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Repay expenses or we dock pay and pensions, Speaker warns MPsMPs facing demands to pay back some of their expenses will have their salaries and pensions docked if they try to avoid repayment, the Speaker said yesterday. Source: Latest Business News from Times Online | 3 Dec 2009 | 12:27 pm Yen and dollar weaken in tandemGlobal Market Overview: The current importance of forex trends in determining the moves of other asset classes is highlighted by a tumbling yen, helping Japanese stocks soar to their best level in five weeksSource: Financial Times - US homepage | 3 Dec 2009 | 3:43 am Bank of America to repay bail-outBank of America says it plans to repay its $45bn (£27bn) US government bail-out and raise capital in the next few days.Source: BBC News | Business | World Edition | 3 Dec 2009 | 3:42 am RBS board could quit over bonusesRoyal Bank of Scotland directors threaten to resign if they are stopped paying bonuses they consider appropriate.Source: BBC News | Business | World Edition | 3 Dec 2009 | 3:42 am Goldman Sachs (GS) Explain Comp To Big ShareholdersGoldman Sachs (NYSE:GS) has started to meet with its largest shareholders to defend the millions, and in some cases tens of millions, that it pays its management and star bankers. The Wall Street Journal reports that Goldman “has begun meeting with major investors in an effort to ward off an investor backlash over its record compensation [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Dec 2009 | 3:29 am GE (GE): Cash Rich, Strategy PoorGE (NYSE:GE) will pick up close to $15 billion in cash as part of its deal to pass a majority interest in its NBCU unit to Comcast (NASDAQ:CMCSA). GE has not done much with the businesses that will be left when its entertainment business is gone, so investors will have to ask if a cash-based balance sheet improvement [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Dec 2009 | 3:26 am American, TPG offer $1.1 billion to JAL to block Delta (Reuters)
Source: Yahoo! News: Business | 3 Dec 2009 | 3:13 am American, TPG offer $1.1 billion to JAL to block DeltaTOKYO (Reuters) - American Airlines said it and other members of the Oneworld airline alliance along with private equity fund TPG are willing to invest $1.1 billion in Japan Airlines to prevent it defecting to Delta Air Lines and the rival Skyteam group.Source: Reuters: Business News | 3 Dec 2009 | 3:13 am UK banks have $5 bln exposure to Dubai World: reportLONDON (Reuters) - Four British banks have a $5 billion combined exposure to Dubai World, making them the biggest foreign creditor group at the Dubai state-owned conglomerate, the Financial Times said on Thursday.Source: Reuters: Business News | 3 Dec 2009 | 3:11 am Economic Report: British services-sector recovery slowsBusiness activity in Britain’s services sector slowed slightly in November, according to a monthly survey of purchasing managers.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 3:10 am Poverty on the rise, says reportPoverty has been rising in the UK since 2004 and is now at the same level as the start of the decade, a report says.Source: BBC News | Business | World Edition | 3 Dec 2009 | 3:08 am Fiat's Marchionne drives changeFor attention to style, an investor-friendly focus on financial performance, improvements in consumer products and an eye for the big deal, Sergio Marchionne is a finalist for this year's MarketWatch CEO of the Year award, a first for the head of a European-based company.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 3:00 am Wasting Time At The Jobs SummitThe ADP private sector jobs report says that 169,000 people became unemployed in November. This means that the government figures on unemployment for last month will likely indicate that the jobless population went up by 200,000 or more. Experts give a large range of figures, but at least seven million people are out of work [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Dec 2009 | 2:56 am GM's visionElectric driving with a back-up petrol engineSource: BBC News | Business | World Edition | 3 Dec 2009 | 2:54 am Peugeot weighs buying Mitsubishi stakePSA Peugeot Citron is considering buying a stake in Mitsubishi Motors as part of an expanded partnership between the French and Japanese carmakers, as the prolonged industry slump increases pressure on...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 2:53 am New business boosts UK's economic 'engine room'Britain’s services sector continued to expand last month, suggesting that the economy is improving in the run-up to next week’s crucial Pre-Budget Report, which will set the agenda for the next general election. Source: Latest Business News from Times Online | 3 Dec 2009 | 2:49 am BBVA lifts stake in China Citic BankBBVA, Spain's second-largest bank, on Thursday announced that it had spent a further 1bn ($1.5bn) to lift its stake in China Citic Bank, cementing its strategic position in the mainland's banking market...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 2:45 am Lord Mandelson urges pay restraint at banksBanks across the industry need to exercise restraint on bonuses, British business secretary Peter Mandelson said on Thursday as RBS and Barclays reignited the row over bank pay.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 3 Dec 2009 | 2:44 am Is Wal-Mart recovery-proof?Throughout the recession, wealthier households "traded down" and started to shop at Wal-Mart for the first time. As a result, the world's largest retailer saw its market share in general merchandise rise as the economy went south. Wal-Mart's stock jumped 20% in 2008, but this year its shares are down about 8%, as investors anticipate a recovery that could get shoppers -- especially the company's new upscale clientele -- thinking about more than everyday low prices.Source: Business and financial news - CNNMoney.com | 3 Dec 2009 | 2:37 am London Markets: Oil producers, miners lead LondonCommodity-sector firms helped lift the broader London market on Thursday, with oil producers and miners boosted by higher oil and metal futures.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 2:36 am Peugeot may be Mitsubishi Motors' top shareholderMitsubishi Motors and France’s Peugeot are reportedly negotiating a capital tie-up that could give the French firm a 30% to 50% stake in the struggling Japanese automaker.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 2:35 am Why cheap oil is here to stayBecause oil prices have always been directly related to the strength of the economy, a recovery might have seen headlines like these:Source: Business and financial news - CNNMoney.com | 3 Dec 2009 | 2:34 am Stocks ready for a boostStocks were set to open higher Thursday as investors consider Bank of America's decision to pay back all of its federal bailout funds.Source: Business and financial news - CNNMoney.com | 3 Dec 2009 | 2:28 am Japan leads gains seen across most of AsiaJapan led stock market gains in Asia Thursday as concerns over the strong yen eased, driving shares of exporters significantly higher.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 2:26 am Stock index futures signal gains; BoA eyed(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.62 percent, Dow Jones futures up 0.47 percent and Nasdaq 100...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 2:22 am Stock index futures signal gains; BoA eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 3 Dec 2009 | 2:22 am Stock index futures signal gains; BoA eyed (Reuters)
