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A National Sales Tax To Cure What Ails The National DebtPoliticians and economists are forever coming up with new ideas to lower the national debt which is now over $12 trillion and growing rapidly. The New York Times reports that the idea of a national sales tax or value added tax is back on the table as a way to offset rising deficits. As the paper [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Dec 2009 | 3:40 am Usmanov raises stake in ArsenalRussian billionaire Alisher Usmanov buys more shares in Arsenal football club, increasing his stake to just over 26%.Source: BBC News | Business | World Edition | 11 Dec 2009 | 3:30 am Delayed European troop plane in maiden flightSEVILLE, Spain (Reuters) - Europe's new military transport plane, the Airbus A400M, made its first test flight on Friday as buyers resumed talks on how to keep the delayed 20 billion euro ($29.5 billion) project airborne.Source: Reuters: Business News | 11 Dec 2009 | 3:30 am People vs. Car Alarm
Source: Business Pundit | 11 Dec 2009 | 3:22 am Moody’s Still Concerned About US And UK DebtMoody’s (NYSE:MCO) made comments about its rating on US and UK sovereign debt that were meant to calm the markets. Early in the week the credit agency said that one or both countries could lose their “Triple A” ratings if the increase in their national debts began to tax their abilities to raise money in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Dec 2009 | 3:22 am Iraq holds oil auction, Shell wins giant field (Reuters)Reuters - Royal Dutch Shell and Malaysia's Petronas on Friday won the rights to develop one of the world's largest remaining untapped oilfields as Iraq staged its second auction of oil contracts since the 2003 U.S. invasion.Source: Yahoo! News: Business | 11 Dec 2009 | 3:21 am Iraq holds oil auction, Shell wins giant fieldBAGHDAD (Reuters) - Royal Dutch Shell and Malaysia's Petronas on Friday won the rights to develop one of the world's largest remaining untapped oilfields as Iraq staged its second auction of oil contracts since the 2003 U.S. invasion.Source: Reuters: Business News | 11 Dec 2009 | 3:21 am UK factory input prices increaseThe cost of materials and fuels bought by UK factories rose at their fastest annual pace in a year in November.Source: BBC News | Business | World Edition | 11 Dec 2009 | 3:18 am London higher as miners cheer China dataLondon stocks moved higher on Friday after Asian markets were buoyed strongly by a number of data releases from China that indicated a robust economic recovery.China's industrial output in November picked...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 3:17 am Pre-Budget report: No 10 denies Brown blocked Darling recovery planThe Treasury and Downing Street have denied reports that Gordon Brown and Alistair Darling were at odds over how far the Chancellor should go in setting out plans to reduce Britain's record debt in this week pre-Budget report.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 3:15 am China data lifts Asia stocks -- outside of ChinaAsian shares ended mostly higher Friday after data from China appeared to show that the economic recovery there is gaining momentum while brighter U.S. jobs data lifted stocks on Wall Street.
Source: MarketWatch.com - Top Stories | 11 Dec 2009 | 3:10 am Strong Chinese data boost global stocks09:45 GMT. Strong industrial production numbers out of China looked set to help global equities finish a choppy week on the front foot, with Japan stocks surging as the yen's haven demand waned.Sentiment...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 3:06 am Strong Chinese data boost global stocksGlobal markets overview: European stocks open higher after strong industrial production data from China help Asian markets finish a choppy week in positive moodSource: Financial Times - US homepage | 11 Dec 2009 | 3:06 am The China Miracle Continues As Economic Recovery SurgesThe remarkable resilience of the Chinese economy and the effectiveness of its $585 billion stimulus package were on display as the nation released key economic data for November. Retail sales grew almost 16%. New loans were up 29%. Factory output was up over 19%. The drop in exports from China was small in November, barely more than 1%. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Dec 2009 | 3:01 am National Savings pulls policiesSome of the most attractive accounts offered by National Savings & Investments have been withdrawn.Source: BBC News | Business | World Edition | 11 Dec 2009 | 2:56 am Debt fears hit Greek bond pricesGreek government bonds are having their worst week in at least 11 years as investors worry over the country's finances.Source: BBC News | Business | World Edition | 11 Dec 2009 | 2:52 am NS&I withdraws all its fixed-rate savings bondsNational Savings & Investments has taken its entire range of fixed-rate savings bonds off the market.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 2:52 am Stock futures point up; retail sales eyed (Reuters)
Source: Yahoo! News: Business | 11 Dec 2009 | 2:50 am Stock futures point up; retail sales eyed(Reuters) - Stock index futures pointed to a higher opening for Wall Street on Friday ahead of U.S. retail sales data, with futures for the S&P 500, Dow Jones industrial average and Nasdaq 100 up 0.4 to 0.7 percent at 0937 GMT.Source: Reuters: Business News | 11 Dec 2009 | 2:50 am Stock futures point up; retail sales eyed (Reuters)
Source: Yahoo! News: Stock Markets News | 11 Dec 2009 | 2:50 am Video Game Sales Hammered Again In November (TTWO)(ERTS)(SNE)(MSFT)The holiday shopping season and price cuts are not helping video game sales. November figures from industry research firm NPD show sales of software and consoles in the US dropped almost 8% to $2.7 billion. The Nintendo Wii picked up some of its lost momentum. Its sales figures in October were unusually poor for the market leader. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Dec 2009 | 2:47 am Airbus A400M makes its first flightThe Airbus A400M military transport plane made its long-awaited maiden flight Friday, in what investors and industry watchers fervently hope is be a definitive sign Europe’s largest defense project is finally off the ground.
Source: MarketWatch.com - Top Stories | 11 Dec 2009 | 2:43 am Shell wins Iraq oil field rightsA consortium led by Shell wins the rights to develop Iraq's giant Majnoon oil field, and other contracts are awarded.Source: BBC News | Business | World Edition | 11 Dec 2009 | 2:41 am Britain's credit rating threatened as Cabinet finances row emergesBritain's international credit rating was today threatened as it emerged Gordon Brown blocked a move by the Treasury to raise VAT in Wednesday’s Pre-Budget Report. Source: Latest Business News from Times Online | 11 Dec 2009 | 2:37 am European Union presses IMF to consider Tobin taxEuropean Union increases pressure on International Monetary Fund to look at global tax on financial transactions.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 2:32 am World markets climb as China's exports improve (AP)
Source: Yahoo! News: Stock Markets News | 11 Dec 2009 | 2:31 am World markets climb as China's exports improveWorld markets advanced Friday as a big improvement in China's exports pointed to rising global demand that could lift other trade-reliant economies. Benchmarks in Tokyo and Hong Kong ledSource: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 2:31 am London Markets: Miners pull London shares higherMiners took the lead in London on Friday, gaining after data out from China indicated that recovery for the region is on track and a broker reiterated its positive stance on the sector.
