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The First Quarter Should See A Surge In Consumer SpendingConsumer confidence and spending will rise very sharply over the next three months based on new data from research firm ChangeWave. The firm’s December survey of 2,690 people indicates that 35% of them will spend more over the next 90 days than they did in the same period a year ago. This number is up [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Dec 2009 | 3:39 am The Problem With Late Research, Or No Research At AllComscore, which measures online consumer behavior, is among the best in its class at the analysis of traffic to websites. Comscore also decodes what people do when they get to their online destinations. The value of the data is fleeting, though. The internet is forever changing as the habits of people and businesses using the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Dec 2009 | 3:27 am JAL shares retest record low on bankruptcy worriesTOKYO (Reuters) - Shares of Japan Airlines Corp fell as much as 11 percent and revisited a record low on Tuesday as investor worries mounted the carrier will be restructured in bankruptcy court.Source: Reuters: Business News | 29 Dec 2009 | 3:16 am JAL shares retest record low on bankruptcy worries (Reuters)
Source: Yahoo! News: Business | 29 Dec 2009 | 3:16 am Employers see uptick in hiring in 2010NEW YORK (Reuters) - U.S. employers expect to hire more new workers in 2010 than they did in 2009, a sign the U.S. recession may be easing its grip, research showed on Tuesday.Source: Reuters: Business News | 29 Dec 2009 | 3:14 am A New Threat To Cell Phone Security From An Old Source—The HackerNothing stays safe forever, at least not in the world of information technology and digital communication. Hackers are able to break into sophisticated bank security systems and steal money. Talented coders recently shut down services like Twitter and hackers from North Korea menaced some US government websites. Sometimes hackers work just for fun but many do [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Dec 2009 | 3:13 am Google is sued by Chinese authorA Beijing judge tells the Chinese novelist Mian Mian, who is suing Google over its plan to create an online library, to hold settlement talks.Source: BBC News | Business | World Edition | 29 Dec 2009 | 3:10 am London stocks at pre-Lehman collapse highLondon stocks pushed higher on Tuesday, the first day back from the Christmas break, following the lead set in global equity markets in the previous session.With US stocks hitting fresh year highs overnight,...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 3:10 am Australia outperforms as Asia markets finish mixedAustralia markets close at their highest level in more than two months supported by gains in agrichemical firm Nufarm on news of a strategic investment from Japan’s Sumitomo Chemical.
Source: MarketWatch.com - Top Stories | 29 Dec 2009 | 2:48 am London Markets: Miners, Smiths lead London higher after breakTraders push up equities in the U.K in light conditions following a four-day break.
Source: MarketWatch.com - Top Stories | 29 Dec 2009 | 2:45 am Morgan Stanley to overhaul pay for top execs: reportNEW YORK (Reuters) - Morgan Stanley plans to overhaul pay plans for its top executives, deferring more of their compensation over time and benchmarking pay against rival firms, the Wall Street Journal reported Monday, citing people familiar with the matter.Source: Reuters: Business News | 29 Dec 2009 | 2:44 am The Manager of the Larnaca Marina in Cyprus, Had Expressed His Personal Intentions to Promote the Installation of Renewable Energy Systems in the MarinaSource: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 2:29 am FTSE 100 above Lehman collapse levelsLondon's blue chip index rises for a fifth day, back to its level before Lehman Brothers' filed the world's biggest bankruptcy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Dec 2009 | 2:28 am Stock futures point to extended Xmas rally (Reuters)
Source: Yahoo! News: Stock Markets News | 29 Dec 2009 | 2:25 am Stock futures point to extended Xmas rally(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.1 percent and Nasdaq 100...Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 2:25 am Stock futures point to extended Xmas rally (Reuters)
Source: Yahoo! News: Business | 29 Dec 2009 | 2:25 am Stock futures point to extended Xmas rally(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.15 percent at 4.10 a.m. ET.Source: Reuters: Business News | 29 Dec 2009 | 2:25 am Short Sellers Mob Big Banks And Telecoms (BAC)(C)(VZ)(T)Short sellers took huge positions in major banks and telecom companies in the two week period ending December 15. The short interest in Citigroup (NYSE:C) rose 30% to 281 million ahead of the bank closing its fourth quarter books. Investors also expect an earnings stumble at Bank of America (NYSE:BAC), perhaps because of its credit card [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Dec 2009 | 2:22 am Microsoft pegs China search market as top prioritySHANGHAI (Reuters) - China is a vital market for Microsoft's Web search business, as it chases leaders Baidu Inc and Google in the world's biggest Internet market, the world's largest software maker said.Source: Reuters: Business News | 29 Dec 2009 | 2:22 am Nikkei ekes out four-month closing highTOKYO - Japan's Nikkei average eked out a four-month closing high on Tuesday, buoyed by trading groups such as Mitsui & Co after gains in oil and metals prices, while automakers also edged up.Japan...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 2:20 am Cintra agrees Chile stake sale for 209 mln eurMADRID, Dec 29 (Reuters) - Spanish toll road firm Cintra has agreed to sell 60 percent of its stake in Cintra Chile to the Colombian ISA Group for 209 million euros ($300.7 million), its parent Ferrovial...Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 2:15 am Microsoft pegs China search market as top prioritySHANGHAI (Reuters) - China is a vital market for Microsoft's Web search business, as it chases leaders Baidu Inc and Google in the world's biggest Internet market, the world's largest...Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 2:01 am Media Digest 12/26/2009 Reuters, WSJ, NYTime, FT, BloombergReuters: GM is offering huge incentives to sell its inventory of Pontiacs and Saturns. Reuters: Morgan Stanley (NYSE:MS) will overhaul the pay of senior management. Reuters: The departing AIG (NYSE:AIG) general counsel will get millions in severance. Reuters: JAL shares fell on bankruptcy concerns. WSJ: The new head of Bank of America (NYSE:BAC) is faced with fixing the firm’s troubled [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Dec 2009 | 2:00 am Ex-Samsung chairman pardonedSouth Korea decided to grant a special pardon to former Samsung chairman, Lee Kun-hee, who was convicted of tax evasion and breach of trust, to boost the country’s chances to host the 2018 Winter OlympicsSource: Financial Times - US homepage | 29 Dec 2009 | 2:00 am CNR in muted Shanghai debutCNR, one of China's biggest initial public offerings of 2009, on Tuesday made the worst first-day performance by a newly listed company in Shanghai this year as investors showed signs of caution following...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:56 am Microsoft pegs China search market as top prioritySHANGHAI, Dec 29 (Reuters) - China is a vital market for Microsoft's Web search business, as it chases leaders Baidu Inc and Google in the world's biggest Internet market, the world's largest software...Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 1:55 am China executes Briton for drug smugglingUK Prime Minister Gordon Brown immediately condemned the move. London had pleaded that Akmal Shaikh was mentally ill and unfit to stand trialSource: Financial Times - US homepage | 29 Dec 2009 | 1:53 am London stocks firm at open (AFP)
Source: Yahoo! News: Stock Markets News | 29 Dec 2009 | 1:50 am Europe Markets: Europe stocks climb as year-end push continuesStocks advance in thin conditions, with the few traders active pushing up the market to new multi-month highs.
