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Pay cut for two million Britons causes collapse in tax revenueAlmost two million Britons have accepted pay cuts or reduced hours to stave off unemployment, causing government income tax receipts to collapse by almost one fifth.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Dec 2009 | 3:23 am Oil prices perfect, inventories dropping: SaudiSaudi Oil Minister Ali al-Naimi said on Saturday that the price of oil is "perfect" and that crude inventories in international markets are on the decline. "Everything is so good now, weSource: RSS feed - channel BNewsBusiness | 5 Dec 2009 | 3:03 am Saudi oil minister: oil prices 'perfect'Saudi Arabia's oil minister says the current global oil price is "perfect" and the market is stable. Ali Naimi's remarks Saturday came as key Arab OPEC ministers indicated the oil...Source: RSS feed - channel BNewsBusiness | 5 Dec 2009 | 2:19 am Saudi oil minister: Oil price 'perfect'Saudi Arabia's oil minister says the current global oil price is "perfect" and the market is stable. Ali Naimi's remarks Saturday came as key Arab OPEC ministers indicated the oil...Source: RSS feed - channel BNewsBusiness | 5 Dec 2009 | 2:04 am Obama shifts Copenhagen trip as prospects brightenPresident Barack Obama is shifting the timing of his visit to an international climate summit in Copenhagen as prospects for a political agreement at the event seem more likely. The...Source: RSS feed - channel BNewsBusiness | 5 Dec 2009 | 2:01 am Toyota vehicles in another federal safety probeRegulators are looking into complaints of stalling -- in some cases at highway speeds -- in Corolla and Matrix cars from model year 2006. The investigation covers an estimated 397,000 vehicles.Federal safety officials have opened a probe into two models of Toyota Motor Corp. vehicles after drivers complained that their cars inexplicably stalled in traffic, sometimes at highway speeds.
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am U.S. loses almost no jobs in NovemberThe surprising employment picture fuels hopes that the bottom is here -- or near. Reporting from Washington and...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Airbus' California presence grows as Boeing's shrinksThe European aircraft maker touts the expansion of its U.S. investments as its vies for a $35-billion Air Force contract for 179 aerial refueling tankers.For decades, workers at McStarlite Co. in Harbor City pounded billboard-size sheets of metal into doughnut-shaped parts called lipskins that cover the edges of Boeing Co. jet engines.
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am Factory orders rise unexpectedly in OctoberWASHINGTON -- Orders to U.S. factories unexpectedly rose in October, the sixth gain in the past seven months. It was further evidence that the manufacturing sector is beginning to recover, which will help...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am U.S. loses almost no jobs in NovemberThe surprising employment picture fuels hopes that the bottom is here -- or near.Reporting from Washington and Los Angeles -- After two long years of economic destruction that saw about 8 million American jobs disappear, the national payroll essentially stopped shrinking last month in an unexpected turn that raised hopes a labor market recovery might finally be at hand.
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am Business BriefingOILSource: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am TCW ousts star fund manager Jeffrey GundlachThe firm also agrees to acquire smaller rival Metropolitan West Asset Management.Stunning the world of bond investing, Los Angeles investment firm TCW Group Inc. on Friday ousted its star fund manager and simultaneously agreed to acquire smaller L.A. rival Metropolitan West Asset Management.
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am FCC asks Verizon Wireless to explain feesThe carrier recently doubled the amount it charges customers when they break their contracts on smart phones. ...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Many homeowners with modified mortgages are behind on paymentsAbout 25% of borrowers helped under the administration's massive foreclosure prevention program are delinquent, the Treasury Department says.About 25% of borrowers helped under the administration's massive foreclosure prevention plan have already fallen behind on their new mortgage payments, according to government data that raise new questions about the program's effectiveness.
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am Business BriefingChevron to cut retail operations
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am Airport kiosks do nearly everything but check luggageAlso: Business travel is looking up, and $40 flights to India were just a British Airways typo.The growing army of self-serve kiosk computers at the nation's airports never sleeps, never complains and works fast. And today the machines are being asked to do more than ever.
Source: L.A. Times - Business | 5 Dec 2009 | 1:00 am TCW ousts star fund manager Jeffrey GundlachThe firm also agrees to acquire smaller rival Metropolitan West Asset Management. Stunning the world of bond investing,...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am GM CEO shuffles managers, seeks culture changeDETROIT -- When auto industry veteran Bob Lutz returned to General Motors in 2001 after 30 years with other companies, he quickly grew tired of GM's numbers-oriented bureaucracy, printing up post-it notes...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Many homeowners with modified mortgages are behind on paymentsAbout 25% of borrowers helped under the administration's massive foreclosure prevention program are delinquent, the Treasury Department says. ...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Airbus' California presence grows as Boeing's shrinksThe European aircraft maker touts the expansion of its U.S. investments as its vies for a $35-billion Air Force contract for 179 aerial refueling tankers. ...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Toyota vehicles in another federal safety probeRegulators are looking into complaints of stalling -- in some cases at highway speeds -- in Corolla and Matrix cars from model year 2006. The investigation covers an estimated 397,000 vehicles. ...Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Stocks jump as employers cut fewer jobsNEW YORK -- The stock market jumped and Treasurys fell after the government said the nation's jobless rate dropped to 10 percent in November as employers cut far fewer jobs than expected.Source: RSS feed - channel BNPaperBusiness | 5 Dec 2009 | 1:00 am Funds of the decadeWho made it to the top - and why? We at the funds that eclipsed rivals and gazes into his crystal ball for future stars.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 5 Dec 2009 | 12:20 am TEPCO to acquire stake in Wheatstone LNG projectTOKYO, Dec 5 (Reuters) - Japan's Tokyo Electric Power Co said on Saturday it has signed a Heads of Agreement with U.S. major Chevron to procure 4.1 million tonnes per year of liquefied natural gas from...Source: RSS feed - channel BNewsBusiness | 5 Dec 2009 | 12:06 am GM management shuffle continuesThree days after the ouster of CEO Fritz Henderson, new presidents of the North American and international divisions are named.Three days after the ouster of Chief Executive Fritz Henderson, General Motors Chairman Edward E. Whitacre Jr. announced a deeper management shake-up at the automaker, naming new presidents for the company's North American, European and other international divisions.
Source: L.A. Times - Business | 4 Dec 2009 | 10:54 pm Stocks post modest gain after a day of swingsThe Dow soars on a better-than-expected unemployment report, plunges on new interest rate fears and finishes with a modest gain.Investors who have waited all year for a sign of a peak in unemployment weren't quite sure how to react Friday when that signal arrived in the form of a much better-than-expected monthly report on jobs.