Source: Yahoo! News: Business | 3 Dec 2009 | 2:22 am Stock index futures signal gains; BoA eyed(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.62 percent, Dow Jones futures up 0.47 percent and Nasdaq 100 futures up 0.52 percent at 0900 GMT (4 a.m. EST).Source: Reuters: Business News | 3 Dec 2009 | 2:22 am Siemens quarterly loss narrows to $1.7 billionGerman engineering group Siemens on Thursday reported a 1.13 billion euro ($1.7 billion) quarterly loss after taking a write-down on the value of its half-owned telecom equipment venture.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 2:22 am Yen and dollar weaken in tandem09:15 GMT. The current importance of forex trends in determining the moves of other asset classes was amply illustrated on Thursday, as a tumbling yen helped Japanese stocks soar to their best level in...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 2:21 am Marston's hit by property chargesPub and brewing company Marston's reports a big fall in profits after losing money on property, but says trading is improving.Source: BBC News | Business | World Edition | 3 Dec 2009 | 2:20 am Kingfisher warns of economic risks for UKStrong growth at B&Q hardware stores in its home market and Poland buoyed late summer sales at Kingfisher, but the DIY retailer warned of the risks posed by a return to recession in the UK.The group...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 2:11 am Media Digest 12/3/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: Affluent borrowers are being made credit card offers. Most other people are rarely solicited. Reuters: Bank of America (NYSE:BAC) will repay $45 billion in TARP funds. Reuters: AMR (NYSE:AMR) and TPG have offered JAL $1.1 billion in investment capital to block an investment from Delta (NYSE:DAL). Reuters: Bernanke will defend the Fed’s role as he seeks a second term. Reuters: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Dec 2009 | 1:57 am Europe Markets: European shares up for third straight sessionEuropean shares moved higher for the third straight session on Thursday in a broad-based move, with Peugeot among notable gainers on a possible alliance with Mitsubishi Motors.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 1:57 am Risk rally continues in LondonLondon equities continued to make progress on Thursday, with a more bullish mood in the heavily-weighted banking and mining sectors driving the gains. The FTSE 100 rose 33 points to 5,360.32, a rise of...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 1:53 am Peugeot in Mitsubishi link talksThe French car maker Peugeot says it is in tie-up talks with Mitsubishi Motors, sending Mitsubishi shares up sharply.Source: BBC News | Business | World Edition | 3 Dec 2009 | 1:52 am Activists: Despair in N.Korea over currency changeNorth Korean authorities threatened "merciless punishment" for defiance of new currency rules, activists said Thursday, as the change sparked panic and despair among merchants left with...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 1:47 am Marston's cautious despite sales liftMarston's, the brewing company, on Thursday said it had seen further improvement in trading in October and November, although it remained cautious for 2010.The brewer of the Marston's, Jennings and Banks's...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 1:47 am Peugeot Citroën in talks to rescue MitsubishiPSA Peugeot Citroën is in talks to inject 300 billion yen (£2 billion) into Japan’s struggling Mitsubishi Motors and form an alliance that would represent the world’s sixth-largest automotive group and a potential European powerhouse for electric vehicles. Source: Latest Business News from Times Online | 3 Dec 2009 | 1:47 am Costco November same-store sales miss estimates(Reuters) - Costco Wholesale Corp reported a six percent rise in November same-store sales, helped by an increase in gasoline prices and a weaker U.S. dollar, but missed market estimates.Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 1:44 am ECB to set exit in slow-motion, staff to up forecastsFRANKFURT (Reuters) - The European Central Bank is set to begin the delicate process of phasing out its financial crisis support on Thursday, backed by new staff forecasts which should show greater economic optimism.Source: Reuters: Business News | 3 Dec 2009 | 1:43 am ECB to set exit in slow-motion, staff to up forecasts (Reuters)
Source: Yahoo! News: Business | 3 Dec 2009 | 1:43 am Asian markets extend gains as yen weakens (AP)
Source: Yahoo! News: Stock Markets News | 3 Dec 2009 | 1:42 am British driver face higher premiums to cover car insurers' lossesBritish drivers face higher premiums next year to cover what are expected to be the first losses in nine years at car insurers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 3 Dec 2009 | 1:40 am Asia Market And Europe Open (12/3/2009)Market in Asia were mixed. The Nikkei rose 3.8% to 9,978. The Hang Seng rose .13% to 22,554. The Shanghai Composite fell .2% to 3,265. At the open in Europe, teh FTSE rose .6% to 5,359. BHP Billion (NYSE:BHP) rose. The Dax was up .8% to 5,827. Siemens (NYSE:SI) fell. The CAC 40 moved higher by .8% to 3,827. Data [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 3 Dec 2009 | 1:28 am Metals Stocks: Gold taps more records, tops $1,225Gold futures extend their record climb, jumping past $1,226 an ounce, as investment demand continued to strengthen. Still, some analysts see a bubble forming.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 1:27 am Kingfisher lifted by 'self-help' strategyKingfisher, Europe's biggest home improvement retailer, has posted better than expected results for the third quarter, with underlying profits up 28 per cent. Source: Latest Business News from Times Online | 3 Dec 2009 | 1:21 am Tarnished Tiger?How have Woods' woes hit the golfer's brand?Source: BBC News | Business | World Edition | 3 Dec 2009 | 1:08 am World Bank chief talks up Asia role in recoveryAsia will have to play a bigger part in the global recovery than in previous downturns as US consumers are cash-strapped, World Bank chief Robert Zoellick said in an interview published...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 1:06 am ECB to set exit in slow-motion, staff to up forecastsFRANKFURT (Reuters) - The European Central Bank is set to begin the delicate process of phasing out its financial crisis support on Thursday, backed by new staff forecasts which should showSource: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 1:03 am B&Q sales boosted by DIY interestB&Q reports a big rise in sales thanks to renewed interest in DIY among consumers and better-than-expected weather.Source: BBC News | Business | World Edition | 3 Dec 2009 | 1:00 am BofA gets U.S. approval to repay its $45-billion TARP debt in fullIt will be the first bank that got extraordinary taxpayer assistance to completely pay off its bailout. The move will help it find a new CEO.Bank of America Corp. has received government permission to pay back $45 billion in taxpayer aid that helped the company survive the financial crisis, a step that would terminate the federal pay restrictions that have inhibited its search for a new chief.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am BofA gets U.S. approval to repay its $45-billion TARP debt in fullIt will be the first bank that got extraordinary taxpayer assistance to completely pay off its bailout. The move will help it find a new CEO. ...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 1:00 am Business BriefingFed finds modest growth