Source: MarketWatch.com - Top Stories | 29 Dec 2009 | 1:46 am UPDATE 1-ING sells stake in Chinese insurer Antai to CCBAMSTERDAM, Dec 29 (Reuters) - Dutch ING , which is splitting up its bank and insurance operations, will sell its 50 percent stake in Chinese life insurer Antai to China Construction Bank (CCB) as part...Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 1:39 am Japan Airlines shares hit new lowShares in Japan Airlines tumble as much as 11%, touching a new low of 85 yen, after reports the carrier may file for bankruptcy.Source: BBC News | Business | World Edition | 29 Dec 2009 | 1:38 am Copper sends FTSE to 15-month highFirm commodity prices today sent London shares to a 15-month high, with mining companies leading the blue chip stock index. Source: Latest Business News from Times Online | 29 Dec 2009 | 1:31 am Asia Markets And Europe Open (12/29/2009)Markets in Asia were higher. The Nikkei rose a fraction to 10,638. Toyota (NYSE:TM) and Honda (NYSE:HMC) moved up. JAL hit record lows on fears of bankruptcy. The Hang Seng was up 1% to 21,499. The Shanghai Composite was higher by .7% to 3,212. At the open in Europe, the FTSE was up .4% to 5,428. The Dax was [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 29 Dec 2009 | 1:27 am Apple shares climb to a record on optimism of holiday salesApple shares rose to a record on New York's Nasdaq on hopes for the Christmas sales and speculation that the company will release a tablet device in 2010.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Dec 2009 | 1:17 am UK unemployment 'to peak at 2.8m'Unemployment will reach 2.8 million in 2010, according to the Chartered Institute of Personnel and Development.Source: BBC News | Business | World Edition | 29 Dec 2009 | 1:11 am Reality checkAugmented reality will be mainstream in mobiles in 2010Source: BBC News | Business | World Edition | 29 Dec 2009 | 1:07 am Repossessions 'loophole' closedThe government says it will close a legal loophole that allows lenders to repossess people's homes without going to court.Source: BBC News | Business | World Edition | 29 Dec 2009 | 1:04 am Kava 'anti-energy' drink takes root in the SouthlandThere's no pot in Mary Jane's Relaxing Soda, but the maker is riding on the drug's cachet to sell the beverage, one of several purportedly calming drinks made from plants long used as folk remedies. ...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am Oil and gasoline prices continue to climbSigns of economic recovery, unrest in Russia and Iran and cold weather combine to push crude oil futures to a four-week high. Gas prices jump two cents a gallon.Oil futures edged toward $80 a barrel Monday, and retail gasoline prices jumped about 2 cents a gallon nationwide and in California.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Fed proposal: Let banks invest in 'CDs''Term deposits' would give an incentive to park money at the Fed, helping the agency prevent inflation.The Federal Reserve on Monday proposed allowing banks to invest in the equivalent of certificates of deposit at the central bank, a move that would help the Fed mop up money pumped into the economy and prevent inflation from taking off later.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Kava 'anti-energy' drink takes root in the SouthlandThere's no pot in Mary Jane's Relaxing Soda, but the maker is riding on the drug's cachet to sell the beverage, one of several purportedly calming drinks made from plants long used as folk remedies.In Los Angeles, where medical marijuana dispensaries outnumber Starbucks and McDonald's restaurants combined, a mood-altering beverage with a cannabis-oriented marketing campaign is gaining traction.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Personal Loan Service, MoneyNowUSA.com, Observes Signs of Economic RecoverySource: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 1:00 am Oil and gasoline prices continue to climbSigns of economic recovery, unrest in Russia and Iran and cold weather combine to push crude oil futures to a four-week high. Gas prices jump two cents a gallon. ...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am Fannie Mae and Freddie Mac shares soarBut a banking analyst is puzzled by the stock market's reaction after the government in effect gave the mortgage giants blank checks of federal support.Speculators poured into shares of Fannie Mae and Freddie Mac on Monday, the first day of trading after the Obama administration in effect gave the companies blank checks of federal support.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Expedition marketing goes to extremesOne campaign takes the high road, which will lead a team of celebs, do-gooders and hypoxia enthusiasts to the top of Mt. Kilimanjaro, in Tanzania, to raise awareness of the global clean-water crisis. The other takes the low road, descending to the lowest point on Earth, the Mariana Trench, near Guam, and then sinks even lower in a cheesy attempt to sell cars.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Expedition marketing goes to extremesOne campaign takes the high road, which will lead a team of celebs, do-gooders and hypoxia enthusiasts to the top of Mt. Kilimanjaro, in Tanzania, to raise awareness of the global clean-water crisis. The...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am Owners taking painful steps to stay afloat in 2010After working hard to keep their doors open during the worst economic downturn since the Great Depression, local small-business owners expect another tough year.Step through the glass doors of Eso Won Bookstore, the landmark but struggling Leimert Park shop specializing in African American titles, and you'll see shelves stacked with civil rights classics by Martin Luther King Jr., poetry by Maya Angelou and important fiction including James Baldwin's "Another Country."
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Vote urged to confirm TSA chiefA GOP senator had blocked Obama's nominee over concerns he would let screeners join unions.In the wake of the botched Christmas Day airliner attack, industry groups, airport workers and others have renewed calls on Congress to confirm President Obama's nominee to head the Transportation Security Administration.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am Fannie Mae and Freddie Mac shares soarBut a banking analyst is puzzled by the stock market's reaction after the government in effect gave the mortgage giants blank checks of federal support. ...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am How to make trade shows pay offDear Karen: Can you offer any advice for our first trade show?Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am Shares edge higher as shoppers boost spendingMajor stock indexes hit 2009 highs as data show an increase in holiday-season spending at retailers. The Dow climbs to 10, 547.08. Commodity prices rise, and the dollar falls. ...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am Fed proposal: Let banks invest in 'CDs''Term deposits' would give an incentive to park money at the Fed, helping the agency prevent inflation. The Federal...Source: RSS feed - channel BNPaperBusiness | 29 Dec 2009 | 1:00 am Carriers may feel fallout from bomb plotTheir stocks dive on investor fear of what an attempt on a Northwest Airlines flight could mean for the industry. Additional security measures in place since the incident could discourage travelers.Just as U.S. airlines were showing signs of recovering from the deepest recession in decades, the industry is facing the prospect of painful financial fallout from the thwarted Christmas Day attack on a Northwest Airlines jet.
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am How to make trade shows pay offDear Karen: Can you offer any advice for our first trade show?
