiniskirtMasterCard Spending Plus, which tracks retail sales, say that consumer electronics products are moving off the shelves of store by women’s apparel is not. A Wall Street Journal analysis of the data for the first two weeks of November shows that purchases of electronics rose 8.1%. Purchase or women’s apparel was down 3.3% and purchase of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Nov 2009 | 3:27 am Reliance Industries bids for LyondellBasellReliance Industries, India’s largest company, has offered as much as $12 billion ($£7.2 billion) in cash to take control of LyondellBasell, the Dutch-American chemicals maker that entered bankruptcy earlier this year, sources said. Source: Latest Business News from Times Online | 24 Nov 2009 | 3:23 am Shanghai hit by afternoon sell-off; Nikkei down 1%Asian markets end mostly lower Tuesday, with Chinese-stock investors locking in profits after the country's banking regulator warned banks about their capital positions, raising fears that lenders may have to sell shares to raise capital.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 3:23 am Emerging Markets Report: Russia's central bank lowers interest rates to 9%Russia’s central bank lowered its refinancing rate by 50 basis points on Tuesday, extending its easing cycle that started in April this year.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 3:19 am More mortgage approvals by banksThe number of new mortgages approved by the main banks for house purchase grew slightly in October.Source: BBC News | Business | World Edition | 24 Nov 2009 | 3:16 am FTSE 100 falls at start of trading (AFP)
Source: Yahoo! News: Stock Markets News | 24 Nov 2009 | 3:13 am Cot recall after suffocation linkMore than two million cots are recalled in the US and Canada over fears that a defect could cause children to suffocate.Source: BBC News | Business | World Edition | 24 Nov 2009 | 3:12 am The Rich Will Shop Early This YearThe rich will shop early this year. The poor will shop late. The edge will probably go to the poor when the amount of national holiday sales is tallied at the end of the year. Consumer Edge Research surveyed 2,600 people to determine their shopping habits. Reviewing the study, Reuters reported “The highest income households, or those earning [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Nov 2009 | 3:12 am UK mortgage approvals hit twoyear high says BBAThe number of mortgages approved for house purchase rose to its highest level for nearly two years during October according to the BBA.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 24 Nov 2009 | 3:08 am S&P raises fears over health of some banksA study by Standard & Poor’s raises questions over the financial strength of some of the biggest banks ahead of new rules that could require them to raise more fundsSource: Financial Times - US homepage | 24 Nov 2009 | 3:08 am Opel labor to see revamp plan on WednesdayDUESSELDORF, Germany (Reuters) - General Motors will present labor leaders at European arm Opel a reorganization plan on Wednesday that envisions cutting nearly a fifth of the workforce, GM's acting European head said.Source: Reuters: Business News | 24 Nov 2009 | 3:01 am AAP Foundation Opens New Rescue Centre Primadomus in SpainALMERE, The Netherlands and VILLENA, Spain, November 24 /PRNewswire/ -- The Dutch AAP Foundation officially opens a new rescue centre today in Spain called AAP...Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 3:00 am Pressuring Banks To Repay TARP, Courting TroubleThe Fed wants the taxpayer’s money back. It has asked nine large banks, including Bank of America (NYSE:BAC), to give it a timetable for when they will repay TARP funds. All of these banks were put through the government’s stress test of bank financial health earlier this year. According to Bloomberg, “The Fed’s request may turn up [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Nov 2009 | 2:56 am Cosmens raise National Express stake ahead of showdownThe family of Spanish entrepreneur Jorge Cosmen today piled more pressure on National Express's board by buying another 400,000 shares in the transport group to take its stake up to 19.72 per cent. Source: Latest Business News from Times Online | 24 Nov 2009 | 2:54 am Stock futures signal losses; HP eyed(Reuters) - U.S. stock index futures pointed to a lower opening on Wall Street on Tuesday, following the previous session's sharp gains, with futures for the S&P 500 down 0.18 percent, Dow Jones futures down 0.26 percent and Nasdaq 100 futures down 0.38 percent at 0925 GMT (4:25 a.m. EST).Source: Reuters: Business News | 24 Nov 2009 | 2:53 am Stock futures signal losses; HP eyed (Reuters)
Source: Yahoo! News: Business | 24 Nov 2009 | 2:53 am Stock futures signal losses; HP eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 24 Nov 2009 | 2:53 am A Chinese-owned GM, it could happenAs Chinese automakers eye bargains around the world, some think they could make a play for GM once it goes public.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 2:52 am British Gas offers accurate billsBritish Gas is giving customers the option of paying accurate energy bills each month, instead of relying largely on estimations.Source: BBC News | Business | World Edition | 24 Nov 2009 | 2:51 am Mortgage approvals soar by 98% in OctoberThe number of mortgage approvals in October almost doubled compared with the same time last year, the British Bankers Association (BBA) said today, in a fresh boost for the UK housing market. Source: Latest Business News from Times Online | 24 Nov 2009 | 2:45 am London Markets: Lloyds Banking Group advances, FTSE 100 sagsLloyds Banking Group shares buck a lower banking sector on Tuesday, after it sets out the per-share price of its 13.5 billion pound ($22.3 billion) share offering.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 2:43 am 7 wicked Black Friday Car dealsIt turns out the day after Thanksgiving is a great day to shop for a car. Here a few deals that deserve special attention.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 2:41 am Economic Report: Ifo German business index highest in over a yearThe Ifo Institute’s closely watched indicator of German business sentiment rose to its highest level in more than a year in November, boosted by a more positive outlook on exports and an improving view of the current business situation.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 2:41 am Lloyds sets price for record $22.4 bln share saleLloyds Banking Group on Tuesday priced its 13.5 billion pound ($22.4 billion) share sale at a 60% discount to the previous closing price as the bank took another step towards completing its mammoth capital raising plans.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 2:40 am Severn Trent warns demand still fallingSevern Trent today said that a 5.3 per cent rise in water bills this year had allowed it to stave off the effects of falling consumption and it reported a 22 per cent increase in underlying first-half profits to £188 million. Source: Latest Business News from Times Online | 24 Nov 2009 | 2:36 am Price hikes boost Severn TrentPrice rises offset a fall in consumption in the water company Severn Trent's first half earnings.Source: BBC News | Business | World Edition | 24 Nov 2009 | 2:36 am Hedge funds: 1, Warren Buffett: 0Remember "Buffett's Big Bet", in which the noted investor and CEO of Berkshire Hathaway maintained that an S&P 500 index fund would outperform five funds-of-hedge-funds over 10 years? Well, the results for the first lap, the agonizing year of 2008, are finally in, and the funds-of-funds soundly whipped the index. Vanguard's S&P 500 Admiral shares, the index fund "bought" by Buffett, were down 37%. On the average, and net of all fees, costs, and expenses, the five funds-of-funds backed by Buffett's opponent, Protégé Partners LLC, a New York money-management firm, delivered -- 23.9%.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 2:32 am Currencies: Dollar gains on euro in Asian tradingThe dollar rose against the euro in Asian trading Tuesday.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 2:32 am Global Concentrated Photovoltaic Market Worth US$266.0 million by 2014WILMINGTON, Delaware, November 24 /PRNewswire/ -- According to the new market research report, 'Concentrated Photovoltaic and Solar Photovoltaic Global Markets (2009Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 2:30 am Think twice before saying 'Charge it'A congressional effort to enact swift rules to protect credit card consumers during the holiday shopping season is all but dead.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 2:17 am UPDATE 1-Nokia to cut 220 R&D jobs in JapanHELSINKI, Nov 24 (Reuters) - Finnish mobile phone maker Nokia Oyj said on Tuesday it planned to cut 220 research and development jobs in Japan as it focused on launching fewer, but more iconic, phones...Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 2:16 am 8 wacky ways to save the EarthCloud whitening, space Frisbees and other ways of tinkering with the environment could help with global warming. But the risks are unknown.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 2:12 am Asia markets lower amid China warning to banks (AP)
Source: Yahoo! News: Stock Markets News | 24 Nov 2009 | 2:07 am Oil slips to near $77 amid mixed demand signalsOil slipped to near $77 a barrel Tuesday in Asia amid mixed signs about the global economy and crude demand. Benchmark crude for January delivery was down 11 cents to $77.45 a barrel at...Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 2:06 am Lloyds launches record share saleLloyds Banking Group launches the UK's biggest rights issue, worth £13.5bn, selling shares at a discounted price of 37p.Source: BBC News | Business | World Edition | 24 Nov 2009 | 2:01 am Japan Airlines shares slump againShares in Japan Airlines slump 9% after one of the country's biggest brokers says it has sold all its shares in the airline.Source: BBC News | Business | World Edition | 24 Nov 2009 | 2:01 am Media Digest 11/24/2009 Reuters, WSJ, NYTime, FT, BloombergReuters: Hewlett-Packard’s (NYSE:HPQ) profit was up 14% and the company will triple its share buyback. Reuters: Banks have been asked to give their TARP repayment plans to the government. Reuters: Rich people are likely to shop early this year. Reuters: The US pitched the F-35 fighter to Israel. Reuters: Home sales hit a 2 1/2 year high. Reuters: Hedge funds may get [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Nov 2009 | 2:01 am MAX drills 19.03 g/t gold over 6.1 meters at Crowsnest; includes 50.26 g/t gold over 1.5 metersTSX-V Symbol: MXR OTC BB Symbol: MXROF Frankfurt: M1D VANCOUVER, Nov. 24 /PRNewswire-FirstCall/ - MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF;...Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 2:00 am UPDATE 2-Market Chatter -- Corporate finance press digestBANGALORE, Nov 24 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 1:55 am Black Friday turnout to jump 16%Black Friday shopping is expected to pick up more than 16% this year, according to a survey released Tuesday.Source: Business and financial news - CNNMoney.com | 24 Nov 2009 | 1:54 am Europe Markets: European shares decline as miners pare gainsEuropean shares decline with miners paring strong gains from the previous session as the U.S. dollar takes back some ground against major rivals.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 1:54 am Informa shares tumble on Springer approachShares in Informa, the publisher behind Lloyds List, the world's oldest daily newspaper, fell 3 per cent today after it announced it is in talks with Springer Science and Business Media about a possible €400 million bid. Source: Latest Business News from Times Online | 24 Nov 2009 | 1:41 am Lloyds shares rise after cash callBanking stocks were back at the forefront of attention on London's equities markets on Tuesday, after news of the UK's biggest cash call dominated the agenda. Lloyds Banking Group confirmed the terms of...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:36 am Informa in talks to buy German academic publisher SpringerInforma the publisher of 275yearold maritime newspaper Lloyd's List said it was in talks with Springer Science and Business Media about buying the German academic publisher.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 24 Nov 2009 | 1:29 am Brussels drops Qualcomm antitrust probeEuropean regulators on Tuesday dropped their antitrust investigation into Qualcomm after the companies that had brought a complaint against the US mobile chipmaker over patent royalty rates withdrew their...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:28 am Brussels drops Qualcomm antitrust probeEuropean regulators have dropped an antitrust investigation over patent royalty rates against Qualcomm after leading companies in the case withdrew their complaintSource: Financial Times - US homepage | 24 Nov 2009 | 1:28 am Asia Markets And Europe Open (11/24/2009): Shanghai B Shares Down 7.3%Market in Asia were broadly lowere with Shanghai B shares down 7.3%. The Nikkei dropped 1% to 9,402. Japan Air hit a record low. The Hang Seng was down 1.5% to 22,423. The Bank of China was down 4.4% The Shanghai Composite fell 3.5% to 3,224. At the open in Europe, the FTSE was off .8% to 5,311. BHP [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Nov 2009 | 1:23 am Severn Trent profits jumpSevern Trent Britain's secondbiggest water company has seen firsthalf profits climb more than 50pc as sales climbed.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 24 Nov 2009 | 1:16 am Strong banks, weak credit: Treasury rethinks TARPBig banks are roaring back. At crisis' edge last year, they are repaying billions of dollars dumped into their vaults to rescue them. Dividend checks are accumulating at the Treasury....Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 1:14 am SPIN METER: Legislation inflation grips GOPRepublicans love to get their hands on the Democrats' health care legislation. They show it to the cameras at every opportunity, even piling one version on top of another to make a big pileSource: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 1:12 am Finnish unemployment rises to 8.2 pct in OctoberFinland's unemployment rate rose to 8.2 percent in October from 7.3 percent in September, the national statistics agency said Tuesday. Adjusted for seasonal variations, the October rate...Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 1:03 am Mobile Banking the Answer for Africa's Unbanked - MXitCAPE TOWN, South Africa, November 24 /PRNewswire/ -- Globally, mobile banking will become three times more popular than traditional banking by 2011 and MXit, the mobile...Source: RSS feed - channel BNewsBusiness | 24 Nov 2009 | 1:02 am Loan funds feel cash squeezeAccess to capital is a major hurdle facing certified community development financial institutions and prospective borrowers through the program run by the Treasury Department.Saul Gamboa was ready to break ground on a 44,000-square-foot plant in Vernon for his growing small business, Pacific Commercial Truck Body Inc., when he realized he'd missed a key deadline and lost his construction loan.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Past working relationships can help in marketing an ideaDear Karen : I am a licensed private investigator working for an insurance company. I see money wasted and have an idea to prevent it. How do I market my idea?
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Proposal to allow breakup of huge banks gains momentumIn the U.S. and abroad, support grows for giving regulators the authority to preemptively dismantle giant financial institutions whose collapse could cripple the economy.Momentum is growing in the U.S. and abroad to deal with the problem of gigantic financial institutions deemed too big to fail by breaking them up before they can threaten the economy.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Pace of U.S. home resales jumpsRate in October climbs 10.1% from the prior month, the fastest in two years, spurred by a trio of incentives.Home buyers last month snapped up previously owned properties at the fastest pace in more than two years, a Realtors group said Monday.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Row 44's in-flight Internet service gets off the groundThe Westlake Village firm, which is outfitting airlines with inexpensive satellite-based devices that allow passengers to stay connected, may succeed where Boeing failed.Billions of dollars and scores of top engineers with the world's largest aerospace company couldn't get it to fly.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Gasoline prices expected to remain stable during Thanksgiving weekendThe average price of a gallon of regular drops 2.1 cents to $2.94 in California but rises 1 cent to $2.639 nationwide.Motorists might not be paying as little as they would like to for a gallon of gasoline, but at least prices probably will remain stable in California and across the nation during the Thanksgiving holiday weekend, a government report released Monday indicated.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Peet's Coffee & Tea raises offer for Diedrich Coffee to $265 millionPeet's is battling with Green Mountain Coffee to acquire Diedrich, which makes the single-serve coffee pods called K-Cups used in the Keurig brewing system.Peet's Coffee & Tea Inc., hoping for a stake in the growing single-serve coffee brewing market, has boosted its bid for Irvine wholesale roaster and distributor Diedrich Coffee Inc. by 24%.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Row 44's in-flight Internet service gets off the groundThe Westlake Village firm, which is outfitting airlines with inexpensive satellite-based devices that allow passengers to stay connected, may succeed where Boeing failed. ...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am Peet's Coffee & Tea raises offer for Diedrich Coffee to $265 millionPeet's is battling with Green Mountain Coffee to acquire Diedrich, which makes the single-serve coffee pods called K-Cups used in the Keurig brewing system. ...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am Restaurants brace for a sour season as consumers lose appetite for dining outThe number of people visiting restaurants has plunged for four quarters in a row, according to NPD Group. Some higher-end establishments are offering discounts for holiday parties.Adele Cabot and her husband used to dine out three or four times a week, regularly spending $75 to $100 at a sushi bar sampling rainbow rolls and yellowtail nigiri sushi.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am National Geographic Channel has a curious brand of grammarAs Miss Teen South Carolina reminded us so memorably in 2007, "Some people in our nation don't have maps. . . ." So true. But you can't blame the National Geographic Society. For more than a century, the House That Grosvenor Built has been one of the world's most ambitious educational and scientific organizations. These are the people who brought us unforgettable documentary films about Jacques Cousteau and Robert Ballard, Jane Goodall and Dian Fossey. The society's flagship publication, National Geographic magazine, remains the platinum standard of glossy-book journalism: lucidly written, beautifully photographed and humanely informed, a study in elegance.
Source: L.A. Times - Business | 24 Nov 2009 | 1:00 am Pace of U.S. home resales jumpsRate in October climbs 10.1% from the prior month, the fastest in two years, spurred by a trio of incentives. ...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am Loan funds feel cash squeezeAccess to capital is a major hurdle facing certified community development financial institutions and prospective borrowers through the program run by the Treasury Department. ...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am 'New Moon' gross is risingSummit Entertainment underestimated the film's worldwide ticket sales by $16.1 million. The latest opening-weekend total is $274.9 million, but overseas box office figures are still trickling in. ...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am National Geographic Channel has a curious brand of grammarAs Miss Teen South Carolina reminded us so memorably in 2007, "Some people in our nation don't have maps. . . ." So true. But you can't blame the National Geographic Society. For more than a century, the...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am Gasoline prices expected to remain stable during Thanksgiving weekendThe average price of a gallon of regular drops 2.1 cents to $2.94 in California but rises 1 cent to $2.639 nationwide. ...Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am Past working relationships can help in marketing an ideaDear Karen : I am a licensed private investigator working for an insurance company. I see money wasted and have an idea to prevent it. How do I market my idea?Source: RSS feed - channel BNPaperBusiness | 24 Nov 2009 | 1:00 am Japan finance minister urges BoJ to tackle deflationJapan's finance minister Hirohisa Fujii has urged the Bank of Japan to take on a more aggressive role in staving off deflation.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 24 Nov 2009 | 12:59 am Lloyds launches Britain's biggest right issue at near40pc discountBank launches recordbreaking £13.5bn rights issue at a near40pc discount as part of a massive fund raising to strengthen its finances.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 24 Nov 2009 | 12:40 am Resources companies lead Aussie market downMELBOURNE - Resources companies led the Australian share market down to a weaker close after a broad-based sell-off reversed earlier gains.The benchmark S&P/ASX200 index closed down 32 points, or 0.68 per cent, to 4,685 points,...Source: nzherald.co.nz - Business | 24 Nov 2009 | 12:38 am China's car sales, gas consumption don't add upA sharp rise in Chinese car sales hasn't been reflected in nationwide gasoline consumption this year, an anomaly that has some analysts scratching their heads. But Standard Chartered analysts have a theory.