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am Economy takes toll on Long Beach motorcycle showThis weekend's gathering will have fewer exhibitors and be missing some major players but the public is still showing up, so far.The motorcycle industry has been in a major slump this year, but the local convocation of biker bigwigs, flashy steel and looky-loos will go on this weekend -- on a diminished scale.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am For Steve Burke, Comcast job is the role of his lifeThe Comcast chief operating officer's resume and bloodlines prepare him for the task of making a union with NBC Universal work. ...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 1:00 am For Steve Burke, Comcast job is the role of his lifeThe Comcast chief operating officer's resume and bloodlines prepare him for the task of making a union with NBC Universal work.Comcast Corp.'s plan to take control of entertainment giant NBC Universal -- expected to be announced this morning -- will crown Comcast Chief Executive Brian Roberts as Hollywood's newest mogul, even though Roberts lives and works in Philadelphia.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am Stakes rising for cable TV firms and content providersProgrammers signal that they want upcoming contract talks with cable and other distribution companies to involve cash.The quality of programming being what it is, I was listening to my TV with half an ear a few nights ago, most of my attention being devoted to a self-improvement book, when I thought I heard a voice from the screen say that Time Warner Cable needed my help.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am Home buyers will have to lay out more cash for an FHA mortgageThey'll also need to have higher minimum credit scores under changes announced by HUD Secretary Shaun Donovan.Reporting from Los Angeles and Washington Alejandro Lazo -- Thousands of Southern California home buyers, and millions nationwide, will have to come up with more cash and reach higher minimum credit scores to get a government-backed mortgage under changes unveiled by the Federal Housing Administration.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am 25.6% of U.S. households use conventional banks little or not at allA disproportionate amount of those that are either 'underbanked' or 'unbanked' are low-income and minority families, including more than half of black households, according to an FDIC survey.More than a quarter of American households have limited or no interaction with conventional banks, making it more difficult for those families to establish credit, according to the first-ever federal survey of how consumers use financial services.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am GM management shuffle forces executive to switch gearsGeneral Motor Co.'s vice chairman, Bob Lutz, came to the Los Angeles Auto Show primed to talk about the company's Chevy Volt, its electric vehicle rolling out next year.Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 1:00 am Bernanke confirmation hearing likely to be contentiousThough the Fed chairman is favored to win a second term, he'll first have to face lawmakers angry over his handling of the financial crisis and ready to rein in the central bank's powers.Federal Reserve Chairman Ben S. Bernanke may be heavily favored to win Senate confirmation for a second term, but he faces a far tougher challenge in trying to beat back efforts by angry lawmakers to curb the Fed's independence as an arbiter of economic policy.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am Bernanke confirmation hearing likely to be contentiousThough the Fed chairman is favored to win a second term, he'll first have to face lawmakers angry over his handling of the financial crisis and ready to rein in the central bank's powers. ...Source: RSS feed - channel BNPaperBusiness | 3 Dec 2009 | 1:00 am GM management shuffle forces executive to switch gearsGeneral Motor Co.'s vice chairman, Bob Lutz, came to the Los Angeles Auto Show primed to talk about the company's Chevy Volt, its electric vehicle rolling out next year.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am Police station with a dark past is up for saleThe Westlake-district building was until recently an outpost of the LAPD's Rampart division. Occupants included the anti-gang CRASH unit, which was accused of abusing suspects.For sale: One police station in the middle of Los Angeles. Slightly used.
Source: L.A. Times - Business | 3 Dec 2009 | 1:00 am Siemens reports quarterly loss of 1 bln eurosGerman industrial giant Siemens said Thursday it suffered a net loss of one billion euros (1.5 billion dollars) in the last quarter of its 2008/09 fiscal year, and expected the current yearSource: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 12:55 am Peter Brimelow: Top letter fears the 'traitor' in the marketStocks stall again, and a top letter is getting tense about what it calls a 'traitor' in the market, writes Peter Brimelow.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 12:55 am Peugeot Citroen, Mitsubishi in talksFrench carmaker PSA Peugeot Citroen said Thursday it is in talks with Mitsubishi Motors Corp. that could lead to a "strategic partnership." In a statement, France's biggest automaker...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 12:52 am Currencies: Dollar slips against most rivals but gains on yenThe dollar falls against most major rivals, as gains in most equities markets prompt investors to seek higher-yielding, and often more volatile, currencies.
Source: MarketWatch.com - Top Stories | 3 Dec 2009 | 12:50 am Blanchflower attacks King over secret HBOS loanMervyn King, the Governor of the Bank of England, did not tell members of the interest rate-setting body about £62 billion of secret loans granted to HBOS and Royal Bank of Scotland, it has emerged. Source: Latest Business News from Times Online | 3 Dec 2009 | 12:49 am New bid in Japan Airlines tussleAmerican Airlines offers investment in the struggling Japan Airlines, saying the bid is "far superior" to Delta's.Source: BBC News | Business | World Edition | 3 Dec 2009 | 12:47 am UPDATE 7-Peugeot, Mitsubishi seek deeper ties as downturn bites* Peugeot in talks to acquire 30-50 pct in Mitsubishi - Nikkei * Deal likely to be worth around $2.3 bln-$3.4 bln - Nikkei * Peugeot "ideal" partner for Mitsubishi Motors - analyst * Mitsubishi group...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 12:46 am US man convicted of 3.65 bln dlr Ponzi schemeA federal jury found a Minnesota man guilty of running a 3.65 billion dollar Ponzi scheme that fleeced customers for more than 10 years, the Justice Department said in a statement. ...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 12:42 am Siemens reports 4Q net loss of $1.65 billionGermany's Siemens AG has reported a net loss for its fiscal fourth quarter of euro1.1 billion ($1.65 billion), caused mostly by a write-down on its Nokia Siemens Networks business. The...Source: RSS feed - channel BNewsBusiness | 3 Dec 2009 | 12:41 am Bernanke, seeking second term, to defend Fed role (Reuters)
Source: Yahoo! News: Business | 3 Dec 2009 | 12:40 am Bernanke, seeking second term, to defend Fed roleWASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Thursday will push back at efforts to curb the Fed's power as he goes before lawmakers considering his nomination to a second term at the central bank's helm.Source: Reuters: Business News | 3 Dec 2009 | 12:40 am Bhopal recalls gas disasterResidents of the Indian city of Bhopal mark 25 years since a gas leak killed thousands and made many more ill.Source: BBC News | Business | World Edition | 3 Dec 2009 | 12:31 am Fed chairman Ben Bernanke faces grilling in confirmation hearing for second termFederal Reserve chairman Ben Bernanke will today be grilled by a powerful US Congressional committee as he sets out his case for his second four-year term in office.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 3 Dec 2009 | 12:30 am LSE chief Xavier Rolet sees only five bourses in ten yearsConsolidation among the world's stock markets could mean that in five to 10 years there are only five bourses, the head of the London Stock Exchange said in a newspaper interview.