Source: L.A. Times - Business | 4 Dec 2009 | 10:53 pm Adam Lambert gets guest spot on 'The View' after outcry from supportersABC had canceled Lambert's appearances on 'Good Morning America' and 'Jimmy Kimmel Live.' His backers believed it was because he is gay.After taking heat from Adam Lambert's fans and gay advocates for a week, ABC on Friday extended an olive branch of sorts to the "American Idol" runner-up who made headlines with his provocative performance last month at the American Music Awards in which he kissed a male musician.
Source: L.A. Times - Business | 4 Dec 2009 | 10:50 pm Six more U.S. banks closedWASHINGTON (Reuters) - Regulators seized six more U.S. banks on Friday, bringing the tally of failures to 130 this year as the bank industry continues to suffer under the weight of deteriorating loans.Source: Reuters: Business News | 4 Dec 2009 | 10:26 pm Six more U.S. banks closed (Reuters)Reuters - Regulators seized six more U.S. banks on Friday, bringing the tally of failures to 130 this year as the bank industry continues to suffer under the weight of deteriorating loans.Source: Yahoo! News: Business | 4 Dec 2009 | 10:26 pm Stocks to Watch: Stocks in focus for MondayAmong the companies whose stock is expected to see active trading Monday are Casey's General, Pep Boys and Layne Christensen.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 10:01 pm Kaiser to pay $3.75 million in false billing caseFour Kaiser health care companies have agreed to pay $3.75 million to settle allegations they improperly billed for teaching physicians' services. Federal prosecutors said from 1996...Source: RSS feed - channel BNewsBusiness | 4 Dec 2009 | 8:48 pm Regulators close six more banks in U.S.WASHINGTON (Reuters) - Regulators seized six more U.S. banks on Friday, bringing the tally of failures to 130 this year as the bank industry continues to suffer under the weight of...Source: RSS feed - channel BNewsBusiness | 4 Dec 2009 | 8:29 pm UPDATE 2-Apple acquires music service Lala* Lala revenue less than $10 mln (updates with confirmation)Source: RSS feed - channel BNewsBusiness | 4 Dec 2009 | 7:36 pm Alpena refinery gets $18 million grantThe federal government has awarded nearly $18 million to build a refinery in Alpena that will produce biofuels. The U.S. Energy Department on Friday announced the grant to American...Source: RSS feed - channel BNewsBusiness | 4 Dec 2009 | 6:19 pm Jobless insurance rates rise for some ND employersNorth Dakota's unemployment insurance rate will stay the same for a majority of businesses in 2010, even though benefit payments more than doubled this year, a Job Service North Dakota...Source: RSS feed - channel BNewsBusiness | 4 Dec 2009 | 6:16 pm Treasury secretary challenges Goldman aid claimsTim Geithner rejected Goldman Sachs’ claim that it could have withstood the financial crisis without government intervention, adding that all banks were at risk of being wiped out.Source: Financial Times - US homepage | 4 Dec 2009 | 5:49 pm Stocks climb as employers cut fewer jobs (AP)
Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 5:42 pm GM Chairman Whitacre shakes up senior managementDETROIT (Reuters) - General Motors Co Chairman and Chief Executive Ed Whitacre announced a broad shake-up of the automaker's senior leadership on Friday, tightening his grip on the company three days after replacing its CEO.Source: Reuters: Business News | 4 Dec 2009 | 5:31 pm 6 banks fail, tally reaches 130The nation's tally of 2009 bank casualties hit 130 Friday when regulators shuttered a large Ohio bank, an Illinois bank, a Virginia bank and three small Georgia banks.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 5:28 pm US jobs data offer hope for recoveryThe US jobless rate fell back to 10% in November as the economy shed the fewest jobs since the recession started two years ago, offering a promising sign that the labour market is starting to mendSource: Financial Times - US homepage | 4 Dec 2009 | 5:27 pm AmTrust Bank puts $2 billion dent in FDIC fundLatest round of bank failures brings 2009's total to 130.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 5:27 pm Top Ten: MarketWatch's top stories, Nov. 30-Dec. 4Here's a roundup of the top news, analysis and commentary from MarketWatch for the last five days.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 5:23 pm Obama boosts hopes for deal at CopenhagenPresident Barack Obama has delayed his trip to an international climate change summit in Copenhagen to the end of the meeting, the White House announced, on hopes that a deal has become more likely since China and India have announced targets for reducing their carbon intensitySource: Financial Times - US homepage | 4 Dec 2009 | 5:18 pm FundWatch: Top bond manager Gundlach ousted from TCWThe TCW Group, a $110 billion fixed-income investment firm, says that it agreed to buy rival asset-management firm Metropolitan West Asset Management in a deal that shakes up the bond investing world.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 5:12 pm Latin American Markets: Mexican stocks advance on U.S. jobs hopesMexico’s benchmark stock index again climbs to the highest since mid-2008, with almost all sectors of the market participating, after surprisingly strong jobs data in the U.S. raised expectations of a recovery in one of Mexico’s biggest trading partners.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 5:12 pm 'Cyber Monday' warning for shoppersAs British shoppers are expected to spend a record amount online on "Cyber Monday", they are being warned about online fraud.Source: BBC News | Business | World Edition | 4 Dec 2009 | 5:04 pm Revised construction figures suggest recession has endedHopes that the recession ended between July and September were boosted yesterday after official statisticians made a “mighty revision” in their assessment of the construction sector. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Sales the key as Ineos juggles £5.9bn debtIn a village, deep in the New Forest, four men are taking apart and putting back together a chemical empire that stretches from Texas to Cologne. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Surprise fall in US jobless boosts dollarThe dollar leapt yesterday after a surprise fall in last month’s US unemployment rate to 10 per cent raised hopes that the American jobs market had bottomed out. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Car sales accelerate as scrap scheme nears endNew car registrations surged by more than 57 per cent last month as buyers rushed to take advantage of the Government’s “cash for bangers” car scrappage scheme and the lower rate of VAT. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm To buy or not to buy, that is the questionPique is an unfortunate emotion, one that could be costly for millions of bruised Lloyds shareholders. This weekend they have to decide whether to invest more money in the company. Lloyds is seeking £13.5 billion from shareholders, who are being offered the opportunity to buy new shares at a discount. The final deadline for applications is Friday. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Game may be up for the Christmas turkeyMiddle England may be losing its taste for the traditional turkey and sprouts. Waitrose, the supermarket group owned by the John Lewis Partnership, said yesterday that sales of three-bird game roasts were soaring. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm At leisure: ‘You need both the practitioners and the politicians to work together’We are sitting in Jo Valentine’s drawing room on a Sunday afternoon, drinking tea and sheltering from the driving rain. Baroness Valentine of Putney is sitting in comfy patchwork pull-ons, a warm sweater and walking socks with her feet tucked under her. In the hallway, a mess of wellingtons and waterproofs bears testimony to the hard work that is behind us. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Mandelson warns Kraft that its intentions towards ‘our Cadbury’ must be honourableKraft, the American food group, yesterday fired the starting gun on one of Britain’s biggest hostile takeover bids. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Corus says lack of state support is to blame for Teesside mothballingThe chief executive of Corus, Britain’s biggest steelmaker, tore into the Government last night after the company announced it was mothballing most of its Teesside Cast Products (TCP) plant site in the new year with the loss of 1,700 jobs. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm BarCap told customers ‘buy Dubai’ just before crisisBarclays Capital advised its investment clients to buy Dubai debt three weeks before the Gulf state announced that it was seeking a standstill on debt repayments for Dubai World, the state-owned conglomerate. Source: Latest Business News from Times Online | 4 Dec 2009 | 5:01 pm Riso replaces Kellman as Care CEO (AP)AP - Care Investment Trust Inc., a real estate investment trust that invests in healthcare-related real estate and commercial mortgage debt, said Friday that Salvatore Riso Jr. had become chief executive officer.Source: Yahoo! News: Business | 4 Dec 2009 | 4:53 pm Climate alarm sounds for wine industryThink of the historic wine regions of France. Now think of them airlifted approximately 620 miles north, to, say, southern Scandinavia. That is what could happen to the wine industry under a worst-case-scenario projection by scientists at the University of Burgundy.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 4:47 pm Canadian Markets: Canadian stocks fall as gold miners lose shineU.S. jobs report helps rebounding dollar, which weighs on gold, other commodities.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 4:46 pm Foodstuffs staff to protest payFoodstuffs distribution centre staff will protest their pay at three Christchurch supermarkets this afternoon.National Distribution Union South Island regional secretary Paul Watson says each of the targeted supermarkets, two...Source: nzherald.co.nz - Business | 4 Dec 2009 | 4:40 pm Apple (AAPL) May Buy Cloud Based Music SiteApple (NASDAQ:AAPL) customers who want to buy and play music and video from the iTunes store have to download it to their iPods or iPhones. The huge consumer electronics company is considering buying Lala. The small company allows its customers to store all of their multimedia content on the portion of the internet called the “cloud” [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 4:33 pm Unemployed: More help may be on the wayLawmakers in both the House and Senate introduced bills this week to push the deadline to apply for unemployment benefits to as far back as 2011.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 4:32 pm Gold slumps as dollar strengthensThe price of gold slumps after surprisingly good US unemployment data sends the dollar higher against major currencies.Source: BBC News | Business | World Edition | 4 Dec 2009 | 4:25 pm Geithner: Can shift "substantial" bailout funds to jobsWASHINGTON (Reuters) - The Obama administration can shift "substantial" resources from bank bailouts to job creation and will soon spell out the case for doing so, Treasury Secretary Timothy Geithner said on Friday.Source: Reuters: Business News | 4 Dec 2009 | 4:22 pm Give to charity on the cheapSource: Business and financial news - CNNMoney.com | 4 Dec 2009 | 4:04 pm Stocks rally on jobs reportStocks ended higher Friday, as investors redoubled their efforts after an afternoon selloff, following a better-than-expected November jobs report.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 4:03 pm Monster, DuPont, Take-Two are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 4:02 pm ALL BUSINESS: Help needed for underwater mortgages (AP)AP - Stop paying your mortgage.Source: Yahoo! News: Business | 4 Dec 2009 | 3:51 pm Geithner: Can shift "substantial" bailout funds to jobs (Reuters)
Source: Yahoo! News: Business | 4 Dec 2009 | 3:46 pm After Hours: Dell inches higher, Take-Two extends fallShares of Dell edge higher in late trading, following reports that the Round Rock, Texas-based company will create a new division based around its forthcoming mobile phone device.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 3:44 pm US unemployment rate eases to 10%The US unemployment rate fell back in November to 10%, from 10.2% in October, the US Labor Department says.Source: BBC News | Business | World Edition | 4 Dec 2009 | 3:38 pm Introducing: The cougar cruise shipIt's a trip that would make Demi Moore and Ashton Kutcher blush. On Friday, the Carnival cruise ship Elation, sponsored by the world's largest nonprofit singles travel group, will make history by hosting the world's first International Cougar Cruise, and we don't mean the animal.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 3:33 pm Podcast: The 'Nine Fingered Economy'
Jake Adelstein, a former daily crime reporter in Japan, holds up manga magazines based on the yakuza and a business management book written by a former crime boss. (Frank Zeller/AFP/Getty Images) On today's Planet Money: An American journalist in Japan, Jake Adelstein, has spent a decade covering the world of organized crime. He talks about how the business of the yakuza groups has changed over time and how tighter government restrictions have pushed the Japanese mob into more "traditional" investments. BONUS EXCERPT: 'Tokyo Vice: An American Reporter on the Police Beat in Japan' Download the podcast; or subscribe. Music: Jay-Z , Rhianna & Kayne West's"Run This Town." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Dec 2009 | 3:30 pm Two More Bank Failures Make 126: Devil Goes Down to GeorgiaState Bank and Trust Company is taking over two failed and seized banks in Georgia, making this the #125 and #126 closed banks in America during the financial crisis. But this marks the 23rd bank bank failure in Georgia. The FDIC and the Georgia Department of Banking and Finance have just seized yet another bank [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 3:30 pm Washington Calendar: Washington events for Dec. 7 - 11A look at the top economic data and news events out of Washington in the coming week.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 3:30 pm Geithner Says All Big US Banks Would Have FailedIt may be that Treasury Secretary Tim Geithner needs to take a revisionist’s view of history to support attacks on the large bonuses Goldman Sachs (NYSE:GS) is about to pay its top bankers. Geithner tells Bloomberg TV that among the US firms hit by the credit crisis “none of them would have survived a situation in which [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 3:29 pm 1,700 jobs to go at Corus plantSteelmaker Corus says it will curtail production at its Teesside Cast Products factory, putting 1,700 people out of work.Source: BBC News | Business | World Edition | 4 Dec 2009 | 3:24 pm Jobs data have stocks and dollar together againIt’s become an axiom in markets: When stocks go up, the U.S. dollar goes down and vice versa. But Friday's jobs report triggers a reunion of stocks and the dollar.