Source: MarketWatch.com - Top Stories | 11 Dec 2009 | 2:25 am ING gains on hopes aid repayment terms will easeShares in ING Group climbed nearly 7% Friday after the Dutch banking and insurance firm confirmed its plan to repay half of the state aid it’s received and said the government may be willing to renegotiate the terms for repaying the second half.
Source: MarketWatch.com - Top Stories | 11 Dec 2009 | 2:23 am HMV losses narrow, eyes opportunities created by rivals' woesHMV, the music, games and books retailer, said it hoped to take advantage of opportunities created by the exit of rivals such as Zavvi and Borders UK as it reported first-half seasonal losses narrowed by 9.4pc to £24.6m pre-tax.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 2:16 am Sweden's EQT Partners buys Springer Science+Business MediaEQT Partners, the Swedish private equity firm owned by the Wallenberg family, has agreed to buy German academic publisher Springer Science+Business Media.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 2:15 am EU calls for tax on bank tradesEU leaders urge the International Monetary Fund to consider implementing a global tax on financial transactions.Source: BBC News | Business | World Edition | 11 Dec 2009 | 2:12 am FTSE stable at the open (AFP)
Source: Yahoo! News: Stock Markets News | 11 Dec 2009 | 2:11 am Shell and Petronas win Iraqi oil contractA joint bid by the oil companies Shell and Petronas today won the contract for one of Iraq’s “supergiant” oilfields, as part of a two-day auction intended to boost dramatically the country’s crude oil output. Source: Latest Business News from Times Online | 11 Dec 2009 | 2:01 am Media Digest 12/11/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: The pressure is on big oil companies such as Exxon (NYSE:XOM) and BP (NYSE:BP) to find inexpensive oil reserves in Iraq. Reuters: Moody’s (NYSE:MCO) sees no threat to the US debt rating for now. Reuters: Obama plans a TARP for small business. Reuters: Rental income in buildings for residential occupancy will remain weak. Reuters: The House is near [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Dec 2009 | 1:59 am UK's AAA rating under threatMoody's, the international credit rating agency, warned today that it could cut the UK's coveted credit rating if Britain fails to sort out its fiscal deficit within the next three years. Source: Latest Business News from Times Online | 11 Dec 2009 | 1:55 am Stocks and oil firmer as data reasssures (Reuters)
Source: Yahoo! News: Stock Markets News | 11 Dec 2009 | 1:54 am Stocks and oil firmer as data reasssuresLONDON (Reuters) - World stocks extended gains and oil rebounded on Friday as upbeat data from China and the United States underscored an economic recovery, weighing on safe-haven government bonds and the low-yielding yen.Source: Reuters: Business News | 11 Dec 2009 | 1:54 am UPDATE 1-New Chinese rules put AXA's Taikang sale on hold* Rules imply owner of insurance stakes should be strategicSource: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:52 am UPDATE 1-New Chinese rules put AXA's Taikang sale on hold* Rules imply owner of insurance stakes should be strategicSource: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:52 am China export slump eases as global demand revivesChina's exports fell 1.2 percent from a year earlier in November, the smallest decline this year as nascent recoveries in the U.S. and other big markets helped revive demand. Imports...Source: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:49 am China mobile carriers to simplify, reduce fees* Shares for country's 3 telcos drop, trailing marketSource: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:48 am Europe Markets: Miners lead European shares to gainsEuropean shares rose on Friday, with miners lifted by hopes for rising demand for metals after data indicated that China’s economic recovery continues to strengthen.
Source: MarketWatch.com - Top Stories | 11 Dec 2009 | 1:44 am Springer publishing group sold for €100mCandover Investments and Cinven, the private equity groups, have today sold Springer, the leading academic business publisher, in a deal worth a total of €2.3 billion (£2 billion), including a mountainous debt pile. Source: Latest Business News from Times Online | 11 Dec 2009 | 1:37 am Shell-Petronas win Iraq's Majnoon oil dealA consortium led by European oil giant Shell has won the rights to develop Iraq's giant Majnoon oil field, an almost 13 billion barrel behemoth that is the largest on offer in the country'sSource: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:36 am Asia Markets And Europe Open (12/11/2009)Markets in Asia were higher. The Nikkei rose 2.5% to 10,108. The Hang Seng rose .9% to 21,902. The Shanghai Composite was down .2% to 3,247. At the open in Europe, the FTSE was up .6% to 5,277. BHP Billiton (NASDAQ:BHP) and Rio Tinto (NYSE:RTP) rose. The Dax was up .8% to 5,755. The CAC 40 moved higher by [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Dec 2009 | 1:32 am EU leaders want IMF to mull global transactions taxEuropean leaders on Friday urged the International Monetary Fund to examine the global so-called 'Tobin' tax to give money back to society in boom times, according to a draft summit...Source: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:26 am Questions, answers on Wall Street regulation billHere are some questions and answers on highlights of the bill: Q. Who does it affect? A. Financial institutions, both banks and nonbanks; homeowners, borrowers and credit card...Source: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:25 am Credit rating agencies: the untouchable kings of financeTheir judgments can change the fortunes of nations, but why do the rating agencies still wield such power, asks Jeremy Warner.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 1:13 am China recovery gathers strengthChina shows further signs of economic recovery with industrial output surging and its export slump easing.Source: BBC News | Business | World Edition | 11 Dec 2009 | 1:04 am New Chinese rules put AXA's Taikang sale on holdHONG KONG, Dec 11 (Reuters) - The auction for French insurer AXA's stake in China's No.4 life insurer, Taikang Life, has been put on hold amid growing concerns about new rules from China's insurance regulator,...Source: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:03 am New Chinese rules put AXA's Taikang sale on holdHONG KONG, Dec 11 (Reuters) - The auction for French insurer AXA's stake in China's No.4 life insurer, Taikang Life, has been put on hold amid growing concerns about new rules from China's insurance regulator,...Source: RSS feed - channel BNewsBusiness | 11 Dec 2009 | 1:03 am Pre-Budget report: Alistair Darling's bonus tax sends out global tremorsIn his pre-Budget report, the Chancellor moved to assuage public anger over bank pay with a 'one-off' tax on bonuses, prompting bankers to warn they would be driven abroad. We report on the reaction to the tax in other countries.