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 3 Dec 2009 | 12:26 am Aussie stocks close slightly higherMELBOURNE - The Australian sharemarket closed slightly higher on Thursday, with a mixed performance from blue-chip stocks after an uninspiring lead from United States markets.At the 1615 AEDT close, the benchmark S&P/ASX200 index...Source: nzherald.co.nz - Business | 2 Dec 2009 | 11:58 pm Monster U.S. online jobs index slips in NovemberNEW YORK (Reuters) - U.S. online job postings fell slightly in November, due to a dip in demand for health care-related positions and employers' continued unease regarding economic recovery, a private research group said on Thursday.Source: Reuters: Business News | 2 Dec 2009 | 11:47 pm Ex-Ford execs lead rival bid for Volvo: report(Reuters) - A group led by former Ford Motor Co executives has submitted a revised bid this week for Ford's Volvo unit and hopes to beat the offer by Chinese carmaker Zhejiang Geely Holding Group, the Wall Street Journal reported citing people familiar with the situation.Source: Reuters: Business News | 2 Dec 2009 | 11:42 pm Asian stock markets rise for third dayMost Asian markets rose a third straight day on Thursday as a weakening yen buoyed Japanese stocks and an upbeat assessment from the Federal Reserve helped confidence in the US economy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Dec 2009 | 11:42 pm BofA's $45 bln repayment clears way for new CEOBank of America chief executive Ken Lewis may have fouled things up by poorly executing on a series of takeovers during the financial crisis. But with BofA's imminent payback of $45 billion of U.S. government assistance, unveiled Wednesday evening, his successor will be able to focus on reawakening the dormant banking monster - and can even get paid for the job.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Dec 2009 | 11:18 pm City more threatened by Britain's political masters than Sarkozy and BrusselsLondon's position as one of the world's premier financial centres has been the envy of Paris for generations. Ever since the Napoleonic wars, when high finance was harnessed to the purpose of France's eventual defeat, the French political class has hated, feared and admired the City in equal measure.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Dec 2009 | 10:51 pm NZ dollar firm against AussieThe New Zealand dollar was firm against the Australian dollar today even though the Australian dollar was itself in favour with investors.By 5pm the NZ dollar was buying A78.16c, up from A78.04c at 8am but still below the A78.45c...Source: nzherald.co.nz - Business | 2 Dec 2009 | 10:33 pm Bernanke confirmation hits new hurdleBen Bernanke faces a tougher path to being reconfirmed as Federal Reserve chairman after an independent senator put a hold on his confirmationSource: Financial Times - US homepage | 2 Dec 2009 | 10:30 pm 5 Free Phone Apps for Holiday Savings (Deal of the Day)Do you know where the deals are? How to track them on your mobile device.
Source: SmartMoney.com | 2 Dec 2009 | 10:00 pm Personal Loans Stage a Comeback (Bank Notes)Long ignored by banks and consumers, loans are drawing more applicants.
Source: SmartMoney.com | 2 Dec 2009 | 10:00 pm 3 Stocks With Good Dividends and Rising Sales (Screens)Hough: These companies offer investors ample income and reliable growth.
Source: SmartMoney.com | 2 Dec 2009 | 10:00 pm Knowing Your Own Risk ToleranceInterview with Michael Cembalest: The stimulus feeds a cautious outlook.
Source: SmartMoney.com | 2 Dec 2009 | 10:00 pm Commodity prices surge in November, dairy up 22pcThe ANZ Commodity Price has again surged higher, with a 10.5 per cent jump in prices for the month, underpinned by a 22 per cent hike in world dairy prices.It is the second largest monthly increase on record and the index has...Source: nzherald.co.nz - Business | 2 Dec 2009 | 9:00 pm Allied says it can get more value out of Hanover loan bookAllied Farmers, the listed rural services company, is confident it can realise more value in Hanover's loan books than the failed finance company can operating under its moratorium.Chief executive John Loughlin told brokers in...Source: nzherald.co.nz - Business | 2 Dec 2009 | 8:30 pm Capital spending rise to test NZ's poor savings recordNew Zealand's poor savings record and reliance on money from overseas to fund investment spending will be tested if capital spending such as house building picks up, BNZ Capital senior economist Craig Ebert says.This country had...Source: nzherald.co.nz - Business | 2 Dec 2009 | 8:00 pm Retail sales lift across TasmanRetail sales in Australia have rebounded from September, with a modest rise in October.The seasonally adjusted Australian Bureau of Statistics figures estimate that Australians spent A$19.75 billion in retail outlets during October.Department...Source: nzherald.co.nz - Business | 2 Dec 2009 | 7:35 pm Fonterra retains share price, promises 20c-30c dividendFonterra today gave its 10,500 farmers a gentle introduction to corporate life by holding their share price steady at $4.52 - despite a valuation of only $3.83 when the illiquid market for the shares is taken into account.It also...Source: nzherald.co.nz - Business | 2 Dec 2009 | 7:30 pm Goldman Sachs meets investors about exec pay: reportNEW YORK (Reuters) - Goldman Sachs Group Inc is meeting with major investors in an effort to head off a possible investor backlash over its record bonuses, the Wall Street Journal reported on Wednesday.Source: Reuters: Business News | 2 Dec 2009 | 7:14 pm House prices 'back at 2007 levels'The steady upward march of Auckland house prices showed no signs of abating in November, with the average price reaching a 23-month high of $550,000.This was an increase of 1 per cent on the average price for October, and 9.9...Source: nzherald.co.nz - Business | 2 Dec 2009 | 7:00 pm Early fireworks in Bernanke confirmation dramaOn the eve of what's expected to be a tough confirmation hearing Thursday, one senator has thrown a political roadblock intended to stymie Fed Chairman Ben Bernanke's second term.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 6:51 pm Night market plan for Auckland CBDA new night market for Auckland's central business district is being proposed by the Auckland City Council and a business group says it has no doubt there'll be interest in setting one up. The private sector is being asked to...Source: nzherald.co.nz - Business | 2 Dec 2009 | 6:30 pm CME nears deal with banks on CDS clearingCME Group, the world’s biggest futures exchange, is nearing a breakthrough deal with some of the world’s biggest banks to clear credit default swaps, according to people close to the negotiationsSource: Financial Times - US homepage | 2 Dec 2009 | 6:25 pm Wal-Mart to pay $40M to workers in Mass. (AP)
Source: Yahoo! News: Business | 2 Dec 2009 | 6:22 pm Bank of America to repay TARPNEW YORK (Reuters) - Bank of America Corp said it would repay $45 billion of taxpayer bailout funds, a move that could free the top U.S. lender from pay curbs as it looks to hire a new CEO but also makes it more vulnerable to further economic shocks.Source: Reuters: Business News | 2 Dec 2009 | 5:45 pm Bank of America to repay TARP (Reuters)
