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Iceland president promises to payIceland's president tells the BBC the nation will honour its banking crisis debts to the British and Dutch governments.Source: BBC News | Business | World Edition | 7 Jan 2010 | 3:32 am Cadbury shares drop below Kraft's bid for first time (Reuters)
Source: Yahoo! News: Business | 7 Jan 2010 | 3:18 am Cadbury shares drop below Kraft's bid for first timeLONDON (Reuters) - Cadbury shares dipped below the level of Kraft Foods' 10.6 billion-pound ($17 billion) bid for the first time on Thursday as prospects of a rival bid receded and analysts reckoned Kraft now needs only to slightly sweeten its offer to win.Source: Reuters: Business News | 7 Jan 2010 | 3:18 am House prices 'up on a year ago'UK house prices were 1.1% higher in December than a year earlier - the first annual rise since March 2008, the Halifax says.Source: BBC News | Business | World Edition | 7 Jan 2010 | 3:15 am Japan finance minister says want yen to weaken moreTOKYO (Reuters) - Japan's new finance minister, Naoto Kan, said he wanted the yen to weaken more and would work with the Bank of Japan to bring the currency to an appropriate level given its impact on the economy.Source: Reuters: Business News | 7 Jan 2010 | 3:15 am German retail sales down two percent in 2009 (AFP)
Source: Yahoo! News: Business | 7 Jan 2010 | 3:15 am The Fed Becomes IndecisiveThe stock and bond markets would like to be able to easily predict what the Federal Reserve will do for several months after each Federal Open Market Committee Meeting. If they had the knowledge it would take some risk out of trading. The Fed has been fairly predictable for the last year. Interest rates have [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jan 2010 | 3:12 am Shanghai tumble leads Asia stocks lowerMost Asian stocks decline, with Chinese shares dropping sharply as a central bank move to tighten liquidity in the money markets raises fears interest rate increases could come sooner than expected.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 3:06 am China central bank surprises with yield hike (Reuters)Reuters - China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August, intensifying its grip on liquidity a day after it promised to keep credit growth in check.Source: Yahoo! News: Business | 7 Jan 2010 | 3:04 am China central bank surprises with yield hikeSHANGHAI (Reuters) - China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August, intensifying its grip on liquidity a day after it promised to keep credit growth in check.Source: Reuters: Business News | 7 Jan 2010 | 3:04 am Commercial Real Estate Begins To Mirror Residential MarketThe residential real estate crisis is over. Home prices are stable. The number of people who are in the market for a home is up. Tax credits and home prices, which are still historically low, are the cause for a rise in home shopping all over the country. All of that is true until it [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jan 2010 | 3:01 am FTSE opens flat (AFP)
Source: Yahoo! News: Stock Markets News | 7 Jan 2010 | 2:59 am UK 2009 car sales near 2 millionSales of new cars in the UK reached almost two million last year, boosted by the scrappage scheme, official figures show.Source: BBC News | Business | World Edition | 7 Jan 2010 | 2:59 am Last chance to refinance below 5%If you want to refinance your mortgage into a loan with a sub-5% interest rate, better hurry. Your window of opportunity is closing fast.Source: Business and financial news - CNNMoney.com | 7 Jan 2010 | 2:54 am Car sales fall to lowest level since 1995Car sales fell by 6.4 per cent last year, to the lowest level since 1995, the industry body said today, as concerns mount about the end to the car scrappage scheme that has boosted sales since May. Source: Latest Business News from Times Online | 7 Jan 2010 | 2:52 am UK house prices will be flat in 2010, Halifax predictsUK house prices will go nowhere this year, according to building society Halifax, after rising almost 10pc in the second half of last year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jan 2010 | 2:51 am When a home energy audit paysThe government is expected to unveil a new program in the next couple of months that if approved may reimburse homeowners for up to half the cost of making their homes more efficient, but don't start shopping for new kitchens just yet.Source: Business and financial news - CNNMoney.com | 7 Jan 2010 | 2:50 am Congress to take another whack at stimulusWhen the Senate returns on Jan. 19, jolting the economy will be high on the to-do list.Source: Business and financial news - CNNMoney.com | 7 Jan 2010 | 2:49 am World stock markets slip as mixed US data weigh (AP)
Source: Yahoo! News: Stock Markets News | 7 Jan 2010 | 2:47 am GM And Chrysler Face Longer OddsBy Paul Ausick of 24/7 Wall St. Auto companies have recently reported sales figures for the month of December and full-year 2009. For nearly all, the numbers are better. The numbers are also not particularly good. Ford Motor Co. (NYSE:F) posted a nice 33.5% increase for the month compared with December 2008. Toyota (NYSE:TM) and Honda (NYSE:HMC) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jan 2010 | 2:47 am Stocks stutter ahead of US jobs dataGlobal markets overview: Global stocks stutter as traders await Friday’s non-farm payroll numbers in the US, but forex remains in focus as Japan’s new finance minister says he favours a weaker yenSource: Financial Times - US homepage | 7 Jan 2010 | 2:47 am London Markets: U.K. stocks slip ahead of Bank of England decisionShares in supermarket chain Sainsbury rise for the first time in three sessions on Thursday after reporting stronger-than-forecast sales, but the broader U.K. market dips.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 2:45 am Equities slip, yen weakens, eyes on U.S. data (Reuters)
Source: Yahoo! News: Business | 7 Jan 2010 | 2:44 am Equities slip, yen weakens, eyes on U.S. dataLONDON (Reuters) - Equities came off the boil globally on Thursday, after rising every day so far this year, as investors stepped back to await key U.S. economic data at the end of the week.Source: Reuters: Business News | 7 Jan 2010 | 2:44 am Auto execs: Still too many plantsThe U.S. auto industry has been decimated in recent years by a rash of plant closings. But according to a survey of top industry executives, more shutdowns could be on the way.Source: Business and financial news - CNNMoney.com | 7 Jan 2010 | 2:43 am Trouble With OPEC QuotasYesterday’s report from Reuters that some OPEC member nations are cheating on their quota agreements is unique only in that the news agency has apparently got a document outlining what the cartel wants its members to do. Essentially, OPEC ministers want to cut crude production to the agreed-upon levels, taking nearly 2 million barrels/day out [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jan 2010 | 2:43 am Top banks to meet central banks as fears of 'excessive risk-taking' growTop banks are to meet in Switzerland this weekend amid increasing fears that financial firms are returning to the excessive risk taking that triggered the current financial crisis, the Financial Times reported.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jan 2010 | 2:42 am Stocks set for a lower startU.S. stocks were set to open lower Thursday as investors get focused on the nation's employment situation.Source: Business and financial news - CNNMoney.com | 7 Jan 2010 | 2:36 am Sainsbury tops forecast on record customer numbersThe U.K.’s third-largest supermarket chain announces a forecast-beating rise in comparable sales as customer numbers hit a record high over the Christmas period.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 2:35 am 'Strong' trading at Sainsbury'sSupermarket group Sainsbury's reports "strong" trading and a "record" performance over the Christmas period.Source: BBC News | Business | World Edition | 7 Jan 2010 | 2:33 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 2:31 am British house prices end the year 1.1% higherBritish house prices ended the year 1.1 per cent higher in the three months to December, according to figures from Halifax, the mortgage lender, marking the first quarterly rise since March 2008. Source: Latest Business News from Times Online | 7 Jan 2010 | 2:31 am New finance minister favours weaker yenThe Japanese yen tumbled as Naoto Kan, the new finance minister, called for a weaker currency on his first day in officeSource: Financial Times - US homepage | 7 Jan 2010 | 2:30 am Fed's Bullard: U.S. jobless rate to start fallingSHANGHAI (Reuters) - The labor market in the United States is improving and the economy is close to the point when the unemployment rate will start to fall, a top U.S. Federal Reserve official said on Thursday.Source: Reuters: Business News | 7 Jan 2010 | 2:15 am Fed's Bullard: U.S. jobless rate to start falling (Reuters)Reuters - The labor market in the United States is improving and the economy is close to the point when the unemployment rate will start to fall, a top U.S. Federal Reserve official said on Thursday.Source: Yahoo! News: Business | 7 Jan 2010 | 2:10 am Europe Markets: Autos pace early Europe dipAutomakers pace an early dip in Europe stocks on Thursday, though U.K. supermarket chain J Sainsbury climbed after reporting stronger-than-forecast sales.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 2:10 am Currencies: Dollar gains on rivals in Asian tradingThe dollar spikes against its Japanese counterpart in late Asian trading Thursday, after Japan’s newly appointed top finance official used his inaugural news conference to talk down the yen.