Source: L.A. Times - Business | 29 Dec 2009 | 1:00 am India's Ranbaxy sells entire stake in China JVMUMBAI, Dec 29 (Reuters) - Indian drugmaker Ranbaxy Laboratories said on Tuesday it had transferred its entire shareholding in a Chinese joint venture firm to state-owned Chinese firm HNG Chembio Pharmacy...Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 12:55 am Oil prices rise above $79 as US cold snap continuesOil prices rose above $79 barrel for the first time in seven weeks as an extended cold snap in the US triggered an end-of-year rally in energy futures.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Dec 2009 | 12:51 am Market Chatter -- Corporate finance press digestBANGALORE, Dec 29 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 12:47 am Market Chatter -- Corporate finance press digestBANGALORE, Dec 29 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:Source: RSS feed - channel BNewsBusiness | 29 Dec 2009 | 12:47 am UK unemployment 'to peak at 2.8m next year'Unemployment will peak at 2.8 million next summer, the Chartered Institute of Personnel and Development (CIPD) has forecast, far lower than the figure of 3.2 million that it predicted earlier in the year. Source: Latest Business News from Times Online | 29 Dec 2009 | 12:45 am Asian stock markets mixed after Wall Street edges higherAsian stocks markets were narrowly mixed in dwindling holiday trade on Tuesday after Wall Street posted muted gains.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Dec 2009 | 12:37 am Australia leads Asia stocks as commodities gain (Reuters)
Source: Yahoo! News: Stock Markets News | 29 Dec 2009 | 12:36 am Chinese train maker CNR's IPO gets off to slow startCNR Corp, one of China's top two train makers, limped in with a lukewarm market debut after its $2bn IPO in Shanghai, signalling investors' intolerance for high valuations as a flood of new equity awaits next year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 29 Dec 2009 | 12:29 am China rail firm hits stock marketChinese rail firm CNR makes a muted start to stock market trading, rising just 4% on its first day of trade in Shanghai.Source: BBC News | Business | World Edition | 28 Dec 2009 | 11:57 pm Britons saving less as old habits returnBritons borrowed an average of 32p for every pound they managed to save during the third quarter of the year, research shows.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Dec 2009 | 11:37 pm Repossession loophole to closeLoophole which allows seizure of homes without going to court will end.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Dec 2009 | 11:33 pm Asian markets mixed in light holiday trade (AP)
Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 11:26 pm A financial review of 2009 from A to ZA to Z of finance in 2009: It was a year of Latvian blondes, the Bank of England's magic wand and a great vampire squid.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Dec 2009 | 11:22 pm GM plans to rush Pontiac, Saturn sales: report (Reuters)Reuters - General Motors Co is offering huge incentives to its dealers to speed up the sales of leftover inventory from its Saturn and Pontiac brands, that can push up the automaker's December sales, the Wall Street Journal said.Source: Yahoo! News: Business | 28 Dec 2009 | 10:46 pm GM plans to rush Pontiac, Saturn sales: report(Reuters) - General Motors Co is offering huge incentives to its dealers to speed up the sales of leftover inventory from its Saturn and Pontiac brands, that can push up the automaker's December sales, the Wall Street Journal said.Source: Reuters: Business News | 28 Dec 2009 | 10:46 pm S Korea pardons ex-Samsung chiefSouth Korea pardons ex-Samsung chairman Lee Kun-hee, convicted of tax evasion, so he can assist an Olympic bid.Source: BBC News | Business | World Edition | 28 Dec 2009 | 10:41 pm Brett Arends' ROI: Health industry execs will make a bundleFrom the boardrooms at the top of the big health-care companies, the future looks a lot brighter today than it did just a few months ago, writes Brett Arends.
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 10:18 pm Diary of a Recession Baby: How new parents make the transition back to workMaybe the real problem with nannies is that their dripping fangs and inch-long claws only appear after parents head off to work. How else to explain the pervasive fear that nannies are so inferior to parents that kids in professional care will be neglected, possibly abused, and inevitably grow up to be materialistic, depraved, fearful, egomaniacal, pill-popping psychos?
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 10:01 pm David Weidner's Writing on the Wall: The bank that couldn't shoot straightCitigroup Inc. may be out of intensive care, but it’s still in critical condition, writes David Weidner.
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 10:01 pm Paul B. Farrell: What would Buffett, Bogle and Buddha say?The world's been on a wild ride since the catastrophe Wall Street's Scrooges created more than a year ago, but through it all the Lazy Portfolios were quite serene, writes Paul B. Farrell. He takes a look at how the inner peace and wisdom of three of his heroes might translate into meditations to help Lazy Portfolio investors.
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 10:01 pm Asia Markets: Philippine banks, property shares to gain in 2010The Philippine stock market might not keep pace in 2010 with its year-to-date climb of more than 60%, but it will likely continue to post gains, with the banking, consumer and property sectors leading the advance.
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 9:15 pm Morgan Stanley to overhaul pay for top execs: report (Reuters)
Source: Yahoo! News: Business | 28 Dec 2009 | 8:57 pm Outgoing AIG counsel to get millions in severance pay: reportNEW YORK (Reuters) - American International Group Inc is preparing to pay its departing general counsel several million dollars in severance after she resigned over federal pay curbs, the Wall Street Journal reported on Monday.Source: Reuters: Business News | 28 Dec 2009 | 8:33 pm Nufarm to sell 20% stake to SumitomoAustralian fertilizer maker Nufarm terminates takeover talks with Sinochem and says Japan's Sumitomo Chemical has agreed to purchase a 20% stake in the company at a higher price.
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 8:33 pm Analysts divided on goldGold has soared to record highs and there is no shortage of those wanting to get exposure to the precious metal, but will it all end in tears for investors?Gold shone brightly in 2009, but analysts are divided on whether 2010...Source: nzherald.co.nz - Business | 28 Dec 2009 | 8:00 pm Stocks edge higher as shoppers step up spending (AP)
Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 7:31 pm Pubs to vote on industrial actionThousands of pub landlords consider industrial action to reduce the amount they are forced to pay in overheads.Source: BBC News | Business | World Edition | 28 Dec 2009 | 7:17 pm IPOs to test financial, biotech appetiteNEW YORK (Reuters) - Two companies filed for initial public offerings on Monday, betting that investors would see opportunity in the battered financial sector and the nascent green technology industry.Source: Reuters: Business News | 28 Dec 2009 | 7:01 pm A Ponzi nationIt was a rough year for Ponzi schemes in the United States. In 2009, the recession unraveled nearly four times as many of the investment scams as fell apart in 2008, with "Ponzi" becoming a buzzword again thanks to the collapse...Source: nzherald.co.nz - Business | 28 Dec 2009 | 7:00 pm Stifel reaches auction-rate securities settlement (AP)AP - Financial services firm Stifel Nicolaus & Co. will complete the buyback of auction-rate securities from individual investors six months early under a settlement reached Monday with Missouri and other states.Source: Yahoo! News: Business | 28 Dec 2009 | 6:52 pm Mitsubishi UFJ to issue $146 million in yuan bondsBank of Tokyo-Mitsubishi UFJ plans to issue yuan-denominated bonds in China early next year, according to a media report Monday..
