World Business News Headlines for December 21, 2009

OPEC sec-gen: Consensus is not to change output (AP)

AP - OPEC's secretary general says there is a consensus among members of the oil-producing bloc not to adjust its production targets when it meets Tuesday.

Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 3:33 am

Eurostar begins breakdown inquiry

Eurostar begins a review into train problems, with services halted for a third day as more snow is forecast in France.
Source: BBC News | Business | World Edition | 21 Dec 2009 | 3:33 am

Ten Stocks To Sell In The Ten Days Before Year-End

Many investors use the last few weeks of each year to sell stocks on which they have posted losses to help their tax position. Other investors simply clean the dead wood out of their portfolios in the hope of starting the new year with stocks that they believe will do well in 2010. This is a [...]

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Source: 24/7 Wall St. | 21 Dec 2009 | 3:33 am

China targeting 8% growth in 2010

China says it is targeting economic growth of 8% next year, despite the ongoing effects of the global downturn.
Source: BBC News | Business | World Edition | 21 Dec 2009 | 3:17 am

European stocks see muted gains as dollar stabilises

Global Markets Overview: After a mixed showing in Asian equities markets on Monday, Europe’s indices started the week with modest gains, helped by signs of a weakening dollar
Source: Financial Times - US homepage | 21 Dec 2009 | 3:10 am

E-Commerce Posts Record Day Over $900 Million

The e-commerce industry posted its first $900 million day, ever. Online research firm comScore reports that on December 15, e-commerce sales hit $913 million. The surge held put holiday online sales up 4% to almost $24.8 million through the week ending December 18. So far this year, the spending on nine days has risen above $800 million. E-commerce [...]

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Source: 24/7 Wall St. | 21 Dec 2009 | 3:06 am

Safran, GE to provide engines for Chinese jet

French aerospace group and U.S. conglomerate say they have won a multi-billion contract to provide the engines to China’s future C919 aircraft.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 3:05 am

Stock futures signal gains; eyes on pharmas

(Reuters) - Stock index futures pointed to a slightly higher opening on Wall Street on Monday, with futures for the S&P 500 up 0.13 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.07 percent at 0845 GMT (3:45 a.m. EST).

Source: Reuters: Business News | 21 Dec 2009 | 3:03 am

FTSE 100 opens higher (AFP)

AFP - London's leading stock market climbed at the start of trading on Monday after Tokyo closed at its highest level for almost eight weeks.

Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 3:03 am

Sands can complete Macau casinos in 5 years

SINGAPORE/HONG KONG (Reuters) - Las Vegas Sands, the world's No. 2 casino operator by market value, could completed all its planned developments on Macau's Cotai strip in five years, sooner than expected, hugely expanding its presence in the world's biggest gambling market.

Source: Reuters: Business News | 21 Dec 2009 | 3:01 am

Oil prices mixed before OPEC meet

Oil prices traded mixed on Monday as OPEC's crude-producing nations signalled that they would decide against making changes to output levels at an upcoming meeting. New York's main...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 2:58 am

Verizon Wireless To Set $350 Fee To Break Cellular Contracts

Cellular service users have been upset for years that the companies that give them their wireless connections often charge large fees if they break their contracts. Verizon Wireless (NYSE:VZ)(NYSE:VOD) has decided to charge a huge $350 penalty to some of its customers who walk away from their agreements. The FCC is in the midst of an investigation about cellular break-up [...]

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Source: 24/7 Wall St. | 21 Dec 2009 | 2:56 am

Dubai World to meet creditors, offer no proposal

DUBAI (Reuters) - Dubai World will not make any concrete proposals to delay $22 billion in debt when it meets creditors on Monday, a move that is likely to dismay investors who have been left in the dark for weeks.

Source: Reuters: Business News | 21 Dec 2009 | 2:53 am

Dubai World to meet creditors, offer no proposal

Gulf markets fall ahead of Dubai creditor talks

Markets opened down across the Middle East this morning amid continued nervousness among investors over whether Dubai World will secure a standstill on its debt repayments.