Source: MarketWatch.com - Top Stories | 24 Nov 2009 | 12:32 am UK taxpayers sink a further £5.7bn into LloydsEvery British household will sink a further £228 each into Lloyds Banking Group as part of the lender's record rights issue to raise £13.5 billion. Source: Latest Business News from Times Online | 24 Nov 2009 | 12:18 am Disney all set for Chinese parkDisney is given the green light to open a theme park in Shanghai by China's economic planning agency.Source: BBC News | Business | World Edition | 24 Nov 2009 | 12:05 am U.S. officials press Feinberg to ease AIG curbs: report(Reuters) - Kenneth Feinberg, the Obama administration's pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc for 2010, the Wall Street Journal reported, citing people familiar with the matter.Source: Reuters: Business News | 23 Nov 2009 | 11:45 pm NZ market fades after strong startThe New Zealand sharemarket started strongly but faded in the afternoon session as the Australian market weakened and as an initial pubic offer (IPO) by Synlait was pulled.The benchmark NZSX-50 index closed down 5.363 points,...Source: nzherald.co.nz - Business | 23 Nov 2009 | 11:44 pm Playboy to outsource most magazine ops: report(Reuters) - Playboy Enterprises Inc will outsource most of the business operations of its namesake magazine in an effort to curb losses, the Wall Street Journal said on Tuesday.Source: Reuters: Business News | 23 Nov 2009 | 11:40 pm Singh backs US mission in AfghanistanManmohan Singh, India’s prime minister, offered a strong endorsement of Barack Obama’s foreign policy agenda, calling for robust international support for military operations in Afghanistan as well as backing the US president’s calls for a nuclear-free worldSource: Financial Times - US homepage | 23 Nov 2009 | 11:05 pm Fed asks U.S. banks to submit TARP repayment plans: report (Reuters)Reuters - The U.S. Federal Reserve this month asked nine banks that were part of "stress tests" conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation.Source: Yahoo! News: Business | 23 Nov 2009 | 10:36 pm Fed asks U.S. banks to submit TARP repayment plans: report(Reuters) - The U.S. Federal Reserve this month asked nine banks that were part of "stress tests" conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation.Source: Reuters: Business News | 23 Nov 2009 | 10:36 pm NZ dollar remains in US72c rangeThe New Zealand dollar was mixed and confined to a fairly narrow range today.Economists said it did not react to the Reserve Bank of New Zealand quarterly survey of inflation expectations, when it probably should have.The...Source: nzherald.co.nz - Business | 23 Nov 2009 | 10:26 pm Irwin Kellner: It's beginning to look a lot like a 'W'The economy is beginning to look a lot like a 'W,' writes Irwin Kellner.
Source: MarketWatch.com - Top Stories | 23 Nov 2009 | 10:10 pm Clothing sales down Nov., but online roars back (AP)AP - After showing signs of improvement in early fall, sales of clothing and luxury goods weakened a bit the first half of November, compared with a year ago, when stores pulled shoppers in with massive discounts, figures released Tuesday show.Source: Yahoo! News: Business | 23 Nov 2009 | 10:01 pm Paul B. Farrell: 15 signs Wall Street pathology is spreadingToday we’ll paraphrase news reports about 15 symptoms spreading “soul sickness” beyond the boundaries of this Goldman case study: These are the 15 signs of a moral pathology undermining not just banking but American democracy and capitalism.
Source: MarketWatch.com - Top Stories | 23 Nov 2009 | 10:01 pm Fame and fortune: Sally GunnellRetired hurdler Sally Gunnell 43 is now a motivational speaker. She lives near Brighton with her husband Jonathan Bigg and their three children.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 23 Nov 2009 | 9:13 pm Pumpkin Patch sees itself through worst of global recessionChildren's clothing retailer Pumpkin Patch believes it is through the worst of the global recession and is seeing the return of some stability.Chief executive Maurice Prendergast told the company's annual meeting today that its...Source: nzherald.co.nz - Business | 23 Nov 2009 | 9:00 pm SkyCity sells cinema business to AustraliansCasino operator SkyCity Entertainment Group Ltd is selling its cinema business for $59 million.The buyer is Australia-based cinema operator Amalgamated Holdings Ltd (AHL).The business being sold includes a joint venture interest...Source: nzherald.co.nz - Business | 23 Nov 2009 | 7:45 pm 2 million Stork Craft, Fisher-Price cribs recalled after four infants dieHardware in the drop-side cribs can break, allowing children to become trapped and suffocate, a recall statement says.More than 2 million drop-side cribs built by Stork Craft Manufacturing Inc. are being recalled in the U.S. and Canada after the deaths of four infants.
Source: L.A. Times - Business | 23 Nov 2009 | 6:57 pm Icahn outbids Penn for Fontainebleau Las VegasLOS ANGELES (Reuters) - Financier Carl Icahn has offered $156.5 million to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, according to the resort's chief operating officer.Source: Reuters: Business News | 23 Nov 2009 | 6:09 pm Icahn outbids Penn for Fontainebleau Las Vegas (Reuters)Reuters - Financier Carl Icahn has offered $156.5 million to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, according to the resort's chief operating officer.Source: Yahoo! News: Business | 23 Nov 2009 | 6:09 pm Crib recall: 2.1 million deemed unsafeThe federal agency in charge of product safety announced the recall of 2.1 million cribs Monday, citing defective hardware that can cause toddlers and infants to suffocate.Source: Business and financial news - CNNMoney.com | 23 Nov 2009 | 5:43 pm HP triples stock buyback plan, profit up 14 percent (Reuters)
Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 5:36 pm HP triples stock buyback plan, profit up 14 percentSAN FRANCISCO (Reuters) - Hewlett-Packard Co tripled the size of its share repurchase program to $12 billion as China sales and better profit margins on its services boosted quarterly earnings.Source: Reuters: Business News | 23 Nov 2009 | 5:36 pm HP triples stock buyback plan, profit up 14 percent (Reuters)
Source: Yahoo! News: Business | 23 Nov 2009 | 5:36 pm Stimulus cash runs out for small biz loansThe stimulus cash that helped boost small business lending this year just ran out.Source: Business and financial news - CNNMoney.com | 23 Nov 2009 | 5:33 pm Synlait calls off $150m share issueCanterbury dairy company Synlait Milk Ltd has admitted it can't get enough support from investors for its planned $150 million float.Started up by the first big "defectors" from Fonterra's ranks in the South Island, Synlait has...Source: nzherald.co.nz - Business | 23 Nov 2009 | 5:30 pm Dunne announces changes to tax creditChanges to the minimum family tax credit and the prescribed rate to calculate fringe benefit tax, were today announced by Revenue Minister Peter Dunne.Low-income working families, eligible for the minimum family tax credit, will...Source: nzherald.co.nz - Business | 23 Nov 2009 | 5:08 pm Lloyds grows in confidence as institutional investors jump at new CoCosLloyds Banking Group will price its mammoth £13.5 billion rights issue with renewed confidence today after a pioneering new bond offer by the bank was significantly oversubscribed by institutional investors. Source: Latest Business News from Times Online | 23 Nov 2009 | 5:01 pm Vertex Capital Management makes cuts prescription for fixing sick firmsLarry Nusbaum has not found a cure for cancer, but he “sure as heck” feels that he has found the next best thing — a “clinically proven” anti-wrinkle cream. It is not only the perfect antidote to ageing, he suggests, but also to the recession. Source: Latest Business News from Times Online | 23 Nov 2009 | 5:01 pm Wm Morrison seeks successor to Marc BollandMarc Bolland’s defection from Wm Morrison to run Marks & Spencer came as a seismic shock to his boardroom colleagues at the Bradford-based supermarket group. Source: Latest Business News from Times Online | 23 Nov 2009 | 5:01 pm Falling reserves and rising costs to end South Africa’s golden ageSouth Africa’s remaining gold reserves are less than half existing estimates and the cost of bringing the dwindling resource into production may be far more than its value, a new report has found. Source: Latest Business News from Times Online | 23 Nov 2009 | 5:01 pm ING Property Trust posts $5.6m half year lossING Property Trust, the property investor that's sold 20 properties in the past year, made a first-half loss as the property market lags behind the recent pick-up in the economy and remains strained.The company made a $5.6 million...Source: nzherald.co.nz - Business | 23 Nov 2009 | 5:00 pm E-mail tirade boosts climate sceptics’ causeMessages sent to and from climate change experts appear to show them plotting to manipulate data and hurling abuse at their sceptical peersSource: Financial Times - US homepage | 23 Nov 2009 | 4:59 pm More retail brokers mull "breaking away": studyCHARLOTTE, North Carolina (Reuters) - As the economy shows signs of stabilizing, major retail brokers are increasingly comfortable with leaving the largest brokerage houses and setting out on their own, according to a company that provides services to the brokers.Source: Reuters: Business News | 23 Nov 2009 | 4:42 pm HP profits rise on cost