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 1:02 am Editor & Publisher, Kirkus Reviews to be shutNielsen Business Media will stop publishing the trade magazines. One covers the newspaper industry; the other reviews books.The ever-shrinking world of print journalism shrank a little more Thursday.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Few troubled mortgages being modified permanentlyOnly 31,382 of more than 700,000 home loans in the federal program have been converted, data show.Federal data released Thursday showed just how poorly banks are doing at turning the growing number of temporary loan modifications into permanent ones under the Obama administration's effort to curtail foreclosures.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Editor & Publisher, Kirkus Reviews to be shutNielsen Business Media will stop publishing the trade magazines. One covers the newspaper industry; the other reviews books. ...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am Business BriefingOversight of wireless industry found lacking
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Unilever to close City of Industry plant, eliminate 61 jobsThe closure is expected to be complete by the third quarter of 2010. Consumer products maker Unilever said Thursday...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am CalPERS, CalSTRS see long-term credit ratings loweredMoody's cites the pension funds' steep investment losses in downgrading them three notches to Aa3. The firm keeps their short-term ratings unchanged. ...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am Goldman Sachs scraps cash bonuses for 30 top executivesThe Wall Street firm instead will give them stock and bar them from selling it for five years. Critics call the move window dressing instead of real reform.Facing persistent criticism of its huge pay packages, investment banking powerhouse Goldman Sachs Group Inc. said Thursday that it would buck long-standing Wall Street tradition and pay no year-end cash bonuses to 30 top executives.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am 2010 Jeep Wrangler four-door Rubicon: The last American ChryslerIn November, during a marathon eight-hour press conference I'm delighted to have missed, Fiat Chairman Sergio Marchionne outlined how Fiat and its new corporate holding Chrysler would collaborate on future products.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Stocks rise as trade deficit narrowsA jump in exports in October pushes the Dow up 68 points. Treasury yields and gold prices also climb.Stocks rallied for a second day Thursday as a jump in U.S. exports offset concerns about an increase in unemployment claims.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Business BriefingOversight of wireless industry found lackingSource: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am New Paramount division will think smallThe as-yet-unnamed unit will concentrate on developing only movies with a production budget of less than $100,000.Fresh off the stunning success of "Paranormal Activity" -- a $15,000 thriller that has grossed more than $107 million in domestic release despite little paid advertising -- Paramount Pictures is set to launch a new production business for movies budgeted at less than $100,000.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Latin America poised for economic reboundLed by resource-rich Brazil, the region is forecast to enjoy 4.1% growth next year, far outpacing the U.S.From appliance stores in Brazil to auto assembly lines in Mexico, signs are evident that Latin America has seen the worst of the global economic crisis and is poised for solid expansion.
Source: L.A. Times - Business | 11 Dec 2009 | 1:00 am Fixed-rate mortgages still averaging well below 5%30-year loans averaged 4.81% and 15-year loans averaged 4.32%, a weekly Freddie Mac survey shows. Those rates, of course, are for borrowers with solid credit who can put 20% down. ...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am New Paramount division will think smallThe as-yet-unnamed unit will concentrate on developing only movies with a production budget of less than $100,000. ...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am Hollywood Reporter, Billboard and other publications to be sold to consortiumAn investor group including James Finkelstein, whose company controls political publications in Washington, also agrees to buy Adweek, Back Stage and trade shows in a deal with Nielsen Business Media...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am Stocks rise as trade deficit narrowsA jump in exports in October pushes the Dow up 68 points. Treasury yields and gold prices also climb. Stocks rallied...Source: RSS feed - channel BNPaperBusiness | 11 Dec 2009 | 1:00 am Waterstone's drags HMV to first-half lossHMV, the music, DVDs and books retailer, today reported a half-year pre-tax loss of £24.9 million, dragged down by weak sales at Waterstone's, its book franchise. Source: Latest Business News from Times Online | 11 Dec 2009 | 12:45 am HMV sees gains from fewer rivalsMusic, games and books retailer HMV says its losses have shrunk after several competitors have collapsed.Source: BBC News | Business | World Edition | 11 Dec 2009 | 12:34 am Moody's sees no threat to U.S. top rating for nowHONG KONG (Reuters) - The top sovereign credit ratings of Britain and the United States are not under threat of a downgrade right now, but a worst case scenario foresees a cut by 2013, analysts from Moody's Investors Service said on Friday.Source: Reuters: Business News | 11 Dec 2009 | 12:31 am Moody's sees no threat to U.S. top rating for now (Reuters)Reuters - The top sovereign credit ratings of Britain and the United States are not under threat of a downgrade right now, but a worst case scenario foresees a cut by 2013, analysts from Moody's Investors Service said on Friday.Source: Yahoo! News: Business | 11 Dec 2009 | 12:31 am Bonanza for Indian matriarch in £1.3bn floatThe power company controlled by India’s richest woman is planning to raise as much as 100 billion rupees (£1.3 billion) in what will be the largest initial public offering (IPO) in India in two years. Source: Latest Business News from Times Online | 11 Dec 2009 | 12:30 am This Week’s LinksAlan Gregerman’s new blog is fantastic. Lynn Gaertner-Johnson shares some useful tips on how to write a holiday message for clients and business associates. Oligopoly Watch is worth a look. Keith Ferrazzi has a good system for tracking your professional relationships.