Source: MarketWatch.com - Top Stories | 28 Dec 2009 | 6:08 pm Shoppers active in UK, USThe post-Christmas surge of British shoppers hitting the high street to hunt down bargains continued yesterday, but the rush could end once value added tax (VAT) goes up from New Year's Day, this Friday.After a record Boxing Day,...Source: nzherald.co.nz - Business | 28 Dec 2009 | 6:00 pm Retail holiday sales improve after dismal 2008MONTREAL/CHICAGO (Reuters) - U.S. retailers performed better during the holiday shopping season this year than in historically dismal 2008, in line with lowered expectations, according to data released on Monday.Source: Reuters: Business News | 28 Dec 2009 | 5:34 pm JPMorgan London plans in doubtJPMorgan is considering axing plans for new European headquarters in Canary Wharf, London, in the wake of the bank bonus tax Alistair Darling, UK chancellor, announced in his pre-Budget report this monthSource: Financial Times - US homepage | 28 Dec 2009 | 5:29 pm Apple: When Speculators Rule Over Investors (AAPL)Apple Inc. (NASDAQ: AAPL) closed at another new all-time high today of $211.61 and $213.95 on an intra-day basis. What is actually far more important than reports of a note from Broadpoint AmTech lifting its price target to $260.00 for 2010 is that the intra-day highs above $210.00 this morning were better than just [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Dec 2009 | 5:14 pm Looking backThe World Service's Martin Webber reviews 2009Source: BBC News | Business | World Edition | 28 Dec 2009 | 5:07 pm Oil and foodWhat will commodity prices do in 2010?Source: BBC News | Business | World Edition | 28 Dec 2009 | 5:07 pm Bonanza eludes America’s bargain-huntersThey came, they saw — and many will have grumbled as Americans hunting for bargains in the post-Christmas sales found slimmer pickings than they had expected. There was no repeat of the bonanza that swept across the United States a year earlier and, analysts argued, Boxing Day 2009 will not go down as one the great Main Street and shopping mall giveaways. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Consumers are flocking to shop on creditOne in ten Britons have put Christmas on plastic, according to research published yesterday. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Fairtrade checks in with the hotel business to boost flagging sales of its cottonThe ethical, fashion-conscious consumer may have been the intended ally of the world’s poorest cotton farmers, but the credit crunch and the recession put paid to that — so Fairtrade is turning its attention to the business world. Fluffy towels and pristine sheets, hotels and hospitals are being targeted under plans to increase sales of Fairtrade cotton. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Thousands to be saved from losing homes by closure of legal loopholeMortgage lenders will be barred from seizing a borrower’s property without a court order after the closure of a legal loophole, to be announced tomorrow. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Ofcom seeks to ease mobile phone switchoverMobile phone users could be able to use their old phone numbers within two hours of moving to a rival network, under revived proposals to stimulate competition in the cut-throat telecoms market. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Paris plus Texas equals an American dream of striking oil in FranceKatherine Griffiths Banking Editor Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Mandelson tells parents how to deal with the boomerang generationHe has returned to the Cabinet more times than any other minister but now Lord Mandelson is giving advice to parents on how to rid their homes of the “boomerang” generation. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm China threatens to slam brakes on price of leadAfter a surge of more than 125 per cent, the price of lead ends the year in limbo — its future at the mercy of Chinese bureaucracy, the stroke of a pen and the legal status of 100 million electric bicycles. Source: Latest Business News from Times Online | 28 Dec 2009 | 5:01 pm Furniture makers push iconic Kiwi designBlair McKolskey is brimming with ideas for the future of furniture manufacturing in New Zealand - a future he says is coming under increasing threat from foreign competition.McKolskey became the director ofThomas's Massachusetts Spy or Worcester Gazette was started to advance the issues of the colonists. (Svadilfari/Flickr) On today's Planet Money: We may think of our independent press today as being the result of political awakening and noble efforts by those seeking truth, but that's not the whole story. University of Chicago economist, Matthew Gentzkow, says we've progressed not just because of good intentions, but because of basic economics. Gentzkow explains how advances in printing helped newspapers expand their audience beyond just one political party. Download the podcast; or subscribe. Music: Phoenix's "Consolation Prizes." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Dec 2009 | 4:51 pm Report: AT&T resumes NYC online iPhone salesAT&T caused a ruckus Monday morning after it reportedly halted online sales of iPhones to New York City residents.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 4:37 pm Stocks hit new highsStocks ended a choppy session higher Monday, with the Dow, S&P 500 and Nasdaq managing fresh 2009 highs on some optimism about a recovery in retail sales and gains in select sectors.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 4:32 pm New head for South Canty FinanceCorporate fixer Sandy Maier has been appointed chief executive of under-pressure South Canterbury Finance.The Harvard Law School and Yale graduate was brought in by the Government to be statutory manager of the failed Development...Source: nzherald.co.nz - Business | 28 Dec 2009 | 4:30 pm Obama to step up terror fightPresident Barack Obama, in his first public response to a foiled Christmas Day attack on a transatlantic airliner, warned groups plotting against the US from abroad that ‘the US will do more than just strengthen its defences’Source: Financial Times - US homepage | 28 Dec 2009 | 4:13 pm CIBC banker fired at 42 wins age claimA London-based banker has won an age discrimination case against one of Canada’s largest financial institutions after being fired at the age of 42 during the credit crisis last yearSource: Financial Times - US homepage | 28 Dec 2009 | 4:01 pm Google in YouTube video plugMedia companies would be better off handing their online video activities to Google’s YouTube video-sharing site than pursuing home-grown efforts such as Hulu.com and the US cable industry’s TV Everywhere initiative, according to senior Google executivesSource: Financial Times - US homepage | 28 Dec 2009 | 4:00 pm Sharemarket back after breakThe New Zealand sharemarket opened firmer today, with all three leading stocks gaining on thin volumes.Fletcher Building, which rose 5c on Christmas Eve, added 4c to $7.99 in the first 10 minutes of trading this morning, while...Source: nzherald.co.nz - Business | 28 Dec 2009 | 4:00 pm How the major stock indexes fared on Monday (AP)AP - Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009. Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy. Meanwhile, commodities prices rose as the dollar fell, giving a boost to energy and materials stocks.Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 3:44 pm Hedge Fund Lessons; Oracle, EMC, Citrix: Taking Stock PodcastSource: Bloomberg - All Podcasts | 28 Dec 2009 | 3:43 pm IPO FILING: Codexis Inc. (CDXS, MAXY, RDS-A)Codexis, Inc. has filed its paperwork with the SEC for an initial public offering. The company plans to trade under the ticker “CDXS” on NASDAQ. Credit Suisse and Goldman Sachs are the joint book-runners, while co-managers are listed as RBC Capital Markets and Pacific Crest Securities. No financial terms are listed in the IPO filing [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Dec 2009 | 3:41 pm Wall Street hits high for yearUS equities were trading modestly firmer at mid-morning on Monday, and were at new highs for the year as the final week of December began on a quiet noteSource: Financial Times - US homepage | 28 Dec 2009 | 3:36 pm Retail holiday sales improve after dismal 2008 (Reuters)