cuttingHewlett-Packard sees its latest profits increase by 18% after cost-cutting work offset another decline in sales.Source: BBC News | Business | World Edition | 23 Nov 2009 | 4:34 pm Mall investors set for bonanza as finance recoversHedge funds and other investors now stand to make billions of dollars from their holdings in bankrupt US mall owner General Growth Properties, underscoring the extent of the recent rebound in financial marketsSource: Financial Times - US homepage | 23 Nov 2009 | 4:32 pm Whangarei superyacht builder goes into receivershipA company which promised to turn Whangarei into a world centre for superyacht-building has gone into receivership.New Zealand Yachts would continue to trade, receiver and manager Paul Sills, of Auckland law firm Hornabrook Macdonald,...Source: nzherald.co.nz - Business | 23 Nov 2009 | 4:30 pm Freddie says TBW-related loss may grow, files claim (Reuters)Reuters - Freddie Mac, the U.S. mortgage finance giant, said on Monday it is seeking $595 million in loan payments and other funds hung up after the bankruptcy of lender Taylor, Bean & Whitaker.Source: Yahoo! News: Business | 23 Nov 2009 | 4:23 pm Better digs, less moneyThese 6 businesses took advantage of crashed real estate prices to trade up for new stores and office space.Source: Business and financial news - CNNMoney.com | 23 Nov 2009 | 4:22 pm Hedge funds may get $11 billion frozen at LehmanNEW YORK (Reuters) - Lehman Brothers International (Europe), where more than $35 billion of hedge fund assets have been frozen since the bank's collapse last September, could return about $11 billion to fund managers by March if enough firms approve a new plan.Source: Reuters: Business News | 23 Nov 2009 | 4:13 pm Write-Offs: 11.23.09$$$ Accused Ponzi schemer Rothstein signed the letter: "Ciao ciao, Money never sleeps motherfucker :-)" [Law.com] $$$ Mr. Meehan asked him, "Danny, are you going to break it off with Janie?" He says Mr. Pang replied, "No problem. I can get married and still have a girlfriend.'" $$$ John Paulson donates $5 million to Southampton Hospital [Crain's] $$$ Plan is revived to repay some Lehman creditors. [DealBook] 
 Source: Dealbreaker | 23 Nov 2009 | 4:13 pm Govt adds 2000 places to Job OpsThe Government has confirmed another 2000 places will be added to its Job Ops scheme, which aims to get more young people into work.The scheme offers a $5000 wage subsidy over six months to help low-skilled young people find work,...Source: nzherald.co.nz - Business | 23 Nov 2009 | 4:12 pm Plastics recycling firm ERT censured by Stock Exchange over regulatory breachesListed technology firm Environmental Recycling Technologies has been given a public dressing down by Stock Exchange over "numerous" regulatory breaches.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 23 Nov 2009 | 4:06 pm How the major stock indexes fared on Monday (AP)AP - The stock market ended a three-day losing streak Monday, closing broadly higher as a weaker dollar and upbeat home sales numbers encouraged investors to take on more risk.Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 4:04 pm 10 Most Epic CVs Of All TimeWe’ve all got one, we get it out occasionally, and we’re sure these ones make yours look small and rather insignificant. We’re talking about your CVs, dirty minded people…10. Rambo
Previous Employment US Army Green Berets, Nutjob Mercenary, Snake Seller, Jungle Tour Guide. Reason for Leaving Previous Job Apparently my personal kit of an M2 Browning machine gun, 4000 rounds of ammunition, 12 inch machete, pepper spray, 8 grenades, a handaxe and a small box of tissues, was considered a ’safety hazard’. On top of this, my jungle-pattern combat facepaint was apparently ’scaring fellow employees’. In any case their facilities were rubbish – there was nowhere to land a helicopter, for example. Greatest Acheivement: Medal of Honor, Distinguished Flying Cross, Bronze Star, Purple Heart, Black Lung, Vietnam Service Medal, 10m Swimming Badge, Advanced Knot-Tying Badge, MTV Cribs Most Homely (for my jungle hut in Thailand) and Nutter of the Year 1988. Did I mention I have killed over 17,000 people? Personal Qualities Knowledge of over 23 ways to kill a man with my bare hands; can operate any military vehicle or weapon (including helicopter and tank); expert escape and evasion skills; very good at applying facepaint; extensive collection of bandanas; extremely sensitive. Ambitions Eventually I hope to move away from military-based suicide missions and into the softcore porn industry – both as a producer and star. Basically, instead of using guns to create holes, I’d like to fill holes with my… 6 years as a POW does cruel things to a man… Special Requirements 12 Vietnamese POWs for my personal amusement (and to keep my interrogation technique in great form), my bandana washed and ironed every evening, and a lifetime subscription to Butterfly Collector Weekly – oh, and a helicopter landing pad is definitely a dealbreaker. 9. Caligula
Previous Employment Emperor of Rome, God, Sadist. Reason for Leaving Previous Job There was a nasty incident involving the Praetorian Guard, my torso and some very sharp knives. I guess my popularity must have taken a nose-dive after I started referring to myself as ‘your god, Jupiter’ in the 3rd person, demanded my senators worship me as a living god, and exiled my wife for refusing to strip naked in front of dinner-party guests. Greatest Acheivement Among my many great achivements are disinterring the body of Alexander the Great to steal his breastplate, castrating the gladiator Longinus because he had a longer penis than me, appointing my favourite horse, Incitatus, as a Roman Consul and destroying the kidneys of nobleman Valerius Catullus during an extended erotic session (no questions please). Pretty great, huh? Personal Qualities I bring extreme sadism, insanity and a wacky dress sense to the table. I also get excellent personal advice from my horse, Incitatus. Ambitions My main ambition is to regain the Roman throne, but failing this I will settle for a gold statue of me in the Senate, or even just finding another wife who will get naked in public on demand. Special Requirements Not much really – Incitatus, requires a stable of marble with an ivory manger, purple blankets, a collar of precious stones, eighteen servants and feed of a mixture of oats and gold flake. Personally I subsist on a diet of only the rarest beasts from the far corners of the globe and insist the bodies of exotic slavegirls are used in place of tables and plates. I will send the full list separately. 8. Yoda
Previous Employment Jedi-Master and Sage Reason for Leaving Previous Job The boy I trained, gone he is. Consumed by Darth Vader. Greatest Acheivement Size matters not. Judge me by my size do you? Be gone. Personal Qualities Jedi’s strength from Force does flow. But beware you must. Anger, fear, aggression, the dark side are they. Once the dark path you start down, forever your destiny will it dominate. Ambitions Soon rest I will. Yes, forever sleep. Earned it I have. Twilight is upon me, soon night must fall. Special Requirements None. Yoda soon, complete will be. 7. Karl Marx
Previous Employment Philosopher, Revolutionary, Political Theorist, Saviour of the ‘Common Man’ Everywhere. Reason for Leaving Previous Job Communism turned out be… pretty dire, to be honest. My colleagues also felt unable to conduct a conversation with me about anything other than the ‘righteous indignation of the proletariat’ or ‘how to bring down the evil capatalist agenda destroying the western world’. To be fair, they hid my beard-comb. Greatest Acheivement Fathering modern communism and spreading disease, famine and oppression to millions around the world through its implication – not much of an achievement, I know – but I also came a close third in the ‘Most Hated Communist’ poll, beating Castro and just behind Trotsky and Mao. Personal Qualities Insane ability to generate flawed social programs… not much else really. Did I mention I’ve got an awesome beard? Ambitions My greatest ambition is to form a Communist Supergroup with Mao on drums, Trotsky lead guitar, Castro on double bass and me doing vocals. Stalin will be in charge of tickets, so you will be coming, whether you like it or not. We are currently in talks with U2. Special Requirements Whilst travelling through the US I will require a team of highly trained 24hr bodyguards and an armoured vehicle to ride in – apparently I’m not as popular as I thought… can’t think why… 6. Britney Spears
Image by EuPaparazzi Previous Employment Pop Diva, Teenage Pin-Up. Reason for Leaving Previous Job After becoming a global pop icon I started doing loads of dope, putting on weight, and ended up shaving my head and marrying a guy I’d only known for 6 months. Don’t worry I’m back to my poptastic best now though! Really… I’m not past it! Greatest Acheivement Well… aside from selling over 83 million of my crappy records, I’ve been Yahoo!’s most popular search term for the last four consecutive years and been named Most Searched Person in the Guinness World Records book. Personal Qualities Irresistable mixture of innocence and experience, exemplified by my hit ‘Oops!… I Did It Again’ which even features the line ‘I’m not that innocent’ sung by me in a schoolgirl outfit. As you probably can imagine, my PR and marketing team is insanely good – who else could convince millions the world over I am actually talented? Come ooon, girlfreeeend! Ambitions To win back the hearts of every teenage boy and girl around the world and reach the dizzying heights of the ‘Oops!… I Did It Again’ World Tour . But to be honest I’m not really very ambitious – I’m fine just churning out the same sickly-sweet, mass-produced pop albums year after year and collecting my fat paycheck. Who wouldn’t be? Special Requirements My endorsement deal means that I must, at all times, be seen drinking a can of Pepsi when in public and, of course, wearing my signature perfume. I’ll also need my standard diva dressing room demand of one box of mints, one bag of Doritos and seven clean and secured dressing rooms for my entourage. Fab! 5. Saint Peter