Source: MarketWatch.com - Top Stories | 4 Dec 2009 | 3:22 pm Best time of year to land a jobPutting your job hunt on the back burner until after New Year's? That could be a big mistake, according to some hiring managers.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 3:20 pm Cisco set to defend growth target, M&A strategyNEW YORK (Reuters) - Cisco Systems Inc is expected next week to say it can return to double-digit sales growth due to a stronger economy and expansion in high-growth businesses, including the acquisition of videoconference leader Tandberg .Source: Reuters: Business News | 4 Dec 2009 | 3:16 pm Berlusconi accused by Mafia hitmanItaly’s centre-right government was rocked by accusations made in court by a Mafia hitman that Silvio Berlusconi had made commitments to Sicily’s Cosa Nostra as he was about to enter politics 15 years agoSource: Financial Times - US homepage | 4 Dec 2009 | 3:14 pm U.S. recovery appears firmer as unemployment dropsWASHINGTON (Reuters) - U.S. employers cut far fewer jobs than expected last month in the best showing for the labor market since the recession began, lifting the beleaguered U.S. dollar as investors bet a sustainable recovery was building.Source: Reuters: Business News | 4 Dec 2009 | 3:14 pm U.S. recovery appears firmer as unemployment drops (Reuters)
Source: Yahoo! News: Business | 4 Dec 2009 | 3:14 pm How the major stock indexes fared on Friday (AP)AP - Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates. Stocks closed higher Friday but only after giving up much of their early gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike rates or remove other supports from the economy.Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 3:11 pm Saks revises 3Q results due to tax benefit (AP)AP - Luxury retailer Saks Inc. on Friday restated its third-quarter profit to add a $4.4 million tax benefit, bumping its net income to $6.3 million from $1.9 million.Source: Yahoo! News: Business | 4 Dec 2009 | 3:06 pm AIG puts plane leasing division back up for saleInsurer American International Group (AIG) is reported to have put its $40bn (£24bn) plane leasing division back up for sale, after receiving an expression of interest from its management team.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 3:02 pm Presented By:Source: Dealbreaker | 4 Dec 2009 | 3:00 pm Write-Offs: 12.04.09$$$ Goldman Sachs Will Pay For Ruining Ice Skating, Hot Chocolate, Christmas [Daily Intel] $$$ Dick Fuld may be behind on his property taxes. [TDB] $$$ Is Charlie Rangel a Closet NASCAR Fan? [GC] $$$ 'Gropenhagen': Free Sex Coupons Available at Climate Summit [cnbc] $$$ Cocaine-stuffed chicken smuggled into US by Guatemalan man [BB] 
 Source: Dealbreaker | 4 Dec 2009 | 3:00 pm Kraft starts clock on unchanged Cadbury bidLONDON/CHICAGO (Reuters) - Kraft Foods made its formal $16.1 billion offer to Cadbury shareholders, triggering a two-month takeover fight for the chocolate maker and a frosty response from Britain.Source: Reuters: Business News | 4 Dec 2009 | 2:58 pm Car industry's support driveThe British car industry has renewed its plea for the Chancellor, Alistair Darling, to announce more support for the sector in Wednesday's pre-Budget report, after latest trade figures showed car sales increased by 58pc to 158,082 in November.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:57 pm PwC files $217bn Lehmans claimThe administrators of Lehman Brothers' European arm have filed $217.3bn (£131bn) of claims against its former American parent company and other affiliates.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:55 pm Hostile Minerva bidder ousts chairmanThe battle for control of Minerva has taken a dramatic turn after hostile bidder Nathan Kirsh ousted the company's chairman, only for the independent directors to reappoint him.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:53 pm Steelmaker Corus to cut 1,700 more jobsSteelmaker Corus has been forced to mothball parts of its Teeside plant with the loss if 1,700 jobs across the region.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:50 pm Stocks end higher as jobs data brightens outlookNEW YORK (Reuters) - U.S. stocks advanced on Friday as data showed the economy shed far fewer jobs than expected last month, brightening the outlook for the economy and profits.Source: Reuters: Business News | 4 Dec 2009 | 2:49 pm Stocks end higher as jobs data brightens outlook (Reuters)
Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 2:49 pm Stocks end higher as jobs data brightens outlook (Reuters)
Source: Yahoo! News: Business | 4 Dec 2009 | 2:49 pm U.K. Says It Was Ready To Pour Taxpayer Money Into Banks Before It Was Needed
The NAO concludes that "the Treasury was justified in using taxpayers' money" and that "it is difficult to imagine the scale of the consequences for the economy and society if major banks have been allowed to collapse." But it also suggests that the government's had no clue about what it was doing less than a week before it did it. Internal papers prepared by the Treasury suggested that RBS' capital position was reasonably strong but noted that the bank was increasingly dependent on short-term wholesale funding. Less than a week later, however, the authorities unexpectedly found that RBS could no longer access the wholesale funds it needed.
Source: Dealbreaker | 4 Dec 2009 | 2:40 pm Pay cuts helped save two million from unemploymentBritons avoid unemployment after taking pay cuts or working part time.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:39 pm Barclays will need an extra £10bn, say analystsBarclays may still need to raise as much as £10bn to shore up its capital base despite the sale of Barclays Global Investors, according to fresh analysis from JP Morgan.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:39 pm Construction output revised up in Q3The British economy may have shrunk by less in the third quarter than previously thought, after construction output data was revised sharply upwards.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 4 Dec 2009 | 2:37 pm B of A Rejoins 1 Billion Shares-Traded Club (BAC, C)Bank of America Corporation (NYSE: BAC) was all over the news for repaying the TARP and for its huge $15.00-equivalent stock offering of more than $19 billion. The S&P rebalance helped Bank of America to see near-record trading volume in shares. This may be record trading volume on a dollar-for-dollar basis. Yesterday’s 648 million shares [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 2:27 pm Small TalkMarketplace staffers share the stories that you may not have noticed in the headlines this week -- from virtual marriage to North Korean designer jeans. (And yes, Brendan, there were sidewalk Santas.)Source: Marketplace | 4 Dec 2009 | 2:19 pm A human resource for HR workersHow do you cope when part of your job is telling other people they've lost theirs? Dozens of human resource workers are turning to a Minnesota company that allows them to commiserate. Sean Cole reports.Source: Marketplace | 4 Dec 2009 | 2:19 pm L.A. Auto Show gets more compactNissan and luxury car makers are no-shows at this year's L.A. Auto Show, but the Los Angeles Times' Dan