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 2:06 am Lobby the European Union SuccessfullySource: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 2:00 am Costco Dec same-store sales beat estimates(Reuters) - Costco Wholesale Corp on Thursday reported a better-than-expected nine percent rise in December sales at stores open at least a year, helped by an increase in gasoline prices...Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 1:57 am Costco Dec same-store sales beat estimates(Reuters) - Costco Wholesale Corp on Thursday reported a better-than-expected nine percent rise in December sales at stores open at least a year, helped by an increase in gasoline prices and stronger foreign currencies.Source: Reuters: Business News | 7 Jan 2010 | 1:57 am Costco Dec same-store sales beat estimates (Reuters)Reuters - Costco Wholesale Corp on Thursday reported a better-than-expected nine percent rise in December sales at stores open at least a year, helped by an increase in gasoline prices and stronger foreign currencies.Source: Yahoo! News: Business | 7 Jan 2010 | 1:57 am Japan engineers delay Dubai work over pay rowA consortium of Japanese engineering companies building the Dubai Metro mass transit system is to embark on a “work slowdown” from today over delayed payments from the Dubai Government. Source: Latest Business News from Times Online | 7 Jan 2010 | 1:56 am Media Digest 1/7/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Cadbury (NYSE:CBY) has held private talks with Hershey (NYSE:HSY). Reuters: Oil dropped below $83 as China said it would tighten its energy policy. Reuters: GM will close Saab. Reuters: China’s central bank hiked yields. Reuters: The Fed’s Bullard said the US jobless rate would start to fall. Reuters: Samsung said 2010 should be much improved and its chip sales are [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jan 2010 | 1:54 am UK bus industry inquiry launchedThe Office of Fair Trading refers the UK's local bus services to the Competition Commission over concerns about pricing.Source: BBC News | Business | World Edition | 7 Jan 2010 | 1:44 am Thousands to declare hidden fundsNearly 10,000 people have come forward to the tax authorities to declare they have money hidden in offshore bank accounts.Source: BBC News | Business | World Edition | 7 Jan 2010 | 1:38 am JD Sports predicts higher profitJD Sports says it believes profits will "significantly exceed" market forecasts after seeing a rise in sales over Christmas.Source: BBC News | Business | World Edition | 7 Jan 2010 | 1:37 am Naoto Kan, Japan's new finance minister, wants a weaker yenJapan's new finance minister, Naoto Kan, said he wanted the yen to weaken more and would work with the Bank of Japan to bring the currency to an appropriate level given its impact on the economy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jan 2010 | 1:30 am Asia Markets And Europe Open (1/7/2010)Markets in Asia fell moderately. The Nikkei was down .5% to 10,661. JAL fell on fears of bankruptcy. The Hang Seng dropped .7% to 22,269. China Life (NYSE:LFC) fell. The Shanghai Composite was down 1.9% to 3,193. At the open in Europe, the FTSE was off .3% to 5,513. The Dax dropped .7% to 5,994. The CAC 40 was [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 7 Jan 2010 | 1:26 am Stocks stutter ahead of US jobs data08:15 GMT. EUROPEAN OPENING SNAPSHOT. The supercharged start to the decade for global stocks stuttered for a second day as traders remained in the thrall of Friday's important US labour market data. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:19 am Local bus services referred to Competition Commission by OFTOFT refers local bus services - excluding London and Northern Ireland - to the Competition Commission saying limited competition was pushing up prices.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jan 2010 | 1:18 am Sainsbury enjoys Christmas as sales riseThe supermarket delivers sales that beat the City's expectations as shoppers snap up food and drink.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 7 Jan 2010 | 1:07 am Retailers did somewhat better this holiday season, figures showResults still fall short of the highs seen before the recession, according to two firms that track retail spending. Analysts note that it was easy to beat 2008's dismal performance.Even as shoppers struggled with a tough economy, many loosened their purse strings during the crucial holiday season, bringing some stability to the battered retail industry.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am Fed policymakers split on handling of stimulus measuresMinutes of December's meeting suggest members are in no hurry to raise short-term interest rates but show they have differing views on the future of the program to buy mortgage-backed securities.Federal Reserve policymakers, with a nod to the recent strengthening of the economy, still see a modest recovery this year -- one that will bring only a "slow improvement" in the nation's severe unemployment problem.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am Former KB Home CEO Bruce Karatz accuses prosecutors of manipulating witnessesKaratz, who is facing trial on option-backdating charges, launches a prosecutorial misconduct defense that was effective for Broadcom executives. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am Justice Dept. to review Comcast deal to take over NBC UniversalThe agency, which was picked over the Federal Trade Commission, will assist the FCC in scrutinizing the $30-billion transaction. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am TV makers see the world in 3-DWith technological enhancements making quality 3-D at home a possibility, the consumer electronics giants hope you'll be willing to pay extra for a set, starting as early as this spring. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am A force in music turns to its soundJimmy Iovine, chairman of Interscope Geffen A & M Records, and partner Dr. Dre see their line of Beats audio gear take off.Jimmy Iovine, one of the most powerful figures in the music industry, has been lining his walls with gold and platinum records for decades, so when he declares that he's found "the next big thing" it's worth lending an ear. This time, though, his passion project has nothing to do with radio hits or album sales -- and that alone says a lot about the state of the recording industry.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am Service sector growing again, but new jobs are fewNEW YORK -- A gauge of the U.S. service sector returned to growth last month, aided by the holiday season's retail sales. The expansion reflected a slowly improving economy -- but it was too slight to...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am Sen. Dodd can now focus on his legacyAfter deciding not to seek reelection, the Connecticut Democrat is poised to make the compromises necessary to push his proposed financial regulations through the Senate.In deciding not to seek reelection, Sen. Christopher J. Dodd became perhaps the highest-profile political casualty of the deep recession and public outrage over the financial industry bailout.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am New Northrop Grumman CEO Wesley Bush shows why he got the jobHis decision to move the firm's headquarters from Los Angeles to Washington, D.C., indicates that he is gunning to make Northrop the nation's leading defense contractor, analysts say.It didn't take very long for Wesley G. Bush, Northrop Grumman Corp.'s new chief executive, to make his mark.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am TV makers see the world in 3-DWith technological enhancements making quality 3-D at home a possibility, the consumer electronics giants hope you'll be willing to pay extra for a set, starting as early as this spring.To sum up Wednesday at the giant Consumer Electronics Show, you need just one number and three letters: 3-D TV.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am Retailers did somewhat better this holiday season, figures showResults still fall short of the highs seen before the recession, according to two firms that track retail spending. Analysts note that it was easy to beat 2008's dismal performance. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am Former KB Home CEO Bruce Karatz accuses prosecutors of manipulating witnessesKaratz, who is facing trial on option-backdating charges, launches a prosecutorial misconduct defense that was effective for Broadcom executives.Launching a prosecutorial misconduct defense that was effective for Broadcom Corp. executives, former KB Home Chief Executive Bruce Karatz has accused federal prosecutors of manipulating witnesses in his upcoming option-backdating trial.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am Software maker files $2.2-billion suit alleging piracy in ChinaSanta Barbara's Cybersitter says software firms stole code to create a controversial Internet filter. Seven computer manufacturers are also named. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am Netflix agrees to delay in renting out Warner moviesUnder the deal, the fast-growing DVD subscription company will wait until 28 days after a movie goes on sale before offering it to customers.On Wednesday evening, Mike Chauvet opened a red envelope from Netflix and popped "The Hangover" into his DVD player.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am GM chief says profit possible this yearGeneral Motors Co. could make a profit this year following years of massive losses, according to a tempered prediction by Edward J. Whitacre Jr., the automaker's chairman and interim chief executive. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am A sampling of gadgets and technologiesThe Consumer Electronics Show in Las Vegas doesn't officially open to the public until today, but that didn't stop companies Wednesday from pre-announcing a slew of new gadgets and technologies, all in the hopes of outgunning the competition.