Source: Yahoo! News: Business | 28 Dec 2009 | 3:32 pm Air travel hassles worse after scare; shares dipCHICAGO (Reuters) - Frequent flyers grudgingly remove their shoes and keep liquids in tiny bottles to appease airport security, but measures imposed after a foiled Christmas Day terror plot could tempt frustrated travelers to find alternatives to commercial airlines, experts say.Source: Reuters: Business News | 28 Dec 2009 | 3:20 pm Air travel hassles worse after scare; shares dip (Reuters)
Source: Yahoo! News: Business | 28 Dec 2009 | 3:20 pm Case-Shiller ETFs Bite The Dust (UMM, DMM)The death of an ETF is generally viewed as a failure or as an ill omen for other related ETF’s. Today that is not the case despite the death of two exchange traded products. Today was supposed to be the final trading day of the MacroShares Major Metro Housing Up Trust (NYSE: UMM) and MacroShares [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Dec 2009 | 2:56 pm Fannie Mae mortgage holdings fell sharply in Nov (Reuters)Reuters - Fannie Mae's gross mortgage portfolio shrank sharply in November, at an annual 26.1 percent rate, to $752.2 billion, the largest U.S. home funding provider said on Monday.Source: Yahoo! News: Business | 28 Dec 2009 | 2:44 pm HOT Topic Raised to `Buy' at B. Riley: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 2:31 pm Fannie, Freddie soar on blank checksShares of mortgage finance giants Fannie Mae and Freddie Mac soared Monday after the Treasury Department announced what essentially amounts to a blank check for their bailouts.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 2:30 pm The top 10 things we've learnt in 20091) Ponzi was not a character from 1970s sitcom 'Happy Days' but one of the world's first financial engineers. While Bernie Madoff was, optimistically, sentenced to 150 years in jail this March, he proved that any schemer can run a...Source: nzherald.co.nz - Business | 28 Dec 2009 | 2:30 pm Write-Offs: 12.28.09$$$ James Grant Interview: Let The Good Times Roll [NYM] $$$ Charlie Gasparino: New York Needs Wall Street [HuffPo] $$$ JP Morgan may scrap £1.5bn London HQ plan over Labour's attacks on City: "Jamie Dimon made the coded warning to Alistair Darling in an angry phone call after the Government revealed its 50pc super-tax on bonuses in the pre-Budget report. Although Mr Dimon did not explicitly threaten to can the 1.9m square foot Docklands development, he pointedly used it to demonstrate the bank's commitment to London. A JP Morgan executive stressed: 'There were no threats made on the call and we have made no decisions on people or buildings based on the super-tax announcement.'" [Telegraph] $$$ Sex Diaries: The Divorced Trader Living Out His Fantasy Life [DI] 
 Source: Dealbreaker | 28 Dec 2009 | 2:20 pm Presented By:Source: Dealbreaker | 28 Dec 2009 | 2:20 pm What could go wrong in 2010At the start of 2009, who could have imagined that we'd actually have reasons to look back at the year fondly? It began with much to be worried about -- the health of Citigroup, Bank of America, AIG and other big financials; looming bankruptcies at GM and Chrysler; a stock market at its lowest point since 1997; and a labor market hemorrhaging jobs.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 2:18 pm Goldman Chief "Person of The Year"By Daniel Costello I have to admit that I was pretty surprised The Financial Times has chosen Lloyd C. Blankfein as its person of the year. The newspaper said it made the choice because Goldman Sachs "navigated the 2008 global financial crisis better than others," and is about to make record profits while paying up to $23 billion in bonuses to its 31,700 staff. The editors called Mr. Blankfein "a tough, bright, funny financier who reoriented Goldman. Under his leadership, trading and risk-taking have pushed to the fore, reducing the influence of its investment banking advisers." I'm really interested in what you all have to say about the choice. Good idea? Or just plain nuts? » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Dec 2009 | 2:16 pm Semple Says Polish Economy Unaffected By Global Crisis: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 2:05 pm NZ dollar emerges in firm shapeThe New Zealand dollar emerged from the Christmas long weekend firmer against the US dollar and other major currencies in quiet trading this morning.The kiwi was at US70.83c at 8am, compared with US70.54c at 4pm on Christmas Eve,...Source: nzherald.co.nz - Business | 28 Dec 2009 | 2:00 pm Celebrating success: That's so crazy it just might work ...People have all sorts of unusual ideas for businesses. Some will be consigned to the annals of history pretty quickly. But others will succeed. After all, the inventors of the telephone and electric light were probably seen as cranks...Source: nzherald.co.nz - Business | 28 Dec 2009 | 2:00 pm Lee Buchheit Discusses Sovereign Debt: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 1:53 pm Fed to offer term deposits to banksThe US Federal Reserve plans to offer term deposits to banks as a step to prepare for an end to the exceptionally loose monetary policy used to fight the recessionSource: Financial Times - US homepage | 28 Dec 2009 | 1:25 pm 12 Highest Paid People of 2009The year’s work of financial journalism would not be complete without recapping the highest paid people of 2009. From CEOs to athletes to Hollywood actors and actresses, even these recessionary times are brimming with high achievers who left the rest of the earning world in their dust this year. In fact, for some of these individuals, 2009 proved to be their personal income peak! Today we profile the 12 highest paid people of the year and discuss what led to their exalted earnings. Stephan Schwarzman: $702,440,573
Taking home top pay honors is Stephan Schwarzman, co-founder of the Blackstone Group private-equity firm. Just two years after being named on Time Magazine’s 100 Most Influential People in the World list, Schwarzman took home an eye-popping $702,440,573 in total compensation (including salary, equity and bonuses) according to CNN Money. Since taking Blackstone public in 2007, Schwarzman’s net worth now stands at a towering $7.8 billion. Larry Ellison: $556,976,600
Coming in at a close second is Oracle CEO Larry Ellison. It wasn’t easy wrestling away the title of highest-paid tech CEO from Steve Jobs, but Ellison has joined the ranks of truly astonishing executive compensation in a year when executive pay, on average, fell 11%. Despite earning the type of salary ($556,976,600) that makes politicians and fellow executives envious, Ellison recently pledged to take a pay cut. According to C/Net, Oracle’s ring leader “will receive a base salary of $1 for fiscal 2010″ – down from $999,999 in 2009. The rest of his mind-blowing compensation, as you might have guessed, comes from owning 23.4% of all Oracle stock – over a billion in shares. Oprah Winfrey: $275,000,000
Often described as the most influential woman on earth, entertainment magnate Oprah Winfrey pulled in $275 million last year, according to Fox News. Like Tiger Woods (the next highest earner on our list), much of Oprah’s prodigious earning power stems from relentlessly shrewd branding of everything about herself. Simultaneously funny, inspiring, entertaining and — as witnessed by her outspoken support of Barack Obama’s 2008 campaign — controversial, Oprah has created a media empire that analysts say is among the most powerful brands in the world. With an estimated 44 million TV viewers, Oprah’s been near the top for a while now and we can expect her name to be a mainstay on lists like these for years or even decades to come. Ray Irani: $222,639,705
In an April 2009 profile, Forbes clocked Occidental Petroleum CEO Ray Irani’s yearly compensation at over $222 million, noting also that Irani’s five year compensation totaled over $740 million. The 74 year old executive derived only $1.3 million of 2009 pay from his salary, getting another #3.6 from bonuses, $33 million from “other” sources and $184 million from appreciation in company stock. This last figure is common among highly-paid executives: taking a trivial (relative to their position) salary and making their “real” money from bonuses and company stock. Few executives prospered so greatly from this approach as Irani in 2009. Tiger Woods: $110,000,000