Source: Latest Business News from Times Online | 21 Dec 2009 | 2:43 am

FTSE 100 edges higher

London's leading shares ended two sessions of falls to edge higher on Monday, helped by raised forecasts for growth next year from the CBI.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 2:41 am

Dubai World to make no precise debt proposal: source

DUBAI (Reuters) - Dubai World will not make any specific proposals on a debt standstill at Monday's meeting with creditors, a source close to Dubai World told Reuters.
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 2:40 am

Hong Kong shares slip as oil shares lift Japan

Asian markets finish Monday on a mixed note, with major indexes posting modest moves in pre-holiday trade, as concern about further property-market-cooling measures weighed on Hong Kong but strength in oil shares supported the Japanese market.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 2:37 am

'Fragile' UK recovery predicted

Growth in the UK economy is set to pick up gradually next year but the economic recovery will be "fragile", the CBI says.
Source: BBC News | Business | World Edition | 21 Dec 2009 | 2:35 am

LSE takes majority control of rival Turquoise

Deal will give the U.K.'s LSE a foothold in other European markets.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 2:24 am

London Markets: Cairn leads London on Greenland exploration plan

Cairn Energy leads a quiet but stronger U.K. market on Monday after announcing plans to drill offshore Western Greenland earlier than it initially planned.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 2:22 am

Japan's economy rides coattails of China

Japan's exports fell at the slowest pace in more than a year in November as the world's second-largest economy benefited from a recovery in Asian powerhouse China, data showed Monday. ...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 2:19 am

Asian stocks mixed in sluggish trade; Europe rises (AP)

AP - Asian stocks were mixed Monday in dwindling year-end trade, with Japan's market rising modestly amid hopes a pickup in regional trade could help the world's second-biggest economy avoid another recession. European shares were higher.

Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 2:18 am

Asian stocks mixed in sluggish trade; Europe rises

Asian stocks were mixed Monday in dwindling year-end trade, with Japan's market rising modestly amid hopes a pickup in regional trade could help the world's second-biggest economy avoid...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 2:18 am

UPDATE 1-UCB says Crohn's study fails to prove drug

BRUSSELS, Dec 21 (Reuters) - Belgian pharmaceutical group UCB said on Monday a test of a drug to treat Crohn's disease did not achieve the required results, casting doubt on its chances of approval in...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 2:16 am

Bank sector shares lift FTSE 100

A surge in banking stocks fuelled a climb in London's leading share index today.

Source: Latest Business News from Times Online | 21 Dec 2009 | 2:12 am

Stock futures signal gains; eyes on pharmas

(Reuters) - Stock index futures pointed to a slightly higher opening on Wall Street on Monday, with futures for the S&P 500 up 0.13 percent, Dow Jones futures up 0.1 percent and Nasdaq...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 2:06 am

Stock futures signal gains; eyes on pharmas (Reuters)

Reuters - Stock index futures pointed to a slightly higher opening on Wall Street on Monday, with futures for the S&P 500 up 0.13 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.07 percent at 0845 GMT (3:45 a.m. EST).

Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 2:06 am

Stock futures signal gains; eyes on pharmas (Reuters)

Source: Yahoo! News: Business | 21 Dec 2009 | 2:06 am

Europe Markets: Europe stocks rise; Actelion, Eurotunnel in view

Europe stocks registered gains in early action Monday, with news on sleeping drugs appropriately capturing attention as volumes wind down ahead of the holiday.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 2:00 am

Media Digest 12/21/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters: The healthcare bill moved over key hurdles in the Senate. Reuters: Oil is above $73 on Iran-Iraq tensions. Reuters: Citadel filed for Chapter 11. Reuters: The head of AIG (NYSE:AIG) said his company would get aggressive about repaying the US government. Reuters: OPEC will keep prices of oil firm as they remain high. WSJ: The last decade was the worst [...]