Source: L.A. Times - Business | 7 Jan 2010 | 1:00 am A force in music turns to its soundJimmy Iovine, chairman of Interscope Geffen A & M Records, and partner Dr. Dre see their line of Beats audio gear take off. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am Netflix agrees to delay in renting out Warner moviesUnder the deal, the fast-growing DVD subscription company will wait until 28 days after a movie goes on sale before offering it to customers. ...Source: RSS feed - channel BNPaperBusiness | 7 Jan 2010 | 1:00 am Advanced Semiconductor Engineering, Inc. Announces Monthly Net RevenuesSource: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 1:00 am UPDATE 3-JAL may post $13.3 bln net loss - Nikkei* Restructuring charge likely 1.13 trillion yen - NikkeiSource: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:49 am Japan's new finance minister call for weaker yenJapan’s newly appointed Finance Minister Naoto Kan sends his nation’s currency significantly lower against its U.S. counterpart, as he uses his inaugural press conference to talk down the yen.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 12:49 am Japan finance minister says want yen to weaken moreTOKYO (Reuters) - Japan's newly appointed Finance Minister, Naoto Kan, said he wanted the yen to weaken more and would work with the Bank of Japan to bring the currency to an appropriate...Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:45 am Japan's Kan calls for weaker yenJapan's new finance minister calls for a weaker yen in order to aid the recovery of the Japanese economy.Source: BBC News | Business | World Edition | 7 Jan 2010 | 12:43 am Turkey and trimmings boost Sainsbury's salesFamilies yearning for a high-quality and traditional Christmas helped J Sainsbury to a better-than-expected performance over the festive period, the supermarket group said this morning. Source: Latest Business News from Times Online | 7 Jan 2010 | 12:40 am Aussie dollar closes highSYDNEY - The Australian dollar closed at a one-month high as weaker-than-expected US data pared back expectations of American rate hikes and lowered the US dollar.At 1700 AEDT, the Australian dollar was trading at US$0.9208/10,...Source: nzherald.co.nz - Business | 7 Jan 2010 | 12:37 am GM not hopeful on Saab deal, proceeds with closureDETROIT (Reuters) - General Motors Co Chief Executive Ed Whitacre said on Wednesday he is not hopeful a breakthrough deal can be reached to save Saab and said GM is proceeding with the...Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:36 am GM not hopeful on Saab deal, proceeds with closureDETROIT (Reuters) - General Motors Co Chief Executive Ed Whitacre said on Wednesday he is not hopeful a breakthrough deal can be reached to save Saab and said GM is proceeding with the wind-down of the Swedish brand.Source: Reuters: Business News | 7 Jan 2010 | 12:36 am FirstFed Financial files for bankruptcyJan 7 (Reuters) - FirstFed Financial Corp filed for Chapter 11 protection in a California bankruptcy court less than a month after its banking unit was shut down by federal regulators.Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:35 am Heidelberger seeks digital printing partner-paperFRANKFURT, Jan 7 (Reuters) - Heidelberger Druckmaschinen is seeking a partner for its digital printing business, German daily business newspaper Handelsblatt reported on Thursday, citing company sources...Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:34 am OFT refers bus industry on poor service and pricesThe Office of Fair Trading (OFT) today referred local bus services across the UK to the Competition Commission, after an investigation found that limited competition is resulting in higher prices and lower quality for customers. Source: Latest Business News from Times Online | 7 Jan 2010 | 12:27 am China central bank surprises with yield hikeSHANGHAI (Reuters) - China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since mid-August, intensifying its grip on...Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:21 am Sprint launches Overdrive 4G hotspotAs part of an effort to set itself apart from much larger competitors, Sprint Nextel Corp. announces a new device that brings super high-speed wireless Internet service to as many as five devices.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 12:20 am JAL creditors give restructuing ultimatum: reportThree major banks, all creditors of Japan Airlines, reportedly propose a turnaround plan for ailing national carrier that involves debt forgiveness and shareholder dilution as the first option, and bankruptcy as the fallback option.
Source: MarketWatch.com - Top Stories | 7 Jan 2010 | 12:18 am Washington clears arms sale to TaiwanThe US defence department announces a contract that allows Lockheed Martin to sell Patriot air defence missiles to Taipei amid China’s statement that a weapons deal would damage broader relations with BeijingSource: Financial Times - US homepage | 7 Jan 2010 | 12:11 am Aust stocks dragged down by banksMELBOURNE - The Australian share market closed lower on Thursday amid profit taking as weakness in the banking sector offset gains in some of the big energy and resources stocks.At the 1615 AEDT close, the benchmark S&P/ASX 200...Source: nzherald.co.nz - Business | 7 Jan 2010 | 12:06 am KFC pulls Australian cricket ad after 'racism' furoreUS fast food giant Kentucky Fried Chicken said Thursday it would pull a cricket-themed TV advert running in Australia, after furious online debate claiming it was racist. The ad, which...Source: RSS feed - channel BNewsBusiness | 7 Jan 2010 | 12:05 am FDIC eyes linking levies to bank payUS banks’ contributions to a fund that insures depositors’ savings could be linked to regulators’ assessment of bank pay plans, under proposed rulesSource: Financial Times - US homepage | 7 Jan 2010 | 12:01 am U.S. firm sues China, PC majors over filter softwareSHANGHAI (Reuters) - A U.S. software maker is suing China, several major PC makers and two Chinese software makers for $2.2 billion, accusing them of using stolen code in controversial Web filtering software that drew global criticism last year.Source: Reuters: Business News | 6 Jan 2010 | 11:53 pm NZ sharemarket closes higherA rise in Fletcher Building's share price to a nine-week high helped propel the New Zealand sharemarket higher in still thin new year trading.The benchmark NZSX-50 index closed up 13.243 points, or 0.405 per cent, at 3284.811,...Source: nzherald.co.nz - Business | 6 Jan 2010 | 11:27 pm Watch out because Britain's period of ulta-low interest rates is coming to an endEnjoy it while you can because the recent period of ultra-low interest rates is about to come to an end.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jan 2010 | 11:15 pm Samsung fuels hope for robust 2010; chip unit shinesSEOUL (Reuters) - Samsung Electronics' strong estimates signal a promising year for the consumer electronics industry and offer investors yet another reason to pile into technology stocks.Source: Reuters: Business News | 6 Jan 2010 | 10:58 pm Kiwi dollar risesThe New Zealand dollar rose to its highest level since late November today as the US dollar went on the defensive and the Australian dollar went on the offensive.The NZ dollar was US73.78c at 5pm, up from US73.64c at 8am from...Source: nzherald.co.nz - Business | 6 Jan 2010 | 10:32 pm Citi faces legal action over severance pay: report(Reuters) - A former senior executive at Citigroup Inc has decided to take legal action against the company to force it to resume paying his multi-million dollar severance package that has been frozen for six months, the Financial Times said, citing people close to the situation.Source: Reuters: Business News | 6 Jan 2010 | 10:06 pm David Callaway: As new gadgets fly, tech stocks can't keep upIt's the first week after the holidays, and folks are sporting their new gadgets on the streets like the shiny silver six-shooters of Western days of old. Can tech stocks keep up with the hype?