It is a testament to the unshakable branding of Tiger’s persona that he managed to “rack up more than twice the earnings of any other athlete over the past 12 months despite being sidelined for eight months after knee surgery”, according to Forbes. How did Tiger manage to pull off such a Herculean earnings feat while injured and, recently, ensnared in a sex scandal? In a word: endorsements. Only around $11 million of this sum came from actual golf winnings. In addition to running a burgeoning golf course design business, Tiger was able to bank on lucrative endorsement deals with Nike, Accenture and Gillette while on the injury rehab trail. Madonna: $100,000,000
Ranked as the top-selling female artist of the twentieth century, pop diva Madonna raked in a cool $100 million in the last 12 months. And don’t think for a second that she’s resting on her laurels. According to the UK’s Guardian, Madonna “reigns supreme in Billboard’s 2008 Money Makers list”, ranking as the biggest-earning musician of 2008. As the Guardian reports, the bulk of Madonna’s massive recent earnings owe to her phenomenally successful Sticky and Sweet world tour, which broke records by grossing roughly £160m. While her album sales have sagged as of late, Madonna remains a financial juggernaut on the strength of undiminished demand for her live performances. Tyler Perry: $75,000,000
“Diary of a Mad Black Woman” and “House of Pain” star Tyler Perry quietly took home $75 million during the last 12 months, according to Fox News 5 Highest Paid People segment of Power Rankings. Primarily, Perry’s gigantic haul is a result of retaining full ownership of his movies and placing his name in front of every title in which he is involved. While Lionsgate Entertainment is his distributor, Perry nevertheless reaps the lion’s share of the profits from every project he invests himself into. In addition to movies, Perry has also written and toured with a dozen different stage plays. Harrison Ford: $65,000,000
The 2008 blockbuster Indiana Jones And The Kingdom Of The Crystal Skull heralded a triumphant return to the big screen for Harrison Ford. Starring in the fourth installment of the cult classic, Ford’s earnings from the film came solely from his stake from the profits remaining from the $786 million in box office revenue. Largely owing to this, Ford made off with $65 million in total compensation in the last 12 months, following several years of relatively low-profile living for the grizzled Hollywood veteran. Adam Sandler: $55,000,000
He might play a down-and-out loser in most of his movies (see Happy Gilmore, Big Daddy and 50 First Dates as just a few examples), but he always seems to come out on top in the end. 2009 was no exception for Adam Sandler, who rode box office hits like Bedtime Stories and Don’t Mess With The Zohan to $55,000,000 in total compensation according to Forbes. Together, these films grossed $413 million, leading to a most enviable payday for one of Hollywood’s most popular funny men. Kobe Bryant: $45,000,000
Long one of the most dynamic players in the NBA, Kobe Bryant proved this year that he could win without Shaq and his earning power is at an all-time high. According to the Los Angeles Times, Bryant’s number 8 Lakers jersey is the top seller in the NBA, edging out Boston’s Kevin Garnett and Cleveland’s LeBron James for top honors. The 11-time All-Star is sure to remain an economic powerhouse in the near future, as he is still in his prime on a Lakers team that competes year in and year out for the NBA championship. Bryant’s growing, friendly rivalry with James is another factor contributing to high merchandise sales. Nicolas Cage: $40,000,000
Nicholas Cage’s claim to high-earning fame is a “quantity over quality” approach that saw the ambitious actor commit himself to starring in six films in two years. Things aren’t all good for Cage, however. In spite of taking home $40,000,000 in the last 12 months, the ever-serious actor has fallen upon hard times in other financial respects. TheStreet.com reports Cage’s former business manager, Samuel J. Levin, as saying the star “was outspending even his large Hollywood paychecks.” As a last-ditch effort to get back to square one, Cage fired off a $20 million suit against Levin, auctioned off a dozen automobiles and a comic book collection valued at $1.6 million. Dale Earnhardt Jr: $35,000,000
Recent years have proven that not even diminished performance can slow Dale Earnhardt, Jr. down. According to Forbes, Earnhardt has been NASCAR’s most popular driver for seven years standing, despite winning only one race in the past two seasons. His merchandise sales were “twice the total of any other driver”, with additional money coming from his lucrative endorsement deals with the likes of Adidas, Nationwide Insurance, Polaris and Wrangler. With so much support and momentum behind him, Earnhardt promises to keep it a close race earnings-wise for years to come.
Source: Business Pundit | 28 Dec 2009 | 1:22 pm China Mobile deputy investigatedChina Mobile, the world's biggest phone company by subscribers, said yesterday its deputy chairman was under investigation for unspecified offences, adding to a string of scandals at major Chinese state-owned companies.Zhang Chunjiang...Source: nzherald.co.nz - Business | 28 Dec 2009 | 1:00 pm Shoppers make a holiday comebackAn initial report on the holiday shopping season issued Monday showed a solid year-over-year gain, both in stores and online.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 12:52 pm Squatters rack up costs for archdioceseEver since the the Catholic Archdiocese of Boston decided to close 70 churches in 2004, parishioners at five of the churches have refused to leave. The stalemate has cost the archdiocese more $600,000 a year. And that amount could rise. Monica Brady-Myerov reports.Source: Marketplace | 28 Dec 2009 | 12:43 pm Companies spend despite recessionEven in this plodding economy some businesses act like times are flush -- at least that's how it appears from the filings these companies submit to the SEC. Michelle Leder of Footnoted.org explains the fine print of those financial statements.Source: Marketplace | 28 Dec 2009 | 12:43 pm Small hotels flourish in DamascusThe "Old City" of Damascus, Syria, was once a run-down slum. Now foreign tourists are flocking to the ancient, walled quarter with its historic buildings. And their business has prompted a boom in boutique hotels. Don Duncan reports.Source: Marketplace | 28 Dec 2009 | 12:43 pm GDP may reflect quality of life after allAfter studying the gross domestic product of 140 nations, economist and commentator Justin Wolfers says GDP turns out to be a good indicator of a country's well-being.Source: Marketplace | 28 Dec 2009 | 12:43 pm China keeps its money flowingChinese exports have grown an average 25% a year this past decade. That growth rate shouldn't be a huge surprise since China seemed barely rattled by the economic turmoil of 2009. Scott Tong in Shanghai looks back on 2009 and forward to 2010 with host Bob Moon.Source: Marketplace | 28 Dec 2009 | 12:43 pm Holiday movies offer recession reliefThe economy may not be so hot, but movie ticket sales definitely are. Apparently what we need is an escape. Jeff Tyler reports.Source: Marketplace | 28 Dec 2009 | 12:42 pm Tighter security could slow biz travelAfter the failed attack on a Detroit-bound airliner, people flying into the United States from other countries could face longer waits and extra security screenings at airports. Amy Scott reports.Source: Marketplace | 28 Dec 2009 | 12:42 pm Study: Black Markets Protect European Economies