Neil tells Kai Ryssdal there's still plenty of innovation to behold.Source: Marketplace | 4 Dec 2009 | 2:19 pm Weekly WrapKai Ryssdal sizes up the week's events on Wall Street and beyond with Leigh Gallagher from Fortune magazine and The Atlantic's Megan McArdle.Source: Marketplace | 4 Dec 2009 | 2:19 pm Dems consider tax on big stock tradesWhat do you do if you're a lawmaker and you need to raise money? Congressional Democrats have an answer in mind -- a new tax on trades on Wall Street. Nancy Marshall Genzer reports on how it might work.Source: Marketplace | 4 Dec 2009 | 2:19 pm Supreme Court to decide on reform actCapitol Hill lawmakers considering new regulations for the financial industry will be watching the Supreme Court on Monday as it hears arguments in a case about the last, big financial reform law known as the Sarbanes-Oxley Act. John Dimsdale reports.Source: Marketplace | 4 Dec 2009 | 2:19 pm Long-term joblessness is on the riseNovember's unemployment figures overall were positive, with the jobless rate dropping two percentage points to 10%. However, the number of people who have been looking for work for more than six months is increasing. Mitchell Hartman reports.Source: Marketplace | 4 Dec 2009 | 2:19 pm Brozak on Women's Health, Heymann on Industrial Stocks: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 2:17 pm Letter: He Used Every Connection He HadKatie B. writes: Before WAMU went under they laid off my father, before it was cool to get laid off. They also gave him his severance as a lump sum and leaving my mother as the bread winner. He spent 11 months looking for work. He used every connection that almost 30 years in the bay area banking scene had gotten him and he finally got a job making $17.50 an hour in a customer service phone center. He is making $2 more an hour than I am as a sales associate. This is a job he did when my parents were first married and I was young. We are glad he has work, but my family still isn't out of the woods. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Dec 2009 | 2:04 pm 52-Week High Club (AKAM, FLOW, MRVL, LUV)Akamai Technologies Inc. (NASDAQ: AKAM) rose 7.9% to a yearly high of $25.66 after the software company was upgraded to “outperform” by Oppenheimer & Co. Flow International Corp. (NASDAQ: FLOW) rose over 33% to a yearly high of $3.25 after the high-pressure water jet maker reported a profit of $0.01 per share, beating analyst estimates. Marvell Technology [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 2:02 pm Pay curb risksFinance: governments seeking to quell public anger by curbing pay at bailed-out banks face the dilemma that such moves might also harm their investments, write Francesco Guerrera and Megan MurphySource: Financial Times - US homepage | 4 Dec 2009 | 2:02 pm GM's new CEO gets crackingSay what you will about Ed Whitacre, chairman and interim CEO of General Motors: This is a man who knows what he wants and isn't afraid to make sure that he gets it.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 2:02 pm Tim Geithner Would Like To Like To Remind Wall Street's Banks Of A Little Something, But Particularly Goldman Sachs
Taking aim at what he called "an era of irresponsibly high bonuses," Geithner said all banks -- even those that have repaid government aid -- need to restrain the amount they pay their leaders and tie compensation to long-term goals.
Source: Dealbreaker | 4 Dec 2009 | 1:57 pm Galleon's Rajaratnam was suspected a decade agoSAN JOSE, California (Reuters) - Federal investigators suspected a decade ago that Galleon Group hedge fund founder Raj Rajaratnam was trading on inside information but were unable to prove he was breaking the law.Source: Reuters: Business News | 4 Dec 2009 | 1:41 pm I Always Get Those Two Fields Confused, Too
A court has ordered the Tokyo Stock Exchange to pay Mizuho Securities more than ¥10 billion because a technical glitch prevented Mizuho from cancelling the disastrous sale. Apparently, in Japan, the stock exchange is 70% responsible when you try to sell 610,000 shares of a company for ¥1 rather than one share for ¥610,000. Mizuho said its total losses from the screw-up were ¥40.7 billion. The Tokyo exchange is considering an appeal. Tokyo bourse ordered to pay Mizuho $121M damages [AP via Google]
Source: Dealbreaker | 4 Dec 2009 | 1:35 pm Dollar’s Rally Is OverdoneThis morning the Bureau of Labor Statistics announced that the unemployment rate had dropped from 10.2% to 10% and that nonfarm payroll jobs declined by just 11,000. The market rallied in the early morning, only to give it all back as investors used the rise to take profits. But the biggest movement prompted by the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 1:31 pm CFA Takers: Good Luck To All
How about a shout-out for those of us who are sleep deprived and freaking out about tomorrow? something to cheer us up and forget that we paid over $1k for this test that (according to all estimates) most of us will probably fail. Something special, because we need it. Give us hope, something to look forward to, that's all we really want. I know it's only level 1, which screams 'n00b'. I mean, if it was any more of a joke it'd be the Series 7, right? But even 'n00bz' need encouragement. You're all going to do great! And if you don't, it's not like this shit matters. Plus, we'll be throwing a special pity party for the failures, so there's that to look forward to. And because I know some of you are sensitive:
Source: Dealbreaker | 4 Dec 2009 | 1:10 pm 10 million cans of Slim-Fast recalledConsumer products maker Unliver announced a recall of all Slim-Fast ready-to-drink products in cans due to possible bacterial contamination.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 1:05 pm Chart Call: Apple’s Exit (AAPL)We have had a hard time not noticing how many more emails Apple Inc. (NASDAQ: AAPL) has sent out on deals compared to last year. More importantly, we have noticed how consumer electronics and gadgets are on about as best of a sample for holiday shopping as you could imagine. What we wanted to look [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 12:42 pm A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Friday:Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 12:42 pm States' No. 1 fiscal solution: TaxesSpeeders doing more than 85 miles per hour in Georgia will soon pay an additional $200 in fines. Racehorse owners in New York now must fork over $10 to enter their steeds in events. And Massachusetts started charging a 5% tax on broadcast satellite service.Source: Business and financial news - CNNMoney.com | 4 Dec 2009 | 12:41 pm 'Why Would We Even Consider A Woman?'
First, of course, there's the market-manipulation stuff. Reuters has that covered (click and scroll down), so we'll move on to the character assassination. Buried in a footnote--attached to the bit about Ping pinching Andy's ass--on page 4 are a series of gems allegedly from the mouth of Mr. Jiang depicting him as a racist, anti-semite and sexist. How Jiang's racism, anti-semitism and sexism is relevant to Tong's claims that sexual assault is not OK in the workplace are unclear, but here they are, for your reading pleasure.