Source: Business Pundit | 11 Dec 2009 | 12:21 am NPower launches its own boiler scrappage schemeNPower has to offer its own boiler scrappage scheme in addition to the scheme offered by the Government.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 12:20 am Pre-Budget report: French to follow London on bonus taxFrance intends to follow Britain's lead on imposing a 50pc tax on bank bonuses, the Elysée confirmed on Thursday as Nicolas Sarkozy and Gordon Brown jointly called for a "level playing field" on global financial regulation.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 12:20 am Pre-Budget Report: there's still time to avoid stamp dutyThere's still time to avoid stamp duty, but only if you act quickly.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Dec 2009 | 12:10 am Wendy's burgers to go from JapanBurger chain Wendy's is to withdraw from Japan after local operator Zensho ends its contract with the US firm.Source: BBC News | Business | World Edition | 11 Dec 2009 | 12:08 am Aussie market closes 28 points upSYDNEY - The Australian share market closed higher on Friday, ending a run of four straight losing sessions amid thin volumes and lacklustre trading conditions.At 1615 AEDT, the benchmark S&P/ASX200 index had risen 28.5 points,...Source: nzherald.co.nz - Business | 11 Dec 2009 | 12:04 am China’s economic recovery gathers paceThe rebound in the Chinese economy accelerated again in November with industrial production rising by a larger-than-expected 19.1% compared with the year beforeSource: Financial Times - US homepage | 11 Dec 2009 | 12:04 am Consumer prices rise as China powers out of crisis (AFP)
Source: Yahoo! News: Business | 10 Dec 2009 | 11:46 pm Market gives back yesterday's gainsAllied Farmers shares closed steady at 20c despite the Securities Commission's decision to seek more information on unusual trading of a parcel of those shares in which the price fell 8c to 20c yesterday when only 125,000 shares changed...Source: nzherald.co.nz - Business | 10 Dec 2009 | 11:38 pm NZ dollar ease from two-week peakThe New Zealand dollar eased from a two-week high near US$73.20c early today, but one market analyst suggests it's only a brief respite before the kiwi heads higher again.After easing from its early morning peak to US72.81c at...Source: nzherald.co.nz - Business | 10 Dec 2009 | 10:49 pm Economic Report: China output, exports improve as inflation returnsChinese industrial production accelerates in November to its fastest rate this year, highlighting a continued strengthening in the nation’s government-stimulus-driven economic recovery.
Source: MarketWatch.com - Top Stories | 10 Dec 2009 | 10:41 pm Obama plans TARP aid for small businesses: report (Reuters)Reuters - The Obama administration plans to channel money from the government financial bailout fund to small businesses in an effort to stem the political and economic fallout of high unemployment, the Washington Post said in its Friday editions.Source: Yahoo! News: Business | 10 Dec 2009 | 10:22 pm Obama plans TARP aid for small businesses: reportWASHINGTON (Reuters) - The Obama administration plans to channel money from the government financial bailout fund to small businesses in an effort to stem the political and economic fallout of high unemployment, the Washington Post said in its Friday editions.Source: Reuters: Business News | 10 Dec 2009 | 10:22 pm Boeing: Dreamliner almost ready for test flightBoeing says it had completed static tests on its long-delayed 787 Dreamliner and is ready to begin test flights, with one report adding that the jet could take to the skies as early as next week.
Source: MarketWatch.com - Top Stories | 10 Dec 2009 | 10:14 pm Peter Brimelow: From 'markets nerd' to 'flashy promoter'A key letter editor says don’t let gold’s gut-check fool you -- the yellow metal is headed up. But how would he know?
Source: MarketWatch.com - Top Stories | 10 Dec 2009 | 10:12 pm Realty Q&A: Why many home-price measures may be misleadingI have noticed that some reports regarding housing prices reference "average" pricing while others refer to "median" pricing. Are both average and median considered roughly equally reliable measures of value?
Source: MarketWatch.com - Top Stories | 10 Dec 2009 | 10:01 pm Jon Friedman's Media Web: An 'Entourage' film could boost HBOIt’s said that “Entourage,” HBO’s hit comedy, is really “Sex and the City” for guys. It could be a great move for Time Warner.
Source: MarketWatch.com - Top Stories | 10 Dec 2009 | 10:01 pm 5 Beloved Tax Perks With Ugly Downsides (By the Numbers)Hough: Voters cheer for these programs, but shouldn't.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm Small Business Success: Luck or Pluck?Our columnist asks whether a fast-growing eyebrow salon has a future.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm The Suddenly Brighter Employment Picture (Broker Talk)If people start getting jobs, what will happen to stocks?
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm This Week's Business Tweets: The Stock Tax (Twitter Beat)A note to Steve Jobs, the latest ETF gimmicks and the sad state of the dollar.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm Year-End Saving Strategies for Retirees, Part 2A to-do list for shoring up your savings. Today: Let your retirement plan be.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm The Coupon Clipper: Beware of Sale Mail (Deal of the Day)We find bargains on magazines, Lenovo computers and Lee jeans.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm Buying Green Makes You Do Bad Things (Money and Your Mind)Buying "green" products makes us feel better, but act worse.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm A Calling Plan South of the BorderMexico's America Movil may be the best cellphone play in emerging markets.
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm 5 Smart Books: Looking Forward (Consumer Action)Which economic bubbles will pop next? The worrisome premise of "Aftershock."