Previous Employment Member of 12 Apostles, Keeper of the ‘Pearly Gates’, Leader of Early Christian Church. Reason for Leaving Previous Job At the Last Supper Jesus foretold that I would deny him three times before the cock crowed twice… he was right. Jesus defriended me on facebook for that one, and although he did eventually forgive me (he kind of has to), my trust rating has gone way down. Greatest Acheivement I don’t know if you’ve heard, but I’m kind of a big deal round here. Being canonized was obviously a massive high, and getting made official bouncer… I mean ‘keeper’, of the gates of heaven was also sick. I did briefly walk on water with Jesus, but then I sank when my faith wavered. I also ran the Christian Church for a while, which was cool. Personal Qualities I’m a saint, obviously. Although I’m incredibly non-violent, I’m decent with a sword when it’s needed – don’t know if you saw, when Jesus was arrested I sliced that guys ear right off. I’m also extremely loyal and have an incredible beard. Much better than Karl Marx’s. Ambitions To continue to serve The Lord in heaven, really. Currently I control the doors to the greatest club in the Universe, and I love the hands-on nature of this job, although in the future I’d like to move up to a more management based role. Special Requirements All I need is The Lord’s love – Amen … having said that, some hot angel assistants would be a bonus… 4. Arnold Schwarzenegger
Previous Employment Bodybuilder, Actor, Politician, Businessman and Sex-God. Reason for Leaving Previous Job Having conquered ze worlds of extreme weightlifting, acting and business, I decided to try my hand as ze politician – it’s all going zwimmingly… people love me very much. Unfortunately, ze state of California is almost bankrupt… Greatest Acheivement Mr. Universe, Mr. Olympia, Conan ze Barbarian, Terminator… there have been zo many. But my proudest moment was when ze biceps hit the 22.5inch mark in 1973. Zweet! Personal Qualities I can crush man’s skull in one hand, ride ze Harley Davidson, make ze big financial deals, play ze hard guy in ze movies, do ze catchphrase (’I”ll be back…’), have ze dinner with Donald Trump and Warren Buffet – any allegations of sexual misconduct are totally untrue. Ambitions I am ze Terminator, nothing is beyond my reach. Special Requirements I consume over 15,000 calories each day – zo there must be an entire hog roast cooked in ze office every day just for me. As well as ze roast, I also require ze gym weights totalling 375,000lb and ze harem of hot secretaries on rotation zo I can have a fresh one every day. 3. Colonel Gaddafi
Previous Employment Tyrannical Dictator, Eccentric, International Clown, Amateur Love Doctor. Reason for Leaving Previous Job Having spent the last few years convincing the West that Libya is no longer evil, on the side of the Soviets, or involved with terrorism – it probably wasn’t the best idea for me to use the occasion of my maiden address to the UN assembly to tear up a copy of the UN charter, accuse the security council of being an Al-Qaeda-like terrorist body, call for Bush and Blair to go on trial for the Iraq War, demand $7.7tn for the damage done to Africa by colonialism and declare that swine flu was a biological weapon created in a military laboratory. Woops. Greatest Acheivement There are so many. Perhaps, getting my great quote, ‘God Damn America’, printed in Times Magazine, or constructing The Great Man-Made River – or as I like to call it – the ‘Eighth Wonder of the World’. But I suppose it would realy be successfully defending my blessed country and Muslims all over the world from the colonial outrages of the West, forcing those pig-dogs to crawl to me on their hands and knees and bow down to Gadaffi as lord and ruler of all. All this, I have definitely achieved. For sure. Personal Qualities Over my long career I have shown balance, delicacy and restraint when dealing with others. Only last week I placed an order for 500 leggy beauties to be delivered to my party in Rome, but there was no booze and definitely no Berlusconi-style hanky-panky – instead I lectured them for an hour about the superiority of Islam and why they should convert. That’s just the kind of guy I am. Ambitions I shall repeat only what I told King Abdullah of Saudi Arabia earlier this year: I am an international leader, the dean of all Arab rulers, the king of kings of Africa and the imam of Muslims everywhere – my international status does not allow me to descend to a lower level. Nothing is out of reach for Gaddafi. Special Requirements If employed by you I would require immediate trade embargoes to be place on the West by your company, all employees to convert to Islam and a ritualistic burning of the American flag to take place every morning before prayers. A fleet of combat aircraft and some long-range missile wouldn’t go amiss either… 2. Pamela Anderson
Previous Employment Actress, Sex-Symbol, Glamour Model, Activist, Giant Moving Breasts. Reason for Leaving Previous Job Ever since C.J. Parker I’ve been unfairly typecast in humongous-boob only roles – I want to break free from this mould, to live my dreams, and put that awful sex-tape of Tommy and I behind me. Save the animals everyone! Greatest Acheivement Well… since Baywatch I’ve kinda been dining out on that a lot. I have been able to appear in several movies, although mainly as myself. Yeah… posing naked for Playboy was a big thing for me, I really wasn’t sure about it… but then I did it for GQ, and for Stuff, and for loads of others! I dunno, I want to say my boobs, but that would be, like, so small minded and stuff. Saving the animals I guess. Personal Qualities Well, aside from the obvious… I’ve got massive boobs (hehe, see what I did there?). No seriously, they are huge. Did I mention that I’m also really good at saving stuff, like animals, and campaigning for stuff, like eating vegetarian? ‘Cause I am. Ambitions To help blondes with big breasts everywhere get over stereotypes (I’ve done a lot for that, really), and to help the animals… there so cuddly, wuddly. Let’s try and turn the whole world into veggies and get rid fur clothes! Yay! Oh, and I really want to destroy every copy of that damn sex-tape. Special Requirements I need an endless supply of massive bras (although I do often like to go without one!) and some cream to stop chafing. All my food has to be veggie, of course, and, like, has to have had no animals involved in its production or something. I’ll also need a new rockstar boyfriend ’cause I, like, get a new one every month. Woo! 1. Bruce Lee
Previous Employment Actor, Martial Artist, Philosopher. Reason for Leaving Previous Job The usefulness of a cup is its emptiness. Greatest Acheivement Using no way as way. Personal Qualities If one loves then one does not need an ideology of love. Ambitions Faith make it possible to achieve that which man’s mind cannot concieve and believe. Special Requirements To be formless, shapeless lke water. All images via wikimedia, unless otherwise stated.
Source: Business Pundit | 23 Nov 2009 | 4:03 pm Weak dollar, home sales data carry stocks higher (AP)
Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 4:02 pm Freddie Mac: Taylor, Bean loss may be significant (AP)AP - Mortgage finance company Freddie Mac said Monday it could lose $500 million or more as a result of the bankruptcy protection filing of Taylor, Bean & Whitaker Mortgage Corp.Source: Yahoo! News: Business | 23 Nov 2009 | 4:00 pm Podcast: Facing Corruption In Nigeria
The impeached governor of Nigeria's oil-rich Bayelsa state leaves the Federal High Court in Lagos escorted by members of the country's Economic and Financial Crimes Commission. January, 2006. (Pius Utomi Ekpei/AFP/Getty Images) On today's Planet Money: Nuhu Ribadu spent years fighting corruption in Nigeria. From his early days in the Nigerian police force to his later years as head of the Economic and Financial Crimes Commission, Ribadu battled the corruption that strangled his country's economic growth. He had some success for a while, but after two attempts on his life, he was forced to leave his home country and come to the United States. He shares the stories of his struggle and says he hasn't given up yet. Download the podcast; or subscribe. Music: TV On The Radio's "Staring At The Sun." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Nov 2009 | 3:52 pm Ireland Keeps Screwing Things Up
Credit-default swap prices on the sovereign debt of those countries are rising, meaning that Fitch Ratings might be on to something. However no one, it seems, not even the Irish, have anything on the Greeks in terms of fiscal brinksmanship.