Source: MarketWatch.com - Top Stories | 6 Jan 2010 | 10:01 pm Sky City cinema deal moves forwardCasino operator Sky City says due diligence is finished and a final sale and purchase agreement signed for the sale of its cinemas business in this country and Fiji to Amalgamated Holdings.The previously announced deal was conditional...Source: nzherald.co.nz - Business | 6 Jan 2010 | 6:47 pm Mich. gov candidates want to change business tax (AP)AP - GOP gubernatorial candidate Rick Snyder wants to exchange Michigan's main business tax with a flat corporate income tax that would cost businesses less but could leave the state with $1.5 billion less in revenue each year.Source: Yahoo! News: Business | 6 Jan 2010 | 5:48 pm Sweeney, Lantz Discuss Shadow Banking, Housing: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 5:21 pm Bill Gross Says Investors Should Move to German Bonds: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 5:16 pm U.S. Labor Secretary Solis Discusses Green Jobs: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 5:14 pm U.S. Commodity Funds to License New Index: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 5:09 pm Currencies, Value Investing, `W’ Recovery: Taking Stock PodcastSource: Bloomberg - All Podcasts | 6 Jan 2010 | 5:08 pm Cadbury talks to Hershey for rival bidSource: Business and financial news - CNNMoney.com | 6 Jan 2010 | 5:05 pm Microsoft may upstage Apple with new 'tablet' handheld computerMicrosoft was on Wednesday night expected to upstage Apple by announcing a "tablet" handheld computer before its Californian competitor.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jan 2010 | 5:02 pm FSA takes a hard line with iSoft fourThe founder and three former directors of iSoft Group, the software business embroiled in an accounting scandal while working for the NHS in 2006, are being prosecuted for the criminal offence of misleading the stock market. Source: Latest Business News from Times Online | 6 Jan 2010 | 5:01 pm China sued for ‘stealing’ Cybersitter software programA US maker of software that helps parents to filter internet content for their children is suing the Chinese Government for allegedly stealing its technology and using it to block sites deemed politically undesirable. Source: Latest Business News from Times Online | 6 Jan 2010 | 5:01 pm Times MPC urges Bank to peg rates amid worries over fragility of consumer revivalThe Bank of England should leave interest rates unchanged at 0.5 per cent when it meets this morning, members of The Times Monetary Policy Committee (MPC) believe. Source: Latest Business News from Times Online | 6 Jan 2010 | 5:01 pm Rose admits that M&S is losing the battle for Middle EnglandMarks & Spencer conceded yesterday that it was losing the battle for Middle England, despite reporting solid trade over Christmas. Source: Latest Business News from Times Online | 6 Jan 2010 | 5:01 pm Battle lines form over Iceland's borrowed billionsIceland yesterday set the date for a referendum that will decide the fate of a £3.6 billion loan made by Britain and the Netherlands at the height of the banking crisis in 2008. Source: Latest Business News from Times Online | 6 Jan 2010 | 5:01 pm Fed officials worried over MBS pullbackThe tenative recovery in the US housing market could be “undercut” by the looming end to asset purchases by the Federal Reserve and other government interventions, dovish officials warned their colleagues at the central bank’s December meeting, according to minutesSource: Financial Times - US homepage | 6 Jan 2010 | 4:59 pm Travelodge to open 26 new hotelsBudget hotel chain Travelodge announces plans to open 26 new hotels around the UK over the coming year, creating 500 jobs.Source: BBC News | Business | World Edition | 6 Jan 2010 | 4:59 pm Iceland’s president fights to contain falloutOlafur Ragnar Grimsson tells the FT he is living up to Iceland’s traditions as one of the world’s oldest democracies by blocking foreign repayment legislation and referring the issue to a referendum next monthSource: Financial Times - US homepage | 6 Jan 2010 | 4:54 pm Cole Discusses U.S. Auto Sales, Ford, Detroit Show: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 4:51 pm Moody's Zandi Says U.S. Job Market Is Turning: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 4:49 pm Donovan Sees 9.5% U.S. Unemployment at Year’s End: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 4:48 pm Moran Says Nexus One Very Competitive With IPhone: AudioSource: Bloomberg - All Podcasts | 6 Jan 2010 | 4:47 pm Cramer’s Going Global Theme Stock Picks for 2010 (VALE, STD, CHU, PCU, NAT, STO, BHP, BNS, JDSU)Jim Cramer came out with his series of themes for 2010 on CNBC’s MAD MONEY this evening, and tonight’s theme was ‘Going Global.’ Despite the market being overbought and the negative news headwinds, today held up better than expected. He called the remarkable bull market strong for everything recovering from autos to chemicals to chips to healthcare. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jan 2010 | 4:45 pm GM CEO predicts profit this yearGeneral Motors' new CEO Ed Whitacre said he believes the company will return to profitability in 2010.Source: Business and financial news - CNNMoney.com | 6 Jan 2010 | 4:40 pm Podcast: When Science And Corruption Meet
Young workers seal a gap in concrete pavement at a road construction site in Indonesia. (Bay Ismoyo/AFP/Getty Images) ) On today's Planet Money: We hear and read stories of corruption every day, but finding cold hard data on the subject is so hard that MIT economics professor, Ben Olken, had to go dig up roads in Indonesia to get some. Olken and his team set out to measure the amount of raw materials that went missing when the government gave local villagers money for projects like building roads. The study not only required the researchers to dig up roads -- but also to build a few of their own. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Jan 2010 | 4:38 pm Google vs. Apple: Which stock rules?It's Apple's and Google's mobile world. We're all just living in it.Source: Business and financial news - CNNMoney.com | 6 Jan 2010 | 4:36 pm Top banks invited to Basel risk talksTop central bankers and financiers have been invited to Basel by the Bank for International Settlements amid rising concern about a resurgence of the “excessive risk-taking” that sparked the financial crisis.Source: Financial Times - US homepage | 6 Jan 2010 | 4:30 pm Dow and S&P edge up, Nasdaq off on data, Fed minutes (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 4:13 pm How the major stock indexes fared on Wednesday (AP)AP - Investors treaded water for a second day Wednesday as a batch of mixed economic reports and signs of division among Federal Reserve policymakers offered scant new insight into the economy.Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 4:07 pm Stocks end flat following mixed economic reports (AP)
Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 4:01 pm Write-Offs: 01.06.10$$$ Is There a Whisper Campaign to Oust Larry Summers? [The Atlantic] $$$ New Jan. 12 bail hearing date for Rajaratnam [Reuters] $$$ Federal authorities scrutinizing Vicis Capital execs [SS] $$$ Flashback: Dodd reminds us what's "right and responsible" to help hedge funds [CTN] $$$ The shortlist for worst takeover of the century [Telegraph] 
 Source: Dealbreaker | 6 Jan 2010 | 4:00 pm Business Highlights (AP)AP - Some Fed officials conflicted on mortgage programSource: Yahoo! News: Business | 6 Jan 2010 | 3:47 pm 118 new jobs - if a bank will cough up the cashSmall companies shed another 25,000 jobs in December, marking the 23rd consecutive month of cuts, according to a report released Wednesday by payroll-processing firm Automatic Data Processing.Source: Business and financial news - CNNMoney.com | 6 Jan 2010 | 3:43 pm Nouriel Roubini, Larry Gagosian Consider The Eiffel Tower