Source: Yahoo! News: Business | 2 Dec 2009 | 5:45 pm Big-Cap Growth Led In November On Wings Of Rally (Investor's Business Daily)Investor's Business Daily - The precious metals sector led stock funds in November as they snapped back from declines in October. Bond funds invested in Treasuries generally edged those in corporates as investors ducked for cover when the Dubai default crisis exploded.Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 5:42 pm BofA to return $45 billion to taxpayersBank of America said Wednesday it planned to return the entire $45 billion in bailout money it received from the government over the past year.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 5:38 pm BofA to repay $45bn in Tarp fundsBank of America has reached an agreement with regulators to pay back $45bn in funds from the Troubled asset relief programmeSource: Financial Times - US homepage | 2 Dec 2009 | 5:36 pm Comcast bid values NBC venture at $37bnComcast’s long-awaited bid for control of NBC Universal will value the new joint venture with General Electric at a larger-than-expected $37.25bn, including a higher valuation on the US cable group’s pay-television stations and the potential for a larger cash outlay than analysts had foreseenSource: Financial Times - US homepage | 2 Dec 2009 | 5:31 pm Millions in US lack bank accessSome 60m adult Americans live without a bank account or rely on pawn shops and other non-bank operations to handle their finances, according to a landmark government report that led to calls for banks to expand access to their servicesSource: Financial Times - US homepage | 2 Dec 2009 | 5:27 pm Del Ama Sees Chinese Consumer Spending Rising: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 5:26 pm GE, Comcast to announce NBCU dealNEW YORK (Reuters) - General Electric Co and Comcast Corp are set to announce a joint venture on Thursday morning that would give the cable company eventual control of NBC Universal in this year's biggest media deal.Source: Reuters: Business News | 2 Dec 2009 | 5:22 pm In your Facebook. Daughter of GM chief Fritz Henderson takes online revengeIf anybody needed a lesson on what not to do when dad loses his job, Sarah Henderson, daughter of General Motors’ ousted chief executive Fritz Henderson, has the answer. Source: Latest Business News from Times Online | 2 Dec 2009 | 5:01 pm Habitat bid war likely to be over before ChristmasHabitat, the home furnishing chain founded by Sir Terence Conran in 1964, is set to have a new owner as soon as next week, with its management team and Hilco, the restructuring specialist, front-runners to buy it. Source: Latest Business News from Times Online | 2 Dec 2009 | 5:01 pm Northrop Grumman and EADS threaten to pull out of Pentagon dealNorthrop Grumman and EADS have threatened to pull out of a $40 billion ($£24 billion) battle to build aircraft refuelling tankers for the Pentagon, endangering a $6 billion windfall for Airbus in Britain.$ Source: Latest Business News from Times Online | 2 Dec 2009 | 5:01 pm OFT faces new legal fight as builders line up to challenge their fines for bid-riggingThe Office of Fair Trading (OFT) is facing another costly legal battle after 25 construction companies contested penalties imposed by the competition regulator for illegally inflating bids for building tenders. Source: Latest Business News from Times Online | 2 Dec 2009 | 5:01 pm Caught between a rock and a hard placeThe issue of bankers’ bonuses is tricky enough for the Government already. But ministers appear to have painted themselves into an even tighter corner by insisting that RBS state publicly that the Treasury has a veto over the size of its 2009 bonus pool. Source: Latest Business News from Times Online | 2 Dec 2009 | 5:01 pm Stolen U.S. property reward program squashedA plan to coax government workers to return Uncle Sam's property in return for cash incentives was put to an end Wednesday, according to a congressman.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 5:00 pm Barclays bankers to get 150pc pay riseBarclays is set to award its 22,000 investment bankers big salary rises to beat Government clampdown on bonuses, as RBS board threatens to resign en masse over pay controls.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Dec 2009 | 5:00 pm Twitter founder Jack Dorsey launches iPhone payment productOne of the founders of Twitter has launched a new e-payment technology which he hopes will revolutionise the way consumers pay for goods and services.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Dec 2009 | 4:59 pm US Air Force's $40bn aerial refuelling tanker contract hangs in the balanceThe fate of a controversial $40bn (£24bn) US air tanker contract hangs in the balance after a main player in one of only two consortia threatened to pull out of the running.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 2 Dec 2009 | 4:31 pm CIC in €800m offer to ApaxChina Investment Corp is offering to invest as much as €800m into Apax Partners’ €11.2bn private equity fund in a deal that illustrates China is still eager to invest abroad in spite of being burned in the pastSource: Financial Times - US homepage | 2 Dec 2009 | 4:30 pm Need jobs now - White HouseWith rising unemployment stymying the president's economic revival plans, the Obama administration is huddling with business leaders, academics and other experts Thursday to find a way to jumpstart hiring.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 4:27 pm Why Main Street isn't hiringWith unemployment at its highest rate in a generation, Washington's policymakers are zooming in this week on a thorny part of the problem: Starved for credit and sales, small companies aren't hiring.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 4:19 pm How the major stock indexes fared on Wednesday (AP)AP - The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in banks and energy companies. Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank said consumers have increased spending even as employment and commercial real estate remain weak.Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 4:17 pm 17 million Americans have no bank accountNew York State is known as the nation's financial capital, yet nearly one in 10 of its residents do not have a checking or savings account.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 4:11 pm Stocks mostly rise as Fed sees improving economy (AP)
Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 4:10 pm UK banks owed $5bn by Dubai WorldLending believed to be focused on the still-performing parts of emirate holding company, including DP World and Jebel Ali Free ZoneSource: Financial Times - US homepage | 2 Dec 2009 | 4:05 pm UN says fragile world economy will grow by 2.4pc in 2010UNITED NATIONS - The United Nations has forecast that the world economy will bounce back in 2010 with a global growth rate of 2.4 per cent, but it warned that the recovery will be fragile.In a preview of its annual economic forecast...Source: nzherald.co.nz - Business | 2 Dec 2009 | 4:00 pm Nasdaq Stock Market delists 4 small companies (AP)AP - The Nasdaq Stock Market on Wednesday said it will delist the stocks of four small companies.Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 3:57 pm Write-Offs: 12.02.09$$$ Charlie Gasparino: Bank of America to Repay TARP [CNBC] $$$ "They are introverts, some are socially awkward, and they don't seek publicity. They are the type of guys you would see at a Star Wars convention," said Sang Lee of Aite Group, on high frequency traders. $$$ Hedge Fund Shaker Settles With Old-School Movers [NYO] $$$ Can "Nice Girls" Negotiate? [HBS Blog] $$$ Jury finds Petters guilty in $3.5B fraud case [AP] $$$ GM needs a year to find a new CEO. [Bloomberg] 
 Source: Dealbreaker | 2 Dec 2009 | 3:34 pm Bank of America Free to Exit TARP (BAC)Bank of America Corporation (NYSE: BAC) will soon be out of the TARP. The report was first out by CNBC’s Charlie Gasparino right after 5 PM that Bank of America is about to do a large capital raise to exit out of the TARP. Then the Wall Street Journal reported that Bank of America will [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Dec 2009 | 3:24 pm Podcast: Eye On Dubai