Source: Dealbreaker | 23 Nov 2009 | 3:23 pm Citi: No Hiring 'Binges' Going Down On Our WatchEarlier today it was rumored that Citi had "kicked off week three of a research department hiring binge that has unemployed sell-side analysts partying like its 1999," starting with the signing of a multi-year, multi-million dollar guaranteed package for a mid-cap software analyst. Some people thought this was outrageous, due to the fact that the alleged money was coming from TARP. We just thought that, if true, it was an outrage that anyone would be getting this kind of contract before Vikram got his Zen Garden. So we were delighted to hear from a Citi spokesman, who assured us it wasn't true.
Source: Dealbreaker | 23 Nov 2009 | 3:20 pm Ortel on Economy, Handler on Schlumberger, Oil Industry: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 3:11 pm Home sales at 2-1/2 year highWASHINGTON (Reuters) - Sales of previously owned U.S. homes jumped last month to their highest level in more than 2-1/2 years, but a fall in an economic gauge was a reminder that recovery from recession would be patchy.Source: Reuters: Business News | 23 Nov 2009 | 3:02 pm Home sales at 2-1/2 year high (Reuters)Reuters - Sales of previously owned U.S. homes jumped last month to their highest level in more than 2-1/2 years, but a fall in an economic gauge was a reminder that recovery from recession would be patchy.Source: Yahoo! News: Business | 23 Nov 2009 | 3:02 pm Has Lloyd Blankfein Stopped Reading The Papers?
Earlier: Charlie Gasparino Has A Suggestion For Lloyd Blankfein
Source: Dealbreaker | 23 Nov 2009 | 2:59 pm Campbell Soup, Peet's Coffee & Tea are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange:Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 2:54 pm How To Become An Economic Powerhouse
Sulfur emissions from imported Chinese drywall is linked to corroding metal and wires in U.S. homes, and may be causing eye irritation and other health complaints by homeowners, federal investigators said. Joke's on them: They're going to own this country soon enough, stinky, poorly-built houses and all. Chinese Drywall Linked to Metal Corrosion, U.S. Says [Bloomberg]
Source: Dealbreaker | 23 Nov 2009 | 2:39 pm Tax credits boost US home salesSales of previously-owned US homes jumped by 10.1% in October as buyers rushed to take advantage of tax credits.Source: BBC News | Business | World Edition | 23 Nov 2009 | 2:27 pm H-P Holds Its Own (HPQ, COMS, DELL)Hewlett-Packard Co. (NYSE: HPQ) had already given its guidance for today’s earnings two weeks ago when it announced the surprise acquisition of 3Com Corp. (NASDAQ: COMS). But that doesn’t keep traders from looking through the numbers. H-P posted $1.14 EPS on $30.78 billion in revenues. Thomson Reuters had estimates of $1.13 EPS and $30.36 billion [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Nov 2009 | 2:16 pm Gold at new high on weak dollarThe price of gold hits a new all-time high, and oil also rises, both boosted by concerns about the weakening dollar.Source: BBC News | Business | World Edition | 23 Nov 2009 | 2:07 pm Microsoft in move to cut out GoogleMicrosoft is offering different terms to different publishers as it seeks to boost Bing by paying some content owners to cut their sites off from Google’s rival search engine, industry executives saidSource: Financial Times - US homepage | 23 Nov 2009 | 2:03 pm Most global banks are still unsafe warns S&PStandard & Poor's has given warning that nearly all of the world's big banks lack sufficient capital to cover trading and investment exposure.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 23 Nov 2009 | 2:01 pm Wall Street Journal Take Crisis Coverage To The Next Level
Source: Dealbreaker | 23 Nov 2009 | 1:57 pm Microsoft to pay newspaper websites to remove content from GoogleMicrosoft has reportedly offered to pay newspaper sites to remove content from Google hoping that it will boost traffic to its own search engine BingSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 23 Nov 2009 | 1:44 pm Greek market falls alert eurozoneGreece’s bond and stock markets have fallen sharply amid fears for its banks and economy as the European Central Bank prepares to end emergency fundingSource: Financial Times - US homepage | 23 Nov 2009 | 1:43 pm Debt Problem? What Debt Problem?
Sure, the national debt now exceeds $12 trillion, and simply servicing that mountain of IOUs is going to cost almost $1 trillion a year in a decade. Still, bidders today drove down the yield on two-year Treasury notes to an all-time low, as though the U.S. isn't facing a fiscal reckoning of seriously unpleasant proportions.
Source: Dealbreaker | 23 Nov 2009 | 1:39 pm Iceland food chain boss Malcolm Walker approached by exBaugur chief Jon Asgeir Johannesson over Hagar investmentMalcolm Walker the chief executive of the Deesidebased Iceland frozen food chain has been approached by Jon Asgeir Johannesson the founder of collapsed high street group Baugur about investing in his Hagar retail empire in Iceland.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 23 Nov 2009 | 1:36 pm A War Tax On The Rich?By Daniel Costello The notion that lower-income people make up the majority of our armed forces has led to sayings like "rich man's war, poor man's fight." Now, Senator Carl Levin (D-Michigan), chairman of the Senate Armed Services Committee, has an unusual ideato equalize the cost of war: a war tax on the rich. An "additional income tax to the upper brackets, folks earning more than $200,000 or $250,000" a year, could fund more troops, Levin proposed in an interview for Bloomberg Television's "Political Capital With Al Hunt," this weekend. White House Budget Director Peter Orszag has estimated that each additional soldier in Afghanistan could cost $1 million, for a total that could reach $40 billion if 40,000 more troops are approved. The tab, Levin said, should be paid by wealthier taxpayers. "They have done incredibly well, and I think that it's important that we pay for it if we possibly can," the senator said. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Nov 2009 | 1:12 pm China derivative rule change hits banksChina’s regulatory moves are in stark contrast to the slow pace of reform in derivatives markets in the US and EuropeSource: Financial Times - US homepage | 23 Nov 2009 | 1:08 pm Telegent Files for IPO (TLG)Telegent Systems, Inc. has just become the latest company to file to come public via an Initial Public Offering. No terms were listed, but the initial prospectus filing is for up to $250 million in common stock. Telegent will list on the NYSE under the stock ticker “TLG.” Goldman Sachs and J.P. Morgan are the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Nov 2009 | 12:56 pm Robert Pozen Discusses His Book `Too Big to Save?': AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 12:54 pm And, Yet, Vikram Is Still Down One Zen Garden (UPDATE)Someone is not happy at the House of Pandito. To: DealBreaker Update: According to a spokesman for Citi: 1) We do not give multi-year guarantees.
Source: Dealbreaker | 23 Nov 2009 | 12:53 pm Should Healthcare Insurers Be Close to 52-Week Highs (UNH, WLP, CI, HUM, AET)UnitedHealth Group, Inc. (NYSE: UNH) and most healthcare related insurers are trading higher today despite the coming health-insurance reform. The Senate voted over the weekend to open a debate on its version, or versions, of a healthcare reform bill. While this is aimed at getting insurance to 31 million people, even the executives of the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Nov 2009 | 12:40 pm Shaw of Merritt Discusses Small Business Rents: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 12:21 pm Get Drunk And Bid On Bill Ackman's House
Source: Dealbreaker | 23 Nov 2009 | 12:16 pm Presented By:Source: Dealbreaker | 23 Nov 2009 | 12:16 pm Divisions emerge on stimulus strategyEconomic stimuli should not be withdrawn too soon, Strauss-Kahn warns, while ECB says delays could backfireSource: Financial Times - US homepage | 23 Nov 2009 | 12:15 pm McCarthy Says U.S. Socialism Is Killing Small Businesses: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 12:02 pm 10 Insidious Lies About the “Internet Lifestyle”No dream has been chased by more people in the 2000’s than the “Internet lifestyle.” Broadly defined as earning money online from home, the Internet lifestyle has become a fixation of dissatisfied employees, stay-at-home parents, college students and even senior citizens. Unfortunately, the undeniably fun and exciting aspects of online work have obscured some important facts about how it actually works. Consequently, many are drawn to the Internet lifestyle by myths, half-truths and exaggerations that simply do not mirror real life. Today we will take an honest look at this cultural fantasy by exposing 10 insidious lies about the Internet lifestyle.