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Source: 24/7 Wall St. | 21 Dec 2009 | 1:55 am

Shares of Spyker soar after new offer for Saab

Dutch car maker says it has submitted a new offer for Saab, the Swedish unit of General Motors.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 1:55 am

National Express school buses remain stalled

National Express, the bus and train operator, told its buffeted investors that it remained on track to meet profit forecasts which were cut after an October warning over rising debt charges and problems at its US school bus business.

Source: Latest Business News from Times Online | 21 Dec 2009 | 1:45 am

UPDATE 1-Hunting sees 2009 trading towards high end of mkt view

* Says natural gas exploration in Canada, US still depressed
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 1:43 am

Berlin to roll out major austerity plan next year

The German government will unveil a major savings plan by mid-2010 to put the country back on the road to fiscal health, Finance Minister Wolfgang Schaeuble said in an interview published...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 1:40 am

UPDATE 2-Safety worries hit Actelion's key sleep drug

ZURICH, Dec 21 (Reuters) - Europe's biggest biotech company Actelion's almorexant insomnia drug had unspecified safety problems in a late-stage trial, even though it met its main target, it said on Monday,...
Source: RSS feed - channel BNewsBusiness | 21 Dec 2009 | 1:34 am

Shell has not told Nigeria of plans to sell oil fields, says minister

Royal Dutch Shell has not informed the government of any plans to sell oil fields in Nigeria, the oil minister said.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 1:28 am

Dubai World in creditor meeting

Dubai World is meeting creditors, including executives from HSBC and Royal Bank of Scotland, to discuss its debt repayment plan.
Source: BBC News | Business | World Edition | 21 Dec 2009 | 1:27 am

Asia Markets And Europe Open (12/21/2009)

Markets in Asia were mixed. The Nikkei rose .4% to 10,183. Sony (NYSE:SNE) and Mitsubish UFJ (NYSE:MTU) rose. The Hang Seng was off 1% to 20,697. HSBC (HNYSE:HBC) dropped. The Shanghai Composte was .3% to 3,123. At the open in Europe, the FTSE wsa up .5% to 5,222. The Dax was higher by .7% to 5,873. The CAC 40 [...]

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Source: 24/7 Wall St. | 21 Dec 2009 | 1:23 am

European stocks see muted gains as dollar stabilises

08:15 GMT. European bourses opened higher on Monday after the dollar showed signs of weakness and Asian markets put in a mixed performance.Those traders from Frankfurt to London able to overcome the weather...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:15 am

ETF Investing: Bond ETFs navigate the Treasury yield curve

Exchange-traded funds can be used for complex trades, and one strategy garnering attention taps fixed-income ETFs to take advantage of a steepening or flattening U.S. Treasury yield curve.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 1:04 am

Retailers see online holiday sales climb

Shoppers spent 13% more from Nov. 1 to Dec. 12 than in the same period last year, a report says. Online retail...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:00 am

Theater chain puts a luxe twist on dinner and a movie

Gold Class Cinemas replaces vats of popcorn and sticky floors with ginger calamari, personal service and a price tag to match.

As they relaxed in the dimly lighted lounge, awaiting the sold-out screening of "Invictus," Stephen Galloway and his wife, Tina, were perusing the menu between sips of champagne. A waiter had just brought a chilled $49 bottle of Schramsberg sparkling wine and was ready for their order.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

Retailers see online holiday sales climb

Shoppers spent 13% more from Nov. 1 to Dec. 12 than in the same period last year, a report says.

Online retail sales are up this holiday shopping season, along with overall sales of men's apparel, shoes and electronics, according to SpendingPulse, a service of MasterCard Advisors.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

Radio giant Citadel files for bankruptcy protection

The owner of 224 stations, including KABC-AM (790) in Los Angeles, aims to restructure its debt load amid an ad slump. ...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:00 am

'Avatar' rockets to solid opening

James Cameron's 3-D epic rakes in an estimated $232 million worldwide, despite snow on the East Coast that held its North American box-office sales to $73 million.