How many snowdomes does one gulf state need? (Chris Jackson/Getty Images) On today's Planet Money: The announcement earlier this week, that Dubai World, a company owned by the government of Dubai, was hoping to delay payment on $26 billion in debt sent stock markets across the world plummeting. Analysts were watching to see if investors would pull out of banks and investment firms with exposure in the Middle East or flee risky markets altogether. By now, fears of Dubai's credit crisis spreading outside the country appear to have abated, but questions about Dubai remain, like, "what in the world were they thinking?" Dr. Christian Koch of the Gulf Research Center, says Dubai has a good economic strategy, but things got too crazy, too quickly. To Jane Meikle, a Canadian who has spent the last four years living in Dubai, sure the place went a little crazy, but that's part of what makes it so great. She talks about the upside of life in a gulf state boom town, where everyone is from somewhere else. Download the podcast; or subscribe. Music: Weezer's "Island In The Sun." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Dec 2009 | 3:23 pm GM focuses on the VoltGeneral Motors tried to keep the focus on its cars at the 2009 Los Angeles Auto Show even as the carmakers' plans were disrupted by the abrupt resignation of its chief executive just the afternoon before.Source: Business and financial news - CNNMoney.com | 2 Dec 2009 | 3:14 pm Fed's Lacker flags need for exit, favors asset sales (Reuters)Reuters - The U.S. Federal Reserve must remain alert to lurking inflation risks, and could begin removing monetary stimulus by selling some of the mortgage debt it acquired during the financial crisis, a top central bank official said on Wednesday.Source: Yahoo! News: Business | 2 Dec 2009 | 3:00 pm London Calling, Brussels Ignoring
After losing its battle to keep an unfriendly Frenchman out of the EU's top financial regulatory spot, the Brits were again rebuffed in their efforts to make it easier to ignore any untoward diktats from Brussels. So if when the new European Systemic Risk Board decides to step in, London's going to have to garner the support of 13 other countries to get the ruling overturned. Britain had wanted that burden to fall on the regulator. "The U.K. had some major difficulties in accepting that the new European bodies"--covering banking, securities, and insurance and pensions--"would be able to take decisions," a guy from Luxembourg said. Luxembourg!
Source: Dealbreaker | 2 Dec 2009 | 2:49 pm Delta, Walgreen, Diedrich Coffee are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 2:48 pm Victoria's Secret Model: You Have To Respect The Dollar
Source: Dealbreaker | 2 Dec 2009 | 2:45 pm Happy Birthday, Erin Callan!
Source: Dealbreaker | 2 Dec 2009 | 2:20 pm Monteiro on Banco do Brasil, Ross on Equities, Dollar: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 2:14 pm Beige Book Offers Good News; Markets UnimpressedBy Daniel Costello The U.S. Federal Reserve Beige Book survey released Wednesday showed the economy expanded or improved modestly across most of the U.S. between October and November as consumer spending rose and manufacturing improved. Consumer spending strengthened since the last report, with sales of both general merchandise and autos improving across much of the country. Non-auto sales were reported to have picked up in the New York, Philadelphia, Cleveland, Richmond, Atlanta, Kansas City, and San Francisco Districts; sales were described as steady or mixed in the Boston, Chicago, Minneapolis, and Dallas Districts. St. Louis described retail sales as below expectations and down from a year earlier. Auto sales generally improved since the last report, in some cases rebounding from a brief dip after the "cash-for-clunkers" program ended. Commercial real estate and the job market remained weak, the report found. Market conditions were reported to have weakened in virtually all Districts, with rising vacancy rates, downward pressure on rents, and little, if any, new development. Expectations for 2010 were also quite low. Boston characterized the commercial real estate outlook as "bleak," Dallas noted that construction was at "historically low levels," and Kansas City described the sector as "distressed." Investors appeared to play down the news in afternoon trading. The Beige Book is a U.S. Federal Reserve report on the economy issued eight times a year and is used to help set policy at regular Federal Open Market Committee meetings. The next meeting will be held in two weeks. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Dec 2009 | 1:48 pm Search begins to fill GM’s hotseatAs job descriptions for chief executive posts in industry go, taking over the top job at General Motors is singularly unappealingSource: Financial Times - US homepage | 2 Dec 2009 | 1:46 pm Biotech cos. rise as gov't OKs new stem cell lines (AP)AP - Shares of companies developing stem cell therapies surged Wednesday on news that the federal government has cleared 13 new stem cell lines for testing, bringing to a close nearly a decade of restrictions.Source: Yahoo! News: Business | 2 Dec 2009 | 1:39 pm Biotech cos. rise as gov't OKs new stem cell lines (AP)AP - Shares of companies developing stem cell therapies surged Wednesday on news that the federal government has cleared 13 new stem cell lines for testing, bringing to a close nearly a decade of restrictions.Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 1:39 pm GM CEO Whitacre May Stay Until He Is 100GM Chairman and interim CEO Ed Whitacre said he has no idea how long it will take to find a permanent chief. He told GM employees it could take a year. He is not certain. It may even take longer. Bloomberg was able to get a copy of Whitacre’s remarks to employees. In his comments he [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Dec 2009 | 1:37 pm Stem Cell Stocks Take Off (ASTM, GERN, OPXA, STEM)Tickerspy’s Stem Cell Stock Index (*RSXTM) took off today, rising nearly 13%. The movement followed a release from the National Institutes of Health (NIH) announcing that 13 embryonic stem cell lines were approved for funding. Opexa Therapeutics Inc (NASDAQ: OPXA) led the rise in stem cell stocks, surging over 40%. The company seeks to develop treatments [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Dec 2009 | 1:35 pm Silvia Sees U.S. Unemployment Peaking at 10.6%: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 1:29 pm The 10 Strangest Mutual Funds (U.S. News & World Report)U.S. News & World Report - When mutual funds step off the beaten path, there's no telling what will happen. In the past, for example, oddball funds have fought the war on terror (the Ancora Homeland Security Fund), tried to prop up the sky (the Chicken Little Growth Fund), and fantasized about swinging a presidential election (the Blue Fund). And although those three particular funds--all of which have been liquidated--failed, others have stepped in to carry the torch and preserve a long and proud tradition of eccentric investing styles. Here are the 10 quirkiest funds we could find:Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 1:17 pm Snoop Dogg "Loves Magic Johnson's Business Model"
Source: Dealbreaker | 2 Dec 2009 | 12:37 pm Gold pushes TSX to 14-month high (Reuters)Reuters - Toronto's main stock index rose to its highest level in more than 14 months on Wednesday, adding to a big gain in the previous session, as record high gold prices sparked a rally in shares of gold miners.Source: Yahoo! News: Stock Markets News | 2 Dec 2009 | 12:24 pm Beige Book Turns Almost Optimistic in DecemberThe Federal Reserve Board’s Beige Book has offered a dismal report and dismal outlook for what is roughly two years now. That can’t be a shock considering how crummy the economy and job prospects have been. But today’s release of the Beige Book from the FRB has turned what will feel almost nothing short of [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Dec 2009 | 12:11 pm Leijonhufvud Sees Recovery Taking More Than 2 Years: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 12:09 pm The End Is Nigh For TARP
"We are close to the point where we can wind down this program and stop making new commitments," Geithner told a skeptical Senate panel today. How close? "We're not quite there yet." And certainly not in the next couple of weeks, when TARP is set to expire.