Source: SmartMoney.com | 10 Dec 2009 | 10:00 pm Few punished, compensated a year on from Madoff arrestA year after Bernard Madoff's arrest in Wall Street's biggest fraud, only three people have admitted guilt, few victims have been compensated and billions of dollars remain missing.It was 12 months ago this week that Madoff -...Source: nzherald.co.nz - Business | 10 Dec 2009 | 9:15 pm F & P Appliances announces new CEOFisher & Paykel Appliances has announced a new chief executive and managing director.Stuart Broadhurst has been appointed to the roles, effective from today.Broadhurst, who began work at the company as a graduate accountant...Source: nzherald.co.nz - Business | 10 Dec 2009 | 9:00 pm A Web studio in a kitIn June, Missouri doctor Stuart Hoover needed to create a Web video to market his new wellness center in Springfield. He had farmed out similar video projects in the past, at a cost of thousands of dollars and weeks of waiting. This time he took a chance on a $300 product called Instant Video Presenter, from St. Louis company ej4.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 8:15 pm Goldman top executives to take bonuses in stockNEW YORK (Reuters) - Goldman Sachs Group Inc plans to pay top managers their 2009 bonuses in stock, rather than cash, as it seeks to deflect outrage over a near-record pay haul months after it repaid billions of dollars in taxpayer aid.Source: Reuters: Business News | 10 Dec 2009 | 7:27 pm Ford CEO Mulally says talked to GM's WhitacreDETROIT (Reuters) - Ford Motor Co Chief Executive Alan Mulally said in a CNBC interview on Thursday that he had talked this week with General Motors Co Chairman and Chief Executive Ed Whitacre.Source: Reuters: Business News | 10 Dec 2009 | 7:25 pm France follows UK on bank bonus taxParis says it will follow London’s lead in levying a supertax on bankers’ bonuses giving added momentum to global efforts to curb high levels of financial sector paySource: Financial Times - US homepage | 10 Dec 2009 | 7:16 pm Urgent inquiry launched into 'unusual' Allied Farmers share tradeStock exchange operator NZX has referred what it called "unusual" trading in Allied Farmers shares yesterday to the Securities Commission for urgent inquiry under the commission's statutory powers.Allied Farmers shares fell 8c...Source: nzherald.co.nz - Business | 10 Dec 2009 | 7:00 pm More passengers help Akl Airport profit outlookAuckland Airport is expecting 2010 net profit to be at the high end of its previously announced range, between about $93 million and $100m, mainly due to improving passenger numbers.Total international and domestic passenger numbers...Source: nzherald.co.nz - Business | 10 Dec 2009 | 6:00 pm Goldman scraps cash bonuses for leadersGoldman Sachs unveiled plans to eliminate cash bonuses for its top 30 executives this year and give the bank’s shareholders a chance to vote on its compensation programs in a bid to quell public anger on executive paySource: Financial Times - US homepage | 10 Dec 2009 | 5:33 pm Bank of America dodges a bulletThe Obama administration's pay czar will outline Friday another round of curbs on executive compensation for companies that took exceptional assistance from the government, but Bank of America won't be one of them.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 5:32 pm Stocks rise as trade deficit narrows in October (AP)
Source: Yahoo! News: Stock Markets News | 10 Dec 2009 | 5:31 pm Obama defends war as the price of peacePresident Barack Obama has defended the US military operation in Afghanistan as he accepted his Nobel peace prize with a speech that came a week after he announced plans to send 30,000 additional troopsSource: Financial Times - US homepage | 10 Dec 2009 | 5:29 pm Nenner on Gold, Stock Cycles; Atorino on Media Industry: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 5:23 pm Accommodation stats up 5pc in OctoberInternational visitors spent 5 per cent more nights in commercial accommodation in October than a year earlier, even as domestic guest nights fell 2 per cent.Overall, the 2.5 million guest nights in October were up 0.5 per cent...Source: nzherald.co.nz - Business | 10 Dec 2009 | 5:13 pm Valuing natureWhen we have put a price on carbon, what will be next?Source: BBC News | Business | World Edition | 10 Dec 2009 | 5:02 pm GM will seek backing for Britain’s car supply chainNick Reilly, the new head of General Motors Europe, will seek talks with the Government to ask for support in propping up Britain’s automotive supply chain, The Times has learnt. Source: Latest Business News from Times Online | 10 Dec 2009 | 5:01 pm Two-year jail sentence for insider traderA dentist who made nearly £110,000 by trading on secret share tips provided by his son, an aspiring stockbroker, was jailed for two years yesterday, while his son received a year in prison. Source: Latest Business News from Times Online | 10 Dec 2009 | 5:01 pm Fight obesity in primary pupils with a fizzy drinks tax, campaigners sayHealth campaigners have called on the Government to tax fizzy drinks such as cola and lemonade as figures show that more than one in five children in England is overweight or obese by the time of starting school. Source: Latest Business News from Times Online | 10 Dec 2009 | 5:01 pm Apple acquires digital streaming service ahead of an expected revampApple is expected to launch a new way of selling music on its iTunes online music store after acquiring Lala, a digital streaming service. The company is thought likely to integrate the technology behind Lala, a Silicon Valley start-up, into iTunes over the next year, offering consumers the chance to listen to tracks via the web. Source: Latest Business News from Times Online | 10 Dec 2009 | 5:01 pm Sell the mansion? Not an optionWith toilet paper stuck to the heel of his shoe, Hanover co-owner Mark Hotchin walked into his Auckland investor meeting yesterday.He might have needed it to deal with some of what was thrown at him by the angry crowd of 400 people.Supporter...Source: nzherald.co.nz - Business | 10 Dec 2009 | 5:00 pm Food prices fall in NovemberFood prices fell 0.3 per cent last month from October, with fruit and vegetable prices down 2 per cent.Publishing the data today, Statistics New Zealand (SNZ) said the food price rise in the year to November of 0.9 per cent was...Source: nzherald.co.nz - Business | 10 Dec 2009 | 4:40 pm Stocks in broad-based rallyStocks rallied Thursday as investors sorted through a bevy of reports on jobs, housing, net worth and the deficit -- and opted to scoop up a variety of shares.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 4:37 pm Dr. Chairman Mao: Please Stop Cheating The WestWestern governments, multinationals, and trade groups will soon have a single form letter that they can send to the communist central government in China. “Dear Chairman Mao: We find that your trade and/or currency pricing practices are not in accordance with those of any other developed free market economy. We understand that we must do business in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Dec 2009 | 4:33 pm Gov't mortgage plan provides little permanent help (AP)