Source: Dealbreaker | 6 Jan 2010 | 3:31 pm TSX gains for 5th straight day on golds, oils (Reuters)Reuters - The TSX ended higher for a fifth straight session on Wednesday, backed by a three-week high in the price of gold that lifted producers such as Barrick Gold and Goldcorp.Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 3:31 pm NZ dollar gains against US, euroThe New Zealand dollar made modest gains against the greenback and reached its highest level against the euro in 21 months as well as a two-month high against the yen overnight.By 8am the kiwi was buying US73.64c from US73.37c...Source: nzherald.co.nz - Business | 6 Jan 2010 | 3:18 pm Tyson Foods, Family Dollar, Meredith are movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 3:10 pm NZ annual trade deficit at seven year lowNew Zealand had a lower than expected trade deficit of $269 million in November, as imports and exports continued to fall compared to year earlier figures.At the same time, the annual trade deficit fell to its lowest level since...Source: nzherald.co.nz - Business | 6 Jan 2010 | 3:00 pm Dodd to quit Senate in move to aid partyChris Dodd, the Democratic head of the Senate banking committee, will not fight for re-election in November, a decision that throws open his seat in Connecticut and could influence financial regulatory reformSource: Financial Times - US homepage | 6 Jan 2010 | 2:48 pm The Secret To Making The Big Bucks At Citigroup
The bad news is it's going to take some serious outside the box, revolutionary, cheapskate thinking, that will somehow translate to saving Citi tens, if not hundreds of dollars each year. 'Cause that's what John Havens did when he came up with the idea to ban color-copies and insist on using both sides, and that's why he's make making money money take taking money money, and his CEO buddy is getting paid a nickel. Citigroup's John Havens Was Paid $9 Million in 2009 [Daily Intel]
Source: Dealbreaker | 6 Jan 2010 | 2:47 pm Look past M&S's sales semanticsThere was much conjecture on Wednesday about how good sales at Marks & Spencer really were over Christmas. Strictly speaking, like-for-like sales over the 13 weeks to December 26 were lower than analysts' forecasts, rising 0.8pc compared with predictions of 1pc.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jan 2010 | 2:35 pm Interest rate rises may come sooner than you thinkTo QE or not to QE? This is not an issue for this week's meeting of the Bank of England's Monetary Policy Committee, which will keep things ticking along as before, but at some stage soon the Bank of England must decide when and how to start removing the extraordinarily accommodative monetary conditions that have ruled for the last year or more.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jan 2010 | 2:30 pm MPs pressure Alistair Darling over spending cutsThe Treasury's failure to disclose how deep Labour's planned spending cuts will be and where the axe will fall has been attacked by an influential panel of MPs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 6 Jan 2010 | 2:26 pm Why The Bond Market Rules The WorldBy Daniel Costello James Carville, President Clinton's former top advisor, famously said: "I used to think if there was reincarnation, I wanted to come back as the President or the Pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everyone." It's a cruel lesson the United Kingdom, and to a lesser extent the U.S., is getting first-hand this week. On Tuesday, Newport Beach, Calif.-based Pacific Investment Management Co., which runs the world's biggest bond fund, announced it is cutting holdings of U.K. and U.S. debt as the two nations increase borrowing to record levels. In a note on PIMCO's website, the bond giant warned that record levels of government bond issues in the US and UK and the end of looser monetary policies expected as early as late this year will put global financial markets under intense pressure. As a result, PIMCO said it is moving more of its vast $940 billion under management into cash than at any time since the months before Lehman Brothers collapsed in 2008. The move comes as the majority of strategists in the bond market are predicting prices for both US and UK government debt will fall this year. Bondholders fear that a big rise in government bond yields, or interest rates, triggered by market concerns about public finances, could quickly feed through to higher mortgages and business borrowing costs. As yields rise bond prices fall, devaluing bondholders' holdings. The development could have huge implications on Main Street. As interest rates rise, so does the cost of borrowing on everything from credit cards to mortgages. That could blunt any nascent economic recovery, reducing the governments' ability to pay off growing fiscal debts. On a political level, to get back to Mr. Carville, PIMCO's move could have the most immediate effect on British Prime Minister Gordon Brown. Brown is already facing serious threats to his tenure and any further erosion in the UK economy could add to his government's woes. In an interview with Dow Jones Newswires this week, PIMCO's Scott Mather, head of global portfolio management, said the U.K. government faces an 80 percent chance of a credit-rating downgrade if its deficit reduction plans remain as they are. Asked if the U.K. faced a serious risk of suffering a downgrade to its credit rating, Mather said "I think so." "It's just a question of when on the current trajectory, not if," Mather said. "Based on what we know today about the debt trajectory and about the inability to adjust that, I think it's greater than a 50% likelihood for sure. Call it more like 80%." "Common sense would tell you that if you had a buyer in the market place which was taking the majority of the sector repeatedly... and then they disappeared, ...you would expect a reprising, and it could be quite significant," he said in a telephone interview. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Jan 2010 | 2:24 pm Andrew Ross Sorkin: "I Whisper In My Sources' Ears And Hope They're Going To Whisper Back"
Source: Dealbreaker | 6 Jan 2010 | 2:05 pm BlackRock's Doll: Forget inflation, buy stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 1:52 pm EU to hand out Galileo contractsThe first contracts will be awarded on Thursday to build an operational satellite-navigation system for Europe.Source: BBC News | Business | World Edition | 6 Jan 2010 | 1:24 pm Letter: Predicting Chana And David's FutureVan B. writes: You asked, "Where you think we'll be in 2011?" Here is my answer: Chana will be managing partner of a group of restaurants bought at the bankruptcy auction of Planet Hollywood. "Planet Moneywood" will specialize in waiters who carry tape recorders to your table, analyze your order, and make you justify your selections for all to hear. Deserts are all guilt-ridden and come with a card asking you to donate to one of Planet Moneywood's unending pledge drives. David Kestenbaum will accept a job as the science and business correspondent for FOX News because, as he said, "Daddy needs to make some green." He will never again utter the phrases "the reality of climate change," "to help the poor," or "as reported in the New York Times." » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 6 Jan 2010 | 1:00 pm The Impact of Mutual Fund Fees (U.S. News & World Report)U.S. News & World Report - Mutual fund annual fees--which include management fees, administrative costs, and marketing expenses--can really make a dent in your overall return. You may be surprised by how much. Say two people invest $10,000 in two different stock funds, which both gain an average of 8 percent per year over 10 years. Fund A charges 0.5 percent in annual fees, and Fund B charges 1.5 percent. A decade later, Fund A will deliver a return of roughly $20,530 while Fund B will return $18,560. ...Source: Yahoo! News: Business | 6 Jan 2010 | 12:57 pm The Impact of Mutual Fund Fees (U.S. News & World Report)U.S. News & World Report - Mutual fund annual fees--which include management fees, administrative costs, and marketing expenses--can really make a dent in your overall return. You may be surprised by how much. Say two people invest $10,000 in two different stock funds, which both gain an average of 8 percent per year over 10 years. Fund A charges 0.5 percent in annual fees, and Fund B charges 1.5 percent. A decade later, Fund A will deliver a return of roughly $20,530 while Fund B will return $18,560. ...Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 12:57 pm BlueCrest Capital Founder Turned On To Trading By GrandmotherForgot to mention this earlier, but it was thanks to his alpha grandma, a "serious equity trader," and under her tutelage, that Michael Platt became the big-ish deal he is today, i.e. a guy who afford to sponsor an artist specializing in crucified animals just to fuck with people: Platt credits his late grandmother with getting him started as a trader. He was born and raised in Preston, Lancashire, in the northwest of England. His father taught civil engineering at the University of Manchester. His mother was a university administrator. For his birthday one year, Platt's grandmother helped him buy stock in trust savings banks that were selling shares to the public.