Source: Dealbreaker | 2 Dec 2009 | 12:06 pm US may revise Afghan withdrawal dateThe US has said that it may rethink its plan to begin withdrawing troops from Afghanistan by July 2011 if conditions on the ground prevent a security handover to the Afghan governmentSource: Financial Times - US homepage | 2 Dec 2009 | 12:03 pm Kati Marton Discusses Her Book `Enemies of the People': VideoSource: Bloomberg - All Podcasts | 2 Dec 2009 | 12:02 pm A Pirate "Stock" ExchangeBy Daniel Costello Gun-carrying pirates have been terrorizing shipping lanes around the Horn of Africa and the Indian Ocean in recent years as if they were living in the 16th century. The gangs have made tens of millions of dollars from ransoms, which are climbing even as nations have increased anti-piracy operations off the coast of Somalia. One reason for that? A bustling Somalia pirate "stock" exchange that is helping local investors make profits off pirates' ransoms. Located in Haradheere, about 250 miles northeast of Mogadishu, the exchange is open 24 hours a day. Business is so good the town is increasingly filled with luxury cars and other high priced goods. "Ransoms have even increased in recent months from between $2-3 million to $4 million because of the increased number of shareholders and the risks," one wealthy former pirate named Mohammed told Reuters. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 2 Dec 2009 | 12:01 pm Reynolds: Smoking to Smoking Cessation (RAI, GSK)Reynolds American Inc. (NYSE: RAI) has an interesting approach in M&A today. The deal is a tiny merger valued at $44 million when you consider that Reynolds has almost a $15 billion market cap, but this is a potential game-changer in tobacco. The company is acquiring all outstanding shares of the Swedish-based nicotine replacement therapy [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 2 Dec 2009 | 11:57 am Retailers tie holiday shopping to givingEven though a lot of people are spending less this year, the holidays will go on and gifts will be bought. So retailers and charities are teaming up to make shopping itself a gift that gives more than once. Stacey Vanek-Smith reports.Source: Marketplace | 2 Dec 2009 | 11:44 am Going to school on Afghans' problemsDecades of violent conflict in Afghanistan have left much of the country homeless, hungry and jobless. Greg Mortenson is trying to address those problems by building schools there. He joins Kai Ryssdal to talk about his efforts.Source: Marketplace | 2 Dec 2009 | 11:44 am Listeners comment on our coverageKai Ryssdal reviews listener comments about paying with cash instead of plastic, interest-rate swaps, the "slow media" movement, a proposed tax on cosmetic surgery, and more.Source: Marketplace | 2 Dec 2009 | 11:44 am Recovery goal: Jobs with good wagesCommentator and former Secretary of Labor Robert Reich will be in attendance at a White House jobs summit on Thursday. He offers a sneak preview of what he plans to say there.Source: Marketplace | 2 Dec 2009 | 11:44 am Can Wal-Mart cause deflation?Just as when it lowered prices on books and DVD's, Wal-Mart's decision to cut video game prices by $10 has led to a big drop in the stock prices of competing retailers. With that much power, can Wal-Mart cause deflation? Jeremy Hobson reports.Source: Marketplace | 2 Dec 2009 | 11:44 am Google, publishers find agreementSome publishers, most notably Rupert Murdoch, have complained that Google is taking advantage of their sites by offering their paid content for free. Now Google has decided to play nice -- sort of. Alisa Roth reports.Source: Marketplace | 2 Dec 2009 | 11:44 am Cash will be key weapon in AfghanistanDollars will be a significant part of the U.S. arsenal in the ramped-up battle against the Taliban. Money will also be widely distributed as development aid. Steve Henn reports on the many uses of cold, hard cash in the battle for hearts and minds.Source: Marketplace | 2 Dec 2009 | 11:43 am The World According To Americans
Hat tip to Prieur
Source: Business Pundit | 2 Dec 2009 | 11:37 am Carl Icahn: The Problem With Corporate America Is That It's Full Of Fraternity PresidentsWatch it on Academic Earth Nice guys, but not too bright, according to Carl, who was addressing a bunch of Yale students via Webcam. He also talks about how he "made a few bucks playin' pokah," Princeton being a better school than Yale (but Yale still being "pretty good"), and the model and car he used to ride just after getting out of school. He seems to have some difficulty with the technology (he can't hear all the questions in the Q&A and leans in very close and starts shouting at the screen at one point), and at times you think he's going to tell the kids to take five so he can catch a few winks but there's something mesmerizing about the whole thing (probably the accent) and I really just want him to be my grandfather.
Source: Dealbreaker | 2 Dec 2009 | 11:08 am Parr Says Economy `Stopped Getting Worse' in Midwest: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 10:59 am Casesa Says GM Needs New Management From Outside: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 10:56 am Vanguard: 60 percent of 401k accounts recovered (AP)AP - Another major provider of 401(k) accounts says the typical retirement saver now has more money in their account than they did before the stock market began tumbling two years ago.Source: Yahoo! News: Business | 2 Dec 2009 | 10:49 am Presented By:Source: Dealbreaker | 2 Dec 2009 | 10:37 am Dear Dan Loeb Nation
Earlier: Dan Loeb: It Is A Bull Market In Government Regulation And Intervention
Source: Dealbreaker | 2 Dec 2009 | 10:37 am UBS's Yu Sees Euro Near $1.45 in One Month: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 10:21 am Bolton Says U.S. Shouldn’t Worry About Afghan Exit Date: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 10:18 am Bandholz Sees `New Normal' of 6% U.S. Unemployment: AudioSource: Bloomberg - All Podcasts | 2 Dec 2009 | 10:18 am Old Lane Revived (Sort Of)
Well, if you missed out on the chance to lose your shirt on it during its all-too-short two years of (mis)managing money, don't despair. You may yet have another chance. Guru Ramakrishnan--the last CEO of the doomed hedge fund--and five other former Old Laners are back, sans Vikram, of course. And despite the Old Lane's disastrous run, they've managed to raise more than $200 million from outside investors eager to see if Old Lane Part Deux (officially called Meru Capital) can match Old Lane's intoxicating mix of hubris, incompetence and extraordinary enrichment of its managers.