Snow on the East Coast put a dent in the domestic opening of "Avatar" but wasn't enough to keep the hugely expensive movie from the global launch it needed.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

Landlords' pullback puts L.A. Toy District at risk

This being the yuletide season, I made my way to the downtown Los Angeles Toy District the other day, because nothing says "Christmas" to me so much as stepping over piles of garbage to cross the street and shouldering my way past overflowing dumpsters in busy alleys.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

For Wall Street, will there be a Santa Claus rally or a lump of coal?

The late December lift in the stock markets is no myth, but if it's a no-show, it could be a sign of trouble ahead. ...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:00 am

CalPERS probing investment advisor's ties to middleman

Documents show Alfred J.R. Villalobos was helping private equity firms win deals with the California pension fund while also working for a firm hired by CalPERS to give it investment advice.

A Nevada businessman was paid $17 million by two private equity firms to help them win business from California's giant pension fund at the same time he was working for a La Jolla company that was advising the fund on those investments.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

Theater chain puts a luxe twist on dinner and a movie

Gold Class Cinemas replaces vats of popcorn and sticky floors with ginger calamari, personal service and a price tag to match. ...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:00 am

Radio giant Citadel files for bankruptcy protection

The owner of 224 stations, including KABC-AM (790) in Los Angeles, aims to restructure its debt load amid an ad slump.

Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection Sunday in an effort to restructure its hefty debt load as it continues to face declining advertising revenue.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

'Avatar' rockets to solid opening

James Cameron's 3-D epic rakes in an estimated $232 million worldwide, despite snow on the East Coast that held its North American box-office sales to $73 million. ...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:00 am

For Wall Street, will there be a Santa Claus rally or a lump of coal?

The late December lift in the stock markets is no myth, but if it's a no-show, it could be a sign of trouble ahead.

Skeptical children can doubt whether Santa Claus exists. But for stock-market statisticians, there's not much debate: The year-end lift known as the Santa Claus rally is no myth.

Source: L.A. Times - Business | 21 Dec 2009 | 1:00 am

Landlords' pullback puts L.A. Toy District at risk

This being the yuletide season, I made my way to the downtown Los Angeles Toy District the other day, because nothing says "Christmas" to me so much as stepping over piles of garbage to cross the street...
Source: RSS feed - channel BNPaperBusiness | 21 Dec 2009 | 1:00 am

LSE takes 60 percent stake in Turquoise platform

LONDON (Reuters) - London Stock Exchange has agreed a deal to take a 60 percent stake in loss-making trading platform rival Turquoise and will merge it with its own "dark pool" platform, Baikal, to create a new pan-Europe venture.

Source: Reuters: Business News | 21 Dec 2009 | 12:59 am

LSE reveals takeover of Turquoise

The London Stock Exchange announces a deal to take over loss-making trading platform Turquoise.
Source: BBC News | Business | World Edition | 21 Dec 2009 | 12:57 am

London Stock Exchange seals Turquoise deal

London Stock Exchange takes control of Turquoise, the loss-making trading platform set up by the world's leading investment banks.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 12:57 am

Fidelity star goes contrarian

Sanjeev Shah has taken a big stake in Yellow Pages publisher Yell.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 12:52 am

National Express revenues stabilise

Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 12:50 am

Asian demand for Japanese goods recovers

Japanese exports in November fell at the slowest pace in 15 months on strong Asian demand, easing concern about the strength of the country’s economic recovery
Source: Financial Times - US homepage | 21 Dec 2009 | 12:50 am

Democrats eye Christmas healthcare deadline

Barack Obama’s administration is moving closer to passing sweeping healthcare reforms after frenzied haggling gave Senate Democrats the votes they need to extend coverage to 31m uninsured Americans
Source: Financial Times - US homepage | 21 Dec 2009 | 12:47 am

LSE agrees joint venture with Turquoise

The London Stock Exchange (LSE) today sealed a deal to acquire Turquoise, the one year-old pan-European trading platform set up by nine investment banks to force London's main stock exchange to cut its fees.