Source: Dealbreaker | 6 Jan 2010 | 12:40 pm A Cyclical Decade for Mutual Funds (U.S. News & World Report)U.S. News & World Report - Ignore, for just a second, the recently concluded decade's two bull markets and two recessions. Forget, if even for just an instant, everything that happened throughout the course of the topsy-turvy decade we just emerged from. Because once you filter out all the noise--as preposterous of a task as that may be--something curious happens: By one measure, we're right back where we started in 2000.Source: Yahoo! News: Stock Markets News | 6 Jan 2010 | 12:32 pm Speculators Run Platinum & Palladium Plays Ahead of ETF Launch (GLD, SGOL, PTM, PGM, SWC, PAL)If you have ever wondered just how much exchange traded funds and exchange traded notes can run a market, you can forget about wondering how much the SPDR Gold Shares (NYSE: GLD) has helped to run gold prices higher. Some will say it has, and some will try to dispute this notion. While being able to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jan 2010 | 12:29 pm M Stanley settles Chinese derivatives lawsuitMorgan Stanley has settled a dispute over hedging contracts with China Haisheng Juice Holdings that may, however, provide a worrying precedent for similar disputesSource: Financial Times - US homepage | 6 Jan 2010 | 12:25 pm 25 Icons Who Sullied Their Careers With Sex ScandalsTiger Woods wrecked his career with too many hole-in-ones. But he’s hardly the first person to fall from grace that way. Men and women of stature have been soiling their reputations by doing the naughty for time immemorial. Once the indiscretion is done, it’s only a question of when and who will discover it. And how dirty the deed really was. There’s no limit to how low some respectable folks will go for a little love… 25. Pee-Wee Herman
Paul Reubens, who played Pee-Wee Herman in the manic 1980s children’s show, revealed himself in a very adult way when caught masturbating at a porn theater in Florida. Common enough, but media suicide if you happen to be a kid’s entertainer. Reubens, who was tired of the Pee-Wee character anyway, didn’t seem to perturbed by the incident. Maybe he had a license to sell hot dogs. 24. Ingrid Bergman
1940s Hollywood starlet Ingrid Bergman became famous for her on-screen portrayals of a good girl. Married to a dentist with one daughter, her personal life also fit a vanilla mold. But then director Roberto Rossellini came into the picture. While making the film Stromboli with him, Bergman fell in love with the Italian Stallion, who also impregnated her. America was scandalized that their Joan of Arc was actually the Whore of Babylon. According to Nerve, Two kids and a couple of decades later, America finally forgave Bergman. 23. David Vitter
Vitter, a Louisiana senator, built a platform on banning same-sex marriage and implementing abstinence education. But this married man never said much about prostitution. With good reason: His phone number was found on a list of clients for a company owned by “D.C. Madame” Deborah Jeane Palfrey. Vitter apologized a day after the media reported his indiscretions. Unlike his predecessor, Bob Livingston, Vitter didn’t resign for being an adulterer. 22. Moshe Katsav
When Katsav was elected Israeli President in 2000, he made history in several ways. He was the first candidate from the Likud party to hold office. He was the first president born in an Islamic country (Iran). And he was the first to be sworn in for a seven-year term. But just two weeks before his term ended, Katsav resigned. After complaining to the Israeli Attorney General that one of his female employees was blackmailing him, Katsav sealed his own fate. An investigation showed that Katsav had not only raped that first employee, but had sexually harassed 10 others. A plea bargain kept him out of jail. 21. John Profumo
In the early 1960s, British Prime Minister Harold Macmillan ruled over one of Britain’s most prosperous eras. However, his reign will always be shadowed by his Secretary of State for War’s showgirl fiasco. The Secretary in question, John Profumo, had a fling with London showgirl Christine Keeler. Keeler had also slept with a Soviet naval attaché. During the Cold War, this was the rough equivalent of Defense Secretary Robert Gates cavorting with the wife of a Taliban leader. Then Profumo lied about the affair when questioned by the House of Commons. After the lie was revealed, Profumo went on to clean toilets at a London charity. 20. Lord John Browne
BP CEO Lord John Browne was the poster child for corporate success. He’d joined BP in 1966 and worked his way to the top. Along the way, he was knighted, given 17 honorary doctorates from universities around the world, and become a director at Goldman Sachs. Then allegations that he used company assets to support his Canadian boyfriend landed Browne in court. Browne said under oath that he’d met his boyfriend while jogging. In truth he’d met the man through a gay escort website. Once the lies were revealed, Browne stepped down from BP and Goldman. 19. Vittorio Emanuele, Prince of Naples
As a prince, you can get any babe you want. That wasn’t enough for Vittorio Emanuele, who was involved in a crime ring that recruited prostitutes for a casino in Switzerland. After a week in jail and a few weeks of palace arrest, he was cleared of charges. This was hardly the first incursion Emanuele had with the law. His Shakespearean history includes an unintentional homicide, punching someone in the face at a wedding, and unilaterally declaring himself the King of Italy. 18. Mark Sanford
South Carolina governor Mark Sanford once said that “it is my personal view that the largest proclamation of one’s faith ought to be in how one lives his life.” Sanford must have had a lot of faith in his ability to lie. In June 2009, Sanford disappeared for six days, leaving staff with the notion that he was hiking the Appalachian Trail. On day six, a reporter caught Sanford at the airport, forcing him to admit he’d actually flown to Argentina to hang out with his mistress. Sanford lost his wife after the indiscretion, but his job remains intact. 17. Dwight Yorke and Mark Bosnich
16. John Edwards
Clean-cut, friendly North Carolina Senator John Edwards thrived off his untarnished image. In 2006, when he hired filmmaker Rielle Hunter to create some behind-the-scenes campaign footage, an affair took root. Rumors of the affair and a love child circulated for two years before the mainstream media covered it. When the public finally became aware of the scandal, Edwards admitted to it and apologized, though he denied paternity of the child. Edwards’ wife, Elizabeth, continues to stand by his side. 15. Warren Harding
Warren Harding’s presidency was cut short in 1923 when he died of a mysterious heart attack. His infidelity may be one reason why. Besides being married, Harding enjoyed a 15-year relationship with a friend’s wife, whom the Republican National Committee paid a monthly fee not to talk about Harding’s indiscretions. When Harding was elected president, he also had a fling with a woman 30 years younger, with whom he bore a love child. A couple of years later, he died—poisoned by his wife, perhaps? 14. Strom Thurmond
Known racist and civil rights opponent Strom Thurmond stuck to his segregationist guns until he passed away in 2003. After his death, Essie Mae Washington-Williams, a black woman, came out as Thurmond’s secret daughter. The senator had slept with his black maid in the 1920s, resulting in Williams, who he supported financially for many years. The caveat was that Williams had to keep the agreement, and her parentage, a secret. It seems Thurmond was color-blind after all–but only in the bedroom. 13. Jeremy Thorpe
Liberal party leader Jeremy Thorpe’s mild eccentricities made him popular in 1970s Britain. Though married with a child, Thorpe was rumored to enjoy a homosexual lifestyle on the side. In 1971, former stable hand and male model named Norman Scott publicly claimed to have had relations with Thorpe in the early 1960s, when homosexuality was illegal in England. Thorpe denied the claims, but Scott was persistent. In 1975, an armed man killed Scott’s dog and narrowly missed killing him on a walk. Scott and the would-be killer ended up in court, where Scott said Thorpe had threatened to kill him if he talked about the affair. The would-be killer added to the scandal by saying he was hired as a hit man. In 1977, Thorpe lost his parliamentary seat. He was later acquitted of charges, but resigned from public life. 12. James McDermott
The former chairman and CEO of New York investment bank Keefe, Bruyette & Woods found an unusual way to thank his mistress, Canadian adult film star Marylin Star, for her loving. He offered her inside information on six deals, making Star at least $88,000 in profits. You figure out how much that was per hour. Once caught, Star went to jail, and McDermott lost his career. 11. Michael Vick
Before dogfighting, before drug trafficking in his car, there was herpes. Ron Mexico’s herpes. Ron Mexico, an alias Michael Vick was using to get his herpes treated at clinics, failed to identify his condition to former girlfriend Sonya Elliott, with whom he had unprotected sex. Elliott sued Vick for knowingly giving her an STD. Vick settled for an undisclosed sum. Then, as we all know, his troubles really began. 10. Eliot Spitzer