Source: Dealbreaker | 4 Dec 2009 | 12:35 pm Comcast Raised to `Outperform' at Raymond James: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 12:18 pm NYT Pink SlipsBy Daniel Costello In October, the New York Times announced it would need to trim as many as 100 newsroom jobs by the end of the year and has sought most of the cuts through voluntary layoffs. Unfortunately, it appears not enough staffers have raised their hand so the paper is expected to hand out pink slips as early as next week. It's a sad situation. I spent a dozen years at the Los Angeles Times and Wall Street Journal and have concluded, unfortunately, that most newspapers won't be standing in their current form in another decade, if they can make it that long. Sure, some may keep themselves going in name only. But I don't see how they will have the money to keep even a good share of their reporters or afford to do the kind of intensive reporting, especially investigative reporting, they do so well. I hope other media organizations, independent reporters and bloggers -- who do a great job, in my opinion, of sparking debate and discussion today but comparatively little independent reporting - make up the slack. What do you all think? » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 4 Dec 2009 | 12:06 pm GM Chairman Whitacre shakes up senior management (Reuters)
Source: Yahoo! News: Business | 4 Dec 2009 | 12:05 pm Berlin and Paris pressed on troopsFrance and Germany came under fresh pressure to send thousands more troops to Afghanistan next year after 25 nations both inside and outside the Nato alliance gave firm commitments to send more than 5,500 soldiers.Source: Financial Times - US homepage | 4 Dec 2009 | 11:59 am Ping Jiang: Stickler For The BJ Rules
On another note: in all seriousness, reading through all this, I actually feel bad for SAC and Steve. This does not come off as workplace sexual harassment but rather a workplace affair between two aberrant fetishists, playing out their S&M/water-sports fantasies, which, unfortunately for SAC, took place at the office. As someone pointed out early, nobody pisses in your mouth without your complicity.
Source: Dealbreaker | 4 Dec 2009 | 11:54 am State regulator: Jury still out on SEC post-Madoff (AP)AP - The Securities and Exchange Commission culture that allowed the Madoff fraud scandal to go undetected for nearly two decades may not change and the agency isn't doing enough to support investor protection proposals in Congress, according to a top state regulator.Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 11:52 am Acting GM chief launches major reshuffleThree days after sacking Fritz Henderson as chief executive, General Motors’ acting CEO Ed Whitacre put his stamp on the US carmaker with a major management reshuffleSource: Financial Times - US homepage | 4 Dec 2009 | 11:49 am Letter: 'This Jobless Recovery Sure Is Something'Jason R. from New Jersey writes: My brother in law, my cousin and I all just lost our jobs. I saw this coming from miles away so laid the groundwork for my own business, but I was surprised to find that even if you aren't selling anything yet, you cannot collect unemployment if you just started your own company The company that I work for has been in the video business for a decade, and the founders were in another business for another decade before that. The landscape is changing very quickly, and video distributors (the companies that sell our products) are failing (or hurting) everywhere. A major international distributor filed for administration (the UK equivalent of bankruptcy), and it just piled on what what already an ugly situation. The industry is small enough that I still hope to work with them in other ways, but I also need to focus on my career and the financial security of my family. So in regards to my business, my lack of distribution is almost more of an asset than a curse in this environment -- but I don't expect it to always be this way. My plan is to sell directly into most of the major web channels, and perhaps work with a small group of independent sales representatives. When the dust settles, I plan to look at who is left standing, what they might have compromised in order to still be standing, and build relationships from there. It's actually very consistent with what I did with my 401K. The situation looks grim, so lay low, find a calm port in a storm and try to build something new. I think that, especially in a jobless recovery, the government should be willing to extend unemployment insurance, or something under a different name, to people who determine that they might be more successful starting their own business. Otherwise, there's this math that you do in your head (I do, anyway) where you say, "ok, I'm launching a business, and it might take X months before I start to see a steady stream of sales, so why don't I just wait 9 months and launch next year, during the busy Christmas season." It seems that since a lot of jobs are not coming back quickly enough, a great way to stimulate the economy would be to focus on people who decide to start their own businesses We're collecting your stories about unemployment today. If you have one to share, email us at planetmoney@npr.org. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Dec 2009 | 11:37 am I'm going to make some investing noiseLauren Silverman is only a senior in college, but she's already focused on becoming a financially independent woman. She explains why she's made learning the ins and outs of investing a priority in her life.Source: Marketplace Money | 4 Dec 2009 | 11:32 am How to get equal pay for equal workWomen still get paid less than men for the same work, according to the Bureau of Labor Statistics. Ashley Milne-Tyte reports on how women can begin to chip away at the disparity.Source: Marketplace Money | 4 Dec 2009 | 11:32 am Raising the bar on mortgagesThe Federal Housing Authority has revealed new requirements for mortgage qualification, while the pressure is on to modify mortgages that already exist. Tess Vigeland explains.Source: Marketplace Money | 4 Dec 2009 | 11:31 am Getting PersonalPersonal finance columnist Liz Pulliam Weston helps Tess Vigeland answer listeners' questions about the risks of having a credit limit higher than you'll ever use, and whether to take an offer for a "hardship plan" to pay off debt.Source: Marketplace Money | 4 Dec 2009 | 11:31 am Don't let debt cancellation fool youBob Sullivan, who covers Internet scams and consumer fraud for MSNBC.com, talks with Tess Vigeland about why debt cancellation services are not as good as they sound.Source: Marketplace Money | 4 Dec 2009 | 11:30 am The new digital pyramid schemeThe latest pyramid scheme comes to us in a new format: personalized videos. Rico Gagliano reports on what some people are referring to as "cash gifting."Source: Marketplace Money | 4 Dec 2009 | 11:30 am Investment lessons culled from MadoffDavid McPherson, president of financial planning firm Four Ponds Financial, talks with Tess Vigeland about how investors can avoid another Bernie Madoff scenario.Source: Marketplace Money | 4 Dec 2009 | 11:29 am Job hunting basics for a tough marketChina Gorman, an executive with the Society for Human Resource Management, talks with Tess Vigeland about the advice job placement counselors are giving recently laid-off workers.Source: Marketplace Money | 4 Dec 2009 | 11:29 am Government takeover of student loans?If you've received a student loan lately, chances are you have the government to thank. Private lending has been in short supply. Now, Congress is considering eliminating the middleman completely. Bob Moon reports.Source: Marketplace Money | 4 Dec 2009 | 11:29 am Rig Counts Staying Positive (BHI, OIH, DIG, USO, OIL)Baker Hughes Incorporated (NYSE: BHI) has just released its weekly rig counts. It looks like we have another week of rig count growth on the three major counts, a positive development for those wanting more stable oil supply (and hopefully more stable oil prices)…. We are watching the key ETFs of Oil Services HOLDRs (NYSE: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 11:23 am Sprint Affiliate Suits Now Totally Behind It (S, IPCS, CLWR)If you have followed Sprint Nextel Corporation (NYSE:S) since way back when Sprint was Sprint and Nextel was Nextel, you know how the Sprint story is riddled with lawsuits from affiliates and full of acquisitions of its old affiliates. Today marked the formal closing date of Sprint Nextel’s acquisition of iPCS, Inc. (NASDAQ:IPCS), which is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 11:13 am Jobs Not Improving EverywhereBy Daniel Costello It's certainly good news to hear the unemployment rate unexpectedly dropped last month. But the Labor Department data released this morning included a few things that raise concern for me. According to the Labor report, the manufacturing sector lost 41,000 jobs; the "trade, transportation, and utilities" sector lost 34,000 positions and construction jobs were down 27,000. Retail employment also fell by 14,500 - a potentially worrying sign for an economic recovery pinned on consumer spending and a strong holiday spending season. Another weak area: the number of people who are eating out -- often an early harbinger of economic recoveries. According to the labor data, 4,000 food services workers lost their jobs in November. Many economists continue to predict the jobless rate will rise again in the coming months. It's hard to know who is right but warning signs that we aren't out of the woods just yet remain. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Dec 2009 | 11:09 am Goolsbee Sees U.S. Economy `Turning the Corner': AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 11:08 am Deutsche Bank Raising Fees on 7 PowerShares ETFs: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 11:06 am Mandel Says Outsider Likely to Be New GM Head: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 11:01 am Jersey Sees Fed Raising Rates Sooner on Jobs Report: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 11:00 am This Week’s LinksBaseline Scenario on why inequality doesn’t benefit society. NPR’s interview with Joshua Kosman, on private equity firms and a coming PE crash, is worth a listen.