Source: Latest Business News from Times Online | 21 Dec 2009 | 12:46 am

Japan's decline in exports slows

Japan's exports in November were down 6.2% from a year ago, the smallest decline in exports for 14 months.
Source: BBC News | Business | World Edition | 21 Dec 2009 | 12:40 am

Currencies: Dollar edges down vs. rivals in Asian trading

The dollar edges down against major counterparts in Asian trading Monday, as the Japanese currency got an updraft from government trade data.

Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 12:39 am

NZ currency: Dollar largely unchanged

The New Zealand dollar was little changed today ahead of the release of key economic data this week prior to the Christmas holiday break.The NZ dollar was US71.04c at 5pm from US71.16c on Friday, having dropped to a week-low against...
Source: nzherald.co.nz - Business | 21 Dec 2009 | 12:27 am

NZ stocks: Big volume traded

Hanover Group investors started selling their Allied Farmers shares in numbers today and nine climate change protesters were arrested outside the NZX building in Wellington.All in all there was a bit more activity that might usually...
Source: nzherald.co.nz - Business | 21 Dec 2009 | 12:25 am

Qantas expects to be back in profit as travellers return

Qantas, the Australian airline Qantas, said on Monday that passenger numbers were picking up after plummeting during the economic downturn, helping to reverse a profit slump this year.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 12:19 am

Japan logs trade surplus as export fall at slowest pace in 14 months

Japan logged a trade surplus for a 10th straight month in November as exports fell at the slowest pace in more than a year, supported by recovering demand from Asia, government data showed on Monday.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Dec 2009 | 11:50 pm

GM considers next move for Saab

General Motors says it is "evaluating" inquiries from several parties into its Swedish car business Saab.
Source: BBC News | Business | World Edition | 20 Dec 2009 | 11:50 pm

Safran, GE win multibillion dollar China plane deal

BEIJING (Reuters) - French aerospace group Safran and U.S. conglomerate General Electric have won a multibillion dollar deal to provide the motor for China's new C919 plane, Safran said on Monday.

Source: Reuters: Business News | 20 Dec 2009 | 11:31 pm

For stocks Santa's bag may be light

NEW YORK (Reuters) - Santa came early for Wall Street this year by giving the S&P 500 a 22 percent gain for 2009, and with just eight trading days left in the year, stock investors are not expecting to find much more under the tree.

Source: Reuters: Business News | 20 Dec 2009 | 11:06 pm

CalPERS probing investment advisor's ties to middleman

Jon Friedman's Media Web: Who's hot and who's not in 2010

As much as journalists love to present end-of-the-year lists, we enjoy doing one thing even more: making predictions.

Source: MarketWatch.com - Top Stories | 20 Dec 2009 | 10:21 pm

China wealth fund reportedly to get more capital

Chinese sovereign wealth fund CIC is reportedly set to receive another injection of capital from the country’s foreign-exchange reserves in the coming months.

Source: MarketWatch.com - Top Stories | 20 Dec 2009 | 10:05 pm

12 Picks: SmartMoney's Investor Roundtable

These veteran money managers still see buys -- in some unexpected places.

Source: SmartMoney.com | 20 Dec 2009 | 10:00 pm

Happier Holiday Tidings Than Last Year (Pundit Watch)

The gift of a full recovery isn't under the tree but could be ready to unwrap in 2010.

Source: SmartMoney.com | 20 Dec 2009 | 10:00 pm

Flying Home for the Holidays (Deal of the Day)

Looking to fill up flights, airlines drop some last-minute fares.

Source: SmartMoney.com | 20 Dec 2009 | 10:00 pm

Bucyrus to buy Terex mining unit for $1.3 billion

NEW YORK (Reuters) - Terex Corp , the world's No. 3 maker of heavy earth-moving equipment, is to sell its mining business for $1.3 billion cash to mining equipment maker Bucyrus International Inc , the companies said on Sunday.