Source: Yahoo! News: Business | 10 Dec 2009 | 4:28 pm Getting mortgage help: Only 4%Only about 4% of troubled borrowers have received long-term help under the Obama administration's foreclosure prevention program, Treasury officials said Thursday.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 4:22 pm How the major stock indexes fared on Thursday (AP)AP - A jump in exports lifted stocks Thursday, offsetting concerns about an increase in unemployment claims. The market came away with moderate gains for the day after the Commerce Department said rising exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase. That eased concerns about an increase in the number of people seeking jobless benefits last week.Source: Yahoo! News: Stock Markets News | 10 Dec 2009 | 3:48 pm Automakers burn though 78% of bailout fundsThe U.S. auto industry has spent nearly 78% of the taxpayer funds lent to it by the Treasury Department through the Troubled Asset Relief Fund, according to a report released Thursday by a bailout overseer.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 3:25 pm Flying over the holidays? Expect crowdsPassengers will still be packed like sardines into planes this holiday season, despite projections for less-crowded skies.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 3:24 pm Pay czar poised for next wave of rulingsNEW YORK/WASHINGTON (Reuters) - The Obama administration's pay czar plans to announce on Friday his next wave of rulings as bailout recipients struggle to get out from under his thumb.Source: Reuters: Business News | 10 Dec 2009 | 3:22 pm Pimco CEO untangles a complicated worldPimco CEO Mohamed El-Erian talks about the post-Lehman, globalizing world and how investors must adapt.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 3:22 pm Dunkelberg Sees Demand for Credit as Biggest Problem: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 3:08 pm Goldman reins in cash bonusesTop executives at Goldman Sachs will receive no cash bonuses this year, the company said Thursday.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 3:04 pm Lilly, Gannett, Time Warner, Ciena are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 10 Dec 2009 | 2:56 pm New ETFs Are Designed for Religious Investors: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 2:56 pm Goldman top executives to take bonuses in stock (Reuters)
Source: Yahoo! News: Business | 10 Dec 2009 | 2:55 pm New jobless claims rise, trade gap narrowsWASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, but a surprise narrowing in the trade gap in October indicated the economy remained firmly on a steady growth path.Source: Reuters: Business News | 10 Dec 2009 | 2:45 pm Mortgage rates still below 5 percent (AP)AP - Mortgage rates rose this week but still remained below 5 percent, Freddie Mac said Thursday.Source: Yahoo! News: Business | 10 Dec 2009 | 2:44 pm Geithner defends AIG bailoutTreasury Secretary Tim Geithner said on Thursday that he had no choice but to pay top dollar to business partners of troubled insurer AIG to avert a deeper financial panic last year.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 2:42 pm Ambac seeks to stay on NYSE by lifting share price (AP)AP - Bond insurer Ambac Financial Group Inc. said Thursday it plans to raise its stock price above $1 within six months to avoid being delisted by the New York Stock Exchange.Source: Yahoo! News: Stock Markets News | 10 Dec 2009 | 2:27 pm Ambac seeks to stay on NYSE by lifting share price (AP)AP - Bond insurer Ambac Financial Group Inc. said Thursday it plans to raise its stock price above $1 within six months to avoid being delisted by the New York Stock Exchange.Source: Yahoo! News: Business | 10 Dec 2009 | 2:27 pm Airplane ReadingBy David Kestenbaum Just arrived in Copenhagen. Here's what I brought to read on the plane. - A study by the Pew Center picking apart the economic analyses looking at why everyone has different estimates for how much it's going to cost to address climate change. - This book about the difficulties of reaching a climate treaty edited by two economists. I list this, not so that you'll read it, but just to point out that it exists at all. The foreward was written by former Treasury Secretary (now Obama advisor) Larry Summers. One of the editors is Joe Aldy, who is now also an advisor to Obama on climate issues. You can read Summers' essay here. He lays out pretty clearly why coming up with a treaty on climate change is particularly difficult, and along the way explains why some buildings at Harvard are so energy inefficient. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Dec 2009 | 2:23 pm This Tiger Ad Has New Meaning Now
Source: Business Pundit | 10 Dec 2009 | 2:20 pm CBOE Set to Join Public Exchanges in IPO (NYX, NDAQ, ICE)It seems that the long quest of the Chicago Board Options Exchange is going to end up in an IPO. The demutualization process has been an ongoing one and a filing from the company today confirmed what we have expected for months and months (or years). The company’s board of directors has approved plans to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Dec 2009 | 2:20 pm U.S. in red for 14th straight monthThe U.S. government rang up a deficit of $120.3 billion in November - the 14th straight month it has spent more than it has taken in.Source: Business and financial news - CNNMoney.com | 10 Dec 2009 | 2:16 pm 52-Week High Club (KO, OXM)The Coca-Cola Company (NYSE: KO) rose over 1.8% to a yearly high of $58.92 after it was announced that drinks made by the company will be sold again by Costco Wholesale Corp (NASDAQ: COST) following a pricing dispute between the two companies. Oxford Industries (NYSE: OXM) surged over 16.5% to a yearly high of $24.55 after [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Dec 2009 | 1:59 pm Attorney pleads guilty in Galleon caseAn investigation into one of the biggest alleged insider trading rings in history widened as a former attorney from Ropes & Gray pleaded guilty to charges of fraud and conspiracy for his role in the scheme.Source: Financial Times - US homepage | 10 Dec 2009 | 1:14 pm Goldman Sachs Awards Bonuses in Stock. Another Smart Move by the Squid.
Instead of year-end cash bonuses, Goldman Sachs is awarding its 30 top executives with stock. The stock can’t be cashed for five years. Bloomberg (via BusinessWeek) has the details: The policy will apply to the 30 members of Goldman Sachs’s management committee, including Chairman and CEO Lloyd Blankfein, Chief Financial Officer David Viniar and the leaders of the firm’s global and regional divisions. Goldman Sachs has been criticized for setting aside $16.7 billion to pay employees in the first nine months of the year after benefiting from government support last year. The New York Times has more of the backstory: Goldman insists that it must pay its employees well to keep them from defecting to rivals. So far this year, it has set aside $16.7 billion to pay its workers this year, a figure that translates into roughly $700,000 a employee. Top producers will earn millions. Mr. Blankfein, who forwent a bonus last year, received a $53.4 million bonus in 2007 — a Wall Street record. Thursday’s developments underscore Goldman’s quandary as Wall Street enters its annual bonus season and comes a day after the British chancellor of the Exchequer stunned London bankers with news that the government there would levy a windfall tax on bank bonuses. The shares-at-risk statement is particularly clever, from a PR perspective. The language is ambiguous enough that the bank can choose how to apply it, but the consequences make you think that Goldman Sachs means business. This move also pressures other Wall Street firms to follow suite. That said, the bankers don’t have to pay taxes on their bonuses quite yet, either. And if only the top 30 executives are getting bonuses in stock, what about GS’s other employees? I bet it’s cash. If nothing else, the folks at Goldman Sachs are pretty smart.