Brett Arends on why the new gold rush might indicate a generational bear market for stocks. IBM/Many Eyes has a neat visual map of income and poverty levels by US county.
Source: Business Pundit | 4 Dec 2009 | 10:53 am Dear Team TepperPerformance for David Tepper's Appaloosa Management (excuse the watermark. The dear friend who sent it had to remove the original one so as not to incriminate himself and replaced it with something else):
Source: Dealbreaker | 4 Dec 2009 | 10:42 am Bing: Sometimes, the Internet lies to usSource: Business and financial news - CNNMoney.com | 4 Dec 2009 | 10:42 am Reckless banks still to payHenny Sender on how banking recklessness may still haunt the sector months after the worst of the downturnSource: Financial Times - US homepage | 4 Dec 2009 | 10:36 am Dubai ruler’s racehorse buying spree faltersSheikh Mohammed’s passion for horses may become a casualty of his emirate’s debt crisisSource: Financial Times - US homepage | 4 Dec 2009 | 10:31 am FTSE 100 advances on impressive US data (AFP)
Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 10:26 am Dollar surge reins in European, US stock advance (AP)
Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 10:16 am Dollar surge reins in European, US stock advance (AP)
Source: Yahoo! News: Business | 4 Dec 2009 | 10:16 am Glassman Says U.S. Overestimates Employed by 1 Million: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 10:13 am Kurtz Calls Chinese Exports `Glaring' Disappointment: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 10:12 am MFP's Price Says He Bought Bank of America Shares: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 10:11 am Jobs Data Makes Everything Look, Smell, Taste Better (Even Ping's Effluence)
But there's other stuff going on, boring though it might be. Jobs figures, for instance, which always seem to send everyone into a frenzy. Especially when it's "good" news. To wit: Employers canned just 11,000 people last month, less than one-tenth the number expected and fewer than in any month since 2007, when we still had an economy. Even better news: A handful of the unemployed have just given up looking for work, helping nudge the unemployment figure down two-tenths of a percent to 10%. Those of us suckers who are actually working about 12 minutes more per week, too! Bully!
Source: Dealbreaker | 4 Dec 2009 | 10:09 am PFG to pay creditorsChristchurch-based mortgage lender PropertyFinance Group Ltd (PFG) is to pay some creditors in shares and is also offering to convert redeemable preference shares into ordinary shares. Wholly owned subsidiary PropertyFinance Securities...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:50 am This Week’s Weird Jobs
1. CA: Plumbing Superstar Help…….. We have more work then we can handle are you our next superstar? Have people called you great Plumber? Do you like it when your work day flies by? Come and join an incredible growing team of professionals. We are looking for super star Plumbers who want to join a hip company that knows how to have fun. This person should be personable, energetic, efficient, and responsible with strong work ethics and of course super star powers. We promise you will never be bored in our fast paced environment! Leaky faucets and clogged toilets have never held such glamor. 2. CA: YOU CAN FLIP HOUSES OR FLIP BURGERS?? U DECIDE… If you’ve worked in any real estate job other than an investor, usually the investor is the one making the most money at the end of the day. Are you ready to get in the game? We are looking for a few individuals who are ready to work hard and get in the game of real estate investing. We are a local and national group of investors that complete real estate deals regularly. Mentorship and training are with you every step of the way. Our local group of investors meet regularly to discuss how they are making the most money in this opportunistic market. Dear prospective burger joint employees: Note that flipping homes in a bad economy might not actually be that good an idea, either. MasterDrive is adding to our instructor staff. This job is not for the weak or weary as new teen drivers will challenge you. However, teaching them to be DRIVERS will provide more value to YOU than you can possibly imagine. This is about saving lives and making a positive contribution to young people throughout our city. You need to bring energy, enthusiasm and a commitment to helping others learn skills that will someday save their lives, as well as teaching the rules of the road. You also need to have ten years experience as a licensed driver. We select only the best, so put your best foot forward and CONVINCE us that you need to be one of the few that get an interview. You will be screened for sedative addictions, heart conditions, and anger management skills before we hire you. Would you like to stop accidents? Perhaps you are Christian and you hate abortion more than anything. Well, I guarantee you will prevent more than one abortion by snipping my vas. Perhaps you’re a liberal and you hate seeing kids grow up in poverty. You get the drift. Yes, this is a serious post. Please reply only if you have experience doing vasectomies, and you are willing to do one “pro-bono”. P.S. I called Planned Parenthood already. They want $500. Just make sure that homegrown O.R. in your basement is sanitary and all. Happy Friday!