Source: Reuters: Business News | 20 Dec 2009 | 9:40 pm

Bucyrus to buy Terex mining unit for $1.3 billion (Reuters)

Reuters - Terex Corp , the world's No. 3 maker of heavy earth-moving equipment, is to sell its mining business for $1.3 billion cash to mining equipment maker Bucyrus International Inc , the companies said on Sunday.
Source: Yahoo! News: Business | 20 Dec 2009 | 9:40 pm

Citadel Broadcasting files bankruptcy protection (Reuters)

Reuters - Citadel Broadcasting Corp , the third-largest U.S. radio broadcaster, said on Sunday it filed for the bankruptcy protection, as the radio industry continues to be hard hit by depressed advertising revenue.
Source: Yahoo! News: Business | 20 Dec 2009 | 8:06 pm

Citadel Broadcasting files bankruptcy protection

NEW YORK (Reuters) - Citadel Broadcasting Corp, the third-largest U.S. radio broadcaster, said on Sunday it filed for the bankruptcy protection, as the radio industry continues to be hard hit by depressed advertising revenue.

Source: Reuters: Business News | 20 Dec 2009 | 8:06 pm

AIG Chief tackles government repayment head-on

LONDON (Reuters) - Bailed-out U.S. insurer American International Group will take at least two years to repay its debt, but is benefiting from an aggressive management style, said Chief Executive Officer Robert Benmosche in an FT interview.

Source: Reuters: Business News | 20 Dec 2009 | 7:55 pm

Biggest influx of migrants since 2004

New Zealand's population is set to swell by 20,000 for this year - the biggest jump in migrants since 2004.The country has gained more than net 20,000 permanent and long term (PLT) migrants during 2009 after a net 2,501 PLT migrants...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 7:00 pm

Christmas pressure on EFTPOS system

Retailers should dust off their zip-zap machines and stock up on manual credit card chits just in case the EFTPOS system collapses when it's needed most, a business association chief warned today."All indicators are pointing to...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 6:45 pm

Crafar pleads guilty over effluent

A dairying company owned by the Crafar family today pleaded guilty to four charges of unlawfully discharging effluent to land and breach of an abatement notice.Crafar Farms, the nation's biggest family-owned group of dairy farms,...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 6:00 pm

Allied Farmers shares fall 31pc

Allied Farmers shares have fallen 31 per cent after the company issued shares to former Hanover investors this morning.Last week, Hanover and United Finance investors narrowly voted to accept Allied Farmers' swap of Hanover's...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 5:52 pm

How a voice for everyone led to stalemate and a lot more hot air

The Copenhagen accord reads like the opening statement of a climate change summit, not its outcome. It sets reasonable objectives — such as the need to keep the temperature increase below 2C — but fails to explain how it will achieve them.
Source: Latest Business News from Times Online | 20 Dec 2009 | 5:01 pm

Thousands face tunnel chaos as bad weather halts Eurostar

The Christmas travel plans of more than 100,000 people are in disarray after Eurostar cancelled services again today and admitted that it did not know when trains would start running again.
Source: Latest Business News from Times Online | 20 Dec 2009 | 5:01 pm

Chinese in £3bn battle to buy Shell assets in Nigeria

Two Chinese government-controlled companies are among front-runners in a £3 billion battle for control of oil assets in Nigeria that have been put up for sale by Royal Dutch Shell.

Source: Latest Business News from Times Online | 20 Dec 2009 | 5:01 pm

Scion of illustrious gambling family fancies the odds on Macau

Shielding his eyes from the midday glare, Lawrence Ho carefully removes his shoes and socks. Hitching suit trousers higher and leaving his two granite-faced bodyguards, the young tycoon steps out on to the beach. Bare feet crunch in the white sand as he makes for a deckchair.
Source: Latest Business News from Times Online | 20 Dec 2009 | 5:01 pm

BP to appeal against $100m damages order after Texas refinery incident$

BP, which has been ordered by a court in Texas to pay $100 million ($£62 million) damages to ten workers after an incident at its refinery in the state, said yesterday that it would appeal against the ruling.