European researchers have concluded that a big enough shadow economy can protect a country from recession. The Financial Times reports: Unofficial, or “shadow”, economies can help shield European countries during a recession – but illicit activity has to be on a sizeable scale, according to report by Germany’s Deutsche Bank. Countries with a high prevalence of moonlighting builders, unrecorded cash transactions, missing invoices, tax evasion or illegal activities such as drug dealing, have seen smaller contractions during Europe’s worst downturn since the 1930s than more honest neighbours, researchers at the Frankfurt-based bank have concluded. The relationship works, however, only if the “shadow economy” is large – such as in Greece, where George Papandreou, prime minister, acknowledged this month that the public services are riddled with corruption. The “most unfavourable level of shadow market activity”, according to Deutsche Bank’s calculations, was exactly 14.3318 per cent of official gross domestic product. Support for the idea that a large informal sector can help in a downturn came from Professor Friedrich Schneider of Linz University, Austria, an expert on “hidden” or “black” economies. “People earn extra money, and nobody works in the shadow economy in order to pay into a savings account – so the money is spent on consumer goods, boosting demand,” he said. Greece’s large black economy was “welfare increasing,” Professor Schneider added. “The only loser is the state”. It’s known that shadow economies act as important buffers for developing countries. From CER: It enhances exports (and competitiveness through imports), it encourages technology transfers, it employs people, it invests in legitimate businesses (or is practised by them), it adds to the wealth of the nation (black marketeers are big spenders, good consumers and build real estate), it injects liquidity to an otherwise dehydrated market. Mercifully, the black economy is out of the reach of zealous and ignorant missionaries such as the IMF. It goes its own way, unnoticed, unreported, unbeknownst and untamed. It doesn’t pay attention to money supply targets (it is much bigger than the official money supply figure) or to macroeconomic stability goals. It plods on: doing business and helping the country to survive…As long as it is there, the countries in transition have a real safety net. Their governments are advised to turn a blind eye to it, for it is a blessing in disguise. It will be interesting to see if shadow economies have a role in creating more stable outcomes for some countries, once the global economy picks up steam again. Image: MindMillion
Source: Business Pundit | 28 Dec 2009 | 12:29 pm Airline shares slide after botched terror attackAirline stocks opened lower Monday after a botched terror attack aboard a Northwest Airlines flight approaching Detroit on Christmas Day disturbed the industry.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 12:26 pm AT&T Temporarily Stops Selling IPhones in New York City
AT&T has temporarily stopped selling iPhones on their website to customers in New York City. The Consumerist has more: AT&T has apparently found a workable solution to the reported data congestion in New York City. They’ve quietly stopped selling the iPhone from their web site to customers in the New York metropolitan area. The iPhone is still available in Apple ant AT&T stores in and around New York City. Just not online. Why? (When Consumerist asked one customer service rep, she said that) “the phone is not offered to you because New York is not ready for the iPhone. You don’t have enough towers to handle the phone.” Update: In a written statement, AT&T spokesman Fletcher Cook told Consumerist that “We periodically modify our promotions and distribution channels.” We have requested additional details, and will add them when and if they become available. Second update: The current line: “Due to increased fraudulent activity, the Apple iPhone may not be available to purchase online in certain ZIP codes.” AT&T needs to get their story straight. And what is the real story here?
Source: Business Pundit | 28 Dec 2009 | 12:06 pm Reality board game craze hits ArgentinaWhile the world has been devouring reality television shows, many Argentines have been opting this Christmas for reality board games, such as Eternal Debt, involving the International Monetary FundSource: Financial Times - US homepage | 28 Dec 2009 | 11:52 am Halted iPhone sales in NYCWhy did AT&T Wireless halt online sales of Apple iPhones in New York City the weekend after Christmas? None of the answers AT&T has given so far make much sense.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 11:44 am Ice party in Minnesota? You betcha!The International Eelpout Festival, held near Walker, Minn., offers merrymaking for -- and by -- entrepreneurs.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 11:40 am IPO Filing: Excel Trust, A REIT Soon-To-Be (EXL)There was an interesting filing for an initial public offering that was put in at the SEC after most investors, brokers, advisors, and traders had already headed home either for Christmas of for the day off as an official holiday. Excel Trust, Inc. filed to come public via an initial public offering. No IPO terms [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 28 Dec 2009 | 11:38 am Iran divide deepens after arrestsAt least three allies of Mir-Hossein Moussavi, the opposition leader, and two aides to Mohammad Khatami, the former president, have been detained, while several reform-minded clerics in the holy city of Qom, were also heldSource: Financial Times - US homepage | 28 Dec 2009 | 10:57 am A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Monday:Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 10:33 am Sergei Magnitsky: independent investigation into death of lawyer slams RussiaAn independent investigation into the treatment of a Russian lawyer who died in jail after accusing officials of corruption and theft has slammed the Moscow legal and prison authorities.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Dec 2009 | 10:22 am Mr. Sunshine's happy economic outlookEconomics is known as the dismal science, but not every economist is a pessimist.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 10:12 am Moffett Discusses Media, Internet, `Lost Decade’Source: Bloomberg - All Podcasts | 28 Dec 2009 | 10:06 am Chinese Currency To Remain StableBy Daniel Costello In an interview published by the Xinhua news agency on Sunday, Wen Jiabao, China's premier, pushed back on mounting international pressure to revalue China's currency. In recent weeks, the US and the European Union and also developing nations such as Brazil and Russia have joined together in pushing China to appreciate its currency, which would have the effect of boosting foreign imports to China and stemming the explosive Chinese export market. Mr. Wen said some of the demands for China to let its currency appreciate were an effort to contain the country's development. He repeated his oft-made assertion that a stable renminbi has helped fuel the global economic recovery. "We will not yield to any pressure of any form forcing us to appreciate. As I have told my foreign friends, on one hand, you are asking for the renminbi to appreciate, and on the other hand, you are taking all kinds of protectionist measures," he said. China dropped its formal dollar peg in 2005 and has since allowed the renminbi to trade within a narrow band. Since the middle of last year it has operated a de facto peg. This has meant that the renminbi has depreciated about 9 percent against the currencies of its main trading partners since early this year, while the Chinese economy has rebounded quicker than any other major economy. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 28 Dec 2009 | 10:06 am iPod Touch a holiday hitJudging from data released Monday morning by Flurry Analytics, Apple's (AAPL) iPod touch was one of the hot gifts this holiday season.Source: Business and financial news - CNNMoney.com | 28 Dec 2009 | 10:04 am NPD’s Cohen Discusses Post-Holiday Retail Sales: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 10:01 am Davidowitz Says 70% of Retail Will See Negative Sales: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 9:59 am Chandler Says Dollar Strength Result of Short Covering: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 9:56 am What’s Filling In for Steve Jobs Worth?
If you have to fill in for Steve Jobs, you might as well be handsomely rewarded. That’s exactly what happened to Apple COO Timothy Cook, who received a $12.3 million stock bonus this year. The Silicon Alley Insider has the story: Apple COO Timothy Cook ran the company brilliantly during CEO Steve Jobs’s six month medical leave this year and thanks to Apple’s surging stock price, he’s been duly rewarded for it, according to an Apple filing with the SEC. After earning stock awards worth $7 million and $6 million in 2007 and 2008, respectively, Tim walks away from 2009 with a $12.3 million stock award to go along with a raised salary (up to $800,000 from $700,000) and a nice cash bonus of $800,000. Tim’s total 2009 compensation: $14 million. As usual, Steve Jobs took a $1 salary and a $1 bonus. (His 5.5 million shares of Apple stock performed pretty well, though.) Unlike Wall Street bonuses, Cook’s bonus sounds reasonable and deserved.