The Sheriff of Wall Street. The first Jewish president, potentially. Client No. 9. Former New York Governor Eliot Spitzer has been called all three, but only Client No. 9 will stick as his eternal legacy. Feds first caught wind of Spitzer’s indiscretions when he transferred money from his bank to a front for the Emperor’s Club prostitution ring. They later revealed the Crusader of the Year had spent more than $80,000 on prostitutes since his Attorney General days. Spitzer resigned in shame in 2008. 9. Marv Albert
Sports announcer Marv Albert hardly looks like a vampire. But in 1997, he proved his proclivity for human flesh by biting a woman 15 times on a Ritz-Carlton bed—before sodomizing her and forcing her to orally pleasure him. NBC temporarily fired Albert after the scandal, but soon got him back behind the desk. Today, he’s back full force, with such familiar phrases as “Oh! A facial!” 8. David Letterman
Image: Richard Lobell/Rubenstein/Flickr Funnyman David Letterman is known as a bit of a gunslinger. But that image went a step further after a CBS employee threatened to write a book and screenplay about Letterman’s underground sexcapades—unless Letterman paid him $2 million. After the extortion threat, the 62-year-old Letterman admitted that he had “sex with women who work with me on this show.” Apparently, it was part of the Letterman culture that if you worked for him, you might do stupid sex tricks with him, too. 7. ND Tiwari
Not every 86-year-old can attest to being caught in bed with three women. But that’s exactly what happened to Andhra Pradesh governor ND Tiwari. He was caught cavorting with the three lasses after a disgruntled woman set him up (she’d been promised, but never received, a mining lease). After footage of his orgiastic adventure aired, he resigned on “health grounds.” 6. Roman Polanski
He may have directed Rosemary’s Baby and The Pianist, but for all his critical acclaim, Roman Polanski has still done some very dirty things. Like sedating and sodomizing a thirteen-year-old, then fleeing the country before his sentencing. Although this happened in the 1978, Polanski will always remain a film protege–and a guy who rapes little girls. 5. Larry Craig
28 years in Congress and induction into the Idaho Hall of Fame made Idaho senator Larry Craig a respected man. Heck, he even successfully hid years of gay trysts. One fateful day, that was all undone. Craig entered a stall in the St. Paul-Minneapolis airport and tapped his foot in a special code that told his neighbor he wanted some love. Unfortunately, that bathroom neighbor happened to be an undercover agent. Craig was caught red-footed and redfaced. 4. Mark Foley
Congressional pages have always tempted American politicians. In Mark Foley’s case, the jailbait was a 16-year-old boy, perfect for the old guy who chaired the House Caucus on Missing and Exploited Children. Foley had a decade-long history of sexual misconduct, some of it hushed by his partymates, under his belt. But when someone uncovered his dirty instant messages to the page, it was all over: Yuck! 3. Tiger Woods
Mr. Integrity was swinging more than a golf club during his time in the spotlight. Tiger issued a PR-appropriate denial after National Enquirer claimed he had an affair with a nightclub manager. But then he went and crashed his car into a tree. The next morning, his mother-in-law was rushed to the hospital. Then, one by one, fourteen lucky ladies came forward to catch Tiger by the tail. He apologized and took a hiatus from golf. The rest is history in the making. 2. Ted Haggard
National Association of Evangelicals president and megachurch founder Ted Haggard preached against sins like gay marriage. But receiving massages, meth and back-door services from a gay prostitute? That’s something he never specifically addressed in public, until he was ratted out by his lover. Later, it also came out that Haggard, who had a close relationship with GW Bush, had masturbated in front of a juvenile boy. Haggard retreated to Phoenix, where religious counselors converted him back into a heterosexual man “with issues.” He’s back in the pulpit now, claiming to be reformed. 1. Bill Clinton
He helped build a federal surplus and a balanced budget. His reign was one of economic prosperity. But he really stands out for one reason: The stains on a blue dress. We all know what happened after Billy Boy claimed that “I did not have sexual relations with that woman.” The mess that ensued made him go down in history as the president who scored most in office.
Source: Business Pundit | 6 Jan 2010 | 12:25 pm Goldman to sell out as SMFG raises cashGoldman Sachs looks set to sever its financial ties to Sumitomo Mitsui Financial Group, putting an end to a see-sawing relationship that began in the late 1980sSource: Financial Times - US homepage | 6 Jan 2010 | 12:21 pm It's cold down South, but your OJ is safeDespite the cold spell threatening orange crops in Florida, the cost of your morning glass of O.J. isn't likely to shoot through the roof -- yet.Source: Business and financial news - CNNMoney.com | 6 Jan 2010 | 12:21 pm Dell Deal: AT&T Clutters Up Its 3G NetworkPC also-ran firm Dell (NASDAQ:DELL), desperate to get into new lines of business, has launched its Android-based handset, the Mini 3. Dell announced that AT&T (NYSE:T) will be offering the phone to subscribers to its cellular service. That will allow the phone company to further burden its already strained 3G network troubled because of the huge data traffic [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jan 2010 | 12:07 pm What Will Hershey (HSY) Have To Pay For Cadbury (CBY)? $20 BillionHershey Co. (NYSE: HSY) may be posturing to top Kraft Food Inc.’s (NYSE: KFT) bid for Cadbury Plc. (NYSE: CBY) Hershey would likely make a friendly bid, at least 10 percent higher, between $19 billion to $20 billion, as the maker of Reese’s Peanut Butter Cup considers bidding for a company more than twice its [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 6 Jan 2010 | 11:50 am Top CEOs you may not have heard ofMorten Hansen, management professor at U.C. Berkeley, talks with Kai Ryssdal about the surprising list of best-performing CEOs in the latest Harvard Business Review.Source: Marketplace | 6 Jan 2010 | 11:33 am Reducing trash saves company cashLots of companies are trying to boost their green credentials, but they also want to save money. For a furniture company in Ohio, sending less to the landfill is doing both. Dan Bobkoff reports.Source: Marketplace | 6 Jan 2010 | 11:33 am British reluctant to sue health systemOpponents of health care reform have raised concerns about the likelihood of malpractice suits under a new system. But that's not the case in Britain's taxpayer-funded NHS. Stephen Beard reports.Source: Marketplace | 6 Jan 2010 | 11:32 am Travel restrictions come with high priceAviation security is undergoing changes because of the foiled Christmas Day terrorist attack in Detroit. Commentator David Frum says that's going to cost us.Source: Marketplace | 6 Jan 2010 | 11:32 am Examining House, Senate health billsNew York Times columnist David Leonhardt talks with Kai Ryssdal about why President Obama favors the Senate's health care bill over the House's version, and what to expect over the next few months in the health-care overhaul.Source: Marketplace | 6 Jan 2010 | 11:32 am Malls differ in coping with bad economyStores like Macy's are anchor tenants that are vital for business at traditional and strip malls. But these two types of malls are reacting to the economy in different ways right now. Jeremy Hobson reports.Source: Marketplace | 6 Jan 2010 | 11:32 am How Dodd's retirement affects reformSenate Banking Committee Chairman Christopher Dodd will not seek re-election. He was leading the Senate's work on Wall Street reform, so what happens now? John Dimsdale reports.Source: Marketplace | 6 Jan 2010 | 11:31 am Superhuman Bank Of America Exec Conducted A Few Conference Calls In Slightly Less Than Desirable Conditions
* Carnoy likes sports, and beer, ostensibly: MS. CARNOY'S CORNER OFFICE in the Bank of America Tower on 42nd Street is decorated with a football, four tennis balls, a basketball, two Foster's cans, a Mets lunch box, a Mets home plate and a Louisville Slugger baseball bat. * Sometimes she laughs, and other times she doesn't laugh: She is an eccentric conversationalist, sporadically bursting into large laughter, then settling into long and odd silences. * She puts personal touches on her deals: ...she included her team's personal fitness programs and favored yoga positions in a pitch to Lululemon Athletica * She worked late into the night a few times, and, on at least one occasion, over a holiday:
Source: Dealbreaker | 6 Jan 2010 | 11:25 am Presented By:Source: Dealbreaker | 6 Jan 2010 | 11:25 am Despite Setback With Cher, Things Are Looking Up For Ken Griffin
Source: Dealbreaker | 6 Jan 2010 | 11:00 am Service sector growing again, but new jobs are fewNEW YORK -- A gauge of the U.S. service sector returned to growth last month, aided by the holiday season's retail sales. The expansion reflected a slowly improving economy -- but it was too slight to generate much hiring.
Source: L.A. Times - Business | 6 Jan 2010 | 11:00 am Americans Call Australian KFC Ad Racist. Who Cares?