Source: Latest Business News from Times Online | 20 Dec 2009 | 5:01 pm

Anger at tax relief cut for climate change levy

Alistair Darling will come under increasing pressure from British industry this week to reverse what has been described as a secret tax rise on climate change initiatives.

Source: Latest Business News from Times Online | 20 Dec 2009 | 5:01 pm

Tourist numbers edge up

The number of visitors arriving from overseas edged up just 600 to 219,900 in November compared to a year earlier.Last month's total was 10,000 fewer than the high for a November month, recorded in 2006, Statistics New Zealand...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 5:00 pm

Chinese fund to receive new capital

China Investment Corp, the sovereign wealth fund, would likely receive in the coming months a similar amount to the initial $200bn it was given on its establishment in 2007
Source: Financial Times - US homepage | 20 Dec 2009 | 4:53 pm

Sales of dollar junk bonds hit record

Sales of dollar junk bonds have hit all-time high levels in 2009, as issuers rush to tap strong global investor demand after a year in which the asset class has produced record returns. Total issuance...
Source: RSS feed - channel BNPaperBusiness | 20 Dec 2009 | 4:42 pm

Oil demand recovery to be sluggish

Oil prices will remain trapped in the $70-$80 a barrel range in the first half of next year as demand recovers more slowly than expected, according to the world’s top oil trading houses
Source: Financial Times - US homepage | 20 Dec 2009 | 4:07 pm

Oil demand recovery to be sluggish

Oil prices will remain trapped in the $70-$80 a barrel range in the first half of 2010 as demand recovers more slowly than expected, according to the world's top oil trading houses.The view of traders...
Source: RSS feed - channel BNPaperBusiness | 20 Dec 2009 | 4:07 pm

Wall Street bracing for a volatile week

Wall Street is in for a quiet three and a half days of trading this week with many market participants on vacation and traders mostly focused on defending this year's gains.
Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 4:03 pm

Comvita reaches Medihoney deal

Natural healthcare company Comvita has completed a heads of agreement for a $6 million deal with Derma Sciences covering the worldwide licensing rights for Medihoney professional woundcare and skincare products.The agreement is...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 4:00 pm

Sharemarket slips early

The New Zealand sharemarket slipped when trading opened for the week, with leading share Telecom down 3c to $2.46 early after rising 9c on Friday.Contact Energy, which ended Friday up 19c added another 2c to $5.98 in early trading...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 3:55 pm

US retailers hope for last-minute gift buying

With only a few shopping days left before Christmas, the holiday shopping season is shaping up to be in line with most retailers’ conservative forecasts
Source: Financial Times - US homepage | 20 Dec 2009 | 3:46 pm

Airbus fears delay to Boeing report

European aircraft maker fears a six-month delay in a report on alleged subsidies to Boeing, its US rival, could harm chances of winning a multi-billion-dollar Pentagon contract
Source: Financial Times - US homepage | 20 Dec 2009 | 3:25 pm

UK recession to be declared over - but recovery remains distant

Economists expect the recession to be over this week with revised growth figures showing the economy all but stabilised in the third quarter.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Dec 2009 | 3:15 pm

FSA fines double to record £35m in 2009

The financial regulator has meted out a record £34.8m in fines this year, up more than 50pc on the sum it levied last year.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Dec 2009 | 3:08 pm

Market awaits next move in AXA battle

With National Australia Bank (NAB) now in the box seat to acquire the assets of AXA Asia Pacific, ANZ is keeping tight-lipped on whether it will make a tilt for a wealth management business.Chief executive Mike Smith says ANZ's...
Source: nzherald.co.nz - Business | 20 Dec 2009 | 3:00 pm

Business chiefs hit at climate agreement

Global energy businesses have been left disappointed and confused by the climate deal agreed in Copenhagen, saying it does not provide enough certainty to justify the huge investments needed to cut greenhouse gas emissions
Source: Financial Times - US homepage | 20 Dec 2009 | 2:39 pm

Mercer facing $2.8 billion lawsuit in Alaska: report

NEW YORK (Reuters) - Mercer is facing a $2.8 billion lawsuit by the Alaska Retirement Management Board that alleges the human resources consulting firm made a number of errors in its work as the state's actuarial consultant, according to a New York Times column published on Sunday.