“The Internet” Can Make You MoneyMany books and courses about Internet business (which we address later) suggest that “the Internet”, as such, is a money-making device. We see this in phrases like “Internet money” which sound sexy but reveal nothing about how the money is made. In truth, there is nothing inherently easy or magical about making money “on the Internet.” The Internet is just a medium, like print, radio or TV. In order to make money on it, you need skills that generate income. Typically, the skills being pitched as online moneymakers are sales and advertising. Those who master these skills can and do make online fortunes, but it’s the skills, not the medium, that make it happen. Anyone Can Do ItPromoters of make money online courses want you to believe that “anyone” can make a killing online. Check out JamesMakesMoney dot com for a perfect example. During a video captioned “I make $100,000 a month and you can too”, James is shown driving around Miami in a Ferrari exclaiming things like “you can get like this too with the Internet. It’s all easy!” We’ve already explained why “the Internet” does not magically create wealth, and it’s also by no means easy. Take affiliate marketing, a popular online business model. Succeeding at that requires mastering literally dozens of skills, ranging from pay per click management to landing page design to keyword research to conversion tracking. Suggesting that any average Joe can get rich in a hurry with these techniques is simply a lie. Make Money While You SleepThe most seductive aspect of the Internet lifestyle is passive income. So cherished is this goal that there’s even a buzzword for it: money while you sleep. And it’s a perfectly legitimate goal, provided you understand the often Herculean effort required at the outset. Indeed, there is an Internet marketing joke that goes something like “I work 18 hours a day to make money in my sleep.” Make no mistake – there are people who make money while they sleep, but it’s not instant and it’s not completely passive even once it begins working. For instance, a pay per click campaign producing daily sales right now will very easily get left in the dust by competitors unless you monitor and tweak it continuously. Internet Work Provides Total FreedomGoing hand in hand with making money while you sleep is the freedom implied by such a lifestyle. And overall, online entrepreneurs do have considerably more freedom and flexibility than the average cubicle dweller. But this comes with a price. In his book Succeeding, Harvard MBA John T. Reed writes that “self-employment equals self-discipline.” His point was that it’s great not having a boss hawk over your shoulder all day, but most people need that to be productive. The Internet lifestyle, conversely, demands that you work even when no one is forcing you to. For instance, you may not feel like writing better PPC ads this weekend, but your sales will suffer unless you do and no one else will care. Those who cannot prioritize such tasks above the occasional movie or club night have little hope of doing well. Expensive Books and Courses Have All The AnswersSorry to say this, but the only people who typically who get rich off “make money online” books and courses are the sellers. Most training courses available for sale contain generic, obvious or outdated advice that falls short of what you need to know. Even worthwhile courses can only give you the theory and fundamentals of a given strategy – say, domain investing or pay per click. As in many fields, much of the truly weighty, difference-making knowledge comes from actually doing it. If you are serious about making an online living, commit here and now to not being a “seminar junkie.” Pick up a few books or courses if they sound worthwhile, but get into the action ASAP. It’ll Improve Your Dating LifeAnother common reason for wanting to work online is freeing up time to date or impressing people you date. Unfortunately, it’s unclear how often this actually happens. For one thing, we’ve already discussed that making big money online is usually neither fast nor easy. In fact, you will likely find that most successful Internet entreprenuers gave up a lot of social time to work on their businesses early on. Will people you date be impressed? Some will be. However, you will soon see how different your whole concept of time and work becomes than a 9-5 employee’s. Specifically, the fact that you will often choose to work without being forced to may annoy your 9-5 spouse if he/she is accustomed to forgetting about work once they clock out. Careful planning is often needed to maintain an exciting dating life while working online. You’ll Have More Family TimeThis, too, is a “yes and no” situation where the reality is more complicated than the ideal. By working online, you will indeed spend more time at home with your family. You must realize, however, that your home will not represent a workplace to anyone but you. Your kids wont abstain from drawing on walls because mommy or daddy is building a website. Your dog wont cease chewing up the couch because you’re upset about a Google quality score slap. And since you’re technically “home”, no one will feel impolite barging through your door with whatever problems or questions they have for you. One of the most underappreciated benefits of working in a real office is everyone understands that you are there to work. This eliminates distractions that you must valiantly fend off each and every day you work at home. There’s Only One Way to “Really” Make Money OnlineSome gurus claim that only their methods “really” make any money. Nothing could be further from the truth. In fact, virtually all methods of Internet moneymaking – eBay, affiliate marketing, information products, media buying, e-mail marketing, PPC, domain investing, – can work if executed properly. The question on your mind should be which of these many strategies fit your own personal strengths and weaknesses. Read some free articles on the various approaches and decide which one(s) sounds like something you could see yourself doing. You know yourself better than any guru or mentor. One Successful Income Stream Means You’re SetNothing compares to the triumphant joy of your first online success. That said, anyone who tells you it’s easy street from there on out is wrong. Remember – making money online isn’t like a “real job.” At a real job, you are essentially guaranteed a paycheck by showing up on time and not pissing anyone off. Online (especially if your money making method is sales), you are only paid according to what you produce. That means you should diversify your income streams. If you are only running one ad campaign or one website, your Internet lifestyle has a single point of failure. So it’s important to keep pushing after your first successful project. As Eric Hoffer says, “achievement does not settle anything permanently. We still have to prove that we are as good today as we were yesterday.” Nobody Really Lives the Internet LifestylePerhaps the biggest lie about the Internet lifestyle is that it doesn’t exist. Wrong – it’s real, and it rocks. The main reason people claim it doesn’t exist is because of all the hyped-up, pie-in-the-sky courses and seminars on Internet wealth. Intelligent people are rightly skeptical of a field whose most visible practitioners make promises like “I make $100,000 a month and you can too!” That said, plenty are making legitimate, defensible income online with real skills acquired over time. If you’re willing to acquire such skills and put in some hard work, you can certainly live the Internet lifestyle! Should You Pursue The Internet Lifestyle?Our goal in exposing these myths was not discouraging you from Internet work. Rather, it was giving you a complete picture of what it involves. There will never be a shortage of people telling you how great it is, but not everyone tempers their enthusiasm with the other side of the story. If you feel the pros outweigh the cons (as they often do), go for it!
Source: Business Pundit | 23 Nov 2009 | 11:59 am Kraft-Cadbury Conundrum: A Bridge Too Far (KFT, CBY, HSY)Cadbury plc (NYSE: CBY) is effectively worth almost more than ever because of the merger interest. Kraft Foods Inc. (NYSE: KFT) has a cash and share bid worth roughly $16.4 billion already, and Cadbury wants more. Throwing in the Hershey Co. (NYSE: HSY) bid, which may only complicate matters. Throw in Italy’s Ferrero and Switzerland’s [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Nov 2009 | 11:54 am Data may improve minority health careSeveral studies have shown that minorities tend to receive lower quality health care than whites do. Ashley Milne-Tyte reports on efforts to close that gap.Source: Marketplace | 23 Nov 2009 | 11:18 am Living a less wasteful life in HollywoodHollywood is going through some of the pains the rest of the economy is. Commentator Rob Long says scaling back is much harder than dreaming big when you work in the business.Source: Marketplace | 23 Nov 2009 | 11:18 am Economics of the rise and fall of pinballPinball machines used to be everywhere, but not anymore. Economics professor Jeff Ely talks with Kai Ryssdal about the economic lessons that can be learned from the machine.Source: Marketplace | 23 Nov 2009 | 11:17 am Extreme weather takes its toll in U.K.Insurance companies are counting the costs of severe flooding in northern England. Stephen Beard reports the deluge has wrecked hundreds of homes and businesses.Source: Marketplace | 23 Nov 2009 | 11:17 am Does Wal-Mart really save you money?Wal-Mart is claiming to save consumers cash -- even if they don't shop there. Steve Henn reports on whether it's true.Source: Marketplace | 23 Nov 2009 | 11:17 am News Corp may shun Google for BingThere are reports that Microsoft has been talking to News Corp about a deal that would keep the media company's content on Bing and off Google. Joel Rose reports.Source: Marketplace | 23 Nov 2009 | 11:17 am Concern grows over rising U.S. debtGovernment notes, bills and bonds will be on sale as Washington tries to finance its spending habits. Senior business correspondent Bob Moon talks with Kai Ryssdal about increasing worries over what the government owes and how much that debt costs.Source: Marketplace | 23 Nov 2009 | 11:17 am Existing Home Sales, Oil JumpBy Daniel Costello Sales of existing U.S. homes increased 10.1 percent in October to a seasonally adjusted annual rate of 6.10 million, the National Association of Realtors estimated Monday. The rate was the highest since February 2007. Sales were up 23.5 percent from the same time last year. Every region in the country experienced a pick-up. Meanwhile, the national median home price fell 7.1 percent to $173,100 in October compared to the same time last year. The greenback and oil futures also rose on Monday. Crude-oil futures gained $2.18, or 2.8%, to $79.65 a barrel as Iran started five days of large-scale war games, heightening global political tensions amid worries that oil supplies might be disrupted. Also helping oil higher: The U.S. dollar tumbled after a Federal Reserve official called for an extension of the central bank's asset-purchase plan beyond its planned expiration date. A weaker dollar tends to push up dollar-denominated commodities prices such as oil. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 23 Nov 2009 | 10:50 am FTSE 100 makes big gains (AFP)
Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 10:31 am FTSE 100 makes big gains (AFP)
Source: Yahoo! News: Business | 23 Nov 2009 | 10:31 am Microsoft Willing to Pay News Corp. To List Exclusively with Bing
Is Rupert Murdoch finally going to get his way? The Financial Times has the story: Microsoft has had discussions with News Corp over a plan that would involve the media company being paid to “de-index” its news websites from Google, setting the scene for a search engine battle that could offer a ray of light to the newspaper industry. The impetus for the discussions came from News Corp, owner of newspapers ranging from the Wall Street Journal of the US to The Sun of the UK, said a person familiar with the situation, who warned that talks were at an early stage. However, the Financial Times has learnt that Microsoft has also approached other big online publishers to persuade them to remove their sites from Google’s search engine. News Corp and Microsoft, which owns the rival Bing search engine, declined to comment. Microsoft could waste a lot of money and effort on buying up exclusivity deals with News Corp and The Financial Times’ other unnamed major Web publishers. Meanwhile, Google can just sit back and watch Microsoft pay big bucks to give Bing users exclusive access to news content that will only remain exclusive until a non-News Corp site summarizes the story or does their own reporting on the same subject. …in an intensely fractured Web search world (which this deal could lead to), Google and Bing may have no choice but to cut metasearch deals with each other, which would make exclusive indexing even more pointless. The Atlantic’s Derek Thompson claims that although the Wall Street Journal would lose 25% of its traffic by delisting from Google, that wouldn’t be a revenue-killer: …remember, big traffic numbers are a fig leaf. Ryan Chittum of the Columbia Journalism Review found that this 25% Google crowd accounted for less than $12m a year in advertising. If Murdoch can get a better deal with Bing — at a time when Bing might be desperate to increase its news integrity — then we should take this threat seriously. With so much innovation going on in journalism right now, I would hate to see outlets win the readership wars based only on deep pockets. Regardless of outcome, I have to give Rupert Murdoch credit for giving unfolding events a soap-operatic quality.