KFC Australia has come out fighting, saying that the commercial was a “light-hearted reference to the West Indian cricket team” that had been “misinterpreted by a segment of people in the US.” The company said: “The ad was reproduced online in the US without KFC’s permission, where we are told a culturally-based stereotype exists, leading to the incorrect assertion of racism. In the Australian media, the reaction has been mixed, with some commentators accusing Americans of “insularity”. Brendon O’Connor, an associate professor at the University of Sydney, told 9 Network News that the association between fried chicken and ethnic minorities was a distinctly US issue: “They have a tendency to think that their history is more important than that of other countries.” Does an American company have a responsibility to avoid producing content that would be racially sensitive in America in other countries? I don’t think so. There are no global regulations or even de facto laws against delivering ads that one country (but not another) finds racist, so KFC can choose to advertise whatever it wants outside of its home country. If West Indians and Australians find the ad offensive, then the company needs to do something about it. If Chinese, Brazilians, Armenians, or Americans find the ad offensive, that doesn’t obligate KFC to do anything about it. The ad isn’t targeted at Americans. It operates in a completely different cultural context. What we find offensive might not be offensive to West Indians and Australians at all. So why implicate an American-based multinational for tweaking its campaigns to the countries in which it operates? It’s part of doing business in those countries. The fact that Americans got their hands on this ad in the first place has to do with the speed and efficiency of Internet technology, with which international policy has not caught up. If Americans truly feel that this ad violates international cultural mores, they need to put energy into formulating an international law, not criticizing one company for operating outside of a familiar context.
Source: Business Pundit | 6 Jan 2010 | 10:13 am Surprise: Securities Class-Action Lawsuits Fall 24 PercentBy Daniel Costello After one of the most volatile years in Wall Street history, news comes this week that securities fraud class-action cases are actually down. In 2009, 169 federal securities fraud class actions were filed, as compared to 223 in 2008, according to research report issued by Cornerstone Research and Stanford Law School's Securities Class Action Clearinghouse. That amounts to a 24 percent drop. The suits that made the news dominated the list -- 18 of the 53 credit-crisis related filings related to Bernie Madoff and other alleged Ponzi schemes. In 2008, 100 credit-crisis related securities class action suits were filed. To be fair, it's possible 2009 cases fell because the most profitable claims had already been filed and stock-market volatility dropped this year compared to last. But the swing is still surprising considering the extent of the recent financial crisis. Here's a copy of the full report.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Jan 2010 | 9:13 am Kiwis 'hooked on mobiles'It is more than 10 years since New Zealanders had their first taste of texting on mobile phones.Since then we've become a nation hooked on mobiles.We now have more mobile phones than people and spend around $2 billion a year...Source: nzherald.co.nz - Business | 6 Jan 2010 | 9:00 am Milk run ends as web auction price dropsThe price of whole milk powder has dropped for the first time in six months because of lower demand.The average price fell 7 per cent yesterday on Fonterra's monthly online dairy trade auction, dropping US$251 ($342) per tonne...Source: nzherald.co.nz - Business | 6 Jan 2010 | 9:00 am Jetstar-AirAsia tie-up 'will save millions'MELBOURNE - Qantas subsidiary Jetstar says its alliance with Malaysia-based low-cost carrier AirAsia could potentially generate cost savings worth hundreds of millions of dollars and result in lower fares.Under the alliance, which...Source: nzherald.co.nz - Business | 6 Jan 2010 | 9:00 am Wall Street Journal Seeing Raj Rajaratnam In A New Light?Back when Raj Rajaratnam was first accused of insider trading, this was the initial hedcut the Journal went with:
Obviously, the paper only has so much leeway with these things, since people know what Raj, and most of their other subjects look like. But raw material they're given to work with aside, the staff does have some influence over the direction in which they want to take things. In some cases, as previously discussed, these editorial judgments are based on the tone of the story. For instance, news that Citi was closing Vikram's baby, Old Lane, got the Sad Face treatment, whereas as an article about Vickles getting to fire people, one of the most fun things a CEO gets to do, got a portrait of a jolly Uncle Vik. In other cases, it's strictly a matter of whether the organization likes you or not (in which case they will have no problem using your high school yearbook photo as a reference portrait), and how they want to portray you. They can either encourage the readership to say "Hey, that looks like a pretty affable, non-criminal guy," or "Look at that fat fuck. He's gotta be up to no good." Whether or not Raj actually looks like Jabba the Hut in real life doesn't much matter: that's the angle the Journal was going with, and they obviously took pains to nail the image, as evidenced by making sure each chin was just right, and that his neck was practically melting. Then they wrinkled his shirt a little bit, because everyone knows a slob is probably guilty of something. So it was a bit shocking to see this, the drawing that accompanied today's story:
Source: Dealbreaker | 6 Jan 2010 | 8:55 am ADP Report: US Companies Cut 84,000 Jobs in December
Payroll processor ADP has reported that private US companies cut 84,000 jobs in December, the smallest drop in employment since March 2008. Bloomberg has more: The ADP report is based on data from about 360,000 businesses with about 22 million workers on payrolls. Today’s ADP report showed a decrease of 96,000 workers in goods-producing industries including manufacturers and construction companies. Service providers added 12,000 workers. Employment in construction fell by 52,000, the 35th straight monthly drop, while financial firms decreased jobs by 12,000, ADP said, the 25th consecutive decline for the industry. Companies employing more than 499 workers shrank their workforce by 34,000 jobs. Medium-sized businesses, with 50 to 499 employees, eliminated 25,000 jobs and small companies decreased payrolls by 25,000, ADP said. Another report today showed employers last month announced the fewest job cuts since the recession began in December 2007 as the economic recovery encouraged companies to retain staff. Planned firings fell 73 percent in December to 45,094 from 166,348 during the same month the prior year, Chicago-based placement firm Challenger, Gray & Christmas Inc. said. The number of jobs lost since the recession began in December 2007 is the biggest in the post-World War II era. More of the same…with even more people out of a job.
Source: Business Pundit | 6 Jan 2010 | 8:33 am Survey: Job SatisfactionBy Caitlin Kenney Are Americans unhappy at work? According to a Conference Board report released yesterday, just 45 percent of people surveyed said they were satisfied with their jobs. That number fell from more than 61 percent who said they were satisfied in 1987, the first year the survey was conducted. Even more troubling, says Lynn Franco, Conference Board spokeswoman, is the satisfaction rate of young workers, less than 36 percent. "Generally the longer you are in the workforce the more your satisfaction seems to deteriorate. So these new young entrants with such a low level of satisfaction, the outlook is not very promising there. It's something employers need to address very quickly." The numbers may look grim, but as the Washington Post points out, these aren't the only statistics out there. In Gallup polls taken every August from 1989 to 2009, 85 percent to 94 percent say they were either completely or somewhat satisfied with their jobs. In the General Social Survey taken by University of Chicago researchers between 1972 and 2008, people who said they were very or moderately happy consistently range from 85 to 87 percent. So Planet Money people, we turn the question over to you for our own informal survey. Tell us how you feel after the jump.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Jan 2010 | 8:30 am Comment Of The Day
Source: Dealbreaker | 6 Jan 2010 | 7:25 am Morning Report: Job Picture Improves Slightly; Iceland's Woes IncreaseBy Daniel Costello U.S. private employers shed 84,000 jobs in December, fewer than the 145,000 jobs lost in November, a report by a private employment service said on Wednesday. The private-sector has shed jobs for 23 months in a row but it was the fewest jobs lost since March 2008, according to the payroll processing firm. The ADP jobs data come two days before the Bureau of Labor Statistics releases its much-anticipated estimate of December job numbers. Iceland's woes continued this week. Ratings agencies cut their views for the country's debt, after the country's president vetoed legislation that would have repaid the U.K. and Netherlands for bailing out depositors of a failed Icelandic bank, potentially imperiling rescue loans for the embattled country. President Olafur Ragnar Grimsson on Tuesday cited the unpopularity of the legislation, which called for some $6 billion in repayment over 15 years. However, his decision may result in Iceland losing or seeing a delay in bailout money from the International Monetary Fund. And more vacant storefronts could be coming to a town near you. Vacancies at U.S. strip malls hit an 18-year high in the fourth quarter and the vacancy rate for large regional malls reached the highest in at least 10 years, according to real estate research firm Reis Inc. Strip malls -- neighborhood and community shopping centers typically anchored by grocery or drug stores -- had a vacancy rate of 10.6 percent in the fourth quarter, surpassing the high set in 1991, Reis said in a report released on Wednesday. The early 1990s is a period often referred to as the commercial real estate depression. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 6 Jan 2010 | 7:09 am Japanese Doritos Have a Strange Message
Source: Business Pundit | 6 Jan 2010 | 4:36 am
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