Source: Reuters: Business News | 20 Dec 2009 | 2:38 pm

Mercer facing $2.8 billion lawsuit in Alaska: report (Reuters)

Reuters - Mercer is facing a $2.8 billion lawsuit by the Alaska Retirement Management Board that alleges the human resources consulting firm made a number of errors in its work as the state's actuarial consultant, according to a New York Times column published on Sunday.
Source: Yahoo! News: Business | 20 Dec 2009 | 2:34 pm

UK property black hole threatens banks' lending

Britain is at risk of a mass sell-off of distressed commercial properties that impair lending, warns Bank of England.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 20 Dec 2009 | 2:17 pm

The Unusual Suspects (BMY, CNO, HMIN, JBL, OSIP, RHT, GLD, SQNM, V, WAG)

This might have seemed a tough week to come up with a list of unusual suspects. There are only a handful of earnings, but there are many follow-on items from last week or that are still developing. While the volume will really start to peter-out by Wednesday afternoon, there is no shortage of expected events [...]

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Source: 24/7 Wall St. | 20 Dec 2009 | 1:22 pm

3 bullets and a MacBook

Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 1:09 pm

Saab may get a second life

Don't close the coffin on Saab just yet.
Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 1:08 pm

Citadel Broadcasting files for bankruptcy

Citadel Broadcasting Co., the third-largest radio group in the United States, filed for Chapter 11 bankruptcy Sunday.
Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 12:55 pm

Santa Claus rally could still show up this year (AP)

AP - Skeptical kids can doubt whether Santa Claus exists. But for stock-market statisticians, there's not much debate: The year-end lift known as the Santa Claus rally is no myth.

Source: Yahoo! News: Stock Markets News | 20 Dec 2009 | 12:03 pm

Afghans sceptical of Karzai’s new cabinet

Afghans greeted a new cabinet nominated by President Hamid Karzai with a heavy dose of scepticism, revealing their disconnect with western powers that were relieved to see the most credible ministers retain their posts
Source: Financial Times - US homepage | 20 Dec 2009 | 11:27 am

For stocks Santa's bag may be light (Reuters)

Reuters - Santa came early for Wall Street this year by giving the S&P 500 a 22 percent gain for 2009, and with just eight trading days left in the year, stock investors are not expecting to find much more under the tree.

Source: Yahoo! News: Stock Markets News | 20 Dec 2009 | 11:16 am

For stocks Santa's bag may be light (Reuters)

Source: Yahoo! News: Business | 20 Dec 2009 | 11:16 am

Spyker in new offer for carmaker Saab

There was another twist in the saga of Saab Automobile when Spyker Cars made a fresh offer to buy the company two days after General Motors said it planned to wind down its ailing Swedish unit
Source: Financial Times - US homepage | 20 Dec 2009 | 10:59 am

Tunisian dates

The popular Christmas snack is boosting growth
Source: BBC News | Business | World Edition | 20 Dec 2009 | 9:41 am

8 brands we loved ... and lost in 2009

Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 9:12 am

AT&T survives DNS attack

Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 8:16 am

Extreme modifications: 2% mortgages

At 8 a.m., homeowner Rodney Wynn was drowning under his $1,800-per-month, 13.4% interest rate mortgage. But by 5 p.m., he had found some relief: a 4.7% loan with a $970 monthly payment.
Source: Business and financial news - CNNMoney.com | 20 Dec 2009 | 6:58 am

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