Source: Business Pundit | 23 Nov 2009 | 10:31 am A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Monday:Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 10:15 am Kroszner Says More Transparency Needed in Bankruptcies: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 9:51 am Clifton Optimistic on Finance, Health-Care Bills: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 9:50 am 25 Quotable Thanksgiving Quotes
It’s that time of year again. To celebrate the feedfest–and unofficial holiday season kickoff–that is Thanksgiving, we’ve compiled a list of 25 Thanksgiving quotes. Take them to the table with you this year: 1. “Got no checkbooks, got no banks. Still I’d like to express my thanks.” –Irving Berlin 2. “There is no sincerer love than the love of food.” –George Bernard Shaw 3. “Only a stomach that rarely feels hungry scorns common things.” –Horace 4. “I love Thanksgiving turkey … it’s the only time in Los Angeles that you see natural breasts.” –Arnold Schwarzenegger 5. “I would rather be able to appreciate things I cannot have than to have things I am not able to appreciate.” —Elbert Hubbard 6. “Gratitude consists of being more aware of what you have, than what you don’t.” –-Unknown 7. “We often take for granted the very things that most deserve our gratitude.” –Cynthia Ozick 8. “I celebrated Thanksgiving in an old-fashioned way. I invited everyone in my neighborhood to my house, we had an enormous feast, and then I killed them and took their land.” –Jon Stewart 9. “If you count all your assets, you always show a profit.” –Robert Quillen 10. “What we do for ourselves dies with us. What we do for others and the world remains and is immortal.” –Albert Pine 11. “What we’re really talking about is a wonderful day set aside on the fourth Thursday of November when no one diets. I mean, why else would they call it Thanksgiving?” –Erma Bombeck 12. “Thanksgiving is so called because we are all so thankful that it only comes once a year.” –P. J. O’Rourke 13. “You know that just before that first Thanksgiving dinner there was one wise, old Native American woman saying, “Don’t feed them. If you feed them, they’ll never leave.” –Dylan Brody 14. “It wasn’t easy telling my family 15. “Thanksgiving, when the Indians said, “Well, this has been fun, but we know you have a long voyage back to England”. –Jay Leno 16. “Thanksgiving is the day when you turn to another family member and say, “How long has Mom been drinking like this?” My Mom, after six Bloody Marys looks at the turkey and goes, “Here, kitty, kitty.” –David Letterman 17. “You can tell you ate too much for Thanksgiving when you have to let your bathrobe out.” –Jay Leno 18. “Thanksgiving is an emotional time. People travel thousands of miles to be with people they only see once a year. And then discover once a year is way too often.” –Johnny Carson 19. May your stuffing be tasty 20. “Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.” 21. “Turkey: A large bird whose flesh, when eaten on certain religious anniversaries 22. “Gratitude is a quality similar to electricity: it must be produced and discharged and used up in order to exist at all.” –William Faulkner 23. “An optimist is a person who starts a new diet on Thanksgiving Day.” Irv Kupcine 24. “Thanksgiving was never meant to be shut up in a single day.” –Robert Caspar Lintner 25. “Thanksgiving like contentment is a learned attribute. The person who hasn’t learned to be content…lives with the delusion he deserves more or something better.” –Robert Flatt
Source: Business Pundit | 23 Nov 2009 | 9:46 am Mosler Says Office Vacancies Are Low for a Recession: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 9:45 am Paulsen Likes Technology, Emerging Markets Stocks: AudioSource: Bloomberg - All Podcasts | 23 Nov 2009 | 9:41 am Bloomberg's Tackett on `Rogue' Palin; Sept. 11 Trials: VideoSource: Bloomberg - All Podcasts | 23 Nov 2009 | 9:32 am Bloomberg's Goldman, Forsythe on Obama's China Visit: VideoSource: Bloomberg - All Podcasts | 23 Nov 2009 | 9:31 am A Coming Food Crisis?By Daniel Costello In 2007, riots broke out from Egypt to Haiti when food shortages grew around the globe. Food prices have been rising for years as overall demand continues to outstrip supply and structural problems with how food is grown and distributed around the world worsen. Last year's recession eased food inflation but policy experts are worried prices could rise soon, impacting developed countries still hurting from the recession and poorer countries with little breathing room for even minor dips in the food supply. After decades of decline, the number of undernourished people around the world has risen 20% since the middle of the last decade and the trend is expected to continue for many years even with a new global intervention. On a positive note, more money is starting to pour into agriculture after decades of neglect. Both public and private sectors are doing more to help farmers than ever. In 2009, the World Bank increased its spending on agriculture by 50%, to $6 billion. But progress is slow. At a United Nations-backed food security summit in Rome this month, the UN's Food and Agriculture Organization argued world hunger could be wiped out if aid-giving countries spent $44 billion a year. Jacques Diouf, head of the UN's Food and Agriculture Organization, spoke of his "regret" that countries attending the Rome gathering set neither "measurable targets nor specific deadlines" for aid aimed at tackling undernourishment among one billion people worldwide. None of the leaders of the Group of Eight leading industrialized nations attended except for Italian Premier Silvio Berlusconi. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Nov 2009 | 7:45 am TSX opens higher as resource stocks rally (Reuters)Reuters - Toronto's main stock index shot higher at the open on Monday as stronger prices for Canadian exports like oil and gold supported the resource-heavy index.Source: Yahoo! News: Stock Markets News | 23 Nov 2009 | 7:43 am Consumer Product Safety Commission to Announce New Crib Recall
The Consumer Product Safety Commission (CPSC) will announce one of the biggest crib recalls in US history tomorrow, according to CBS sources. The cribs in question have dropdown sides, which can injure babies. The CBS Early Show reports: Koeppen advises that parents who have a crib in their home that has dropdown sides check to see whether it’s already been recalled. The CPSC suggests checking the hardware to see if it seems solid. Feel the side rail: If you can move it back and forth, that can be dangerous. And stop using the side rail: Don’t put it up and down anymore. The CPSC will release full details of the recall tomorrow.
Source: Business Pundit | 23 Nov 2009 | 7:20 am Morning Report: Murdoch Vs. Google; Suicides Up During RecessionBy Daniel Costello Microsoft Corp. and News Corp. have held talks to create a Web pact that would include Microsoft paying News Corp. to 'de-index' its news websites from Google, setting the scene for a search engine battle that could offer a ray of light to the newspaper industry, the Financial Times reports. News Corp. initiated the talks although the Financial Times says that Microsoft had also approached other online publishers about removing their sites from Google's search engine in exchange for content payment. Meanwhile, Chinese banking regulators are putting pressure on the country's banks to raise more capital and temper their rapid growth in lending, in the clearest signs yet of official concern about the sustainability of the nation's credit boom. Beijing has been pushing for a capital reserves to loan ratio of 13 percent for the biggest banks in an effort to stave off a possible bubble in the country's booming real estate and stock markets. Ratios at China's top five banks stand at about 11 percent on average, compared with the minimum regulatory requirement of 8 percent for all banks. On a sad note, the Wall Street Journal (subs req'd) reports that there are early signs the number of suicides in the U.S. crept up during the recent recession. The Journal's data covers about 40% of the U.S. population. Thirteen states, accounting for 30% of the U.S. population, reported more suicides in 2008. In Florida, for instance, suicides were up 6%, in Georgia, up 2.3%, and in North Carolina, up 7.8%. In six smaller states, which account for about 9.5% of the population, the number of suicides fell. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Nov 2009 | 7:09 am Deep Fried Stand
Source: Business Pundit | 23 Nov 2009 | 4:40 am
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