Source: Business Pundit | 10 Dec 2009 | 1:04 pm SEC eyes deals in insider trading probe: sources (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Dec 2009 | 12:53 pm Facebook draws criticism for privacy changesPrivacy groups are assailing Facebook after the world’s largest social networking website made changes to its privacy settings this weekSource: Financial Times - US homepage | 10 Dec 2009 | 12:43 pm An Ambac Delisting? Or Reverse Split? (ABK)Ambac Financial Group, Inc. (NYSE: ABK) has made an SEC filing discussing this week’s press release about receipt of a notice from the New York Stock Exchange that it has fallen below the exchange’s continued listing standard. This is of course related to the price of its common stock being under $1.00. The NYSE requires [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 10 Dec 2009 | 12:40 pm Daimler pledges to preserve 37,000 jobsThe German carmaker has pledged not to make any forced redundancies for the next 10 years at its German Sindelfingen plantSource: Financial Times - US homepage | 10 Dec 2009 | 12:25 pm January 2010 Golf Digest Cover: Tiger Woods, Obama, and Smart Marketing
OK, so it’s not exactly tasteful or relevant, but I think the editors did the right thing by leaving the cover intact. For one, doesn’t it tempt you to pick up a copy of Golf Digest, even if you don’t otherwise read the magazine? The outdatedness of the cover and article have already generated controversy, which could boost sales. Secondly, the cover is kind of a collector’s item, given recent events. It’s like the last tabloid cover of Michael Jackson before his fatality. Or the newspaper front page of Obama’s inaugural speech. The very fact that it’s the last pure Woods cover gives it intrinsic value. Finally, even after the Woods spectacle, Obama can learn from Tiger. He can learn about solidifying an image of integrity from pre-scandal Tiger, while post-scandal Tiger can teach him about what not to do if you want to keep that image intact. The article, if tweaked, could still be timely. By keeping the cover, Golf Digest just made itself more edgy. That, I believe, will be a benefit.
Source: Business Pundit | 10 Dec 2009 | 12:20 pm AOL shares dip in debut, as Time Warner's rise (Reuters)
Source: Yahoo! News: Stock Markets News | 10 Dec 2009 | 11:56 am France To Join Britain With Bonus TaxBy Daniel Costello President Nicolas Sarkozy of France is set to announce Friday the country will impose a one-time tax on bankers' bonuses that will total 50 percent, the same levy Britain announced this week, Finance Minister Christine Lagarde said. France is pushing other countries, especially the United States, to impose a similar banking bonus tax. On Thursday, Sarkozy published a joint letter with Mr. Brown in The Wall Street Journal advocating a one-time tax on big bonuses in the financial sector. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Dec 2009 | 11:55 am Geithner moots Tarp exemption for small banksTim Geithner, US Treasury secretary, advocated exempting small businesses from restrictions attached to the bank bail-out programme that Goldman Sachs, Citigroup and other large banks have been anxious to escapeSource: Financial Times - US homepage | 10 Dec 2009 | 11:36 am Lack of funding holds up probe of blastsThere have been two industrial accidents in Texas recently, but the board in charge of looking at these incidents isn't investigating either one. Why? Nancy Marshall Genzer reports.Source: Marketplace | 10 Dec 2009 | 11:26 am U.S. Trade Gap NarrowsBy Daniel Costello The weaker dollar and slumping demand for oil narrowed the US trade gap and signaled that the US economy could be growing faster than anticipated, commerce department figures showed on Thursday. The trade gap shrank 7.6 percent to $32.9 billion, from a downwardly revised estimate of $35.7 billion in September. Analysts surveyed before the report had expected the gap to widen to about $36.8 billion. U.S. exports of goods and services were the highest since November 2008 and imports the highest since December 2008. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 10 Dec 2009 | 11:17 am House debates financial regulation billFifteen months after Lehman Brothers collapsed there are still no new rules for the financial industry. But the bill for new regulations is finally on the House floor. Jeremy Hobson reports.Source: Marketplace | 10 Dec 2009 | 11:17 am AT&T to iPhone users: Cut back on data!Many people who use iPhones in dense cities like New York or San Francisco have experienced dropped calls. So AT&T has a plan to tackle the problem. You could call it the pretty-please approach to customer service. Stacey Vanek-Smith reports.Source: Marketplace | 10 Dec 2009 | 11:17 am The atmosphere at CopenhagenThere's more going on at the Copenhagen climate conference than delegates sitting around talking about climate policy. European correspondent Stephen Beard discusses the details with Kai Ryssdal.Source: Marketplace | 10 Dec 2009 | 11:17 am China-Taiwan move to thaw relationsOfficials from Taiwan and China are meeting to set up a new round of trade talks. Scott Tong reports on the diplomatic and economic thaw underway.Source: Marketplace | 10 Dec 2009 | 11:17 am New Peeps store gets hoppingThe maker of Peeps, those little marshmallow chicks and bunnies, is opening its first store near Washington, D.C. Sabri Ben-Achour reports.Source: Marketplace | 10 Dec 2009 | 11:16 am Cleveland restaurants serve up successDespite Cleveland's problems with foreclosures and poverty, restaurants keep opening up and prospering. Why? Dan Bobkoff reports.Source: Marketplace | 10 Dec 2009 | 11:16 am HousekeepingI'm stepping away from my computer now to work on a little project that will occupy me for the rest of the day. Behave yourselves and I'll see you tomorrow. For the bored/lonely, occupy yourself with these: 
 Source: Dealbreaker | 10 Dec 2009 | 11:15 am Goldman Forgoes BonusesBy Daniel Costello Goldman Sachs Group Inc. unveiled compensation changes Thursday in the wake of pressure from some shareholders of the investment bank. Shareholders will get future advisory votes on pay. The firm's 30-member management committee will receive bonuses in the form of shares that cannot be sold for five years, Goldman Sachs said in a statement. The holding period includes a provision that will permit the firm to recover the shares "in cases where the employee engaged in materially improper risk analysis or failed sufficiently to raise concerns about risks," the company said. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Dec 2009 | 11:07 am Bernie Madoff's Taint Albatross Around Neck Of Former Employees
Mark Madoff, who worked at Bernard L. Madoff Investment Securities LLC for more than 20 years, climbing up the ladder to director of proprietary trading, recently met with at least two Wall Street contacts to get their opinions on whether he could find another job in finance, people familiar with the discussions say. He talked about working on a trading desk or in trading technology, asking one person to keep him in mind if he hears of any openings.
Source: Dealbreaker | 10 Dec 2009 | 10:59 am Geithner defends extension of bank bailoutWASHINGTON -- Treasury Secretary Timothy F. Geithner on Thursday defended his extension of the government's unpopular financial bailout as necessary to safely wind down the program.