Source: Business Pundit | 4 Dec 2009 | 9:23 am Tower wins fund awardTower has been named 2009 fund manager of the year in the FundSource Managed Fund Industry Awards. It is the fourth time Tower has won the award in the last nine years. Tower also took out two sector awards this year in the...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:20 am Sales tricks warning at ChristmasThe consumer minister warns Christmas shoppers about misleading sales tactics in the run-up to the festive season.Source: BBC News | Business | World Edition | 4 Dec 2009 | 9:18 am UN stresses aid role of businessThe UN's top aid official urges humanitarian bodies and the private sector to find better ways of working together.Source: BBC News | Business | World Edition | 4 Dec 2009 | 9:12 am 2009 New Zealander of the Year - Business: Mike DaniellSo how do we catch up with Australia by 2025? Don't ask Mike Daniell."I'm not a politician or an economist," says the quietly spoken F&P Healthcare boss. "So I don't really know what the answer is there."Daniell, who has headed...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am Window closing for telcos to forge dealThe three mobile telcos have less than two weeks to table their best offer for mobile termination rates with the Commerce Commission.In a letter to Telecom, Vodafone and 2degrees, Telecommunications Commissioner Ross Patterson...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am Goldminer in China talks on TalismanExploration company Heritage Gold is talking to potential joint-venture partners in China to develop the historic Talisman mine.Heritage has been granted a 25-year permit to mine in the Talisman area which could produce gold and...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am DNZ investors temper their delight with cautionThe delight of DNZ Property Fund investors who wanted to stop a planned float was yesterday tempered with caution about the next step of the deal.On Thursday, DNZ's management pulled the $130 million sharemarket float citing investor...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am Brian Gaynor : Market not up to task of closing gap with AussiesThe first Taskforce 2025 report shows that Don Brash and the other members of the review team are out of touch with reality.They believe that "the market" will close the economic gap between us and Australia yet many of our markets...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am Tallest tower last monument to excessDUBAI - When work began in 2004 to build the world's tallest tower, Dubai's confidence was also sky high with a host of mega-projects on the drawing board or rising from the sands.That swagger seems positively old school these...Source: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am Nominees for 2009 New Zealander of the Year: BusinessThe following business people were nominees for the 2009 New Zealander of the Year - Business: * Rob Fyfe * Paul Reynolds * Simon Challies * Jeremy Moon * Rod Drury * Alison Paterson * Diane ForemaSource: nzherald.co.nz - Business | 4 Dec 2009 | 9:00 am Southerners spend 435m euro in NIShoppers from the Irish Republic spent 435m euros north of the border in the year to June, a survey indicates.Source: BBC News | Business | World Edition | 4 Dec 2009 | 8:59 am Video Game Sector Woes Far Beyond Take-Two, Near-Term Anyway (TTWO, NTDOY, WMT, AMZN, SNE, MSFT, ATVI, ERTS, AAPL)The video game sector is not improving with the economy. It seems to not even be getting ‘less-bad’ with the other sectors that are looking ‘less-bad’ compared to earlier months. Last night’s awful earnings and forecast from Take-Two Interactive Software (NASDAQ: TTWO) does highlight the risks or issues today in the video game sector, but [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 4 Dec 2009 | 8:45 am Why Rich Consumers Matter MoreBy Daniel Costello Here's an interesting post from U.S. News & World Report on the seeming paradox that consumer spending is rising while unemployment remains at its highest level in nearly three decades. The latest data shows that consumer spending rose 0.7 percent in October, while incomes rose just 0.2 percent That raises the question: how are unemployed consumers getting the money to buy all this stuff? The article concludes it's the rich that are pulling us out of our economic doldrums. Thoughts? Here's the argument. With so many consumers out of work, the money has to be coming from somewhere. One possibility is that a wide swath of Americans are drawing down on savings to snap up cash-for-clunker car discounts and sales at the mall. But that's unlikely: the saving rate only recently dipped according to the latest data and it's been rising all year. Are people taking on more debt? Fat chance as credit card companies continue to pull back on credit limits and lenders remain skittish to sign new auto or home loans for anyone without diamond-worthy credit. That leaves assets. While home values are still falling, the stock market is up this year, nearly 23%. While the middle-class have alot of their savings in the stock market, much of it is in pensions and retirement accounts so it's not likely being used to buy new flat-screens. That leaves the only other group who could spend extra cash from savings or this year's stock gains: the rich.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Dec 2009 | 8:39 am Kraft Foods details Cadbury bidKraft Foods posts its offer document for Cadbury, valuing the UK confectioner at at £10.1bn (£16.8bn).Source: BBC News | Business | World Edition | 4 Dec 2009 | 8:18 am BofA board to meet on Tuesday, may discuss CEONEW YORK (Reuters) - Bank of America Corp's board is scheduled to meet next Tuesday and may discuss the appointment of a new chief executive, a bank spokesman said.Source: Reuters: Business News | 4 Dec 2009 | 8:15 am Morning Report: Jobless Rate Falls; Estate Tax Might Stick Around
Click to enlarge. (Source: Bureau of Labor Statistics) By Daniel Costello In a bit of early holiday cheer, the nation's unemployment rate unexpectedly eased to 10 percent in November from 10.2 percent in October, the Labor Department said today. The report said employers shed a net 11,000 jobs last month. In the prior 3 months, payroll job losses had averaged 135,000 a month. The U.S. economy started this year with a loss of 741,000 jobs in January, but the pace of job declines has been moderating steadily. Still, the labor survey indicated that the number of long-term unemployed workers (those not working for 27 weeks or more) rose to 5.9 million and many analysts expect the unemployment rate to climb again in the coming months. This morning's numbers come as President Obama heads to Allentown, Pa., his first stop in a multi-city tour of regions hit hard by the recession. The dollar extended recent gains on Friday, hitting a three-week high against the yen, after today's unemployment news as traders appear to be betting U.S. interest rates may rise sooner rather than later. And with a year-end deadline approaching, Congress moved to prevent a repeal of the estate tax from taking place next year, voting instead to approve a permanent extension of the current levy. It's unclear if the legislation will make it through the Senate. The House bill exempts the first $3.5 million of an estate, or $7 million for married couples, and taxes inherited wealth above that at 45 percent, the same as the 2009 rate. It passed by a vote of 225 to 200, largely along party lines, with most Democrats in favor and Republicans in opposition. If it fails in the Senate, the Bush-era tax will phase out. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 4 Dec 2009 | 7:55 am Ostwald Says Dollar Index May Decline to 65: AudioSource: Bloomberg - All Podcasts | 4 Dec 2009 | 7:33 am GM plans management shakeup, to reassign Lutz: reportDETROIT (Reuters) - In a sharp move three days after replacing Chief Executive Fritz Henderson, General Motors Co Chairman and Chief Executive Officer Ed Whitacre is expected to announce a management shake-up on Friday that includes reassigning Vice Chairman Bob Lutz, the Wall Street Journal reported.Source: Reuters: Business News | 4 Dec 2009 | 6:33 am Call for more tax credits claritySome people are missing out on backdated working tax credit payments to which they are entitled, says a campaign group.Source: BBC News | Business | World Edition | 4 Dec 2009 | 6:27 am Morrisons boss quits post earlyMarc Bolland, the soon-to-be head of Marks and Spencers, leaves his post as Morrisons chief executive two months early.Source: BBC News | Business | World Edition | 4 Dec 2009 | 6:08 am European stocks drop before US jobs data (AFP)
Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 5:15 am Tokyo bourse ordered to pay Mizuho $121M damages (AP)AP - A court ordered the Tokyo Stock Exchange Friday to pay 10.7 billion yen ($121 million) in damages to Mizuho Securities Co. Ltd. over massive losses in a botched transaction.Source: Yahoo! News: Stock Markets News | 4 Dec 2009 | 4:36 am Thank You, Classic Rock
Source: Business Pundit | 4 Dec 2009 | 4:17 am
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