Source: Business Pundit | 28 Dec 2009 | 9:56 am Yu on Currencies, Wood on Fed, Wirth on GDP Growth: AudioSource: Bloomberg - All Podcasts | 28 Dec 2009 | 9:55 am Further oil price rises predicted on US demandThe price of oil inched closer to its highest level in more than a month as traders bet that figures to be released this week would show demand was rising in the US.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Dec 2009 | 9:36 am TSA Implements New Air Travel Restrictions, Thanks to Detroit Bomber
Umar Farouk Abdulmutallab may have failed at bombing Northwest Flight 253 on Christmas Day, but he succeeded in creating big headaches for holiday travelers. In response to the attempted bombing, the TSA has implemented new security measures for domestic and especially international flights. MSNBC has more: While domestic passengers “should not expect to see the same thing at every airport,” TSA said heightened security procedures would include increased vigilance and visibility that may — or may not — take the form of gate screening, added presence of law enforcement officers and canine teams, and other activities. International travelers, however, are sure to notice a difference. New security measures for international flights heading toward the U.S., TSA said, will require increased gate screening “including pat-downs and bag searches” and a variety of in-flight restrictions. “During certain portions of the flight,” passengers may be asked to put away their personal items, turn off electronic equipment, keep blankets, pillows and personal items off their laps, and stay seated, the agency said. Virgin Atlantic Airlines is telling travelers heading to the U.S. that there will be “extra screening of passengers and hand baggage at the gate immediately before boarding.” Air Canada posted notice that, under the TSA-imposed rules, “during the final hour of flight customers must remain seated, and will not be allowed to access carry-on baggage, or have personal belongings or other items on their laps.” And Canada’s WestJet notified passengers that these and other new procedures, such as the limit of one carry-one bag per passengers, are scheduled to be in effect until at least December 30. In a memo sent to airlines (but not posted on the TSA Web site), airlines flying to the U.S. are instructed to turn off any in-flight entertainment systems with embedded maps or GPS programs showing the plane’s exact location. Pilots and crew members are also told not to make announcements identifying landmarks below. Changes in carry-on luggage rules are also causing confusion. Until Saturday, most airlines allowed passengers to board with a standard-sized carry-on bag, plus one additional bag usually described as a laptop-bag, purse or briefcase. Those rules still stand for domestic flights and flights leaving the United States. On incoming flights, however, passengers can board with just one small carry-on item. In other words, the new rules are forcing travelers to be even more patient than usual. Schedule in some extra time if you’re flying anywhere in coming weeks.
Source: Business Pundit | 28 Dec 2009 | 9:17 am Opening Bell: 12.28.09
UBS Case Whistleblower Seeks Prison Postponement (Reuters) Bill Gates Takes Noel's Place In Mustique (NYP) New Hedge Funds Gain Momentum (WSJ) In the FT's parallel universe, Goldman Sachs boss is the hero of 2009 (The Guardian) Madoff Son Of A Gun (NYP)
Does Golden Pay for the CEOs Sink Stocks? (WSJ) After Bailouts, Washington's The Boss (WSJ) And look who decided to show up:
Source: Dealbreaker | 28 Dec 2009 | 8:55 am Schumer on Wall Street Bonuses; Health Care, Stimulus: VideoSource: Bloomberg - All Podcasts | 28 Dec 2009 | 8:29 am Holiday Bonus, Anyone?
Source: Business Pundit | 28 Dec 2009 | 8:24 am New restrictions add to air-travel headachesNew security restrictions swiftly implemented following a botched attempt to blow up an airliner on Christmas Day are making air travel more burdensome and could discourage some business fliers, key customers for the airlines.
Source: L.A. Times - Business | 28 Dec 2009 | 8:22 am Airline shares weaker amid renewed terror concerns (Reuters)Reuters - Airlines shares were broadly lower on Monday after a Nigerian man was charged with trying to blow up a Northwest Airlines plane on Christmas Day.Source: Yahoo! News: Business | 28 Dec 2009 | 7:41 am Airline shares weaker amid renewed terror concerns (Reuters)Reuters - Airlines shares were broadly lower on Monday after a Nigerian man was charged with trying to blow up a Northwest Airlines plane on Christmas Day.Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 7:41 am Morning Report: Holiday Sales Not Too Bad; Detroit Pushes FarmingBy Daniel Costello After an uncertain holiday season for struggling retailers, early sales figures coming out of the nation's malls, big-box stores and supermarkets showed improvement in several retail categories. Total retail sales from Nov. 1 to Dec. 24 improved 3.6 percent from the same period a year earlier, according to data released Sunday by SpendingPulse, an information service of MasterCard. That figure includes traditional holiday categories such as apparel and electronics as well as outlets such as grocery stores, furniture sellers and drugstores. The results don't necessarily point to a strong retail turnaround. The sales increases were generally modest and last year's holiday figures were so dismal that this year had very few places to go but up. Two new studies are raising questions about the benefits of paying the C-suite more money. The first study, led by corporate-governance expert Lucian Bebchuk of Harvard Law School, looked at more than 2,000 companies to see what share of the total compensation earned by the top five executives went to the CEO. The researchers call this number--which averages about 35 percent--the "CEO pay slice." It turns out that the bigger the CEO's slice of the pie, the lower the company's future profitability and market valuation In a second study, finance professor Raghavendra Rau of Purdue University and two colleagues looked at CEO pay and stock returns for roughly 1,500 companies per year from 1994 through 2006. They found that the 10 percent of firms with the highest-paid CEOs produce stock returns that lag their industry peers by more than 12 percentage points, cumulatively, over the next five years. Companies at the top of the pay pile, Prof. Rau concluded, award their CEOs an annual average of $23 million--but leave their shareholders poorer (relative to other companies in the same industry) by an average of $2.4 billion per year. Each dollar that goes into the CEO's pocket takes $100 out of shareholders' pockets. And down-on-its-luck Detroit appears to have a new urban renewal plan: farming. Large gardens and small farms -- usually 10 acres or less -- have cropped up in thriving cities such as Berkeley, where land is tough to come by, and struggling Rust Belt communities such as Flint, Mich., which hopes to encourage green space development and residents to eat locally grown foods. In Detroit, hundreds of backyard gardens and scores of community gardens have blossomed and helped feed students in at least 40 schools and hundreds of families. One of the largest in the area, Hantz Farms, is unique. Although company officials declined to pinpoint how many acres they might use, they have been quoted as saying that they plan to farm up to 5,000 acres within the Motor City's limits in the coming years, raising organic lettuces, trees for biofuel and a variety of other things. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 28 Dec 2009 | 5:59 am European stocks climb after Asian gains (AFP)
Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 5:24 am German DAX index climbs above 6,000 points (AFP)
Source: Yahoo! News: Stock Markets News | 28 Dec 2009 | 5:13 am It Pays to Elaborate on Facebook
Source: Business Pundit | 28 Dec 2009 | 4:30 am
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