Source: L.A. Times - Business | 10 Dec 2009 | 10:45 am U.S. Senator Conrad Says Debt May Rise to 400% of GDP: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 10:34 am Hooper Says U.S. Economy May Add Jobs by February: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 10:32 am Whalen Wants More Non-Economists on Fed Boards: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 10:28 am Buiter Says Tax Doesn't Hit Most Outrageous Bonuses: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 10:27 am Annunziata Says Bonus Taxes Will Cause Job Migration: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 10:25 am Lachlan Murdoch pulls out of Nielsen bidLachlan Murdoch, the eldest son of media mogul Rupert Murdoch, has withdrawn at the last minute from a consortium bidding for the bulk of Nielsen Business MediaSource: Financial Times - US homepage | 10 Dec 2009 | 9:58 am Facebook Implements More Privacy Changes Today
All Facebook users have to change their privacy settings today, via a window that appears when you log in. CNN has the details: Publicly available information now includes your name, profile picture, gender, location, networks, and pages you’re a fan of. Until now, you had the option of restricting much of that information. That option has been removed. Facebook counters that a user’s friends list can be made nonviewable. But it is either viewable by all or by no one. The changes mean that Facebook can sync with real-time search, as well as syndicate with search engines like Google and Bing. Many users want to hide their friends list. In order to do this, Facebook help says to: click the pencil icon in the Friends box on your profile. Then, uncheck the “Show my friends on my profile” box. People who come to your profile will not be able to see this information.
Source: Business Pundit | 10 Dec 2009 | 9:57 am Bonus Watch '09: Goldman Sachs
Source: Dealbreaker | 10 Dec 2009 | 9:53 am AOL Stock (AOL) Starts Trading Today
AOL Inc. started trading as an independent company (ticker symbol: AOL) this morning. The Wall Street Journal reports on the stock’s progress this morning: AOL dropped sharply at the opening bell, bounced back, and then sank again in a disappointing return as an independent Internet company following a now generally considered failed merger with Time Warner Inc. (TWX). AOL was down more than 1% at last check, while shares of Time Warner were up more than 4%. As Minyanville’s Bob Faulkner points out, AOL doesn’t exactly have the kind of cash flow the media claims it does. Still, it’s too early to tell how AOL is going to perform longer term.
Source: Business Pundit | 10 Dec 2009 | 9:30 am The Origins Of Tim Geithner's OrangeTim Geithner is testifying before the the Congressional Oversight Panel this morning, and he's doing so with a look that would be best described as Angelo Mozilo-lite. We need to know more. I leave it to you:
Source: Dealbreaker | 10 Dec 2009 | 8:55 am Schowitz Sees European Stocks Rising 30% on Earnings: AudioSource: Bloomberg - All Podcasts | 10 Dec 2009 | 8:47 am New jobless claims rise more than expectedWASHINGTON -- The number of newly laid-off workers seeking jobless benefits rose more than expected last week, after falling for five straight weeks.
Source: L.A. Times - Business | 10 Dec 2009 | 7:40 am Too Big To Fail: 2010By Daniel Costello The regional banking landscape has trimmed down considerably over the past year as many smaller banks have gone out of business with the help of the Federal Deposit Insurance Corp. Now many analyst are predicting a new wave of regional bank consolidation to help smaller the guys compete with still-huge national giants. Proponents say "super regionals" could be a good thing for regional markets that have long needed more efficiency in their banking sectors. Critics say....well, I'm guessing you know what critics say. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Dec 2009 | 7:36 am Morning Report: Citi Expected To Pay Back TARPBy Daniel Costello Citigroup Inc. plans to raise $20 billion selling new equity. The banking giant will use the money to repay the $45 billion it got from the government's Troubled Asset Relief Program, or TARP, according to reports. Citi was one of the largest recipients of government support in the wake of last year's financial crisis, leaving it 34 percent owned by taxpayers. Bank of America said Wednesday that it repaid the entire $45 billion it got from TARP. As expected, England's central bank left its key lending rate unchanged at a historic low and made no changes to its massive program to purchase government bonds. Earlier Thursday, Switzerland's central bank left its key lending rate unchanged near 0.25 percent amid a continued negative economic outlook, but said it would halt its program of purchasing corporate bonds aimed at keeping interest rates low. And housing foreclosures fell 8 percent in November, marking the fourth straight decline. There were 306,627 filings last month, according to RealtyTrac, an online marketer of foreclosed properties. That decline follows a 3 percent drop in October, 4 percent in September and 1 percent. in August. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 10 Dec 2009 | 7:19 am Dick Bové Doesn't Think Citi Should Repay TARP
Source: Dealbreaker | 10 Dec 2009 | 7:19 am Christmas Efficiency
Can you guess which one of these houses is owned by a Resource Efficiency Manager?
Source: Business Pundit | 10 Dec 2009 | 7:17 am UK Bankers None Too Pleased With So-Called Bonus TaxWhat are they doing about it? Letting people know they will walk, that's what! Those of us in London IB just got shafted by way of a new supertax on banking bonuses, announced yesterday and effective through April 5 2010 (just to nail this bonus cycle). Banks (including UK subs of internationals) will pay a 50% tax on the bonus pool *before* the bonus is even paid out; individuals are then subject to the normal 41% or 51% tax (depending on tax bracket). So effectively we'll receive 25% of our pool. It's intended as a bonus payment deterrent rather than a revenue generator, and is just Labour pandering to voters ahead of the election. Unfortunately, nobody wanted to stand up and defend bankers' bonuses, so it's gone through.
Source: Dealbreaker | 10 Dec 2009 | 7:06 am Andrew Ross Sorkin Demands Accountability From Wall Street, Shares Tips For Looking Young
Source: Dealbreaker | 10 Dec 2009 | 6:15 am Presented By:Source: Dealbreaker | 10 Dec 2009 | 5:50 am Opening Bell: 12.10.09Galleon Asia Employees Said to Hold Discussions With Fortress (Bloomberg) Governor Paterson Goes To Wall Street With Words Of Thanks (NYT) AIG Units Omit Name And They Excel (NYT) Barclays Denis 'Secret' Gains In Lehman Deal (Reuters) Ex-Bear fund chiefs face SEC civil case (FT) Jeff Immelt: Era Of Meanness, Greed Drawing to End (Reuters)
Source: Dealbreaker | 10 Dec 2009 | 5:50 am Sad But True
Source: Business Pundit | 10 Dec 2009 | 4:03 am
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