Source: Dealbreaker | 2 Dec 2009 | 9:59 am 11 Ways to Protect Yourself from Identity Theft
According to the FTC, an estimated 9 million Americans have their identities stolen every year. Because creditors are not required to report instances of identity theft to the FTC, these numbers may actually be much higher. Identity thefts are up 5% this year alone. It can take more than 100 hours—and large sums of money—to fix your credit after an identity thief strikes. Besides using your credit cards, thieves may rent apartments, obtain employment in your name, use your information to get medical care, or create telephone and utilities accounts in your name. If the idea of identity theft frightens you, it should. But you’re far from helpless. A few basic protective measures will go far in keeping your identity secure. Here are eleven ways to protect yourself from identity theft: 1. Don’t write down credit card numbers. If a service provider or merchant asks you to write your credit card number on a bill, check, or envelope, don’t. Instead, share your credit card number over the phone or online. 2. Don’t give anyone your credit card number unless you initiated contact. That is, you called them, or you know exactly who is calling you, and why. If you’re not sure, don’t share your number. 3. Shred, tear up, or burn credit card application forms. Thieves sometimes fill these out in your name in order to steal your identity. 6. Tear up, shred, or burn any mail containing personal information. Identity thieves sometimes dumpster-dive. 7. Beware of phishing scams. When you see an email that looks like it’s from a bank, PayPal, eBay, or any other site you might be registered to, be on guard. Look for misspelled or strange sender email addresses—they may be phishing. Don’t verify any account information directly through an email. Go to the service provider’s website instead. Log in from there. And don’t respond to any pop-ups. 8. Don’t give your social security number or date of birth to anyone calling you. Some thieves “pretext,” that is, they pretend to be someone they’re not in order to steal your information. They can be pretending to be a research firm, credit card or mortgage company, etc. Once they have your information, they call your bank to obtain information about your bank account and credit card number. Rule of thumb: If they called you first, don’t give them anything. 10. Keep your personal information stashed somewhere safe. Don’t carry your Social Security card around with you. Try not to carry your medical cards unless you have to. Make your Internet account passwords complicated and hard to crack by including letters, numbers, and symbols. Don’t leave your wallet or purse laying around in places where people might be interested in stealing information (this can include your place of work). Vigilance pays. 11. Don’t use your debit card to pay anything online. That applies to automatic bill payment services, e-commerce transactions, insurance payments, and anything else that isn’t a loan. If thieves steal your actual money (vs. the bank’s credit-card money), it may result in more heartache if you do get hit by identity theft. Sources: FTC, Department of Justice
Source: Business Pundit | 2 Dec 2009 | 9:40 am Google: Publishers Can Limit Free Articles. Has the Media Game Changed?
Google recently announced that online newspapers can now limit how many free articles people read. The new “First Click Free” program lets publishers restrict access to users after reading up to five free articles through Google. When Google senses that you have clicked on more than five free articles in a day, you’ll be routed to a pay or registration wall. Rupert Murdoch’s loud complaints seem to have worked. Marketing Pilgrim’s Andy Beal observes that Google’s small concession still keeps its ad revenue intact: The study of 101,000 articles published by 157 newspapers found that more than 75,000 sites reused 112,000 almost exact copies without authorisation, and a further 520,000 articles in part…The study found Google accounted for 53 per cent of the advertising being run alongside unlicensed stories… Is it pure coincidence that on the day News Corp’s Rupert Murdoch was in Washington telling the FTC about the need to reform “fair use” laws to prevent the “theft” of its content, Attributor pulls out some heavy numbers in support and Google decides to bend a little? I think not! Forget the fact that Bing is rumored to be courting the newspaper industry to dump Google, the search engine plans to lose a significant slice of revenue, if the publishing industry faces any kind of mass reform. Think about it, Google offers to change the “First Click Free” terms in order to save the AdSense revenue it makes from bloggers, and the more nefarious scrapers. It’s a small sacrifice, right? Indeed. Google’s “sacrifice” also muffles news publishers’ war cries, at least for the time being, because their sites can now have both limited access and high visibility. But Google’s move doesn’t play an integral part in the media debate, unless every mainstream outlet follows the paywall plan.
Source: Business Pundit | 2 Dec 2009 | 9:34 am The Falling Dollar And The N.H.L.By Daniel Costello Canada may be hockey obsessed but that hasn't always meant the Canucks had the best hockey teams. A few years back, the National Hockey Leagues even created a fund to help struggling Canadian teams pay for better players. Oh, how things have changed -- largely because of the falling U.S. dollar. The Canadian dollar has been rising relative to the greenback since 2002 and the N.H.L. pay contract states players must be paid in dollars. That's been a boon for the six Canadian teams. According to Forbes's annual ranking of team valuations, released last month, is headed by the Toronto Maple Leafs, with the Montreal Canadiens and the Vancouver Canucks also in the top 10. Over all, the six Canadian teams' average ranking in the magazine's analysis is 12th in the 30-team league -- a sharp contrast with 2002, when the six Canadian teams averaged 21st. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Dec 2009 | 8:06 am Morning Report: Fewer Job Losses In November; Google Blinks, A LittleBy Daniel Costello The U.S. private sector lost 169,000 jobs in November, according to the ADP employment report released Wednesday, signaling the labor market may be stabilizing along with other sectors of the economy. It was the fewest jobs lost since July 2008. The private sector has shed jobs for 22 months in a row. Job losses peaked at 736,000 in March and have lessened every month since. After mounting criticism from disgruntled media executives -- most notably News Corp. Chairman Rupert Murdoch -- Google said late Tuesday that it will begin allowing news publishers to limit the number of free articles accessed through its Internet search engine. After failing to find other ways to get paid for online content, the media industry is considering blocking search engines' access to news content. It's unclear if such a move would push more online viewers toward newspaper web sites or simply reduce news viewership. And North Korea has redenominated its currency by knocking two zeroes off the nominal value of banknotes to fight inflation and curb black markets, according to reports Tuesday. The conversion rate was set at 100 to 1, so every 1,000 won bill is now being exchanged into a 10 won note. The switch essentially makes savings denominated in the old currency worthless. Amid a lack of a modern financial and monetary system, North Korea has huge black markets that supply many of its goods, especially food. But the black markets, and the use of a growing supply of foreign currencies circulating in the country, have contributed to rising asset prices such as luxury apartment flats. The move is likely to stem the inflation but if it cripples the operation of local markets, the consequences could be severe for the millions who depend on them for food. U.N. officials have estimated that as much as half the calories consumed by North Koreans come from food bought in black markets. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 2 Dec 2009 | 7:34 am How Not to Shorten “Homogenized”
Source: Business Pundit | 2 Dec 2009 | 4:20 am
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